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fss SURVEY OF CURRENT BUSINESS WEEKLY SUPPLEMENT UNITED STATES DEPARTMENT O F COMMERCE BUREAU OF FOREIGN AND DOMESTIC COMMERCE WASHINGTON, D. C , DECEMBER 14, 1939 SUMMAEY OF BUSINESS TRENDS T HE marked rise of income payments to individuals since August, resulting from expanded industrial activity and higher farm prices, was reflected in increased consumer purchasing during November. Retail trade expanded more than seasonally in November and volumes in all major lines were well ahead of a year ago. The adjusted index of department store sales reached 94 (1923-25 = 100), a gain of 4 points over October, and only 1 point below the peak in 1937. As prices are somewhat lower now than in 1937, the indicated volume of department store sales is correspondingly larger at this time. Variety store sales also increased more than seasonally in November and showed the same gain over a year ago as department store sales, roughly 6 percent. Retail sales of automobiles increased sharply in November as the new models became available in large volume. Retail deliveries of the industry, apart from the company whose plants were shut down, were larger than in any month of the past 2 years. Industrial production, according to the Federal Reserve adjusted index, recorded another sizable increase in November to 125 (1923-25=100), a gain of 5 points over October. The index was as high as the 1929 peak, owing in part to the high level of steel ingot production. Two changes in productive activity have been reported thus far in December. Steel ingot output has declined from the record level at the end of November of 94.4 percent of capacity to 92.8 percent for the week ended December 9 and a further reduction to 91.2 is scheduled for this week. Automobile assemblies were increased to 115,500 units last week as Chrysler plants swung into production—the preceding week's figure was 93,600 units. Wheat prices, partly influenced by reports of severe droughts in the winter wheat belt, have increased sharply over the past fortnight. The May future closing at 95 cents per bushel on Saturday was up 9 cents over this period and 5 cents above the recent high in September. Cotton prices have also advanced considerably; the average price in 10 spot markets was 10.18 cents per pound on Saturday compared with 9.34 cents 2 weeks earlier. Aside from these changes and continued weakness in hog quotations, prices of farm products generally have held steady. Wholesale food prices have declined somewhat further. Industrial commodities on the average have shown little change though there have been declines in such items as steel scrap and zinc. SELECTED BUSINESS INDICATORS STEEL INGOT PRODUCTION ELECTRIC POWER (FEftCtNT OF CAPACITY) PRODUCTION SPOT COMMODITY (BILLIONS OF KILOWATT HOURS) PRICES (MOODY;5 INDEX- DEC. 31, 1931= 1 0 0 ) Jb-L BITUMINOUS COAL PRODUCTION CONSTRUCTiON CONTRACTS - E W . DODGE PRICES OF 3 5 0 INDUSTRIAL STOCKS (DAILY AVERAGE AWARDS - MILLIONS OF DOLLARS) (MILLIONS OF SHORT TONS) (INDEX, 19Z6 = 100) V AM 1 t 1 f . > PRICES 09Z6 = 100) too r- 95 J BUILDING MATERIALS METALS AND METAL PRODUCTS ^ . 90 85 80 75 CHEMICALS AND FUEL AND LIGHTING MATERIALS" DRUGS' 70 1939 65 65 1937 1938 i (PERCENT) (THOUSANDS OF WHOLESALE COMMODITY i YIELDS OF 120 CORPORATE BONDS FREIGHT CAR LOADINGS 1939 v , ( i • 1 • . 1 . i 1937 . . 1 . . I.. 1 . . 1938 " ~* ^ WEEKLY BUSINESS INDICATORS* [Weekly average, 1923-25=100] Commodity prices, wholesale: Dept. of Labor, 1926-100: BL Combined index (813). t Farm products (67) g| Food (122) *•>* All other (624) Fisher's index, 1926=100: Combined index (120) Copper, electrolytic* Cotton, middling, spot _. Finance—Continued. Banking: Debits, outside N. Y. C.t Federal Reserve reporting member banks: Loans, total Interest rates: Call loans* Time Ioanst Currency in circulationt Production: Automobiles Bituminous coalt Cotton consumption! Electric powert Lumber. Petroleum! _ Steel ingots© _ Receipts, primary markets: Cattle and calves Hogs.. Cotton Wheat 105.7 105.8 105.9 107. 94.4 93.1 85.0 84.8 117.0 115.0 114.6 115.4 101.0 102.1 83.0 82.8 126.0 124.3 124.1 123.5 103.8 105.2 84.6 84.4 78.8 67.1 71.1 84.4 79.0 67.6 72.0 84.4 79.1 67.3 72.3 84.4 79.3 67.8 72.4 84.4 77.1 67.8 73.7 80.7 77.4 69.1 74.3 80.7 81.9 82.0 73.4 73.9 80.7 80.7 83.7 83.9 84.3 84.9 84.7 84.0 83.8 83.9 79.8 89.1 89.1 89.1 89.1 89.1 79.7 79.7 73.9 76.1 39.7 38.6 37.5 37.1 36.8 31.6 32.4 30.1 29.8 Construction contracts! Distribution: Carloadings Employment: Detroit, factory.. Finance: 56.8 Failures, commercial 64.1 Bond yieldst 111.3 Stock pricesj 1937 Dec. Dec. Nov. Nov. Nov. Dec. Dec. Dec. Dec. 10 Dec. Dec. Nov. Nov. Nov, Dec. Dec. Dec. Dec. 25 18 10 Business activity:f New York Times§c?. Barron'scf Business Week 1938 1939 1937 1938 1939 62.4 92.9 07.1 71.9 70.6 80.5 82.0 64.6 67.6 64.6 64.7 97.6 105.9 97.8 120.3 106.1 101.3 113.8 88.5 94.4 97.3 89. 5 106.6 68.9 68.4 68.2 67.7 66.5 76.1 75.5 69.2 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 28.6 28.6 28.6 28.6 28.6 155.6 154.1 153.1 152.3 152.5 141.0 140.3 135. S 135.6 151.4 122.7 95.0 113.6 88.5 103.8 96.4 128.1 129.1 152.4 149.0 150.9 56.1 50.7 54.4 157.9 183.3 83.3 172.4 159.4 162.1 ]161.3 160.6 113.0 132.0 128.2 124.2 120.8 104.8 80.2 84.8 101.2 81.4 ISO. 4 150.9 53.3 182.3 .. 158.9 118.9 139.2 47.1 155.8 101.1 117.6 88.6 S4.1 .8 129.2 137. 46.1 36.6 37.9 154.8 163.9 162.6 102.5 45.2 48.6 66.6 66.6 78.3 87.5 73.8 80.1 53.5 42.6o 52.9 46.0 55.0 60.8 126.9 163.8 151 5 192.7 198.1 84.2 89.6 33.7 33. 5 42.81 31.4 48.7 44.8 • Data do not cover calendar weeks in all cases. § Computed normal= 100. JDaily average. tWeekly average, 1928-30=100. cPFor description of these indexes, see p. 4 of the Dec. 16,1937 issue. ^Seasonally adjusted. ©Index for week ended Dec. 16 is 156.7. 49.1 46.9 54.8 54.1 54.3 50.9 60.0 54.3 64.0 63.8 64.1 64.3 68.6 68.5 72.3 73.5 110.5 112.3 112.4 111.5 105.3 05.9 94.8 93.6 85.2 60.3 139.6 31.1 88.7 48.7 130.4 30.5 WEEKLY BUSINESS STATISTICS1 1939 Dec. 9 Dec. 2 1938 Nov. 25 Nov. 18 Nov. 11 Nov. 4 0.123 1.05 2.35 37.26 .86 0.123 1.02 2.39 37.42 .86 0.123 1.01 2.42 37.44 .86 0.123 .100 2.43 37.53 .87 0.123 .096 2.43 4,649 2,983 4,100 3,012 4,700 3,004 4,400 2,568 2,512 11,617 5,154 2,605 2,552 11,620 5,135 2,645 2,593 11,619 5,171 18,824 5,237 14,516 8,724 18,972 5,232 14,503 8,713 2,415 8,646 4,378 1.00 1.25 2,408 8,656 18,918 5,252 14,475 8,726 2,401 8,617 2,213 3,905 231 7,553 3.70 3.850 108.06 02.5 108.7 86.9 30,2 Dec. 10 1937 Dec. 3 Dec. 11 1936 Dec. 4 Dec. 12 COMMODITY PRICES, WHOLESALE Copper, electrolytic, New York.. dol. perlb.. Cotton, middling, spot, New York do.... Food index (Bradstreet's) 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: 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. of dol. Loans, total! do.,. Commercial, industrial, and agricultural loans§ mil. of doK. Interest rates, call Ioanst.percent.. Interest rates, time loanst. do. Exchange rates: French franct _~_ -...cents.. Pound sterling^.. __ ..dollars.. Failures, commercial _ __ number.. Currency in circulationt mil. of dol.. Security markets: Bond sales (N. 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)t ...dol. per share.. Stock prices (Standard Statistics) (420) 1926=100., Industrials (350) .do. Public utilities (40)... _.__do. Railroads (30) do. PRODUCTION, CONSTRUCTION, AND DISTRIBUTION Production: Automobiles^-— ..number.. Bituminous coalt thous. of short tons.. Electric power mil. of kw. hrs.. PetroleumJ thous. of bbl._ Steel ingots© ..pet. of capacity.. Construction-contract awards 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._ 0.123 .108 2.32 37.26 115,488 330 2,679 0.110 .088 2.41 36.36 .65 0.102 .082 2.67 38.88 .97 0.105 .OSt 37.62 .85 0.110 .086 2.39 36.36 .67 38.86 .95 0.103 .129 2.90 S5.08 1.30 2,739 4,106 4,123 4,637 3,839 4,380 2,608 3,759 3,505 4,151 3,065 4,118 4,222 4,449 2,715 2,649 11,587 5,166 2,721 2,687 11,749 5,354 2,765 2,721 11,814 5,376 2,591 2,564 8,966 3,442 2,584 2,564 8,876 2,612 2,564 1,052 2,603 2,564 6,906 1,119 2,468 2,430 6,731 2,157 18,604 5,256 14,465 8,725 18,660 5,250 14,314 8,720 18,556 5,249 14,207 8,684 16,114 5,127 12,990 8,087 16,013 5,124 13,008 8,106 14,707 5,183 11,980 8,013 14,612 5,234 11,940 7,963 15,488 5,050 13,682 9,192 2,402 8,549 2,250 8,521 1,685 8,400 1,682 8,317 1,102 9,509 1,216 8,912 3,881 1.00 1.25 3,866 1.00 1.25 4,628 1.00 1.25 1,118 9,441 4,637 1.00 1.25 4,362 1.00 1.25 4,330 1.00 1.25 2.212 3.904 200 7,485 1.00 1.25 2.224 3.924 191 7,433 2,232 8,521 4,310 1.00 1.25 2.223 3.922 223 7,398 2.201 3.882 220 7,404 2.264 3.992 221 7,370 2.637 4.681 221 6,819 2.621 4.670 207 6,811 3.398 4.998 244 6,594 4.991 221 6,587 4.663 4.903 160 6,505 34,170 3.69 3,639 107.30 91.7 107.6 86.8 29.9 34,110 3.68 2.978 109.03 93.9 110.3 87.9 31.2 39,760 3.70 3,934 109.17 93.5 109.9 87.0 31.4 27,980 3.71 4,624 108.29 94.4 111.2 87.4 31.5 37,830 3.75 6,530 110. 35 94.9 112.0 86.8 32.1 41,080 3.96 4,616 102.27 91.2 109.6 77.9 27.9 36,450 3.95 5,0-10 102.81 92.1 110.6 79.0 28.6 46,320 4.17 5,870 92.11 84.3 97.7 80.5 32.2 42,770 4.24 6,055 90.87 81.1 93.5 79.7 30.8 76,390 3.66 11,439 138.46 122.8 142.3 110.7 55.3 1,508 2,539 3,289 94.4 72,520 1,767 2,482 3,818 93.9 10,022 86,700 1,642 2,514 3,592 93.5 14,912 86,200 1,784 2,514 3,797 92.5 82,690 1,710 2,537 3,501 91.0 100,705 1,365 2,319 3,245 59.9 97,795 1,444 2,286 3,224 60.7 17,204 94,753 1,724 2,196 3,414 27.5 92,173 1,387 2,153 3,387 29.6 120,660 1,840 2,278 3,120 76.6 6,850 676,516 145,691 33,223 35,997 13,779 142,556 23,917 281,353 771,404 163,133 35,612 36,897 15,904 158,028 45,635 316,195 785,961 147,459 34,764 38,222 13,554 149,510 11,640 293,739 35,823 37,697 17,650 156,735 65,876 315,242 805,862 171,597 37,380 37,530 19,839 159,157 56,976 619,340 134,964 28,043 34,421 14,545 151,325 10,281 245,761 648,534 151.07S 28,728 35,769 16,681 152,737 9,307 254,234 619,266 164,003 26,717 34,5S8 14,731 150,238 8,665 220,324 620,325 132,868 27,861 37,413 15,154 154,962 10,560 241,507 739,096 181,979 34,285 35,855 16,778 166,901 8,156 295,142 211 347 426 2,157 210 277 394 2,664 247 343 501 3,406 277 298 515 2,495 295 233 357 219 3,874 253 395 233 3,566 391 363 2,474 2S0 316 339 2,426 310 502 268 2,498 4,381 1.00 1.25 294 572 3,280 1.00 1.25 ®Rate for week ended Dec. 16 is 91.2. tDaily average. «Data do not cover calendar weeks in all eases. §No longer strictly comparable; for an explanation, see the corresponding data on p. 30 of the July 1939 issue of the SURVEY. ISOTJBCE; Ward's Automotive Reports, MONTHLY BUSINESS STATISTICS 1938 Monthly statistics, through December 1937, to- 1939 gether with explanatory notes and references to the sources of the data, may be found in the Novem- Novem- Decem- January ber 1933 Supplement to the Survey ber ber 1939 February March April May June July OctoAugust September ber DOMESTIC TRADE Pages 27, 28, 29 Postal business: Receipts, postal: 50 selected cities thous. of dol.. 32,446 3,658 50 industrial cities . * do Retail trade: Chain-store sales: Variety-store sales: Combined sales of 7 chains: 108.1 Unadjusted 1929-31=100.. 106.5 Adjusted do H. L. Green Co., Inc.: Sales.. ..thous. of dol.. 3,066 S. S. Kresge Co.: 12,356 Sales do 685 Stores opera ted.. ..number.. S. H. Kress & Co.: 7,295 Sales thous of dol 240 Stores operated number McCrory Stores Corp.: 3,622 Sales..... thous. of doL. G. C. Murphy Co.: S*I1P3 dO Stores operated . . number . F. W. Woolworth Co.: Sales thous. of dol Stores operated number.. Other chains: W. T . Grant & Co.: Sales -- thous. of dol Stores operated .number.. J. C. Penney Co.: Sales thous of dol Department stores: Sales, total U. S., unadjusted-l923-25=100,. Atlanta .. _. do Boston ._. _. ._ do _. Chicago do Cleveland - ... _ . .. do Dallas . . _. . .. do Kansas City 1925=100.. Minneapolis. .1929-31=100.New York.....— 1923-25=100.. Philadelphia do Richmond.. _. .. _ do . St. Louis do . San Franclscof. do- . . Sales, total U. S., adjusted do Atlanta do Cleveland do Dallas do— Minneapolis 1929-31 = 100,. New York... 1923-25=100.. Philadelphia do St. Louis. do San Francisco f do FINANCE Pages 70, 71, 73, 75, 76, 77 Public finance (Federal): Debt, gross, end of mo mil. of dol Public issues: Interest bearing* do Noninterest bearing* do Special issues to gov't agencies and trust funds* mil. of dol_. Receipts, customs thous. of dol Capital flotations:! Securities issued by type of security, total thous. of dol.. New capital, t o t a l . . . . . . „ , „;" '1 . d o . 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: Value, issues listed on N . Y. S. E.: Face value, all issues .mil. of doL. Market value, all issues do Domestic issues do Foreign issues.— doYields (Moody's): Domestic (120 bonds). percent.. By ratines: Aaa (30 bonds) do Aa (30 bonds) .do.... A (30bonds).. do Baa (30 bonds) do By croups: Industrials (40 bonds) — do Public utilities (40 bonds) do,— Rails (40 bonds) do ' Revised. 31,426 3,568 42,470 5,154 28,537 3,667 27,710 3,493 33,478 3,979 29,830 3,618 30,922 3,687 29,791 3,687 25,464 3,271 28,233 3,540 30,038 3,413 31,960 3,788 102.2 100.2 193.6 104.9 73.6 98.7 79.7 95.5 85.0 98.8 97.6 97.1 96.3 96.3 95.8 100.8 91.3 102.6 89.5 101.1 '96.1 '100.5 '102.9 '101.5 2,819 5,952 1,993 1,959 2,442 2,869 2,733 2,712 2,502 2,446 2,785 2,855 11,972 686 24,114 687 8,801 680 9,058 681 10,606 683 11,940 683 11,401 682 11,293 6S3 10,369 685 10,578 683 11, 513 683 11,938 682 6,613 238 14, A2Q 238 5,055 233 5,163 238 5,969 238 6,315 239 6,818 239 6,406 239 6,225 240 6,490 240 6.596 240 7,286 240 3,186 7,003 2,535 2,738 3,196 3,648 3,300 3.420 3,158 3,136 3,354 3,431 4,219 202 3,594 201 7,223 201 2,086 201 2,752 201 3,205 201 3,848 201 3,741 201 3,758 201 3,564 201 3,470 201 3,789 201 4,090 202 29,952 2,019 25,295 2,018 50,379 2,017 19,653 2,014 20,686 2,011 23,104 2,012 25,919 2,008 24,725 2,005 24,662 2,013 24,340 2,015 24,123 2,014 25,S1O 2,015 26T 530 2,018 9,316 '494 '8,634 489 17,996 491 5,531 489 5,748 489 7,164 489 8,376 489 8,496 491 8,386 493 7,298 493 7,210 494 8,235 495 8,J33 28,716 ' 27,208 38,928 16, 523 14, 613 18,736 21,281 22,233 22,235 19,502 20, 693 26,138 28,722 99 126 86 96 93 118 89 96 106 82 118 95 108 89 111 88 88 105 96 89 6S 82 103 156 203 138 157 152 182 151 147 164 127 209 143 170 89 119 94 93 105 97 92 70 87 100 69 91 69 101 54 67 71 89 64 63 71 52 75 68 S3 87 115 84 86 68 87 99 105 86 86 68 79 99 82 116 68 92 82 99 87 97 80 65 105 82 89 88 125 98 92 105 96 91 70 88 99 88 119 75 89 92 104 82 97 86 67 102 89 96 88 115 86* 84 104 95 89 68 86 98 87 118 75 89 89 105 S6 94 85 70 115 86 93 85 116 88 84 105 94 88 71 86 97 83 108 76 89 82 90 74 95 87 65 105 75 88 86 119 91 85 101 95 90 66 82 97 60 88 49 61 63 72 61 69 63 46 73 62 81 86 126 85 83 103 97 89 67 90 99 69 114 55 77. 73 83 79 89 67 50 86 70 94 89 146 95 87 107 102 90 67 94 100 97 133 83 102 96 115 90 116 97 73 118 98 98 91 142 99 93 104 104 93 73 92 95 99 '138 '85 '98 98 '116 '94 116 '104 '80 132 96 * 102 90 '116 '89 '92 '103 '97 '90 '69 85 '99 J* v 141 u7 P116 p 23Q P102 P104 p 99 »104 J>78 J»87 64 69 67 87 67 75 68 49 77 69 81 88 115 86 88 114 91 87 J 495 41,305 38,607 39,439 39,641 39,864 39,990 40,068 40,286 40,445 '40,666 <• 40,896 40,858 41,036 36, 512 498 34,981 535 35,755 528 35,892 534 35,949 533 35,994 543 36,038 638 36,089 531 36,122 554 '36,200 548 ' 36,261 540 36,279 516 36,417 510 4,295 29,049 3,090 27,338 3,156 25,121 3,215 24,318 3,382 22,361 3.454 29,266 3,492 29,437 3,666 25,318 3,770 24,517 3,918 25,528 4,094 27,213 4,063 35,595 4,109 32,418 217,944 21,408 125.140 395,807 220,893 174,914 529,182 277,339 241,001 '220,531 56,809 288,181 540,723 377,550 163,173 239,929 162,272 77,658 355,941 1,312,257 142,621 116,873 213,320 1,195,383 604,380 292,576 311,804 585,732 317,525 268,207 458,600 112,129 346,471 174,372 41,221 133,151 739, 540 335,860 403,680 112,200 21,408 7,658 1,475 90,792 12 000 76,840 151,223 43,521 18,284 21,285 107,702 44,656 63,046 310,038 59, 544 48,801 6,461 250,493 56,404 139,795 16,213 5,827 1,027 1,170 10,386 3,986 300 159,6S6 23,571 20,171 2,475 136,115 12 111,029 99,663 52,979 18,572 4,202 46,689 15,301 31,388 258,809 77,060 75,981 579 181,749 60,175 106,500 182,742 21,240 3,987 403 161,502 2,000 154,400 282,039 30,241 12,198 12,666 251,798 79,810 160,185 225,987 49,464 9,864 25,892 176,523 95,875 77,122 340,692 25,395 17,045 1,930 315, 298 20,123 248,670 90,194 16.019 1,099 125 74,175 605 22,640 175,514 18,200 5,957 1,505 157,314 3,443 147,052 52,435 47, S39 45 500 2,339 50,301 45,442 42,597 2,844 51,554 47,053 44,268 2,785 51,587 46,958 44,233 2,725 51,466 47,271 44,524 2,748 52,670 48,352 45,665 2,687 62,564 48,128 45,493 2,634 52,647 48.921 46,179 2,742 52,751 48,571 45,921 2,649 52,610 49,007 46,331 2,676 52,209 47,297 44,808 2,489 52,466 46,431 44,279 2,151 52,452 47,621 45,331 2,290 3.70 3.95 3.95 3.86 3.81 3.74 3.84 3.78 3.71 3.66 3.67 3,95 3.83 2.92 3.13 3.86 4.91 3! 07 3.83 4.84 2.93 3.11 3.80 4.85 3.25 3.49 4.05 5.00 3.15 3.35 3.94 4.8S 3 23 3.42 4.47 3.17 3.39 4.42 3.21 3.40 4.41 4.58 3.70 3.57 3.43 3.57 4.51 3.00 3.16 3.78 4.85 3.10 3.46 4.02 5.23 3.08 3.42 4.02 5.27 3.01 3.32 3.97 5.12 3.00 3.26 3.94 5.05 2.99 3.22 3.87 4.89 3.02 3.22 3.97 5.15 2.97 3.16 3.92 5.07 3.25 3.41 4.44 3.39 3.65 4.83 3.40 3.63 4.82 3.31 3.57 4.70 3.29 3.52 4.63 3.29 3.48 4.46 3.35 3.51 4.66 3.30 3.45 4.60 . . ** New NeV^eriesf' New items items for for Federal Federal gross gross debt debt.beginning June iyie 1916 appear appear in in Tame table zi, 21, p. p. io 16 oi of me the Apni iw.w ovnv£x. series. New beginning June rt™rtTn«it «tn™ SATPS f Revised series Data for capital notations revised beginning January 1937: see table 26 on pp. in and 16 of the May 1939 SURVEY. Indexes of department store sales In San_Franciseo_area revised beginning 1919; data not shown on p. 24 of the August 1939 SURVEY will appear in a subsequent issue. MONTHLY BUSINESS STATISTICS—Continued Monthly statistics through December 1937, to 1939 gether with explanatory notes and references to the sources of the data-, may be found in the Novem 1933 Supplement to the Survey ber FINANCE—Continued Security markets—Continued. Stocks: Cash dividend payments and rates (Moody's): Annual payments at current rates (600 companies) mil. of dol. Number of shares, adjusted millions. Dividend rate per share (weighted average) (600 cos.) dollars. Banks (21) _do... Industrials (492 cos.) _do._. Insurance (21 cos.) do... Public utilities (30 cos.) .do... Kails (36 cos.) do.-. Shares listed, N. Y. S. E.: Market value, all listed shares mil. of dol. Number of shares listedmillions. TRANSPORTATION AND COMMUNICATIONS Pages 84, 85 Class T steam railways: Freight-car loadings (Federal Reserve): Combined index, un<idjustod_1923-25=100. Combined index, adjusted. .do... Grains and griin products do... Merchandise, 1. c. 1 __do._. Ore... ___ .do... FUELS AND BYPRODUCTS Paxes 119, 120,121, 122 Petroleum and products: Crude petroleum: Consumption (run to stills)..tbous. of bbl. Production do... Refinery operations .pet. of capacity. Stocks, 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 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. ofbbL. Gas, oil, and distillate fuels, total thous. ofbbL. Motor fuel: J Demand, domestic do Production, total _ .do Benzol. do Straight-run gasoline do.... Cracked gasoline do Natural gasoline do Natural gasoline blended— do Gasoline:^ 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 METALS AND MANUFACTURES Pages 131,133,137,13S Pig iron and iron manufactures: Pig iron: Production thous. of long tons.. Steel, crude and semimanufactured: Ingots, steel: Production thous. of long tons.. Percent of capacity Nonferrous metals: Tin: Deliveries. _ long tons.. Visible supply, world, end of mo.f do United States U .do 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 TEXTILE PRODUCTS P a e 156 Silk: ? Deliveries (consumption) bales. Stocks, end of month: Total, visible supply do United States (warehouses) do 1938 Novem- Decent ber ber 1939 Januar; February March April May June July August Septem ber October 1,573.05 1,328.16 1,315.04 1,316.25 1,329.91 1,334.15 1,337.76 1, 339.27 1,382.43 1,391.46 1,422.99 1,423.82 1,442.45 935.03 935.03 935.03 935.03 929.10 935.03 935.03 935.03 935.03 935.03 935.03 935.03 1.43 1.41 1.42 1.68 1.43 1.43 1.41 1.49 1.48 1.43 1.52 1.52 1.54 3.00 3.01 3.01 3.01 3.01 3.01 3.01 3.01 3.01 3.01 3.01 3.01 3.01 1.28 1.29 1.30 1.61 1.28 1.31 1.30 1.38 1.37 1.31 1.42 1.42 1.45 2.31 2.24 2.31 2.39 2.31 2.33 2.31 2.39 2.39 2.33 2.39 2.39 2.39 1.92 1.94 1.91 1.91 1.95 1.92 1.92 1.94 1.94 1. 1.95 1.94 1.95 .85 1.05 .90 .90 1.25 .90 .90 .87 .90 .90 .90 .90 ..90 45,505 1,432 46,081 1,427 47,491 1,424 83 82 88 63 191 44,884 1,425 46,271 1,426 40,921 1,427 40,673 1,427 43,230 1,427 41,005 1,429 44,762 1,430 41,653 1,430 47,440 1,431 63 69 79 62 102 97,309 98,567 79 87,389 36,064 228,741 40,386 188,355 97,964 99,614 102,287 102,490 77 78 89 80 87 62 103 87,797 93,475 76 87,222 87,595 87,002 37,193 36,927 38,323 229,140 227,134 227,098 41,221 42,540 41,777 187,919 184,594 185,321 24,573 12,793 25,197 13,873 30,935 26,991 24,309 21,9_52j 32,069 27,873 24,650 21,731 44,991 48,201 181 20,397 23,379 4,244 4,222 41,649 186 20,794 22,701 4,345 4,285 37,767 49,120 185 21,125 23,546 4,264 3,637 34,595 43,409 170 18,455 21,037 3,747 3,229 64,083 39,376 5,742 65,949 41,805 4,830 73,847 49,419 4,647 5,368 5,419 9,676 6,813 5,739 7,799 1,735 2,535 7,817 3,720 25,800 14,135 47,374 1,431 98,917 106,768 77 99,303 105,755 104,6S7 106, 899 107,632 105,505 105,510 110, 541 104,607 110,937 80,865 108,168 83 80 84 85 84 85 110,980 114,198 86 86,294 86,075 85,580 85,049 85,655 84,039 82,927 82,718 39,383 39,699 39,878 38,902 38,427 38,072 37,372 35,533 229,079 230,926 230,279 226,462 223,558 192,985 189,341 187,579 41,154 40,180 40,445 4], 463 41,817 37,441 35,781 36,922 187,925 190,746 1S9,834 184,999 181,741 155,544 153,560 150,657 25,040 13,539 24,750 13,301 27,022 12,353 24,836 13,530 25,644 12,688 19,288 19,534 21,397 22,480 25,025 26, 111 26,249 26,109 20,115 21,058 22,083 25,659 27,581 29,282 30,018 30,951 42,520 48,367 192 20,663 23,280 4,232 3,243 43,977 48,837 162 20,922 23, 521 4,232 2,983 49,547 51,384 130 22,767 24,207 4,280 2,646 49,812 50,861 174 21,782 24,810 4,C95 2,682 50,508 51,896 191 22,502 25,028 4,175 2,909 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 26,623 4,481 4,358 79,691 54,569 4,708 81,189 55,464 4,721 81,623 55,172 5,484 78,342 52,076 6,212 74,395 47,972 6,749 71,824 44,196 7,123 66,448 41,046 6,624 65,498 41,423 5,891 68,116 43,516 5,140 5,980 5,702 6,711 5,901 5,174 5,452 5,201 5,900 5,605 5,042 5,813 5,663 4,368 5,909 6,551 3,570 5,439 7,949 3,710 5,390 8,855 4,436 5,783 4,638 5,806 9,952 5,019 6,141 9,967 1,831 2,384 7,695 1,609 2,527 7,762 1,653 2,522 7,951 1,987 2,664 7,800 1,770 2,672 7,886 2,132 2,856 7,630 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 6,639 2,270 2,211 2,175 2,060 2,395 2,056 1,718 2,118 2,356 2,660 2,879 3,628 5,463 92 3,558 3,131 53 3,174 54 3,405 55 2,974 52 2,923 47 3,125 53 3,163 55 3,763 61 4,231 71 5,394 91 7,870 38,035 3,383 3,535 37,145 5,060 3,400 37,712 5,157 4,330 39,100 4,624 4,105 40,035 5,486 4,755 37,788 5,806 5,980 37,224 3,385 5,905 33,715 3,387 4,925 30,039 4,388 5,275 29,615 6,339 6,295 26,338 3,613 5,050 31,168 3,413 6,040 38,206 3,536 53,524 46,867 64,407 61,522 40,343 36,243 43,693 20,778 45,345 38,793 39,354 126,769 44,277 39,500 42,639 128,407 39,613 39,459 39,828 128,192 4570S4 38,251 45,291 127,985 43,036 38,763 40,641 130,380 42,302 36,331 39,607 133,075 39,450 39,669 36,291 35,491 37,284 43,128 135,211 131,782 40,960 34,443 49,928 122,814 42,225 37,729 69,124 95,615 50,117 43,109 73,327 72,405 89,160 27,760 89,135 35,935 21,476 42,797 2/5,299 13,246 32,241 41,599 35,204 40,816 33,219 37,863 27,802 26,150 .26,256 26,134 33,095 92,527 41,927 [50,718 46,218 149,778 53,278 124,354 48,554 98,078 38,178 86,816 23,116 77,238 20,738 61,601 24,201 60,709 19,209 73,348 25,748 81,060 25,060 26,302 12,975 27,594 15,017 41,858 *• Revised. « Data for October are the latest available. ^See footnote marked "V* on p. 46 of the October 1939 SURVEY. t Revised series. World visible supply of tin revised beginning January 1935 to include stocks of refined tin at ail European smelters; data not shown on p. 50 of the November 1939 SURVEY will appear in a subsequent issue. „ s G0VERNMENT PR1NTING OFFICE- 1939
@FedFRASER