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SURVEY OF CURRENT BUSINESS WEEKLY SUPPLEMENT UNITED STATES DEPARTMENT OF COMMERCE BUREAU OF FOREIGN AND DOMESTIC COMMERCE WASHINGTON, D. C, MAY 16, 1940 SUMMARY OF BUSINESS TRENDS T^XPORTS in April declined to $315 million from $345 in the -*-* previous month, in consequence of a lessening in foreign demand in general and the practically complete stoppage of shipments to the Scandinavian countries after the spread of the war to Norway. Of the $30 million decrease in exports of United States merchandise, $16 million is accounted for by the loss of the Scandinavian market, and the other half by smaller shipments to all major countries except Canada, France, the United Kingdom, and the Union of South Africa. In April shipments to the allied countries increased approximately $7.5 million, but this was offset by decreases to other European countries. Exports to Latin. America likewise were off by about $10 million. Shipments of agricultural commodities—particularly cotton, foodstuffs, and tobacco—were further restricted during the month. Aircraft shipments were maintained, but trucks, automobiles, chemicals, metals, and metal products were lower. The high volume of exports of metal-working machinery continued during April, with France and Russia increasing their share of the total. Crude petroleum and coal were among the few export commodities to show gains during the month. Data from New York State show a decline in factory employment and pay rolls of 2.2 percent and 4.1 percent, respectively, unadjusted, from mid-March to mid-April. Usually indicative of the national trend, the declines are greater than seasonal. There were some indications in the early part of May, however, that the general decline in business activity may have come to an end, although a broad upturn is not yet in evidence. Miscellaneous and 1. c. 1. freight carloadings were up contraseasonally, and total carloadings (both including and excluding coal) were up more than seasonally. Steel-ingot production, which gained 6.5 percent in the week ended May 11, showed a further rise in the scheduled rate to 70.0 percent of capacity for the current week. Automobile production, however, was estimated at 98,480 units for the week ended May 11, for the third consecutive more-than-seasonal decline. Automobile retail sales for April were only 1 percent higher than the previous month, with the result that inventories remained close to 500,000 units. The seasonally adjusted index of department store sales for April was up 1 point to 90 (see chart below) and was 2 points above a year ago. SELECTED BUSINESS INDICATORS STEEL INGOT PRODUCTION ELECTRIC POWER PRODUCTION (PERCENT OF CAPACITY) (BILLIONS OF KILOWATT HOURS) r<%-n -wy AUTOMOBILE PRODUCTION m FREIGHT CAR LOADINGS (THOUSANDS OF CARS) ^C\ COMMERCIAL LOANS BITUMINOUS COAL PRODUCTION (DAILY AVERAGE - THOUSANDS (THOUSANDS OF VEHICLES) CRUDE OIL RUNS-TO-STILLS OF TONS) (BILLIONS OF DOLLARS) MISCELLANEOUS CAR LOADINGS (MILLIONS OF BARRELS-DAILY AVERAGE) f HA. HOME MORTGAGES (THOUSANDS OF CARS) (NUMBER SELECTED j o y APPRAISAL ON HOMES TO BE B U I L T ) EXPORTS OF U.S. MERCHANDISE DEPARTMENT STORE SALES (MILLIONS OF DOLLARS) (SEASONALLY ADJUSTED 1 9 2 3 - 2 5 = 1 0 0 ) 500 100 400 95 MONTHLY GATA 90 300 85 200 80 100 V 75 0 ',, i ., I.. 1937 229889-40 i.. , • i,, I,, 1938 1939 1940 i,, 70 M I 1 r r I i U 1937 , i 1938 1939 1940 WEEKLY BUSINESS INDICATORS# [Weekly average, 1923-25=100] Business activity: 1 New York Times §cf-Barron's cf Business Week C o m m o d i t y prices, wholesale: D e p t . of Labor, 1926=100: F a r m products (67) Food (122) All other (624) Fisher's index, 1926=100: Combined index (120) Copper, electrolytic % Cotton middling spot May M a y 11 A P r 2 0' ITEM Apr. May May May May 13 13 6 14 7 78.9 71.3 72.5 82.6 79 0 71 6 72.8 82.5 78.5 69.6 71.9 82.6 78.0 68 0 70.8 8? 7 76 4 64.4 68.5 81.0 76.1 63.6 68.3 80.9 77.8 67.4 71.5 81.9 77.9 67.4 71.4 82.0 84.0 84.3 84.6 84.8 84.5 79.9 79.9 80.8 80.5 79.0 79.7 80.4 81.9 fcn 4 71.7 72.5 71.0 71.0 38 6 40 8 40.8 40 8 40.8 34.6 34 2 32.4 32 0 •* L u m b e r PetrnipiiTnt 52.1 90.9 62.3 73.3 70.2 Construction contracts t 69.9 67.7 66.0 65.0 58.3 "w~b 56.9 "56.1 Distribution: Carloadings 65.1 108.3 89.8 108.8 Employment: Detroit, factory.„. . . . . . Finance: Bond yields t Stock prices t May May Apr. Apr. A r May May May May 14 7 6 27 20 f3 - 13 4 11 Finance—C ontinued. Banking: Debits, outside N. Y. C.t__._ Federal Reserve reporting member banks: Loans, total ..Interest rates: Call loans! Time loans t Currency in circulationt Production: Automobiles ,. Bituminous coalt Cotton consumption!.----Electric powert 93.9 93.2 93.2 m 3 85.3 86.1 76.3 76.3 101.0 99.8 99.5 100.0 70.4 79.0 68.6 69.0 106.9 105.4 105.2 104.8 90.6 91.8 76.0 75.7 80,4 101.3 91.2 99.6 84.2 82.5 96.2 76.8 88.5 69.2 fiP 3 69.2 69,2 69.1 64.7 64 6 67.6 68,1 24.2 24.2 24.2 ?4 ? 24.2 ?4 ? 24.2 24.2 24 ? 28.6 ?£ 6 ?R 6 28.6 28 6 2S.6 •>8 6 28.6 156.4 156.2 155.1 155.2 154.9 142.4 142.6 132.0 132,1 125.3 1?fi 3 129.0 131 9 129.7 9? 1 m s 62.8 78.6 77.2 71.8 75.0 10.5 27.0 49.1 115.7 115 3 115.7 116 ? 115 3 79.0 143.2 143 9 145.4 145.1 130 3 129.9 118.1 49.2 51.6 49.0 48.1 48 1 49.2 39.1 182.4 190.7 191.4 191.1 168.8 177.6 166.7 112.8 106.0 102.9 104.4 105.1 80.7 82.1 51.3 Steel ingots<8> Receipts, primary markets: 57 8 59.2 Cattle and calves .-m 6 39.6 Hogs ... 23.8 33 1 45.4 Cotton ... Wheat... _ _ 106.5 103.9 101.2 60.7 61.0 61.4 61.5 61,4 65.5 66.2 73.3 75.4 .- 110.5 111.3 111.8 111.6 113.0 96.6 96.0 85.7 82.4 1938 1939 1940 1938 1939 1940 ITEM 56.6 37 7 37,7 82.4 53.6 47.8 32.7 67.0 6? 7 37 ? ?8 8 68.0 61 4 3R 5 16 9 59.8 67,9 45.7 83. ft 116.4 167.7 51.8 63 ? 64.1 37.4 24.6 40.0 m? ?A 6 47.4 fWeekly average, 1928-30=100. IDaily„ average. T o__ cfFor indexes, see p . 4 of the Dec. 16,1937 issue. ~ " description • • -• of- these - • D a t a do not cover calendar weeks in all cases. gComputed n o r m a l - 1 0 0 . ^Seasonally adjusted. ® I n d e x for week ended M a y IS is 120.0. WEEKLY BUSINESS STATISTICS • 1940 May 11 May 4 Apr. 27 1939 Apr. 20 Apr. 13 Apr May 13 1938 May 6 May 14 1937 May 7 May 15 COMMODITY PRICES, WHOLESALE Copper, electrolytic,-New YorkJ. dol. per lb__ Cotton, middling, spot. New York do Food index (Bradstr eft's) _ .do Iron and steel, composite dol. per ton.. Wheat, No. 2 Hard Winter (Kansas City) .dol. per bu._ FINANCE Banking: Debits, New York City miil. or dol.. Debits, outside New York City (140 cities) do. Federal Reserve banks: Reserve bank credit, total .do. TJ. S. Government securities _.do Member bank reserve balances ..do Excess reserves, estimated _ do Federal Reserve reporting member banks: Deposits, demand adjusted do Deposits, t i m e . - . do. Investments, total§ do. U. S. Government direct obligations do Obligations fully guaranteed by U. S. Govern* ment mil. of dol.. Loans, total§_._ ..do.. Commercial, industrial, and agricultural loansg mil. of dol.. Interest rates, callloansi .percent.. Interest rates, timeloanst do Exchange rates: French franct cents.. Pound sterlingt--.dollars.. Failuies, 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) t--percent.. Stock sales (N. Y> S. E,) thous. of shares.. Stock prices (iV. Y. Times)t-, dol. per share.. Stock prices (Standard Statistics) (420) 1926=100.. Industrials (350) — do. Public utilities (40) .do. Railroads (30) do. PRODUCTION, CONSTRUCTION, AND DISTRIBUTION Production: Automobilesi — .number.. Bituminous coalt thous. of short tons.. Electric power mil. ofkw.-hr_. PetroleumJ. .thous. of bbl.. Steel ingots© pet. of capacity.. Construction-contract awards! thous. of dol Distribution: Freight-car loadings, 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 calves ...thousands. Hogs _do Cotton into sight thous. of balesJ. Wheat, at primary markets thous. of bu 0.109 .105 2.33 37.25 1.05 0.110 .111 2.34 37.17 1.05 0.111 .111 2.33 36.57 1.08 0.113 .111 2.30 36.56 •1.08 0.111 .111 2.30 36.56 1.04 0.110 .111 2.28 37.07 1.03 0.099 .094 2.28 35. 72 .75 0.100 .093 2.27 36.21 .75 0.098 .088 2.34 38.52 .82 0.098 .087 2.36 38.52 .81 0.138 .132 2.84 40.05 1.30 2,995 4,146 3,489 4,697 3,639 4,228 3,640 4,622 3,122 3,903 4,423 5,189 2,930 3,830 4,136 4,465 3,064 3,566 3,801 4,105 3,550 4,403 2,507 2,467 12,877 6,131 2,500 2,467 12,870 6,107 2,501 2,467 12,883 6,116 2,514 2,467 12,757 6,048 2,500 2,467 12,575 5,949 2,512 2,467 12, 395 5,815 2,575 2,564 9,967 4,186 2,572 2,564 9,872 4,084 2,589 2,564 7,560 2,564 7,504 2,442 2,576 2,526 6,943 936 19,741 5,31S 14,922 9,032 5,305 14,881 8,960 19,764 5,313 14,934 8,975 19,655 5,312 14,936 9,002 19,465 5,360 14,835 8,938 19,175 5,355 14,666 8,848 16,719 5,249 13,634 8,334 16,660 5,248 13, 714 8,341 14,598 5,207 12,359 8,017 14.450 5,226 12,325 8,001 15. 376 5,201 12,665 8,323 2,434 8,654 2,427 8,661 2,427 8,650 2,406 8,653 2,379 8,631 2,380 8,649 2,010 8,085 2,026 8,071 1,344 8,451 1,322 8,517 1,164 9,540 4,404 1.00 1.25 4,409 1.00 1.25 4,419 1.00 1.25 1.00 1.25 4,393 1.00 1.25 4,414 LOO 1.25 3,852 1.00 1.25 3,841 1.00 1.25 4,110 1.00 1.25 4,126 1.00 1.25 1.00 1.25 1,876 « 4.0?5 289 7,594 1.9S0 • 4.035 292 7,585 1.991 « 4.035 311 7,531 1.989 •4.035 262 1.992 "4.035 344 7,523 2.023 M.035 274 7,528 2.649 4.681 321 6,916 2.649 4.681 281 6,923 2.832 4.974 2.903 4.988 4.481 4.940 6,411 6,416 6,420 34,540 3.50 5,410 107.35 91.5 107.6 87.1 28.6 30,460 3.52 3,999 108.13 91.3 107.3 87.1 28.4 29,840 3.54 4,623 108.56 92.4 108.7 86.9 29.0 33,210 3.55 6,750 108.42 92.2 108.4 87.6 28.6 42, 310 3.54 6,895 109. 78 93.3 109.8 88.2 29.3 49,310 3.55 7,270 109.46 93.5 110.0 88.6 29.6 28,290 3.78 2,655 93.79 83.6 97.6 82.8 25.4 26,340 3.82 2,639 93.23 83.1 97.2 81.6 24.9 37,010 4.23 4,475 83.22 76.6 90.3 72.7 23.2 29,070 4.35 3,643 79.99 73.3 87.2 67.0 21.4 47,060 3.90 5,546 127.77 116.6 136.9 94.2 57.7 101,405 1,314 2,398 3,845 60.0 14,597 103,725 1,222 2,422 3,859 60.9 10,004 101,940 1,278 2,418 3,854 61.3 11,762 101,655 1,382 2,381 3,745 61.7 72,375 179 2,171 3,403 47.0 11,275 71,420 459 2,164 3,581 47.8 49,415 837 1,968 65.8 99,305 1,339 2,386 3,679 61.8 53,385 779 1,939 3,382 30.7 139,507 1,212 2,195 3,552 91.2 8,132 665,510 129,723 31,215 33,171 13,073 149,906 35,482 272,940 644, 520 124,638 33,718 35,933 12,352 148,638 20,846 268,395 628,342 121,018 32,096 34.163 11,304 148,150 15.164 266,447 618,810 120,447 31,174 31,196 11,146 148,301 12,495 264,051 602,697 107,518 31,570 30,108 10.069 149,726 10,369 263,337 555,396 47, 677 30,573 34,370 12,783 152,161 24,928 252,904 572,025 65,302 30,121 34,016 13,876 153,808 16,612 258,290 541,808 85,477 26,354 32,226 12,166 148, P45 15,971 223,769 536,149 81,086 25,809 32,549 13,060 150,750 7,884 225,011 769,560 126,362 39,287 26,476 12,545 170,215 71,095 323, £80 183 329 86 8,263 187 257 118 8,049 179 245 98 6,551 169 310 85 5,330 169 304 109 5,754 198 242 75 5,411 194 250 44 4.758 203 243 64 3,183 200 228 19S 68 1,596 62 8,475 30.4 8,365 64 3,768 ®Kate for week ended May 18 is 70.0. JDaily average. "Data do not cover calendar weeks in all cases. -Official rate. 5 No longer strictly comparable; for an explanation see the corresponding data on p. 30 of the April 1939 issue of. the SvRVEY. 1 Source: Ward's Automotive Reports. mvNTHLY BUSINESS STATISTICS Monthly statistics through December 1937, together with explanatory notes and references to the sources of the data, may be found in the 1938 Supplement to the Survey COMMODITY PRICES Pages 11,12 Retail prices: U. S. Department of Labor indexes: Food 1923-25=100.. Fairchild's index: Combined index Dec. 31,1930=100.. Apparel: Infants'.. do. Men's . ___do. Women's. ___do. Home furnishings -.. ...do Piece goods _._do. DOMESTIC TRADE! Pages 27, 28, 29, 30 Postal business: Receipts, postal: 50 selected cities thous. of dol__ 50 industrial cities do. Retail trade: Chain-store sales: Variety-store sales: Combined sales of 7 chains: Unadjusted ....1929-31 = 100.. Adjusted. _.„_do. H. L. Green Co., Inc.: Sales thous. of dol. _ S. S. Kresge Co.: Sales do. Stores operated number.. S. H. Kress & Co.: Sales __ .thous. of dol. Stores operated number. McCrory Stores Corp.: Sales thous. of dol. O. C. Murphy Co.: Sales do Stores operated number.. F. W. Woolworth Co.: Siles thous. of dol_. Stores operated number.. Other chains: W. T. Grant & Co.: Sales. thous. of d61_. Stores operated _ number.. J. C. Penney Co.: Sales thous. of dol.. Department stores: Sales, total U. 8., unadjusted.l923-25=100_. Atlanta.. do. Boston do. Chicago... do. Clevelandt do. Dallas ._. do. Kansas City.... ..1925=100.. Minneapolis!1929-31=100, New York... 1923-25=100. Philadelphia!-do... Richmond do... St. Louis do... San Francisco! do... Sales, total U. S., adjusted do Atlanta do. Chicago _ _.do_ Clevelandt _^_do_ Dallas do. Minneapolis! 1929-31 = 1 New York 1923-25=100.Philadelphiat do.... St. Louis do — San TratrciSceTrnT^TT. .T: ."_"."_ _T_~~: do! 1 „ Mail-order and store sales: Montgomery Ward & Co thous. of dol.. Sears, Roebuck & Co do. FINANCE Pages 53, 56, 57, 58, 70, 71, 75. 76 Banking: Bank debits, total (141 cities)..-mil. of doL. New York City... do.... Outside New York City do Savings deposits: Savings banks in New York State: Amount due depositors mil. of dol. Commercial failures:! Grand total number.. Liabilities, grand total ..thous. of doL Capital flotations: Securities issued by type of security, total thous. of dol.. New 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 J do.... 'Revised. 1940 April 1940 1939 April May June July Se August Decem£ ^ * October November ber m January February tfaich 75.1 79.0 78.4 77.9 76.9 77.1 78.1 77.1 89.5 90.2 91.2 91.9 92.0 92.3 92.6 92.8 95.9 88.4 90.6 84.1 88.4 89.0 90.7 84.1 96.1 88.6 89.5 91.7 84.3 96.3 88.7 90.4 92.7 84.7 96.4 88.7 90.9 93.5 85.0 96.4 88.7 91.0 93.5 85.3 96.6 88.8 91.4 93.7 85.5 96,6 88.8 91.8 94.1 85.9 96.9 88.9 91.9 94.4 86.0 29,791 3,6S7 25,464 3,271 28,233 3,540 31,960 3,788 32,446 3,658 42,938 5,117 3,791 29,737 3,665 32,657 3,413 95.8 ._100-8. 91.3 102.6 89.5 101.1 96.1 102. y 101.4 108.4 106.8 206.6 112.0 75.1 100.7 82.4 99.7 '97.9 "104.0 78.2 76.6 76.5 76.3 92.8 89.1 89.1 89.1 96.9 88.9 91.7 94.3 86.0 96.0 88.4 88.8 90.5 84.1 95.9 88.4 88.8 90.5 84.1 95.9 88.4 88.9 90.6 84.0 31,615 3,923 29,830 3,618 30,922 3,687 90.7 98.0. 97.6 .. 97.1 96.3 96.3 76.5 2,497 2,869 2,733 2,712 2,502 2,446 2,785 2,855 3,066 6*228 2,125 2,093 2,905 10,498 675 11,940 683 11,401 682 11,293 10,369 685 10,578 683 11,513 11,938 682 12,356 24,406 686 675 9,543 675 12,206 675 6,401 239 6,315 239 6,818 6,406 239 6,225 240 6,490 240 6,596 240 7,286 240 7,295 240 15,232 240 5,300 240 5,603 3,246 3,648 3,300 3,420 3,158 3,136 3,354 3.431 3,622 7,655 2,767 2,998 3,888 3,585 203 3,848 201 3,741 201 3,758 201 3,564 201 3,470 201 3,789 201 4,090 202 4,219 202 8,163 202 3,083 202 3,134 202 4,069 202 23,774 2,014 25,919 2,008 24,725 2,005 24,662 2,013 24,340 2,015 24,123 2,014 25,810 2,015 26,530 2,018 26,948 2,019 52.333 2,020 20,512 2,017 22,117 2,015 27,545 2,016 7,620 492 8,377 489 8,497 491 7,298 493 7,210 494 8,235 495 9,316 494 5,931 492 6,109 492 8,101 492 21,181 21,314 22,232 22,237 19,504 20,679 26,143 8,733 495 23,722 18,868 493 28,215 43,216 18,292 16,032 21,469 87 118 75 83 108 76 89 82 90 74 95 87 65 105 75 106 142 168 230 140 164 171 195 154 160 172 139 217 156 179 96 135 98 100 113 105 95 76 U 72 71 111 53 74 73 91 70 70 69 53 83 73 83 89 126 92 93 107 97 86 70 86 '86 '136 ••69 '92 86 '110 p 86 J> 119 v 73 v 101 P 83 P 97 9 83 * 65 P 104 p 90 p 88 J-91 '105 5 119 75 89 92 104 82 97 86 67 102 115 86 87 104 95 89 68 _. S6 105 86 94 85 70 115 86 93 85 116 88 83 105 94 88 71 &6 " 97 49 61 63 72 61 69 63 46 73 62 81 86 119 126 91 85 84 86 103 101 97 95 89 90 67 66 82 _ ^ 9 0 99 97 114 55 77 73 83 79 89 67 50 86 70 94 89 146 95 88 107 102 90 67 .. 94 100 97 133 83 102 96 115 90 116 97 74 118 91 142 99 92 104 104 93 74 138 85 116 94 116 104 80 132 96 103 90 116 89 94 103 97 91 69 -•85- 107 117 88 97 115 95 131 102 105 95 125 90 100 104 94 97 78 S7100 104 92 118 94 93 113 102 • 94 72 S793 239 54,945 67,246 47,764 60,330 66,020 82,427 29,984 40,543 30,5-0 48,259 44,743 62,751 30,477 12,794 17,683 30,613 13,118 17,496 33,664 15,138 18,526 32,711 13,683 19,029 31,676 13,041 18,636 40,019 17,633 22,386 34,717 14,739 19,978 29,482 12,138 17,344 34,738 15,201 19,537 5,514 5,519 5,529 5,557 5,552 5,547 5,599 5,616 5,632 5,676 1,119 12,581 1,153 14,999 1,126 12,637 1,043 10,545 1,234 17,464 1,184 13,201 1.153 13,243 1,237 15,279 1,04: 13,472 1,197 11,681 279,459 450,801 90,901 103,959 188,559 346,842 241,183 165,515 256,246 32,055 45,404 5,249 12,213 7,015 17,534 133,460 210,842 0 115,000 101,363 134,877 29,120 1,201 7,000 105,756 24,250 34,226 45,856 56,372 41,595 51,236 42,323 59,613 41,302 56,768 33,452 43,941 34,769 15,519 19,250 30,143 13,311 16,832 31,928 14,165 17,763 15,312 18,676 5,660 5,463 5,471 1,291 16,247 1,331 18,579 1,334 15,897 590,429 460,667 179,919 740,453 218,145 329,968 358,117 1,313,005 94,864 144.258 116,874 273,350 318,016 112.031 41,669 336,243 213,860 1,196,131 312,234 272,413 348,636 138,249 404,210 129,458 235,104 246,279 259,909 183,242 282,039 230,577 343,357 95,115 175,514 112.200 221,252 53,925 78,160 21,740 30,241 50,139 25,895 16,019 18,200 21,408 26,971 7,658 14,088 1,099 5.957 3,987 12,198 10,339 17,045 22,598 75,981 5,360 1,975 1,505 125 1,930 12,666 25,892 403 16,767 579 192,353 181, 749 161,502 251,798 180,438 317,463 79,096 157,314 90,792 194,281 3,443 12,000 15,215 600 2,000 79,810 96,124 20,123 50,943 60,175 41,236 106,500 154,400 160,185 80,788 250,835 23,866 147,052 76,840 118,050 344,896 117,609 227,287 '• • 171,377 • p Preliminary. fRevised series. For revisions for department store sales see footnote marked " ! " on p. 24 of the April 1940 SURVEY. For commercial failures see footnote marked "V* on p. 31 of the April 1940 SURVEY. MONTHLY BUSINESS STATISTICS—Continued Monthly statistics through December 1937, together with explanatory notes and references to the sources of the data, may be found in the 1338 Supplement to the Survey 1940 April 1939 April May June July 1940 N m August < X 7 - October <££ ' ^- January Febru- March FINANCE—Continued Security markets: Bonds: Yields (Moody's): Domestic (120 bonds) percent. By ratings: Aaa (30 bonds) __. do.._ Aa (30 bonds) do... A (30 bonds).. do... Baa (30 bonds) do... By groups: Industrials (40 bonds) do... Public utilities (40 bonds) do... Rails (40 bonds) do... Stocks: Cash dividend payments and rates (Moody's): Annual payments at current rates (600 companies). .mil. of dol_. Number of shares, adjusted millionsPrices: Dow-Jones & Co., Inc. (66 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 3.54 3.84 3.78 3.71 3.67 3.95 3.60 3.58 2.82 2.99 3.59 4. 74 3.02 3.22 3.97 5.15 2.97 3.16 3.92 5.07 2.92 3.13 3.86 4.91 2.89 3.07 3.83 4.84 2.93 3.11 3.80 4.85 3.25 3.49 4.05 5.00 3.15 3.35 3.94 4.88 3.00 3.16 3.78 4.85 2.94 3.14 3.74 4.92 2.88 3.08 3.69 4.86 2.86 3.05 3.68 4.83 2.84 3.04 3.65 4.80 3.05 3.24 4.33 3.35 3.51 4. 3.45 4.60 3.23 3.42 4.47 3.17 3.39 4.42 3.21 3.40 4.41 3.57 3.70 4.58 3.43 3.57 4.51 3.25 3.41 4.44 3.21 3.38 4.47 3.14 3.35 4.39 3.12 3.33 4.37 3.09 3.29 4.37 936.43 , 337.76 935.03 49.92 148.91 25.09 31.00 109.17 195.13 23.22 42.68 127.73 22.05 25.75 90.46 161.51 19.41 3.70 1,339.27" 1,382.43* 1,391-46 1,422.99 1,423.82 1,442.45 1,573.05 1,589.37 1,597.25 1,618.60 1.631.30 935.03 935.03 935.03 935.03 936.43 935.03 935.03 935.03 936.43 44.43 132.56 23.05 27.02 94.19 167.73 20.67 45.66 136.52 23.66 27.59 96.95 173.12 20.79 46.82 139.26 24.96 28.29 99.74 178.03 21.45 46.47 137.89 25.68 27.67 99.44 178.21 20.68 50.47 150.72 24.36 31.97 110.38 195.86 24.91 51.80 152.15 25.64 34.27 110.33 194.82 25.84 85 80 87 62 108 51.01 149.98 25.68 33.38 108.59 192.28 24.90 50.01 148.54 25.00 31.63 109.01 194.21 23.82 49.72 147.60 25.44 31.09 107.40 191.78 23.03 49.44 147.29 24.87 30.83 107.83 192.67 22.98 49.15 147.13 24.26 30.45 107.66 192.71 22.61 63 191 73 78 87 62 116 72 78 73 62 114 73 75 61 107 67 69 75 60 100 TRANSPORTATION AND COMMUNICATION Pages 84, 85 Class I steam railways: Freight-car loadings (Federal Reserve): Combined index, unadjusted-1923-25=l00. Combined index, adjusted... _._do___ Grains and grain products ...do... Merchandise, 1. c. 1 ..-.do... Ore.. ._.do___ FUELS AND BYPRODUCTS Pages 119,120,121,122 Petroleum and products: Crude petroleum: Consumption (run to stills)-thous. of bbl. Production _ — do... Refinery operations pet. of capacity. Stocks, end of month: California: Heavy crude and fuel thous. of bbl. Light crude.. do... East of California, total do... Refineries .do... Tank farms and pipe lines.. do... Refined petroleum products: Gas and fuel oils: Production: Residual fuel oil do... Gas, oil, and distillate fuels, total. _do___ Stocks, end of month: Residual fuel oil, east of California thous. of bbl. Gas, oil, and distillate fuels, total thous. of bbl. Motor fuel:1 Demand, domestic do Production, total do.._. Benzol do.... Straight-run gasoline do.... Cracked gasoline do Natural gasoline do Natural gasoline, blended do.... Gasoline :1 Stocks, end of month: Finished gasoline, total do.... At refineries ..do Natural gasoline do.j__ Kerosene: Consumption, domestic do.___ Production do.._. Stocks, refinery, end of month do.... Lubricants: . Consumption, domestic do... Production do... Stocks, refinery, end of month do... METALS AND MANUFACTURES Page 131 Pie iron and iron manufactures: Pig iron: Productionf thous. of short tons.. Furnaces in blast, end of month: Capacityf ..-short tons per day.. Number 70 67 70 79 59 102 104,916 105,835 106,530 111,887 114,810 113,140 81 81 105,755 no, 5« 104,687 106,899 104,607 110,937 85 84 107,632 105,505 80,865 108,168 85 84 86.075 40,180 190,746 85,580 39,878 230,279 40,445 189,834 85,049 85,655 38,902 38,427 226,462 223,558 41,463 41,817 184,999 181,741 84,039 82,927 82,718 81,112 80,223 7ft, 380 79,047 78,440 38,072 37,372 35,533 . 35,129 35,478 35,567 36,110 35,943 192,985 189,341 187,579 191,164 195,836 196,407 200,704 207,407 37,441 35,781 39,427 40,033 39,162 40,212 40,871 155,544 153,560 150,657 151, 737 155,803 157,245 160,492 166,536 24,750 13,301 27,022 12,353 24,836 13,530 25,644 12,688 25,299 13,246 26,302 12,975 110,980 114,198 27,594 15,017 26,088 13,757 26,944 14,433 16,548 24,680 16,262 26,870 16,346 19,534 21,397 22,480 25,025 26,111 26,249 26,109 24,018 20,881 18,764 19,130 19,160 21,058 22,088 25,659 27,581 29,282 30,018 30,951 30,179 26,374 21,057 19,615 18,541 43,977 48,837 162 20,922 23,521 4,232 2,983 49,547 51,384 130 22,767 24,207 4,280 2,646 49,812 50,861 174 21,782 24,810 4,095 2,682 50,508 51,896 191 22,502 25,028 4,175 2,909 53,8?8 52,161 210 22,371 26,180 3,400 3,092 49,347 51,890 225 21,833 25,700 4,132 3,237 49,687 54,974 259 23,611 26,623 4,481 4,358 47,275 52,691 267 22,415 25,621 4,388 4,286 43,694 52,351 275 22,017 25,589 4,470 4,018 40,370 50,243 272 21,709 23,991 4,271 3,285 37,557 47,596 231 20,409 22,777 4,179 3,067 44,607 51,230 237 21,774 24,730 4,489 81,623 55,172 5,484 78,342 52,076 6,212 74,395 47,972 6,749 71,824 44 196 7,123 66,448 41,046 6,624 65,498 41,423 5,891 68,116 43,516 5,140 71,619 46,898 4,579 77,301 51,920 4,421 84,863 60,420 4,476 92,721 68,227 4,757 96,467 70,274 5,042 5,813 5,663 4,368 5,909 6,551 3,710 5,390 8,855 4,436 5,783 9,361 4,638 5,806 9,952 5,019 6,141 9,967 6,023 5,642 9,019 6,613 5,822 7,576 7,642 5,375 4,918 6,263 5,945 4,302 6,273 6,570 4,114 1,770 2,672 7,886 2,132 2,856 7,630 3,570 5,439 7,949 1,902 2,800 7,427 1,982 2,755 7,179 1,963 3,056 7,069 2,207 2,854 6,704 2,656 3,575 1,927 3,277 6,799 1,825 3,478 7,142 2,054 3,308 7,328 l f 522 3,108 7,825 1,883 3,335 8,084 3,137 2,303 1,924 2,373 2,639 2,979 L06, 395 157 67,379 102 67,777 107 81,194 US 89,337 130 98t 241 138 3,270 3,311 4,032 4,221 4,167 4,063 3,224 118,188 135,033 138,975 136,702 123,990 106,040 104,675 157 152 177 191 191 188 * Revised. • Data for March are the latest available. 1 See footnote marked " 1 " on p. 46 of the April 1940 SURVEY. f Revised series. Data revised beginning 1913; revision not shown above will appear in a subsequent monthly issue of the SXTBVEY. 101,766 110,079 " T68 120,075 81 81 99,303 105,510
@FedFRASER