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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 21, 1942 SUMMARY OF BUSINESS TRENDS Steel production continues to be maintained at high levels, the industry in April producing over 7 million tons of steel ingots— War Production Board through an order issued last 97.7 percent of Rapacity output. Despite some instances of week adopted a new policy of concentrating civilian produc- scrap shortages and furnace repairs, the industry more recently tion in small plants. The order applied specifically to the domes- has been operating Well over 98 percent of capacity—99.6 percent tic heating and cooking stove industry (except electric). It during the past week—with an increasing number of mills provided that after July 31 only those firms with sales of less devoted exclusively to the production of plates for ships. Transportation .difficulties have resulted in the steady decline than $2 million for the year ended June 30, 1941, which are not located in any of 39 designated labor shortage areas, may con- in crude petroleum production and have necessitated the rationing of gasoline which has already gone into effect along the tinue with the production of stoves. All other firms must convert their facilities to war production. Eastern coast. For the 4 weeks ended May 9, the daily average The Board estimates that 92 out of a total of 245 companies will production of crude petroleum amounted to 3.5 million barrels be forced to discontinue stove manufacture by the end of July compared with the 3.8 million barrels for the comparable period and that their plants with 25,000 of the 35,000 workers normally a year ago. In an effort to assume the oil traffic formerly carried by tankers to the Atlantic coast area, the railroads have employed in the industry will be released for war jobs. Preliminary estimates reveal that the Federal Reserve Board's endeavored to speed up the shipment of oil and gasoline by index of industrial production advanced to 174 (1935-39=100) rail. Tank car movements into the Eastern area have increased in April. It was 172 in February and March, and 171 in January. roughly sixfold since last November. The peak of this type of The 2-point rise is all the more significant in reflecting increased freight traffic to be attained thus far, was achieved during the production of war materials in that a number of conservation week ended May 2 when 20,640 tank cars were moved into the orders reducing output of civilian goods became effective during Atlantic area/ the month. SELECTED BUSINESS INDICATORS STEEL INGOT PRODUCTION CARLOADINGS ELECTRIC POWER PRODUCTION (PERCENT OF CAPACITY) 140 (BILLIONS OF KILOWATT HOURS) 4.5 NOS OF CARS) 1000 4.0 120 1942^ 3.5 100 60 €0 1941'•"*' -> 3.0 / 40 2.5 . 1 1 . ± 1 i 2.0 5.0 (MILLIONS OF BARRELS- DAILY AVERAGE) MISCELLANEOUS CARLOADINGS BITUMINOUS COAL PRODUCTION (DAILY AVERAGE-THOUSANDS OF TONS) CRUDE OIL RUNS - TO- STILLS 2500 (THOUSANDS OF CARS) 2000 4.5 4.0 1500 3.5 1000 3.0 500 i94QJ 1941 - ^ _! 0 2.5 y ....... ,_ | F. H.A. HOME MORTGAGES (BILLIONS OF DOLLARS) (NUMBER SELECTED FOR APPRAISAL ON HOMES TO BE, BU1.LT) l * (J926 • 100) ~~1 COTTON CONSUMPTION INDUSTRIAL PRODUCTION (DAILY AVERAGE - THOUSANDS OF BALES ) (SEASONALLY ADJUSTED, 1935-39 * 10o) 200 WEEKLY WHOLESALE PRICES COMMERCIAL LOANS 50 MONTHLY DATA MONTHLY DATA 45 180 - ^ 160 40 / 140 35 120 \^/~*^~ - 100 80 25 . . I . . I 1939 45994&—42 .....1..... , . i , . l . . i , , I l l u l n h t 20 ii'ln. , , 1, i , ,|..l. .1.. 1942 2 WEEKLY BUSINESS INDICATORS* [Weekly average 1935-39=100, except as indicated; data beginning January 1939 for most of the scries on a 1935-39 base and 1939 and 1040 data for the New York Times index of business activity, also data beginning September 1039 for the price index of 28 basic commodities, are shown in table 32, pp. 24-26, of the November 1941 SURREY] 1942 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© 132.4 133.1 132.9 132.6 127.9 126.2 103. 103.0 147.3 147.5 147. 5 146. 5 132. 3 131. 5 103. 5 102. 3 179.2 179.4 178.5 179.6 153.9 152.8 111. 2 109.1 167. 98.7 98.6 98.3 104.8 104.8 105. 99.3 99.9 99.6 98.6 95.8 95.6 95.6 95.5 167.4 166. 167.0 166.9 84.6 76.3 79.7 87.3 143.6 84.0 78.5 78.4 75.1 63.2 69.2 79.0 71.7 71.6 82.9 82.5 141.7 114.4 114.7 F i s h e r ' s index, 1926•• 100: 106.3 106.3 106.5 106.3 105.6 91.7 90.7 84.0 84.0 Combined index... 112.9 112.9 112.9 112.9 112.9 112.9 112.9 107. 104. 3 Copper, electrolytict 95.1 185. 5 186.1 115.5 110.0 Cotton, average, 10 markets!... 185.2 185.5 128.5 189. 188.4 206. Construction contractst Distribution: 128.7 131.7 132.1 129. S 132.1 128.4 104.1 104.4 Carloadings *.. 136 134 129 135 110 Department store sales. 1040 1941 1942 1940 1941 May May! May A p r . A p r May M a y M a y May 18 11 16 9 2 25 18 17 10 M a y M a y May A p r . A p r . M a y M a y M a y May 18 11 16 9 2 25 18 17 10 Employment, Detroit, factory, 1923-25*= 1 0 0 - . Finance: Bond yields? Stock prices! Banking: Debits, outside N . Y. C.J.___ Federal Reserve reporting member banks: Loans, total i_ Currency in circulation* Failures, commercial, 1939=100Production: Bituminous coal! Electric power Petroleum 1 Steel© 115.1 123.8 82.5 82.5 83.0 61.2 62.5 78.: 83.0 62.6 165.6 150.9 150.1 104.8 86.4 83.2 78.4 87.6 99.2 145.4 122.5 126.8 107.3 99.0 128.4 128.5 129.5 131.2 132.3 116.2 115. 5 100.9 101.0 187.0 186.8 185.2 183.7 183.4 144.5 144.3 119.9 119. 7 76.0 76.3 70.3 82.3 79.2 101.1 87.6 94.0 102.1 145.8 157.3 111.9 189. 5 187.6 144.5 155. 2 105.3 188.2 147.5 147. 7 130.3 117.9 96.8 153. 7 155. 3 141.4 113.1 185.7 185.0 179.3 175.0 122.4 100.3 118.1 120.8 115.1 • Data do not cover calendar weeks in all cases. ISeasonally adjusted. |Daily average. ©Index for week ended May 23 is"188.8. §For New York Times index, computed normal=100; this index has been revised back to January 1941; 1941 and 1942 data are shown on the revised basis beginning with the Jan. 15, 1942, and Feb. 26, 1942, issues, respectively. The Business Week index has also been revised for 1941 and 1942; 1941 data are correct as published only beginning with the issue of Feb. 5, 1942; 1942 revisions were first shown in the issue of Mar. 19. ©Thursday prices; August 1939=100. WEEKLY BUSINESS STATISTICS* 1942 M a y 16 COMMODITY PRICES, WHOLESALE Copper, electrolytic, New York! dol. perlb.. Cotton, middling, i ^ e " average, 10 markets!! do Food index (Dun and Bradstreet) do Finished steel, composite* dol. per ton Wheat, 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 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 guaranteed by U. S. GovL.---.do Loans, total.__ _do Commerc'l, indust'l, and agricult'l loans...do Interest rates, call loanst percent.. Interest rates, time loanst do Currency in circulation! mil. of dol... Exchange rates: Pound sterling! dollars Failures, commercial _. .number.. Security markets: Bond sales (N. Y. S> E.) thous. of dol. par valueBond yields (Moody'8)t percent.. Stock sales (N. Y. S. E.) thous. of shares.. Stock prices (N. Y. Times)X dol. per share.. Stock prices (Stand, and Poor's) (402)^-1935-39=100.. Industrials (354)_.._ do.... Public utilities (2S) _ do.... Railroads (20) do.... PRODUCTION, CONSTRUCTION, AND Production: DISTRIBUTION Bituminous coalf ...thous. of short tons Electric powerAmil. of kw.*hr_. Petroleum! ..... . thous. of bbl.. Steel© pet. of capacity.. Construction contract awards! thous. of dol Distribution: Freight carloadings, total cars Coal do Coke ...do.... Forest products. ...do Grains and grain products do Livestock ._ .do.... Merchandise, 1. c. 1 do Ore do.... Miscellaneous do Receipts: Cattle and calvest :— thousands.. Hogsf ..... , do... Wheat at primary markets. thous. of bu.. May 9 May 2 1941 1940 Apr. 25 Apr. 18 May 17 May 10 May 18 1939 May 11 May 20 | M a y 13 0.118 .202 3.68 56.73 1.17 0.118 .200 3.68 •56. 73 1.15 0.118 .202 3.66 56.73 1.13 0.118 .203 3.65 56.73 1.14 0.118 .126 2.93 56.73 0.118 .120 2.85 56.73 .91 0.112 .097 2.27 56.60 - .89 0.109 .104 2.33 56.60 1.05 0.008 0.099 2.27 55.70 .76 2.28 56. 10 .75 4,830 6,938 3,887 6,319 3,715 6,285 3,807 6,091 3,145 5,127 3,703 5,310 3,114 4,493 2,995 4,146 3,340 4,161 2,612 2,484 12,667 2,925 2,572 2,436 12,444 2,691 2,443 2,350 12, 662 2,815 2,400 2,296 12,470 2,752 2,415 2,259 12,502 2,886 2,239 2,184 13,458 5,689 2,229 2,184 13,440 5,711 2,518 2,474 13,094 6,300 2,507 2,467 12,877 6,131 2,576 2,564 10,005 4,244 2,575 2,564 9,967 4,186 25,241 5,116 20,221 13,910 2,666 11,001 6,669 " 1.00 1.25 11,864 •4.035 215 24,854 5,127 20,127 13, 792 2,679 11,008 6,649 1.00 1.25 11,853 -4.035 216 25,358 5,121 20,111 13, 730 2,675 11,094 6,726 1.00 1.25 11,751 •4.035 199 25,145 5,115 20,151 13,768 2,667 11,242 6,874 1.00 1.25 11,655 •4.035 233 24,725 5,118 20,170 13,764 2,682 11,332 6,048 1.00 1.25 11,637 • 4.035 224 23,616 23,846 5,440 5,435 17,709 17,789 10,910 10,952 3,111 3,137 9,892 9,953 5,568 5,604 ' 1.00 1.00 1.25 1.25 9,155 9,170 •4.030 . 248 19,928 5,315 14,949 19,741 5,318 14,922 9,032 2,434 8,654 4,404 1.00 1.25 7,594 •3.313 16,681 5,247 13,563 8,304 2,031 8,046 3,845 1.00 1.25 6,916 4.681 289 16, 719 5,249 13, 634 8,334 2,010 8,085 3,852 1.00 1.25 6,916 4.681 321 34,066 3.36 1,535 67.74 62.5 64.0 56.2 60.1 45,703 3.35 1,665 67.51 62.5 63.8 56.4 61.1 40,591 3.36 1.742 65.51 60.8 62.4 53.1 60.1 38,747 3.34 1.743 66.19 62.7 54.2 56.3 60.3 37,227 3.34 2,008 67.62 63.2 64.6 57.0 60.2 39,250 3.36 2,113 84.59 77.2 77.3 79.1 70.6 58,780 3.37 3,097 84.83 77.1 57,800 3.63 17,103 94.87 83.4 83.6 90.0 63.1 34,5-10 3.50 5,410 107.35 96.6 97.2 101.8 75.9 25,080 3.79 2,501 92.16 85.6 85.4 91.9 63.7 28,290 3.78 2,655 93.79 88.3 88.2 06.7 G7.4 1,894 3,351 3,544 1,877 3,305 3,335 98.9 23,053 1,916 3,273 3,581 97.6 17,8-11 1,919 3,30S 3,545 97.2 17,718 1,693 3,011 3,784 99.2 19,390 1,532 3,004 3.756 96.8 1,257 2,550 3,835 70.0 12.082 1,303 2,516 3,825 65.8 849 2,235 3,43S 45.4 12,019 839,253 167,809 14,316 50,618 35,145 11,698 98,433 86,800 374,434 858,904 169,419 14,056 50,407 36,193 13,885 112.736 78,997 383,211 861,353 169,659 14.048 51,260 35,677 13,785 123,580 70,911 382,433 846,562 166,618 13,925 49.718 36,172 12.803 129,436 58, 257 379,633 861,277 147,454 13,111 41,342 38,905 12.936 162.519 76,609 368,401 837,149 139,056 12,855 40,567 35,118 12,193 162,887 78,400 356,073 679,065 113,183 8,457 34,777 30,754 11,861 148,918 48,935 282,180 680,628 118,837 8,003 33,351 32,224 11,493 149,047 51,651 276,017 612,888 89,717 4,462 30.085 34,169 11,811 152,783 36.225 253,636 554,644 42,499 4,455 30,589 34,367 12,783 152,168 24,928 252,855 163 303 3,329 220 320 3,017 220 305 3,181 203 278 3,027 195 298 6,151 202 304 4,253 178 300 6,307 164 310 8,222 6,362 5,411 0.118 .202 56.73 1.16 4,018 7U0 72.7 2,387 8,643 4,414 1.00 1.25 7,610 •3.219 266 IDaily average. • Data do not cover calendar weeks in all cases. • Free rate. ^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. *New series. This series replaces the iron and steel composite price, which has been discontinued by the compiling source. ©Rate for week ended May 23 is 99.2; data for 1942 are based on estimated capacity as of Dec. 31,1941, of 88,570,000 tons 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. f 181 2,239 ~~3,4U347.0 11,275 MONTHLY BUSINESS STATISTICS Earlier data are available in monthly issues of the Survey and the 1940 Supplement 1943 April 1941 April 1943 February March 96.1 85.8 97.5 90.4 90.7 103.5 97.1 88.4 98.8 90.1 91.0 104.1 86.9 73.3 81.0 86.4 87.8 98.3 95.1 84.5 95.7 90.4 90.4 102.9 113.4 108.6 105.6 113.2 115.8 112.6 95.5 97.6 89.5 93.9 97.7 88.8 111.9 112.5 106.7 102.7 111.2 114.3 110.8 107.5 104.2 112.1 115.1 111.8 98.8 83.2 96.7 97.6 98.9 100.0 92.8 104.5 91.5 118.3 99.0 98.7 90.2 94.1 97.7 112.8 85.5 77.5 85.1 74.4 70.9 86.2 85.0 77.9 76.8 81.0 63.8 85.6 97.0 97.0 92.0' 101.3 95.3 109.3 95,5 94.6 91.1 95.0 85.2 104.0 97.8 98.2 92.3 102.8 93.8 113.8 96.2 96.1 90.6 94.3 87.7 109.2 94.9 85.9 100.1 . 110.1 97.0 91.7 93.4 91.0 132.7 116.7 99.9 88.7 97.0 81.8 96.3 86.4 126.5 97.5 79.3 71.0 108.2 69.3 78.0 72.9 77.0 78.1 58.9 51.9 115.3 103.9 115.5 104.7 101.4 95.6 121.8 107.8 102.5 90.4 97.1 107.4 97.4 83.4 103.6 97.9 97.0 95.9 85.6 84.3 97.9 83.0 95.2 81.0 105.3 88.7 111.4 86.8 69.6 61.1 30.3 29.5 104.3 93.3 89.3 78.6 71.0 58.8 102.9 94.5 95.2 110.5 97.1 93.6 133.1 100.8 97.1 96.4 126.5 79.5 108.8 . 77.7 77.1 58.3 116.7 116.6 101.5 124.3 102.6 107.7 97.4 103.8 97.1 85.6 98.2 96.6 106.6 112.6 69.8 30.3 108.7 89.7 71.0 102.9 95.7 110.2 98.0 94.1 131.8 100.6 97.1 96.4 126.7 79.2 108.8 77.7 58.4 119.2 123.5 101.3 126.7 102.8 108.0 97.5 104.6 97.1 85.6 98.5 97.7 107.8 113.8 70.6 30.3 111.0 90.3 72.5 102.9 CONSTRUCTION AND REAL ESTATE New dwelling units provided and permit valuation of building construction (based on building permits), U. S. Dept. of Labor indexes: Number of new dwelling units provided, 1935-39=100- 220.5 273.9 223.5 186.0 Permit valuation: Total building construction.__ do 103.4 90.8 192.9 129.9 New residential buildings do 145.5 241.1 161.0 168.0 New nonresidential buildings do 6S.6 168.4 43.1 104.2 95.8 125.6 Additions, alterations, and repairs...do—.. 93.4 74.8 Contract awards: F. W. Dodge Corporation (37 States): Total projects._ _ number.. 33,167 36,380 40,000 6fl, 843 Total valuation _ thous. of dol-. 498,742 106,675 433,557 610,799 Building, total _. d o . - . 397,036 309,766 337,620 451,110 Highway construction: Concrete pavement contract awards: 5,042 3,464 Total thous. of sq. yd.. 8,914 7,091 Airports ... do 1,358 1,451 3,972 5,416 Roads..: __ ...do 1,727 2,087 1,110 2,061 1,392 Streets and alleys. do 1,596 1,437 903 FINANCE Banking: Bank debits, total (141 cities) mils, of d o l - 42,461 38,731 37,773 44,807 New York City _ d o . - - 16,023 15,657 14,242 17,056 26,438 23,074 23,531 27,751 Outside New York City __ do Savings deposits: Savings banks in New York State: 5,627 5,401 Amount due depositors do 5,373 5,392 r Revised. *New scries. See note on corresponding item in the'April 1942 SURVEY. t Revised series. See note_on_corresponding_itemJn_the-April_1942_SuaVEY. 1942 April 1941 1942 April FebruMarch ary FINANCE—Continued COMMODITY PRICES Cost of living: National Industrial Conference Board: Combined indexf 1923=100. Clothing ___ _-_do.-Foodt do... Fuel and light —do.... Housing do... Sundries do.— Retail prices: Fairchild's index: Combined index Dec. 31,1940=100. Apparel: ' Infants* do... Men's do.. . Women's.do Home furnishings do.... Piecegoods do.— Wholesale prices (Dept. of Labor indexes): Combined index (889 quotations)....1926=100.. Economic classes: Manufactured products do.... Raw materials do Semimanufactured articles do Farm products __ do Grains . do Livestock and poultry do Corrmodities other than farm products*do Foods _ do Cereal products* _ do Dairy products do Fruits and vegetables do..-. Meats _ _do Commodities other than farm products and foods ._ 1926^100.. Building materials do Brick and tile .._ do..-. Cement ._ do Lumber .do Paints and paint materials* do Chemicals and allied products do Chemicals.do Drugs and Pharmaceuticals do Fertilizer materials do Oils and fats* do.— Fuel and lighting materials do.... - Gas ._ do . Petroleum products. do Hides and leather products do Hides and skins.—— do Leather do . Shoes _ do House-furnishing goods do Furnishings . do Furniture do Metals and metal products do Iron and steel _ do Metals, nonferrous— do Plumbing and heating equipment.do Textile products do Clothing do.... Cotton goods-._____ do Hosiery and underwear do Rayon*.. .do Woolen and worsted goods do Miscellaneous do Automobile tires and tubes do Paper and pulp do Earlier data are available in monthly issues of the Surrey and the 1940 Supplement Life insurance: Association of Life Insurance Presidents: Insurance written: Policies and certifs., total number thousands.. '21,330 784,359 676,962 67,661 23,579 32,340 Group. do 153,8S6 502,034 413,051 Industrial _. do 199,783 258,746 226,571 Ordinary ...do Value, total thous. of dol.. 625,083 361,627 650,649 124,823 51,096 50,231 Group do 139,022 147,462 126,492 Industrial do 361,238 163,069 473,926 Ordinary do Life Insurance Sales Research Bureau: 462,761 >07,203 334,538 Insurance, written, ordinary, total do 37,131 47,503 51,310 New England do 118,591 61,810 .75,355 Middle Atlantic do .06,487 36,931 .41,939 East North Central do 44,931 56,020 60,218 West North Central do 45,968 60,599 60,754 South Atlantic. do 18,950 24,583 24,742 East South Central .do West South Central . d o . , . . 32,604 43,591 44,577 11,998 15,854 15,345 Mountain _ _do. 46,101 50,312 60,293 Pacific _do. Capital flotations: Securities issued, total.-.. ——do._ 262,148 921,642 178,528 122,021 157,820 746,802 New capital, total—. do 157,820 P45,952 122,021 Domestic, total do 97,114 39,470 55,209 Corporate, total . do Farm loan and other Qov. agen.-do 9,720 >45,442 36,890 Municipal, State, etc do 50,986 61,040 29,922 Refunding, total ...^ do 104,328 74,840 56,508 Domestic, total ., do 104,328 ,74,840 56,50S 18,527 107,181 18,901 Corporate, total do Farm loan and other Qov. agen—.do 80,540 27,725 26,580 Municipal, State, etc do 5,261 39,935 11,027 Corporate securities issued by type of borrower, total _ _ thous. of doL. .15,641 .46,650 74,109 New capital, total _ . d o . . . 97,114 39,470 55,209 96,010 8,781 24,067 Industrial ___do 604 18,401 25,970 Public utilities -do... 0 9,100 3,750 Railroads do... Refunding, total. do.— 18,257 ,07,181 18,901 Industrial do._. 12,977 37,007 12,626 5,550 39,186 6, 275 Public utilities do— 0 4,000 0 Railroads do... Security markets: Bonds: Prices: Average price of all listed bonds (N. Y. 8.E.) ..dollars- 95.63 94.32 95.13 97.54 98.25 97.18 Domestic do. 60.29 47.01 57.40 Foreign do_ Value, issues listed on N. Y. S. E.: Face value, all issues mil. of dol— 60,572 55,678 60,532 57,466 51,416 57,411 Domestic issues .-.do 3,105 4,262 3,121 Foreign issues... do Market value, all issues.-. _.do-_. 57,924 52,518 57,584 56,051 50,515 55,793 Domestic — do 1,872 2,003 1,791 Foreign --do Stocks: Prices: Average price of all listed shares (N. Y. 47.8 51.4 42.6 S.E.) Dec. 31, 1924=100 Shares listed, N . Y . S. E.: Market value, all listed shares mil. of dol— 31,449 37,711 35,234 Number of shares listed millions.. 1,469 1,463 1,467 Cash dividend payments and rates (Moody's): Total annual payments at current rates (600 companies) mil. of dol— 1,805.62 1,817.77 1,857.45 938.08 938.08 Number of shares, adjusted millions.. Dividend rate per share (weighted average) 1.94 1.98 1.92 (600 companies) dollars— 3.01 2.88 2.81 Banks (21 companies).. _ do 1.92 1.99 1.93 Industrials (492 companies) . do. — 2.54 2.69 2.69 Insurance (21 companies) —do.— 1.94 1.81 1.77 Public utilities (30 companies) do 1.56 1.77 1.77 Rails (36 companies) ...do.-. FOODSTUFFS AND TOBACCO Livestock: Cattle and calves: Receipts, principal mkts..thous. of animals.. Disposition: Local slaughter do-.. Shipments, total do Stocker and feeder do Hogs: Receipts, principal markets-do— Disposition: Local slaughter. ..do.— Shipments, total do.— Stocker and feeder do.— Sheep and lambs: Receipts, principal markets ..do.— Disposition: Local slaughter — —.—do.— Shipments, total —do.— Stocker and feeder _ .do— 724,155 55,102 455,566 213,487 652,459 97,826 140,735 413,89S 552,044 42,030 138,70S 126,330 53,182 52,173 24,960 46,534 14,533 53,594 191,148 103,551 103,551 73,035 8,860 21,606 87,597 87,597 39,209 21,315 27,073 112,294 73,085 40,818 24,072 5,f>60 39,209 6,000 32,236 0 95.97 97.98 58.95 60,579 57,471 3,108 58,140 56,308 1,832 44.5 32,844 1,469 1,850.15 1.97 2.81 1.98 2.69 1.80 L77 1,815 1,593 1,467 1,741 1,085 724 341 955 637 302 973 479 199 1,094 612 264 2,610 2,463 2,694 1,981 623 54 1,748 710 51 1,995 690 52 1,618 1,535 1,866 972 648 113 907 629 126 1,136 721 164 2,020 612 57 1,042 819 224 MONTHLY BUSINESS STATISTICS—Continued Earlier daU are available in monthly issues of the Survey and the 1940 Supplement 1943 1941 'April April 1943 March 1943 1941 Earlier data are arail&ble in monthly issues of the Survey and the 1940 Supplement March March FOODSTUFFS AND TOBACCO—Con. EMPLOYMENT AND WAGES—Con. Tropical products—Continued: Coffee, visible supply, U. S thous. of bags.Raw sugar, United States: Melting, 8 ports'long tons.Stocks at refineries, end of month do Tobacco, manufactured products: Consumption (tax-paid withdrawals): Small cigarettes millions.Large cigars _-thousands.Mfd. tobacco and snuff tbous. of lbs._ Wages—Continued. Factory average hourly earnings—Continued. V. S. Dept of Labor (90 industries) Durable goods: Metals, nonferrous, and products-dollars. Brass, bronze, and copper prod. .do—. Stone, clay, and glass products do... Brick, tile, and terra cotta do... Glass. _ do... Transportation equipment do... Aircraft do... Automobiles.. do... Shipbuilding do... Nondurable goods ...do... Chem., petroleum, and coal prod. .do... Chemicals. .do... Paints and varnishes do—. Petroleum refining do... Rayon and allied products.. do... Food and kindred products do—. Baking. do... Slaughtering and meat packing, .do... Leather and its manufactures do... Boots and shoes ..do-.. Paper and printing do... Paper and pulp ...do... Rubber and products do... Rubber tires and inner tubes do—. Textiles and their products do... Fabrics do... Wearing apparel.. do... Tobacco manufactures: — do... 1,968 850 1,102 319,209 442,264 181,387 179,311 460,549 199,66.1 271,426 209,257 17,380 15,854 16,628 503,536 190,585 441,805 27,824 29,127 24,426 17,016 489,727 27,919 METALS AND MANUFACTURES Copper: Production: Mine or smelter (including custom intake). ___ short tons - 94,314 88,042 80,148 1 92,106 Refinery do... 90, 672 89,687 81,724 89,552 106,701 123,629 107,616 111, 062 Deliveries; refined, total do Domestic. -.do... 106,701 123, 580 107,616 111,062 79,537 77,329 Stocks, refined, end of month.. do... 83,789 PAPEB AND PRINTING Newsprint: Canada: Production .-short tons.. 277,741 Shipments from mills do 238,346 Stocks, at mills, end of month do 184,021 United States: Consumption by publishers do 238,493 Production do 82,669 81,182 Shipments from mills do Stocks, end of month: At mills. do. 12,648 At publishers ....do. 583,384 44,843 In transit to publishers do 279,996 278,101 285,789 264, 621 180,389 156,957 295,835 308,166 144,626 !56,43l 216,109 87,000 76,234 91,487 75,247 251,042 80,923 82,176 14,303 12,414 255,588 370,101 46,679 55,336 11,161 368,520 47,376 STONE, CLAY, AND GLASS PRODUCTS Portland cement: Production -thous. of bbL. 14,068 12,196 14,774 14,132 Shipments do 25,125 24,056 Stocks, finished, end of month do 6,650 6,207 Stocks, clinker, end of month do Plate glass, polished, production.thous. of sq. ft-. 5,570 18,344 Window glass, production,. thous. of boxes.. 1,644 1,400 10,787 8,296 25,668 5,840 5,600 1,457 12,733 12,563 •25,831 ' 6,570 5,565 1,583 TEXTILE PRODUCTS Cotton: Consumption bales.. 998,754 920,950 893,745 966,631 Rayon: 36.0 38.7 37.5 Deliveries (consumption), yarn mil. of lb.. '40.0 4.4 7.4 Stocks, yarn, end of mo do,... 5.4 M.I TRANSPORTATION EQUIPMENT American Railway Car Institute: Shipments: Freight cars, total,.Domestic. Passenger cars, total Domestic number.. ..do —do do 7,957 7,273 10 10 5,449 5,301 18 18 1943 1941 March March 7,781 7,781 28 28 7,752 7,652 24 20 1943 January February EMPLOYMENT AND WAGES National Industrial Conference Board: Average weekly hours per worker in factories hours. Factory average weekly earnings. dollarsFactory average hourly earnings. do... Labor conditions: Average weekly hours per worker in factories: U. S. Dept. of Labor (90 industries)..hours. Wages: Factory average weekly earnings: U. S. Dept of Labor (90 industries)..dollarsDurable goods. do... Nondurable goods do... Factory average hourly earnings: U. S. Dept- of Labor (90 industries)—-do. __ Durable goods __. do.,. Iron and steel, etc., not incl. machy.do... Blast furnaces, steel works, etc...do... Hardware do... Struct'l and ornam'I metalwork__do... Tin cans and other tinware. do... Lumber and allied products do,.. Furniture do,__ Lumber, sawmills. _ do... Machinery, excl. transp. equip.._'_.do... Agric'l Implements (incl. trac's)..do... Electrical machinery, etc do.... Engines, turbines, etc do—. Foundry and machine-shop prod-do... Machine tools do..., Radio and phonographs do ' Revised. • Less than $500,000. 42.7 38.14 41.2 31.80 .769 42.4 37.47 .878 42.4 '37.53 .880 42.5 40.4 41.5 42.2 36.15 42.00 27.72 29.11 33.49 23.63 • 35.11 • 40.91 26.95 '35.71 ' 41.52 '27.34 .809 .899 .916 .991 .765 .904 .720 .620 .659 .59-1 .914 .954 .906 1.130 .881 .943 .751 .697 .768 .795 .873 .690 .756 .639 .541 .565 .523 .778 .820 .780 .873 .769 .799 .801 .889 .904 .986 .752 .875 '.713 .607 '.644 '.576 .899 .928 .898 1.110 .874 .926 .739 .803 .893 .909 .988 .747 '.895 .709 .613 '.651 '.584 .906 '.940 .903 1.101 .879 .928 .748 1943 Janu- February ary 0.865 '.948 .751. .669 .825 1.069 .957 1.168 1.079 .701 .886 .949 .824 1.107 .800 .718 .697 .791 .649 .616 .852 '.760 '.887 1.085 .589 .574 .620 .549 0.872 '.957 .759 '.675 '.830 "1.059 .948 1.158 1.086 '.701 .881 .950 '.832 1.104 .812 '.718 .696 .786 .658 '.629 .854 '.766 .882 '1.074 .592 .574 .629 .544 .894 1.079 .596 .576 .633 .537 0.748 .825 .689 .594 .778 .920 .783 .982 .890 .624 .766 .829 .749 .967 .700 .655 .641 .6S5 .572 .549 .807 .664 .799 .992 .517 .494 .561 .497 709 1,107 1,345 2,335 1,069 33 4 1,290 37 17 2,315 19 0 102 47 49 6 0 607 558 49 0 1 268 73 186 653 180 4 3 164 44 109 10 1 1,181 1,061 118 0 2 100 263 161 35 4 67 55 12 71 38 33 39 34 5 194 171 15 8 2 89 26 12 2 11 11 0.884 .970 .762 .685 .826 1.050 .951 1.136 1.075 .706 .889 .962 .838 1.104 .812 .723 .698 .791 .663 .633 FINANCE Securities issued (Securities and Exchange Commission): Estimated gross proceeds, total mil. of doL. By types of security: Bonds, notes, and debentures do Preferred stock. . do_ Common stock. do. By types of issuers: Corporate, total do Industrial :do Public utility do.... Rail _ do. Other .. do. Non-corporate, total _ ...do, U. S. Government and agencies do State and municipal do Foreign Government do Non-profit agencies do New corporate security issues: Estimated net proceeds, total do.... Proposed uses of proceeds: New money, total do Plant and equipment ...do Working capital _._do._Repayment of debt and retirement of stock, t o t a l — mil. of dolFundeddebt .do.... Other debt .do.... Preferred stock. do Other purposes do Proposed uses of proceeds by major groups: Industrial, total net proceeds._mil.of dol._ New money do Repayment of debt and retirement of stock... mil. of dol.. Public utility, total net proceeds...do New money— do Repayment of debt and retirement of stock .mil. of dol.. Railroad, total net proceeds do_... New money do.,.. Repayment of debt and retirement of stock .mil. of doL. Other corporate, total net proceeds.do New money— -do Repayment of debt and retirement of stock mil. of dol.. C). 61 41 15 5 C) SO 78 39 35 4 0 2,257 2 ,216 . 0 () -38 11 46 25 71 17 21 48 8 52 184 46 40 137 8 10 4 4 5 1 1 0 0 0 <) 107 18 16 34 25 (*) METALS AND MANUFACTURES Steel, crude and semimanufactured: Steel castings: Orders, new, total short tons. 211,081 126,140 150,551 128.6 107.8 180.4 Percent of capacity.... _ Railway specialties short tons. 43,997 47,408 35,723 Production, total -do... 146,507 95,185 134,778 81.3 115.2 125.2 Percent of capacity Railway specialties short tons. 48,335 30,733 46,357 179,880 153.7 54,409 133,726 114.3 45,013 TEXTILE PRODUCTS Finished cotton cloth, production: Bleached, plain thous. of yd. 191,654 175,144 192,229 Dyed, colors do... 145,169 141,056 133,624 8,547 6,270 6,010 Dyed, black do... Printed d o . _ 88,674 126,671 82,267 S.«OVERHMIHT M1MTIH* OPFICIi 1141 176,227 126,465 6,553 83,791
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