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SURVEY OF C U R R E N T B U S I N E S S WEEKLY SUPPLEMENT UNITED STATES D E P A R T M E N T O F C O M M E R C E BUREAU OF FOREIGN AND DOMESTIC COMMERCE AVAIljgigaPNLY WITH SUBSCRIPTION TO SURVEY Of CURRENT BUSINESS JANUARY 12,1951 ;.„"",r.."i..1— SELECTED STEEL BUSINESS INGOT PRODUCTION I I I I I M I '-ijJ t u i L u l l n h INDICATORS ELECTRIC POWER PRODUCTION BY UTILITIES (BILLIONS OF KILOWATT-HOURS) 0935-39 "100) 225 i M L U J L L U I \, i i m l i n i \. m . DEPARTMENT STORE SALES AND STOCKS (b EASONALL.Y AOJUSTED, 193 5-39 = 100) PERSONAL INCOME (BILLIONS OF DOLLARS, SEASONALLY ADJUSTED, AT ANNUAL RATES) 2SO 200 350 MONTHLY DATA 300 •»••••— ^ * ^ 5 nL PERSONAL INCOME 250 150 MONTHLY DATA 50 ^WAGE y* -c-^ SALES u^-^-v;F ^ C W S ^ » k Jha ^ < / j ^^^^-STOCKS (END OF MONTH) 200 100 BSsassssa AND SALAA Y RECEIPTS 150 .L.L1..1 1 J , U.JL.I.,1 _.J . L L . 1 . L , ! M i l l 1, I l . J J L . L l ..1, l.„ !.J_..,_!_. L,l J l_l,,J. J J 1. 1 J WEEKLY 100 BUSINESS 1 1 1 1 1 1 1 1 1 L - L- L - J-JJLoJ.JLJUL.LJU. 1 1 ,*.,.J „.l ,,l 1 L i .J.J- i.i 1 IJ-.1I STATISTICS1 1949 1950 1951 I'm Dec. 31 1 1 1 1J Jan. 7 Dec. 9 Dee. 16 Commodity prices, wholesale: All commodities 1926*100 151-2 173.6 151.1 172.7 farm products ... o...,. de.. 154.6 186.5 155-7 1S7.5 food de.. 180.5 180.0 155.3 154.3 M l other.......... do.. I63.4 164.5 1**5.6 1^5.6 28 commodities 2 / August 1939*100 356.0 247-7 354.7 249.7 Cotton, middling, 15/16% 10 markets V . . d o l . per l b .307 .422 .420 .308 Wheat, Ho. 2, hard winter (Kansas City) j / . . . . . . d o l « per bu 2.21 2.34 2.28 2.23 Department store sales . 1935-39*100 638 197 554 205 Insured unemployment, total * thous 1,057 2,451 1.059 2,6o4 State programs do.. 1,01S 2,227 1,016 2.376 Veterans1 programs • •• -.. do.. 6 61 64 finances 6 Currency i n circulation jJ mil. of dol 27.705 27 f ?35 27. federal Beserve hank credit, total ...;...„ do.. 19.379 19.471 27.722 Member bank reserve balances do.. 16,299 I7&5 17.?55 20,922 Excess reserves, estimated . , ...do.. S3 7 1.150 1.458 17.049 federal Beserve reporting member banks i n leading c i t i e s * 957 24,194 Bank debit*, t o t a l . . . . . mil. of dol 19.329 27,207 29.274 10.233 Hew Tork City do.. • 7.772 11,669 13.123 47.975 Deposits, demand, adjusted do.. ^.253 51.676 50.452 Loans and investment s, total do.. 67,421 67,222 70,101 69,807 37.469 U . S . Government obligations . . .do.. 37,514 33.439 32.924 13.904 Commercial, Industrial, and agr. loans (gross) do.. 17,^1 1 3 17.261 109 ^ f a i l u r e s , industrial and commercial .number 150 170 2.S5 Bond y i e l d s , domestic corporate (Moody's) j / - - . *. - ....percent 2.84 2.88 2.89 Stock prices; 4l6 stocks (Standard and fOor's) 1935-39*100 1^4.9 133-5 156.9 155.0 141.2 Industrials, 365 stocks do.. 142.6 169.5 Production: 167.5 Bituminous coal 5 / • thous. of short tons 1,130 2,001 1.328 1,903 Electric power, by u t i l i t i e s .mil. of kw-hr 5.695 5.4?3 6.985 6,909 Motor vehicles (Ward*s) ..number 164,318 110,326 106,744 15^.731 Petroleum, crude j / thous. of bbl, 4.933 5.646 4,865 5.678 Steel 4 / 1935-39*100 192.3 218.9 217.1 198.4 freight carloadings, total thorns, of ears 496 767 507 Miscellaneous do.., 25S 380 270 1/ Data do not always corer calendar weeks. 2/ Thursday prices. J/ Daily averages. 4/ ¥eek ending, January 3 Dec. 23 Dee. 30 174.7 188.5 180.8 165.2 363.O .%2 2.^0 639 176.0 190.6 181.4 165.9 367.6 27,951 21,864 17.416 929 27.850 21,720 17,174 790 P»583 12,430 51.770 71,*i44 33.854 17.801 174 2.88 159-7 172.6 24,772 9.983 51.672 71.834 33.719 17.839 125 2.87 162.0 175.1 1.838 7.033 152.705 5.685 1,820 6.479 127.033 5.691 216.3 602 305 217-8 747 375 13, 221.9. 2.40 237 Jan. 6 176.7 189-7 182.2 I67.O 373.0 .436 2.40 27.657 21,879 17,691 1,206 13.553 144 2.86 164.9 178.3 93.123 "219.9 MONTHLY 2 BUSINESS Rarller data are available in monthly Issues of the Survey and the X9U9 Statistical Supplement STATISTICS 1949 1990 Hovember December September 205-7 131-3 133-5 55.5 39-0 17.8 21.1 2.1 4l-7 17-2 12.1* 187-6 2.905 208.4 132-9 135.1 57.0 39-3 17.8 228.7 147.8 150.6 '231-1 TI50.7 41.6 18.8 23.7 2.8 3.4 45.0 21.1 11.4 211.2 1*1.9 rl9-2 rfifr.l October Soremher CHORAL BU3IBKSS IBDICATORS Personal income, seasonally adjusted, at annual rates: Total personal Income.. ..... .1)11. of dol " W%e ''and' .salary receipts, t o t a l . . . . . . do*. Employer disbursements, total * . . .do.. aommodlt^producing industries. • do. • £1 strlbueive industries >• .do. • Service industries do.. Government . . . . . . .do. . Less employee contributions for social insurance..do.. Other labor income. *• do.. Proprietors 1 and rental income ..... do.. Personal interest income and dividends do.. Total transfer payments do.. Total n onagri cultural income.. ....do.. farm income and marketings* Cash receipts from farming, including Government payments, total m i l . of dol farm marketings and COG loans, total . .do.., Crops .. .......do.., Livestock and products, total. do.• Dairy products • .do. o Neat animals = ,., .do. •, Poultry and eggs c............. do.. Indexes for cash receipts from marketings and CCC loans, all commodities 1/ .1935-39-100, Crops do... L i v e s t o c k and p r o d u c t s . .do* Indexes of v o l . o f farm m a r k e t i n g s , a l l commodities l / . . d o . . . Crops. ... do... L i v e s t o c k and p r o d u c t s .do... 1.359 272 306 *35 537 a6 a.o 2.2 3.1 40.6 18.9 12.9 191.1 2^64 1,258 1,206 274 646 273 ?71 441 318 I65 187 159 66.5 roV.6 -J* «45-7 r!9.2 rl2.1 r212.7 231.9 i54-3 68.6 4l.8 19.2 24.7 3 3 46.1 19. 11. 213.O 2.913 2.906 1,452 1,454 305 883 248 '3.584 '3.572 r2,038 1.534 301 990 437 167 194 147 538 715 405 201 259 158 P3.277 P3.261 pl.781 pl,480 P276 P870 P319 p484 p608 P391 P172 pl92 P157 COMMODITY PRICES fietail p r i c e s , U. S. Department of Commerce: a l l commodities, i n d e x 1935-39»1Q0. 185.7 184.4 192.6 193-9 194.8 Linage, total (52 c i t i e s ) thous* of l i n e s . Classified do... Display, total .do... Automotive •.... .do... financial do... General do. •. Retail • do... Retail trade! a l l r e t a i l stores, estimated sales, total 2/... mil. of dol. Durable-goods stores. .do... nondurable-goods stores do... Department store s a l e s , United States totals Unadjusted index 193^-39*100. adjusted index ....do... 207,909 207,865 36,061 171.805 7.330 2.139 26,337 135.999 207,305 45,888 161.417 8,793 2,091 32,705 117.829 230,288 ^7.678 182,610 H.314 2,531 41,222 127.542 226,880 42,944 183,936 11,721 2.267 39,502 130,447 10.503 3.145 7.358 12.133 4,417 7.716 11.759 r4,179 '7.580 11,390 3.670 7,720 r3*K> r278 481 293 331 320 r291 '356 r291 62t927 59.518 7.878 62t( 58.51 6.773 51.783 3.^89 63.567 61,226 7.811 53.\15 2,341 61.764 8,491 53.273 1.9*0 63.512 61.271 7.551 53.721 2,240 W.272 18.267 17.682 23.352 44,272 17.793 16,038 671 *5.6U3 19.^99 18.885 23.176 45.643 18,906 16,568 1,018 23.^83 45,604 20.340 19.572 DOMESTIC TRADE Newspaper a d v e r t i s i n g s 169.603 9.891 2.337 33. « 9 123.686 10,630 3.334 7.96 IKPLOttGSr* Labor force (Bureau of the Census): Civilian labor f o r c e . . . . . Snployment Agricultural Honagricultural Unemployment thousands. do... do. •. do. • . do.. • Sl.fto 7HUHCB federal Reserve banks, condition, end of month: Assets, total ..mil. of dol. Reserve bank credit outstanding, total.. do... United States securities. ... do... Gold certificate reserves do... Liabilities, total .. .do... Deposits, total.... > . do... Member bank reserve balances. .do..'. Sxcess reserves ( e s t i m a t e d ) . . . . . . . . . . . . . . . . . . . . . d o . . • federal Reserve notes in circulation ,. do... &9*9trQ ratio. percent. federal Government finance: Debt, gross, end of month*. . . a l l . ef dol. Interest bearing: Public Issues do... Special i s s u e s . . . . • do... Koninterest bearing. .do.. • Obligations guaranteed by U. S., amount outstanding.. .do.... Gold, monetary stock, United States.* do... Currency in c i r c u l a t i o n . . . . do... Digitizedrjfora«vt«Mwu FRASER « / Preliminary, l/ Unadjusted. 2/ Adjusted. «m 256,982 221,895 33.829 1.858 24.479 27. * 3 45,4*8 20,638 19.693 ss £B 257.130 19.197 16.709 888 22,997 52.7 257.a6 256.937 221,123 221,572 221,191 2.111 30 24,427 27.600 2.247 20 VM3 27.161 33.53? 2,206 22 23.2*9 27.228 18,682 16,763 r649 35.397 51.8 257.077 2 a , 156 33.732 23.037 '27,595 MONTHLY BUSINESS Earlier data are available in monthly iseaes of the Survey wad the 1949 Statistical Supplement S T A T I STICS—Continued 3 19^ Soveaher IW Beceaber September October lovember KlalOB - Continued Life insurance, a s s e t s , admitted? a l l companies ( I n s t i t u t e of Life Insurance), estimated total,,.,.... . . . . . a l l . of dol. 58,699 Securities aad mortgagee .do... 53,171 1*9 companies (Lifa Insurance Assn. of America) • total. .do.., *52*39l Bonds aad stock©, book value, total ..do... 37,162 Government (domestic aad foreign), total. ..de... 15.797 U. S, Government do... rl3.683 Public utility do... *9.aS2 Bai lroad do... 2,859 Other 4 .do. ... r9,242 Cash.. ;...•...... .do... r©9« Mortgage loans, total ..do... 10,38$ Para , .do... 966 Other .do,.. SM& Policy loans and premium notes .do... 1,925 Beal estate holdings .. .do... 1,090 Other admitted assets.. .do... rl,12S Bonds: Prices? TJ. S. Treasury bonds (taxable)........dol. per $100 bond. 104.22 Salss (decuritlos and Sbcehaage Commission): $otal on all registered exchanges* Market value •.thous. of dol. 64,646 Pace value »... .do.,. On He* York: Stock Exchange: Market value ... do... 60,157 Pace value .do*.. 79.064 Yields? Standard and Poor's Corporations Somes tie auniclpal (15 bonds) •, .percent. 2.17 U. 8, treasury bonds (taxable) do... 2.3) Stocks? Pricesi Bow-Jones & Co. (65 stocks) dol. per share. 67-'*« Industrial (30 stocks) .do.., 191 x.i Public u t i l i t y (15 stocks) do... 39-22 Bailroad (20 stocks) * * ..do... 48.46 Standard and Poor's Corporationt Combined index (4l6 stocks) 1935-39*100. 129-1 Industrial (365 stocks) do... 136.5 Capital goods (121 stocks) do... 123.S Consumers1 goods (182 stocks) • do... 135.2 Public u t i l i t y (31 stocks) ...do... 102.6 Bailroad (20 stocks) do... 96.2 Sales (Securities and Exchange Commission): Total on a l l registered exchanges: Market value. .mil. of dol. 1,222 Shares sold thousands. 55.^5 On Hew York Stock Exchange: Market value ... mil. of dol. Shares sold thousands. 40 Yields: 1 Standard and Poor s Corporation: Preferred, high-grade ( U stocks) percent. 3-89 CEHMICALS AMD ALLIKD PRODUCTS Pate, o i l s , and byproducts: Animal f a t s : Production thous. of l b . 338,009 Stocks, end of month .do... 251.195 Greases: Production.. ....do... 5M61 Stocks, end of month do... 112,412 Pish o i l s : Production ... do... 8,436 Stocks, end of month....,.... • ......do... 94,776 Vegetable oils: Production, crude do... 600,672 Stocks, end of month: Crude...... do. •. 963,3^ Bef1 ned do... 288,376 Cottonseed oil, refined: Production do... 188,938 Stocks, end of month do... 174,981 Unseed oil: Production ,.. do... 62,856 Stocks, end of month do... 462,934 Soybean o i l : Production: Crude do... 165^73 Hefiaed .. do..., 133.H42 Stocks, end of month: Crude do... 69,^05 Refined .... do... 57.976 Oleomargarine: Production. ... . d o . . . 71.278 Stocks ( factory and warehouse) do... 14,117 r/ Revised. 1/ See note on corresponding item in the Beceaber 1950 Survey. 59.280 53.652 52.SB 37.397 15.9a 13.779 9,3J^ 2,864 9.298 706 10,569 978 9.591 1.93^ 1,102 I.171 104.36 56,224 55.381 37.758 15,045 12,839 9,9% 2.973 9,797 712 12,302 1,110 11,192 2,036 1,228 1.3*6 62,706 56,33* 55.669 14*667 12,502 10,042 2,988 9.811 848 12,570 1,125 11,445 2,047 Ii4l2 §1i 50.052 55.932 37,522 l4,4l4 12, a 8 10,092 2,987 10,030 799 12,866 1.136 11.731 2,056 1.259 1,*29 101.90 101.64 101.69 84,642 111,120 68,654 84,250 77.«33 93.748 76,91k 9^.709 80,274 105,909 65.795 80,272 7^,681 90,132 74,646 91,786 2.13 2.19 1.88 2.36 1.82 2.38 1-79 2.38 70,35 196.7& 40.55 51 - a 80.21 223 • a 39-44 65.93 S2.91 ?? % 46:63 69.09 i-:b.4l 'X?2 132-7 1H0.3 128.6 140.2 104,1 101.0 151.7 163.3 153-2 155.4 104.9 125-1 157-8 170.7 159.3 l64,<* 106.2 129-2 156.1 16S.8 159.9 160,2 105.0 126.5 1,480 68,535 1 ? 608 63,712 2,090 84,451 1,864 66,685 1.252 52,028 1.380 48,009 I.796 64,422 l,6l8 51.231 3.88 3.85 3.88 3.88 378,469 316,248 260,795 240,930 300,360 r221,073 246,609 55.935 1U.379 50,5a 94,200 52.751 86,676 58.895 82,816 10,076 106,261 22,517 1/75.917 22,961 rl/68,503 11,247 1/69,024 552,922 ,042,184 337.698 >30.5^ 1/825.939 189,396 r56o,274 rl/884,304 r215,669 570,676 1/960,674 269,148 172,9to a s , 210 85.825 73.6a 143,075 107,144 160,209 155.036 61,681 485,112 7.316 1,102 r68,708 r556*,570 72.635 591,636 rl90,723 r!53,276 r65,«96 r51,274 r i/7^.234 rl4,807 216,217 170,013 81,162 51.045 1/93.852 12,64^ 166,855 119.251 90,116 59.985 76,948 13.027 sa 53.358 60,116 1/64,829 16,811 December MONTHLY 4 BUSINESS Sarlier data. are available la monthly issues of the Survey and the l$kS Statistical Supplement S T A T I S T I C S —Continued 194* October 1950 Hovember August September October IOCOSSSOTS D i s t i l l e d spirit** Production. . ... thous. of tax gal fas-paid withdrawals ...... do.. Stocks, end of m o n t h . . . . . . . . . . . . . .-. .• do.., 670,39S 19.771 12,073 669,884 33.042 16,142 720,296 41.863 11.348 734,968 47.852 30,128 760,806 6,103 603,298 12.1*18 11,246 9,705 606,015 12,764 11,616 15.072 9.869 647,062 16,230 14.029 17.758 6.455 656.999 11,081 9.741 20,536 5.939 670,213 10.233 9.037 861 M69 2.743 2,687 34,959 27,*72 7.256 1,147 12,887 3.957 2,625 6,581 279 227 1.052 2,300 3.260 x 3.373 48.77© 4l,82k 9,519 1.777 22,300 5.267 2,961 6.199 355 392 93p r2,084 2.862 r2.868 r43,928 737.355 *9.155 rl,689 r!8,8l0 r4,807 r2,894 ^5.783 y?63 r427 962 2,192 3.200 2,856 44,050 36,703 9,260 1,607 17,692 4,925 3.06; 063 6o4 2.459 3,fL8 606 2,612 7,385 2.270 5.115 3.097 649 2,448 3.348 3.950 829 3.121 3.758 780 2,978 6,361 2.099 4,262 3.717 848 2,869 3.637 778 2,859 6,441 2,168 4,273 687 829 858 553 791 762 555 2,203 4,352 1,144,215 128,507 445,1195 165,157 61,012 42,506 167,422 76,925 114,912 12,047 8,506 33.351 19.711 3.364 27.492 rl,l35.725 128,443 436,025 169,313 1,314.276 148,996 512.519 165.969 76,907 114,018 12,896 8,355 32,4l2 19.436 2.992 27,634 193.498 81,804 105.48J 13.696 9.512 24,558 12,282 1.830 33.580 1,226, &o 144,773 468,025 171.788 63,712 43.949 186,878 82,153 93.120 13,595 9.415 18.215 14,290 750 31.077 71,369,469 rl77.000 529,945 192,824 67,324 738,063 204.512 84,124 90,331 n4,533 9,620 19,446 13.787 r500 29.309 .thous. of bbl. do... do... .do... 19.07© a , 278 3.569 3.610 18,040 17,269 9,352 3.387 21,884 25,144 9.608 4,900 20,945 22,910 7.642 4,029 22,488 24.172 »5.946 r2,852 thous. of gross. do... do... 8,283 7,737 8,602 7.375 6,963 8,735 9.133 11,132 6.743 S.673 10,437 4,865 10,612 8.967 6.123 thous* of dosen pairs. do... • ..do... 13.607 14,580 23.671 13.987 14,504 23.153 as 13.779 15.566 24,937 14.748 15.794 23.892 573.699 322 455.731 308 722,812 423 760,537 553 502 651.169 7635.544 108,815 97,087 Production....«o.o....... . . . . . . . . . do.., fas-patd withdrawale •.... do.. Stock®, end of month..... do.. Rectified d i s t i l l e d s p i r i t s , prod., t o t a l . . . thous .of proof gal Whisky.............. ......... do.. XJftSHSB ABD PB0D0C5S leather product!©at Calf and kip. thous. of skins Cattle hide. .thoue. of hides Goat and kid. thou*, of skins Sheep and lamb. do.. Shoes and ©Uppers, production, total thous. of pairs Shoes, sandals, and play shoes, esc. athletic, total..do.. Men 8 ®*..*... d©.„ Youths1 and b o y s 8 . . . . . . . . . . do.. Women* • • • • . •. do.. Misses 9 and children8 $............. •• do.. Infante* and babies •..«:........••••••-..0........... .do.. Slippers for hougewear. do. • Athletic. ........do.., Other footgear. , do.. Umm AHD MAHU7AGISUBBS Lumber (lational Lumber Manufacturers Association)! Production, total a i l . of bd. f t Hardwoods.......... do.. Softwoods..... o do.., Shipment 3s total do.. Hardwoods .. do.. Softwoods do.., Stocks, gross, end of month, total do... Hardwoods • do.. Softwoods. .... e o do.., PUXff, PiPER, ABD PHIHSIHG Wood pulp: Production, total, all grades short tons. Bleached sulphate. do.., Unbleached sulphate. . do... . Bleached sulphite do... Unbleached sulphite do.. < Soda do.., Groundwood do... Defibrated, exploded, etc. do. •. Stocks, end of month, total, all grades do... Bleached sulphate do.., Unbleached sulphate. do... Bleached sulphite. do... Unbleached sulphite do... Soda *: do... Groundwood. • do... 3S0HB, CLAY, AND GLASS PB0BUC3JS Portland cements Production Shipment e » Stocks, finished, end of month Stocks, clinker, end of month. Glass containers? Production. •• Shipments Stocks, end of month TEXTILE PBOJXJCSS Hosiery: Production. Shipments , Stocks, end of month. n|44o 1,874 2.956 2.677 39.677 32,25* ••.JOO 1.627 5,163 2,673 6,805 318 296 2,616 7.076 2.187 4,889 •SB %M 47.382 26,725 e 6,631 329 387 IBAJBPOBSAMQH BtyftPMSB* Motor vehicles, factory s a l e s , t o t a l Coaches, total .. Domestic Passenger cars, total Domestic. trucks, t o t a l . Domestic r/ for Borised. Digitized FRASER ..., samber. do... do... ...do... .do... .-.«,..do... do... 381,874 373.838 73.549 66,090 818,092 457 , 374 682,782 669.550 134.853 121.272 545 616,827 602,423 105,562 93.3*8,