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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 OF C O M M E R C E BUREAU OF FOREIGN AND D O M E S T I C AVAILABLE ONLY WITH SUBSCRIPTION TO SURVEY OF CURRENT SELECTED BUSINESS BUSINESS JANUARY «/F.F.KLY 14, 1949 INDICATORS ELECTRIC POWER PRODUCTION BY UTILITIES STEEL INGOT PRODUCTION (1935-39 • 100) 2501 COMMERCE {BILLIONS OF KILOWATT HOURS) DATA 1949 1948 y 2001 ^^-^ .... ^•SS^ jy O ^^-l947 150 100 1946 " \ .:.:•'£ \o- * XI ~""~V f "^N^^ "7 "•"" / \ ^1/ \\v »i.:;''Ef. \ A \/ • // </ -.\.-..j. 50 i 1 , v ; i , i i i . , 1 i i i 1 i i i i 1 • i , ! , i 1 1 , 1 , 1 1 M SALES OF R E T A I L (SEASONALLY bUU MONTHLY DATA STORES PERSONAL INCOME ADJUSTED, 1935 - 3 9 - 100) | 400 BILLIONS OF DOLLARS, SEASONALLY ADJUSTED, AT ANNUAL RATES 1 MONTHLY 1 300 . ^ DATA ,^''\/''^ —* NONDURABLE l l I I I I - m -~ -^^-j^fi^^i wTf^-^ x^s5v^J 200 '^-TOTAL • iOO TTTTTf T f T i / L ^ _ ^ l ^DURABLE 1 1 1.! 1 1 I 1 1 i I 1 1 ! 1 1 1 1 ! 1 1 '• 1947 WEEKLY 1 1 1 1 1 1 1 1 1 1 1 1948 1945 BUSINESS 1946 STATISTICS1 1948 19U9 ITEM Jan. 3 Commodity prices, wholesale: 164-5 jai commodities 2/ 1926»100.. farm products 2/ do.... 199.0 food 2/ do.... 179-2 all other 2/ do.... 146.7 28 commodities l l August 1939*100.. 1/3^9.1 Cotton, middling, 15/l6 M , 10 markets 4/ dol. per lb.. •359 Wheat, No. 2, Bard Winter (Kansas City) dol. per bu.. 2.95 Department store sales » 1935-39*100.. 20U Insured unemployment, total $J thous.. 1.569 State programs. .....do...., , Veterans1., programs......................... ....«•.•„•• • • ...... r.^v z$P ••••., 9^5 finance: "' ""''^TT'^'Z' 28,880 Currency in circulation 4/ a l l . of d o l . . 23,382 federal Besenre bank credit, total ....do.... 17.981 Member bank reserve balances do.... 1,499 Excess reserves, estimated do.. federal Beserre reporting member banks in leading c i t i e s : 22,692 Bank debits, total mil. of d o l . . 10.157 New Tork City „ do 48,685 Deposits, demand, adjusted do...'. Loans and investments, total d o . . . . 6/64,816 U. S. Government obligations d o . . . . '37.227 Commercial, industrial and agricultural loans d o . . . . 6/ih,730 58 failures, commercial .. number.. 1 3.17 Bond yields, domestic corporate (Moody s ) . •. percent.. 9 124.2 Stock prices, 4l6 stocks (Standard and Poor s)..1935-39*100.. Industrials, 3&5 s t o c k s . . . . . . .» do.... 131.1 Production: 2,220 Bituminous coal 4/ thous. of short tons.. 4,868 Slectric power, by u t i l i t i e s mil. of kv-hr.. 63.173 Motor vehicles (Wards) »•• ..number.. 5.291 Petroleum 4 / . . . . ...thous. of bbl..| 189.0 Steel Jj....... '•* 1935-39*100..) 682 freight carloadings, total * . . . . . . t h o u s . of cars.. Miscellaneous «...*......... do.... 320 Jan. 10 I65.5 198.0 182.9 147.2 350.7 •355 2.97 251 1,641 990 ._5»_ 28,628 22,320 X I:S 19.372 7.5^ 48,620 65,142 37.642 14,645 87 3.13 123.7 130.0 Dec. 11 Dec. IS 163.7 175-5 173.7 153.4 301.6 .322 2.32 5&4 1,493 163.0 174.0 172.6 153.1 296.3 .321 2.27 576 1.534 1,153 340. 163.8 177.6 174.1 152.8 296.0 .321 2.27 473 163.5 177.4 173.6 152.5 296.2 .323 2.27 205 161.3 175.5 168.1 152.6 294.8 .322 2.27 28,410 28,538 23.919 20.435 1,258 24,886 11.033 ! 24,2a 19.899 28,314 24,113 20,238 1.049 28,142 23.727 20.375 1,051 48,290 47,928 1,122 ... 3.29. 28,414 23.727 19.727 665 20,906 8,400 47.5«4 6/62,558 33.179 6/15.459 1J22 3-]L0 119.9 126.0 2,300 5.278 1.993 107,240 5.313 19L& 831 117.897 5,620 201.9 783 384 5.TO 379 Dec. 25 709 25,001 10,069 6/62,870 1 6/63,141 33.440 ? " 33.455 i/15.595 : 6/15,614 96 : 116 3.10. 3.08 119.4 j U9.2 125-5 1 125.4 1,886 ! 1.907 5.790 I 5.508 117,045 i 89,686 5.645! 5.641 201.9; 178.9 609 755! 368! 297 Jan. 1 22,434 9.268 47.794 6/62.751 " 32.987 6/15,561 128 3*07 120.1 126.4 1.735 5.470 79.377 5,611 196,5 5«5 Jan. 6 10,586 3.05 119.5 125.6 95.507 "202!o 294 1/ Data do not always cover calendar weeks. 2j Bevised series. See note in December 3, 1948 lesue. 3 / Thursday prices. 4/ Daily averages. 5/ for description see note in July 13, 1946 issue. 6/ Beginning July 1948 Individual loan items are reported gross, currently and for a year ago, instead of net as formerly; total loans are included on a net basle for a l l y»j&rA. jf v * fik ending January 15, 205.1.* 8/ Price for friday. MONTHLY BUSINESS S a r l i e r d a t a are a v a i l a b l e In monthly i s s u e s of t h e Airvey and the 19^7 Supplement STATISTICS 1948 19^7 Nor ember December September October 1 Hovember December GENERAL BUSINESS INDICATORS Pereonal income, s e a s o n a l l y a d j u s t e d , a t annual r a t e s : Total pereonal income b l l . of d o l . Wage and s a l a r y r e c e i p t s , t o t a l do... T o t a l employer d i s b u r s e m e n t s . . . do... Commodity-producing I n d u s t r i e s . . do... Distributive industries do... Service industries. do... Government... do... Less employee c o n t r i b u t i o n s f o r s o c i a l i n s u r a n c e , d o . . . Other labor income... do... Proprietors* and rental income.... do... Personal interest income and dividends do... Total transfer payments do... Total nonagricultural income.... do... Jara income and marketings! Indexes of cash receipts from marketings and CCC loans, unadjusted: all commodit ies -1935"39-100. Crops .do.,. livestock do... Indexes of volume of farm marketings, unadjusted: All commodities... ...do... Grope do... Livestock «id products do... 201.4 125.5 127.3 57.4 37.1 15.2 17.6 1.8 1-9 47.1 16.1 10.8 181.4 207.7 127.U 129.4 59.2 37.4 15.2 17.6 2>0 1-9 51-3 16.2 10*9" 184.2 214.9 134.7 137.0 62.0 491 588 419 *25 431 421 *71 168 181 159 215.6 rl35.0 rl37-3 62.0 r39.4 rl6.1 rl9.8 2.3 2.1 r50-5 17-7 rl0i3 rl9^.6 216.7 135-2 137.5 62. ^ 3^.0 16.3 20.0 2.3 2.1 51.1 18.0 10.3 193.1 U07 55* 3! 415 *97 604 417 144 I36 150 170 215 135 206 286 146 176 209 150 287 268 312 283 354 257 151 272 349 304 338 293 242 301 281 318 305 377 275 149 29U 367 320 -352 290 231 223 223 406 250 I85 150 282 262 408 302 253 277 227 226 192 418 251 174 176 270 323 373 289 260 271 224 2V4 181 412 246 157 1S6 283 313 351 284 272 I85.9 188.4 196.2 rl95.0 193.* 1.432 1,141 63O 287 136 25 199 291 8 19 1.320 1.097 610 284 13U 15 188 223 8 17 1,782 1.332 685 33* ^633 250 450 rl.707 rl,?65 650 r333 rll6 rl.552 rl.178 600 r330 rll5 22 226 r374 39.3 16.1 19,6 2.3 2.1 50.1 I7.5 10.5 192.3 COMMODITY PRICS3 Prices received by farmers, all farm products...1909-14*100. Crops do... food grain., do... i'eed g r a i n and hay ,,do... Tobacco do... Cotton....» do... Jrult ....... do... Truck crops do... O i l - b e a r i n g crops do... L i v e s t o c k and products do... Meat animals do... Dairy products do... P o u l t r y and eggs do... R e t a i l p r i c e s , U. 3 . Department of Commerce: a l l commodlties, index 1935~39-100. 3 X J 3*3 268 228 2 f 184 415 239 164 209 283 305 339 283 260 CONSTRUCTION AND RKAL SSTAT3 Nov c o n s t r u c t i o n , t o t a l m i l . of d o l . Private, total do... R e s i d e n t i a l (nonfarm) do... N o n r e s i d e n t i a l b u i l d i n g . e x c . f a r m and p u b . u t i l i t y . . . d o . . . Industrial do... farm c o n s t r u c t i o n do... P u b l i c u t l l i ty do... Public construction, t o t a l . do... Residential construction* .c do.». M i l i t a r y and naval do... Nonresidential building .do... Industrial. . do... Highway. do... A l l other . .... do... 5 ?9 243 442 4 12 106 2 180 1*0 3 11 rl08 1 rl26 rl26 119 95 I 81 13 102 2 190 140 10.672 2,776 7.896 12.641 3.087 9.55* U.O58 3.171 7.887 rll,544 r3,223 r8,321 11.013 3.051 7.962 340.6 366.1 332.3 322.8 3*9.7 314.0 355.255 129.206 226,048 385-9 383.* 386.7 328.8 361.2 318.2 415,686 148,113 267.573 350.6 408.2 331.8 340.3 396.6 322.0 336.487 119.706 216,782 r3*9.l *399«7 332.6 r337.9 r385-3 r322.5 353.270 13L302 221,968 3*9.1 392.7 33*-9 333.9 381.7 318.3 350.7*8 124,896 225.852 1.29* 60,216 58.595 7.985 50.609 1,621 1,280 59.590 57.947 &.962 50.985 1.6U3 1.366 62,212 60,312 8.723 5L590 1.899 1.391 61.775 60,13!* 8.627 51.506 1.642 1,414 61.724 59.893 7.961 51.932 1.831 i? 1.391* 1,080 550 312 114 13 205 311 3 10 106 1 . 80 112 DOMESTIC TRADX A l l r e t a i l store** Estimated s a l e s , t o t a l do... Durable goods s t o r e s do... Nondurable goods s t o r e s » do... Indexes of s a l e s * Unadjusted, combined index 1935-39*100. Durable goods s t o r e s . do... Nondurable goods s t o r e s . . . . . . . . . . . do... Adjusted, combined index do... Durable goods s t o r e s . , do... Nondurable goods s t o r e s do... H a i l - o r d e r and s t o r e s a l e s , t o t a l , 2 companies.thous.of d o l . Montgomery Ward A Co do... S e a r s , Roebuck and Co ., do... EMPLOYMENT CONDITIONS AND WAGES Labor fore© (Bureau of the Census): Armed forces , C i v i l i a n labor f o r c e Ssiploywent Agricultural.... Nonagri m i l t u r a l . Unemployment...... vj K«visad. 1/ Less than $ 5 0 0 , 0 0 0 . thousands. ...do... ...do... ...do... ...do... ...do... i.*53 61.375 59.43* 7.375 52.059 1.9*1 MONTHLY BUSINESS 19U7 Earlier data are available In monthly Issues of the Surrey and the 1947 Supplement November Federal Reserve banks, condition, end of month: Assets, total mil. of dol. Reserve bank credit outstanding, total do... United States securities.... do... Oold certificate reserves .....do... Liabilitles, total .;. .do... Deposits, total .y. .do... Member bank reserve balances ......do... Excess reserves (estimated) do... federal Reserve notes in circulation... do... Reserve ratio percent. federal Government finance! Debt, gross, end of month mil. of dol. Interest bearing! Public issues.. do... Special issues. do... Noninterest bearing do... Obligations guaranteed by U. S., amount outstanding..do... Oold, monetary stock. United States do... Currency in circulation do... Bonds:' .,._:. .;,., Price" •": I n d u s t r i a l , u t i l i t y , a n d railroad (stan.and Poor's Corp.): High grade ( 1 2 bonds). 1 / . . . . . d o l . per $100 bond. Medium grade, composite (14 bonds) \J do... I n d u s t r i a l (5 bonds) 1 / .do... P u b l i c u t i l i t y ( 4 bonds) do.... Railroad ( 5 bonds) 1/ do... Domestic municipals (15 bonds) do... U. S. Treasury bonds ( t a x a b l e ) do... S a l e s ( S e c u r i t i e s and Exchange Commission): Total on a l l r e g i s t e r e d exchanges: Market v a l u e «° t h o u s . of d o l . face value ,.« do... On Vev York Stock Exchange! Market v a l u e . do... face value do... Stocks*. Prices' Dow-Jones & Co. (65 s t o c k s ) . . . d o l . per share. I n d u s t r i a l ( 3 0 stocks) do... P u b l i c u t i l i t y (15 s t o c k s ) do... Railroad (20 stocks) do... Standard and P o o r ' s Corporation: Combined index ( 4 l 6 s t o c k s ) 1935-39»100. I n d u s t r i a l (365 stocks) do... P u b l i c u t i l i t y (31 s t o c k s ) do... Railroad (20 stocks) do... S a l e s ( S e c u r i t i e s and Exchange Commission): Total on a l l r e g i s t e r e d exchangee: Market v a l u e m i l . of d o l . Shares s o l d . . thousands. On Mew Tork Stock Exchanges Market v a l u e . . . . . m i l . of d o l . Shares s o l d thousands. 3 S T A T I S T I C S — Continued 19** December September 47.205 22,975 22,209 21.363 ••7.205 19.U31 16.97-* 829 2U,651 1*8.5 47.712 23.181 22.559 21.497 47.712 19.731 17.899 1.499 24,820 48.3 258,212 226.07U 29.517 2,621 39 22,6l4 28,766 256,900 225.250 28,955 2,695 51 22.754 28,868 252,637 219.297 31,2a 2,170 50 r97-6 82. 126. 101.59 98.2 92.9 97-5 94.6 86.8 124.0 100.70 63,949 S7.-+97 145,181 186,213 59.511 81,663 137.971 178.255 99 9^ 100 99 84 129 92. 49.632 24,071 23,413 October Kovember | Dec saber 49,514 23.875 23.042 22,726 49,514 22,420 19.736 742 24,062 48.9 49,803 23,881 22,889 49.8O3 22,427 19.894 rS09 24,172 49.I 50.043 24,097 23.333 22,966 50,043 22,791 20,479 pl.136 24,l6l 48.9 252,460 219,077 31,223 2.161 52 24,004 28,176 252.506 218,992 31,400 2,115 57 r24,i66 r28.33i 252,800 218,86? 31.714 2,220 55 p2U,24l p28,224 97.8 91.9 124.5 IOO.69 97.9 91.1 94.5 93-6 85.1 124.9 100.79 98.9 90.9 94.7 93.6 94.7 127.8 100.89 50,449 67.313 r57.7H r78,581 ; 63.049 88,2^'i 47,699 . 63,847 j S-54,179 ! r 74,345 , 59.386 : 83,409 ; 22,603 49.632 22,494 19.986 1,038 24,024 49.6 23.872 28,118 23.209 94 !4 85.8 63.98 181.42 ?4.10 •+7.79 63.66 ' 179.18 33.04 49.46 67.69 i 180.33 ! 34.74 60.23 69.00 I I85.19 ! 35.20; 60.62 : 64.90 ; 176.60 '• 55-00 j 33-09 53-27 123.6 130.3 125-7 131.7 100.1 122.4 129.2 94.0 103.9 V 120.4 127»S *3uO 97-4 120.O 120.U I 126.4 ! 94.2 : 108.8 119.4 125o 92.9 IO5.8 812 37.277 1,178 53,160 746 32,322 r?91 r40,593 1.137 i 53.415 i 681 26.326 i 1,003 38,688 626 22,649 r747 ; r29,081 i 970 ! 39,345 j 1,185 j 1.173 I 1,172 1,164 603 562 926 916 558 588 rl,020 rl,010 597 602 thousands. do... do... do... do... do... do... do... do... ,483 7^6 59 173 193 71 176 U65. ,600 ;,164 714 60 168 177 50 66 432 .495 3.502 694 58 197 195 58 302 430 1.578 4,574 193*y-3f,»10O. .'.do... do... do... do... do... .do. . a do... do... 150 160 195 1*7 142 139 155 201 141 130 92 60 71 147 97-2 9 7 j i : : 3304 : PORKIGN TRADK 64.24 176.31 i Exports, including reexports, total... ; Exports of U. 3. merchandise .'.:'.V General imports, total.... Imports for consumption..... mil. of dol. ..;:..do... ....do... do... Sia..:.. 812 j 550 j 557 : TRANSPORTATION f r e i g h t carload!rigs* Total cars (A.A.R.) 2/ Coal Coke » forest products. Grains and grain products Livestock. Ore Merchandise, l.c.l Miscellaneous. Indexes (federal Reserve)' Total, unadjusted Coal.. Coke forest p r o d u c t s . . . . . , Grains and g r a i n products Livestock. OreMerchandise, l . c . l Miscellaneous., . ~/*?^l8Sd* 2,/ Prellminar y- 1/ 3e « not « on l 3 ? 163 77 1«V? corresponding data i n December 1)MS Survey. 150 149 190 164 142 i 113 273 70 • is6 : 264 99 346 557 2,100 j I 151 'j 147 i 190 j 158 ! 150 ! 143 ! 240 j 71 ! 159 ' .295 ' 642 : 60 ! 169: 2071 62 ! 222 i 411 j .523 141 13* 198 141 152 114 196 6« 1U9 2/ Data f o r October 1943 ar« for 5 w**k«; 2,951 621 5 ? 156 193 47 78 369 1,428 120 131 201 123 138 82 6? 60 139 i^sr + MONTHLY BUSINESS S T A T I S T I C S — Continued 1948 19*7 S a r l i e r d a t a are a v a i l a b l e In monthly i s s u e s of t h e Survey and the 1947 Supplement November Sec ember September October November THANSPOBTAIION - Continued Preight car loading* - Continued Indexes (federal Reserve) - Continued •1935-39-100. Total, adjusted... do... Coal do... Coke do... forest products •> Grains and g r a i n pr^f-:ct.« do.. Livestock Ar , . Ore ••.>• Merchandise, l . c . l <»•>.. Miscellaneous do. > P r e i g h t - c a r surplus and s h o r t a g e , d a i l y average* Car s u r p l u s . . numbei Box c a r e . . . . . " . . . . . . . . • .do.. Coal car* » do.. Car shortage do.. Sox c a r t . <• •• do.. Coal c a r * . do.. 147 160 195 150 14 5 105163 75 151 149 155 191 158 138 96 192 156 2.^05 75 0 27,865 10,631 10,129 5,886 712 143 12,146 5.643 6,047 2.917 726 2,191 3.16* 779 2.385 •5,BOX 2.135 3,666 2.763 650 2,113 2,844 641 2,203 5.557 2,018 149 192 152 127 85 rl82 66 144 *.2S5 3*5 140 1*7 194 149 150 93 178 68 1*5 137 •138 198 144 155 90 178 66 144 I r * 16,992 6,262 9.891 1.792 7* 253 20,885 10,804 8,908 161 653 H.339 7.25* 3.*69 3.539 3,^40 791 2.549 3.07* 678 2.396 6,866 2,274 *.592 3.369 837 2.532 3.085 736 2.3*9 7.200 2.37* 4,826 2,929 707 2,222 2,654 682 1.972 7.*3l 2,400 5.031 35.SOU 206,510 72,111 39.969 39,940 202,408 77.757 44,042 31.059 164,002 77.824 43,881 38.654 158.351 81,761 44,305 30,312 146,422 77.23* 42,241 365.579 350.470 351.152 373.25* *33.919 280,084 382,400 281,573 319.300 255.080 1.776,747 898,160 767.24? ' 111,340 1,742,888 893.79* 739,986 109,10s 1.812.34J 916.31* 776.841 119,188 rl,,925.292 T96S.197 ;r840,833 :rll6,262 1.857.121 755.400 425,100 758,400 765,100 457,100 747,500 796,200 375.900 774,000 831,100 365.900 832,100 4.629 53.692 4,879 55.852 5.007 51,824 4.961 5L350 *.*73 I LIMBER AND MANUPACTirRES Lunb@? ( n a t i o n a l Lumber Manufacturers A s s o c i a t i o n ) * Production, t o t a l a i l . of bd. f t . . Har d vood s do Softwoods. do.... Shipment s, t o t a l * dc.... Hardwoods. do.... Softwoods • do S t o c k s , g r e a s , ®n& of month., t o t a l . -i do.... Hardwoods..... do.... Sof twoods do.... MURALS AND MASUJACTUBBS C a s t i n g s , m a l l e a b l e irons Orders, new, f o r s a l e Orders, u n f i l l e d , f o r s a l e Shipments, t o t a l To o u t s i d e t r a d e s E l e c t r i c a l a p p l i a n c e s , d o m e s t i c , shipments* Washers • facuua c l e a n e r s , f l o o r type short tons.. do.... do.... do...- number.. j do.... j PAPKH AND PRINTING J A l l paper and paperboard m i l l s (Bureau of the Census): Paper and paperboard production, t o t a l do....I Paper. do.... j Paperboard . do.... , B u i l d i n g board do. . . . ! Paperboard* Orders, new short t o n s . . ; Orders, u n f i l l e d , end of month do....! Production do.... i ! 922,J96 826,654 107,671 I 809, JOO I 338.700 822,500 P5TBOLS0M AND COAL PRODUCTS Anthracite, production Bituminous o s a l , production thous. of short t o n s . . ! do.. September October July August 4,680 48,485 September TEXTILE PBODUCTS Wool* 1 / Consumption ( s c o u r e d b a s i s ) * Apparel c l a s s thous. Carpet c l a s s Machinery a c t i v i t y (weekly average)* Looms* Woolen and worsteds P i l e and Jacquard thous. of a c t i v e Broad Harrow Carpet and rug* Broad Harrow Spinning s p i n d l e s ? Woolen Worsted Worsted combs Wool manufactures* Wool yarn, production, t o t a l thous. Knitting... Weaving. Carpet and other vj Eevised. \j Data for of l b . . do.... 37.988 13.708 49,210 17.850 3L744 11,284 38,824 16,964 r45,210 r20,360 hours. • do do.... 70 2,223 *7 68 2,282 *5 62 1.893 30 82 2.323 39 79 r2,185 r36 do.... do.... 124 112 134 129 114 90 164 130 • 164 124 ..do.... do.... do..,. 93.585 118,720 198 93.931 122,410 218 73.791 87,804 179 9*.338 109,204 222 r88,432 rl04,31l 210 of l b . . do.... do.... do 61.796 7.052 41,244 13,500 76,760 9.235 49,580 17.9*5 48,188 5,408 31.912 10,868 62,112 6,896 38,852 16,364 r7*.*75 rS.055 r46,385 r20,035 October 1947 and September 1948 are f o r 5 weeks, other months, 4 weeks.