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SURVEY OF CURRENT BUSINESS WEEKLY SUPPLEMENT UNITED STATES DEPARTMENT OF COMMERCE BUREAU OF FOREIGN AND DOMESTIC COMMERCE WASHINGTON, D. C, JULY 13, 1939 SUMMARY OF BUSINESS TRENDS B USINESS volumes in the first week of July reflected the observance of the July 4 holiday and as usual were below the totals for the preceding period. Retail trade as well as industrial activity declined for the week but, after allowance for the holiday, recent gains have generally been held. Steel ingot production declined to 39 percent of capacity as there was an unusually wide observance of the holiday period in this industry, but output subsequently recovered to 50 percent of capacity for the current week. Automobile production fell sharply Jast week as the plants still assembling 1939 models worked on a 3-day schedule. The improved trend in industrial commitments has been extended into July and purchasing policies are somewhat less cautious than those which prevailed during the spring. Exceptionally active buying of copper by both foreign and domestic interests has appeared. Reports from the textile industry revealed a marked improvement in the statistical position last month. A special survey by the Cotton Textile Institute indicated that aggregate new orders for cotton goods in June were almost three-fifths larger than production and that unfilled orders exceeded stocks at the month-end. Final reports for the rayon industry show a sharp rise in June deliveries to consuming establishments and substantial reductions in stocks held by the rayon producers. Retail trade in June was well sustained, with many lines resisting the seasonal slackening, usual at this period of the year. Sales of new passenger cars held around the May rate and were more than half again as large as in June 1938. Department store trade receded less than seasonally, and the Federal Reserve adjusted index was up 2 points to 87 (1923-25—100); sales were 5 percent larger than a year ago. Variety store sales recorded sizable gains over 1938 and mail-order sales continued to show impressive advances from the year earlier volumes. Business volumes rose sharply in the latter half of 1938, and comparisons with a year ago will reflect this movement from now until the end of the year. July results will be much better than last year, though considerably lower than in the summer of 1937, prior to the sharp drop in business which occurred in the late summer. Electric power production and crude oil runs-tostills are the only weekly series plotted below which show higher operations than in 1937. Construction contracts are, however, about on a par with 1937. Prices of industrial stocks are somewhat lower than in midsummer of last year and are much below the 1937 quotations. SELECTED BUSINESS INDICATORS (PERCENT OF CAPACITY) BITUMINOUS COAL (MILLIONS Of I N D E X ' DEC. 3 1 , l ? 3 l - (BILLIONS OF KILOWATT HOURS) PRODUCTION SHORT COMMODITY PRICES ELECTRIC POWER PRODUCTION STEEL INGOT PRODUCTION PRICES OF 3 5 0 INDUSTRIAL STOCKS CONSTRUCTION CONTRACTS - f. W. DODGE TONS) 'Op_)_ (INDEX, (DAILY AVERAGE AWARDS - MILLIONS OF DOLLARS) 1926= 100) *U£<W5B*Y CLOU • v 1, AUTOMOBILE PRODUCTION (THOUSANDS OT VEHICLES) MISCELLANEOUS CAR (MILLIONS OF BAR R EXS - PAILT AVERAGE) (THOUSANDS LOADINGS ,/v 3i4 350 300 52 250 3.0 200 Z8 f50 2.6 100 160916—39 V 11938-^ . . , f - 1 • 1 I . 1 i i • • COMMERCIAL FAILURES (NUMBER) OF C A R S ) 400 56 I (PERCENT) (THOUSANDS OF CARS) CRUDE OIL RUNS-TO- STILLS 3.8 , YIELDS OF 120 CORPORATE! BONDS FREIGHT CAR LOADINGS WEEKLY BUSINESS INDICATORS • [Weekly average. 1923-25=100] Business activity;! New York Times§0" - w Barron'scf " *_..Business Week 1939 1937 1933 1939 ITEM ITEM July July June June June July July July July 3 10 2 9 24 17 10 8 Commodity prices, wholesale: Dept. of Labor, 1926=100: 75 5 75.5 Combined index (813) 62 9 62 7 Farm products (67) 67.4 67,4 Food (122) __ 80.5 80.6 All other (624) _ Fisher's index, 1026=100: 79.2 78.8 78.9 Combined index (120) 71.0 71.0 71.0 Copper, electrolytic? 36.4 35.7 36.8 Cotton, middling, spot 51.5 Construction contractst 69.4 67.1 Distribution* Carloadings Employment: Detroit, factory,.. 86.7 Finance* 39.8 57.2 64.9 FaHurAK, cnTnmGro.ini Bond vieldsJ 64 3 64 3 64 3 98.4 97.4 100.1 Stock prices? 78 3 69.4 73.6 81.4 75.4 62.0 67 1 80 6 75.6 62.7 67.3 80 ft 7« 9 71 0 36.4 79.3 81.2 SO 9 92.9 92.5 71.0 67.4 63 8 100.0 100.0 36.8 33.8 33.1 48.2 46.0 63.6 66 5 89.3 66.2 52.3 61 4 "70.8 83.7 52 1 64 1 99.8 57.5 47.4 62.9 28.5 40.3 64 3 73 5 75 0 67 4 68 5 101.5 99.5 97.9 132.5 126.6 77 68 72 81 P 5 7 5 87.7 90.5 8fi 8 86 1 87.2 89.7 85.3 85.9 68.8 82.4 54.9 125.4 Hogs.: Cotton Wheat •Data do not cover calendar weeks in all cases. § Computed normal=100. ISeas onally adjusted. ©Index for week ended July 15 Is 85.4. _ 1937 July July June June June July July July July 10 3 2 24 9 10 8 17 Finance—Continued. Banking: Debits, outside N. Y. C.?— Federal Reserve reporting member banks: Loans, total Interest rates: Call loans? Time loans X Currency in circulation? Production: Automobiles. „ Bituminous coal? Cotton consumptioni Electric power tLumber... .. . Petroleum* Steel ingots© Receipts, primary markets: Cattle and calves 90.8 91.3 90 6 89.8 77.6 76 ? 109.7 107.9 94.4 93.2 92.3 89.7 68.1 68 6 110.9 109.2 100.9 99.6 99.1 77.4 78 4 124.6 121.2 1938 89.0 94 ?, 95.7 83.0 92.4 105 0 81.9 114.0 102. 2 65.1 64.7 64.6 64.8 64.9 66.0 66.6 77.9 78.1 24.2 ?4 ? 24.2 24.2 24 2 24.2 24 2 24.2 24.2 28.6 n 6 28.6 28 6 28 6 28.6 28 6 28.6 28.6 146.2 144,3 143.0 143.1 143.8 133 9 133.1 134.1 133 4 56.1 92.6 106.3 102.6 85.5 38.5 57.6 131.1 161.1 65 9 63.6 63.2 62.7 55.5 51.7 75.4 71.5 118.9 117.1 115 3 89.1 88 6 123.1 128.1 138.1 137.2 136.0 135.5 112.9 120.9 125.8 134.3 42.6 50.5 48.2 48.1 30.2 32.7 55.1 49.5 166.3 165.8 165.5 162.1 158.2 146.9 169.0 169.3 66 1 93 3 94.5 91 2 93 1 37 8 48 4 110 5 123 2 60.7 57.6 53.6 58 8 60 3 63 9 68 8 83 5 36.2 35.1 35.3 38.0 32 2 36 2 24.3 29 3 28.8 31 2 33 8 31 9 28 5 16 9 26 5 15 0 18 1 _ . . . 327.9 230.4 167.4 83.0 77.0 310.2 113.4 305.3 178.0 - ._„ tDaily average. f Weekly average, 1928-30=100. <?FOT description of these indexes, see p. 4 of the Dec. 16,1937, issue. WEEKLY BUSINESS STATISTICS < 1939 July 8 COMMODITY 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.Banking: FINANCE Debits, New York City mil. of dol._ Debits, outside New York City (140 cities) do— Federal Reserve banks: Reserve bank credit, total. do U. 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. U. 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, call loans? percent.. Interest rates, timeloanst — do Exchange rates: French franc? _.cents.. Pound sterling? : dollars.. Failures, commercial number.. Currency in circulation? mil. of dol.. Security markets: Bond sales (iV. Y.S. E.) thous. of dol. par value.. Bond yields (Moody's) (120 bonds)? percentStock sales (N. Y. S. E.). . thous. of shares.Stock prices (N. F. Times)X dol. per share.. Stock prices (Standard Statistics) (420) 1926=100-Industrials (350) do. Public utilities (40) do. Railroads (30) do. PRODUCTION, CONSTRUCTION, AND Production: DISTRIBUTION Automobiles! _ _ number.. Bituminous coal? thous. of short tons.. Electric power. ...mil. of kw. hr__ Petroleum?. _~thous. of bbl.. Steelingots® pet. of capacity.. Construction-contract awards? thous. of dol Distribution: Freight-car loadings, total. ..cars.. Coal and coke do Forest products dol— Grains and grain products do Livestock _ _do. Merchandise, 1. 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._ 0.093 .099 "35.~8T 1938 July X June 24 June 17 June 10 June 3 0.098 .097 2.18 35.72 .70 0,098 .100 2.18 35.72 0.098 .099 2.19 35.71 .72 0,098 .100 2.21 35.72 .75 0.098 .098 2.25 35.59 .79 0.093 .092 2.41 36.33 July 9 1937 July 2 1936 July 10 July 3 0.088 .090 2.40 36.29 .73 0.138 .131 2.90 39.91 1.22 0.138 .125 2.84 39.83 1.21 0.093 .137 2.76 33.48 1.11 3,272 3,798 4,292 4,405 4,742 3,761 4,036 2,590 2,564 8,041 2,900 2,578 2,526 6,827 875 2,562 2,526 6,900 865 2,472 2,430 5,814 2,883 July 11 3,406 4,129 4,366 3,425 4,438 3,047 3,875 3,744 4,286 2,756 3,761 2,569 2,551 10,151 4,292 2,567 2,551 10,116 4,243 2,584 2,564 10,099 4,227 2,605 2,564 10,101 4,264 2,576 2,564 10,053 4,279 2,573 2,564 10,029 4,218 3,473 4,059 2,603 2,564 8,074 2,985 17,109 5,229 13,858 8,485 17,220 5,237 13,862 8,423 17,238 5,238 13,851 8,404 17,212 5,225 13,781 8,390 17,057 5,229 13,679 8,318 16,965 5,235 13,554 8,237 14,801 5,229 12,224 7,731 15,036 5,239 12,240 7,770 14,855 5,249 12,483 8,297 15,187 5,235 12,530 8,301 14,630 4,999 14,105 9,493 2,150 8,142 2,148 2,127 8,072 2,108 8,097 2,092 8,116 2,055 8,126 1,495 8,252 1,488 8,321 1,141 9,734 1,152 9,760 1,277 8,359 1.00 1.25 3,822 1.00 1.25 1,00 1.25 1.00 1.25 4,331 1.00 1.25 4,331 1.00 1 25 1.00 1.25 3,872 1.00 1.25 1.00 1.25 3,823 LOO 1.25 3,831 2.649 4.681 162 7,098 2.649 4.681 233 7,005 2.649 4.681 264 2.650 4.683 212 6,950 2.650 4.684 234 2.649 4.683 210 6,972 2.775 4.940 193 6,504 2.785 4.955 256 6,461 3.867 4.956 116 6,514 4.088 4.938 164 6,478 6.627 6.022 141 6,243 17,840 3.71 1,442 95.57 83.3 97.3 82.9 24.7 28,970 3.71 3,126 94.36 82.8 96.7 81.9 24.4 27,040 3.71 2,412 97.22 85.7 100.2 84.4 25.4 26,690 3.70 2,511 31,850 23,690 3.73 2,438 97.31 86.0 100.4 84.8 26.3 37,630 4.24 8,446 96.63 87.6 104.6 77.3 27.1 49,520 4.33 12,133 95.05 85.4 102.2 75.7 25.5 37,920 3.89 4,993 128.72 117.8 139.3 95.7 53.4 41,080 3.95 3,484 122. S4 111.7 132.2 90.6 49.8 57,890 3.92 6,534 126.70 106.4 121.0 104.0 48.7 42,784 70,663 1,122 2,300 3,463 54.3 81,070 1,083 2,285 3,453 55.0 8,269 78,305 1,077 2,265 3,447 53.1 10,213 65,265 1,067 2,257 3,377 54.2 32,445 1,085 2,114 3,559 52.2 12,828 29,375 946 1,881 3,296 22.4 43,945 880 2,015 3,059 28.7 11,051 100,031 1,299 2,096 3,521 67.3 122,890 1,217 2,238 3,526 75.0 13,232 100,648 1,149 2,030 2,948 67.2 665,528 114, 738 32,988 51,484 10,415 153,461 44,102 258,340 642,987 106,813 30,552 46,992 10,272 151,850 41,417 255,091 637,873 106,781 30,550 38,821 9,457 152,502 40,696 259,066 634,597 105,399 29,930 34,283 9,760 501,013 74,378 20,941 56,334 153,082 43,504 258,639 567,732 97,867 27,340 30,291 9,770 133,316 38,987 230,161 123, 232 20,273 195,959 588,880 97,618 27,795 50,953 9,682 146,941 24,623 231,268 678,958 107,173 32,722 46,911 10,093 140,563 74,566 266,929 802,346 128,159 41,515 51,415 11,413 169,362 78,816 321,666 724,277 113,225 31,020 59,501 14,626 163,116 54,979 287,810 192 235 81 18,332 182 169 229 83 6,599 186 247 74 6,123 168 234 100 5,407 190 209 44 25,154 202 235 69 9,020 217 158 39 24,289 264 190 47 14,162 317 55 22,699 "~38.*5 75 26,084 13,313 85.6 100.2 84.0 25.6 3.71 2,933 98.54 86.6 101.1 85.7 26.3 ® Rate for week ended July 15 is 49.7. ?Daily average. • Data do not cover calendar weeks In all cases. §No longer st nctly comparable; for an explanation, see the corresponding data on page 30 of the April 1939 issue of the Survey. 1 Source: Wards' Automotive Reports. MONTHLY BUSINESS STATISTICS Monthly statistics through December 1937, together with explanatory notes and references to the sources of the data, may be found in the 1933 Supplement to the Survey 1939 1939 1938 June July Decem nOctober M . } l l , p Novemto_ . *.._ August SeptemJanuary February ber ber March 91 88 71 100 81 66 116 114 83 87 70 95 82 67 114 102 86 April May COMMODITY PRICES Page 12 Prices received by farmers (U. S. Department of Agriculture): Combined index,.. _. 1909-14=100. _ Chickens and eggs do Cotton and cottonseed do Dairy products do Fruits... do Grains.._ do Meat animals do Truck crops do Miscellaneous do 89 • 83 73 94 93 73 107 109 81 73 77 116 92 84 95 103 71 101 79 72 123 99 87 DOMESTIC TRADE Pages 27, 28, 29 Postal business: Receipts, postal: 50 selected cities. ....thous. ofdol.. 29,791 ••28,006 24,602 3,303 3,500 3,687 50 industrial cities do.... Retail trade: Chain-store sales: Variety-store sales: H. L. Green Co., Inc.: 2,496 2,712 2,366 Sales thous. of dol_. 132 Stores operated. ___..^—-.^_.,number.. _- 133 . 133 S. S. Kresge Co.: Sales . thous. of dol.. 11,293 10,643 10,004 680 681 Stores operated number. _ S. H. Kress & Co.: 5,822 6,235 6,406 Sales thous. ofdol.. 239 239 239 Stores operated number.. McCrory Stores Corp.: 2,946 3,200 3,420 Sales thous. of doL. 199 200 202 Store's operated ....number.. G. C. Murphy Co.: 3.294 3,301 3,758 Sales thous. of doL 201 201 201 Stores operated number.. F. W. Woolworth Co.: 22,733 23,149 Sales. thous. ofdol.. 24,662 2,010 2,010 Stores operated . number.. 2,013 Other chains: \V. T. Grant & Co.: 7,608 6,971 Sales . thous. ofdol-. 483 493 484 Stores'operated number, J. C. Penny Co.: 20,321 22,235 18,258 Sales thous. of dol 1,531 1,543 1,530 Stores operated . number.. Department stores: 79 *83 Sales, total U. S., unadjusted-.1923-25~100_. 94 M06 79 Atlanta 4°"-74 46 Boston <Jo—82 60 Chicago 5°— 75 59 Cleveland do— 90 72 Dallas . do— 72 61 Kansas City — ..1925=100.. 92 68 Minneapolis.1929-31=100.. 85 62 New York 1923-25=100.. 63 46 "63 Philadelphia j°—• 72 103 Richmond do— v 106 58 69 St. Louis -do— 73 80 San Francisco ...do— 83 82 *>87 Sales, total U. S., adjusted do.... 104 *> 118 113 Atlanta do.j.. 84 83 Chicago do— 78 78 Cleveland do— 101 103 M01 Dallas do.... Minneapolis......—.—.-1929-31=100.. New York 1923-25=100.. Philadelphia. .do.... St. Louis.. do.... San Francisco;..'...... — do— EMPLOYMENT CONDITIONS AND WAGES Page 38 Trades-union members employed: All trades percent of total.. Building _ .do.... Metal.... _ —do.... Printing. ___ ...do Allother do.... On full time (all trades)...— do.... FINANCE Pages 53, 54, 62, 65, 70, 71, 75, 76 Banking: Bank debits, total (141 cities) mil. ofdol-. 32,797 30,505 New York City do.... 15,312 15.637 13,828 Outside New York City do.... 18,676 17,160 16,677 Federal Reserve banks, condition, end of month: Assets (resources) total mil. ofdol,. 17,172 14,214 14,285 Reserve bank credit outstanding, total 2,589 2,596 2,579 mil. ofdol.. 1 1 Bills bought. _ do 8 7 5 Bills discounted— do 2,564 2,564 United States securities do 2,551 11,041 11,049 Reserves, total d o — 13,874 10,645 10,642 Gold certificates do.... 13,524 14,285 Liabilities, total do.... 17,172 14,214 9,247 9,270 Deposits, total do.... 11,701 Member bank reserve balances, total 8,024 8,164 mil. of doL. 10,018 3,022 2,875 4,140 Excess reserves (estimated) .do Federal Reserve notes in circulation 4,149 4,135 4,511 mil. of dol.. 82.4 85.6 82.4 Reserve ratio percent.. ' Revised. 92 105 69 102 78 62 115 92 95 118 69 104 75 63 117 107 90 85 72 92 85 72 112 110 95 124 72 107 70 60 111 107 107 94 131 73 109 71 60 111 102 95 96 127 70 112 73 63 109 108 108 94 97 71 109 76 109 92 91 70 107 78 66 116 108 92 28,537 3,667 27,710 3,493 33,478 3,979 29,830 3,618 30,922 3,687 133 1,959 132 2,442 133 2,S69 133 2,733 133 8,801 9,058 681 10,606 683 11,940 683 11,401 682 5,055 23S 5,163 238 5,969 238 6,315 239 6,818 239 2,535 202 2,738 202 3,196 202 3,648 202 3,300 202 26,609 3,446 29,517 3,472 30,850 3,728 31,426 3,568 42,470 5,154 2,315 133 2,513 132 2,833 132 2,819 133 10,179 682 11,125 685 12,353 685 11,972 6,179 238 6,827 238 6,613 238 2,960 200 2,955 200 3,294 200 3,186 200 5,952 : 133 24,114 687 14,429 238 7,003 200 3,087 201 3,308 201 3,811 201 3,594 201 7,223 201 2,685 201 2,752 201 3,205 201 3,848 201 3,741 201 22,566 2,011 23,491 2,013 26,774 2,017 25,295 2,018 50,379 2,017 19,653 2,014 20,686 2,011 23,104 2,012 25,919 2,008 24,725 2,005 6,834 484 7,653 484 8,970 487 8,635 489 17,996 491 5,531 489 5,748 489 7,164 489 8,376 489 8,496 491 19,068 1,533 22,381 1,537 26,820 1,538 27,196 1,539 1,539 16,523 1,539 14,613 1,540 18,736 1,542 21,281 1,544 22,233 1,545 65 100 55 72 65 83 74 81 64 48 81 63 86 83 128 87 78 108 93 86 62 83 90 91 120 73 92 126 86 91 87 113 92 109 98 75 ±27 92 91 84 106 82 82 100 92 85 65 81 126 86 96 93 118 89 96 106 82 118 95 102 89 111 88 88 105 96 89 68 82 96 156 203 138 157 152 182 151 147 164 127 209 143 162 89 119 94 93 105 97 92 70 87 95 91 64 69 67 87 67 75 68 49 77 69 77 88 115 86 88 114 91 101 54 67 71 89 64 63 71 52 75 68 79 87 115 84 87 105 86 86 68 79 94 82 116 68 92 88 119 75 '89 92 104 82 97 86 67 102 89 90 88 115 86 84 104 95 89 68 86 92 87 '118 75 107 94 67 110 93 82 86 127 93 86 105 98 90 68 87 97 80 65 105 82 84 88 125 98 92 105 96 91 70 ••88 '71 88 75 83 90 91 70 82 65 64 ••105 '86 94 "85 ••70 115 '86 91 85 '116 '88 '84 '105 '94 28,270 12,247 16,023 29,525 13,085 16,440 33,235 15,140 18,096 29,463 12,425 17,039 18,879 21,087 32,393 14.533 17,860 27,581 12,380 15,201 34,486 16,274 18,211 30,143 13,311 16,832 31,928 14,165 17,763 14,261 14,573 14,861 15,293 15,581 15,639 15,862 16,186 16,766 16,922 2,585 2,600 1 8 2,563 11,295 10,918 14,573 9,406 2,586 2,601 2,607 2,598 2,587 2,595 2,573 7 2,564 11,639 11,272 14,861 9,672 2,584 1 7 2,564 11,970 11,613 15,293 9,935 4 2,564 12,166 11,798 15,581 10,088 8,724 3,205 5 2,574 12,382 11,948 15,639 10,420 4 2,564 12, .561 12,125 15,862 10,571 4 2,564 12,951 12,553 16,186 10,919 4 2,564 13,673 13,326 16,922 11,535 9,215 3,644 8,936 3,387 9,157 3,559 3 2,571 13,476 13,103 16,766 11,376 9,900 4,098 4,339 83.9 4,353 84.2 4,380 84.7 4,458 85.1 4,477 85.4 2,564 11,026 10,640 14,261 9,212 8,179 2,941 8,198 8,713 3,227 8,876 3,383 4,169 82.4 4,253 82.7 4,315 83.2 4,452 4,385 83.7 83.6 * Preliminary. 10,029 4,220 MONTHLY BUSINESS STATISTICS—Continued Monthly statistics through December 1937, to- 1939 gether with explanatory notes and references to the sources of the data, may be found in the June 1938 Supplement to the Survey 1939 193S June July August S ^ m r - October N ™ m January March FINANCE—Continued Monetary statistics: Foreign exchange rates: Argentina dol. per paper peso. Belgium. dol. per belga. Canada. dol. per Canadian dol. France.. _dol. per franc. Germany dol. per reichsmark. Netherlands.. dol. per guilder. Sweden dol. per krona. United Kingdom dol. per £ . Public finance (Federal): Debt, gross, end of m o . . . mil. of dol. Public issues: Interest bearing* do.... Noninterest bearing* do Special issues to gov't. agencies and trust funds* _ _ .mil. of dol.. Receipts, customs. ..jthous. of dol. Capital flotations:! Securities issued by typo of security, total thous. of dol.. Nefw capital, total ___do___. Refunding, total do Securities issued by type of corporate borrower, total thous. of dol.. New capital, total __. __do Industrial.—_ _._ do.... Public utilities _ do._.. Refunding, total __ do.... Industrial : _ do Public utilities. . do_. Security markets: Stocks: Dividend declarations (N. Y. Times): Total __ .' thous. of dol. Industrials and miscellaneous do... Railroads do.__ Prices: Dow-Jones & Co., Inc. (65 stocks) dol. per share. Industrials (30 stocks) do Public utilities (15 stocks) do.... Rails (20 stocks) _ do New York Times (50 stocks).. do.... Industrials (25 stocks) do Railroads (25 stocks) do 0.312 .170 .998 .026 .401 .532 >241 4.682 0.331 .170 .989 .028 .403 .553 .256 4.958 0.329 .169 .994 .028 .402 .550 ,254 4.929 0.325 .169 . 990 .027 .401 .546 .252 4.881 0.320 .169 .994 .027 .400 .539 .248 4.804 0.318 .169 .991 .027 .400 .544 .246 4.768 0,314 . 1<S9 .992 .026 .400 .543 .243 4.708 0.311 ".168 .991 .026 -401 .544 .241 4.670 0.311 .169 .992 .026 .401 .S42 .240 4.669 0.312 .169 .995 .026 .401 .536 .241 4.680 0.312 .168 .9C6 .026 .401 .531 .241 4.685 0.312 .168 .995 .026 .401 .531 .241 4.681 0.312 .170 .996 .026 .401 ,536 .241 4.681 40,440 37,167 37,194 37,596 38,395 38,426 3S,607 39,439 39,641 39,864 39,985 40,063 40,282 36,116 554 33,903 33,834 549 34,112 541 34,920 543 34,950 526 34,981 535 35,755 528 534 35,949 533 543 36,033 538 36,0S5 531 3,770 24,517 2,676 21,950 2,810 23,101 2,943 28,673 2,933 2,949 30,797 3,090 27,338 3,156 25,121 3,215 24,318 3,382 22,361 3,454 29,266 3,492 29,437 3.666 25,318 604,380 292,576 311,804 417,936 513,132 348,765 390,633 182,286 164,367 79,064 235,650 282,039 30,241 12,198 12,666 251,798 79,810 160,185 301,107 202,316 143,261 51,775 98,791 4,507 94,284 185.821 33$,155 130,276 127,014 120,365 69,550 9,704 49,965 55,545 211,141 5,500 41,659 46,045 220,175 19,477 222,001 207,374 14,627 167,170 240,965 185,428 157,175 230,994 182,735 9,970 2,693 9,995 45.66 136.52 23.66 27.69 96.95 173.12 20.79 38.73 118.79 19.38 21.82 85.70 153.92 17.49 46.05 139.47 21.64 28.16 98.90 175.95 21.85 46.13 140.97 20.01 28.49 99.74 177.53 21.95 766,188 146,033 166,908 92,335 599,280 395.807 529,182 277,339 540,723 239,915 220,893 241,001 220,531 377,550 162,2.^8 174,914 288,181 56,809 163,173 77,658 150,072 338,159 151.223 259,968 84,937 •63,922 43,521 59,544 80,835 40,561 18,284 48,801 2,612 20,441 21,285 6,391 65,136 274,237 107,702 250,493 16,180 14,458 44,656 66,404 41,824 259,659 63,045 139,795 43.98 137.04 18.49 25.62 95.68 171. 70 19.68 16,213 5,827 23,571 1,027 20,171 2,475 1,170 10,386 136,115 12 3,986 300 111,029 99,654 52,965 18,558 4,202 46,689 15,301 31,388 180,506 509,160 247, 569 194,118 186,095 169,901 483,396 229,916 181,480 289,412 182, 522 10,605 22, 765 17,653 12,638 14,427 3,573 49.64 150.36 22.92 30.62 106.81 189.69 23.95 50.32 151.96 23.35 31.29 105.29 186.99 23.59 49.32 150.12 21.94 30.52 105.36 186.99 23.74 49.13 146.87 23.30 31.20 102.73 181.82 23.64 48.68 144.60 24.94 30.31 102.22 181.21 23-24 48.99 145.06 24.84 31.07 100.69 178.01 23.18 355,941 1,312,007 142,621 116,623 213.320 1,195,383 182,492 20,990 3,987 75,981 403 579 161,502 181,749 2,000 60,175 154,400 106,500 258,809 77,ono 154,076 377,394 147,635 358,417 6,440 18,976 42.68 127.73 22.05 25.75 90.46 161.51 19.41 '44.43 132.56 ' 23.05 '27.02 94.19 167.73 20.67 METALS AND MANUFACTURES Pages 133, 137, 138 Steel, crude and semimanufactured: Ingots, steel: Production thous. of long tons. 3,106 2,537 1,974 3,130 3,131 3,558 2,647 2,982 2.918 2,987 3,217 3,396 41 52 Percent of capacity _ 44 35 27 53 53 54 60 52 54 55 Nonferrous metals: Tin: Deliveries _ long tons. 3,775 5,905 4,205 4,925 4,465 3,535 4,960 3,775 4,755 4,105 3,400 5,980 4,330 World, visible supply, end of mo do— 30,055 29,061 31,097 32,251 32,476 31,539 30,598 30,554 34,240 35,245 33,890 33,873 30,866 5,232 United States do..3,387 5,060 4,500 4,071 4,247 4,388 3,385 5,806 5,157 4,573 5,486 4,624 Zinc: Production, slab, at primary smelters short tons., 39,450 30,799 30,362 32,296 32,328 36,740 40,343 45,345 44,277 39,613 45,084 43,036 42,302 Retorts in operation, end of mo.__number.. 36,291 26,437 25,596 29,767 31,555 32,427 36,243 38,793 39,500 39,459 38,251 * 36,331 Shipments, total _ short tons.. 37,284 29,248 36.507 43,582 43,355 43,693 39,354 42,639 39,828 45,291 40,641 "39,607 37,284 29,248 33,825 36,507 43,582 43,355 43,693 39,354 42,639 39,828 45,291 r 40,641 39,607 Domestic^ _ do 135,241 149,671 146,208 141,997 130,743 124,128 120,778 126,769 128,407 128,192 127,985 "130,380 133,075 Stocks, refinery, end of mo do TEXTILE PRODUCTS Pages 154,156 Cotton: World visible supply, total..thous. of bales.. American cotton do Silk: Deliveries (consumption) „ bales Total, visible supply, end of mo do.... United States (warehouses). do 7,029 4,737 26,256 60,709 19,209 8,142 fi«772 7,893 5,491 7,643 5,479 8,726 6,686 9,802 7,750 31,492 32,593 133,157 138,105 44,457 42,305 38,504 135,347 39,747 38,844 142,511 40,711 35,631 151,311 43,811 9,652 7,478 9,361 7,050 9,247 6,945 8.441 5)960 41,599 35,204 40,816 150,718 149,778 124,354 46,218 53,278 48,554 33,219 98,078 38,178 37,863 86,816 23,116 9,757 7,790 7,971 5,507* 27,802 77,238 20,738 7,456 5,030 26,150 61,601 24,201 ' Revised. •New series. New items for Federal gross debt L _, p. 16, of the April 1939 Survey. tRevised series. Data on capital flotations revise^ i beginning January 1937; see table: \ pp. 15-16 of the May 1939 Survey. NOTE.—The data in the above tables present, in advance of the monthly Survey of Current Business, such items as were received duringlthe week ended Saturday,*July*8. Ihese 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 1938 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 1938 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, andd the 52 Weekly Supplements, may be obtained from the Superintendent of Documents, Washington, D. C , for $2.00 per year. The]I938 Supplement may be obtained o *-*-*from the same source upon receipt of $040 $0.40. U . S . GOVERNMENT PRINTING OFFICE. 1939
@FedFRASER