SCB_081942

SURVEY OF

AUGUST 1942

UNITED STATES DEPARTMENT OF COMMERCE

BUREAU OF FOREIGN AND DOMESTIC COMMERCE

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

SURVEY OFCURRENT BUSINESS

AUGUST 1942

ECONOMIC HIGH LIGHTS 2

THE BUSINESS SITUATION 3

Industrial Conversion 3

Tin 6

Construction 7

Fats and Oils 8

NATIONAL INCOME AND THE WAR EFFORT—FIRST HALF

OF 1942 10

THE LUMBER INDUSTRY UNDER WARTIME CONDITIONS 18

STATISTICAL DATA:

Estimated Sales of all Retail Stores by Kinds of Business—Table 15 24

Department Store Sales, Richmond Federal Reserve District—Table 16 25

Department Store Sales, San Francisco Federal Reserve District—Table 17 26

Department Store Sales, Philadelphia Federal Reserve District—Table 18 26

Published by the Department of Commerce, JESSE H. JONES, Secretary, and issued throughthe Bureau of Foreign and Domestic Commerce, CARROLL L. WILSON, Director

Volume 22 Number 8

Subscription price of the monthly and weekly issues of the SURVEY OF CURRENT BUSINESS, 32 a year. Single-copy price: Monthly, 15 cents; weekly, 5 cent**Foreign subscriptions, 33.50. Price of the 1940 Supplement is 40 cents. Make remittances only to

Superintendent of Documents, Washington, D. C.


SURVEY OF CURRENT BUSINESS August 1942

Economic HighlightsBusiness Inventories at New All-Time High

Business inventories continue to expand . . . in face of needfor minimizing them and War Production Board's efforts to keepstocks at practicable working minima. Past inventory-outputrelationships indicate inventories of manufacturers and whole-salers are far above current needs . .

BILLIONS OF DOLLARS20

2 1936 1937 1938 g« 1939 1940 1941 l 9 4 ,^.J / 4

Value of Business Inventories.

tories $17.2 billions at end of June up $1.5 billion since NewYear's. This rise compares with full-year increase of $3.8 billionduring 1941 when expanding production and fears of shortagesand higher prices produced record accumulations.

Expansion of retail inventories from 1941 year end $6.6 billionto total of $7.5 billion during the first half of 1942 has almostequaled the billion dollar increase recorded for the entire year1941. On the other hand retail sales are beginning to decline.

Imminent contraction of civilian economy is indicated byrecent decline in wholesale inventories to levels of last Januarywhile war demands and commodity shortages limit replacementsfrom manufacturers

Sales of Nonautomotive Durable-Goods StoresBegin Decline

Restrictive effect of war program on civilian goods, alreadyfelt in drastically reduced automobile sales, has now spread toother durables. Contrary to usual seasonal increases in latespring, total dollar sales of durable goods stores, other than

MILLIONS OF DOLLARS8 0 0

700

600

500

400

3001940 1941 1942

D.D. 42 -313

Sales of Retail Durable-Goods Stores Other than Automotive.

automotive, declined in May to $609 million . . . lower than thesame month of the preceding year for the first time since 1938.June sales, estimated at $577 million, were also below those ofJune 1941. In physical quantity these declines were muchgreater since price increases over last year range from 10 to 20percent for various types of durable goods. Nearly all itemssold by these stores—building materials, hardware, farm imple-ments, household appliances, furniture, and jewelry—have beensubject to priorities and other restrictions. In spite of expand-ing consumer income, sales outlook is not bright . . . curtail-ment in residential construction is affecting demand. Presentstocks in many cases cannot be duplicated.

rzra^ \ 1 1 ! 1 / I 1 I 1 ! 1 I ! 1 1 1 1 1 1 1 ! 1 1 1 1 1 1 1 1 1

Bank Loans Down, Holdings of U. S. Obligations Up

Opposing movements by twosets of forces in the currentanti-inflation str uggle areshown on the accompanyingchart. Favorable develop-ment is the reduction in loans(excluding loans for purchasing

or carrying securities, realestate, and loans to banks) ofFederal Reserve member banks

in 101 cities . . . from Marchhigh of $9.3 billion to $8.4billion August 5. Importantfactor in this decline is scarcityof automotive and other dur-able-goods paper due to re-duced sales. Less important iscurtailment of personal loansresulting from anti-inflationrestrictions (Regulation W).


2 5

20

15

10

5

0

DEMAND DEAD JUSTE

«°°°* I

POSITS, ^ ^

° * " * " U. S. GOVERNMENT OBLIGATIONS ^(DIRECT AND GUARANTEED)

LOANS(PRIMARILY BUS

NESOAV NEWEST £N0

. . . .

/

1939

Loans, U. S. Government Obligations, and Demand Deposits for ReportingMember Banks in 101 Cities.

Opposing development is risein these commercial banks'holdings of Government obliga-tions from $14.8 billion on De-cember 3, 1941 to $19.4 billionon August 5 . . . up $4.6 billionsince Pearl Harbor. Indicatesextent new bank credit hasbeen utilized as a source of warfunds . . . demand deposits ofthese banks up $2 billion overthe same period. Since springof 1938, Government obliga-tions held by these banks havedoubled from about $9 billionto more than $19 billion.If this trend continues, diffi-culties of enforcing price ceil-ings may be correspondinglyincreased.


August 1942 SURVEY OF CURRENT BUSINESS

The Business SituationONCE again the industrial communique for the

month is: Sighted record, smashed same. This hasbeen going on intermittently for 2){years. The previouspeak (as measured by the Federal Reserve adjustedindex) occurred in May 1937 at the 121 level. This 1937peak was unsurpassed until November 1939 when theoutput of our industries moved into new high groundas a result of the European war. From then until thisJuly, in 20 out of the intervening 32 months, new produc-tion peaks have been set.

These peaks have a clear interpretation: They areachieved, under the guidance of management, by morelabor hours spent in producing and processing moreraw materials with the aid of more plant and equipment.Some rough indications of the increases that haveoccurred in these factors of production are shown inthe following table:

Labor force (estimates U. S. Depart-ment of Commerce)

Total nonagricultural employmentexcluding military and navalforces2 (U. S. Department ofLabor)

Employees in nonagriculturalestablishments, excluding mili-tary and naval forces .3

Employees in manufacturingestablishments.4 __

Average hours worked per week inm anufacturing establishments (U.S.Department of Labor)

Machine-tool shipments, cumulatedsince Jan 1 1940 5

New private producers' plant andequipment expenditures, cumu-lated since Jan. 1, 1940 (U. S.Department of Commerce)

Metallic raw materials (U. S. Depart-ment of Commerce)

Unit

Million....

Million

Million...-

Million... .

Hours

Mil . dol

Bil. dol

1939 = 100.-

1939

154.8

135.0

128.9

19.7

137.6

100

1940

155.4

136.2

130.1

i 10. 4

138.1

443

11

129

1941

156.9

139.4

133.2

i 12.1

140.5

1,214

25

167

June1942

(exceptas

noted)

57.8

41.4

35.3

13.1

42.6

1,802

32

189

1 Monthly average for the year.2 Includes self-employed persons, casual workers, and domestic servants.3 Excludes self-employed persons, casual workers, and domestic servants.4 Excludes self-employed persons.5 Data through November 1941 from the National Machine Tool Builders Asso-

ciation, thereafter from the War Production Board.

In June 1942, as compared to 1939, there were nearly6.5 million more people employed in nonagriculturalestablishments of which almost 3.5 million were addedto the pay rolls of manufacturing establishments. Theworkweek in manufacturing is now about one-seventhlonger than in 1939. Since January 1, 1940, manu-factures had purchased and, ignoring depreciation, werein June 1942 using $1.8 billion more machine tools thanin 1939. Producers7 privately financed plant andequipment had been expanded in the vicinity of 29billion dollars over the same period; this sum excludesmany billions of Government-financed plant and equip-ment. Finally the index of 6 raw metals (a very roughmeasure because of the weighting problem) showed very

considerably augmented quantities in 1942 relative to1939.

Obviously our economy can go on achieving newpeaks just as long, and no longer, as more labor hours,more machines and more raw materials are available.How close we are to exhausting the available quantitiesof these factors of production, no one can say. It isperfectly clear, however, that our economy has by nomeans yet reached its ceiling of output.

Important in appraising the production outlook forfuture months is the fact that virtually the entire risein aggregate industrial production over the past yearhas been caused by the rapid rise in the output ofdurable goods. The output of nondurable goods hassagged in recent months and is now appreciably belowits peak of last November. Mineral production mean-while has moved almost horizontally since a year ago.Hence the volume of durable manufactures now ex-ceeds that of the nondurable by a quite unprecedentedmargin. In normal times the usual situation is justthe reverse.

Table 1.—Composition of the Industrial Production Index

Group

Durable goodsNondurable goodsMinerals _ _ . . . . . _

Total index

Points in total index

June1937

495317

119

June1940

505418

122

June1941

746520

159

June1942

926520

177

June1937

41.244.514. 3

100. 0

Percent of total

June1940

41.044.214.8

100.0

June1941

46.540.912.6

100.0

June1942

52J036.711.3

ioo:o

Source: Board of Governors of the Federal Reserve System.

Since ships, planes, tanks, and other ordnance itemsconstitute the big bulk of the war goods scheduled forfuture production, it is clear that the durable-goodsindustries and especially the metarworking industrieswill dominate the industrial scene for the duration.Plence our industrial output can continue to rise aslong, chiefly, as our supplies of metallic raw materialsmaintain their upward trend in quantity.

Industrial Conversion Far From Complete

The term " conversion" is widely used in relation tothe degree in which former peace-goods industries arenow turning out w ar goods. This is really a summaryterm for all the various ways of reshuffling and regroup-ing productive resources that may be necessary to adaptthe economy to new circumstances. It has assumedspecial significance at present because of the urgentneed we are experiencing for withdrawing management,equipment, labor, and materials from civilian uses andrealigning them directly or indirectly to war purposes.Because conversion occurs in so many and such different


SURVEY OF CURRENT BUSINESS August 1942

forms, it is virtually hopeless to try to measure at allaccurately the degree to which a given industry hasbeen "converted" from peace to war work. Indeed,in many cases one might as well try to measure theconversion of Manhattan Island of colonial days to themetropolis of today. Following are some of the salientaspects of conversion that bear on the present outlook.

(1) Conversion of product-use.—This type of con-version (or diversion) involves no significant change inindustrial facilities or work force since the end-productis merely transferred from civilian to war uses. In-stances of end-products so converted are numerous,such as clothing for soldiers, automobiles for transport-ing troops, manufactured and canned foods for theArmy and so on. Semimanufactures and parts areeven more frequently shifted from some peacetime itemto a new war product, such as the shift of an internal-combustion engine from a truck to a tank. Anothervariant is the diversion of materials, such as steel,copper, and others, to war uses. Transportation, stor-age, power, and other industries also come in forsimilar conversion of their services to war purposes.

(2) Plant conversion.—This form covers an almostinfinite variety of changes in structures, machinery,and production methods. In some instances, only theshell of the factory building, after being completelyreequipped with new machinery, has survived the con-version process. At the other extreme, sometimes onlya new machine or two has been added to enable a plantto meet the specifications of new war products or ofthe materials, parts, and subassemblies of war products.The proportion of old machinery and equipment thatcan be retained and utilized in the converted plantvaries greatly. During conversion, moreover, additionsare sometimes made to plant and equipment whichconstitute in effect an expansion of the enterprise.

(3) Changes in technology, degree oj integration, etc.,during conversion.—In setting up the production linesfor new war products in a converted plant, it is oftenpossible to adopt radical innovations in technologywhich greatly increase output per dollar of investment,per man-hour or both. Or a plant which formerlymade most of its own parts and subassemblies may,after conversion, rely upon outside suppliers for mostof these. Such changes in the degree of integrationand in technology may greatly transform the essential•character of a converted plant.

(4) Increase in plant utilization.—Due to the pressureof military needs, many converted war plants are beingoperated more hours per week than previously wascustomary. This means that the peacetime buildingsand machinery which proved adaptable to war outputare often now utilized more continuously so that theestablishment is able to turn out more product perunit of invested capital.

(5) Conversion of labor force.—Labor conversion is as

distinct a feature of this process as any other. Newwar plants must assemble and train sizable new workforces, often in places remote from surpluses of suitablelabor. The establishment to be converted, in contrast,already has a work force familiar with its equipmentand plant operations, insofar as these can be carriedover into the converted production setup. But it isoften difficult to hold the work force together duringthe interim period of inactivity. Plants converted towar work, moreover, generally require a greater propor-tion of skilled workers. In order to approach 168-hour operation per week, they also have to expandwork forces considerably. Decided changes thus mayoccur in the size and character of a plant's work forceas the result of conversion.

It may also be noted that measurement of the num-ber of workers engaged in war work presents obviousdifficulties. Conversion or diversion of the end-productto war work may be deemed automatically to convertthe workers concerned into war workers. Hence a warworker may be a machinist working on a gun in anordnance plant or a steel worker making the steel thatgoes into the gun or an iron miner extracting the orethat goes into the steel or a merchant sailor on the boatthat transports the iron ore down the Great Lakes.

(6) Management.—Of the various factors of produc-tion, management—the "know-how77 factor—is in manyrespects perhaps the most subject to real conversion ascontrasted with transformation. The management,after being converted from its peacetime objective tonew goals of war output, makes changes of the fore-mentioned types which actually result in transformingthe enterprise.

To sum up, conversion may mean anything from novisible change in an industry, other than a differentuser of the same end-product, to a complete reshufflingof buildings, machinery, technology, plant utilization,labor, and management, with changes in the quantity,quality, and importance of each such element in thecontribution it makes to the final product—which mayitself be nearly the same or completely different.

Clearly some of the above types of conversion aremore difficult and time consuming to effect than others.Hence it is that industry conversion to war work isstill far from complete. In some industries, in fact, ithas been easier to build new plants and get them intooperation than to convert old ones. This explains thefact that in such industries the output to be expectedfrom new plants will substantially equal that fromconverted plants.

The time needed for building and equipping newplants or converting old ones has accounted for therelative lag in arms output until recently. Since manywar plants, both new and converted, are just nowgetting into operation, the big push in w ar output isjust now about to get under way in earnest.


August 1942 SURVEY OF CUREENT BUSINESS

Severest Adjustments Still Ahead.

The rapid acceleration of war output from here onwill entrain the most uprooting adjustments of theconversion period. Getting the last few million work-ers needed in the war program will entail far greatershifts in the location and occupation of those alreadyin the work force and the recruiting of many more newworkers not hitherto employed. Whereas formerlythere was a large surplus of unemployed to draw on,that surplus is now close to a minimum and the Armywill induct many thousands of those now activelyemployed. Moreover, many war workers came fromcurtailed civilian-goods industries. Hence the bigdrive is actually still to come to enlist in industryseveral million more persons not now included in thework force. Most of the new workers will of necessitybe women exchanging home work for industrial em-ployment; approximately 4 million more women willbe needed to round out war labor requirements.

Even greater will be the pressure for more materials.While manufacturers7 inventories will meet a part ofthe augmented demand, the volume of raw materialsneeded for an arms output more than twice that of thefirst half year will necessarily be much larger. Al-though raw material supplies are in most cases increas-ing, war needs are increasing still faster. Hence thematerial shortages are acute and the allocation of ma-terials to various uses in order of priority has emergedas the central economic problem of the war period fromhere on.

It is this need for conserving materials and obtainingmanpower for the war effort that will accentuate therate, scope, and intensity of the economic adjustmentsnecessary to complete the conversion of our economyto war. Further use of the conservation or " M " ordersby the War Production Board in controlling the flow ofmaterials and of the "L" orders limiting output ofdesignated articles, plus more effective allocation ofmaterials and the use of priorities, will greatly increasethe pressure on nonessential industries. For most con-cerns so affected, the chief hope of survival will bethat of converting to some form of war goods output.

The pace and nature of these adjustments willnaturally be strongly influenced by developments onthe various world-wide battle fronts. This is becausethe objectives of the war effort must constantly beadjusted to keep them in a balanced relation to theprogress of the war. Hence the shape of things to comewill be foreshadowed in the war communiques.

Maximum Pressure on Price Ceilings Still to Come.

The rate of growth of income payments has beenslowed from what it would have been otherwise bycurtailment of civilian goods enterprises. At the sametime, consumers are using part of their rising incomes topay off debts and to increase their savings. After abuying spree late last summer and autumn and early

this year, they have been temporarily content with thestocks of goods they have accumulated with the resultthat retail sales have experienced a decided drop.

The real pressure against price ceilings seems destinedto increase beginning in the near future. On thepurchasing power side is the prospect for more rapidlyrising income payments. As the output of war goodsclimbs, income payments will reflect the speed-up byrising for a while at a faster rate. Whatever wage in-creases may be granted, will reinforce this tendency.Moreover, by the end of this year, the bulk of consumershort-term debts will be paid off to the extent, say, ofabout 4 billion dollars for the year. Thereafter thesefunds will be freed for other uses.

At the present time, consumers are saving at anunprecedented rate. But many if not most of them arestill comfortably situated with respect to supplies ofthe goods that would cause the greatest wrench todispense with. Their own stocks are undoubtedlylarge and so are those of retailers. This situation willbefore long become much less favorable as the output ofmany consumer goods shrinks and as stocks of theirown and those in retailers' hands are steadily exhausted.When the time comes for consumers to get along withoutitems of food or clothing or other articles that have beenwoven into daily long-standing habits of consumption,then will come the real test. Consumers will at thattime either forego established consumption patterns andincrease the proportion of their incomes to be saved, orthey will sacrifice savings and spend freely in a vainattempt to maintain their consumption habits in spiteof the disruption of war. In this event, the pressure onprice ceilings will be great. The outcome will hingelargely on the success of ceiling price enforcement, onthe Government's fiscal policies and its willingness toemploy subsidies, and on the extent to which priceincreases are masked by inferior quality.

Table 2.-—Sales of Retail Stores, by Kinds of Business[Billions of dollars]

Kind of business

All retail storesNew and used car dealersHousehold appliances and radiosHeating, plumbing, paint, and electrical..Farm implementFilling stationsAuto accessory dealersLumber and building materialsFuel, ice, and fuel oilVarietyFurniture and house furnishingsMiscellaneous (including secondhand).__HardwareDepartmentDrugFamily clothing and women's wearHay , grain, feed, and farmer's supplies._.Men's and boys' clothingDry goods and general merchandiseGenera] stores with foodShoesGrocery an d combinationOther food stores, n. e. sEating placesJewelryDrinking places

1941

53/97.5

.7

.4

.63.5

.72.01.21.21.72.0

5.01.92.31.01.0

.8

.89.43.02.5

.51.8

1942 est. j

51.21.8

.5, 3.5

2.9.6

1.81.11.21.72.0

5.22.02.51.11.1

.9

.911.03.53.0

.62.2

! Percent-age

change

- 5- 7 6- 2 9—25- 1 7- 1 7—14-10- 8

0000

+4+5+9

+10+10+13+13+13+17+17+20+20+22

Source: U. S. Department of Commerce.Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

6 SURVEY OF CURRENT BUSINESS August 1942

As shown in table 2, the sales of most types of con-sumer durable goods will slump sharply this year ascompared to last. The money consumers would other-wise have spent for such goods will thus be availableeither as savings or as surplus purchasing power seek-ing an exchange. Some of it, of course, will be takenby the Government in taxes or bond sales.

In view of the decline in sales volume for variousgroups of stores in 1942 and of the sharper declinesahead, it is clear that the problems of conversion facesome retailers even more acutely than manufacturers.Many of the latter can turn to the making of war goods,but the retailer whose goods' supply has been cut offfor any reason, cannot replace it by a new line of tanksand other implements of war for sale to civilians.

Tin

The tin outlook is of unusual interest because enemysuccesses in Asia have deprived the United States of itsprincipal sources of refined tin (imports from thesecountries averaged 66,000 tons per year, or 80 percentof the total received during the period 1936-40). Thesizable Government stock pile keeps the shortage ofthis metal from being as serious as are those of copper,and some other materials. Tin deposits in NorthAmerica are negligible. In pre-war years we produceda negligible amount of refined tin, but now that theflow of imports has been reduced to a fraction of itsformer volume, it has become necessary that we do ourown smelting. The Government-financed smelter inTexas came into production in April of this year. Theoutput at present will be limited to 18,000 tons per yearfrom Bolivian ore purchased by the Metals ReserveCompany and smaller amounts previously purchasedfrom Netherlands East Indies. Consideration is nowbeing given to acquiring larger tonnages each year fromBolivia.

This domestically refined tin, supplemented by asmall quantity imported from Africa, will be our onlynew supply of primary tin as long as the Far Easternsupplies are unavailable. Demands, even though theyhave been sharply curtailed, will be greatly in excess ofoutput; hence, the gap must be filled by drafts onstocks of refined metal. It is believed that these stockscould be extended over a longer period of time if all pos-sible steps were taken to substitute other materials fortin in the manufacture of containers, and if the elec-trolytic process of making tinplate were adopted by alarge majority of the producers. In this process, a 60percent saving of tin is possible because a thinner coat-ing of metal can be used than in the hot-dip process.For example, in the electrolytic method, 4,000 tons oftin could be used to make the same quantity of tinplateas formerly required 10,000 tons.

There is no agreement concerning the magnitude ofthe possible addition to our tin supply that may come

from detinning old containers, but it is evident that sub-stantial quantities could be recovered if scrap collec-tions were fairly successful. At present there are onlytwo plants designed for the detinning of old containers.The conservation program calls for the building ofenough new plants to bring the available tin from thissource to 11,000 tons per year for the account of theMetals Reserve Company. The bottleneck in the de-tinning program is in the orderly collection of properlyprepared scrap cans. This can best be effected throughthe enactment of municipal ordinances designed to con-trol the saving, preparation, and collection of cans. Inaddition, an upward adjustment of the price ceilingmay be necessary to cover the high cost of the detinningoperation.

Recovery of secondary tin in alloys such as solder isexpected to yield substantial quantities of this mate-rial, which although not to be considered as primarytin, meets consumption needs that would otherwiserequire new, refined metal.

Table 3.—United States Net Imports and Consumptionof Refined Tin, October 1940-September 1941

[Long tons]

Consumption: *TinplateBabbittSolderBronzeTubes and foilAllother

Total

Net imports 2

Change in stocks_.

Total

44,0005,910

16, 8509,0604,400

11, 200

91, 420

143, 240+56, 820

1940

Fourthquarter

8,9001,1803,4001,890

8902,400

18, 660

34, 939+ 16, 279

1941

Firstquarter

10,0001,3604,0602,200

9702,800

21, 390

35, 61-2+ 14,222

Secondquarter

11,9001,9004,6802,3701,3003,000

25,150

39, 423+14, 273

Thirdquarter

13, 2001,4704,7102,6001,2403,000

26, 220

38, 266+ 12,046

1 American Bureau of Metal Statistics.2 U. S. Department of Commerce.

The container industry, normally the greatest con-sumer of tin, will feel most of the effect of the curtail-ment orders. Roughly, 40,000 tons of tin were used inthe manufacture of all kinds of containers in 1941,compared with about one-half that amount madeavailable in 1942. The conservation orders restrictthe output of some products to specified percentagesof the pack in previous years, and prohibit the use oftin for canning products which can be handled inother forms. There has been much substitution ofglass and paper for tin in the output of containers,but it is felt that this movement has not been carriedas far as possible. Further substitution can be madeby the use of paper for packaging tooth paste, shavingsoaps, etc., and there may be an increase in the outputof frozen and dehydrated foods.

It is possible that the elimination of much of the tinconsumption will have a permanent effect, and thecurtailed level of demand may become normal, asDigitized for FRASER

http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

August 1942 SURVEY OF CURRENT BUSINESS

substitutes for tin cans and other uses of tin comeinto general acceptance.

Because of the priority of military needs for largequantities of tin, quite naturally reduction of civilianconsumption has been the chief method of balancingtotal requirements with the reduced supply. With thisreduced consumption, however, and with continuedimports of refined tin and of ore for smelting to satisfypart of the demand, we may be able virtually to elimi-nate the current necessity of drawing down our stockpile if detinning operations and the savings from theelectrolytic process augment the supply sufficiently.

Construction

Approximately a year ago, the construction industryfirst ran into serious difficulties in obtaining certaincritical materials. The immediate so ution of thatproblem was found partly through the reduction in thetotal volume of construction not directly associatedw ith military requirements, through the substitution ofless critical materials, but most of all through moreeffective and economical use of the critical materialsachieved by changes in design and specifications.

Gradually, as we came closer to a full war effort andshortages became more acute, the list of critical materi-als lengthened. This has reached the point wheredrastic restrictions have had to be placed on the use ofsuch items as lumber and asphalt, and there is somequestion whether the cement producing capacity willbe adequate to meet the requirements of the balance ofthe year.

It is evident that the problem of material shortagesin construction has gone beyond the limits of substitu-tion for critical items. Reinforced concrete can replacestructural steel in bridges and buildings. Timber struc-tures can at times be substituted for either steel orconcrete. When both cement and lumber are scarce,there is no satisfactory alternate. To some extent,asphalt and cement may be used interchangeably onhighways and airport runways. This possibility haslittle merit when both are scarce.

When the problem of obtaining lumber for war pur-poses became acute, the result w as the extension ofGovernment control over construction. This beganby the simple granting of priorities to essential projectsand proceeded to the imposition of various ordersregulating the manufacture, distribution, or use ofcritical materials, and culminated in ConservationOrder 1 -41 (the "Stop Building" Order). Severalother orders or statements of policy during the secondquarter laid great emphasis on the elimination of allnonessential construction, and the elimination of non-essential features on those projects which had beenaDDroved. The definition of what is essential is much

more strict than would have been thought possible 3months ago.

The effect of these regulations, and more particularlyof the shortages of materials and man power whichmade them necessary, has been a drastic decline inconstruction in some fields. For example, contractsfor private residential building, which were running10 to 20 percent below 1941 during the first 4 months,declined to one-third of last year's level by June. Thedecline in commercial building was even more drastic,falling 85 to 90 percent below the 1941 level.

On the other hand, in spite of the policy of carefullyreviewing such projects, the volume of commitmentsfor direct military construction, and for war plants,sharply increased.

In terms of expenditures at the site, rather than

Figure 1.—Value of New Construction excluding Work-ReliefConstruction


1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 <O4I S9420.0 <2-324

Source: U. S. Department of Commerce.

commitments for future expenditure, total constructionin the second quarter was the largest ever experiencedin any 3-month period. Private and nonwar construc-tion had not yet had time to feel the full effects of therestrictions and there was a very large increase in directmilitary and war plant construction. It seems probablethat this will mark the high point for the war. In-dustrial plant construction should continue in substan-tial volume, but it is not likely to maintain the phe-nomenal rate reached in the second quarter. Militaryconstruction will tend to increase but not sufficiently tooffset declines elsewhere.

The prospects are that 1942 will see the peak volumeof construction since the Twenties and the peak of thewar period (see fig. 1). In table 4 the volume of build-ing by various classes of construction is shown byquarter years. The estimates for the entire presentyear are subject to various qualifications and shouldbe regarded with proper reserve.


SUEVEY OF CURRENT BUSINESS

Table 4.—New Construction Activity

August 1942

1941 195 2

New construction l

PrivateResidential 2Nonresidential building

CommercialFactoryAll other3

Farm construction 4

ResidentialService

Public utility 6 .. _ ..Public construction

Military and naval6

Nonresidential buildingIndustrialAllother7

Highways 8

Sewage disposal and water supplyResidentialAll other Federal »Miscellaneous public-service enterprises 10 -

Firstquarter

Secondquarter

2, 2781,0165083278518854301812151

1,26258023716572220297596

2,5731, 323

74031810515657905337

1751,250

318400336

6425530

1189732

Thirdquarter

Fourthquarter

3,1621,569902327113146681357956

2051,593

491492423

69281

2915810735

3,1321,353

731334

8518861452619

2431,779

670542476

66257

2712812530

Total

11,1455,2612,8811,306

388678240300176124774

5,8842,0591,6711,400

2711,013

115479425122

Firstquarter(revised)

2,637869470190549541271512

1821,768

575732676

56203

2810510322

Secondquarter(prelim-inary)

3,297848480121286330814536166

2,4491,13785780156194301308516

Last 6 :months Total

(esti- j (estimated)mated)

5. 7921.037

470145259525

1629072

2604,7552,8001.1501,100

5020040

41513020

11.7262. 7541,420

456107253

96270150120608

8, 9724,5122,7362,577

162

98650318

1 Does not include data for work-relief construction." Data through first quarter of 1942 were prepared by the Bureau of Labor Statistics. V. S. Department of Labor; thereafter preliminary estimates of the U. S. Depart-

ment of Commerce.3 Includes religious, educational, social and recreational, hospital and institutional, and miscellaneous nonresidential building.* Revised estimates due to the exclusion of maintenance.5 Includes railroads, street railways, pipe lines, electric light and power, eas, telephone and telegraph utilities.6 Includes cantonments, aeronautical facilities, navy yards and docks, army and navy hospitals, etc." Includes public, commercial, educational, social and recreational, hospital and institutional, and miscellaneous,s Revised.9 Includes work done by Bureau of Reclamation, Indian Service, Forest Service, Army Engineers, National Park Service, Tennessee Valley Authority, Soil Conservation

Service, and other Federal agencies not elsewhere included.30 Includes such municipal enterprises as street railways and other transit systems, oas systems, ports, docks, harbors, airports, tunnels, etc.


Fats and OilsFats and oils (of animal and vegetable origin) con-

stitute an important segment of the national foodsupply. They are also essential in many nonfood in-dustrial products; especially soap, with its byproduct,glycerin, in very large demand. Their next most impoi-tant nonfood use is as drying agents, in such productsas paints, varnishes, lacquers, linoleum, oilcloth, andprinting ink.

Table 5.—Domestic Disappearance of Fats and Oilsin Selected Years, 1929-41 1

[Millions of pounds, crude basis]

Utilization 1929 1932 1941

All uses_Food:

Butter, excluding use in \margarine |

Margarine jLard, excluding use in !

compounds, etc jCompounds and vege- j)

table cooking fats \}Other food products

Total foodPercent of total

Nonfood:SoapDrying industriesOther industrial products.

Total nonfoodPercent of total

2, 3101,054

669

3,131 4,03332. 0 ! 36. 7

1 Total domestic disappearance, computed from data on production, foreign trade,and stocks. Break-down by major uses based on Factory Consumption of Animaland Vegetable Fats and Oils, by Classes of Products, Bureau of the Census, withapproximately 88 percent of "loss including oil in foots," allocated to soap, and withunreported disappearance allocated to food and industrial uses according to thecharacter of individual fats and oils.

Source: U . S . Department of Agriculture.

Their domestic uses have shown a pronounced tend-ency to increase over a long period of years, as shown in

table 5, and reached the record volume of nearly 11billion pounds in 1941. This was an increase of morethan 12 percent over the previous year.

Table 6.—Domestic Disappearance of Specified Fats and OilsforFood and in Soap, the Drying Oil Industries, and OtherProducts, 1941l

[Millions of pounds, crude basis]

Item Total

Butte rLard, including rendered pork

fatTallow, inedible, and greases...Cottonseed oilLinseed oilCoconut oilSoybean oilPalm oilMarine animal oilsCorn oil .Castor oilPeanut oilTallow, edibleOther fats find oils

Total . . .

Food

2,213

boapDrying

oilOther

I industrialproducts

1,1,1,

967667567816727556292230

1,967

1,473

1954321066

174157 I146 i95 !

378

10,985 \

1.370793 i

518 :48 j140 ;

1

784150

29t142913274591

134 !88 I

185 i

16

65

48

146

115

4109

62

30

6,952 ! 2,310 1.054 669

1 See note 1 for table 5.2 Less than 500,000 pounds.Source: U. S. Department of Commerce,

The largest use of fats and oils is for food. This hasnearly doubled in volume in the last three decades,attaining new high levels in each of the past 6 years.On the other hand, since 1932, nonfood uses of fats andoils have shown increasing volumes each year, rising ata faster rate than food uses. Whereas nonfood useswere 27 percent of the total in 1932, they rose to 32percent in 1940 and nearly 37 percent in 1941. Of theincrease of 1.2 billion pounds in total uses of fats and


August 1942 SURVEY OF CURRENT BUSINESS 9

oils from 1940 to 1941, 900 million pounds were nonfood.Of this, 357 million pounds were used in the manu-facture of soap. Many fats and oils used industriallyand reported as inedible, are suitable for food if furtherprocessed. Most fats and oils used for food can alsobe used industrially.Foreign Supplies Curtailed.

Foreign fats and oils (chiefly the latter) going intodomestic uses, approximated 1.7 billion pounds, on theaverage, in the 3 years 1939-41. Over two-thirds ofthe imported oils came from Far Eastern sources nowlargely cut off by the war. Coconut oil and most of ourpalm oil were products of, respectively, the Philippinesand Netherlands East Indies. These two oils suppliedabout 28 percent (658 million pounds) of the fats andoils for soap last year and an even larger proportion ofthe glycerin derived in soap manufacture because oftheir high glycerin content. They provided, in addition,301 million pounds of food oils in 1941, together withsmaller quantities for tin- and terne-plate manufactureand other industrial purposes. The Far East alsoformerly supplied substantial quantities of the fast-drying oils like king.

Imports from Western Hemisphere countries, how-ever, are increasing. Unless the shipping situationshould prevent it, imports in 1942 may total 1 billionpounds.

Analysis of edible fats and oils disappearance seemsto indicate that it is influenced very little by fluctua-tions in industrial activity and purchasing power. Boththe index of their disappearance and the Federal Re-serve index of industrial production have shown up-ward trends since 1932, but the year-to-year changes inindustrial activity have not been reflected in edible fatsand oils consumption. This conclusion rests on theevidence shown in figure 2 where annual deviationsof fats and oils disappearance from its straight trend lineover the period 1932-41 are compared with annualdeviations of industrial output from a similar trend.

The fact is that per capita use of edible fats and oilsvaries but little from year to year. As foods, theyhave almost always been relatively cheap. When do-mestic supplies have been light, the prices of edible fatsand oils have risen and imports have been stimulated,thus augmenting domestic production until per capitasupplies were up to their usual level. When domesticsupplies have been heavy, edible fats and oils have beenexported, thus reducing domestic per capita supplies totheir usual level. It is estimated that in 1942, consump-tion of edible fats and oils will be 7 billion pounds. Ofthis, about 200 million pounds will probably be drawnfrom invisible stocks.Inedible Fats Consumption Follows Changing Economic

Conditions.

There is a fairly close relationship between industrialactivity and the consumption of inedible fats and oils.Disappearance of inedible fats and oils has shown an

473815—42 2

upward trend in the last 10 yeais. When this rising10-year trend is removed from the inedible fats and oilsconsumption data, an index of year-to-year changes isobtained, free from the growth element in consumption.These short-run changes are directly related to the year-to-year changes in industrial production. (See fig. 2.)

In 1941 the disappearance of inedible fats and oilswas about 4 billion pounds. Market surveys showthat at least 400 million pounds of this disappearancewent into overstocks, making actual consumption about

Figure 2.—Indexes of Disappearance of Fats and Oils andIndustrial Production as Deviations from Straight-LineTrend.1

1935-39 = 100150

1935-39

125

100

75

DISAPPEARANCE OF INEDIBLE tFATS AND OILS /

(RIGHT SCALE) '

INDUSTRIAL PRODUCTION*(LEFT SCALE)

DISAPPEARANCE OF EDIBLE -FATS AND OILS

(LEFT SCALE)

IOO120

100

1932 1933 1934 1935 1936 1937 1938 1939 194060

1941OO42-321

1 Data are plotted on ratio scales.

Source: Basic data for Industrial Production, Board of Governors of the FederalReserve System, for Disappearance of Fats and Oils, U. S. Department of Agricul-ture. Deviations from trend calculated by the U. S. Department of Commerce.

3.6 billion pounds compared with 3 billions in 1940.The Department of Commerce estimates that indus-

trial production as measured by the Federal Reserveindex will average about 17 percent higher in 1942than in 1941. Any such estimate rests on manyassumptions and qualifications, of course, but if thisincrease should materialize, a related increase in theconsumption of inedible fats and oils to around 4.2billion pounds may be expected in 1942, or an increaseof 16 percent over the actual consumption in 1941.At least 400 million pounds of this consumption will becomprised of withdrawals from excess stocks of finishedproducts on the shelves of wholesalers, retailers, andindividuals. Subtracting this 400 million pounds ofoverstock from the estimated consumption, it appearsthat the disappearance of inedible fats and oils will be3.8 billion pounds in 1942.

Based on the afore-mentioned estimate of industrialproduction, the outlook is for a total unrestricted dis-appearance of all fats and oils in 1942 of about 10.6billion pounds. This figure, however, represents maxi-mum disappearance. The aggregate effect of taxes,bond sales, an.d other factors may be of sufficientimportance to cut disappearance of fats and oils about300 million pounds under what could normally beanticipated on the basis of population growth andincreased industrial activity.

(Continued on p. 17)Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis


National Income And The War Effort—First Half Of 1942

By Milton Gilbert and Robert Bangs]

\LTHOUGH the rearmament effort had been under-•**• way for a year and a half before December 7, themagnitude and tempo of the war program increasedgreatly after the attack on Pearl Harbor. This ex-pansion in armament goals necessarily meant a drasticchange in the underlying economic situation and in thecharacter of the economic directives issuing from theGovernment war agencies. The period before PearlHarbor was essentially one in which armament produc-tion was superimposed upon the civilian economy,despite the fact that after the middle of 1941 materialshortages were leading to minor restrictions on civiliangoods output. After Pearl Harbor, on the other hand,material shortages were so greatly intensified and theneed for industrial facilities in the war effort was sopressing, that the release of economic resources fromthe civilian goods sphere of the economy was requiredon a large scale. Apart from the rising tide of militaryoutput itself, this releasing of resources from civiliangoods industries was the characteristic feature of thepast 6 months.

With economic activity at the end of 1941 on a scalewell below the potential ceiling, ultimately limited onlyby availability of manpower, total production con-tinued to rise during the first half of this year under theimpetus of expanded war demands. Severe curtail-ments in nonwar industries, therefore, were more thanoffset by the rapid expansion of war output. In termsof current dollars, the gross national product in thesecond quarter of 1942 was flowing at an annual rate ofmore than 146 billion dollars as against the 1941 totalof less than 120 billions or the last quarter 1941 rate of127 billions. By the second quarter of 1942 the nationalincome had reached an annual rate in excess of 112billions. This figure compares with the 1941 total ofless than 95 billions and the rate in the fourth quarterof that year of 103 billions. While the continued ex-pansion of both these aggregates reflects the influenceof rising prices, there remains nonetheless a significantrise in the physical flow of goods and services. It isestimated that the gross national product in real termsrose 15 percent from the second quarter of 1941 to thesecond quarter of 1942.War Output an Increasing Fraction of National Product.

Needless to say, the expansion of war output domi-nated economic trends over the past 6 months. Fed

* While the statistical data incorporated in this article are a product of the NationalIncome Unit as a whole, special mention must be made of the assistance of Mr. GeorgeJaszi. In addition, the cooperation of the Munitions Branch of the Bureau of Re-search of the War Production Board, at whose request the quarterly estimates wereundertaken, and the Current Business Analysis Unit of the Bureau of Foreign andDomestic Commerce was indispensable. All concerned wish it understood thatquarterly estimates so soon after the event are necessarily more approximate thanusual annual series.

both by diversion of output from the civilian sphere andby over-all expansion in utilization of resources, thestream of war expenditures has risen sharply in absoluteterms and has constituted an increasing share of totaloutput. By the second quarter of this year war expend-itures were running at an annual rate of nearly 41billion dollars, in contrast to rates of 9 billion for the

Figure 3.—Utilization of Gross National Product.BILLIONS OF DOLLARS150

100

2nd 3rd 4th1942

DD 42-306


comparable quarter of last year and 17 billion for thefinal quarter of 1941. In relative terms, the flow of waroutput rose from 8 and 13 percent of the gross nationalproduct in the second and fourth quarters of 1941,respectively, to 28 percent in the second quarter of thisyear. As related to national income, the more appro-priate percentage for measuring the disposition of eco-nomic resources in terms of their earnings, the upwardmovement of the war-impact percentage has beenequally impressive. In the second and fourth quartersof last year the relation of the earnings of productiveresources paid out of war expenditures to total factorearnings was 9 and 15 percent, respectively. In thesecond quarter of this year this relation had risen to 31percent. \

Widespread use of these war-impact ratios as short-hand symbols expressing the degree of economic mobili-zation makes desirable a brief digression on theirrestricted meaning. In the first place, it must berecognized that the greater the degree of conversion ofan economy to war, the less is the significance that canbe attached to a ratio of this type. This is because thecomputation of the ratio must rest upon some arbitrarydefinition of what activities constitute the war effort.In the statistical tables presented in this article, forexample, war expenditures are measured by the total



expenditures reported in the Daily Treasury Statement,plus outlays of the national defense corporations notappearing in the budget, both adjusted to exclude suchexpenditures as do not constitute drafts against currentoutput.2 This definition does not realistically separategoods essential to the prosecution of the war from thoseused exclusively for nonwar purposes. Much that is re-quired to maintain the nation at war remains in thecivilian-goods sphere. In fact, it is not too much tosay that, as the shortages become more generalized andmore stringent, many types of output in the civiliansphere will undoubtedly command a higher order ofpriority than certain components of gross output nowclassified as war expenditures.

To illustrate: Capital equipment purchased by pri-vate industry is not included in war goods output, eventhough used entirely for armament production, whereasGovernment purchase of the same equipment for thesame purpose is included in war expenditures. Simi-larly, food and clothing supplied to the armed forcesare statistically war expenditures, while the correspond-ing expenditures of workers in war plants are statisti-cally civilian expenditures, according to the definitionused here. Furthermore, as an all-out war effort isapproached, the arbitrariness of the separation betweenthe war and civilian sectors of the economy is magni-fied; one can no longer tell from the percentage itselfwhether or not a greater war effort is possible. Thedifficulty in interpreting the ratio as it becomes rela-tively high may be seen from the fact that even thougheconomic mobilization were complete, the ratio mustnecessarily remain far short of 100 percent. More-over, even after the war effort had reached its peak,the percentage could continue to rise simply because alarger proportion of economic activity depended uponGovernment financing and might be counted as warexpenditures in official bookkeeping.

In the second place, the trend of war expendituresdoes not accurately measure the distribution over timeof the economic effort devoted to war, the measurebeing designed, rather, to approximate the volume ofoutput currently available for war use. This is be-cause the war expenditure total, month by month, islargely on a delivery basis. Consequently, it does nottake account of much of the accumulation of goods inprocess in armament industries during the expansionphase of the war effort and the using up of this inven-tory at a later date. At the present time, of course,inventory is being accumulated in war industries at avery high rate, the available evidence indicating thatthe rate of such accumulation in the second quarter of1942 may well have been over 3 billion dollars annually.

Finally, and most important, these war-impact ratiosare often used with the tacit assumption that theymeasure the disposition between war and civilian uses ofreal resources in physical terms, even by those whorecognize the tenuousness of the concept of the quantity of

1 The above definition of war expenditures is used throughout this article.

real resources. Such, however, is not the case. As is.well known, costs in war industries are substantiallyhigher than costs of similar factors in nonwar industries,the only significant exception being the rate of pay ofthe armed forces. In support of this contention, it iscertainly doubtful that either the rise in total outputover the past year or the present magnitude of durable-goods production could have been attained without thelarge relative shift from civilian to war production. As aconsequence, the impact ratio seriously overstates thefraction of "total quantity of real resources" currentlydevoted to the war effort. Put another way, it is notpossible to visualize the quantity of goods and servicesreceived for a billion dollars of war expenditures interms of the average quantity of nonwar goods andservices obtainable for an equivalent sum. A statisticalcorrection for this fact cannot be made at the present^time but the evidence leaves no doubt that it wouldhave to be substantial. It may be noted that thisdifference in factor costs as between war and nonwarindustries is an important element contributing to therise in total output, at a time when the composition ofoutput is changing in favor of war goods.

Difficulties such as those mentioned make it necessarythat care be exercised in interpreting movements in theratios of war expenditures to national income or grossnational product over time and in making comparisonsof the ratios among various countries.

Changes in the Gross National Product.

An outline of the change that has come in the char-acter of the economic situation during the first half of1942 may be seen in table 3. Through the first threequarters of 1941 the absolute rise in the value of thegross national product consistently exceeded the in-crease in the value of war expenditures. In the fourthquarter of last year and the first quarter of the presentyear this relationship was reversed, although the dif-ference between the changes in the two aggregates wasslight. In the second quarter of 1942, however, thegrowth in war expenditures far exceeded the expansionin total output. By way of summarizing what hap-pened during the past 6 months, it may be noted thatthe annual rate of war expenditures increased by 23.8billion dollars from the last quarter of 1941 to thesecond quarter of this year, while the gross nationalproduct rose only 19.4 billion dollars at an annual rateover the same period. Thus, the growth in warexpenditures was being made possible in part by a 4.4-billion curtailment in the rate of nonwar expenditures.

This curtailment in terms of actual dollars expendedwas, in fact, restricted to only one of the major compo-nents of gross national expenditure, namely, privatecapital formation. From a peak annual rate of over20 billion dollars during the latter half of 1941 theaggregate of private gross capital formation fell to a rateof less than 14 billion in the second quarter of thisyear. Two of the major components of this aggregate,Digitized for FRASER



namely, construction and equipment expenditures, fellsharply, reflecting the fact that the output of the con-struction and machinery industries was being purchaseddirectly by Government to an increasing extent. Busi-ness inventories were still increasing at a substantialrate during the past 6 months, though there was somedecline in the rate of accumulation from the fourthquarter of last year. This decline was a factor contrib-uting to the sharp reduction in total private capitalformation.

With respect to the other major components of grossnational expenditure, changes over the past 6 monthswere relatively small. Nonwar Government expendi-tures appear to have been virtually constant, consider-ing the somewhat random character of these expendi-ture flows quarter by quarter. It must be pointed outthat the separation of Government expenditures intowar and nonwar categories is done largely on the basisof broad agency groups, and that consequently theadded wartime burdens on "nonwar agencies" tend tomaintain the total of nonwar Government expenditures.The seasonally adjusted rate of consumer expenditures,on the other hand, was moderately higher over the past6 months than during the second half of last year. Thisslight advance reflects, of course, the influence of risingprices, which more than offset the decreasing physicalflow of goods and services to consumers.3

The Sources of War Output in Real Terms.

While the changing pattern of gross national productand expenditure in current dollars provides data ofconsiderable importance for the analysis of the fiscalproblems which the war has produced, tins patterndoes not mirror the real impact of the war programupon the economy. For this latter purpose, it isessential that some conception of the various expendi-ture flows in real terms be employed. With fullrecognition of all the inherent limitations involved,such a calculation has been attempted because of thebasic necessity to analysis and policy formation of anapproximate notion of the real sources of war "finance/'

In order that changes up to the most recent periodmay be seen, the comparison of the gross nationalproduct in real terms was made between the secondquarters of 1941 and 1942. The data are shown infigure 4 and table 2. As previously mentioned, thereal gross product was increased by 15 percent overthis period, the absolute figures being a rate of 116billion dollars in the 3-month period a year ago ascompared with a rate of nearly 134 billion in the secondquarter of this year (second quarter 1941 prices usedin both instances). As with the current dollar figures,the increase in real war expenditures dominated theupward movement of the gross product. In contrastto the estimates in current dollars, however, all othercomponents are seen to have decreased in real terms.Consumers' expenditures in particular are running below

3 An analysis of the changing pattern of consumers' expenditures will be presentedin a forthcoming issue.

the level of a year ago by a fairly sizeable margin inreal terms, the relative levels being just reversed incurrent dollars.

From these data a table can be constructed showingthe sources of real war output in the second quarterof 1942 relative to the pattern of a year earlier. Theannual rate of war expenditures during the later period,in terms of prices prevailing during the earlier, was-39.2 billion dollars. Over this 1 year span the realvolume of war output increased more than fourfold.Figure 4.—Utilization of Gross National Product, Seasonally

Adjusted Quarterly Data at Annual RateBILLIONS OF DOLLARS175

150

125

100 —

CURRENTIN 2 nd DOLLARS

QUARTER

GOVERNMENT,WAR

SECONDQUARTER

\ n 1, i

SECONDQUARTER

I942

0 0. 4 2 -309


The sources from which this expanded flow of waroutput was derived are shown in the following table.Increase of real war expenditures, 2d quarter 1942 over

2d quarter 1941 (billions of dollars) 1 30. 2Sources:

Decrease in other Government expenditures . 6Decrease in private gross capital formation 5. 9Decrease in goods and services sold to consumers 6. 0Increase in gross national product 17.7

Tot al 30. 21 All figures are annual rates in 2d quarter 1941 prices.

Several facts brought out by this tabJe are of specialinterest. It may be seen that diversion of output fromthe area of private capital formation to war purposes wasvirtually as large in absolute terms as that from the fieldof consumer expenditures, despite the fact that the lattercategory of output was four times as large. This re-flects, of course, the heavy inroads which war require-ments must make upcm those specialized types of re-sources which can most readily be adapted to war pro-duction. By the very nature of war output, suchresources are concentrated in durable goods industries.These industries account for a much larger proportionof the output which constitutes capital formation thanof the output reaching consumers.Digitized for FRASER



It is also significant that the increase in the rate ofwar expenditures over a year ago was secured morethrough overall expansion of output than throughdiversion of nonwar production. In view of the veryhigh level of total operations in the second quarter oflast year, this is a testament to the expansion possi-bilities of our economy. It likewise makes clear, how-ever, the general character of the task accomplishedduring the past 6 months—particularly when consideredwith the fact that so much of the diversion representedmerely a shift in the source of expenditures from private

Figure 5.—Disposition of Individuals' Income, SeasonallyAdjusted Quarterly Data at Annual Rate


100

INCREASE INSPENDING DUETO PRICE RISE

TAXES

SAVINGS

CONSUMERS'EXPENDITURESFOR GOODS

AND SERVICES

25 IN CURRENTDOLLARS

Source: TJ. S. Department of Commerce.

to public rather than a change from civilian to arma-ment production. What was accomplished in thecourse of these 6 months was the releasing of resourcesreadily convertible to war production from their tasksin the civilian sphere. Completing the actual con-version of these resources into an expanded war industryremains one of the major jobs of the immediate periodahead.Further Rise in National Income.

During the first 6 months of 1942 national incomecontinued its rising trend, advancing to a record annualrate of more than 112 billion dollars in the secondquarter in comparison to a rate of 103 billion at theclose of 1941. The tremendous upward sweep of theincome flow since the outbreak of the war in Europemay be seen by contrasting the present rate with the1939 national income total of 77 billion dollars. Al-though all the major types of income shared in the risesince 1939, the continuing upward movement duringthe past 6 months is accounted for largely by the wageand salary and farm income components.

The Disposition of Consumers' Income.

Combining the measurements of total income flowto individuals with certain of the streams contributingto gross national expenditure yields a summary pictureof the manner in which the income of consumers is beingutilized.

It may be noted that taxes paid by individuals,measured on a collections basis, had done relativelylittle toward checking the rising tide of individuals'disposable income up through the first half of 1942.From an annual rate of 96 billion dollars in the fourthquarter of 1941, disposable income of individuals roseto a yearly rate of 103 billion by the second quarter ofthis year, an advance of 7 percent.

With war requirements for materials and industrialfacilities cutting more and more deeply into the flowof consumer goods, especially in the durables group, theexcess disposable income has been accommodated bytwo general outlets. In the first place the steadyadvance of retail prices up to the issuance of the GeneralMaximum Price Regulation enabled the diminished out-put of consumer goods plus a probable draft on inven-tories of civilian goods to be equated to the largervolume of consumer spending.

In the second place, a substantial part of the swollenincome flow was sterilized by an extraordinary rise inindividuals7 savings. At present this savings flow canbe only inadequately traced in detail, but a few en-lightening facts are available. Purchases of war bondsand stamps rose from an annual rate of 2.8 billion dollarsin the second quarter of 1941 to 7.0 billion in the corre-sponding period of this year. There is little doubt thatsome of this increase represents new saving.

Table 1.—Percentages of War Expendi tures toNational Product and National Income

Gross

19401941:

II II I IIV

1942:II I

Year and quarter

War expendi-tures as per-

centage ofgross national

product

3

68

1013

2028

War expendi-tures as per-

centage ofnational in-

come i

3

79

1115

2231

1 National income defined for this purpose inclusive of corporate-income and excess-profits taxes. War expenditures adjusted to exclude indirect taxes. (See notes.)

Table 2.—Gross National Product in Second Quarter 1941Prices: Seasonally Adjusted Annual Rates

[Billions of dollars]

Line Item

Government warGovernment nonwarPrivate gross capital formation . _Consumers' goods and services

Total gross national product

Second quarter

1941

9.013.018.775.4

116. 1

1942

39.212.412.869.4

133.8Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis


Table 3.—Gross National Product or Expenditure: Seasonally Adjusted Annual Rates[Billions of dollars]

Line

1939

Item

Gross national product or expenditureLess: Government expenditures for goods

and servicesFederal Government._.

WarOther Federal Government-

State and local governmentEquals: Output available for private use...Less: Private gross capital formation

ConstructionProducers' durable equipment-..Net change in business inven-

toriesNet export of goods and services..Domestic output of monetary-

gold and silver -Equals: Consumers' goods and services—

Durable goodsNondurable goods and services

I II III IV

85.1

14.56.21.25.08.3

70.69.93.74.9

.4

.7

.260.76.9

53.8

86.2

15.47.11.45.78.3

70.89.43.85.1

~— 416

.361.46.9

54.5

88.2

15.37.01.45.68.3

72.910.63.95.3

.7

.7

.062.37.0

55.3

92.9

15.16.81.65.28.3

77.814.24.06.2

2.71.0

.363.67.5

56.1

1940 1942

I II III IV I II III

94.9

15.77.41.85.68.3

79.214.24.16.3

2.01.7

.165.08.0

57.0

94.5

16.07.72.05.78.3

78.513.04.46.3

.41.5

.465.58.1

57.4

96.1

15.77.42.64.88.3

80.414.34.56.6

1.91.2

.166.18.0

58.1

102.6

17.99.64.84.88.3

84.716.75.07.2

2.81.3

.468.09.0

59.0

110.4

20.712.56.75.88.2

89.716.95.38.3

2.31.0

.072.810.961.9

115.9

22.013.89.04.88.2

93.918.35.48.8

3.2.7

.275.611.164.5

124.4

25.317.112.15.08.2

99.121.05.69.9

3.81.3

.478.110.467.7

I V

127.0

30.522.317.05.38.2

96.519.95.58.5

4.9.9

.176.68.8

67.8

136.7

40.131.927.34.68.2

96.616.04.67.6

3.1• .6

.180.67.3

73.3

146.4

53.745.740.84.98.0

92.713.93.76.8

2.8.5

.178.86.5

72.3

Table*4.—National Income by Distributive Shares: Seasonally Adjusted Annual Rates 1

____ [Billions of dollars]

Line Item

Total national incomeSalaries and wagesOther labor incomeTotal compensation of employeesEntrepreneurial income and net rentsInterest and dividendsCorporate savings

1939

67.742.9

4.046.912.98.1

—.3

II III

69.243.33.9

47.213.18.7.2

71.644.43.7

48.113.49.2

IV

74.646.6

3.650.214.19.5

1940

74.847.0

3.750.713.89.3

II III

75.647.83.7

51.513.79.31.2

77.249.33.7

53.013.59.51.2

I V

81.251.93.7

55.614.49.61.7

1941

86.055.8

3.759.514.99.52.1

II III

92.459.73.8

63.516.49.72.8

97.663.33.5

66.818.110.02.7

I V

103.066.53.5

70.020.010.42.6

1942

108.470.9

3.474.321.010.4

2.7

112.275.33.4

78.821.410.1

2.0

i Figures do not necessarily add to totals because of rounding.

Table*5.—National Income by Use of Funds: Seasonally Adjusted Annual Rates[Billions of dollars]

Line

1234

j

89

10

11

Item

National incomeAdd: Transfer paymentsLess: Corporate savings _•

Employment taxesPersonal taxes

FederalState and local

Equals: Disposable income of individuals.-Less* Consumers' expendituresEquals: Net savings of individuals

M E M O : Consumers' expenditures in aver-age 1941 dollars -

1939

I

67.92.3

—.31.92.2

.81.4

66.460.7

5.7

64.7

I I

68.62.3

.21.92.3

.81.5

66.561.45.1

65.9

I I I

71.62.4

.92.02.4

.91.5

68.762.36.4

66.1

IV

74.92.2

.92.12.5

.91.6

71.663.68.0

67.2

1940

I

74.82.4

.92.12.51.01.5

71.765.06.7

68.9

I I

75.62.51.22.12.51.01.5

72.365.56.8

69.0

I I I

77.22.61.22.12.61.11.5

73.966.17.8

69.8

I V

81.22.31.72.22.71.11.6

76.96S.08.9

71.8

1941

I

86.02.32.12.32.91.51.4

81.072.88.2

76.3

I I

92.42.22.82.63.21.61.6

86.075.610.4

76.9

I I I

97.62.22.72.63.31.71.6

91.278.113.1

76.5

I V

103.02.02.62.83.51.81.7

96.176.619.5

72.5

1942

I

108.82.12.72.95.43.81.6

99.980.619.3

74.1

II

112.21.82.53.15.63.91 7

103.078.824.2

70.3

A year ago, moreover, consumers were adding to theiroutstanding short term debt at an annual rate of 3.2billion dollars; during the past quarter, consumer creditoutstandings were being retired at a rate of 3.3 billion.This change in rate of 6.5 billion dollars is a result bothof the consumer credit restrictions now in force and thenonavailability of durable consumers' goods ordinarilyin heavy demand at high levels of disposable consumerincome. Of the two, the latter is by far the more im-portant factor. The change in consumer credit togetherwith the increase in sale of war bonds accounts for thepreponderance of the total increase in savings overthis period.

It must be emphasized that, while the rising trendof savings has been a powerful anti-inflationary force todate, overreliance upon this factor in the effort tomaintain stable prices is easily possible. It is signifi-

cant in this regard that the shortages of consumers'goods thus far have been largely of commodities whichare purchased only at infrequent intervals and of whichconsumers held a relatively large and well conditionedstock. The spending-saving reaction to future short-ages of nondurable goods, which are purchased day inand day out, may easily be of a different character.Furthermore, due to the necessity of debt repayment, asizable part of the increased saving has come, in a sense,automatically. It will take a much more consciousdecision on the part of consumers to maintain suchsaving once a substantial part of this outstanding debtis liquidated. Consequently, intensification of effortsto hold prices down is apt to be necessary as the monthspass, quite apart from the pressure of a steadily risingflow of income.Digitized for FRASER



Table 6.—Gross National Product or Expenditure[Billions of dollars]

Line

12

3456789

10111213

141516

I tem

Gross national product or expenditure . _ --. - .Less: Government expenditures for goods and serv-

icesFederal Government

WarOther Federal Government - . ._

State and local governmentEquals: Output available for private use _ .Less: Private gross capital formation

ConstructionProducers' durable equipmentNet change in business inventoriesNet export of goods and servicesDomestic output of monetary gold and

silverEquals: Consumers'goods and services __ ._

Durable goodsNondurable goods and services _.

1939

I

20.0

3.61 6

. 31.32.0

16.42.2.7

1 2. 1.2

.014.21.5

12.7

I I

21.8

3.81.7. 3

1.42.1

18.02.41.01 3

—.1.2

.015.61.9

13.7

III

22.0

3.91.8

.41.42.1

18.12.91.21.3.2.2

.015.21.7

13.5

I V

24.3

3.81.7.4

1.32.1

20.53.51.01.6.6.2

.117.02.0

15.0

Total

88.1

15.16.81.45.48.3

73.011.03.95.4.8.8

.162.07.1

54.9

1940

I

22.6

3.81.8

.41.42.0

18.83.5.8

1.6.6.4

.115.31.7

13.6

II

23.9

4.01.9

.51.42.1

19.93.31.21.6.0.4

.116.62.3

14.3

I I I

23.8

4.01 9

. 71.22.1

19.83.71.31.6.5.3

.016.12.0

14.1

I V

26.8

4.52 41.21.22.1

22.34.11.21.8

.3

.118.22.3

15.9

Total

97.1

16.38.02.85.28.3

80.814.64.56.61.81.4

.366.28.3

57.9

I

25.9

5.13.11.71.42.0

20.84.01.12.1

.6

.2

.016.82.3

14.5

II

29.4

5.43 42.21.22.0

24.04.71.42.2.8.2

.119.33.1

16.2

1941

III

31.1

6.44.33.01.32.1

24.75.61.72.51.0.3

.119.12.6

16.5

I V

33.1

7.75.64.31.32.1

25.44.81.32.11.2.2

.020.62.3

18.3

Total

1J9.5

24.616.411.25.28.2

94.919.15.58.93.6.9

.275.810.365.5

1942

I

32.6

10.07.96.81.12.1

22.63.7.9

1.9.8.1

.018.91.6

17.3

II

36.7

13.411 410.21.22.0

23.33. 61.01.7

8.1

.019.71. 7

18.0

Table 7.—National Income by Distributive Sharesl

[Billions of dollars]

Line

1234567

Item

Total national income .Salaries and wagesOther labor incomeTotal compensation of employeesEntrepreneurial income and net rentsInterest and dividends .Corporate savings

1939

I

16.610.61.0

11.63.12.0

II

17.210.81.0

11.93.12.1

1

III

17.611.0

.911.93.42.0

3

I V

19.512.0

.912.93.72.7.2

Total

70.844.43.8

48.213.38.9

4

1940

I

18.211.5

.912.53.32.1

2

I I

18.711.9

.912.93.22.3

3

I I I

19.212.2

.913.13.52.2

4

IV

21.313.3

.914.33.82.8

3

Total

77.349.03.7

52.713.89.41 3

1941

I

20.813.6

.914.63.62.2

5

I I

22.914.91.0

15.93.92.4

7

I I I

24.515.8

.816.64.62.3

9

I V

26.516.9

.917.85.33.0

5

Total

94.761.33.6

64.917.49.92.6

1942

I

25.717.3

.918.24.82.2.6

I I

27.618 8

.919.75.02.4.5

i Figures do not necessarily add to totals because of rounding.

Table 8.—National Income by Use of Funds[Billions of dollars]

Line

123456789

10

Item

National incomeAdd: Transfer paymentsLess: Corporate savings.

Employment taxesPersonal taxes _ _ - - .

FederalState and local

Equals: Disposable income of individualsLess: Consumers'expenditures . . . . _. _Equals: Net savings of individuals . . ._

1939

I

16 6.6

- . 1.5.7.3.4

16.114.21.9

I I

17 2.6.1.5.6.2.4

16.615.61.0

I I I

17.6.6.3.5.6.2.4

16.815.21.6

IV

19.4.6.2.5.5.2. 3

18.817.01.8

Total

70.82.4.4

2.02.4.9

1.568.362.06.3

1940

I

18.1.6.2.5.8.4.4

17.215.31.9

II

18.7.6.3.5.6.2.4

17.916.61.3

III

19.2.6.4.5.6.24

18.316.12.2

IV

21.3.6.3.6.5.23

20.518.22.3

Total

77.32.41.22.12.51.01 5

73.966.27.7

I

20.8.6.5.6

1.1.74

19.216.82.4

II

22.9.6.7.6.7.34

21.519.32.2

1941

III

24.5.5.9.7.7.34

22.719.13.6

I V

26.5.5.5.7.7.34

25.120.64.5

Total

94.72.22.62.63.21.61 6

88.575.812.7

1942

I

25.7.5.6.7

2.31.8

522.618.93.7

I I

27.6.4.5.8

1.3.94

25.419.75.7

Table 9.—Relation of Gross National Product to National Income[Billions of dollars]

Line

1234567

Item

National income *Business taxesDepreciation and depletion charges .._ -Other business reservesCapital outlays charged to current expenseInventory revaluation adjustmentAdjustment for discrepanciesGross national product or expenditure

I

16.62.11.6.2.2

- . 1- . 620.0

II

17.22.31.6.2.2.1.2

21.8

1939

I I I

17.62.51.6.2.2

i

!o22.0

I V

19.52.71.6.2.2

- . 2.3

24.3

Total

70.89.66.4.8.8

- . 3.0

88.1

I

18.22.61.6.2.2

- . 1- . 122.6

I I

18.72.81.6.2.2.0.4

23.9

1940

I I I

19.23.11.6.2.3

- . 1—.523.8

IV

21.33.31.7.3.3

- . 2.1

26.8

Total

77.311.86.5.9

1.0- . 4

.097.1

I

20.83.81.7.3.3

- . 5- . 525.9

I I

22.94.31.7.4.4

- . 7.4

29.4

1941

I I I

24.54.61.8.4.5

- . 9.2

31.1

I V

26.54.91.8.5.6

- 1 . 1- . 133.1

Total

94.717.67.01.61.8

- 3 . 2.0

119.5

1942

I

25.75.21.9.5.6

- . 7- . 632.6

I I

27.65.42.11.0.8

—. 7.5

36.7

i Quarterly figures do not necessarily add to annual totals because of rounding.

Statistical NotesThe quarterly figures of the various components of gross na-

tional expenditure are interpolations of the annual figures pub-lished in the May 1942 Survey. The following notes, therefore,deal principally with methods of interpolation and should beused in conjunction with the notes in the May article explainingthe derivation of the basic annual figures. As in the May articlethe notes are arranged by tables and are keyed to the line num-bers appearing in the tables.

TABLE 1

Column 1 of this table was calculated directly from lines 1and 4 of table 3. Column 2 is designed to show the relationhptwpftn total earnings of the factors of production and those

factor earnings arising directly from war expenditures. In com-puting this relation, adjustments were made in both the nationalincome and war expenditure series. Corporate income andexcess profit taxes on an accrual basis were added to nationalincome, it being thought that this total more accurately measuresthe factor cost of current output than the national income netof such taxes. From war expenditures there was deducted anestimate of the other business taxes incorporated in war expend-itures. This estimate was obtained by subtracting all the otherbusiness taxes, which apply specifically to consumption goods,from the total and allocating the remainder by the ratio of warexpenditures to national product. By this method the amountof taxes deducted from war expenditures was .1, .2, and .7 billionsof dollars for the years 1939, 1940, and 1941, respectively.



TABLE 2

The deflation of the gross national product for the secondquarter of 1942 shown in this table was obtained as follows:

Line 1.—Deflation supplied by Munitions Branch of theDivision of Research, War Production Board, by applying rele-vant price series to the various categories of war expenditures.

Line 2.—Purchases from private industry comprised in thisseries were deflated by the Bureau of Labor Statistics wholesaleprice index for all commodities other than farm products andfoods. Government wages and salaries in real terms were ob-tained from an index of employment.

Line 3.—Each component of private capital formation wasdeflated separately. The Federal Home Loan Bank Boardprice index of a standard 6-room house was applied to residentialconstruction; E. H. Boeckh's index was used for commercialand factory construction; W. M. Handy's index was used forpublic utility construction; while farm construction was deflatedby a series from the Bureau of Agricultural Economics.

Each component of producers' durable equipment was deflatedby the use of a relevant series from the Bureau of Labor Statisticscompilation of wholesale prices. No attempt was made to cor-rect the net change in foreign balance or the domestic output ofgold and silver for price changes. Business inventories aredeflated as one step in the process of obtaining the value of thephysical quantity change in terms of current prices.

Line 4-—The commodity component of this series was deflatedby a combination of the Bureau of Labor Statistics cost of livingindex and the Department of Agriculture index of prices paid byfarmers for farm family maintenance. The two indexes wereweighted in accordance with the ratio of farm and urban familyexpenditures shown in "Consumers Expenditures in the UnitedStates."

The service component of the series was deflated by the serviceitems of the Bureau of Labor Statistics cost of living index.

Line 5.—Sum of lines 1 and 4 deflated as above.

TABLES 3 AND 6

Line 1.—Sum of lines 2, 8, and 14.Line 2.-—Sum of lines 4, 5, and 6.Line 3.—Sum of lines 4 and 5.Line $.—Daily Treasury Statement series of war activities plus

outlays of national-defense corporations as measured by changein noncash assets and liabilities. Adjusted to exclude prepay-ments, offshore expenditures not appearing in United Statesnational income, and purchases of existing assets (land, ships,etc.). These adjustments were based principally on monthlydata supplied by the Munitions Branch, Division of Research,W. P. B. Latest available data indicate that the total adjust-ment for 1941 was a little too large, but revision has beenpostponed until the data are more complete.

Line 5.—Daily Treasury Statement figures adjusted to excludeitems reported as expenditures which do not represent purchasesof goods or services.

Line t.—Annual figures from Treasury, Census, and privatesources. Interpolated by means of Census data on pay rolls andBureau of Forei^ . and Domestic Commerce estimates of con-struction by these Government agencies.

Line 7.—Sum of lines 8 and 14. Represents that part of thevalue of current output not puichased by Government and there-fore available to the civilian sector of the economy.

Line 8.—Sum of lines 9 through 13.Line 9.—These quarterly figures were published in an article

in the May 1942 Survey of Current Business.Line 10.—The interpolation for 1939-41 and the extrapolation

into 1942 was based on an index of durable goods output con-structed by combining various production and pay-roll seriesweighted by final cost estimates (Survey for April 1942). The1942 figures were based entirely on production series and arebelieved to contain no armaments manufactured in machinery

industries. Since the extrapolation was by output series, Gov-ernment purchases were deducted to obtain durable equipmentfor private use. The data for making the 1942 extrapolation arefar short of adequate.

Line 11.—Represents net change in physical quantities atcurrent prices. Interpolation based on estimates of the Bureauof Foreign and Domestic Commerce.

Line 12.—Based on monthly interpolations of Department ofCommerce annual figures prepared by Mr. Wendell Thome ofFederal Reserve Board. Excludes lend-lease exports andproducts purchased and used abroad for support of the armedforces.

Line 13.—Represents a combination of two series measuring(a) net export of gold and silver and (b) net change in monetarystock in current prices. When these series are combined thebalance represents gold and silver produced in United Statesand used for monetary purposes plus (possibly) imported metalused for nonmonetary purposes. This latter flow is believedto have been negligible for the period covered.

Line 14-—Sum of lines 15 and 16. Represents the outlay ofconsumers and of nonprofit institutions for consumption com-modities.

Line 15.—Annual figures from April 1942 Survey of CurrentBusiness adjusted for Government purchases and interpolatedby the Bureau of Foreign and Domestic Commerce's index ofretail sales of durable goods stores. In constructing the extra-polation into 1942 it was assumed that only 25 percent ofpassenger-automobile sales were to consumers.

Line 16.—Annual estimates of the flow of nondurable goodstaken from April 1942 Survey, adjusted for Government pur-chases and interpolated by retail sales of nondurable goods stores.Services based on an unpublished index prepared by the Bureauof Foreign and Domestic Commerce. As further work onservices is now in progress the series is not shown separately.

TABLES 4 AND 7

These tables give the national income by quarters in the formin which the data has been published annually for some years.The quarterly figures first appeared in the June 1942 Surveywhere statistical notes are available. It has been thoughtmost useful and convenient to include the income of militarypersonnel stationed abroad in the national income of the UnitedStates. This implies a slight modification in the previousdefinition of national income.

TABLES 5 AND 8

Line 1.—Quarterly figures as published in the June 1942Survey.

Lines 2, 3, 4-—These lines contain the adjustments normallymade in passing from national income to income payments.Transfer payments and employment taxes are available on amonthly basis, corporate savings on a quarterly basis. Militarysubsistence has been deducted from transfer payments so as notto appear in disposable income.

Lines o, 6, 7.—Includes Federal income and State and localincome, property, poll, and license taxes and fees. Representsall taxes paid by individuals from income not as part of price ofsome product or service. Federal tax collections are availableon a quarterly basis. Quarterly interpolations of State and localtax collections were made on a straight-line basis or according tocurrent collections of comparable Federal taxes.

Line 8.—Represents the balance of income payments to indi-viduals after payment of taxes.

Line 9.—From line 14, tables 3 and 6.Line 10.—Line 8 minus line 9. Although a residual, this series

has been checked against and found reasonably consistent withan independent quarterly series prepared by the Securities andExchange Commission.Digitized for FRASER



TABLE 9

Line 1.—Department of Commerce series as published in theJune 1942 Survey.

Line 2.—Includes all taxes collected from business enterprises,distributed on a liability basis. Collections of indirect taxeswere lagged one month wherever monthly figures were available.Interpolation of State and local taxes was made by utilizinginformation regarding the movement of tax bases and currentcollections of comparable Federal taxes. Income and excess-profits taxes were distributed in accordance with estimated netprofits after taxes on the basis of the Bureau of Foreign andDomestic Commerce's sample of published corporation state-ments. For 1942 corporate tax yields were forecast from thesample data using the rates of the Revenue Bill of 1942 as passedby the House of Representatives. The liability for propertytaxes was distributed along a straight line in the absence ofrelevant interpolating series.

Line 8.—Includes the depreciation and depletion charges ofall business enterprises plus an estimate of depreciation on farmproperty and on rented residences owned by individuals. Eachcomponent of the total was interpolated separately on the basisof its average relationship to some quarterly series. For exampledepletion was distributed by means of the Federal Reserve indexof minerals production and business depreciation was spread bymeans of the quarterly estimates of nonresidential construction.The resulting series should be regarded as approximate only.

Line 4-—Includes bad debts and special emergency and con-

tingency reserves. Bad debts were broken down by industry andinterpolated by means of sales or production series. Specialreserves were estimated from the corporate sample.

Line 5.—Interpolated by means of the quarterly movementsof the specific categories of producer's durable equipment whichinclude the items charged to current expense. The basic inter-polating series are data on production, shipments, pay rolls, etc.

Line 6.—Represents the difference between business inven-tories as reported and the change in physical quantity of goods ininventory translated into current dollars. Interpolations weremade on the basis of the Bureau of Foreign and DomesticCommerce's book value indexes. The series must be regardedas tentative and approximate at the present time.

Line 7.—This series contains all the differences betweenquantity estimates of gross national product derived by addingthe series 2 through 6 to national income and gross nationalproduct derived by adding consumer expenditures, privatecapital formation, and Government expenditures. Discrepanciesbetween the two methods are almost inevitable (1) because thecombination of interpolated series based upon financial andproduction data result in timing errors, and (2) because onlyvery inadequate materials are available for interpolating someof the smaller components in both of the totals. Discrepanciesfrom rounding also contribute to this residual since the billiondollar units in which the estimates were prepared are too roughfor certain of the smaller items.

Line 5.—From line 1, table 6.

The Business Situation

(Continued from page 9)

Production Expanding.

Insofar as vegetable oils are concerned, there isgeneral agreement that the probable 1942 output fromdomestic materials will be 3.9 billion pounds. It isalso generally accepted that total butter production in1942 will be about 2.3 billion pounds. However,differences of opinion regarding 1942 production arisewith respect to animal fats other than butter. TheDepartment of Commerce has estimated total lardoutput from 2.75 to 3 billion pounds, depending uponalternative policies which may or may not be adoptedby the War Production Board.

It likewise estimates the 1942 production of edibletallow, oleo oil, and stearine at 390 million pounds,again depending upon the full effect of a War ProductionBoard order requiring that additional beef fats be pulledat packing plants rather than shipped out with thecarcass and later partially recovered by Tenderers'collections from butcher shops.

Inedible tallow production is estimated at 1.85 billionpounds. This estimate includes about 100 millionpounds as representing the possible results of the house-hold grease salvage campaign.

At the time these estimates were made, it appearedthat if the above-mentioned policies were put into effectand a Nation-wide salvage program instituted, totaldomestic 1942 production of fats and oils would beabout 10.8 billion pounds. If the orders are not issuedand if the salvage campaign is not further stimulated,production will probably be not much in excess of 10.3

Imports exceeded exports during the first 4 months of1942, but it is expected that the situation will be re-versed in view of the fact that Russia has only recently-become the recipient of large quantities of fats and oilsunder lend lease.

The Food Requirements Committee has suggested aformula for the allocation of fats and oils. A compari-son of the quantities suggested for allocation underthis formula with estimated unrestricted consumptionindicates that the allocation formula would, if madeeffective, not curtail usage by more than about 5 percent.

The 1942 supply-demand prospect may be summar-ized as follows, but the necessity for proper qualifica-tions because of obvious uncertainties stemming fromwar conditions should be kept in mind:

Fats and oils(billion lbs.)

Factory and warehouse stocks, Jan. 1, 1942 2. 41942 expected domestic production 10. 3Imports of oils and oil-bearing materials 1.0

Total supply. 13. 7

Domestic disappearance expected in 1942 10. 6Exports 1. 4Stocks on hand, Dec. 31, 1942 1. 7

Total demand 13. 7

Assuming that no effective steps to stimulate domesticoutput are taken, that stocks are maintained, and thatthe adjustment reserve is given over bo inedible uses,it seems that there will be a 5 percent deficit of ediblefats and a 7 percent deficit of inedible fats. Supplies,then, are not serious]}^ below the level necessary forunrestricted use. The flow of goods to consumers willprobably bo sufficient to supply at least 95 percent oftheir customary wants.



The Lumber Industry Under WartimeConditions

By Joseph L. Muller and Charles W. Slifko

GOVERNMENT control of mill lumber sales anddeliveries, was partially established by the War

Production Board through Limitation Order L-121 inMay 1942. This was not a new experience for thelumber industry. On October 25, 1918, 18 monthsafter the United States had entered World War I, theWar Industries Board issued a similar control order onmill sales in order to assure an adequate supply oflumber for military and essential purposes.

Lumber Production Declined During World War I.

The lumber industry reached its peak in the year1909. The output of that year, 44 billion board feet,has never since been equaled. The decade of 1910-19was a period of decline with both production and con-sumption lower than in the previous decade. Resi-dential construction followed a declining trend and theera of substitutes for lumber had begun. Neverthelessthe markets for lumber were sufficiently extensive tosustain average annual output for the decade at 37billion feet. In 1916, the business boom generated byAllied war orders lifted lumber output back to 40 billionfeet.

This high rate of production assured an adequatesupply when, after the entry of the United States intothe war, large quantities of lumber were required formilitary purposes such as cantonment building, ware-house construction, and for ships and motor vehicles.It is significant to note that when it was found necessaryto restrict mill sales and deliveries, it was also intendedto limit production. While Circular 54—the restrictiveorder—was issued only 2 weeks before the war ended,the following provision was contained therein: "Eachmanufacturer . . . will, so far as is practicable, havingdue regard to the production of lumber for direct waruses, limit his production to the current demandtherefor . . . and will limit his items of productionfor export to those covered by export licenses/'

Certain measures had been enacted prior to thepromulgation of Circular 54 for the purpose of reducinglumber consumption in such established outlets as theconstruction and furniture industries. From 1917 to1918 lumber consumption recorded a decline of 4 billionfeet and in 1918 was at the lowest level of that decade.As the data in table 1 show, production followed thetrend in consumption and was correspondingly reduced.

The various official measures which reduced the non-essential uses of lumber during World War I were notbased entirely on a lumber shortage. Important other

considerations were the conservation of equipment bothin the lumber producing and consuming industries andthe diversion of manpower to the armed forces or toother essential industries. An equally important neces-sity for restricting lumber movement in nonmilitaryoutlets was created by the transportation problem. Itwas chiefly on the above grounds that the War Indus-tries Board in 1918, intended, through Circular 54, toimpose further limitations on the production and use ofall lumber, both softwoods and hardwoods, except forwar and essential purposes. In addition, this step wasa corollary of the price policy. Maximum prices hadbeen set on principal species and one objective of salescontrol was to diminish the force of competitive factorsin the price field.

Table 1.—Estimated Lumber Production and Consumption1910-19

[Millions of board feet]

Year

1910.191119121913 . . .1914

Production

40,01837,00339,15838, 38737, 346

Consump-tion

42, 96540, 91643,04741, 73839,155

Year

19151916191719181919

Production

37,01239, 80735, 83131, 89034, 552

Consump-tion

37, 57039, 69435, 88832, 01334, 065


Lumber Shortages Exist Today.In May 1942, about 6 months^after this Nation's

formal entrance into war; mill stocks had reached recordlow levels and difficulties in procuring lumber for mili-tary purposes had reached a serious stage. Industrywas officially requested to expend every effort to in-crease production and Order L-121 was issued re-stricting mill shipments of those grades of softwoodconstruction lumber essential to the war program.

In the years of depression which preceded the presentconflict, lumber production and consumption had de-clined to comparatively low levels. Lumber demandduring that period was further adversely affected hjstrong competition from newly developed constructionand fabricating materials. The 3-year plunge ofnational income from $83 billion in 1929 to $40 billionin 1932, was accompanied by a drop of 70 percent inlumber production (see table 2) and a 63 percent slumpin lumber consumption. In 1932 consumption wasmore than 2 billion feet in excess of production, butmill stocks, totaling nearly 9 billion feet at the begin-ning of that year, were entirely adequate to bridge theexcess of demand over output.



Table 2.—Lumber Supply and Demand, 1929-41[Millions of board feet]

Year

192919301931-19321933 .1934193519361937193819391940 . .1941

Lumber supply

Produc-tion

36, 88626, 05116, 52310, 82914, 69615,49419,53924, 35525, 99721, 64624,97528, 93432, 965

Imports

1,5431,219

749381359287438662687529707724

0)

Total

38, 42927, 27017, 27211,21015, 05515,78119,97725,01726, 68422,17525,68229, 658

Lumber dems

Con-sumption

32, 71324, 22717,41011,96813, 87314,13018,00522, 35123, 67921, 54625, 37728,19233, 683

Exports

3,0942,2711, 6601,1371,2751,3371, 3011,2721,414

9471,050

853(')

m d

Total

35, 80726, 49819, 07013,10515,14815,46719, 30623, 62325,09322, 49326, 42729, 045

1 Not available for publication.

Source: IT. S. Department of Commerce and the National Lumber Manufacturers'Association.

Consumption exceeded production every year begin-ning with 1930 through 1933 but was less than outputfrom 1934 through 1937. Beginning with 1938 up tothe present time, consumption again has been in excessof production, resulting in decreased stocks on hand,until in 1942, as a result of war demands they havereached exceptionally low levels. See table 6.

In recent years, as shown in table 3, there have beenstriking changes in lumber consumption. During theyears 1929 through 1934, only 52 percent of all lumberwas consumed in building construction. Beginning in1935, increasingly active construction has absorbed anincreasing proportion of all lumber consumed, reachingnearly 70 percent in 1940. Preliminary estimates for1941 and 1942 indicate at least 70 percent for bothyears.

Exports which had remained constant around 8 to9 percent of total demand from 1929 to 1934 (as shownin table 3) were around 3 percent in 1941 and arerunning less than 2 percent in 1942.

Table 3.—Estimated Apportionment of Lumber Consump-tion, 1929-40


Year

1929193019311932193319341935193619371938193919401941V

Total(100per-cent)

35,80726,49819,07013,10515,14815,46719,30623, 62325,09322,49326,42729,045

Building andconstruction

Quan-tity

18, 79912,60010,0586,5888,4128,133

11, 42714, 83015,58715,55118,22720, 28323,991

Per-cent

oftotal

52.5047.5552.7450.2755.5352.5859.1962.7862.0269.1368.9769.83

Boxes andcrating

Quan-tity

4,6454,0383,3582,5782,5492,6612,9283,1933,2882,8453,1373,3813,868

Per-cent

oftotal

12.9715.2417.6119.6716.8317.2115.1713.5213.1012.6511. 8711.64

Industrial

Quan-tity

6,0354,7932,2901,4251,6131,6702,0702,3122,3561,8932,3352,6593,426

Per-cent

oftotal

16.8618.0912.0110.8710.6510.8010.729.799.488.428.849.16

Railroadpurchasing

Quan-tity

3.2342,7961,7041,3771,2991,6661,5802,0162,4481,2571,6781,8692,398

Per-cent

oftotal

9.0310.558.94

10.518.57

10.778.188.539.765.596.356.43

Export

Quan-tity

3,0942,2711,6601,1371,2751,3371,3011,2721,414

9471,050

853

Per-centof

total

8.648.578.708.688.428.646.745.385.644.213.972.94

1 Preliminary estimate by U. S. Department of Commerce.

Source: Lumber Survey Committee Reports to U. S. Department of Commerce.

An average annual output of 20 billion feet during1930 to 1939 (as shown in table 2) sufficed to meet thetotal lumber demand. Production schedules therefore

had to be adjusted rapidly upward after the defenseprogram got under way in 1940. For on top of militaryrequirements and contrary to the World War I pattern,industrial and construction demand for lumber ex-panded with war preparations during 1940-42 andlumber was also called upon to compensate for shortageswhich rapidly developed in other materials.

Although lumber production steadily increased duringthe years 1939, 1940, and 1941, orders, nevertheless,were in excess of output. The disparity between pro-duction and orders which existed during those yearswas bridged by withdrawals from stocks, and mills weretherefore able to maintain shipments approximately atthe rate of orders. But the demand was heavily con-centrated on a small number of species and special sizesand grades. As a result, mill inventories at the end of1941 were the lowest on record and badly assorted inrelation to the prevailing demand.

Continued complete dependence upon inventories tofill the gap between output and orders has not been pos-sible during 1942. Consequently, shortages in certainitems have developed. Lumber is now termed "critical.''

Nevertheless, the lumber industry has the machinecapacity and timber resources through which the re-quirements of the war program can be supplied. Pro-duction can be increased to a point equal with demandby the removal of production handicaps and throughefficient procurement and use of the industry's output.Labor must keep on the job, maintenance and repairparts supplied, specifications liberalized, orders broadlydistributed, and buying coordinated.

The timber resources of this country are noted fortheir abundance and variety of species suitable fordiverse uses. But timber stands cannot be logged toobtain only those species in. greatest demand. Like-wise in sawing lumber, all logs do not yield preferredgrades and sizes. As an economic necessity and as afactor in efficient mill operation, alternate species,grades, and sizes which satisfactorily serve the purposemust be used, although they may not be the mostdesirable.War Has Created Heavy Lumber Demand.

The outbreak of war in Europe in September 1939,as previously indicated, brought a sharp accelerationin lumber demand. A buying movement on the partof lumber dealers w as set off immediately but, as itproved to be chiefly in anticipation of a large exportdemand, it subsided within two months. The demand,however, was sufficiently strong to effect an advancefor the industry. Lumber production in 1939 totaled24,975 million feet, a 15 percent increase over 1938.Demand totaled 26,427 million feet as compared with22,943 million feet in 1938.

While orders placed at mills in 1939 reached thepeak of the year as a result of forward buying, lumberdemand was basically strengthened by increased con-struction activity. The Department of Labor's build-ing indexes, based on permit valuations, were the



highest since 1930 for total building and for newresidential construction. Similarly, the F. W. DodgeCorporation reported a 10-year high valuation incontracts awarded for residential building and fortotal construction. It is significant that the construc-tion industry accounted for 68 percent of the nearly4 billion feet gain in lumber consumption in 1939 overthe previous year.

Lumber demand was further expanded in the iollow-ing year under the impetus of this Nation's war-preparedness program. Construction of Army canton-ments and camps was superimposed upon an acceler-ated program of defense housing and highly activeresidential building. Special defense requirements suchas shipyard lumber and timbers and increased industrialdemand contributed to the rise in the volume of ordersplaced with mills. As a result, orders in 1940 exceeded30 billion feet for the first time in a decade. (Theextent to which expanded construction activity con-tributed to the increased lumber demand is shown intable 3.) While total lumber consumption was 2.6billion feet higher than in 1939, 94 percent of theincrease was the result of construction demands.

At the same time, the recovery of durable goods indus-tries was an important factor in the lumber demand.Wood-using industries shared in the recovery to theextent that in 1940 lumber used in the manufacture ofvarious products increased nearly 100 percent since thedepression years. (The data showing the break-downof industrial consumption for 1940 are the latest avail-able, and are shown in table 4.)

The flow of orders to the mills increased rapidlyduring 1941 with the intensification of this country'smilitary preparedness program. Lumber purchases bythe important wood-using industries such as mill work,flooring, and furniture continued to increase in linewith the record construction activity. Other industrialpurchasing, principally by the railroads and the con-tainer industries, was expanding. But the lumber re-quirements for direct war purposes—cantonments, ship-building, airdromes, defense housing—reached suchproportions by the middle of the year that in mostinstances 90 percent of orders placed with mills wereconnected with war projects.

Shortages in certain lumber items were already evi-dent in the late months of 1941 when the SuppliesPriorities and Allocations Board issued the L-41 ordercurtailing ''noncssentiaP' construetion. Lumber de-mand eased noticeably following this action, but since itscharacter was largely determined by military require-ments, mill orders remained above 2 billion feet permonth. The total volume of new business bookedduring the year exceeded 34 billion feet, which was onlyslightly below the levels of 1929.

The current phase of heavy lumber demand wasinitiated with our active entrance into the war and it

can be fairly said that this phase is without parallel inthe history of the industry. Lumber requirements formilitary construction were made forcefully apparentwith the purchase during January by the Army aloneof nearly 1 billion feet solely for the construction ofcantonments.

In addition to the billions of board feet needed forhousing the Army and for numerous other projects suchas housing for industrial workers, off-shore bases,airdromes, and warehouses, there were added therequirements for trucks, bunks, boats, ships, and otheressential items as boxes and crates. A series of WarProduction Board orders have been issued which haltedor drastically curtailed the use of metals in many fields.These orders affect a long list of articles for homes,farms, factories, and offices including domestic refriger-ators and furniture, implement handles, window frames,and office furniture. For the manufacture of those andmany other products wood is the prime replacementmaterial. In May when mill sales of softwood con-struction lumber were restricted, the monthly rate oforders indicated a demand of about 38 billion feet forthe year 1942.

Table 4.—~ Lumber Used for Selected Products and TotalLumber Used in Manufacture, 1928, 1933, 1940l


Products 1928 1933 1940

Boxes, baskets, crates 2

Car construction and repairsFurnitureMillwork

Total of principal comparable products.

Agricultural implementsAirplanesBoot and shoe findingsBoxes, cigar and tobaccoCaskets and burial boxesDairy, poultry, apiarists' suppliesFirearmsHandles . -Laundry appliancesMatchesMusical instrumentsPencils and penholdersPlayground equipmentPlumbers ' woodworkProfessional and scientific instrumentsRollers, map and shade .Sewing machinesShip and boat buildingShuttles, spools, bobbins .Sporting and athletic goods-. _. . . . . _ -Toys . . .Vehicles, motor . . . .Vehicles, nonmotor _ . _ .Woodenware and novelties ..Other comparable products

4,9811,0091,3643,317

Total of minor comparable products

Total comparable products 4

Total used in manufacture

10, 672

1439

4938

15641

212539

116103405

16162413

128443039

86881

142692

2,963

13, 635

18, 098

2,356332747573

4,007

18

3,206548

1, 4221,823

6,998

42

3729126304

11624859142547536308212021560248

8913159602

22646823030ss92o139057345812522127565

1,126

5,133

6,112

1,925

8,923

12, 005

1 Includes lumber, veneer and plywood, and logs and bolts.2 The figures for boxes include wood used by commercial box, basket and crate

factories and by the wood-using industries for boxing, crating, and dunnage.s Less than 500,000 board feet.4 The comparable total includes all products except planing mill products for 1928,

and flooring and lumber for shipping by non-wood-using industries for 1933 and 1940 .

Handicaps Retarding Production.

Lumber production has been substantially increasedunder the impact of the consistently heavy demand. In



1941 the total volume of reported output was slightlyunder 33 billion board feet. This was the largest volumesince 1929 and a 32 percent increase in comparison with1939 production.

All major producing regions, both softwoods andhardwoods, contributed to the advance. It is signifi-cant to note, however, that more than half of the pro-duction was accounted for by about one-fourth of themills in operation. Production also has been aug-mented by a large number of small mills which cameinto operation, especially in the South, as a result ofexpanded market opportunities. The combined 1941volume produced in the Southern pine and in the WestCoast (principally Douglas fir) regions showed a 35percent increase since 1939. These two regions are theprincipal sources of softwood "construction" lumber

Figure 6.—Lumber Production and New Orders 1

BILLIONS OF BOARD FEET

1940 1941 19421 Includes only principal regions for which data are available for both production

and new orders.

Source: National Lumber Manufacturers' Association.

and their combined output represented 69 percent of the1941 softwood total.

Production in the first 6 months of 1942 was 5 percentless than in the comparable period of 1941. The dis-parity increased between production and new orders.(The relationship since 1940 of production to orders isshown in figure 6.)

Prolonged periods of unfavorable weather in thePacific Northwest and in the South have been partlyresponsible for this reduced production, but otherproblems have developed which accentuated theproduction-demand disparity. The diversion ofworkers to the aimed forces and to other war industriesinterfered with sustained operations. Labor turn-overin the logging camps and sawmills has been much higherthan in most manufacturing industries. (The rate ofturn-over is shown in table 5.) While replacementshave been generally obtained, loss of productivity hasnevertheless resulted. New help lacks the "knowhow/' not easily acquired, of experienced woods andmill workers.

At the same time, equipment problems have becomemore serious. The A-10 priority which has been

accorded to the industry for the procurement ofmaintenance and repair parts has not been sufficientlyeffective. Tires, tractors, cables, saws, and other equip-ment are vitally necessary.

Table 5.—Monthly Turn-Over of Workers in Sawmills[Rates are per 100 employees]

Date

February 1942March 1942...April 1942

Separation rates

Quit

4.315.607.46

Totalseparation

7.538.86

10.39

Accession rates

Newhire

5.366.478.54

Totalaccession

7.218.36

10.48

Source: U. S. Department of Labor.

As the importance of attaining maximum productionbecame patent, the War Production Board announcedin June that a liberalized policy of priority assistancewould be instituted and steps taken to stabilize laborsupply. The extent to which these current problemscan be resolved will determine, to a large degree, theability of the industry to achieve maximum production.The productive machine capacity is close to 40 billionboard feet annually. The number of mills in operationaccording to the most recent (1940) Bureau of Censusreport was 19,591. In 1926, when 36.9 billion feet oflumber production was recorded, there were 15,241mills. Timber resources are adequate. Although theyare not as readily accessible as formerly, modernequipment such as tractors and huge logging trucksreduce the difficulties.

It may be noted that in 1941 when lumber produc-tion reached 33 billion feet, there were 286 strikes inthe lumber and allied products industries (includes fur-niture and planing mills) which accounted for a loss ofover 1 million man-days of operation. On the otherhand, at the peak of 1941 lumber production, a monthlyoutput of over 3 billion feet was attained when exten-sive overtime operations were instituted, principally onthe West Coast. However, it is not possible to produce38 billion feet of lumber to match estimated require-ments this year. Barring labor troubles and givenadequate assistance in securing repair parts andequipment, production in the last 6 months of thisyear can be increased. But to reach 38 billion feetfor the entire year would require more than a 50percent gain over the volume produced in the first half.

Mill Stock Reduced to Meet Demand.

Though the increase in production since 1939 has notbeen achieved as rapidly as the expansion in the lumberdemand, mills have until this year maintained ship-ments nearly at the levels of incoming orders by with-drawals from stocks. At the end of 1938, mill stockstotaled 8.6 billion feet. With almost steady reduc-tions in the following years, the volume of inventoriesdeclined 2.3 billion feet by the end of 1941.



The 6.3 billion feet of mill stocks available at thebeginning of this year were equal to better than a 2months' supply. But it must be kept in mind that theprevailing demand is running heavily to certain species,sizes, and grades. Shipments continued in excess ofproduction during the first six months but averaged 8percent less than new orders. Consequently, stocksdeclined further and unfilled orders increased. OnJuly 1, mill stocks totaled 4.9 billion feet of which 69percent was covered by unfilled orders; unsold stockstotaled 1.5 billion feet. (The trend of production,shipments, and stocks since 1940 is indicated in table 6.)

Table 6.—Total Reported Lumber Production, Shipments,and Mill Stocks, by Quarters, 1940-42


Date

First quarterSecond quarterThird quarterFourth quarter

Year

Production

1942 1941 1940

6, 9668,1389, 4007, 500

7, 5218, 4419, 0157,988

32. 004 32, 965

6,1017,2697, 7657,799

28, 934

Shipments

1942 1941 1940

7,737 7,7299,088 8,4569,500 9,3678,000| 7,967

34, 325 33, 519 30, 095

6,1497, 2558, 2438,448

Stocks (end ofquarter)

1942 1941 1940

5, 5954,9004.8004, 300

6,5576, 6506,2946, 348

7,6167, 6667, 2536, 753

NOTE.—Second Quarter 1942 preliminary.

Source: Reports of regional associations to the National Lumber Manufacturers'Association. Third and fourth quarter 1942 estimates by U. S. Department ofCommerce.

Lumber Prices Increase.

Lumber prices have increased sharply since the be-ginning of this war. From 1939 up to the time thatthe first of the price ceilings was established in Sep-tember 1941, an advance of 31 percent had been re-corded in the Department of Labor's wholesale priceindex of construction lumber. In general, the upwardtrend of lumber prices was most pronounced in theperiods of greatest inventory declines. But priceswere also affected by competitive buying and by in-creased production costs.

The steepest price advance was initiated in September1940, when the defense construction program was super-imposed upon an already strong lumber market. Cor-rection of Government buying methods, the creationby the Army of a lumber "stock pile/' admonitionsby the Price Stabilization Division of the Office of Pro-duction Management, and the prospects of a weakenedconstruction demand through official restrictions on"nonessential" construction brought about a stabiliza-tion of prices at the close of 1940 and for several monthsof 1941. In the middle of 1941 the lorward price move-ment was resumed and currently the price index is atthe highest level since 1920 and above that whichprevailed during World War I.

The demand for special grades and sizes for directmilitary purposes created a problem with a direct bear-ing on production cost. In cutting such items, saw-mills unavoidably accumulated stocks of other cutsfrom the balance of the log. Disposal of such stockwas noticeably difficult as more stringent curbs were

imposed on residential housing. This problem was atone time particularly acute on the west coast when asa result of the lack of intercoastal water transportation,the usual outlets for this lumber could be reached onlyby the more expensive rail facilities.

Lumber prices also reflected the increased cost ofstumpage (logs). In some instances these increaseswere reported to be as high as 100 percent. On thewest coast, one of the major softwood regions, log pricesnoticeably increased as a result of a tight supply posi-tion and the intense competition between the majorlog consumers.

A further important factor in the price picture wasthe increased cost of labor. In July 1941 labor in theNorthwest region was granted wage increases. Mini-mum wage rates were also established for the entire

Figure 7.—Index of Wholesale Prices of ConstructionLumber

1926 = 100140

120

100

8 0 I . M M I M . M I M l 111 I 1 , M l I , I , M I I , I ,

1937 1938 1939 1940

Source: U. S. Department of Labor.

lumber industry on November 3, 1941; these ratesdirectly increased the wages of over 200,000 workersemployed principally in the Southern States.

The almost steady rise in lumber prices resulted inthe establishment of maximum or "ceiling" prices bythe Office of Price Administration. A schedule forsouthern pine lumber, one of the principal softwoods,was the first to be issued (September 5, 1941). Shortlythereafter a maximum price was established for Doug-las fir, and subsequently on additional species includinghardwoods. While the general trend of prices con-tinued upward after the ceilings were set, this was dueto the rise in items not then covered. The increase inthe price index since the ceilings were established hasbeen about 2 percent.

(The course of the lumber price movement immedi-ately preceding and since the war is shown in fig. 7.)

Exports Decline Sharply, Imports Increase.War conditions have caused a sharp decline in lumber

exports. Thus the pattern of export movement duringWorld War I has been repeated. As can be seen infigure 3, the 1941 export volume was the lowest inmore than forty years. The rate of exports in thefirst four months of 1942 indicate a further reduc-tion of about 30 percent in the present year. Lend-

A' \

1 M M I M M 1 M l I I I I M I 1 | , , M 1

J r

i

< * -

.....In...1941 1942

O.O. 42-31?



Lease shipments remain as the only important factorin the current trade. And it is certain that the recoveryof export markets will have to wait on a future periodof reconstruction.

The expanded wartime markets in the United Statesare reflected in the steady, and substantial, increase inlumber imports. The increase in 1941 as compared

Figure 8.—Domestic Exports of Lumber \BILLIONS OF BOARD FEET4

1910 'II '12 '13 '14 '15 '16 '17 '18'19 '20'2i '22'23'24*25'26'27'28'29'30*31 *32*33'34*35*36137138>39l40 '41

1 Data include sawed timber and boards, planks, and scantlings; data for 1941 arenot available for publication.


with 1938 was over 150 percent. Moreover, the vol-ume of imports exceeded the export volume by 134percent, recording for the first time in this Nation'slumber history, an import volume greater than exports.

Outlook for Remainder of 1942

War construction plans and programs are being ex-panded and accelerated in order to satisfy both militaryand civilian needs. Military requirements can be metand civilian needs partially filled by sustained produc-tion, if procurement difficulties can be overcome andif sufficient information is given in advance to the lum-ber industry so that cutting schedules can be adjusted.

Lumber production in recent months has been trend-ing upward and it is possible that the output of lastyear can be equaled. Production, however, cannotbe increased sufficiently during the remaining monthsof 1942 to meet both military and civilian require-ments estimated at 38 billion board feet. The deficitwill require additional withdrawals from stocks.

The lumber industry is very seasonal. Wintermonths are unfavorable to logging and saw mill opera-tions. Production, therefore, during the third quarterof the year, will probably increase but will unavoidablydecline during the fourth quarter as snow and rainhamper operations and mills shut down for repairs.

Disregarding seasonal influences, other factors, citedabove—the loss of workers to the armed forces, thegrowing scarcity of manpower, and increasing difficultiesin getting replacement parts—are also operating effec-tively to reduce output. The Government is assisting,as far as possible, to reduce these difficulties by grantingdeferment to ke} men, disapproval of labor "pirating,"and by higher priority ratings for urgently needed oper-ating equipment. Constructive action of this type,however, is definitely limited. It seems most likely,in view of current developments, that lumber produc-tion, after the third quarter, will continue for the bal-ance of the year and during 1943 at lower levels than incomparative periods of 1941 and 1942.

Although approximately a 10 percent decline isexpected in 1943 production, it will be accompanied byan estimated reduction of almost 7 percent in lumberrequirements. Clearly the supply-demand position ofthe lumber industry shows no prospect of improvementin the near future. Efficient and conservative use oflumber is essential. Increased use of alternative species,grades and sizes, and advance notice of orders andspecifications will materially assist mills in meetingwartime needs.



NEW OR REVISED SERIESTable 15.—ESTIMATED SALES OF ALL RETAIL STORES BY KINDS OF BUSINESS l

[Millions of dollars]

Year and month

1935January...FebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember

Total

Monthly average-

1936] f I

Total

Monthly average

1937January . . .FebruaryMarchAprilMayJuneJulyAugustS eptem berOctoberNovemberDecember

Total

Monthly average

1938

Total •_..

Monthly average

1939J an uaryFebruary .MarchAprilMayJuneJulyAugustSeptember...OctoberNovemberDecember

Total

Monthly average

Allretailstores

32, 791

2,733

2,5122,4662,9543,2273, 3643,3863,1953,1433,2413, 4723, 3184,130

38, 408

3,201

2,8992,8183,6213,6423,8293,7153,5363,4713, 5863,6733,4183,940

42,148

3, 512

38, 784

3, 232

Nondu-rablegoodsstores

By kinds of business

Buildingmate-

rials andhard-ware

dealers

25, 165 2, 656

1

9

1111

10,

8,

769768824021

794

816

675672979044115080010979862855799812

882

907

566551737766794771719748683748SO 7919

811

Z, 47 Z2, 7042,4943,109

28, 614

2, 385

2, 2242, 1462, 6422, 5972,7142, 6352, 5262,4922,7242,8182.6183,128

31,266

2,606

2, 2262, 0832,4382, 5632,4532 4652,3122. 3952 5442, 6752, 5983. 221

29, 973

3,088

257

3, 320

3,091 I

258 I

10, 376

865

2, 2412,1392, 5732. 6102,7002,6282.4482. 5582,7882,8242,7783, 376

31,663

2 639

213188267291278256194219296314299444

3, 259

2"2

1, 864

Eating jDrug andstores drinking

places

Foodstores

Fillingstations

Generalmer-

chandisestores

651634689686719695695704671722728768

115117145159173178196199178184169156

House-holdfur-

nishingsstores

7080 191 •'

112122 ,112 !101 !

112 '106124116 ;144

Otherretailstores

201202243263265262249257251275276317

8, 362 ., 730 !

478 !

5,498

3,060

236232279305319322304300310333319399

1, 381 9,208

767

1, 624

2, 687 1, 500

125

268 !259 1

576 i864 I

6, G80

.543 !

II

10,165

847

For footnotes see p. 25.



Table 15.—ESTIMATED SALES OF ALL RETAIL STORES BY KINDS OF BUSINESS '—Continued[Millions of dollars]

Year and month

1910JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovember..December

Total

Monthly average ._

1941JanuaryFebruary _March _"April . . . .MayJune . . . . . . .__July _.._AugustSeptemberOctoberNovember.. _December

Total..

Monthly average,..

AHretailstores

3,1883,1143,6963,7623,9743,8833,6433,7583, 6734,1434,1084,752

45,694

3,808

3, 6353,5384,2144,6264,9304,6064, 5094, 6384,4804,6754, 5345,473

Durablegoodsstores

758765958

1,0721,1281,1171,044

959888

1,1391,1061,221

53, 858

4, 488

12,157

1,013

1,0081,2541,4411,5901,4771,3831,2591,0621,1281,0671,237

14,875

1,240

Nondu-rablegoodsstores

2, 6662,5302, 9603,1853,3413,1283,1263,3803,4183, 5473,4664,236

38,983

3,249

By kinds of business

Apparelstores

227201299260284271204252298321334461

3,413

284

251219296365348300253334393387388557

4,092

341

Auto-motivestores

450450588633635655608490431629629620

i,819

568

590635810893972891804617445528518522

8, 226

686

Buildingmateri-als andhard-ware

dealers

170170210256284269265270270300262263

2,987

249

213200247314343339346353360366312331

3,722

310

Drugstores

Eatingand

drinkingplaces

129127135129135133135138134138136181

1,650

138

142133144144155149155159158156159211

280310296306297301326320332319346

3,721

310

318309344341356344355383383393384

4,319

360

Foodstores

856837893881924887896919856920930

10, 764

897

875975984

1,053997

1, 0501,0631, 0521,1251,0901,218

12,411

1, 034

Fillingstations

Gen-eral

mer-chandise nislii

stores

208195228241263276269289262268247237

2,982

249

226212249276314311342349322318289290

3,500

292

426418523527562541453524571635654958

6,791

566

House-holdfur-

ingsstores

Otherretailstores

114124136158179161145169158179179233

321313374380402393368380372421419489

459449552636654601549661706724735

1,106

7,830

653

137146168201232203197245202200194261

2,387

199

1, 934 4, 633

161 386

359429473504470459473458478465568

5,507

459

1 New series. Estimates compiled by the U. S. Department of Commerce, Bureau of Foreign and Domestic Commerce. For a description of the data and indexes of sales,see pp. 18-25 of the October 1911 Survey. For data for 1942, see p. S-6 of this issue.

Table 16.—DEPARTMENT STORE SALES—RICHMOND FEDERAL RESERVE DISTRICT l

[1935-39 = 100]

Month

JanuaryFebruaryMarchApril.MayJuneJulyAugust,SeptemberOctoberNovemberDecember

Monthly average

JanuaryFebruaryMarchAprilMayJune,.Juh

9191939995

106101

August 96September I 99October 94November | 98December I 96

uly.

1923 1924 1925 1926 1927 1928 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941

Without adjustment for seasonal variations

69671039098100727888114112163

77759110410094717194

m111170

97

7576981059995757989130115180

101

817910710410998798294124123186

106

807910111310699799399122124194

107

81831131031091007982104125126194

108

82801221031091027886103128125195

109

77809911311294727693126109174

102

7273100101989366688310790153

92

5761797676674750728576118

72

4747567072644761748880133

70

56559374888056677910494156

84

595984908883647188109103166

89

6466889610194757798128112192

99

7173114981101027579111128112194

106

72729610594927078105120108197

101

7071104101107987184112124122208

106

778011510612011085104128146144227

120

9091125143148127109140154165168265

Adjusted for seasonal variations

1009899999610396911019210096

991031051009910010110197109104102

110106105103109104106104102108107105

109107106106106105109113106107108110

110107106107106106113108116103110

m

109107111109106114109114116105110113

104108103107108104991041001039997

9798991019899919389888285

828171797572696771726766

686758706967697773757375

797983838584868481858G88

838691868490909090899492

909295921019810610196104107103

105106103104110107107105109108102104

10610510110094961029910210199105

104103103106103103105106110104111116

110112109113116120121132131119132127

128132135137142138154185151134160142

1 Revised series compiled by the Federal Reserve Bank of Richmond based on sales data of a sample group of department stores in this District. The present sample com-prises 79 stores. The number of reporting stores has varied considerably over the period 1923 to date. Beginning in 1923 the sales figures have been chained together for eachstate of the District to secure comparability with the latest data. State figures were placed on an average daily basis adjusted for seasonal variation and converted to thebase 1935-39=100. In constructing the District index the state indexes were "combined by weighting each state by its relative importance according to Distribution Censuses.For 1942 data see p . S-7 of this issue.

4 7 3 8 1 5 — 4 2 4Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis


T a b l e 17.—DEPARTMENT STORE SALES—SAN FRANCISCO FEDERAL RESERVE DISTRICT1

[1935-39-100]

Month

JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember

Monthly average

JanuaryFebruaryMarch,/AprilMayJune- - -JulyAugustSeptemberOctoberNovemberDecember

1920 1921 1922 I 1923 I 1924 1925 192G 1927 | 1928 ! 1929 | 1930 | 1931 | 1932 1933

Without adjustment for seasonal variatio


556163636067696973727376

807878838284838484808080

82817678757675747673727?

73737475797677777782S384

838789909190959291949295

959493919192919391939393

93969798999910199100100104100

101101105105104106104106107104105110

105105108107108107106108108105109106

108109105113109107111111110112109112

96 i93103102111'10090101115117121193

92 !93 |98 I106 :104 '9(1X494104106106167

X4 ;8394 i98 \98 l

87 ;78 ;85 ;93 i92 I93 !139

68 ;68 I

70 i65 :55 i64 I71 i74 !66 |109 '

71 |

516768636067737170125

193? I 1938 | 1939 j ti»40 1941

71828384141

79919797156

7174859393948792109109109178

80 i84 I101

89 i97 In o !112111178

797886989892839398104113175

82 87 j86 ! 90 j95 I 106 !105 I 105 |103 11199 i 10690 : 98 •9 9 j 110 i114 125 i119 ! 122 |

131 I

86 I 100 I 105 i 100

116 !198 ; 211

109 | 117

113 :111 |109 i1 1 1 I114111112 j110 |113 !114 !114 !115 !

110 i112 !

no !108106107 !104103 ;103 5102 |101 !99 l

101 I99 jioo j103 !ioo97959291878882

838178757372 !68 !69 |69 |

" 1 i63 |70 ;

6<66 i

919395 |9596101103100103103102104

103106

10399

106 j

108 i109106108107107105106107105104

971001021001001019498108100

105110107108108108109113110116

113 !114 j114 I113 !114 I114 i118 I119 I120 j116 I125123

99103]16128129126120154156145158235

139

128131130132134136144168149138151138

1 Revised series. Compiled by the Federal Reserve Bank of San Francisco. The revision entailed the inclusion of data from about 50 additional national chain stores anda number of larger independent department stores in areas heretofore underrepresented, a change of base from 1923-25 to 1935-39, bringing seasonal factors up to date, and theintroduction of several technical improvements in the series. Monthly dollar estimates of total department store trade were computed for each community for which reportswere available by adjusting data for reporting stores to levels indicated by Census data. The estimated monthly sales for each community were reduced to a daily averagebasis by dividing by the number of trading days, with allowance in the case of major city series for differences in the relative importance of each day in the week. Daily aver-ages for metropolitan areas, regions, and the district as a whole were obtained by aggregating the proper city series, usually with additional weighting to account for trade ofnonreporting cities. Daily averages for all cities and areas were then expressed as percentages of the 1935-39 daily average. Seasonal factors for each city and area were com-puted according to the method outlined in the Federal Reserve Bulletin for June 1941. The method used in determining adjustments for the changing date of Easter is de-scribed in the Federal Reserve Bulletin for April 1928. Seasonally adjusted indexes for the district were computed by combining seasonally adjusted daily averages for thecities or sub-areas included and proceeding as with unadjusted indexes. For 1912 data, see p. S-7 of this issue.

Table 18.—DEPARTMENT STORE SALES—PHILADELPHIA FEDERAL RESERVE DISTRICT 1

[1935-39 = 100]

Month

JanuaryFebruary...MarchAprilMayJuneJulyAugustSeptember-.OctoberNovember-

Monthly average-

January...February,MarchAprilMayJuneJuly..

1934 1935 1936 1937 1938 1939 1940 j 1941

Without adjustment for seasonal variations

121127140 j132142148110119122160is;

December 241

127134128150138141107117120149179239

146 I 144

121127131145139139105117120169188246

93


138142150141146155145

August 147September . . . . 147October 148November I 146December j 144

145150150148142148141145143137141142

140144148148143146138147141153149144

156147150143158145150149150151146148

147144144144142143145149138138142141

130131142131135136142127146134132142

137135145130132139132138143141134139

136 i 121135131128128123118124123129125119

124122120116116107107104101101100

102101891009286817879878078

797774848282839090868284

858394919493899388908792

888799878995939596929697

939610398104102105107102105107106

108108109104114109108105108107104100

103 I 107 I 95 ! 102

687294981051007378101122130194

7982105981131057477108125129185

747783928588646696109118183

70749397101946771109116137199

747699941071057186115126144213

809010612612411789115134136168238

104102103104108110107117110111113114

112121118133126123135155125119132127

1 Revised series. Compiled by the Federal Reserve Bank of Philadelphia based on daily average sales of a sample group of department stores in the Twelfth Federal ReserveDistrict. The sample now comprises 73 stores, including branches of national chains. The revision involved changing the has 3 from 1923-25 to 1935-39=100 and a recom-putation of the seasonal factors. Data for 1942 are shown on p. S-7 of this issue.


August 1942 SURVEY OF CURRENT BUSINESS S-l

Monthly Business StatisticsThe data here are a continuation of the statistics published in the 1940 Supplement to the SURVEY OF CURRENT BUSINESS.

That volume contains monthly data for the years 1936 to 1939, and monthly averages for earlier years back to 1913 insofar asavailable; it also provides a description of each series and references to sources of monthly figures prior to 1936. Series added orrevised since publication of the 1940 Supplement are indicated by an asterisk (*) and a dagger (f), respectively, the accompanyingfootnote indicating where historical data and a descriptive note may be found. The term "unadjusted" and "adjusted" used todesignate index numbers refer to adjustment of monthly figures for seasonal variations.

Data subsequent to June for selected series will be found in the Weekly Supplement to the Survey.

Monthly statistics through December 1939, to-gether with explanatory notes and referencesto the sources of the data, may be found in the1940 Supplement to the Survey May

BUSINESS INDEXES

INCOME PAYMENTS!

Indexes, adjusted:Total income payments 1935-39=100.

Salaries and wages. _. . .doTotal nonagricultural income -do

Total mil. of dolSalaries and wages:Total do

Commodity-producing industries..doDistributive industries doService industries doGovernment.. doWork-relief wages do

Direct and other relief . . . doSocial-security benefits and other labor income

mil. of dol_.Dividends and interest.. - . . doEntrepreneurial income and net rents and

royalties--.-. . mil. of dol. _Total nonagrieultural income do

AGRICULTURAL INCOME

Cash income from farm marketings:Crops and livestock, combined index:

Unadjusted __ .1924-29=100-Adjusted do....

Crops do . . .Livestock and products do_._

Dairy products do___Meat animals. . do . . .Poultry and eggs do . . .

INDUSTRIAL PRODUCTION!{Federal Reserve)

Unadjusted:Combined index! 1935-39=100..

Manufactures! doDurable manufactures?. do

Iron and steel! doLumber and products* .do

Furniture* doLumber* do

Machinery* doNonferrous metals*! doStone, clay, and glass products*..do

Cement _. -doGlass containers* doPolished plate glass do

Transportation equipment*! doAircraft*! _do.._Automobile bodies, parts and as-

sembly* 1935-39=100_Automobiles, factory salescft- - -do.. .Locomotives* do .Railroad cars* do.- .Shipbuilding (private yards) • . . do. . .

Nondurable manufactures do . . .Alcoholic beverages* doChemicals* do- -.Leather and products do

Shoes* do . . .Manufactured food products*!--_ do

Dairy products*! doMeat packing do

Paper and products* . . .doPaper and pulp* do

Petroleum and coal products* doCoke*.- d o — .Petroleum refining do

Printing and publishing* doRubber products* doTextiles and products.. do

Cotton consumption* doRayon deliveries*! doSilk deliveries* do . . . .Wool textile production* do

Tobacco products do

v 165. 4v 179. 9v 163. 0v 9, 537

p 6, 470v 2, 974

(a)

(a)

(a)

53

1,146

v 1, 667v 8, 651

p 118.0v 130.5

P94.0v 164.0v 131.0* 195.0v 136.0

*>2450)

v 16218317137

*'3990)

p 1100)p 153169169

0)151132

137.0146.0137.97,937

5, 2422,3071,20090372810493

1591,114

1,3297, 334

138. 9147.6139.27, 739

5,1682,3461.2071)066238690

157919

1,4057,057

86.096.081.0110.0107.5117.590.0

160165198184140150135214187171174163149244930

161164280233428138130138120122128188121143147128

'15512412719215516017366163128

99.098.583.5

112.5107.5122.590.5

15916419618514414914221619116517716196229997

13513430723346713813113912613013718111913914312915412511615315516217369157123

141.1149. 3140.77,518

5,2632,4201, 2189096368090

155463

1,5476,714

123.0102.095.0109.0112.5114.087.0

162167199185151157148224189174181174109221

1,113

1204730623648514212214213013715216711614615013115412812113015416017050166122

143.1150.1141.38,280

5,4312,4811,22991073279

151918

1,6917,328

144.5110.099.0

120.0122.5129.088.5

16717220619214815614422719117518416S120245

1,204

13474

319249560145137148129132159142 |119149151134152131125131151156168

32169132

145.4152.6143. 58,508

5, 5922. 539I, 2519277958089

152855

1,8207, 435

lfil.O111.5101.5121.0124.5128.092.0

168173210191145159138231185175185172117269

1,290

14611033527863414313715312712514311513415115513515313213113415016117210164133

146. 6153.7144.58.071

5, 5552,5051,2459248027990

152549

1, 7257,109

137.5112.5101.5123.0131.5122.5106.5

167173209191134154124229190169171170120275

1,340

142123338264645144118151123

154.7161. 5150. 39,397

5,8302,5501,4009518428792

1591,583

1,7338,456

128. 5134.0124.5143.0131.5153.5132.0

164171212196128155113241192147153153

05°

120(2)0)0)(013810*153116

11613999152152159136153134138

(015616717915

166134

0)1541551790)178110

155 7163.2152.08,424

5, 6652, 533(

)7794

174820

1,6717,580

112.0133. 5119.0147. 0131.5154. 0154. 5

16517221519112214211224819313813716568304

0)

US

(0(0137112155124120

v 124MOO173151159132161128125

0)158169180

(0161126

156.9 158.4166. 0 168. 6153. 9 156. 07,98;

5, 731 5, 9052, 609 2, 670

173437

1, 5517,259

93.0129. 5105.5151.0139. 5156. 0157. 0

167174 |

' 219 |193128

' 14711825519013213216447

'312

(138117161131126

" 122p 111135153160129161124126

(')156174174

0)'153121

94

177924

1,5997,935

100.5127.0104.0147.5129.0154.5157.0

168177226

0)129147120

'264185

r 14014117643327

0)r 104(2)(00)0)137113'166128129

v 121v 127131155161122160116126

0)153169175

0)148117

161.5 ! 162.7172.1 175.3158.3 I 160.38,802 ! ' 8, 622

6,0662,781(a)

(a)

(a)

6892

171810

1,6637,965

109.5136.0114.0156.5138.5171.0147.0

r108 i(2) '0) !0) !0) i138 !113 i167 i130 !130 ;

p 123 |P 150 |134 I151 !157118162111

r 1230)157177170

0)153119

6, 2512. 898

()(a))' 58

166485

' 1, 631- 7, 800

'"110. 5'i 130.0113.0

' 145. 5r 133. 5r 156.0133.0

171180232

132142127268183153161176433460)

pp

'

r

0

175183239

13514313127418816617819035371)

0)0)0)

138120166123121

"130P200

140144149117164110

' 115

156175169

123

'Revised. p Preliminary. cfFormerly designated as "automobiles." a Publication of data discontinued to avoid disclosure of military pay rolls.1 Included in total and group indexes but not available for publication separately.1 Beginning in December 1941 this series dropped from the index of industrial production and its weight transferred to the automobile bodies, parts, and assembly

series, which is more representative of production by the automobile industry.fRevised series. Earlier data on income payments revised beginning 1929 will appear in a subsequent issue. For industrial production series, see note marked with a

" t " on p. S-2.•New series. See note marked with a " t " on p. S-2. ^Revisions appear in the September 1941 Survey, see note marked with a " t " on p S-2.Digitized for FRASER


S-2 SURVEY OF CURRENT BUSINESS August 1942

Monthly statistics through December 1939, to-gether with explanatory notes and referencesto the sources of the data, may be found in the1940 Supplement to the Survey

1943

June

1941 1942

June July August Sep-tember

Octo-ber

Novem-ber

Decem-ber

Janu-ary

Febru-ary March April j May

BUSINESS INDEXES—Continued

INDUSTRIAL PRODUCTION!—Con.

Unadjusted—Continued.Minerals? 1935-39 = 100..

Fuels* __. doAnthracite doBituminous coal doCrude petroleum do

Metals** do-. . .Copper* doLead doZinct do

Adjusted:Combined Indext do.. . .

Manufacturers^ doDurable manufactures^ do

Iron and steelt doLumber an d products* do

Furniture* doLumber* do. . .

Machinery* doNonferrous metals*X do..__Stone, clay, and glass products*..do

Cement doGlass containers* doPolished plate glass do

Transportation equipment** do, _.Aircraft** do .Automobile bodies, parts and assem-

bly* 1935-1939=100. _•Automobiles, factory salescTt-.. do.. . .Locomotives* _ doRailroad cars* doShipbuilding (private yards)*..do

Nondurable manufactures .doAlcoholic beverages* doChemicals* doLeather and products do

Shoes* . . . . do . . .Manufactured food products **._ do

Dairy products** ...doMeat packing do

Paper and products*.. doPaper and pulp* do

Petroleum and coal products* doCoke* doPetroleum refining.. do

Printing and publishing* doRubber products* doTextiles and products._ do

Cotton consuroption* doRayon deliveries*i doSilk deliveries*. doWool textile production*....... do

Tobacco products doMinerals*-. do

Fuels* - .. .doAnthracite doBituminous coal.. ..doCrude petroleum do

Metals** - -doCopper* j - doLead* doZinc* _. do

120117144111194

MANUFACTURERS' ORDERS, SHIP- IMENTS, AND INVENTORIES* !

INew orders, total Jan. 1939=100. j

Durable eroods do jElectrical machinery do jOther machinery do !Iron and steel and their products do !Other durable goods . .do.

Nondurable goods do.

185243

)130143124280192

' 1401451H337

'399

0)v 138

104v 171v 128v 128p J36p 143

153

163

(0v 153

169169

0)151122

v 132v 127v 127v 168v 111v 159

P 2 9 4*>493v 533p 577P 2 9 8P 7 2 3v 167

P 2 0 2»256P 163P 2 5 3

r 132123 I

<- 120r 133120181 I152 |110136 j

159 i164 !195 |184 j135 !155125214186149138155152243930

148280233428139122144132138127124124145149127

••15512312819215616017373163118

'133' 130••131M55120151155117136

229330316298289429164

170207202214218201

130121107128119184147110125

160165199185141161131216192151143154146255997

16815430723346713813014613013412612612514615012815412412715315516217377

157114131127137146119151156114125

212295339294281301159

163197178208199198

125120135122187152116131

r 161166199185140152134224189154148159133241

1,113

14193

30623648513912814512212113212713414715213015412612913015416017056

166118132129162147119148155116131

196257309290223265157

16819295

201209210

137129122144124182152120135

161167203192136149129227192157154165120245

1,204

13474

31924956013713114612011813013912614414913215212812513115115616834

169121131128127139124

••145154120135

202260304265249258165

185212133226232216

Shipinents.total...—-average month 1939=100.Durable goods do

Automobiles and equipment doElectrical machinery doOther machinery doIron and steel and their products doTransportation equipment (except

automobiles) doOther durable goods d o —

Nendurable goods doChemicals and allied products... doFood and kindred products doPaper and allied products doPetroleum refining.... doRubber products doTextile-mill products doOther nondurable goods -do,

t:Augufor the latter seimetals) are avaand products, \.~ ~~~,recent conditions have obliterated seasonal movements and the seasonal factors have been fixed at 100 beginning at some time in 1939 or 1940; see latter part of note markedwith a " t" on p. S-2 of the February 1942 Survey (except that the date for the automobile series given at end of note should read September 1941 instead of 1940).

•New series'. For industrial production series, see note marked with "f". For description of data on manufacturers' orders and shipments and February to June 1939indexes of new orders see pp. 7-13 September 1940 Survey; see subsequent monthly issues for later indexes of new orders. Revised figures beginning January 1939 for shipmentswill be shown in a subsequent issue.

138131123142127181156119134

163169207191135146129231185158159167102269

1,290

14611033527863413912914812512313414613314615013315312912713415016117210164128130127116127128146151119134

193239359246213227163

183215178218222207

13513099143128161157128131

166••173208191135148128229190162164169105275

1,340

142123338264645144109149134134141146135153160135153133136

0)1561671791516613213112897125132147152127131

212265314326225258178

183220190230233201

1251299413812998159124138

'16817421519613814913224119316719116567278

120

141116152128131137155142155162139160135130

0)1541551790)17812913112789124132153157122138

232332396367248413167

188228174260247208

803186157163151171

12513110414412991158131138

17117922219114315313824819419924918465304(0118

(ij(00)143139156127125

v 140

*>155

148154161135161131128(0158169180

(016113213112889129132

»" 151161131138

268414347414245719174

184214152211229200

829176161170160171

292463452648256645182

0) 0)

292449548467274677192

200239131259279207

1,108196168173159165132159213172

'270'432'648'669'216'490' 167

' 203' 254'129' 270'297' 216

' 1, 266'206'164'170' 164'154' 139171

' 189' 156

pp.l2-17ofthesemblv:" data


August 1942 SURVEY OF CURRENT BUSINESS S-3


1942

June

1941 1942


Octo-ber

Novem-1ber

Decem-ber

Janu-ary

Febru-ary March April

BUSINESS INDEXES—Continued

May

MANUFACTURERS* ORDERS, SHIP-MENTS, AND INVENTORIES*—Con.

Inventories, total average month 1939=100.Durable goods do . . .

Automobiles and equipment doElectrical machinery doOther machinery doIron and steel and their products doTransportation equipment (except auto-

mobiles) average month 1939=100.Other durable goods do

Nondurable goods doChemicals and allied products doFood and kindred products doTaper and allied products. doPetroleum refining .doRubber products doTextile-mill products __.doOther nondurable goods do

v 173. 2v 193.9v 222. 3v 277. 0p 203.4P 132. 4

* 808. 4v 140. 8P 155.1P 162.4p ifiO. 3v 148. 5p 111.7p 167. 5P 164. 6p 161.3

132.0146.7152.8190.6146.4125.5

428.4118.0119.2119.5123.0118.8104.9143.3129.4111.9

136.4150.3138.3198.7151.1126.9

467.4121.8124.3122.9133.2122.1106.3145.8135.3115.0

140.0155.8163.9206.5156.5126.5

504.7123.8126. 2125.2139.9124.2105.8141.4132.1117.1

143.4160.5187.6212.5158.7126.0

552. 2125.0128.4126.0142.8125.4107.7133.5133.6121.9

148.2166.2195.0225.5166.4125.9

600.2127.4132.5128.2146.7128.5110.4131.8137.6128.9

152.7170.3193.3231.6173.3127.8

618.2130.9137.4132.0153.4132.0111.9134.6143.5134.1

158.4175. 5193.3234.1180.0129.2

663.4136.4143.5143.7162.0135.1113.2143.6147.3138.7

161.9179.2190.8243.9187.5127.2

693.9139.5146.9147.8163.6134.4113.414P.7151. 5145. 4

163.0180.8190.0250.3191.4125. 5

709.1140.6147.4150.9158.9137.8115.5149.6154.1147.3

165.6183. 4193.6255. 5195.0125.7

732.5141.3150.1155.6156.8140.0115.0155. 4156.2155.6

167.0186.6202.5264.2199.1127.5

742.8141.5149.9157.7157. 9141.1114.5154.3155.8152.8

' 170. 4r 190. 2' 217. 9'270.0' 202.9p 130.1T 756. 2r 140. 6' 153.1v 159.9' ieo.o' 145.9'113.0

161.2'162.0p 157. 3

COMMODITY PRICES

COST OF LIVINGNational Industrial Conference Board:

Combined indexf 1923=100-Clothing do . . .Foodf do . . .Fuel and light.. do . . .Eousing do . . .Sundries do . . .

U. S. Department of Labor:Combined index* ....1935-39=100.

Clothing* do . . .Foodf do . . .Fuel, electricity, and ice*. do.._Bousefurnishings* do.-_Rent* do . . .Miscellaneous* _ do . . .

PRICES RECEIVED RY FARMERS§(J. S. Department of Agriculture:

Combined index..., 1609-14=100..Chickens and eggs __-doCotton and cottonseed doDairy products doFruits do. . . .Grains doMeat animalsf -doTruck crops. doMiscellaneous do

RETAIL PRICESU. S. Department of Labor indexes:

Anthracite 1923-25=100.Bituminous coal (35 cities) doFood (see under cost of living above).

Fairchild's index:Combined index... .Dec. 31, 1930«=100.

Apparel:Infants'. doMen's doWomen's do

Home furnishings doPiece goods , do

WHOLESALE PRICES

U. S. Department of Labor indexes:Combined index (889quotations*). 1926=100..

Economic classes:Manufactured products doRaw materials doSemimanufactured articles .do

Farm products doGrains doLivestock and poultry do

Commodities other than farm products*1926=100..

Foods doCereal products* ._.doDairy products . . .doFruits and vegetables doMeats do

Commodities other than farm products andfoods 1926=100..

Building materials doBrick and tile .doCementt doLumberf doPaint and paint materials* do

r Revised, v Preliminary.

97.388.199.590.491.0104.1

116.4125. 3123.2105.0122.3108.5110.9

151137153141148116191169134

88.8

113.1

108.0105.1112.9115.6112. 2

99.892.8

104. 488.8

116.9

P97.199.387.292.0

105.4113.9

P 9 5 . 6110.198.194.2

131.7100.3

88.573.685.586.788.298.6

104.6103.3105.9101.4105.3105.8103.3

1181181071269796142126

82.490.5

97.7

98.190.195.3

100.491.3

87.1

83.687.682.175.993.0

88.083.179.884.373.090.8

88.6101.092.591.9

117.690.3

88.973.886.287.888.498.7

105.3104.8106.7102.3107.4106.1103.7

1251271211329398

151••120

107

84.692.0

99.6

98.791.596.9

102.493.3

88.8

90.186.187.985.876.398.9

89.384.780.387.769.493.8

89.7103.194.292.1

122.391.6

89.474.587.388.688.698.8

106.2106.9108.0103.2108.9106.3104.0

13113012813510099

155133128

86.693.8

102.6

100.093.3

100.4104.997.1

90.3

91.587.689.587.479.699.0

90.787.281.590.370.397.5

90.8105.595.192.1

127.593.3

90.876.989.489.488.999.8

108.1110.8110.7103.7112.0106.8105.0

13914115014089

106163145131

88.394.9

105.2

101.295.5

104.1106.999.9

91.8

92.890.090.391.085.3

101.1

91.989.585.893.370.799.4

91.6106.495.792.2

129.194.7

j

92.078.390.790.089.2

101.5

109.3112.6111.6104.0114.4107.5106.9

139146144145107101154164144

88.795.8

106.2

102.196.5

105.7108.5101.6

92.4

93.989.789.990.081.494.5

92.888.986.495.275.893.6

93.4107.396.692.7

129.596.0

92.979.692.290.289.5

101.9

110.2113.8113.1104.0115.6107.8107.4

13515713614898103149158128

88.496.3

107.5

103.297.5

106.9109.5103.7

92.5

93.890.289.790.684.390.6

92.789.385.996.377.990.8

93.5107.596.693.1

128.795.3

93 2so!i92.690.389.9

102.2110.5114.8113.1104.1116.8108.2107.7

14315313814898112157162154

88.596.5

108.3

103.798.1

107.7110.2105.0

93.6

94.692.390.194.791.097.4

90.589.395.573.895.3

93.7107.896.793.4

129.496.5

94.582.495.290.390.1

102.5

112.0116.1116.2104.3117.2108.4108.5

149147143148102119164204169

96.7

110.2

104.9101.1109.1112. 7107.1

96.0

96.496.191.7

100.895.9

105.7

93.791.196.078.3

101.6

94.6109.396.993.4

131.699.1

95.184.595.790.490.4

102.9

112.9119.0116.8104.4119.7108.6109. 4

14513515014798121173161133

111.9

106.7102.7111.2114.3110.8

96.7

97.097.092.0

101.395.3

109.3

95.594.691.195.085.2

104.0

110.197.093.4

132.799.9

96.185.897.590.490.7

103.5

114.3123.6118.6104.5121.2108.9110.1

146130151144111122180136132

88.996.7

112. 5

107.5104.2112.1115.1111.8

97.6

97.898.292.3

102.893.8

113.8

96.2*96.190.694.387.7

109.2

95.2110.597.193.6

133.1100.8

97.188.498.890.191.0

104.1

115.1'126.5

119.6' 104. 3'121.9' 109. 2

110.6

150131158142118120190158136

87.595.9

113.4

108.6105.6113.2115.8112.6

100.092.8

104. 591.5

118.3

97.298.790.294.197.7

112.8

95. 6110.298.094.1 j

131.8 I100.6 i

97.388.699.190. 591.1104.2

116.0' 126. 2121.6:

'•104.il' 122. 2' 109. 9' 110.9

152134159143131120189152138

88.996.1

113.2

108.3105.2113.0115.7112.2

r 98.8

99.792.9

104.492.2

117.6

98.989.093.596.7

114.8

* 95. 7110.198.094.2

131.5ioo. e

y; truck crops, 200;

iliminary. •Number of quotations increased to 889 in January 1941. JFor monthly data beginning 1933, see p. 18 of the April 1940 Survey§Data for July 15, 1942: Total, 154; chickens and eggs, 145; cotton and cottonseed, 155; dairy products, 144; fruits, 131; grains, 115; meat animals 192* trucl

miscellaneous, 139. ' 'fRevised series.

tables 5 and 7, ithe Departmen _ ._ . .revised indexes for meat animals will be shown in a subsequent issue.

•New aeries. For description of data on manufacturers' inventories, see pp. 7-13 of the September 1940 Survey, and for revised figures beginning December 1938 see table40, p. 22 of the January 1942 Survey. For data beginning 1913 for the Department of Labor's cost of living series, see table 19, p. 18 of the May 1941 Survey for index ofprices of commodities other than farm products beginning 1913, see table 36, p. 18 of the September 1940 Survey. Data beginning 1926 for cereal products and 1913 for Daintand paint materials will be published in a subsequent issue.Digitized for FRASER



Monthly statistics through December 1939, to- | 1942gether with explanatory notes and references jto the sources of the data, may be found in the T1940 Supplement to the Survey

1941


Octo-ber

Novem-ber

Decem-ber

1942

Janu-ary


COMMODITY PRICES—Continued

WHOLESALE PRICES—Continued

U. S. Department of Labor Indexes—Con.Commodities other than farm products and

foods— ContinuedChemicals and allied products! . . 1926= 100

Chemicals! doDrugs and pharmaceuticalst doFertilizer materials! doOils and fats* _ -

Fuel and lighting materialsEleefricitvGasPetroleum products

Hides and leather products..Hides and skinsLeather- r -Shoes

House-furnishing goodsFurnishings _ .Furniture

Metals and metal products. .Iron and steelMetals, nonfcrrous

_ . .do . . .dodododo

. . . . .do . . . .dodo. . . .dododo. . . .do

. . . . ..do . .dodo .

Plumbing and heating equipment,-doTextile products do

ClothingCotton goodsHosiery and underwearftayon*Silk*Woolen and worsted goods.

MiscellaneousAutomobile tires and tubesPaper and pulp

do.__.dodo.—do

. . . dododod o -do

Wholesale prices, actual. (See under respectivecommodities.)

PURCHASING POWER OF THEDOLLAR

Wholesale prices 1023-25 = 100Retail food prices! -Prices received by farmers•Cost of living! -

do. . . .dodo —

97.296 5

129.178.4

108.578.4

59.8118.2118.5101.3126.4102.9108.197.4

v 103.997.285.698.597.6

109.1112.770.030.30)111.090.273.0

101. 6

102. 1102.797.4

104.5

j

83.8 !87.2 :

99.969.980.677.967.281.059.9

107.8112.497.9

111.793.199.087.098.396.584.583.184.591.694.661.929.551.294.680.658.898.0

115.6119.5124.5114.9

ji

85.287.3

100.0 !74.083.7 i78.5 (

66 8 i80.8 |60.9 j

109.4112.5 i98.1 !

114.794.499.788.998.596.884.783.286.293.996.162.929.551.4 I96.5 !82.0 i58.8 !98.8 |

113.4 I118.6 •117.6 !114.4 i

86.087.5

100.175.387.379.066.478.361.4

110.2112.298.5

116.195.4

100.789.998.696.984.486.888.395.1

101. 563.829.552.098.283.760.8

100.7

111.5117. 1112.2113.8

87.488.2

104.4 !76.691.379.266.7 !81.7 i61.7 !

111.3112.1

1 100.01 117.1I 97.21 102.1i 92.2! 98.6

96. 984. 4

• 87.1 ;89.7

i 96.1104.2 !

! 64.4 ii 29.8

0) !1 101.4 1! 85. 11 60.8 i: 101.7 ;i i

109.7 ij 114.3 ;i 105.7! 112.0 .

89.788.4

i24.i :77.3 :93.479.666 278.9 !61.7 i

112.6113.1100.9118.899.5 i

104.4 :

94.4 :103.197.084.687.890.997.8

105. 266.6 \30.3 !

0) i102.3 !86.4 i65.5 i

101.9 !

109.0113.4105.7 i110.5

89.888.3

123.2 !77.3 !92.978.8 !

68.277.560.4

114.1114.0 •101.1120. 5100.6 :105.295.8 •

103.3 i97. 184.887.991.197.9

105.467.030.3 j

0) i102.6 :87.367.4 :

102.2 ;

108.9 i111.9 i108.9 !109.5 !

91.388.6

123. 077.8

101.978.467.477.459.8

114.8115.9101.3120.7101. 1105.696.6

103.397.084.889.191.898.4

107. 567.030.3

0)102.787.667.4

102. 5

107.6111.9102.8109.2

i

96.095.3

126.378.6

106. 478.267 676.459.5

114.9115.3101. 4121.1102.4107. 2

I 97.4i 103.5

97. 085.4

i 93.693.6

101.1110. 5

1 69.0| 30.3; 0)I 103.0

89.3i 71.0; 102.8

104.9! 108.91 98.6i 107.6

97.096 3

126. 579.3

108.278.067.677.058.9

115.3115.5101.4121.8102. 5107. 497.4

103.697.085.697.995.2

105.3111.469.630.3

0)104.389.371.0

102.9

104.1108.3101.4107.0

97.196 4

126.579.5

108.877.765 377.158.3

116.7116.6101.5124.3102.6107.797.4

103.897.185.698.296.6

106.6112.669.830.30)

108.789.771.0

102.9

103.2106.6100.7105.8

97.196 4

126.779.2

108.877. 764 478.158.4

119.2123. 5101.3126.7102.8108.097.5

103.897.185.698.597.7

107. 8113.870.630.30)111.090.372.5

102.9

102.0105.898.0

104.7

97.396 5

129. 179.0

108. t>78.0

79 959.1

118.8121.4101.3126.fi102.9108.197.5

v 103.997.285.698.598.0

109.6112.971.930.3

0)111.090.573.0

102.8

101.9104. 196.7

104. 5

CONSTRUCTION AND REATJ ESTATE

CONTRACT AWARDS, PERMITS, ANDDWELLING UNITS PROVIDED

Value of contracts awarded (F. R. indexes):Total, unadjusted 1923-25=100.

Residential, unadjusted do_.Total, adjusted do..

Residential adjusted do | * 88F. W. Dodge Corporation (37 States): j

Total projects number.. 51,863rl otal valuation thous. of doL. jl ,190,264

Public ownership do 1,105,414Private ownership do 84,850

Nonresidential buildings:Projects _ number. J 14,372Floor area thous. of sq. ft-. 134,085Valuation - thous. of doL- 568,385

Residential buildings, all types:Projects number.. 33, C02Floor area . thous. of sq. ft. 50,673Valuation thous. of doL. 185,471

Public works: iProjects number.- j 2, 739Valuation - thous. of dol_.i 203,341

Utilities: IProjects number-. | 1,750Valuation thous. of doL_j 233,067

New dwelling units provided and permit val- jnation of building construction (based on jbldg. permits), U.S. Dept. of Labor indexes:! j

Number of new dwelling units provided1935-39=100..: 102.7

Permit valuation: ITotal building construction do j 58.7

New residential buildings.- . . . do . . . : 74.3New nonresidential buildings do | 37.6Additions, alterations, and repairs.-do ! 72. 8

Estimated number of new dwelling units pro- jvided in all urban areas (TJ. S. Dept. of !Labor):! ;

Total -. number..1-family dwellings do j2-family dwellings do jMultifamily dwellings do '•

Engineering construction:Contract awards (E. N. R.) § thous. of dol..l 968,938

135 I 153111 ! 118117 I 139101 115

46,950 : 49,637539,306 577,392313,650 348,495225,456 228,897

6,262 I 8,33931,898 | 38,242200,456 j 220,612

I38,527 ; 39,42952,098 52,895205,634 205,049

159111 ;152 i112

162 !105 i161105

137 12284 71145 13887 74

1,70199. 631

460 !33,385 |

1,487101,074

38250, 657

283.5 I 264.2

195.8247.7162.3140.5

178.5236.4135.9131.9

50,551 41,497 i 40,920 ; 29,150760,233 i 623,292 1 606,349 j 458,620520,430 403,495 \ 371,345 297,865239,803 j 219,797 j 235,004 i 160,755

' i10,766 I 7,822 \ 9,90763,802 j 46,810 i 54,417286,741 218,288 j 269,553

4,97831,023192,936

37,234 j 31,791 I 29,246 i 22,63362,773 | 43,624 ! 45,403 j 30,170231,529 i 175,713 I 171,772 i 116,468

1,871 • 1,419134,054 | 131,123

680 j 465107,909 i 98,168

253.1

161.5233.2100.0125.8

244.5 i

156.0 I219.8104.1 |112.6

I

47,99438,587

2,6816, 726

45,02536,072

2,4216, 532

41.02234,6672,3634,592

40,38934,3952,8883,106

1,26694,563

50170, 461

198.8 :

136.6 I180.389.7

130.9

33,64628, 3542,3102,982

1,08688,436

45360,780

171.5

103.9147.266.083.6

27,86820,8331.5505,485

98 :5912369 !

22,941 j431,626287,722143,904 |

3,619 I24,908 1171,016 !

18.344 !25,591 !104,276 I

715 !105,989 ;

263 !50.345 j

120.7 I

104.4 I114.193.181.6

19,33815,4331,3532, 552

589,221 i 958,663 j 529,561 I 514,251 ! 406,332 j 348,800 269,689

68118

23,862316,846198, 251118,595 I

3,245 !21,113 i123,231 I

19,83826, 864102,758

567 i64,428 !

212 '26, 429

121.5

85.799.665.688.5

21,10315,8501,5333,720

628, 780

128100

40, 000433, 557310, 249123, 308

4, 60031, 576169.606

i

34,492 !41,836 I168,014 |

681 I58,535 I

227 !37, 402

223.5

129. 9168.0104.274.8

36, 83823, 4022,64510, 791

1259912595

55, 843610,799472,817137 982

5,98242,456231,834

47, 73150,770219,276

1,72592,148

40567, 541

186.0

103.4145.568.695.8

32,12625,4502,3114,365

14596128 I82

33,167498, 742354,575144,167

5,20851,281

234, 939

26, 68338, 341162,097

94558, 477

33143, 229

220.5

90.8161.043.193.4

r 192'90' 158'76

40, 557673, 517568,988104,529

8,33267,961297, 885

28, 02438,147147,964

3,480127,107

721100, 561

1G8.8

81.2117.251.3

634,823 ! 729,485 898,696 11,044,572

' Revised. v Preliminary. § Data for July and October 1941 and January and April 1942 are for 5 weeks; other months, 4 weeks. » No quotation.•New series. For indexes of rayon and silk prices beginning 1926, see table 29, p. 18 of the May 1940 Survey. Data beginning 1926 for price index for oils and fats will

appear in a subsequent issue.!Revised series. Data for chemicals and allied products and subgroups revised beginning 1926; see table 32, p. 18 of the August 1940 Survey. Indicated series on "pur-

chasing power of the dollar" revised beginning January 1935; see table 4, p. 18 of the January 1941 Survey. Revised data beginning September 1929 for indexes of new dwellingunits provided and permit valuation of building construction are shown in table 7, p. 17 of the March 1942 Survey. Revised data on number of dwelling units provided for1939 are shown on table 18, p. 17 of the May 1941 Survey. Estimates beginning January 1940 cover urban areas as defined by results of the 1940 Census; a few revisions indata for 1940 as shown on p. 22 of the June 1941 Survey, are available on request.




1942

June

1941


Octo- I Novem-ber ber

Decem-ber

1942

Janu-ary

Febru-ary March April May

CONSTRUCTION AND REAL ESTATE—Continued

HIGHWAY CONSTRUCTION

Concrete pavement contract awards:Totalf thous. sq. yd.

Airports* doRoads doStreets and alleys do

Status of highway and grade crossing projectsadministered by Public Roads Admn.:

Highways:Approved for construction:

Mileage no. of miles..Federal funds thous. of doL.

Under constructior-Mileage no. of miles..Federal funds thous. of doL.Estimated cost do . - .

Grade crossings:Approved for construction:

Federal funds doEstimated cost do

Under construction:Federal funds doEstimated cost do

CONSTRUCTION COST INDEXES

Aberthaw (industrial building) 1914 = 100..American Appraisal Co.:f

Average, 30 cities 1913=100..Atlanta do.New York do.San Francisco do.St. Louis . do.

Associated General Contractors (all types)1913=100..

E. H. Boeckh and Associates, Jnc.:§Apartments, hotels, and office buildings:

Brick and concrete:Atlanta U. S. av., 1926-29=100..New York doSan Francisco.. doSt. Louis do

Commercial and factory buildings:Brick and concrete:

Atlanta.. doNew York doSan Francisco doSt. Louis do

Brick and steel:Atlanta _doNew York doSan Francisco doSt. Louis do

Residences:Brick:

Atlanta doMew York doSan Francisco ..doSt. Louis do

Frame:Atlanta doNew York doSan Francisco doSt. Louis do

Engineering News Record (all types)§1913 = 100..

Federal Home Loan Bank Board:fStandard 6-room frame house:

Combined index 1935-1939= 100..Materials . d oLabor do

REAL ESTATE

Fed. Hous. Admn.. home mortgage insurance: 1Gross mortgages accepted for insurance

thous. of dol._Premium-paying mortgages (cumulative)

thous. of dol_._Estimated new mortgage loans by all savings

and loan associations, total, thous. of dol._Classified according to purpose:

Mortgage loans on homes:Construction doHome purchase doRefinancing doRepairs and reconditioning ..do

Loans for all other purposes doClassified according to type of association:

Federal _ thous. of dol...State members.. .do.Nonmembers .do

15, 26611,0382,0602,167

1,65432, 808

6,071122, 402217, 260

7, 0887,823

33, 41335, 409

242242250228238

207.8

105. 6138.2126.6129.6

106.0139.6127.2132.6

106.5137.4130.4129.4

103.8139.7124.8126. 9

103.3141.4120.2124.8

277. 7

123. 5121.3127.8

98, 800

4,071,838

94,095

15,93052,11215,1843,5667,303

35, 27944, 26514, 551

3,1123,8781,786

4,118

8,921139, 401270, 967

20,45921, 255

37, 71439.452

207

215214231197219

99.2134.9119.3120.3

101. 3136.9122.7120.8

100.3134.3121.9121.5

94.6133.6115.0116.8

92.1134.2110.4115.5

258.2

112.4109.2118.6

122, 963

1,108,723

133, 640

44, 20755,99317,8915,6339,916

57,54254, 85721, 241

17,1249,5944, 8252,7C6

3,87947, 264

9,054141, 569276,100

17,79818, 765

39, 54840, 939

219216233203223

197. 5

99.6135. 3120.8120.7

101.6137.1123.8121.1

100.9134.8127.3122.0

97.0135.9117.3118.3

95.2137.1113.3117.3

260.4

113.6110. 7119.3

114,247

3,190,690

132, 972

44,91855, 68216,8166.0229,534

56, 56455, 67620,732

9,5673,6063,9102,051

3, 55744, 693

8,840138, 675272,079

14,66615, 820

42, 77844, 249

221218234204223

197.8

100. 5136.1121.5121.3

102.2137.7124.3121.5

101.8135.5128.0122.6

99.3137.5118.9120.0

98.1139.1115.3119.5

263.1

115.1112.6120.0

107,137

3,261,476

129, 727

42,98755,97315, 7855,5719,411

57, 59254, 54217,593

6,0721,6242,6351,814

6,9752,8852,4601,630

2, 899 I 2, 74938, 404 38,850

8, 615136,512268, 926

12, 42313, 553

42, 32843, 771

211

221218235205223

200.3

100.7136. 3122.8121.5

102.4137.9124.7121.7

102.0135.7128.7122. 8

99.5137.7120. 4120.3

98.3139.3117.6119.9

264.5

116.5114.4120.7

104, 937

3,335,703

129,934

40,78258,05215.8715,8849,345

54, 78654,30320,845

8,176131,914260, 555

11,85113,122

41, 52042, 920

223219235209224

201.9

100.7136.3122.5121.5

102.4137.9124.6121.7

102.1135.8128.4122.8

100.0138.0119.0120.3

139.7115.8119.9

266.1

118.5116.0123.3

94, 948

3,423,183

127,938

37, 72259,87416,2835,361

52, 50754,93020, 501

4,344535

2,5701,239

2,63539, 259

7,809128, 351253, 703

10,20811,588

40,46441, 932

223219235210224

203.3

100.7136.3123.5122.6

102.4137.9126.2123.4

102.1135.8128.8123.2

100.0138.0119.5120.8

139.7117.4120.3

266.2

119.2116.9123.9

70, 799

1,503.681

104,749

30,10348, 81613, 3404,2678,223

41,91046,89015,949

8,1762,9643,1972,015

2,25934,014

7,417121,384239, 336

10, 00511,810

37, 74239, 323

215

225222238212226

100.2136. 0123.2122.5

102.1137.7126.0123.4

101.3135.3128.3123.1

97.1136.1117.6120.4

95.1137.2114.9119.8

267.6

119.9117.7124.2

75, 435

3,596,491

100, 208

30, 29043,14514,4244,1708,179

41,18243, 96015,066

4,7262,4901,1391,098

3,4641,4511,110903

I

1,96730, 789

7,044117, 669228, 623

8, 5429,314

35, 92838, 300

229224240215230

203.3

101.4137.0124.2123.8

102.9138.4125.3124.4

102.5. 136. 2

127.1124.1

137.9120.0121.4

98.5139.4117.7120.8

269.4

120.6118.6124.5

66, 952

3,690,214

79, 533

22,79134,12712, 8543,1906,571

31,14235, 31213,079

1,79628,344

6,802119, 233225, 527

8,0478,761

34,75437,140

231225241215230

204.0

101.4137.0124.2123.9

102.9138.4125.3124.5

102.5136.2127.1124.3

137.9120.0122.1

98.5139.4117.7121.7

269.7

121.2119.3125.0

104, 566

,769,496

76, 756

20, 79933, 76912, 3253.1386,725

31,91933,93910,898

7,0913,9721,7271,392

1,56224,612

6,778123, 405226, 543

7,4908,210

34, 57636, 913

218

237232247221236

206.5

101.9137.5125.6124.4

103. 2138.8126.6124.9

102.8136.8128.5124.7

100.3138. 3121.9122. 5

139.8118.9122.1

271.8

122.0120.0126.0

141,443

1,849,549

87,367

21,77540,93013,2253,5477,890

36,32538,03013,012

8,9145,4162,0611,437

1, 43124,055

6,817127,195231, 620

8,503

34, 46736, 814

238232248221237

207.3

105.4137.7125.7124. 4

105.7139. 0126.7124.9

106.4137.1128.6124.8

103.7139.3122.3122. 8

103.2141.1119.5122.5

272.3

122.3120.5125.9

.9, 225

3,916,421

99,047

20, 48852,19614, 5084,0837,772

38, 48443, 93716, 626

14, 4629,8003,2671,394

1,45527, 968

6,672127,511228, 535

8, 2018,893

33, 65835, 838

241233250224238

207.3

105.6138. 2126.6124.8

106.0139.6127.2125.3

106.5137.4130.4125.3

103.8139.7124.8123.5

103.3141.4120.2122.9

274.2

122.8121.0126.4

53, 488

3,990,152

95, 009

17, 61053,09513, 6073,8666,831

36, 96643, 00515,038

§Beginning with the September 1940 issue of the Survey, indexes computed as of the first of the month are shown as of the end of the preceding month. The EngineeringNews Record index is similarly shown in the 1940 Supplement as of the end of the preceding month.

^Figures include mortgages insured under the defense housing insurance fund beginning April 1941 for gross mortgages accepted for insurance and beginning June 1941 forpremium-paying mortgages.

•New series. Earlier data for concrete pavement contract awards for airports and for the total revised to include airports, not shown in the Survey beginning with theMarch 1941 issue, will appear in a subsequent issue.

fRevised series. Revised indexes of the American Appraisal Company beginning 1913 are available in table 44, p. 13 of the November 1940 Survey. For revision in totalconcrete awards, see note marked with an " V Data beginning 1936 for the Federal Home Loan Bank Board's revised index of construction costs are shown on p. 26 of theOctober 1941 Survey.


S-6 SUEVEY OF CURRENT BUSINESS August 1942


1943

June

1941


Octo-ber

Novem-ber

Decem-ber

1942

Janu-ary

Febru-ary March April M a y

CONSTRUCTION AND REAL. ESTATE—Continued

REAL ESTATE-Continued

Loans outstanding of agencies under the Fed-eral Home Loan Bank Board:

Federal Savings and Loan Ass'ns, estimatedmortgages outstanding ...thous. of doL.

Fed. Home Loan Bks., outstanding advancesto member institutions thous. of dol_-

Home Owners' Loan Corporation, balance ofloans outstanding... thous. of dol_._

Foreclosures, nonfarmrtIndex, adjusted 1935-39=100.__

Fire losses .-- - thous. of doL.

1,849,400

192, 645

1,675,888

28.022, 410

'1,687,087

169,897

1,870,305

36.724, 943

1,717,451

168,145

1,854,824

37.323, 698

'1,750,843

172, 628

1,840,686

33.524,122

1,775,117

178,191

1,824,672

32.924, 668

1,801,033 '1,815,066

184,311

1,809,074

34.230,833

187,084

1,794,111

31.923, 822

1,824,646

219, 446

1,777,110

32.431, 261

1,834,376

206, 068

1,758,213

32.135, 655

1,829,218

197, 432

1,742,116

30.930,819

1,832,341

191, 505

1,724,229

29.530, 505

1,842,422

185, 298

1,709,064

29.127,960

1,846,790

181,165

1,692,197

27.223, 233

DOMESTIC TRADE

ADVERTISING

Printers' Ink indexes, adjusted:!Combined index.... 1928-32=100..

Farm papers doMagazines. doNewspapers doOutdoor -do

Radio advertising:Cost of facilities, total thous. of dol.-

Automobiles and accessories .doClothing doElectrical household equipment^ doFinancial doFoods, food beverages, confections doHouse furnishings,'etc.t doSoap, cleansers, etc ...doSmoking materials doToilet goods, medical supplies. -doAllothert do

Magazine advertising:Cost, total ---do

Automobiles and accessories doClothing do.. .Electric household equipment doFinancial .._do...Foods, food beverages, confections do_._House furnishings, etc do.. .Soap, cleansers, etc do.. .Office furnishings and supplies do_-.Smoking materials do.. .Toilet goods, medical supplies do.. .Allother... -do...

Linage, total thous. of lines.Newspaper advertising:

Linage, total (52 cities) - d e -classified do.. .Display, total.. - . ._ .do.. .

Automotive doFinancial do...General do.-.Retail.. do...

GOODS IN WAREHOUSES

Space occupied in public-merchandise ware-houses.. percent of total.

NEW INCORPORATIONS

Business incorporations (4 States) number.

POSTAL BUSINESS

Air mail: Pound-mile performance.-.millions..Money orders:

Domestic, issued (50 cities):Number thousand s.Value thous. of dol_.

Domestic, paid (50 cities):Number thousands-Value thous. of dol.

Receipts, postal:50 selected cities- do._.50 industrial cities do

RETAIL TRADE

All letail stores, total sales * mil. of dol.Durable goods stores * d o . . .Nondurable goods stores * d o . . .

By kinds of business: *Apparel . . . d o . . .Automotive d o . . .Building materials and hardware d o . . .Drug do. ._Eating and drinking d o . . .Food s tores . . d o . . .Filling stations d o —General merchandise d o —House furnishings doOther retail stores . do

51.777. 6

13,9311,188

735213304

2,043536477172732

2,9284,6031,769

97, 66320, 60877,0552,5411,370

14,84158, 303

6,31273, 783

16,865162, 616

(00)

4,446840

3,605

35426335:182438

1, 24827964917C506

87.864.582.180.784.5

8,429663385599

2,53120

9571,2842.449

332

15,4272,267

803612380

2,292893397198863

2,4564,2671,890

108,43224, 29484,1384,9181,664

16, 36261,193

0.2

1,500

2,083

4,82147,001

14, 516116, 275

31,2023,824

4,6061,484

' 3,128

300891339149344997311601203

'470

88.656.991.678.592.5

8,235672314499

2,22016

1,0921,3152. 507

240

10,8231,416

222315277

2.109320275122763

2,0332,9721.716

22, 37866, 4513,1081,889

13,09448, 360

80.2

2,213

4,70247, 643

14,833122,895

30,6373,887

4,5091,3833,126

253804346155355

1,050342549197459

90.568.386.581.989.9

7,964637465576

2,13720

1,0091,3022,434250

11,2791,346675196278

2,110286331241606

2.0093,2022,066

95, 70723, 30672,4013,0341,33711,69256,338

1,343

2,255

4, 63647, 573

14,567122, 493

30,4423,712

4,6381,2583, r - -

334617353159383

1,063349661245473

90.761.885.081.4110.0

8,117630674363

2,22016

9991,2522,592234

14, 6431,2541,337276412

2,133829333359699

2,4354, 5762.514

107,16021, 74585,4152,9801,534

15, 34365,558

79.5

1,332

2,217

4,93250,413

14, 795128,836

33,0873,948

89.167.786.382.185.5

9,679771594439

2,73058

1,0601,3213,151446

17,8852,1181,389436376

2,8931,214455291782

2,9394,9942,534

123, 81522,010101,8055,6071, 55119,99374, 654

1,412

2,366

5,20753,186

17,084149,199

36,9484,424

4,480 4, 6751,062 1,1283, 418 | r 2, 546

393445360158383

1,052322706202458

387528366156393

1,125318724200

-•478

89.563.292.083.270.3

9,723834735551

2,75274991

1,2503,078566

18,2352,1451,029430482

3,010996503374870

3,0535, 3432,682

120, 62421,00899,6154,8411, 515

20,00273,258

1,229

2,231

4,93150,334

15,464134,759

33, 8053,821

4,5341,067

' 3,467

388518312159384

1,090289735194465

99.467.492.891.3112.3

10,412948614441

2,93658

1,1571,3513,218597

15,9281,116880476355

2,555756331329705

2,6795.7441,937

125,48420, 534104,9503,2911,70217,04782,910

82.8

1,414

2,675

5,82657, 537

17, 557149, 204

48,8026,161

5,4731,2374,236

557522331211409

1,218290

1,106261568

80.551.572.374.580.6

10, 285818874541

3,10266

1,1181, 3563,094728

10,486659383103318

1,937318242177733

1,8533,7631,940

89, 34119, 06470,2771,3202,20413, 07653,677

83.4

1,353

2,594

5,74358, 379

15,707135, 685

32, 5674,152

' 4,248'792

' 3, 456

376'320266163381

1,216'268613170'475

81.049.372.775.383.1

9,382713844541

2.84559998

1,2152,846536

13,044641660111357

2.648417515237673

2,6753, 9932,130

87,94418,19269, 7521,5601,33914,66252,191

83.9

1,172

2,553

5,31759, 823

14, 525138,264

30,5343,919

' 3, 760'693

' 3, 067

290'239249152363

1,090'240541171

'425

80.447.569.474.894.2

1,279

6,99787,793

19,134210, 702

34, 5034,398

' 4,410'803

' 3, 607

440'246316167411

1,180'270680203

'505

79.152.667.974. 7

10, 282645835654

3,11267

1,1251, 2983,122

551

15,811759

1,242237390

2,941798763243790

2,9224,7272,331

106,90821, 97584,932

1,9381,849

16, 26864, 878

9, 3725311154544

2,78552

1,0581,2932,843

605

14,8471,094

905244402

2,466815593206736

2,7714,6142,168

107,05521, 64985, 4062,4161,704

17, 82163, 464

85.2

1,194

5,67359,746

17,093164, 302

0)0)

' 4, 531'859

' 3, 672

406' 239373170422

1,220'273700206

' 520

78.053.867.972.878.0

9,1995691085652

2,54352

1,0051,3162,856643

15,4211,313968161403

2,352851640258809

2, 883' 4, 7822,064

107,04422, 32684,7182,3341,248

16, 52964, 608

83.7

1,094

5,41159, 542

15, 256137,629

0)0)

'4,499'858

> 3, 6^1

':363'i249'370I" 182'"443

d, 237'290'659'192'514

r Revised. §Include.s data for radio advertising not available separately since November 1940.fRevised series. Data beginning 1926 for the index of nonfarm foreclosures are shown on p. 26 of" the October 1941 Survey. Earlier revised

tions, electrical household equipment, household equipment, house furnishings, and "all other" will be shown in a subsequent issue.*New scries. For data beginning 1935 see table 15, pp. 24 and 25 of this issue.

* Discontinued,data for radio classifica*




1942

June

1941

June July August Sep- Oeto-tember i ber

Novem-ber

Decem-ber

1942

Janu-ary


DOMESTIC TRADE—Continued

RETAIL TEADE—Continued

All retail stores, indexes of sales:*Unadjusted, combined index...1935-39=100--

Durable goods stores doNondurable goods stores do

Adjusted, combined index doDurable goods stores doNondurable goods stores do

By kinds of business, adjusted:*Apparel - -doAutomotive doBuilding materials and hardware doDrug doEating and drinking doFood stores doFilling stations doGeneral merchandise. doHouse furnishings doOther retail stores do

Automobiles, value of new passenger-car sales:TUnadjusted 1935-39=100-.Adjusted do

Chain-store sales, indexes:Chain-store Age, combined index (20 chains)

average same month 1929-31 = 100.-Apparel chains __do

Drug chain-store sales:*Unadjusted. 1935-39=100..Adjusted .do

Grocery chain-store sales:!Unadjusted ..1935-39=100..Adjusted do

Variety-store sales, combined sales, 7 chains:!Unadjusted.. 1935-39=100..Adjusted do

Chain-store sales and stores operated:Variety chains:

S. S. Kresge Co.:Sales thous. of dolStores operated ._number- _

S. H . Kress & Co.:Sales thous. of doL.Stores operated number. .

McCrory Stores Corp.:Sales thous. of dol._Stores operated number. .

G. C. Murphy Co.:Sales . thous. of doL-Stores operated number. .

F . W. Woolworth Co.:Sales thous. of dol._Stores operated number, _

Other chains:W. T . Grant Co.:

Sales __.thous. of dol._Stores operated number. _

J. C. Penney Co.:Sales thous. of dol_.Stores operated number.

Department stores:Collections and accounts receivable:

Installment accounts:Index of receivables*.Dec. 31, 1939=100..Collection ratio _ .percent..

Open accounts:Index of reeeivables*-Dec. 31, 1939=100Collection ratio percent-.

Sales, total U. S., unadjusted...1923-25=100..Atlantat 1935-39=100..Boston 1923-25 = 100..Chicagof 1935-39=100-.Cleveland —1923-25=100. _Dallas doKansas City 1925=100..Minneapolis! 1935-39=100..New York 1923-25=100..Philadelphia! ._ .1935-39=100-Richmond* doSt. Louis 1923-25 = 100..San Francisco! 1935-39=100.-

Sales, total U. S., adjusted! 1923-25=100..Atlanta! 1935-39=100..Chicago!— doCleveland 1923-25=100..Dallas doMinneapolis!. 1935-39=100..New York 1923-25=100-Philadelphia! 1935-39=100..Richmond* doSt. Louis . . 1923-25=100..San Francisco! 1935-39=100..

Installment sales. New England dept. storespercent of total sales..

137.3105. 8147.5135. 4100.0146.9

142.762.1

152.5155.6174.1156. 3121.2127.3124.6154.3

171.0172.0

129. 0136. 0

173.6171.1

129.1136.2

14,536673

9,105246

4,833203

6,205207

33,0252,011

12, 222494

38,4571,609

146.0190. 3131.7139.0163.9130.9

125.7172.9152.7127.6136.7129.7135.5122.7149.9149.1

214182

133.0136.3

109.7116.1

142.6140.4

111.3116.8

12, 127672

7,724242

3,923200

4,931204

27,6532,018

9,537493

28,4031,593

102.617.7

79.446.2

10011482

r 121105110' 8 6114' 9 7

'117'127

92126104134

' 124107123115

'101'123

138100136

136.6172.1125.1144.7169. 5137.0

136.8173.4161.4132.3141.4130.2152.5130.8165.9153.6

169196

141.0159.0

109.9115.3

140.6143.4

111.9122.2

12,016672

7, 582242

3,948201

4,971204

28,3982,018

8,730493

26,1451,593

101.217.6

71.046.1

791026392859379938189

10982

120115148131117132131114135154119144

141.0155.6136.3150.5163.5146.3

165.6154.8164.9137.5146.6139.0144.1147.0181.2156.6

91104

151.0184. 0

113.9119.9

143.9149.9

113.1128.9

13, 366671

8,022242

4,320201

5,379204

30,7132,019

10,070493

32,4031,596

107.618.8

78.045.0

10614482

122120128106127100115140106154134163154145166145134155185141168

9.5 ! 11.8 17.4

140.9137.2142.1136.4137.8135.9

140.8116.3161.0134.0147.5132.3143.4131.0149.0145.4

5757

147.0164.0

113.5118.2

145.0147.9

120.4125.3

12,809671

8,483242

4,164201

4,870204

30,0972,018

10,063493

33,6481,598

110.518.9

90.645.1

125158100151130151114142125134154128156116146137124136124120125151120149

12.0

139.3137.7139.8132.3128.4133.6

123.3112.4155.3131.0145.6136.2144.7120.2135.2142.6

10093

146.0153.0

111.6110.0

153.4152.6

122.0123.9

14,102671

8,427242

4,422201

5,575204

32,6142,025

11,864493

38,7111,603

110.419.3

92.546.9

11213898

12310912710614011213616511914510512511710511311798

119134106138

10.8

145.8139.6147.8140.1134.1142.0

145.9116.4156.6139.2148.7143.4142.5132.9149.7148.8

114128

151.0162.0

116.9116.4

155.6155.6

130.7127.0

14,832674

8,458242

4,655201

5,608205

33, 7762,024

12,174494

40,4171,605

110.419.2

93.548.6

133169103146136150106123130168168133158116154133127134123109132160114151

8.9

166.0153.9169.9136.3135.4136.6

132.1119.2164.0135.8147.8140.8141.0123.5138.6141.7

104162

157.0178.0

164.9121.3

164.7159.9

249.6113.9

27, 515675

17,376242

9,398202

10,898207

62,4982,024

23, 518495

59, 5201,605

116.420.1

117.746.3

197245165213197222183198194238265190235111140126115128127107127142115138

6.3

' 127. 9'97.9

' 137. 6' 147. 8' 119. 6' 156. 9

176.9r 73.2178.1141.7152.8155.3

' 155. 4148.5168.2

' 171. 4

164.0188.0

120.7126.0

170.4175.7

97.0132.3

11,854673

7,274242

3,819202

4,804206

28, 3452,021

8,983496

30, 5891,606

108.820.2

100.350.3

10812399

121112122100122104115128110129138159154149161152132161182138167

10.5

' 125.4'94.2

' 135. 5' 141.8'113.5' 151. 0

157.960.4

179.8138.7156.9150.4

' 152. 9139.8167.0

' 168. 0

165. 0178.0

110.8118.5

170.0169.1

108.1136.1

11, 750671

7,203242

3,739203

4,469206

27, 4662,019

8,417496

25,4071,607

104.819.7

88.045.2

9912274

114103108859594

117114101132126141135130127134116157165117166

11.4

' 135. 0' 100. 0' 146. 3' 141. 2' 111.5' 150. 8

171.4'56.3174.7141.7157. 5150.9

' 138. 9138.4176.0

' 164. 7

169. 0208.0

124.4125.0

170.0168.3

116.1133.6

13.174671

8,503243

4,373203

5,091206

30, 2662,017

10, 470495

32, 3481,608

103.321.7

89.146.1

11815294

136126129110125106140161125148124152141139133124120149165130161

9.2

' 139.8' 108. 0' 150. 1' 139. 0' 107. 3' 149. 3

152. 5'56.5175.4146.5166.1153.1

' 134.3136.2149.8

' 160.1

164.0174.0

124.6128.9

175.2170.1

123.1127.1

14,437672

8,640244

4,788203

5,934207

33,1362,013

12,363494

36, 5311,609

99.621.4

90.6' 47.0

11514893

133128127111130106132155120148117153134121131129110147156120157

8.4

' 140.3' 109.9' 150.1' 137. 3' 100.8' 149. 1

' 146. 8' 56. 8

' 162. 0' 151.7' 172. 3' 155.8' 130. 4' 130. 7' 132. 5' 161.2

170.0181.0

' 129. 3r 133. 4

170.7168.2

' 130.2' 135. 1

14,219674

8,573244

4,749203

6,13ft207

32,6602,011

12,200493

37,1701, 609

91.822.0

83.750.4

10814289

124113

' 12610111199

'128147108142108144123105

r 126112103

'130147108147

r Revised. * Preliminary! Revised series. For data on value of new passenger-car sales beginning 1929; and an explanation of the revision; see pp. 18-20 of the August 1941 Survey; seasonal factors

have been revised beginning August 1941 to take into account resricted production. Compilation of this index has been suspended. Revised data on grocery chain-store salesindexes will appear in a subsequent issue. Revised indexes oi variety store sales beginning 1929 appear in table 30, p. 10 of the August 1940 Survey. Indexes of depart-ment-store sales in Atlanta, Minneapolis, and San Francisco districts revised beginning 1919, and Chicago and Philadelphia beginning 1923: for Atlanta, see table 53, p. 16,of the December 1940 Survey; for Minneapolis, table 20, p. 18 of the May 1941 Survey; for Philadelphia table 18, and San Francisco table 17 on p. 26 of this issue; revisedChicago data will appear in a subsquent issue. For revisions in adjusted index of United States department-store sales for 1935-39, see note marked with a " ! " on p. 25 of theJanuary 1941 Survey.

*New series. For earlier data beginning 1935 for indexes of sales of retail stores, see table 5, p. 24 of the October 1941 Survey. For data on drug-store sales beginning July1934, see table 1, p. 11 of the November 1940 Survey. Indexes of department store receivables beginning January 1940 are available on p. S-7 of the September 1941 Survey.Data beginning 1923 for the new indexes of department-stores sales for the Richmond district are shown in table 16, p. 25 of this issue.




1942

June

1941


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary


DOMESTIC TRADE—Continued

R E T A I L TRADE—Cont inued

Depar tmen t stores—Continued.Stocks, total U. S., end of mon th :

Unadjusted •_ 1923-25=100..Adjusted d o . _ . .

Other stores, installment accounts and collec-tions:*

Instal lment accounts outstanding, end of mo:Furn i tu re stores Dec. 31, 1939=100 -Household appliance stores doJewelry stores do

Ratio of collections to accounts at beginningof month :

Furni ture stores percent--Household appliance stores doJewelry stores do

Mail-order and store sales:Total sales, 2 companies thous. of do l . .

Montgomery Ward & Co doSears Roebuck & Co do

Rural sales of general merchandise:Total U. S.. unadjusted 1929-31=100 .

East d o . - . -South doMiddle West d o . . . .Far West do

Total U. S., adjusted do....East doSouth doMiddle West d o . . . .Far West do

117, 59748, 47669, 121

160. 3162.9179. 4144. 0203. 6176. 0177.4223.1152.5213. 7

108. 6116. 294.2

10.810.416.7

131,43952, 87278, 568

148.7103. 2

M66.6' 142. 5

143. 6163. 2177.7

r207. 2MfiO.P

150. 7

7382

108. 5118.293.3

11.010.216.3

121, 17548, 30572, 870

129.7 I151.1 ',134. 1 !120.9 |131.6 ;177.7 i212.2 !197.5163.9 !100.5

8487

112.5121. 794.2

11.7 |10.417.4 ;

145,519 i57,803 ,87,716 j

170. 7 !186.0 |183.9 :153.3 !

194. 7 :

208. 7 j233.325a. 0185.8211.4

95 ;92 |

111.2120.498.3

11.210.817.8

10897

110.0117. 195.7

11.811.217.7

11095 92

10811298.

954

110110122

019

11.510.8 j18.4 i

11.411.723. 2

104.9103. 3110.9

12 011.418. 9

145,495 164,394 152.308 j 204.339 j 111,48159, 780 68. 138 | 63, 345 j 85.269 j 41, 85485,714 I 96,256 j 88.963 | 119,069

183.8181.9239.8 I158.8221.2 !173.9185. 1 I217.2154.9189. 1

216.4 j221.8 !299.9 |187.7 !223.0166.6 ;172.3 !

202.4 J147 8 i185. 7 ;

243.2 j269.1330.3 I209.6235.7186.9208.8240.6159.9194.3

287.9320. 3341.1254.9319.9180.1192.4227. 1163. 4196.0

69, 627

151.5162 8173 ,B.136 6166 6199 0214.221:>. 3178. 5226 7

97102

101.8mo. 3'.02 4

11.411.417.5

99. 64037.9G961,671

151. 1101.0199.3129. 6135.9186.8196. 9218.5163.01S3. 6

122117

100.8 ! 99.795.8 i 90.897.6 ! 93.4

12.512.718.8

131,89455, 85676, 038

185.6204.9224.0165. 2194. 5211.4228. 2248. 1186.4236. 3

i2.612.519.1

133, 90557, 60476, 301

175.6183.3202.0155. 9200.1191.1192.4229.3169. 0224.0

' 129' 126

96.684.487.5

13.312.519.9

119, 11750, 76268, 356

164.8171.7118.0146. 6188.8179. 5186. 6221. 7154. 8210. 0

EMPLOYMENT CONDITIONS AND WAGES

E M P L O Y M E N T

Employment estimates, unadjusted (U. S. De-par tment of Labor):*

Civil nonagricultural employment , totalthousands . .

Employees in nonagricultural establish-ments, total t housands . .

Manufacturing _ .doMining doConstruction doTransportat ion and public utilities.do . . .Trade . do . . .Financial, service, and misc doGovernment do .

Mili tary and naval forces doEmployment estimates, adjusted (Fed. Res.):*

Civil nonagricultural employment , totalthousands

Employees in nonagricultural establish-ments, to ta l . t housands . .

Manufacturing _doM i n i n g . . . ....' ._ do ..Construction. d o . .Transportat ion and public utilities doTrade do. _.

Manufacturing, unadjusted (U. S. Depar tmentof Labor)t 1923-25=100..

Durable goodsf doIron and steel and their products, not in-

cluding machinery 1923-25=100. _Blast furnaces, steel works, and rolling

mills . 1923-25 = 100..Hardware doStructural and ornamental metal work

1923-25 = 100-.Tin cans and other t inware do

Lumber and allied products d o . . .Furni ture doLumber, sawmills do

Machinery, excl. t ransp. equipment , .doAgricultural implements (including trac-

tors) . . . . . . . 1923-25 = 100Electrical machinery, apparatus , and

supplies 1923-25 = 100Engines, turbines, water wheels, nnd

windmills 1923-25^ 100Foundry and machine-shop products.doMachine tools* .1 do . . .Radios and phonographs. do

Metals, nonferrous, and products d o . .Brass, bronze, and copper products .do . . !

Stone, clay, and glass products do . . . iBrick, tile, and terra cotta do jGlass . . . do j

Transportation equipmentf do !Aircraft* do_Automobiles . . ._do_.Shipbuilding* do. .

41, 415

41,174

35, 03113, 207

8651,8502, 3966, 586

138. 4155. 8

152.292. 4

118.3102. 173.594.865. 6

203. 5

166. 7

0)

0)165. 0(0189.0146.5(')93. 669. 5121.3267. 90)92.1

39,475

33,33212,154

8761,8163, 2396,8614. 2604.1261. 740

39,908 j 40,292 40,710 ; 40,783 ! 40,756

33.15312. 221

33,76512, 391

8881.8953,2906,8374,3004, 1641,857

34,14912, 595

9001,9213,3266,8974. 3004.2101.944

34,56712, 777

9061,9363,3677.0084,3254,2481.992

39.296 39.903 40.101 40.016

8891,6443,2206, 865

33, 76012.605

127.9135.1

136.1

144.0118.3

105. 5132.076.8

103.867. 1167. 7

I171.8 j

158.8 !

285. 5139. 1338. 5180 7141.9189.397.1 |74.7 |125.5 I177.8 j

6, 718. 1 j134.8 I337.9 I

9141,6683, 2646,944

130 6137.6

137.7

147.2103.8

107.4138.879.5 i

105. 670.0

172.3

171.4

163. 8

298.3142.6346.0188.7143. 1189.799.677.6

127.9179.0

'.231.3126.9375. 3

33. 95812.615

9231, 6663, 3027.027

133. 1138. 7

139. 9

149. 1113.2

110.0145.381.0108.470.7 :176.5 :

172 0 ;

167.4

314.7 s

145.6 i351. 5202.4145. 5192.9101.379.4130.0] 72. 0

', 897. 3110.9388.3

33,8731 1>. 548

9081,6833,3036,968

135.2142.1

140.5

148.9116.0

109. 5145. 080.4

107. f)70.4

178. 6

170.7

168. 7

34,640 j 31,61312, 805

9151,9603, 3657.0704, 2564, 2692, 014

34, 0 1912, 599

325. 0147.0356. 8212.5146.4193.5101. 879.1 i

130.3 I190.fi

8,515.7 I 9. 169.7121. 1 ; 128.9442.5 ! 494.6

8921,77'.'.3, 2926,989

135. 4144.0

147.9115.2

109. 3130.179.8107.469.5180.1

169.9

168.8

339 5 |147.8 !361.5 I217 9 ;147.4 !193.5 '102.0 j

132 4 '203 2 I

12. 763911

1,9613,3227,1464, 2294,2812,071

40, 603

34, 46012. 73.5

8921.9243, 3107, 013

134. 8144. 6

135. 8

147.8112. 9

107. 5135.077.9

108. 466. 4

181.4

167. 5

109. 2

352. 5148.8 j366.9 !217. 6 j146. 1 I

101.5 |76 2133 1 I210. 4 !, RV. 1129. 7533. 3

•11,080

34. 03712. 734

9081,8743.2967,5114, 2274,387()

10. 905

34. 70212. 789

8922. 1563, 3227 017

39, 877 | 39, 094 ! T 40, 391

131. 2144.2

148.6105.7

106.0134. 476.6

106.865. 3183. 4

167.2

0)150. 4

33,734 |12.606 i

876 '1.6603.252 '6.756 '4 179 I4.405 •

33, Sol12, 724

8601,6453, 2496.6864,1814. 506

40,90r, i 40.910

(0218.145.

9974

132.208.

H.6.i\ \

f,1

;209

9

34. 763 ,12,863 i

873 !2,064 j3,322 !6,907 !

j132.5 !143.3 |

I

\m 3 :148.7 I98.6 ;

105. 7136.7 i74. 1 i

101.9 i63.7 i185 0 ,

164. 1 I

C1) i

152 1 iiv) !20y. 4 !144.5

95.669.6127.821U.3('/100 2

34,76712. 826

8522.0913. 3136, 862

133.8145. 1

135. 9

149. 494.3

107.2130.974.3

102.464.0

189.7

166.2

(0

0)154. 80)

206.5145.9

93. 9"7. 6

12f>. 1T 216. 0

(088.80)

' 34, 248r 12, 844

8601,7383, 2776,7114,1954,623

40, 937

34, 79412,818

8512,0573, 3256,812

' 135.1r 147. 5

150.094.8

110.4115.974.1101.164.2193.9

169. 1

(0

0)157. 30)210.4147.4(094.368.3

126.1r 224. 80)86.20)

40. 874

34, 73112, 945

8611,9283, 3436,6794, 2664,709(a)

40, 972

34, 82912, 895

8792,0033,3586,690

136. 1r 149.9

135. 3

150. 992.3

114.0111.2

' 73.497.264.6

197.7

167. 4

0)160. 30)208. 9

r 144.3

95.4' 70.4

r 125. 6r 237.20)84.10)

r 41, 263

r 35,120' 13, 046

"860' 2, 077' 3, 385r 6, 667' 4, 309r 4, 776(a)

r41, 137

' 34, 994' 13, 035

r870' 1, 961r 3, 391r 6, 695

r 137.1r 152. 5

M34.8

r 151.5'89 .4

' 115. 6' 107.9

' 73.3r 96.2r 64. 8

<" 200. 5

r 166. 9

0)

'\62.8(0

r 196. 4r 144.5

0)' 9 4 . 3r 70.6

' 123. 6251.70)r87. 60)

r Revised. ° Not available for publication. P Prel iminary. ' Included in total and group indexes, but not available for publication separately.fRevised series. For revised indexes, beginning in 1937 for all industries and January 1938 or durable goods, see table 12, p . 18 of the March 1941 Survey. Index for

transportation equipment revised beginning January 1939; see table 57, p. 17 of the December 1940 Survey.*New series. Indexes of installment accounts and collection ratios for furniture, household appliance, and jewelry stores beginning January 1940 will be shown in a sub-

sequent issue. Da ta for mining, construction, transportation and public utilities, Government, and military and naval forces are correct as published in table 11, on pp . 17and 18 of the March 1941 Survey. Est imates of total civil nonagricultural employment, employees in nonagricultural establishments, manufacturing, and service industries(included in the miscellaneous group) have been revised beginning January 1929 and trade beginning January 1935, to adjust monthly estimates to the 1939 Census levels ofemployees in manufacturing concerns engaged in clerical, distribution, or construction activities, and retail trade employment, and to figures shown by the 1930 Census ofOccupations; the revised data will be published later. Adjusted estimates of employment beginning January 1929 will be shown in a subsequent issue. For indexes beginning1923 tor machine tools and shipbuilding, and index for 1931 through 1938 for aircraft, see tables 39 and 40, pp. 15 and 16 of the October 1940 Survey; fo.r aircraft indexes (revised)for 1939, see table 57, p. 17 of the December 1940 Survey.




1942

June

1941

Tiinft Tnlv Amrnst SeP" O c t ° - Novem- Decem-June July August t e m b e r b e r b e r b e r

1942

EMPLOYMENT CONDITIONS AND WAGES—Continued

April May

EMPLOYMENT—Continued

Mfg., unadj. (U. S. Dept. of Labor)—Cont.tNondurable goods! 1923-25=100-.

Chemical, petroleum, and coal products1923-25=100-.

Chemicals doPaints and varnishes. doPetroleum refining do jRayon and allied products do 1

Food and kindred products -do ;Baking do jSlaughtering and meat packing do. . . j

Leather and its manufactures do. . . ;Boots and shoes do. . . :

Paper and printing do.. . iPaper and pulp d o — j

Rubber products do. . . jRubber tires and inner tubes do !

Textiles and their products! do.- .JFabricsf do 1Wearing apparel do j

Tobacco manufactures do jManufacturing, adjusted (Fed. Res.)t do j

Durable goodst do jIron and steel and their products, not in- ;

eluding machinery 1923-25=100-.!Blast furnaces, steel works, and rolling j

mills 1923-25 = 100 jHardware do 1Structural and ornamental metal work

1923-25 = 100.-jTin cans and other tinware do \

Lumber and allied products doFurniture do jLumber, sawmills do !

Machinery, excl. transp. equipment-do 'Agricultural implements (including trac- I

tors) 1923-25 = 100. _ jElectrical machinery, apparatus, and sup- I

plies 1923-25=100 !Engines, turbines, water wheels, and !

windmills 1923-25=100 !Foundry and machine-shop products !

1923-25 = 100. |Machine tools* do jRadios and phonographs do j

Metals, nonferrous, and products do jBrass, bronze, and copper products.do j

Stone, clay, and glass products d o — iBrick, tile, and terra cotta do ;Glass do |

Transportation equipment! do 1Aircraft* d o . . . . iAutomobiles do !Shipbuilding* .do j

Nondurable goods! do jChemical, petroleum, and coal prod. .do ;

Chemicals do jPaints and varnishes do jPetroleum refining do ;Rayon and allied products do I

Food and kindred products do [Baking do iSlaughtering and meat packing d o , . , j

Leather and its manufactures do ;Boots and shoes do j

Paper and printing. do IPaper and pulp do j

Rubber products do jRubber tires and inner tubes do j

Textiles and their products! do |Fabrics! do jWearing apparel do j

Tobacco manufactures. . . ' doManufacturing, unadj., by States and cities:

State:Delaware 1923-25=100-.Illinois! 1935~39 = 100-_Iowa 1923-25=100-.Maryland 1929-31 = 100.-Massachusetts 1925-27=100..New Jersey 1923-25=100.-New Yorkf ..1935-39=100..Ohiof doPennsylvania.. 1923-25= 100..Wisconsin! 1925-27=100. _

City or industrial area:Baltimore 1929-31 = 100.-Chicago! 1935-39=100--Cleveland 1923-25=100.-Detroit doMilwaukee 1925-27=100..New York! .1935-39 = 100. _Philadelphia 1923-25=100..Pittsburgh doWilmington -do

121.9

156.3195.4131.2133.1314.5141.2153.4143.697.194.2117.4125.996.978.8109.0104.7113.863.7139.1154.5

135.1

15392

117100

72.59763

202. 6

165

C1)

0)165

193145.70)90.464120

264.50)

900)124.5160.2195127132324

143. 2153144

100.198

118.6126

97.879

112.4107.4118.563.9

151.4136.0158.5165.3101.5152.8139. 4

113.7133. 2

165.4136.1146.0127.1147.8116.5126.9120.1136.8

121.1

137.5172.2144.8125.2327.0135.2152.2120.398.194.9121.6124.6110.786.3112.6106.2121.965.5128.7134.0

136.0

14. |118 j

104 !129

75.910665

167.3 |

170 |

159 I

f275

139337184

144.1191

93.769124

174.26,522

132341

123.7141.5172140125337

137.3151121

101.098

122.9125

111.786

116.1109.0127.065.8

129.4133.1154. 9135.097.6

136.0129.2131.8

' 106. 8121.7

!132.9 |130.8 I128.5 !119.6 '131.3 i114.5 i109.1 !112.9 i117.1 !

123.9

140.0175.9145.5127.4324.4145.8150.2123.1101.098.1

123.0126.0111.487.4113.2107.0122.265.4133.3140.2

139.1

149105

105 !131 j78.9 I108 i68 !

173.0 !

175 \

164 |

143349191

147.8193

98.673131

196.17,160149387

126.3143.9173145127326

138.4149123 |

100.297 |

124.8126

113.0 !87 j

120.0 I111.1 i135.0 I65.7 !

134.7136.6156.6138.999.1138.4131.1134.6108. 7122.4

137.3 j135.8 I130.1 I96.0 I130.2 |114.6 I110.5 I115.6120.0 |

127.7

143.1180.1144.8127.9329.3159.3152.7122.4101.198.3

123.9127.8111.886.7

115.4106.9129.665.8

133. 3141.5

150 I116 j

107 j132 |

78.4 !107 |

68 i177.7 ;

182 ij

168 I

315

146 I366 !187

147.9195 I

98.4 {74

130 !193.1 j7,897 |

139 I398 |

125.5 !146.3 !

179 j148 I127328 !

140.9 |152 !124 j

97.9 i94 !

125.1 j128 ;

113.3 j87 '

117.1 !109.6 !128.8 I64.4 !

142.5 !140.3 I159.1 !142.8 I99.1 |

136.9 |138.0 ;136.6 !110.3 |124.7 !

141.7 I138.1 I132.7 !116.0 !135.4 i125.6 i111.8 I117.1 j120.9 i

128.7

147.6182.4143.9128.5327.0163.2153.5123.698.995.2

124.9128.4111.586.5

115.5106.3131.363.9132. 3141.3

127.3 - 125.4

149 i117 i

106 j132

77.3103 j68 j

177.8 i

181 |j

168 |323 i

1.7 I355 !183 I

144.8 !194 i

98.7 I74 ;130

195.2 i8,779 |

128 I440 i

123.8 I145.7 I180145127324

138.8151125

98.094

124.4128

111.687

114.7107.2126. 662.0

147.5 i139.7 !160.1 j144.3 I99.5 !

145.3 l

142.5 j138.6 !110.6 I126.4 I

143.7 i138.4 !134.1 j115.0136.9130.5114.3117.1122.4

149.9183.8143.9129.2325.0152.5154.5125.998. 594.7

126.5128.2111.686.0

114.9106.4129.0 j67.3 I

132.8 i142.3

140.2 139.7 | 138.2

148115

107127

76.410167

179.3

180

168

348148360179

143.1191

98.973131

204.59,459

129487

123.8147.1181144129323

140.7152126

99.696

124.9128

110.186

112.9105.4124.764.1

137.8 !139. 1 !161.5145.4 !100.2 i144.4 I142.5 '137.5 !110.9 '126.7 i

144.8 j139.4 i134.2117.3 i135.9 I130.1 !116.3 |118.0 !122.4 I

149.8185.3142.6129.1322.9145.9153.7129.996.792.3

126.7128.7111.286.1

113.4106.1124.968.4134.4143.7

138.3

148113

107138

76.910467

181.2

172

169

371149365194

142.2191

100.976133

208.99,799

127532

125.6148.2184144128320

147.0152127

104.2101

124.8129

110.186

113.3105.1126.965.0

136.1139.0 i161.7 I146.4 I100.1 !145.3 j141.1 !137.2 j111.0 j126. 5 j

|146.2 !140.2 I134.3 I119.0 !134.9 |126.3 !118.1 j118.4 I125.5 |

124.8 I

149.7185.4142.2129.2 !321.1141.0151.5138.199.295.2128.3129.1110.384.9113.0106.2123.2 I67.5134.9 S144.3 I

138.9 j

149 |114 |

107 !141 !

78.1 j105 |68 !

183.4

167

0)

0)150

(0206

143.40)101.6

77132

205. 40)111

0)126.0149.2187144129320

147.5152133

103.1100

125.9129

109.685

113.2104.4128.266.5

137.1139.1 i162.8147.0100.4145.7141.2136.9111.5126.6

146.9140.6130.397.4135.8126.7118.7119.3125.7

122.1

151.1185.9140.9129.1315. 9135.4149.5143.898.995.4

124.7129. 599. 675.2

111.1105.1119.763.4

135.7146.7

139.0

150110

108147

79.210670

187. 1

161

0)

0)153

0)220

146.80)105.0

81135

210.1Qfi

123.0

154.9188.7141. 0129.6312.6133.5150.0137.8100.296.6

123.3129.698.973.5

113.0104.9126.465. 5

135.1146. 8

' 136. 5

14994

112141

77.9104

68190.8

161

0)

0)155

(')235

' 146. 50)100.1

78126

' 214. 40)

»4

0)125.2

'151.8190145130313

148.4153139

98.895

125. 2130

99.875

112.0104.1125.169.2

137.8 I137.2 !158.2 !149.5 !99.2

145. 8138.9135. 3110.3124.9

149.8139.1133.4102.7134. 3121.9117.6118. 5127.7

0)123.8

' 154.7192142 I131308

r 147. 6152 I138

96.392

123.4 I130 !

98.7 j74

110.0102.2122.866.7

138.1137. 7153.3153.4100.5148.3143.4135.4111.8125.7

154.1139.0137. 7104.6135. 1129.8120.3118.8127.5

123.2

' 158. 5192.5140.7130.8313.2

"131.7150. 3134.0101.998.6121.9129.798.974.2113.5105.0

' 127. 665.4134.7146.9

134.7

14894

113122

r 75. 4 !103'66

' 194. 3

160

0)

0)

1570)250

' 146.40)96.9

75124

217.9(})

810)123.1

' 155.8194141132309

144.3152137

97.493

122.4130

98.174

109.4102.7120.066.1

138.7 !136.9 [154.5 I157.4 I101.5 j150.1145.4140.9112. 5127.4

157.7137.9139.6111.0137.6132.4122.8118.5127.8

123.0

158.8193.2138.7131.6310.4132.8149.6134.0100.597.4

121.1129.895.274.1

113.1105.3126.064.4

135.4148.1

' 157.1' 193. 5' 136. 2-131.9' 312.1' 135. 5' 150.8' 138.2

98.7'95.7

' 119.4' 128.4

r95.5'75.8

' 111.8' 104.8' 122. 7'62.7

T 137. 0r 150. 3

134.1

14991

116115

73.910164

197. 1

157

0)

0)

1600)249

144.2C1)94.771125

227.90)

79123.3157.2194137132317

142.3151138

98.195

121.5 I130 |

94.4 |74 I

110.9104.8119.765.8

' 139. 9136.4153.4160.7102.0151.6145.2

r 142.8'113.0

129.6

161.2137.6141.0115.7141.8131.9123.8119.4128.1

' 133.9

151'89

' 116110

' 73. 2••100

64' 199.1

162

0)

1610)

' 2 2 3r 145. 20)' 90 .9

'67'122

242.80)

' 8 30)' 124. 3' 159.0

' 194131

'133'318

' 143.4151

'140100.0

97' 119.7

128' 95. 2

'76' 112. 3' 105. 5' 122. 6'63.6

r 145. 2136.3156.0164.0101.8

r 153.3144.0144.0

r 112. 9131.2

164.2136.6142.7118.6144.9128.3

' 125. 4110.3

r 130. 8f Revised. i Included in total and group indexes, but not available for publication separately.!Revised series. For revisions for all industries, durable goods and nondurable goods, see p. 18 of the March 1941 Survey. Index for transportation equipment revised

beginning January 1939; see table 57, p. 17 of the December 1940 Survey. Slight revisions were made in data for textiles and products and fabrics beginning 1933; revisionsprior to March 1939 which have not been published are available upon request. Revised indexes for Illinois beginning 1923 adjusted to census trends for the years 1923 through1935 will be published in a subsequent issue. For revisions in Chicago indexes, see note marked with a "f" on p. 29 of the January 1941 Survey. Index for Wisconsin revisedbeginning 1925; revised data not shown on p. 72 of the February 1941 Survey will appear in an early issue. Earlier monthly data on indexes beginning 1923 for Ohio factoryemployment revised to 1935-39 base are shown on p. 17 of the March 1942 Survey. Earlier data for the revised New York indexes will appear in a subsequent issue.

*New series. For indicated series see note marked with an "*" on p. S-8 of this issue.Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis



1942

June

1941


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary



EMPLOYMENT—Cont inued

Nonmfg., unadj . (U. S. Dept . of Labor):Mining:

Anthracite 1929=100..Bituminous coal doMetalliferous doCrude petroleum producing doQuarrying and nonmetallic do

Public utilities:Electric light and powerf._ doStreet railways and bussesf doTelephone and telegraphf do

Services:Dyeing and cleaning doLaundries doYear-round hotels do

Trade:Retail, totalf do

G eneral merchandisingt doWholesale do

Miscellaneous employment data:Construction, Ohio! 1935-39=100..Federal and State highways, total ^ .number. .

Construction (Federal and State) doMaintenance (State) . do

Federal civilian employees:United States do___.

District of Columbia doRailway employees (class I steam railways):

Total . - thousands. .Indexes: Unadjusted 1923-25=100..

Adjusted do

LABOR CONDITIONS

Average weekly hours per worker in factories:Nat l . Ind. Con. Bd. (25 industries)..hours-_U. S. Dept. of Labor (80 industr ies) .__-do. . . .

Industrial disputes (strikes and lockouts):Beginning in month number . -In progress during month _. doWorkers involved in strikes:

Beginning in month thousands . .In progress during m o n t h . do

Man-days idle during month doEmployment security operations (Soc. Sec. Bd.):

Placement activities:Applications:

Active file thousands . .New and renewed _ _.do

Placements, total t doUnemployment compensation activities:

Continued claims thousands.Benefit payments:

Individuals receiving payments § . .doAmount of payments thous. of doL.

Labor turn-over in mfg. establishments:Accession ra te . .mo. rate per 100 employees. .Separation rate, total ._ d o . . . .

Discharges doLay-offs doQuits and miscellaneous .do

PAY ROLLS

Manufacturing, unadjusted (U. S. Departmentof Labor) t 1923-25=100-

Durable goods t doIron and steel and their products, not in-

cluding machinery __ 1923-25=100..Blast furnaces, steel works, and rolling

mills 1923-25 = 100__Hardware doStructural and ornamental metal work

1923-25=100..Tin cans and other tinware do

Lumber and allied products . . _.doFurniture doLumber, sawmills do

Machinery, excl. t ransp. equip doAgricultural implements (including trac-

tors) 1923-25=100..Electrical machinery, apparatus, and

supplies 1923-25=100_.Engines, turbines, water wheels, and

windmills 1923-25=100..Foundry and machine-shop products

1923-25=100..Machine tools* doRadios and phonographs do

Metals, nonferrous, and products doBrass, bronze, and copper products.do

Stone, clay, and glass products do___.Brick, tile, and terra cotta doGlass do

45.892.381.858.152.0

87.974.092.4

129. 8114. 295.2

92,5108.289.7

72.470.8

P 100v 117* 550

p 4, 280v 1, 841

P 9 2 5

P 3,155

p 553p 30, 226

194. 5237.6

179.6

187.0141.6

154.1136.293.1

113.183.3

334.1

262.9

0)

0)248.40)283.1219.20)105.172.9

160. 3

49.288.178.961.551.9

93.569.186.3

122.7112.095.0

97.8105.193.8

163. 0318,436142,185134,896

1,370,110184,236

1,17964.763.3

41.741.3

357571

143227

1,504

5,1261,623

624

3, 576

68430, 561

6.313.71.26

1.032.42

152.2173.9

168.6

179.9150.2

120.1163.283.9

110.071.1

229.9

233.3

224.0

484.7

177.8529.3200.4174.6262.2100.271.8

153.5

49.390.379.062.152.7

94.669.588.3

121.7115.894.5

96.7100.994.2

166.5331,438152, 691136,651

1,391,689185,182

1,21166.564.8

41.040.3

439635

143226

1,326

4,9821,597630

3,623

61129, 307

6.004.24.291.402.55

152.7172.2

166.6

181.6123.8

112.5171.385.5110.173.5233.0

228.4

232.0

507.9

176.5534.7218.7173.7263.898.973.4147.1

50.092.679.962.253.9

95.269.789.6

118.9114.694.5

96.9103.095.8

167.7340,146158, 744138,631

1.444,985186,931

1,23167.666.0

41.241.0

465698

212305

1,825

4,6991,446

671

3,045

57226,494

5.434.14.30

1.132.71

158.1177.6

172.0

183.3145.7

125.2184.792.3

116.180.3

243.4

227.5

240.0

546.2

186. 0553.4234.0182.6273.6104.277.0

155.4

50.094.279.461.854.2

94.970.390.3

121.5113.095.7

100.0111.795.6

164.7320, 301149, 800128, 415

1,487,925191, 588

1,23567.866.5

41.640.9

470687

295358

1,953

4,3561,3961,108

2,650

49322, 942

5.164.53

.311.163.06

162.6183.3

170.6

178.4148.7

123.6187.690.8

118.077.5

248.2

230.7

241.3

572.9

187.8578.2254.4185.6270.8105.476.2

160.5

50.395.379.761.654.1

94.170.390.6

121.2111.296.2

101.0116.496.3

162.3300,381135, 622124, 523

1,511,682194, 265

1,24368.266.3

41.741.1

432664

198348

1,925

4,2291, 488

935

2,548

43021,430

4.874.13

.281.412.44

167.0191.4

173.4

181.1151.5

127.2171.792.3

120.678.2

255.7

231.6

244.7

615.5

194.7596.3261.7185.9267.6109.575.8

173.7

50.295.179.560.952.6

93.470.290.1

117.2108.996.1

103.0125.996.3

157.2270,202111,755118, 559

1,545,131199, 283

1,22767.366.8

41.540.3

271464

228339

1,397

4,2341,327

583

2,597

47121, 066

3.913.51.24

1.441.85

165.4190.3

171.9

183.2147.4

116.0165.886.4

118.870.2

255.3

223.9

241.9

676.3

191.4599.1267.0182.0261.0105.872.9

168.2

49.195.580.261.150.9

93.170.690.0

113.3108.495.3

113.0161.596.3

146.4224, 76275,131

110,311

1,670,922207, 214

1,21166.368.0

41.641.2

143287

3059

476

4,4131,603

493

3,618

52327,847

4.764.71

.292.152.27

169.9195.4

174.2

185.0137.7

121.2173.685.8

120.968.0

269.6

219.0

0)

0)202.80)286.3192.10)106.672.6

171.1

49.095.180.761.346.8

92.070.490.4

109.8108. 894.2

95.4105.194.9

125.6194, 09249,113

105, 920

1,703,099223,483

1.19265.468.2

42.441.5

139222

2642

327

4,8991,956

439

4,584

79741, 056

6.875.10

,301.613.21

173.5204.3

173.7

184. 5133.4

124.9180.881.7

111.167.3

284.2

228.8

(0

(0211.20)276.6199.80)98.065.2

160.6

48.894.581.060.646.7

90.570.790.3

109.5107.694.1

94.0103.294.3

125.1183, 55944,852101, 087

"48.493.881.959.747.7

89.671.290.5

113.8107.993.5

94.4105. 993.9

131.9191. 444

52, 975102, 023

1,805,186 11,926,074233, 403

1,19365.468.0

42.442.2

' 174 |'245

5775

353

4,8881,532

427

4,103

83839,884

6.004.78

.291.353.14

178.3210.6

178.3

190.6132.0

133.3164.686.0

115.871.9

294.8

241.1

0)

0)219.3

0)279.0202.30)102.366.7

165.6

238, 801

1,21566.668.5

42.742.5

'217'278

6678

'390

4, 5591,567

511

3,977

80343,035

6.995.36.33

1.193.84

' 182. 9' 217. 3

181.1

193. 5' 138.8

140.0150.086.7

116.272.9

' 307. 1

'249.9

0)

227.30)290.7

' 208. 20)103.768.6

' 165.3

47.893.681.958.850.3

88.972.191.2

' 121.3r 110.3'95 .2

'94 .3' 108. 6

' 92. 7

' 137. 7218,03772,420

105, 441

1,970,969 2,066,873248,100

1,26669.470.0

42.842.4

'255'329

55'84

'341

4,3981,576

606

3,512

66836,311

7. 126.12.35

1.314.46

' 186. 7' 224. 0

181.3

192. 9136.1

' 145. 6145. 4'87 .7113. 975.0

315.3

' 249. 6

0)

0)234.9

(0292.2

' 208. 00)

' 104. 9' 71.2

r 164. 6

'48 .2'93.0'82 .2'58 .1

51.7

88.0'72. 9' 91. 7

' 127. 6'113.7

' 96. 1

'94 .0' 109. 5

Tl42?l197,90790,103

107, 804

256, 457

1, 29671.170.3

42.742.6

P 275P 3 7 5

POSv 72

P 3 2 5

' 4, 254' 1, 565

'784

' 2,970

' 610• 31.704

7.296. 54.38

1.434.73

' 191.8' 232. 3

' 183. 7

' 196. 6' 135. 2

149.2' 141.3'90.7

' 116.2r 78# 7

r 326.' 4

' 259. 1

0)

0)r 942 7

0) ' '' 283. 3' 210.5

0)' 105. 7'72 .4

' 166. 6p Preliminary. ' Revised. » Included in total and group indexes, but not available for publication separately.§ Data are a weekly average of the number receiving benefits, based on an average of the weeks of unemployment compensated during weeks ended within the monthJTotal includes State engineering, supervisory, and administrative employees not shown separately; see note on p . 27 of the May 1941 Survey.{Revised series. Telephone and telegraph indexes revised beginning 1932, other indicated nonmanufacturing employment series beginning 1929; see p . 17 of the April

1940 Survey, except for indexes for street railways and busses beginning 1932, which were subsequently revised as shown in table 27, p . 17 of the May 1940 issue. Indexesbeginning 1923 for Ohio construction employment are shown in table 8, p . 18 of the March 1942 Survey. Total placements revised to include placements formerly classifiedas "supplementary" because of the omission of one or more of the steps necessary for a complete placement. Most of these placements were so classified because of lack ofregistration and were largely placements in agricultural jobs. Only complete placements were formerly shown in the Survey. Data comparable with the series here shownwill be published in a subsequent issue. For revisions in pay-roll index for all manufacturing and durable goods for 1938 and 1939, see table 12, p . 18 of the March 1941 Survey.

*New series. For pay-roll indexes beginning 1923 for machine tools, see table 40, p . 16 of the October 1940 Survey.Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

August 1942


SURVEY OF1942

June

CURRENT BUSINESS1941


Octo-ber

Novem-ber

Decem-ber

S-111942

Janu-ary



PAY ROLLS-Con t inued

Mfg., unadj. (U. S. Dept. of Labor)—Con.Durable goods—Continued.

Transportation equipment!- -1923-25=100.Aircraft* . . . . d o . . .Automobiles _ d o . . .Shipbuilding*... d o . . .

Nondurable goods!. d o . . .Chemical, petroleum, and coal products

1923-1925 = 100-Chemicals.. . . . d o . . .Paints and varnishes _do . . .Petroleum refining . . d o . . .Rayon and allied p roduc t s . . . . d o . . .

Food and kindred products d o . . .Baking.. . d o . . .Slaughtering and meat packing d o . . .

Leather and its manufactures . d o . . .Boots and shoes d o . . .

Paper and printing. do ._Paper and pulp d o . . .

Rubber products •__ d o . . .Rubber tires and inner tubes d o . . .

Textiles and their products! d o . . .Fabrics! d o . . .Wearing apparel d o . . .

Tobacco manufactures. d o . . .Manufacturing, unadj., by States and cities:

State:Delaware .1923-25=100.Illinois! -- .1935-39=100.Maryland .1929-31 = 100.Massachusetts 1925-27=100.New Jersey... ...-1923-25=100.New Yorkt .1935-39=100.Ohio* do__.Pennsylvania.. 1923-25=100.Wisconsin! 1925-27=100.

City or industrial area:Baltimore 1929-31 = 100.Chicago! 1935-39=100.Milwaukee. 1925-27=100-New York! 1935-39=100-Philadelphia 1923-25=100-Pittsburgh . . d o . . .Wilmington d o . . .

Nonmfg.. unadj. (TJ. S. Dept. of Labor):Mining:

Anthracite 1929=100.Bituminous coal _ d o . . .Metalliferous do__.Crude petroleum producing d o . . .Quarrying and nonmetallic d o . . .

Public utilities:Electric light and power! d o . . .Street railways and buses! . . d o . . .Telephone and telegraph! _ do

Services:Dyeing and cleaning . . . d o . . .Laundries d o . . .Year-round hotels.. _ . d o . . .

Trade:Retail, total! d o . . .

General merchandising!.. do. _ _Wholesale d o . . .

WAGES

Factory average weekly earnings:Natl . Ind. Con. Bd. (25 industries) .dollars..U. S. Dept. of Labor (90 industries) do . . . .

Durable goods doIron and steel and their products, not in-

cluding machinery dollars..Blast furnaces, steel works, and rolling

mills.. _.dollars..Hardware _ doStructural and ornamental metal work

dollars—Tin cans and other tin ware do

Lumber and allied products doFurniture doLumber, sawmills do

Machinery, excl. transp. equip doAgricultural implements (including

tractors) dollars..Electrical machinery, apparatus, and

supplies dollars..Engines, turbines, water wheels, and

windmills dollars. _Foundry and roachine-shop products

dol lars-Machine tools* doRadios and phonographs d o . . . .

422.60)139. 60)146.3

226. 8306. 4169. 6181.6396. 2169. 9174.1182. 5112.5106. 8129. S.166. 2136.8119.1123. 4129.3104.277.2

219.8200.0285. 4142.1230.0212.0

153.8206.4

288.0196.4222.7156. 8189.5163.3196. 0

56.2129.8101.662.065.5

114.289.6

126.2

117.5114.795.7

93.4

240.08,193.5

188.3504.4127.9

173.6232.7177.8156.7362.4144.4154.4137.897.291.9

128 6157.7141.1122.4111.4111.6104.170.2

156.0170.5196.2114.5169.0166.2186.3127.2159.5

200.6166.1163.9134.4134.0143.9138.8

51.2107.285.359.955.7

111.476.2

113.0

98.4102.587.4

95.2100.188.2

34.2631.8836.91

36.40

39.4631.26

36.9827.7023.5725.1221.8938.00

37.32

37.01

45.03

37.7843.2227.09

228.89,045.7

158.0582.0130.7

177.7239.7172.7157.2368.6152.8153.1139.4103. 298.8

123.6156.9135.6118.4113.6113.3107.169.8

159.9170.2202.5117.2173.9170.4188.3126.3154.6

207.4168.9159.3139.0136.8140.5141.3

34.8105.479.361.455.6

113.575.8

115.7

96.4106.787.6

94.097.588.0

33.7031.2235.84

35.53

38.9029.20

34.0427.5923.2124.6821.6037.53

36.62

37. OR

45.02

36.6142.8028.30

224.410,303.0

139.2614.6136.3

181.5247.2171.5159.1368.2165.5155.2142.9104.7100.7130.9162.7138.8116.4119.3114.4121.770.0

169.5178.7207.9116.9173.0184.3190.4131.1163.8

212.8174.8169.7157.9139.1146.3146.0

51.1117.385.461.559.3

115.178.6

116.4

92.1104.788.2

94.099.389.8

34.1031.6636.55

36.07

38.8131.42

36.9228.4224.6825.4923.4938.19

36.31

37.41

45.94

37.7243.5328.32

252.611,145.8

159.3703.8139.5

188.5250.9169.9166.4374.3170.5157.4145.8101.695.3

133.3163.0134.8107.3123.4118.0126.370.4

173.7180.5215.2121.3189.3194.5190.9131.2164.6

220.9177.8168.2170.2144.0143.6145.9

49.6115.585.964.460.5

115.078.1

117.3

99.5105.290.0

95.8106.690.9

35.1032.0636.82

35. 60

37.8131.35

36.5128.9224.4726.0322.7238.47

37.12

37.24

46.62

37.7744.7429.25

282.012,296.0

176.6803.4139.6

196.2261.4173.8168.0386.4163.0157.6151.1100.593.3

135.9165.4138.0111.8122.4120.2119.275.6

169.5183.7224.5120.7188.5190.0195.7136.2173.2

229.6180.3175.0157.3149.9150.6149.7

49.2122.688.364.461.5

115.778.4

117.0

98.5103.491.9

97.3110.992.0

35.6532.8937.92

36.49

38.6332.29

37.5929.5625.1226.7123.2239.23

37.46

37.78

47.81

38.8445.5429.42

287.813,182.6

175.8829.1137.4

197.7265.6172.2167.9385.2157.7159.7153.797.088.4

137.5168.9140.6117.6118.3118.9109.877.1

171.9181.7221.4119.5190.0186.7194.9135.2170.5

226.9179.9173.8150.9151.8149.8153.8

41.8116.389.864.257.5

115.278.2

118.3

93.0101.993.2

98.5117.891.6

35.7432.7937.63

36.41

39.0632.07

34.8927.3924.1226.0721.7938.96

38.72

37.16

50.64

38.0045.1730. 03

290.60)147.90)141.3

203.0271.7175.9173.9391.2157.2157.5168.9106.799.5

144.1169.8136.9108.6122.1123.7111.676.8

182.4188.4234.0125.7198.5194.2202.8139.6172.9

240.4186.9180.2158.7159.0153.1163.2

35.9119.993.764.655.8

115.280.0

122.9

102.693.3

107.8151.192.8

36.0833.7038.62

36.99

39.2631.90

36.8928.8924.3026.7421.4840.67

35. 96

38.90

50.64 |

39.8648.8232.01

r 329.90)153.60)139.0

205.3278.0172.5171.1392.4154.7158.2182.3107.3101.0136.6171.9127.4103.0119.7122.0107.872.6

187.9188.4241.0129.3205.3197.8203.6139.4175.2

247.5189.1182.0156.7160.6153.3169.2

39.4117.194.364.848.9

114.680.5

120.9

86.5103.891.5

94.6105.791.8

37.4735.1140.91

37.31

39.1333.02

38.0029.6423.8025.6321.7742.55

38. 28

40.68

55.04

41.0950.8132.17

337.20)135.00)142.1

212.3279.3176.6178.3391.3150.7159.6162.6113.3107.6135.1174.2127.4101. 7126. 9123.7125.572.3

188.7192.4251.5132.62L0.22100210.9144.7182.2

256.0189.1187.0176.6168.6157.5169.4

49.6118.298.464.852.0

113.783.7

120.9

85.6102.592.6

93.9104.193.7

37.5335.7141.53

38.32

40.2334.08

39.9528.1624. 9426.5423. 2043.06

39. 82

41.10

' 350. 80)132.10)144.3

'219.4287.8179.3179.6394.4150.5160.6159.7117.2112.2134. 8175.6

' 132. 4' 106. 4

129.2124. 8

' 129. 970.6

193.8194.3259. 7136. 4219.2216. 4223.3146.8188.1

263. 8191.0195.0183. 1174.6158.4173.9

50.9116.999.162.654.4

113.584.7

121.8

92.7104.391.6

93.7105.293.9

38.14' 36.11' 41.94

' 38.89

40.6735.11

40. 6528.97

' 25. 3327. 1123. 47

' 43. 82

' 40. 61

41.52

52.91 I

41.98 !50.8732.84 I

54. 43

42.9051.43

' 33. 88

376.80)131. 3(0144. 9

222.8293.2177. 1178.2388. 2152. 9160.2162.3115. 7110.4133.2172. 1130. 3106. 4128. 9126. 8125.273.8

199.4195. 9273.7137. 6224.2217. 9227.4148.9191.3

281.3192. 5204.4181.4179.2159.5178.1

44.7118.5••99.1"63.2'58.1

113.5'84.4122.2

105. 7108.693.5

'93.6108.0r 92. 2

38. 6836. 6042.51

38.97

40.2235. 89

40. 8529.2125.6727.6423. 9644. 25

40. 93

41. 80

53. 62

43. 4950.7934. 31

' 401. 80)

' 136. 20)

' 146. 5

' 225. 7' 302. 6' 176. 5' 179.3' 391. 4' 160. 3' 166. 2' 169. 9' 112.6' 106. 7' 132. 0' 171.0' 136. 7' 112.6' 128.5

129. 0' 119.5'73.3

' 214. 2198.6

r 279. 5141.4

' 230.0219.4235. 0

' 151.1197. 8

' 282. 2193.5216.2175.7

' 184. 6' 161.8' 190. 3

'51.5' 122. 3' 100. 8'62.0'63.0

'113.4'86.8

' 125. 0

' 113.1'113.8'95.4

'94.0' 108. 5'91.7

38. 9337.4043.33

39.62

40.9136.78

41.1429. 3626.6728.4725.1045. 15

42. 55

42. 21

53. 96

43. 9052. 2435. 33

r Revised. i Included in total and group indexes, but not available for publication separately.tRevised series. For revisions in indexes for nondurable goods for 1938 and 1939, see table 12, p. 18 of the March 1941 Survey. Index for transportation equipment re-

vised beginning January 1939, see table 57, p. 17 of the December 1940 Survey. Slight revisions were made in data for textiles and their products and fabrics beginning 1933;revisions not shown on p. 27 of the May 1940 Survey are available upon request. Revised indexes for Illinois beginning 1923 adjusted to census trends for the years 1923 through1935 will be published in a subsequent issue. For revisions in Chicago indexes, see note marked with a " ! " on p. 29 of the January 1941 Survey. Earlier data for the revisedNew York indexes will appear in a subsequent issue. Index for Wisconsin revised beginning 1925; revised data not shown on p. 74 of the February 1941 Survey will appearin an early issue. Telephone and telegraph pay-roll indexes revised beginning 1932, other indicated nonmanufacturing pay-roll indexes revised beginning 1929; see table 19,p . 17 of the April 1940 Survey

*New series. Data beginning March 1931 on Ohio pay rolls are shown on p. 17 of the March 1942 issue; for other indicated pay-roll series, see last sentence of note marked-with an " * " on p. S-8 of this issue. Earlier monthly data for wage series on machine tools not shown on p. 29 of the March 1941 Survey are available upon request.




1942

June

1941


Octo-ber

Novem-ber

Decem-ber

1942

Janu-ary



WAGES—Continued

Factory average weekly earnings—Continued.U. S. Department of Labor—Continued.

Durable goods—Continued.Metals, nonferrous, and products_dollarS-_

Brass, bronze, and copper prod..-doStone, clay, and glass products do

Brick, tile, and terra cotta doGlass do

Transportation equipment. - doAircraft* . . doAutomobiles do . . .Shipbuilding* do--_-

Nondurable goods doChemical, petroleum, and coal products

dollars -Chemicals doPaints and varnishes doPetroleum refining doRayon and allied products do ...

Food and kindred products doBaking doSlaughtering and meat packing.,do

Leather and its manufactures doBoots and shoes do

Paper and printing doPaper and pulp do

Rubber products doRubber tires and inner tubes do

Textiles and their products doFabrics doWearing apparel do

Tobacco manufactures doFactory average hourly earnings:

NatLInd. Con. Bd. (25 industries) do . . . .U. S. Dept. of Labor (90 industries) do

Durable goods do ...Iron and steel and their products, not

including machinery dollars -Blast furnaces, steel works, and rolling

mills dollars .Hardware doStructural and ornamental metal work

dollarsTin cans and other tinware do

Lumber and allied products do.Furniture do.Lumber, sawmills _do_

Machinery, excl. transp. equip doAgricultural implements (including

tractors) dollars- .Electrical machinery, apparatus, and

supplies dollars..Engines, turbines, water wheels, and

windmills dollais -Foundry and machine-shop products

dollars. .Machine tools* doRadios and phonographst do

Metals, nonferrous, and products--doBrass, bronze, and copper products

dollars. _Stone, clay, and glass products do

Brick, tile, and terra cotta. do.Glass ..do-

Transportation equipment. _ _ do.Aircraft * do .Automobiles.. doShipbuilding** do

Nondurable goods doChemical, petroleum, and coal products

dollars. .ChemicaJs doPaints and varnishes doPetroleum refining doRayon and allied products do

Food and kindred products do.Baking doSlaughtering and meat packing-.do

Leather and its manufactures doBoots and shoes do.. .

Paper and printing do. . .Paper and pulp. do

Rubber productsX doRubber tires and inner tubest do

Textiles and their products do..Fabrics do...Wearing apparel do...

Tobacco manufactures do...Factory average weekly earnings, by States:

Delaware 1923-25=100Illinoisf 1935-39=100Massachusetts! 1925-27= 100. _New Jersey -.1923-25 = 100..New Yorkf 1935-39 = 100..Pennsylvania 1923-25=100 _~Wisconsin! .1925-27=100

139.7148.9140.0181.0152.1155.1154.9

34.3038.3728.0424.9729.9142.7035. 6345.6843.8325.11

33.6336.0433.8138.7428.3527.0828.2129.7922.9921.6632.0130.9734.7041.4120.3320.2820.4819.48

.818

.738

.822

.863

.964

.737

.836

.660

.570

.597

. 552

.832

.842

.819

.831

.664

.794

.861

.717

.642

.780

.976

.7971.063.954.650

.824

.866

.7801.020.722.672.665.738.599.573.826.716.836

1.037.534.522.559.517

116.2128.9117.3149.5128.6135.8

r 130. 9

33.7838.4627.0224.5928. 1940.5136.5740.7945.5425.07

33.7436.3832. 6338.2629.0626.3628.2629.4323.6822. 5331. 7030. 4933.1839.5420. 5520.4320.9019.45

.822

.744

.826

.862

.965

.710

.826

. 664

.577

.601

.560

.836

.890

.850

.977

.818

.841

.693

.803

.876

.720

.645

.782

.988

.8121.0661.013.657

.838

.886

.7811.030.729.662.674.737.609.584.825.727.845

1.048.550.534.582.523

114.5125.4118.3151.0130.0132.1126.3

34.8839.1727.9825.3029.2841.2338.0841.0946.4725.38

33.7836.5732. 6538.5728.6026.3328.0630. 3123.9722.9032.0431.1833. 7839.1721.0420.6322.1819. 37

.828

.745

.830

.871

. 968

.736

.837

.669588

.608

.573

.844

.907

.851

.996

.826

.850

.687

.808

.887

.721

.648

.782

.988

.8451.0551.039.658

.837

.885

.7841.025.728.658.672.766.615.590.824.725.861

1.062.554.533.596.520

114.7127.7118.0151.9133.6136.3131.4

35.2238.6528.2825.2730.1941.7238.1941.7246.8225.78

34.1236.5832.5640.1429.2926.5628.3230. 6323.7122.3532.3431.1732.6536.1921.7321.3822.6820.00

.845

.758

.843

.875

.971

.744

.846

.683

.590

.617

.572

.850

.916

.855

1.005

.829

.871

. 697

.821

.887

.736

.653

.8121.003.845

1.0791.043.668

.845

.897

.7891.083.746.657.674.780.630.601.830.728.859

1.046.569.551.602.525

113.6129.2121.9156.8136.5134.4130.2

35.0938.2429.3825.7132.1643.6039.2044.3247.8426.11

34.9937.6633.3340.3330.4227.1428.1831.1623. 5922.0732.6631.7333.5437.9221.9121.8022.2120.36

.853

.770

.853

.877

.969

.749

. 852

.708

.598

.626

.578

.861

.921

.860

1.019

.843

.876

.701

.822

.890

.744

.655

.8361.019.870

1.0911.059.680

.861

.921

.8081.097.773.679.675.786.635.605.834.732.859

1.043.581.566.611.527

118.7132.3120.5157.1133.3139. 4136.7

34.7437.7928.4925.1330.9743.0039.7443.8445.9026.11

35.2137.8933.3040.3330. 5027.4028.8130.7723.1621. 4532.9831.9834.3739.7121. 5621.6621.2820.45

.860

.781

. 865

.886

.977

.754

.840

.707

.602

.640

.573

.917

.864

1.072

.705

.831

.894

.749

.657

.8391.042.901

1.1161.070

.875

.932

.8181.109.775.695.688.794.644.614.841.739.870

1.060.579.567.604.532

121.7130. 3119.4157.4132.3138.6134.8

36.7240.8129.2125.7231.7543.7442.3440.9749.1926.91

36.1438.7434.1341.7431.1328.2828.8431.8224.8723.3634.0232. 4033. 5037.1922.2922.4621.7920.65

.868

.787871

894

.983

.742

.856

.703

.602

.641

.572

.879

.922

.878

1.056

.858

.908

.726

.848

.918

.753

.666

.8361.035.916

1.1071.063.695

.881

.943

.8221.106.797.703.695.782.649.618.855.747.875

1.058.583.571.609.530

128.3135.5125.2163.9137.5143.0136. 6

38.1943. 5428.0424.6230.8049.29

' 46. 7849.3652. 4226. 95

36.1739.1833.8841.0931. 7129.0629.3033. 0225. 0823.6433. 3432.8234. 5539.8522. 1422. 3221. 5920.76

.878

.801

.889

.904

.752

.875

.713

.607

.644

.576

.899

' .926

1.110

.874

.926

.739

.865

.948

.751

.669

.8251.069' .9611.1681.085.701

.949

.8241.107.800.718.697.791.649.616.852.760.887

1.085.589.574.620.549

131.5137.3130.3169.3142.4144.6140.3

38.4743.6229.7726.1032.1549.3144.8148. 9253. 3827.35

36.4539.0234.6642.6431.9528.5629.4130.7026.1624.8633. 4533.2834. 7340. 2322.9422.7323. 5220.05

.880

.803

.893

.909

.988

.747

.892

.709

.613

. 651

.584

.906

' .938

.903

1.093

.879

.928' .754

.872

.957

.759

.675

.8301.061^.9461.1581.091.702

.881

.950

.8311.104.812.718.696.786.658.629.854.764.882

1.074.592.574.629.544

131.6140.3131.9170. 3146.4148.9145.0

' 39. 16' 43. 77' 30.02

26. 52'32.10' 48. 95' 45. 03

49.3452. 35

r 27.68

r 30. 6439. 4035. 2542. 5732.15

' 28. 9429. 4S;u. 0426. 5525. 32

' 33. 6833. 5036.10

' 41. 75' 23. 25r 22 90r 24. 23'19.72

.S88

.809

. 899

.910

.990

. 765

.S99

.720

. 020

.659

.594

.913

•. 950

.900

' 1. 125

.881

.943' . 757

.884

.970

.762

.685

.8261. 051' .9501.1361.078.707

.889

.962

.8391.104.812.723.698.791.663.633.862.769

••.901' 1. 093

.596

.576' .635

.537

134. 6141.8134.4175.4148.8150.2147.7

' 39. 90'44.46'30.00' 26.71' 32. 08' 49. 63' 45. 6350.2953.30

r 27.84

37.0339.9035.34

'41.97'31.93' 29.18' 29. 5231.49

'26.5725.2133.4232.8436.8041.90

' 23.39r 23.22' 23. 85' 20. 90

'. 896.819.910

.926 j

.996

.783

'.894.738.633.671.607.924

'.955 I

.913

r 1.122

.900

.944'.770.897

'.984'.767.689'.8341.055'.9651.1331.080.714

.900

.973

.847'1.103'.809.732.706.800.678.649.868.769'.910

' 1.085.599. 583'.632.554

137. 2144.0134.9177.7150.1151.3147.7

40. 5744. 6330. 5827.1032. 9950. 0845.8150.0853. 0728.34

37. 8640.9536.0342.0732.1330.0130.5931. 9626.3424.8433. 6132. 9738.6943.3423. 7423.7523. 7021.25

.905

.831

.923

.933

1.000.793

.903

.738

.646

.681

.621

.937

.918

1.127

.965

.785

.911

.999

.771

.701

.8351.067.978

1.1421.090.722

.917

.988

.8541.098.805.741.717.802.682.650.876.777.923

1.096.604.592.627.565

' 142. 0147.9138.9

r 180.5152.4

' 153.6150.8

'RevisedJData for rubber products and for rubber tires and inner tubes revised beginning October 1941 and again beginning March 1942, for radios and phonographs beginning

February 1942, and for shipbuilding beginning December 1941, on the basis of more complete reports.fRevised series. Indexes for Illinois revised to a 1935-39 base; for factor for converting average weekly earnings index on a 1925-27 base beginning 1935, see p. 29 of the

January 1941 Survey. Index for Massachusetts revised beginning 1935; earlier data will be published in a later issue. Revised indexes for Wisconsin beginning 1925 will beshown in an early issue. Earlier data for the New York State index will appear in a subsequent issue.

*New series. Earlier monthly data not shown on p. 29 of the March 1941 Survey are available upon request.Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis



1942

June

1941


Octo-ber

Novem-ber

Decem-ber

1942

January Febru-ary March April M a y


W AGES—Continued

Miscellaneous wage data:Construction wage rates (E. N. R.):^

Common labor dol. per hour..Skilled labor ..do._..

Farm wages without board (quarterly)dol. per month.

Railway wages (avg., class I)..dol. per hour..Road-building wages, common labor:

United States, average doEast North Central doEast South Central do . . .Middle Atlantic doMountain... doNew England doPacific doSouth Atlantic do . _. -West North Central.. _..do._..West South Central do.. . .

PUBLIC ASSISTANCE

Total public assistance and earnings of personsemployed under Federal work programst

mil. of doL.Assistance to recipients:§

Special types of public assistance doOld-age assistance* do

General relief doSubsistence payments certified by the Farm

Security Administration--.mil. of dolEarnings of persons employed under Federal

work programs:Civilian Conservation Corps--.mil. of dol_.National Youth Administration:

Student work program doOut-of-school work program. do

Work Projects Administration doOther Federal agency projects financed

from emergency fundsf mil. of doL.Earnings on regular Federal construction

projects* mil. of dol..

0. 796r 1.56

.56

.71

.42

.61

.68

.64

.92

.46

.57

.43

0. 7471.49

.49

.64

.36

.56

.60

.52

.73

.35

.51

.39

188

604621

38

81

1

110

0.7531.50

44.95

.50

.66

.35

.55

.60

.55

.73

. 36

.51

.39

167

604520

C)

67

1

119

0. 7531.50

.36

.57

.59

.55

.76

.36

.50

.40

C)

1

130

0.7611.52

.49

.65

.37

.57

.62

.55

.79

.36

.50

.42

159

614619

C)

1

137

0.7611. 52

45.47.727

.65

.37

.59

.63

.54

.52

.41

161

624719

157

0.7681.52

745

160

624718

C)

0. 7691.52

.37

.59

.61

.59

.81

.35

.50

.41

170

634819

167

0.7761.53

47 . '

.45

.65

.36

.63

.63

.57

.85

.35

.55

.40

162

634820

0.7801.54

.860

.37

.59

.62

.52

.82

.36

.51

.43

157

644919

186

0.7801.54

.840

.47

.68

.37

.57

.62

.52

.82

.37

.52

.42

159

194

0.7881.54

50.90.834

.65

.37

.64

.63

.62

.89

.40

.52

.44

25

56

(a)

237

0.7881.54

.835

.53

.67

.41

.60

.68

.65

.90

.43

.55

.42

644915

0)

25

50

FINANCE

BANKING

Acceptances and com'l paper outstanding:Bankers' acceptances, total mil. of doL.

Held by accepting banks, total doOwn bills do.Bills bought. _ do.

Held by others• doCommercial paper outstanding do

Agricultural loans outstanding of agencies su-pervised by the Farm Credit Adm.:

Total, excl. joint-stock land bks.f.mil. of dol._Farm mortgage loans, total do

Federal land banks doLand Bank Commissioner do

Loans to cooperatives, total doBanks for cooperatives, incl. central

bank mil. of dol..Agr. Mktg. Act revolving fund do

Short term credit, total! doFederal intermediate credit banks, loans

to and discounts for:Regional agricultural credit corps.,

prod, credit ass'ns, and banks forcooperativesd* mil. of dol—

Other financing institutions doProduction credit associations doRegional agr. credit corporations...doEmergency crop loansf doDrought relief loans. do

Joint-stock land banks, in liquidation..do..._Bank debits, total (141 cities) do.. .

New York City do.._.Outside New York City do. . . .

Federal Reserve banks, condition, end of mo.:Assets, total mil. of dol..

Res. bank credit outstanding, total...doBills discounted^.. doUnited States securities do

Reserves, total doGold certificates do

Liabilities, total doDeposits, total do

Member bank reserve balances doExcess reserves (estimated) do

Federal Reserve notes in circulation, .doReserve ratio rpercent--

163122

784441

315

2, 8642,2741,706

568115

10113

475

26047

2484

1294727

46, 68917,39428,295

24, 6722,775

2,64520,83020, 56624,67213,95712,3052,3629,37689.3

213161101

5952

299

2,9882,4481,818

63090

7416

450

22542

2217

1305043

'42,14817, 282

' 24, 866

23,7042,267

o2,184

20, 58320. 32223, 70415, 86313, 0515,2106,72491.1

210161106

5549

330

2,9862,4371,811

62696

8016

453

22744

2247

1295041

40,94716, 28824, 660

23, 8282,293

K

2,18420, 60320,31723,82815, 78113,1515,2156,85791.0

1971481004750

354

2,9752,4261,804

62299

8316

450

22945

2217

1284939

39,11215, 07924, 033

23,8332,275

ii

2,18420, 57120, 31423,83315, 52112, 794

4, 7967,08091.0

177131

854646

371

2,9542,4111,795

616111

9416

431

22543

2087

1254938

39,96415, 65424,310

24,0262,264

ii

2,18420, 71220, 46124,02615,48913,2275,1697,23491.2

185138

904747

378

2,9242,3951,786

610119

10116

410

21939

1947

1214936

46,46319,14827, 315

24,2112,309

62,184

20,84120, 57224, 21115,46612, 5804,5577,43291.0

194144

935150

387

2,9062,3801,776

604128

10917

398

22038

1877

1184835

41,15216,07725,075

24,1922,312

a2,184

20,82220, 56924,19215,21313,1403,8287,66991.0

194146

925449

375

2,8912,3611,764

597133

11317

397

22639

1886

1174833

51, 71720, 59831,118

24, 3532, 361

o2,254

20, 76420, 50424, 35314,67812,4503,0858,19290.8

197154103

5243

381

2, 8732,3431,753

590130

11116

400

22540

1915

1184832

44, 26117, 24727, 014

24, 2882,369

A

2,24320, 90220, 53324, 28814. 71512, 9273,3478,30390.8

190144

925346

388

2,8782,3321,746

586129

11017

417

23541

2034

1224732

37, 77314, 24223, 531

24,3222,412

c2,262

20, 84620,51524,32214, 44112,6192.9698,55990.6

183146

895737

384

2,8762, 3111,731

580125

10616

440

24743

2194

1274730

44,80717, 05627, 751

24,1872,355

Q

2,24420,82120,49524,18714, 26812, 5753,0738,63590.9

177139

865338

373

2,8872,2961,721

575121

10216

470

25844

2454

1304729

42, 46116,02326,438

24,3592,468

2,35720, 82420,51024,35914,20412, 6582,7918,821'90.4

174133825141354

2,8692,2881,715572114

9913468

257452414

1314728

44,20116,98527, 216

24, 4682,634

2,48920,79920,52224,46814,09412,4052,4869,071

r Revised. 1 Less than $500,000. •None held by Federal Reserve banks. l Not available.HConstruction wage rates as of July 1, 1942: common labor, $0,803; skilled labor, $1.56.§Figures for special types of public assistance a„ ^ . . . . B and general relief exclude the cost of hospitalization and burial. The cost of medical care is also excluded beginning Septem-

ber 1940; this item is included in all earlier data on general relief and in figures for July 1937-August 1940 on special types of assistance.cf To avoid duplication these loans are excluded from the totals.jRevised series. Total public assistance and "other Federal agency projects financed from emergency funds" revised to exclude earnings on regular Federal construction

projects and also on projects financed from Reconstruction Finance Corporation funds; revised data beginning January 1933 will appear in a subsequent issue. For revisionsin data on emergency crop loans published in the Survey prior to the September 1940 issue, see note marked " t " on p. 76 of the February 1941 Survey.

*New series. For data beginning 1933 for old-age assistance, see table 56, p. 17 of the December 1940 Survey. Data on earnings on regular Federal construction projectsbeginning January 1933 wnll appear in a later issue.Digitized for FRASER


S-14 SUKVEY OF CURRENT BUSINESS August 1942


1942

June

1941


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary


FINANCE—Continued

BANKING—ContinuedFederal Reserve reporting member banks, con-

dition, Wednesday nearest end of month:Deposits:

Demand, adjusted mil. of dol._Demand, except interbank:

Individuals, partnerships, and corpora-tions... mil. of dol__

States and political subdivisions doUnited States Government do

Time, except interbank, totaL_ ..doIndividuals, partnerships, and corpora-

tions mil. of doL.States and political subdivisions...do

Interbank, domestic -doInvestments, total do

U. S. Govt. direct obligations, total..doBills t -do—Bonds - doNotes ...do

Obligations guaranteed by U. S. Govern-ment mil. of doL.

Other securities _ doLoans, total do

Cominere'l, indust'l, and agricult'L.-doOpen market paper doTo brokers and dealers in securities.-doOther loans for purchasing or carrying

securities mil. of dol_.Real estate loans doLoans to banks doOther loans do

Installment loans to consumers:*By credit unions:

Loans made .doRepayments doAmount outstanding, end of month..do

By industrial banking companies:Loans made ..doRepayments doAmount outstanding, end of month..do

By personal finance companies:Loans made doRepayments do —Amount outstanding, end of month._do

Money and interest rates:§Bank rates to customers:

New York City percent..7 other northern and eastern cities do11 southern and western cities... do

Discount rate (N. Y. F. R. Bank) doFederal land bank loans doFederal intermediate credit bank loans.doOpen market rates, N. Y. C :

Prevailing rate:Acceptances, prime, bankers, 90 days

percent..Com'l paper, prime, 4-6 months doTime loans, 90 days (N. Y. S. E.)..do

Average rate.Call loans, renewal (N. Y. S. E.)___doU. S. Treasury bills, 3-mo.* do

Average yield, U. S. Treasury notes, 3-5 yrs.:Tax-exempt percent._Taxable* _ do.

Savings deposits:Savings banks in New York State:

Amount due depositors mil. of dol_.U. S. Postal Savings:

Balance to credit of depositors do.Balance on deposit in banks do.

COMMERCIAL FAILUEESfGrand total number..

Commercial service, total _do_Construction, total do.Manufacturing and mining, total do

Mining (coal, oil, miscellaneous) do...Chemicals and allied products. . .do.. .Food and kindred products do.._.Iron and steel products do...Leather and leather products do-_.Lumber and products do...Machinery do...Paper, printing, and publishing do...Stone, clay, and glass products do...Textile-mill products and apparel-—do._.Transportation equipment do...Miscellaneous do...

Retail trade, total do_.Wholesale trade, total do_.

Liabilities, frrand total thous. of dolCommercial service, total do._Construction, total do...

25, 502

25, 3431,8031,4425,112

4,955137

9,00521, 64216, 2002,91810, 3832,899

2,0323,41010, 7406, 469341519

3931,236

361,746

.1.004.001.50

7/16

134

1.00.363

1.15

5,422

1,31624

804486713514235618111872321748668

9,906673945

I

23,949

23,6671,604463

5,443

5,243174

9,27217,87211,2551,0807,9292,246

3,0383,579

10,4535,897

371529

4531,244

401,919

32.726.8

216.1

51.847.0

306.3

87.079.3

527.0

1.952.583.231.004.001.50

Me

1.00.089

.38

.68

5,628

1,30430

9703651

16648

2556

227

194

483

1561998

),449401684

24, 544

24,0291,750

4705,444

5,260158

9,07818,19911, 2791,0747,9522,253

3,3093, 611

10, 5726,047

388478

4391,253

431,924

30.827.1

219.8

49.546.7

309.1

85.080.9

531.1

LOO4.001.50

Me

M

1.00.097

.37

.67

5,575

1,30729

9084059

165

65

186

191

342

2557074

13,422500

1,072

24, 349

23, 7191,876

5915,445

5,268156

9,35518, 33511,2511,0197,9492,283

3. 3163,768

10,9036, 222

397807

4361,258

451,940

29.627.0

222.4

46.146.1

309.1

86.281.3

536.0

1.004.001.50

MeH

IK

1.00.108

.33

.62

5,555

1,30928

9544676

16635

468

12107

183

312

2158581

11,131672

1,732

24, 277

23,8941,906

5805,448

5,267160

9,66918,10110, 982

7857,9172,280

3,3193,800

11,0246,447

397494

4281,257

391,962

24.025.9

220.5

38.442.4

305.1

68.074.0

530.0

1.982.623.291.004.001.50

MeH

m1.00.055

.34

.62

5,555

1,31128

7354639

12357

4273

11743

172

1546067

),393447594

24, 258

23, 6621,889

6535,459

5,285153

9,35718, 37911,318

7978,2772, 244

3.3303, 731

11,2036,554

419531

4311,265

371,965

25.228.0

217.7

43.045.1

303.0

76.379.8

526.5

1.004.001.50

VA

1.00.049

.41

.72

5,554

1,31727

2957

13838

3945

IS8

133

232

1251669

7,333358577

24, 324

23,8141,780

8265,410

5,232155

9,40518.43211, 860

9908,3422,528

2.9223. 650

11,2596,593

428548

4271,256

381,969

23.026.2

214.5

40.844.1

300.3

81.481.2

526.7

1.004.001.50

m1.00.242

.57

.90

5,541

1,32427

8423851

1674

1539

15

197

153

332

2452957

), 197448618

23,650

23,9931,7211,4755,368

5,172173

9,04018,71512,085

8838,6672, 535

2,9643,66611,3706,722423535

4221,259

351,974

25.028.1211.4

44.947.6297.6

103.194.4535.4

1.882.452.991.004.001.50

Me

l\i

1.00.298

.641.02

5,555

1,31426

898626314641125461251434211964087

13,469863

1,161

24, 747

24,2061.8201,4515,259

5,058181

9,08819,08712, 6891,2409,0872,362

2,7093,689

11.2556,778

424448

4091,248

371, 911

17.929.9

199.4

38.346.0

65.974.7

526.6

1.004.001.50

Me

1.00.214

.47

.96

5,433

1,31025

9625365

15946

3955

113

131

443

2560481

9,916589851

24, 712

24,5951,8041,6715,205

5,005180

9,03319, 55113,1321,2069,5892,337

2,7233,696

11,3926,902

422471

4101,250

371,900

18.625.6

192.4

34.839.7

285.0

64.170.0

520.7

1.004.001.50

Me5A

1.00.250

.44

.93

5,401

1,30725

9165957

14158

3155

138

152

242

23589

701,631

927920

24,197

23, 6731,9161,8695,137

4, 953164

8, 88519,10012, 705

6809,6712, 354

2, 6843,711

11,3947,003

424408

4071,245

291,878

25.427.5

190.3

42.345.4

281.9

84.984.4

521.2

1.852.483.201.004.001.50

Me

m1.00.212

i .44.93

5,392

1,30525

1,0484877

18864

4378

2510244

363

1865085

12,0111,191

896

25, 358

24, 6362,0961, 5065,128

4,929189

8, 68720,11113, 7301,6999,7052,356

2,6753,70611,0946,726409441

3951,246

301,847

19.325.3184.3

36.941.7277.1

71.476.0516.6

1.004.001.50

1.00.299

5,373

1,30625

938386514648364515218329319

62465

9,282335

1,033

25, 483

24,9221, 9711,3015,109

4,914175

9,17520, 77414, 5591,953

10, 3092,297

2,6673,548

10, 9056,542

382528

4031,243

281,779

18.024.5

177.8

33.842.7

268.2

57.570.4

503.7

1.004.001.50

MeH

1M

1.00.364

1.03

5,374

1,30824

9554263

134

51734

20o

203

r'205

2564769

9,839475

1,171r Revised. §For bond yields see p. S-18.i No tax-exempt notes outstanding within maturity range after March 15, 1942.t Includes certificate of indebtedness beginning April 1942.t Revised series. For data beginning January 1940 and an explanation of the revision, see p. 32 of the March 1941 Survey.

March 1940 Survey.

Average shown for March 1942 covers only first half of month.

For previous revision of 1939 data, see p. 31 of the

*New series. For data beginning 1929 for industrial banking companies, personal finance companies and credit unions, respectively, see table 35, p. 18 of the September1940 Survey, table 25, p. 26 of the September 1941 Survey, and table 27, p. 26 of the October 1941 issue. The series on 3-months' bills of the U. S. Treasury represents the rateon new issues offered within the month, tax-exempt bills prior to March 3941, taxable thereafter; earlier data will be published in a subsequent issue. Earlier data for the seriesor, taxable Treasury notes appear on p. S-14 of the April 1942 Survey.Digitized for FRASER




1942

June

1941 1942


Octo-ber

Novem-ber

Decem-ber

Janu-ary


FINANCE—Continued

COMMERCIAL FAILUKESt-Continued

Liabilities—Continued.Manufacturing and mining, total..thous.of dol.

Mining (coal, oil, miscellaneous) doChemicals and allied products. doFood and kindred products doIron and steel and products. doLeather and leather products doLumber and products doMachinery _ doPaper, printing, and publishing doStone, clay, and glass products doTextile-mill products and apparel doTransportation equipment-- doMiscellaneous do

Retail trade, total .doWholesale trade, total do

LIFE INSURANCE

Association of Life Insurance Presidents:Assets, admitted, total}: mil. of dol

Mortgage loans, total doFarm. doOther. _ do

Real-estate holdings doPolicy loans and premium notes doBonds and stocks held (book value), total

mil. of dol..Gov't. (domestic and foreign), total-do.

U. S. Government . . .doPublic utility doRailroad doOther. do.. . .

Cash doOther admitted assets do

Insurance written:®Policies and certificates, total number

thousands..Group doIndustrial. doOrdinary _.do

Value, total .thous. of dol_.Group... _-doIndustrial _._doOrdinary .do

Premium collections, total® doAnnuities doGroup _ doIndustrial doOrdinary do

Life'Insurance Sales Research Bureau:Insurance written, ordinary, total _do

New England _ doMiddle Atlantic do____East North Central do. . . .West North Central _doSouth Atlantic doEast South Central doWest South Central __dO-__.Mountain doPacific-. do

Lapse rates 1925-26=100..

MONETARY STATISTICS

Foreign exchange rates:Argentina dol. per par>er peso._Brazil, official dol. per milrei?__British India . dol. per rupee. _Canada dol. per Canadian dol..Colombia _ dol. per peso..Mexico doUnited Kingdom dol. pf>r £

Gold:Monetary stock, U. S mil. of doL.Movement, foreign:

Net release from earmark* . .thous. of dol...Exports doImports do

Production, estimated world total, outsideU. S. S. R thous. of dol..

Reported monthly, totalf doAfrica doCanada - doUnited States . do

Receipts at mint, domestic (unrefined)fine ounces..

Currency in circulation, total.___..mil. of del-Silver:

Exports.__ _. thous of dol_.Imports doPrice at New York .dol. per fire ozProduction, world thous. of fine oz.

Canada§ . doMexico doUnited States „ do

Stocks, refinery, end of month:United States _ do

3,3272221186329963

82930040312418078

2793,7521,209

27,4625,164

6854,4791,4102,176

17, 4318,4536,5924,3962,6301, 952

712569

71087

425198

647, 394161,061129,863356,470277, 578

25, 65415, 78364, 014

172,127

463, 32537,029

117, 577106,79647, 66044,40719,18232, 24712, 28846,139

.29K

. 061

.301

.900

. 570

. 2064. 035

22, 737

-14,792

128,29912, 383

. 351

3,15515782

45188

188201113251

161,030

328250

3,5911,618

25,8884,796

6734,1231,6052,325

15,4186,9145,0823,9722,7111,8211,202

542

73fi32

459246

648,14462, 977

135, 633449, 534272,173

29, 85912,52061,120

168, 674

594,16447,099

154. 975134,00855,06963,41326,79245,38515, 35552,068

87

.298

.061

.301

.882

.570

.2054. 032

22, 624

3, 980

30, 719

105, 87589. 58146, 33915, 89016, 395

255, 2629,612

2104.099.348

23, 2142,0588,0625,047

6,698429

5573112672

597346584272562

362,8883,5791,573

26,0024,820

6744,1461,5932,312

15, 5826,9875,1574,0432,7371, 8151,171524

72949438243

660,12582. 909128, 783448,433271,48233,69313, 78252,341

171,666

582, 29247, 531153, 032132, 76656,18257, 94623, 34743,17315,11053, 205

3,7995661

1, 5032803141659571255

35745156

3,4921,439

26,1064,851

7214,1301,5852,302

15, 7187,0475,1914,0682,7481,8551,120530

72942450237

645,04671,689131, 329442,028245,17320,73213,14956,423154,869

581,17144, 850147,610131,89555, 74661,53524, 23344, 99315, 62454,685

4,18999

1852,262

6637

342477103

17167

7427

3,239924

26,2454,882

6784,2041,5752,293

15,8147,0925,2334,1082,7471,8671,139

542

73862

431245

699, 549130,229128,493440.827251.887

21;47813,82860,842

155,739

581, 99845,204

148,781131,36755,45761,11526.55643,61915,33754,562

2,87914673

1,02712811733322914228

238269149

2,790729

26, 3764,924

6774, 2471,5582,281

16,2657,3915,5464,2242,7631,887815533

82042499279

730,32774, 794148, 388507,145261,86522.84014, 63755, 685

168,703

658, 33951,195

181,013152,17959, 52666,13024,84545, 50716. 50761,437

\

.298

.001

.301

.883

. 570

.2054. 032

. 061

.301

.890

.570

. 2054. 032

22, 075 ' 22, 719

-27,728 I13 !

37,055 j

109,970 j93,597 !48, 21215.98318, 463

358, 6039, 732

3534, 686. 348

227 7631,8526, 7266,310

-31,2026

36, 979

108, 53562, 44347, 58736,35317,413

322, 5069, 995

2073. 561.348

22,6071, 6606,8786,277

.298

.061

.301

.891

. 570

.2054.033

22, 761

.061

.302

.888

.570

.2064.033

22,800

-46,786 -32,231 -60,9135 1 3

65,707 I 40,444 (°)

3,8273282267638463

36620356283

52856

5653,472832

26, 5084,959

6754,2841,5412,271

16, 3687,4395,6034,2382,7551,936

828541

75938

470251

681,47989,360141,349450,770247, 96623. 67011,94953,168159,179

581,69246,258158,819135, 36052, 79257,87423, 38340. 55313,91052, 743

5,651577254547553159238780206818772

1,3774,3231, 471

26, 6625,012675

4,3371,4882,255

16, 6417,7435,9084, 2552,6821,961681585

3,550184200

1,3781739917651704

615100500

3,6411,285

26,8175,023671

4, 3521,4832,241

16, 5287,6135,7794,3092,6871,919955587

2,52518273470116119456662143331922455

4,2321,027

26,9285,047672

4,3751,4742,228

16, 7067,8165,9814,3042.6801,906884589

3,73929922

1,10216620439019149312442725

2964,8131,369

27, 0805,071

673

I

1,193246598349

1,141,316298,817186,190656,309414,13790,14824, 75784,397214,835

879, 49266, 292

251, 633196, 56979,86490, 21834,15464,97620,48075, 306

87

77033

404334

955, 35349,076119, 820786, 457295, 82738,92117,84261, 281177, 783

1,001,65383,056 !

309,292 I220,73987,33291,272 |38,27367,60221,69482, 393

67732418227

650,64950,231126,492473,926272, 77825, 37815,04057, 578

174,782

634,53851,310

175, 355141, 93960, 21860, 75424, 74244, 57715,34560, 298

1,4522,216

16, 7547,8305,9834, 3512,6711,902986601

72455

456213

652, 45997, 826140, 735413, 898291, 53824,13018, 78964, 257184, 362

552, 04442, 030138,708126, 33053,18252,17324, 96046, 53414. 53353, 594

.298 ;

.061 I

.302

.886

.570

. 2054.034

22, 785

109. 93593, 86347,21215, 57820, 807

385, 35010,163

3483, 356.348

21,8081, 6256,9445,620

I

111,265 |94,890 !47, 97016,14118, 781

338, 23310, 364

704,221.348

20, 4741, 6405,9735,087

.298

.061

.301

.874

.570

.2064. 035

22, 737

-99, 705

.298

.061

.301

.878

.570

.2064.035

22, 747

.298

.061

.301

.884

.570

.2064.035

22, 705

.298

.061

.301

.877

.570

.2064. 035

2,953481569366453

26358

42998316204328

3,8291,132

27, 2095,105681

4,4241,4362,202

16,9448,0146,1564,3692,6591,902921601

72168

454200

625,084124,823139,022361,239276,00723,11314,96866,272171,654

462, 76137,131118, 591106,48744,93145,96818, 95032, 60411, 99846,101

.298

. 061

.301

.872

. 570

. 2064. 035

22,687 I 22,691

-38,506 -109,277;-65, 525 j-20, 068

r

2, 92423449

622"9569

24H63

56239

62348274

4, 392877

27, 3415,134684

4,4501,4232,188

17,3918.4536,5954,3782, 6501,91059760S

70548

461196

580,12487, 773141,378350,973270,51625,36314,49659,138171, 524

457,92636, 248114,230106, 44548, 83344. 67917,75831,82512,18845. 720

. 29S

. 061

.301

. 880

. 570

. 20f.4. 035

22,714

- 3 8 , 196

107, 94091, 59646, 63715. 49919,740 j

324,13510,640

j!

105.035 I'104, 510p88, 823 T 88,59947, 328 | v 47, 53414, 746 14,19816, 700 14, 982

237, 66011,160

18, 3521,6814,4294,631

2,324 I 2,235 | 2,803 j 1,231 I 1,036 | 2,739

.35121,1961, 7225,5485,661

1,947

235, 57111,175

v 90, 440p75,654v 44,463

13,14710,034

100, 59085,074

P 47,4.3015, 37210, 959

134.028 141,11011, 485 11, 566

I

v 83,419p 46, 303

14,72811,058

141, 28811, 767

»84. 41$P 47, 404

14,88110, SOT

138.84G12, 074

21,1,7,4,

4,

351368538471844

382

. 351- 20, 361

1,4787,2134,470

3,224

. 35121,6571,6067,2115,285

3,152

.351

1,613

5~606

2,930

4,948

3,270r Revised. vPreliminary. « Publication of data discontinued. +36 companies having 82 percent of total assets of all United States legal reserve companies.% 39 companies having 81 percent of total life insurance outstanding in all United States leeal reserve companies. •Or increase in earmarked gold (—).\ See note marked "\" on p. S-15 of the February 1942 Survey in regard to changes tnat have affected the comparability of the data; a subsequent revision of the data for

Africa and the total reported monthly beginning April 1941 includes estimates for Sierra Leone and Nigeria and are as reported by the Bureau of Metal Statistics.| Data reported by the Canadian Government; see note marked " § " on p. 33 of the June 1941 Survey.



Monthly statistics through December 1939 to-gether with explanatory notes and referencesto the sources of the data, may be found in the1940 Supplement to the Survey

1942

June

1941


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary


FINANCE—Continued

PROFITS AND DIVIDENDSIndustrial corporations (Board of Governors of

the Federal Reserve System): *Net profits, total (629 cos.) mil. of dol..

Iron and steel (47 cos.) doMachinery (69 cos.) doAutomobiles (15 cos.) ..doOther transportation equipment (68 cos.)

mil. of dol..Nonferrous metals and products (77 cos.)

mil. of dol._Other durable goods (75 cos.) doFoods,beverages,andtobacco(49cos.)_doOil producing and refining (45 cos.)._doIndustrial chemicals (30 cos.) doOther nondurable goods (80 cos.) doMiscellaneous services (74 cos.) do

Profits and dividends (152 cos.):Net profits doDividends:

Preferred doCommon do

Public utilities, except steam railways and tele-phone companies, net income (52 cos.) (Fed-eral Reserve Bank of New York)_mil. of doL.

Railways, Class I, net income (Interstate Com-merce Commission) mil. of doL.

Telephones, net operating income (91 cos.)(Federal Communicat ions C o m m i s -sion) mil. of doL_

Corporate earnings (Standard and Poor's):Combined index, unadjusted*.....1926=100..

Industrials (119 cos.) doRailroads (class I)* doUtilities (13 cos.) do

PUBLIC FINANCE (FEDERAL)

War program in the United States, cumulativetotals from June 1940: *

Program J _ mil. of dol . .Commitments doCash expenditures § do

Debt, gross, end of month. doPublic issues:

Interest bear ings . _ doNoninterest bearing do

Special issues to government agencies andtrust funds mil. of dol . .

Obligations fully guaranteed by U. S. Gov't:Total amount outstandingcft mil. of dol . .

By agencies:cfFederal Farm Mortgage Corp doHome Owners' Loan Corporation f. doReconstruction Finance Corp do

Expenditures, total f thous. of dol . .National defense* doAgricultural adjustment program* doUnemployment relief* doTransfers to trust accountf doInterest on debt* doDebt retirements doAllother* do

Receipts, total . .doReceipts, net* do

Customs - doInternal revenue, total do

Income taxesf doSocial security taxes do

Government corporations and credit agencies:Assets, except interagency, totaL.mil. of dol . .

Loans and preferred stock, total doLoans to financial institutions (incl. pre-

ferred stock) .mil. of doL.Loans to railroads doHome and housing mortgage loans..doFarm mortgage and other agricultural

loans mil. of dol . .Allother d o . . . .

U. S. obligations, direct and fully guaran-teed . . .mi l . of dol . .

Business property doProperty held for sale. doAll other assets - .do

Liabilities, other than interagency, totalmil. of dol . .

Bonds, notes, and debentures:Guaranteed by the U. S .doOther do

Other liabilities, including reserves.._doPrivately owned interests -doProprietary interests of the U. S. Govern-

ment mil. of dol__

'174, 384134,094P 37, 847

72, 422

64,083454

7,885

4,549

9301,5631,220

4,531,0733,822,720

31, 44872, 329

1,047390, 243

1,369211,917

2,493,6372,492,259

27,6222,424,2232,086,465

41, 908

549844873

56

36284342534836

23105

53.6

103.2

61.8

108. 3111.859.9

139.6

40,86131, 5878,757

48,979

42, 285

574

6,120

6,360

1,2692,4091,741

1,545,602832, 233

22,025130, 897

9,565339, 431

17,128194, 322

1,277,0921,276,009

38, 2171,211,087916,170

31,81713, 2778,804

1,115505

2,445

3,2271,511

925636

1,4971,415

9,417

6,3701,4431,604

424

3,436

52, 50835, 548

9,87049,540

42, 669548

6,324

6,930

1,2692,4092,101

1,600,253966.18344,232

132,075168, 554

24,8282,654

261, 726455, 556412, 942

36, 743399, 783

83, 66847,926

13,7978,756

1,101497

2,413

3,1911,553

947653

1,5671,930

10,142

6,9391,4421,761

425

60,91839, 65011,16050,936

43,916550

6,470

6,928

1,2692,4092,101

1,563,7121,129,286

26, 764105,70714,3118,556

34,223244.864553,833396, 510

34,511500,13258,674

172, 696

13, 8108,826

1,076497

2,413

3.1521,690

967664

1,6251,800

10,123

6,9371,4451,741

426

'3 ,230 i 3,261

560814660

56

284

23170

39.8

188.4

58.6

107.4106.2112.6109.0

61,66344,28412,67651, 371

44,157556

6,658

6,929

1,2692,4092,101

1,882,0111,327,393

32,456108,493

6,200169,359

7,951230,161

1,136,079l 1 3 i 9 1 4

36,1141,076,506779,91737,197

13, 9898,864

1,075497

2,427

3,1281,738

6711,7101,862

10, 231

6,9371,4341,859

427

3,331

68,20749, 61914,43153,608

46, 401544

6,664

6,930

1,2692,4092,101

1,533,67857, 865109, 41445,01074,6046,710

262, 055488, 758445, 29334,040431, 29468, 30848,910

14, 3689,033

1,074484

2,413

3,1051,957

1,015689

1,8051,911

10, 306

6,9381.4161,952428

3,633

68,37351,44116,05055,066

47, 755504

6,806

6,316

1,2692,4091,802

1,860,4451,445,603

71, 82095,3479,750

15,4902,740

219, 696730,198563, 949

29,967

66, 229180, 561

14, 4709,001

1,072483

2,401

3,1121,933

1,021698

1,8791,980

9,690

6,3241,3931,974

430

4,349

550725561

24221

138.4

124. 884.4

127.6

80,60456,62518,22058, 020

50, 551487

6,317

1,2692,4091,802

2,557,1031,846,555

112,840114,805

8,750232,446

15, 553226,154

1,214,4171,212,303

32, 9261,159,387767,098

41,376

14,6609,167

1,114498

2,424

3,1341,996

7141,8911,889

9,765

6,3241,3922,049

431

4,464

97, 76885, 03920, 51760,099

52, 555481

7,063

5, 673

9372,4091,492

2,630,9682,100,754

106, 25193, 56441, 54031, 7373,270

253, 851614, 084577, 64735,187

555, 031133, 469

52, 576

14, 9089,063

1,079497

2,430

3,1231,934

1,027751

1, 964

2, 104

9,219

5,7051,4022, 111

4325, 256

^119,359v 85, 971v 22, 970

62,434

54, 759486

7,190

5,673

9372,4091,492

2,629,8392,201,081

96, 93092, 262

9,36012,136

1,070217,000937, 281757, 976

27, 284879, 417282, 506256, 955

15, 2249,059

1,060498

2,380

3,1172,004

1,058782

2,0172,308

9,418

5,6971,3962,325

434

5,372

P65

P20

*>39

P 2 0 6

p 134

64.1

P 8 5 . 4p 79.0P 5 8 . 2

p 143. 2

P149, 732P102, 366P26, 165' 62, 464

' 54, 652M79

7,333

5,666

9302,4091,492

3,436,3012,796,958

81, 38495, 88722,113

204, 88615, 392

219, 6813,547,8003,547,169

32, 5593,493,0823,082,627

48, 576

15, 7509,065

1.046500

2,392

3,1002,026

1,060792

2,2622,571

9,620

5,6901,4332,497

435

5,694

P ! 6 8 , 7 6 9112, 265

29, 73664, 961

57,139465

7,358

5,666

9302,4091,492

3,755,2993,230,780

65, 69991,01948, 26076, 598

2,289240, 653732, 237695, 433

32, 386683, 522335, 370

43, 232

16, 6569,218

1,030502

2,372

3,2722,041

8152,7172,830

9,776

5,6881,4312, 656

436

6,444

8,769P121.996

P33, 67068, 571

60, 591462

7,518

* 5, 666

9302,4091,492

3,954,9683,552,676

62, 25782, 081

519, 2031,500

236,246764,037562, 666

20, 608708, 059216,135222, 134

17, 3439, 005

1,020498

2,352

3,0922, 042

1,088833

3,0673,349

10, 078

5,6871,4402, 950

437

6,828r Revised. » Preliminary. ' N u m b e r of companies varies slightly. cfThe total includes guaranteed debentures of certain agencies not shown separately.^Figures do not include $5,573,000,000, Naval Supply Bill, fiscal year 1943, approved February 7, 1942, but not legally available until July 1, 1942.§Revised because of changes made by the Treasury in national defense expenditures. Earlier data beginning July 1940 are available upon request.fRevised series. Data for total obligations guaranteed by the United States and for the Home Owners' Loan Corporation have been revised beginning September 1939

to exclude matured debt; earlier data shown in the Survey similarly exclude matured debt. For revised series under receipts and expenditures see note marked " * " on this page.*New series. The new series on profits and dividends of industrial corporations of the Board of Governors of the Federal Reserve System have been substituted for the

Federal Reserve Bank of New York's series. For a description of the series and earlier data see table 10, p. 21 of the April 1942 Survey. For explanation of the new series onthe war program and earlier data see table 9, p. 21 of the April 1942 Survey. Net receipts represent total receipts less social security employment taxes which, beginning July 1940,are appropriated directly to the Federal old-age and survivors insurance trust funds and do not appear as transfers to this fund under expenditures, as formerly; earlier data onnet receipts and revised data on income taxes appear in table 50, p. 18 of the November 1940 Survey, while earlier data for expenditures and transfers to trust accounts, revisedto exclude transfers to the old-age and survivors insurance trust fund, and da+a for the new items under expenditures are shown in table 31, p. 23 of the November 1941 Survey,with the exception of subsequent revisions beginning July 1940 in national defense, unemployment relief and all other expenditures which will appear in a later issue.




1943

June

1941


Octo-ber

Novem-ber

Decem-ber

1942

Janu-ary


FIN AN CE—Continued

PUBLIC FINANCE (FEDERAL)—Con.

Reconstruction Finance Corporation, loans out'standing, end of month :\

Grand totalf thous. of dol._Section 5, as amended, total do. — .

Banks and trust companies, includingreceivers thous. of dol..

Building and loan associations doInsurance companies doMortgage loan companies doRailroads, including receivers doAll other under Section 5 do . .

Emerg. Rel. and Constr. Act, as amended:Self-liquidating projects (including financ-

ing repairs)... thous. of doLFinancing of exports of agricultural sur-

pluses thous. of doL.Financing of agricultural commodities

and livestock thous. of doL.Loans to business enterprises (including

participations) thous. of dol..National defense under the Act of June 25,

1940* thous. of doL.Total, Bank Conservation Act, as amended

thous. of doL.Drainage, levee, irrigation, etc do.Other loans and authorizations! do

SECURITIES ISSUED

(Securities and Exchange Commission)*

Estimated gross proceeds, total mil. of dol . .By types of security:

Bonds, notes, and debentures do.Preferred stock doCommon 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 doState and municipal doForeign Government doNon-profit agencies do.

iSZew corporate security issues:Estimated net proceeds, total- do.

Proposed uses of proceeds:New money, total do.

Plant and equipment __ doWorking capital do ...

Repayment of debt and retirement ofstock, total mil. of dol..

Funded debt-- doOther debt . . d o . .Preferred stock do

Other purposes doProposed 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 doRepayment 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 doRepayment of debt and retirement of

stock mil. of dol..

(Commercial and Financial Chronicle)t

Securities issued, by type of security, total (newcapital and refunding) __ thous. of dol

New capital, total .doDomestic, total _ .do

Corporate, total _doBonds and notes:

Long term do . . .Short term do

Preferred stocks . . .doCommon stocks do

Farm loan and other Government agen-cies thous. of dol..

Municipal, State, etc . . .do . . .Foreign, total do

4,085,264734, 070

65, 8035,630

686198, 926462, 088

937

17, 310

0

352

135, 961

1,940,499

699, 70870, 359

487,004

809

792

142637091

6666343200

139

725715

201, 30696, 48296, 48276, 827

68, 5800

5,0003,247

2,06017, 594

0

2,152,711751, 305

96, 7024,3561,669

176, 579469, 634

2,365

18, 490

47

439

151, 733

306, 243

753, 93978, 62292,025

635

619124

23463

112590

4013158501

229

80

1481271651

40110

1015851

700

882,250520,184519,934•90,917

• 75, 0862,010

10,3873,434

369, 74159, 276

250

2,230,358740, 224

92, 9383,9181,628

177,864461, 567

2,308

18, 291

47

437

150, 462

355, 741

750,17078, 626

136, 361

1,087

1,051324

1175533235

9709165400

114

413110

70581024

54

614, 470300, 739300,339'47,069

'33,8770

9,8253,367

212, 21241,058

400

2,363,687737,864

89, 7873, 5741,551

180,517460, 953

1,482

18,124

47

437

149,603

409, 626

734, 56977, 243

236,174

718

71242

40860

318246

310266430

)

404

18516817

2141981425

5918

41316142

1732424

472,421361, 029361, 029327, 403

323, 8250

1,6031,975

033, 627

0

2,541,142738,058

3,3701,532

182, 787460,813

1,469

18, 085

47

436

147,422

567, 097

731, 97976,962

261,056

457

439145

17225

10343

1285232

510

170

312011

139135

22

C)

2417

7102

6

97427

3511

273, 96264, 84064, 84034,265

22,1400

8,4583, 667

030, 575

0

2,820,257725, 550

85, 3103,2661,389

186, 389447, 771

1,425

17, 737

47

434

142, 618

694, 087

730,07674. 343

435, 365

1,878

1,8204

54

22776812645

1,6511,584

6402

224

916426

12811711

15

7448

238011

672521

44410

34

300,186132, 899132,899103, 661

r 50,0260

2,70050, 935

029, 238

0

2,880,470723, 604

82, 9863,1611,365

187,185447, 510

1,398

17, 671

0

434

145, 654

785, 226

728, 63974,044

405,199

1449

1429128

1407358

18

13091233

7401

137

806020

5737191

(*)

7129

425645

1111

084

4

233, 304108,600108, 60089, 427

82,399575

2,6453,809

019,173

0

2,938,413734,171

79, 8873,161

830186, 483462, 496

1,315

17, 578

0

434

152, 385

784, 396

725, 48272, 814

451,155

2,319

2,2852114

1283952289

2,1922,131

600

C)125

513417

5744

31017

3817

1551

3

372828

093

6

241,732139,136139,136r 76, 793

'•57,1105.000

13, 360T1, 323

19, 52042, 823

0

2,988,673725, 943

69, 4632,897

795189,837461, 792

1,158

17, 527

0

431

148, 591

853,203

719,87372,068

451, 036

1,345

1,2903717

16444

109101

1,1811,061

11802

161

713833

8980

90

(a)

4343

(a)107

18

891010

011

0

333, 238181, 760181, 76087,186

32, 4360

36,88717, 863

11,17583, 399

0

3,166,909729, 730

69,1175,817

752190,490462,426

1,128

17, 515

0

431

146,360

993, 473

715,12172, 051

492, 226

2,335

2, 315190

78393540

2,2572,216

410

(a)

76

3934

5

26122

1111

3811

163425

1044

000

0

179, 606123,099123, 099-•56,709

'37,0950

18, 735458

36, 89029, 922

0

3,361,947734, 696

68, 2655,792

725193, 993464, 842

1,079

17, 452

0

403

142,915

1,191,436

710,02971,859

493,156

709

69316

(a)

1024749

60

607558

4901

100

39354

6141155

( a )

4625

2148

8

4066

000

0

196, 648109,051109, 051'78,585

r 61,0100

15,0402,535

8,86021, 606

0

3,556,094 3,819,280738 384 733 596738, 384

67, 5146,434

714196, 512466,182

1,028

733, 596

66, 4205,817

702197, 401462, 316

939

17,415 I 17,382

0

368

140, 290

1,395,212

0

368

139, 465

1,670,157

702,408 700,69371,168 | 70,464

490, 849 ! 487, 154

708

70142

121110

Uo\0 i

5875315600

118 !|

"0 |15 |55 !

* i12 !3t>0( a )

10759

481111

000

o I0 Io !

2,965

2, 952103

1261042101

2,8392,809

300

)

124

592733

64115301

10249

532110

1100

01

262,148157, 820157, 82097,114

91,0270

4,2651,822

9,72050,986

0

180,031127, 570127, 570103, 092

94,1250

8,9670

2,71521, 764

0r Revised. ^Includes repayments unallocated, pending advices, at end of month . « Less than $500,000.JFor revisions in 1939 data from Commercial and Financial Chronicle, see notes marked "t" on p . 34 of the September 1940 arid p . 35 of the March 1941 Survey.fRevised series. For revisions in data on total loans of the Reconstruction Finance Corporation and "other loans and authorizations" published in the Survey prior to

the October 1940 issue, see note marked "f" on p. S-16 of the February 1942 Survey. Certain comparatively small revisions have been made in the grand total which are notcarried into the detail.

*New series. National defense data include loans, participations, and purchases of capital stock in corporations created by the Reconstruction Finance Corporation toaid in national defense. The new series on new security issues have been substituted for the data on security registrations. Earlier data will be shown in a subsequent issue.

i Excludes offering of $502,983,000 1% Treasury Notes of SeriesA-1946 which were allotted tc holders of Reconstruction Finance Corporation notes of Series P , matur ingNovember 1,1941, and of Commodity Credit Corporation notes of Series E , maturing November 15,1941.

4 7 3 8 1 5 — 4 2 3Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

S-18 SUEVEY OF CUREENT BUSINESS August 1942


1942

June

1941


Octo-ber

Novem-ber

Decem-ber

1942

Janu-ary

Febru-ary March April Mav

FINANCE—Continued

SECURITIES ISSUED—Continued(Commercial and Financial Chronicle)t—Con.

Securities issued, by type of security—Con.Refunding, total thous. of doL_

Domestic, total _ _doCorporate, total _ do

Bonds and notes:Long term. doShort term do

Preferred stocks.._ doCommon stocks- do

Farm loan and other government agen-cies thous. of dol_.

Municipal, State, etc... doCorporate securities issued by type of borrower,

total thous. of dol.-New capital, total do

Industrial doPublic utilities ...doRailroads-. do

Refunding, total .doIndustrial , .doPublic utilities. doRailroads do

Domestic issues for productive uses (Moody's) :*Total _ mil. of dol..

Corporate doMunicipal, State, etc .do

(Bond Buyer)State and municipal issues:

Permanent (long term) thous. of dol _.Temporary (short term) do

COMMODITY MARKETSVolume of trading in grain futures:

Wheat mil. of bu.-Corn do

SECURITY MARKETSBrokers' Balances (N. Y. S. E. members

carrying margin accounts)

Customers' debit balances (net) mil. of dol..Cash on hand and in banks doMoney borrowed doCustomers' free credit balances do

BondsPrices:

Average price of all listed bonds (N. Y. S. E.) |dollars..

Domestic doForeign do

Standard and Poor's Corporation:High grade (15 bonds) t--doJ. per $100 bond..Medium and lower grade:|

Composite (50 bonds) doIndustrials (10 bonds) . . . .doPublic utilities (20 bonds) doRails (20 bonds) do....

Defaulted (15 bonds)t doDomestic municipals (15 bonds) do

U. S. Treasury bondsf do__ .Bales (Securities and Exchange Commission):

Total on all registered exchanges:Market value thous. of dol__Face value do

On New York Stock Exchange:Market value (ioFace value do

Exclusive of stopped sales (N. Y. S, E.),face value, total thous. of dol.

U. S. Government doOther than TJ.S.Govt., t o t a l . , . d o . . . .


Value, issues listed on N . Y. S. E.:Face value, all issues mil. of dol..


Market value, all issues doDomestic doForeign do

Yields:Bond Buyer:

Domestic municipals (20 cities).-.percent...Moody's:

Domestic corporate doBy ratings:

A a a . . . . . . d oAa doA doBaa do

By groups:Industrials doPublic utilities doRails do

104,824104,82461,686

54,9930

4,0002,693

28, 45514,684

138,51376.82750, 47718,4002.800

61,6867,813

49,3600

665511

32, 55974,279

267145

496180309240

95. 5097.2861.72

118.0

Jft. 1107.7103. 583.024.0

123. 3110.7

133, 776407

133,369124, 676

8,694

61, 89958.8043,096

59.11257,' 201

1,911

2.21

3.37

3,0L3.314. 33

2.973.124.03

362,066362.066113,390

108,0870

5,3030

222, 86025, 815

'204, 307'90.917'29, 904

7,58451, 235

113,39021, 88683, 3176,860

1136350

144,80681,995

50453

616186395255

94.8098.6047.79

117.7

99.2103.3106.387.921.6129.5111.5

95, 055173,215

78. 266153, 363

149, 4261,010

148,416135, 17413, 242

56,15951, 9524,207

53,23751, 2272,010

2.07

3.34

2.953.314.31

2.963 103.95

•316,731316,731••86,628

'75,9530

10, 525150

215, 55314, 550

133,698'47,069

4, 06810, 55922, 852

' 86, 62834, 875

' 45,7530

673829

151, 610150, 913

45737

628189

266

95.0498.9247.11

118.7

99.9104.8107.187.823.9

130.4111.7

116,272222, 973

98, 274201, 056

189,1182, 598

18G, 520174,58811,932

56, 04151,8364, 20553,26051,2791,981

2.07

3.30

2.742.903.264.28

2.903.073.92

111,394111,39474,427

72, 5300

1,8970

25, 42011, 547

401, 830327, 40352, 018

238,08523, 30074, 4272,497

71,6250

30328122

48, 269169, 942

53177

628189460262

94.8698.5848.85

118.5 j

99.6104. 9107.386.824.9

131.0111.1

87, 766160, 891

74,506144,101

140,1571.431

138, 726127, 51511,211

56.10151. 9004,20153,21751,1652,052

3.29

2.742.903.24

2.903.063.92

209,122209,122161,391

155, 8810

5,398112

26,95520, 776

195, 65634,26511,5527,9227,060

161, 39122, 782102,09834, 837

472522

65,05253, 669

500103

633196396260

94.7498.2750.79

118.1

98.0105.1107.284.524.4131.2111.1

105, 508177, 029

89, 563155,537

140. 9031,319

139,044127,57522, 009

56, 38752, 1924,19553,41851, 2872,131

2.02

3.30

2.752.913.244.30

2. 883.073.95

167, 287167, 28797,050

96, 2500

8000

34,82235,415

200,711103,66163,178'6,24021,32997,05016, 33674,6584,000

78, 47993,123

45493

628186414255

95.2598.7250.75

118.8

99.2105.3107.285.025.1133.0112.0

125,159209, 219

109,888189,947

] 78. 8991, 307

177. 592163,41314, J79

57, 85653, 6734,18355,10762,9842,123

1.90

3.27

2.732.873.214.28

2.853.053.93

124, 703124, 70342,384

29, 3360

13,0490

31,67550,644

131,81189, 42743. 57840, 6871,210

42, 38416,89021, 841

0

614318

60. 722113,655

28274

625195409264

94.8098.3049.83

119.2

99.4105. 9107.484.924.8133. 4112.4

88, 348161,048

76. 382145, 446

140. 7461, 470

139,270125,69413, 582

57,82153, 6464,175

54. 81352, 7322,080

1.93

3. 26

2.72

2.863.194.28

2.853.043.91

102, 596102, 596'59,062

r 57, 2830

1,7340

25,10018, 435

135, 854'76,793'34,224'8.89327, 745

'59,06216, 880

'38,3460

713437

90, 57899,988

29489

600211368

94.50

56.27

117.5

97.4105.0104.782.421.9125.9110.7

134,712277,038

116,561251, 650

224, 7371, 781

222, 95520c, 25117, 705

58, 23755, 0803,157

55, 03453.2571,777

2.24

3.35

2. SO2.953.274.38

2.943.12

151,478151, 47882,846

81, 7260

1,1200

33, 77534, 857

170, 03287,18646,15028,1019,890

82, 846499

82,1200

1376770

118,505119,070

253154

547219

95.2497.3158.45

117. 5

99.2106. 7104.186.924.1

124. 4110. 1

125, 744256, 089

111,586237, 263

219, 9551, IBS

218,817206, 14512,672

59, 07G55, 9243, 15256, 26154,4191,842

2.36

3.35

2.832.963. 304.29

2.973.133.93

56,508

18,901

18,901000

26,58011,027

'75,609'56,70924,06725,9703,75018, 90112, 6266,275

0

473314

46, 57738,277

14077

534203307262

95.1397.1857.40

117.1

99.6106.9104.487.725.6120.1108.9

78,643165, 002

357944413551862

87,597 104,32887,597 104,32839, 209 18, 527

39, 209000

21,31527,073

117,794'78,585'46,31824,0725, 660

39, 2096,000

32, 2360

78 |5820

51,260183,744 I

178111

531195306249

95. 97 95. 6397.98 ! 97.5458.95 I 60.29

18, 527000

80. 5405, 261

115. 64197,11496, 010

6040

18,52712,9775, 550

0

501040

61,358113,745

52, 46152,4615,807

5. 807000

38.8007,855

108.898103,09275, 96715,125

05,807

05, 275

0

352015

' 28, 69756.916

226

515195300247

~>Q2177300238

116.7

98.8106.1101.888.627.6119.7110.2

117.8 ii

99.3 I107. 1 i102.3 i88.4 i26.7 |122.1 |110.5

95. 6497. 4661. 10

117.7

9S.9107. 4102.2$7.126.4

122. 1110.7

89,449 137,003 [ 99,075178,409 306,812 202,862

157,148.8,

60,57,

3,5'55,1

121.066286, 211

263, 055879

262,176249,19212,984

91,838179,090

86,629 SO,772186,165 11)5,276

174,011545

156.658' 953

173,407 15o.705162,311 138.59711,156

532411 !12158493

791

60,579 I 60,572f.,7 A 71 Z7 dP>f\

2.51

I3.35 I

2.852.983.29 !4.29 |

2.98 !3.153.94

,43,108

58,14056, 3081,832

2.38

3.37

2.863.003.324.30

3.003.173.94

57,4663,105

57, 92456, 0511,872

2.33

3.34

2.832.983.304.26

2 963.133.95

17, 109

fi 1.95658,8523,105

59. 25857; 3591,899

2. bo3.003.314.27

2. 973.133.97

* Revised. {See note marked 4' t " on p. S-17.tRevised series For data beginning 1931 on Treasury bond prices, which relate to partially tax-exempt bonds, see table 55, p . 17 of the December 1940 SURVEY. Earlier

data for Standard and Poor's bond prices are shown in table 36, p . 19 of the January 1942 SURVEY.•New series. For data on domestic issues for productive uses beginning 1921, see table 34, p. 17 of the September 1940 SURVEY.




1942

June

1941


Octo-ber

Novem-ber

Decem-ber

1942

Janu-ary


FINANCE—Continued

SECURITY MARKETS—ContinuedBonds—Continued

Yields—Continued.Standard and Poor's Corporation:

Domestic municipals (15 bonds)—.percent..U. S. Treasury bonds* do

Stocks

Cash dividend payments and rates (Moody's):Total annual payments at current rates (600

companies)... mil. of dol..Number of shares, adjusted millions..Dividend rate per share (weighted average)

(600 cos.) dollars..Banks (21 cos.) doIndustrials (492 cos.). do . , . .Insurance (21 cos.) doPublic utilities (30 cos.).. d o . . . .Rails (36 cos.). do

Prices:Average price of all listed shares (N. Y. S. E.)

Dec. 31, 1924=100...Dow-Jones & Co., Inc. (65 stocks)

dol. per share..Industrials (30 stocks) doPublic utilities (15 stocks)-. .doRails (20 stocks) do

New York Times (50 stocks) doIndustrials (25 stocks)... _ doRailroads (25 stocks) . . .do

Standard and Poor's Corporation:!Combined index (402 stocks).1935-39=100...

Industrials (354 stocks) doCapital goods (116 stocks) doConsumer's goods (191 stocks) do

Public utilities (28 stocks) doRails (20 stocks) do

Other issues:Banks, N. Y. C. (19 stocks) do . . . .Fire and marine insurance (18 stocks)

1935-39=100..Sales (Securities and Exchange Commission):

Total on all registered exchanges:Market value thous. of dol..Shares sold thousands..

On New York Stock Exchange:Market value thous. of dol..Shares sold thousands..

Exclusive of odd lot and stopped sales(N. Y. Times) thousands.

Shares listed, N. Y. S. E.:Market value, all listed shares mil. of dol..Number of shares listed. millions..

Yields:Common stocks (200), Moody's percent..

Banks (15 stocks) doIndustrials (125 stocks) . . .doInsurance (10 stocks) doPublic utilities (25 stocks) _do.._.Rails (25 stocks) do . . . .

Preferred stocks, high-grade (15 stocks),Standard and Poor's Corp.f percent..

Stockholders (Common Stock)

American Tel. & Tel. Co., total number..Foreign do

Pennsylvania R. R. Co., total doForeign do

U. S. Steel Corporation, total doForeign doShares held by brokers percent of total..

2.381.97

1, 675.01

1.792.811.762.691.741.66

45.3

34.20103. 7511.9323.5971.07125.0517.10

66.168.269.067.658.859.0

66.3

97.2

7,466

33,4191,470

5.66.44.88.47.8

4.40

639,1525,214

205, 2591,374

164,0392,58024.90

2.081.91

, 823.85938.08

1.943.011.932.591.951.57

54.0

40.95121. 5717.6128.1188.29156.0920.48

79.579.783.976.781.670.9

84.6

105.9

411,01218,052

350,14613, 740

10,451

39, 6081,463

6.14.56.24.26.56.4

4.15

630,9565,609

206,0501,581

164,7852,60525.30

2.031.90

1,821.08

1.943.011.932.591.921.56

56.7

43.01127. 5718.4829.6092.24162. 5721.92

83.284.288.480.281.873.8

89.0

111.9

611,46429,073

522,47522, 226

17,871

41, 6541,463

5.84.55.84.06.45.9

4.05

2.001.94

1,822.61

1.943.011.932.591.921.56

56.5

42.99126.6718.5030.1991.32160.3322.36

83.284.388.081.281.074.4

88.4

115.4

415,08822,087

346,22715,858

10,875

41,4721,464

5.94.65.93.96.46.0

4.02

1.991.94

, 828.35938.08

1.953.011.942.591.911.58

55.9

42.90127.3518.6229.2890.91160.0821.74

83.684.887.882.981.372.6

87.6

115.6

512, 75024, 682

426,83918,021

13, 545

40,9841,463

5.94.65.93.96.56.3

1.04

632,2935,481

205,7241,535

164,2622,59025.00

1.911.88

, 840.31938.08

1.962.991.972.621.861.58

53.2

41.26121.1817.6528.5487.37153.7121.04

80.481.682.279.078.570.3

84.9

114.0

493, 76024, 724

413, 34118, 512

13,137

39,0571,465

6.35.06.44.16.66.5

4.07

1,889.13 1,927.69938.08 938.08

1.901.85

2.013.002.052.621.821.58

51.6

39.53116.9115.9327.9287.92145.6620.19

77.478.678.774.274.568.4

78.5

111.5

509,04026, 636

422,42319,099

15,052

37,8821,464

5.2

4.16.9

4.11

2.251.97

2.052.882.092.691.811.77

48.7

36.92110.6714.3825.3379.17139.8618.47

71.873.876.367.666.261.0

72.1

106.1

1,085,59962, 676

929,04646,891

36, 387

35, 7861,463

7.35.47.34.57.68.2

4.15

633, 5885,281

205,0121,447

163,7322,58425.40

2.332.01

L, 926. 59938.08

2.052.882.092.691.811.77

49.2

37.86111.1114.4128.0177.09133.7720.41

72.674.378.668.866.169.0

73.8

107.6

512, 50328,359

466, 93222,236

12,994

36,2281,467

7.25.37.44.57.67.2

4.21

1,857.45 1,850.15938.08

1.982.881.992.691.811.77

2.552.09

47.8

36.79107. 2813.8327.8574.46128. 6720.26

71.074.866.264.568.4

70.9

101.7

296, 40814,018

251,18710,610

7,926

35,2341,467

7.15.67.24.67.77.4

4.24

2.582.00

938.03

1.972.811.982.691.801.77

44.5

34.54101. 6212.1526.0969.17119. 6518.69

66.067.270.863.960.565.0

62.6

95.9

341, 23016, 391

287, 78512, 175

8,580

32,8441, 469

7.76.07.75.0S.58.2

637, 0205,230

205, 3041,409

164. 0132, 59624.90

2.441.98

1, 805. 62938. OS

1.922.811.932.691.771.77

42.6

32.9297.7911.0624. 5667. 52117.4517.59

63.364.867.861.856.561.1

60.4

89.5

272,88913,613

226,18710, 079

31, 4491,469

7.86.17.75.38.98.3

4. 52

2.451.97

, 701. 40938.08

1.812.811. 792.691.751.66

44.6

33.1298.4211.6824.2968.30119. 2517. 35

63.264.766.362.957.260.3

62.5

90.6

265,45512,625

226,1029, 685

7, 229

32, 9141,469

6.95.76.74.98.27.8

FOREIGN TRADE

INDEXES•Exports of U. S. merchandise:

Quantity 1923-25= 100...Value doUnit value do

Imports for consumption:Quantity doValue doUnit value do

VALUE •

Exports, total incl. reexports thous. of doL-Exports of U. S. merchandise do

General imports doImports for consumption do

1228771

1308263

329, 776323, 728279, 536261,097

1349571

1328363

358, 649348, 890277, 847264, 685

15911975

1358664

455, 257438, 264282, 513273, 898

14711176

1288365

417,139406,057262, 680265, 162

1666, 376

20418590

70

681,979674,282234,122 I222,913 ;

r Revised. X Partially tax-exempt bonds.i Figure overstated owing to inclusion in October export statistics of an unusually large volume of shipments actually exported in earlier months.•The publication of detailed foreign trsde statistics has been discontinued for the duration of the war, effective with October data. Indexes of the volume of foreign trade in

agricultural products and data on the value of exports and imports by grand divisions and countries and by economic classes, which have been shown regularly in the Survey,are available through September 1941 in the February 1942 and earlier issues. For revised 1939 data on value of foreign trade see pp. 17 and 18 of the April 1941 issue.

fRevised series. Earlier revised data for Standard and Poor's stock prices and preferred stock yields are shown, respectively, in table 37, pp. 20-21 and table 39, p. 22of the January 1942 Survey.Digitized for FRASER


S-20 SUKVEY OF CURRENT BUSINESS August 1942


1942

June

1941


Octo-ber

Novem-ber

Decem-ber

1942

Janu-ary


TRANSPORTATION AND COMMUNICATIONS

TRANSPORTATIONExpress Operations

Operating revenue thous. of dol__Operating income do

Local Transit LinesFares, average, cash ratef centsPassengers carriedt .thousands..Operating revenues thous. of dol._

Class I Steam RailwaysFreight carloadings (Federal Reserve indexes) :t

Combined index, unadjusted. . 1935-39=100..Coal doCoke doForest products doGrains and grain products doLivestock doMerchandise, 1. c. 1 do . . .Ore doMiscellaneous do

Combined index, adjusted doCoal doCoke do. . .Forest products doGrains and grain products doLivestock doMerchandise, 1. c. 1 doOre doMiscellaneous do

Freight-car loadings (A. A. R.):fTotal cars thousands .

Coal doCoke do....Forest products doGrains and grain products doLivestock doMerchandise, 1. c. 1 doOre doMiscellaneous do

Freight-car surplus, totalj.--. doBox carst doCoal carst do... -

Financial operations:Operating revenues, total thous. of doL

Freight do...Passenger do

Operating expenses doTaxes, joint facility and equip, rents*.-doNet railway operating income doNet income doOperating results:

Freight carried 1 mile mil. of tons..Revenue per ton-mile cents._Passengers carried 1 mile millions..

Financial operations, adjusted:*Operating revenues, total mil. of dol

Freight doPassenger do

Railway expenses . doNet railway operating income do....Net income do...

Waterway TrafficCanals:

New York State thous. of short tons .Panama, total thous. of long tons

In U. S. vessels doSt. Lawrence thous. of short tons.Sault Ste. Marie do...Welland do...

Rivers:Allegheny doMississippi (Government barges only) .doMonongahela doOhio (Pittsburgh district) do . .

Clearances, vessels in foreign trade:Total, U. S. ports thous. of net tons.

Foreign doUnited States do.. .

Travel

Operations on scheduled air lines:Miles flown... thous. of miles..Express carried .pounds..Passengers carried number..Passenger-miles flown.. thous. of miles..

Hotels:Average sale per occupied room dollars..Rooms occupied percent of total..Restaurant sales index 1929=100-.

Foreign travel:U. S. citizens, arrivals number..U. S. citizens, departures doEmigrants doImmigrants _ ..doPassports issued d* do

7. 80601,015,722

139135179165111816031814514116019915911310360183144

3,3866615720415445378359

1, 52882559

623,687501, 34382, 268378,472126,484118, 73177, 700

462

225

3.4371128

16, C

10, 83974

7.8144809, 34058. 873

1361311701411236910126514113915618913612688102152139

3,5106425417517239

638301

1,490713417

455,023377, 53444,832298, 932' 62, 774*• 93. 31652, 800

44,036.927

2,564

473. 5398.243.3

363.4110.167.8

6241,585887

1,00114, 6731.895

320250

2,8331,785

6,0743,9572,117

11,472,544,111380,990141,906

3.3066107

13, 20317, 2771,6766,0024,878

10,87478

7. 8144792. 53957,839

138127172149163709928313913815020014911283100156140

3,4135785317423038

603313

1,425672720

485, 446405, 50347. 402

310,03569,097106.31563, 528

46,067.947

2,756

470.9395.142.3

370.5100.457.3

7201,659910

1.04315, 5111,960

330270

2,8621,781

6.7164,5842,132

12.1541,822,217398,434147,419

3.2964103

13, 49110, 739

8533,0835,673

10, 926

7.8144793, 57058, 463

14013916716012580992711411391581991521038499155141

4, 46484066

24822455

784386

1,861471911

493, 674410,21349. 773313,84368, 513111.31865, 500

49, 237.902

2,936

485.4407.744.4

374.4111.065.2

5571,366818975

15, 2351,858

352265

3, 1051,771

6,6464.4182,229

12,4721,842.858447,316158,068

3.5668115

14,61313,718

7293,3595,734

11,94278

7. 8005828, 57659, 865

1451401721491221111022611501301331761381118497149135

3,5396525217616759

618286

1,529411510

488, 979411,24143. 521

312, 28772, 622104,07059, 324

47, 616.9282,527

464.1389.541.6

379.484.742. 1

5071.481719944

14. 4011,620

326211

2,4921,691

6,0113, 9782,033

12,1271,962,284455,647158,151

3.5269

••108

11,32811,807

6123,9114,687

12,143101

7. 8005895, 99164, 603

144138165147104146101232151

121165140979597178133

3.6586755318414982

641271

1, 603421810

517, 605440,12242, 231

361, 50262, 44693, 65753, 676

51,135.922

2,397

452.6375.944.1

403.249.410.5

7001,719882948

13, 9231,688

332251

2,8631,759

6,0724,0402,031

12, 200[, 760,770420, 393150,920

3.5571108

11,6689,942714

2,1884,331

11,90495

7. 8005856, 77361, 671

1411351681431151171011991501351211591461189399204144

4,31879064

21419482768277

1,929612818

457.012385, 24140, 519

335, 61452, 63368, 76529, 226

46, 032.9042,299

476.0398.745.1

403.172.933.1

5341,546818774

12, 2231,466

230240

2,2061,374

C)()

11,5011,689,093324,546115,825

3.6169114

8,9918,748

9452,2565,177

14, 051131

7. 8005941,92468,133

128125182129113

69138137111167145124101100246149

3,0465755415315553

58277

1,396752732

479, 560389, 22353, 868

352, 53246, 48080, 54955, 492

44, 545.943

3,055

486.2403.249.4

409.876.436.6

01,28353836

2,137369

244119

2,9921,711

10,855,385,786298,680111, 077

3.3961103

10, 79911, 339

6862,5814,549

11,80979

7. 8005946,31568, 637

1291361841401259593461341401191531561429997186152

3,85879771

20821265

71165

1,729002222

480,691392,57155,697

348, 78162,94468.96626, 130

46, 666.914

3,078

495. 3406.653.6

413.182.340.0

000

17781

2. 7531.453

11.1272,531,162300, 900113,135

3.4071107

9,4567,871

4081,9545,145

11, 582

7. 8033885,12865, 004

12913218415311076964713513911615015913195100187151

3.12362957

1851544259752

1,407592220

462, 486377, 59354, 746

327, 65368, 34766, 48623,716

44,109.926

2,895

518.9423.960.1

420.398.657.7

000

16765

2,7621,410

2,169,543286, 435104, 220

3.3970101

6,7235,754

4481,924

'6,020 j

11.976

7. 80331,003,196

72, 561

1291251751491027792731391361221681491199792282143

3,1716105518414643

58472

1,477582317

540,118445, 49059,106360, 01187, 74992, 35946, 888

51, 853.9243,070

541. 7443.063.0445.796.152.4

100

11,3522,560,255371,398139, 061

3.3070100

8,74510, 222

5321, 560

' 6, 881

12, 13479

7. 80601.004,698

' 72, 668

136135176159100

9081

218142143160200159117101

80267141

3,351645

56196141

50525235

1,503562812

572, 531468, 00766,116

366, 756103,741102,034

57, 900r 53,631

.9373,427

584.2474. 871.3

471. 5112.770.3

7. 80601,034,361

75,512

138139181161

998962

30314414316419?155115

9862

289142

4, 171830

70245174

62492420

1,878704210

601,002487, 982

74, 345375, 440115,933109, 628

63, 600

617.8499.481.0

486.5131.2

201

38610,2161,025

206

11,340!, 883,891428,153158, 218

3.6471

121

6,807462

1,699' 7, 855

78415,8831,516

3.2672

121

7,56911,145

3891,6737,791

f Revised. T Data for August and November 1941, January and May 1942 are for 5 weeks; other months, 4 weeks.•New series. Adjusted data on financial operations of railways beginning 1921 appear in table 33, p. 16 of the September 1940 issue. The new series on taxes and joint

facility and equipment rents is shown to provide figures for obtaining total railway expenses as given in the adjusted figures of financial operations.fRevised series. Data on fares revised beginning August 1936; see p. 45 of the July 1940 Survey. Passengers carried revised to cover data for 188 companies. Data for

1940 on the revised basis differ only slightly from those shown in table 13, p. 8 of the March 1941 Survey. Revised indexes of freight carloadings beginning 1919 appear in table23, pp. 21-22 of the August 1941 Survey.

JData represent daily average for week ended on the last Saturday of the month. ° Data have been discontinued for the duration of the war.cfBeginning Feb. 1942 data include passports issued to American seamen.




1942

June

1941


Octo-ber

Novem-ber

Decem-ber

1942

April May

TRANSPORTATION AND COMMUNICATIONS—Continued

TRANSPOETATION-ContinuedTravel—Continued

National parks:Visitors number.Automobiles do

Pullman Co.:Revenue passenger-miles -.thousands..Passenger revenues... thous. of doL..

COMMUNICAT1ONSTelephone carriers:

Operating revenues thous. of doL .Station revenues doTolls, message._ .do

Operating expenses doNet operating income doPhones in service, end of month.thousands..

Telegraph and cable carriers:!Operating revenues, totalf thous. of dol_.

Telegraph carriers, total doWestern Union Telegraph Co., revenues

from cable operations thous. of doL.Cable carriers do

Operating expensesf doOperating incomef doNet incomef do . . .

Radiotelegraph carriers, operating revenuesthous. of dol.

221,69767,454

578,071173,139

897,6145,145

120,11375, 52435,07276, 62621,03720,443

12, 72811,731

99710,516

637267

1,337

1,029,648292, 273

825,8394,880

120,11674,85835, 54380,32918, 55420, 535

12, 87511,734

5511,141

10, 965966513

1.386

1,112,293302,025

850,3485,074

119,22474,23635,26677, 93419, 55320,657

12, 67411,616

4991,058

10, 7581,065

1,264

430, 608132, 359

797.4084,857

121,25976,47035.02979,15920,47720,817

12,55511,461

5181,094

10,830782401

1, 205

253, 48978,112

840, 9255,138

124,00078,70035, 36882,05220,16520,954

12, 56611,493

5531,07310,809

784316

129,89039, 383

763. 6244,776

119,81877,29232,52679, 65119, 64521,067

11,58310,436

5331,14710,276

300

1,316 I 1,197

59,81218,152

1,017,6165,608

128, 99380,22937, 78287, 30732, 53221,206

15,44814,089

7341,359

12,0032,2151,488

1,442

60,76717,477

1,273,8226.929

128,25779,97437,44182,93521,16621,362

12, 73211,563

6201,169

11,054585

61

1,163

59,33816,821

1,208,1626,421

123,86077, 77134,96179, 41421,30721,481

11,69710, 724

565972

10, 246465

' 6 5

1,092

60, 80817, 760

1,288,8586,935

130,34779,69839, 47184,36521,64721, 595

13,07411, 940

6631,134

10,889918480

915

94,19228,203

1,380,2557,784

131, 72780,26440,20784, 37221, 59621, 702

13, 58712, 553

6611,035

11,1881,088

572

1.032

137,18741,196

1,445,5068,092

133,07680,07041,61685,65522, 26421, 815

13,87712,824.

6581,053

11, 639905380

1,108

CHEMICALS AND ALLIED PRODUCTS

CHEMICALSAlcohol, denatured:

Consumption-__ thous. of wine galProduction . do._Stocks, end of month do

Alcohol, ethyl:Production -thous. of proof gal..Stocks, warehoused, end of month doWithdrawn for denaturing. doWithdrawn, tax-paid _do

Methanol:Exports, refined. -gallons..Price, refined, wholesale:

Natural (N. Y.)cf- — __dol. per gal..Synthetic, pure, f. o. b. works* do

Production;Crude (wood distilled) thous. of gal..Synthetic.- _*_ do

Explosives, shipments ...thous. of lb_.Sulphur production (quarterly):

Louisiana ...long tons..Texas do

Sulfuric acid :1Price, wholesale, 66°, at works

dol. per short ton.FERTILIZERS

Consumption, Southern Statesthous. of short tens..

Exports, total§ _ long tons..Nitrogenous§ _.i.doPhosphate materials!. _ doPrepared fertilizers. do

Imports, total§.. doNitrogenous, total do

Nitrate of soda doPhosphates. doPotash § do

Price, wholesale, nitrate of soda, c. i. f.ports* _.dol. per cwt._

Potash deliveries short tons..Superphosphate (bulk).

Production doShipments to consumers. _doStocks, end of month do

.58

42,101

163,810

16.50

NAVAL STORESRosin, gum:

Price, wholesale "HM (Savannah), bulkfdol. per 100 lb..

Receipts, net, 3 ports bbl. (500 lb.)Stocks, 3 ports, end of month do

Turpentine, gum, spirits of:Price, wholesale (Savannah) dol. per gal._Receipts, net, 3 ports bbl. (50 gal.).Stocks, 3 ports, end of month do..

OILS, FATS, AND BYPRODUCTSAnimal, including fish oils (quarterly):%

Animal fats:Consumption, factory thous. of lbProduction _do ..Stocks, end of quarter.. do . . .

Greases:Consumption, factory ...doProduction doStocks, end of quarter do ._

1.650

2.95

.63

379, 256699, 673365,870

135, 020141,187102,044

15, 61415,6781,095

32, 22410. 39227, 8303,224

16, 668

.39

.30

4364,66339, 460

130,090577,384

16.50

10466, 65111,68848, 2652.311

74, 43962,84027,341

3038.307

1.47058, 228

373, 86468. 813808, 741

1.8831.069483, 751

.4210,06431,978

336, 766644,068684,677

126,164128,065116,476

15,03515, 242

1,293

33. 0217,108

27, 5642,838

21,fiO5

.44 i

.30

4174,725

41.273

58164, 69515. 675141,557

20133, 63832. 59116,350

253

1.47041,094

383, 49952,317914,302

2.1333, 706461,157

.478,48235, 617

15, 26415,0651,089

34,29910,11727, 3273,071

7,545

.44

.30

4505.006

41,363

16. 50

71295, 88517, 783

270.646407

69, 09667. 40632,148

45720

r 1. 65048,882

379, 26765,150978,014

2.4529, 886428,945

.6710,06634, 339

17, 10016. 908

861

35.7576,49130.4333,435

9,340

.44

.29

4875. 085

43,676

129,365670,063

16. 50

134136, 50313,196105,9192,879

118,13910R. 75967.594

7805, 951

' 1. 65039,943

364, 505130.9061,022,410

2.4929, 282

419,979

.7610, 75536, 669

18,30218,185

740

36. 3937,143

32, 6042, 555

C)

5025,416

42.629

168

338. 647585, 293504,968

121,155124,006103,068

()

' 1. 65056, 039

413,240129, 2931,051,966

2.4424, 526

372, 983

.7810,94226, 389

16, 97716, 965

724

37.5418.03830.3712. 505

.54

.28

5295, 104

37, 486

COCOCO

.58

.28

5575, 663

38, 879

135, 285802, 576

.58 ; .58.28

186

1650

267

)36,720 37, 681

.58

.28

16.50

1,030

16.50 I

1,003

36,453

110,115725, 579

16. 50

1,060

n. 65053,646

419,94687, 581

1,050,633

2.6434, 516297,168

.765,99918,955

1.65059,897

487. 55880,113

1.049,268

'1.65057,113

487,16477, 725

r 1. 65051, 402

457, 302146,846

1,082,860 hoi 7.847

3.2219,862

257, 926

.761,127

20. 496

2.8934, 637

270, 383

.7312, 23115, 676

3.1630,214

269,496

.766,357

26, 594

350, 722761, 446461, 497

118,673140,991105,815

r 1. 65056,386

480,018204, 855911,507

3.063,733

250,110

.73784

16, 675

395, 967776, 542445,114

125,047140,105100,330

.58

.28

41,045

16.50

678

r 1. 65044,994

431,634254,239730,135

2.8916,353

239,817

.654,550

17,010

.58

40, 545

287

' 1.65029, 714

440,685147,473760, 761

2.82

.61

• Deficit. §Data revised for 1939; for exports, see table 14, p . 17, and for impor ts , table 15, p . 18, of the Apri l 1941 Survey.• Publ ica t ion of detailed foreign t rade statistics has been discont inued for the dura t ion of the war .» D a t a are no longer available for publication. {Revisions for quar ters of 1940 not shown in the December 1941 Survey will be shown in a subsequen t issue.I T h e compila t ion of da t a on consumpt ion, product ion, purchases, sh ipments , and stocks of sulfuric acid b y fertilizer manufacturers formerly publ ished in t h e S u r v e y

has been discont inued. T h e Bureau of the Census is now collecting similar information from all producers of sulfuric acid; these da ta are available beginning September 1941.t Revised series. D a t a for te legraph and cable carriers revised beginning 1934, see table 48, p . 16, of the November 1940 Survey . Wholesale price of gum rosin revised begin-

ning 1919; see table 3, p . 17 of the J a n u a r y 1941 Survey .*New series. D a t a beginning 1926 for price of synthe t ic , refined methano l will be shown in a subsequent issue, cf Former ly designated "refined ( N . Y . ) . "• Former ly designated "95 percent (N . Y . ) . " The re has been no change in the series.


3-22 SURVEY OF CURRENT BUSINESS August 1942


1942

June

1941


Octo-ber

Novem-ber

Decem-ber

1942

Janu- Febru-ary I ary March April May

CHEMICALS AND ALLIED PRODUCTS—Continued

OILS, FATS, AND BYPRODUCTS—Con.

Animal, including fish oils, quarterly t--C on.Fish oils:

Consumption, factory thous. of lb._Production doStocks, end of quarter _ do

'Vegetable oils, total:Consumption, crude, factory (quarterly)!

mil of 1hExports... .Imports total S

Paint oils tAll other vegetable oils t

Production (quarterlv)!Stocks, end of quarter- J

CrudeRefined

...thous. of lb._dododo

mil of lb

dod o

Copra:Consumption, factory (quarterly)i.short tons.Imports dr»Stocks end of quarter !

Coconut or copra oil:Consumption, factory:

Tiffin pel fouaxfprlv) tIn oleomargarine

Tm ports SProduction (quarterly): t

CrudeRefined

Stocks, end of quarter: tCrude

Cottonseed:Consumption (crush)__ thousReceipts at mills._Stocks at mills, end of month

Cottonseed cake and meal:Exports 5ProductionStocks at mills, end of month.

Cottonseed oil, crude:ProductionStocks, end of month

do

dododo

dodo

dodo

. of short tons,.do.. .do

short tons. . - do

do.. .

. ..thous. of lb .do _

Cottonseed oil, refined:

In oleomargarinePrice, wholesale, summer,

(N. Y.I .Production _. ._Stocks, end of month

Flnxseed:ImportsMinneapolis:

ReceiptsShipmentsStocks

Duluth:ReceiptsShipmentsStocks

Oil mills (quarterly):Consumption t

. . : do . . . .yellow, prime

dol. per lb...thous. of lb

do . .

thous of bu

do.. . .dodo—.

do. . . .dodo -.

do

Prioe, wholesale. No. 1 (Mpls.).-dol. per bu..Production (crop estimate") thous. of bu._

Linseed cake and meal:Exports^ thon<! of lhShipments from Minneapolis.

Linseed oil:Consumption, factorv (quartePrice, wholesale (N. Y.)Production (quarterly)Shipments from MinneapolisStocks at factory, end of quart

Soybeans:"Consumption (quarterly)Price, wholesale, No. 2, yellow

Production (crop estimate)...Stocks end of quarter

Soybean oil:*Consiimj)tion, refined (quarto

Price, wholesale, refined, dom

Production (quarterly):CrudeRefined

Stocks, end of quarter:CrudeRefined

do . .

rly)! do . . .-..dol. per lb

...thous. of lb. .

. do-. . .er! d o

.thous. of bu..(Chicago)dol. per bu..

..thous. of bu__do

?rly)thous. of lb

estic (N. Y.)dol. perlb. .

thous oflbdo

dod o

Oleomargarine:Consumption (tax-paid withdrawals)©.doPrice, wholesale, standard, uncolored (Chi-

cago) ,- dol. Der lbProduction© - ._.thous. of 3b._

42, 79811 713

160,540

743

710

761521

14, 611

35. 08512 995

17,74013 512

126 08710 017

8827

116

38, 269250, 715

27, 53451, 291

?32 482

.13852, 807

369, 745

633130826

129233423

12, 5263 965

2. 542 41, 592

23, 440

151.183.139

241,01522,100

225, 615

18, 497

1.72

11,624

123, 400

.135

167, 945147 269

78 71976, 098

. 150

r 54, 567r 8,157

'•123,663

1,02711,43753, 0878,596

44, 491762

* 662r 501

64,55024,94328,109

'184,122r 68, 973

1,43526,884

81,05490, 962

r 176, 39115,064

12144

190

11452, 976

224. 275

42, 97851, 961

402, 72010, 816

.11576, 620

372, 756

866

805185

1,885

165310236

9,3863,5011.87

39222, 360

143,232.108

183, 30921,050

151. 035

r 15, 830

1.39

8. 481

104, 740

.114

141,180126 301

r 34.823r 40, 606

25, 719

.13325.089

4,72969 61513, 32256 293

17 259

2,47430 973

7919

131

135,503

164, 444

26, 28829, 708

11,413

.11849, 627

294,005

1,051

722161

1,107

219207247

1.92

90729, 280

.113

~~24~3<J6~

1.50

.120

25,909

.14027,365

7,18594,756

7,12087, 636

25,487

2,42146, 369

107105129

5346,186

131,618

33, 77932,107

10,131

.11932, 828

234, 242

1,139

8,323297

3,864

348109485

1.89

91432,120

.112

~~21~506~

1.57

.114

25,174

.14024,803

50, 01883,140

162, 659

7887,428

93,2215,767

87,453723

700300

56, 40333, 76636,413

187, 30273, 9833,574

44, 695

70,44493, 710

186, 29016, 994

4191,040

749

102180, 929174, 385

129, 49979, 584

317, 27312, 525

.13663, 536

178, 724

1,853

3,682412

4,773

1,252319

1,418

12,17512, 385

1.99

1,74045,840

141, 913.114

236, 74421,900

161,255

13,175

1.83

690

90, 803

.124

115,68696,951

29,66636,120

33,095

.14033,124

(b)

(6)

4,680

6691,2641,344

( b )

294, 821291,815

208, 538133, 228

13, 708

.129143, 761203, 544

1,777120

4,714

1,000481

1,937

1.87

37,400

.108

21, 350

1.58

.125

33,932

.14034,060

4,198

586679

1,437

255, 608356, 670

178, 276159, 259

14, 650

.124142, 251273, 448

74267

4,443

192438

1,691

1.84

34,360

.101

15, 750

1.60

.121

32,147

.14032, 503

54,51381, 685

189, 916

1,106

1,205

902450

64,993

33, 789

184,73779,0284,153

80,36697,464

178, 46316, 248

505361

1,293

222, 533380, 366

154,450169, 998

287,06114,129

.131136,112314, 330

662101

3,897

180467

1,404

13,06512, 557

2.00»31,485

53, 760

146,147.108

251, 72317,950

198, 579

19,232

1.67106,71219,431

98,205

.126

177, 217108,850

68,45041,846

33,754

.14534,638

2,146

474218

1,037

206, 817370,564

146. 676181, 533

14, 427

.137119,457322, 972

1,292311

3,430

1736

1,386

2.23

51, 840

.113

22, 000

1.83

.132

35, 848

. 15435, 071

728

413144768

176,833372,208

128,843170,913

14,738

.139130,622351,683

704141

3,105

3249

1,067

2.33

37,640

.119

22,250

1.95

.135

31,767

.15332, 541

1

50,1767,128

171, 398

1,048

1,018

895513

36,158

(a)

113 64349, 437

481

45, 39265,072

135, 79015,131

31752

503

139,742338, 711

101, 526137,975

292 88213,837

.140127,442389,010

708154

2,634

546

1,026

13, 4258 477

2.60

34, 400

153, 620.133

258 72022, 400

235, 897

20, 500

1.86

19 007

118,285

.135

188 805151 998

86 23156 639

29, 721

.15030, 768

136

22422

301

97,180311,403

72, 671105, 714

11, 883

mi.140100,548

402, 540

490144

2,120

4105925

2.62

28,880

.141

23, 600

1.83

.135

26, 759

.15028,641

(0

14421

177

62, 361286,844

47,05880,989

10,235

.14171, 502

394, 580

58590

1,078

56455527

2.58

25,840

.141

30, 000

1.80

.135

23,079

.15027,600

• Not shown separately. 1 Dec. 1 estimate. 2 .July 1 estimate. b Publication of detailed foreign trade statistics has been discontinued for the duration of the war.§Data revised for 1939; for exports, see table 14, p. 17, and for imports, table 15, p. 18, of the April 1941 Survey. c Less than 500 pounds.{Revisions for quarters of 1940 not shown in the December 1941 Survey will be shown in a subsequent issue.*New series. Earlier data for the series on soybeans and soybean oil will be shown in a subsequent issue.tRevised series. The series on imports of paint oils and all other vegetable oils have been revised to exclude data for oiticica oil from "all other" where they have been

included and include them with paint oils. Earlier data are available on request. The revision does not affect the total imports of vegetable oils.©Data revised beginning July 1939, see note marked " t" on p. 40 of the April 1941 Survey,Digitized for FRASER




1942

June

1941


Octo-ber

Novem-ber

Decem-ber

1942

Janu-ary


CHEMICALS AND ALLIED PRODUCTS—Continued

OILS, FATS, AND BYPRODUCTS- Con.Shortenings and compounds:

Production thous of lb.Stocks, end of quarter. do. . .Vegetable, price, wholesale, tierces (Chicago)

PAINT SALES dol.perlb.Calcimines, plastic and cold-water paints:

Calcimines thous. of doLPlastic paints.. do.._Cold-water paints:

In dry form _ do_._In paste form do_._

Paint, varnish, lacquer, and fillers:!Total _..do__.

Classified, total. _ _do___Industrial do_._Trade- do__.

Unclassified . . . do . . .

CELLULOSE PLASTIC PRODUCTS

Nitro-cellulose, sheets, rods, and tubes:Consumption in reporting company plants

thous. of lb_Production do___Shipments©".- . do_._

Cellulose-acetate:Sheets, rods, and tubes:©

Consumption in reporting companyplants. ...thous of lb.

Production do.. .Shipments©* do.. .

Moulding composition:Production do.. .Shipments^ - do__.

ROOFINGAsphalt prepared roofing, shipments:

Total thous. of squares.Grit roll.. do___Shingles (all types) do. . .Smooth roll do. . .

246,30463,208

2151,3741,364

101557523

3,2413,048

410,38245,967

.133

20253

262392

54,33649,07221,02228,0495,265

2421,3871,475

18513523

2,4572,264

3,570981

1,4361,153

.143

17851

246

48,98044,40720,13324,2754,573

2291,3091,353

14507541

2,4672,346

4,0621,1781,5491,334

.145

18357

224359

48,64744,14020,24723,8934,506

2431,4371,510

17573580

2,6702,506

3,9811,1571,5431,281

327,61550,474

.153

19567

279462

50,36345,33419,70925,6255,029

2841,4791,565

19585622

2,9912,813

4,1461,2271,5351,385

.156

171

253471

51,13846,17821,45424,7244,960

2521,5211,630

21630723

3,4393,453

4,7371,3451,7241,668

.153

16140

210278

41,36837, 53118,72718,8043,837

2681,4831,569

22558624

2,9792,777

3,8251,0701,3151,441

315,70753,351

.156

21747

175496

41,70837,86119,20018,6613,848

1,4851,658

23501550

3,3973,165

3,033813955

1,265

.164

19046

185428

47,04442,03219,19022,8425,012

2721,6181,755

24585542

3,7893,597

2,743675761

1,307

.165

17236

196323

45,17639,74517,61922,1265,431

2511,3771,545

33567504

3,4783,225

3,085782862

1,441

329, 86760, 790

.165

16243

183412

48, 07042, 617

23,7195,453

2421,4341,394

22519

3,6443,444

3,692969

1,1321,592

.170

16151

50, 53044,84919,00925,8405,681

2451,4151,526

50568588

3,6073,461

4,1981,1781,5111,509

.170

19349

260594

49, 20444,14118,14026,0005.064

1861,2961,305

5S465483

3,1793,054

4,3911,2281,6971,466

ELECTRIC POWER AND GAS

ELECTRIC POWERProduction, total • mil. of kw.-hr...

By source:Fuel -do.Water power ...do

By type of producer:Privately and municipally owned electric

utilities. mil. of fcw.-hr.-Other producers _-do

Sales to ultimate customers, total f (EdisonElectric Institute) mil. of kw.-hr_.

Eesidential or domestic .doKural (distinct rural rates) doCommercial and industrial:

Small light and power doLarge light and power do

Street and highway lighting doOther public authorities.. doRailways and railroads doInterdepartmental ...do

Revenue from sales to ultimate customers t(Edison Electric Institute) thous. of doL.

GASManufactured gas:f

Customers, total thousands..Domestic _.. - doHouse heating doIndustrial and commercial do

Sales to consumers, total mil. of cu. ft..Domestic doHouse heating doIndustrial and commercial do

Revenue from sales to consumers, totalthous. of dol_.

Domestic -doHouse heating. doIndustrial and commercial do

Natural gasrfCustomers, total -thousands..

Domestic.-. doIndustrial and commercial do

Sales to consumers, total .mil. of cu. ft.-Domestic do. . . .Ind'l., com'l., and elec. generation...do

Revenue from sales to consumers, totalthous. of doL.

Domestic... doInd'l., com'l., and elec. generation.-.do

15,178

9,8265,352

13,3941,784

13, 674

9,6164,058

12, 2821,393

11,3461,909231

1,9806,34613824046140

214,329

10,2659,492293469

30,49617,0112,16511,151

30,62322,2111.6346,676

7,8237,271550

110,42021,03987,003

33,66216, 32717,059

14, 323

9,8624,461

12,8221,501

11,6341,927

2,0456,47914024747241

2)7,827

10,2969,533283468

27,84915,6131,34910,696

28,30320,7311,0796,401

7,8687,311553

110,16318,25989, 791

31,92014,45817,115

14, 565

10, 6283,937

13,0941,471

12,0871,969329

2,1316,73016425947340

223, 515

10,3209,555283470

27,09115,1091,10810, 718

27,80220,360

9236,411

7,8827,334545

110, 96616,79291,328

31,41713, £3417,540

14, 364

10, 3644,000

12,8621,501

12,1462,031297

2,1206,77117025146740

226,043

10,4029,619308466

29,21016, 7461,20311,079

29,88722,0031,1186,657

7,9427,392548

115,37917,81294,873

32,13113,83617,973

15, 246

11,0414,205

13,6871,559

12,3802,092226

2,1006,951

19327550142

228, 884

10,4179,617333456

31,84517,4622,40211, 747

31,85422, 7121,9417,063

8,0127,444565

127,17922,400102,073

36,73916,88319, 528

14,491

10,4024,089

13, 0561,435

12,3082,266

170

2,1636,67220628150347

234,153

10,4289,618351450

35,72415,8797,49112,086

33,69221,9084,2487,373

8,1747,554617

143,34336,976103,639

46,46124,65521,433

15,651

11,1564,495

14,2241,427

12,7682,393

148

2,189

22430156963

239,611

10,4749,646367451

39,89216,20010,75212,618

36,10722,0426,1917,693

8,2157,585628

160, 93750,694107,125

66,12432,24223,448

15,646

11,0504,595

14,1101,536

13, 2422,673145

2,4506,77721730759776

250, 526

10,4349,616344465

43,70518,26812,29412, 796

38,68023,0167,7287,739

8,1717,554

614178,02867, 790107, 521

67,66542,00025,241

14,102

9,6644,438

12,6121,491

12,5722,405

156

2,3036,590

18730655074

237.957

10,4829,651

42,35717,67211,91712,425

37.75921,9247,9607,684

8,1837,572609

174,38962,485108,679

63.76038,43324,816

15, 053

9,4385,615

13,3221,731

12, 5582,244

168

2,1996,828

18130656072

230, 766

10,4549,626343471

41, 29617,62910, 22413,129

36, 52621, 6636,9377,734

8,2307,610618

171, 97961, 451107,491

61, 84837, 31221.901

14, 588

8,9795,609

12,9491,639

12,5362,139206

2,1566,988

15829452569

227,610

10,4639,621359470

38,16116,8757,72213, 280

34,28621, 5744,8817,649

8,2727,656613

152,97146,305105, 232

52, 55230,08422,253

r14,991

'9,632'5,360

13,326r 1,665

12,4872,047216

2,1547,07414329435669

225, 602

r Revised. ° No quotation.cflncludes consumption in reporting company plants. {Excludes consumption in reporting company plants.• Monthly data for 1920-39, corresponding to averages shown on p. 97 of the 1940 Supplement, appear in table 28, pp. 17 and 18 of the December 1940 Survey; revised data

for all months of 1940 are shown on p. 41 of the June 1941 Survey; revisions for 1941 not shown in the July 1942 Survey will be shown in a subsequent issue.OData do not include cellulose acetate safety glass sheets.fRevised series. Manufactured and natural gas revised beginning January 1929; earlier data will appear in a subsequent issue. Revised electric-power sales and revenue

from sales beginning 1937 will be shown in a subsequent issue. Data on sales of paint, varnish, lacquer, and fillers cover 680 companies and replace the series for 579 companiespreviously shown in the Survey; earlier data are shown in table 14, p. 26 of the July 1942 Survey.Digitized for FRASER




1942

June

1941


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary


FOODSTUFFS AND TOBACCO

ALCOHOLIC BEVERAGES

Fermented malt liquors:Production . thous. of bb]Tax-paid withdrawals do...Stocks do...

Distilled spirits:Production _ thous. of tax gal..Tax-paid withdrawals do.. .Imports thous of proof galStocks... thous. of tax gal..

Whisky:Production . .do .Tax-paid withdrawals do.Imports thous. of proof gal..Stocks,. _.thous. of tax gal__

Rectified spirits and wines, production, totalthous. of proof gal._

Whisky.. , do . . .Indicated comsumption for beverage purposes:

All spirits - thous. of proof gal.Whisky do . . .

Still wines:Production.. thous. of wine gal.Tax-paid withdrawals do . . .Imports.. - do . . .Stocks - do . . .

3 parkling wines:Production doTax-paid withdrawals d o . . .Imports doStocks - do . . .

DAIRY PRODUCTS

Butter, creamery:Consumption, apparent! thous. of lb_.Price, wholesale, 92-score (N. Y.)-dol. per lb. .Production (factory)t thous. of lb. .Receipts, 5 markets doStocks, cold storage, end of month do

Cheese:Consumption, apparentt— doImports§ d o —Price, wholesale. No. 1 American (N. Y.)

dol. per lb. .Production, total (factory)f thous. of lb. .

American whole milkf doReceipts (American), 5 markets doStocks, cold storage, end of month do

American whole milk doCondensed and evaporated milk:

Exports:!Condensed (sweetened) doEvaporated (unsweetened) do

Prices, wholesale (N. Y.):Condensed (sweetened) dol. per case..Evaporated (unsweetened) . . .do

Production, case goods:fCondensed (sweetened) thous. of lb. .Evaporated (unsweetened) d o —

Stocks, manufacturers', case goods, end of mo.:Condensed (sweetened) thous. of lb..Evaporated (unsweetened) do

Fluid milk:Consumption in oleomargarine doPrice dealers', standard grade.dol. per 100 lb.Production (Minneapolis and St. Paul)

thous. of lb.Receipts:

Boston thous. of qt .Greater New York d o . . .

Powdered milk:Exports. thous. of lb .Production! do_._Stocks, manufacturers', end of month . .do . . .

FRUITS AND VEGETABLES

Apples:Production (crop estimate)! thous. of bu . .Shipments, carlot _no. of carloads..Stocks, cold storage, end of mo.-thous. of bu_.

Citrus fruits, carlot shipments.no. of carloads..Onions, carlot shipments doPotatoes, white:

Price, wholesale (N. Y.) dol. per 100 l b . .Production (crop estimate) thous. of bu__Shipments, carlot.. no. of carloads..

GRAINS AND GRAIN PRODUCTS

Exports, principal grains, including flour andmeal§ thous. of bu .

Barley:Exports, including malt§. d o . . .Prices, wholesale (Minneapolis) :

No. 2, malting dol. per b u . .No. 3, straight do

Production (crop estimate) thous. of bu . .Receipts, principal markets doStocks, commercial, end of mo .do

6,1455,7868,953

&7,3789,215

> 541,188

6,5866,326

519,197"

4,4203,756

.37203, 860

83, 601117, 652

.24131,100109,90024,416261,563228,399

5.903.75

6,782402, 584

7,445330,810

2.75

79, 60061, 604

7830

15,8942,246

2.883369,82524,473

.68403,3457,0493,600

6,1265,6789,038

12, 5219,281860

551,424

9,5607,210788

504,081

5,3934,348

12, 69810, 724

1,6367,843125

117,887

119

794

150,124.36

209,87578,217120,246

70,2891,437

.22104,829'85,00321, 551142,369121,064

7,33343,383

5.403.45

'10,939• 350,073

10,009189, 711

4,6272.29

42,475

22,179132,294

7,005' 56, 03837, 231

9400

15,1642,094

2.363

19,889

3,330

232

.56

.52

7,8384,931

6,5546,2689,026

11,0758,992727

551,435

7,7646,606653

503, 567

5,4154,321

12,24810,084

2,6637,580169

111, 570

95615

811

138, 545.35

194,13573,993178,493

57,1302,094

.24r 94, 930r 77, 73522,212168,420139, 568

7,11160.153

5.483.60

' 10, 883310, 791

9,783261, 559

4,9192.32

35, 932

22, 769131,958

6,336' 41, 73834,108

6810

12,4841,039

1.970

13,897

4,042

178

.51

.45

6,0285,471

5,9136,0558,605

9,88110,092

855549,275

6.5717,104711

501,587

5,7894,807

13,02811,017

9,3757,018

90106,377

68714

817

150, 745.36

168, 33960,942

200, 228

66,4961,758

.24' 91, 382' 75,68015,634184,940151,906

8,86540, 687

5.803.70

' 10, 586308,855

10, 494289,904

4,5822.40

30,658

22,027127,050

2,760' 36,88531,705

4980

10, 4131,706

1.808

8,393

5,037

574

.55

.51

10,4685,514

5, 2915,2408,384

21, 20111,9691,549

547,678

9,4249,2121,423

499,503

5,8714,715

15,54913, 561

95,88410,123

132136,457

7711211

761

147,036.37

146, 06955,666

202,957

66,7651,464

.26' 86, 551' 70,73418,097188,337156,746

6,30045, 875

5.563.85

' 9, 423290, 634

10,062339,716

6,0442.49

25,972

21, 895132, 725

4,155r 32, 97926,975

5,23610,3518,2363,854

1.845

11,295

9,116

284

.69

.60

14, 1116,977

4,9894,9208,207

30,66710,505(-)

555,462

13,8347,602(•)

504,0416,3305,167

()C)

130,8868,546<•)

183,015

118124

(•)748

().36

133, 53053,025186,635

.26' 83, 607' 66, 88715,784

188, 727157,468

5.403.85

281, 683

11,245382, 605

6,0492.60

27,159

21,802135,906

)29,16921, 470

11,07331,32110,4603,641

1.944

16,716

C)

C).69.55

9,1167,757

3,8424.0747,783

20,76811,108

558,967

11,8288,143

505, 557

5,9435,040

54,1358,832

193, 275

111137

719

112, 46143,433152,484

.26'71,426' 56, 33413,648189,002158,238

5.903.85

' 8, 560259, 758

11,906417,643

5,7642.66

29,018

20,842126,453

26, 30518, 732

6,32231,18114, 3132,491

2.163

14,162

.77

13, 2398,739

4,4214,5217,446

18,7788,586

567,403

13,6326,832

511,211

4,5833,772

11,85110, 633

183,560

114150

4,4323,9707,672

18, 5359,233

574,937

13,0886,519

516,456

6,0064,627

2,5108,079

176, 627

7844

664

.35116,65948,149114,436

.26' 74, 422' 58, 74413, 542201,613171, 869

5.903.85

' 6, 922'286, 684

12,024328,475

6,2302.70

35,194

21,162130,314

31, 25320,156

126,0764,974

25, 73217,051

1,947

2.330357,78314,016

690

.35121,41047,39383,106

69,85056,07514,356165,018137, 276

5.903.85

3,079310,952

9,000252, 532

6,1132.73

39, 349

21,250126,383

' 40,00022,931

3,70420,16220,3292,660

2.638

21, 738

.82

.68^358,70912,19010,002

.87

!,827

4,4383,7638,148

12,9039,413

577,140

11,4866,417

519, 790

6,2494,881

1,8468,860

167, 079

9336

742

.35118, 78047,17063, 701

.2572,10558,05512,928

160,073133,140

3.85

3,853296, 877

6.223218,410

2.74

38, 794

19, 575115, 501

• 41,80028, 789

3,95114,23818,0521,856

2.719

16, 556

.73

7,2209,656

5,1544,5778,491

h 10, 57111, 312

> 542,884

10,0207,501

520, 765

6,4815, 627

1,8439,446

158, 041

7429

780

.35137,01055, 71845,045

.2488, 77072, 29021,965

188, 333163, 939

5.903.85

5,426335, 203

6.469213, 550

5, 4742.75

44, 986

22, 756130, 619

5,7285,0308,950

»9,7169,641

'543,512

9,0586,631

521, 503

4,6253,902

1,3088,123

150,023

15532

.38150,69555,13537,228

.23103, 03085, 96021, 432

203, 901178, 473

54,00038, 482

4,0018,20720, 8311,466

2.525

21, S

.70

5. 7708^324

3.80

4,404356, 799

8,292222, 485

5,167

43, 796

22, 655129, 195

' 61. 40047, 459

3,3153,52119, 5922,925

2.250

19, 82?

.71

6,1425,9788,835

6 8,1379,283

4,8136,344 |

'543,094

6,9705,968

521, 033

4,6213,907

1,0637,026

142, 528

11933

978

.38204,95571, 554' 64,720

.23136, 280114,74518,066

222, 637195, 537

5.903.75

4,356440, 682

8,178294,579

4,9192.75

49,032

24, 321135, 661

78,10060, 595

1,8401,259

19, 3124,672

2.644

21,016

.92

.76

6,0644,541

r Revised. i December 1 estimate. 2 July 1 estimate. b Not including high-proof spirits produced at registered distilleries.^Production in "commercial areas." Some quantities unharvested on account of market conditions are included. §See note marked " § " on p. S-26.• The publication of detailed foreign trade statistics and consumption series in which trade statistics are used has been discontinued for the duration of the war.fFor revised 1939 and 1940 data for the indicated series on dairy products, see note marked " t " on p. S-24 of the December 1941 Survey; revisions for 1941 not shown above

are available on request.JHeretofore data published currently represented only reporting companies. Beginning with the April 1942 issue of the Survey, all data are estimates of total production

comparable with 1940 data on p. S-24 in the December 1941 Survey; revised 1939 data are available on request.


August 1942 SUKVEY OF CUERENT BUSINESS S-25

Monthly statistics through December 1939, to-gether with explanatory notes and referencesto the sources of the data may be found in the1940 Supplement to the Survey

1942

June

1941


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary


FOODSTUFFS AND TOBACCO—Continued

GRAINS, ETC.-ContinuedCorn.

Exports, including meal§ thous. of bu__Grinding?* do.Prices, wholesale:

No. 3, yellow (Chicago). dol. perbu..No. 3, white (Chicago) doWeighted avgM 5 markets, all grades.do

Production (crop estimate) thous. of bu_.Receipts, principal markets doShipments, principal markets doStocks, commercial, end of month do

Oats:Exports, including oatmeal§ doPrice, wholesale, No. 3, white (Chicago)

dol. per bu._Production (crop estimate) thous. of bu_.Receipts, principal markets -doStocks, commercial, end of month .do

Rice:Exports § .pockets (100lb.)._Imports.. doPrice, wholesale, head, clean (New Orleans)

dol. per lb_.Production (crop estimate) thous of bu..-Southern States (La., Tex., Ark., and Tenn.):

Receipts, rough, at millsthous. of bbl. (1621b.)._

Shipments from mills, milled ricethous. of pockets (100 lb.)._

Stocks, domestic, rough and cleaned (interms of cleaned rice), end of month

thous. of pockets (100 lb.)_.California:

Receipts, domestic, rough...bags (100 lb.)_.Shipments from mills, milled rice doStocks, rough and cleaned (in terms of

cleaned rice), end of mo..bags (100 lb.)__Rye:

Price, wholesale, No. 2 (Mpls.)..dol. per bu_.Production (crop estimate) thous. of bu_.Receipts, principal markets doStocks, commercial, end of month do

Wheat:Disappearance doExports, wheat, including flour § do

9.768

.85

.96

.8422,627,823

23,32717,59557,012

.4921,303,114

Wheat only § do.sale:Prices, wholesale:

No. 1, Dark Northern Spring (Minneapolis)dol per bu__

No. 2, Red Winter (St. Louis) do. . . .No. 2, Hard Winter (K. C.) __.do—.Weighted av., 6 markets, all grades.-do

Production (crop est.). total thous. of bu_.Spring wheat ..doWinter wheat do

Shipments, principal markets doStocks, end of month:

Canada (Canadian wheat) doUnited States, total 1 do

Commercial. doCountry mills and elevators doMerchant mills. do...On farms do_.

Wheat flour:Disappearance (Rus'l-Pearsall).thous. of bblExports§ doQrindings of wheat thous. of bu_.Prices, wholesale:

Standard patents (Mpls.) dol. per bbl_.Winter, straights (Kansas City) do.

Production:Flour, actual (Census) thous. of bbl..

Operations, percent of capacityFlour (Russell-Pearsall) thous. of bbl..Offal (Census). thous. of lb_.

Stocks, total, end of month (Russell-Pearsall)thous. of bbl..

Held by mills (Census) do

LIVESTOCK

Cattle and calves'.Receipts, principal markets.thous. of animals.Disposition:

Local slaughter do.Shipments, total do.

Stocker and feeder doPrices, wholesale (Chicago):

Beef steers ...dol. per 100 lb._Steers, corn fed doCalves, vealers do.

Hogs:Receipts, principal markets thous. of animals.Disposition:

Local slaughter .do.Shipments, total do

Stocker and feeder do.Prices:

Wholesale, heavy (Chi.) ...dol. per 100 lb._Hog-corn ratio

bu. of corn per cwt. of live hogs..

3,7902,109

.0702 75,836

104

253

282

469,837392,090

187,381

.602 58,213

89517, 034

1.141.191.111.11

2904,2882228,806•> 675,482

14,493

384, 746

224, 441141,789

159,544

5.515.09

1,953

1,210724264

13.1112.9913.00

2,25663549

14.27

16.3

2959,421

.74

.82

.71

19,24419,09853,102

92

.37

3,3963,906

320,9399,173

703

1,457

317,389123,406

302,587

.57

2,4905,639

157,1232,711

106

1.011.02.97

26,611

429, 565385,424142,671' 73,789' 81,598

87,366

55438,819

5.424.77

8,55258.9

9,090669,141

5,4004,001

1,624

1,025574228

10.6211.8811.13

2,305

1,70758251

9.88

13.1

1,3708,736

.74

.85

.71

22,12322, 71243,701

82

.36

10,5757,328

212,49725,095

.047

72

463

256,62681,128

324,405

.55

3,75811,077

2,413

1.001.03

30,987

432,504

246," 702

9,765507

40,625

5.425.06

8,91859.3

10,332703,201

5,450

1,079605235

11.2412.0111.94

2,036

1,47356054

10.94

14.7

1,2119,514

.75

.84

.74

18,77615,12440,099

113

.37

14,60711, 771

262,09623,418

.044

312

548

861

297,63882,137

379,134

.62

6,94414,637

3,137769

1.061.081.071.05

17,642

438,088

2747629"

8,293504

39,123

5.765.36

8,59257.29,047

674, 351

5,700

2,8349,676

.75

.81

.73

27,49620, 55539,137

224

.46

10,41413,427

224, 7094,709

.041

650

822

712

114,93172,446

337,263

4,94417,243

178,7045,7673,771

1.141.161.141.12

14,086

452,0181,152,108284,920223,975154,902

1,728

1,032680328

11.7311.9312.38

1,895

1,36152943

10.88

14.8

488,311

10, 545425

43, 247

6.005.63

9,49565.8

11,170745, 899

5,9004,586

2,208

1,198956514

11.7311.7113.50

2,035

1,48850437

11.42

15.7

()9,256

.70

.75

.67

24,04117,09940,135

.44

6,72011, 562

n.043

2,191

1,278

1,683

263,460131,856

354,827

.60

2,60317,504

1.101.131.121.02

16,394

476,307

280," 588"

()44,251

5.755.48

62.210,553

766, 313

6,000

2,454

1,2091,196

11.5511.4413.38

2,542

1,90561642

10.71

15.5

8,653

.71

.78

.66

24, 35415,84739, 835

8,579

.76

.83

.7212,672,541

.48

7,05211,030

.5311,176,107

.049

2,321

1,425

2,627

316,495290,089

247, 542

.64

2,15017,645

1.141.171.131.06

14,752

473,995

276,260

37,560

5.885.44

8,216

650,110

2,022

1,054961

11.4011.0612.00

2,832

2,09872745

10.31

15.2

28,10713,19347, 946

7,9479,473

.064154,028

2,099

1,772

3,007

378, 554260,941

210, 534

.68i 45,191

2,47517,474

164,501

1.231.271.201.15

945,9371274,6441671,293

14,579

471,492987,607270,835207,351135,601373,820

42,403

6.305.74

61.8

732, 746

" "3,961"

1,964

1,129816443

12.5712.7512.60

3,639

2,69293563

10.51

15.3

10,118

.82

.90

.78

29,49416,28050,311

.58

8,5198,625

1,148

1,700

2,508

465,182137,749

343,001

2,11516,785

1.281.341.261.20

10,471

465,608

258," 570'

43,611

6.485.86

9,53263.5

756,199

1,116660310

12.6013.1114.09

3,704

2,6701,033

60

11.37

14.5

9, 732

.82

.96

.78

30,35715,84959,884

.56

5,6707,483

1,325

1,315

2,583

229, 40497,631

374,565

.78

1,91317,029

1.251.311.231.21

9,155

458, 692

249,891

38,621

6.335.74

8,47963.8

663,743

1,467

973479199

12.3912.6613.50

2,463

1,74871051

12.49

15.2

11,072

.82

.97

.80

24,098l/,52460,973

5,2535,893

.070

681

1,405

1,885

278,245162,316

364, 795

.75

1,09117, 551

185,815

1.241.301.211.19

11,195

446, 983801,792237,777171,432122,461270,122

38,194

6.175.63

8,37855.7

657,985

1,741

1,094612264

12.5913.3613.80

2,694

1,99569052

13.51

15.7

10, £

.82

.97

.81

30, 57019, 79363, 363

5,6144,642

198

1,256

844

499,885420,205

242,690

.72

56617,333

1.191.211.151.14

12,129

420,880

229,407

36,878

5.955.40

8,05853.6

641,182

1,815

1,085724341

13.2614.0913.13

2,638

2,02061257

14.26

16.9

10, 205

.85

.98

.84

25, 75516,61364, 408

.55

5,8133,776

.073

70

471

439

422,998195,996

290,831

1,13317,240

1.201.201.151.16

12,861

398,177

221,896

36,141

5.845.26

7,90354.6

628,939

1,684

981689313

13.2213.4813.50

1,99862952

14.13

16.3

' Revised. 1 December 1 estimate. 2 July 1 estimate. ^Beginning October 1941, data are for domestic consumption only, excluding grindings for export.0 See note " a " on page S-26. *> Data not available. §Data for 1939 revised; see table 14, p. 17 of the April 1941 Survey.

H June figures include only old wheat; new wheat is not reported in stock figures until crop year begins in July.Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis



1942

June

1941

June JnivJulySep*t e m b e r Octo- Novem- Decem-

ber ber ber

1943Janu-ary



LIVESTOCK—Continued

Sheep and lambs:Receipts, principal markets.thous. of animals.Disposition:

Local slaughter .do—Shipments, total do

Stocker and feeder do....Prices, wholesale (Chicago):

Ewes dol. per 100 lb_.Lambs _ do

MEATSTotal meats:

Consumption, apparent mil. of lb..Exports§ do—Production (inspected slaughter) doStocks, cold storage, end of month do

Miscellaneous meats. doBeef and veal:

Consumption, apparent thous. of lb_.Exports§ - do_...Price, wholesale, beef, fresh, native steers

(Chicago) dol. per lb_.Production (inspectedslaughter).thous. of lb_.Stocks, beef, cold storage, end of mo do

Lamb and mutton:Consumption, apparent doProduction (inspected slaughter) .doStocks, cold storage, end of month do

Pork (including lard):Consumption, apparent do—Exports, total do....

Lard._ doPrices, wholesale:

Hams, smoked (Chicago) dol. per lb..Lard, in tierces:

Prime, contract (N. Y.) do....Refined (Chicago) do....

Production (inspected slaughter), totalthous. of lb_.

Lardf - do....Stocks, cold storage, end of month do

Fresh and cured.. do—Lardi - - do....

POULTRY AND EGGS

Poultry:Receipts, 5 markets... thous. of lb_.Stocks, cold storage, end of month do

Eggs:Receipts, 5 markets thous. of cases. .Stocks, cold storage, end of month:

Shell thous. of cases..Frozen thous. of lb..

TROPICAL PRODUCTS

Cocoa:Imports^ - - -long tons..Price, spot, Accra (N. Y.) dol. perlb..

Coffee:Clearances from Brazil, total..thous. of bags._

To United States doImports into United States§ doPrice, wholesale, Santos, No. 4 (N. Y.)*

dol. perlb..Visible supply, United States.-thous. of bags..

Sugar:Raw sugar:

Cuban stocks, end of monththous. of Spanish tons..

United States:Meltings, 8 ports longtons.-Price, wholesale, 96° centrifugal (N. Y.)

dol. per lb.-Receipts: From Hawaii and Puerto Rico

long tons. .Imports, total § .do

From Cuba. -..doFrom Philippine Islands do

Stocks at refineries, end of month..doRefined sugar (United States):

Exports long tons.-Pnce, retail, gran. (N. Y.) dol. per lb._Price, wholesale, gran. (N. Y.) doReceipts:

From Hawaii and Puerto Rico .long tons.-Imports, total. do—

From Cuba doFrom Philippine Islands do

T>% imports. thous. of lb_.

"MISCELLANEOUS FOOD PRODUCTS

Candy, sales by manufacturers.—thous. of dol..Fish:

Landings, fresh fish, prin. ports.thous. of lb.Stocks, cold storage, 15th of mo ..do ..

1,832

1,037779217

6.1113.85

1,531825110

.210609,840

82, 233

58,8995,481

.305

.127(0

861,804151,017627,037524,490102, 547

32,49379,266

1,588

7,94827% 835

.0890

453348

.1341,079

2,970

234,000

.037

194,878

63,337

1,779

933834150

4.1011.13

1,22967

1,1901,233

75

525,989978

.175512,11268.442

54,91554,4583,638

647,95151,43920,101

.256

.101

.112

623,078115,7191,086,399703,893382, 506

28,18885,573

1,508

6,427178,594

34,395.0799

627513

1,215

.1152,224

1,942

405, 219

.035

195,169239,305147, 70578,326654,105

3,175.056.049

6,25754, 55149,1445,3659,752

15, 399

971924241

4.4110.75

1,260106

1,2221,102

73

569.0545,473

.171565,04165, 708

62,23861,8533,211

628,22280,00553,819

.275

.104

.114

594,970108,395959,146618,866340,280

28,72381,206

1,337

6,641195,097

25,218.0782

454296591

.1222,064

1,654

402,948

.035

166,355211,202127,86463,673653,041

2,482.056.050

5,41227,70719,4777,92610,679

14,629

2,023

9221,104377

4.8410.88

1,27891

1,16891672

563,9864,029

.176557,53667,489

60,24460,3643,306

653,85470,50844,634

.285

.103

.118

549,83698,086773,182485,108288,074

33,36885,363

876

6,131194,006

16,841.0787

518376444

.1341,879

1,422

417,387

.037

136,027210,190143,19816,769506,133

7,232.057.052

4,94619,02516,036

4467,766

17,994

2,557

1,0041,406592

5.1410.98

1,29297

1,17873064

592,1693,181

.176580, 53673, 366

62, 27663.0944,093

637,39597,28546,976

.296

.111

.128

534, 50392,231

589,322371,362217,960

35,22096,701

833

5,441178,438

24,257.0814

847744

72

.1341,780

1,149

459,297

.036

126,173167,040110,46813,072

10, 253.058.052

1,11613,22010,6401,9626,915

28,251

2,833

1,0181,820523

5.2210.63

1,418(•)1,43564964

635, 550C).173

642, 73189, 793

66,45367, 2064,783

716,262

8.272

.104

.121

725,158127,469490,694313,268177,426

49,351127,981

701

3,857153,843

().0820

706624

.1321,580

789

404, 252

.035

8355,071()

.059

.052

33,336

1,818

905945379

5.4410.57

1,245

1,39472073

524,974

.173535,884114, 330

55,57257,2446,432

664,354

.265

.104

.120

800,819141,579526,735350,270176,465

77,720172,913

587

1,670129,533

.0878

882768

.1311,393

477

331,299

.035

352,584

.059

.052

32,003

1,719

1,016699199

6.0611.20

1,477

1,684903105

574,166

.191575, 794135,478

64,23965,8167,936

838,113

.271

.106

.127

1,042,675190,337655,049468, 538186,511

84,224218,392

892

54995,538

.0935

1,008970

.1331,327

213

318, 644

.035

350,074

.060

.052

31,043

1,791

1,036754197

6.3411.88

1,503

1,7281.097

123

617, 671

.198605,041142, 599

68,45168, 781

8,228

816, 538

.299

.112

.130

1,053,759203, 206823,129613,659209,470

27, 302206,120

915

33176,293

.0950

1,0731,001

.1341,471

291,839

.037

218,993

.064

.053

27,007

1,535

907629126

6.4811.25

1,213

1,2711,097

116

518, 851

.196513,157150,410

61, 81361, 701

8,122

632, 393

.303

.121

.136

696,100128,465823,169616,604206,565

18,624179,083

1,149

52973, 766

.0892

766665

.1341,102

181, 387

.037

199, 661

.066

.053

27, 277

1,866

1,136721164

6.9111.00

1,282

1,3451,046

118

560,617

.200545,801147, 514

73,31173,422

8,180

648,483

.315

.125

.138

725,295132,115772,420590,416182,004

20,509139,677

1,689

1,798107, 397

.0890

.134850

2,084

271,426

.037

209,257

.066

.053

28,914

1,866

1,042819224

11.38

1,338

3.007872258

6.8413. 72

1,376941108

598, 990

.214566, 213126,884

1,374893110

.213530,200' 99,075

69, 43368, 331 i 61,158

5.711

669, ?03

.321 i

.126 I

.144 !.126.143

741,802 j 782,338126,877699,0835/2, 799126,2s4

23,12396, 716

1,906

135,081677,844559,849117,995

29,762' 80, 242

1,887

' 6,945' 223,831

.0890

1,006842

.134852

3,295

319, 209

.037

179,311

.055

27,179

773635

.134825

3,172

261,834

.037

164,873

.065

.055

22, 830

54,555 51,479 54,159 59,355 49,521 42,215 29,522 16,355 13,853 39,153 42,493 48 87955,117 73,432 90,885 102,191 107,574 115,432 117,805 99,979 82,677 62,160 49,079 '55^036

' Revised. l No quotation. §Data for exports and imports revised for 1939; see table 14, p. 17, and table 15, p. 18, respectively, of the April 1941 Survey.« The publication of detailed foreign trade statistics has been discontinued for the duration of the war. h Data not available.•New series. This series replaces the one for the price of coffee, Rio No. 7 shown previously. Earlier data are shown in table 13, p. 22 of the April 1942 issue.tRevised series; revisions beginning January 1937 appear in table 8, p. 18, of the January 1941 Survey; see also note marked " 1 " which applies to both production and stocks.^Includes fats rendered from hog carcasses reported beginning November 1940 as "lard" and "rendered pork fat." Figures are comparable with earlier data reported as

lard."Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis


^Monthly statistics through December 1939, to-gether with explanatory notes and referencesto the sources of the data, may be found in the1940 Supplement to the Survey

1942

June

1941

June July Sep- Octo- Novem- Decem-tember ber ber ber

1942

January March April May


MISCELLANEOUS FOOD PRODUCTS—Continued

Gelatin, edible:Monthly report for 7 companies:

Production thous. of lb__Shipments _ . . doStocks

Quarterly report for 11 companies:ProductionStocks . .

do

dodo

TOBACCOLeaf:

Exports, incl. scrap and stems§..thous. of lb_.Imports, incl. scrap and stems§ dnProduction (crop estimate) mil oflb__Stocks, dealers and manufacturers, total, end

of quarter mil. of lbDomestic:

Cigar leafFire-cured and dark air-curedFlue-cured and light air-curedMiscellaneous domestic

Foreign grown:Cigar leafCigarette tobacco

Manufactured products:Consumption (tax-paid withdrawals):

Small cigarettes miLarge cigars . _ thouMfd. tobacco and snuff thous.

Exports, cigarettes! thou^

dodododo

dodo

llions.sandsof l b .rands

Prices, wholesale (list price, destination):Cigarettes, composite price.-dol. per 1,000..Cigars, composite price _ _ - _ do

Production, manufactured tobacco:Total f thous

Fine cut chewingPlug . .Scrap chewingSmoking _ _ _ _ _ .Snuff *. .Twist

of lbdodo .dodododo

1,8602,1513,528

2 1 , 357

20, 004532, 380

27, 807

5,76046. 592

1,9732,0254,803

7,4926,563

14,9166,630

3,349

404283

2,5274

22109

18, 523478,802

27,660549,338

5.76046.056

28, 469441

4,2293,910

16,2883,123

478

1,6612,2484,216

26,7936,042

18.404487,033

28,835521,326

5.76046. 056

29,079458

4,5603,884

16, 3483,347

483

1,4352,0063,644

20,9755,725

17,777491,028

27,462843,686

5.76046.056

27, 594505

4,2644,064

15.2003,059

501

1,7742,0513,367

6,3294,720

23,3807,451

3,372

371258

2,6184

2199

18, 761506,071

29, 756433,690

5.76046.056

30,499467

4,4763,962

17, 7583,333

503

2,1552,3033,220

C)(°)

19,632621,99032,179

(°)

5.76046. 056

32, 712467

4,7104,016

19, 3413,665

514

2,2712,0603,431

17,141542,906

27,376

5.76046. 056

27, 570396

3,8103,279

16,6313,023

430

2,0812,1213,392

8,3145,026

> 1,280

3,492

340251

2,7844

2191

16, 201474,913

24, 265

5.76046. 056

25, 521415

3,7693,410

14,0703,392

465

2,2452,0943,542

"" "

19,503458,277

27,938

5.76046.056

27,365415

4,0453,673

14,9903,763

479

2,1022,1263,518

16,628441,80524.426

5.76046.190

25,072358

3,6973,411

13,8543,265

486

2,2692,1473,640

8,5495,139

3, 506

434303

2 6634

2181

17,016489, 727

27, 919

5.76046. 592

28, 656411

4,4454,117

15,2403,916

528

2,1642,1623, 642

2,1161,9403,819

17, 380503. 536

27, 825

5.76046. 592

27, 745398

4,3473,913

14, 7823 827

478

18, 455457 767

25, 181

5. 76046. 592

25,950420

4,2973,768

13,7053 302

459

FUELS AND BYPRODUCTS

COALAnthracite:

Exports thous. of long tons..Prices, composite, chestnut:

Retail dol. per short ton..Wholesale _ do

Production thous. of short tons..Stocks, end of month:

In producers' storage yards doIn selected retail dealers' yards

number of days' supply..Bituminous:

Exports thous. of long tons..Industrial consumption, total

thous. of short tons_.Beehive coke ovens. ._ doByproduct coke ovens.- doCement mills. doCoal-gas retorts doElectric power utilities doRailways (class I ) . . . doSteel and rolling mills doOther industrial ..do

Other consumption:Vessels (bunker) thous. of long tons..Coal mine fuel thous. of short tons..

Prices:Retail (35 cities) .dol. per short ton..Wholesale:

Mine run, composite .doPrepared sizes, composite do

Production t thous. of short tons..Stocks, industrial and retail dealers, end of

month, total thous. of short tons..Industrial, total .do

Byproduct coke ovens, doCement mills.- doCoal-gas retorts doElectric power utilities doRailways (class I). . doSteel and rolling mills doOther industrial do

Retail dealers, total doCOKE

Exports thous. of long tons..Price, beehive, Connellsville (furnace)

dol. per short ton..Production:

Beehive thous. of short tons.Byproduct . doPetroleum coke do....

12.4810. 3425,133

140

33,1391,0597,229

640139

5,2008,921

7719,180

9.49

4.7754.939

48, 410

73,268

9,866975369

16, 87612,2171,145

24, 2407,580

6.000

6955,118

335

11.579.8074,891

205

29

2,071

30,881886

6,855615127

5,1357,576

8278,860

113306

4.5704.663

43, 319

42,92937, 249

5,913559225

9,9886,604

72013, 2405,680

64

6.125

••595r 4, 842

144

223

11.889.9394,681

268

32

1,973

31, 510908

7,107660128

5,2157,799

129311

9.06

4.6184.72443,300

47,05140, 4516,215634285

10,4317,003723

15,1606,600

61

6.125

5785,014134

304

12.1710.0735,246

414

48

2,325

32,400959

7,108658132

5,6438,038• 8429,020

137329

9.24

4.6584.82345, 650

52, 80145,0117,205660296

10,9128,111757

17,0707,790

61

6.125

6115,013137

404

12.4110.2095,143

708

59

2,353

31,928901

6,814630126

5,5528,053802

9,050

164335

9.34

4.6774.88346,880

56,99448, 0447,292709331

11, 6378,758827

18,4908,950

54

6.125

5744,806158

12.4610. 3015,380

1,177

96

34,978968

7,050676143

5,9138,742886

10, 600

()362

9.42

4.7034.92249,800

61,40151, 5018,371720364

11,9199,548909

19, 6709,900

C)

6.125

6134,971154

12.4210.3013,832

1,393

108

34,555835

6,848628143

5,5328,747912

10,910

313

9.47

4.7134.930

43, 77061, 76352, 0138,326714372

12,4279,726908

19, 5409,750

6.125

5324,833149

12.4310.2884,118

1,237

58

37,1921,0217,352588149

5,8929,226984

11,980

334

9.50

4.7044.92546, 667

62, 73753, 3978,901705367

12,82110,235

96819,4009,340

6.125

6505,186151

12.4810.2884,532

915

42

38,4761,0167,404564148

5,9139,6851,04612,700

9.52

4.7324.92648, 540

58,68150,9518,179647343

12,6609,788964

18,3707,730

6.125

6475,224140

12.4810. 2884,772

755

34

35,091957

6,685497142

5,1548,879937

11,840

313

9.51

4.7374.924

43, 840

56,88550,6357,888652333

13,4559,662995

17,6506,250

6.000

6104,716121

12.4810. 2805,085

656

54

36,4431,0247,372543153

5,0119,723957

11,660

251

9.51

4. 7534.89747,400

57, 22151, 7617,881743293

13,8919,9101,01318,0305,460

6.000

6525,200108

12.2910.1145,153

466

27

34,5261,0297,173571144

4,7179, 189863

10, 840

260

9.43

4.7744.81949, 000

6.000

6555,059

91

12.4910.3114,843

292

• 34, 5011,0997,451

647r144

r 5, 103r 9, 398

8199,840

256

9.46

4.7734.858

48, 250

61,83655, 7468,409

813301

14, 76710,8161,050

19, 5906,090

«• 67, 418•• 60, 618«• 9,179

876331

15, 854r 11, 479

1,09921, 800

6,800

6.000

7035,276

80r Revised i Dec. 1 estimate. « The publication of detailed foreign trade statistics has been discontinued for the duration of the war.JData for 1938 revised. See p. 45 of the August 1940 Survey. 2 July 1 estimate.§Data for 1939 revised; for exports, see table 14, p. 17, and for imports, table 15, p. 18 of the April 1941 issue.tSee note marked "*" on this page.*New series. Data are not available on a monthly basis prior to 1941. The total production of manufactured tobacco has been revised to include the data for snuff.




1942

June

1941 '


Octo-ber

Novem-ber

Decem-ber

1942

Janu-ary


FUELS AND BYPRODUCTS—Continued

COKE—ContinuedStocks, end of month:

Byproduct plants, total.thous. of short tons..At furnace plants. doAt merchant plants _ do

Petroleum coke_- - do

PETROLEUM AND PRODUCTS

Crude petroleum:Consumption (runs to stills)...thous. of bbl_.Imports! doPrice (Kansas-Okla.) at wells...dol. per bbl..ProductionJ _ thous. of bbl__Refinery operations.. pet. of capacity..Stocks, end of month:

California:Heavy crude and fuel thous. of bbl..Light crude do

East of California, total! doRefineries! doTank farms and pipe lines!__ -do

Wells completed!__ _ number..Refined petroleum products:

Gas and fuel oils:Consumption:

Electric power plants thous. of bbl..Railways (class I) doVessels (bunker) _. do

Price, fuel oil (Pennsylvania)*.dol. per gal_.Production:

Residual fuel oil*. .thous. of bblGas oil and distillate fuels, total do

Stocks, end of month:Residual fuel oil, east of Calif doGas, oil and distillate fuels, total...do

Motor fuel:Demand, domestic! thous. of bbl..Exportst - do.Prices, gasoline:

Wholesale, refinery (Okla.)dol per gal._Wholesale, tank wagon (N. Y.)t---doRetail, service stations, 50 cities*...do

Production, totalt thous. of bblBenzol}: do..Straight run gasoline! do__Cracked gasoline! .do..Natural gasoline! do..

Natural gasoline blended! ...doRetail distribution^ mil. of gal...Stocks, gasoline, end of month:

Finished gasoline, totals.--thous. of bbl.-At refineries do

Natural gasoline... _ doKerosene*

Consumption, domestic ...doExports§ doPrice, wholesale, water white, 47°, refinery

(Pennsylvania) dol. per gal_.Production thous. of bbl.Stocks, refinery, end of month .do

Lubricants:Consumption, domestic! -doPrice, wholesale, cylinder, refinery (Penn-

sylvania) dol. per gaL-Prodnction thous. of bbl.Stocks, refinery, end of month do

Asphalt:Importsp .short tons..Production doStocks, refinery, end of month. ..do

Wax:Production thous. of lb_.Stocks, refinery, end of month do

1,405969435

1.110

931

7 059

.056

.166

.154

.064

.360

1,428849578382

115,9354,4881.110

115,02788

65,73534,961

216,45443, 526

172,6281,620

1,3295,1472,488

.053

27,88214,697

20,91430,620

58, 3601,184

.058

.149

.13856, 987

27423,14028,4785,0953,6482,327

82,41152, 8566,235

3,918101

.0575,218

3,171

.1233,5207,353

4,366634, 500841,000

54, 600110, 481

1,450874577367

121,1804,6571.110

118,251

66,45435,651

212,13244,472

167,6601,934

1,6235,3392,633

.057

28,62415,746

21,90934,337

63,0931.212

.060

.149

.13969,609

27123,96230,1245,2523,7692,544

77,42949, 0926,317

4,27095

.0595,40610, 635

3,074

.1403,5637,107

0687,100713,000

55,440101, 434

1,612950662372

124,5724,3191.110

121,35490

64,72934, 560207,22543,483163,7421,836

1,8025,4602,661.058

29,83615,409

23, 56236,845

62,9441,355

.060

.149

.14060, 740

27724,79030,0345,6394,2372,589

73,09445, 4636,111

4,44952

.0625,85011.636

2,562

.1433, 5617,206

0740, 700605,000

54,32085, 824

1,580881699370

121,4814,7901.110

119,446

63,84734,875203,48141,975

161, 5061,931

1,6745,4352,331.059

28,11816,024

25,22439, 726

58, 9952,211

.060

.149

.14060,167

26624,03930,1985,6644.8542,383

72, 76146,1515,373

5,624295

.0635,94911.662

2,638

.1543,4277,415

0680, 200474, 000

66,36079,458

1,616871745362

126,772(°)1.110

126,14589

62,94134,852201,04842,446158,6021,821

1,8576,049(a).058

30, 87116, 554

26,19842,028

()C)

.060

.149

.14062,288

29624, 71231, 3285,9525,1232,342

74, 69846, 4174,870

.0636,35511,670

.1603, 4947,487

C)694,400451,00067,76075, 467

1,668817851390

121,539

1.110123,355

62,74535,082200,60242,546158,0561,723

1,7405,723

.054

29, 66616, 230

25,11842, 261

.060

.149

.14161,243

28724, 24430, 7185,9944,7172,168

79, 37849, 3514,557

.0646,44310,843

.1603,6077, 752

580, 700512,000

76,413

1,708832876228

124,985

1.110128,293

88

63,37835,596203,42343,154760,2691,458

1.9606,328

.051

31,12717,142

24, 85549,330

.060

.149

.13963, 573

32324,91332,2556,0824,6222,247

86,41356, 3254,275

.0646,6829,599

.1603,5548,127

466, 500604,000

60,20074, 814

1,510817692246

119, 032

1.110128, 262

82

61,84537, 767207,85945, 085162, 7741,373

1,8676,495

.050

29, 40516, 902

14, 56740, 801

.060

.150

.14160, 035

20822, 72530, 3247,4885,3511,983

93, 48964, 9964,802

.0646,6346, 987

.1603,4978,266

382, 000695,000

55,16072, 800

1,386869513259

105,776

1.110113,961

81

61,17439,184

213,39543,387

170,008953

1,5325,949

.052

27,25415,194

14,05533,711

.060

.152

.14151,612

18919,22626,0066,7684,4561,768

100,18672, 9905,209

.0636,1336,193

.1603,1748,429

382, 700765,400

52,92075, 600

1,430920509252

110, 565

1.110114,473

76

60,19738, 531

214,74141,622

173,119778

1,3046,595

.055

28, 09516,214

11,04030.205

.055

.153

.14352, 902

20020,60925, 6297,0204,414

' 1,980

99,18473, 5565,620

1,448963485201

104,882

1.110105,053

75

58,14938, 737210, 69940, 491170, 208

825

1,0126,399

.057

29, 44014,002

8,66428, 792

.054

.157

.14447, 528

018,33923, 5046,2574,046

r 2,016

94,12767,1826,043

.0636. 0355,460

.1603, 5338,470

428, 200740,700

61, 60075,040

.0635,5295,630

.1603,4388,470

452. 900719,400

52. 08069, 720

1,432975457191

106, 883

1.110110,192

74

75, 90337,249208, 54839,882168, 666

847

••9466,624

.058

30, 97113,436

8,96530, 281

.055

.161

.14448,938

019,57323,1306,7184 272l', 970

87, 46162, 5976,568

.0645,3026,419

.1603,439

500, 000617, 300

51.08069,160'

LEATHER AND PRODUCTS

HIDES AND SKINS

Imports total hides and skins§ thous. of lb_.Calf and kip skins© thous. of pieces..Cattle hides© .do....Goat and kid skins© doSheep and lamb skins© do

Livestock (federally inspected slaughter):Calves thous. of animals.-Cattle -do_...Hogs doSheep and lambs do

53, 572229823

5,3253,232

440867

3,3361,378

50, 686173731

3,7234,099

445968

3,0061,569

61,899242888

3,2655,335

414968

2,7961,522

48,944215721

3,7172,371

4471,0042,9201,567

5361,1194,1571,682

476941

4,5611,424

4571,0045,7671,571

4401,0575,8311,611

392891

3,8921,407

491929

4,1341,669

502956

4,1961,570

471885

4.3201.475

' Revised. ^Excludes for East Coast district, stocks of "shuttle oil" and stocks transferred to the U. K. pool board. §See note marked "§" on p. S-29.« The publication of detailed foreign trade statistics has been discontinued for the duration of the war. b Publication of data suspended.•New series. Data on wholesale price of fuel oil beginning January 1918 appear in table 46, p. 14, of the November 1940 Survey. Data beginning 1920 for the new series

on retail service-station price of gasoline, which replaces a similar series shown in the Survey through February 1941, appear in table 10, p. 16, of the March 1941 Survey.'fExports of motor fuel revised; for data for 1913 to 1939, see table 54, p. 16, of the December 1940 Survey; for data for all months of 1940, see note marked "f" on p. S-28

of the August 1941 Survey. Data beginning January 1941 include mineral spirits; the comparability of the series is affected to a negligible extent by the inclusion of this item.For revised series on wholesale tank wagon (N. Y.) price of gasoline, see table 6, p. 18, of the January 1941 Survey.

!Revised data for 1939 appear in table 1, p. 17, of the January 1941 Survey. Beginning January 1942 figures for the production of natural gasoline include total sales oflquefied petroleum gas as follows (thousands of barrels): Jan., 710; Feb., 577; Mar., 556; Apr., 572; May, 4S3. The amount of such sales ha? not been included in the totalproduction of motor fuel. Prior to 1942, an indeterminable amount of liquefied petroleum gas sales has been included in total motor fuel and natural gasoline i roduction;

•Data revised beginning 1940. See note on p. S-28 of the June 1942 Survey.©Data are here reported in pieces instead of pounds as shown in the Survey prior to the April 1942 issue; earlier data in pieces will be shown in a later issue.Digitized for FRASER




1942

June

1941

June July A^st temberOcto-ber

Novem-ber

Decem-ber

1943

Janu-ary

Febru-ary March April Max

LEATHER AND PRODUCTS—Continued

HIDES AND SKINS-Continued

Prices, wholesale (Chicago):Hides, packers', heavy, native steers

dol. perlb__Calfskins, packers', 8 to 151b do

LEATHERExports:

Sole leather§ thous. of lb_.Upper leather § thous. of sq.ft..

Production:Calf and kip thous. of skins.Cat tie hides thous. of hides.Goat and kid - thous. of skins.Sheep and lamb % _ do

Prices, wholesale:Sole, oak, bends (Boston)* dol. per lb_.Chrome, calf, B grade, black composite

dol. persq. ft.Stocks of cattle hides and leather, end of month:

Total thous. of equiv. bides.In process and finished _ .doRaw _ - . . do

LEATHER MANUFACTURESGloves and mfttens:

Production (cut), total dozen pairs.Dress and semidress doWdrk do. . . .

Boots, shoes, and slippers:Exports§ ._ .. . thous. of pairs.Prices, wholesale, factory:

Men's black calf blucher dol. per pair.Men's black calf oxford, corded t ip . - .do . . .Women's colored, elk blucher . . d o . . .

Production, boots, shoes, and slippers:Total thous. of pairs.

Athletic do . . .All fabric (satin, canvas, etc.) .doPart fabric and part leather. .doHigh and low cut, leather, total do

Government shoes* doCivilian shoes:

Boys' and youths' doInfants' doMisses' and children's doMen's do"Women's do

Slippers and moccasins for hGUsewearthous. of pairs.

All other footwear do . . .

0.155.218

1,0242,5193,3444,444

.440

.529

12,6139,3713,242

256,913155,822101,091

6.754.603.60

39,153477391545

32, S663,499

1,4522,1243,6038,17014,119

3, 7691,004

0.153.234

772,268

1,0982,2533,9864,438

.425

.518

13,2918,5804,711

249,533147,718101,815

158

6.154.353.30

40,463471300854

33, 2311, 215

1,6832,5493,8729,73414,177

4,4741,134

0.150.218

114,363

1,1702,3924,2754,633

.428

.508

13,1748,4144,760

258,325155,695102,630

148

6.234.353.45

45, 237509258684

38, 2191,215

1,8252,c584,25110,29118,079

4,892675

0.150.218

244,889

1,1812,3913,3744,789

.431

.510

13,2268,3234,903

291, 995179, 205112,790

309

6.254.353.55

45,465516225816

37,8851,360

1,6962,4874,05210,35517,935

5,588435

0.153.218

1,3683,346

1,0842,4054,113

4,508

.441

.51613,1868,2234,963

246, 329161,28585,044

6.254.353.55

43, 815512273

1,01735, 5581,324

1,8122,4034,02510,47315, 522

6,019436

0.155.218

1,2092,6754,5684,7«6

.444

.522

13,6988,3075,391

283,285172, 898110,387

6.364.353.55

45,704555271

1,00436, 9061,474

1,9102,5854,37811,93114,627

6,516453

0.155.218

1,0142,4453,8374,408

.447

.525

14,0208,5695,451

242,441144,19798, 244

6.404.393.55

34,795478223852

27, 6441,170

1,3992,1633,4919,6009,821

5,164434

0.155.218

1,0482,5724,4414,303

.448

.529

14,0218,6915,330

193,808106,27387,535

6.404.403.55

38,451442337

1,05232, 6541,737

1, 5352,2963,88810,41012,789

3,509459

0.155.218

9222,6664,2264,163

.448

.531

14,223S,9585,265

185, 111108,08077,031

6.404.55

39,828358436

1,35234,8992,223

1,?932,1463,8059,871

15,461

1,956827

0.155.218

9742,5024,0054,555

.448

.531

14,0528,9235,129

225,746139,856

6.404.603.60

40,006377454

1,35634,1102,336

1,4102,0293,6599,36815,308

2,6741,036

0.155.218

1,0402,6294,4144,462

.453

.531

13,4138,9004,513

• 252,658159,29693,362

6.404.603.60

45,106572643

1,24738,2202,954

1,5132,3403,7609,640

18,013

3,2971,127

0.155.218

1,0062,6844,3204,552

.449

.529

12, 7478,8793,868

264, 543161,845102, 698

6.754.653.60

45, 590620535

1,05638, 3623,858

1,5262,3723,7519,73017,127

3,6071,410

0. 155.218

'989\2, 577

3,6314, 90S

. 449

.529

<12,389-' 8,898' 3, 491

279, 927175, 278104. 649

4. til3. 00

'40, 771' 504'478'883

• 34,046' 3,614

'1 .412' 2,187' 3. 344' 8, hbl14,932

' 3, 577' l , 2 8 o

LUMBER AND MANUFACTURES

LUMBER-ALL TYPESExports, total sawmill products.._.._M bd. ft.

Sawed timber § _do_..Boards, planks, scantlings, etc.§ . .do

Imparts, total sawmill products do . . .National Lumber Mfrs. Assn.:f

Production, total .mil. bd. ft.Hardwoods do . . .Softwoods do_--

Sbipments, total do . . .Hardwoods .doSoftwoods do___

Stocks, gross, end of month, total doHardwoods _ _do._.Softwoods d o . . .

FLOORINGMaple, beech, and birch:

Orders, new. ._ M bd. ft.Orders, unfilled, end of month doProduction. _ do . . .Shipments.. . .doStocks, end of month. . . . d o . . .

Oak:Orders, new. _ .do. . .Orders, unfilled, end of month d o . . .Production. d o . . .Shipments d o . . .Stocks, end of month . do . . .

Douglas fir: SOFTWOODSExports, total sawmill products§...M bd ft..

Sawed timber§ d o . . .Boards, planks, scantlings, etc.§. d o . . .

Prices, wholesale:Dimension, No. 1, common*

dol. per M bd. ft.Flooring, B and better, F. G., 1 x 4, R. L.*

dol. per M bd. ft.

2,861375

2,4863,053

4302,6234,8431,2683,575

7,8758,9507,6257,675

12,100

17,91130, 47930, 56224, 92072, 341

32. 340

44.100

51,9777,404

37,422115,745

2,786385

2,4012,875

4202,4556,6501,4885,162

10,35011,4508,750

10,12516,675

53, 48979, 51648,68652,14661, 580

19,9015,940

13, 961

24.990

35. 280

84,2727, 557

67,635135,018

2,946383

2,5633,115

4282,6876,4891,4445,045

12,80013,9258,200

10,32514,800

60, 52481,98861,86557,15051,038

18, 7436,615

12,128

25.970

36.260

61,79311,37146,586

178,887

3,113387

2,7263,236

4162,8206,3571,4144,943

9,05013,1758,9509,800

13,425

44,78174,30549,92553,46444,962

28, 0697,915

20,154

25.970

36.260

51,1637,250

34,090152,190

2,926387

2,5392,986

4232,5636,2941,3774,917

7,00011, 5007,6008,800

12,200

36,36360,46047,43248,93941,955

19,9705.580

14,390

27.146

2,958403

2,5553,016

4362,5806,2311,3434,888

7,65010,9008,9008,300

12,850

40,08052,44649,22748,09443,088

28. 665

41.160

2,505372

2,1332,438

3742,0646,3171,3404,977

5,0508,9007,5007,150

13,100

28,10242, 54940,91038,01448, 278

28.910

41.160

2,503382

2,1212,491

3712,1206,3481,3554,993

7,2259,0508.0757,350

13,625

34,28642,03542, 69735,10055,875

29.498

42.336

2,316376

1,9402,515

3812,1346,1101,3494,761

7,7759,9757,1757,075

14,075

40, 74946, 23541, 64738,54960,673

32.095

44.100

2,246372

1,8742,487

3692,1185,9031,3534,550

7,1509,6007,5507,100

14,250

39,36948,09736,71937, 78858,601

32. 340

44.100

2,404361

2,0432,735

3682,3675,5951,3464,249

8,57510,5507,2757,500

14,000

34,97245,48138,69137,58859,704

32.340

44.100

2,645386

2,2593,087

3832,7045,2351,3493,886

7,30010,1257,5007,700

13,850

32, 56042, 67340, 65637,02763,333

32. 340

44.100

2. 680379

2. 3012. 955

2. 5405, 0041, S133, 691

7,2008,7507,1508,850

12,000«> t :n27, 73237,48836,28332, 91766, 699

32. 340

44.100

'Revised. §Data for 1939 revised; for exports see table 14, p. 17, and for imports, table 15, p. 18 of the April 1941 Survey.JData beginning 1940 include fleshers and exclude skivers. • The publication of detailed foreign trade statistics has been discontinued for the duration of the war.fRevised data for 1939 appear in table 17, p. 17 of the May 1941 Survey; revisions for 1940 will be published in a later issue.*New series. The price series on sole, oak, bends at Boston replaces the series shown in the Survey through the March 1942 issue for sole, oak, scoured backs at Boston.

Earlier data will be shown in a subsequent issue. Separate data for leather shoes made under Government contracts are available beginning 1941. These shoes include, forthe most part, men's dress and semidress and work leather shoes. However, a small number of pairs other than men's leather (nurses, athletic, etc.) made for Governmentcontract are included. The total has been included with men's leather shoes in issues prior to the April 1942 Survey. Data beginning 1922 for the new series on lumber pricesappear in table 16, p. 17, of the May 1941 Survey.Digitized for FRASER




1942

June

1941 1942

June Jnlv j Aumist S e p " O c t o * Novein-1 Deeem- .lanu-July | August t e m b e r b e r b e r b e r a r yFebru-

ary March April May

LUMBER AND MANUFACTURES—Continued

SOFTWOODS—Continued

Southern pine:Exports, total sawmill products M bd. ft..

Sawed timber _ doBoards, planks, scantlings, etc d o —

Orders, newt--- mil. bd. ft..Orders, unfilled, end of month doPrices, wholesale:

Boards, No. 2 common, 1x8*dol. per M bd. ft..

Flooring, B and better, F. G., 1 x4*. do. . . .Production^ mil. bd. ft..Shipmentst -- doStocks, end of month do

Western pine:Orders, newt d o —Orders, unfilled, end of montht- -doPrice, wholesale, Ponderosa, boards, No. 3

common, 1x8* _.dol. per M bd.ft..Productiont— - . mil. bd. ft-Shipmentst - ...doStocks, end of month do

West coast woods:Orders, newt - doOrders, unfilled, end of month. doProduction f - doShipmentst doStocks, end of month do

Redwood, California:Orders, new M bd. ft—Orders, unfilled, end of month doProduction doShipments -doStocks, end of month d o —

percent of normal--.

FURNITUREA11 districts:

Plant operationsGrand Rapids district:

Orders:Canceled percent of new orders,.New no. of days' production..Unfilled, end of month do

Plant operations percent of normal..Shipments no. of days' production..

Prices, wholesale:Beds, wooden.- .1926=100-Dining-room chairs, set of 6. . . . d o —Kitchen cabinets _..do..>Living-room davenports do _ _ _

Steel furniture (see Iron and Steel Section).

832871

30. 00047. 000

791848881

665

31.51676613

1,293

9181,067761864756

44, 63165, 35941, 66643, 307213,124

78.0

8.02150

75.020

101.0118.9102. 6104.2

12, 6791,15911,5201,076824

30. 28349. 580

850898

1.747

637

27.55614543

1,593

771814703761

42. 91864, 68439, 94037,700246. 446

82.0

4.02662

78.020

93.0103.994.493.3

45,111586

44, 5251,216952

31.94651.630

9311,0881,590

607642

28.03673593

1,665

776883700722831

43,02665.42242,64640.810246, 431

82.0

3.03570

77.025

95.0105.597.493.3

16, 9413.10413,837

893762

34. 55054.978

9491,0831,456

523554

29.37684611

1,733

705772822834819

30,39155, 20447, 27242, 221244,169

87.0

3.02772

82.0

93.5108.297.493 3

10, 4861,4719,015885715

33.05052. 782

898932

1,422

543479

29.97661619

1,775

679699742741821

27, 66544, 53243, 70339,068242, 763

88.0

3.03376

84.032

96.1108.299 3

I

)861633

31.01352.050

896943

1,375

542401

30.73636620

1,788

671607787760854

31, 54037,14245, 65838, 318

243, 225

90.0

4.03075

88.032

96.3111.6102.0104.2

771603

30.81352. 393

824801

1,398

387345

30.71436443

1.779

590587678617929

26. 78134, 86038, 67129,910

248, 440

87.5

5.03375

88.027

98.0113.6102.0104.2

621

30. 80453.596

809782

1,425

491421

30.42357415

1,721

946827747719971

29. 68841,69630. 69822. 877253,061

82.0

15.01559

86.0

101.2115.0102.0154.2

1,050796

30. 62054 330

825875

1,375

516519

30. 73263418

1,566

765926637623991

41.25249, 87335, 64232, 292249,176

79.0

8.02259

81.024

101.2118.9102.6104.2

868858

30. 65354. 708

738806

1,307

345464

31. 46278400

1,444

710894658692968

40, 94261,10433,12830, 208249,377

83.0

7.02058

82.022

101.0118.9102.6104.2

974940

30. 77053. 798

787892

1, 202

477472

31.52359469

1,334

759891682742929

55, 56675, 009

43, 560240, 342

79.0

8.01850

75.025

101.0118.9102.6104.2

943

30.00051.000

797992

1,007

667609

31.04469529

1,275

1,0301,029747877875

39, 40766, 07337, 96046, 562228, 068

79.0

5.02958

79.021

101.0118.9102.6104.2

30.00047.0UO

782851

'554630

31.35487533

1,229

9581,097'780863835

39, 44564,15237, 39741, 205220, 602

10.02353

78.0

101.0118.9102.6104.2

METALS AND MANUFACTURES

IRON AND STEEL

Foreign trade:Exports (domestic), total long tons..

Scrap doImports, total do

Scrap doPrice, wholesale, iron and steel, composite

dol. per long ton..Serap:*

Consumption, total thous. of short tons.Home scrap doPurchased scrap do

Stock, consumers', total. doHome scrap.. doPurchased scrap do

OreIron ore:

Lake Superior district:Consumption by furnaces

thous. of long tons..Shipments from upper lake ports doStocks, end of month, total do

At furnaces doOn Lake Erie docks do

Imports, total ..doManganese ore, imports (manganese content)!

thous. of long tons..

Pig Iron and Iron Manufactures

Castings, malleable:Orders, new short tons..Production doShipments do

Pig iron:Consumption thous. of short tons.Furnaces in blast, end of month:

Capacity short tons per day-Number

7, 04312, 62530, 98127, 7143, 267

457, 68559,01810,1906,473

38.15

i 15,61318,61117, 0025,0511,5503,501

6,23110,79026,62923,9192,710225

50

75,07571, 20970,179

113,692

153,600211

537,92159, 90511,0499,418

38.15

5,0262.7442,2824,9111,4733,438

6,49711,39031, 59728, 2573,340

196

33

77,31267,01068,310

4,670

697, 73280,25518,38016,405

38.15

5,1402,7922,3484,8141,5043,310

6, 53411,49636,46932,4574,012

223

65

68,94568,57064,250

4,822

706, 58065,4868,4894, 259

38.15

5. 0722,7832,2894,5151,4693,046

6,44810,31240,77036,1064,664206

62

64,28369,17567, 532

4,665

38.15

5, 5823,1452,4374,0891,3222.767

6,6129,59643,94638,8525,094()

70, 52884, 29682,004

5,049

38.15

5,0102,8242,1863,8291,2322,597

6, 5017,661

45, 53540, 2455,290

60,74566, 73868,983

4,766

153,190 155,020 157,165 156,265 j 156,855211 i 213 ! 216 214 | 215

38.15

5,0782,8732,2053,8021,1672,635

7,062835

40, 45735,5634,894

56,58771,31170, 744

5, 020

162,140216

4,9562,8222,1343,5031,1452,358

7,1580

33,91929. 6274,292

105, 55668, 74165, 217

4,997

159. 270217

4,7082,6432,0653,4551,1702,285

6,4030

27, 52623, 8353,691

66, 29265,14062, 724

4,554

162, 285220

5, 2212, 9 562, 2653,4601,1142,346

7.109793

20,19017, 5612,629

62, 97969. 73765. 866

5, 100

164, 675220

5,1562,9192,2373,6821,1052,577

7,0077. 857

20,06517, 5362,529

5, 2252,9322,2933,9721,0772, 895

7,24012, 67725,19922, 310

60, 398 I 54, 21971,256 ! 60,89668,459 | 61,783

4,944 I 5.030

(2) i!

0 The publication of detailed foreign trade statistics has been discontinued for the duration of the war. b Discontinued by compiling agency. r Revised.1 Data are for the quarter ended June. 2 Not available for publication.§ Data for 1939 revised; for exports, see table 14, p. 17, and for imports see table 15, p. 18 of the April 1941 issue.f Revised series. Revisions for southern pine, western pine, and west coast woods for 1939 (also revisions for 1938 for the latter group), appear in table 17, p. 17 of the

May 1941 issue. Revisions for 1940 and January 1941 will be published in a subsequent issue.*New series. The new lumber prices replace series shown in the Survey, through the March 1942 issue; data beginning 1926 are shown in table 11 (southern pine), and

table 12 (Ponderosa pine), p. 22, of the April 1942 issue. Earlier data on consumption and stocks of scrap iron and steel and consumption of pig iron not shown in the April1942 Survey will appear in a later issue.Digitized for FRASER




1942

June

1941


Octo-ber

Novem-ber

Decem-ber

1942

Janu-ary

Febru-ary March

METALS AND MANUFACTURES—Continued

23.5024.2025. 89

504842

9,325

10, 53212, 47491, 807

4.3335,16816,149

30, 48152, 65239,17140, 53811,015

IRON AND STEEL—Continued

Pig Iron and Iron Manufactures—Con.

Pig iron—Continued.Prices, wholesale:

Basic (valley furnace) dol. per long ton..Composite doFoundry, No. 2, northern (Pitts) do

Production! thous. of short tons..Stocks, consumers', end of month* do

Boilers and radiators, cast-iron:Boilers, round:

Production thous. of lb_.Shipments doStocks, end of month do

Boilers, square:Production doShipments doStocks, end of month do

Radiators and con vectors:}Production.thous. of sq. ft. heating surface..Shipments doStocks, end of month do

Boilers, range, galvanzied:Orders, new, net number of boilers. _Orders, unfilled, end of month doProduction doShipments doStocks, end of month do

Steel, Crude and Semimanufactured

Castings, steel:Orders, new, total short tons..

Percent of capactyRailway specialties short tons_.

Production, total. ..doPercent of capacity

Railway specialties short tons..Steel ingots and steel for eastings: f

Production thous. of short tons..Percent of capacity§

Prices, wholesale:Composite, finished steel. . . .dol. per lb . .Steel billets, rerolling (Pittsburgh)

dol. per long ton..Structural steel (Pittsburgh) dol. per lb__Steel scrap (Chicago) dol. per long ton..

U. S. Steel Corp., shipments of rolled andfinished steel products!._thous. of short tons..

Steel, Manufactured Products

Barrels and drums, steel, heavy types:Orders, unfilled, end of month thousands..Production do

Percent of capacity©Shipments thousands..Stocks, end of month do

Boilers, steel, new orders:Area thous. of so. ft..Quantity number-

Furniture, steel:Office furniture:

Orders, new thous. of dolOrders, unfilled, end of month doShipments do

Shelving:Orders, new doOrders, unfilled, end of month doShipments do

Porcelain enameled products, shipments!thous. of dol..

Spring washers, shipments • doSteel products, production for sale:f

Total thous. of short tons_-Merchant bars doPipe and tube doPlates do.---

Percent of capacity*Rails thous. of short tons..Sheets, total do

Percent of capacityStrip:

Cold rolled thous. of short tons..Hot rolled do

Structural shapes, heavy doTin plate. . doWire and wire products do

Track work, shipments short tons.. | 14,410

.0265

34.00.021018. 75

1,6521,74995.9

1,74142

2.2171,204

1,2031,8192, 2,P6

1, 4592, 939],434

4, 239302

23.5024.1525.894,5531,834

1,7411,47415,096

25,31920, 382130, 339

7,1336,453

32, 817

105,07672, 25880,02385, 78431, 534

161,512138.0

80, 065113,988

97.445, 073

6,793

.0265

34.00.021018.75

1,2141,61988.81,619

39

1,5861,415

5, 8517,3354,095

1, 5251,8501,130

5, 511375

4,75443944946692.216899993.8

102154373292417

11,210

23.5024.1525.894,7711,964

1,8632,00314,951

21, 51426,426125, 376

6,1518,671

30,263

85,07777,80972,97079, 52624, 978

175,892150.3

77, 669112, 364

96.043, 320

6, 812

.0265

34.00.021018.75

1,667

1,3171, 55885.41,549

48

2,2701,601

4,9817,9394,349

1,1821,9321,082

5,608366

4,91944348048290.615199190.4

99137366332404

10. 642

23.5024.1525.894,7911,940

1,9362,66914,024

26, 50538, 894113,130

7,09811,69625, 584

68,85486,45163, 72960, 21228,495

147, 316125.9

52, 207117,703100.6

44, 290

6,997

. 0265

34.00.021018.75

1,754

1,4971,59087.1

1,60037

1,4111,246

4,5988,0854,452

9991,7651,166

5,807338

5, 234447485532

99.7146

1,01892.4

106130391360434

10.236

23.5024.1525.894,7171,874

2,1482,741

13,405

27, 59134,899105,759

7,67510,90122, 394

80,046101,01658,63565,48121, 615

115,06698.3

32, 882118, 543

101.343,995

6,812

.0265

34.00.021018.75

1, 664

1,4921,71393.91,711

40

1,7471,131

3,9327,7864, 314

1,2842,0221,027

5,802

5,059431464519

112.212795488.5

104134372325420

10, 439

23.5024.1525.894,8561,655

2,0913,48311,912

29,46137,36097,896

8,26710,49420,154

74, 581101, 60969,97273, 98817,599

117, 516100.4

32,935135, 272115.6

49,891

7, 236

.0265

34.00.021018.75

1,851

1, 8501,78197.61, 777

43

1,34]957

3,8967,3294,352

1,8371,173

6,208321

5,471503531587

124.1161

1,05394.1

110136407342432

12,403

23.5024.1525.894,7031,570

1,1331,92211,168

21,10424, 50293,669

5, 7877,695

18, 271

52, 60593, 96658, 81060, 24816,411

84, 53472.2

16, 549104, 605

89.433, 383

6,961

.0265

34.00.021018.75

1,624

1,7621, 58686.91,604

25

3,7551,310

3,4226,8403,912

8581,6781,016

5,371276

4,909456415564

122.813594587.5

23.5024.1525.896,0121,581

1,1151,44811,182

19, 64217,38092,998

6,7637,390

17, 567

41, 34380,84455,85654, 46517,785

113,03496.5

26,839131, 518112.4

45, 640

7,150

.0265

34.00.021018.75

2,0471,859101.91,851

34

1,929997

4,6127,1054,338

1,3651,058

5,598292

5,144490484629

132.6144889

80.1

101140381323396

11,711

106135369367398

12, 247

23.5024.1525.894,9711,473

7321,484

10,146

18,75617,04494,832

6,7176,175

18,106

42, 78172,36650,55751, 25917, 212

150, 551128.6

35,723134,778

115.246, 357

7,12595

.0265

34.00.021018.75

1,739

2,1491,952107.01,954

36

2,8131,010

4,4907,3354,236

1,0821,4051,012

5,143290

5,170511446700

118.213389581.7

101138403317407

10, 266

23.5024.1525.894,5021,400

7541,4089,493

23.5024.1725.895,1131,286

1,0121,0839,421

17, 773 16,21419,081 15,78993,525 93,950

6,1996,78117, 524

53,80977,19049,21748, 98517,444

i

6,4455,656

18,313

62,01076, 75064,84762, 45019, 841

179,880153.7

54,409133, 726

114.345,013

6,52196

.0265

34.00.021018.75

211,081180.4

43,997146, 507

125.248,335

7,393

.0265

34.00.021018.75

1,617 I 1,781

2,2301,845101.11,848

34

2,3711,035

3,1946,3404,188

1,0941.490'994 I

5,289295 j

4,762485419726

134.812276577.5

119354261352

13, 650

1,8932,416132.42,420

29r 9, 695' 2,822

3,7515,5304,560

1,5101,8701,130

5,841341

5, 273563465838

139.517185777.7

82119392264403

14,107

23.5024.2025.89(«)1,232

1,071938

9, 554

15,02616, 30192, 675

5, 3996,38417, 328

38, 01468, 88442, 42745, 88016,388

191,195163.4

26, 558149, 625127.8

45,158

7,122

.0265

34.00.021018.75

1, 759

1.7972,067113.32,046

50

r 3, 715' 1, 593

2, 7554,1554,130

1,4182, 2731,015

5, 560334

()(a)

(a)

(a)

(a)

(a)(a)(a)

(a)

(a)

(a)

(a)

(a)

13, 002

24. 20

905

9. 673

11.494r 8. 54693, 749

4.317r 4. 13117.002

31.45$.62. 7(#33. 62737. 633] 2. 382

199. 619170. fi

11.025131, 492

112.325, 644

7, 38798

. 0205

34.00.021018. 75

1, 834

1.5511. 780

97. 01,790

34

r 3, 250r 1, 340

2.9063.4144. 204

i.ooe2, 7031. 115

4. 521

r Revised. CData for 1P41 revised after a special survey of the industry; for revised figures for all months of 1941, see p. S-31 of the May 1942 Survey.° Data not available for publication.^Data for 1941 and 1942 include convectors and convector-radiators. Data for these items are included in part in earlier figures published in the Survey; 1940 data revised

to include these items for all reporting firms will be published later.•Data cover 9 firms beginning December 1941; the increase in reporting firms from 7 to 9 in late 1941 did not materially affect the coverage of the data.^Monthly data beginning 1929, corresponding to the monthly averages on p. 132 of the 1940 Supplement, appear on p. 18 of the April 1940 Survey.§Beginning January 1942, percent of capacity is calculated on annual capacity as of December 31,1941, of 88,566,170 tons of open-hearth, Bessemer, and electric steel ingots

and steel for castings; data for July-December 1941 are based on capacity as of June 30, 1941 (86,144,900 tons), and earlier data on capacity as of December 31, 1940.tRevised series. Data on pig-iron production beginning 1913 are shown in table 38, p. 14, of the October 1940 issue. For data on steel production beginning 1917 and

percent of capacity beginning 1926 through 1939, see table 9, p. 16, of the March 1941 issue, and for subsequent revisions in 1940 data, see p. 49 of the June 1941 issue. Porcelain-enameled products revised beginning 1939 to include data for 99 manufacturers; for 1939 data, see p. 49 of the March 1941 issue. For steel products, production for sale beginning1933, see table 45, p. 14, of the November 1940 issue.

*Earlier data on pig-iron stocks not shown in the April 1942 Survey and earlier data on percent of capacity for steel plates not shown in the September 1941 Survey w i 1 \be published in a subsequent issue.


S-32 SUEVEY OF CURRENT BUSINESS August 1942


1942

June

1941


Octo-ber

Novem-ber

Decem-ber

1942

Janu-ary



NONFERROUS METALS

MetalsAluminum:

Imports, bauxite _ long tons...Price, wholesale, scrap, castings (N. Y.)

dol. perlb..Bearing metal (white-base antifriction), con-

sumption and shipments, total (60 manufac-turers)!. thous. of lb_.

Consumption and shipments, 38 mfrs.QConsumed in own plants. doShipments do

Copper:Exports, refined and mfrs.§ short tons..Imports, total § do

For smelting, refining, and export§_..doFor domestic consumption, total* do

Unrefined, including scrap* doRefined* do

Price, wholesale, electrolytic (N. Y.)dol. perlb..

Production:Mine or smelter (including custom intake)

short tons..Refinery _.do

Deliveries, refined, total.. doD omestic cf - doExport do

Stocks, refined, end of month doLead:

Imports,total,ex.mfrs. (leadcontent)_.doOre:

Receipts, lead content of domestic ore. doShipments, Joplin district! do

Refined:Price, wholesale, pig, desilverized (N. Y.)

dol. perlb..Production from domestic ore..short tons..Shipments (reported) doStocks, end of month ..do

Tin:Consumption of primary tin in manufactures

long tons-.Deliveries (includes reexports)* doImports, total (tin content)*. do

Ore (tin content)* doBars, blocks, piss, etc do

Price, wholesale, Straits (N. Y.)..dol. per lb_.Visible supply, world, end of mo. Jong tons..

United States (excluding afloat) doZinc:

Imports, total (zinc content)* short tons..For smelting, refining, and export*.. .doFor domestic consumption:

Ore (zinc content)* doBlocks, pigs, etc., and old* .do

Ore, Joplin districtsShipments _.short tons..Stocks, end of month do

Price, wholesale, prime, western (St. Louis)dol. perlb.

Production, slab, at primary smelters:Jshort tons.

Shipments, total {. doDomestic* do...

Stocks, refinery, end of monthj ...do._.

Miscellaneous ProductsBrass and bronze (ingots and billets):

Deliveries short ton:Orders, unfilled, end of month do

Sheets, brass, wholesale price, mill.dol. per lb._

MACHINERY AND APPARATUS

Blowers and fans, new orders thous. of dol__Electric overhead cranes:

Orders, new .do...Orders, unfilled, end of month .do...Shipments do...

Foundry equipment:!New orders, net total 1937-39=100.

New equipment doRepairs do.._

Fuel equipment and heating apparatus:Oil burners:

Orders, new, net- number.Orders, unfilled, end of month do...Shipments do...Stocks, end of month do...

Pulverizers, orders, new ..do...

. 0875

3,163

4631,646

.1178

(a)

(a)

(a)

(a)

C)(a)

4, 794

.0650

.5200

46, 2793,500

.0825

()(a)

(a)(a)

.195

2,83534,1902,768

774.0884.4441.5

121,484

.1101;

6,378

7502,806

8,12041,4728,996

32,47616,96915,506

.1181

82, 55888, 560121,373121,331

4298,164

33,374

37,1553,824

.058538,66957,96924,265

7,90014,88015, 2663,71411, 552.5267

38, 6002,846

14, 7458,372

2,6383,735

36,9285,000

.0725

70,83771,56961, 54611,101

15,30830, 762.195

8,818

1,76912,9611,678

281.1273.3304.7

32,52122,44832,68527, 202

61

95,794

.1100

5,538

6992,838

11,07769,83816,47053,36816,23337,135

.1181

82,09986,879150,111150,078

3374,384

22,160

36,4645,482

.058542,04854,06719,172

12, 57516,2851,520

14, 765.5335

5,864

11,4155,624

2,3623,428

44,8824,730

.0725

74,64171,89462,71413,848

15,67230,891.195

2,06413, 7441,287

358.1368.4326.9

28, 51123,11427,84533,017

72

90,960

.1100

5,767

9832,696

10, 58971,15313,37357,78019, 87237,907

.1178

84,69585,426119,937119,937

071,930

47,891

38,2284,576

.058539,10055,00515,330

8,83013,62517, 7196,14411. 575'. 5236

2,393

22, 7418,040

10,9353,766

37, 6555,250

.0725

75, 52471,40360,86117, 969

17,18030,646.195

1,13113,4981,364

312.9298.2356.9

31,14022, 88531,36931,940

44

86,462

.1100

5,830

9113,066

10,19870,58115,54655,03420,06334,971

.1178

81,83981,553125, 585125, 585

063,670

65,401

38, 2595,603

.058541,37347,09313,148

8,83012, 71514, 3112,11512,196.5200

1,767

24, 34211, 704

9,2233,415

46, 2508.160

.0725

73,22571, 76764,62319,427

16,38828,981.195

9,579

2,09813,8141,923

363.8372.0339.2

34,14322, 32134, 70727, 294

42

.0936

5,621

7572,931

.1178

86,01986,617126,766126,622

14467,260

39,390

.058537,22143,53710,735

8,7608,000()

.5200

"I," 127"

C)C)

39, 2204,730

.0794

76,15673,98961, 52521, 594

1,76813,5032,071

403.8414.2327.2

27,45118, 35831,41427, 099

61

.0931

4,754

7232, 548

.1178

84,71884,799124,645124,645

072,352

40,9304,291

.058541,56645,98013.671

8,2908,355

.5200

"2," 186"

37, 2675,130

.0825

74,86173, 27361,01423,182

.195

2,23913, 7311,955

408.5417.4381.7

20, 20216, 74721,81327, 304

43

.0938

4,753

8132,399

.1178

88,46389,940138,585138,585

075,564

40,9014,977

.058548,82950,68020.185

9,5707,700

.5200

~3~5(J6~

47, 685900

.0825

78,65477,77065,65824,066

.195

8,067

3,16314, 6542,216

481.2505.3408.7

23,22518,05721,91528, 900

46

.0873

5,506

6972,795

.1178

88,25490,017130,467130,467

081,371

43,2243,231

.062843,30753,03720, 531

.5200

"W"

28,8124,130

.0825

79,27679,41767,25223,925

.195

5,92718,4152,079

532. 7570.6418.5

• 19, 674• 18, 418' 19,159' 27,601

109

3,745

5621,885

.1178

80,14881, 724107,616107,616

077,329

41,8283,690

.065045,63345,92024,830

.5200

36,6872,550

.0825

73,47674,77559,95722,626

.195

5,57721,6222,197

567.9636.6361.4

16,00616,42817,99628,124

22

.0875

4,599

5942,198

.1178

92,10689,552111,062111,062

079,537

43,3975,576

.065050,91957,59027,160

.5200

48,224500

.0825

79,13980,06361, 56421,702

.195

10, 205

9,62428,5632,577

1,122.31,352.7428.8

14,84417,05114, 41229,947

43

.0875

r 3, 578

667«• 1, 484

. 1178

94, 29590, 672106, 701106, 701

083, 789

43,1712,348

.065052, 04954, 72631, 374

.5200

34,1192,940

.0825

77,03476,17763,81922, 559

.195

6,37832,2652,561

1,089. 31, 307. 7432.1

3,541

5281,711

.1178

101, 68398, 632134,079134, 079

077, 383

3,638

.065047, 78152, 87429, 707

.5200

34,4814,240

.0825

79, 48983, 60166, 73618,447

.195

6,23634, 4712,511

653. 6730. 2423.3

10, 88316, 33411, 60034, 509

62

10,17,9,

39,

680843171277

39r Revised. ©Data cover 37 manufacturers beginning January 1942, one having gone out of business.* The publication of statistics has been discontinued for the duration of the war.* Deliveries are now reported for a larger number of companies than formerly and are not comparable with earlier data; no data for unfilled orders.§Data revised for 1939; for exports see table 14, p. 17, and for imports see table 15, p. 18, of the April 1941 issue.•Represents deliveries of foreign virgin tin; virgin tin produced in the United States from foreign ores is not included.{Revised to include foreign ores beginning January 1940; see p. S-32 of the October 1941 Survey for earlier data.cf Beginning March 1941, includes deliveries of duty-paid foreign copper for domestic consumption."JData for July, September, and December, 1941, and March and June 1942 are for 5 weeks; other months, 4 weeks.*New series. Earlier data for the new break-down of copper imports and the new series for tin and zinc imports will appear in a later issue. For domestic shipments of

zinc beginning January 1940, see p. S-32 of the October 1941 Survey.fRevised series. Data beginning January 1939 for the new series on bearing metal will be published later (see also note marked with a "t" on p. S-32 of the December

1941 Survey); one of 60 reporting manufacturers went out of business before January 1942.. For series on foundry equipment, see note marked with a "I" on p. S-32 ofthe September 1941 issue.




1943

June

1941


Octo-ber

Novem-ber

Decem-ber


1942

Janu-ary


MACHINERY AND APPARATUS—Con.

Mechanical stokers, sales:Classes 1, 2, and 3 number..Classes 4 and 5:

Number -Horsepower

Unit heaters, new orders thous. of dol..Warm-air furnaces, winter air-conditioning

systems, and equipment, new ordersthous. of dol__

Pumps and water systems, domestic, shipments:Pitcher, other hand, and windmill pumps

units. .Power pumps, horizontal type. doWater systems, including pumps do

Pumps, steam, power, centrifugal, and rotary:Orders, new thous. of dol__

ELECTRICAL EQUIPMENT

Battery shipments (automotive replacementonly):

Unadjusted 1934-36=100..Twelve-month moving totalf doDomestic appliances, sales billed:

Combined index, excluding refrigerators:*Unadjusted index 1936=100..Adjusted index do

Ironers, household .units. .Ranges* doRefrigerators doVacuum cleaners, floor type .doVacuum cleaners, hand type doWashers, household do

Electrical products:Industrial materials, sales billed... 1936=100..Motors and generators, new orders doTransmission and distribution equipment,

new orders 1936=100-.Furnaces, electric, industrial, sales:

Unit ..kilowatts..Value thous. of dol..

Electrical goods, new orders (quarterly)thous. of dol..

Laminated fiber products, shipments doMotors (1-200 hp.):

Polyphase induction, billingsX doPolyphase induction, new ordersj doDirect current, billings doDirect current, new orders . . .do

Power cable, paper insulated, shipments:Unit thous. of ft . .Value .thous. of dol_.

Rigid steel conduit and fittings, shipments*short tons. .

Vulcanized fiber:Consumption of fiber paper thous. of lb_.Shipments thous. of dol_.

5,703

21,401

40093, 5154,450

11,357

36,475975

32,270

2,613

137139

202.7183.9

20,28368, 629

1378,054146,88935, 783188,365

237.1406.5

289.1

11, 626945

581,6752,791

5,4557, 7501,7254,257

1,3211,655

3,7621,100

26,050

40391, 051

46, 5721,17633,894

3,113

167142

199.6204.521,24664,476

339, 421155,84331, 977

213,862

240.8444.1

335.9

11,644976

2,822

5,9836,2001,8674,512

1,5101,860

26, 540

3,5951,178

28,244

48791, 429

45, 6821,20933,503

3,692

228145

158.6162.918.47850,759

270, 543150,62027, 686148,811

243.0307.0

288.8

18,3121,522

2,803

5,7655,8251,7613,395

1,4181,729

27, 681

3,6831,302

26, 720

41883, 2226,482

19, 552

39,5271,29532,400

2,459

246149

193.2193.314,54566,206164, 521182, 55033,239145,194

254.5370.0

360.4

22,2911,733

629,0283,102

6,0166,5601,8433,057

1,2441,807

28,879

3,7851,183

22,888

40175, 296

41,3601,376

33, 907

2,394

253152

157.7167.815,91651,730132,972127,19021, 730147,390

272.8332.8

384.7

12,9241,060

3,363

6,2986,9032,3142,903

1,4872,052

26,412

3,9581,202

10, 613

26453,020

37, 6681,498

28,221

2,368

182151

118.4167.1

10, 35238,35092,034109,61820,367103,288

238.1329.7

355.7

8,617646

2,997

5,3885,4102,0742,860

1,0671,536

24,817

3,5251,031

8,303

28972, 2297,062

15,001

31,663984

28,198

2,459

185153

142.8207.412. 97448,705100,572113,41614,446113,054

252.8425.2

283.7

12,2981,149

583,2143,151

6,9578,1762, 5524,602

1,0541,694

28,840

3,7381,107

24667,011

41, 5341,150

23, 788

4,138

111154

109.9138.112,43930,196

135,913102, 29221,28893, 341

264.6468.8

286.4

21, 5201,882

3,370

6,0617,0862,1403,974

9581,475

22, 834

3, 4511, 024

31681,890

• 40, 528359

• 24, 437

5,784

180162

136.0145.013,06739,945

108,77716,157114,242

247.0343.0

299.0

23,9612,491

3,151

6,4177,4092,2943,056

9281,119

22,838

3,681956

10,972

29677,7705,481

7,423

• 43,117167

• 26, 672

161169

121.091.0

27,820

95,74116,029

283.0909.0

471.0

45,6744,551

759,0633,641

6,74313,1893,0978,313

6051,062

25, 572

3,9871,107

9,573

41689,318

37, 672219

27, 989

4,334

91169

93.072.0

19, 756

288.0859.0

472.0

148, 55610, 367

4,722

33177, 635

27, 48097

24,204

4, 634

65167

47.037.0

291. ft1, 008. 0

318.0

34, 2103,177

3,699

7,60412, 6974,41810,196

578934

26,499 22,987

3,900 4, 2281,145 I 1,215

PAPER AND PRINTING

WOOD PULP

Consumption and shipments:0§Total, all grades ...short tons..

Sulphate, total ...doUnbleached do

Sulphite, total. doBleached do

Soda doGroundwood do

Exports, total, all grades* doImports, total, all grades* do

Sulphate, total* doUnbleached * do

Sulphite, total* _doBleached* doUnbleached*.. -...do

Groundwood^ doProduction^

Total, all grades. ...doSulphate, total . do

Unbleached doSulphite, total ...do

Bleached .doSoda doGroundwood _do

S tocks, end of month:§Total, all grades do

Sulphate, total doUnbleached ..do.._.

Sulphite, total doBleached do

Soda doGroundwood do I

833,928388, 518337, 371254, 736150, 81545, 291145, 383

840, 589394, 702342. 983253, 078148,83045, 484147, 325

168, 70029, 70023, 30040, 20023, 7004, 600

94, 200

814,436369,148307, 785242,084144, 52852, 332150, 87214,174

105,03116, 44711,90370, 59835, 21935,37916, 732

805,562366, 050305,192239, 069144, 50351, 857148, 586

163, 40026, 00020. 40060, 90041, 7006,50070, 000

811,364360,235302,328251, 650149, 40552,229147, 25035, 38790,50111,8587,799

57, 36928, 93028, 43920,149

779, 753354, 337297, 521238, 725139,92150, 766135, 925

131,80020,10015,60048, 00032, 2005,00058, 600

847,576387, 475326, 769257, 727154,17454,141148, 23319,378109,83115,25510,55275, 11138.05537.05617,626

824,760384, 345323, 261250, 462147, 21454,587135, 366

109,00017,00012,10040, 70025, 2005,500

45, 800

811,093367, 850313, 576245, 856143,06551,031146, 35613, 82898,02714,5309,757

65,15832, 52432,63416, 804

797,725366, 776312,949243, 713142, 00050, 008137, 228

95,60015, 90011, 50038, 60024, 2004,50036,600

859, 056379, 349324,881259, 516144, 39654,167166,024

863, 786378, 087324, 352259, 685143, 45853, 594172,420

95, 40015,10010, 30041, 30024, 3003,200

35, 800

847,617374,877325, 665258,254147,80253,276161, 210

847, 732373, 737324, 942253, 004145,13853,413167, 578

95, 50013, 9009, 60036,10021,6003,400

42, 200

903,188402. 996348,105270, 666153, 99256, 543172, 983

918, 085405,729349, 677274, 724156,25256, 505181,127

110,50016, 70011,10040,10023, 9003,400

50,300

826,497373,289318,510248,964140, 78451,814

152,430

827,823371, 572317,977246,942141,54452,124157,185

111,80014, 90010,60038,10024, 6003,600

55,100

921,872422,107367, 071272,530154,83457,161

170, 074

945,385426,818371,045277,408158,44057,120184,039

135,10019,70014,60042,8C028,2003,60069,100

916, 497416, 206361,796279,045162, 74954, 635

166, 611

912, 434412,784

'359,315265, 639150, 65754, 368179, 643

131,10016, 20012,10029, 40016,1003, 30082,100

• 875,085421,243• 368,784246,655138,24951, 366

155, 821

906,049428,479374,412259,072147,79152, 461

166, 037

162,000' 23, 500r 17, 700r 41, 80025, 7004,400

92, 300

* Revised. * Preliminary. « See note " ° , " p. 30. •Domestic pulp used in producing mills and shipments to market.% Shown in 1940 Supplement and monthly issues through February 1941 as A. C. motors. TData revised for 1939; see table 15, p. 18 of the April 1941 issue.§ Data have been revised beginning January 1939; the revised data will be published in a subsequent issue. All data shown above are estimated industry totals fur-

nished by the U. S. Pulp Producers Associatian.*New series. For data beginning 1931 on unit sales of electric ranges, see table 52, p. 18 of the November 1940 issue (for revision in note regarding coverage of the data,

see note marked with an "*" on p. S-33 of the October 1941 Survey). Data beginning 1937 for shipments of rigid steel conduit and fittings are shown in table 34, p. 26, ofthe November 1941 Survey. Earlier monthly data for the indexei of domestic appliances are shown in table 38, p. 21, of the January 1942 issue. Data beginning 1913 for ex-ports and imports of wood pulp are shown on p. 13 of the October 1940 issue.

tRevised series. This series replaces the adjusted index; earlier data will appear in a subsequent issue.Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis



1942

June

1941


Octo-ber

Novem-ber

Decem-ber

1942

Janu-ary

Febru-ary March April M a v

PAPER AND PRINTING—Continued

WOOD Pl'LP—Continued

Frees, wholesale:Sulphate, Kraft NTo. 1,unbleached*.dol.per 1001b.Sulphite, unbleached do

PAPER

Total paper, incl newsprint and paperboard:fProduction ._ . . . .short tons,.

Paper, excl. newsprint and paper board :fOrders, new. . . . short tons. .Production doShipments do

Book papertcfCoated paper:

Orders, new short tons..Orders, unfilled, end of month doProduction do

Percent of standard capacityShipments .-short tons..Stocks, end of month do

Uncoated paper:Orders, new doOrders, unfilled, end of month doPrice, wholesale, " B " grade, English finish,

white, f. o. b. mill. ..dol. per 1001b..Production short tons..

Percent of standard capacityShipments short tons..Stocks, end of month do

Fine paper :fOrders, new doOrders, unfilled, end of month . . . .doProduction doShipments . .doStocks, end of month . . do

Wrapping paper:fOrders, new doOrders, unfilled, end of month . . doProduction doShipments doStocks, end of month . . _ do

Newsprint:Canada:

Exports. doProduction.. _ doShipments from mills doStocks, at mills, end of month.. . do

United States:Consumption by publishers doImports doPrice, rolls (N. Y.) dol. per short ton..Production short tons..Shipments from mills do.Stocks, end of month:

At mills do . . . .At publishers do.In transit to publishers - do.

Paperboard:Consumption, waste paper... do.Orders, new do.Orders, unfilled, end of month do.Production do.

Percent of capacityWaste paper stocks, at mills short tons..

8, 4493, 907

10, 33337. 0

9, 82414, 070

?0. 06451,326

7. 3093,679

73.994, 70354, 118

242, 762253, 283158, 888

222, 244

50. 0079. 38678,413

17,049402, 401

36, 442

296, 938379, S75183,985425, 175

72.4414,775

PRINTING II

Book publication, total no. of editions jNew books do . . .New editions do I

Continuous form stationery, new orders Ithous. of sets.. i

Sales books, new orders. _ thous. of books. J

3.6253.463

3.625 I3.463

3.625 j3.525 i

3.6253.713

3. 6253. 713

,089,552 1,090,981 1,156,900 -1,132,309 [1,238,030

558,810501.177515.878

26,13223, 35422f 91386.8

23. 38812, 745

139, 598124, 865

128, 939105.1

130, 58947, 614

66,94779, 56049.18651,20157,838

194,352193,056181,924181,92879,083

263,659273,697281, 843165,898

242,404252,87250.00

83,96285, 424

12,065277, 68149,687

374,185525, 325383, 534504,413

92.3264,631

894708186

262, 59126,137

576,166504, 162522, 296

24, 96724, 74123, 80886.7

23, 90512,587

143, 528136,394

6.95126, 564101.6

129, 22443, 755

71,168102. 59149. 62953,66451,194

195,280199,691184,619186,70677,634

303.126293,483300, 236159,145

215,012247,10350.0083.19984,641

|10,623 I

320,602 i40,451

384,765569,252435,891503,620

85.6272,317

695 |593102

195,36126,219

572,131528,192537, 925

28,11327.50325,24891.2

25, 27312, 637

139, 643143, 209

7.30138, 599107.2

136,18047, 932

546, 476515, 247522. 578

561,183567, 294581, 324

120,60254,07356, 52349,078

195,492200,233190, 581195,01770, 545

275,223293,054296,985155, 214

224, 361254, 89450.00

83, 59280, 756

13,459345.15838,706

411,073565,853452,966545,116

95.9237,339

21,03224, 77224, 79192 2

24, 69212, 762

134, 790145, 861

7.30128, 983105.0

132, 72043,828

65,527126,09755,11556,06248,970 |

183,054199,450186, 853185,41871,809

293,181298,276305,010148,480

239,098242, 57050.0078, 65780,252

11,864341,88446,608

422,361542,792444,736538, 405

95.0218, 257

24, 27621, 64629 049100.0

28, 70313, 514

135, 649134,649

7.30145, 887111.0

146, 52343,115

66,982131, 87659, 60763,82643,923

197,035191,666204,790205,92170,770

i

3.625 ;3.713 :

3. 6253.H3

3.6253. 713

3.6253.713

1,161,122 11,177,426

494.691 523.09654^.855 550,696541, 125 557,951

985 i774 i211 |

219,32626, 544

903780123 ;

271,20327,878

1,249,415 j 1,132,586

570,366584. 728579,162

490,3581525,743524,645

321,664318, 787304,685162, 582

262. 488

50.0087,06887, 318

I11,614 I

334,52946,570 I464,446595,634446,023583.668

98.9189,163

20. 30017, 67725,859

96.225,62813, 713

115,160119, 869

7.30136, 659

109.8133,06747,271

52,773127,734

58, 24260,05342,430

171,950176, 775186, 799188,07668,960

298,938300,308320,860142,030

19, 28614, 72325,526

91.325,43513, 745

120, 759107,441

7.30132,236

102.6133,45845,273

61,948119,84760,17660,88141,318

195,773172,528197,408196,88070,422

298,380300,823319, 282123, 571

21, 35413,13825, 439

87.625, 38013, 719

137,942106,153

7.30143, 583

108.9141,828

45, 968

66,766115,708

61, 76662,79239,674

205, 436167,838211, 630211,880

70, 689

268,110311,904291, 998143,477

14,7699,413

19,66176.2

19, 95813,408

110,70892,394

7.30129,403

109.3128,712

46, 738

53,211112,775' 55, 699

57,92637,024

181,150161,842187,990185,34870,039

254,799278,101264,621

i 156,957

3.6253.713

1,224,765

• 535,913•565,900•549,851

13,7086,52317, 20061.5

17,02713,696

119,34881,642

7.30133,316105.0

130,26649,733

55,029104,91562,46861,05238,120

203,361160,881208,188203,32374,091

269,749295,835308,166144,626

)C)

1 194 724,1,102,122

•481,111 j 427,930• 561,402 I 530, 692•544,114 ! 511.035

13,4014,92215, 46755.3

15, 39913, 543

8, 8964, 86711,20140.1

11,16113, 570

106,690 i 88,99268,283 | 55,412

7.30 i124,607 ;

98.2 i121,980 i52,335 i

••46.505 :' 79,757'62,167'59,691 I' 40, 529 !

199, 272151,056210, 318209,12075, 598

7.30114, 111

89.4111,08855, 586

40,16764, 76658, 97156, 43042, 960

187,460131.933207, 863204, 40279, 244

230,324 | 247,983277,741 | 251,831238,346 1 266,443184,021 ! 169,409

263,889 j 274,471 ! 231,961 | 216,109 j 251,042 i 238,493 242,372

50.00 50.00 50.0082,621 ! 81,680 | 84,62884,331 ! 83,998 80,787

0,904 | 7,586 11,427333,120 I 330,259 366,23653,459 I 55,037 i 46,362

419,770 I527,829 !433,788 |536,646 |

98.5167,424 i

874 1,190767 982107 208

299,591 j28,278

223,49224,859

437,902521,866404,121545,050

92.6186, 522

833 ;

716 i117 ;

261,913 '23,307

425, 878581,502406, 348580, 059

96.8181, 456

753645108

50.0076,23475, 247

12,370,55,

390,508,389,530,

198,

50.00 • 50.0080,923 ! 82,66982,176 ' 81,182

11,161368,52047, 376

438,591542,432349,434577,942

98.6241,178

804674130

743586157

12.648 j383,384 i44,843 !

411,110495,547 !297,904 j550,653

94. 0308, 903

782657125

50.0080,04076, 612

16,076384, 75839, 025

352, 972428, 77S228, 701491, 390

83.8371,086

1,03681821S

262,613 I 257,791 j 300,717 i 206,078 109,90424,979 | 22 ,806 | 22,878 | 19,072 18.101

RUBBER AND PRODUCTS

CRUDE AND SCRAP RUBBER •

Crude rubber:Consumption, total long tons.

For tires and tubes (quarterly) doImports, total, including latext do. . . .Price, smoked sheets (N. Y.). . . .dol. per lb_Shipments, world§ long tons.Stocks, end of month:

Afloat, total do . . .For United States do . . .

British Malaya. d o . . .United States i d o . . .

Reclaimed rubber:Consumption doProduction d o . . .Stocks, end of month do

Scrap rubber consumption do . . .

84, 912147,045

64, 5".219

127,659

290,000175,49990,006

339,108

22, 55923, 79036, 26553, 311

68. 653

97,081.222

131,133

270,000132,30491,189

375, 605

21, 72523,11136,751

55, 365

106, 540.227

127,634

2f 0,00090,59191.478

42«. 253

53, 655115,74983,151

.226164,968

280,COO141,756

79, 296455,000

20,864 24, 03224.111 24, 67839,099 38,055

. I 56,138

60,418

(a)

.232113,548

2S5,00017?, 633

98, 724454,711

25, 009?6, 56038,604

.231 .241

' Revised. * Includes Government reserves. ° The publication of detailed foreign trade statistics has been discontinued for the duration of the war.h No comparable data.JFor monthly data for 1913 to 1938, see table 28, p. 18 of the May 1940 Survey; for revised data for 1939, see table 15, p. 18 of the April 1941 Survey.cTThe number of companies reporting has fluctuated to such an extent that tonnage figures are not comparable from month to month.§Data are from the Statistical Bulletin of the International Rubber Regulations Committee; see note marked " § " on p. S-34 of the February 1942 Survey,tRevised series. For revised data for the indicated paper series beginning 1934 see table 43, pp. 12 and 13 of the November 1940 Survey except for subsequent revisions

in total paper beginning February 1939 through February 1941 which will be published in a later issue.*New series. Data beginning 1926 on price of sulphate wood pulp will be shown in a subsequent issue.•The publication of rubber statistics has been discontinued.




1942

June

1941

June July AugustSep-

temberOcto-ber

Novem-ber

Decem-ber

1942

Janu-ary

Febru-ary- March April

RUBBER AND PRODUCTS—Continued

May

TIKES AND TUBESPneumatic casings:

Production thousands..Shipments, total do

Original equipment. _ doReplacement equipment .doExports.. do

Stocks, end of month. doInner tubes:

Production _ doShipments, total .do

Exports.- doStocks, end of month .do

Raw material consumed:Crude rubber. (See Crude rubber.)Fabrics (quarterly). .thous. of lb_.

RUBBER AND CANVAS FOOTWEAR

Production, totaL thous. of pairs..Shipments, total ___doStocks, total, end of month do

3,1543,6565,455

6,3797,6022,5954,871136

7,088

6,2646,908104

7,010

88, 614

6,2785,66813,834

5,5786,4501,9984,309143

6,235

5, 2785,917

896,357

4,7896,36612, 256

4,9835,3941,1224,132140

5,834

4,4364,780105

6,071

5,5436,99010,809

4, 5f35,2591,4693,661129

5,154

4,1434,792

905,431

5,8447,4229,228

4,8345,8671,994(fc)

4,1375,143C)4,448

6,8487,4338,650

3,9644,0481,804

4,043

3,7253,825

4,377

6,3626,2878,725

2,9672,6041,289

4.417

2,7292,390

4,678

6,5326,0869,170

1,3691,231

9S5

4,55®

1,3281,257

4,712

5,5456,3008,315

1,1131,116

4, 553

1,0511,099

4,7535,2137,907

1,1561,027

4,809

1,129

5,026

4,4795,2476,803

1,1001, 557

5,175

1,1411,299

5,892

3,8844,1716,272

3,5023,8275,947

STONE, CLAY, AND GLASS PRODUCTS

ABRASIVE PRODUCTS

Coated abrasive paper and cloth:Shipments _ reams..

PORTLAND CEMENT

Production _thous. of bbl...Percent of capacity

Shipments thous. of bbl. . .Stocks, finished, end of month . .doStocks, clinker, end of month do

CLAY PRODUCTS

Common brick, price, wholesale, compositef. o. b. plant dol. per thous...

Floor and wall tile, shipments:Quantity thous. of sq. ft .Value thous. of doh.

Vitrified paving brick:Shipments thous. of brick..Stocks, end of month _. do

GLASS PRODUCTS

Glass containers: §Production thous. of gross. _

Percent of capacity.. -Shipments, total thous. of gross. _

Narrow neck, food*... doWide mouth, food* doPressed food ware* doPressure and non-pressure* doBeer bottles* doLiquor ware*— doMedicine and toilet* doGeneral purpose* do.Milk bottles* do.Fruit jars and jelly glasses* do

Stocks, end of month— doOther glassware, machine-made:*

Tumblers:Production thous. of doz__Shipments doStocks do

Table, kitchen, and householdware, shipmentsthous. of doz..

Plate glass, polished, productionthous. of sq. ft..

Window glass, production thous. of boxes..Percent of capacity

GYPSUM AND PRODUCTS

Crude:Imports. _. short tons..Production do . . .

Calcined, production doGypsum products sold or used:

Uncalcined do. _ _Calcined:

Building plasters . do . . .For mfg. and industrial uses. _.do___Keene's cement.. do . . .Board and tile, total thous. of sq. ft.

Lath. . . d o . . .Ti le . . . . d o . . .Wallboard. do . . .

115,910

16,02279.0

18,25022,6545,808

13.254

6,72399.9

6,356331

1,40543

4511,065

7591,482

43327290

10. 008

3, 7793,8459,140

2,494

4,7261,22375.3

130, 852

15, 22374.0

16,10921, 8655,757

12. 504

6,3401,694

3,38428, 778

6,16896.0

6, 867358

1,44947

763605

1,0271,695

479260165

8,397

4,8574,8637,820

3,069

18, 5341,30480.3

326, 2481,197,6891,026,987

365,682

523, 21838,2227,672

709,282472,69611,267225,319

146,734

16,00074.9

16,68721,1785,522

12.582

7,1921,929

4,05628,711

6,325|94.76,400497

1,32144694493841

1,608401277200

8,176

4,5414,3827,899

2,903

12,4631,28178.9

173,022

16, 34576.5

17,82519, 7325,219

12. 715

6,7011,890

3,90627,813

6,844102.46,847867

1,30839479432025

1,820414302239

8,052

4,8794,8267,872

3,857

14,1261,26778.1

141,985

16,11578.3

18, 28417, 5614,804

12. 853

6,3301,816

5,87324, 630

6,37099.16,9681,0081,269

45331401

1,0741,891417342158

7,321

4,4074,9987,208

3,427

14,9061,12369.2

366, 5191,335,9051,099,244

368,209

577,84041,5698,854

718,415479,7949,133

229,488

138, 555

16,68878.6

17,83316,4174,192

12.876

6,8311,932

4,55124,694

7,016101.16,244389

1,24255310408

1,0422,02246428510

7,948

4,8374,9376,975

4,082

15,7691,52493.9

138,327

14,93172.7

13, 72417, 6384,250

12. 921

5,2891,501

3,11317, 211

6,187100.35,29524097442316260

1,0561,7663812423

8,711

4,6583,5847,903

3,279

14,2771,30080.1

199,373

13,81064.8

11,51119,9254,575

12.935

5,0291,432

1,73517,122

6,04390.44,96521486239332395843

1,6403742454

9,610

4,3463,2368,936

2,553

10,3111,696104.5

1,361,0341,088,745

317,781

436,25536,1306,841

843,920567,3937,398

269,129

111, 700

12, 36058.69,11523,1685,020

13.100

3,5841,077

1,04617,948

6,75596.55,877271

1,19145352524905

1,88439925729

10,228

5, 3504,1438,797

2,587

9,1431,639100.9

130, 525

10,78757.08,29325,6685,840

13.165

1,047

78518,823

5,96596.16,141352

1,31937408601917

1,74142922497

9,950

4,5953,9219,376

3,112

5,6001,45789.7

109, 568

12, 733'61.012,56325,8316,570

13. 215

3,9441, 119

2, 07518, 992

6,935103.17,073588

1,51749503737983

1,806514243106

9, 450

4,8044,4829,260

3,278

5,5651,58397.5

()1,066,362817,856

285, 755

352, 31634,1145,904

559,498348, 0616,490

204, 947

105,808

14,06869.©

14,77425,1126,656

13.209

3,9051.147

1,98319,615

6,921102.96,830

4541,554

51479868838

1,757448234125

9, 417

4,5584,6109,156

5. 5701,644101.3

110,645

16,11977.0

16, 34924,8826,241

13.216

3,290939

2, 68019, 500

7,192111.26,997419

1,48949508

1,158814

1,733441259104

9,489

4, 1344, 3158,879

2, 927

4,3101, 55795.9

* Revised. • The publication of detailed foreign trade statistics has been discontinued for the duration of the war. * Data not available.•New series. Data for glass containers for the period January 1934-December 1939 are shown in table 49, pp. 16 and 17, of the November 1940 issue; minor revisions for

1940 for wide-mouth food containers and liquor ware not shown on p. S-35 of the September 1941 issue, and also revisions for 1941 not shown on p. S-35 of the June 1942 Surveyare available on request; earlier data on glassware other than containers are shown in table 2, p. 17, of the January 1941 Survey.

§ Data revised for 1941; revisions for January-March not shown in the Survey are minor and are available on request.




1942

June

1941

June Tniv Aninut S e p " O c t ° " N o v e m * Decem-Ju ly Augus t ffirnhpr h f i r h f t r h A r

cember

1942

Janu-ary


TEXTILE PRODUCTS

CLOTHINGHosiery:

Production thous. of dozen pairs..Shipments d o —Stocks, end of month do

COTTONConsumption bales.Exports (excluding Iinters)§ do__-Imports (excluding linters)§. ___do__-Prices received by farmers dol. per lb .Prices, wholesale middling 15/W, average 10 mar-

kets - do._Production:

Ginnings (running bales)•---thous. of bales..Crop estimate, equivalent 500-lb. bales

thous. of bales..Stocks, domestic cotton in the United States,

totalcf thous. of bales..On fprms and in transited - d o —Warehouses... d o —Mills. do—.

COTTON MANUFACTURES

Cotton cloth:Exports§ - thous. of sq. yd . .Imports!. doPrices, wholesale:

Mill margins cents per lb._Print cloth, 64 x 60 dol. per yd_.Sheeting, unbleached, 4 x 4 do

Finished cotton cloth, production:Bleached, plain thous. of yd . .Dyed, colors doDyed, black doPrinted -- - do

Spindle activity:Active spindles thpusands..Active spindle hours, total mil. of hrs_-

Average per spindle in place hours.. .Operations percent of capacity..

Cotton yarn, wholesale prices:22/1, cones (factory) _._. dol. pe r lb . .40/s, southern, single, carded, Boston..do

RAYON AND SILKRayon:

Deliveries (consumption), yarn*___mil. of lb__Imports? thous. of lb_-Price, wholesale, viscose, 150 denier, first

quality, minimum filament*...dol. pe r lb . .Stocks, yarn, end of monthj .mil. of lb_.

Silk:Deliveries (consumption)© bales._Imports, raw§ thous. of lb-.Price, wholesale, raw, Japanese, 13-15 (N. Y.)

dol. per lb_-Stocks, end of month:

Total visible stocks balesUnited States (warehouses)© do

WOOL

Imports (unmanufactured)! thous. of lb . .Consumption (scoured basis) :1

Apparel classA . . . d o —Carpet classA do —

Machinery activity (weekly average) iLooms:

Woolen and worsted:Broad thous. of active hours..Narrow do

Carpet and rug . . do - . . -Spinning spindles:

Woolen doWorsted -do

Worsted combs doPrices, wholesale:

Raw, territory, fine, scoured dol. per lb-_Raw, Ohio and Penn., fleeces doSuiting, unfinished worsted, 13 oz. (at mill)

dol. per yd._Women's dress goods, French serge, 54" (at

mill) dol. per yd . .Worsted yarn, ^2 ' s , crossbred stock (Boston)

dol. per lb--Receipts at Boston, total thous. of lb__

Domestic . doForeign... -do

12,03310,99021,847

966,940

.183

.189

8,4212,340

22.15.090.108

207, 506147, 654

5,19661, 287

23,09111,264

469133.2

.515

39.0

.5505.8

53, 4954, 270

129

119, 562115, 281

233

1.20.50

1.800

12, 53111, 93326,183

875,81275, 23626,108

.128

.138

13,099727

10, 5281,844

2,929

21.84.088.093

158, 569125, 282

5,89096,871

22, 9959,938

408121.5

.365

.433

38.31,457

.5304.6

24,2513,895

3.019

204, 60653, 436

84, 759

41,81611,260

2,59193

260

110, 590125, 606

231

1.08.46

2.030

1.312

1.63882, 82732, 83749,990

12,90012,88926, 235

929, 78261,11017, 243

.143

.156

12, 026585

9,6401,801

41,1944,275

19.06.078.095

168, 211134, 584

98, 704

23,02810, 537

433123.0

.373

.433

39.4576

.5303.6

28,5282,347

3.049

()47, 208

72,008

46, 60511, 465

2,43186

212

107. 780118,002

210

1.07.47

1.312

1.67581, 23242, 78038, 452

11,49913,78523,991

874,11334, 96743, 322

.153

.161

504

21, 62810, 7749, 2331,621

49,5763,075

20.53.080.095

171,667132,1776,11397,283

23,02910, 253

421125.3

.413

.475

37.3228

.5304.2

2,069332

3.080

63,010

39, 71211, 256

2,60690

251

117, 876125, 902

211

1.05.46

2.129

1.330

1.70061, 33626, 57034,765

11,97413, 77122, 236

875, 682189,21525, 413

.175

.171

4,713

20, 9927,99011,4531,549

46,9855,535

20.01.080.095

185, 786138,4376,36998,757

22,96410, 407

429123.7

.429

.481

37.0743

.5424.9

4,6851,003

()53,008

61, 658

41, 76411,212

2,52393240

113,084123, 512

223

1.06.48

2.228

1.391

1.74039, 7049,66130,043

14,10714,97721,409

953,600161, 66840,696.166

.165

19,8864,71213,2681,906

20.45.080.094

188, 594143, 7187,11698,297

23,04311,232

463125.8

.479

41.7()

.5505.4

4,160()

(*>57, 508

61, 99513, 980

* 2, 54694246

112,567127, 257

232

1.08.49

2.228

1.411

1.76326, 25311,73514, 518

12, 50112, 58521, 367

849, 733(°)(°).158

.164

9,596

18,8182,73813, 9152,165

20.34.081.095

170,132131, 7276,04278,572

23,0699,901409

129.4

.385

.471

38.5

.5504.5

5,676

()55,486

10, 700

2,52189229

108,127122, 409

220

1.11.49

2.228

1.411

1.80037, 57117, 28120, 280

12, 55511,93822,026

887,326

.162

.173

9,915

()13, 6582,299

20.30.083

180,792126, 6776,75091,674

23,06310, 540

437124.0

.395

.481

39.3

.5503.8

43, 69611, 708

2,70678

227

110,157129, 890

233

1.13

.49

2.228

1.411

1.8009, 658()

13,14712,86922, 304

945,909

.169

.190

10,240

()12,8052,388

20.32.086.103

192,229133, 6248,54782,267

23,07711,364

471136.9

.414

.500

41.2

.5504.8

3.080

44,4805,828

2,85089227

118, 654120,806

243

1.14.49

2.228

1.411

1.800

7,555

12, 20412, 75921, 749

893,745

.178

.192

12, 95113, 50621,194

966, 631

.181

.196

10,495

110,742

12,1692,465 |

20.32.087.104

176,227126,4656,55383,791

23,07810,457

435135.9

.413

.504

36.0

.550. 4.4

40, 9725,784

2,61686221

117,130101,015

231

1.16.52

2.320

1.800

11,3102,538

20.25.088.105

191, 654145,1696,010

88, 674

23, 09611. 3741473134.3

.419

.506

40.0

.5504.1

3.080

53, 8806, 555

2,60295177

116,99699, 935

231

1.18.52

2.599

12, 72913, 53320,390

998, 754

.190

.202

10, 3582, 518

20.29.089.107

194,328148,0235,33875,962

23,10011,463

476135.3

.425"

.516.

37.6

.5505.4

44, 7402,544

2, 754"86

136

125,659114,464

241

1.20.52

2.599

11,91311,50020,804

957, 015

. 192

.200

9, 3642,481

20.88. cro

108

192,142145, 423' 5, 57372,813

23,12111,193

465138.4

.426

.515

37. €

.550' 6 . 9

' 44, 320388

' 2, 78981

'144

125,175116,750

239

1.20.52

1.800 1.800 1.800

' Revised. • See note "<*", p . 37. l 1941 crop. 2 D a t a discontinued.§Data for 1939 revised; for exports, see table 14, p. 17 and for imports, table 15, p. 18 of the April 1941 issue. • Total ginnirigs to end of month indicated.^Data for July and October 1941 and March and June 1942 are for 5 weeks; other months, 4 weeks. No data were collected for the week December 28,1941, to January 3, 1942.JMonthly data beginning January 1930, corresponding to monthly averages shown on p. 155 of the 1940 Supplement, appear on p. 18 of the April 1940 Survey.*New series. For monthly data on rayon yarn deliveries beginning 1923, see table 41, p. 16 of the October 1940 issue. The new rayon price series replaces the data shown

in the 1940 Supplement; earlier monthly data are shown in table 30, p. 22 of the November 1941 issue. The new price series for cotton, which replaces the New York priceformerly shown in the Survey, is the average spot price of middling lH&" at 10 southern markets compiled by the Department of Agriculture; earlier data will be shown in asubsequent issue.

d"Revised monthly data for August 1939-July 1940 will be shown in a subsequent issue.©Beginning September 1941 certain amounts of raw silk were returned from mills to warehouses; these amounts are reflected in warehouse stocks and should be deducted

from the cumulative figures for deliveries. The number of bales returned were as follows: Sept., 542; Oct., 7,927; Nov., 2,717.ABeginning 1942, domestic and duty-paid foreign wool are classified as apparel and all free foreign wools are classified as carpet. Formerly duty-free foreign wool not finer

than 40s used in press cloth, knit or felt boots, or heavy-fulled lumbermen's socks (incompletely reported prior to September 1941) was classified under apparel wool and thecarpet-wool classification included a small amount of duty-paid wool. Data for 1941 as shown in the Survey beginning with the April 1942 issue have been revised for compari-son with 1942 data.




1942

June

1941


Octo-ber

Novem-ber

Decem-ber

1942

Janu-ary


TEXTILE PRODUCTS—Continued

WOOL—Continued

Stocks, scoured basis, end of quarter, total!thous. of lb. .

Woolen wools, total _ _ . _ do. .Domestic . doForeign _ _ do

Worsted wools, total doDomestic doForeign _ _ do

MISCELLANEOUS PRODUCTS

Fur sales by dealers thous. of dolPyroxylin-coated textiles (cotton fabrics):

Orders, unfilled, end of mo..thous. linear yd..Pyroxylin spread. thous. of lb__Shipments, billed. thous. linear yd..

10, 6384, 6616,CC9

208,34562, 21331,7S030,423

145,97053,93092,040

5,323

9,5587,4647,479

4,779

8,0706,4737,543

5,349

10,0387,1427,703

191,55665,50835,30430,204

125,65257,33468,318

4,297

8,7477,0978,017

1,441

9,0097,4887,841

790

8,2066,6987,097

190, 78071,97135,86236,109

118,53941,68076,859

564

7,8256,6377,398

2,828

7,1126,1816,745

6,308

7,5845,6596,464

C1)0)

(0(0

85,704

7,7975,4036,652

4,895

7,3005,6696,689

13,0235,5326,394

TRANSPORTATION EQUIPMENT

AIRPLANESExports§ number.

AUTOMOBILESExports:

Canada:Assembled, total number..

Passenger cars doUnited States:

Assembled, total§ . . .doPassenger cars§ doTrucks§._ do

Financing:*Eetail, passenger cars, total...Jan. 1942=100..

New cars doUsed cars . . .do

Retail automobile receivables outstanding,end of month Dec. 31, 1939=100..

Production:Automobiles:

Canada, total ..number..Passenger cars do

United States (factory sales), total...doPassenger cars doTrucks do

Automobile rims thous. of rims..Registrations:J

New passenger cars number..New commercial cars do

Sales (General Motors Corporation):World sales:

By U. S and Canadian plants doUnited States sales:

To dealers..- doTo consumers do

Accessories and parts, shipments:Combined index Jan. 1925=100..

Original equipment to vehicle manufac-turers Jan. 1925=100..

Accessories to wholesalers doService parts to wholesalers doService equipment to wholesalers do

RAILWAY EQUIPMENT

Association of American Railroads:Freight cars, end of month:

Number owned thousands..Undergoing or awaiting classified repairs

thousands..Percent of total on line.

Orders, unfilled cars._Equiprnent manufacturers.. doRailroad shops do

Locomotives, steam, end of month:Undergoing or awaiting classified repairs

number. .Percent of total online

Orders, unfilled number._Equipment manufacturers doRailroad shops do

U. S. Bureau of the Census:Locomotives, railroad:

Orders, unfilled, end of mo., total doSteamf doOtherf do

Shipments, totalf doStearnf doOtherf do

(a)(a)

CC4

1,736

573.3

37, 89125, 06212, 829

2,7477.035030446

1, 5776589191425983

352

13,000378

13,4814,0569,425

4481,253253

171

25, 7538,538

520, 525418,983101,5422,309

443,47062, 265

240, 748

224,119235,817

258

279140231229

1,661

855.2

91,41669,14022, 276

4,86212.326523431

87625562179970

360

22,4862,099

12,9756,9586,017

1,067234

176

24, 6543,849

444, 243343, 748100,4952,061

391,79567,412

224, 517

204, 695195,475

242

248154253221

1,666

794.8

88, 26666,64121,625

4,60711.730026634

942297645871176

533

16,9323,263

20,6166,70613, 910

325806209

178

17,1923,160

147, 60178, 52969,0721, 532

246, 59556,191

29,268

19, 69084,969

246

258160242216

1,671

784.7

89, 91765, 81424,103

4,20810.731726948

29766787

C)

8,849619

15, 6782,27913, 399

196419142

170

14,4662,548

234, 255167, 79066, 4651,811

125,29343,892

89, 300

81,16952,829

282

271170298290

1,676

734.4

86,94363, 60723, 336

4,02210.230926346

917285632791267

11,1441,052

201483133

164

19, 3605,635

382,009295, 56886,4412,024

165, 48541,352

17P, 120

162, 543103,854

286

280174302287

1,682

684.1

78,97457, 58421,390

3,7789.628424044

9212686531022775

11, 798997

179429118

157

21,5457,003

352, 347256,10196,2461,864

1C4,74736, 799

171,412

153, 904126, 281

270

271173267

1,689

684.1

75,55952, 56322,996

3,6349.228125625

1,022364

5,981658

196463132

149

20, 3136,651

282,205174,107,

1

17441

962243677

188006

21,7514,249

238, 261147,85890,403

1,271

64, 60323, 356

281

286174297255

1,694

623.7

73, 69750, 66123,036

3,3708.625823721

1,210526684962274

11,002246

100100100

139

225

265144229217

1,701

613.6

66, 87045, 79821, 072

3,3788.624922920

1,197522675891970

11,5991,146

632273

128

20,1813,989

134,13452,20081, 934

823

19,17710,311

)139231201

1,709

613.6

69, 40249, 93919,463

3,2318.230028218

1,2735517221002872

12, 222546

734681

116

20,1883,192

94, 5106,21688,294

669

141234202

1,718

603.5

68, 31647,98520, 331

3,2288.242637254

1,33258974312557

9,723611

584262

105

130205198

1, 726

623.6

58,12939, 80418, 325

3,1147.940835751

1,4256697561326270

14,444941

566055

95

[617

128174183

1,731

633.7

48, 35131,44016, 911

2,9307.539534847

1,5867168701115061

• The publication of detailed foreign trade statistics has been discontinued for the duration of the war. b Discontinued.1 Because of changes in the classification of stocks, figures are not available on a comparable basis with data formerly shown. Stocks of wool finer than 40s, other than wool

afloat which is no lorjger available for publication, as of April 4, 1942, and approximately comparable earlier data are as follows (thousands of pounds): April 4, 1942—total,166,132; domestic, 59,876; foreign, 106,256; December 1941—total, 142,378; domestic, 77,253; foreign, 65,125; March 1941—total, 104,679; domestic, 44,115; foreign, 60,564.

IDoes not include Australian wool held by the Defense Supplies Corporation. The total includes for June, September and December 1941 a comparatively small amountof certificated wool in licensed warehouses not included in the detailed figures.

§Data revised for 1939. See p . 17 of the April 1941 Survey; sec also cote marked " § " on page S-S7 of the November 1941 Survey for explanation of revision in 1940 data onexports of airplanes.

*New series. Beginning January 1942 the Bureau of the Census has discontinued the dollar series on passenger-car financing formerly shown in the Survey and has initi-ated a series of indexes on a January 1942 base on volume of paper acquired by sales finance companies, including passenger and commercial cars and diversified financing,and has placed the series on retail automobile receivables on a December 31, 1939, index base. Indexes prior to January 1942 for passenger-car financing have been computedby the Bureau of Foreign and Domestic Commerce from tbe former dollar series and linked to the new Census data.

fRevised to include both foreign and domestic data; earlier figures not published on p . S-37 of the January 1942 Survey are available on request.JData beginning June 1641 exclude Federal Government deliveries and are therefore not comparable with earlier data. See note " J," p . S-37, of December 1941 Survey.Digitized for FRASER


vS-38 SURVEY OF CURRENT BUSINESS August 1942

Monthly statistics through December 1939, to-gether with explanatory notes and referencestc the sources of the data, may be found in the1940 Supplement to the Survey

1942

June

1941


Octo-ber

Novem-ber

Decem-ber

1942

Janu-ary

Febru-ary- Mar cb April May

TRANSPORTATION EQUIPMENT—Continued

RAILWAY EQUIPMENT-Continued

U. S. Bureau of the Census—Continued.Locomotives, mining and industrial:

Shipments (quarterly), total* number..Electric total§ < n

For mining useOther*

American Railway Car Institute:Shipments:

Freight cars, total.Domestic

Passenger cars, total .Domestic

F xnorts of locomotives, totalElectricSteam

dodo

. . d o . . .do

. . d o . . . .dododorin

INDUSTRIAL ELECTRIC TRUCKSAND TRACTORSJ

Shipments, total numberDomestic .Exports

. d o . . . .do

205104102101

5,2532, 851

2323

2429794

145

5,1365,130

1212251015

26623828

5,5375,467

373728217

232225

7

3,9363,856

323222157

247236

11

173797394

5,1685,044

3830251411

260253

7

7,6176,626

2828

C)

C)

323306

17

6,3786,073

4242

298280

18

20710299

105

7,1837,181

3529

271261

10

6,2406,240

4242

330327

3

7, 7527, 652

2420

309303

6

177847193

7,7817,781

2828

37133635

7,9577,273

1010

400383

17

7,5735,700

4141

384373

11

CANADIAN STATISTICS

Physical volume of business, adjusted:fCombined index 1935-39=100..

Industrial production:Combined index .do

Construction .doElectric power .doManufacturing do

Forestry .doMining.. . do

Distribution:Combined index do

Carloadings doExports (volume) .doImports (volume) . . . d oTrade employment- do

Agricultural marketings, adjusted:!Combined index _ .do

Gra in . . _ _ doLivestock. . . do

Commodity prices:Cost of livingf doWholesale prices 1926=100

Employment (first of month, unadjusted):Combined index . . . d o

Construction and maintenance doManufacturing doMining _ doService doTrade doTransportation do

Finance:Bank debi t s . . . . mil. of do l . .Commercial failures number . .Life-insurance sales, new paid for ordinary!

thous. of dol.-Security issues and prices:

New bonds issues, totalf doBondyieldsf 1935-39=100..Common stock pricesf-- do

Foreign trade:Exports, total thous. of dol . .

Wheat thous. of bu_.Wheat flour.. -thous. of b b L .

Imports -thous. of doL.R ail ways:

Carloadings _. thous. of cars.-Financial results:

Operating revenues -thous. of dol . .Operating expenses doOperating income _. do

Operating results:Revenue freight carried 1 mile.mil. of tons . .Passengers carried 1 mile mil. of pass . .

Production:Electric power, central stations

mil. of kw-hr__Pig iron thous. of long tons . .Steel ingots and castings .doWheat flour.. thous. of b b L .

116.795.8

46

43, 898

283, 58498.862.8

150227

1,335

137.1

150.4286.8123.3143.5117.0125.6

112.9133.9182.1143.9121.8

217.0242.7105.3

110.590.1

152.9139.5168.0177.2170.9156.899.2

4,24172

33,670

876,920101.964.0

146,82223,1141,751

114, 924

271

44,81732,1229,976

4,381248

2,560112187

2,118

138.0

149.2130.7130.8153.6131.0146.3

117.6139.6212.7167.3121.2

268.9302.7122.0

111.991.3

157.4149.9172. 5176.8179.8158.5103.7

3,24258

32,681

111,290101.567.5

170,90119,3461,922

127, 707

277

45,44235,2487,262

4,257318

2,661102197

2,117

141.5

156.1145.0126.1163.7129.8140.9

114.9128.0189.7184.1122.0

95.393.7102.2

113.792.1

160.6160. 7176.9178.1184.0156.8105.0

3,15067

29,597

83,497101.267.8

150, 49614, 7211,437

137, 913

279

46, 52435, 9887,393

4,323354

2,640106203

1,852

148.9

169.0166.4136.2182.3145.6126.0

112.4119.1169.2185.6123.2

55.240.1

120.8

114.793.4

162.7153.9181.5181.6183.9157.5105.9

3,30145

33, 975

62,521100.371.0

142,89711, 341

661136, 991

294

47,21535,8618,973

4,447286

2,867112201

1,648

139.1

154.9145.9137.4164.7132.6123.6

110.2120.6139.5170.3123.9

113.3116.0101.3

115.594.0

165.8155.4185.0182.3175.7160.9104.2

3,62757

41, 740

341, 680100.269.1

139,67811,841

441140,819

313

51, 23937,30411,483

4,796262

3,140137223

1,596

132.0

143.3129.6137.5149.4123.2125.6

111.4124.4163.2159.3123.4

81.375.6

10P.1

116.394.0

167.6147.7187.5185.0173.7163.4102.8

3,427

44,984

94,85199.168.8

164,07922,105

587134,191

286

48, 21935,4969,927

4,711227

3,184134221

1,665

141.3

154.1184.4138.9158.9127.5124.4

118.1138.8163.9194.9122.9

129.4129.3129.8

115.893.6

168.8143.4188.4183.5170.4167.1104.1

3,68778

47,172

91,98599.367.2

152,09118,271

930125,886

294

50,05036,13410,818

4,356387

3,221148219

1,577

140.6

148.4125.8142.9158.3126.9120.2

125.3149.6199.7229.0125.2

136.3110.4112.3

115.494.3

165.8124.7187.1177.8168.0172.4101.1

3,23177

43,081

90,32699.466.8

152,30711,145

750142,127

272

45,42235, 1117,789

4,246283

3,226146231

1,556

134.3

141.3103.6137.6152.4134.2113.7

121.9140.4223.7187.6123.5

93.970.6

100.9

115.794.6

165.4118.1191.2176.8167.0156.898.2

2,89364

39, 357

90,09299.364.7

168,1975,4241,056

119,556

249

44,04435,2816,046

4,031271

2,864129217

1,585

136.2

144.8153.2141.7150.2133.5119.2

120.7136.2230.7191.3118.2

81.674.9

110.8

115.995.1

165.1103.7195.7176.4169.1151.797.5

4,17756

35, 876

.,044,07799.662.3

176,9509,765899

144,886

271

50,85837,33810,036

4,580325

3,221149237

1,807

140.4

152.7145.0144.3159.7123.0130.4

118.5140.3221.9187.5117.8

84.884.287.0

115.995.0

165.298.0

199.4175.0172.8153.099.0

3,73346

36, 232

145, 89199.661.1

14, 5371,128

142,113

273

50,59736, 52610,303

4,439361

3,083143237

1,961

131.8

139.097.5

146.1144.8113.9132.0

119.0142.3()

83.784.380.9

116.195.2

167.4109.3202.3173.5176.3153. 5104.1

3,79153

40, 336

92,32999.562.0

235, 71026.851

922147, 530

283

3,175153243

1,481

• The publication of foreign trade statistics has been discontinued for the duration of the war.fData on life-insurance sales revised beginning September 1936; for revisions see p. 56 of the September 1940 Survey. For revisions of new bond issues for 1939 see p. 56

of the March 1941 Survey. All Canadian index numbers to which this note is attached have been revised to a 193.5-39 base; earlier cost of living data appear in table 35, p. 19of the January 1942 issue. Common stock price indexes have been converted to the new base by multiplying the old series by a constant. The index of bond yields has beencompletely revised and is now based upon yields of a 15-year V/i percent Dominion issue. The production and distribution indexes and indexes of agricultural marketingshave also been completely revised; revised data will be published in a subsequent issue. The index of grain marketings is based on receipts at country elevators instead ofreceipts at head of Lake and Pacific ports, as formerly.

tBeginning with July 1940, data are reported by the Industrial Truck Statistical Association and cover reports of 8 companies. They are approximately comparable withprevious data which were compiled by the Bureau of the Census.

§Includes straight electric types only (trolley or third-rail and storage battery); data for 1939 and earlier years, published in the Survey, include some units of only partialUnited States manufacture and are not comparable with data here shown.

*New series. Comparable data on total shipments are available only beginning January 1940. "Other" includes Diesel-electric, Diesel-mechanical, and gasoline or steamlocomotives; these are largely industrial; for data beginning with the first quarter of 1939, see p. 55 of the May 1941 Survey.


INDEX TO MONTHLY BUSINESS STATISTICS, Pages S1-S38

CLASSIFICATION, BY SECTIONS

Monthly business statistics: PageBusiness indexes - — S-lCommodity prices S-3Construction and real estate S-4Domestic trade - S-6Employment conditions and

wages S-7Finance - - - - S-12Foreign trade S-19Transportation and communica-

tions - S-20Statistics on individual industries:

Chemicals and allied products -_ S-21Electric power and gas S-2 3Foodstuffs and tobacco S-24Fuels and byproducts S-27Leather and products S-2 9Lumber and manufacturers S-2 9Metals and manufactures:

Iron and steel S-30Nonferrous metals and prod-

ucts S-32Machinery and apparatus S-32

Paper and printing S- 33Rubber and products S-34Stone, clay, and glass products _ S-3 5Textile products S-3 5Transportation equipment S-3 7

Canadian statistics S-38

CLASSIFICATION, BY INDIVIDUALSERIES

Pages marked SAbrasive paper and cloth (coated) 35Acceptances, bankers' - 13Advertising 6Agricultural cash income iAgricultural wages, loans 13Air mail and air-line operations 6,20Aircraft . 1,2,9,11,12,37Alcohol, denatured, ethyl, methanol 21Aluminum ,. 32Animal fats, greases 21Anthracite 2,3,10,11,27Apparel, wearing 3,4,6,9,11,36Asphalt 28Automobiles 1,2,3,6,8,9,11,12,37Automobile accessories and parts 37Banking 13,14Bartey - 24Bearing metal 32Beef and veal 26Beverages, alcoholic 24Bituminous coal 2,3,10,11,27,28Boilers 31Bonds, issues, prices, sales, yields 17,18Book publication 34Brass and bronze 32Brick . 35Brokers' loans 14,18Building contracts awarded 4Building costs 5Building expenditures (indexes) 4Building-material prices 3Butter. 24Canadian statistics 15,37,38Canal traffic 20Candy 26Capital flotations 17,18

For productive uses 18Carloadings 20Cattle and calves „ 25Cellulose plastic products 23Cement 1,2,3,35Chain-store sales 7Cheese 24Chemicals 1,2,3,4,9,11,12,14,16,21Cigars and cigarettes 27Civil-service employees 10Clay products 1,2,8,9,10,12,14,15,35Clothing (see also hosiery) 3,4,6, 8, 9,11,12Coal 2,3,10,11,27Cocoa -__--._. 26Coffee.-- 26Coke __ - - - 28Commercial failures _ _ _ ._ 14Commercial paper . 13Construction:

Contracts awarded 4Costs 5Highways and grade crossings __.„__,, 5Wage rates 13

Copper 32Copra and coconut oil 22Corn . 25Cost-of-living index 3Cotton, raw, and manufactures 2,3,4,36Cottonseed, cake and meal, oil 22Crops - 1,22,25,27,36Currency in circulation ._ 15Dairy products 24Debits, bank __>_ . 13Debt, United States Government. 16Delaware, employment, pay rolls, wages _ 9,11,12Department stores: Sales, stocks, collections. 7t 8Deposits, bank—. _.„„. . 13, 14

Pages marked SDisputes, industrial 10Dividend declaration payments and rates.— 1,19Earnings, factory, average weekly and

hourly 11,12,13Eggs and chickens „ . . 1,3,26Electrical equipment 2,3,8,9,10,11,12,33Electric power production, sales, revenues»_ 23Employment, estimated nonagricultural 8Employment indexes:

Factory, by cities and States . 9Factory, by industries 8,9Nonmanufacturing 10

Employment, security operations 10Emigration and immigration 20Engineering construction 4Exchange rates, foreign 15Expenditures, United States Government 16Explosives 21Exports 19Factory employment, pay rolls, wages 8,

9,10,11,12,13Fairchild's retail price index 3Farm wages 13Farm prices, index., 3Federal Government, finances 16,17Federal-aid highways and grade crossings 5Federal Reserve banks, condition of 13Federal Reserve reporting member banks 14Fertilizers- „__ 21Fire losses .___ 5Fish oils and fish 22,26Flaxseed 22Flooring . 29Flour, wheat _ 25Food products __ _ 1,

2,3,4,6,9,11,12,14,15,16,24,25,26,27Footwear 1,2,4,9,11,12,29Foreclosures, real estate 5Foundry equipment 32Freight cars (equipment) «. 37, 38Freight carloadings, cars, indexes 24Freight-car surplus 20Fruits and vegetables 3,24Fuel equipment and heating apparatus 32,33Fuels 2,3,27,28Furniture 30,31Gas, customers, sales, revenues 23Gas and fuel oils 3,28Gasoline 28Gelatin, edible 27General Motors sales 37Glass and glassware 1,2,8,9,10,12,14,15,35Gloves and mittens 29Gold 15Goods in warehouses 6Grains 3,17,24,25Gypsum _ 35Hides and skins 28,29Hogs 25Home-loan banks, loans outstanding 6Home mortgages 5Hosiery 36Hotels 20Housing 3,4Illinois, employment, pay rolls, wages 9,11,12Immigration and emigration 20Imports 19Income payments 1Income-tax receipts ... 16Incorporations, business, new 6Industrial production, indexes 1,2Installment loans 14Installment sales, department stores 7Insurance, life 15Interest and money rates 14Inventories, manufacturers' 3Iron and steel, crude, manufactures __,. 1,

2,3,4,8,9,10,11,12,14,15,30,31Ironers, household 33Kerosene 28Labor, turn-over, disputes . 10Lamb and mutton.._ . 26Lard. 26Lead _ 2,32Leather 1,2,4,9,11,12,14,15,29Linseed oil, cake, and meal.-.. . 22Livestock 25,26Loans, real-estate, agricultural, brokers' 5,6,13Locomotives 37,38Looms, woolen, activity 36Lubricants __ . __ 28Lumber- 1,2,3,8,9,10,11,12,29,30Machine activity, cotton, wool 36Machine tools .__ 8,9,10,11,12Machinery.. 1,2,3,8,9,10,11,12,14,15,16,32,33Magazine advertising 6Manufacturers' orders, shipments, inven-

tories 2,3Manufacturing indexes 1, 2Maryland, employment, pay rolls 9? 11Massachusetts, employment, pay rolls,

wages 9.11,12Meats and meat packing.-... _ 1, 2,3,9, l l j 12,26Metals 1,2,4,8,9,10,11,12,30Methanol 21Mexico, silver production 15Miik___ . . 24Minerals 2,10,11Naval stores 22New Jersey, employment, pay rolls, wages. 9,11,12Newsprint 34

Pages marked SNew York, employment, pay rolls, wages. 9,11,12New York canal traffic 20New York Stock Exchange 18,19Oats . . . . 25Ohio, employment, pay rolls 9,11Oils and fats 21, 22Oleomargarine _ 23Orders and shipments, manufacturers' 2Paint sales 23Paper and pulp 1,2,3,9,11,12,33,34Passenger-car sales index 7Passports issued 20Pay rolls:

Factory, by cities and States 11Factory, by industries 10,11Nonrnanufacturing industries 11

Pennsylvania, employment, pay rolls, wages- 9,11,12

Petroleum and products. 1,2,3,9,10,11,12,16,28Pig iron 30,31Porcelain enameled products 31Pork . 26Postal business 6Postal savings 14Poultry and eggs 1,3,26Prices (see also individual commodities):

Retail indexes 3Wholesale indexes 3,4

Printing . 1,2,9,11,12Profits, corporation „ 16Public relief 13Public utilities 4,10,11,16,18,19Pullman Co 21Pumps 33,34Purchasing power of the dollar 4Radiators 31Radio-advertising _ 6Railways, operations, equipment, financial

statistics, emoloyment, wages.. _ 1,*2, i0,11,13,16,17,18,19,20,37,38

Railwas^s, street (see street railways, etc.).Ranges, electric 33Rayon __. 1,2,4,36Reconstruction Finance Corporation, loans. 17Refrigerators, electric, household„ 33Registrations, automobiles 37Rents (housing), index 3Retail trade:

Automobiles, new passenger 6Chain stores, variety (5-and-10), grocery,

and other 7Department stores . 7Mail order 8Rural general merchandise 8

Rice -_ _ 25River traffic .. 20Roofing asphalt . 23Rubber, crude, scrap, footwear, tires and

tubes 1,2,3,4,9,11,12,34,35Savings deposits 14Sheep and lambs 26Shipbuilding 1,2,8,9,11,12Shoes - - - - 1,2,4,9,11,12,29Silk __ _ 1,2,4,36Silver _ 15Skins 28,29Slaughtering and meat packing 1, 2, 9,11,12,26Spindle activity, cotton, wool 36Steel and iron (see iron and steel).Steel, scrap, exports and imports 30Stockholders 19Stocks, department store (see also manu-

facturers' inventories) 8Stocks, issues, prices, sales, yields 17,18,19Stone, clay, and glass products 1,,- • #~ V ky m-:-^-^^:- 2,8, 9,10,12,14, 15,35Street railways and busses 10,11Sugar 26Sulphur 21Sulphuric acid 21Superphosphate 21Tea 26Telephone, telegraph, cable, and radio-

telegraph carriers ,__ 10,11,16,21Textiles . . . 1,2,4,9,11,12,14,15,36,37Tile 35Tin 32Tobacco 1,2,9,11,12,27Tools, machine 8,9,10,11,12Travel _ 20,21Trucks and tractors, industrial, electric 38United States Government bonds _ 18United States Government, finances. 15,16,17United States Steel Corporation 19,31Utilities ___ 4,10,11,15,16,18,19Vacuum cleaners 33Variety-store sales index 7Vegetable oils 22Vegetables and fruits . 3,24Wages, factory, and miscellaneous 10,11,12,13War program and expenditures 16Warehouses, space occupied 6Washers, household 33Waterway traffic. _ ._ . 20Wheat and wheat flour 25Wholesale price indexes 3,4Wire cloth _. 32Wisconsin, factory employment, pay rolls,

and wages . 9,11,12Wood pulp 4,33,34Wool __ ._ 1,2,4,36,3?Zinc 32Digitized for FRASER


SCB_081942

Documents

Transcript of SCB_081942