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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 DEPARTMENT OF COMMERCE BUREAU OF FOREIGN AMD DOMESTIC AVAILABLE ONLY WITH SUBSCRIPTION TO SURVEY OF CURRENT SELECTED STEEL INGOT COSMil^ERCE BUSINESS JUNE BUSINESS INDICATORS PRODUCTION ELECTRIC POWER PRODUCTION BY UTILITIES (l935-3S«lpO) WEEKLY 200 (BILLIONS 5.5 DATA \I948 L y\ xr °^<i94? 1 1946 X . / f 1 STPiKC PEPI-.W too - - J •*""" M "*'~"~ , '0^? f\ \ \ I \ WeCKLY A i 4.5 \J 1947 f \\ 6 Tv 4.0 L..I U L l I 1 .J„.L-LXJ,,„l....l L.i„jJ.JLX. ,1, i . i i I i i 1 i i „l„.l„ t J, i 1 <l i n I I M i h . n l MONTHLY DATA I75h f* I50[ 1001 <W > T < > iil . i i . t 1946 ^J A - * i25; \/_ CLOSE 200- RECEIPTS *** (1935-39-100) WEDNESDAY WAGE AND SALARY -r PRICES OF 3 5 4 INDUSTRIAL STOCKS PERSONAL INCOME TOTAL PERSONAL INCOME / --y I I ! M i l 1 ! 11 1 1 I.L.1 J _l l . . i . ! J J . . . i , . . i , , j d j - J - i a J o j j J j - J u J 3.5 BILLIONS OF DOLLARS, SEASONALLY ADJUSTED, AT ANNUAL RATES 225[" HOURS) -v v 1946 cm SOT purree 50 O F KILOWATT DATA r-/94& 5.0 or 18, 1948 ^^^w^r0 °**-«H> ^ 1 1 1 1 lJ.-LX.JL.UJL.. ,.,J„..I,J_.l.jJ., 1947 WEEKLY AA r~f ^ <f V A^/^S/ \ ( ,.1.1,1 1 I..LXJ-LJ-L. J U J - J . I . J . . U I , 1 I..L- i l . i i i 1, J i 1 .1..-.J 1948 BUSINESS Commodity p r i c e * , wholeeale: ,..1926B100. A l l commodities.... do.., farm products do... food »....«.do• •© ill other.•••••••*•••••• •Jaguot 1939-100. 28 commoditiee £/ d o l . per lb* Cotton, middling, 15/3.6\ 10 marketc j/.... d e l . per bu. Wheat, Ho. 2, Hard Winter (Kansas City) 4/. 1935-39-100. Department store ealec ..... Xneured luemployment, total 5/0 • .. .do... State programs «40e«. Veterans' programs.. ece......... finance* L. of dol. Currency i n c i r c u l a t i o n 3 / ..... ••••.do... Federal Eeserve bank c r e d i t , t o t a l do* Neater bank vwr9 balance* ••• do. 9soess reeervee, estimated federal Beserve reporting member bank* ia leading cities* 6/ Bonk debits, total ail. of dol.. lew York City ..do.... Deposits, demand, adjusted.......... .do.... Loan* and investments, total •• do.... U. 8. Oorernaent obligation* do.... Commercial, industrial and agricultural loans do... • failures, commercial • .number. • Bond yield*, domestic corporate (Moody1 e) .percent.. , Stock pricee, 402 stocks (Standard and Foor s)..1935~39«W(>.. Industrials, 35k stocks do.... Productions Bituminous coal 2/ thou*, of short tone.. Hectric power, by utilities,... mil* of kw-hr.. Motor rehidee (Ward*) 2/.. number.. Petroleum 4/ thoue. of bbl.. Steel 8/ 1935-39-100.. f r e i g h t oar loadings, t o t a l thou** of c a r e . . MlsoeUaneoue. • do.... f 19*18 May 31 June 7 147.4 178.4 161.6 132*3 297.5 •359 2.75 250 1,891 1,161 147.9 179.5 I63.I 132.2 300.2 88,194 22,019 17.0*3 320 28,266 22,234 17.515 JUL^U STATISTICS1 1947 urn 111 1948 2. 293 1,883 1.149 697 15.95 17.gj4 £3 £S. 63.239 39.220 11,792 72 2.80 115.6 119*4 62,909 38.536 U 2,181 4.429 79.315 5.024 187.0 2r2J8 4.635 -H 2.80 116*0 120.1 May * May 15 May 22 161*9 184.0 174.8 148 *9 320.1 .369 2.42 33? 1.584 1*098 I63.5 187-9 178.9 149.0 322.0 •379 2.42 293 1,5» 1,069 415 27.785 20,856 17.033 856 27.764 a,038 17.087 934 163.5 189.2 177.2 149*2 324.4 •379 2-39 295 1.489 1,060 393 27.698 20,674 16,506 334 19.975 22.530 21,075 8.710 46.529 35.640 14,205 108 3.04 125*8 132.2 2.123 .* 46 , 8 9 ° 63.ll* 35.499 14.255 100 £5 134.9 2,208 5.109 83.275 5.423 190.4 * * 29 164*4 193-0 178.0 149.3 324 0 .376 June 5 327.7 •377 2.39 2§6 27.752 21,201 16,901 713 14,208 92 3.01 132.3 139.0 20,858 8,8a 46,856 63.129 35.298 14,206 112 3*oo 134.4 141.7 2.287 5.085 91.138 5.43? 192.6 879 379 2.303 5.109 92.772 5.452 195-5 905 393 27,880 21,292 17.094 9a 8,285 2-99 38 75.999 5.413 5.064 "193.8 183.7 190.1 881 901 390 388 1/ Data do aot alway* coyer calendar week*. jg/ fimredey pricee. £/ Daily average*. 4/ Data eiaee week ending July 12, 1947 include dark hard winter aot included previously. 5 / for description see note l a July 13, 1946 issue. 6/ Shown on a revised basis beginning la Supplement for July 18, 1947* Jj Data are' for U. S. and Canada and iaolude pasaenger cars, eoaaerelal ears, and truck*. 8/ Week endiag June 12, 194.0. 9«. m a MONTHLY BUSINESS Sarlier data are available in monthly issue* of the Survey and the 1942 Supplement STATISTICS 1947 April 19*18 May Pebruary March May April GENERAL BUSINESS INDICATORS Personal income, seasonally adjusted, at annual rates: Total personal income M l . of dol.. Wage and salary receipts, total do... (Total employer disbursements • do... Commodity-producing industries • do. • • Diatributice industries*. *dc..., Service industries do... Government • do*.. . Less employee contributions for social insurance..do.... Other labor income do... Proprietors1 and rental income do..* Personal interest income and dividends do... Total transfer payments do. •. < Total nonagrleultural Income* • do***, 189.4 116.0 118.2 52.8 190.5 117.3 119*4 14.8 17-5 2.2 1.7 46.5 14. 3 10.9 168.3 33.8 14.9 17.2 2.1 1.8 46.5 14.4 10.5 169.7 53-5 51.6 15.8 ?•* 184.1 BUSINESS POPULATION Industrial and commercial failures: Grand total number. Commercial service do... Construction do... Manufacturing and mining do... Retail trade.. do... Wholesale trade do... Liabilities, grand total thous. of dol. Commercial service do. • • Construction do. •. Manufacturing and mining do... Retail trade , do-,. Wholesale trade do... COMMODITY PRICES Prices received by farmers, all farm products... .1909-14.100. Crops do... lood grain• • do... feed grain and hay ....do... Tobacco do. • • Cotton do. • • fruit do... Truck crops do. •. Oil-bearing crops do... Livestock and products • do... Meat animals do... Dairy products do... Poultry and eggs do... 207.7 127.1 129.2 5S.3 37.7 15.5 17.7 2.1 277 S U7 84 c 37 16,080 1,015 2*7 11,822 1»503 M93 269 277 223 7 2f 260 223 295 358 262 331 257 204 37« .33 20 155 119 17,326 739 321 10,971 3,037 2,258 268 276 M7 44 22 151 165 194 <& 25,619 .57 17,481 979 1.987 17,897 3,410 1,346 1,8«3 957 9,243 279 257 ?J3 as 390 270 222 286 326 275 7 3F 241 203 r207.7 rl26.4 rl28.5 r57-9 r37.4 15.5 rl7-7 2.1 1.8 51.5 16.0 rl2.0 r!84.8 374 248 136 320 333 300 331 307 218 262 260 284 372 295 339 302 342 298 212 928 713 310 1.032 790 2.1 1.8 53.7 lb.l 11.7 184.6 , 404 50 30 99 175 52 15.296 1,472 1,662 7.057 2,476 2.629 291 Sf7 261 291 371 275 142 340 351 304 3 142 30 135 215 1615 * 40 4 I 100 ^29.957 602,33s 440,985 144 133 123 44,236 22,205 21,857 l 53 i ?' J 44,236 17,470 15,826 654 24,022 47.1 1,009 37 _? r400 265 rl,l66 r940 141 40 153 242 9 •s 120 42 11 r49 1 41 r65 ^20,557 681,967 504,645 1 r57 87 ?13 •71 r2 r98 99 ,.27.999 689,763 525.480 37.061 873.882 689.207 489.984 153 130 127 110 161 135 I87 152 rl82 rl56 rl81 rl48 204 182 17? 156 44,882 22.738 22,088 19,689 44,882 18,009 16,238 46,991 22,109 21,024 21.776 46,991 19.807 I7.t>62 762 24,045 49-7 46,589 21.607 20,887 21,878 46,589 19,610 16,639 655 2 ,768 3.50.4 45,499 20,858 20,340 21,910 45.499 19,007 16,944 3 76 674)657 X - " 24,120 46.7 r/ Revised. 1/ See note on corresponding item in the May 1948 Survey of Current Business. 127.9 ' 57.4 37.1 15.6 17.8 282 370 284 141 262 357 309 361 291 211 214 CONSTRUCTION AMD REAL ESTATB New construction, total 1/ mil. of dol. Private, total do... Residential (nonfarm) do •.. Nonresidential building, exc.farm and pub.utility...do... Industrial do... Parm construction do... Public utility do... Public construction, total ..do... Residential construction do.. • Military and naval do... Nonresidential building. do. • • Industrial. • do... Highway do... All other do... Contract awards, 37 States (P.N. Dodge Corp.): Total projects number. Total valuation thous. of dol. Building, total do... Value of contracts awarded (Pederal Reserve indexes): Total, unadjusted 1923-25-100. Residential, unadjusted do.• • Total, adjusted do... Residential, adjusted .do... IINANCX Pederal 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... Deposit s, total •• •• • • • • -do. • • Member bank reserve balances do... Excess reserves (estimated) do... Pederal Reserve notes in circulation. do... Reserve ratio • .percent. 209.1 125.8 158 17 i 28 r226 ll r65 rl.302 rl,015 525 r263 rllo 37 190 "S ***** 51.4 1,449 1,111 575 28 ? 114 50 203 338 7 15 80 2 125 111 46,270 21,576 20,662 22,036 46,270 19.761 17.021 p818 23.675 50.7 MONTHLY BUSINESS Earlier data are available in monthly issues of the Surrey and the 1942 Supplement 3 S T A Tl S Tl CS — Continued 1948 1947 April february March April PIHAHCS - Continue Federal Government f inance: Debt, gross, end of month..... mil. of dol. Intereet bearing: Public issue*.., . do.., Special issues do... Scninterest bearing .... do*., Obligations guaranteed by B. 3., amount outstanding...do... Gold, monetary stock, United States do... Currency in circulation do... Bonds: Prices: Industrials, utilities, and rails (Standard and Poor's Corporation)I High grade (15 bonds)«... -.dol. per $100 bond. Medium and lover grade, composite (50 bonds) do. •. Industrials (10 bonds).., .. do... Public u t i l i t i e s (20 bonds) do... fiailroads (20 bonds) .....do... Domestic municipals (15 bonds) . . . . . . . . . -do. •. U. S. Treasury bonds (taxable) , do.., Tields: Domestic municipals (15 bonds) percent. U. S. Treasury bonds (taxable)* do..., Stocks: Prices: Dow-Jones & Co. (65 stocks) dollars, per share. Industrials (30 stocks) do... Public utilities (15 stocks) do.., Bailroads (20 stocks) „....,....,.. do,., Standard and Poor's Corporation: Combined index (If02 stocks). 1935-39*100, Industrials (354 stocks) do.., Public utilities (28 stocks) do.., Bailroads (20 stocks) do.., Tields: Preferred, high-grade (15 stocks) percent, 258.3*3 254,605 252,990 252,240 229.147 2^,230 3.274 171 20,774 28,114 •S3 222,854 29,246 220,718 29,201 2,320 So.933 26,261 23.036 28,019 221,362 29,27? 2.356 73 23.137 27,781 23.16? r27.7l6 122.8 II6.5 123 112 113 122.9 115.0 123.2 112.5 109.2 133.9 104.5 117.5 112.4 119.3 114.1 103,8 122.6 100.7 118.0 112.1 119.1 113.5 103.7 123.1 100.8 118.6 114.1 Uf.6 116.4 106.4 125.7 100.8 I.98 2.19 1.95 2.19 2.55 2.45 8 2.38 2.44 61.04 171.28 34.52 45.88 59.49 168.67 ll'M 60.91 168.47 31.95 49.19 169.94 32.24 50.64 119.3 123.1 104.6 102.2 115.2 119.0 102.0 95-1 114.2 119*2 92.6 101.9 116.4 121.8 93.0 105.2 3.75 3.76 4.18 4.12 1,086 1.076 582 1.141 1431 257.701 104 3.3& 1° 66.03 180.05 33.75 I 56.03 124.6 130.8 I 96.2 I 115.2 4.12 I P0BSIGH TBADS Sxports, including reexports, total Exports of U . S. merchandise General imports, total Imports for consumption mil. of dol, do.. do.. do.. 512 574 639 3.078 2,95* 510 1.122 1,1U 527 525 THAHSPOBIATION freight carloadingss Total cars (A..A.H.) 1/ Coal Coke Porest products Grains and grain products Livestock Merchandise, l.o.l Or Miscellaneous thousands, do.., do.. «.do.. do.*, do.. do.. do*. do.. 3.233 547 53 183 S 4.376 922 72 233 7 8 166 144 3* 434 56 1.454 1.535 1.909 3.094 681 2.413 2.955 60s 2.3*7 5.217 1.977 3.240 3.3 2,480 2.638 3.141 691 2.450 5.H09 1.9«1 3.428 1.8% 2.623 JB 4.830 5.081 53 181 141 & 64 1.509 2.984 408 40 173 II 447 204 1.510 LUMBBE AND MAHDfAOTURKS Lumber (national Lumber Manufacturers Association): Production, total .mil. of bd. ft, Hardwoods do.. Softwoods do*. Shipmente, total do. • Hardwoods do. • Softwoods .do.. Stocks, gross, end of month, total do*. Hardwoods .do.. Softwoods •. .do. • 3.022 714 2.308 3.020 749 2,271 5,604 2,040 3.564 3.035 703 2,332 2,997 738 2.259 5.773 2,008 4,780 5.020 3,840 6.63* 16,022 13.761 4,976 17.125 15.172 1.953 5.601 2.074 3.527 3.765 M3TALS ABD MAlKffACTUBSS Pig iron, production Iron ore (Lake Superior district): Consumption by furnaces*.•• Stocks, end of month, total At furnaces On Lake Brie docks. Castings, malleable Iron: Orders, new, for sale Orders, unfilled, for sale Shipmente, total To outeide trades. TJ Revised. 2I Preliminary. thous. of short tons thous. of long tons do.. do.. do.. 6.579 13.555 11.735 1,816 6,885 17.618 15.541 2.078 6,441 22,628 19,412 3.216 short tons ...do.. do.. do.• 41.994 275.415 81,890 47.303 ^.006 262,117 75.488 42,304 46,270 209,447 75.194 42,582 1/ Data for May 1947 and May 1948 are for 5 weeks; other months, 4 weeks. 2.262 43.921 "Mi 50,017 42,168 199.578 80,602 45.941 4 MONTHLY BUSINESS aarl&sr data are available l a aoathly i issues of the Survey aad the 19*2 Supplemeafc ST A T 1ST iCS —Continued i?4? .April 19*8 Magr February M&rcL Jpril MBSttS M S iyOTJtfTURES - Ooatiaued Castings, s>t«el* Shipments, total.... ..«sborfc toas. 5for s a l e , total ....c, . do... Railway s p e c i a l t i e s »» . do•.. 3»ead, refiaeds Productloa, t o t a l • . « . . , « . * . . , * • • • • • . > . . . . •..••••• O &o.,<> Pr iaary • • • • • • * » t t r . • • > • • . • ••* *..te... Shipmeat e «•»-.' to.,, Stocks, end of m o a t h . . o e . . . . . . . . . . . . . » » . . , . » . » do..( 162,891 125,550 41,876 150,305 114,896 36.079 40^400 47,200 17.034 5?*093 46,579 52,287 14,837 *?.652 *6,577 *5.031 19.*53 10^,506 67.096 95.771 7.079 7.5*5 ^.295 13.527 2,709 35.452 961,185 95.088 321.089 157.233 ?6,58S 39.762 153.488 75.000 Vi4,5*3 7e558 U.551 3? 9 525 14,427 3,454 22,316 3?i,086,392 105,190 390,188 168,923 rS0,127 42,598 i*170,230 81 t 388 r$9»2li 6,464 i.2,084 22s543 yl4,652 1,082,398 102,027 385.683 161,535 76,477 *3.127 184,140 81,521 7.037 10fc6l2 22,072 14,504 3*335 32,2*f6 i 9 75^,410 885.366 T7fe*8j5 92Pl6S i.833.669 929.555 S04.800 99r3=* *•„ 700,552 877rl99 71^,023 M5.330 rl,929,623 r958,49* 7116,676 1.9069093 95L*20 841,925 112,7*8 * 8 279 4.^-9 •^56?5 Ma* s4,*3« 42.9*5 40,683 3M38 922 7.861 47,423 34,011 29,600 6,422 9.017 802 9.299 5.845 240 7.90U 9,091 996 8.356 u.677 1/ r44,502 r3*.97* »509 8,100 671 7.801 8,430 1,023 8,440 9.528 1/ 43.585 42,581 34,418 33v5?6 4,308 776 53**21* 48,995 Unbleached s u l p h i t e . . . . . . s « . „ « . . o . . . . . * S9&.32.2. ?33i3«T do... #rouadwood * 4o... defibrated, eaqplodad, ©to. ... .1 ..,.•........••......«dc.,., &?.©«ke$ end of month* total, all grades* •» • r. * *»»o .. * - •,. .da. - «. Slaaehed aulphate.••» « do.c. Unbleached sulphate*.,...,»...,....,*,..*. , *..- „.,..„.„.,. .do*.. Bleached sulphite.•«•...•••o do.». Uableached sulphite• •••••••••••ec.•••••« »do»•. Soda*«., »,,,,.,,.,..,.o.6........•.<.,>•..»...,..«•. ..,..>•».» .do.*« SrOOttdVOOd*. « • co » • - .- • o « e . • « o • . * » c . * . o« . . o „ o * • » » e . . . . & 0 . . . &X paper and paperboard m i l l s (Bureau of the Census) s Paper aad paperboard production, t o t a l . . . . » do... Pap©?.- • . , . . . . , • • , . . . » • . . . • .« 0«.*«. o » o . . . „ , . . . . . . . . . . . . d o . . • 2P«pereoar&«. •>, ,«,..„*.,,.:. . . - . . . - . • . » « . « » . , . »do«.... * Gliding board*...•••••.•«..,•.....•• * . . • • • . • • .do.*. 13.822 ~ o^h K 50,482 *7.233 PAPSH MD FBORXXG ¥ood pulp 1 Production, total* a l l g r a d e s . . . . . . • . . • • . . » . • • « *&©o.. Bl eachod oulphat © . , . „ « . . . . . . . » •r • » do. • * Unbleached s u l p h a t e . . • . . . • • • . • • • • • • . • • . • . * . , . • • • . » • . d o * . „ 140, S?4 103,779 28,850 142,4^* 107,762 34,800 14M75 106,12? 29*1*5 92,484 3f6.873 i64 e 79l W.133 ?24'776 PS2BQLBUK AND COAL PRODUCTS A&cferaoita, p r o d u c t i o n . * . . . . . . * . . . thoua. of short tons. Bituminous coals Industrial consumption and r e t a i l deliveries, total thouso of short tone. industrial consumption, total • .do... Beehive eoke ovens » do... Byproduct coke ovens do.. • Cement a i l l a • do... XLeetric power utilities do... fiallways (class I) do... Steel aad rolling sills do... Other industrial do... Be tall deliveries do... Other consumption, coal mine fuel « do... Stocks, industrial aad retail dealers, end of month, total thous. of short tons. Industrial, total. •. do... Byproduct coke ovens do... Cement mills * ...do... Slectrlc power utilities do... Ballways (class X) . do... Steel aad rolling mills do... Other industrial do... Retail dealers, total..... «do..> 671 7.655 640 6,414 9.226 858 10,987 6,494 174 42,419 40,298 5,417 S96 13.300 I?; I'M 48,613 47.424 8,807 991 1^V}868 7 9 6,488 649 819 7.292 4,411. U 12, 060 2,121 987 15.190 S 0 221 1.153 15.307 2.906 long tons. do... 43,818 292,970 43,018 330.960 51,012 148,081 r54,444 rl30,295 50.6S1 123.3*0 ..do... do*.. do... 5*.333 50.117 116,829 48,692 39.069 105.291 35.375 39.025 -1,025 65,1 i.649 r^8,222 43.9*0 r72.885 S:SS thous. of dosen p a i r s . do... do... 12,724 12,224 19.480 11,629 11.199 19.910 13.365 13.178 22,610 14,185 1*.312 22,483 13.303 12,850 22.936 382,640 1.853 1.599 284,357 261,240 96,430 75.696 382,991 1.090 752 274 .847 t 256.753 107,054 88,889 492,013 1,409 1,202 3*9.998 327,198 140,606 118,572 438,082 1,048 902 308,071 288,356 128,963, 111,911 RUBBER AHD RUBBER PRODUCTS Natural rubbers Consumption „ Stocks, and of month 2/ Synthetic rubbers Consumption Production Stocks, end of month 2/ m 14,735 1,189 13.609 5.599 831 14,101 1,004 771 11,112 842 « 78,678 2 X K K L B PRODUCTS Hosiery* Production Shipments Stocks, end of month IRANSPOfiXATIOEr S),UIPMBVI dtotor v e h i c l e s , factory s a l e s , t o t a l Coaches, t o t a l Domestic Passenger cars, total Domestic Trucks, total » Domestic £Ji &*«&**£. number. do... do... .do... ^..do... do... ..,.••...... .do... 1 / S^lmiiiitj «ai*uau'^ 134S ixtuludfed lii. %MU*K ladasftirial.3* 2 / SjUiw© ^ulj- 19*7 da-s« m-e X'spovtod ^tsoek® available to indastsy..