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SURVEY OF CURRENT BUSINESS WEEKLY SUPPLEMENT UNITED STATES DEPARTMENT OF COMMERCE BUREAU OF FOREIGN AND DOMESTIC COMMERCE WASHINGTON, D. C., JANUARY 28, 1943 SELECTED BUSINESS INDICATORS ) l — MEMBER BANK RESERVE B A L A N C E S E L E C T R I C POWER PRODUCTION S T E E L INGOT PRODUCTION (BILLIONS OF DOLLARS) (BILLIONS OF KILOWATT HOURS) • - 1943 I - 1941 \ Lu11f i T t l t i i f r T i l i r i T . l i i ' 1 M M11J 111 11 11 11 1111 1 1 11 1 INDUSTRIAL W H O L E S A L E PRICES OF 2 8 BASIC COMMODITIES PRODUCTION (SEASONALLY ADJUSTED, 1935-39*100) 350 225 monthyl data 300 (AUGUST 1939*100) W E E K L Y AS OF FR O tAY 200 UNCONTROLLT 250 Durable Manufactures rf ^^ 200 *^ 175 Total Indust- 150 150 125 SO rl 1 1 1 . 1 1 tT11t 1 1 1 1 1 1i ) 1f i 1i 11 i ti t i .i , 1 . . 1- . 1 . .100 " CONTROLLED*^ Nondurable Manufactures too 1940 t l l l l F i l l l_i_ M 1 1 1 1 1 1 1 1 11 T 1 M 1 1 1 1 MI I I 1940 WEEKLY BUSINESS STATISTICS1 1942 1941 1943 1942 1943 Jan. 23 Jan. 16 Jan. 9 Jan.24 Jan.17 Commodity prices, wholesale: All commodities .. 1926=100 Farm products do— Food — do— All other. .. do.... 28 basic commodities©--.August 1939=100Cotton, mid, 10 m k t s . t - d o l . per l b . . " Wheat, No. 2,hd. win. ( K . C . ) - . d o l . p e r b u Department store sales 1935-39=100. Finance: Bank debits, member banks in 101 cities: J Total mil, of dol.. N e w York City do— Currency in circulation X do— Federal Reserve bank credit, t o t a l . d o — Member bank reserve balances do Excess reserves, estimated.. do >101.6 >101.4 116. " 116.1 104.8 104.4 >96.3 P96.2 173.8 173.5 173.6 .203 .205 .204 1.37 1.36 1.37 132 138 95.5 100.3 93.6 94.5 164.2 ,193 1.26 119 1 ) 1 1_!_L_1 I . 95.6 100.8 94.1 94.4 164.0 .188 1.26 131 10,778 10,158 12,172 9,572 8,749 4,364 4,150 5,031 3,816 3,550 15,370 15,332 15,385 11,083 11,074 6,195 6,274 6,378 2,383 2,390 13,156 13,279 13,464 13,145 12,992 1,998 2,149 2,326 3,584 3,561 1942 Jan. 23 Jan. 16 Jan. 9 Jan. 24 Jan. 17 Finance—Continued. Federal Reserve reporting member banks: Deposits, demand, adjusted, .mil. of dol.. 29,472 28,964 28,367 24,426 41,361 41,239 41,344 30,211 30,233 Loans and investments, total do 28,347 28,142 28,025 15,339 15,259 U. 8. Govt, obligationsd* do Commercial, industrial, and agricul6,721 6,728 tural loans mil. of dol.. 5,956 5,975 114 96 241 Failures, commercial number.. 95 260 3.27 3.28 3.34 3.31 3.34 Bond yields (Moody's)t percent.. 79.6 79.0 71.6 73.3 Stock prices (Stan. & Poor) A 1935-39=100.. 78.5 Production: 1,917 1,850 1,877 1,916 Bituminous coalj. thous. of short tons.. 3,952 3,953 3,440 3,450 Electric power mil. of kw-hr.. 4,311 4,046 3,850 Petroleum^ thous. of bbl_. Steel® 1935-39=100.. 191.2 190.3 185.9 180.8 181.0 818 755 716 811 Freight carloadings, total ..thous. of cars.. 363 343 370 359 Miscellaneous..--. — d o — 3,821 • Data do not cover calendar weeks in all cases. * Preliminary. ©Thursday prices. JT^ail^ average. <8>Index for week ended January 30,188.9. ^Debits to demand deposit accounts, except interbank and U . S. Government accounts," in lorclties. cPDirect and guaranteed. * ~A402 stocks. MONTHLY BUSINESS STATISTICS 1942 Earlier data are available in monthly issues of the Survey and the 1942 Supplement 1941 Decem- December ber 1942 October November BUSINESS INDEXES Industrial production (Federal Reserve): Unadjusted, combined index 1935-39^100, Manufactures do... Durable manufactures do— Steel*. •„--doLumber and products do... Furniture do... Lumber do._. MachineryJ do... Nonferrous metals do... Stone, clay, and glass products do... Transportation equipment do... Nondurable manufactures do... Chemicals do... Leather and products do... Shoes ...do... Manufactured food products .do— Meat packing do... Paper and products.. do Paper and pulp. do— Petroleum and coal products do..,, Coke... do..., Petroleum refining _ _... do.... Printing and publishing do.,.. f Revised. * Preliminary. « Not available. * N e w series. See note for corresponding item in 506578—43 p 192 p 204 P 280 221 * 113 P 137 p 101 *336 » a201 () P 542 p 143 p 194 P 113 p 108 p 148 p a183 () C) <•) p 166 p 117 104 171 211 205 m 155 113 243 192 147 278 138 153 116 110 130 165 146 154 138 '161 134 131 r v 194 20* 275 229 135 142 131 314 190 163 502 147 184 117 114 157 146 139 138 123 166 117 120 the January 1493 SURVEY. r 194 '206 279 224 T 125 * 140 r 118 '327 r 197 157 ••526 * 146 ••194 ••115 111 r 150 r 166 134 136 123 166 117 T 120 r Earlier data are available in monthly issues cf the Survey and the 1942 Supplement 1942 1941 1942 Decem- Decem- Octo- November ber ber ber B U S I N E S S INDEXES—Continued Industrial production—Continued. Unadjusted, combined index—Continued. Manufactures—Continued. Nondurable manufactures—Continued. 154 p 154 Textiles and products 1935-39=100.. 163 155 Cotton consumption, do— 179 P 178 Rayon deliveries do 178 Wool textile production :_.do— <•) p 121 126 Mineralst— --do— >126 131 Fuelst... .....do— P 105 98 Anthracite .do P 143 144 Bituminous coalt — do— 129 P 122 Crude petroleum do— *87 98 Metals ..do— P 196 168 Adjusted, combined index do— 174 P 208 Manufactures do— 214 P 283 Durable manufactures.. do 205 221 Steel*... ...do.... 138 » 123 Lumber and products. do— p 132 149 Furniture j. do— 132 p 119 Lumber.. do— 243 P 336 Machinery*.. do— 193 p 201 Nonferrous metals ..do— 167 Stone, clay, and glass products d o — .(-) p 542 278 Transportation equipment.. do t See note for corresponding item in the January 1943 SURVEY, 156 172 174 157 135 127 117 145 121 180 189 201 272 229 125 131 123 314 190 147 502 ' 158 171 177 161 132 130 124 ' 164 ••121 r 147 T 194 ' 206 r279 224 r 126 r 134 * 122 ••327 ••197 152 '526 2 MONTHLY BUSINESS STATISTICS—Continued 1942 Earlier data are available in monthly issues of the Survey and the 1942 Supplement October November p 147 p 193 f 125 v 129 P 156 * 156 (a) (a) (a) *166 (a) P116 p154 163 v 178 (a) p 126 p 124 » 99 p 129 p 124 9 141 141 152 128 131 137 142 155 162 139 f 161 135 130 154 155 179 178 132 129 92 '130 132 152 r 143 180 116 112 146 145 134 137 121 166 115 116 156 172 174 157 126 123 110 130 122 142 COMMODITY PRICES Wholesale prices (U. S. Department of Labor): Combined index (889 quotations).. ..1926=100.. Economic classes: - Manufactured products do Raw materials... do Semimanufactured articles .- • do Farm products do—_ Grains... do.... do.... Livestock and poultry Commodities other than farm products 1926=100.. Foods do Cereal products do.... Dairy products do.... do.... Fruits and vegetables do.... Meats Commodities other than farm products and foods 1926=100do,... Building materials.— do.... Brick and tile do.... Cement— do.... Lumber—.. do.... Paint and paint materials. do Chemicals and allied products. Chemicals.. do.... Drugs and pharmaceuticals-. do Fertilizer materials do.... Oils and fats do.... Fuels and lighting materials do.... Petroleum products do.... Hides and leather products do.... Hides and skins do.... Leather do.... do.... Shoes. House-furnishing goods do.... Furnishings do .do.... Furniture do.... Metals and metal products do.... Iron and steel d o Metals, nonferrous Plumbing and heating equipment.-do do.... Textile products do Clothing.— - ~ do;... Cotton g o o d s . . . . do.... Hosiery and underwear do.... Rayon do.... Woolen and worsted goods... Miscellaneous do.... Automobile tires and tubes.. do.... Paper and pulp do Wholesale prices of individual commodities: 1 Coal: Anthracite, chest, comp—dol. per short t o n . . Bituminous, mine run. comp do Bituminous, prepared sizes, comp do Cotton, 10 mkt. avg dol. per lb_. Milk, fluid, dealers'stand. gr..dol. per 100 l b . . Flaxseed, No. 1 (Minneapolis) «dol. per bu__ Grains and grain products: Barley: No. 2, malting (Minneapolis).. do.... ^ N o . 3, straight (Minneapolis),. do.... No. 3 yellow (Chicago).. do.... do.... No. 3 white (Chicago) Weighted avg., 5 mkts., all grades...do Oats, No. 3 white (Chicago) do.... do.... Rye, No. 2 (Mpls) Wheat: No. 1 Dark Nr. Spring (Mpls). do N o . 2, Red Winter (St. Louis). do.... N o . 2, Hard Winter (K. C . ) . _ . do.,.. Weighted avg., 6 markets, all grades.do Wheat flour: Standard patents (Mpls.) .dol. per bbl._ dol. per l b . . Linseed oil (N. Y.) Earlier data are available in monthly issues of the Survey and the 1943 Supplement Decern' December ber Octo- November ber C O M M O D I T Y PRICES—Continued .BUSINESS INDEXES—Continued Industrial production—Continued. A d j usted—C ontinued. Manufactures—Continued. N ondurable manufactures 1935-39=100.. do.... Chemicals do.... Leather and products do.... Shoes. Manufactured food products.... do.... do.... Meat packing, do.... Paper and products do.... Paper and p u l p . . . Petroleum and coal products do.... do Coke.. Petroleum refining do do.... Printing and publishing do.... Textiles and products Cotton consumption do.... do Rayon deliveries do Wool-textile production..., do Minerals , do.... Fuels do.... Anthracite do._„ Bituminous coal do.... Crude petroleum do Metals 1942 1942 1942 1941 Decem- December ber 9101.0 93.6 100.0 P99.6 106.7 92.5 113.8 . 100.7 123.9 94.6 92.3 90.1 94.7 91.0 97.4 99.4 103.0 92.7 109.0 91.5 123.4 '98.1 104.3 89.3 111.8 104.3 113.6 93.3 90.5 89.3 95.5 73.8 95.3 97.9 103.4 89.3 109.2 98.2 115.5 110.0 98.7 94.2 133.3 100.3 99.5 96.1 165.4 79.0 101.5 79.2 60.7 117.8 116.0 101.3 126.4 102.5 107.3 97.4 P 103.8 97.2 86.0 90.4 97.2 107.0 112.4 70.5 30.3 112.1 90.5 73.0 99.0 93.7 107.8 96.7 93.4 129.4 96.5 91.3 88.6 123.0 77.8 101.9 78.4 59.8 114.8 115.9 101.3 120.7 101.1 105.6 96.6 103.3 97.0 84.8 89.1 91.8 98.4 107.5 67.0 30.3 102.7 87.6 67.4 102.5 95.5 110.4 98.7 94.2 133.3 101.0 96.2 96.2 128.8 78.3 101.5 79.0 60.6 117.8 116.0 101.3 126.4 102.5 107.3 97.4 103.8 97.2 86.0 94.1 97.1 ,107.0 112.4 70.5 30.3 111.7 88.6 73.0 98.8 10.380 4.858 5.177 .3967 2.95 2.56 10.288 4.704 4.925 .1726 2.70 2.00 10,340 4.805 5.097 .1889 2.85 2.46 .95 .74 .82 .68 .88 .61 .89 1.08 .85 .54 .70 .76 .83 .72 .53 .68 .77 1.04 ,-77 .47 .59 1.32 1.48 1.31 1.28 1.23 1.27 1.20 1.15 1.19 1.38 1.21 1.15 6.18 .129 6.30 .108 6.01 .131 ' 146 192 125 129 v 152 p 147 135 137 122 166 116 r 118 ' 158 171 177 161 'r 129 127 'T 121 135 ' 124 f 138 T Wholesale prices, etc.—Continued. Livestock: Beef steers (Chicago).dol, per 1001b.. Steers, stocker and feeder (Kans. City).do Hogs, avg., all grades (Chicago) do Lambs: Average (Chicago). do Feeder, good and choice (Omaha) do— Lumber, ponderosa pine, 1 x 8 , No. 3 common dol. per M. bd. ft-Meats: Pork, fresh, loins, 8-10 lb., average (Chicago) dol. per lb . Potatoes, white (N. Y.) dol. per 1001b.. Poultry, live <4fowls (Chicago) __dol. per lb.. Rosin, gum, H" (Sav.) bulk dol. per cwt.. E M P L O Y M E N T A N D WAGES Average weekly hours per worker in factories: Natl. Ind. Con. Bd. (25 industries) hours.. U. S. Dept. of Labor, all manufacturing...do Durable goods* do Nondurable goods*. do Wages: Factory average weekly earnings: Natl. Ind. Con. Bd. (25 industries). ..dollars.. TJ. S.Dept. of Labor, all manufacturing§.do Durable goods! ...do Nondurable goods§ ...do * 100.3 Factory average hourly earnings: Natl. Ind. Con. Bd. (25 industries) do P99.4 IT. S.Dept. of Labor, all manufacturing§_do 103.9 Durable goods§. do 92.6 Nondurable goods§ do 110.5 FINANCE 92.8 121.3 Security markets: Bonds: P97.9 Prices: 103.5 Average price of all listed bonds (N. Y. 89.5 S. E.)__ dollarsill.? Domestic.. do 102.0 Foreign do 112.0 Value, issues listed on N. Y. S. E.: Face value, all Issues mil. of dol.. *95.8 Domestic do 110.1 Foreign do 98.6 Market value, all issues J do 94.2 Domestic.. ... do 133.1 Foreign do 100.7 Stocks: 99.5 Prices: 96.2 Average price of all listed shares (N. Y. 165.4 S. E.) Dec. 31,1924==100_. 78.6 Shares listed. N . Y. S. E.: Market value, all listed shares-.mil. of dol.. 101.5 79.1 Number of shares listed millions.. 60.7 PETROLEUM AND PRODUCTS 117.8 116.0 Crude petroleum: Consumption (runs to stills) thous. of bbl.. 101.3 Production __. do 126.4 Refinery operations. . . . p e t , of capacity.. 102.5 Stocks, end of month: 107.3 Refinable in U. S thous. of bbl-— 97.4 At refineries do P 103.8 At tank farms and in pipe lines do 97.2 On leases do 86.0 Heavy in California do 93.2 Wells completed number.. 97.1 107.0 Refined petroleum products: Gas and fuel oils: 112.4 Production: 70.5 Gas, oil and distillate fuel oil 30.3 thous. of bbl.. 111.7 Residual fuel oil do.... 90.1 Stocks, end of month: 73.0 Gas, oil and distillato fuel oil... do 98.8 Residual fuel oil do Motor fuel: Production, total _ do— 10,340 4.815 Benzol do— Straight run gasoline do— 5.131 Cracked gasoline do .1927 Natural gasoline do— 2.93 Natural gasoline blended do— 2.43 Stocks, gasoline, end of month: Finished gasoline, total. do— .90 At refineries do..'.. Unfinished gasoline —do— .65 Natural gasoline —do— Kerosene: .81 Production.. —do 1.07 .79 Stocks, refinery, end of month —do— .50 Lubricants: Production. -do— .59 Stocks, refinery, end of month —do— 1.20 TEXTILE PRODUCTS 1.32 1.23 Cotton spindle activity: Active spindles thousands.. 1.17 Active spindle hours, total mil. of hours.. Average per spindle in place hours.. C. 09 Operations - .percent of capacity.. .127 14.85 12.24 14.01 12.57 10.46 10.65 15.21 11.83 14.98 15.39 13.12 12.06 11.25 14.30 31.83 30.42 32.01 .284 2.275 .234 3.43 .199 2.330 .191 2.89 .310 1.950 .210 3.50 <*> C) <•> 41.6 41.2 42.8 39.4 43.6 43.6 45.7 40.6 12.20 42.10 (a) <•> 8 45.31 30.66 r .787 .871 .695 .958 . 887 .757 96.70 98.04 66.11 94.50 96.69 56.27 98.08 63.16 72,993 69,934 3,059 70,584 68,562 58,237 55,080 3,157 55,034 53,257 1,777 67,207 64,139 3,068 64,844 62.906 1,938 2,022 52.6 48.7 51.1 38,812 1,471 35,786 1,463 37,738 1,471 8 124,985 116,381 128,293 120,311 82 246,884 237,361 51,319 43,552 183,992 181,203 11,573 12,606 10,179 10,868 817 1,458 8 i <•) (a) 8 22,887 10,734 450 127.9 17,142 31,127 18,858 31,239 49,926 83,195 49,701 68,873 63,573 323 24,913 32,255 6,082 4,622 51,495 0 19,997 24,905 7,256 5,455 86,413 56,325 7,685 4,275 67,669 46,15S 8,953 5,424 6,682 5,907 8,599 3,554 8,127 3,057 9,421 23,062 10,665 441 125.4 23,012 11,429 478 136.9 ' Revised. ° Data for November are the latest available. * Preliminary. 1 Not available. * N e w series See note for corresponding item in the January 1943 Survey. § See note for corresponding item in the January 1943 Survey. FRASER f Of the wholesale price series for individual commodities published regularly in the Survey only those which showed changes from November are included here. Digitized for 0 . S. GOVERNMENT PRINTING O F F I C E : 1943
@FedFRASER