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SURVEY OF CURRENT BUSINESS WEEKLY SUPPLEMENT UNITED STATES DEPARTMENT OF COMMERCE BUREAU OF FOREIGN AND DOMESTIC COMMERCE WASHINGTON, D. C, AUGUST 14, 1941 SUMMARY OF BUSINESS TRENDS T HOUGH output fell slightly in the latter part of July and early August in some industries, there has been no slackening i the general level of industrial activity which continues to make contraseasonal gains. Freight carloadings declined to 883,000 for the week ending August 2, The movement of coal and miscellaneous freight decreased slightly, but the chief reduction appeared in grain shipments. Electric power output, a general indicator of industrial activity, rose above 3.2 billion kilowatt-hours, a new high for this series. Auto production for the first week in August dropped to a 1941 low of 41,795 units as changeovers to new models began. The transition period is expected to be of short duration, and the industry hopes this month to produce well in advance of the output realized during the similar period of other years. As yet, no reduction in activity for the early months of the model year has been ordered by the Government. However, the raw material problem eventually facing the automobile and other consumer durable lines has again been emphasized by the establishing of complete priority control over the allocation of steel—a most important primary industry. Steel production this year is expected to reach 84 million tons, according to the Office of Production Management (JanuaryJuly output has been 47,730,000 tons, the equivalent of an annual rate of 81,800,000 tons). But the Office of Production Management estimates this will be 11,000,000 tons short of complete requirements for military and civilian use at the income level which would prevail providing steel were plentiful. Retail trade reports for July show an unusually heavy sales volume for that time of year. The adjusted index of department store sales advanced to 113 from 104 in June, an unprecedented increase for this index. Mail-order houses and chain stores also experienced a much smaller decline in business than had occurred in most past seasons. Sellers of durable goods found demand well sustained but immediate delivery was becoming increasingly difficult for a number of commodities. Financial developments in July included a further expansion in loans to business by Reserve member banks of about $150 million, a smaller rise than that of June. These banks also increased their United States Government Security holdings some $295 million. For the year ending July 31, member banks have added $2,713 million of such Government obligations to their portfolios and expanded loans to business $1,606 million. SELECTED BUSINESS INDICATORS STEEL INGOT PRODUCTION ELECTRIC POWER PRODUCTION FREIGHT-CARLOADINGS (PERCENT OF CAPACITY) (BILLIONS OF KILOWATT HOURS) (THOUSANDS OF CARS) 120 IOO 80 60 ^•1939 ^ - - / ^ 1 40 20 .. - 1 1 ! 1 , i - • , AUTOMOBILE PRODUCTION BITUMINOUS COAL PRODUCTION (THOUSANDS OF VEHICLES) (DAILY AVERAGE-THOUSANDS OF TONS) MISCELLANEOUS CAR LOADINGS (THOUSANDS OF CARS) 4UU 300 r^94o^/\i 250 \ Of\r\ - 150 CRUDE OIL RUNS-TO-STILLS COMMERCIAL LOANS (MILLIONS OF BARRELS- DAILY. AVERAGE) (BILLIONS OF DOLLARS) . . I . , 1 i l l . F.H.A. HOME MORTGAGES (NUMBER SELECTED FOR APPRAISAL ON HOMESTOB£ BUUT) b.O 4«) 4 n 1 3.5 1939^ 3.0 ?5 1 , . 1 , . 1 . , D E P A R T M E N T STORE (SEASONALLY ADJUSTED 110 MONTHLY 1 L | 1 • 1 1 1 t 1923- 25« 100 ) . 1 PRICES OF 3 5 0 INDUSTRIAL STOCKS SALES (INDEX, 1926-IQQ) / 140 DATA 120 100 90 80 70 . , r . . 1 . . i . . , , i , , 1 , . i , , 1938 1939 405685-41 , , i , . 1 . . i . . 1940 , . i , , 1 1941 . i . , 1938 1939 1940 1941 WEEKLY BUSINESS INDICATORS' [Weekly average, 1923-25=100, except as indicated] 1940 1941 ITEM Aug. Aug. 9 Business activity: J New York Times§ 2 July July July 12 19 26 10 12 3 132.1 133 3 131.5 128 6 107.3 106.8 96.5 96.1 140.2 141.0 139.3 139 2 109.0 109.6 94.2 95.6 160.4 160.8 160.4 158.6 126.7 128.1 105.8 104.6 Barrons' Commodity prices, wholesale: Dept. of Labor: Combined index 1926—100 Farm products -. - -. Food All other 28 basic commodities© Fisher's index, 1926=100: Combined index Copper, electrolytic! Cotton, middling, spot Construction contracts^ Distribution* Carloadings Department store salesA Employment, Detroit, factory Finance: Bond yields* _..,_, 89 2 87.2 85.5 90. 2 151.8 151.3 88 8 88 3 86.7 85.4 84.6 83.8 90 0 89 7 149.9 147.9 96 2 96.5 95.9 95.4 85 5 85.5 85.5 85.5 62.5 62.1 65.1 60.7 155.9 88 1 76 9 77 0 85.0 65.2 65.2 84.1 69.3 69.1 89 5 82 2 82.3 147.7 106.2 106.9 74 8 61.4 66.7 80 5 ITEM Aug. 5 75 l 62.5 67.2 80 5 95.1 81 0 81.2 78.1 78.6 85.5 78 3 76.8 74.6 73.? 58.8 37.1 38.2 34.6 35.3 67.6 116.2 92.7 94.2 94.4 92.0 76.3 75.4 69.4 68.9 73 81 87 79 89 103 77 93 65.0 115.3 56.8 57.0 57.0 57.2 57.2 61.4 61.5 62.9 62.7 Aug. Aug. J u l y July July Aug. Aug. Aug. Aug. 12 5 3 19 12 10 26 2 9 Finance—Continued. Stock pricest Banking: Debits, outside N. Y. C.t Federal Reserve reporting member banks: Loans total — Interest rates: Callloanst Time loanst --Currency in circulation* Production: Automobiles*- ----Bituminous coal --Cotton consumption^ -Electric powerc?1 Lumber --Pctroleumt Steel ingots® Receipts, primary markets: Cotton Wheat :,;.' 1939 1940 1941 1939 Aug. Aug. Aug. l.-i: 95.6 96.4 96.0 95.3 94.8 94.9 95.2 103.3 105. 5 118.9 116.2 122.9 125.9 117.5 95.1 87.fi 79.4 95.1 m i 65.3 84.8 84 6 84.0 84.2 83 6 67.9 05 3 24.2 24.2 24.2 24.2 24.2 24.2 24.2 24.2 24.2 28 6 28 6 28.6 28.6 ?8 6 28.6 ?8 6 28.6 201.7 200.1 198.5 198.6 199.4 163.4 162.7 145.8 145 fi 53.2 79 0 134.4 139.8 145 4 14.8 102 8 105.3 104.0 93 5 83.6 204.4 201.2 1R9 ? 134.1 151.5 149.5 148.5 147.5 128.8 69 5 72.2 65 0 55 0 57.5 183 2 191.9 182 3 IP? 0 172.3 172 9 175 2 172.2 171 0 170 3 155.2 ?? 1 33.2 80 4 73.7 1?8 6 127.2 129.7 113,3 5P 9 51.8 173 ? 176.0 155.0 103.2 4? 7 7? ? 1?4 S 112.7 ft) ? 103 8 101.9 53.1 35 0 82.7 66.2 4f> ? 36.5 *>G 9 54.2 144.5 207.5 260. 2 319.3 401.6 87.4 130.8 104.9 110.3 • Data do not cover calendar weeks in all cases. ^Seasonally adjusted. JDaily average. c? Weekly average, 1935-39=100. §Computed normal^ 100. Index revised beginning Jan. 8,1938; revised data not given in the issue of Jan. 23,1941, and subsequent issues will be shown later. <8>Index for week ended Aug. 16 is 171.5. Data for 1941 are based on production of steel ingots and steel castings. ©Thursday prices: August 1939=100. A Weekly average 1935-39-100. The index is compiled by the Board of Governors of the Federal Reserve System; it is not adjusted for seasonal variations. WEEKLY BUSINESS STATISTICS* 1941 ITEM Aug. 9 COMMODITY PRICES, WHOLESALE Copper, electrolytic. New Yorkt dol. per lb.. Cotton, middling, spot, New York do Food index (Bun & Brndstreet) do Iron and steel, composite dol. per tonWheat, No. 2, Hard Winter (Kansas City).dol. per bu. Banking FINANCE Debits, New York City mil. of dol-. Debits, outside New York City (140 cities) do... Federal Reserve banks: Federal Reserve bank credit, total do—. U. S. Government securities do—Member bank reserve balances do... Excess reserves, estimated.. do-.Federal Reserve reporting member banks: Deposits, demand, adjusted.. .do... Deposits, time do Investments, total §-_ do... U. S. Government direct obligations do... Obligations fully guaranteed by "U. S. Government... mil. ofdol. Loans, total 5 do Commercial, industrial, and agricultural loans mil. of dol.. Interest rates, call loans X percent.. Interest rates, time loans % do Exchange rates: Pound sterling J dollars.. Failures, commercial number,. Currency in circulation X .mil. ofdoL. Security markets: Bond sales (2V. Y. S. E.) thous. of dol. par value.. Bond yields (Moody's) (120 bonds)* percent.. Stock sales (N. Y. S. E.) -thous. of shares.. Stock prices (N. Y. Times)\ dol. per shareStock prices (Standard and Poor's) (420)..-.1926= 100. Industrials (350).. do.. Public utilities (40) -..do.. Railroads (30) ...do-. PRODUCTION, CONSTRUCTION, AND DISTRIBUTION Production: Automobiles! number. Bituminous coal* ...thous. of short tons. Electric power A ..mil. of kw-hr. Petroleumt thous. of bbl. Steol ingots®. pet. of capacity.. Construction contract awardst tboiis. of dol. Distribution: Freight-carloadings, total cars . Coal and coke ._do. Forest products do. Grains and grain products doLivestocks _ ___ _ _ __do. Merchandise, ]. c. 1 do Ore _ _ do. Miscellaneous do Receipts: Cattle and calvesf thousands. Hogstdo— Cotton into sight thous. of bales. _ Wheat, at primary markets ...thous. of bu._ Aug. 2 1940 1939 July 26 July 19 July 12 Aug. 10 Aug. 3 Aug. 12 193S Aug. 5 Aug. 13 0.118 .170 3.19 38.15 1.06 0.118 .169 3.16 38.15 1.01 0.118 .177 3.16 38.15 0.118 .165 3.09 38.15 .97 0.118 .160 3.09 38.15 0.108 .101 2.23 37.66 .70 0.106 .104 2.22 37.CO .71 0.103 .094 2.15 35.93 .63 0.101 .096 2.17 35.90 .67 0.099 .083 2.44 36.51 .64 0.099 .085 2.46 36.49 .67 3,804 5,816 3,3S0 5,385 3,600 5,G97 3,166 4,539 3,190 4,410 2,763 4,060 2,538 5,835 3,630 4,412 2,428 3,347 3,018 3,965 2,231 2,184 12, 951 5,018 2,245 2,184 13,097 5,155 2,248 2,184 13,117 5,181 2,294 2,184 13,223 5,336 2,249 2,184 12,971 5,124 2,471 2,446 13,286 6,325 2,484 2,448 13,498 6,514 2,462 2,443 10,509 4,533 2,476 2,453 10,413 4,462 2,582 2,564 8,046 2,920 2,574 2,564 8,074 2,924 24,217 5,431 18,164 11,248 24,544 5,420 18,199 11,279 24,381 5,414 18,142 11,291 24,260 5,416 18,054 11,285 23,920 5,425 18,028 11,259 20,712 5,335 15,609 9,436 20,984 5,320 15,461 9,457 17,551 5,251 14,118 8,530 17,462 5,243 14,078 8,515 15,009 5,193 12,412 7,6G9 14,951 5,193 12,395 7,655 3,305 10,597 3,309 10,572 3,302 10,504 3,221 10,523 3,212 10,453 2,569 8,492 2,418 8,517 2,259 8,156 2,241 8,166 1,650 8,199 1,646 8,165 6,087 1.00 1.25 -4.033 220 9,7£6 6,047 1.00 1.25 • 4.033 190 9,719 6,011 1.00 1.25 • 4.035 253 9,638 5,988 1.00 1.25 « 4.032 193 9,646 5,933 1.00 1.25 M.030 184 9,683 4,446 1.00 1.25 «3.920 252 7,937 4,441 1.00 1.25 "3.856 271 7,901 3,917 1.00 1.25 4.681 252 7,079 3,887 1.00 1.25 4.681 277 7,068 3,889 1.00 1.25 4.878 3,865 1.00 1.25 4.899 6,479 6,475 35,320 3.28 3,228 92.89 79.7 94.6 69.9 28.3 40,300 3.29 4,544 93. 64 80.1 94.9 70.1 2S.5 42,880 3.29 4,677 93.21 80.1 95.0 70.5 2S.4 41,530 3.30 3,014 92.57 79.0 93.4 70.3 27.8 51,030 3.30 5,294 92.04 78.9 93.3 70.1 27.8 17,660 3.54 1,509 92.15 77.6 89.2 SO. 8 24.8 22,210 3.55 2,231 92.49 78.3 90.1 81.4 25.2 22,060 3. 03 3,093 100.30 87.4 101.8 88.0 25.9 27,120 3.62 4,267 102.46 90.0 104.9 89.9 27.1 28,610 4.09 5.524 98.96 90.3 108.9 75.4 28.6 28,650 4.09 4,830 100.19 89.2 107.7 74.9 27.3 41,795 62,140 1,750 3,220 3, 695 99.6 105,035 1,793 3,184 3,870 97.9 109,912 1,771 3,163 3,670 97.2 25,032 114,318 1,593 3,141 3,871 96.8 18,650 11,635 1,424 2,743 3,475 00.5 17,373 1,370 2,762 3,494 90.4 26,125 1,255 2,414 3,550 60.1 10,859 33,550 1,230 2,400 3.909 59.3 13,790 1,020 2,198 3,360 39.4 8,104 14.771 9S9 2,194 3,318 39.8 883,065 179,276 50,644 46,142 9,759 155,724 77,228 364,292 897,399 182,146 47,441 55,277 10,034 155,996 78,533 367,972 899,370 181,251 44,774 61,396 9,414 154,680 81,289 366,566 876,165 161,068 44,252 62,697 10,177 154,133 81,104 362,734 726,976 136, ISO 36,370 41,386 10,748 149,635 70,175 282,482 717,927 133,373 36,610 40,690 9,116 150,286 68,547 279,305 661,023 120,795 31,222 40,103 11,234 153,117 49,077 255,475 656,553 117,931 31,933 42,270 11,158 154,657 44,890 253,714 95, 745 29,722 47,890 11,945 148,537 24,798 230,931 584,062 95,414 28,892 51,514 11,276 149,245 22,998 224,723 196 223 91 16,510 213 230 215 20,696 194 228 172 25,397 187 289 120 31,947 180 251 95 6,956 161 244 68 10,403 141 8,343 153 8,773 82 12,551 13,873 98.3 138 11,497 JDaily average. *Data do not cover calendar weeks in all cases. ISource: Ward's Automotive Reports. • Free rate. §Data for 1938 not strictly comparable with data for later years; see note on corresponding data shown on p. 51 of the 1940 Supplement ®Rate per week ended Aug. 16 is 97.5; data for 1941 are based on capacity Dec. 31,1940, of open-hearth, Bessemer, and electric ingots and steel for castings. t Receipts at Buffalo and Cincinnati are now included and receipts at Oklahoma City and Wichita, formerly included, are omitted. AData revised beginning in the June 19,1941, issue to include certain additional governmental and industrial power generation not previously reported. Aug. 6 MONTHLY BUSINESS STATISTICS Earlier data are available in monthly issues of the Survey and the 1940 Supplement 1941 1940 July July 1941 May June Earlier data are available in monthly issues of the Survey and the 1940 Supplement COMMODITY PRICES FlNANCE^Continued Cost of living: National Industrial Conference Board: Combined indexf __.1923=1OO.. Clothing... . . . do .. Foodf do... Fuel and light do... Housing do... Sundries do... Capital flotations: Securities issued, by type of security, total thous. of dol. . New capital, total do. Domestic, total... ..do. Corporate, total..._ ....do.... Bonds and notes: Long term do. Shortterm... .' do Preferred stocks -do-.. Common stocks do Farm loan and other Government agencies.. thous. of dol.. Municipal, State, etc __do._._ Foreign, total. do Refunding, total. do. Domestic, total do. Corporate, total _do. Bonds and notes: Long term do. Short term-,. da. Preferred stocks do.... Common stocks.. .-.do Farm loan and other Government agencies.. _..thous. of dol.. Municipal, State, etc do Foreign, total thous. of dol.. Corporate securities issued by type of borrower, total .thous. of dol.. New capital, total do. Industrial do. Public utilities do. Railroads do. Shipping and miscellaneous ...do Refunding, total. ...do Industrial do.... Public utilities do.... Railroads _ do Shipping and miscellaneous. .do 88.9 73.8 80.2 87.8 88.4 98.7 85.7 73.1 78.4 84.5 86.8 98.2 87.4 73.6 82.2 86.4 88.0 98.5 88.5 73.6 85.2 86.7 •88.2 98.6 27,625 3,565 33,722 3,961 31,202 3,824 DOMESTIC TRADE Postal business: Ecceipts, postal: 50selected cities.. ...thous. of dol_. 30,637 50 industrial cities do 3,887 Retail trade: Department stores: Sales, total U. S., unadj 1923-25=100. Boston ....do Chicago! 1935-39=100.. Cleveland..:: _::: L-jjirrzzz 1923-25=100.: Dallas do___, Kansas City 1925=100. Minneapolis! 1935-39=100. New York ....1923-25=100. Philadelphia do... M07 Richmond do__. "85 St. Louis ..do... f 113 Sales, total XT. S,, adjustcdf do... Chicago!_. 1935-39=100. Cleveland 1923-25=100. Dallas do... Minneapolis! ....1935-39=100. M14 New York 1923-25=100. P90 Philadelphia do... St. Louis do... Mail-order and store sales:j Total sales, 2 companies thous. of dol. 121,175 48,305 Montgomery Ward <fe Co do 72,870 Sears, Roebuck <fc Co do... FINANCE 105 92 108 113 94 73 95 88,565 37,213 51,352 105 r 100 89 p. 82 125 119 —1-11- - . 1 0 5 ^ ri24 '110 '100 '85 122 ••114 95 '98 87 '81 146 '129 105 ••92 105 'HH 124 123 103 107 ' 124 '123 '115 124 '102 99 '83 87 '100 105 145,359 60,520 84,839 131,439 52,872 78,568 1941 1940 July July May 612,092 296,024 295,624 43,569 711,447 399,940 399,940 '49,833 405,839 106,750 106,750 63,874 881,131 519,255 519,005 90,467 30,377 0 9,825 3,367 '47,387 0 1,096 1,350 60,945 55 0 2,875 74,636 2,010 10,387 3,434 212,212 39,843 400 316,068 316,068 86,468 289,458 5,440 37,436 0 299,089 299,089 197,102 369,741 58,797 250 361,876 361,876 113,390 75,793 _ 0 10, 525 150 224,216 ' 15,725 257 2,250 161,757 215,553 14,047 0 48,400 20,660 0 28,300 73,687 0 222,860 25,626 0 292,281 260,976 63,784 19,459 3,775 36,715 3,925 197,102 51,170 138,882 0 4,175 203,857 90,467 29,454 7,684 51,235 1,808 113,390 21,886 83,317 6,860 1,000 43,569 4,068 10,559 22.852 6,090 34,875 45,593 0 6,000 0 311,508 311,508 242,448 4,772 ' 11,356 15,205 '18,500 242,448 109,353 118, £66 0 13,700 1941 June 108,087 0 357345" " 5 , 3 0 3 0 0 TRANSPORTATION AND COMMUNICATION Class I steam railways: Banking: Freight carloadings (Fed. Res. indexes):! Fed. Reserve banks, condition, end of mo.: 136 131 110 138 Combined index, unadj 1935-39=100.. 23,704 23,859 21,801 Assets, total mil. of doL. 23,828 131 117 102 127 Coal do.... Reserve bank credit outstanding, total 170 167 136 172 2,484 2,266 2,280 Coke do.... 2,293 mil. of dol._ 141 135 108 149 0 0 0 Forest products __do___ 0 Bills bought. ..do. 123 107 145 163 4 2 4 Grains and grain products ..do.... 5 Bills discounted do. 69 82 74 70 2,184 2,184 Livestock .do... 2,448 2,181 United States securities do 101 102 94 99 20,583 20,615 Merchandise, 1. c. 1 do... 18, 579 20,603 Reserves, total do. 265 276 250 283 20,322 20, 325 Ore -do... 18,202 20, 317 Gold certificates do. 141 13S 107 139 23,704 23,859 Miscellaneous do... 21,801 23,828 Liabilities, total do. 139 135 110 138 15, 863 16,132 Combined index, adjusted do... 15,575 15,781 Deposits, total do 156 138 120 150 13, 051 Coal do... 13, 498 13, 724 13, J51 Member bank reserve balances, do 189 182 158 200 5,210 5,801 Coke do... 6,514 5,215 Excess reserves (estimated)..do 136 130 108 149 6,723 6,503 Forest products do... 5,248 0,857 Fed. Reserve notes in circulation, .do 126 124 100 112 91.1 91.1 Grains and grain products do._. 89.2 91.0 Reserve ratio... percent.. 88 88 83 91 Livcstock do... Savings deposits: 102 95 100 102 Merchandise* 1. c. 1. .do... Savings banks in New York State: 152 138 156 266 Ore .-do... 5,604 5,631 5, 628 5,575 Amount due depositors mil. of dol__ 139 108 140 136 Miscellaneous do... Monetary statistics: 71 133 67 72 Freight-car surplus, total§ thousands. Foreign exchange rates*J 34 57 27 Boxcars§ do__. .298 .298 .298 .298 Argentina dol. per paper peso.. 17 47 20 Coal cars§.. do... .061 .061 . 061 .061 Brazil, official dol. permilreis__ .301 .301 .301 British India .^^^._.^_dol. per rupee.. J ' :~874 " .882 ;869 Canada.. dol .per Canadian dol _ —FOODSTUFFS — . 570 .571 .570 .570 Colombia dol. per peso.. .234 .234 .234 Grains and grain products (principal markets): .234 Japan dol. per yen.. Corn: .205 .199 .205 . 205 Mexico dol. per peso.. Receipts, principal markets.thous. of bu_. 22,123 22,464 24,846 19,244 4.805 4. 032 4, 031 1032 United Kingdom... _.dol. p e r £ . 19,098 22,133 15,126 22,712 Shipments, principal markets do... Gold: Stocks, commercial, end of month...do— 42,612 25,354 60,959 53,106 Monetary stock, IT. S mil. of dol.. p 22, 674 20, 463 22, 575 22, 624 Oats: 9, 357 9,612 7,S83 Currency in circulation, total do... » 9, 732 3,396 3,854 4,327 Receipts, principal markets d o — 10,575 Public finance (Federal): 3,906 4,571 2,769 5,629 Stocks, commercial, end of month...do— 43, 774 47, 721 48,961 49,513 Debt, gross, end of month do... Wheat: Public issues: 26,611 17,114 29,319 30,987 Shipments, principal markets do.... 41,326 42, 267 42, 641 38,337 Interest bearing do... Stocks, commercial, end of month...do..... 231,582 160,150 139,513 151,895 flftj 574 584 548 Noninterest bearing do... Special issues to government agencies and FUELS AND BYPRODUCTS 5, 834 6,120 4,853 fi, 324 trust funds mil. of dol.. Obligations fully guaranteed by XJ. S. Gov't: 6, fif'O 6,371 Coal, production: 1 5,526 0, 370 Total amount outstanding....mil. of dol.. 4,891 3,858 ' 4,*534 4,623 Anthracite thous. of short tons. Expenditures, total thous. of dol.. t,fi00,253 830, 5C9 1,142,207 1,545,602 42,774 43,400 35,890 Bituminous do... 43,300 National defense* d o — 939, 612 177,325 826,607 S07, 508 Agricultural adjustment program*, . d o — 5P. 642 53,573 38, 875 31, 5£0 METALS AND MANUFACTURES 132,075 150,865 145,432 134,770 Unemployment relief* do 0 0 153, 144 113,520 Transfers to trust accounts do Pig iron: 11,503 20, 353 339,431 24,828 Interest on debt* do... Furnaces in blast, end of month: 1, 335 12,212 17,128 2,054 Debt retirements do... Capacityf short tons per day- 153,190 131,760 151,000 153,600 541,159 1,277,092 367,064 455,556 Receipts, total do... 211 206 187 211 Number Receipts, net* — d o . . . 412,942 331,221 393,683 1,276,009 4,553 4,600 4,054 4,771 Production! thous. of short tons. 38,217 41,060 25,225 36,743 Customs do... Internal revenue, total — d o — 399,783 326,141 482,858 1,211,087 Steel ingots and steel for casting:! 6,801 ' 7,053 5,725 6,822 Production thous. of short tons. 49, 655 63, 271 916,170 83,668 Income taxes! do. 98 83 96 Percent of capacity -31,817 39,098 165,204 47,926 Social security taxes do. r P Preliminary Revised. t No July 1941 data for Chile, Germany, Italy, and Sweden. fSee note on corresponding item in the July 1941 SURVEY. *See note on corresponding item in the July 1941 SURVEY. §Data for May 1941, represent daily average for 9-day period ending May 31, for June 1941, daily aiverage for week ending June 28 and for July 1941, daily average for week ending July 26. JFor coal stocks see p. 4. MONTHLY BUSINESS STATISTICS—Continued Earlier data are available in monthly issues o: the Survey and the 1940 Supplement METALS AND MANUFACTURES— Continued Nonferrous metals: Tin: Deliveries _ -long tons. Visible supply, world, end of mo do--. United States (excluding afloat) ...do... Zinc: Production, slab, at primary smelters short tons. Retorts in operation, end of mo-number. Shipments, total .short tons. Stocks, refinery, end of month do... TRANSPORTATION EQUIPMENT Automobile sales (General Motors Corp'n) World sales: By U. S. and Canadian plants,..number. United States sales: To dealers. _ do... To consumers do... 1941 1940 July July 12,575 («) 5,864 7,325 38, 736 6,567 66,419 68,292 64,086 9,737 52,098 47,545 57,606 61,399 224,517 110, 659 204,695 195, 475 99,664 145,064 39.4 3.6 32.1 11.1 TEXTILE PRODUCTS Aayon: Deliveries (consumption), yarn*..mil. of lb. Stocks, yarn, end of month d.o--_ Silk: D eliveries (consumption) „ . .bales. Stocks, end of month: Total, visible supply... do... United States (warehouses) do... DOMESTIC TRADE 28,528 47,208 22,766 115, 111 43, 211 1941 1940 June June 1941 May June Earlier data are available in monthly issues of the Survey and the 1940 Supplement 1941 June 1940 June LUMBER AND MANUFACTURES Softwoods: Southern pino: 685 623 Orders, new mil. bd. ft. 5S0 350 824 10,490 14,880 Orders, unfilled, end of month do... 753 670 Production...do... 40,777 38,600 658 597 718 Shipments do 7,205 2,846 1,737 1,747 Stocks, end of month do Western pine: 421 502 ' 64,645 637 Orders, new do 62,236 300 65,540 490 628 Orders, unfilled, end of month do 66,876 541 •63,604 468 Production do... 63,159 614 ' 8,327 425 Shipments do... 7,404 478 543 1,593 Stocks, end of month. do... West Coast woods: 605 771 749 Orders, new do... 383 814 735 Orders, unfilled, end of month do... 235,679 240, 748 644 695 743 Production do__ 675 750 Shipments do... 759 217,120 224,119 920 Stocks, end of month do... 224,119 235,817 METALS AND MANUFACTURES Steel, manufactured products: Steel products, production for sale: 40.2 4,754 4,942 Total -thous. of short tons.3,550 5.8 4.6 439 470 Merchant bars do 326 449 453 Pipe and tube do 325 22,440 24,251 466 445 Plates do. 317 168 194 Rails. do 131 214, 711 204,606 999 1,148 Sheets, total do. 749 50,341 53,436 93.8 P.ercent of capacity 107.8 71.2 Strip: 102 104 Cold rolled _-thous. of short tons.. 56 1941 154 144 Hot rolled .do 104 373 383 Structural shapes, heavy do_ 234 292 265 Tin plate do... 244 April May 417 412 300 Wire and wire products do... 11,210 6,075 11,751 Track work, shipments __short tons. Nonferrous metals: 107.7 112.2 Lead: 111.4 116.0 Ore receipts, lead content of domestic ore short tons.- 37,155 36,957 38,665 Refined: 34,041 43,423 Production from domestic ore do 57,969 49,904 59,169 Shipments (reported) _do 24,265 Stocks, end of month do 55,343 42,899 40.7 41.3 31.89 33.12 Electrical equipment: Electrical goods, new orders (quarterly) .784 .799 thous. of dol.. 581,675 268,120 554,115 Motors (1-200 hp.): 5,455 5,044 3,000 Polyphase induction, billings do.... 261,495 265,108 7,750 6,195 3,186 Polyphase induction, new orders....do 21,414 25,389 1,725 1,369 866 Direct current, billings .do 12,965 14,142 4,257 2,060 1,703 Direct current, new orders do 61,977 56,964 PAPER AND PRINTING 165,139 168,613 Retail trade: Drug chain-store sales:* 109.7 Unadjusted 1935-39=100.. 98.5 116.1 104.8 Adjusted,. do.-. EMPLOYMENT CONDITIONS AND WAGES National Industrial Conference Board: Average weekly hours per worker in factories 38.0 hours.. 41.7 28.23 34.11 Factory average weekly earnings dollars.. .740 .815 Factory average hourly earnings do FINANCE Life insurance: Premium collections, total thous. of dol._ 272,173 256,608 25,473 29,859 Annuities do. 11,594 12,519 Group do. 55,547 61,120 Industrial. _ do. 168,675 164,312 Ordinary do. Wood pulp: TRANSPORTATION AND Production: COMMUNICATIONS Total, all grades ..short t o n s . . 803,183 729,984 Waterway traffic: Chemical: Clearances, vessels in foreign trade: 366,582* 311,093 Sulpate, __ .do Sulphate, total 4,606 5,915 6,074 5,729 Total, U. S. ports. thous. of net tons.. Sulphite, total t Slhit t l d o . . . . 239,636 221,971 2,902 3,908 3,957 3,579 Foreign : do Sod do 49,365 - 48,446 Soda _ do 1,704 2,117 2,149 2,007 United States... do.... 147,600 148,474 G Groundwood d d_ d do Travel: Stocks, end of month: Operations on scheduled air lines: Total, all grades do_-_. 168,900 170,500 9,549 10,537 11,668 Miles flown thous. of miles.. 11,472 Chemical: Express carried pounds.. ,544,111 981,884 L,352,181 1,462,121 25,500 14,400 Sulphate, total do 286,272 308,644 363,954 Passengers carried number. 54,800 77,000 Sulphite, total. __ do Passenger-miles flown thous. of miles. 141,826 110,840 114,749 133,979 6,500 Soda... do... 4,500 82,100 Groundwood _ do... 74,600 FUELS AND BYPRODUCTS Paper: Coal, bituminous: Total paper, incl. newsprint and paperbd.:f Industrial consumption, total Production short tons.. 1,091,311 980,385 29,023 • 31,199 thous. of short tons.. 30,870 Paper, excl. newsprint and paperbd.:f 148 Beehive coke ovens... ..do 240 886 850 Orders, new ..short tons-. 552,746 471,457 6,404 Byproduct coke ovens do.~. 6,184 6,855 6,871 Production. do.... 502.936 454,898 Cement mills do. 542 615 596 Shipments... d o . . . 518,829 472,531 Coal-gas rotorts. ...do. 127 124 136 134 TEXTILE PRODUCTS Electric power utilities .. do 5,124 3,839 4,164 ••4,916 Railways (class I)._ do 7,576 6,199 7,006 ' 7,755 Cotton manufactures: Steel and rolling mills— do.... 827 837 690 946 Finished cotton cloth, production: Other industrial do. 7,170 9,730 8,860 9,240 Bleached, plain _ thous. of yd. 158,569 109,278 Other consumption: •Dyed, colors . d o . . . 125,282 78,468 80 Vessels (bunker) thous. of long tons.. 100 124 4,612 5,890 Dyed, black. _ -do... . Coal mine fuel. thous. of short tons.. 231 43 96,871 80,744 Printed..do... '307 Stocks, industrial and retail dealers, end of TRANSPORTATION EQUIPMENT month, total. thous. of short tons_. 42,929 41,563 35,971 37,483 Industrial, total do 37,249 34,563 31,891 Automobiles, registrations: Byproduct coke ovens do.... 5,913 4,725 6,506 4,970 New passenger cars number.. 443,470 318,615 Cement mills do 559 483 62,265 43,504 New commercial cars do 507 390 Coal-gas retorts do.... 225 ••162 284 188 Railway equipment (Asso'n of Amer. R. R.): Electric power utilities ..do 9,988 10,241 9,014 '8,991 Freight cars, end of month: Railways (class I) .......do 6,604 4,644 5,658 '6,135 1,661 1,646 Number owned thousands.. Steel and rolling mills do 720 737 Undergoing or awaiting classified repairs 541 721 Other industrial d o . . . . 13,240 11,840 10,950 11,350 85 153 thousands-. Retail dealers, total do. 7,000 4,080 5,680 4,900 5.2 9.5 Percent of total on line.— Coke: Orders, unfilled — cars.. 91,416 16,033 Production: 69,140 9,974 E quipmen t manufacturers do 93 Beehive do. M60 564 541 22,276 Railroad shops do 6,959 Byproduct.. do. 4,846 4,387 4,474 Locomotives, steam, end of month: 4,836 Petroleum coke do. 140 Undergoing or awaiting classified repairs () 149 128 Stocks, end of month: 4,862 number. . 6,653 1,401 Byproduct plants, total do 1,428 1,405 1,813 12.3 Percent of total on line. 16.5 At furnace plants do 741 265 849 97 Orders, unfilled— number.. 877 694 At merchant plants do 664 234 84 Equipment manufacturers do 935 706 578 Petroleum coke. ....do 385 31 Railroad shops .do 697 400 13 C) r Revised. i Figures for quarter ended March. • Data for June latest available. * Preliminary. * New series. See note on corresponding item in the July 1941 SUBVJET. t Revised data. See note on corresponding item in the July 1941 April May 767 646 759 701 1,795 560 535 570 51G 1.523 797 787 664 744 '5,085 '471 461 '479 185 ' 1,140 ••103.9 '107 '160 '406 287 434 11,012 38,779 46,104 69,382 34,018 5,583 7,351 1,793 3,595 809,021 843,568 353,677 377,850 238,546 244,139 47,622 50,304 169,176 171,275 181,700 176,600 37,800 60,400 6,700 76,800 28,600 56,600 7,300 84,100 ,079,772 ,151,083 589,695 597,663 492,842 533,884 506,087 544,304 178,538 182,003 146,235 145,612 6,543 122,245 119,222 489,074 515,034 72,170 1,647 1,656 96 5.9 55,404 42,162 13,242 94 5.8 64,027 49,108 14,919 5,535 14.0 211 189 22 5,181 13.1 231 201 30 1941 SUBVEY. U. S. GOVERNMENT PRINTING OFFlCEi l » 4 t
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