The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
SURVEY OF CURRENT BUSINESS
WEEKLY SUPPLEMENT
UNITED STATES DEPARTMENT OF COMMERCE
BUREAU OF FOREIGN AND DOMESTIC COMMERCE
WASHINGTON, D. C, AUGUST 15, 1940
SUMMARY OF BUSINESS TRENDS
W
HILE some diversity of movement is indicated by the July
retail sales data now available, there does not appear to
have been any considerable change in the general level of consumer purchases as compared with the preceding month. The
Reserve Board's seasonally adjusted index of department-store
sales was off to 89 (preliminary) from 91 in June. Preliminary
data on variety-store sales indicate a 2^-percent rise over June
as sales receded less than seasonally. In the mail-order field,
the combined sales of the two leading firms showed about the
usual July decrease, but sales during the month were 14 percent
above the corresponding month a year ago as against a smaller
gain in June.
Retail automobile sales in July, estimated at 365,000 units,
made a good showing for the month allowing for the early termination of the model season. Stocks of cars in the hands of
dealers were reduced by about 175,000 units during the month to
near normal proportions from an unusually high level, in consequence of the continued high volume of sales as production
dropped to a seasonal low.
Weekly data on business activity now availab
part of August show little change in general fi*om the end of
July. For the week ended August 10 automobile production
receded to 11,635 units as the changeover to the 1941 models
proceeded. From this low point output will climb steadily in
succeeding weeks as many producers begin assemblies of the 1941
models. Off 1 point from last week, steel-ingot production was
scheduled at 89.5 percent of capacity for the current period.
Ingot production is thus fluctuating moderately near the practical
limits of capacity and is not exerting any marked influence in
an upward direction on the general business indexes. At the
same time conditions in the industry do not point to any considerable drop in steel manufacturing.
In the week ended August 3, business activity was generally
steady. Electric power, bituminous-coal production, and'
freight carloadings were unchanged on a seasonally adjusted
basis, with actual volumes remaining almost stationary. Only
slight declines were registered in a number of industries for which
data are available.
SELECTED BUSINESS INDICATORS
STEEL INGOT PRODUCTION
ELECTRIC POWER PRODUCTION
(PERCENT OF CAPACITY)
(BILLIONS OF KILOWATT HOURS)
AUTOMOBILE PRODUCTION
(THOUSANDS OF VEHICLES)
FREIGHT CAR LOADINGS
(THOUSANDS OF CARS)
COMMERCIAL LOANS
BITUMINOUS COAL PRODUCTION
(DA\LY AVtRAGE - THOUSANDS
(BILLIONS OF DOLLARS) '.
OF TONS)
5.2
4.8
y^/93S
4.4
*-/940
40
3.6
i
3.2
CRUDE OIL RUNS-TO-STILLS
MISCELLANEOUS CAR LOADINGS
(MILLIONS OF BARRELS•" DAILY AVtRAGE)
(THOUSANDS Of CARS)
.
i
.
.
\
.
(NUMBER SELECTEDJOfl&PPRAlSAL ON HOMES TO BE
BUILT)
DEPARTMENT STORE SALES
PRICE INDEX OF 28 BASIC COMMODITIES
..
FH.A. HOME MORTGAGES
(SEASONALLY ADJUSTED 1923 - 25 = tOO)
(AUG. 1939 • 100)
70
I
•
1 I
I
1937
•
I
i
1938
> '
t
i
I
I
'
1939
•
'
'
'
'
'
'
'
'
'
(
'
1940
'
'
'
'
WEEKLY BUSINESS INDICATORS*
[Weekly average, 1923-1925=100]
Commodity price<\ wholesale:
D e p t . o ! Labor, 1926=100:
Combined index (813}
Farm products (67)
Food (122)
All other (624) _
Fisher's index, 1926=100:
Combined index (131)
Copper, electrolytict
Cotton, middling, spot
Construction contracts^...
Distribution: Cm-loadings.
Employment: Detroit, factory..Finance:
Bond yieldst
Stock, pricest
Finance—Continued.
Banking:
Debits, outside N. Y. C.t___
Federal Eeserve reporting
member banks:
Loans, total..
Interest rates:
Call loans*
Time loanst
Currency in circulation!
Production:
Automobiles
Bituminous coalt
Cotton consumption^
Electric powerf
Lumber
1
Petroleumt
Steol ingots©...
___
Receipts, primary markets:
Cattle and calces.
Hogs._
Cotton
Wheat
101.5 101.7 101.1 100.4 91.3 91.1 83.6 83.1
109.6 110.0 110.7 112.2 94.2 95.6 75.6 72.6
127. 2 105.8 1C4.6 83.3 84.4
77.3
65.2 60.0
fi9.1 69.6
82.3 82.4
77.6
67.3
70.
82.4
77.9
68.0
71.0
32.4
74.8
61.4
60.7
80.5
1938
Aug. Aug. July July July Aug. Aug. Aug. Aug.
12
13
20
27
10
Aug. Aug. July J u l y July Aug. Aug Aug. Aug.
12
13
27
10
20
Business activity :^ 1
New York Times!*-? Barron'scP
Business Week
1939
1940
1938
1939
1940
78.4
7o.l
68.7
62.5
67.2 72.2 73.5
80.5 81.8 81.7
81.2 Sl.C 81.8 82.5 78.1 78.6 80.2 81.0
78.3 76.8 75.4 76. S 76 8 74.6 73.2 71.7 71.7
316 35.3 30.5 31.3
37.1 38.2 38.2 38.6
87.2 89.5 67.6
50.5
75.4 75.4 76.6
6G.8 68.9 61.9 61.3
49.6
65.0
61.4 61.5 61.7 61.7 62.0 62.9 62.7 70.9 70.9
94.9 95.2 92.5 92.8 92.4 103. 3 105.5 101.9 103.2
• Data do not cover calendar weeks in all cases.
^Computed normal=100.
1 Seasonally adjusted.
©Index for week ended Aug. 17 is 153.5.
95.1 72.2 85.5
95.1
91.7 102.2 90.8
67.9
68.1 68.1 67.7 65.3
65.6 65.3
24.2 24.2 24.2 24.2 24.2 24.2 24.2 24.2 24.2
28.6 28.6 23.6 28.6 2S.6 23.6 28.3 28.6 28.6
163.4 162.7 161.8 162.1 162.5 145.8 145.6 133.4 133.3
14.8 22.1 44.3 67.4 82.9 33.2 42.7 17.5 18.8
58.1
81.0 79.6 76.8 81.2 73.7 72.2
129.1
156.4 156.1
59.9 63.0
173.2 183.0
155. 2 155.0 151.3
132.7 133.2 127.2 124.5
151.5 149.0 140.0 139.6
56.3 46.0 51.8 55.2
177.5 176.6 170.0 193.8
14S. 9 148.2 103.2 101.9
54.4 66.3 71.8 72.2 67.0
37.0 Rfl.l 40.2 47.5 34.5
36.9 25.8 22.3 24.0 26.2 54.2
87.4 130. S 248.7 337.6 390.9 104.9
66.9
35.6
58.8
110.3
120.3
128.1
48.3
166.6
66.5
114.4
127.0
50.2
164.5
67.2
76.5
38.6
31.5
157.8
74.7
34.1
22.3
174.4
JDaily average.
fWeekly average, 1928-30=100.
d*For description of these indexes, see p . 4 of the Dec. 16,1937, issue.
WEEKLY BUSINESS STATISTICS*
1940
Aug. 10
Aug. 3
1939
July 27
July 20
July 13
July 6
Aug. 12
1933
Aug. 5
Aug. 13
1937
Aug. 6
Aug. 14
C O M M O D I T Y PRICES, WHOLESALE
Copper, electrolytic, New York$__
..dol. p e r l b . .
Cotton, middling, spot, New York
.do
Food index (Bradstreet's)
__do
Iron and steel, composite
dol. per ton__
Wheat, No. 2, Hard Winter (Kansas City).dol. per bu_.
Banking:
FINANCE
Debits, New York C i t y .
mil. of dol
Debits, outside New York City (140 cities)
do..
Federal Reserve banks:
Keserve bank credit, total
do
TJ. 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. of dol. .
Loans, total§
do...
Commercial, industrial, and agricultural loans§
mil. of d o l . .
Interest rates, call loansj
percentInterest rates, time loanst
do.
Exchange rates:
Pound sterlingj..
.dollars..
Failures, commercial
number.Currency in circulation{__
mil. of d o l . .
Security markets:
B o n d sales (N. Y. S. #.)__,. thous. of dol. par v a l u e . .
Bond yields (Moody's) (120 bonds)t
...percent..
Stock sales (iV. Y. S. E.)
thous. of shares..
Stock prices (iV. Y. Times)X
dol. per share..
Stock prices (Standard Statistics) (420)
1926=100Industrials (350)
do.
Public utilities (40)
do.
Railroads (30)
_
_
do,
PRODUCTION, CONSTRUCTION, AND
Production:
DISTRIBUTION
Automobiles!
number..
Bituminous coalj...
thous. of short tons..
Electric power
mil. of kw.-hr..
Petroleumf
thous. of bbL.
Steel ingots®
pet. of capacity..
Construction-contract awardst
.thous. of dol_.
Distribution:
Freight-car loadings, total
_
.cars..
Coal and coke
do
Forest products
.do
Grains and grain products
do
Livestock
_
do
Merchandise, 1. c. 1
...do
Ore
_
__do
Miscellaneous
do
Receipts:
Cattle and calves
_
__.thousands.Hogs
__
_
.do
Cotton into sight
thous. of bales...
Wheat, at primary markets
thous. of bu..
0.108
.101
2.23
0.106
.104
2.22
37.60
.71
0.104
.104
2.23
37.53
.68
0.106
-.105
2.23
37.57
.68
0.106
.107
2.24
37.68
.70
0.108
.107
2.24
37.72
.72
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
0.138
.107
2.90
40.32
1.12
3,190
4,410
2,763
4,060
3,347
4,255
3,386
4,737
2,144
3,509
3,946
5,268
2,538
3,684
3,630
4,412
2,428
3,347
3,018
3,965
2,860
4,000
2,471
2,446
13,286
6,325
2,484
2,448
13,498
6,514
2,491
2,450
13,565
6,570
2,501
2,450
13,863
6,882
2,491
2,450
13,764
6,833
2,503
2,450
13,737
6,812
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
2,572
2,526
6,681
740
20,712
5,335
15,609
9,436
20,984
5,320
15,461
9,457
20,984
5,314
15,433
9,452
20,932
5,316
15,226
9,229
20,824
5,321
15, 222
9,226
20,510
5,331
15,124
9,202
17,551
5,251
14,118
8,530
17,462
5,243
14,078
8,515
15,009
5,193
12,412
7,669
14,951
5,193
12,395
7,655
14,914
5,229
12,414
8,209
2,569
8,492
2,418
8,517
2,419
8,514
2,415
8,517
2.416
8,461
2,405
8,462
2,259
8,156
2,241
8,166
1,650
8,199
1,646
8,165
1,176
9,917
4,446
1.00
1.25
4,441
1.00
1.25
4,462
1.00
1.25
4,464
1.00
1.25
4,447
1.00
1.25
4,438
1.00
1.25
3,917
1.00
1.25
3,887
1.00
1.25
1.00
1.25
3,865
1.00
1.25
4,548
1.00
1.25
«3.920
252
7,937
* 3.856
271
7,901
<* 3.852
233
7,857
« 3.828
288
7,874
« 3.727
261
7,890
• 3.791
259
7,918
4.681
252
7,079
4.681
277
7,068
4.878
0,479
6,475
"67566
17,660
3.54
1,509
92.15
77.6
89.2
80.8
24.8
22,210
3.55
2,231
92.49
78.3
90.1
81.4
25.2
18,240
3.56
1,275
23,730
3.56
lt635
90.16
76.8
88.1
80.6
24.6
24,010
3.58
1,527
18,400
3.60
1,385
89.61
75.6
86.5
80.0
24.4
22.060
3.63
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
28,650
4.09
4,830
100.19
89.2
107.7
74.9
27.3
3.86
4,312
133.84
121.5
144.6
97.6
51.4
11,635
17,373
34,822
1,355
2,601
90.5
1,379
2,605
3,494
90.4
53,020
1,308
2t524
3,580
86.8
13,993
05,176
1,382
2,483
3,561
86.4
14,371
51,975
1,442
2,265
3,602
74.2
26,125
1,255
2,333
3,550
60.1
10,859
33,550
1,230
2,325
3,909
59.3
13,790
1,020
2,134
3,360
39.4
8,104
14,771
989
2,116
3,318
39.8
103,250
1,290
2,301
3,719
84.6
10,980
96
6,956
75.8
87.0
79.7
24.3
88.2
76.0
87.0
80.2
24.3
90.3
108.9
75.4
28.6
4.985
718,430
133,409
36,610
41,357
9,116
150,286
68,519
279,133
718,489
132,809
36,071
46,467
9,482
148,076
68,562
277,022
729,897
131,436
34,315
52,590
10,508
147,933
70,866
282,189
740,465
137,350
31,615
56,015
11,644
146,960
69,631
287,250
636,901
113,711
25,038
47,586
8,876
127,240
65,690
248,760
665,197
124,681
31,222
40,103
11,234
153,117
49,077
255,763
656,553
117,931
31,933
42,270
11,158
154,657
44,890
253,714
589,568
95,745
29,722
47,870
11,945
148,537
24,798
230,931
584,062
95,414
28,892
51,514
11,276
149,245
22,998
224,723
773,782
126,001
40,749
42,982
14,579
166,682
74,483
308,301
172
240
67
10,403
210
248
58
19,787
227
261
64
26,854
228
308
68
31,096
172
225
57
212
224
141
8,343
212
231
153
8,773
242
251
82
12,551
236
221
58
13,873
334
150
125
14,803
® R a t e for week ended Aug. 17 is 89.5.
JDaily average.
»Data do not cover calendar weeks in all cases.
^Source: Ward's Automotive Reports.
§Data for 1939 and 1940 not strictly comparable with data for earlier years; see note on corresponding data on p . 30 of April 1939 SURVEY.
«Free rate.
MONTHLY BUSINESS STATISTICS
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data, may be found in the
1038 Supplement to the Survey
COMMODITY PRICES
Page 12
.Retail prices:
Fairchild's index:
Combined index
Dec. 31,1930 = 100..
Apparel:
Infants'
do
Men's
do
"Women's
do
Home furnishings
do
Piece goods
do
DOMESTIC TRADE
July
July
August
96.9
89.1
92.1
94.6
86.0
1,175
16,213
1940
October
ber
January
March
April
May
June
91.2
91.9
92.0
92.3
92.6
92.8
92.8
92.8
92.9
90.7
84.1
96.1
88.6
89.5
91.7
84.3
96.3
88.7
90.4
92.7
84.7
96.4
88.7
90.9
93.5
85.0
96.4
88.7
91.0
93.5
85.3
96.6
88.8
91.4
93.7
85.5
96.6
88.8
91.8
94.1
85.9
96.9
88.9
91.9
94.4
86.0
96.9
88.9
91.7
94.3
86.0
96.9
88.9
91.8
94.6
86.0
97.0
89.1
92.0
94.5
86.0
25,464
3,271
28,233
3,540
30,038
3,413
31,960
3,788
32,446
42,938
5,117
30,380
3,791
29,737
3,665
32,657
3,993
31,615
3,923
32,265
3,786
28,668
3,451
92.5
101.0
90.8
103.6
97.5
101.5
104.4
106.2
109.9
106.9
209.4
104.7
76.1
104.0
83.5
105.3
99.3
105.4
92.1
103.2
101.7
J105.J2
99.5
104.4
10,578
6S3
11,938
682
12,356
685
9,042
675
9,543
675
12,206
675
10,498
675
11,815
675
11,643
676
6,225
240
6,490
240
11,513
683
6,596
240
24,406
685
7,295
240
15,232
240
5,300
240
5,603
6,897
239
6,401
239
6,838
239
6,310
239
3,158
3,136
3,354
3,431
3,622
7,655
2,767
3,888
3,246
3,507
3,611
3,564
'200
3,470
201
3,789
201
4,090
202
4,219
202
8,163
202
3,083
202
3,134
4,069
202
3,585
203
4,300
203
4,398
202
24,340
2,015
24,123
2,014
25,810
2,015
26,530
2,018
2,019
52,333
2,020
20,512
2,017
22,117
2,015
27,545
2,016
23,774
2,014
26,067
2,015
26,020
2,015
493
7,210
494
8,235
495
8,733
495
9,316
494
491
5,931
492
6,109
492
8,101
492
7,620
492
8,787
492
8,911
492
19,504
20,679
26,143
28,722
28,215
43,216
18,292
16,032
21,469
21,181
97
133
83
102
96
115
90
116
97
74
118
99
138
85
168
230
140
164
171
195
154
160
172
139
217
156
179
96
135
98
100
113
105
95
76
94
104
71
93
69
75
70
86
67
81
74
52
84
69
80
92
118
94
93
113
102
94
72
87
98
71
111
53
74
73
91
70
70
69
53
83
73
91
142
98
92
104
104
93
74
92
95
116
94
116
104
80
132
96
103
90
116
89
94
103
97
91
69
85
99
106
142
88
99
107
117
88
97
115
95
131
102
105
95
125
90
100
104
94
97
78
87
100
126
92
93
107
97
86
70
85
99
1,043
10,545
1,234
17,404
1,184
13,201
1,153
13, 243
1,237
15,279
1,042
13,472
95.9
88.4
88.9
90.6
84.1
60
88
49
61
63
72
61
69
63
46
73
62
81
86
126
85
86
103
97
1,153
14,999
96.0
88.4
114
55
77
73
83
79
89
67
50
86
70
94
89
146
95
88
107
102
90
67
94
100
1,126
12,637
690,209 -590,225 460, 667 180,018 742, 711 218, 420 335, 061 286,809
396,071 '317,580 112,031 41,669 338,340 88,920 98,421 94,251
294.13S 272,645 348,636 138,348 401,370 129,500 236, 640 192,559
270,612 230,373 343,357 95,214 177,771 112,475 226,345 172,865
16,019 20,297 21,640 30,528 35,405
44.9S9 49,703 25,895
6,057
7, 658 14,088 13,913
1,099
9,800 17,045
3,772
5,510 18,184
1,505
2,185
125
1,030
11,012 25,945
225,623 180,670 317,463 79,195 157,474 90,835 195,817 137,450
0
15,215
12,000
3,443
600
93,628 96,124 20, J23
117.460 r 81.019 250,835 23,965 147,052 76,840 119,200 101,36S
3.57
ary
*
90.2
92.9
Pages 27, 28,29j
Postal business:
Eeceipts, postal:
50 selected cities
thous. of dol.. 27,626
50 industrial cities
do
3,565
Retail trade:
Chain-store sales:
Variety-store sales:
Combined sales of 7 chains:!
Unadjusted.
1929-31*= 100. _ *98.1
Adjusted..
„
..do
p 107.0
S. S. KresgeCo^r
Sales
thous. of dol..~ 10,458
677
Stores operated
_..number..
S. H . Kress & Co.:
6,514
Sales
thous. of dol.239
Stores operated
number.^
McCrory Stores Corp.:
3,334
Sales
..thous. of dol.~
G. C. Murphy Co.:
3,966
Sales
__
_
do
202
Stores operated
number..
F. W. Woolworth Co.:
Sales
thous. of doL_ 24,507
2,013
Stores operated
number..
Other chains:
W. T . Grant & Co.:
Sales
thous. of dol..
492
Stores operated..
number, _
J. C. Penney Co;:
Sales
_
thous. of dol.. 20,882
Department stores:
Sales, total U. 8.,unadjusted.l92&-25«100-_
Atlanta
_
__
do.
Boston
_
do.
Chicago
do
Cleveland
do
r
Dallas.
do
Kansas City
1925=100..
Minneapolis...
1929-31=100..
New York
1923-25=100.
Philadelphia!
...do...
Richmond..
do...
St. L o u i s . . .
do._.
*>83
San Francisco!
do
P89
Sales, total U. S., adjusted
do
P130
Atlanta
.
do.
Chicago
do
Cleveland!
do.
PIOS
Dallas
_
do.
Minneapolis!1929-31 =*100_.
New York
1923-25=100_.
Philadelphia!
do.
St. Louis
do_
San Francisco!
do
FINANCE
Pages 57, 53t 70, 71, 75, 76
Commercial failures:!
Grand total
number..
Liabilities, grand total
thous. of doL
Capital flotations:
Securities issued by type of security, total
thous. of dol..
New capital, total.——.
do—
Refunding, total
do.-.
Securities issued by type of corporate borrower, total.-.
thous. of dol._
New capital, total
do
Industrial
do
Public utilities
do
Refunding, total
do—
Industrial...
_
do
Public utilities
_.-do
Security markets:
Bonds:
Yields (Moody's):
Domestic (120 bonds)
percent..
By ratings:
Aaa (30 bonds)
do
Aa (30 bonds)
do
A (30 bonds).
do
Baa (30 bonds)
do.-By groups:
Industrials (40 bonds).-.
..do
Public utilities (40 bonds)
do
Rails (40 bonds)..
do
1939
1940
3.66
3.67
24,737
89
129
74
93
94
105
86
100
85
74
120
88
95
87
127
92
87
105
100
88
74
••87
113
'75
--92
'93
'90
76
'97
'89
73
'112
94
91
112
90
89
71
92
102
86
118
71
91
90
. 99
85
100
83
65
105
90
90
89
119
92
88
103
101
90
'69
92
96
1,197
11,681
1,291
16,217
1,238
13,068
1,114
13,73-i
450,801 240,633 344,896 250,144
103,959 71,213 117,609 122, 111
346, S42 169,419 227,287 128,033
226,457
81,861
144,596
256, 246 134,327 246,279 171,947
45,404 30,527 53,925 89,2S7
6,094
1,201 22,598
5,249
0
8,407 16,767
7,015
210,842 103,799 192,353 82,660
115,000 21,250 50,943 78,200
1,500
89, S97 32.269 41,23fi
111,616
9,339
2,826
3,785
136
69
92
86
110
87
93
82
69
110
91
95
'91
125
'94
'95
'102
'97
'92
'75
'89
'97
102,276
2,500
94,020
3.95
3.83
3.70
3.63
3.60
3.58
3.54
3.65
3.72
3.00
3.16
3.78
4.85
2.94
3.14
3.74
4.92
2.88
3. OS
3.69
4.86
2.86
3.05
3.68
4.83
2.84
3.04
3.65
4.80
2.82
2.99
3.59
4.74
2.93
3. OS
3.65
4.94
2.96
3.10
3.70
5.11
3.25
3.41
4.44
3.21
3.38
4.47
3.14
3.35
4.39
3.12
3.33
4.37
3.09
3.29
4.37
3.05
3.24
4.33
3.20
3.30
4.49
3.25
3.33
4.57
2.88
3.01
3.57
4. SO
2.89
3.07
3.83
4.84
2.93
3.11
3. SO
4.85
3.25
3.49
4.05
5.00
3.15
3.35
3.94
4.88
3.15
3.23
4.32
3.17
3.39
4.42
3.21
3.40
4.41
3.57
3.70
4.58
3.43
3.57
4.51
» Preliminary.
tt Revfsed
fd series. The index-of variety-store sales revised begm£mTl929, these will appear in table 30, p . 10, of the August 1940 SURVEY. Indexes of departmentstore sales in the San Francisco area revised beginning 1919, see table 3, p. 18, of the January 1940 SURVEY. Seasonally adjusted indexes of department-store sales revised
beginning 1920 for the Cleveland district and beginning 1934 for the Minneapolis district, see tables 4 and 5, p . 18, of the] January 1940 SURVEY. Indexes of department-store
sales in tho Philadelphia district revised for 1923-39, see table 7, p . 10, of the March 1940 SURVEY. Data for commercial failures are now presented on a new basis, see footnote marked with a "f" on p . 39, of the July 1940 SURVEY.
MONTHLY BUSINESS STATISTICS—Continued
Monthly statistics through December 1937, together with explanatory notes and references
to the sources of the data, may be found in the
1938 Supplement to the Survey
1940
July
1939
July
August
Se
1940
m
g ^ " October
ber
fcer
January
F
u
! ^ * March
April
May
June
FINANCE—Continued
Security Markets—Continued
Stocks:
Cash dividend payments and rates
(Moody's):
Annual payments at current rates (600
companies)
mil. of dol.» 1,694.82 1,391.46 1,422.99 1,423.82 1,442.45 1,573.05 1,589.37 1,597. 25 1,618.60 1,631.30 1,643.66 1,6S0.36 1,690.37
Number of shares, adjusted
millions.. 936.43 935.03 935.03 935.03 935.03 935.03 936.43 936.43 936.43 936.43 936.43 936.43 936.43
Dividend rate per share (weighted aver1.52
1.68
1.54
1.52
age) (600 cos.)
dollars..
1.79
1.76
1.73
1.81
1.74
1.71
L49
1.70
1.81
3.01
3.01
3.01
3.01
Banks (21)
do.
3.01
3.01
3.01
3.01
3.01
3.01
3.01
3.01
3.01
1.42
1.61
L45
1.42
Industrials (492 cos.)
do
1.75
1.70
1.67
1.68
1.63
1.38
1.77
1.63
1.77
2.39
2.39
2.39
2.39
2.44
2.64
2.64
2.54
Insurance (21 cos.)
do
2.64
2.64
2.39
2.53
2.44
1.94
1.95
1.95
1.95
l.Qfi
:i.96
1.96
1.95
Public utilities (30 cos.)
do....
1.95
L95
1.94
1.95
1.96
.90
1.29
1.25
.90
.90
Rails (36 cos.)
do
1.27
1.27
1.26
1.26
1.26
.87
1.25
1.29
METALS AND MANUFACTURES
Pages 131, 133,138
Pig iron and iron manufactures:
Pig iron:f
Production
thous. of short tonsSteel, crude and semi-manufactured:
Ingots, steel:t
Production
thous. of short tons.
Percent of capacity.__
Nonferrous metals:
Zinc:
Production, slab, at primary smelters
short tons.
Retorts in operation, end of mo
number.
Shipments, total
short tons.,
Stocks, refinery, end of mo
...do...
4,054
2,639
2,979
3,224
4,063
4,167
4,221
4,032
. 3,311
3,270
3,137
3,514
3,819
5,595
84
3,565
56
4,242
61
4,769
72
6,0S0
91
6,148
92
5,822
91
5,655
82
4,409
69
4,265
64
3,975
4,841
70
5,533
S6
51,944
47,545
57,661
59,510
39,669
35,491
43,128
131,782
40,960
34,443
49,928
122,814
42,225
37,729
69,424
95,615
50,117
43,109
73,327
72,405
53,524
46,867
64,407
61,522
57,941
4S, 159
53,468
65,995
52,399
47,287
54,862
63,532
• 52,774
47,188
51,050
65,256
'55,475
'49,744
•49,909
1
70,822
52,189
49,805
46,803
76,208
51,518
48,989
' 57,224
70,502
• 48,660
46,577
53,935
65,227
145,064
110,659
99,664
102,031
84,327
71,803
76,120
12,113
7,436
TRANSPORTATION EQUIPMENT
Page 160
Automobiles:
Sales (General Motors Corporation):
To consumers in U. S
number..
T o dealers, total*
do.._.
T o U. S. dealers
do....
56,789 110,471 162,881
53,072 144,350 200,071
47, 606 129,821 180,133
June
June
108,237
111,690
84
104,687
104,607
85
78,443
218,998
47,525
171,473
174, 625 183,481 165,820 173,212
193,522 196,747 185,548 167,310
181,066 183,900 171,024 151,661
1940
1939
1940
FUELS AND BYPRODUCTS
Pages 119,120,121,122
Petroleum and products:
Crude petroleum:
Consumption (run to stills)..thous. of bbl.
Production
...do.-Reflnery operations
__pct. of capacityStocks, end of month:
California:
Heavy crude and fuel
thous. of bbL
Light crude
..do...
East of California, total
.do...
Refineries...do.—
Tank farms and pipelines
_do_._
Refined and petroleum products:
Gas and fuel oils:
Production:
Residual fuel oil...
do...
Gas, oil, and distillate fuels, total-do...
Stocks, end of month:
Residual fuel oil, east of California
thous. of bbl_,
Gas, oil, and distillate fuels, total
thous. of bbl.
Motorfuel:f
Demand, domestic
_do._.
Production, total
do...
Benzolf
-do
Straight-run Rasoline
.do...
Cracked gasoline
do
Natural gasoline
do...,
Natural gasoline, blended
do...
Gasoline: t
Stocks, end of month:
Finished gasoline, total
.-_...do
At refineries..
_
do
Natural gasoline.
do
Kerosene:
Consumption, domestic. _
do
Production
do
Stocks, refinery, end of month
do
Lubricants:
Consumption, domestic
do
Production
_
do
Stocks, refinery, end of month
do
156,008 120,809 123,874
207,637 181,088 174,572
188,839 164,925 160.458
July
DecemFebruAugust SeptemOctober NovemJanuary
ary
ber
ber
ber
March
April
May
106,899 107,632 105,505 110,980 104,916 105,835 106,530 101,766 110,079 106,979 111,817
110,937 80,865 108,168 114,198 111, 887 114,810 113,140 108,668 120,075 116,045 118,283
82
81
84
84
81
85
81
S3
81
85,655 84,039 82,927 82,718 81,112 80,223 79,380 79,047 78,440 78,866 78,359
38,427 38,072 37,372 35,533 35,129 35,478 35,567 36,110 35,943 36,000 35,782
223,558 192,985 189,341 187,579 191,164 195,836 196,407 200,704 207,407 214,321 218,492
39,162 40,212 40,871 42,119 45,183
41,463 41,817 37,441 35,781 36,922 39,427
184,999 181,741 155,544 153, 560 150,657 151,737 155,803 157,245 160,492 166,536 172,202 173,309
85,049
38,902
25,372
15,260
26,548
14,541
19,160
18,475
19,116
18,541
20,310
23,112
37,557
47,596
231
20,409
22,777
4,179
3,067
44,607
51,230
237
21,774
24,730
4,489
2,986
47,683
50,625
228
23,082
22,901
4,414
2,783
52,946
52,183
247
24,823
4,587
3,075
84,863
60,420
4,476
92,721
68,227
4,757
96,467
70,274
5,393
96,615
69,407
6,112
93,474
65,871
6,514
6,613
5,822
7,576
7,642
5,375
4,918
6,263
5,945
4,302
6,273
6,570
4,114
5,621
6,257
4,351
5,297
6,641
5,309
1,825
3,478
7,142
2,054
3,308
7,328
1,522
3,108
7,825
1,883
3,335
8,084
2,138
3,280
8,065
2,063
3,341
8,170
27,594
15,017
13,757
26,944
14,433
28,082
16,548
24,680
16,202
26,870
16,346
26,249
26,109
24,018
20,881
18,764
19,130
30,018
30,951
30,179
26,374
21,057
19,615
53,828
52,161
210
22,371
26,180
3,400
3,092
49,347
51,890
225
21,833
25,700
4,132
3,237
49,687
54,974
259
23,611
4,481
4,358
47,275
52,691
267
22,415
25,621
4,388
4,286
43,694
52,351
275
22,017
25,589
4,470
4,018
40,370
50,243
272
21,709
23,991
4,271
3,285
71,824
44,196
7,123
66,448
41,046
65,498
41,423
5,891
68,116
43,516
5,140
71,619
46,898
4,579
77,301
51,920
4,421
3,570
5,439
7,949
3,710
5,390
8,855
4,436
5,783
9,361
4,638
5,806
9,952
5,019
6,141
9,967
6,023
5,642
9,019
1,902
2,800
7,427
1,982
2,755
7,179
1,963
3,056
7,069
2,207
2,854
6,704
2,656
3,575
1,927
3,277
6,799
25,644
12,688
25,299
13,246
12,975
22,480
25,025
26, 111
25,659
27,581
29,282
49,812
50,861
174
21,782
24,810
4,095
50.508
51,896
191
22,502
25,028
4,175
2,909
86,276
59,708
7,000
74,395
47,972
6,749
3,952
5,785
6,810
2,146
3,212
8,161
25,469
14,154
24,836
13,530
26,412
55,459
51,325
263
22,422
24,239
4,401
2,600
^Revised.
* New series. Data beginning 1919 are shown in table 10, p. 12 of the March 1940 SURVEY.
t Revised series. Data on pig-iron and steel-ingot production have been converted to a short-tonnage basis. Earlier data for pig iron will appear in a subsequent issue;
for steel-ingot production on the new basis beginning 1913 see table 26, p. 17 of the May 1940 SURVEY. The gasoline statistics have been rearranged and data on the production
of benzol added; with this series included it is possible to derive figures of total production of motor fuels. Data on benzol production beginning 1925 appear in table 52, p. 18
of the November 1939 SURVEY.
U. 5 . GOVERNMENT PRINTING OFFICE: 1 9 4 0
@FedFRASER