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SURVEY OF CURRENT BUSINESS WEEKLY SUPPLEMENT UNITED STATES DEPARTMENT OF COMMERCE BUREAU OF FOREIGN AND DOMESTIC COMMERCE WASHINGTON, D. C, MARCH 12, 1942 SUMMARY OF BUSINESS TRENDS still less than that at the year end. Lack of sufficient scrap an^ pigiron continues to hamper operations of thennaustry. Despite the declining activity in a number of^ej&jtaipaj appli4 during February at a pace comparable to that of other recent ance industries, the output of which is includea a& partr of tfic index of machinery production, available information points to months. The decline in a few important lines (such as automobiles) again was much more than offset by & further rise in the another sizable gain in the production of machinery as a whole. activity of those industries producing direct war material. On the other hand, both bituminous coal output and petroleum Both the stepped-up conversion process and the increased output refining were reduced slightly, though operations in each instance of finished war material were reflected in a marked advance of remain high. Wool consumption also has declined under the war expenditures. For the short month of February, thesek limitation order of the War Production Board. One reflection of the continued advance in industrial activity totaled $2.3 billion. On a daily-average basis, this sum represented an 18-percent increase over the January outlay, the most has been the maintenance of pepk electric power production, at a time when some seasonal decline in residential and commercial rapid rise since last September. In addition to an outright limitation on the output of a num- loads usually occurs. Power requirements in some areas have ber of civilian commodities, the process of conversion is requiring now reached the point where reserves are being utilized. Hence, changes in the specifications by which many goods are produced. in case of emergency breakdown, regular service cannot be mainThus during the past week, the War Production Board issued tained. Limitation orders have been issued establishing what in regulations governing the composition or form of such diverse effect are priorities under such emergency conditions. Freight carloadings were down somewhat in February, aver-. products as men's and boys' suits, telephone equipment, and aging about 780,000 cars weekly. On a daily average basis livesteel alloys. stock and grain loadings experienced the greatest percentage Certain steel alloys are especially important in modern warfare decline from January—approximately 20 and 12 percent respecand these are more short relative to requirements than are steel tively. Coal loadings continued to decrease slightly from the ingots. Output of the latter remains relatively stable, the sizable volumes in the final months of 1941. However, the February level having been up somewhat from January, but movement of industrial commodities showed some increase. USINESS activity continues to move forward in the aggreB gate, the accelerated conversion of civilian industry to military purposes notwithstanding. Industrial production advanced SELECTED BUSINESS INDICATORS (PERCENT OF CAPACITY) 140 (BILLIONS OF KILOWATT HOURS) (THOUSANDS OF CARS) BITUMINOUS COAL PRODUCTION MISCELLANEOUS CARLOADINGS (DAILY AVERAGE-THOUSANDS OF TONS) (THOUSANDS OF CARS) 4 5 120 4.0 100 35 80 30 60 25 40 2 0 CRUDE OIL RUNS - T O - STILLS 50 FREIGHT- CARLOADINGS ELECTRIC POWER PRODUCTION STEEL INGOT PRODUCTION (MILLIONS OF BARRELS- DAILY AVERAGE) 2500 1942 45 2000 40 1500 35 1000 30 500 1 r rf _ J94Q 1941 , 0 1 , , 1 . . COMMERCIAL LOANS R H . A . HOME MORTGAGES (BILLiONS OF OOLLARS) (NUMBER SELECTED FOR APPRAISAL ON HOMES TO BE BUILT) WEEKLY WHOLESALE (1926*100) PRICES 7 6 5 4 DEPARTMENT STORE SALES 140 PRICES OF 3 5 4 INDUSTRIAL STOCKS (1935-39 -100) (SEASONALLY ADJUSTED 1923-25-100) MONTHLY , MO DATA 130 Av I\A 120 no 100 100 90 , , t , , 1 , , i . , 1939 446797—42 ., i , . i , , i . , 1941 . . ! . . 1 . , 1 , . 1939 1940 1941 1942 WEEKLY BUSINESS INDICATORS* u u i ^ w u , data u o t a beginning January J a n u a r y 1939 1939 for most of the series on a 1935-39 base b»o& and QUU 1939 i m g and u u ^OTU j. um. Times * ±u^a i^n. [Weekly average, 1935-39=100, except as indicated; 1940 uuut data mi for vuu the nu.» New York index of business activity, also data beginning Septen " 1939 for _ . the , index ,_., of 23 basic ... commodities, . ^ ,_ ,in, ,table , _ „ „32, Opp. 24-26 „„ of. .the , November „ ^__._«c. _, L ng September price are shown 1941 SURVEY] 1941 1943 1940 Business activity:! New York Times§ Barron's, 1923-25=100-.^ Business Week§, 1923-25=100. Commodity prices, wholesale: Dept. of Labor:... Combined index, 1926=100. Farm products Food All other..„ _ 28 basic commodities© Fisher's index, 1926=100: Combined index. _„ Copper, electrolytic*Cotton, average, 10 markets!-._ Construction contracts! Distribution: Carloadings ...___ Department store sales 136.7 133.7 134.9 136.6 121.7 123.0 100.1 101.4 143.5 141.8 142.1 142.8 129.3 131.0 104.0 106.2 173.4 171.9 170.1 169.9 149.6 149.0 107.9 110.3 96.8 102.0 95.5 ... 95.0 165.7165.' 96.5 96.2 95.7 80.6 101.9 100.7 100.1 70.5 94.8 94.0 93.7 73.4 94.8 94.9 94.5 84.8 165.2 165.: 165.3 124.9 80.5 78.3 78.4 68.8 70.4 70.5 73.1 84.7 83.1 83.2 123. 116.4 116.4 102.4 85.9 86.0 84.! 84.4 112.9 112.9 112.9 112.9 112.9 112.9 112.9 108.1 108.1 177. 177. 6 177.8176.6 175.4 94.6 94.1 99.0 99.8 103.4 103.1 103.1102.6 146.6 127.2 119.8 118.8 120.0120.2 113.8 116.0 95.: 97.3 97 101 119 110 116 114 95 98 1940 1941 1943 Mar. Feb. Feb. Feb. Feb. Mar. Mar, Mar. Mar. 2 8 1 7 28 21 14 7 Mar. Feb. Feb. Feb. Feb, Mar. Mar, Mar. Mar. 9 2 7 28 21 14 7 1 Employment, Detroit, factory, 1923-25=100 Finance:Bond yields! Stock prices! Banking: Debits, outside N. Y. C.l____ Federal Reserve reporting member banks: Loans, total .... Currency in circulation! Failures, commercial, 1939=100. Production^ Automobiles i Bituminous coal! Electric power Petroleum! Steel© 122.1 102.5 109.9 83.2 83.2 83.0 82.7 82.7 83.7 84.2 66.8 67.9 67.7 68.9 71.0 80.4 80.9 99.8 99.1 160.7158/3 143.8 130.1 150.1 134.2 132.7 111.6 114.2 132.8 133.0 132.7 132.2 131.2 112.0 110.8 100.3 99.5 00 181.6 180.3 179,0 178.4 177.2 138.9 138.0 ^ 118.0 1180 117.6 95.4 92.9 76.0 84.5 74.2 85.2 85.2107.8 143.3 160.1 126.8 185.0 183.2 33.2 141.1 1G0.7 128.8 183.1 48.1 163.2164.0 134.2130.7 38.7 139.9 160.7 128.8 181.7 138.0 163.1 137.0 180.8 138.9 141.1 114.8 176.3 139.3 104.8| 104.8; 112.9 140.5119.9,120.6 114.:. 7 120.9,120.0 174.1 113.0,115.2 •Data do not cover calendar weeks in all cases. ^Seasonally adjusted. JDaily average. ©Index for week ended Mar. 14, is 185.3. SFor New York Times index, computed normal=100; this and the Business Week index have been revised beginning January 1941 to take account of changing conditions resulting from the defense program; the revised series were first published, respectively, in the Weekly for Jan. 15,1942 and Nov. 6,1941. The Times Index has been further revised for 1942 to exclude cotton-mill activity, the basic data for which have been discontinued; for revised data for all weeks of January, see issue of Feb. 26. ©Thursday prices; August 1939= 100. f Index of cotton manufacturing heretofore shown in the Weekly Supplement has been discontinued by the compiling source. WEEKLY BUSINESS STATISTICS • 1941 1943 Mar. 7 " COMMODITY PRICES, WHOLESALE Copper, electrolytic, New York! dol. perlb.. Cotton, middling, H V average, 10 markets!!. do.... Food index (Dun <fc Bradstreet) do Iron and steel, composite dol. per tonWheat, No. 2, Hard Winter (Kansas City).dol, per bu_. FINANCE Banking: Debits, New York City mil. of doL. Debits, outside New York City (140 cities) do.... Federal Reserve banks: Federal Reserve bank credit, total do.... tf. 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 TJ. S. Government direct obligations do Obligations guaranteed by U. S. Govt do Loans, total _ do Commerc'l, indust'I, and agricult'l loans...do Interest rates, call loans % percent.. Interest rates, time loans! do.... Currency in circulation! mil. of dol.. Exchange rates: Pound sterling! , dollarsFailures, commercial number.. Security markets: Bond sales (N. Y. S. E.) thous. of dol. par valueBond yields (Moody's) (120 bonds)! percent.. Stock sales (JV. F. S. E.) -thous. of shares., Stock prices (JV. Y. Times)% -dol. per share-. Stock prices (Stand, and Poor's) (402) 11935-39*-100.. Industrials (354) do.... Public utilities (28) do.... Railroads (20).__ do.... PRODUCTION, CONSTRUCTION, AND DISTRIBUTION Production: Automobiles (Ward's) number.. Bituminous coal! thous. of short tons.. Electric powerA mil. of kw-hr. Petroleum! _ * thous. of bbL. Steele ...pet. of capacityConstruction contract awards! thous. of dol. Distribution: Freight carloadings, total cars.. Coal and coke _ _ do.— Forest products .do.... Grains and grain products .do Livestock ._ _ .do,... Merchandise, 1. c. 1 do,— Ore.... do.... Miscellaneous do..-. Receipts: Cattle and calvesf thousands.. Hogst do.... Wheat at primary markets thous. of bu_. Mar. 8 1939 1940 Mar. 1 Feb. 21 0.118 .193 3.67 38.15 1.22 0.118 .193 3.56 38.15 1.24 0.118 .193 3.55 38.15 1.24 0.118 .192 3.53 38.15 1.22 0.118 .191 3.51 38.15 1.23 0.118 .103 2.59 38.26 .81 0.118 .102 2.55 38.23 .80 0.113 .108 2.32 36.83 1.00 0.113 .109 2.30 36.83 1.00 0.110 0.110 2.34 36.39 2.33 36.38 3,989 6,732 3,449 5,527 3,607 6,024 3,134 5,448 4,116 6,286 3,866 5,620 3,444 4,631 3,552 4,675 2,673 3,983 3,755 3,896 3,548 4,501 2,402 2,262 12,835 3,208 2,392 2,262 12,521 2,887 2,404 2,250 13,058 3,460 2,331 2,243 12,905 3,357 2,316 2,243 12,849 3,326 2,237 2,184 14,136 6,435 2,223 2,184 14,175 6,542 2,515 2,477 12,367 5,733 2,537 2,477 12,318 5,687 2,565 2,564 3,407 2,564 8,942 3,382 24,815 5,188 19,544 13,151 2,723 11,374 6,902 1.00 1.25 11,525 •4,035 263 24,712 5,188 19,551 13,132 2,723 11,392 6,902 1.00 1.25 11,443 •4.035 215 24,961 5,191 19,163 12,730 2,719 11,3G9 1.00 1.25 11,355 "4.035 239 24,731 5,197 19,130 12,717 2,716 11,322 6,862 1.00 1.25 11,317 •4.035 210 24,457 5,214 19,114 12,721 2,710 11,241 6,785 1.00 1.25 •11,241 •4.035 241 23,362 5,470 17,076 10,458 2,774 9,592 5,287 1.00 1.25 8,814 •4.032 241 23,431 5,454 16,955 10,334 2,766 9,495 5,227 1.00 1.25 8,755 •4.031 19,341 5,303 14,764 8,900 2,400 8,591 4,355 1.00 1.25 7,487 3.903 280 19,414 5,290 14,740 8,851 2,421 8,528 4,324 1.00 1.25 7,459 3.940 270 16,086 5,224 13,450 8,176 2,030 8,338 3,773 1.00 1.25 6,755 4.690 286 15,965 5,202 13,408 8,143 2,019 8,186 3,773 1.00 1.25 6,752 4.688 254 48,300 3.37 2,473 72.31 49,310 3.36 1,994 73.28 68.5 69.5 64.1 67.4 33,660 3.35 1,946 74.58 69.6 71.0 64.0 67.0 38,510 3.35 2,301 76.83 72.6 74.0 66.0 71.1 37,680 3.39 1,913 87.06 79.2 78.4 86.6 69.5 35,510 3.41 1,947 87.52 80.0 79.4 86.7 70,0 33,840 3.60 3,653 108.02 96.9 97.6 101.3 77.7 28,190 3.61 67.9 36,940 3.37 1,684 73.54 68.5 69.4 64.0 68.2 51,220 3.73 5,561 105.94 100.3 101.0 103.2 84.1 43,850 3.78 4,641 103.83 97.8 98.4 101.1 80.6 97.2 1,862 3,410 4,016 96.3 25,645 1,833 3,424 4,077 96.2 29,830 1,817 3,422 4,079 95.5 37,125 1,793 3,475 4,337 95.0 125,915 1,804 3,005 3,633 97.5 126,550 1,810 2,993 3,632 96.3 14,083 103,560 1,362 2,553 3,829 64.6 100,855 1,466 2,568 3,798 65.9 11,963 84,095 1,358 2,285 3,353 55.1 781,419 176,955 45,328 37,351 10,470 143,542 12,853 354,920 774,595 173,166 44,976 36,103 9,947 150,030 13,039 347,334 782,699 168,827 47,603 38,745 11,197 151,515 12,920 351,892 784,060 167,115 47,146 41,315 10,414 151,718 13,405 352,947 741,922 173,055 38,375 31,113 9,914 158,910 12,602 317,953 756,670 174,551 40,743 34,058 10.506 159,365 12,182 325,265 620,596 132,248 31,564 30,548 10,972 149,289 10,402 255,573 634,636 140,530 32,269 35,323 11,131 149,550 10.0S2 588,426 121,963 25,951 31,211 10,175 255,751 152,408 7,527 239,191 594,424 132,441 24,428 32,341 9,636 153,403 8,979 233,196 210 310 3,800 192 278 4,006 211 320 4,169 186 319 157 276 2,406 174 287 2,040 162 307 5,476 168 343 5,464 3,083 2,820 4,320 Feb. 14 Feb. 7 Feb. 28 13,786 Mar. 9 Mar. 2 3,015 107.25 96.2 96.5 102.3 76.4 Mar. 11 JDaily average. »Data do cot cover calendar weeks In all cases. -Free rate. 1 Revised series. See table 32, pp. 24-26 of the November 1941 SURVEY for stock prices beginning January 1939 and cotton prices beginning August 1939. e R a t e for week ended Mar. 14 is 97.4; data for 1942 are based on estimated capacity as of Dec. 31, 1941, of 83,570,000 ton3 of steel ingots and steel for castings. tComparable data are not available prior to 1940 because of a change in the markets included in the data beginning with that year. A1941 data are shown on a revised basis beginning with the Jan. 15,1942 issue; 1941 and earlier revisions not published are available on request. Mar. 4 78,705 1,430 • 2,294 3,315 55.8 11,376 MONTHLY BUSINESS STATISTICS 1943 Earlier data are aTailable in monthly issues of the Survey and the 1940 Supplement February 1941 1943 Febru- Decem- January ber ary 145 135 150 147 98 121 175 161 133 103 90 SO 118 80 81 130 156 143 153 138 148 98 112 160 162 154 149 147 143 148 102 119 166 204 '169 48,802 6,161 32,567 4,152 197 245 165 213 197 222 183 198 194 166 283 190 111 140 126 115 128 127 107 91 115 '108 '122 99 120 '112 122 MOO ••122 '104 »79 '145 '110 '138 '158 '152 '149 161 '152 '132 110 '138 DOMESTIC TRADE Receipts, postal: 50 selected cities.thous. of dol. 60 industrial cities. do..., Department stores* Sales, total U. S., unadjusted.. 1923-25-100. Atlantaf— -1935-39=* 100. Boston 1923-25=100. Chicaso ___.1935-39=100. Cleveland _... 1923-25= 100D alias .do Kansas City 1925=100MinneapoUst 1935-39^100. New York 1923-25-100. Philadelphia do... Richmond do— St. Louis._ do— Sales, total U. S., adjusted.f do... Atlantat 1935-39=100. Chicaeot do . . 1923-25=100. do 1935-39=100. —.1923-25=100. ...do... ..do.— FINANCE February 1941 February 1913 Decem- January ber FINANCE—Continued COMMODITY PRICES Prices received by farmers: U. S. Department of Agriculture: Combined index. 1909-14=100Chickens and eggs do Cotton and cottonseed do Dairy products. _ do Fruits, _ — -doGrains __ _ do. Meat animate do Truck crops do Miscellaneous do Cleveland Dallas Minneapolis f New York Philadelphia St. Louis 1943 Earlier data are arailable in monthly issues of the Survey and the 1940 Supplement 30,534 3,919 ' 3,779 no * 114 *103 *109 »87 »95 »93 »83 M27 M36 > 136 *>132 *>129 » 133 » 115 *109 » 115 63 94 84 100 76 79 79 63 94 81 103 127 112 107 118 111 97 82 91 Security'markets—Continued. Stocks: Cash dividend payments and rates (Moody's): Total annual payments at current rates (600 companies^ _ mil of dol . 857.45 Number of shares, adjusted millions.. 938.08 Dividend rate per share (weighted averL98 ace) (600 companies) dollars.. Bauks (21 companies) do 2.88 Industrials (492 companies) do 1.99 Insurance (21 companies).. do 2.69 Public utilities (30 companies)...do 1.81 Rails (36 companies). „ do. 1.77 Prices. Dow-Jones & Co., Inc. (65 stocks) dol. per share,. 36.79 Industrials (30 stocks) d o . . . . 107.28 13 83 Public utilities (15 stocks) do.... Rails (20 stocks) do—. 27.85 74.46 New York Times (50 stocks)....do.... Industrials (25 stocks) . . . d o . . . . 128.67 20.26 Railroads (25 stocks) do YieldsCommon stocks (200), Moody's...percent . 7.1 5 6 Banks (15 stocks) do 7 2 Industrials (125 stocks) do 4 6 Insurance (in stocks). __do 7.7 Public utilities (25 stocks) .do.... 7.4 Rails (25 stocks) do.... TEANSPOKTATION Freight-car loadings (A. A. R.): 1 Total ears.. ..thousands.. 3,123 Coal do 629 57 Coke... do 185 Forest products do.... 154 Grains and grain products do 42 Livestock do 597 Merchandise, 1. c. 1 .do 52 Ore .do Miscellaneous do—... 1,407 59 Freight-car surplus, total do— 22 Boxcars do 20 Coal cars do.... FOODSTUFFS Grains and grain products: Corn: Receipts, principal markets..thous. of bu.. 30,357 15,849 Shipments, principal markets do Oats: Receipts, principal markets do— 5,670 Wheat: 9,155 Shipments, principal markets .do—, FUELS AND.BYPRODUCTS Coal production: 4,739 Anthracite thous. of short tons. Bituminous. ..do 43,840 LEATHER AND PRODUCTS Hides and skins: Livestock (federally inspected slaughter): 392 Calves thous. of animals. 891 Cattle ...do3,892 Hogs do— 1,407 Sheep and lambs do—. METALS AND MANUFACTURES Zinc: Production, slab, at primary smelters 73,476 short tons. 74,775 Shipments, total. do— 59,957 Domestic do— Stocks, refinery, end of month do.... 22,626 796.56 938.08 927.69 926.59 1.92 3 01 1.90 2.54 1.94 1.53 2 05 2 88 2.09 2.69 1.81 1.77 2.05 2 88 2.09 2 69 1.81 1.77 41.21 121 68 19 37 27.54 87.07 154 20 19.94 36.92 110.67 14.38 25.33 79 17 139.86 18.47 37.86 111.11 •14.41 28.01 77 09 133 77 20.41 6.0 4.5 62 4.3 61 6.2 7.3 5.4 7.3 4.5 7.6 8.2 7.2 5.3 7.4 4.5 7.6 7.2 '2,867 '614 '57 '155 '119 41 '605 51 '1,225 87 32 31 3,046 575 54 153 155 53 682 77 1,3 3,858 797 71 208 212 65 711 65 1,729 60 22 22 Federal Reserve banks, condition, end of mo.: Assets, total mil. of doL. 24,322 23,528 24,353 24,288 2,412 2,369 2,361 2,265 Res. bank credit outstanding, total..do 2,262 2,243 2,254 2,184 United States securities do 20,846 Reserves, total do 20,366 20,764 20,902 20,515 Gold certificates do— 20,031 20,504 20,533 Liabilities, total d o — 24,322 23,528 24,353 29,494 14,441 28,107 14,715 Deposits, total do... 16,351 14,678 12,619 16,280 7,091 12,927 13,193 Member bank reserve balances....do— 14,203 12,450 3,347 2,969 3,035 Excess reserves (estimated) do— 6,534 8,519 8,303 8,559 3,050 8,192 Federal Reserve notes in circulation.do._.. 7,947 6,022 90.8 90.6 90.8 Reserve ratio percent91.0 10,471 14,579 8,085 Monetary statistics: Foreign exchange rates: .298 Argentina dol. per paper peso. .061 .061 .061 .061 Brazil, official dol. per milreis. 4,532 4,432 .301 .301 .301 .301 British India doh per rupee. 4,118 .874 .884 .878 .848 Canada.-dol. per Canadian dol.. 41,695 46,667 48,540 .570 .570 .570 .571 Colombia _ dol. per peso .206 .206 .206 .205 Mexico.. do 4 035 4.035 4.034 United Kingdom. dol. per£_. 4.035 Gold, monetary stock, U. S mil. of dol. 22,704 22 232 22,737 227747 440 457 384 11,175 Currency in circulation, total .do... 8.781 11,160 11,484 1,057 1,004 717 Public finance (Federal): 5,831 5,767 3,725 46,117 57,938 60,012 Debt, gross, end of month do... 62,381 1,611 1,391 1,571 Public issuas: 40,028 52,468 Interest bearing— do 54,705 554 481 Noninterest bearing ..do 487 Special issues to Government agencies and 7,063 6,082 7,190 5,534 trust funds mil. of dol— 61,603 ' 78.643 • 79,276 Obligations fully guaranteed by U. S. Govt.: 65,818 '77,763 79,413 6,314 5,673 5,901 5,673 Tolal amount outstanding mil. of dol._ 57,663 '65,698 67,248 Expenditurep, totalf.._ thous. of dol.. 2,629,839 1,077,438 2,557,103 2,630,968 10,644 24,062 23,925 National defense* d o — 2,201,081 584,040 1,846,555 2,100,754 90,930 87,106 112,840 106,251 Agricultural adjustment program*..do 137,740 92,262 93,564 Unemployment relief * — do 114,805 9,360 28.625 41,540 Transfers to trust accountsf do 8,750 1941 1942 12,136 20,507 232,446 31,737 Interest on debt* do. Earlier data are available in monthly issues of 2,122 15,553 1,070 Debt retirements do. 3,270 the Surrey and the 1940 Supplement All other* _.do. 217,000 217,299 226,154 253,851 Janu- Janu- Novem- Decem937,281 614,084 673,690 1,214,417 ary ber ber ary Receipts, total— do. 541,352 757,976 577,647 1,212,303 Receipts, net* do 27,284 31,630 32,926 35,187 Customs ..do 879,417 502,046 1,159,387 555,031 BUSINESS INDEXES Internal revenue, total ...do 282,506 104,408 767,098 133,469 Income taxest do 193,379 41,376 52,576 Manufacturers' orders, shipments, and inven256,955 Social security taxes ..do tories:* Security markets: '232 176 212 New orders, totals Jan. 1939=100— r246 Bonds: '332 »373 246 265 Durable goods do. Price, U. S. Treas. bondsf '396 »380 257 110.1 314 108.8 108.9 Electrical machinery do. 110.7 dol. per $100 bond— '248 r245 25fi 225 Iron and steel and then* products do. Yields: '367 238 326 Other machinery d o — j>447 Moody's: '413 »5S6 231 258 3.40 3.35 3.35 Other durable gooods do 3.35 Domestic corporate percent'167 6 132 178 Nondurable goods do— By ratings: '207 148 203 2.83 2.80 2.78 Shipments, total do. 2.85 Aaa do. '252 175 242 2.95 3.00 2.96 J>238 2.98 Durable goods doAa do. ''155 155 169 »135 3.27 3.38 3.30 Automobiles and equipment d o — 3.29 A do. '307 181 272 4.38 4.42 Electrical machinery d o — »279 4.29 4.29 Baa do. '257 190 246 By groups: Iron and steel and their products_...do— »242 2.94 2.97 3.00 Industrials.. do Transportation equipment (except auto2.98 '881 714 3.12 3.13 3.19 mobiles) Jan. 1939=100.. 3.15 Public utilities do— '317 181 291 3.93 3.99 Other machinery do 4.00 3.94 Rails do '222 224 163 2.01 1.97 Other durable goods do 2.10 2.09 U. S. Treasury bondsf do — t Revised series. See note on corresponding item In the February 1942 Survey. * Revised. * Preliminary. • Data not available. ? Data for January 1942 aro for 5 weeks: other months, 4 weeks. * New series. See note on corresponding Item in the February 1942 Survey. ft. MONTHLY BUSINESS STATISTICS—Continued Earlier data are available in monthly issues of the Survey and the 1940 Supplement BUSINESS INDEXES-Continued Manufacturers' orders, shipments, and inventories*—Continued. Shipments—Continued. Nondurable goods Jan. 1939=100. Chemicals and allied products do... Food and kindred products -do,.. Paper and allied products do Petroleum refining do Rubber products do__. Textile-mill products do... Other nondurable goods do... Inventories, total average month 1939=100. Durable goods do... Automobiles and equipment do... Electrical machinery.. do... Iron and steel and their products do Transportation equipment (except automobiles) average month 1939=100.. Other machinery... ._ ..do Other durable goods .do Nondurable goods do Chemicals and allied products do Food and kindred products do Paper and allied products -do Petroleum refining .do. Textile-mill products do Other nondurable goods do 1042 1941 January Janu- Novem- Decemary ber ber j-196 *1 (a) *205 M49 P 162.0 »178.4 v 190.6 P244.7 p 126. 7 () v 187.1 p 140. 7 p 147.8 »152.0 M61.3 v 134.0 v 113.1 p 150.9 p 146.7 124 142 114 142 110 158 140 114 121.8 132.5 144.6 148.0 12G.4 168 176 158 202 158 194 191 149 152.7 170.3 193.3 231.6 127.8 154 rl93 -204 ••143 *• 158.5 •'175.8 r 193.3 T 238.5 ' 129. 2 306.0 129.8 110.3 112.5 117.2 111.0 119.7 101.6 118.4 108.7 618.2 173.3 130.9 137.4 132.0 153.4 132.0 111.9 143.5 134.1 ' 659. 7 * 180.0 '136.4 ' 143.4 ' 143. 7 'r 162. 0 135.1 r 113.2 r 147.3 ' 138.7 '168 M71 160 rl91 CONSTRUCTION AND REAL ESTATE Estimated new mortgage loans by all savings and loan associations, total... thous. of dol.. Classified according to purpose: Mortgage loans on homes: Construction do.. Home purchase do... Refinancing .... . do... Repairs and reconditioning do... Loans for all other purposes do... Classified according to type of association: Federal thous. of dol. State members do... Nonmembers •„ 1 do_. 80,440 104,749 100,208 22, 791 26,662 30,103 34,127 27,809 48,816 12,854 13,645 13,340 3,190 3,784 4,267 6,571 8,540 8,223 30,290 43,145 14,424 4,170 8,179 31,142 34,360 41,910 35,312 33,947 46,890 13,079 12,133 15,949 41,182 43,960 15,066 79,533 EMPLOYMENT Labor conditions: Labor turn-over in mfg. establishments: Accession rate mo. rate per 100 employees.. Separation rate, total .do... Discharges do... Lay-offs. .do... Quits and miscellaneous do... 6.87 5.10 .30 1.61 3.21 5.54 3.41 .18 1.61 1.62 3.91 3.56 -24 1.47 1.85 4.76 4.71 .29 2.15 2.27 FINANCE Security markets: Bonds: , Sales (Securities and Exchange Commission): Total on all registered exchanges: Market value. -thous. of dol_. Face value do On New York Stock Exchange: Market value ..thous. of dol.Face value do Stocks: Sales (Securities and Exchange Commission): Total on all registered exchanges: Market v?lue -thous. of dol_. Shares sold ...thousands.. On New York Stock Exchange: Market value -thous. of dol.. Shares sold thousands.. 125,744 L47.635 88,348 134,712 256,089 276,042 .61,048 277,038 11,586 125,090 237,263 J48,732 76,382 116,561 45,446 251,650 112,503 113,194 509,042 28,359 26,545 26,636 ,085,589 62,670 166,932 519,360 422,423 929,046 22,235 20,064 19,099 46,891 TRANSPORTATION Financial operations (Class I steam railways): Operating revenues, total.. thous. of dol__ Freight,.... do. Passenger do. Operating expenses do. Net railway operating income do. ISO, 691 377,374 157,012 479,560 392,571 309,580 SS5,211 389,223 55,697 40,159 40,519 53,868 318,781 268,972 335,614 352,532 68,966 62,017 68,765 SO, 549 CHEMICALS AND ALLIED PRODUCTS Vegetable oils and products: Oleomargarine: Consumption (tax-pd. withd'ls).thous. of lb_. 35,848 33,841 35,071 34,030 Production _ do Paint sales: Calcimines, plastic and cold-water paints: 208 100 Calcimines -thous. of dol.. 47 Plastic paints _ do 35 Cold-water paints: 185 In dry form _ do 146 In paste fornu._ do 294 428 Cellulose plastic products: Nitro*cellulose, sheets, rods, and tubes: Consumption thous. of lb 272 185 Production do 1,618 1,167 1,755 1,112 Shipments—do 32,147 32,503 33,754 34,638 161 40 217 47 210 278 175 496 1,483 1,569 269 1,485 1,658 *• Revised. * Preliminary. • Not available. * New series. See note on corresponding item in the February 1942 Survey. t Revised series. See note on corresponding item in the Fe bruary 1942 Survey. Earlier data are available in monthly issues of the Survey and the 1940 Supplement CHEMICALS AND ALLIED PRODUCTS— Continued Cellulose plastic products—Continued. Cellulose-acetate, sheets, rods, and tubes: Consumption thous. of lb_. Production.. do. Shipments do. Moulding composition: Production. do. Shipments do. FUELS AND BYPRODUCTS Coal: Bituminous: Industrial consumption total thous. of short tons. Beehive coke ovens do... Byproduct coke oven3 do... Cement mills -. do Coal-gas retorts do... Electric power utilities do... Railways (class I) ..do ., Steel and rolling mills do.... Other industrial ,_„ do_ Stocks, Industrial and retail dealers, end of month, total thous. of short tons. Industrial. _ _ do.... Byproduct coke ovens.... do... Cement mills... do.... Coal-gas retorts. do... Electric power utilities _.-do.._ Railways (class I) do... Steel and rollinc mills do... Other industrial do... Coke: Production: Beehive do.... Byproduct _"_ do Stocks, end of month: Byproduct plants, total do At furnace plants do.... At merchant plants do... 1941 January 24 585 528 3,789 3,597 38,474 1,016 7,412 548 172 5,918 1,019 12,700 Janu- Novem- Decemary ber ber 7 617 675 1,632 1,584 22 55S 609 23 501 534 2,979 2,777 3,397 3,165 33,588 34.555 "•37,192 1,021 817 t 835 7,352 7,061 6,848 628 588 407 149 143 152 4,782 5,532 r 5,892 9,226 8.176 8,747 984 1,043 • 912 11,150 10,910 11,980 9,482 959 18,370 48,702 42,102 9,887 408 258 11,119 6,235 935 13,260 61,763 52,013 8,326 714 372 12,427 9,726 908 19,540 62,737 53,397 8,901 705 367 12,821 10,2ii5 968 19,400 647 5,229 514 4,933 532 650 5,186 1,510 818 692 1,597 732 865 42,781 72,360 50,557 51,259 17,212 89,748 45,615 80,705 82,928 39,224 52,605 93,966 58,810 60,248 16,411 41,343 80,844 55,855 54.465 1^785 2,935 1,048 2,210 994 3,755 1,310 1,929 997 5,170 511 446 700 118.2 133 895 81.7 4,863 519 409 431 82.6 15f> 1,122 101.0 4,909 456 415 564 122.8 135 945 87.5 5,144 490 484 629 132.6 144 889 80.1 101 138 403 317 407 95 153 363 209 409 101 140 381 323 396 106 135 369 367 398 790,314 869,526 845,585 355,713 299,429 225,486 135,873 48,304 181,415 160,811 383,678 328,623 256,464 142,832 58,084 171,300 375,525 326,700 250,123 144,123 53,737 166,200 58,015 50,285 7,824 653 337 12,660 1,708 832 876 METALS AND MANUFACTURES Pig iron and iron manufactures: Boilers, range, galvanized: Orders, new, net number of boilers-. Orders, unfilled, end of month.. do... Production. _ _ do... Shipments. ..do... Stocks, end of month do..., Steel, manufactured products: Boilers, steel, new orders: Area thous.of sq. ft.. Quantity number.. Steel products,.production for sale:t Total ...thous. of short tons.. Merchant bars.. do Pipe and tube. . do Plates __ do:... Percent of capacity*. Rails thous. of short tons.. Sheets, total do Percent of capacity . Strip: Cold rolled thous. of short tons.. Hot rolled do.... Structural shapes, heavy _ do. . Tin plate __ do.... Wire and wire products.. _ do PAPER AND PRINTING Wood pulp: Production: Total, all grades Chemicals: Sulphate, total Unbleached Sulphite, total Bleached Soda Ground wood.. Stocks, end of month: Total, all grades Chemical: Sulphate, total Unbleached. Sulphite, total Bleached Soda Groundwood.. ' .short tons.. __ ..do ...do do.. do.. .do.. do.. 403,435 347,383 274,475 156,195 do.. 197,500 98,500 94,800 16,500 11,000 39.000 22.500 (°) 58,600 48,400 42,400 80,100 47,200 8,200 60,800 14,800 0,900 38,000 20,900 3,600 42,100 14,000 9,600 27,800 17,400 3,700 49,300 Automobile production: Canada, total „ ..number.. 21,751 ; Passenger* cars . do.". 4,249 United States (factory sales), total.. do.. 238,261 Passenger cars „ do.. 147,858 • Trucks..,. : .do.. 90,403 23,195 11,990 500,878 111,233 89,645 _ _ _ _ _ do.. do.. do.. .do.. do.. do.. TRANSPORTATION EQUIPMENT 21,545 20,313 7,003 6,651 352,347 282,205 256,101 174,962 96,246 107,243
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