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SURVEY OF C U R R E N T BUSINESS W E E K L Y SUPPLEMENT UNITED S T A T E S DEPARTMENT OF COMMERCE BUREAU OF FOREIGN AND DOMESTIC COMMERCE AVAILABLE ONLY WITH SUBSCRIPTION TO SURVEY Of CURRENT BUSINESS SELECTED BUSINESS FEBRUARY II INDICATORS E L E C T R I C POWER PRODUCTION BY UTILITIES STEEL INGOT PRODUCTION (KiLLiONS OF KILOWATT HOURS) (1935*39 » 100) .• 1 i• • : I • « « I j» » I • « « • I « » • I « » « I • • » • I « • • PERSONAL INCOME 250 HOURLY EARNINGS AND HOURS IN MANUFACTURING BILLIONS OP DOLLARS, SEASONALLY ADJUSTED, AT ANNUAL RATES 200 too 1947 IfBt 1949 1946 1949 WEEKLY BUSINESS STATISTICS3 19*»8 Jan. 31 Comaodity prices, vhol esale* I6W.5 All commodities 2/ 1926-100. Fare products 2/ do... 196.3 food 2/ do... 176.2 •11 other g/ do..., 28 comaoditl.es j / August 1939-100. 3*9.6 Cotton, middling, 15/16", 10 aarkete UJ dol. per lb., •3*6 Wheat, Ho 2. Hard Winter (Kansas City) dol. par bu. 2.97 Department stora sales. 1935-39-100 Insured uneoployasnt, total 5/ . . ..thous*. JSt Stats programs do 1.009 Veterans' programs do 633 Finance: 28,100 Currency in circulation MJ a l l . of dol.: 22,65® Federal Reserve bank or edit, total do... 17.305 Member bank reserve balances .do*.. 1,0*10 Excess reserves, eetiaated do... Federal iieserre reporting **aber banks in leading cities* Bank debits, total a l l . of dol. 21.103 New York City .do... 8.991 Deposits, deaand, adjusted do... U8.833 Loans and investments, total do... S / 6 M 5 3 U. 3. Government obligations .do... 37.323 Commercial, Industrial and agricultural loans .do... Failures, commercial nuabsr.. 91 Bond yielde, domestic corporate (Moody's) percentc 3.13 Stock prices, Ul6 stocks (Standard and Poor's).. 1935~39«100.. 117.5 Industrials, 365 stocks . .do 122.9 Production: Bit ml nous coal thous. of short tone*. »1 U/ 1.865 Electric power, .ail. of k»r-hr. r, £y by utilities 5.^29 Motor veniclss( Wards) 98.937 Petroleua hf .thous. o f b b l . 5.3" Steel 2/ 1935-39-100.. 192*2 Freight ear loadings, total of ears. 726 Miscellaneous do*.. 3*2 19*9 Feb. 7 16U.6 195.6 j 177.6 lks.6 332.7 •339 2.82 i 2M> 1.72W 638 22,126 21,175 17.08U j 913 ! 21.915 9.507 48,226 6M79 HM 97 3.13 U6.2 121. U 1.892 5.M2 80.299 5.333 189.8 7^7 351 Jftu. 8 161 r 3 175-5 168.1 152.6 29**8 .3S! Jan. 15 160.5 17U.3 16U.U 152.9 291.* 2.27 ! 272 i £.108 I 1.5*6 i m] 23,142 ' 23.727 30,375 1.051 2.27 2W* 2.190 1.603 518 27.909 23.193 Jan. 22 159.3 170.1 161.9 SK i S 236 27.701 22.999 20.133 978 25.157 20.5** 21,822 *7.*37 6/62/6yi 33. ^ 6/15.366 128 3.05 lin.5 125.S *7.519 6/52.596 ,,33.3* 6/15.U15 127 UT^Iro 10.586 1.931 5.7*2 96,101 5,*5* 202.0 722 3*7 8.368 3.02 122.1 128.6 1.963 5.727 108,281 5.*28 205.1 733 351 6/62,879 33.7*9 6/l5.*l* Jan. 29 158.8 167.9 158.8 168.9 .329 153.5 280.7 •3?7 2*22 159.2 153.6 283.7 2.23 217 27»5®0 20,035 9a 19. TO 579 22.960 21.968 J'M 9.203 33. ^H 5f 136 120.7 126.9 3.00 120.6 126.7 1.7*3 5.810 100,Uh5 208.8 '"Hi ji 5.!»19 113.0*2 5.*39 3*1 679 333 206.7 710 22,827 6/62^852 121.8 1.910 5.769 109.U59 158.6 27.581 1*2 3.01 128.2 Hb. 5 1/ Data do not always cover calendar weeks. 2/ Bevissd series. See note in December 3. 13U issue. 3/ Thursday prlees. */ Dally < y ° r description see note in July 13. 19U6 lesue. ages. 6/ Beginning July 1^8 individual loan lteas are reported gross, currently and for a year ago, instead of net aa formerly; total loans are included on a net basis for a l l years. Jj Week ending February 12, 206.7* M O N T H L Y BUS I H I lorUev &ta are available in aonthly sues of -the; Aunrey and the 19*7 Supplsaant STATJSTICS .1948 Dee saber January 19*9 October GBtKBAL 2USUSa& imCA30HS . Personal income,. seasonally adjusts*. At annual, ratta: Total p/ereonal Income..-.».... ..-..» bll. of dol. W a g e ^ ealary receipt®, total... do... "Total employer disbursements. do... Coqaociitv-producing Industrie*. . . . do... Distributive industries do... ServLee ir.austrise. . . . . • • • -do... &overfi»en?" do . . . Less eoployse contributions for social ii.surarics.do... Other labor ir.eoas 1. . .do... Proprietor*' and rental iacone do... Personal interest ix;coae and dividends do-.. Total, transfer payments ... . . d o..t ; Total, n onagricultural incous do... Jaxv income end narkstiogs: Indexed cf ceeii receipts froa. marketings and CCC loans, unadjusted: All coaaodities. 1935-39.100. Crops do... Mvsstock do... Index*a of toUuss of . f a n marketings, unadjueted: 1 Al.1 xorooditVee.. .-•• - • -do... Crops. do... Idvsstock and products do... OQNHGDIXY FBI CSS Pricee rscelved by fanisrs, all farm products.. .1909-l4»100. do... Crops Food grain .do... feed grain and hay* do... Tobacco do*.. Cotton do. - . fruit .....do... Truck crops .......do... Oil-bearing crops. .do... Livestock and products do... Mft»% aniaals do... Salry products do... Poultry and eggs do... 3«tall prices, U. S. Department of Coanerce: All coaaoditiee, index 1935" 39*100. CONSTRUCTION AND BJULL SSTATX Ksw construction, total. a l l . of dol.. Private, total do.... Beeidsntlal (nonfarm) do.... rionreeidsntial building, sxc.fara and pub.utility...do.... Industrial . do.... fara Construction do.... ; Public utility do.... Public construction, total... .....do.... Bssidentlal construction I . . . .do.... Military and naval. do.... Nonresidential building do.... Industrial. .do.... tfi^hvsy i do.... All other do.... DOMESTIC CHADS All rfcteiiT stores: Sstiaated sales, total Durable goods stores Kondurabls goods stores Indexes of sales' Unadjusted, coablned index ' Durable goods stores Nondurable goods stores Adjustsd, combined index XXurable goode etores nondurable goode etores do... do... do... 1935"39-100. .do*.. MPLO1MS0 CONDITIONS AND VA&SS labor fores (Bureau of the Ceneue)i Armed forces Civilian labor fores Jtaployasnt. .« .do. Agricultural.. .do. Jtanagricultural .do. Unemployment. .do*.. Hours and earnings (U. 3. Department of Labor)» Average wsekly hours per worker, all aanufacturing. .hours. Durable goods induetriss . do... Nondurable goode induetriee ,....dQ*.* t ] Revieed. £/ Preliainary. 1/ Lass thin $500,000. SOI .7 127.'* 1?) .J* • JT-* 15.? 17-6 2.0 1.9 5V3 W.2 lb-.9 m.2 r208-.8 • r*2TN* Irl29.6 ! r5§.9 : 37.5 i rl5-5 ! . rl7.7 i 2.2 ; 1-9 r51.8 •I0.5 : rll.2 risu.3 : r21g;*5 W37.5 rm.6 s r&3-0 : r40.2 ! rl6,6 rl9.8 !, r2.1 : 2.1 ; r^O.f rl7.8 rio.4 .; rl95*6 ; rl3«.o r 140.1 r63.8 I '39.7 ; rl6.6 i . 20.0 ! r2.1 i 2.1 ! 51-4 i rlB.1 j 10.3 i. r!96.3 421 3f3 362 399 558747 U15 497 ; 6o4 : 417 ! 14U 136 150 133 128 136 206 286 146 176 | 209 ; 150: 301 281 318 305 377 275 307! 284 ! 3 22 ; 318 j 277; 227 1 226 ! 192 i 418 i 251 ! 1£ 176 270 323 373 2?9 260 271 i 224-i 234 j 181!' 412 i 246 [ VQ 294 367 320 352 l S 262 188*4 1,320 1.097 6x0 284 13U 15 188 223 8 17 £5 i 81 12,641 3.087 St! 135 320 377 328 379 313 231 190.3 1.157 : 9K6 ! 500 1 273 i 130 I iu ; 161: 209 j 9 14 53 1 56 77 195.0 i i f1.707 i rl.265 i 650 I *233 ! rllo : 442 4 12 106 ; 2 !. 180 ! 140 ; ill! 283 j 313 : 351; 284 i ?72 : 193.* \ '1.552 i '1.178 j 20.1 2.2 2.1 52.2 18.4 10,8 197.1 418 470 376 160 186 , 140; 268 228 236 .184 *15 23? 164 209 283 305 339 260 268 238 232 187 *12 236 180 282 2?4 295 330 275 240 192.5 1,261 490 291 110 12 185 283 3 9 rl26 I rl26 ! 550 3l? 114 13 205 3U 3 10 106 1 80 112 13.166 '330 : '115 i 226 | r374 i 3! 11 i rlOft j rll,542 *3.221 8.321 'H.019; 292-9 312.1 286.6 324.7 357 .U 314.1 r349.0 '399.5 332.6 r338.0 r385-7 322-5 '3*9«3 '393-2 r335.O '33*. 2 '382.5 r318*4 1,280 ! 59.590 ! 57,9*7 | 6,962 ! 50.985 j 1.6*3 i 1,241 59.214 57.149 7.060 50.089 2,065 1.391 M 8,627 51.506 1,642 1,414 61,724 59,893 7.961 51.932 1.831 41.2'! 41.7 | 40.8 | 40.5 40.9 - . 40 .0 r39.9 r40.8 39-1 '39-7 r40.3 '39 i l 385.? s 386.7 I 328.8 i 361.2 ; 318.2 i ! i1:57 1.391 600 ! 9.684 2.516 7.169 9.55* | 22a.S 137.3 139.5 63.2 im 1,080 m % 104 102 3.308 9.857 & 400.8 3*5.7 389.2 328.9 g l.*53 7.37$ 52.059. 1.9*1 pfo.7 P39.1 1,468 60,078 57.*1* 6.763 MONTH iY BUSINESS Jbarlier dataare available in monthly ieeuee of the Survey and the I3U7 Supplement. S T A T I S T I C S —Continued 19US 19*7 December October January lovember December BCPLOXMiXT COUDIIIQHS AND WAOSS - Continued Hours and earning* (U. S. Department of Labor) - Continual Average weekly earnings, a l l manufacturing dollar®.. Durable goods industries do..., Nondurable goods industries do.... Average hourly earnings* all manufacturing do.... Durable goods industries Ao..... Iron and steal and their products dp.... Electrical machinery do.... Machinery, except electrical do.... Automobiles do.... Transportation equipment, except automobiles do.... Konferrous aetale and products do.... Lumber and timber basic products<* do.... furniture and finished lumber products.. ...do.... . Stone, d a y , and glasr products . ....do.... Nondurable goods industries." ,..do.... Textile-mill products and other fiber mfre ..do.... Apparel and other finished textile products do.... Lsather and' leather products..•• ...do.... Food and kindred products .do.... .do.... | lobacco manufactures* paper and allied products .. do.... Printing, publishing, and allied l n d u e t r i s s . . . . . . d o . . . . Chemicals and allied products....... «...do.... Prooucts of petroleum and coal...*.* do.... Rubber products ...... do.... GUailCALd ABD ALLIED PRODUCTS Oile, fats, and by-products* Animal fate: . Production " Stocks, end of m o n t h . . . . . . . . . i Oreaees: Product! on. Stocks. of month Pish oils* . Production.....'. Stocks, end of month Vegetable oile: Production, crude Stocks, snd of months Crude Refined Cottoneeed o i l , refined* Production... Stocks, end of month Llxieeed o i l : Product! on Stocke, end of month Soybean o i l ; Production: Crude Refined Stocks, end of months Crude Refined 52.69 52*07 ifS.72 S£ 1.55* 1.412 iJS 56.U8 1.273 1.3U6 1.U13 l.5f3 1J165 1-32J 1.056 1.117 1.196 1.100 1.052 t.092 1.175 1.226 I.56S 1-293 1.285 1.352 1.U15 1.538 1.479 1.336 1.050 1.122 • . S ; I 1.253 ! 1.210 1.115 r5U.5U « r5fc.U7 ri.365 1.U51 ri.526 I.U52 rl.UUS rl.516 1.678 rl.U39 1.UJ9 rl.575 1.167 1.184 1.3^7 1.2J2 •36U 1.586 1.710 1.392 1.737 1.177 1.235 1.579 1.311 urn rl.329 I.5O8 2a. thoua. of l b . . do.... 308,338 323.979 302,208 350,058 *do.... ..do.... 51.131 1011,052 119.272 119,351 do.... do.... M|3 7^,569 85,778 97.756 do.... do.... ..do.... 1*6,806 >196,263 2*1.715 512.932 539.016 ^97.661 do.... do.... 152,986 152.706 140,848 do.... do.... iSiw 135.39* 139.990 112,663 .....do.... do.... do.... do.... 52,331 1*7, 11.3^ 528,176 152.170 P55-01 P59-32 P50.42 pi.378 pi.*59 1.519 rl.678 1.187 1.087 rl.1^5 1.233 r.9?8 1.094 1.095 r58-53 r50,17 n.371 15579 1.161 1.189 1.355 rl.282 1.189 pi.288 1.100 1.1U9 1.251 1.016 1.337 1.713 1.1*01 1.75* 1.510 298.192 r310,920 3*0.957 401,9" .973 50,619 112,915 100,808 >6,529 115.792 13^.501 M99 531.979 i.9*8 53.*91 5.663 '211,379 698,811 279.215 178,087 83.053 167.559 182,495 190,988 60,973 58.1U r&0,89* 62,6*5 226,1103 136,86U rl5*.757 k22 152,966 110,912 86,703 63,850 K8.725 rJ7.*3? ro9»2l6 28,021 28,^3 29.006 l6l,UU7 7,67? 267.168 57,W5 91,632 62,351 120,774 116,910 168,081 160,055 110,908 101,075 86,576 SLSCTRZC POWER Slectrlc power, production, total Utilities Industrial establishments mil. of kir-hr. .do... do... 0 2M69 *.579 30,U3l 25,688 *.7*3 flHAVCS federal Reserve banks, condition, and of months Assets, total... . a i l . of d d . Reserve bank credit outstanding, total .do... Oil ted States securities do... Gold certificate reserves... do... Liabilities, total .do... Deposits, total. .do... Member bank reserve balance do... Sxcees reserves (estimated) do... federal Reserve notes-in circulation do... Reserve ratio percent. Stockss Prlcess Dov-Jones A Co. (65 stocks).; dol. per share. Industrial (30 stocks) do... Public utility (15 stocks) do... Railroad {20 stocks) .....do... Standard and Poor's Corporations Combined index (Ul6 stocks) 1935~39»100. Industrial (365 stocks); do... Public utility (31 stocks) do... Railroad (20 s t o c k s ) . . . . . * do... tj Revised. £ / Preliminary; ^7.712 23.181 U7.712 19.731 17.899 1.1*9 2M20 US. 3 63.66 179.18 33 122 A 129.2 94.0 W>3.9 ^7,327 22,782 21.925 21,701 *7.327 20,311 16,919 768 A.156 U8.8 63.61 170.26 33.06 51.UU 23.875 23,042 22,726 22,420 19.736 742 &.062 48.9 69*00 185.19 io!62 120.1 127.8 95.1 97-< 120.9 126.0 106.5 13M ^9.803 23,881 23.209 22,8^ *9.«>3 22.U27 19.89* 809 2*.172 U9.I 23.355 22,966 50,01*3 22,791 80.U79 rl,*99 2*,l6l *8.9 64.90 6*.2* 176.31 33.09 53-27 120.4 119 .H 125*5 176.60 33-3* ^55.00 126.U 9*.2 108.6 105.8 92.9 MONTHLY BUSINESS J | 2.J63 2.191 3.164 779 2,3«5 5,801 : \ i ; i K8; short tons..; 1,022,311 , 93.744 ; do....! 356.5*8 i do....! 163.508 j do....! 76,223 i do....! 42,218 ; j 168,859 I Orouadwood * .do.... j 75.041 ; Defibrated, sxplodsd, etc do....; 109,968 ; SteefcSi snd of aonth; tots*, all gradss; do.. 6.089 ; Blsachsd sulphats do.... 13.270 i ;dO. . . . • ' Unbleached sulphats. 42,846 j .dO....! Blsachsd sulphite... 17.716 | .do....! Unbleached sulphite. 3.*92 . •do....i Soda 21,702 s .do....: Orouadwood. Pspsr. excluding building paper, newsprint, and paperboard < (Jaerlcaa Paper and Pulp Association): j 697.825 j Orders, new short tons..! 732.765 ! Production do....i 729.868 1 Shipasnts j &9.077 ; Stocks, end of aonth do..... Pine paper: 82,720 ; Ordere, new do..... 101,95* ; Production do.... j 101,168 Shipasnts. do.... j 53.705 I Stocks, end of aonth do.... Printing paper: 252.829 j Ordsrs. nsw do.... 257.210 Production do.... Shipasnts do..., 257.73f 66,036 Stockst snd of aonth do.... Cosrss pspert 241,042 Ordsrs, new do.... Production do.... 2*7.650 Shipasnts do.... Stocks, snd of aonth... do..., 60.756 PSfffiOLHN AMD COAL PBODUCTS Cruds pstrolsoat Production thous. of bbl.. 158.736 j Consumption'(xunt to stills) do.... 158,719 ! 225,462 ; Stocks, snd of aoatht Befinable in U. S do.... Heary la California ....do.... 5.623 , Bsflnsd pstrolsua products: fusl oil* Production: Distillate fusl o i l . . , . «do... j Besidusl fuel bil do.... Stocks, end of aonth: Distillate fusl o i l do.... 61.33* Bssidual fixel o i l do.... 52.455 Lubricating oils: 4.264 Protection do.... Stocks, rsfinsry, sad of aonth do..., 8.531 Motqr fusl< Production, total do.... Gasoline and naphtha froa crude pstrolsua do..., Xatural gasoline and alllsd products do.... 11.951 Stocks, gasoline, sad of aonth: Finished gasolins do.... 78,669 Uhfinished gasolins do.... 8,882 Katural gasoline do.... *,266 BJBBSa AMD SDBBH& PBODOCTS natural rubbers Consuaption long tons. 52.076 Stocks, snd of aonth... do... 110.752 Synthetic rubbsr: Production do... 37.825 Consuaption* .do... 39.091 Stocks, snd of aonth .do... 67.871 j / Bsrised. Sept saber Horeaber | Deceaber Ltasber (National L»aber Manufacturers Association) 1 j Production, total vt bd. f t . Hardwoods Softwoods Shlpaente, total. Hardwoods Softwoods...... Stocks, gross, sad of aonth, total do... Hardwoods * •• • Softwoods PiPKK AMD PKXNTINQ Wood pulps Production, total, all grades Bleached sulphate Unbleached sulphats Bleached sulphite Unbleached sulphite 19*8 19*7 Writer data are arailable in aonthly issuss of the Surrey and the 1947 Supplement LIMBSR AMD KAHOTACWHIS S T A T IS T I C S — Continued 650 2.113 2,844 64l 2.203 5.557 2,01$ 3.539 976,615 91.569 '338.997 155.379 69.718 1 98,928 i *.*39 ; 9.815 • 37.308 I 18,^52 j 2.895 21,615 : 71*.929 i 733.*?* ! 728,969 ; 215.050 i 89,886 ' 103.*95 i 95.773 I 5*.?3* . i 252.172 nifi 63.7*5 2*5.517 ! 2*5.*63 < 245.5*0 59.931 I65,443 165,858 October | November 3.3*0 i 791 ! 2.5*9 i 3.07* 678; 3.369 ; 6,866 2,27* *.592 7.200 ; ; 1,05*. 89* ; 104,289 ; | 385.829 . ! i 153.535 '76,263 j 41,668 ; 161.047 | 22*,929 5.725 ri 70.195; *i.582 ; 171.695 81,139 99,177 9.77* 16.053 19.920 . 19.057 : 2.967 . 23.512 1.157.317 116,651 *35.079 163.84b ; 76,687 44.069 : '276,59** 97.510 9*. 192 , 69,235 ; 8:8?-' 25*.285 87.500 i 258.303 ! 257.5*1 25*. 292 66.030 163.037 ! 161.280 228.401 : 8,901 j I rl,118,784 116,910 414.298; r781,115 . f782,456 r85.26o 196.866 198.251 '75.150 ; rHl l 603 I r268,295 ' 89,000 i '268.993 : r275,623 ' '277,511 . ^5.575 . 1*6,022 69.9*0 41, M 178,992 65.663 104,403 11.192 1*.328 5)692! r690,l421 '749,725 j r731.841; '289.295! 712,200 723,000 716,180 295.*90 '76,432 i 76,000 80,000 78,000 83,000 19,566 | *8*.317! '81.125j '232.737 ! r26l.219 ! '257.205 i 249,500 r92,500! 349,000 98.000 '253.225! r267,7701 r26l,038 r71,000 ! 261,000 259,000 262,000 68,000 255.000 170,2*2; 170,166 | 240,083! 9,983 i 33.1*0 j 39.313 j 32.*3* 38.315 5l.«081 *7,<091 £ ,320 I .005 | 82,920 72.363 83.909 77,033 4,121 | 1/8,884 | 4,580 1/9.306 *.175 j 1/9.512 1 7*.505 I 79.*76 70,579 12.833 09.588 I 12.916 J8.445 | 83.111 9.192 *.296 6,287 8.*57 6.173 87,375 8,31* 5.857 56.2«f 129.038 52,131 123.912 *9.$17 118,187 '113.251 J51.632 45.644 1*0,999 38.13* 37.890 39. » 5 98,8*6 41,419 38.367 102,842 **0,J79 '37.690 '107.297 *2.1J7 35.S&8 1/ Hew basis sxcluding distributors* stocks in California; sss nets on corresponding itm in the January 1949 Surrey. M a . 721 16.935 2,880 28,«92 '18,556 174,581 173.*29 ! ?3*.6l5 i 9.357 ! 83.969 1,021,365 '76.589 42,476 188,297; 73.558: rl08,189 , 11.125j 14.098; '2*7.927 i 28,960 3*.*93 « I.S9 7.680 2.*58 5.222 '159.849 | 39 75,1*0 66,770 12,357 593 2.027 5.031 82,936 i 103,265 9,191 16,486 23.872 20,640 3.241 21,486 267,410 2,620 2,400 I84 t t03 r 7**, 66l 83.878 = : 2,374 | 4,826 7*3.572 7*2.883 73*.168 2,929 707 2,222 2.65* 682 1.972 7.43I 837 •: 2.532 : 2.?*9 Deoenber II6.O9*