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SURVEY OF C U R R E N T B U S I N E S S
WEEKLY SUPPLEMENT
U N I T E D STATES D E P A R T M E N T O F C O M M E R C E
B U R E A U O F F O R E I G N AND D O M E S T I C
COMMERCE
AUGUST 2 0 , 1948
AVAILABLE ONLY WITH SUBSCRIPTION TO SURVEY OF CURRENT BUSINFSS
SELECTED
BUSINESS
INDICATORS
STEEL INGOT PRODUCTION
ELECTRIC POWER PRODUCTION BY UTILITIES
( 1 9 3 5 - 3 9 » 100)
250
WE SKI Y
(BILLIONS OF KILOWATT HOURS)
DATA
1948
2001
•*•"""** """"s?^
150
A
p&V 7
100
_. .. /
\
1JL
A
\ /
\
srm.it: nrmop ^ » /
DATA HOT PLOT TCP
5011
t.
/
..11.. 1 . . J _L.l. J_JL_iJ. i-L-J-1.
I..J 1 1 J 1 ,1 1 l„.l. 1I I
M
M
L
-
M
I
M
,
I I I t I I 1 I 1 I
PRICES O F 3 6 5 INDUSTRIAL STOCKS
D E P A R T M E N T STORE S A L E S A N D S T O C K S
{1935-39 • 100)
350
WEDNESDAY CLOSE
A
af
jti^\
AA
i
1 .. 1 1 1 1 1
1 i
1
WA ^ / ^ v
! . . L - L . l - 1 - ,1. 1 1. 1 1
M i ,1 ,l„.l
L I , 1-1 i . l
-
/H
s
V
1 ,1 • i
i
i • i
A
j / ^ ~ ~
1 i i
\mn\\
i •• i
BUSINESS
7TTT> T T , .
STOCKS
INN
o
• . . .1926»100..
...do....
do....
•
dO....
28 coasoaltias 2/
August 1939*100..
Cotton, middling', 15/l6s, 10 aarkets ]J
dol. per lb..
Wheats Ho. 2..Hard Winter (K&ngas City)
dol. per 1m,..
Depertsnant store sales
....
..
1935~39*»100. .
Insured unaaployaent, total 4/.
*
thous.
State progrsasa.
...... ....do....
Y©tarsuss progress
do...,.
.finances
Currency in circulation J$/
«• • •
»il* of del..
federal Eeserve bank: credit,, total
.do....
lAtaa.'besr fe>*flK ru'»WTi» *»*X&»aS5» . . . . . . . . . . . . . . . . . . - r. . - -,
.An, , - .
Sxodsa reserves, estiu&ted
•.
do....
federal Reserve reporting a©aY>«r banks in leading cities*
Sank debits, total
mil. of d o l . .
Xew Tork City
do....
Deposits, deaand, adjusted.
...do....
Loans and investments, tot&l
«
.do....
U. 3 . Government obligations
do....
Ccsaoercial, industrial and agricultural loans...-.. . d o . . . .
failures, oonaerclal
•••«
nuaber..
Bond yields, doaostlc corporate (Moody's) 3 /
percent..
Stock prices, 4l6 stocks (Staad.and Poor's) 6/..1935-39*100..
Industrials. 365 stocks 6/
do....
Production:
Bituminous coal 5 /
thous. of short tons..
Electric power, by u t i l i t i e s
a i l . of kw-hr..
Motor vehicles (Wards) 2l
•
.nuaber..
Fetroleua V
thous. of b b l . .
Steel 8/
1935-39-100..
freight carloadiags, total
fthous.
of cars*.
Miscellaneous
»
.do... •
152.2
181.2
171.1
135.2
307.1
.356
2.29
1,W
1.079
727
. 1 1 , I.I
, 1 , . | ....
1 1 1 1 1 1- 1 J. 1 1
1
STATISTICS1
1943
1947
Aug. 9
CoiasiOdity prices, wholesale*
All commodities
#aras products.*
Jood
SALES
250
ITS!
e
DATA
300)
WEEKLY
A l l 01167
(SEASONALLY AOJUSTEO, 1 9 3 5 - 3 9 - 1 0 0 )
MONTHLY
Aug. 16
July 17
July 24
152-7
181.4
172.3
135.4
305.5
.345
2.29
225
1.799
1.039
723
168.9
198.1
191.2
150.4
324.5
.341
2.21
168.2
194.6
190.4
150.6
323.8
•335
2.19
231
1,421
1,001
394
I68.3
192.2
187-7
152.1
324.8
.33?
2.16
235
1.377
962
389
169.2
193.6
190.0
152.4
319.7
.323
2.12
258
27,866
21,688
17.5p3
27.852
21,723
17,534
837
27.943
28,216
22,211
165U09
741
28,228
22,42*f
17.830
16,868
6.298
46.574
63.513
38.588
12.238
78
2-79
124.4
130.0
1.958
4,923
79.081
5.159
16,U28
779
l.4o3
1.035
403
27,960
22,139
17.631
947
20,5¥f
840
July 3X
**. 7
3:S
780
l a g . 14
318.8
2.1b
27.982
22,064
17.834
1.054
20,569
19.771
7.922
7.000
8,390
7,120
7.764
46,809
46,451
46,777
46.839
63.629
5/62,858
5/63.083 5/63,168
38.735
35.023
/3 4.656
34,870
12,092
5/14,481
5/14,490 5/14,627
116
91
60
98
3.07
3-09
3.02
2.79
3.05
125.?
134.4
128.8
125.7
130.0
131.6
141.7
135-3
131.6
136.9
2,042
2.037
2,026
1,968
2,078
5.342
M74
5.197
5.319
5.352
78,105
113.275
1071316
108,948
111,690
5.105
5.448
5.505
5.455
I83.3
186.0
"i9i.6
188.0
190.2
893
905
188.0
883
390
879
372
372
694
382July 13,376
1/ Bata do not always cover calendar weeks. 2/ Siursday prices. 3 / Daily averages.
1946 issue.
397 4/ l o r description see note in
2feta beginning week ended July 3, 1948 are loans reported gross, i . e . , before deduction of reserves, instead of net as previously.
6/ Huaber of stocks in index currently, the change in the nuaber does not affect the continuity of tiie series* 7/ United States production
of actor vehicles (passenger oars, coaaereial oars, and trucks). 8/ Week ending August 21, 191.8.
H
"S
21.765
ft>32
46.726
5/6:3,175
34.879
5/14,502
91
3.05
128*9
135.6
2
MONTHLY
BUSINESS
lerlier data are available in monthly issues of the Survey
and the I$*2 Supplement
STATISTICS
i9*r
19*8
July
June
April
Hay
June
QKNIBAL BUSINESS ODICAIOES
1
Manufacturers sales, inventories, and orders*
Sales*
Value, total.
nil. of do*.
Durable goods induetriee•
•
.do.• •
Honourable goode induetriee.
..do...
Index, total
.
...avg. mo. 1939.100.
Durable goode induetriee
•......do...
Iron, eteel, and products
do...
Honf errous metals and products..
• .do. •.
Electrical machinery and equipment.............do...
Machinery, except electrical.....
......do...
Automobiles and equipment......
...do...
Transportation equipment, except autos
.do...
furniture and finished lumber products.........do. •.
Stone, clay, and glass products.
••
do...
Other durable goods industries......
.....do...
Honourable goods industries.•• •
do...
food and kindred products.
.
do...
• Beverages*
do...
Text l i e - m i l l products, excluding a g f f t s r s l . . . . . . . d o . . .
Leather and products.
.'•*.-**.•.........*.;....do.•.
Paper and a l l i e d products. • •
.do...
Printing and p u b l i s h i n g * . . . . . . . . . . • , . . . . . . . . . . . d o » » .
Chemicals and a l l i e d products
do...
Petroleum and coal products.
do...
Bubber products
do...
Tobacco manufactures
*
.do. <.
Other nondurable goods...
,....«.do.».
Inventories, book-value, end of month.
Value, total
...mil* ©f d@l.
Durable goods
•••«..><i@*
nondurable goods.
*
...da...
Index, total
. . . a v g . m, \3Jfc>VZ&.
Durable goods industries
•
. * «&®c. •
Iron, steel, and products
,
• .&©•-*.
lonferrous metals and products
.do. «,.
Electrical machinery and equipment
do. P *
Machinery, except electrical
do* *
Automobiles and equipment
do...
Transportation equipment, except automobiles...do...
furniture and finished lumber products
do.•.
Stone, clay, and glass products
...do...
Other durable goode
do...
Honourable goode induetriee
do. • .
food and kindred products.«....
do..•
Beverages
do...
Textile-mill products, excluding apparel
do...
Leather and p r o d u c t s . . . . . . . . . .
do...
Paper and allied products
Printing and publishing..
Chemicals and allied products
Petroleum and coal products
Bubber products*. •
Tobacco manufactures.
Other nondurable goods.
Hev orders.
Index, total
Durable goode
.
Iron, steel, and products
Machineryt_ including electrical
Other durable goode, excluding trans*
Honourable goods
••
•
do...
do...
do...
do...
do.•.
do. • •
do.. •
.do.. •
do.. •
°
do.. •
do.. *
equip....do.••
. .do...
COHSTB0CTIOH AHD BKAL ESTATE
Contract awards (Engineering Hews-Record)1
Engineering construction, value l / . . . . . . . •thous. of dol.
Construction cost indexes*
Associated General Contractore ( a l l typos)
.191>10O.
Engineering Hews-Eecord*
Building cost
*
do...
Construction cost ( a l l types)
*
do...
DOMESTIC TBADE
Department store sales. United States t o t a l s :
Unadjue ted 1 ndex.
1935-39-10O*
Adjusted index.
...
do. • .
EMFLOIKENT CONDITIONS AHD VA&ES
Labor turn-over i n manufacturing eetabilshmsnts*
Accession rate.
monthly rats per 100 employees.
Separation rate, t o t a l . . . .
do...
Discharges.
»* *do.
Lay-off s
d© - • .
Quits
•
•••*
*o...
Military and miscellaneous,
...do...
TJ Revised.
£ / Preliminary.
I5.O63
*295
32*
306
376
39*
w
50s
208
266
292
279
222
15
i
2*2
30*
25*
322
237
257
26,*79
2*6
266
192
$
271
**3
630
203
161
195
230
19k
33*
2a
206
229
s
l*,36l
5.5*5
6,816
2|0
265
310
331
27s
3*5
390
215
223
&
262
286
281
3
268
216
280
258
298
223
221
26,6*6
13.015
13.«31
2T0
197
25f
31*
sz
63©
6.8*8
IO.36*
32*
rl6 f 787
r6,6l3
rl© # 17*
T328
353
'353
3
256
27*
255
307
29?
29*
M
sDO
1
318
312
29.1*9
13.660
15.U69
271
26*
206
262
388
297
*72
632
205
161
204
23*
208
316
223
204
261
236
359
£
276
*2*
16*
268
W
l
1
3*2
253
316
29.8*8
13.819
16,029
278
287
as
261
395
6*1
T
1901
596,332
321
422.9
**7*9
39-3
55-8
r220
r267
287
30*
300
3K>
'269
'313
*.0
*.0
*-3
•3
1.1
2.8
.1
v5*5\
295
306V
317.8
ai
5-5
1.1
3-1
.1
189
265
m
I,
535.18*
52*. 238
29*
h
nil
27*
' 2711
315
318
3*7
321
5I7.I75
266
2*9
r262
'39*
^297
??*79
¥630
2£
5*2
777.159
s
301
231
260
271
328
194
213
5l3.
r29.*50
'13.773
'15.<
5.677
27*
r266
>»55
579
230
m
245
271
36k
315
202
230
293
r338
271
327
'337
r328
r233
'313
w
271
233
377
259
259
293
*35
290
203
287
228
372
262
309
336
337
258
235
293
229
332
252
292
320
309
2*6
228
So
r538
*19
*3|
r*01
r*66
2*8
r263
r26l
r31*
r3a
266
17.830
7.227
10,603
.*
1.0
3-1
.1
k
:l
1.2
3.0
.1
256
251
287
r*23
r286
rl9*
'305
225
r3*8
r2**
r267
r262
r2S4
*e&
1/ Data for July 19*7 and April and July 19*8 are for 5 weeks: other months, * vases.
332
*2.*
$63.21
p**2
P.*
P.9
p2.8
P.ll
MONTHLY
BUSINESS
Earlier data, are available in monthly issues of the Surrey
and the 19*2 Supplement
3
ST A T 1ST I C S — Continued
19*7
June
1$*8
July
June
April
flHAICl
: debits, total (1*1 cant art)
law Tork City
Outside Hew lork City
Bonds:
Tlaldat
.ail. of dol.
*©•••
....do...
Domestic corporate, Moody's
By ratings:
Am*
.
.percent.
4o...
.do...
.do...
By groups:
Industrials
Public u t i l i t i e s
Bailroada....
Stocks:
..
Dividend yields: 1/
Common stocks (200), Moody'a
(15 stocks)..
Industrials (125 stocks)
Insurance (10 atoeka)
Public u t U i t l a a (25 stocks)
Bailroada (25 atoeka)
do..
do..
Ao..
rv >
•
do...
do...
— • .do...
..do*..
do...
do...
CHEMICALS ABD ALLIED PBOSOCTS
Paint sales:
Calcimines, plastic and cold-water paint at
Calcimines
thous. of dol.
Plastic-texture paints
do...
Cold-water paint at
In dry form
do...
In paata form, for interior use
Paint, varnish, lacquer, and fillers:
Total
Classified, total
Industrial
Trade
Unclassified..
83.957
3*.779
*9.178
91.6*6
37.955
53.691
87.226
35.*29
51.797
ss
2.&V
2.80
3-05
3.02
r3«00
£8
1$
2.78
2.87
3*08
2.76
2.86
3.06
3.38
2.82
2.95
3.27
2.76
2.85
8*.897
9X
2.S3
3-a
2.60
2*72
3.10
3-*7
2.62
2.72
3.06
2.85
2.97
3-3*
5.01
*.*i
3.58
5.51
5.89
5.*6
*.50
5*50
3.29
5-87
5.55
86
180
25*
*7
92
227
*01
r*l,
r382
. Mi
23
10*
as
*32
*07
.do...
do...
do...
do...
do...
do...
2.82
3.18
92,63*
82,973
31.7*1
86,700
77.87*
J0.018
*7.856
8,825
332
96,961
5
1$
5.26
*.*3
- - 5*283.0|
r5«5o
5.a
33
2.80
2.96
*3-23
5*3©i
5*68
5.30
r99.07?
»89.53*
r3l.?09
r57.626
*9.5**
POOBSTUff3 AID TOBACCO
Livestock slaughter (federally inspected):
Calves
thoua. of animals.
Oattla
do.
.do.
Boss.
Sheep and lambe
•.
do...
Stocks, cold storage, and of month:
Apples, fresh
thous. of on.
Butter, creamery
thoua. of lb.
Cheese, total
do...
Sttot
Shell
thoua. of caees.
frozen
thous. of lb.
fruits and vegetables, frosent
fruits
do...
Vegetables
•
do...
Total meats 2/
do...
Beef and Teal
do...
Iamb and mutton.
.....
...do...
Pork, tdtai
.•...do...
fresh and cured
do...
1*3:4
„
do...
Poultry.
....
Sugar, U. S., daliveriee and supply (raw value):
Deliveries, total
...short
for domestic consumption
Production, domestic, and receipts:
Sntriea from off-shore areas
Production, domestic cane and b e e t . . . .
Stocks, raw and refined
6a
1.207
3.653
1.323
656
1.27*
3.*55
1,280
329
6
.1,625
363
620
1.109
550
509
3.3*3
1,0*5
3.562
978
*.gs
Ji: ^
219
83,286
185,202
*:**9
105.263
1.855
18,638
123.507
r392
*53.073
rl65,201
*.203
237.303
*,268
2*1,573
i.091
195.95*
>.9?3
B.57*
do...
332.3*5
251.W7
771.92*
U*.56S
9,3*8
528.08*
352.81*
I75.g5
171,26©
37*.3&>
307.57*
7*2,709
101,732
8f0S5
5?5.*82
331.7*f
193,736
17*.627
2*7.895
176,118
990,371
12©,898
8,H66
T*j.751
6o6sS27
IJS,$3&
153.*2*
tone.
do...
1,0209**8
i,ooo,*03
80*,200
765.1**
562.391
557.910
599.958
595.61*
818,181
81*,200
do.. •
do...
do...
5**.2*3
3*.590
1,138.00*
719.956
38.992
1,106,0*3
**5,309
1,8*2,886
512.510
25,222
1,782,*8*
*?2.872
*6.339
1.501.938
3.139
700
2.*39
7*6
2.538
1.262
r2ol!7*8
r280,7**
rl81,526
r960,07*
r88,705
r763i82J
r582,*96
rl81,327
r99.507
LIKBSB AMD MAIUTACTUBBS
Lumber (national Lumber Maaufaeturere Association):
Production, total
.mil. of bd. f t .
Hardwoods
do...
Softwoods
do...
Shipments, t o t a l . .
do...
Hardwoods
•
do...
Softwoods
do...
Stocks, gross, end of month, total
do...
Hardwoods
do...
Softwoods
do...
*'%
2.207
5.7*3
2,085
3.^58
rj Barisad. 1/ lumber of stocks in index currently; the change la the
edible offal, canned meats and meat products and sausage room products not
July 19*8 Surrey.
2.237
5.961
2.171
3.790
3.035
703
2.332
2.997
738
2.259
5.773
2,008
3.765
3
'$
2.*1§
3.077
752
2.325
5.805
3.87*
3.269
2.516
*$
2.*11
5.9*2
1.969
3.973
does not affect the eestiaaity of the series* J/ Imelm&ee
separately. £/ See note on corresponding item la the
4
MONTHLY
BUSINESS
l a r l i e r data are <s*rail&bls in monthly issues of the Survey
end the 1942 Supplement
C&flUnss, «ray iron:
Shipmate, total
ffor sala
Orders, unfilled, for sale, end of aonth
Barrels and druas, steel, heavy types:
0rd?}r«, unfilled, «c\& of aonth
Production
Shipne^tfi
«•
Stocks, end of aonth
Coppers
Production:
June
July
April
June
my
1,038.356
596.874
2.710,854
912.939
519.137
2,675.138
1.051,Of3
584,969
2,690,893
992,692
555,728
2,601,626
1,072,040
597.624
2,587,081
thoueands.
do...
do..
13,632
2.255
2,253
23
13.255
2,188
2,185
26
11,471
2,281
2.290
24
10,810
2.016
r2,019
22
11,104
2,242
2,244
20
82,33**
103,474
116,678
82,542
79.152
94,610
109.822
77.773
8S,7*1
104,044
116,475
67.257
r91,819
104,524
113*389
72,791
rS7.678
105;221
111.927
73.065
25.818
26,342
50,824
20,506
21,045
50,285
14,113
19,69?
65,676
22,745
19.-752
6S..669
25,9*1
15.779
78.831
*,*72
4,698
2.909
4,302
4.032
3.179
4,740
4,79*
3.015
5.17S
5.2*3
5,228
658.9
426-1
412.0
388.5
2.999
3.1**
4,312
3,724
short tone.
do..
Deliveries, refined, domestic
do...
Stocks, refined, end of no nth
do...
Boilers, radiators, and convectors, east-iront
Boilers (round and square)1
Production
thous. of lb.
Shipments.
do..,
Stocten, end of aonth...
1948
1947
short tone.
.....do...
...do...
do..
Mine or smelter
fieflnery..
S T A T l S T !C S —Continued
do..
Production...... .0
thous. of so., ft.
Ships&ente
.do..
Stocks, er.d o-.C month
do..
foundry equipBeat, »sv orders, net»
Hew oquipeienfe
1937~39«100.
Pumps, otaem, power, ccmtrifugal and rotary*
Orders, new
•
.thous. of dol.
At publishers
In transit to pubis, share
VWtmUBM
...short tons.
do..
do..,
355,606
375.49s
90,431
379,735
379,0^
91,057
385.606
380..P43
do..
do..
do..
292,664
67,268
66,743
263,693
67,656
68,955
do..
11,951
22g,J93
71,664
10,652
278,918
6s,4oi
40,029
33.705
71
7,586i
627
6.366
«.3«5
742
992SS
6,324
202
38,661
do..
do..
376.8
3.512
JTAPKR A3D PEBreiMG
Hewsprlnt, Canada*
Production
Shipments from nil Is
Stocks, at mills, end of month
lewsprint, United 3t*vtasj»
Consumption by pttbll»Kb.©rs.
Production..
Shipasnte free*, mills
.
•Stocks, end of month:
At M i l s
3.079
388.461
397i706
84,222
382,937
383.59*
83.565
•342*572
65,371
69,199
6.47s
266,66^
6SS644
348,823
72.659
71.553
327,060
72.075
72,4*1
7,584
282,202
89,083
7.218
29*.728
73.363
34 r 0il
23,600
389
6948S
6*9
6,919
7*0*4
S19
7.292
494ll
P39.169
*33.5*1
r90S
8,185
692
7.112
7,766
822
rSp056
5,628
38,931
32,988
851
8,036
690
7,520
7,*32
798
7,661
93**67
AKD COAL P B O D U C W
Bituminous coal:
Industrial consumption and retail deliveries, total
thous. of short tons
Industrial consumption, total
do..
Beehive coke ovens
do..
Byproduct coke ovens
do..
Cem«n!fc all 1 B
do..
Sleclvrle power utilities
do..
Bailvsaya (class X )
do...
Steal and rolling Bills
do...
Other industrial
do •..
x
. Eetail deliveries...
do. •
Other consumption, coal sine fuel
do..
Stocks, industrial and retail dealers, end of month,
total...
thous. of short tone.
Industrial, total
do...
Byproduct coke ovens
do...
Cement sills
do...
Electric powar utilities
do...
Bailways (C1&«3A X ) . .
Steel and rolling Bills
Other Industrial
iUitail dealer*, total*
»'U
7,696
64s
6,719
S015371s
8,749
5,318
168
U
*7.£3«
*>5,680
7,762
1.001
14,601
7.208
1.074
14,034
1,352
58,010
56,166
10,474
1,361
17,041
8,787
1,269
17,23*
1,844
6,931
6,25*
1,818
11,611
5.702
5.*19
10,069
7,58*
7.827
2,189
ll,*35
49.77*
46,384
7.096
1.079
16,409
8,517
1,226
12,057
*5.366
42,176
4,804
968
15,292
6,808
1,086
13,218
3,190
34,418
33,576
4.30S
776
thousands*
do...
do..,
do...
7.5g
6,670
6,790
7,441
1,97*
5,838
6,57*
7.059
2.265
10,940
do...
do. •.
do...
5.44©
5,779
9.413
4,5*2
6,216
7,909
5,578
5,807
9,737
do...
do...
do..,
do...
3.39*
5.9*3
1/
It
Km
771
11,112
842
mrsmz m> BEBBSR PBODUCTS
Tires and tubes:
Pneumatic casing*:
Production
Shipments
Original equipment
Stocks, end of aonth
Inner tubes:
Production
Shlpmentc*.
Stocks, end of month
vj fiavleed. JL/ B^iaaing January 1948 included in "other industrial.
6.716
6,7*5
9,939
@FedFRASER