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SURVEY OF CURRENT BUSINESS
WEEKLY SUPPLEMENT
UNITED STATES DEPARTMENT OF COMMERCE
BUREAU OF FOREIGN AND DOMESTIC COMMERCE
WASHINGTON, D. C, FEBRUARY 20, 1941
SUMMARY OF BUSINESS TRENDS
INDUSTRIAL production in January advanced to a new record
A
for the fourth consecutive month, the Reserve Board's index
rising to 139 from a revised figure of 138 in December. As in
December, the rise in the index resulted from the maintenance
of the high volume of production established previously against
the usual seasonal slackening. The largest rise on a seasonally
adjusted basis took place in the production of durable goods as
advances in automobiles, metals, lumber, and machinery produced a 5-point rise in this component of the index. Together
with a small rise in mineral output, the durable-goods advance
more than offset a decline in the adjusted volume of nondurable
goods production. Little change from these high rates of output
is indicated by weekly data for the first half of February. Inasmuch as a seasonal rise usually occurs in this month, a further
increase in the seasonally adjusted index will encounter resistance
from this source.
Regional reports on factory employment and pay rolls indicate
little, if any, decline during January, although a seasonal drop
usually occurs at this time. Data from New York, which
generally reflect the trend for the country, show no change in
employment and an increase of 0.4 percent in pay rolls. January
declines are usually about 2 percent in both of these items. In
New York, gains in metals and machinery plants and in other
defense industries were sufficient to offset seasonal recessions in
consumer goods industries. In the Detroit area the record activity in the automobile industry, as well as defense expansion,
pushed the index of industrial employment to 123 at the end of
January, compared with 121.5 a month earlier.
Although construction contract awards* dropped sharply in
January from the exceptionally high December total, business is
still receiving strong support from the high rate of activity generated by previous awards. Contracts reported by the F. W.
Dodge Corporation totaled $305 million in January, compared
with $456 million in December, the drop being almost entirely
the result of a smaller volume of public awards. National defense projects, which have been let in large amounts and at irregular intervals in recent months, have been chiefly responsible
for fluctuations in the award totals since last August. A decrease in both residential and nonresidential awards of this type
were the main factors in the January decline of $147 million in
public contracts. The current business expansion, however, has
prevented the usual seasonal decline in private contracts which
have remained close to $200 million per month since last July.
In January these awards totaled $194 million compared with
$198 million in December, with private residential contracts increasing from $89 million to $100 million against the usual
seasonal decline.
SELECTED BUSINESS INDICATORS
STEEL INGOT PRODUCTION
CPERCENT OF CAPACITY)
ELECTRIC POWER PRODUCTION
(BILLIONS OF KILOWATT HOURS)
AUTOMOBILE PRODUCTION
(THOUSANDS OF VEHICLES)
BITUMINOUS COAL PRODUCTION
(DAILY AVERAGE-THOUSANDS OF TONS)
FREIGHT CAR LOADINGS
(THOUSANDS OF CARS)
COMMERCIAL LOANS
(BILLIONS OF DOLLARS)
-1940
^-1939
CRUDE OIL R U N S - T O - S T I L L S
(MILLIONS OF BARRELS - DAILY AVERAGE)
150
140
130
120
MISCELLANEOUS CAR LOADINGS
(THOUSANDS OF CARS)
COTTON CONSUMPTION
(DAILY AVERAGE- THOUSANDS OF BALES)
INDUSTRIAL PRODUCTION
{SEASONALLY ADJUSTED 1 9 3 5 - 3 9 - 100)
45
ttONTHtX DATA
/
f
no
100
90
80
E H.A. HOME MORTGAGES
^NUMBER SELECTED FOR APPRAISAL ON HOMESTOBE BUILT
y
.. . . . 1 . . 1 . .
1938
293082—41
J939
1940
i
1
1941
i
1938
1939
WEEKLY BUSINESS INDICATORS"
[Weekly average, 1923-25=100]
1941
Business activity:^
New York Times§.
Barron's
Business Week
Commodity prices, wholesale:
Dept. of labor, 1926=100:
Combined index.
Farm products
Food
All other
Fisher's index, 1926=100:
• Combined index
,
Copper, electrolyticXCotton, middling, spot
Construction contracts%.
Distribution: Carloadint
Employment, Detroit, fac
121.1 122.5 122.1 123. 7 101..9 103.6 94.1 93.9
96.7
\ 4 110.8
128. 6 107.
130.0 128.1 127.6 144.
6 110.2113.6 99.8 101.3
144.3144.0143.9
80.5
70.7
73.2
84.6
80.6
71.7
73.7
84.5
80.6
71.4
73.7
84.5
78.3
68.6
70.5
83.3
78/5
68.9
70.9
83.5
76.6
66.9
71.3
80.4
1940
1941
1939
1940
76.6
66.7
71.1
80.4
86.1 84.3 84.6 79.7 79.5
85.4 85.4 85.7
85.5 85.5 85.5 86.2 85.5 79.7 81.2 79.7 79.7
39.7 40.1 40.1 40.1 39.0 41.5 41.5 32.7 33.1
55.8
70.6 74.4 50.3
63.8 65.9 60.5 60.5
74.5 75.0 74.6
122.1 111.5
123.0
100.5
Finance—Continued.
Banking:
Debits, outside N. Y. C4_.__
Federal Reserve reporting
member banks:
Loans, total
T
Interest rates:
Call loansj
Time loanst
^
Currency in circulation^.
Production:
Automobiles
Bituminous coalt
Cotton consumption \.
Electric powert
Lumber..Petroleum*
Steel ingots©
.
Receipts, primary markets:
Cattle and calves.
Hogs
Cotton
Wheat
94.7 82.3
84.2 111. 9 103.0 113.8 108.7 96.1
75.0 74.7 74.5 74.3 74.3
68.1 65.7 65.4
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
178.6 177.8 176.5 175.9 176.1 152.8 152.6 137.9 137; 6
162.2 162.4 158.2 155.1 157.7 120.9 122.1101.6 107.5
98.6 98.8 96.9 94.5 89.1 97.2 84.9 86.0
150.2 149.7 152.0 124.0 125.4 106.5 106.5
169.5 169.9 169.9 170.7 148.6 151.4 135.0 136.1
51.9 56.2 56.1 60.7 42.8 42.4 37.0 36.8
179.4 178.0 178.5 179.1 184.4 182.9 164.8 162.9
170.8 170.5 170.8 169.8 168.7 118.0 123.0 94.1 91.7
49.0 56.7
44.9 49.1
72.3 83.8 77.3
26.5 28.6 29.7
70.0 50.9
51.6 56.1
53.1100.4
_
33.1 25.2
•Data do not cover calendar weeks in all cases.
^Seasonally adjusted.
JDaily average,
tWeekly average, 1928-30=100.
^Computed normal=100. Index revised beginning Jan. 8,1938; revised data not given in the Issue for Jan. 23,1941, and subsequent issues will be shown
©Index for week ended Feb. 22 is 166.4. Beginning Jan. 11,1941, index is based on production of steel ingots and castings.
Finance:
Bond yields^
Stock prices!
62.4 62.6 66.0 66.2
58.8 58.6 5S.2 58.2
89.5 92.0 93.8 95.5 97.1 111.5 110.4 104.9 104.8
1939
Feb. Feb. Feb. Jan. Jan F e b . F e b ,
25
18 17 10
1
15
8
Feb. Feb. Feb. J a n . J a n Feb. Feb. Feb. Feb.
11
15 *8
1
25 18 17 10 18
61.6
50.3
78.1
31.1
50.8
52.7
95.0
24.2
54.6
39.8
31.5
23.9
52.5
32.6
44.6
30.4
later.
WEEKLY BUSINESS STATISTICS *
1941
Feb. 15
C O M M O D I T Y PRICES, WHOLESALE
Copper, electrolytic, New York*
dol. per lb_
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.
FINANCE
Banking:
Debits, New York City
mil. of dol.
Debits, outside New York City (140 cities)
do...
Federal Reserve banks:
Reserve bank credit, total,
do...
IT. 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
TJ. 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 dol..
Interest rates, callloanst
percent..
Interest rates, time loanst
..
.do.__.
Exchange rates: Pound sterling^:
dollars..
Failures, commercial
number..
Currency in circulations..
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 (iV. Y. Times)X
dol. per s h a r e . .
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.-hr..
Petroleumt
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, ]. 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._
Feb. 8
Feb. 1
1940
Jan. 25
Jan.18
Feb. 17
1939
Feb. 10
Feb. 18
1938
Feb. 11
Feb. 19
Feb. 12
0.118
.108
2.55
38.23
.76
0.118
.109
2.54
38.20
.79
0.118
.109
2.54
38.22
.81
0.119
.109
2.52
38.24
.84
0.118
.106
2.51
38.33
.84
0.110
.113
2.33
37.00
0.112
.113
2.34
37.01
0.110
.089
2.31
0.110
.090
2.30
36.36
0.098
.090
2.44
38.88
0.098
.088
2.43
38.94
1.03
2,365
3,850
5,190
3,211
4,778
3,259
5,282
3,276
5,040
2,604
3,713
3,185
4,335
2,841
3,659
3,385
3,813
2,793
3,712
2,491
3,374
2,260
2,184
13,871
6,330
2,217
2,184
13,842
6,306
2,22S
2,184
14,347
6,799
2,256
2,184
14,410
6,864
2,254
2,184
14,414
2,530
2,477
12,151
5,580
2,518
2,477
12,097
5,523
2,587
2,564
8,707
3,166
2,584
2,564
9,018
3,459
2,600
2,564
7,216
1,364
2,594
2,564
7,205
1,412
22,981
5,452
16,871
10,382
22,798
5,452
16,847
10,378
22,932
5,425
16,368
9,950
5,427
16,397
9,977
22,703
5,468
9,965
19,062
5,260
14,686
8,855
19,108
5,256
14,692
8,910
15,951
5,181
13,403
8,182
16,077
5,185
13,280
8,171
14,485
5,248
12,287
8,160
14,511
5,223
12,301
8,202
2,765
9,377
2,746
9,337
2,744
2,743
9,287
2,750
9,280
2,420
8,516
2,411
8,507
1,975
8,205
1,807
8,179
1,150
8,944
6,173
1.00
1.25
* 4.028
271
8,675
5,124
1.00.
1.25
«4.031
284
8,636
5,076
1.00
1.25
« 4.033
300
8,572
5,055
. 1.00
1.25
M.034
307
8,543
5,040
1.00
1.25
•4.035
283
8,552
4,309
. 1.00
1.25
3.958
292
7,420
4,314
1.00
1.25
3.981
251
7,412
3,761
1.00
1.25
4.686
293
6,697
3,745
1.00
1.25
4.686
318
6,651
4,392
LOO
1.25
5.027
1,146
8,925
4.402
1.00
1.25
5.013
6,310
6,314
28,210
3.39
2,689
33,270
3.38
2,276
89.33
77.6
90.0
75.9
27.2
43,160
3.36
2,975
91.05
78.5
91.1
77.0
27.3
47,520
3.36
2,573
92.78
79.9
92.8
77.8
28.0
49,120
3.36
2,774
94.30
81.5
95.0
78.7
27.9
27,070
3.60
2,860
108.32
91.9
107.8
87.7
29.0
33,510
3.61
3,735
107.24
91.3
107.1
87.4
28.7
25,820
3.81
2,860
101.89
90.5
106.9
84.2
27.9
30,530
3.82
3,536
101.73
91.1
107.4
85.2
28.5
33,620
4.22
3,318
89.71
79.6
94.4
70.2
28.0
4.27
3,052
87.75
79.6
94.6
79.6
27.6
127,675
1,680
2,824
3,618
*969
124,400
1,683
2,830
3,590
* 97.1
121,948
1,650
2,830
3,599
»96.5
11,339
124,025
1,609
2,844
3,612
*95.9
11,951
95,050
1,517
2,476
3,718
68.8
8,074
95,985
1,655
2,523
3,688
71.7
79,860
1,445
2,249
3,324
54.8
8,907
84,500
1,464
2,268
3,284
53.4
55,400
1.125
2,059
31.0
5,721
54,310
1,164
2,052
3,325
30.7
5,506
710,196
163,767
38,512
28,730
10,290
153,324
12,818
302,755
714,323
165,976
39,511
30,507
10,411
151,283
12,448
304,187
710,752
168,147
39,008
30,772
10,940
149,862
12,431
299,592
700,440
160,264
37,582
31,287
12,543
147,065
12,504
299,195
607,924
141,741
30,897
11,083
142,987
9,789
240,895
627,429
157,516
29,263
29,174
10,540
147,442
9,812
243,682
576,645
133,634
24,403
28,582
11,120
148,244
8,944
221,718
576,352
138,820
23,539
28,809
9,700
148,406
8,429
218,649
535,866
108,094
26,286
31,875
11,203
146,915
8,160
203,333
542,991
113,380
26,853
32,256
11,015
146,897
7,136
205,454
155
291
218
2,274
179
319
201
2,361
195
326
203
2,471
221
335
138
2,632
161
364
261
2,001
161
342
247
1,929
172
258
82
166
211
116
2,416
188
275
238
3,036
190
272
196
1,874
70.7
88.9
75.6
26.6
127,510
188
2,107
.
©Rate for week ended Feb. 22 is 94.6.
^Source: Ward's Automotive Reports.
tDaily average.
©Data do not cover calendar weeks in all cases.
§ Data for 1938 not strictly comparable with data for later years; see note on corresponding data shown on p. 51 of the 1940 Supplement.
"Free rate.
*Based on estimated capacity Dee. 31,1940, including open-hearth, bessemer, and electric furnace ingots, and steel for castings produced by any process.
MONTHLY BUSINESS STATISTICS
Monthly statistics through December 1939, to- 1941
gether with explanatory notes and references
- to the sources of the data, may be found in the
January January Febru1940 Supplement to the Survey
BUSINESS INDEXES
Pages 7,8, 9
Industrial production (F. i?.):t
Combined index, unadjusted. --1935-39=100- _
Manufactures, unadjusted
do
Minerals, unadjusted
do
Combined index, adjusted
do
Manufactures, adjusted
do
Automobiles
do
Textiles and products
do
Minerals, adjusted
do
COMMODITY PRICES
Page 12
Retail prices:
Fairchild's index:
Combined index
Dec. 31,1930=100..
Inf ants'
do
Men's..
do
Women's
.
do
Home furnishings
do...
Piece goods
do...
CONSTRUCTION AND REAL ESTATE
Pages 19, 20
- — .Highway construction:
Concrete pavement contract awards:
Total
___thous. sq. yd_.
Roads
do__,
Streets and alleys
do..,
Construction cost indexes:
American Appraisal Co.:t
Average, 30 cities
,.1913=100.
Atlanta
_.
do..,
New York
do,..
San Francisco
do...
St. Louis...
do__.
Associated General Contractors (all types)
1913=100..
DOMESTIC TRADE
Retail trade:
Chain-store sales, indexes:
Chain-Store Age, combined index (20
chains)..av. same month 1929-31=100
Apparel chains
...do
Variety-store sales, combined sales,7chains:t
Unadjusted
.
1935-39=100Adjusted
_
do.
FINANCE
Pages 52, 63, 54, 56, 71, 72, 73, 74, 76
Banking:
Saving deposits:
Savings banks in New York State:
Amount due depositors
mil. of dol..
Commercial failures :f
Grand total
number..
Liabilities, grand total
thous. of dol._
Security markets:
Bonds:
Prices:
Average price of all listed bonds (N. Y.
S. E.)_
...dollars..
'Domestic
do
Foreign
do
Value, issues listed on N. Y. S. E.:
Face value, all issues..
mil. of dol._
Domestic issues
do
Foreign issues
do....
Market value, all issues.......
do.. „.
Domestic issues
do
Foreign issues...
.
do
Yields (Moody's):
Domestic corporate
percent..
By ratings:
Aaa
do
Aa
do_...
A
do....
do
P
1940
March
April
May
June
July
August
ieptem- October Novem- December
ber
ber
113
114
112
116
316
129
108
114
112
112
110
113
112
120
100
117
112
112
111
111
110
103
100
119
116
116
118
115
114
101
104
118
121
122
118
321
122
106
107
118
118
318
121
121
121
87
113
120
120
120
117
121
122
76
113
114
129
130
121
125
127
109
116
116
134
136
122
129
131
130
123
113
135
137
119
132
335
133
134
117
'135
J>142
*149
»134
P119
117
118
115
122
123
129
118
118
94.2
92.3
92.6
92.8
92.8
92.8
92.9
92.9
92.9
93.2
93.5
93.7
93.9
97.6
89.3
93.0
95.8
87.3
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
96.9
89.1
92.1
94.6
86.0
97.0
89.1
92.2
94.6
86.0
97.3
89.1
91.8
95.0
86.7
97.3
89.3
92.1
95.3
86.7
97.7
89.3
91.6
95.6
86.8
97.6
89.3
••92.5
95.7
87.0
4,135
2,814
1,321
2,597
1,730
867
3,122
2,297
825
2,486
1,827
659
4,058
3,170
7,537
5,496
2,041
6,288
4,575
1,713
5,227
3,406
1,821
6,416
4,049
2,368
4,744
3,170
1,574
5,960
3,673
2,287
3,855
2,197
1,658
3,852
2,202
1,590
212
208
231
194
216
203
192
221
184
211
203
191
221
184
211
202
189
221
183
210
203
190
221
183
210
202
191
220
184
208
202
191
220
184
208
202
192
220
184
209
202
192
220
184
206
195
225
190
212
198
227
191
214
208
198
228
191
214
212
202
230
164
217
193
188
187
187
187
187
188
188
124.0
133.0
113.5
120.0
114.0
119.0
115.0
128.0
115.0
122.0
117.0
123.0
119.0
120.0
119.0
132.0
122.8
134.0
121.0
137.0
120.0
132.0
124.0
136.0
128.0
149.0
J-80.4
109.8
76.1
104.0
83.5
105.3
99.3
105.4
92.1
103.2
101.7
105.2
99.5
104.4
97.6
106.5
95.8
109.2
103.9
108.1
108.0
109.7
112.9
109.7
'225.2
••110.3,
6,664
5,616
5,632
5,676
5,660
5,644
5,670
5,631
5,629
5,657
5,635
5,639
5,683
1,291
16,247
1,238
13,068
1,114
13, 734
1,175
16,213
1,128
12,997
976
11,397
1,111
12,715
1, Q24
16,572
1,086
13,309
87.87
92.47
38.38
90.14
94.93
39.09
90.96
95.62
40.64
91.33
95.72
43.28
92.08
96.56
43.07
92.84
97.03
44.86
93.58
97.78
45.60
93.84
98.10
45.07
54,237
53,913
54,329
49,877
49,400
49,966
4,360
4,514
4,363
49^i9~ —60,-438 - 6 0 . - 7 "
48,768
47,699
48,481
1,988
1,944 1,G57
54,169
49,820
4,349
50,831
48,871
1,961
••139
M14
••138
'141
'134
139
M18
193
191
1,124
11,888
1,237
15,279
1,042
13,472
1,197
11,681
93.05
97.16
45.81
92.02
95.70
52.00
91.97
95.68
51.58
92.86
96.55
52.77
92.48
96.51
48.86
54,139
49,799
4,340
50,374
48,386
1,988
49,440
4,548
49,679
47,314
2,365
53,937
49,400
4t 537
49,605
47,265
2,340
53,853
49,313
4,540
50,006
47,611
2,396
53,646
49,108
4,538
-49,612
47,395
2,217
3.36
3.63
3.60
3.58
3.54
3.65
3.72
3.57
3.55
3.50
3.46
3.40
3.36
2.75
2.95
3.36
4.38
2.88
3.08
3.69
4.86
2.86
3.05
3.68
4.83
2.84
3.04
3.65
4. SO
3.59
4.74
2.93
3. OS
3.65
4.94
2.96
3.10
3.70
5.11
2.88
3.01
3.57
4.80
2.85
3.03
3.55
4.76
2.82
3.01
3.52
4.66
2.79
3.01
3.48
4.56
2.75
2.96
3.40
4.48
2.71
2.92
3.3G
4.45
3.15
3.23
4.32
3.12
3.23
4.30
3.10
3.19
4.23
3.06
3.18
4.15
2.98
3.14
4.07
2.93
3. IS
4.03
53,431
53,914
52,879
53,414
48,903
49,399
48,347
48,879
4,528
4,515
4,532
4,535
-46,937- -47,666 - 4 8 , 6 0 2 - - 4 9 , 2 3 3
46,762
47,285
45,894
45,197
1,840
1,954
1,771
1,740
By groups:
3.25
3.20
3.09
3.05
3.12
3.14
2.96
Industrials
do
3.30
3.29
3.17
Public utilities
do....
3.24
3.33
3.35
4.46
4.37
3.96
Rails..
do
4.33
4.37
4.39
Stocks:
Cash dividend payments and rates
(Moody's):
Total annual payments at current rates
(600 companies)
mil. of dol._ 1,791.94 1,597.25 1,618.60 1,631.30 1,643.66 1,680.36 1,690.37
936.43
936.43
936.43
936.43
Number of shares, adjusted
millions.. 938.08
936.43
Dividend rate per share (weighted aver1.81
1.79
1.76
1.74
age) (600 cos.)
.dollars..
1.71
1.91
1.73
3.01
3.01
3.01
3.01
Banks (21)
.do
3.01
3.01
3.01
1.77
1.75
1.70
1.68
1.63
Industrials (492 cos.)
-do
1.89
1.67
2.44
2.44
2.64
2.64
2.64
Insurance (21 cos.)
do
2.54
2.64
1.96
1.96
1.96
1.95
1.95
Public utilities (30 cos.)
do.—
1.94
1.95
1.29
1.27
1.26
1.27
1.26
Rails (36 cos.)
do
1.53
1.26
r Revised.
p
v Preliminary.
jTreiimiiiary.
, 694.82 1,713.08 1,711.42 1,738.04
936.43
936.43
936.43
936.43
1.81
3.01
1.77
2.54
1.96
1.29
1.83
3.01
1.79
2.54
1.96
1.36
1.83
3.01
1.79
2.54
1.96
1.36
1.86
3.01
1.83
2.54
1.96
1.
,781.52 1,792.84
930.43
936.43
1.90
3.01
1.88
2.54
1.97
1.47
1.91
3.01
1.89
2.54
1.97
1.53
t Revised series. For revised indexes of industrial production see footnote marked with a " t " on p. 19 of the January 1941 SURVEY. Revised indexes of the American
Appraisal Co. beginning 1913 are available in table 44, p. 13 of the November 1940 SURVEY. Revised indexes of variety store sales beginning 1929 appear m table 30, p. 10 of
the August 1940 SURVEY. Commercial failures compiled on a new basis; see p. 31 of the March 1940 SURVEY.
4
MONTHLY BUSINESS STATISTICS—Continued
Monthly statistics through December 1939, to- 1941
gether with explanatory notes and references
to the sources of the data, may be found in the
Januar; Januar;
1940 Supplement to the Survey
1940
February
March
April
May
June
July
August
Septem
DecemOctober November
ber
FINANCE-Continued
Security markets.—Continued.
Stocks.—Continued.
Yields:
Common stocks (200), Moody's.percent.
Banks (15stocks)..
do
Industrials (125 stocks)
do.__
Insurance (10 stocks)
do _
Public utilities (25 stocks)_„___.do ...
Rails (25 stocks)
do...
Prices:
Shares listed, N. Y. S. E.:
Market value, all listed shares.
mil. of doL
Number of shares listed.
millions.
5.9
4.4
6.0
4.2
6.0
6.2
4.6
4.1
4.4
4.3
5.
4.8
4.6
4.0
4,5
4.3
5.3
4.7
4.6
4.1
4.5
4.3
5.2
4.7
4.6
4.1
4.5
4.3
5.3
4.8
6.1
5.2
6.1
4.9
6.3
6.3
5.7
4.8
5.9
4.5
5.7
5.7
5.6
4.7
5.7
4.5
5.7
5.5
5.6
4.7
5.6
4.8
5.7
5.6
5.5
4.7
5.5
4.4
5.8
5.5
5.4
4.3
5.5
4.2
5.7
5.3
5.6
4.3
5.7
4.1
6.0
5.8
5.7
4.3
5.7
4.2
5.9
6.2
40,280
1,455
45,637
1,441
46,058
1,441
46,695
1,444
1,446
36,547
1,447
38,775
1,450
39,992
1,454
40,706
1,454
41,492
1,453
42,674
1,453
41,848
1,457
41,891
1,455
25,463
87,555
81,005
114.362
123.628
138,049
134,266
148,173
128,087
149,309
105,106
143,633
67,598 ' 41,497
136,574
7,241
7,784
154,947 145,653
62,062 76,479
796
974
42,004 35,663
851,896 689,854
548,688 417,564
303,208 272,290
3,192
3,342
82,415 82,178
6,040
130,787
86.321
662
36,303
564,904
329.214
235,690
3,411
90,842
4,144
111,815
94,006
632
48,245
526,878
303,712
223,166
3,817
114,257
1,969
91,273
95,531
788
71,508
646,492
408,900
237,592
4,427
159,110
'614
73,326
98,338
' 1,164
'106,990
'950,238
'656,169
••294,069
5,119
'208,365
FOODSTUFFS AND TOBACCO
Pages 101, 102,109,110, 111, 112, 114, 115
Stocks, cold storage, end of month:
Butter, creamery
..thous. of lb.
29,894 29,189
18,366
9,504
8.875
Cheese, total
do... 123,266 94,295 82,664
74,937 78,706
Eggs:
Shell
thous. of cases.
311
81
57
3,341
854
Frozen
thous. of lb.
53,886
56,249 38,070 44,199
79,454
Fish, total (15th of month)
do...
85.576
78,563 62,622 45,592 34,835
Total meats
.mil. of lb.
1,260
1.093
977
1,031
1,100
Beef and veal
thous. of lb. 108,637 78,573
74,708 72,560 62,020
Pork, total
do.,- ,048,489 790,776 907,293 921,510 878,008
Fresh and cured
do
741,108 588,601 650,653 652,733 611,956
Lard
do
307,381 202,175 256.640 268.777 266,052
Lamb and mutton
do
4,689
4,488
4,412
3.580
4,257
Poultry
_
__
do
191,648 166,962 144,759 115,442 86,226
Livestock:
Cattle and calves:
Eeceipts, principal markets
thous. of animals1,565
1,554
1,359
1,247
1,600
Disposition:
Local slaughter.
__
do...
964
810
997
974
825
Shipments, total
do...
623
433
548
568
516
Hogs:
Receipts, principal markets
do...
3,039
3,772
2,595
2,710
2,022
Disposition:
Local slaughter
do...
2,074
2,148
2,753
1,868
1,964
Shipments, total
do.._
841
SSI
1,007
713
749
Sheep and lambs:
Receipts, principal markets
do.__.
1,721
1,728
1,876
1,440
1,424
Disposition:
Local slaughter. „
do
997
863
1,071
1,046
824
Shipments, total..
do
718
559
653
828
Tobacco:
Manufactured products:
Consumption (tax-paid withdrawals):
Small cigarettes
millions- 16,287 14,568
13,163 13,021 14,820
Large cigars
thousands- 403,166 388,085 375,824 397,490 425,140
Manufactured tobacco and snuff
thous. of lb..
26,742 26,857 27,550 28,481
LEATHER AND PRODUCTS
Page 123
Leather:
Production:
Calf and kip
thous. of skins..
Cattle hides
thous. of hides..
Goat and kid_
_thous. of skins..
Sheep and lamb
do
Stocks of cattle hides and leather, end of month:
Total.__
thous. of equiv. hides..
In process and finished
do
Raw
do....
PAPER AND PRINTING
Pages 145,146
Paper:
Newsprint:
Canada:
Production
short tons..
Shipments from mills
do
Stocks, at mills, end of month
do -United States:
Consumption by publishers
do...
Production
do
Shipments from mills
do
Stocks, end of month:
At mills
;
do.
At publishers
do
In transit to publishers
~__do
5,980
7,513
123,793 150,366
33,756 45,473
1,010
1,034
53,193 46,972
876,512 905,296
592,575 598,52,2
283,937 306.774
3,463
3,254
76,904 82,336
1,576
1,462
1,737
1,785
2,175
2,427
936
631
858
594
991
723
939
833
1,033
1,083
1,110
1,324
977
892
976
624
2,674
2,650
2,259
2,177
2,302
3,113
3,595
3,787
2,005
666
1,927
718
1,598
649
1,497
677
2,682
905
2,823
601
2,371
730
2,002
1,687
1,894
2,068
2,523
2,737
1,776
1,077
917
16,275
469,313
915
779
972
921
17,565 15,913
435,029 460,523
29,924
27,660
15,840 14,890
487,642 475,725
28,849
28,729
1,085
1,669
908
883
917
16,448 14,347 13,815
583,508 507,349 349,779
34,718 28,596 24,758
954
1,892
3,246
••2,968
1,700
3,226
'3,052
888
1,566
3,411
'3,212
991
1,590
3,247
'3,357
1,452
3,074
'2,880
953
1,534
3,096
' 2,873
996
1,739
3,026
'3,261
844
1,597
2,823
'3,050
977
1,977
3,089
3,643
917
961
' 1,941
2,038
2,665
3,215
'3,411 • 3,320
13,029
9,357
3,672
12,887
9,203
3,684
12,578
8,911
3,667
12,529
8,730
3,799
12,508
8,812
3,696
12,737
8,891
3,846
12,621
8,743
3,878
12,566
8,629
3,037
12,740
8,708
4,032
13,176
8,935
4,241
• 13,571 13,873
' 9,165
9,359
'4,406
4,514
323,563
334,441
203,672
315,343
338,446
180,569
251,032 231,823
244,273 211,322
176,261 196,762
251,279 268,047
235,304 267,134
212,737 214,550
229,799
89,124
84,141
!18,488 216,095
84,126 8J,455
SO, 959 79,072
251,269
85,143
86,930
244,181 257,565
86,277 90,207
85,412 88,912
16,119
285,776
42,760
17,602
278,306
38,061
15,815
246,228
38,727
16,680
238,670
42,329
17,975
17,543 13,893
247, 206 257,567 318,609
43,312 47,435 44,679
731,793
661,771
747
37
627,194
434
10
623,098
345
11
641,636
226
14
TEXTILE PRODUCTS
Page 153
Cotton:
Consumption
bales.. 843,274
Exports (excluding linters)...thous. of bales..
52
Imports (excluding linters)
do
10
954
1,530
1,094
1,970
3,662
'2,893
261,298
243,394
170,275
1S,43S
301,562
34,719
876
1,188
960
1,597
1,035
332,689 316,607
337,508 332,234
175,750 160,123
241,639 206,913
84,762 82,579
85,194 86,229
565,416
134
12
622,723
137
18
213,105
86,633
81,714
282,322 309,957" 282,344
284,133 287,943 286,739
158,312 180,326 175,931
252,897
276,457
152,371
261,028 251,457
88,192 85,338
88,774 87,331
256,036
80,837
84,037
238,176
77,888
77,470
18,812 19,230 18,648 16,655 14,455
361,179 364,207 339,211 327,913 308,880
46,245 45,919 42,039 39,188 47,502
654,503
65
10
639,252
91
4
770,702 744,088
194
145
16
12
775,472
107
6
' Revised.
• Data for December are the latest available.
NOTE.—-The data in the above tables present, in advance of the monthly Survey of Current Business, such items as were received during the week ended Saturday, February 15,1941. These figures, like similar Information in the table entitled "Monthly business statistics" in each monthly issue, should always be read in connection with the
detailed tables covering the respective items in the 1940 Supplement to the Survey of Current Business, which contains a description of each series and a reference to the source
of the data. Series marked with an asterisk (*) are exceptions, representing additions since the 1940 Supplement was issued, and similar data, if published, will be found in the
monthly numbers indicated by the footnotes. Changes in the series are also indicated in the footnotes. The Survey of Current Business, including 12 monthly SURVEYS of
56 pages each, and the 52 Weekly Supplements, may be obtained from the Superintendent of Documents, Washington, D. O.f for $2 per year. The 1940 Supplement may be
obtained from the same source upon receipt of $0.40.
U. 3 . GOVERNMENT PRINTING OFFICE: t94l
@FedFRASER