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SURVEY OF CURRENT BUSINESS WEEKLY SUPPLEMENT UNITED STATES DEPARTMENT OF COMMERCE OFFICE OF BUSINESS ECONOMICS Avoilobie only with subscription to the monthly mogozine SURVEY OF CURRENT BUSINESS SELECTED MARCH 14 0952 BUSINESS INDICATORS BILLIONS OF K I L O W A T T - H O U R S 1935- 1939 * 100 300 9.0 250 8.0 200 7.0 ELECTRIC - POWER PRODUCTION By UTILITIES STEEL PRODUCTION (Ingots and Steel for Castings) • i960 N 150 6.0 too 5.0 JAN. FEB. ~ MAR. A P R . MAY JUNE JULY AUG. SEPT. OCT. NOV SEASONALLY ADJUSTED, 1947-49 = 100 160 BILLIONS OF DOLLARS, SEASONALLY ADJUSTED, AT ANNUAL RATES * 300 DEPARTMENT - STORE SALES and STOCKS 250 140 200 120 150 80 100 1949 1950 I95i 1952 WEEKLY 1952 1950 1949 1 BUSSNESS STATISTICS ITEll 1952 1951 Mar. 3 Mar. 10 Feb. 9 Feb. 16 Feb. 23 Mar. 1 Mar0 8 111.8 106.4 112.3 112.9 310.4 o398 2.50 240 • 111.7 106.3 112.5 112.7 307o4 .402 2.48 245 111.4 106.2 111.7 112.4 305.5 .399 2.48 28,493 23,883 19,787 564 Commodity prices, wholesale (revised series): *l!6o5 *117 06 All other. e*.«««««. •••»••••««• ..««•«. «••*«••«•.•• ..do..». Cotton, middling, 15/16", 10 markets %/ dol. per lb.. Wheat, No. 2, hard winter (Kansas City) ^....dol. per bu. . Department store sales ...... «..«.... 1935-39=100.. Insured unemployment, total « Othous. . 388.3 iJ 2.40 288 1,028 985 Finance: Orrrfincy 1n cir^"T at5 on 3/. 0 • . . • « »«*••«••••*• »mil. of* d<"»l« 27,214 . 23,188 Member bank reserve balances » » * o o •«*•••• ••*••« o ..... .do . « • .19,066 700 Federal Reserve reporting member banks in leading cities: 24,720 Bank debits, total * .....mil. of del.. 9,169 50,649 69,501 30,791 Commercial, industrial, and agr. loans (gross )...do.... 18,733 170 2.88 Bond yields, domestic corporate (Moody1 s) %/• percent.. Stock prices, 416 stocks (standard and Poor's).. 1935-39=100.. 173.7 188.1 Production: 1,894 6,822 167,055 Petroleum, crude £/ thous. of bbl.. 5,934 223o5 786 402 *n?.n *H7.3 382.9 .451 2.41 303 975 935 317.7 .415 2,50 251 1,350 1,307 315oO .399 2.49 257 1,327 1,284 27,235 23,226 19,004 716 28,406 23,656 20,3^8 702 28,415 23,753 20,094 777 28,395 23,887 20,007 696 28,428 23,750 19,710 458 28,516 11,792 50,577 69,290 30,606 18,689 153 2.91 173.9 188.3 29,208 12,183 53,503 73,751 32,356 21,110 134 3.18 186.9 203.8 22,818 8,362 53,090 73,678 32,185 21,144 125 3.18 18600 202 o4 30,962 12,736 52,557 73,504 31,973 21,148 177 3.18 179.6 194.8 24,342 9,487 52,683 73,526 31,892 21,157 163 3ol8 180o4 195 o 5 1,680 6,795 170,044 5,964 226.2 750 392 1,764 7,456 95,410 6,265 234.1 734 369 1,766 7,440 105,480 6,259 232.9 738 376i 1,703 7,461 104,393 6,267 234-1 683 350 1,715 7,416 111,360 6,267 234.8 756 390 I/ Data do not always cover calendar weeks. £/ Thursday prices. JJ/ Daily averages. L/ No quotation. * Monthly index for March 1951. 11,044 170 3.19 184.7 200 o 7 109,087 235.7 5/ Week ending March 15, 236.9. MONTHLY BUSINESS STATISTICS Earlier data are available in monthly issues of the Survey and the 1951 Statistical Supplement 1951 January February 1952 November December January February GENERAL BUSINESS INDICATORS Personal income, seasonally adjusted, at annual rates: Total personal income. . bil. of dol. Wage and salary disbursements, total do... Commodity-producing industries .do... Distributive industries.., do... Service industries do,.. Government.. , <• do... Wage and salary receipts, total do... Other labor income do... Proprietors' and rental income do... Personal, interest Income and dividends do... Total transfer payments do... Less personal contributions for social insurance....do... Total nonagricultural income , do... 222.9 256.5 174.3 75.1 46.1 20.5 32.6 170.7 3.9 49.1 20.2 12.6 3.6 234.8 r258.6 r!75.4 r76.8 r46.5 r20.7 31.4 r!71.9 3.9 r49.8 r20.7 12.3 r3.5 r235.9 202.4 204.9 210.3 210.8 210.6 .mil. of dol.. do.».. do.... do.... do.... do.... 13,593 5,128 S ,465 18,455 8,257 10,198 13,321 5,049 8,272 19,044 8,484 10,560 12,492 4,036 8,456 18,280 8,385 9,S95 12,318 3,918 8,400 rl8,093 r8,2!8 r9,S75 12,642 4,147 8,495 18,121 8,230 9,891 1947-49=100.. do % 125 90 115 134 112 183 109 83 108 thousands.. do.... ...... .do.... do.... , do.... 61,514 59,010 6,018 52,993 2,503 61,313 58,905 5,930 52,976 2,407 63,164 61,336 7,022 54,314 1,828 62,688 61,014 6,378 54,636 1,674 61,780 59,726 6,186 53,540 2,054 61,838 59,752 6,064 53,688 2,086 47,438 * 23,0/51 21,484 21,160 47,738 20,998 18,984 937 23,026 48.1 47,368 23,188 21,881 20,852 47,368 20,704 19,066 700 23,110 47.6 49,046 24,734 23,239 21,166 49,046 20,945 19,670 490 24,680 46.4 49,900 25,009 23,301 21,468 49,900 21,192 20,056 389 25,064 46.4 48,941 23,783 22,729 21,731 48,941 21,004 20,077 634 24,405 47.9 49,323 23,904. 22,528 21,992 49,323 21,336 19,982 p702 24,423 48.1 256,125 253,704 219,712 33,992 2,421 18 22,392 27,048 255,941 253,382 219,44-8 33,933 2,559 18 22,086 27,138 259,604 257,253 221,391 35,862 2,351 43 22,382 28,809 259,419 257,070 221,168 35,902 2,348 42 22,695 29,206 259,775 257,482 221,249 36,233 2,294 38 22,951 v r2S ,386 260,362 253,136 221,776 36,360 2,22.6 37 P23,190 p28,464 64,2% 57,592 64,539 57,881 67,476 60, 5H 67,983 60,919 68,554 61,385 r56,887 37,593 r!4,067 11,865 10,192 r3,010 rlO,323 57,131 37,577 13,916 11,718 10,225 3,005 10,431 59,556 37,759 12,060 9,329 10,703 3,111 11,885 60?350 38,056 11,767 9, 561 10,814 863 13,573 rl,170 r!2,403 2,078 1,286 rl,494 792 13,848 1,1% 12,652 2,089 1,2% 1,529 15,851 1,333 14,512 2,190 1,408 1,497 59,999 . 37,946 11,871 9,657 10,781 3,134 12,160 , 16,027 1,350 14,676 2,193 1,426 1,559 243.6 161.6 71.7 44.3 19.9 25.7 158.0 3.7 50.5 18.8 12.6 3.6 221.4 243.3 163.4 72.4 44.5 19.8 26.7 160.0 3.8 48.2 19.2 12.1 3.4 257.3 175.6 76.5 46.7 20.7 31.7 171.9 3.9 49.6 19.4 12.9 4.1 235.5 C01-2-10DITY PRICES Retail price, U. S. Department of Commerce: All commodities, index... .. .1935-39=100. DOMESTIC TRADE Retail trade, all types of retail stores:. Estimated sales (adjusted), total Durable-goods stores ,...,.,, Nondurable-goods stores Estimated inventories (adjusted), total Durable-goods stores Nondurable-goods stores Department store -sales, United States total: Unadjusted index Adjusted index P83 p!05 EMPLOYMENT Labor force (Bureau of the Census): Civil ian labor force Employed Agricultural employment Nonagricultural. employment Unemployed , FINANCE Federal 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 „... Deposits ,. .do.... Member bank reserve balances...,,............,»*.,do;... Excess reserves (estimated) , do..,. Federal Reserve notes in circulation.........e .do.,,. Reserve ratio, .....,.., ,. .do.,.. Federal Governmanc finance: Gross debt (direct), a.'id of month. ,, do..... Interest bearing, toi.nl,, do..,. Public issues.', ., . .do s Special issues do.... Noninterest bearing.... ....,.,. .do.,.. Obligations guaranteed by U. S. Government .......do.... Gold, monetary stock, United States.... .do.... Currency in circulation. , do„... Life insurance, assets, admitted: All companies (institute of Life Insurance) Total , .do. ... Securities and mortgages ,..., do ,..• 49 companies (Life Insurance Association of Ar.if3.rica): Total do.... Bonds and stocks, book value, total do.... Government (domestic and foreign), total., do.... U. S, Government .do.... Public utility do.... Railroad .do.... Other do..., Cash Mortgage loans, total Farm Other. Policy loans and premium notes Real-estate holdings . Other admitted assets . r/ Revised, jo/ Preliminary. „ ." do. do. do. do. do. do. do. 924 16,185 1,357 14,528 2,199 1,432 1,554 MONTHLY BUSINESS STATISTICS —Continued IS>52 1951 Earlier data are available in monthly issues of the Survey and the 1951 Statistical Supplement January February November December January February FINANCE - Continued Bonds : Average price of all listed bonds (N.Y.S.E.) I/. . . .dollars. . Value, issues listed on New York Mark°t value alii issues Domestic 101.18 101,69 71 .71 Stock Exchange: I/ • • • mil of dol. . do. • ]?QppT orj} do » •• Face value all issues do. Domestic do . • Foreign do» Stocks : Cash dividepd payments publiclv reported do Finano e .* .. *...«....«»...... do • • « • Manufactvrinsr • • • .do. . . • Heat IT ght and power. . * Railroad • Trade .do. » . • do » • • • do .... «»••*.>•««. , 100.90 101 . 38 72.56 97.82 98.30 72.65 97.43 97.92 72.44 98.01 98.49 73.48 116 165 114, 54.1 1,374 114,8r>8 112 643 1 9"i6 115,801 114,163 1,389 114,769 112 605 1,914 97,1^1 95 427 1,339 99,318 97 075 1 843 9^,634 93 9?0 1,3^2 98,158 95,920 1,839 96,269 94, 537 1,349 98,?21 95,985 1,836 4.9-4 1 105.9 174.0 4.0 72.? 49.5 12.8 64.9 1C. 8 214.2 39.5 105.2 1.8 .7 41.5 8.0 15.2 2.3 224.0 43.5 106.1 1.2 .7 49.4 10.9 8.2 4.0 1,805.0 212.6 1,128.9 151.4 36.8 80.9 69.5 80.4 44.5 505.7 107.4 169.6 4.7 83.4 53.2 17.8 56.8 12.8 100, 246 2, 391 106, ^09 2,604 109,484 2,616 2,700 546 61 164 182 3,155 642 66 3,522 760 8? 198 240 46 118 331 1,747 2,828 627 66 165 197 34 70 263 1 ,405 2,886 587 65 172 195 33 76 294 1 463 7,855 1,456 298 3,C89 1,201 2 336 11,255 3,3% 3 859 3,906 i ,430 2 014 8,185 1,012 2,084 3,992 1 ,747 1 550 Shares listed on New York Stock Exchange: 99,3/0 Number of shares D i sted TRANSPORTATION Freight carloadings: Cars , total (A ; A . R . ) 2/ Coal thousands . . do .... Livestock Ore do .... do .... Freight-car 'surplus and shortage, daily average: Car surplus number . . Coal cars Car shortage Box cars .do. ..• do .... do .... ELECTRIC POWER Electric power, production, total Utilities Industrial establishments FOODSTUFFS AND TOBACCO Distilled spirits: Prndl2f»t1 OH,. f . T - T T - T T T T T T T T ?,384 mil 11 ons . . tt. <• . ,T. -T mil. of kvr.-hr. . do. ... do. ... , T t?l ™ ' f? O O f* tflX Pfll » t 3,009 111 , 580 2,627 632 64 187 2L4 38 68 308 1,498 65 284 1,373 210 51 202 285 1,5?4 5,677 705 1,138 19, 267 12,006 6 5?8 2,680 87 572 29,977 19,449 8,518 3,375 203 4 8 , 586 2,459 5 311 36,726 31,418 5,308 33,102 28,219 4,883 37,313 32,095 5,217 38,459 33,143 5,316 39,710 34,203 5,507 36 057 16,979 808,869 28,^71 13,612 820,129 2S , 840 li , 058 917,249 i Q, 382 7,746 925,197 ' 17 0°6 6,592 932,563 16,?35 7,811 707,673 12,238 11,170 10,831 6,679 756,521 9,518 8,502 10,463 4,682 760,803 7,349 6,516 9 548 4,095 765,029 5,094 4,348 19,876 18,733 4 . 4 83.3 + 8 403,215 373,358 43,591 46,684 18,386 8P.O 375,647 43,333 21,212 86.4 429,000 49,683 3,508 23,847 367,906 14,353 33,383 494, 556 24 175 Whisky: 20 159 Tax-paid withdrawal s do ^ ... 9,770 Stocks , end of month do .... 701,635 Rectified d5 stilled spirits, prod., total. . .thous.of proof gal,. 14,845 Whisky. . . , do. . . . 13,524 Wheat flour: Production: Flour thous. of sacks (100 Ib. ) . . 22,?09 89.8 Operations, percent of capacity. . Offal short tons . . 443,065 51,558 Grindings of wheat thous. of bu. . Tobacco, manufactured products, consumption (withdrawals): ? . 'v.y. Cigarettes small tay—free. . «.. .millions • Cipars , tax— pai d thousands . • Manufactured tobacpo and snuff, tax—paid. .. «, .thous. of Ibs* LUMBER AND MANUFACTURES Lumber (National Lumber Manufacturers Association) : Production, total mil. of bd ft. . Softwoods do.... 33^474 458,877 20, 360 3,005 713 2 292 i 3,199 705 2 494 6 552 2 299 4,253 3,003 28,857 435,074 17,765 2,763 634 2,129 2,884 688 2 1% 6 431 3,708 33,994 55A 3/1 o/ rvr? <iq->UU;> 3,210 686 2,524 3,163 690 2,473 8.2AO 9 9/J. ? i/a 4,187 5,092 2,632 645 1,987 2,541 600 1.941 r8 "W. r3,193 5,171 19 L^C) 2,797 611 2 186 3 021 619 2 A02 8 311 3 186 5,125 r/ Revised. I/ Includes bonds of the International Bank for Reconstruction and Development not shown separately. 2/ Data for December 1951 are for 5 weeks; other months, 4 weeks. MONTHLY BUSINESS STATISTICS —Continued Earlier data are available in monthly issues of the Survey and the 1951 Statistical Supplement 1950 December 1952 1951 January October November December January PETROLEUM AND COAL PRODUCTS Bituminous coal: Industrial consumption and retail deliveries, total thous. of short tons.. Cement mills .......,»..>.* do. . . . Stocks, industrial and re^ail dealers, end of month, total thous. of short tons.. 44,875 35,5% 980 8,473 799 9,024 5,615 795 9,910 9,279 r47,623 r36,924 1,105 8,633 745 9,286 5,717 848 rlO, 590 rlO,699 r40,002 r33,244 971 8,691 728 9,236 4,252 625 r8,741 r6,75S r41,435 r34,C27 933 8,367 781 9,382 4,344 705 r9,515 r7,408 r42,803 r 34, 660 r971 8,670 758 9,267 4,463 758 r-9/773 r3,143 44,277 34,888 991 8,758 740 9,540 4,301 775 9,783 9,389 72,516 70,054 16,776 1,369 27,121 5,105 1,012 18,671 2,462 74,006 71,766 16,960 1,418 27,006 5,311 1,074 19,997 2,240 78,019 76,OSO 34,953 1,420 34,162 4,126 1,155 20,264 1,939 77,858 75,948 15,123 1,508 34,104 4,163 1,151 19,899 1,910 76,636 74,886 15,270 1,424 33,398 4,172 1,181 19,441 1,750 74,431 72,800 13,823 1,373 32,692 4,161 1,213 19,538 1,631 rl77,460 190,448 183,110 199,958 197,610 199,826 188,3^9 198,258 191,650 206,032 248,463 243,107 262,266 261,100 255,733 41,628 40,475 44,244 42,397 40,159 37,944 40,726 39,111 44,693 40,693 58,424 40,317 102,561 48,415 94,917 45,378 80,785 42,063 5,061 8,160 5,432 8,9U 5,344 9,111 5,157 9,617 94,132 83,773 17,334 98,510 86,942 18,167 95,859 84,976 18,191 100,039 88, £00 18,941 120,473 8,006 7,474 101,837 6,963 9,003 105,117 6,911 8,379 117,235 7,747 8,134 1,252 162,222 467,746 169,6% 68,152 34,931 197,756 84,495 rl,354 r!80,556 r532,234 r198 , L49 r67,478 r38,821 r215,598 52,000 1,470 198,261 570,792 209,922 68,807 39,939 214,370 85,319 1,416 197,916 548,166 205,199 61,363 37,957 r203,712 83,192 rl,277 167,475 490,399 191,314 62,126 35/526 rl92,799 177,195 1,438 201,804 560,122 208,833 63,251 39,480 206,886 83,109 81,974 10,162 9,708 13,534 12,525 1,040 33,043 r93,842 r!2,017 9,441 r21,844 33,354 597 r35,569 106,227 13,650 12,871 26,290 13,012 1,129 34,432 102,792 34, -142 12,413 23,293 11,480 1,927 34,880 rl07,057 r8,7l3 rll,462 29, 508 12,184 1,816 r37,%9 108,352 11,150 12,583 26,472 11,240 1,540 39,210 19,116 12,477 13,018 3,925 17,434 32,237 18,222 5,473 22,797 r26,139 6,945 3,544 20,736 18,001 9,916 3,882 19,874 11,790 r!7,999 r4,711 17,039 12,6% 22,336 7,028 9,321 9,153 6,776 10,279 9,499 7,240 9,341 8,948 9,884 7,804 7,714 9,710 7,603 7,568 9,453 8,903 8,484 9,599 12,817 3.1,842 25,456 r!5,423 rL4,945 r25,934 13,558 14,302 28,643. 12,401 13,748 27,297 11,490 11,459 27^328 13,945 13,366 28,778 Crude petroleum: Stacks, end of month: Refined petroleum products.' Fuel oil: Production : Distillate fuel oil. •,....*...•• • do*... Stocks, end of month:1 Distillate fuel oi" .a.*.. *.......«...«.«*.«««..«» .do. . . • 71,948 40,750 Lubricating oils: 5,068 7,849 Motor fuel: r90,924 Gasoline and naphtha from crude petroleum. . . .o0. do.... 80,229 Natural gasoline opd allied products* » *»...do...0 r!7,222 Stocks, gasoline£ encl of month: 108,669 8,100 7,355 PULP, PAPER, AND PRINTING Wood pulp: Stocks, end of month- total. , all grades........ .,...„. do... . STONE, CLAY, AND GLASS PRODUCTS Portland cement: Glass containers: TEXTILE PRODUCTS Hosiery: r/ Revised. .