survey of current business august 1943

AUGUST 1943

CURUS

SURVEY OF

ENT

UNITED STATES DEPARTMENT OF COMMERCE

BUREAU OF FOREIGN AND DOMESTIC COMMERCE

AMOS E. TAYLOR APPOINTEDDirector of Bureau

Announcement was made by the White Houserecently of the nomination of Amos E. Taylor asDirector of the Bureau of Foreign and DomesticCommerce.

Dr. Taylor has been associated with this Bureausince November 1930. During these years he hasoccupied many important posts, rising to the posi-tion of chief of the Division of Research andStatistics before his present appointment. Spe-cializing in the field of international finance andeconomics, he has written extensively for economicand scientific journals.

Before entering the Government service Dr. Tay-lor was Assistant Professor of Finance at theUniversity of Pennsylvania and NorthwesternUniversity.

O. P. Hopkins, whose nomination as AssistantDirector was also announced by the White House,entered the Bureau in 1911 as an editorial clerk.He was appointed Assistant Director in 1920 andExecutive Assistant to the Director in 1941. Forseveral months past Mr. Hopkins has been ActingDirector of the Bureau.

At the same time Raymond C. Miller was ap-pointed as Assistant Director. He has been a mem-ber of the Bureau since 1921, serving for 12 yearsin the Western European Division. Returning tothis country in 1933, Mr. Miller was named foreigntrade adviser in the Agricultural Adjustment Ad-ministration, and the following year became Di-rector of Export-Import Relations, Office of theSpecial Advisor to the President on Foreign Trade.In 1941 lie was appointed Chief Economic Analystof the B;TOMI anJ. As.^'tunt io the S:wT<»tary ofCoiiuiierci\ Since yd* Xovniibe-' he IIHF beenuiiccU)!* of the D^panumitV fiVld ,-ei /ice.

SURVEY OFCURRENT BUSINESS

AUGUST 1943Page

ECONOMIC HIGHLIGHTS 2

THE BUSINESS SITUATION 3Revised Outlook for National Product and National Income in 1943 4

The Trend in Inventories 4

Construction 6

Transportation 7

NATIONAL PRODUCT AND INCOME IN THE FIRST HALF OF 1943. 9

SALES OF WHOLESALERS, 1929-43 15

INCOMES IN SELECTED PROFESSIONS 23

NEW INDEX OF RETAIL PRICES, 1939-43 28

STATISTICAL DATA:

Monthly Business Statistics S-lGeneral Index Inside back cover

Published by the Department of Commerce, JESSE H. JONES, Secretary, and issued throughthe Bureau of Foreign and Domestic Commerce, AMOS E. TAYLOR, Director

Volume 23 Number 8

Subscription price of the monthly SURVEY OF CURRENT BUSINESS, 31.75 a year. Single-copy price: Monthly, 15 cents;Foreign subscriptions, 32.50. Price of the 1942 Supplement is 50 cents. Make remittances only to

Superintendent of Documents, U. S. Government Printing Office, Washington, 25 D. C.

539303—43 1 1

SUEVEY OF CURRENT BUSINESS August 1943

Economic HighlightsManufacturers' Sales Still Below Peak

Total shipments by manufacturers reached a record level of$11.9 billion in February 1943, after adjustment for number ofworking days, but have been lower each month since then.While it is probable that part of the output lag may be due toshifting production schedules arising from changing needs ofthe armed forces, declining shipments of manufactured productsare symptomatic of more basic difficulties.

BILLIONS OF DOLLARS16

1940 1941 1942 1943DO 43-4SI

Manufacturers' Shipments, Adjusted for Number of Working Days.

Shortages of manpower, materials, and plant capacity arebeing felt both by industries engaged primarily in producingwar goods and those producing civilian goods. Not even "warindustries" were able to maintain their average daily shipmentsat the February peak level. Only major awar industry" whichshowed consistently larger sales in the first 6 months of thisyear was the automotive and equipment industry. Sales of"nonwar industries" likewise have shown declines from Febru-ary levels, particularly food and textile-mill products industries.Gains in output can be expected in coming months, particularlyby "war industries," but size of the increases will depend onmore efficient use of our available manpower and supplies.

Strike Idleness Rising SharplyIdleness because of strikes in 1942 was at lowest level for over

a decade, averaging only 349,000 man-days per month. Thusfar in 1943, all months except February and March haveexceeded this average.

Since April, a large part of the increase in idleness is attribut-able to stoppages in both anthracite and bituminous coal fields.In May, 1,275,000 man-days were lost, involving 625,000

MILLIONS OF MAN-DAYS8

THOUSANDS OF WORKERS1 II2OO

MAN-DAYS IDLE• DURING MONTH

(LEFT SCALE)

WORKERS INVOLVED IN STRIKESIN PROGRESS DURING MONTH «s.

(RIGHT SCALE)600

300

1940 1941 1942 1943

Man-Days Idle and Workers Involved in Strikes.

workers, over half as a result of the coal stoppage. It was thefirst month since Pearl Harbor that more than a million man-days have been lost. Notwithstanding the war, more workerswere involved in strikes in May and June than at any time inthe past 15 years. In June, chiefly as a result of the slownessof some groups of miners to return to work, idleness rose to4,750,000 man-days averaging 5 days per worker involved.Effects of a strike cannot accurately be measured by the per-centage, usually very small, of time lost to total time workedsince this measure fails utterly to reflect any slowing down inoutput of related industries for lack of materials or parts cutoff by the stoppage.

Export Balance Reflects Aid to United NationsOur export balance continues

to increase in reflection of grow-ing supplies of materials avail-able for export and of ship spacefor carrying them. For first 6months of 1943, the exportbalance has averaged $658 mil-lions per month or nearly doublethe $332 millions for the com-parable 1941 period. In Mayfor the first time on record, andagain in June total exportsincluding reexports, amounted toover a billion dollars (the Aprilfigure on the chart includesshipments valued at $160 mil-lions exported in January, Feb-ruary, and March). General im-ports in June amounted to $307millions, the highest monthlytotal for 1943.

Of total May exports, $822millions represented shipments of

MILLIONS OF DOLLARS1400

o L

Value of Exports, Including Reexports, and General Imports.

lend-lease goods. Since the in-ception of the program throughMay, lend-lease exports have ac-counted for $9.1 billions, or ap-proximately 53 percent of totalexports.

These export-import statisticsfail to present the complete pic-ture. Export data take no ac-count of shipments to our armedforces. Import data neglect theamount of foreign goods madeavailable to Americans by reverselend-lease. True present sig-nificance of export data can befound only in the parts playedby American materials on foreignbattlefronts and in the economiesof the United Nations while thatof import data will be found inimportance of individual im-ported commodities in the wareffort.

August 1943 SURVEY OF CURRENT BUSINESS

The Business Situation

THE dramatic collapse of Mussolini and his FascistParty and the imminent capitulation of Italy

must be classed, so far as their potential economiceffects are concerned, as the leading developments ofJuly. They are significant in throwing more light onthe probable length of the European phase of the warand, more remotely, of the Pacific phase also. Theyusher in the phase of occupation of enemy homelands.Each such territory wrested from the German-domi-nated Axis economy and brought into relationship withthe economies of the United Nations deprives the enemyof its resources and makes them available in somedegree to the victorious powers. But such a conquestalso relieves Germany of certain strains and imposesthem upon the United Nations. Hence, the Italiandebacle may well have important repercussions on theAmerican economy because as a war economy it issubject to developments on the battlefield. The breakin the stock market reflected, in part, the interpreta-tion of the Allied victories in Italy as bringing closerthe period of reconversion of industry to peacetimeoperations.

Chart 1.—Budget Expenditures of the Federal Governmentfor War Activities


6

4

2

0^ ^ r [ l l | , , r ^

/

/

/

1 1 . 1 . 1 1 1 1 1 1

1940 1941 1942

Source: U. S. Treasury Department (Daily Statement).

19430.0 43 -250

Nothing would be more unfortunate on the homefront, however, than universal acceptance of the ideathat the war is all over except for the shouting—especially since domestic economic developments hardlywarrant the same rejoicing as the victories of ourarmed forces abroad. The increase in strikes is cer-tainly inappropriate in a war economy. The Junedecline in industrial production, which was largely dueto the slump in coal and iron and steel output, appearsupon the basis of evidence available in early Augustto have been largely reversed in July. The fact re-

mains, however, that in the first 7 months of this year,industrial production, as measured by the presentFederal Eeserve index, gained only about 4 percent,whereas in the comparable period of 1942, just afterPearl Harbor and notwithstanding the slowing downdue to industrial conversion to war, production roseabout 7 percent.

Of the billion-dollar drop in July war expendituresfrom the June level, about half a billion was due toadjustments in Treasury accounts which raised Juneexpenditures, shown in chart 1, in an unusual mannerby that amount. A small part of the decline is ac-counted for by the sharp decline in war construction(which is discussed at more length on a later page inthis section). The remainder of the war expendituredrop, however, points to a continuation of the lag thathas been retarding munitions output in recent months.

This prolonged retardation of output at a level farbelow the peak required by our war effort, sharplyemphasizes the redoubled efforts that must be made onthe home front in the months immediately ahead ifthe needs of the armed forces as reflected in munitionsproduction schedules are to be met. Additional man-power must be recruited over and above the with-drawal of many thousands more by the armed forces.Directly or indirectly, this additional manpower canbe obtained only at the expense of the civilian economy.Despite cheering news from the fighting fronts, there-fore, civilians have still to make their maximumsacrifices and contribution to the war effort.

During the first half of this year, consumer incomesand expenditures have continued to advance rapidly.The marked contrast between the continued rise in theflow of funds and the lag in industrial production re-mains one of the most significant features of thecurrent economic situation. Detailed discussion of theswift rise in national income and consumer expendituresduring the first half of 1943 will be found in a specialarticle on page 9 of this issue.

Consumers, with plenty of money to spend, are stillspending it freely. June total retail sales, seasonallyadjusted, were at a high level exceeded only by thatof last February when the scare buying of shoes andother apparel set an all time peak. Buying of apparelwas also a chief factor in raising June retail trade toits high level. Part of this was due to shoe pur-chases when the second shoe ration stamp becameusable. It may be noted in passing that consumerexpenditures for apparel during 1941 and 1942 werein step with the rise in income but not ahead of it.During the first half of 1943, however, consumers have

SURVEY OF CURRENT BUSINESS August 1943

spent more for apparel than would be expected on thebasis of their incomes. Merchants have been able tomeet this demand only by drawing down inventories.For the year as a whole, it is probable that about one-eighth of consumer purchases of apparel in 1943 willcome from inventories. (A detailed discussion of theentire inventory situation will be found later in thissection.)

By the end of the year, stocks in all hands (manufac-turers, wholesalers, and retailers) will be down to a pointwhere any further reduction could occur only if mer-chandising methods were very substantially altered.Consumer incomes, even after deduction of currentlypaid income taxes, are expected to go on rising. Henceit is clear that if consumers continue to attempt tospend more for apparel than would be proportionate totheir income, either production must be stepped up orsome method of distributing the available supply equi-tably must be put into effect. Undoubtedly voluntarylimitation of purchases by each consumer would be thebest method if it can be made effective.

Revised Outlook for National Product and NationalIncome in 1943

In the light of the actual performance of the economyin the first 6 months of the year some retouching of the1943 forecasts published in the March SURVEY is calledfor. The assumptions on which these forecasts arebased should again be noted. It is assumed that nofurther price rise will occur and that tax laws as atpresent enacted will remain in force. While the latterassumption may conform to actual events, the formeris clearly hypothetical, and the individual reader willhave to modify the forecasts here presented in the lightof the price increases which he anticipates.

In view of the lag of war production, total Govern-ment expenditures are likely to fall short from, ratherthan exceed, the 100 billion level mentioned in theMarch SURVEY. Owing to the price rise that hasoccurred since the beginning of the year and the failureof real consumption to decline, consumer expendituresfor the year may top 88 billion dollars rather than 77billion as previously estimated. Private gross capitalformation for the year will be negligible. The nationalproduct of about 185 billion dollars is expected togenerate a national income of over 147 billions, andincome payments of about 142 billions, both forecastsbeing about 5 billions higher than those given in March.On the basis of present tax legislation, including thatenacted earlier this year, personal taxes may absorb asmuch as 17 billions of this sum. With roughly 88billions spent on consumption, a figure somewhere inthe vicinity of 37 billions is left for individual savings.This is below the estimate given in the March SURVEY,the reduced level of savings being due partly to highertaxes but chiefly to larger consumer expenditures thanwere originally expected.

The Trend in Inventories

Business inventories have been gradually liquidatedduring the past 12 months. Reaching a peak level of29.3 billion dollars in June 1942, inventories of manu-facturers, wholesalers, and retailers were reduced by2.5 billions in the 12-month period ending June 30 ofthis year. Ever-increasing demands for goods, bothby the armed forces and civilian population, could bemet only so long as there were unutilized resources to beemployed. During 1941 and the first half of 1942,business concerns were not only able to satisfy most

Chart 2.—Business Inventories at End of Month


16

12

a

4

0

. — '

- ^ — . - • * •

MANUFACTUi?ERS—^S

RETAILERS-^ ^

1 ^WHOLESALERS

. 1 1 i . ! 1 1 , i , 1 1 1 I I 1 1 1 I 1 1 . 1 1 ! I 1 1 1 1 1 1 1 1

>—

g? 1939 1940 1941

Source: IT. S. Depar tmen t of Commerce.

1943O.D. 43-423

demands but also succeeded in adding to their stockpileout of current production. As full utilization of all ourresources w as approached, it became clear that a morestringent control of the flow and distribution of mate-rials was necessary to get an economic distribution ofsupplies for maximum output. Inventory accumula-tion thus gradually came to a halt and the application ofvarious controls, together with increasing shortagesof supplies, were reflected in the inventory liquidationof recent months.

Table 1.—Value of Business Inventories[Millions of dollars]

End of month Manu-facturers

1938—December.1939—December1940—December.1941—December.1942:

JanuaryFebruaryMarchAprilMay.JuneJulyAugustSeptember..OctoberNovember..December...

1943:JanuaryFebruaryMarchAprilMay._June

9,99410, 65911, 92015, 747

16, 09616, 20116, 46416, 60316, 93917, 18317, 31717, 39217,43917, 54717, 68217, 652

17, 67617,44017, 38617,43317,46017,219

Whole-salers

3,3193,5493,7304,697

4,8334,8674,8994,8124,6744,6324,4754,3454,2454,0293,9563,992

3,9914,0264, 0513,9944,0023,882

Retailers

4,8825,1175,5496,637

6,6206,7007,0877,4727,5657,4967,4397,3577, 3507,2757,0906,384

6,1165,9456, 1065,9355,9475,738

Total

18,19519, 32521,10927,081

27. 54927, 76828,45028, 88729, 17829,31129, 23129, 09429,03428, 85128, 72828, 028

27, 78327,41127, 54327, 36227, 40926, 839

Source: U. S. Department of Commerce.


Wholesalers were the first to draw down their stocksin response to the unprecedented orders placed withthem both by retailers and producers. Dollar volumeof wholesale inventories reached a peak in March 1942,but by the end of the year were reduced by more thanone-fifth. Thus at the beginning of 1943, holdings ofwholesalers were back to 1941 levels in dollar terms, andbelow the levels of that year in unit volume. Duringthe first 6 months of this year, however, wholesalestocks have been at a plateau, despite the fact thatsales were above a year ago. This indicates that cur-rent inventory levels probably cannot be reduced sig-nificantly in relation to sales without drasticallychanging the methods of doing business.

Retail inventories began to decline in June of 1942and have been declining steadily ever since. In rela-tion to sales, retailers had accumulated abnormallylarge inventories in 1941 and early 1942. But theseinventories are now being drawn upon to supplementthe reduced flow of incoming goods. Furthermore,continued consumer demands will make further liqui-dation inevitable. During the first 6 months of thisyear the value of retail inventories dropped by over650 million dollars and an equal drop is expected in thelatter 6 months.

Table 2.—Value of Manufacturers1 Inventories

[Millions of dollars]

End of month

1938—December.1939—December.1940—December.1941—December.1942:

JanuaryFebruary,---MarchAprilMay._._JuneJulyAugustSeptember. __OctoberNovember. _.December

1943:JanuaryFebruary.MarchAprilMay._..June

Durablegoods

4,6465,046 j6,021 !8,140 j

8,3088,3838, 5058,6558,8198,9619,0819,1849. 3199,4679,6309,741

9,7979,7199,7699,9009,9009,787

Nondura-ble goods Total

5,3485,6135,8997,607

7,7887,8187,9597,9488, 1208,2228,2368, 2088,1208,0808,0527,911

7,8797,7217,6177,533 |7,560 !7,432 I

9,99410, 65911,92015, 747

16, 09616, 20116, 46416, 60316, 93917,18317, 31717, 39217, 43917, 54717, 68217, 652

17, 67617, 44017, 38617, 43317, 46017,219


Increased activity of the "war" manufacturing indus-tries in 1942 necessitated additional inventories of rawmaterials, and resulted in further piling up of goods-in-process. This tended to raise inventories of manufac-turers despite the fact that many controls were appliedtoward minimizing them. Thus during 1942 manufac-turers increased their total inventories by 1.7 billiondollars with the rise in "war" inventories more thanoffsetting the decline in stocks destined for civilian use.This year, however, the various governmental controls,particularly with respect to the use and distribution ofcritical materials, were reflected in a better and more even

distribution of material holdings of manufacturingplants. This together with the tighter situation insupplies resulted in a relatively stable level of invento-ries in the past 6 months. Manufacturers' inventorieson June 30 were over 400 million dollars below thebeginning of the year level.

Table 3.—Manufacturers' Inventories by Stages ofFabrication *


End of month

1938—December.....1939—December ._1940—December1941—December . . . .1942:

JanuaryFebruaryMarch .AprilMay.JuneJulyAugustSeptemberOctoberNovemberDecember

1943:JanuaryFebruaryMarchAprilMayJune

Raw mate-rials

4,0754,5154,9367,085

7,2287,3657,5237,5707,7487,8417,8817,8907,9878,2198,2608,290

8,1127,9827,9458,0318,1488,057

Goods inprocess

1,5691,8892,4643,951

4,0134, 0534,1774,2034,2644,3344,3754,4774,5314,5434,6874,765

4,9084,9555,0165, 0704,9304,813

Finishedgoods

4,3504,2554, 5204,711

4,8554,7834, 7644,8304,9275,0085,0615, 0254,9214,7854, 7354,597

4, 6564, 5034,4254,3324, 3824,349

Total

9,99410, 65911,92015, 747

16, 09616, 20116,46416,60316,93917,18317, 31717,39217,43917, 54717,68217, 652

17, 67617, 44017,38617,43317,46017,219

1 Classification by stages of fabrication is as reported by manufacturing companiesand does not necessarily reflect economic stages of fabrication.


A sharp contrast may be observed in the movementof manufacturers' inventories between the durable andnondurable goods industries. The durable goods in-dustries include the heavy war industries such as ironand steel and their products, machinery, and transpor-tation equipment industries. These industries haveshown a continued expansion in activity and haverequired additional inventories to support the higherlevels of production. Thus their inventories continuedto expand throughout the year 1942 and fche first 5months of this year although, as in the case of their out-put, at a declining rate. Their inventory accumulationin 1942 amounted to 1.5 billion dollars, whereas in thefirst 6 months of this year it was only 50 millions. In-ventories of the nondurable goods industries, on theother hand, have been declining steadily since the middleof last year. Most of the goods destined for civilianuse are produced by these industries, and growingscarcities of such goods account for a reduction in inven-tories of almost 800 million dollars in the 12-monthperiod ending July 1 of this year.

Evidence bearing on the progress made in achievinga better control of the flow and distribution of materialsis obtained by comparing the stock position at differentstages of fabrication. In 1941 and 1942 manufacturerssubstantially increased their stocks of raw materialspartly because of increased requirements to meetexpanding production schedules and partly as a protec-tive measure in anticipation of future shortages. Sincethe end of 1942 stocks of raw materials have tended to

6 SURVEY OF CURRENT BUSINESS August 1943

decline, and by the middle of this year they were 230million dollars below their value at the beginning of theyear. Contributing to this reversal in trend was thefact that available materials were getting scarcer rela-tive to production needs.

Goods-in-process inventories, on the other hand,have risen continuously this year in line withproduction. The addition of 50 million dollars madein the first 6 months of this year, however, w as onlyone-seventh of the amount added during the first 6months of 1942. While this development would indi-cate better scheduling of production, it is to be notedthat it is consistent with the declining rate of gain inoutput of manufacturers in recent months.

Since the outbreak of war in 1939, finished goodsinventories held by manufacturers were fairly stablewhen compared with the gains made in other inventoryholdings. There was a tendency in the 8 months follow-ing our entry into the war for these inventories to in-crease. The increasing pressure for immediate deliveryand increasing shortages in many lines, however, re-sulted in a declining trend in finished goods stocks sinceJuly 1942. During the first 6 months of this year theseinventories were reduced by 250 million dollars.

Construction

Total new construction activity in continentalUnited States during the first 6 months of 1943 isestimated at 4,524 million dollars. This was 24percent below the total for the same period in 1942and 40 percent below that of the second half of 1942.

Chart 3.—New Construction Activity in ContinentalUnited States 1


1939 1940 1941 1942 1943D.D 43-236

Data do not include work-relief construction.Sources: U. S. Department of Commerce, War Production Board, and U. S.

Department of Labor.

The June 1943 volume of construction was only 722million dollars as compared with the August 1942peak of 1,486 million. (Estimates of the volume ofconstruction activity for each of the last 13 monthsappear on page S-4 of the statistical section.)

Further sharp declines can be anticipated duringthe remainder of the year, particularly as the transi-

tion from production of plant to production of materialbecomes more pronounced. If, as expected, new con-struction expenditures during the second half of 1943run between 3.0 and 3.5 billion dollars, the total for1943 will approach 8 billion. Such a volume will bea marked reduction from the 1942 and 1941 levelsbut will still exceed construction in most years priorto 1941.

Table 4.—New Construction Activity, Continental UnitedStates, First Half 1943

Item

Total new construction - . . _ _

Total private - - -Residential building (nonfarm) * .Nonresidential building:

Industrial. - - _ . . . . -Another

Value(millions

ofdollars),first half

1943 v

4,524

718334

4931

Percentchange

from firsthalf 1942

-24.1

-58.4-64.4

-69.0-80.1

Percentchange

from secondhalf 1942

-40.4

-37.7-36.0

-68.8-44.6

Farm construction:ResidentialNonresidentiaL

Public utility

Total publicResidentialMilitary and naval 2_Nonresidential building:

Industrial2

All otherHighwaySewage disposal and water supplyAll other FederalMiscellaneous public service enterprises._

2128

255

3,806 |428 j

1 , 7 1 5 II

1,38217

171295212

-63 .2-30 .0-32 .0

-10.1+82.1- 8.4

- 3 . 7-81.7-45.9-50.0-72.3-68.4

-63. 2-31.7-20.3

-40.9+17.3-48.6

-35.7-62.2-51.3-42.0-57.4-40.0

^Preliminary.1 Data for private nonfarm residential building were prepared by the Bureau ofLabor Statistics.

2 Based on data prepared by the Construction Research Section of the Bureau ofPlanning and Statistics of the War Production Board.


The decline in total construction has been pacedby the fall of the two dominant components: Militaryand naval construction and publicly financed industrialbuilding. Expenditures on these components were3,097 million dollars in the first half of 1943, a declineof only 6 percent from the corresponding period in1942, but 44 percent below the second half of that year.

The significance of the sharp fall in these two com-ponents directly related to the war effort is reflectedclearly in their relationship to total war expenditures.Together they accounted for about 20 percent of totalwar expenditures in the first three quarters of 1942,less than 14 percent in the last quarter of that year,9 percent in the first quarter of 1943, and only 6 percentin the most recent 3-month period. Except for com-pletion of work already started and for spot projectsthat are found to be necessary for some particular phaseof the war effort, the relative importance of these twocomponents may be expected to be further reduced.

Despite the sharp curtailment of military and navalconstruction and of publicly financed industrial build-ing, these two components still constituted more than61 percent of total activity in June 1943. Nonfarmresidential construction, which has been rising slowlyin recent months, made up over 21 percent and allother types of construction constituted the remainder.


February 1943 marked the turning point in theclearly defined shift that has occurred during the last3 years in the means of financing new construction.The ratio of privately financed construction, whichfluctuated in 1939 and 1940 between one-half andtwo-thirds of the total, dropped below 50 percent forthree of the four quarters of 1941, and by the end ofthe first quarter of 1942 it was less than one-third.This ratio continued to decrease until February 1943,when less than 14 percent of all new construction wasprivately financed. It then began to increase so thatby June it exceeded 20 percent of the total.

The most important factor affecting the level offuture construction activity will be the decisions ofthe central facility clearance agencies of the WarProduction Board. In the reorganization of May 24,two committees were set up to review all constructionexcept "command construction/7 One concentrateson industrial projects and the other on nonindustrial,with the objective of reviewing the essentiality ofprojects already approved and passing upon proposednew ones. The scrutiny of command construction,which includes those projects ordered built by theChief of Staff, U. S. Army, or by the Chief of NavalOperations, U. S. Navy, such as airfields, ports, militaryhospitals, and fortifications, is delegated to the militarybranches.

Transportation

The striking feature of the transportation industryduring 1943 is the continued increases in all forms oftransport, but at an ever-slackening rate. The coalstrikes, the spring floods, the leveling-off of industrialproduction—these and other factors tended to dampenthe increases in the total volume of transportation inthe first 6 months of this year from the more rapidrate of gain in 1942. The Department of Commercetransportation index for the first half of 1943, adjustedfor seasonal variations, was at 210 (1935-39 average

Table 5.—Volume of Transportation, 1941-43

Type of transportation

Total all typesTotal, excluding local transit.

CommodityRailroadsIntercity motor (for hire) -AirWater-borne (domestic) _.Oil and gas pipeline

PassengerPassenger, excluding local transit

RailroadsIntercity motor busAir

Local transit

Indexes (1935-39 = 100)

1941 1942 1943

142146

147146172205124129

126143133143294112

179185

17719419035273140

183236244214291138

216222

20422222056471168

255358387308305170

Percent increase

1941 to

45658350

— 123

1942 to

2120

15151659

- 320

395258445

23

1 1943 data are based on the actual performance for the first six months and esti-mates for the remainder of the year.


= 100), an increase of 10 percent above the last half of1942. This increase was only two-thirds the increasefrom the first to the. jecond half of 1942. The samerate of leveling-off occurred in both the passenger-mileand ton-mile index (see table 5).

Table 6.—Volume of Transportation, Semiannually, 1942-43

Type of transportation

TotalTotal, excluding local

transit

CommodityRailroadsIntercity motor (for hire)_.AirWater-borne (domestic)Oil and gas pipe line

PassengerPassenger, excluding local

transitRailroadsIntercity motor busAir

Local transit

Indexes, seasonally ad-justed (daily average1935-39=100)

1942

Firsthalf

166

172

16818217429385134

161

200194196337129

Sec-ondhalf

197

18720520540561146

205

272295230260148

1943

First,halfi

210

216

20021921751769156

240

338368283304160

Sec-ondhalf 2

222

229

20822522361272190

270

379406334306180

Percent increase

Firsthalf

1942 tosecond

half1942

15

11131838

-289

27

365217

- 2 315

Secondhalf

1942 tofirsthalf1943

Firsthalf

1943 tosecond

half1943

433

184

22

1210180

12

1 June partially estimated.2 Estimated on the basis of trends and factors operating in the industry.Source: U. S. Department of Commerce.

The principal factors that will influence activityfrom now on are manpower and equipment. If theseand other factors operating in the various fields oftransport are taken into consideration, indicationspoint to a continuation of the trends shown in thepast 12 months throughout the remainder of the year.It is estimated that the total index including bothpassenger and commodity transport will reach anaverage of 222 for the second half of this year ona seasonally adjusted basis—-6 percent above the firsthalf. Also, seasonally adjusted, the commodity andpassenger indexes will show increases above the first6 months of this year of 4 and 13 percent, respectively.Thus for 1943 as a whole, the total volume of trans-portation is expected to be 21 percent above 1942,while the commodity and passenger volumes areexpected to rise 15 and 39 per cent, respectively.Rail.

Railroad revenue ton-mile statistics show the firsthalf of this year to be 22 percent above the same periodlast year, but the month-by-month comparison shows adefinite downward trend in the rate of increase. It isexpected that the second half of 1943 will be 8 to 10percent above 1942, resulting in a performance ofaround 730 billion ton-miles for the year, or an increaseof 50 billion above the 1942 record.

The performance of the railroads in bringing oil to theEast coast has been an outstanding achievement, reach-ing a volumo of 1 million barrels a day. With theopening of the "Big Inch" pipeline to the East coast,most of the tank cars will be diverted to the long haul


from Texas directly to the East. Although railroadslost around 10 million tons of coal traffic due to thestrikes, it is likely that this can be made up with theminers back at work and a general observance of the6-day workweek.

Chart 4.—Volume of Transportation 1

RAIL, COMMODITY

(INDEX, DAILY AVERAGE 1935-39 « 100)

250 •INTERCITY MOTORTRUCK "FOR HIRE"

•V,

7

RAIL, PASSENGER AIR, PASSENGER

200

n

INTERCITY

15

MOTOR

^1942

^ \

o o « o O O o » . o

40

BUS

DOMESTIC WATERBORNE,COMMODITY

LOCAL TRANSIT,PASSENGER

OIL AND GASPIPE LINES

\ 1942^

"Is*

i Indexes for commodity and passenger traffic (except local transit) are based uponton-miles and passenger-miles, respectively; index for local transit is based uponnumber of passengers.

Source: U . S. Department of Commerce.

Despite continued appeals by the Office of DefenseTransportation and the railroads themselves to limitpassenger travel to essential needs, the transportationof passengers as registered by passenger-miles hascontinued to show unprecedented increases—the firsthalf of 1943 was about 90 percent above the same periodof 1942. Here too it is not expected that these gainscan continue at such a rate with the present manpowerand equipment situation. The indications are thatpassenger-miles in 1943 will total about 85 billions, anincrease of around 57 percent above last year.

Motor.The greatest problem facing the "for hire" tracking

industry is the manpower shortage which is estimatedat about 35,000 drivers, clerks, and others. Followingclosely behind the manpower problem is equipment,lack of which is expected to be extremely critical thisyear. The American Trucking Association has placed

requirements of Dew trucks and trailers at over 128,000.The equipment outlook is more hopeful as the result ofsteps taken by the Office of Defense Transportation toget the War Production Board to release materials forthe manufacture of almost 114,000 units from now onthrough 1944. The repair parts situation, which isextremely tight at present, should be somewhat easedin the latter part of the year due to relaxation of theWar Production Board ban on parts production. Thus,any further increases in truck performances in 1943must be achieved in a large measure by further increasesin efficiency. Some increases are possible, however, bythe discontinuing of some nonessential services, theembargoing of certain classes of merchandise, andfurther elimination of duplicating routes.

A somewhat brighter picture faces the intercitymotorbus operators, although here too the manpower,equipment, and supplies problems are acute. However,the truck tire supply is much better than was expected.

Passenger revenues for the first half of this year wereabout 50 percent above last year and operators expectthe second half to be even more favorable. The mileagecut of 20 percent in the gasoline-starved Eastern areawill be offset by an increase in passengers and by therelaxation of the mileage cut in the cases of justifiedappeals by some operators. Passenger-miles should beabout 45 percent higher in 1943 than in 1942.Air.

Air transport continued to make outstanding gains.Express and mail pound-miles are reaching new highseach month. Present indications point to an increasein air commodity traffic in 1943 of about 60 percentabove the 1942 high record. At the same time, passen-ger traffic has advanced above 1942. The currentestimate is for a 5 percent gain over last year. Thisexcellent showing in both air freight and passengertraffic is being achieved despite the pressing need formore equipment and despite the same manpowerproblem which faces all industry.

With no new equipment in immediate prospect, anda reduction of some 40 to 50 percent in the total numberof planes through diversion to the Army, the airlinesare operating their remaining ships at nearly 90 percentof capacity. This has been accomplished by discon-tinuance of unprofitable flights and a greater proportionof long-haul freight traffic. Manpower is becomingmore critical, especially in the maintenance depart-ments. These departments assume added importancein making it possible for the airlines to keep their inade-quate number of planes almost continuously in serviceto meet present-day demands.Pipe Line.

The volume of pipe-line traffic increased 10 percentduring the first half of 1943 over the same period lastyear. This increase can be attributed almost entirelyto the record-breaking oil movement to the East coast

(Continued on p. 27)


National Product and Income in theFirst Half of 1943

By George Jaszi, National Income Unit, Bureau of Foreign and Domestic Commerce

Editor's Note.— National Income and National Prod-uct in 1942 were discussed by Milton Gilbert and GeorgeJaszi in the Survey of Current Business, March 1943issue. Detailed notes to the statistical tables can alsobe found in that article.

THE major trends which were manifest in theAmerican economy during 1942 continued in the

first half of 1943. Gross national product, the aggre-gate value of currently produced goods and servicesflowing to government, to consumers, and—for purposesof gross capital formation—-to business, expandedfurther under the impetus of growing war expenditures.

Chart 1.—Utilization of Gross National Product, SeasonallyAdjusted Annual Rates

BILLIONS t»F DOLLARS250

Source: U .S . Department of Commerce.

Private capital formation was again reduced, allowingfurther diversion of capital goods and the resourcesproducing them to the war sector. Increasing incomesgenerated by expanding war production continued toresult in buoyant consumer expenditures, which wereportly fed by further heavy drains on business inven-tories. New records were established in the level ofindividual savings.

While on the surface the economic picture appearedsimilar to that of 1942, it was evident that a new stagein the development of the war economy was beingreached. This was brought about by the fact that,owing mainly to shortages of manpower and otherresources, industry was approaching a ceiling on totaloutput. Even without correction for price rise, therate of growth of gross national product slackened inthe first half of 1943. Likewise there occurred aleveling off in the trend of war expenditures, whoserapid upward movement had been the most dynamic

539303—43 2

element in the economic situation in 1942. Highconsumer expenditures reflected partly a rise in prices,which masked to an increasing extent the effect of themore static character of productive activity on grossnational product. Although not all pervasive in thepast six months, this limitation on the expansion oftotal production must dominate any appraisal of theeconomic outlook.Gross National Product and Its Components.

As can be seen from chart 1, gross national productreached a new high in the second quarter of 1943, in-creasing from an annual rate of 169.1 billion dollars inthe fourth quarter of 1942 to 184.9 billion. The pace,however, at which national product was growing hadslackened from an annual rate of llK billions in thelatter half of 1942 to less than 8 billions in the first halfof 1943.War Expenditures.

The smaller expansion of national product wasreflected in the leveling off of war expenditures. Inthe latter half of 1942 this component of gross nationalproduct showed quarterly increases of 3.9 and 3.4billion dollars. The corresponding increase in thefirst quarter of 1943 was only 1.1 billions. It was 3billions in the second quarter, but in interpreting thisfigure it should be noted that the larger increase wasdue mainly to exceptionally heavy war purchases ofagricultural produce.

War expenditures continued to absorb an increasingproportion of gross national product, 47 percent in thesecond quarter of 1943, as compared with 42 percent inthe fourth quarter of 1942. But the more static char-acter of war production found reflection in this measurealso, the above gain of 5 points comparing with a gainof 14 points between the second and fourth quarters of1942.

Year and quarter

1942:

III I II V

1943:

II

Grossnationalproduct

War ex-penditures

Billions of dollars, seasonal-ly adjusted annual rates

133.8146.2157. 6169. 1

177.8184.9

27.741.557.170.9

75.087.1

War ex-pendituresas percent

of grossnationalproduct

21283642

4247

The main element in the leveling off of war expendi-tures was the decline in war construction both of indus-trial and of military facilities. As can be seen from


chart 2, military, naval, and public industrial construc-tion in the continental United States reached its peakin the third quarter of 1942, and had fallen to less thanone-half of that level by the second quarter of 1943.This sharp decline, which is proceeding according toschedule, is merely the result of the fact that the Nationwill soon be fully equipped with the fixed facilitiesnecessary for the production of munitions and for theactual conduct of military operations. Resources arebeing liberated from the preparatory task of buildingthese facilities for the direct production of implementsof war.

Chart 2.—Military and Naval and Public Industrial NewConstruction in Continental United States


1941 1943 DD 43-420

Sources: War Production Board and V. S. Department of Commerce.

In addition to this decline in construction, the pro-duction of munitions has not continued to advance atthe rate that characterized the latter half of 1942. Thismay be explained, first of all, by the fact that it isincreasingly difficult to maintain given rates of growthas the absolute level of output approaches a ceiling.Secondly, there have occurred considerable shiftsamong the types of munitions called for by the produc-tion schedules. Such shifts must necessarily interferewith the smooth growth of munitions output.

Other Government Expenditures.

After declining sharply over a period of years Federalnonwar expenditures continued at about the levels ofthe corresponding period a year ago. (The erraticquarterly movement of these expenditures is due largelyto the transactions of the Commodity CreditCorporation.) Interest payments on the public debthave become such an important portion of the totalthat their steady rise will probably more than offsetsuch further fall as is still occurring in other nonwarexpenditures of the Federal Government. Indicationsare that expenditures of State and local governmentshave declined further. But here, too, the main periodof decline seems to be over. State and local govern-ment pay rolls are stable and no further appreciabledrop is likely in State and local construction.

Private Gross Capital Formation.Because war expenditures competed directly for

many of the products that normally are bought byprivate business for purposes of gross capital formation,and because for technical reasons the resources engagedin the production of these goods could most easily beconverted to the production of war goods, the restrictiveinfluence of the war program on civilian output made itsmost marked imprint on private gross capital forma-tion. Private construction and private purchases ofdurable equipment declined by about two-thirds fromthe last quarter of 1941 to the corresponding quarter of1942. This trend continued into 1943. A slackeningin the rate of decline was noticeable, however, and itcan be assumed that the minimum of these two com-ponents of national product is being reached. Allow-ing for seasonal factors, private construction fell onlymoderately between the first and second quarters of1943, and the decline in private purchases of durableequipment slackened both in absolute and in percentageterms.

The heavy drain on business inventories continuedthis year and sizeable drafts are being made on theforeign balance. Eeduction of business inventories hasnow proceeded for a full year. It is serving as a power-ful support of civilian consumption, which is proceed-ing at levels that considerably exceed current produc-tion of consumers' goods. Inventories have beenreduced substantially and, as it is obvious that drafts onthem cannot continue indefinitely at the present rate,civilians will feel increasingly the restrictions on currentoutput available for their use.

The ratio of inventories to sales has declined sharply,not only because of the fall of stocks but also becauseof the increase in sales. The absolute volume of inven-tories, however, is still high and further substantialreductions are probable. While this will mean unusu-ally low inventory-sales ratios, the physical shortage onthe supply side and the effects of price control on thedemand side are likely to make it impossible for businessto maintain what it ordinarily considers adequatestocks.Consumer Expenditures.

In the first quarter of the year consumer expendi-tures x continued the phenomenal advance which hadbeen in evidence in 1942. Seasonally adjusted con-sumer expenditures were flowing at an annual rate of90.2 billion dollars, or nearly 5 billion dollars above theall-time high in the previous quarter. The major partof the rise was due to a spurt in purchases of clothingwhich increased sharply on a seasonally adjusted basis.Other major categories of goods, with the exception ofdurable goods and gasoline, increased more moderately,and expenditures on services continued their steadyadvance. Consumer expenditures in the second quarter

i Consumer expenditures, as here denned, include expenditures of soldiers out ofcash pay and allowances. They do not include goods and services furnished to themin kind.

August 1943 SURVEY OF CURRENT BUSINESS 11

receded only slightly from this high level. In the firsthalf of 1943 they rose 12 percent over the correspondingperiod a year ago.

A correction of consumer expenditures for the rise ofprices that is occurring does not alter this generalimpression of a high level of consumer purchases. Ascan be seen from chart 3, consumer expenditures, ex-pressed in constant 1939 dollars, mounted from a levelof around 60 billions in the beginning of 1939 to aplateau of 70 billions in 1941, around which they havefluctuated in 1942. In the current year they have ex-ceeded this level. No decrease in real consumptionduring the war is revealed by the accepted techniquesof statistical deflation.

Chart 3.—Consumer Expenditures for Goods and Services,Seasonally Adjusted Annual Rates


20

1939 1940 1941


1943D.D. 43-4 22

Attention is again drawn to certain difficulties in themeasurement of real consumption. It is not possiblein these measurements to take account of all qualitychanges or of the fact that some price quotations maynot be representative. Nor is it possible to make statis-tical allowance for the loss of consumer satisfactionwhich results from the fact that, although the over-allvolume of consumption is being maintained, the con-sumer's freedom of choice has been seriously restrictedby the shortage of durable goods and more recently of anincreasing range of other commodities.

While it is not possible to make quantitative allow-ance for these factors, comparisons with other warringcountries can be made, where similar difficulties inmeasuring real consumption are present. In GreatBritain, for instance, real consumption in 1942 hadfallen about 20 percent below the level of 1938 the lastyear of peace. In the United States, real consumptionin 1942 stood 13 percent above the level of 1939, thelast year in which the American economy was unaf-fected by rearmament or war.

The divergent experience of the two countries wasdue to the fact that, with a larger volume of unemployed

resources at hand initially, the United States couldfill the requirements of the rearmament program largelyby industrial expansion. In Great Britain the scopefor expansion was smaller, and diversion from civilianuse had to be greater. In addition, in a country asgreatly dependent upon imports as Great Britain, theconsumer was severly affected by the acute shortage ofshipping.

In the light of these comparisons the extent of curtail-ment which rearmament and war have forced upon theAmerican consumer so far appears small indeed, andnotions to the contrary seem to be based on unwar-ranted generalizations from regional shortages of partic-ular commodities rather than on a sober evaluation ofthe over-all position.

The high level of consumer purchases has far-reaching implications with respect to the working ofthe war economy. As long as manpower shortages didnot constitute one of the major economic bottlenecks,it was reasonable to argue that a high level of realconsumption was no drag on the war effort. Thisargument was valid because equipment and materialthat was required by the war program and that wasin excess of minimum civilian needs, had already beenwithdrawn from industries producing for civilian con-sumption. It is doubtful whether with a general man-power shortage the same view can still be taken ofthe high level of real consumption. The rising flowof money expenditures, on the other hand, constitutesa focal point of the threats to the smooth working ofthe domestic economy. It exerts a tremendous pres-sure on prices which is causing serious breaches inthe price control and rationing programs, and is theroot of a great part of the difficulties being encounteredon the domestic front.

Changes in Distributive Shares.

National income, the sum of distributive sharesaccruing to factors of production, including the netsavings of corporations, continued to expand rapidly,from an annual rate of 131.8 billion dollars in thelast quarter of 1942 to 146.1 billions in the secondquarter of 1943. The pattern according to which thisgain was distributed was similar to that of 1942,though some significant changes in relationships canbe noted. Net incomes of farm proprietors and com-pensation of Government employees, including thepay of the armed forces, increased most markedly,each by about 20 percent from the last quarter of 1942to the second quarter of 1943. Compensation ofprivate employees increased by 9 percent over the sameperiod. Preliminary data on corporate profits indicatea sizeable increase of net profits after taxes. Between1941 and 1942 net profits were limited by an increasein tax rates. No such offset to rising business volumehas been present in the past 6 months.


Table 1.—Gross National Product or Expenditure, Quarterly, 1941-1943: Seasonally Adjusted Annual Rates l

[Billions of dollars]

Line Item

Gross national product or expenditureGovernment expenditures

Federal Government . _. __WarNonwar

State and local governmentOutput available for private use

Private gross capital formationConstruction . _.Producers' durable equipment. __.Net change in business inventoriesNet exports of goods and servicesNet exports and monetary use of gold and silver

Consumers' goods and servicesDurable goodsNondurable goodsServices

1943

I

177.887.981.175.06.06.8

89.8- . 41.62.6

- 3 . 9- . 6—. 190.2

6.555.028.7

II

184.996.789.987.1

2.86.8

88.1- 1 . 1

1.52.0

- 3 . 4- 1 . 1

89.26.3

53.829.1

1 Detail will not necessarily add to totals because of rounding.2 Less than $50,000,000.

Table 2.—National Income by Distributive Shares, Quarterly, 1941-43: Seasonally Adjusted Annual Rates ]


Line Item

Total national incomeTotal compensation of employees

Salaries and wagesSupplements

Net income of proprietorsAgriculturalNonagricnltural

Interest and net rentsNet corporate profits

I

85.257.453.63.7

13.45.08.57.66.7

1941

II

93.162.558.73.8

15.06.09.07.97.7

III

99.67.63.

3.16.6.9.8.8.

526638500

IV

104.671.167.5

3.617.27.2

10.08.18.2

I

108.975.071.4

3.518.58.4

10.18.27.1

1942 1943

III

115.780.577.0

3.419.59.2

10.38.37.4

122.886.283.0

3.320.39.9

10.48.57.8

IV

131.893.089.7

3.322.011.310.78.88.1

140.1 199.1 i95.8 !3.3 !

23. 4 I12.610.89.18.5

146.1103.2100.0

3.224.613.611.09.5

1 Detail will not necessarily add to totals because of rounding.

Table 3.—-Disposition of Income Payments, Quarterly, 1941-43: Seasonally Adjusted Annual Rates l


Income payments to individualsLess: Personal taxes and nontax payments-.

FederalState and local

Equals: Disposable income of individuals.. .Less: Consumer expendituresEquals: Net savings of individuals

1942

82.84.02.01.9

78.971.0

89.74.02.01.9

85.773.712.1

I I I

95.84.02.01.9

91.877.314.6

IV

111.6.4.1.

104.79.25.

6679954

III

118.16.64.71.9

111.582.828.7

IV

126.6.4.1.

120.85.34.

1943

134.714.612.71.9

120. 190.229.9

II

140.514.712.81.9

125.889.236.6


Table 4.-~Relation of Gross National Product to National Income, 1939-43 '


Line

12345678

Item

National incomeBusiness tax and nontBY liabilities.Depreciation and denletion chargesOther business reservesCapital outlays charged to current expense.Inventory revaluation adjustmentAdjustment for discrepanciesGross national product or expenditure

1939

70.810.46.2

.8

.7— 40

88. 6

1940

77.812.46,4

.9

.9— 4- . 997.0

I

20.84.01.7

2.3

— 5- . 526.0

II

23.04.51.7.2.4

.229.3

1941

III

24.74.81.8

2.4

— 9— .830.2

IV

27.15.01.8.3.4

- 1 . 1

33:7

Total

95.618. 36.91.01.5

—3.2- . 8

119.2

I

26.25.61.9.2.3

0

- L 032.4

II

28.45.91.9. 3.4

- . 6. 5

36.7

1942

III

30.96.22.0

. 3

.4- . 2- . 639.0

I V

34.36.42.0

. 3

.4- . 5

.843.6

Total

119.824. 07.81.01.5

- 2 . 1

151.7

1943

I

34.06.32.0

. 2

.4- . 3

.543.1

II

35.96.82.0

.2

.4- . 31.4

46.4



Table 5.—-Gross National Product or Expenditure, 1939-43 *[Billions of dollars]

Line

12

3456789

10111213

14

15

16171819

Item

Gross national product or expenditureGovernment expenditures for goods

and services.-.Federal Government

WarNonwar

State and local government _ __.Output available for private use

Private gross capital formationConstruction

ResidentialOther

Producers' durable equipment-Net change in business inven-

toriesNet exports of goods and serv-

icesNet exports and monetary use

of gold and silverConsumers' goods and services „

Durable goods ,._,Nondurable goodsServices- _.__

1939

88.6

16.07.91 46.58.1

72.610.93 62 01.65.5

.9

.8

.261.76.4

32 622.7

1940

97.0

16.78.82 76.17.9

80.414.74 32.42.06.9

1.8

1.4

.365.77.4

34.423.9

1941

I

26.0

5.33.31.91.42.0

20.74.11.0.5.5

2.3

.6

.2

(2)16.6

1.98.56.2

I I

29.3

6.03.92.51.42.1

23.34.71.4. 7.6

2.4

.8

.2

(2)18.62.69.76.3

I I I

30.2

6.34.63.41.21.7

23.95.01.6.9.7

2.0

1.0

.3

.118.92.2

10.36.4

I V

33.7

8.16.14.71.32.1

25.65.11.4.7.7

2.3

1.2

.2

(2)20.5

2.311.66.5

Total

119.2

25.717.812.55.37.8

93.519.05.42.92.58.9

3.5

.9

.274.69.1

40.125.4

I

32.4

10.08.06.91.12.0

22.33.5

.9

.5

.41.8

.6

.1

.118.8

1.410.76.7

I I

36.7

14.012.010.4

1.62.0

22.72.9

.9

.5

.41.5

.4

.1

(2)19.8

1.511.46.9

1942

I I I

39.0

17.015.414.3

1.21.6

22.01.6.7.3.4

1.1

- . 3

.1

(2)20.3

1.511.96.9

I V

43.6

20.718.917.7

1.11.8

22.9- . 1

.5

.2

.3

.8

- 1 . 4

(2)

(2)23.1

2.014.07.1

Total

151. 7

61.754.349.3

5.07.4

89.98.02.91.51.55.1

—.6

.4

.182.0

6.448.027.6

1943

I

43.1

22.020.318.8

1.51.8

21.1.1. 3 '.1.2.6

—.7

- . 1

(2)21.01.3

12.57.2

I I

46.4

24.322.521.8

.71.8

22.1jA.2.2.5

- . 7

- . 3

(2)

22.31.6

13.47.3

1 Detail will not necessarily add to totals because of rounding.J Less than $50,000,000.

Table 6.—National Income by Distributive Shares, 1939-43 1


Line

123456789

1011

Item

Total national incomeTotal compensation of employees

Salaries and wagesSupplements

Net income of proprietorsA g r i c u l t u r a l .__ ._ „Nonagricultural

Interest and net rentsNet corporate profit _

DividendsSavings

1939

70.848.144.2

3.811.24.36.97.44.2o c. 4

1940

77.852.448.7

3. 712.24.47.87.55.84.01.8

1941

I

20.814.313.3

1.03.21.12.11.81.6.9.6

II

23.015.714.7

1.03.41.22.32.11.91.0.9

III

24.716.615.7

.94.21.82.41.92.01.01.1

I V

27.118.017.1

.94.72.22.52.12.21.6.7

Total

95.664.660.93.7

15.56.29.37.97.74.43.3

1942

I

26.218.317.4

.94.21.72.52.01.7.9. 8

II

28.420.019.1

.94.41.92.62.21.8.9.9

III

30.921.620.8

.85.32.72.62.02.0.9

1.0

IV

34.323.722.9

.86.13.42.72.32.21.2. 9

Total

119.883.780.3

3.420.1

9.710.48.47.64 03.6

1943

I

34.024.623.8

.85.22.52.72.22.0

.81.2

I I

35.925.925.1

. 85. 4

fi £ 2 . 6;2.8

1 2.62.1. 9

1.2

Detail will not necessarily add to totals because of rounding.

Table 7.—Disposition of National Income, 1939-43 1


Line Item

National income „Add: Transfer payments . . ______._.Less: Corporate savings

Contributions to social insurancefunds.

Equa-s: Income payments to individuals . . .Less: Personal taxes and nontax payments

Federal _ . . .State and local .

Equals: Disposable income of individualsLess: Consumer expendituresEquals: Net savings of individuals

1939

70.82.4

.4

2.070.83.11.31.9

67.761.76.0

1940

77.82.61.8

2.176.5

3.31.41.9

73.265.7

7.5

20.8.7

20.21.4.8.5

18.916.62.3

23.0

22.11.0.5.5

21.118.62.5

1941

I I I

24.7.6

1.1

23.6.7.4.3

22.918.94.0

IV Total

27.1

.726.3

1.0.4.6

25.320.54.8

95.62.53.3

2.692.24.02.01.9

88. 274.613.7

1942

26.2.7

25.32.52.0.5

22.818.84.0

28.4.6.9

27.41.61.0.5

25.819.86.0

I I I

30.9.6

1.0

29.71.21.0.3

28.420.38.1

IV Total

34.3.6

33.11.3.7.6

31.823.18.7

119.82.63.6

3.3115.5

6.64.71.9

108.882.026.9

1913

I II

34.0.7

1.2

32.63.93.3.5

28.721.07.7

35.9.8

1.2

1.034.53.63.0.5

31.022.38.7


The growth of interest income reflected largerinterest payments on the public debt. Net incomeof nonfarm proprietors increased less markedly.

Relation of Income Payments to Gross National Product.

Income payments to individuals—-which differ fromnational income by excluding the savings of corpora-tions and pay-roll taxes, and by including transfer pay-ments such as relief, pensions, and allowances tosoldiers7 dependents—rose from an annual rate of 126.7billion dollars in the last quarter of 1942 to 140.5 billions

in the second quarter of 1943. In spite of the buoyancyof incomes some traces of the less dynamic character ofproductive activity were discernible. Manufacturingwages and salaries, Federal Government pay rolls (in-cluding the pay of the armed forces) and net incomes offarm proprietors showed successively smaller increasesin the first half of 1943, and pay rolls in the contractconstruction industry declined from their 1942 peak.These components of income payments have accountedfor most of the increase in the total during the warperiod. The slackening in the expansion of total


income payments was, however, somewhat less pro-nounced than in gross national product. Whereasgross national product increased by 16 percent betweenthe second and fourth quarters of 1942 and by only 9percent between the latter period and the secondquarter of 1943, the corresponding figures for incomepayments were 13 and 11 percent.

It is interesting to speculate why at the present timethe more static character of production is somewhatmore easily discernible in national product than in in-come payments. The sums of money paid out by thebuyers of the national product do not all generateincome payments to individuals. Part of them areabsorbed by corporate savings and by business reserves,such as reserves for taxes, depreciation and depletion,bad debts, etc. For several reasons, the relative impor-tance of these items is decreasing at present.

An increasing volume of payments is made directly toindividuals in the armed forces. These payments resultwholly in income payments without any previous cutbeing taken for corporate savings or reserves. Thesame holds true of the increasing share of income that ispaid out to farmers. Furthermore, a growing propor-tion of industrial production takes place in plants ownedby the Government. Payments with respect to this pro-duction also result wholly in income payments to indi-viduals and do not generate business saving or reserves.Another type of payment that enters income paymentsbut not national product are allowances to soldiers'dependents which are now being paid out in increasingamounts, and more than offset the decline in othertransfer payments.

While the proportion of direct payments to individualsis thus increasing, there are indications that even withrespect to the payments initially received by corpora-tions, a larger proportion is paid out to individuals.Reserves for special amortization are leveling off as theconstruction of emergency facilities under the system ofcertificates of necessity is nearing completion. Thesame holds true of reserves for depletion as the outputof the extractive industries is approaching its peak.The expectation that legislation will not be enacted intime to increase tax liabilities on 1943 business receiptsor incomes is resulting in an increase in reserves forbusiness taxes which is smaller than the one which hasoccurred in the past year.Individual Savings.

In spite of the continued rise of income payments thephenomenal growth of individual savings—which in-clude the savings of unincorporated business—wasinterrupted in the first quarter of 1943. On a seasonallyadjusted basis these savings declined from an annualrate of nearly 35 billions in the fourth quarter of 1942 to30 billions in the first quarter of 1943. This drop wasdue to an increase in personal taxes and high consumerexpenditures. Payments of Federal income tax atsharply increased rates on 1942 incomes, and theVictory Tax on wages and salaries currently paid out

constituted the principal sources of the increase in taxes.It is significant that the effect of heavier tax paymentsis clearly reflected in a reduction of individual savingswhereas it leaves no measurable imprint on consumerexpenditures.

By the second quarter of the year the further growthof incomes had obliterated the effects of increased taxpayments. Individual savings were being generatedat an annual rate of nearly 37 billion dollars, or 2billion in excess of the previous high level.

The more than doubling of gross national productsince 1939, two-thirds of which has been due to anincrease in physical volume rather than to a rise inprices, indicates that the economy has responded to theproduction requirements of the war program. Ininterpreting the significance of the surging level ofsavings, one should remember that these savings includewindfalls that are the result of the price rise, and thatthey exceed the amount of voluntary saving whichconstitutes an offset against inflation at the currentlevel of income. A large proportion of savings, more-over, continues to be made in highly liquid form, andwill constitute a latent inflationary threat, unless it isabsorbed by taxes or immobilized by other means.

NOTE.—In connection with the savings estimates for 1943attention should be drawn to certain statistical difficulties in theestimation of Federal income tax payments. Until the currentyear quarterly unadjusted payments of Federal income tax weremeasured by quarterly collections. The adjusted quarterly serieswras derived by allocating total annual payments evenly amongthe quarters, as though these payments had been made in fourequal quarterly installments.

In recent years, when both incomes and tax rates were rising,this treatment did not eliminate sharp increases in the personaltax series between the fourth and the first quarters. It wasrealized that for certain purposes, for instance, for a quarterlycomparison of consumption, savings and disposable income, afurther smoothing of the tax series might be desirable. Thiswould involve allocating part of the in erased tax burden of agiven year to the last quarter of the previous year, on the groundthat the spending and saving decisions of individuals were alreadyinfluenced by the anticipation of heavier tax payments in theensuing year. But such adjustment was not made in the pub-lished series, because it transcends the character of a seasonaladjustment and because it would have involved too large anelement of arbitrary discretion.

In the current year further complications have arisen. Owingto the administrative difficulties in handling the large volume oftax returns a substantial part of quarterly payments are notreported as collections until the first month of the next quarter.It becomes necessary to estimate the spill-over and to allocateit to the previous quarter. Also, Victory tax has to be allocatedto the quarter in which it is deducted from pay rolls rather thanthe quarter in which it appears in collections. A whole quarterof Victory tax deductions had to be estimated on the basis ofinformation wThich is extremely scanty owing to the newness ofthe tax. Because of the change in the tax collection system thatbecomes effective in the second half of the year under theCurrent Tax Payment Act of 1943 the adjusted individualincome tax series for the first twTo quarters of 1943 was calculatedby averaging estimated payments in the two quarters andexpressing them as annual rates. Indications are that seasonalfactors in the first two quarters' Victory tax deductions are slight,and it was decided not to attempt a correction for these factors.


Sales of Wholesalers, 1929-43By Louis J. Paradiso and Lawrence Bridge, Current Business Analysis Unit, Bureau of Foreign and Domestic Commerce

FROM the point of view of sales volume, wholesaletrade is the most important, next to manufacturing,

of the major industrial divisions of the economy.In 1939, for example, sales of manufacturers amountedto almost 57 billion dollars, while sales of wholesalerstotalled 55 billion. In this same year sales of retailstores amounted to 42 billion dollars, while sales orreceipts of other major industrial groups shown intable 1 were considerably lower.

Moreover, in spite of the significant relative shiftsof these groups in the war period, wholesale tradehas remained second in importance. The contributionof wholesaling to the total net national income is alsoconsiderable. In 1939 wholesale trade accounted for5.4 percent of the total national income produced,and this position has been maintained fairly wellsince [then. Thus in 1939 wholesale trade was moreimportant as a source of income than mining, con-struction, the electric power and gas, and communica-tion industries.

The true significance of wholesaling in the economy,however, lies in the general economic functions per-formed by wholesale institutions. Their principalfunctions may be briefly described as follows: (1) Theassembling and distributing of goods wanted by con-sumers and producers; (2) the collecting of informationon demand for goods and translating this into ordersto producers; and (3) the storing of surplus goods,making it possible to satisfy the needs of consumersand producers speedily and in the right amounts.

Table 1.—Comparative Statistics for Specified Industries, 1939

Industry

ManufacturingWholesalingRetailingAgricultural 3_-_Transportation _Construction

Number ofestablish-ments 1

184, 230200, 573

1,770,3556, 096,799

39, 000215, 050

Personnel1

Thousands8,9361,6966,211

10,7402,2981,300

Value ofoutput or

sales !

Millions ofdollars

56,84355,26642,0427,8146,3724,520

Net incomeproduced 2

Millions ofdollars

16,9653,8217,1355,2304,9501,942

1 For all industries except transportation data are based on Sixteenth DecennialCensus 1940, Bureau of the Census. Transportation estimated by the use of infor-mation from several governmental agencies and other sources; value of output isiepresented by total revenues.

2 Bureau of Foreign and Domestic Commerce, U. S. Department of Commerce.3 Number of establishments represents number of farms; personnel includes family

workers and hired hands and is based on estimate of the U. S. Department ofAgriculture.

During this war period these functions have assumeda much greater importance. In the process of con-version to war, industry relied to a greater extent

i Acknowledgment is made of the contribution of Morris Kaufman in the earlystages of the statistical work.

on wholesalers for the much needed supplies of pro-ducers7 goods which these establishments had on hand.Thus it was that stocks of wholesalers were beingdepleted long before manufacturers' or retailers' in-ventories. With growing scarcities of goods for con-sumers and with greater consumer demands arisingfrom increased purchasing power, wholesalers w erestrongly pressed by retailers to make these demandsknown to producers and to try to fill them in everypossible way. Hence, in this critical period, whole-salers, in addition to their other economic functions,have served to introduce some measure of stability ina market mechanism which could have easily becomechaotic.

In recognition of the usefulness of current informa-tion on wholesaling, not only in the war period butalso in appraising consumer demand and productiveactivity in the post-war years, this article presentsmonthly estimates of wholesale sales for the years1939 to 1943 and annual estimates for 1929, 1933, and1935-39. In addition to total sales, estimates arealso presented for 19 groups of wholesale businessand for the service and limited function wholesalersseparately.

The Field of Wholesale Trade

The most general definition of wholesaling wouldinclude all marketing transactions in which the pur-chaser is actuated by a profit or business motive inmaking the purchase.2 In this broad aspect, whole-sale sales would embrace, for example, all sales toretailers, to industrial consumers and governmentalbodies. They would include sales of equipment andsupplies to service establishments, whether made byproducers, wholesalers, or other types of organiza-tions, so long as the customer in buying the goodsdid not use them for his personal satisfaction. Ac-tually, statistical measures corresponding to thisbroad concept are not available, and even if avail-able they could not easily be compared or analyzedwith existing measures of activity for other industrialfields because the same sales would be counted inseveral industries.

The concept here adopted is as given by the Bureau ofthe Census in its report on the Census of Business forWholesale Trade.3 Wholesaling in this sense includes,in addition to the conventional types of wholesalers,manufacturer-owned sales outlets, petroleum bulk

2 For a more detailed discussion of the principles and practice of wholesaling, seeBeckman and Engle, Wholesaling, the Ronald Press Company, New York, 1937.

3 See Census of Business, volume II, Wholesale Trade, 1939, Bureau of the Census,Department of Commerce.


stations, agents, brokers, and assemblers of farm prod-ucts. The most important of these types, of course,both in number of establishments and volume ofbusiness are the service and limited-function whole-salers—-those of the more conventional type plusmerchants engaged primarily in foreign trade. Theirproportion of total wholesale sales has been fairlyconstant since 1935, amounting to about 43 percent.

Table 2.—Sales of Wholesalers, 1929, 1933, and 1935-42

Year

1929193319351936193719381939194019411942

Nondu-rablegoods

establish-ments

Dmgo<

esta1

me

ible)dS>lish-n t s

Allwhole-salers

Serviceand

limited-functionwhole-salers

Millions of current dollars

49,21724,21032, 79238, 47941,58537, 92740,16243, 85257,01870, 595

17, 7675, 794

10,01113, 28515, 00112, 55515,10417, 92627, 60825, 880

166, 98430, 01042, 80351, 76456, 58650, 48255, 26661,77884, 68696, 475

29, 28812. 82118, 34922,15524, 21921, 60723, 6'z226, 43936, 24241, 290

IS1 on du-rablegoods

establish-ments l

Durablegoods

establish-ments i

Allwhole-salers *

Millions of 1935-39 dollars

012074212458307317600630902129

15,6156, 689

10,61413,96114,28412, 19014, 72817,12225, 05022, 235

55, 62737, 76342, 82651,41952, 59152, 50758, 32863, 75276, 95278, 364

i Total dollar sales adjusted for wholesale price changes.

In classifying business concerns as wholesalers thereis the further problem for those that also carry on busi-ness in other fields such as retailing, farming, or manu-facturing. In these cases the Census has adopted the50 percent rule. Establishments are classified in oneactivity or another according to the bulk of theirbusiness. The number of cases in which it was neces-sary to apply this rule, however, was relatively small.

The monthly estimates of wholesale sales shown intables 2-4 are based primarily on the monthly sampleof wholesalers reporting to the Current Statistical

Service of the Bureau of the Census. This samplecovers about 1.5 percent of total establishments andabout 5 percent of total sales. For each kind of busi-ness, the sample was analyzed in relation to the com-plete census coverage in 1935 and 1939 and adjustedto the census levels in these years. (A more detaileddescription of the reliability of the sample and technicalmethods used in constructing the sales data is given inthe notes to this article.) Because of inadequate cover-age for certain types of business, the sales estimatespresented in this report are to be considered as prelimi-nary and will be revised as more intensive work iscompleted on the subgroups.

Sales at an All-Time Record in 1942

The rapidly mounting government expenditures fornational defense since the middle of 1940 had importanteffects on the wholesale trade as well as on manufactur-ing, retail trade, and other industries of our economy.The pre-war peak in wholesale sales was reached in 1929,amounting to 67 billion dollars. At the bottom of thedepression, sales had fallen to well under one-half of thisfigure and since then have recovered fairly rapidly. Buteven in 1940 they were below the 1929 peak.

Stemming from the effects of the defense program,however, total wholesale sales in 1941 increased 37percent from 1940. This increase was almost as greatas the spectacular rise in manufacturers' sales over these2 years, and compares with a less than 20 percentincrease in sales of retail stores.

The larger increase in wholesale sales over this periodwhen compared with the corresponding increase insales of retail stores is due mainly to the fact that man-ufacturers produced a record volume of consumers7

goods and an all-time record volume of producers*

Chart 1.—Sales of Wholesale Establishments and Retail StoresBILLIONS OF DOLLARS120

ANNUAL TOTALS

WHOLESALERSSTORES

100

8 0

60

4 0

2 0

1929 '33 '35 '36 '37 '38


[ I l lSEASONALLY ADJUSTED AT ANNUAL RATE


i i i i I i i i i i i i i i i i i i i i

IOO

8 0

6 0

4 0

20

1939 1940 1941 1942 1943D.D. 43-437


equipment, much of which passed through wholesalemarkets. Since only small quantities of producers'durables go through retailers, wholesalers had the ad-vantage of being able to participate in the increasedbusiness of both types of goods.

During 1942 the conversion of industries to war tookplace on a wide scale and war goods were being producedat an accelerated pace. In this process many whole-salers were short-circuited and while total sales con-tinued at record levels during the year, the rate ofexpansion was considerably less than the rise in sales ofmanufacturers. Thus, total wholesale sales in 1942increased 14 percent from 1941 and since 1942 a furtherdecline in the rate of expansion has taken place. Infact, sales for the first six months of 1943 were only 6percent above the first six months of 1942.

Chart 2.—Wholesalers' Sales of Durable andNondurable Goods

BILLIONS OF DOLLARS0 0

ft rj

6 0

4 0

?0

0

SEASONALLY ADJUSTED AT ANNUAL RATE

NONL1URABLE GOOL

i i t i i ! I i i i i

/

/

DURABLE t

i i i i i 1 i i i i i

100DS*.

i i i i i 1 i i i i i

. . . . . .

i i i i i I i i i i i

1939 1940 1941


1942 19430 0. 43-436

Since the outbreak of war wholesalers had increasingdifficulties in obtaining supplies of durable goods,particularly those containing critical metals and goodsfor consumer use. Supplies of nondurable^, however,were still relatively plentiful and wholesale establish-ments dealing primarily in these products increasedtheir sales by 24 percent from 1941 to 1942.

In contrast, those establishments selling primarilydurable commodities showed a decline of almost 8 per-cent. It is to be noted that this decline is not as greatas the one-third drop in sales of retail stores handlingprimarily durable goods. Most of the durables soldby retail stores are consumer durables whose output washeavily curtailed in the past year and a half. Whole-sale establishments, on the other hand, sell in additionto consumer goods a considerable proportion of pro-ducers' durables which were still being produced inlarge volume in 1942.

Further shortages of civilian goods of all types arenow being felt to a much greater extent by wholesalers.Thus, in the first half of this year sales of nondurable

goods establishments showed only 10 percent increasefrom the same period of last year, while sales of thedurable goods establishments declined by the samepercentage.

1943 Quantity Sales Are Below 1942 Levels

A considerable portion of the increase in dollarwholesale sales in the recent period has resulted fromthe rise in the price of goods. Lack of data makes itimpossible to measure directly the movement of thephysical quantity of goods sold. An indication of thechanges in physical quantities, however, may be ob-tained by dividing sales volume by average prices. Forthis purpose, special price indexes were constructed tocorrespond as closely as possible to the products soldby each of the 19 kinds of business shown in table 3.The wholesale price indexes of the Bureau of LaborStatistics were used to represent the movement ofprices of goods sold by wholesalers. (A more detaileddiscussion of the price indexes used is given in the sec-tion of this article describing sources and methods used.)Since these prices are in general closer to the cost ofgoods purchased by wholesalers than to their sellingprices, the assumption is made, in using these indexes,that the wholesale mark-up and other elements of costhave been relatively stable over the period. Specialstudies made by the Bureau of Labor Statistics seemto substantiate the essential validity of this assumption.

About one third of the rise in total dollar wholesalesales from 1940 to 1941 resulted from increased prices.In 1942, however, higher prices accounted for over 90percent of the sales increase from 1941. With theslowing down in the rate of increase of wholesale pricesin recent months, the price influence in sales has beenof secondary importance.

Chart 3.—Wholesalers' Sales, Adjusted for SeasonalVariation *

INDEX, 1935-39 = 100225

'.00

Qu. Qu. Qu. Qu. Qu. Qu Qu.

1939 1940

... 2nd 3rd 4thQu. Qu. Qu. Qu. Qu. Qu. Qu. Qu. Qu. Qu. Qu.

194! i942 19430 0 43-435

i Sales in 1935-39 dollars were adjusted for wholesale-price changes.


The cut in civilian output of goods, including pro-ducers' and consumers7 goods, is suggested by thechanges in the physical quantities of goods sold by


Table 3.—Sales of Wholesalers, by Kind of Business, 1929, 1933, and 1935-43 1


Nondurable goods establishments

Year and month

192919331935193619371938

1939:JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember

Total

1940:JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember

Total

1941:JanuaryFebruaryMarchApril -MayJuneJulyAugustSeptemberOctoberNovemberDecember

66,98430,01042, 80351, 76456, 58650, 483

3,9763,7304,4754,0904,3634,3094,0864,7845,8295,6775,2024,745

55, 266

Total.1942:

JanuaryFebruary-_MarchAprilMayJuneJulyAugustSeptember-OctoberNovember.December. .

Total. _

1943:January...February.MarchAprilMayJune

61, 778

5, 5025,4616,1656,4406,8596, 7357,0787,7798,4698,9217,4647,813

84, 686

7,9657,5338,1408,0647,3937,3717,6497,8238,6469,5248,1788,189

96, 475

7,7427,9408,8338,4708,0238,165

49, 21724, 21632, 79238,48041, 58537, 927

3,0422,7983,3352,9743,1253,0472,9053,4604, 3344,0813,7033,359

40,163

3, 4513, 2553, 4503, 4643, 5553,3103,2463,6874,1914,5703,9543, 719

43,852

3,7843,6684,1154,2484,5074,3644,6835,2305,8376,1635,1345,285

57,018

5, 6845,3275,7765,7115, 2465,2275,5895,7636, 4.997,2976, 2576,220

70,595 2,921

21220,067,515,716,678

108106129132138128121132164160154213

1, 685

12212314314514622593118154173162213

1,817

129136155179205204189180231161186255

2,210

212176201209210225250227271396241303

5,9726,0066,6706,2385,9205,974

262243299280259286

a

"Sis

emic

dus

493272358468595420

393643384043404455555149

533

fur-

d SJS db/'d

S'S

o

2,100965

1,4491,6001, 6451,461

119168227152119838215614512610085

1,562

1261872061411349496183188141116100

1,712

122178223226189140168256246205147123

851 12, 223

847881797776747077909194

971

169220276266208166188246259227179170

2,574

155198304260244243

1,160631816970

1,049833

928485606556586883959698

940

1119689687171727?828399107

1,021

10410913847107111121122120128132147

1,386

146134136116108122131146143148140165

1,635

164165182123127127

771446613710790762

74

8278869511410696107

1,082

10794105999294104106128150111123

1,313

120116125120108110

3,7972,1252,4292,9703,1332,812

234227272222247234216339383365314219

~e

11,7173, 869

1|C3

03 ga

i!

17,4029, 326

o

5,766 111,669',2927,6476,607

475360410369400364366469953923730579

3, 272 6, 398

266256272257254222243368374368345272

3.497

303304348372363370419563554542428358

4,924

480492548554476461515594619669607481

6,496

628628676599567640

615516486525634403446526953

1,015777631

670550590597752668652837

1,3101,5391,1351,059

10, 359

1,218975

1,0271,0571,0201,026936

1,0381,6181,8791,4821,360

14, 636

1,2471,1471,2571,1781,1881,096

12, 55113,45112, 542

1,015952

1,0981,0321,1101, 1321,0621,1211,3451,1321,0941,053

13,146

1,0921,0461,1071,1541,1921,1541,1741.1631,1451,2861,1381,132

133 13. 234 11,64'592 2,159 1,247735 2,974 1,509867995908

2,9743.7084,0183,831

78738578828274891031039992

1, 6281, 726

273

5, 7442, 3663,4074,2034,821

1,755 4,320

295270308299339343340388409419380349

1,038 4,139

91828792969494971011079598

348305349349381425351396412430408

124124143140157163160172164159163179

1,848

139142154153172181169176162173172

405 186

397338464391363354325414455472454366

4,793

421391444463361326393466493651504432

527 13,783 11,134 4, 559 |l, 984 15, 345

1,2251,1151,2641,3551,3921,3861,5031,5001,5281,6081,3491,576

16,801

1,7501,5681,6131,7051,6081,7141,9021,7761,8401,9641,7341,840

21,014

1,8081.8181,8701,9011,8511,974

107116123121131139154166143150

1, 550

161148157140133125117113124134127128

1,607

123123145146139147

349350408432465543524562596623580622

6,054

570523554512509436496524502562599589

,376

483427538461395395

147149164176190186202198193194185222

2,206

173165189200191220224218222244207231

2,484

182190227228226246

550579599571487616705709813671582

7, 371

614754887775614561652706695832738736

8,564

723867956852733608

Durable goods establishments

17,708 |2,2505,794 '

10,01113.28515,00112, 555

934932

1,1401,1161,2381, 2621,1811,3241,4951, 5961,4991,386

15,103

1,2111,1651,2831, 3551,4431,4241,4591,5671, 6031,8011,7381,878

17, 927

1,7181,7932,0502,1922,3522,3712,3952,5492,6322,7582,3302,528

27, 668

2,2812,2062,3642,3532,1472,1442,0602,0602.1472,2271,9211,969

25,880

1,7701,9342,1632,2322,1082,191

2,1632,6092,7852,654

191190218217226230228268288313291247

2,907

252224239249254248262286308332346290

3,290

257263294322339348362382440449394390

4,240

340267225175136123124123130133125129

2,032

114113114131129139

2 423674

1,1091,4831,8771,388

107115134140162168147145154156164188

1, 780

137147158174194194182176168183189254

2,156

195233266296314315317320321311271331

3,490

259302290321292279265263264271248262

3,316

191207238244222217

970350454579632545

54668590101958197113119

1,07!

8510212813511210181

7871

1,159

1099796

391489599681607

674 694

100103110113

1,126

1031011131161021051001001011028584

1,212

839210510497104

2,542 383

154147195195224221201226258269240212

495147285383416318

184179211239256255258275291332292294

272264310365387397405430453472411405

4,571

404398449480430448428421425441387361

5,072

351372422419399421

7,4982,4303, 9535.5886,2774,931

383373454432475504490538600670635569

6,123

527491527538574576617662653743730840

429 7,478

844867977

1,0711,0791,0921,164

76 i 1,11969 I 1,22563 | 1,00468 j 1,146

589 12,576

324349484542455867665658

609

1, 058993

1,1101,0781,0301,0461,0171,0151,0721,116942

1,004

12, 481

8941,0021,1151,1771,1091,154

i Includes service and limited-function wholesalers, manufacturers' sales branches, petroleum bulk stations, agents and brokers, and assemblers; the classification usedhere by kind of business corresponds to that of the Bureau of the Census in the Census of Business, Vol. II. 1939. Detail will not necessarily add to totals because of rounding.

wholesalers in the recent period. The quantity ofgoods sold in 1941 increased 21 percent from 1940, butthe rise from 1941 to 1942 was slightly less than 2 per-cent. Moreover, in the first half of 1943 the total quan-tity of goods sold declined almost 1 percent from the

first half of 1942. It is to be noted that the decliningrate of quantity of sales was due chiefly to sharpdeclines in goods sold by the durable goods establish-ments. Jn contrast, nondurable goods wholesalershave shown larger quantity sales even into the early


Table 4.-—Indexes of Sales of Wholesalers, by Kind of Business, Adjusted for Seasonal Variation, 1939-43 1

[Daily average, 1935-39=100]

Year and month

1939:JanuaryFebruaryMarchAprilM^avJuneJulyAugust _.SeptemberOctoberNovemberDecember .

1940:January .FebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember

1941:January _FebruaryMarchAprilMayJune .July _AugustSeptemberOctoberNovemberDecember

1942:JanuaryFebruaryMarch. __ ._AprilMayJuneJulyAugustSeptemberOctober _ _.NovemberDecember.

1943:JanuaryFebruaryMarchAprilMayJune „

All

who

lesa

lers

101. 399.7

102.5103.8102 6104.2108.6106.5111.2112.4113.5117.2

114.4112.2114.4114.4115.4121.9116.3119.4125.5123.0128.3134.6

134.3142.2147.0151.1164 2168.9172.5182.2179.2176.7178 4180 2

194 3191 4'186.91188 4184.8179.5184 8182 5186 1195.9193 8190.0

195 5199.0191 3;

196 6'196.4199.0

"0

101.099. c

102.0102.3

03

£S

PQ

109.5103.4102.0111.4

100 2 10S 1101.8106. C104.1109.1107.6108.4113.3

110.4109.5111. (111.6111. 5117.9110.8112.8118.9116.0118.8123.0

120.8126. 7130.7135.3148.8152.9157.2164.0162.0161.5163.9167 0

183 2181.0177.9181.5180.7177.6188.4179 8183.8198.6197 0196.6

202 0201.4193 2196 9198.2202.0

94.698.4

108.5113.6114.5116.4130.5

118.0114.6120.4114.5114.1176.771.098.8

118.7119.2125.4127.8

125.4132.2131.0141.2164 1156.7144.6157.3170.0110.6150 0146 6

185 1158.7159.6162 5173 4169. 3190 0187 4207 9287.6195 9198.9

239 0218.81227 9217 2!214.3215.1

3#a

CD

O

100.297.8

105.2103.298 5

109.6112.8114.4128.3129.2116.1123.1

112.4111.8113.8115.3116.9121.8120.2126.0126.4126.6127.3133.9

145.0148.6152.8173.8171 6183.9192.1200.5202.5178.1199 7199 9

210 3210 8206.6198 7204 2193.4198 7191 3189 7209.5218 1223 2

200.0226 0218 1225 7214.0243.4

3§ |5""

O

110.0102.6106.7108.199 ]95.6

100.594.888.0

101.697.896.8

114.2112.8105.494.8

105. 7110.8101. 7114.8127.6108.2116.0116.3

112.8118.7126.0139.5143 8150.3160.8169.2160.2154.9155.1141 6

163 8163.8158.3162 7160.7158.9165.2163 9169.8173.8182 7194.8

169 4164.2164 3163 7178.3209.4

Nondurable goods establishments

8

IOO

101.299.897.898.891 784.9

100."90.3

102.0122.1113.8112.2

117.0109.1108.2104.2101.3114.4115.396.8

113.2102.7120.9121.2

109.4128.7168.672.6

155 4175.3193.9171.6157.5158.1170.0158 8

157 0158.2161.7179 4163.7184.2172 2205 1188 8186.5178 2178.9

184 3195.1208 5189 8192.2191.5

.CD

(_<

03

fciosS

105.8106.8107.0108.4112111.8114.4107.9105.5110.8107.21 1 7 . <

113.3116.0114.6112.8116.8129.8119.0119.9122.3127. c135.3132.8

129.2131 9131.4133.8144.8141.4146.9160.6170.6155.6162.4152 9

167 2165.6169.1165 0169.8163.8177.4179 5191.4225.2183.5175.3

200 1204.2192 3195 4184.0;182.9

0

>>

&

100.7100.4104.8103.5111 5114.1105.0110.0116.0130.9117.2119.0

109.6108.5111.6112.2114.5115.4111.0122.0126.2126.6131.8144.1

124.8134.3142.8162.6167.3187.9191.5194.7178.8186.8171 1181 9

201 9218.0220.3241 7229.4224.71235.2205 5199.5235.4237 1244.1

272 9276.6260 7250 6246.0281.6

"Sis

11

86.285.2

•V)00

99.1101.8

90.01 102.290.286 695.8

111.999.694.487.095.7

109.8

106.8110.6107.8113.0110.6107.2121.6111.0116.096.0

107.3116.9

116.4121.3126.2125.5150 6153.8157.5170.0169.8183. 2183 6186 7

216 3202 0200.1205 5206.1211.0206 6205 6225 7246.6244 3239.0

231 2234.4231 4226 6227.9223.0

102.599 798.8

102.3102.8115.6103.4105.6107.2

102.2104.8107.2107.4110.1111.1106.2106.6109.7112. {111.9112.7

114. 7114.3120.6126.3135.3133.0135.7140.5140.1141.0139.2151 5

167 2158.8150.5158 5163.9161.4171 0163 3169.0175.5176 2174.5

180 4181.0165 9176 8186.4192.3

T3O!H

fCD

C ^PH

106.3106.2110.4111.4105 5108.9107.9111.3118.8123.5125.0129.6

118.6114.1119.4123.6124.'133.6128.0124.1128.8123.]122.7134.9

133.8142.9146.2154.7162.5168.4179.4185.4186.3190.6193.4196 9

214 4215.1213.1186 9182.5166.0160 6150 4152 2157.1168 9168.5

170 5176.6163 9191 1183.0192.3

03 0

Ift-

108.6108.6107.9108.8106 296.2

110.4112.7108.3126.3115.1115.5

119.9114.9123.0118.9120.5131.8108.9117.1124.7124. <126.5129.9

117.7133.2137.8147.4152 1169.3167.6173.2177.5180.6188.2189 4

190 3190.4175.6172 9175.6145.5163 8161 4155 1166.0183 0167 6

163 3153 9157 5152 2139. 2i136.1

x) wC o03 3

]!O

105.4104.9102.1107.6107 6108.4112.6110.5107.1106.4113.1119.6

112.9114.2116.8114.2117.7128.6111.6115.0117.7111.3121.6121.5

119.6125.6124.7127.3133 4129.0132.8134.8134.6124.7137 2139 1

144 0139.1140.9144 4'139 5146.0147 7148 6154 6160.0149 5144 6

158 6159 9162 1165 1158.4|165.5

* B

I8

0

114.098.

109.104.2103 3118.105 4110.1113.3110.9118.1123. ^

123.4110.8111.0117.1101.8116.4118.5125.3135.4143.8134.2138.5

143.0155.3143.2153.1165 9171.0185.4197.4188.0182.6186 9173 5

179 9207 3218.9205 6189 7191.8198 7201 0187 0192.3202 8218.4

231 0225 9209 0228 7226. 6210.2

Durable goods establishments

0

102.100.104.108.0109 *111.115.9113.6117.4126.2128.2128.5

126.0119.9124.^122.6127.3133.5132.3138.3144.7143.2155.7168.]

173 4186.8194 0196.6208 7215 3216.7234.8228 9220.8220 3218 4

226 2221 4213.1208 5196 8185.1185 8190 3192 8188 1184 7170 8

176 6192 1185 7195 9191 3l190.4

©

0

<

107.5110.0109.1112.5108 0107.2108.9112.8108.1116.8109.1114.7

135.8124.4127.3121.4121.3123.1117.2122.6128.6118.8132.3131.8

138.3152.5156 5156.9165 2169 3161.8170.8175.7160.5158.0170 2

155 3130 2100.878 364 855.055 756 160 558.561 257 6

54 354 948 858 5'58 962.21

u

11

104.0100.9101.0106.5112 8115.8119.5116.6118.6126.8135.9135.4

127.2123.2126.7124.3135.0142.4138.8144.8144.0143.1160.1179 2

181.1204 5213.3211.6222 6226 1242.6273.8263.4242.6240 1223 7

245 8264 6228.6229 7216 2191.9202 8225 1216 2216 1214 6176 8l

189 2181 Q179 6174 6157 3149.2

cc.g

llp109.5103.7101.4110.7118 0113.4117.1115.4132.1123.0130.2122.9

111.1113.4115 0122.9125 2129.1129.5131.2117.5132.4127.4138 5

144 3159.3164 9171.8187 5202 0198.0205.0218.5202.9203 2186 2

229 7243 8242.1256 0216 3206.7195 7169 8169 7170 4175 4151 8

219 3203 3203 1190 1188 4200.2

§

w

106.99.7

106.1107.6112 0107.9113.5108.1

125.9123.9127.6

114.6111.0120 2118.3120 3127.2125.8127.6136.2138 6146.3159 6

153 4157.8160 1170 8180 2185 1200.2201.5196 0192.1201 7203 8

238 1237 6224 5216 1196 2191.1181 4196 6180 4175 9170 4171 4

184 4204 1196 5196 8184 3193.9

IfT3 ©Sli s3

106.3105.3110.9113.0118 9116. 3120.2120.2123.9138.0132.1126.3

122 2123.0127.2129.4135.7142.9144.5149.3155.7163.3164.0171.5

179.7188.9187.2197.8210 0218 0226.7243.3231.6232.1241 9227 0

249 3261 7256.8263 3249 2239.5238 8238 7231 0230 3228 2201 4

226 2244 0231 8230 0227 8225.0

ft0

•§!0 3 fcyO

1©

98.2102.1103.3104.5103 2104. 487 297.4

111.0115.3112.8115.2

110.7107.7116.2107.5117.5120.9109.0114.0127.2123.5134.9135 2

155.7143.6146 7156.9161 0171 3158.7175.9181 0173.9187 0153 5

166 5182 5177 3176 7175 9172 0179 2185 0160 8178 2171 6143 8

161 1217 2189 6198 1189 9192.2

ifIII0 © tao

96.093.999.9

104.3104 5110.2118 6112.1117.8127 1135.2135 8

126. 3118.0123 2121.6126 5134.3135.6143.3153.5150 3168.1187 8

192 6206.7219 7219 6234 3241 4240 0262.4252 0247.9242 7246 6

248 5235 9244 4240 5234 5223 2223 7228 7241 9230 8222 9216 3

208 8237 7233 1256 2252 9249.8

1 See note 1 for table 3.

months of this year. Contributing to these increaseswas the fact that wholesalers shifted to new lines wheresupplies were relatively plentiful.

Sales by Kinds of Business

In analyzing wholesale sales by kinds of busioesssome interesting contrasts are apparent. Chart 2shows the range of variation in the change in sales for19 kinds of businesses from the first 6 months of 1942to the first 6 months of this year. With few exceptions,the nondurable goods establishments showed increasesin sales. Largest increases occurred in sales of beer,wines, and liquors, jewelry, dry goods, drugs, tobacco,and foods. In the case of beer, wines, and liquors, the

one-third gain was due to a major extent to the taxincrease. Sales of jawelry and optical goods establish-ments also increased almost one-third with many ofthese goods coming out of irreplaceable stock. Thishigh level of sales is not expected to continue despitethe fact that consumer demand for these products willcontinue strong.

The gains in the other kinds of business also reflectincreasing demands of consumers for the relatively lessscarce goods. Other substantial increases occurred insales of coal dealers and industrial chemical establish-ments. In the former case large orders were placedwith coal and coke wholesalers in anticipation of short-ages resulting from coal strikes. Demands arising


from war needs for industrial chemicals accounted forthe gains in their sales, although in recent months therate of gain declined somewhat.

Increasing shortages of some of the nondurable goodsare reflected in little change or even declines in whole-sale sales. Inability of wholesalers fully to replacestocks of clothing and shoes resulted in little change inthe sales of these products. Increasing shortages ofpaper and its products are shown in the rapid declinein sales in recent months—with sales in the first half ofthis year almost 5 percent below the first 6 months oflast year. The reduction of 13 percent in wholesalesales of petroleum and products is the result of trans-portation difficulties and rationing of these products.

In contrast to the general rise in sales of nondurablegoods establishments, most businesses selling primarilydurables showed declines since the early part of 1942.Sharpest cuts occurred in wholesale sales of automotiveproducts. Since the rationing of automobiles, most ofthe sales of these establishments have been of used cars&nd automotive parts and accessories. Sales of elec-trical goods, and furniture and housefurnishings alsodeclined sharply, as output of the consumer goods soldby these wholesalers was drastically curtailed or com-pletely stopped.

Table 5.—Comparative Changes in Sales of Wholesale Estab-lishments and Sales of Retail Stores for Specified Kindsof Business

Kind of business

/e welryFarm supplies....Dry goods.__Drugs and sundriesFood -Apparel, excluding shoes..-ShoesHardwareLumber and building materials..Furniture and housefurnishings.Petroleum and its products -

Percent change first half1942 to first half 1943

Wholesaleestablish-

mentsRetailstores

31.630.824.118.312.78.5

-3.9-8 .5-8 .6

-12.7-13.0

42.328.631.725.410.428.915.9

- 4 . 3

L2-19.9

Although sales of building materials and hardwareestablishments increased in 1942 as the result of thepeak level of building activity in that year, the curtail-ment of construction activity both on government andprivate account has been reflected in the 9 percentdecline in the wholesale sales of these products in thefirst six months of this year from the first half of 1942.

Wholesale sales of the machinery and metal establish-ments amounted to 12.5 billion dollars in 1942, almostequal to 1941. Most of these products were for indus-trial use, either for direct war work or for use in the con-version process. Curtailment of private expendituresfor plant and equipment, however, and the tendency tobypass wholesalers in the purchase of industrial equip-ment and supplies, have cut into the sales of theseproducts in recent months.

Of considerable interest in the analysis of sales bykinds of business is a comparison of recent changes insales of wholesale and retail outlets carrying similartypes of goods. The changes in sales in the first 6months of this year from the first half of 1942 are shownin table 5 for 11 kinds of business. In several casesthe changes in the corresponding type of outlet are in

Chart 4.—Percentage Change in Wholesalers' Sales, First Halfof 1943 From First Half of 1942, by Kind of Business

-60PERCENT

0 +40 +60

BEER, WINES AND LIQUORSI

JEWELRY AND OPTICAL GOODSI

FARM SUPPLIES

DRUGS AND SUNDRIESI

COAL AND COKEI

TOBACCO AND ITS PRODUCTS

LEATHER AND FINDINGSI

FOOD OTHER THAN GROCERYI

FARM PRODUCTS-RAW MATERIALS

GROCERY

CHEMICALS (INDUSTRIAL)

CLOTHING AND FURNISHINGSi

MISCELLANEOUS!

Y, EQUIPMENT, AND SUPPLIES

SHOES

PAPER AND ITS PRODUCTS

HARDWAREI I

LUMBER AND BUILDING MATERIALSI I

FURNITURE AND HOUSEFURNISHINGSI !

PETROLEUM AND ITS PRODUCTS

ELECTRICAL GOODS

AUTOMOTIVEDO. 43-434


close agreement. In most lines of trade, however,retail sales have shown either larger increases or smallerdeclines than wholesale sales. Part of this is due tothe lack of exact correspondence between the goods soldin a particular business by the two outlets. But theprincipal reason for this tendency is that retailers hadbuilt up their inventories to a greater extent than whole-salers and were thus able to make greater sales by draw-ing on stocks. This was particularly true of jewelry,apparel, hardware, and furniture stores.

Wholesalers' Inventories at Low Levels

In view of growing scarcities of goods, wholesalersalso depleted their stocks to maintain the recent highsales volume. Since the beginning of 1942 the heavydemands made by their customers and the inability toreplace many scarce goods forced wholesalers to liqui-date one-fifth of their aggregate inventories. Duringthe second quarter of this year the average value ofinventories held by wholesalers w as almost at the samelevel as in the first 3 months of 1941, despite the factthat sales were 40 percent greater (seasonally adjusted)


over the same period. Some wholesale houses delib-erately planned a curtailment of their inventory hold-ings in recent months in accordance with War Produc-tion Board Wholesale and Retail Inventory LimitationOrder L-219. Although this had little effect on totalinventory liquidation, it affected a more even distribu-tion of existing supplies.

As of the end of June 1943, the book value of inven-tories held by wholesalers amounted to less than 4 bil-lion dollars. This is only one-seventh greater than thevalue of inventories held in June 1939, prior to theoutbreak of war. When it is considered that whole-sale prices of commodities handled by wholesalers rose42 percent from June 1939 to June of this year, it isclear that the present physical holdings are much lowerthan in 1939. Yet this lower volume is used to supporta sales volume which was over 85 percent higher indollar total, or about 40 percent greater in physicalquantity. This, of course, implies a much more rapidinventory turn-over, but it is evident that from now onlittle can be done to make more goods available tocustomers by drawing down the average inventory

Chart 5.—Relationship Between Inventories and Sales ofWholesalers, Adjusted for Seasonal Variation

5.0

4.5

1940

1939

19

4J

31

\

19

r*/942

V43

3.012 16 20 24 28

SALES, TOTAL FOR QUARTER (BILLIONS OF DOLLARS)DO. 43-4IB

Source: U .S . Department of Commerce.

level. Wholesalers must carry a minimum amount ofstock in order to achieve any degree of efficiency indoing business. Although this minimum point cannotbe determined specifically, the fact that wholesale inven-tories have shown little or no change in the 6 monthsending June of this year suggests that the present levelis near the minimum point.

It follows from the foregoing analysis that to maintaintheir current sales volume in the coming months,wholesalers must depend almost entirely on the avail-ability of new supplies of goods. Since the bulk ofgoods sold by wholesalers is for civilian use, the volume

of new supplies of these goods will ultimately depend onthe available manpower. Already labor shortages arebeing felt in certain areas and in certain industries.As more men are drawn into the armed forces and intoour war industries, the civilian segment of our economywill feel increasingly the pinch of lack of manpower.Thus, wholesalers will find it increasingly difficult inthe coming months not only to get new supplies butalso to maintain their organizations and the serviceswhich they have been rendering.

Methods and Sources of DataThe monthly estimates of sales of wholesalers were based on sales data for 25 types

of wholesale business; 9 types selling primarily durable commodities and 10 sellingprimarily nondurable commodities (Sec table 6). The 1939 Census of Business wasused as a basis for both definitions and the 1939 sales levels. The estimates for 1929,1933, and 1935 are based on the Census of Business for those years, with minor adjust-ments for comparability with the 1939 data. The estimates both for the total and theseveral kinds of business include the following types of wholesalers: Service andlimited-function, manufacturers' sales branches (both with and without stocks),agents and brokers, and assemblers. According to the definition of the Bureau of theCensus, a business is classified as a wholesale unit when the major portion of itssales are for resale or productive purposes.

It should also be noted that these estimates do not represent sales by commodities,but rather the sales of wholesalers classified under the commodity which accounts fortheir major source of income. This distinction probably takes on more importancein the current period when shortages of some commodities encourage shifts to newlines of merchandise.

Size and Kind of Sample.All of the series, with the exception of "farm products—raw materials," for the

noncensus years and for the months from 1939-43 were based on monthly sales re-ported by 36 types of wholesalers to the Current Statistical Service of the Bureau ofthe Census. This sample consists of approximately 2,800 wholesalers with salestotaling around 3 to 4 billion dollars per year. The sample represented 5.0 percentof the 1939 census volume of sales (excluding "farm products—raw materials") and5.4 percent of the estimated 1942 sales. By types of business the size of the sampleranged from 1 to 45 percent. The cooperating wholesalers report their sales for thecurrent month, the preceding month and the same month last year. The reportedsales are then translated into month-to-month and year-to-year percentage changes.

The inherent defect in this type of "identical" sample is that it measures the changesonly in establishments which are in business in successive periods. The fact tbatit in no way corrects itself for the rate of "birth and mortality" among establishmentsin the wholesale field, seriously affects the representativeness of the sample. The1939 Census of Business showed an increase of 17 percent above 1935 in the wholesalepopulation. The effect of the increase in the number of establishments was notreflected in the census sample. In fact, for the period 1935-39 the sample showed adownward bias in sales in each series when compared with the census changes, theaverage discrepancy for all the series amounting to 12 percent. Table 6 summarizesthe amount of bias involved in each series. The fact that the bias was less than thatindicated by the change in the number of establishments probably resulted from therelatively better position of the older and more established firms.

Construction of Series.For each of these 25 types of business, estimates of aggregate dollar sales and daily

average indexes both unadjusted and adjusted for seasonal variations were derived—annually for the periods 1929, 1933. and 1935-42, and monthly from January 1939to date. In the case of almost the entire series, data were available monthly from1935. These data were used in deriving seasonal adjustment indexes and in the de-termination of the amount of correction necessary to adjust to both the 1935 and 1939Census of Business levels.

The utilization of the data of the Bureau of the Census in deriving these serieswas, briefly, as follows: An index (1939=100) was built up from 1935 to date by usingboth the month-to-month and year-to-year percentage changes for each of 25 groups.These indexes were then applied to the monthly average dollar sales of these groupsfor 1939 as reported in the Census of Business for that year. The 1935 sales as shownin the resulting series were then compared with the sales reported by the Census of1935 in order to determine the bias. The series was corrected and adjusted to boththe 1935 and 1939 censuses by a "straight line" method.

Briefly, this method of developing correction factors for each series was to centerthe entire amount of bias between June and July of 1935, and then to decrease it, byequal monthly amounts, reaching a correction of 0 in the middle of 1939, since theseries had originally been adjusted to the level of that year. These factors wereapplied to the dollar values—the result being a series corrected to both the 1935 andthe 1939 Census of Business levels. This adjustment was carried forward throughthe middle of 1942, when it was discontinued because there was evidence pointingto the fact that the wholesale business mortalities exceed the new entrants into thefield in the current period. Thus in 1943 it is assumed that the sample adequatelyreflects the changes in sales.

Since the sample was not always available for each type of business as far back


as 1935, it was occasionally necessary to use other means of interpolating some of theinter-censal years. Sales of retail stores were used in estimating the volume of salesin 1936 for the beer, wines, and liquors, and the coal and coke establishments. TheCensus Survey of Business, 1937-38 was utilized in determining the 1936 sales ofwholesalers of farm supplies. Sales of industrial chemicals for the years 1936, 1937,and 1938 were based on the Federal Reserve Board's index of chemicals productionand the Bureau of Labor Statistics' wholesale prices of chemicals. In each of theseries for which the sample data were available in 1935, a downward bias was dis-covered. Therefore, it seemed reasonable to believe that a similar bias was presentin all the above named series for which no sample data were available for 1935. Eachof these series wTas corrected by using an assumed 12 percent bias, the average for allthe groups.

Since the current reports of the Bureau of the Census do not include wholesalersof agricultural raw materials (consisting of cotton, livestock, grain, tobacco leaf,raw silk, etc.), data published by the Department of Agriculture were used to inter-polate the monthly dollar values. Cotton sales were derived by correlation withthe physical volume of "sales at 10 markets" multiplied by the average price ofmiddling (i-Heths of an inch) cotton. Estimates of livestock sales were interpolatedby using the total values to the packer of federally-inspected livestock, beforeslaughter, and the value of farmers' purchases of livestock. Annual estimates of thelatter item w ere made by the Department of Agriculture and were interpolatedmonthly by using the series on "stockers' and feeders' shipments to public stockyards"multiplied by an average price for live cattle. The total sales of the raw materialsgroup were based on a sample consisting of the derived monthly sales of cotton andlivestock (about 50 percent of the group).

In the automotive supply series, the estimates through the middle of 1942 includesales of new motor vehicles which had been dropping sharply since the beginning ofthat year. Due to the curtailment of automobile production and the resultant highdemand and low supply, these wholesalers, for the most part, began to sell theirstocks in the retail field, and, by definition, ceased to be wholesalers. Thus the seriesin recent months includes only sales of parts and accessories and used cars.

The dollar estimates for the 19 types of wholesale business obtained by the methodjust described were combined into total, nondurable goods, and durable goods esta-blishments groups. The basis of classification by durability was whether the princi-pal product sold was of a durable or nondurable character, i. e., if it takes 3 or moreyears before being finally consumed, it is classified as a durable product, and lessthan 3 years, a nondurable product. The miscellaneous group was classified withthe nondurables. It consists mainly of farm supplies, leather and findings, books,newspapers, and periodicals, and general merchandise.

Seasonal Adjustment.The dollar series wTere adjusted for number of working days and for seasonal varia-

tions. Very little information is available on the actual number of working daysby kind of business. Hence the adjustment for number of working days has beenmade on an arbitrary basis. A standard hVi day work-week was assumed for eachkind of business. Also, the following holidays were not counted as working days:New Year's Day, Memorial Day, July 4, Labor Day, Thanksgiving Day, and Christ-mas Day. Each of the series was then adjusted to allow for the number of workingdays and converted to an index with 1935-39 average as a base.

In general, the daily average indexes for each kind of business w ere adjusted forseasonal variations by the ''ratio to the moving average" method. In most casesthe seasonal factors wrere determined by the use of monthly data covering the period1935-43. In a few of the individual series, significant shifts in the seasonal movementwere noted, especially during the war period. Where data were available for a suffi-ciently long period, shifting seasonal index numbers were derived and used. On thesale of farm supplies series, the wide range of the seasonal swing necessitated usingthe absolute differences from the moving average instead of the ratios. The samemethod was used in determining seasonal factors for the "farm products—raw ma-terials" group.

The separate indexes were combined into total, nondurable goods, and durablegoods establishments groups by weighting according to the relative proportion of thesales for each group to total sales in the base period 1935-39. The relative weightsused for the kinds of business are shown in table 6.

Prices of Goods Sold by Wholesalers.In the analysis of the changes in the quantity of goods sold by wholesalers, the effect

of price changes was removed from the dollar sales estimates. For this purpose, aspecial price index applicable to goods sold by wholesalers was constructed by kind ofbusiness. The basic price series were based mainly on the Bureau of Labor Statistics'data on wholesale prices. However, since that Bureau's price data are based on com-modities while the wholesalers' sales are based on type of business, it was necessaryto regroup some of the commodity prices and reweight them according to their relativesize in the Census of Business classifications.

Also included were wholesale price series for jewelry, wines, beer, liquors, and farmsupplies w^hich were not available from the Bureau of Labor Statistics. The source

of the farm supplies series was "prices paid by farmers" for selected commodities, aseries released monthly by the Department of Agriculture. The beer, wines, andliquors prices were based on prices in nine "monopoly" states. The jewelry serieswras based on studies by the National Income Unit of the Bureau of Foreign andDomestic Commerce.*

The separate price indexes by kind of business were combined into a total by-weighting according to the relative importance of the kinds of business in the period1935-39. There was, however, no appreciable difference between the Bureau ofLabor Statistics' wholesale price index of all commodities and the derived series.The largest discrepancy for any one year was 1^ percent.

Table 6.—Relative Importance of Wholesale Business Groupsand the Percentage Errors of Samples Used in EstimatingWholesale Sales

Kind of business

1935-39annualaverage

sales (mil-lions ofdollars)

Percenterror ofsamplefrom

census, 1935comparedwith 1939 i

Weightin total

index(percent)

13,1912,6232,7322,118

6142,1041,527

577357

5,3742,9532,421

38,1891,5431, 275

2681,532

475921736

2,9236,742

12, 6728,4644,

9093,7341,4,308

525230

3,553

Durable goodsAutomotiveBuilding materials and hardware

Lumber and building materialsHardware

Housefurnishings and electrical goodsElectrical gpods 3

House furnishingsJewelry and optical goods.Machinery and metals

Machinery, equipment and suppliesMetals, excluding scrap

Nondurable goodsClothing and furnishings

ClothingShoes

Beer, wines, and liquorsChemicals (industrial)Coal and cokeDrugs and sundries.Dry goodsFarm products, raw materialsFood

GroceriesOther

Paper and its productsPetroleum and its productsTobacco and its products.Other wholesalers.

Farm suppliesLeather and findingsMiscellaneous "

1 Using 1939 as 100, the percentage change 1935 compared with 1939 was computedfor the sample and census total; the percentage error was then determined from theratio of the sample change to the census change.

2 Includes paints and varnishes.3 Includes household appliances, wire and wiring supplies, electrical merchandise,

equipment, supplies, etc.4 Sample not available in 1935.5 Includes cotton, grain, livestock, horses and mules, hides and skins, wool and

mohair, tobacco leaf, etc.6 Farm products, or consumer goods: Fresh fruits and vegetables and dairy and

poultry products.7 Includes feed, seed, fertilizer, etc.8 Consists mainly of newspapers, books and periodicals, chemicals other than

industrial, general merchandise, etc.

Need for Series.It is believed that these estimates of wholesalers' sales give a reasonably accurate

representation of the actual movement of sales over the period covered. However,the relatively large bias and the smallness of the sample in some of the series indicatethe necessity of a great deal of further study and the uses of other sources of data forthe derivation of more reliable series. More intensive work is now being under-taken in this direction and it is hoped that more refined series will be available uponcompletion of this work.

The advent of the war and the realization of the importance of a sound civilianeconomy in the furtherance of the war effort have caused an ever-growing demandfor statistics on the wholesale field. This is because such data are so indispensablein any study and planning of civilian requirements. Thus, it is felt that the urgentneed for some measurements of this large and important segment of our economyjustifies the immediate release of this series.

4 See "Price Deflators for Consumer Commodities and Capital Equipment, 1929-42," by Henry Shavell, Survey of Current Business, May 1943, pp. 13-21.


Incomes in Selected ProfessionsPart 2, Legal Service

By Edward F. Denison, National Income Unit, Bureau of Foreign and Domestic Commerce

Editor's Note.—This is the second of a series of articlespresenting the results of questionnaire surveys of in-comes in selected professions. Data for veterinarianswere published in the July 1943 Survey of CurrentBusiness. Data for dentists, physicians, and privateduty nurses will be published at an early date.

THE total gross income of the legal service profes-sion in the United States reached an estimated

927 million dollars in 1941, 6.4 percent above 1940 and9.6 percent above 1931, the pre-1940 peak year. Totalnet income also reached a new high in 1941 at 615millions.1

The large increase in the number of lawyers from1929 to 1941 prevented average earnings from pursuinga similar course. For independent practitioners theaverage gross and net income in 1941 were well belowthe 1929-31 levels, though above the intervening years.Estimates of the total and average gross and net incomeof independent practitioners from 1929 to 1941 areshown in table 1.

Table 1.—Estimated Number and IncomeIndependent Practice, 1929-41

Year

19291930.193119321933_ _ .19341935.. _ .19361937

Numberin inde-pendentpractice(thou-sands)

104108113114116116119120122

1938 i 12419391940-1941

126128128

Total income(millions of dollars)

Gross

830819846717688740704790828809839871927

Net

571557574470447488506525549531553575615

of Lawyers in

Average income(dollars)

Gross

7,9977,5947,463C. 2975,9236, 3626, 4246,5816,7266, 4706,6156,7477, 172

Net

5,5345,1945,0904,1563,8684,2184,2724,3944,4834 2734,3914, 4854,794

NOTE.—Trie number in independent practice includes all lawyers deriving morethan one-half of their total net income from independent practice. The total incomefigures include gross and net income from independent practice both for lawyersearning all their professional income from independent practice and for part-salariedlawyers. The average income series represent the average income of lawyers earningtheir entire professional income from independent practice.

Failure of incomes to regain their predepressionlevel caused average net earnings of independentlawyers to drop from first place among the three majorindependent professions to a position below physiciansbut still substantially above dentists.The 1942 Survey.

The fourth Bureau of Foreign and Domestic Com-merce survey of economic conditions in the legal pro-fession was conducted in the early summer of 1942.As in the past, the American Bar Association furnished

i Reliable data for 1942 are not available, but there are indications that 1942 incomesdropped substantially below the 1941 level.

advice and cooperation. Questionnaires were mailedto a representative sample of 20,000 lawyers, who wereasked to give information relating to gross and netincome, costs, employment, pay rolls, and other itemsfor the years 1936, 1937, 1939, and 1941.

The total number of employed lawyers and judgesin the United States in 1940 is given by the 1940 Cen-sus of Population as 177,643. On the basis of dataderived from the same source it is estimated that of

Chart 1.—Gross Income of Lawyers in Independent Practice

THOUSANDS OF DOLLARSMILLIONS OF DOLLARSI2OOI

1000

800

600

400

TOTAL GROSS INCOME(LEFT SCALE)

AVERAGE GROSS INCOME(RIGHT SCALE)

12

1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941D. D. 43 -439


this number, 128,093 were primarily engaged in inde-pendent practice, 20,247 were employed by these inde-pendent practitioners, and 29,303 (including, of course,all the judges), were employed by nonlegal firms orgovernment units. With the exception of the figurefor independent practitioners, however, these data areinflated by the inclusion of law clerks who had not yetpassed the bar examination and who were not consid-ered to be lawyers in the present survey. This factorespecially affects the figure for lawyers employed byother lawyers.

The questionnaire survey was confined to independ-ent practitioners and the lawyers they employed, whotogether represent lawyers employed in the legalservice industry. However, all part-salaried lawyerswere eligible for inclusion in the survey, regardless ofthe source of their salaried income. The sample ofreturns which w as used to obtain net income in 1941consisted of 2,099 nonsalaried lawyers (those derivingtheir entire professional income from independentpractice), 307 part-salaried lawyers (those engagedboth in independent practice and in salaried work),2

and 231 all-salaried lawyers. It is estimated that thereturn for 1941 represents 17 percent of the eligible

2175 of the part-salaried lawyers received a net income from independent practicein excess of their total net income from salary.


lawyers who received questionnaires, though slightlyless than 2 percent of the total number of lawyers inthe legal service industry. In the calculation of the 17percent, schedules received by lawyers ineligible forthe survey and schedules returned by the Post Officeas undeliverable were excluded.

Members of partnerships were treated in the surveyas independent practitioners, whereas so-called uasso-ciates" who receive a percentage of the gross incomefrom cases they originate or handle, but assume noresponsibility for the firm's expenses, were definedas salaried employees.

Special care was taken to obtain a proper distribu-tion of returns as between members of partnershipsand lawyers practicing alone. Schedules were mailedto a representative sample taken from a completelist of lawyers (not law firms). Members of partner-ships were asked to give both their own and the firm'snet income, and to give gross income, pay roll, and otheritems for the firm as a whole. In the editing processthe lawyer responding was then assigned the same per-centage of the firm's gross income, payroll, etc., as hispersonal share of the net income was of the firm's netincome.

Income of Lawyers in 1941.

Table 2 shows the average and median 1941 netincomes of lawyers in the legal service industry togetherwith a percentage distribution of the returns by netincome classes. Examination of the distribution indi-cates that incomes in the profession are very unequally

Table 2.—Average and Median Net Income and PercentageDistribution of Lawyers by Net Income Classes, 1941

Item

Number reporting. . . .Average net income. _Median net income

Net income class:Loss: $l-$2,999

$0-$499$500-$999$l,000-$l,499$l,500-$l,999._. .$2,000-$2,499__._$2,500-$2,999$3,000-$3,499_._ . . .$3,500-$3,099

$4,000-$4,999 _$5,00O-$5,999$6,000-16,999 _ . . .$7,000-$7,999$8,000-$8,999__._$9,000-$9,999_.._. . . . .

$10,000-$14,999__.$15,000-$19,999$20,000-$24,999

$25,000-$ 19,000$50,000-$74,999 . . „. .

$75,000-$150,000

All report-ing lawyersin the legal

serviceindustry

2,637$4, 832$3, 230

Lawyers classified byincome

Non-salaried

2,099$4, 794$2, 960

Part-salaried

307$5. 204$4; 210

type of

All-salaried

231$4, 683$3, 938

Percentage distribution by net income classes 1

0.4

3.55.87.69.79.99.77.56.5

10.27.15.53.52.61.4

5.01.9.9

.9

.2

2

0.5

4 27.18.3

10.510.69.77.05.9

8.36.64.83.42.51.2

5.02.01.0

1.0.3

.2

0.71.36.26.87.89.47.56.8

15.610.19.14.23.91.6

5.51.6.7

1.0

0.9.4

3.06.56.59.5

12.612.1

19.97.47.43.01.73.0

4.8.4.0

.9

1 Totals will not necessarily equal 100.0 percent because of rounding.

distributed. As a result the average (arithmetic mean)income is not representative of the distribution. Forall lawyers in the legal service industry, the averagenet income in 1941, was found to be $4,832, while themedian was S3,230.3 More than one-fourth of thelawyers reported net incomes below $2,000.

Among the nonsalaried lawyers, who represent aboutfour-fifths of the total sample, only 29.4 percent receivedan income as high as the average of $4,794. Themedian net income of $2,960 furnishes a much betterguide to the earnings of the ordinaiy nonsalaried lawyer.In the following tables median incomes, as well asaverages, have been shown wherever they areappropriate.

Table 3.—Average and Median Net Income of Lawyers bySize of City, 1941

Population of city(thousands)

Under 11, under 2.5. . .2.5, under 5 . . .5, under 10__.10, under 25_ _25, under 50. _50, under 100.100, under 250250, under 500500 and over. -Unknown

T o t a l -

All reporting lawyers in thelegal service industry 1

Numberreport-

ing

8216218318728618019123327781640

2,637

Averagenet

income

$2,5372,9293,2533,6624,1044,3435,0804, 6345,3816,2125,344

4,832

netincome

$2,0002,4832,6932,9903,1883,4673,6463,5363,5363,6742,400

3,230

Nonsalaried lawyers

Numberj Averagereport-

ing

I

7013816014124114515917523360829

2,099

netincome

$2, 4862,8512,9593,6973,9524,3725,0714,4875,4426,387

Mediannet

income

4,794

$1,9002,4202,5002,9402,8653, 3753,7253,2053,4503,071

2,960

* Includes returns from part-salaried and all-salaried lawyers for w^hom separatedata on average and median net income wTere computed by size of city only as follows(separate figures were not computed for size-of-city groups for which there were lessthan 30 returns):

Populationof city

(thousands)

5, under 1010, under 25100, under 250-.-500 and over -

TotaL_ _.

Part-salaried lawyers

Num-ber

report-ing

43403675

307

Aver-agenet

income

$3, 5645, 0635,0906,993

5,204

Me-diannet

income

$3,1884,3334,0005,917

4,210

Populationof city

(thousands)

500 and over

Total

All-salaried lawyers

Num-ber

report-ing

133

231

Aver-agenet

income

$4, 974

4,683

Me-diannet

income

$4, 338

3,938

The median income of all-salaried lawyers in 1941was well above that for the nonsalaried, while theaverage was slightly lower. In any comparison ofincomes of the two groups the following considerationsmust be given emphasis: (1) Law clerks wTho had notbeen admitted to the bar were excluded from the sur-vey, while associates were included among the salariedlawyers. The effect of a change in the treatment ofeither group would be to lower the figures for all-sal-aried lawyers. (2) The overwhelming majority of theall-salaried lawyers are employed in large cities. Thisis untrue of the independent practitioners. (3) In

3 The median income, it will be recalled, is that which, when all the incomes havebeen arrayed in order of magnitude from smallest to largest, exceeds the incomes ofthe lawyers in the lower half of the sample, and is in turn exceeded by the incomes ofthe lawyers in the upper half of the sample.

August 1943 SUEVEY OF CUERENT BUSINESS 25

contrast to the nonsalaried lawyers, the all-salariedgroup contains very few old persons, whose earningstend to be exceptionally low.4

The highest typical incomes, measured by either theaverage or the median, were reported by the part-salaried lawyers. The part-salaried group, wilichreceives income from two sources, has also reported thehighest income in every other survey of professionalincomes which the Bureau has conducted.

The size of the city in which the lawyer practices hasan important influence upon earnings. For the non-salaried group, median earnings rise from $1,900 inplaces of less than 1,000 population to $3,725 in citiesof 50,000 to 100,000 (table 3). The irregular fluctua-tion of median earnings between this group and the250,000 to 500,000 population group may reflect asampling fluctuation. The decline which occurs forcities over 500,000 has also been observed in severalother professions. The extraordinarily high incomesreported by a small fraction of the lawyers in thelargest cities prevent the average from exhibiting thesame decline. The incomes of all-salaried and part-salaried lawyers are somewhat less affected by city-sizevariations than those of lawyers solely engaged inindependent practice.

The importance of New York City as the largestcenter for law practice warrants separate presentationof data for its lawyers. In table 4 earnings in NewYork City are compared with those in other cities over500,000 population and in the country as a whole.

Table 4.—Average and Median Net Income of New York CityLawyers and Other Selected Groups of Lawyers, 1941

Item

Nonsalaried lawyers:Number reporting..Average net incomeMedian net income-

All-salaried lawyers:Number reporting _.Average net incomeMedian net income -

NewYorkCity

Other citiesover 500,000population

214$5,866$2, 792

50$5, 845$4,700

394$6, 678$3, 288

83$4,449$4,188

UnitedStates

2,099$4, 794

231$4,683$3,938

The median income of nonsalaried lawyers in NewYork City was $496 lower than the median in theother large cities, an$ the average income was $812lower. The New York City median fell below eventhe national median. The position of all-salaried NewYork City lawyers in the legal service industry wasrelatively favorable. The average and median bothindicate substantially higher earnings than werereceived by all-salaried lawyers in other large citiesor in the country at large.

Average and median earnings of all lawyers in thelegal service industry and of nonsalaried lawyersseparately are shown by region and by state in table 5.The highest incomes were reported by lawyers in the

* The high level of average earnings for all-salaried lawyers may appear surprising.However, data published by the Social Security Board and the Bureau of the Censustend to support this level when the proper adjustments are made for differences inscope.

539303—43 4

Far West. The Middle East, Central States, NewEngland, Southeast, Northwest, and Southwest followedin that order. The ranking of the regions is the samewhether one utilizes the median or the average, todwhether one considers all lawyers in the legal serviceindustry or only the nonsalaried group of lawyers.5

Table 5.—-Average and Median Net Income of Lawyers byRegions and for Selected States, 1941

Region and State l

New EnglandMassachusetts

Middle EastNew Jersey ._New YorkPennsylvania . __^Vest Virginia

SoutheastAlabamaArkansasFlorida _._ _.GeorgiaKpntuckvMississippiNorth CarolinaVirginia _._

Southwest -_OklahomaTexas _

Central StatesIllinoisIndiana _.IowaMichigan ._MinnesotaMissouri . .OhioWisconsin. __ __

NorthwestNebraska

Far WestCalifornia

State unknown

United States


Numberreport-

ing

180107

73973

44414837

4273037556036315643

18630

143

8262589255833645

19661

12030

12687

33

2,637

Averagenet

income

$4,2793,902

5, 5914,6275,3925,030

4,1244, 3673,1623,9054,7133 6043,9683,6033,890

3, 6853,3923,659

4,8365,6693,6853,2916,1173,2924,3614,4495,205

3,6272,900

6,0716,733

6,015

4,832

Mediannet

income

$3,0712,969

3,5053,1883,3703,8442, 950

3,0563,5002,4383,4172, 2782,5003,1252,8573,469

2, 7372,7002, 625

3,1983,5422,9382,6253,4722,8573,0633, 0453,813

2, 8853,083

4,0004,375

2,450

3, 230

Nonsalaried lawyers

Numberreport-

ing

14890

56464

33510829

3502334384828264739

14921

117

6641997651633038

15453

9521

10469

25

2,099

Averagenet

income

$4,1913,888

5,4784,5085, 2134,652

4,023

3,1993,9214,609

3,4683,724

3,557

3,588

4,9695,9763,6913,2656,8613,3674,4214,3385,547

3,647

5,8466,453

4,794

Mediannet

income

$2,9002,667

3,1463,1822,8623,654

2,875

2, 3752,7502,214

2,8253,344

2,54.7

2,425

2,9583,0752,8002,4503,4642,8333,0002, 7254,050

2,750

3,6004,042

2,960

1 No data based on less than 30 returns are shown. The geographic regions usedin this table are those described in the June 1943 Survey of Current Business, p. 10.In addition to the States shown in the table, the regions include the following States:New England—Connecticut, Maine, New Hampshire, Rhode Island, Vermont;Middle East—Delaware, District of Columbia, Maryland; Southeast—Louisiana,South Carolina, Tennessee; Southwest—Arizona, New Mexico; Central States—None; Northwest—Colorado, Idaho, Kansas, Montana, North Dakota, SouthDakota, Utah, Wyoming; Far West—Nevada, Oregon, Washington.

2 Includes returns from part-salaried and all-salaried lawyers for whom separatedata on average and median net income were computed separately by region only asfollows (separate figures were not computed for regions for which there were less than30 returns):

Region

Middle EastSoutheastCentral States___

United States..


Num-ber

report-ing

945882

307

Aver-age

net in-come

$6, 3644,8974, 588

5,204

Me-dian

net in-come

$5, 5004,0003, 929

4,210

Region

Middle East---.Central States,..

United States.


Num-ber

report-ing

Aver-age

not in-come

Me-dian

net in-come

$5, 478 $4, 4583, 984 3, 714

231 I 4,683 ! 3,938

3 The average income of $6,568 obtained for West Virginia was strongly influencedby three large returns and, in view of the low median, is not considered reliable.

Variations among states within the same regionappear to be as important as variations among regions.In the Central States, for example, much higher in~

5 Except that the average income for all lawyers is slightly higher in the Southwestthan in the Northwest.


comes were reported by Illinois, Michigan, and Wis-consin lawyers than by those practicing in the otherfive states. Special factors leading to exceptionallyhigh average incomes for independent practitionersin the District of Columbia and Delaware cause theaverage for the Middle East to rise above that forNew York, New Jersey, and Pennsylvania, its mostpopulous states.

The position of the Southeast in the regional rank-ings, only slightly below New England, is of interestinasmuch as it reflects an improvement in the relativeposition of Southeastern lawyers from 1939 to 1941.This can be seen in the following table:

Percentage increase in netincome from 1939 to 1941

All lawyers in the legal service industry: ^ s t Ustatel

Average income 11.5 9.4

Median income 19. 5 11.3

Nonsalaried lawyers:

Average income 11.8 9. 2

Median income 11.9 9. 5

It may be noted that per capita income paymentsalso rose more rapidly in the Southeast than in thecountry as a whole from 1939 to 1941. The median1941 income (though not the average) for all lawyersreporting was higher in three States of this region-Alabama, Florida, and Virginia—than in the countryas a wrhole.

Table 6.—Average and Median Net Income of Lawyers byAge Classes, 1941

Age class

24 and under _25-29 .30-3435-3940-44 . _45-4950-5455-5960-6465 and overUnknown __

Total


Numberreporting

292

359478347260290211201256141

Averagenet in-come

$2, 4953, 3064,5095.2876,3875,9346,0184,8153,9414,982

Mediannet in-come

$2, 3212, 7503,5413, 8204,0754,0603,6562,7382,0433, 212

2,637 4,832 3,230

Nonsalaried lawyers

Numberreporting

152

233376287207246190172225110

Averagenet in-come

$2, 0773, 1464, 3635,0976,5276, 0385, 8594, 7153, 5765, 000

2, 099 4, 794

Mediannet in-come

$1,9172,4443,3093,5093, 7294, 0003, 2692,4781,9502,944

2,960

* Includes returns from part-salaried and all-salaried lawyers for whom separatedata on average and median net income were computed only as follows (separatefigures were not computed for age classes including less than 30 returns):

Age class


Num- *Aver-berre-| ageport- net in-ing come

30-34.35-39.40-44,45-49.50-54_

59 !$3, 55564 i 4,8633

Total..

6,7716,2586,113

Me-dian

net in-come

Age class


| Num-j ber re-! port-i ing

Aver-age

net in-come

Me-dian

net in-come

307 | 5,204

$2, 8544,1675,7505,2504,625

4,210

30-3435-39.

Total

6738

231

;$3,6465,362

4,683

$3, 4754,500

Age exercises an important influence upon the earn-ings of lawyers. Table 6 shows that the median 1941net income for all lawyers in the legal service industry

rose steadily from $2,321 for lawyers 25 to 29 yearsold to a peak of $4,075 in the 45-49-year class, andthen declined regularly to $2,043 for lawyers 65 andover. For nonsalaried lawyers separately the highestmedian earnings were reported by the 50- to 54-year-oldage £roup.

Changes in Income and Costs, 1936-41.

Average and median net incomes for 1936, 1937,1939, and 1941, the four years covered by the survey,are reported in table 7. The average and medianincome of all lawyers in the legal service industry, andof nonsalaried lawyers separately, rose from 1936 to1937, declined from 1937 to 1939, and rose again, from

Chart 2.—Average Income of Lawyers in Independent Practice

THOUSANDS OF DOLLARS10 1

1929 I93O 1931 1932 1933 1934 1935 1936


939 1940 194!D.D. 43-438

1939 to 1941. Estimates of the average income ofthe nonsalaried group for 1938 and 1940, based on themovement of incomes in other independent profes-sions, show 1938 to have been the poorest year of theperiod and 1940 to have fallen between the 1939 and1941 levels. While the direction of movement fromyear to year thus follows that of general business con-ditions, the most striking characteristic of the periodwas the stability of legal incomes. From 1936 to1941 the median income for the nonsalaried grouprose but 11.1 percent, and the average 9.1 percent.The average income of the all-salaried lawyers, on

Table 7.—Average and Median Net Income of Lawyers in theLegal Service Industry Classified by Type of Income,Selected Years 1936-41

Item 1936

Number reporting:All lawyers in the legal service industryNonsalaried lawyersPart-salaried lawyersAll-salaried lawyers

Average net income:All lawyers in the legal service industryNonsalaried lawyersPart-salaried lawyersAll-salaried lawyers

Median net income:All lawyers in the legal service industryNonsalaried lawyers -Part-salaried lawyers

2, 2511.807

223221

$4,411$4, 394$i, 929$4, 004

$2, 857$2, 665$3. 426

1937

All-salaried lawyers I $3,229

2,3831, 887257239

$4, 511$4, 483$5,169$4, 040

$2, 952$2, 759$3, 826$3,364

1939

2,5612,021301239

$4,417$4, 391$•1, 790$4.190

$2, 901$2,704$3, 922$3, 470

2,6372, 099307231

$4, 832$4, 794$5, 204$4, 683

$3. 230$2, C63$4, 210$3, 938


the other hand, failed to decline from 1937 to 1939,and increased slightly more than that of the nonsalariedduring the 1936 to 1941 period as a whole.

Of each one hundred dollars of gross income re-ceived by nonsalaried lawyers in 1941, $16.10 wasused to meet pay-roll expenses, $17.10 was requiredto meet other costs of practice, and $66.80 was leftas net income. As table 8 shows, these relationshipswere fairly stable during the period covered by thesurvey, although pay-roll expense failed to fluctuateas much as gross income, while other costs of practicefluctuated slightly more than did gross income.

Table 8.—Disposition of the Average Gross Income ofNonsalaried Lawyers, Selected Years 1936-41

1936

Amount:Average gross income

Pay-roll expenseOther costs of practiceNet income

Percentage of gross income:Average gross income

Pay-roll expenseOther costs of practiceN et income

$6,581$1,068$1,119$4, 394

100.016.316.966.8

1937

$6,726$1, 088$1,155$4, 483

100.016.217.166.7

$6,615$1,115$1,109$4, 391

100.016.916.766.4

1941

$7,172$1,155$1, 223$4, 794

100.016.117.166.8

Data for the average earnings of lawyers7 employees,tabulated on a full-time-equivalent basis, are presentedbelow. Average full-time-equivalent earnings increased5 percent from 1936 to 1941, as may be seen from thefollowing data:

Average fun-time-equivalent, earn-ings of lawyers'

employees1936 _. $1,2011937. 1,2251939 1,2051941 ^ 1,260

Analysis of the Gross Income of Lawyers.

One of the major purposes of the legal survey wasto determine the proportion of the gross income oflawyers which was derived from personal legal servicesfor individuals as contrasted with legal services ren-dered to business enterprises (including unincorporatedbusinesses). This break-down of receipts is requiredfor the estimation of consumer expenditures lor legalservices, a component of the national product, and willalso be of interest to the profession. Among the moreimportant types of legal services rendered to individu-als are the handling of damage, divorce, and criminalcases, and the settlement of estates. Seven-tenths ofthe nonsalaried and part-salaried lawyers returningquestionnaires segregated their receipts from individu-als for 1941, although in many cases the figures repre-sented estimates by the reporting attorneys. The re-turns indicated that 48.5 percent of the total grossincome of the legal-service industry was derived frompersonal legal services rendered to individuals, whereas51.5 percent was obtained from enterprises for servicesto business. The lawyers with the smaller gross in-comes usually derived most of their revenue from serv-ices to individuals, w^hereas those with large grossincomes, including the larger partnerships, tended toderive most of their revenue from services to business.It follows that a majority of the independent practi-tioners depended chiefly upon individuals, rather thanbusiness, for the major portion of their revenue.6

6 It should again be pointed out that salaried lawyers who receive their salariesfrom business or government are outside of the legal-service industry and are conse-quently not represented in the data upon w7hich the above comparison is based.

The Business Situation(Continued from p. 8)

by pipe line. The " Big Inch'7 which is now delivering oilto the East coast will step up the pipe-line movement200,000 barrels per day by August 16, and will reach acapacity of 300,000 barrels per day by mid-September.It is anticipated that the "Big Inch" and other newfacilities will contribute 14 billion ton-miles to theestimated 1943 pipe-line performance. Total pipe-linetraffic of both trunk and gathering lines will probablyrise to slightly over 100 billion ton-miles. This totalwill represent a 26 percent increase over 1942.

Water.

Inland water transportation for 1943 presents a studyin contrasts. Movements on rivers, canals, and con-necting channels, featured by a tremendous volumeof petroleum traffic, have been at high levels in recentmonths indicating that this year will exceed any pre-vious year. But the severe winter which delayed theopening of the Great Lakes traffic by approximatelyone month was a real set-back to total water trans-portation. The loss of one month's shipping time

makes it extremely unlikely that the movement of ironore, coal, and grain can reach the high volume trans-ported in 1942. The heavy spring floods and theseries of coal strikes further tended to depress the in-land waterway performance in the first half of thisyear. The diversion of freighters to other services andthe great needs of our overseas forces will keep coast-wise traffic at a very low level, despite the relativeabatement of the submarine menace. On the whole,total domestic water-borne ton-miles will be about 3percent below 1942.Local Transit.

The local transit industry faces a particularly seriousequipment problem. Even at the end of 1942 totalpassengers carried were one-third higher than seatingcapacity. This condition became more acute in thefirst half of 1943 when local transit traffic increasedapproximately 25 percent over the same period lastyear. Furthermore, current indications suggest a con-tinuation of this rate with total 1943 traffic 25 percentabove 1942.


New Index of Retail Prices, 1939-43The Bureau of Foreign and Domestic Commerce has prepared

a monthly index of retail prices for use in connection with itsestimates of sales of retail stores. The index, which is on a 1935-39 base, covers the period January 1939 to date. It will bepublished monthly with other price indexes in the statisticalsection of the Survey. The index represents the movement ofprices at retail stores and is based upon data collected by theU. S. Department of Labor and other agencies. It differs fromthe cost-of-living index published by the Bureau of LaborStatistics by the omission of rents and other service prices andthe inclusion of prices for building materials, farm machinery,and other nonconsumer commodities sold through retail stores.

Chart 1.-—Retail Prices and Cost of Living l

5NDEX, 1935-39 = 100JbO

140

130

no

3 00

90

RETAIL PRICES*

_ | f _^

...

COST OF LIVINGU

. ! 1 1 ! 1 . • I 1 !

!939 1940 1941 1942

* Represents cost of living of wage earners and lower-salaried workers in large cities.

Sources: U. S. Department of Commerce and U. S. Department of Labor.

The combined index is built up from ten component indexes,one for each major group of retail stores, by the use of constantweights, namely, the dollar sales for the 5-year period 1935-39 ofthe group of stores to which the index applies. Annual averagesof the component indexes are not unweighted averages of themonthly indexes. Rather, each annual index is a weightedaverage obtained by deflating dollar sales for each month,totaling the 12 monthly deflated sales figures, and dividing thistotal into the total of 12 monthly undeflated sales figures.

Table 1.—Index of Prices at Retail Stores, 1939-43[1935-39 = ] 00]

Month

JanuaryFebruaryMarch....April..MayJune ...JulyAugustSeptemberOctoberNovemberDecember

Average

1939

99.398.698.498.298.197.998.298.0

100.3100.8100.599.9

99.0

1940

99.7100.299.8

100.0100.2100.4100.4100.1101.0101.2101.2101.6

100.5

1941

101.8101.7102.7103.6104.6106.6107.8108.9111.2114.8116.1116.6

108.1

1942

• 118. 4119.8121.8123.0123.9124.5125.7126.0126.4127. 7128, 8129.6

124.7

1943

130.0130.4132.4133.9134.9134.6

The sources of data used in preparing the component price in-dexes are shown in the adjoining list. Where component in-

dexes were obtained by combining individual indexes, weightswrere based in most cases on analysis of sales by commoditygroups from the 1939 Census of Retail Trade. For some of thegroups adequate price data are not available, and arbitraryassumptions were necessary to construct the index. This isespecially true of eating and drinking places where, for lack ofanything better, the Bureau of Labor Statistics retail food priceindex was used. Thus, while some of the component indexes arenot sufficiently reliable to publish at this time, it is believed thatthe combined index represents fairly accurately the movement ofretail prices as a whole. The combined index is shown in table 1.

Series Used in Constructing Retail Price Index

Group of retail stores Source and price index

1. Food group2. Eating and drink-

ing places3. Apparel group

4. Filling stations

5. Building materialsand ha rdwaregroup

G. Housefurnishingsgroup .- . .

7. Automotive group..

8. Drug stores..

9. General merchan-dise stores

10. Other retail stores..

Bureau of Labor Statistics retail food price index.

Bureau of Labor Statistics retail food price index.Clothing component of Bureau of Labor Statistics cost-of-

living index 1935-40. Beginning January 1941, shoerepairing and dry cleaning excluded from index.

Index based on price of gasoline, including tax, retailedin 50 cities as reported by the Texas Company.

Combination of:(a) Bureau of Labor Statistics retail price index of

building materials (64).(fr) Bureau of Agricultural Economics index of prices

paid by farmers for farm machinery (13).(c) Bureau of Labor Statistics cost-of-living index for

selected house furnishings items (9).(d) Bureau of Labor Statistics wholesale price index o f

selected hardware and tools items (14).

Housefurnishing component of Bureau of Labor Statisticscost-of-living index.

Index based on average retail list price of new cars reportedin "Motor. Age" 1935-41. Beginning January 1942 combi-nation of following indexes:

(a) Index based on price increases allowed by theOffice of Price Administration on new automo-biles (42).

(6) Index based on price increases allowed by theOffice of Price Administration on automobileparts (32).

(c) Bureau of Labor Statistics price index of auto-mobile repair services (14).

(d) Index for filling stations listed above (12).Combination of following Bureau of Labor Statistics in-

dexes:(a) Ketail food price index (27).(b) Cost-of-living index for drugs (47).(c) Cost-of-living index for tobacco (16).(d) Cost-of-living index for toilet goods (10).

Combination of:(a) Index for apparel group listed above (52).(6) Index for housefurnishings group listed above (19).(c) Index foF food group listed above (12).(d) Index for drug stores listed above (5).(e) Cost of goods in Bureau of Labor Statistics cost-of-

living index (12).Combination of:

(a) Bureau of Labor Statistics cost-of-living index forfuel and ice (except gas) (23).

(6) Bureau of Agricultural Economics index of pricespaid by farmers for feed, equipment and supplies,fertilizer, and seed (16).

(c) Liquor price index based on cost of goods in Bureauof Labor Statistics cost-of-living index with allow-ance for changes in Federal tax rates (12).

(rf) Cost of goods in Bureau of Labor Statistics cost-of-living index (49).

NOTE.—Numbers in parentheses following sources are weights.

The Department's index of retail sales adjusted to eliminateprice changes is obtained by a weighted average of ten com-ponent deflated sales series. The sales index for each majorgroup of stores is divided by the corresponding price index, andthe resulting deflated indexes are combined by using as weightsthe 1935-39 sales by groups of stores.

August 1043 SURVEY OF CURRENT BUSINESS S-l

Monthly Business StatisticsThe data here are a continuation of the statistics published in the 194.2 Supplement to the SURVEY OF CURRENT BUSINESS.

That volume contains monthly data for the years 1938 to 1941, 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 1938. Series added orrevised since publication of the 1942 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 terms "unadjusted" and "adjusted" used todesignate index numbers refer to adjustment of monthly figures for seasonal variation.

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

Monthly statistics through December 1941, to-gether with explanatory notes and referencesto the sources of the data, may be found in the1942 Supplement to the Survey

1943

June June July August

1942

Sep-tember

October

Novem-ber

Decem-ber

Janu-ary

Febru-ary

1943

March April M a y

BUSINESS INDEXES

INCOME PAYMENTSt

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

Salaries and wages do.Total nonagricultural income do.

Total mil. of doL.Salaries and wages:

Total § doCommodity-producing industries--,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 nonagricultural income - do

* p •FARM MARKETINGS AND INCOME

Farm marketings, volume:*Indexes, unadjusted:

Total farm marketings ._.1935-39 = 100.Crops . doLivestock and products.._. do

Indexes, adjusted:Total farm marketings _do_

Crops ..._..do.__.Livestock and products ..do

Cash farm income, total, including Govern-ment payments* mil. of doL.

Income from marketings* doIndexes of cash income from marketings: f

Crops and livestock, combined index:Unadjusted- 1935-39=100-.Adjusted do

Crops do_._Livestock and products do

Dairy products .doMeat animals doPoultry and eggs.. _ do

INDUSTRIAL PRODUCTION(Federal Reserve)

Unadjusted:Combined index 1935-39=100.-

Manufactures- doDurable manufactures . . . d o

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 doAutomobile bodies, parts and as-

sembly _ 1935-39=100..Nondurable manufactures..__..._..do

Alcoholic beverages doChemicals _.doLeather and products d o . . . :

Shoes doManufactured food products do

Dairy products J doMeat packing. _ do

2211.5P234.02204. 9

*12,162

*8,406*3, 977

2

v\, 354

v% 094o, 984

2662154

2135P1172149

*1,407*1,383

2208,02256.02248.02261.02202. 5*298.5*275. 5

*203P2172303201*>130P143

1-12323662194

46-'614

2164PI 47

2113

P210

2154

'169. 6'185.1'•167. 0'9, 727

'6, 592'3, 038

5387

1641,119

1,7658, 833

11064

145

124102140

1,1121,070

161.0191.5166.5208.0163.0251.5177.0

17718524619813813913828718615818317137

396

112136116166116114139210149

'172.8189.6

170. 2r9, 671

'6, 693'3,204

4586

169846

' 1, 877' 8, 650

126118132

129121134

1,2491,219

183.5192.5187.5196.0161.0226.0180.5

18018925119614013714128918815118615132

425

116139133167114115156207138

1 70. 2193. 2172.6% 547

-•6,863'3,334

35

164437

'1,997'8,412

138154126

127117134

1,4351,412

212.5204.5209.5201.5164.0234.0187.0

18719626019713813613929919116019516730458

124144140170115117165192132

'178. 4195.8174.5

10 , 450

'7,083'3, 414

3085

176

' 2, 212' 9,092

165211130

132130134

1,7531,726

260.0207.5222.5197.5166.0227.0181.0

19320326719913513613431019316320016638

479

129151140181112112

P 181

147

-183.0''201. 7178. 9

10, 836

'7, 396'3, 528

2685

175752

' 2,428' 9, 266

178221145

130128132

2,0151,962

295.5211.0225.0201.5167.5230.0194.0

195205276207135141131320192163202167

37507

135148123192117115

P 156» 109

146

189 .2'208. 8184. 210, 680

'7, 568'3 , 598

2484

174522

2,3329,243

157178141

141152133

1,8251,764

265.5224.0248.5208.0168.0239.0204.0

19520627920312513911832919715718617139

525

141147103199115111

» 151*91166

193. 4'213. 9187 .9

1 1 , 608

'7, 748'3,627

2384

1801,419

'2 ,177' 10, 354

144153138

141144139

1,5711,499

225.5226.5237.5219.0177.0249.5233.5

19420728320011614410134020213915615939

547

14614694

206114130

»150»S8186

196 .5'218. 6191 . 9

10 , 819

'7, 725'3 , 598

1983

195781

' 2,035' 9, 733

117112121

127127127

1,3611,261

190.0224.0237.0215.0170.0222.5286.0

19420828720410713991

34820013813918738

559

15114390

209120118

P 1 4 0" 8 9171

'200.6'222. 4194. 8

11,499

'7,845'3 , 665

1581

199442

' 1,932'9 ,514

10284

116

129121134

1, 2051,126

169.5239.5245.5235.5183.0260.0271.5

19721129220811414499

35219913212618440

572

155146110213123119

» 135v 102

147

'204. 4'225.0197.0

11,261

'8,001r3, 743

1178

210907

' 2,065' 10,143

11585

137

140137141

1,4021,310

197.0260.5273.0252.5189.0274.0319.5

19921229621011914410635919213312618539

583

158144105216114115

v 134P 1 1 9

140

'207. 3'228. 6'200.1

11,240

'8,127'3,803

777

215753

'2,068'10,120

11471

147

136128141

1,3871,322

199.0261.0272.0254.0202.0284.0276.5

201'215300209125

14411536219414112819442

'597

159145107

'22111611721352141136

'208. 7'230.7'201.9

11,138

'8, 245'3,875-

476

'224486

'2,107'9, 964

12175

'156

139130

'147

1,4401 , 400

'210.5'258.0264.5253. 5

»204.5'282.0275.5

'204*217^304208-

131143125'36519415413721447

'606

162147106

'220114115P142:2187162

9 Preliminary. ' Revised.§The total includes data for distributive and service Industries and government which have been discontinued as separate series to avoid disclosure of military pay rolls.{Scattered revisions in the 1940-41 figures for dairy products, and in the 1941 figures for iron and steel and machinery are available on request.•New series. For a description of the indexes oi the volume of farm marketings and figures beginning 1929, see pp. 23-32 of the April 1943 Survey. Data beginning 191&

for the dollar figures on cash farm income are shown on p . 28 of the May 1943 Survey.t Revised series. Data on income payments revised beginning January 1939; for figures for 1939-41, see p. 27, table 1, of the March 1943 Survey; the 1942 figures for most

items are revised in this issue; revisions not shown above are as follows: Indexes—total income payments, Jan., 155.2; Feb., 157.1; Mar., 159.1; Apr., 163.4; May, 165.4; salariesand wages, Jan., 164. 0; Feb., 167.0; Mar., 170.8; April, 175.4; May, 179.0; total nonagricultural income, Jan., 152.7; Feb., 154.7; Mar., 157.3; Apr., 160.5; May, 162.8. Dollar fig-ures (millions)—total, Jan., 8,458; Feb., 8,063; Mar., 8,771; Apr., 8,904; May, 8,764; total salaries and wages. Jan., 5,698; Feb., 5,782; Mar., 5,973; Apr., 6,155; May, 6,338;commodity-producing industries, Jan. 2,524; Feb., 2,598; Mar., 2,676; Apr., 2,797; May, 2,924; entrepreneurial income and net rents and royalties, Jan., 1,715; Feb., 1 ,589;Mar., 1,639; Apr., 1,715; May, 1,699; nonagricultural income, Jan., 7,639; Feb., 7,369; Mar., 8,034; Apr., 8,086; May, 7,951. The indexes of cash income from farmmarketings.have been completely revised; data beginning 1913 are shown on p . 28 of the May 1943 Survey.

S-2 SURVEY OF CURRENT BUSINESS August 1943


1943

June

1942

June July August Sep-tember

Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary

Febru-ary March April M a y

BUSINESS INDEXES—Continued

INDUSTRIAL PRODUCTION—Con.Unadjusted—Continued.

Manufactures—Continued.Nondurable manufactures—Continued.

Paper and products 1935-39=100.Paper and pulp. do—

Petroleum and coal products doCoke do.Petroleum refining.-- do..pg-_

Printing and publishing do.Textiles and products._..._ do.Cotton consumption doRayon deliveries..- - doWool textile production. ..do

Tobacco products - -do—Minerals* do.. . .

Fuels* do., . .Anthracite*-- --- - . .do. . . .Bituminous co l* .__.._ d o —Crude petroleum . _ -do—

Metals - do....Adjusted-.

Combined index§ . do—Manufactures! do—

Durable manufactures! --do—Lumber and products§ do. . .

Lumber doNonferrous metals do—Stone, clay, and glass products!..do—

Cement! __-.do—Glass containers do—

Nondurable manufactures§-... do —Alcoholic beverages§ do—Chemicals --do—Leather and products! do. . .

Shoes§ . .do . . .Manufactured food products! do . . .

Dairy products! do. . .Meat pack ing .. -do...

Paper and products! do. . .Paper and pulp! do. . .

Petroleum and coal products! do.. .Petroleum refining . .do . . .

Printing and publishing do. . .Textiles and products..- do. . .Tobacco products!... __.__.do.__

Minerals! - - . . .do. . .Metals do. . .

BUSINESS INVENTORIES, ORDERS,AND SHIPMENTS

Estimated value of business inventories:*Totnl. mil. of dol.

Mamifactuxers doRetailers . . . - - do. . .WholesnWs . do. . .

Indexes of manufacturers' orders, shipments,and inventories:

New orders, total Jan. 1939=100.Durable goods.__ _ do.._

Tron and steel and their products..do...Electrical machinery do. . .Other machinery -do...Other durable eoods_. . do. . .

Nondurable goods doShipments, total . .average month 1939=100.

Durable goods . d o . . .Automobiles and equipment d o . . .Iron and steel and thoir products.- d o . . .Nonferrous metals and products*. . .do._.Electrical machinery . do.. . .Other machinery. . d o . . .Transportation equipment (except

automobiles) d o . . .Other durable goods d o . . .

Nondurable goods d o . . .Chemicals and allied products d o . . .Food and kindred products. do.._Papor and allied products d o . . .Petroleum refining. _._ _do.__Rubber products . . d o . . .Textile-mill products . . doOther nondurable goods . . do

Inventories, total doDurable goods . .do

Automobiles and equipment doIron and steel and their p roduc t s . . . do . . .Nonferrous metals and products*.. .doElectrical machinery .doOther machinery . d o . . .Transportation equipment (except auto-

mobi les ) . . . . .average month 1939=100.Other durable goods. . . . d o . . .

v 109p 153160

p 128P 121v 114P 7 3

P 103v 123

*201P 2 1 6P 3 0 2P 1 2 3v 113v 194v 142

p 147

"J>~228v 11(3v 116v 147v 148v 158

v 110p 153118

v 117v 137

13313411516410810.3152169169151132132121117144113195

176184244131127186147171163136104172121120138138153134135115108104152122127159

29,31117,1837,4964,632

31454529557057S913166

202256161211217249306

1,271187

160168164139136171186147

172.9193.2222.7132.3152.1277.8203.1

802.3131.4

12212111716311096154166168160131131121122141112192

178188249133130188140169145138122174116115143143146125125118111106154126126155

29,23117,3177.4394,475

256399254699411504163

207264172210220267311

1, 362191

163169171126142183187146

174.2195. 8226.1133.9153. 3290. 3204.8

824.8128.6

130130121165114103154169169154135136126118140121194

183193258129125191145177153140135173113110143143153131132121114111154130130152

29,09417. 3927,3574,345

233334222491421377167

212270184215212268312

1, 466187

167171178131135179191154

175.0198.0229.9134.3156.5299,9204.6

852. 8126.5

134132122166116109156172170155144137129129150120184

187197265125119193152182163142139179111108

M48P140

159132133122116109156133131145

29, 03417. 439

7, 3504,245

264390250411358636183

224283194216228286322

1,579200

177187187136140205197165

175.4200.9241.4134.1156.5307.1207.2

890.3124.0

138138123166117120156172174156149134127117145121176

191203275129123192152184162144126187117115

v 146p 139

145135137123117116156141129139

28, 85117, 547

7, 2754,029

266387223413387643188

228289207212236317333

1, 578197

181182190146138207203173

176.5204.1243.3135.7152.6320.6210.4

924.2123. 3

134137123166117121158171177161141132130124154121143

195207279128122197153180169148122197117116

v 152p 136

147135137123117118158136130133

28, 72817, 6827.0903,956

279415264586381619192

232300223214246351337

1,692191

179183185143154214202171

177.9207. 7244.1137.4152.3326.1213.0

975. 0123. 6

129131119166112114156163178163137119126105143121

197210285127119202148165171149111205117116

P158v 140158132133119112114156160127132

28, 02817,6526,3843, 992

255361233353361574187

240320240239262408351

1.775181

178185184144139222204166

177.6210.1232.9139. 2151.9324.1219.6

1, 020. 8122. 2

13213511616610911115717118015413211612410214511868

199212291124116200163169208149105210122122

v 157p 141145133135117109113157140125132

r 27. 78317,676'% 1163, 991

2473642583463J5587172

226298231205230369322

1,797179

169193178138135241191140

177.8211.3233. 8135.2157. 3327.0221.9

1,062.7119.7

13714012016911311516017118116612212213112915712169

202215295129121199155156199

'150123213118118

v 155v 142153135137120113

'113160131131133

'27, 41117.440'5,9454,026

275405315437315617191

255337250225262446364

2,100197

192210200152139280216170

175.5209.6237. 3131.9150.1331.6223.4

1,051.0117.0

137139118169110114157166181163123124133128161122'69

202215298124114192149146197147112211112111

P 152v 141154135137118

no110157131133133

27,51317,380' 6. 1064, 051

284433383319303022188

249330238227255415354

2,042201

185210185155148271213105

174.9210.247. 3129. 0149. 6341. 9225.5

1,053.1116.6

136138121169114116155166181

' 15712512533112915112485 |

203'216'301' 125115194144134194147103

-•218'116'117p 150v 140143134136120113110155 |133 |131 |133

280 I409 |301 i406 !362 I629197 !

137140121

v 166114114157169185158123

' 133' 129124143

'125' 154

203'217' 303' 126' 11719414513120014794

'221' 115' 115P 1 4 8P 1 3 7162136139121114HI157120

' 130'134

• 27, 362 ! r 27, 22517.433 I • 17.400' 5, 935 [ r 5# 703v 3, 994 4, 002

267'389'312r 341'294'619' 189

253338262224269450354

2,063204

186211179159161277202177

175.4213,5251.2130.3149.2350. 4227.4

1,087.9115.1

' 247' 338'279'224' 259' 426'353

' 2, 057' 201

' 177199

' 173' 160' 162

292'195'149

175.7213.524 o. 7132. 1148.2354.3

r 226.8

'1,088.9113.4

' Revised. » Preliminary.{Scattered revisions in the 1940-41 figures for minerals and fuels, the 1939-41 figures for bituminous coal, and the 1941 figures for anthracite, are available on request.§Revisions have been made in seasonal adjustment allowances for recent periods; for total industrial production, total manufactures, durable, and nondurable manu-

actures, the resulting changes in the indexes do not exceed 1 point for any month before December 1941 (shown in March Survey). Revisions are available on request.^Seasonal adjustment factors for a number of industries for which indexes are included regularly in the Survey have been fixed at 100 beginning various months from

January 1939 to February 1942, as stated in the descriptive note for the industrial production indexes included in the 1942 Supplement and in the note marked "X" on P- S-2of the April 1943 Survey. Beginning with the May 1943 issue of the Survey, data for these industries are not shown in the adjusted series above as the "adjusted" indexesare the same as the unadjusted series.

*New series. For data beginning December 1938 for the estimates of business inventories, see p . 7, table 2, of the June 1942 Survey. Data for shipments and inven-tories of nonferrous metals and their products were formerly included in "other durable goods."

August 1943 SURVEY OF CURRENT BUSINESS S-3

Monthly statistics through December 1941, to-gether with explanatory notes and referencesto the sources of the data,may be found in the1942 Supplement to the Survey

1943

June

1942


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary


BUSINESS INDEXES—Continued

BUSINESS INVENTORIES, ETC.-Con.

Indexes of manufacturers ' orders, shipments ,and inventories—Continued.

Inventories—Continued.Nondurable goods..a vg. month 1939=100...

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

155.1162. 7160. 3149.7111. 5165.4165.1160.7

155. 3163.3159. 8152.7110.3170.2165. 0161.3

154.8164.4159. 2154.6111.2174.8159. 5161.3

153.1161.0158.0154. 6109.6173.5156.2160.8

152.4156. 5161. 2149.8109.3172.7155.1159.1

151. 8155.1160.1146.5107.2174.4153.1161.8

149.2158.7156.2144.0106.8174.6147.2157.4

148.6155.4152. 5141. 4107.0172.3147.0161.8

145.154.147.140.106.175.142.158.

143.6152. 4145.2139.3106.0181.0140.0154.8

142.1149.1146. 0138.6104. 3]S5.2140. 2149.6

* 142. 6r 149. 0r 149.5' 130.9*• 103. 8

188.0r 141.8' 117. 2

COMMODITY PRICES

COST OF LIVING

National Industrial Conference Board: fCoinbined index 1923= 100..

Clothing do..-..Food doFuel and light doHousing doSundries do ...

17. S. Department of Labor:$Combined index 1935-39=100..

Clothing doFood .. doFuel, electricity, and ice doH ousef uruishings doRent do

Miscellaneous do.. . .

PRICES RECEIVED BY FARMERS§

U. S. Department of Agriculture:Combined index 1909-14=100..

Chicken^ and eggs . doCotton and cottonseed doDairy products do....Fruits do... .Grains.. doMeat animals doTruck crops doMiscellaneous doRETAIL PRICES

U. 8. Department of Commerce:All commodities, combined index*. 1935-39=100

U.S. Department of Labor indexes:A n t h ra ci te 1923-25 =100.Bituminous coal doFood (see under cost of living above).

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

Apparel:In fan Is' doMen's doWomen's do

Home furnishings doPiece goods do

WHOLESALE PRICESU. S. Depar tment of Labor indexes:

Combined index (889 quota t ions) . . 1920=100..Economic classes:

Manufactured products doRaw materials doSemimanufactured articles do

Farm products d o . , . .Grains doLivestock and poultry do

Commodities other than farm products1926=100,.

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

Commodities other than farm products andfoods 1926=100..

Building materials doBrick and tile doCement doLumber doPaint and paint materials . . . . __ . do

Chemicals and allied products doChemicals doDrugs and Pharmaceuticals doFertiH'/cr materials . . doOils and fats do

Fuel and lighting materials doElectricity doGas doPetroleum products do

104. 388.6

115.992.390.8

107.1

124.8127.9141.9107. 7125. 4105. 0115.7

190179166178234151211308194

134.6

113. 0

108.1105. 3112.7115. 5112.2

v 103. 8

p 100. 1p 111.3v 92. 8

v ] 20. 2113.8128. 6

v 98. 7109. G93.fi

109. 5143. 6111.6

p 9G. 8110.699.093.6

136. 3102.0100.090. 4

165.278. 6

102. 081.0

62.6

97.488. 199.590. 291.0

104.3

116.4125.3123. 2105. 0122. 3108. 5110.9

151137153141148116191169134

88.896.6

113.1

108. 0105. 1112.9115.fi112.2

P8. 699.892.8

104. 488.8

110.9

97.199.387.292. 0

105.4113. 9

95.6110.198. 194.2

131.7100.397.2P0. 5

129. 178.4

108. 578. 463.381.259.8

97.888.0

100.190.590.8

104.7

117.0125. 3124.6106.3122.8108. 0111.1

154145155144131115193200139

125.7

88.896.8

113.1

108.0105. 1112.8115.6112.3

•8. 6 j 98. 7

f'8.6100. 192.8

105. 389. 1

117.8

97.099.287.296.098.5

113.4

95.7110 398.094.2

132. 9100. 796.79f>. 5

129. I78. 5

104.279.062.781.460.6

98.188.2

101.189.590.8

104.8

117.5125. 2126.1106. 2123.0108. 0111.1

163156151151126115200256173

126.0

88.8

113.1

108.0105. 2112.7115. 5112.3

99.2

98.9101.292.7

100. 189.8

122.6

97.5100. 887.8

100.298 0

115. 2

95.6110.398.794.2

133.0100. 196.296.3

129. 078.3

101.679.062.280.460.7

98.888.4

102.890.590.8

104.6

117.8125. 8126.6106. 2123. 6108.0

99.888.5

105.390.590.8

105. 3

119.0125. 9129.6106.2123.6108.0

163166156156129119 i195191172

126.4

97.0

113. 1I

10<\0 |105.2 !112.7 j115.5 i112. 2

99.6

P9. 2102.292.9

107.893. 6

122. 1

97.7102.489.1

105. 597.5

116.0

95.5110.498.794.2

133. 2100.496.296.3

128. 978.2

101. 579.062.681.160.6

!

169173158165134117200226 i185 I

88.997.0

!113.1

108.0 !lln 3 i112.6 !llr, 5 i112. 2 !

100.0

99.4103.092.7

109.091. 5

123.4

97.9103. 489.3

109. 2 |P8.2

115.5

95.5110.498.794.2

133.3101.096.296.2

128.878.3 j

101. 5 !79. 061.979.260.6

100.588.6

106.490.690.8

106.2

119.8125.9131.1106. 2123.7108.0112.7

169178160171127117197238181

128.8

113. 1

108.0105. 3112.5115.5112.2

100.3

99.4103. 992.6

110.5 j92.8

121.3

97.9103. 589.5

111.2102.0112.0

95.8110. 198.694.2133.1100. 799.596.2165. 478.6101.579. 162.378.460.7

101.188.6

108.290.690.8

106.2

120.4125.9132. 7106 3123.7108.0112.8

101.588.6

108.892.190.8

106.4

120.7126.0133.0107. 3123.8108.0113.2

178183162175151124198293211

129.6

97.2

113.1

108. 1105. 3112.6115. 5112.2

101.0

99.6106. 192.5

113.8100.7123. 9

98. 1104. 3 I89.3 !

111.8 I104.3 I113.6 j

95.9110.098.794.2

133.3100.399.596. I

165. 479.0

101. 579.262.076.160.7

182185164177139134205277217

r 130. 0

93.497.9

113.1

108. 1105. 3112.6115. 5112.2

101.9

100. 1108.292.8117.0107.3129.2

98.5105. 290. 6113. 4102.6115. 5

101.988.6110.092.390.8106.5

121.0126.2133. 6107.2124.1108.0113.6

178170163179156138214301 !158 |

130.4

93.598.4 !

113.1

108.1• 105. 3112.6115.5112.2

102.5

100.3109. 692.9

119.0108.6132.8

98.7105.8 !92.2 j

133.3108. 5115.5 I

96. 0109 898.794.

133100100.96

165.79.

101.79.

236294053

62.673.60.

28

96.2110.298.694.2

134. 6101.2100. 396.9

165. 579.0

101. 579.863.075.861.2

103.088.6

112.892.490.8

106.5

122.8127.6137.4107.4124.5108. 0114. 5

182171166180172143218302163

r 132. 4

93.499.8

113.2

108.1105. 3112.7115.5112.2

103.4

100.5112.093.0

122.8112.2135.7

99.0 I107.4 I93.5 i

113.2 !115.6115. 5 !

96.5110.498.794.2

134.6102.2100.096.4

165.0 !79.0 '

101.580.360.275. 661.5

104. 088.6

115.492.590.8

106. 5

124.1r 127. 9

140. 6107.5

*• 124. 8108. 0

r 114.9

173167180189146218291176

r 133.9

93.5100.1

113.2

108.1105. 3112. 7115. 5112.2

103.7

100. 6112.893.1123. 9112. 5131 0

99.1108. 493.7113.3123. 2115.8

96.6110.398. 794.2134.7102. 5100.196. 4165. 180. 0101.580.660.070. 462.0

104. 288. 5115.892.690.8106. 7

125.1r 127. 914?.. 0107. ()

r 125.1108.0

r 115.3

187175167179212148214253196

134.9

93.6101.4

1.13. 0

108.1105.3112.6115.5112.2

P 104.1

p 100. 7p 114.0

93.0p 125. 7

113.1130.5

v 99. 2110." 593. G

113. 11)7 n

115! 9

110. 598.993. 9

135. 6102. 2100.296. 4

165.180. 0

102. 080. 8

*> Prel iminary.

77.562. 5

" rn ' i i ummry . T rieviseu.§Data for Ju ly 15, 1943: Tota l , 188; chickens and eggs, 183: cotton and cottonseed, 168; dairy products , 178; fruits, 230; grains, 154; meat animals, 206; truck crops, 315-

miscellaneous, 190.J See note marked "X" on p . S-3 of the July 1943 Survey in regard to revisions incorporated in the indexes beginning March 1943. Rents , which are subject to control in all

cities covered by monthly reports, vary little in most areas and data are now collected only at quarterly pricing periods.



1943

June

1942


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary


COMMODITY PRICES—Continued

WHOLESALE PEICES—Continued

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

foods—ContinuedHides and leather products 1926=100-.

Hides and skins doLeather doShoes do

Housefurnishing goods - doFurnishings doFurniture - do

Metals and metal products doIron and steel doMetals, nonferrous doPlumbing and heating equipment__do

Textile products doClothing . doCotton goods doHosiery and underwear doRayon doWoolen and worsted goods do

Miscellaneous doAutomobile tires and tubes... doPaper and pulp__ do

Wholesale prices, actual. (See under respectivecommodities.)

PURCHASING POWER OF THEDOLLAR

As measured b y -Wholesale prices 1935-39= 100.-.Cost of living do . - . .Retail food prices doPrices received by farmers do

117. 8110.0101. 3120.4102.8107. 398.1

v 103. 897.386.090.497.4

107.0112.670.530.3

112. 591.873.0

104. 3

77.580.170.455.3

118.2118.5101. 3126.4102.9108.197.4

103.997.285.698.597.6

109.1112.770.030.3

111.090.273.0

101.6

81.685.981.169.6

118.2118.5101.3126.4102.8108.097.5

103.897.285.694.197.1

107.2112.769.730.3

111.089.873.0

100.5

81.585.580.268.2

1

118.2118.8101.3126.4102.7107.997.4

103.897.285.694.197.3

107.2112.969.730.3

111.788.973.098.9

81.185.179.264.4

118.1118.0101.3126.4102.5107.497.4

103.897.286.094.197.1

107.01.12.769.730.3

111.788.873.098.8

80.884.878.964.4

117.8116.0101.3126.4102.5107.397.4

103.897.286.094.197.1

107.0112.470.530.3

111.788.673.098.8

80.484.077.162.2

i

117.8116.0101.3126.4102.5107.397.4

103.897.286.093.297.1

107.0112.470.530.3

111.790.173.098.8

80.283.576.262.2

117.8116.0101.3126.4102.5107.397.4

103.897.286.090.497.2

107.0112.470.530.3

1 1 2 . 1 I90.573.099.0

79.683.175.359.1

117. 8116.0101.126.102.107.97.

103.

345348

97.286

so971071127030

1129073

100

78

04305534701

982.97557

17

117.8116. 0101.3126.4102.6107.397.7

103.897.286.090.497.3

107. 0112. 670.530.3

112.490.973.0

101.1

78.582.674.859.1

117.8116.0101.3126.4102. 6107.3

97.7103.8

97.2 '80.090.497.3

107.0112.670.530.3

112.491.473.0

102.7

77.881.472.757.7

117.116.101.126.102.107.97.

103.97.

! 86.90.97.

803463782044

107. 0112.670. 530.3

112. 591.673. 0

102.9

77.580.671.056.9

117.8116.0101.3126.4102.7107.398.0

p 103. 897.286.090.497.4

107.0112.6

I 70.5t 30.3' 112. 5* 91.9f 73.0104.3

77.379.969.856.2

CONSTRUCTION AND REAL ESTATE

CONSTRUCTION ACTIVITY*

New construction, total ...mil. of dol..Private, total . . .do . . . .

Residential (nonfarm) doNonresidential building, except farm and

public utility, total ___mil. of dol.Industrial.. doAll other.. _ do

Farm construction, total doResidential do...Nonresidential _ do

Public utility.._ -doPublic construction, total do

Residential _. -doMilitary and naval doNonresidential building, total do

Industrial doAllother .do

Highway doSewage disposal and water supply doAll other Federal doMiscellaneous public-service enterprises

mil. of dol. .

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...Contract awards, 37 States (F. W. Dodge

Corporation):Total projects -number..Total valuation thous. of dol.

Public ownership _.-do._.Private ownership do...

Nonresidential buildings:Projects. number..Floor area thous. ofsq. ftValuation ..thous. of dol

Residential buildings:Projects .number..Floor area.- thous. ofsq. ft.Valuation thous. of dol.

Public works:Projects .number.Valuation thous. of dol..

Utilities:Projects number..Valuation tbous. of dol

v 722p 145

*>577

» 188J>184

*>36

P 4 8

14,846229, 599183,16746,432

3,05617, 28394,834

10,42414,07061,508

97835. 720

38837, 537

1,211236100

41241733191462

97546

491325312

13711027

5

22883

19376

51,8631,190,2641,105,414

84,850

14, 372134,085568, 385

33,00250,673

185,471

2,739203,341

1,750233,067

1,40322192

41281327151261

1,18248

649370359

11751025

5

23275

20674

33,100943,796875,95167,845

11,093113,134489,066

18,92433,634

127,382

1,960129,611

1,123197,737

221

41301122139

CO1,265

56681417408

9721025

19464

18265

30,055721,028633,18387,845

10,95290, 774

407, 324

17,11026,177

100, 551

1,384111,960

101,193

1,41521595

4131101912

760

1,20071

626403395

865

922

18170

17970

30,558723,216660,953

62,263

10,40597,962

466,860

18, 55629,759

126,708

1,11165,811

48663,837

1,27420092

37298

1596

561,074

66523389382

762

922

17580

18583

35,934780,396709,879

70,517

9,94577, 245

372, 991

22,21837,444

161,206

3,035154,795

73691,404

1,123168

31238

1064

47955

61497330324

647

711

17486

35,872654,184591,940

62, 244

12,28152,615

256,513

21,82637,707

156, 654

1,08094,157

146,860

88912865

22166523

3676163

358286282

430

517

13977

17591

38,797708,716663,81744,899

15,09367,327

278, 091

21, 30238,112

159,652

1,386142,157

1,016128,816

82911554

18126312

4071459

333283280

324

5

118

14579

25, 338350,661315,575

35,086

6,84227,913

154,064

17, 42824,920

110,813

68238,254

38647,530

77110445

1495523

40667

59302266264

2234

11

5410256

18, 503393, 517363, 85229,665

5,09037,810

187, 242

12,15522,18893, 294

76152,856

49760,125

751108

44

1275734

45643' 7 5284

' 2 4 2' 2 4 0

224

412

2

84448542

16,117339,698304,032

35,666

3,63528, 310

144, 935

10, 29516, 99071, 786

1,63562, 037

55260, 940

'72411652

1064945

45'608

' 7 4276

'214' 2 1 1

3' 2 9

5' 8

2

71396333

15,435303, 371253, 33450,037

3,83918,83596, 214

10, 44018,76779, 434

78741, 822

36985,841

^727'130

65

' 1 2' 7

51156

42'597

'J79'264' 206' 203

3' 3 5

5

' 6 2' 3 7' 52' 3 1

14,024234, 426192,00042,426

• ' t o *] 3, 45515,12675,301

9,19715, 20763, 291

1,01047, 704

36248,130

* Revised. * Preliminary.•New series. The series on new construction are estimated by the U. S. Department of Commerce, Bureau of Foreign and Domestic Commerce, with the exception

of the series on residential (nonfarm) construction which is from the U. S. Department of Labor and the data for military and naval and public industrial construction sinceJanuary 1941, which are from the War Production Board. For annual data beginning 1929, see p. 32, table 11, of the June 1943 Survey, and for quarterly estimates for 1939to 1942, see p. 10, table 7, of the May 1943 issue. Additional data relating to the derivation of the estimates are shown on pp. 24-26 of the May 1942 issue.



1943

June

1942


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary

Febru-ary March April May

CONSTRUCTION AND REAL. ESTATE—Continued

CONTRACT AWARDS, PERMITS, ANDDWELLING UNITS PROVIDED—Con.

Indexes of building construction (based onbldg. permits issued, U. S. Dept. ofLabor) :f

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

Permit valuation:Total building construction do

New residential buildings do |New nonresidential buildings doAdditions, alterations, and repairs-do

Estimated number of new dwelling units innonfarm areas (U. S. Dept. of Labor):

Total nonfarm (quarterly)* numberUrban, total do

I-family dwellings do2-family dwellings doMultifamily dwellings do

Engineering construction:Contract awards (E. N. R.)§.__thous. of dol..

HIGHWAY CONSTRUCTION

Concrete pavement contract awards: %Total thous. sq. yd..

Airports doRoads.. doStreets and alleys do

Status of highway and grade crossing projectsadministered by Public Roads Adrnn.^

Highways:Approved for construction:

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

Under construction: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

80.3

CONSTRUCTION COST INDEXES

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

Average, 30 cities 1913=100Atlanta doNew York doSan Francisco doSt. Louis do. . . .

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

E. H. Boeckh and Associates, Inc.: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 doNew York.. doSan Francisco doSt. Louis do

Frame:Atlanta do.New York ___do.San Francisco... do.St. Louis do.

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

Federal Home Loan Bank Administration:Standard 6-room frame house:

Combined index 1935-39=100.Materials do...Labor do...

57. 361.148.371.7

81, 30013,9309, 9481,6862, 296

274, 493

8,0276, 3251,104

250256252233243

216.0

107.3138.3132.5131.2

107.0139.7135.8133.0

107.9137.3136.1129.7

107.7140.8131.0127.2

108.0142.9127. 4124.9

289.9

126.123.0134.3

126. 3100. 2104. 686.3

166,40022,06913,9611,1047,004

968,938

15, 26611,0382,0602,167

1,65432,808

6,071122,402217, 290

7,1087,843

33,41335, 409

223

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

17,02710, 2811,3145,432

1,201,526

14,94711,3661,9271,655

1,71836,170

5,483114,997200,868

7,358

31,29933, 279

244245250229240

209.9

106.1138.2130.0129.6

106.0139.6132. 3132.6

106.5137.4133.1129.4

104.1139.7125.8126.9

103.6141.4122.0124.8

281.6

123.7121.2128.5

17,04812, 253

7714,024

813,077

13, 94710,0912,6531,202

1,60637,059

4,954109, 549189,077

6,6657,327

29,41231, 296

245248250229241

213.3

106.1138.2130.0129.6

106.0139. 6132.3132.6

106.5137.4133.1129.4

104.1139.7125.8126. 9

103.6141.4122.0124.8

281.6

124.0121. 2129.4

99, 50022,0.6711,6941,1509, 223

712, 709

20,09016, 9351, 5181,637

1,53435,534

4,262102, 419174,898

6,7977,458

26,41728, 231

225

246249251229242

213.3

106.1138.2130.0129.6

106.0139.6132.3132.6

106.5137.4133.1129.4

104.1139.7125.8126.9

103.6141.4122.0124.8

282. 4

124.4121.5130.2

21,77216,4481,1334,191

691,979

12, 4537, 6002,8062,047

1,52434,968

3,71498, 230165,052

5,8526,512

24, 60826, 387

246249251229242

213.5

106.1138.5131.3129.6

106.0140.0134.6132.6

106.5137.5134.5129.4

104.1139.9126. 8126.9

103.6141.5122.5124.8

283.6

124.5121.6130.2

14,52210,671

9262,925

607, 622

89, 20013,1579,7611,0582,338

373, 622

8,6715,8211,4061,444

1, 53133,435

3,32991,839153, 221

5,9046,564

23,19024, 835

247250251229242

213.5

107.0139.8132.0130.6

106.7141.0134.4133.4

107.2138.5135. 3130.2

105.3140.9127.6126.7

105.0142.5123.3125.6

283.7

124.4121.5130.2

142. 4

7,7345,0741,4881,171

1,40429, G34

2,95588,028143,983

6,8217,484

22, 24223,853

225

248250251230242

213. 5

107.2139.8132.0130. 6

106.9141.0134.4133.4

107.6138.5135.3130. 2

140. 9127.6126.7

106.8142.5123.3125.6

283.5

124.5121.4130.7

70.883.672.238.9

24,69216, 492

8777,323

226, 826

6, 2375,065541631

1,36929,042

2,80785,097139,497

6,7767,439

21, 20122, 797

249253251230242

213.7

107.3140.0132.3130.7

107.0141.2135.6133. 5

107.8138.9135.7130.4

107.4142.3129.6127.4

107.7144.3125.6126.5

283.5

124.7121.5ISO. 9

102.9

53.564. 548.741.3

17,67913, 582

5883, 509

306, 242

6,8725,644649579

1,35227, 808

2, 35973, 657120, 810

6,8547, 516

17,90518,800

249253251230242

214.1

107.3140.0132.3130. 7

107.0141.2135. 6133.5

107. 8138.9135.7130.4

107.4142.3129.6127.4

107.7144.3125.6126. 5

285.2

125.5121.9132.5

90.8

53.166.444.146.5

118,50015, 53811,8811,1042,553

305,973

7,2425,466927850

1,40126,655

2,17667, 716

109,824

6,3006,963

15,30715,947

227

249254251232242

214.1

107.3140.0132.3130.7

107.0141.2135.6133. 5

107.8138.9135.7130.4

107.4142.3129.6127.4

107.7144.3125.6126.5

288.8

r 125, 7122.0133.0

89.5

54.763.945.557.8

15, 68612,0521,3532,281

379, 068

3,8482,240

768840

250254251232242

215.0

107.3140.0132.3130.7

107.0141.2135. 6133.5

107.9138.9135.7130.4

107.7142.3129. 6127.4

108.0144.3125. 6126.5

289.9

125.7121.8133.4

' 119. 3

'56.0'78.8'35.3'58.4

r 20, 68416, 6641,6462,374

273, 650

7,8425,7111,346

785

250254252232243

216.0

107.3138.1132.3131.2

107.0139.5135.6133.0

107.9136.9135.7129.7

107.7139. 4129. 6127.2

108.0141.1125.6124.9

289.9

126.2' 122.2

134.3' Revised.§Data for July, October, and December 1942 and for April 1943 are for 5 weeks; other months, 4 weeks.tData represent 4-week periods except for July and October 1942 and March 1943, which cover 5 weeks, December 1942, which covers Nov. 30 to Dec. 31, and January

1943 which covers Jan. 1-30; earlier data published in the Survey similarly cover, in general, 4- and 5-week periods.IMany projects approved for construction and technically under construction are inactive because of suspensions.

> "New series. For quarterly estimates of total nonfarm dwelling units for 1940 and January-June 1941, see note marked "*" on p. S-4 of the November 1942 Survey; thisseries includes data for urban dwelling units shown above by months and data for rural nonfarm dwelling units which are compiled only quarterly.

tData have been revised beginning January 1940 and further revisions of the indexes for 1942 are in progress. Revisions for the latter year are at present available onlyfor January-June; January to May 1942 data are available on p. S-5 of the May to July 1943 Surveys.



1943

June

1942


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary


CONSTRUCTION AND REAL ESTATE—Continued

REAL ESTATE

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

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

thous. of doL.Estimated total nonfarm mortgages recorded

{$20,000 and under)* thous of dol..Estimated new mortgage loans by all savings

and loan associations, total..thous. of doL.Classifiod according to purpose:

Mortgage loans on homes:Construction doHome purchase doR f i dH pucRefinancing do_Repairs and reconditioning do

f il thp g

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

Federal thous. of doL.SUite members .doNonmcm hers do

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

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

Fed. Home Loan Rks., outstanding advancesto member institutions. thous. of dol._

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

Foreelosures, nonfarm:fIndex, adjusted 1935-39 = 100..

Fire losses. . thous. of dol..

67,820

4,917,446

342, 250

108,876

8, 94674, 88.515, 9132,7076,425

46, 73050, 18211, 964

1,865,991

90,192

1,441,153

16.126,854

98,

4,071

342;

94,

15.52,15,

3.7.

35.44,14,

800

,838

250

095

930112184566303

279265551

1,849,400

192, 645

1,675

22,

,888

8.0410

109,350

4,155,187

353, 511

95, 797

17,70952,19016,0973,6716,130

37,00743,66515,125

1,852,972

173,593

1,657,256

27.921,000

109,660

4,232,030

336,850

92, 563

12, 56855,30114,0194,1266,549

36, 62041.54914,394

1,856,269

160, 201

1,640,119

24.319,680

100,456

4,311,126

345,964

94,055

12.44958.06014, 0633.8045,679

37,98742, 24913,819

1,861,062

144,752

1,622,087

25. 220, 443

99,833

4,393,862

357,083

91, 672

10, 57256, 52814,6943,4986,380

35,55541,93714,180

1,862,593

131,377

1,603,106

24.422, 621

73,768

4,473,021

278,321

73,979

9,27543,98412, 4723,0075,241

28,16335,44110, 375

1,862,796

121,886

1,586,709

23.424,144

54,086

4,554,952

265,406

70,628

8,47241,44012, 7682,1995,749

27. 38132,75110, 496

1,853,868

129, 213

1,567,367

21.936,469

45,562

4,626,857

228,283

57,856

7,17332,82011, 4081, 6674,788

23.39026,9107,556

1,843,714

113,399

1,547,994

21.027,733

53. 725

4,684,367

219, 882

63, 324

4.59439, 08412,5101,9535,183

26, 56628, 1758,583

1,839,245

95, 624

1,528,815

18.833,175

70,941

4,746,755

209, 419

87,185

8, 57255, 23514, 8742,3776,127

37, 85038,59510, 740

1,839,302

78, 607

1,504,368

17.639, 214

74, 226

4,798,799

308, 957

98,735

9,85365,08815,040

2, 4846,270

42,71744,46111, 557

1,846,536

87, 369

1,482,225

18.334, 241

60, 702

4,856,452

327, 092

100,490

9,03967, 82614,8432, 6066,176

41,83547,81810,837

1,849,999

79, 221

1,460,221

16.929, 297

DOMESTIC TRADE

A D V E R T I S I N G

Advertising indexes, adjusted:Printers ' Ink, combined index.-1928-32=100.-

Farm papers doMagazines . . doNewspapers doOutdoor do

Tide, combined index* 1935-39=100..Magazines* doNewspapers* „ . . . . . do

Radio advertising:Ccstof far-ilities, total thous. of dol_.

Automobiles and accessories . . . d oClothing doElectrical household equipment doFinancial .. doFoods, food beverages, confections doGasoline and oil doHouse, furnishings, etc doSoap, cleansers, etc doSmoking materials .doToilet goods, medical supplies. doAll other _. do

'Magazine advertising:Cost, total do

Automobiles and accessories doClothing doElectric household equipment doFinancial doFoods, food beverages, confections doGasoline and oil. doHouse furnishings, etc doSoap, cleansers, etc doOffice furnishings and supplies -doSmoking materials _.doToilet poods, medical supplies. . . doAll other do

Linage, total thous. of lines..Newspaper advertising:

Linage, total (52 cities) doClassified. doDisplay, to ta l . . do

Automotive— - . . . d oFinancial doGeneral doRetai l . . ._ do

96.488.1

107. 786. 6

135. 6145.«106. 4

12, 5516S2997964

3, 36051250

1,0281, 6333, 6241, 416

18,45S1, 282

934516407

2,7724127424702(>7804

3, 2906, 5572, 360

114,01629, 30884, 7093.0791, 323

21, 09959, 203

GOODS IN WAREHOUSES

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

80.951.777.674.269.2

112.2104. 691.2

8,989265

624541

2,473367

421, 0501,2992,792

553

13,932796735213304

2, 043392536477171732

2.9284.6041,769

97.66320. 60877, 055

2, 5411.370

14,84158,303

85.4

88.061.990.379.075.9

123.4126. 5100. 5

8,500367

554541

2,162349

421.0131,3292, 571

527

11,10963125C213257

1,738306208320170609

2,4064,0011,700

89,41120. 08569. 326

2.3161.616

13,98751,407

84.1

88.263.284.281.372.5

122.6134.9101.2

8,186448455753

2,05134251

9281, 2522,337

623

12, 415765724126280

1,785405266378193671

2, 2684, 5542,072

94,96321,93173. 0322,1461,022

13,19556, 669

83.2 I

87.669.481.579.486.9

122.5140.096.5

8,878429

704749

2,336346

43929

1.3472,659

622

15,394754

1,208232425

2,307422624350275741

2,4635.5932,344

104. 50622, 65881.847

2,4811,099

15, 57262,695

81.0

84.269.882.077.965.6

113.3127.995.8

10,332339

945349

3,027480

56853

1,4853,081

815

18,1891.1431,381

443441

2, 947415882445298831

2,8656,0992,528

117,44224,07193, 3712,4041, 233

19,78169, 953

82.1

88.473.991.782.155.6

117.1134.4100.1

10, 7163621156757

3,027532

54799

1,4973,1361,069

19,450979

1,144522466

3,377367757479322983

3, 0756,9792, 650

119.06322. 99696. 0672,7871,470

21, 77570, 035

82.5

96.882.7

101.387.677.5

118.6146.197.1

11,234361125

5460

3,180609

49904

1.6063,2751,061

16,940607870401336

2,608187735270328781

2,6827,1342,033

120. 33221, 75698, 575

2, 5811, 467

19,14775,381

83.6

84.764.879.877.377.1

123.1159. 6103.0

11,169347616776

2,91964660810

1,6043,4101,169

64.983.181.977.0120.0144.9103. 4

10, 345348605762

2. 78557248

8361, 4753,0781,024

12, 631651381199340

2,083146312319166743

2,1665,1252,179

94,48822, 28572. 204

1,5131,887

14, 67454,130

83.4

15, 798721725382350

2,772271342569207733

2,9405, 7852,432

95, 60722, 23573, 372

1, 4231,232

17,83652, 881

83.3

87.060.578.780.885.0

112.4125.197.3

11,949479

975572

3,128638

481,0401, 6553,4911,246

17,459956

1, 186351392

2,722336597661238866

3,122' 6, 032

2,608

113,19026, 92586, 2652.5001, 595

20, 26261,908

92.175.582.987.469.9

123.1126.6108.5

11,971513

927782

3,288639

501,0221,6073,3191,284

18, 6721, 0331, 25S

452337

2,906437802592293796

3,2426, 5232, 671

125, 28229,18396, 0992,8641,817

20, 80170, 617

89.977.488.982.369.2

123. 2131.199.7

12, 3465901019696

3,27750462977

1, 6033, 5021,531

21. 3511.4521,142

571457

3, 140492926666353918

3,650r 7, 584

2,788

120, 98531, 22089, 7653,2201, 247

21,17964,120

83.7 83.7r Revised.{Minor revisions in the data beginning January 1939; revisions not shown in the September 1942 Survey are available on request.§See note marked "§" on p. S-6 of the April 1943 Survey with regard to enlargement of the reporting sample in August 1942.•New series. The series on nonfarm mortgages recorded is compiled by the Federal Home Loan Bank Administration; for information regarding the basis of the estimates

and data for January 1930 to September 194? see note marked "*" on p. S-5of the November 1942 Survey. The new indexes of advertising are compiled by J. K. Lasser & Co.for "Tide" magazine; the combined index includes radio (network only prior to July 1941 and network and national spot advertising beginning with that month), farm papers,and outdoor advertising, for which separate indexes are computed by the compiling agency, in addition to magazine and newspaper advertising shown above; data beginning1935 will be published in a subsequent issue.

fThe index of nonfarm foreclosures has been revised for 1940 and 1941. Revisions are shown on p. S-6 of the May 1943 Survey.



1943

June

1942


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary


DOMESTIC TRADE—Continued

POSTAL BUSINESSAir mail, pound-mile performance millions.Money orders:

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

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

CONSUMER EXPENDITURES

Expenditures for goods and services:*Total .. .mil. of doL

Goods do. . .Services (including gifts) do. . .

fndexes:Unadjusted, total 1935-39=100.

Goods- do. . .Services (including gifts) do. . .

Adjusted, total do.-_Goods do. . .Services (including gifts) -do.. .

RETAIL TRADEAll retail stores, total salesf.. . .mi l . of doL.

Durable goods stores doNondurable goods storesf -do

By kinds of business:A pparel doAutom otive doBuilding materials and hardware d o . . . .Drug .doEating and drinkingf- doFood stores __ do . ._ .Filling stations -doGeneral merchandise doHousehold furnishings doOther retail storest do

All retail stores, indexes of sales:Unadjusted, combined indexf.-1935-39—100..

Durable goods stores doNondurable goods storesf do

Adjusted, combined indexf do.Dnrable goods stores _ .do.Nondurable goods storest- _.do_

By kinds of business, adjusted:Apparel. do .Automotive § do.Build ing materials and hardware doDrug d o . . .Eating and drinkingf do.._Food stores. . d o . . .Filling stations d o . . .General merchandise d o . . .Household furnishings do._ .Other retail storesf d o . . .

Chain-store sales, indexes:Chain-store Age, combined index C20 chains)

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

Drue 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=100Adjusted. do . . .

Chain-store sales and stores operated:Variety chains:

S. S. Kresge Co.:Bales thous. of dol . .Stores operated number.-

S. H. Kress & Co.:Sales . . . thous. of dolStores 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. Wool worth Co.:Sales thous. of dolStores operated number . .

7,770158,381

17, 636262, 532

v 5,068

VI62." 4

Vl63.~8

5, 228898

4,330

537277352226634

1, 351239771198643

161.8113.0177.6163.0106.3181.4

216. 865.4152.7193.4245. 3169.1104.2151.5140.2236.6

178.0208.0

155. 5164. 5

v 156. 3v 154.0

139. 6147. 3

15,167661

9,612245

5,188202

6, 864208

34, 6772,009

3,130

6,31273,783

16,865162, 616

6,5724,2772,295

134. 4137. 2129.4135.1138. 0129.9

4,503837

3,666

352260354181468

1,248286648174532

139.4105.4150. 5140. 499. 5

153.7

142.361.2

153.4155. 6181.0156. 3124.6127.2123.4200.6

171.0172.0

129. 5137.0

173.4170.8

129.1136.2

14, 536673

9,105246

4,833203

6, 205207

33,0252,011

3,443

5, 57365, 221

16, 071152, 047

6,5264,2242,301

131.3132. 6128.9139.0144.1130.1

4,433813

3,620

302269336190495

1, 285317583162493

134.5101.2145. 3146. 2103.9160.0

163.161.4157.0162. 2188.3159.3141.4139.0136. 7188.8

177.0200.0

132. 3138.8

169.0172.4

132.2143.4

13, 565672

8,733246

4,504203

5,775207

31, 7052,011

3,661

5, 495

14, 582142, 851

6,7534,4422,312

136. 4140.3129.5143.1149.6131.6

4,615846

3,769

365269336195525

1.274280662187522

140.7104.4152. 5149.6105.1164.1

180.761.5156. 9168. 7190. 3166. 5115.3147.1138.2189.9

182.0212.0

135. 2142.3

167.3174.3

124.8142. 3

14, 781671

9,607246

5, 017203

6,156207

33, 6752,012

3,870

5,95278, 701

16, 308174, 772

7,0284, 6982,330

145. 2153.1131.3141.7147.4131.6

4,840838

4,003

456247342194529

1,275280765193558

152. 5108. 3166.9146. 1103.2160.0

163.558.3153.1163.9201.0160.4124.8142.0142.3183.6

183.0220.0

132.7138.2

168. 9172.4

137.8143.4

14,997671

9, 599245

5,023203

6,094207

33,8472, 015

4,335

6,02278, 748

17, 386180, 535

7,5205,1792,340

148.9159.1131. 1145.0153.0130.9

5, 257874

4,384

528240351207546

1.377283880219628

155. 8105.0172.3149.3100. 8165.1

106. 054.7

147.0174.0209.3166.7128.9144.3145. 7189.3

181.0218.0

149.3147.1

170.9170.0

140.9143. 2

17, 237671

10,278245

5,656203

7,335207

38, 4752,017

4,338

7,74875, 475

15.649162,162

7,1954,8202,375

151.7161.8133. 9148.2156.2134.2

4,843772

4,071

477211289200501

1,277277846201565

157.4102.9175.1152.3100.6169.1

182.149.8

147.5174.9208.8167.8136.3155.0157. 6182.8

187.0228.0

141.6141.0

169. 5169.5

161.6157.0

16,610671

11,046245

5,648203

6,719207

36, 3762,018

8,20190, 554

18, 376196, 067

8. 3525,9762,376

168.1188.1132.9142.6148.5132.2

5,926937

4,989

702208300280540

1,421199

1,214261801

180.1116.8200.7143.394.5159.2

166.347.5149.0180.5207.2164.296.8135.61386179.9

175.0216.0

210.3154.6

167.0162.1

263.0139.2

28, 667671

18,397244

10,464203

12, 269207

64, 2402,015

7,63286, 624

16, 681176, 866

6,7Q04,3832,407

138. 5140.7134.7149.5158.8133.1

4,426644

3,782

406205235203523

1,301192621157583

137. 582.6155.6156.7102 6174.3

198.146.8163.8176.5230. 4172.6111 5156.4161.8190.9

177.0243.0

140.2146. 3

158.0162. 8

106.1144.6

12, 277665

8,063244

4,323202

5, 481207

29, 6392,012

5,98392,987

15,209171,967

r 6,8424,4542,388

' 147. 8154.2

' 136.7r 158. 3172.0

' 134. 4

4,504656

3,848

479199244193524

1, 257193684163565

150.589.1170. 4170.2108.8190.1

260.850 4176.6176.2252. 8173.4123.8176. 8159. 2203.6

194. 0295.0

136.0145. 5

166.4165. 6

125.1157.6

13, 097663

8, 750244

4,671202

5,598207

30, 9652,012

9,527178,211

21, 350338, 616

r 7, 3334,910

' 2, 424

' 146.0151.8

'135.7-• l.F;2. 5161.8

r 136.1

5,067815

4,252

470273298209589

1,407218741191670

151.299.0

168.1159. 9110.4176.0

197.862.3

158.6177.5239.3174.5111.9154. 8159.3197.1

180.0239.0

148. 4149.1

165. 5163.9

123. 6147.4

14, 069662

9,634244

5,163202

6,051208 !

32, 9012,010

7,281101, 268

18, 269243, S25

7,4164, 9842,432

151. 5159. 7137.2150. 1157.9136.3

5,182884

4,298

543284332215602

1,293225802209678

160.2111.3176. 1156. 8111.4171.5

184.667.1

155. 8185. 0241. 7162. 1109.7147. 7151.8213.7

175.0228. 0

151. 7156.9

153.3148.8139.9140.0

16, 060661

10,013244

5, 631202

7,010208

37,317 i2, 009 I

6,92399,878

15,011174, 880

7,345' 4,950

2,394

149.9' 158.9

134. 1150.7

" 159.6135. 2

'5,113r893

' 4, 220r 464'280'333'228'636

' 1, 320234

'752'212' 656

r 158.8'113.3' 173. 6

157. 9' 104. 7r 175. 2

' 184. 9' 63.9' 143. 7

189. 6' 243. 6' im. 2

105. 7' 147. 0' 144. 2' 231. 2

171.0208.0

155.0160.3

154. 9152.6

133.9138.9

14, 631661

9,610244

5,192202

208

34, 8592,008

'Revised. »Preliminary.§Since November 1941, seasonal adjustment factors of 100 have been used for this group.tRevised scries. Data for sales of "eating and drinking places," "other retail stores," and the totals for nondurable goods stores and all retail stores, have been revised

beginning 1935; revised monthly data beginning August 1941 are shown in the October 1942 Survey and revised 1941 monthly averages are in note marked " t " on p. S-7 of theApril 1943 issue; all revisions will be published in a subsequent issue.

*New series. The data on consumer expenditures have been revised beginning 1935. A detailed description of the series, as originally compiled, appears on pp. 8-14 ofthe October 1942 Survey and a subsequent change in the concepts is outlined in the descriptive notes for table 10, lines 16 to 19, included on p. 24 of the March 1943 issue.Revised dollar figures are available as follows: 1939-41, p . 7 of the April 1943 Survey; January and March 1942, p . S-7 of the May 1943 Survey; February 1942, p . S-7 of theApril 1943 issue; annual dollar figures for years prior to 1939 for the total only are on p . 12, table 3, of the May 1942 issue. The indexes are shown on a revised basis in theJuly 1943 Survey. All revisions will be published later.



1943

June

1942


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary

Febru-ary Alarch April j May

DOMESTIC TRADE—Continued

RETAIL TRADE—Continued

Chain-store sales and stores operated—Con.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:Accounts receivable:

Instalment accounts!-..Dec. 31, 1939=100..Open accounts! do

Collections:Instalment accounts!

percent of accounts receivable..Open accounts! do

Sales, total U. S., unadjusted.. 1923-25-100..Atlanta! - 193.5-39=100..Boston 1923-25 = 100..Chicago . 1935-39-100..Cleveland!-- . . . . _ . doDallas 1923-25 = 100..Kansas City 1925 = 100..Minneapolis 1935-39=100..New York 1923-25 = 100..Philadelphia . . . . 1935-39=100..Richmond doSt. LouisJ 1923-25=100..San Francisco 1935-39=100-.

Sales, total U. S., adjusted 1923-25=100..Atlantaf 1935-39=100..Chicago doCleveland! - doDallas 1923-25 = 100-.Minneapolis 1935-39=100..NewYorkt 1923-25=100.Philadelphia 1935-39=100..Richmond ._ doSt. Louisi-- 1923-25=100..San Francisco _. 1935-39=100..

Instalment sales, New England dept. storespercent of total sales..

Stocks, total U. S., end of month:Unadjusted 1923-25=100..Adjusted do

Other stores, instalment accounts and collec-tions:*

Instalment accounts outstanding, end of mo.:Furniture stores Dec. 31, 1939=100..Household appliance stores doJewelry stores do

Ratio of collections to accounts at beginningof month:

Furniture stores percent. .Household appliance stores __ doJewelry stores do

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

Montgomery Ward & Co doSears, Roebuck & Co do.. . .

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

East doSouth . do.. . .Middle West do.. . .Far West do

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

2962

12417895

143154183148145110134175132

P182129205147161206146115140185143

212033

121,28552,14069,145

161.6152.7192.3145.9205.7177.4166.3239.2154.5215.8

12,217494

38, 4511, 609

225610012485

r 1201281099S1179211613799137104143

'12413412311797122144108149

5.4

'130136

141322

117, 59748, 47669,121

160.3162.9179.4144.0203.6176.0177.4223.1152.5213.7

10, 441494

34, 6831,610

7453

236083

1166797

105100

88948192

12087

138121162139143143133114139170126166

6.2

126'141

857173

141322

104,11842, 52161, 597

137.3128.1158.6118.9193.8188.1179.9233.5161.2236.3

11,442494

40, 5231,611

7153

2459

103144

75117134127114115

94112147114158130169148157165131123152194152172

9.1

' 132137

806469

161325

113,44748, 74164, 706

160.8153.3178.0135. 5207. 8196.6192.4246.9164.3225.6

12, 648494

47, 4671,611

6763

2560

133171105155161171133145120143174131184123161141146154126112133170122176

7.0

' 130'125

765965

161426

142,02261, 49580, 527

214.2201.2262.8185.7272.2202.6204.6238.0181.1232.6

15,111493

54, 2941,611

6569

2965

137183117154165170146156130160211145191128173147158150131115139170129182

7.8

'128'115

735463

181530

174,04576,06897, 977

250.5245.4362. 2210.8276.2192.8190.7244.4166.0230.0

14,382493

49, 4261.611

6570

2963

157206116168187191147144144182203158219138186153170171144121142193135210

7.8

'122105

705063

171531

153, 40668, 39685,010

253. 6266.2334.6216.5298.6194.9206.5243.7165.2246.2

25, 138493

63. 3201,611

6891

3165

222286181246252280231219215262304212296125166146146162141119140164129173

5.0

' 9 5100

6946

' 7 9

181545

193,41286, 472

106, 941

272.7273.2325.8243.0324.5170.5164.1216.9155.8298.8

9, 382496

29, 7291, 611

6269

2861

111151

89123132155126114

97112134117150143195155179204143123157197146195

7.8

' 9 2102

6441

' 6 5

17' 1 6' 3 1

96,68239,98356, 699

152.2149.7193.1136.0171.8200.0197.0244.1177.8233.7

10,433492

32. 8901,611

5865

2861

132190

90155155205140132112137161143184168216185194241187138185234166238

7.6

8993

6036

' 5 8

1716

' 3 0

99, 30041,44357,857

174,3164.0245.8151 9192! 3215.5200.5224.1191.0259.9

11,956493

35, 5171,610

5465

3162

121171101136144160144134104135171124

'171136182149169172137127154180138

'196

6.3

r Q391

5732

r 53

1918

' 3 0

118, 53252,19266,340

185.6173.5239.7158.9193.3211.3193.2265.4179.3234.9

13, 824493

40,6231,610

3163133196107151162192150156'116148190136188128188144151190147'114155181129190

6,3

9087

20'18'31

133, 98160, 65673,325

194.3198.1227.3175.0215.0211.4207.8258.0187.3240.7

13,559493

38, 5761,610

4862

3063125193101138154191137135

'108139181129

'180125196136152191136

'115141

rl82129

'187

5.1

'92'90

552649

222033

120,84554,09966,746

160.5157.1197.5141.5186.1174.9170.7232.8149.4207.0

EMPLOYMENT CONDITIONS AND WAGES

EMPLOYMENT

Estimated civilian labor force (Bureau of theCensus):*

Labor force, total millions..Male doFemale do

Employment doMale . . . doFemale . doAgricultural . ..doNonapri cultural do

Unemployment do

54.637.317.353.436.716.711.941.51.2

56.141.115.053.339.413.911.541.8

2.8

56.841.615.254.039.914.111.742.3

2.8

56.241.115.154.039.714.311.242.8

2.2

54.139.214.952.438.214.210.242.21.7

54.039.015.052.438.114.310.541.91.6

54.538.516.052.837.515.39.8

43.01.7

53.437.915.551.937.014.98.9

43.01.5

52.437.115.351.036.314.78.7

42.31.4

52.336.715.650.935.915.08.8

42.11.4

52.036.415.651.035.815.29.0

42.01.0

52.136.515.651.236.015.29.6

41.6.9

53.036.716.352.136.215.910.841.3

.9r Revised. * Preliminary.§Data for 1940-41 revised slightly and rounded to nearest percent; revisions prior to November 1941, which have not been published, are available on request.^The index on a 1935-39 base shown in the 1942 Supplement is in process of revision; pending completion of the revision, the index on a 1923-25 base is being continued.JA few revisions in data for 1938-41, resulting from changes in the seasonal adjustment factors, are shown on p. S-8 of the November 1942 Survey.fRevised series. Indexes of department store sales for Atlanta district revised beginning 1935, see p. 22, table 19, of the December 1942 Survey. Revised data beginning

1919 for the Cleveland district are shown on p. 32 of the April 1943 issue.*New series. Indexes of instalment accounts and collection ratios for furniture, jewelry, and household appliance stores are available beginning February 1941 on p, S-8

of the April 1942 Survey and subsequent issues; earlier data back to January 1940 are available on request (a new series on amount of instalment accounts outstanding isincluded on p. S-16). For estimates of civilian labor force, employment, and unemployment beginning April 1940, see p. 30, table 9, of the June 1943 Survey.



1943

June

1942


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary


EMPLOYMENT CONDITIONS AND WAGES—Continued

EMPLOYMENT—Continued

Employees in nonagricultural establishments:!Unadjusted (U.S. Department of Labor):

Total thousandsManufacturing doMining . _ doConstruction. do..- .Transportation and public utilities.doTrade doFinancial, service, and miscl doGovernment _ . _ _ _ _ _ _ _ do . . .

Adjusted (Federal Reserve):Total . _ do _.-

Manufacturing doMining do _Construction.. do . . .Transportation and public utilities. doTrade do

Estimated wage earners in manufacturing indus-tries, total (U. S. Dept. of Labor)*

thousands..Durable goods. do

Iron and steel and their products .doBlast furnaces, steel works, and rolling

mills thousandsElectrical machinery. _ _ . . do . _Machinery, except electrical do

Machinery and machine-shop productsthousands. .

Automobiles . . . . do .Transportation equipment, except automo-

biles _ _ thousandsNonferrous metals and products do . . .Lumber and timber basic products._.do....

Sawmills . . . do _ .Furniture and finished lumber products

thousands ...Furniture do

Stone, clay, and glass products .doNondurable goods . _ _ . do . .

Textile-mill products and other fiber manu-factures . . thousands .

Cotton manufactures, except small waresthousands

Silk and rayon goods . do . . .Woolen and worsted manufactures (ex-

cept dyeing and finishing) thousands _Apparel and other finished textile products

thousands..Men's clothing _ doWomen's clothing do

Leather and leather products doBoots and shoes do

Food and kindred products .doBaking _ doCanning and preserving doSlaughtering and meat packing do

Tobacco manufactures . . do .Paper and allied products. do

Paper and pulp. _ doPrinting, publishing, and allied industries

thousands. .Chemicals and allied products do

Chemicals doProducts of petroleum and coal do

Petroleum refining doRubber products _ do

Rubber tires and inner tubes doWage earners, all manufacturing industries, un-

adjusted (U. S. Dept. of Labor) f.l939=100. .Durable goods. do

Iron and steel and their products doBlast furnaces, steel works, and rolling

mills 1939=100...Electrical machinery doMachinery, except electrical __ do .

Machinery and machine-shop products1939=100..

Automobiles doTransportation equipment, except auto-

mobiles 1939=100..Nonferrous metals and products. doLumber and timber basic products..do

Sawmills doFurniture and finished lumber products

1939=100-Furniture do

Stone, clay, and glass products.. do

38, 32816 008

' 8351 2003,6496, 3494 ^ 505,937

38, 20116, 092

8411, 0573, 6056, 352

13,7788 2121,715

6991 250

667

2,270414481

355

3615, 566

1 229

853

333

951

89*315

333742

125

188

168.2227.4173.0

"269.8236.6

165.7

1,430.4180.6114.5

108.3

1.22.8

36, 66514,302

9211,9913, 4846, 6064,3245,037

36, 46114, 382

9291,7683. 4466,610

12, 2826,8231,599

549528

1,078

418485

1,443378555312

381174376

5,459

1,298

509106

183

87324822937721494724512017492

312160

32560011212880

14662

149.9188.9161.3

141.3203.6204.0

206.6120.6

909.1164.9132.0108.2

116.2109.6128.1

37, 23414, 641

9232,1083, 5196, 5044,3555,184

37, 05114, 640

9291,8513,4716,609

12, 5647,0031,612

546542

3,094

425513

1,559381559313

374172369

5,561

1,293

509105

183

866241231374213

1,05225419118094

302155

32561311112980

15366

153.4193.9162.5

140.4209.1207.0

209.9127.4

982.5166.3133.0108 7

114.0107.9125.7

37, 80214,980

9182,1813,5336,4964,3715,323

37, 43314, 819

9181,9163,4906,607

12,8697,1921,620

540564

1,114

435534

1,673387561313

369170370

5,677

1,283

507103

181

915247252367209

1,12525824817997

298152

32562311112981

15868

157.1199.2163.4

138.9217.8210.7

214.9132.6

1,054. 3169.0133.5108.5

112.4107.0126.1

38,34815, 233

9102,1853,5426,5614,3975,520

37, 64515,006

9001,9593,4826,523

13,0797,3131,621

532586

1,126

440556

1,752390546303

367170369

5,766

1,272

50598

180

907246252357200

1,21026332217898

297151

32364911112881

16470

159.6202.5163.5

137.0226.3213.0

217.5138.2

1,104. 0170.3129.9105.0

112.0107.2125.8

38, 47815,313

9022,0283,5396,6974,3275,672

37, 96215,162

8881,9023,4666,619

13,1667,4641,635

525610

1,148

449572

1,836392535295

368173368

5,702

1,275

505100

177

904242253357199

1,09926519117499

300151

33167311112679

16973

160.7206.7164.9

135.5235.3217.3

222.0142.3

1,156.5171.2127.2102.5

112.3108.3125.2

38, 53315,434

8941,8963,5206,7714,2955,723

38,32515,349

8831,8893,5086,673

13,2677,5971,643

518630

1,168

457592

1,909398526290

363168368

5,670

1,277

50699

176

887235248363204

1,038263136176100304150

3386&311112578

17477

161.9210.4165.7

133.4243.0221.0

226.0147.1

1, 202. 8173.5125.1100.6

110.5105.8125.3

38,94215,684

8851,6743,5027,1074,2795,811

38, 84215.687

'8842,0043,5356,635

13,4747,7801,676

523649

1,190

465613

1,999405515282

365170368

5,694

1,287

51099

177

886236247364204

1,01826411418799

309151

342702112124

7818080

164.5215.5169.1

134.5250.3225.1

230.0152.5

1, 259. 2176.7122.597.9

111.4106.7125.4

37,86215,743

8671,4703,4636,3714, 2595,689

38. 79115,932

8701,8433,5496,513

13,5037,8751,693

522661

1,202

469631

2,067408489266

362168362

5,628

1,273

50498

176

884237248361202965258

9518596

309151

33571511112377

18381

164.8218.1170.7

134.3255.1227.5

231.7156.7

1, 302. 2178.1116.392.4

110.2105.5123.2

37,95815,851

8671,3863,4566,2914,2705,837

38, 82115,975

8731,7483,5456,458

13,6337,9981,715

524676

1,220

476642

2,132412478260

364170359

5,635

1,275

50598

175

89724025235920193625290

17794

313150

338726112122

7718582

166.4221.5173.0

134.9260.8230.8

235.5159.5

1,343.1179.6113.890.4

111.0106.6122.4

' 38,11515,958

8611, 3573,4756,3284,281

' 5, 855

' 38, 65616, 043

8641,5643,5516,424

' 13, 7278,0991,726

523693

1,233

483649

2,187410479262

364171358

5,627

1,270

50298

174

90324225335419792125480

16793

313150

33473411312278

18683

167.6224.3174.1

134.7267.4233.3

238.7161.4

1,378.1178.8114.090.8

111.0107.1122.0

' 38, 33615 956

8501 3283, 5526,4234 337

' 5,890

' 38, 478' 16,025

8581, 3633,5726,433

' 13,733' 8,145' 1, 729

593695

1 237

487653

2,221411480262

360168

'359' 5, 588

1 254

49797

171

88924024934619391024790

15692

312149

33074411312379

18683

' 167. 6' 225. 6' 174.4

134.6268.4234.1

240.9162.3

1,399. 3179.2114.191.1

109.8105.6

' 122. 3

' 38,262' 15 911

'837' 1, 299r 3, 587' 6, 331r 4 349' 5,948

' 38, 222' 15,998

'842' 1, 213' 3, 577' 6, 357

' 13, 694r 8, 159' 1, 718

522'695

r 1 243

491'660

r 2, 241410

'479263

'356167357

' 5, 535

1,239

49096

170

'86323424133718791424792

154'89312149

329'737

11412480

'18683

' 167. 2' 225.9' 173.2

134.5' 268. 3' 235. 2

242.6r 164. 0

'1,412.0178.8

••114.091.2

108.6104.9121.5

r Revised.fRevised series. The estimates of employees in nonagricultural establishments and in each of the component groups, with the exception of the trade group and the

financial, service, and miscellaneous group, have been revised beginning 1939 and revisions of the earlier data are in progress; the revised data will be published when revisionsare completed (data beginning August 1941 are in the October 1942 Survey). The indexes of wage-earner employment and of wage-earner pay rolls (pp. S-ll and S-12) inmanufacturing industries have been completely revised; for 1939-41 data for the individual industries and 1939-40 data for all manufacturing, durable goods, nondurablegoods, and the industry groups, see pp. 23-24 of the December 1942 Survey. Indexes for the totals and the industry groups have been further revised beginning January1941; data for 1941 are shown on p. 28, table 3, of the March 1943 issue.

•New series. Data beginning 1939 for the new series on wage earners in manufacturing industries will be shown in a later issue; data for the individual industries begin-ning October 1941 are available on pp. S-8 and S-9 of the December 1942 Survey; the figures for all manufacturing, durable goods, nondurable goods, and the industry groupsare shown on a revised basis beginning with the March 1943 Survey and figures previously published for these series are not comparable with the current data.



1943

June

1942


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary



EMPLOYMENT—Continued

Wage earners, all mfg., unadj.f—Con.Nondurable goods 1939=100..

Textile-mill products and other fiber manu-facturers 1939=100..

Cotton manufactures, except small wares1939=100..

Silk and rayon goods doWoolen and worsted manufacturers (ex-

cept dyeing and finishing)...1939=100..Apparel and ether finished textile products

1939=100..Men's clothing .doWomen's clothing do

Leather and leather products .-.doBoots and shoes do

Food and kindred products doBaking „ doCanning and preserving doSlaughtering and meat packing do

Tobacco manufactures „ doPaper and allied products - do

Paper and pulp doPrinting, publishing, and allied industries

1939=100-Chemioals and allied products do

Chemicals. doProducts of petroleum and coal .do

Petroleum refining .doRubber products do

Rubber tires and inner tubes doManufacturing, adjusted (Fed. Res.)f do

Durable goods doNondurable goods do

Manufacturing, unadjusted, by States andcities:

State:California* _ 1940=100_.Delaware... 1923-25=100..Illinois 1935-39=100..Maryland.... _ 1929-31 = 100..Massachusetts! 1935-39=100..New Jersey§-___ . . . 1923-25=100..New York... 1935-39=100..Ohio doPennsylvania. 1923-25=100..Wisconsin 1925-27 = 100..

City or industrial area:Baltimore... ._.1929-31 = 100..Chicago 1935-39=100..Cleveland . doDetroit 1923-25=100..Los Angeles* 1940=100..Milwaukee! 1925-27= 100..New Yorkt 1935-39 = 100..Philadelphia 1923-25=100..Pittsburgh . doSan Francisco* - 1940=100..St. Louis 1937=100..Wilmington 1923-25=100..

Nonmanufacturing, unadjusted (U. S. Depart-ment of Labor):

MimngttAnthracite 1939=100..Bituminous coal doMetalliferous doQuarrying and nonmetallic do

Crude petroleum and natural gas! doPublic utilities:!

Electric light and power doStreet railways and busses doTelephone and telegraph do

Services:!Dyeing and cleaning doPower laundries doYear-round hotels do

Trade:Retail, total! ...do

Food* doGeneral merchandising! do

Wholesale! doWater transportation* do

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

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

Federal civilian employees:United States thousands..

District of Columbia. .do. . . .Railway employees (class I steam railways):

Total thousands..Indexes: Unadjusted! 1935-39=100..

Adjusted! do

121.5

107.4

108.1

96.0

III. 3

95.2118.6

101. 5257.5

117.8

155.

169.2227.4123.4

274.2198.1153. 5189.9146.5

159.4

118.6148.7

181.4154.0

171. 5288.8172.7137.4144.4131. 3330.1

197.5

86.4102.7111.598.281.6

85.4118.7124.1

128.1119.4106.7

98.6105.4111.995.1

143.3

1,382135.4133.5

119.2

113.4

128.588.4

122.7

110.6113.484.3

108.698.2

110.8106.089.1

144.099.0

117.7116.6

99.0208.3160.7120.7110.1120.7113.8150.9188.9121.0

197.5154.3136.0165.3134.2153.1139.4146.2113.6133.2

165.5136.1162.7127.1208.9147.8116.4

r 127. 9119.8212.7135.4

' 139. 7

90.4118.0124.6117.287.4

98.5107.2122.1

129.2119.8103.8

102.3112.1109.0101.490.4

137.5

236,10289,999

112,000

2,207268

1,319126.7125.0

121.4

113.0

128.587.8

122.5

109.7110.185.0

107.797.6

123.1110.0142.3149.1100.2113.7112.5

99.3212.8160. 2121.5110.3126.3121.2153.4193.9121.4

217.5158.0137.5171.6134.6153.3142.3148.4114.1135.5

170.4138.7165. 0133.5218.4152.2119.0128.7119.9247.2139.0138.1

93.0118.4123. 5116.586.8

97.6108.4123.4

125.9124.3102.6

99.5112.0104.2100.685.7

124.8

240, 63394,191

114, 361

2,328274

1,343129.0126.3

123.9

112.2

128.086.0

121.3

115.9113.192.9

105.895.6

131.7111.8184. 5148.6103.5112.3110.6

99.1216.3158.9121.6110.8130.7125. 5155.1198.5120.9

237.9170.6141.5175.9135.8158.4146.4151. 5114.7136.9

174.5142.3167.0137.9229.8155.4129.3131.4120.4274.6138.9150.2

92.8117.5121.4116.386.2

96.5108.7123.8

122.8122.5101.5

98.5110.0104.5101.184.5

122.5

238, 72290,022

117,972

2,451275

1,349129.6126.9

125.9

111.2

127.781.9

120.3

115.0112.592.1

102.891.7

141.6113.6239.7147.3105.2111.9109.7

98.5225.1159.2120.8110.3135.3130.5156.9201.6121.6

244.4172.1141.2177.2136.6161.7149.7155.4114.7138.8

174.8142.9168.7143.1233.9157.6132.0132.5120.4291.8138.6155.0

92.5116.6118.5114.585.0

94.6109.7123. 6

122.1121.5102.1

101.1109.7112.6100.286.9

116.5

219. 04780,836

109,076

2,549281

1,349129.6126.5

124.5

111.5

127.783.2

118.7

114.5111.092.5

103. 091.3

128.6114.7142.4144.6106.4113.1109.5

100.9233.4158.9119.3108.4139.9136.7158.9205.6122.0

244.7169.3142.9176.5138.9161.9152.1157.5115.5141.1

173.4145.8171.6146.9243.3160.0134.1134.5122.5292.2141.4162.6

91.8115.3116.5112.984.4

92.9110.0123.2

123.9121.0103.9

104.3112.0121.8100.990.8

112.8

211,75178,031

105, 701

2,687284

1,348129.5125.3

123.8

127.782.7

118.1

112.3107.691.4

104.793.4

121.5114.1101.3145. 8106.8114.7109.3

103.1240.3159.7117.8107.0143.8141.9160. 9209.6122. 5

245.8177.8142.8178.4140.6163. 2153.6159.3116.0143.5

172.3146.5174.5149.5251.7163.6134.2136.8122.7292.8143.1172.0

91.8113.7116.3109.583.6

91.3110.0122.9

118.8119.2103.7

106.6111.4132.5100.198.3

108.1

186,94258,947100,898

2,750284

1,343129.0127.9

124.3

112.5

128.982.7

118.5

112.2107.891.1

104.993.5

119.1114.484.5

155. 0106.3116.4109.6

104.3243.7160.4117.4107.1149.0147.4164.4215.4124.3

253. 0180.8145.4180.3143.1164.7155.8163.1116.8145.1

174.2149.0178.7150.3266.7164.3134.7137.4124.0299.3147.2174.8

90.9112.7115.8105.983.0

90.4111.6122.4

114.8118.3103.3

117.0111.2166.399.698.4

96.5

161,01040, 58894,108

i 2,891284

1,351129.6131.6

122.9

111.3

127.281.6

117.9

112.0108.291.2

104.192.8

112.9111.670.5

153. 7102.4116.6110.0

102.2248.0159.8116.0106.3151.6150.0167.1219.3126.0

254.3179.2146.3186.2144.8165.9156.0163.5117.0145.1

180.1149.7178.1160.8271.3165.5134.01S9.6125.4303.8146.9177.8

83.4111.8114.898.681.2

89.0113.2122.3

111.8119.2101.8

99.0107.0112.397.7

100.8

84.9

147, 91533,65588,831

2,864285

1,346129. 3134.4

127. 581.7

117.4

113. 7109.792.8

103. 392.1

109.5109.267.0

146.8100. 2117.8109.3

103. 0251.9161.3115. 2106.1152.8150. 7167.9222.5124.9

261.9183.7148.9189.7145.0108. 2158.4165.9118.4146. 3

183.3152. 5183. 8164.1278.2168.4136.7142.0127. 7317.9147.2181.0

89.5110.4114.496.780.3

88.1114.8122.2

113.2118.5104. 4

97.3106.4108.897.6

110.2

84.8

144,70633,32886,527

2,945287

1,340128.7132.0

<• 122.9

111.1

126.981.8

116.9

114.4110.693.2

101.990.5

107.7110.159.5

138.499.9

118.0

101.8254.8161.7115.6

r 107. 2153.8153.0168.6

' 225.1124.1

266. 4185.9149. 5192.2145.6

~160~7' 168.0

118.3147.0

184.9152.7

' 187.8165.0283.3170.1139.9143.2128.4321.5147.8184.9

89.4109.1113.496.3

'82.3

87.4115.5122.0

116.1117.4

' 104.9

98.3' 106.1

111.097.3

117.0

86.3

146. 55035, 62387, 052

2,979285

1,352129.9133.2

122.0

109.6

125.580.8

114. 6

112.6109.791.699 888.5106. 5107.166.9129 398.6117.7108. 4

100.6258. 3162.4116.0

M08.4153. 8153. 3168. 4225. 7123.2

r 120. S

108.3

123.7

80.1

113.8

' 109. 3106.988.7

'97.085.9

' 106. 9107.168.2

127.8-95.1

r 117.7108.4

' 100. 4' 255. 8

163.2' 117.3

109.7r 153.9

153.9' 168. 2' 226. 0

122.7

270.1189.6150. 1192.4145.4

160.41G8. 3118. 1146.9

185.2151. 9190.1162.8286. 8170.3139.8143.9129.3321. 5151.9

"191.0

88.8106.2112.698.2

'"82.1

86.6117.1122. 8

125.1118.4

' 105. 1

100.8106.3116.496.5

124.9

89.5

154,16442,84187,429

' 3, 006' 2 8 3

1. 374' 132.0

269. 6r 193.6

151.2' 190.0

146.1

159.2

'117.6147.0

' 182.5152. 8

169.9287.1171.1137. 7

r 144.0'129 .7

320. 6154.2

T 194. 3

> 87. 3' 103. 4' 110.9

r 98 2' 8 1 . 6

85.7r 117.5

123.2

r 126.2118.4

r 105. 6

' 98. 5' 105. 3' 112 .7' 95. 1

' 131 .8

163, 44649,17590,363

3, 029280

1.378132. 2

' 134.1 132.7r Revised, i Includes about 80,000 excess temporary Post Office substitutes employed only at Christmas; such employees have been included in data for earlier years.JTotal includes State engineering, supervisory, and administrative employees not shown separately. §Index is being revised.t R i d i Th D t t f L b ' i d f l t i f t i i d t i h b ltl id tJ g g , p y , dministrative employees not shown separately. §Index is being revised.tRevised series. The Department of Labor's indexes of wage-earner employment in manufacturing industries have been completely revised; see note marked " ! " on p.

S9 . Revised seasonally adjusted employment indexes are as yet available only for all manufacturing, durable goods, and nondurable goods; the indexes for all manufacturingand for nondurable goods are preliminary. Earlier data for the employment index for New York City not shown in the July 1942 and subsequent issues of t*vie Survey andfor the Massachusetts index shown on a revised basis beginning in the May 1943 Survey will be published later The Department of Labor's indexes of employmentand for nondurable goods are preliminary. Earlier data for the employment index for New York City not shown in the July 1942 and subsequent issues of t e yfor the Massachusetts index, shown on a revised basis beginning in the May 1943 Survey, will be published later. The Department of Labor's indexes of employment innonmanufacturing industries have been revised to a 1939 base, and, in some instances, adjusted to 1939 Census data; revised data beginning 1939 are shown on p. 31 of theJune 1943 Survey. The index of railway employees has been shifted to a 1935-39 base and the method of seasonal adjustment revised; earlier data will be published later.

*New series. See note marked "*" on p. S-12.

August 1943 SURVEY OF CURRENT BUSINESS S-ll


1943

June

1942


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary

Febru-ary

|March 1 April M a y


LABOR CONDITIONS

Average weekly hours per worker in factories:Natl. Ind. Con. Bd. (25 industries).. .hours..U. S. Dept. of Labor, all manufacturing t

hours. .Durable goods*. _ do

Iron and steel and their products...do ._Blast furnaces, steel works, and rolling

mills hours..Electrical machinery doMachinery, except electrical do

Machinery and machine-shop productshours

Machine tools doAutomobiles. doTransportation equipment, except auto-

mobiles _ . hoursAircraft and parts (excluding engines)

hoursShipbuilding and boat building..do

Nonferrous metals and products doLumber and timber basic products doFurniture and finished lumber products

hoursStone, clav, and glass products do

Nondurable goods*. _. doTextile-m ill products and other fiber man-

ufactures . . hoursApparel and other finished textile prod-

ucts . . . . . hoursLeather and leather products doFood and kindred products . doTobacco manufactures. ._ doPaper and allied products doPrinting and publishing and allied indus-

tries _ hoursChemicals and allied products doProducts of petroleum and coal, .doRubber products _ _ do

Average weekly hours per worker in nonmanu-facturing industries (U. S. Dept. of Labor):*

Building construction hoursMining:

Anthracite.- doBituminous coal... doMetalliferous . . doQuarrying and nonmetallie... _- do

Crude petroleum and natural gas doPublic utilities:

Electric light and power doStreet railways and busses doTelephone and telegraph _. do

Services:Dveing and cleaning _„ doPower laundries. . . do

Trade:Retail, total doWholesale. do

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

Beginning in month thousandsIn progress during month do

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

Placement activities:Applications:

.Active file thousandsNew and renewed... do

Placements, nonagriculturalf doUnemployment compensation activities:

Continued claims thousandsBenefit payments:

Individuals receiving payments?., doAmount of payments... . thous. of dol.

Labor turn-over in manufacturing establish-ments :f

Accession ra te . mo. rate per 100 employees..Separation rate, total do

Discharges doLav-offs do. . .Quits doMiscellaneous do

PAY ROLLSWage-earner pay rolls, all manufacturing,

unadjusted (U. S. Dept. of Labor) 11939 = 100Durable goods . . . do

Iron and steel and their products doBlast furnaces, steel works, and rolling

mills 1939=100..

400435

950955

4,750

862

592

1005, 950

42.7

42.945.243.6

40.046.449.7

. 49.253.844.4

47.7

47.248.444.641.1

41.540.139.9

40.2

35.438.141.538.540.6

38.042.839.041.5

37.2

35.433.543.844.639.1

40.548.040.3

45.443.7

41.841 4

345421

110126586

4 2801,841

644

3,159

55330, 226

8.256.46

381.213 851 02

234.5312.1241.5

192.9

42.6

42.644.843.0

39.246.048.8

48.352.743.8

47.4

46.648.244.541.0

41.439.239.8

39.9

35.138.141.938.640.2

38.042.839.241.9

37.5

32.330.542.144.739.4

40.447.840.5

43.243.3

42.041 3

388471

100114417

* 3 2541, 656

657

3,207

57532, 625

8.286 73

431.054 021 23

242.7323. 9245.7

197.2

43.2

43.045.343.7

40.246.449.4

48.852.845.1

47.3

46.747.644.841.8

41.440.140.2

40.3

36.238.441.339.541.2

38.043.139.542.3

37.3

34.032.143.444.738.8

40.048.540.7

42.843.2

42.140.9

330430

92108449

1, 403640

2,576

54328, 252

7.907 06

42.87

4 311.46

254.8342.0251. 5

196.6

43.4

42.444.643.0

39.946.048.0

47.851.244.1

46.7

46.347.044.141.0

41.039.339.7

39.4

34.936.741.838.640.8

38.242.739.541.6

37.8

35.833.543.244.739.9

40.147.441.4

43.143.1

41.141.2

274349

88101387

* 2, 4001,213

650

2,026

42322, 395

9.158.10

.44

.685 191.79

261.8352. 4255.4

199.7

43.6

43.645.844.3

40.946.749.5

49.052.545.2

47.1

46.347.645.442.5

42.841.340.8

40.4

37.138.941.640.443.4

38.543.640.542.7

37.9

35.134.243.845.739.8

40.547.940.6

43.543.3

40.941.7

207269

6267

244

1,267682

1,517

31016,895

8.697.91

.45

.784 652.03

270.9366.2264.1

200.7

43.7

44.046.144.8

42.047.049.5

49.052.845.5

47.7

46.648.046.041.7

42.841.441.3

40.8

37.039.042.440.644.0

39.543.941.843.4

38.0

35.734.444.245.638.7

39.849.040.7

43.143.3

40.841.7

144172

5255

128

i 1, 8951,139

608

1,128

22211, 574

8.147.09

.43

.654.211.80

280.4382.8270.1

204.1

44.2

44.446.145.3

41.747.049.6

49.453.045.5

47.5

46.947.746.141.3

43.741.842.1

41.5

37.440.343.941.244.9

40.244.741.844.5

37.8

35.935.744.043.840. 5

40.849.940.7

43.344.0

41.041.8

147169

5962

193

I,154616

1,130

19311, 558

6.926.37

.46

.703.711.50

287.9391.6278.7

203.8

44.3

44.245.94.5.0

41.947.049.6

49.652.545.7

46.9

46.547.146.039.8

42.841.741.8

41.3

37.440.343.239.644.2

39.844.541.144.4

37.1

31.034.743.344.339.9

40.549.341.2

43.644.1

41.341.4

195225

90100450

1 1, 6781,384

659

1,228

22712,183

8.287.11

.52

.744.451.40

290.9399.8283.5

208.8

44.5

44.546.245.8

42.846.949.6

49.351.846.0

46.7

46.246.745.941.9

43.641.842.0

41.5

38.240.242.938.544.5

39.544.642.444.6

36.3

41.537.043.644.440. 6

40.549.741.2

43.143.7

41.141.6

210240

4248

170

1,315648

1,059

20910, 882

7.877.04

.50

.544.651.35

297.5410. 6291.2

211.8

44.7

44.746.446.1

43.247.1

'49.7

'49.552.045.7

'46.8

'46.246.9

'46.642.4

43.9'42 .1

42.3

41.6

'38.840.443.4

'39.544.9

39.845. 042.645.1

37.4

41.338.643.7

' 43.8'40.8

40.8' 49. 4

41.1

' 43. 543.8

41.141.7

260300

7275

230

1 1, 6021,280

718

945

18210, 750

8.327.69

.57

.525.361.24

304. 5421.0297.6

215. 3

44.9

45.0' 46.8'46.1

'43.5'47.0'49.8

'49.752.045.9

47.6

'47.3'47.7

47.043.1

44.4'42.7

42.4

41.7

' 38. 7' 40. 2'43.3' 40. 5

45.3

39.6'• 45. 4'43.5 |

45.1 !

38.1

41.2'36.9 i

43.946. 0

'41.2

40.848.9

'41.3

45.7'44.4

40.7' 4.1. 8

395445

200205675

1,154689

695

131' 7, 355

7.437.54

.53

. 645. 41

.96

' 309. 6' 430.4'301.7

217. 4

45.2

45.247.046.5

44.147.349.8

49.551.846.3

47.5

46.847.847.243.8

44.542.942.7

41.8

38.140.244.740.745.6

39.745.544.545.4

38.1

36.135.644.346.341.0

40.849.042.1

45.044.4

40.941.7

395450

620625

1,275

1 1,1981,222

708

610

119' 6, 382

7.186.57

.55

.454.81

.76

313.4437.0303. 5

222.2

' Revised. § Weekly average of number receiving benefits, based on an average of the weeks of unemployment compensated during weeks ended within the month.i Not comparable with data prior to July 1942, owing to change in active file definition (see note 1 on p. S-ll of the December 1942 Survey). The July 1942 figure is also

not comparable with figures for later months, as data for July were not completely revised to the new basis.tRates beginning January 1943 refer to all employees rather than to wage earners only and are therefore not strictly comparable with earlier data.fRevised series. For revision in the Department of Labor's series on average weekly hours in all manufacturing industries see note marked " t" on p. S-13. In

geearner pay rolls (or total weekly wages) in manufacturing industries have been completely revised see note marked " t " on p S-9; indexes for May 1943Indexes offRevised series. For revision in the Department of Labor's series on average weekly hours in all manufacturing industries see note marked t on p. S13. Indexes of

age-earner pay rolls (or total weekly wages) in manufacturing industries have been completely revised, see note marked " t " on p. S-9; indexes for May 1943 are nots yet available; June data will be published in an issue of the Weekly Supplement to the Survey. The series on placements by the U. S. Employment Service (under War

anpower Commission since December 1942; formerly under Social Security Board) has been revised to exclude agricultural placements which were excluded from the June943 figure since such placements are now m d l i ti ith th D t

as yMa

plement to the Survey. The series on placements by the U. S. Employment Service (under Warity Board) has been revised to exclude agricultural placements which were excluded from the June

g , p y in cooperation with the Department of Agriculture Extension Service.* New series. Data beginning January 1942 for average hours in durable goods and nondurable goods manufacturing industries are on p. S-10 of the March 1943 Survey;

data beginning 1939 for all series on average hours for the manufacturing and nonmanufacturing industries shown above will be published in a later issue.

issue of the WeManpower Commission since December 1942; formerly under Social Security Board) has1943 figure, since such placements are now made only in cooperation with the Departme

* New series. Data beginning January 1942 for average hours in durable goods and ndata beginning 1939 for all series on average hours f th m a f t i d m f



1943

June

1942


Octo-ber

Novem-ber

Decam-ber

1943

Janu-ary



PAY BOLLS—Continued

Wage-earner pay rolls, all manufacturing,unadjusted (IT. S. Dept. of Labor)f—Con.

Durable goods—Continued.Electrical machinery 1939=100..Machinery, except electrical do

Machinery and machine-shop products1939=100..

Automobiles _ doTransportation equipment, except auto-

mobiles 1939=100..Nonferrous metals and products doLumber and timber basic products... do

Sawmills doFurniture and finished lumber products

1939=100..Furniture _ do.__.

Stone, clay, and glass products doNondurable goods do

Textile-mill products and other fiber manu-factures. 1939=100..

Cotton manufactures, except small wares1939=100..

Silk and rayon goods doWoolen and worsted manufactures (ex-

cept dyeing and finishing)___ 1939=100..Apparel and other finished textile products

1939=100..Men's clothing doWomen's clothing do

Leather and leather products . . . .doBoots and shoes do

Food and kindred products doBaking doCanning and preserving doSlaughtering and meat packing do

Tobacco manufactures doPaper and allied products do

Paper and pulp ..doPrinting, publishing, and allied industries

1939=100..Chemicals and allied products do


Petroleum refining. _ _.doRubber products.. do

Rubber tires and inner tubes. doManufacturing, unadjusted, by States and cities:

State:California* 1940=100-.Delaware 1923-25=100 .Illinois 1935-39=100.Maryland 1929-31 = 100..Massachusetts! .1935-39=100New Jersey§ 1923-25=100 .New York 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.Cleveland doLos Angeles* .1940=100.Milwaukee ..1925-27=100New Yorkf 1935-39=100.Philadelphia _ .1923-25=100.Pittsburgh doSan Francisco* 1940=100.Wilmington ..1923-25=100..

Nonmanufacturing, unadjusted (U. S. Dept. ofLabor):

Mining: tAnthracite . 1939=100..Bituminous coal _ do..Metalliferous doQuarrying and nonmotallic. do

Crude petroleum and natural gas do. _Public utilities:!

Electric light and power..__ _do—Street railways and busses doTelephone and telegraph do_.

Ser vices: fDyeing and cleaning do_.Power laundries __do__Year-round hotels . . .do. .

Trade:Retail, totalf do..

Food* doGeneral merchandising! do

Wholesale! ___do__Water transportation*.. _ _ do..

503.2354.4266.3376.4282.1

"287." 7

190.2265.2

370.8263.9

522.8300.6228.7256.2215.5596.6360.4

r Revised.!Revised series.

.Index is being revised.

317.2337.9

335.2193.4

1, 585. 5253.0190.2158.9

161.3153.1167.6158.7

161.1

195.9128.2

186.9

132.9143. 692.3

148.3136.8139.7129.9123.5171.8132.0149.4152.8

110.2306.1221.0150.0134.7164.5151.1

310.1224.4200.0285.3216.6230.2212.0239.6

' 154.7206.4

288.1196.4286.2327.2222.7156.5

•"191.6165.4329.5

' 200.4

142.9201.3170.4169.2103.2

113.1128.6131.0

160.5138.6119.0

114. 5126.7121.4118.9180.0

325.7339.1

337.1202.5

1,753.2260.0189.4157.4

157.1149. 8163.2163.3

162.0

193.0126.2

200.6

135.2138.6101.2148.7136.9153.7135.2213.7175.4133.8144.1147.1

110.0317.2224.6154.0137.6176. 3166.8

339.5239.9201.2307.0223.9234. 3220.3251.5155.2206.0

305.1200.1295.1344.0229.2165.2198.2161.9379.7206.6

117.2161.6164.51.71.3102.3

112.9130.9131.8

149.0141.7118.9

112. 5127.7117.1119.3171.3

343.9352.6

352.1218.0

1,920.8268. 5199.1164.1

159.8154.3169.6169.5

166.3

202.2126.9

198.1

151.4146.4119.6146.3134.9161.6138.5266.2173.4144.3147.1149.7

110.2326.4221.6156.4139.9184.4172.9

376.5256.9210.3310.1229.4243.0229.8255.3160.3216.0

310.2206.7300.9367.4244.1184.3205.2168.4434.7244.6

123.0170.1168.6175.2102.3

112. 3134.9133.2

145.1140.5119.0

111.9126. S116.8119.8172.0

368. 6352.3

354.8225.2

2, 053.3273.3192.2158.4

158.1154.1168.4173.3

166.8

208.2126.5

196.3

147.4142.5115.8145.6134.9173.2140.7373.4173.0144.1147.0148.5

111.2338.5222.1160.5144.3189.9178.6

397.5270.8210.3322.3235.9255.4239.9261.2161.8212.3

320.6209.0306.0378.4247.0192.3212.1171.5481.9255.1

128.1175.3163.0175.4106.4

112.0134.7136. 5

147.1141.1121.3

114.4126.6125.2120. 6189. 5

382.7371.5

371.5235.1

2,116. 3282.7198.2163.0

168.2164.5178.9177.7

173.0

210.6130.8

198.2

157.0148.4127.1149.2134.5164.4143.5225.9176.8153.7158. 9158.9

116.3351.4230.6160.8145.7201.9190.0

403.7277.8220.4330.5244.5261.5248.4275.0168.2228.7

329.4218.4325.8402.5261.1198.4217.9177.0481.9271.3

123.4179.0163.8179.1105.1

110.7137.1134.3

153. 5143.2127.1

118.4128.1135. 4123.6203.3

402.8381. 5

381.9261.4

2, 275. 9292.2188.7152.8

165. 0158.2179.2180.3

175.4

212.8131.3

201.0

152. 7144.7123.1153.4137.4160.5144.0162.8181.3157.4163.5161.1

122.4. 365.3

235.8165.4150.9213.3205.3

421.0294.7223.7339.4248.0269.3252.8285.1172.4236. 5

336. 2223.0339.0426.3271.3200.7226.9181.2516.3288.9

125. 6177.7167.5172. 5104.3

108.9140.7134.9

147.1142.7128.0

121.6128.5145. 6125.8225. 0

415. 5392.9

394. 6255.1

2,348. 0303.2181. 9144.4

170.6163.9181.2186.4

180.8

217.7133.7

207.9

154.0145.7124.0159.5144.5165.4149.3138.2213.6159.6168.5163.6

126.5383.4240.8165.1151.5228.6219.7

430.3288.2233.1335.0257.4276.3261.1294.9175.0244.1

333.1231.9345. 2443.2277.2203.6230.8186.3521.5288.0

128.4183.7166.7160.6106.8

109.4145.7134.1

142.9144.6131. S

131. 5127.7181.7124.6225.0

427.4400.2

402.1277.9

2,406. 0305.8166.9130.9

165.9159.6178.5184.5

179.6

215.8134.4

207.5

155.9149.6125.0158.9

'145.2155. 6144.3115. 4202.9147.8167.6162.3

121.8391.2247.2162.8149.3234.6226.6

436.5292.8233.6357.1267.3281. 0264.5300.0176.6244.6

350.9232.8355.8454.9278.9208.0236.6189.0529.7295. 7

101.5178.6163.8151.0103.9

107.6147.3137.0

142.8147.6129.8

115.3125.7129,1122.3231.4

441.6410.0

413.4282.2

2, 486. 5308. 6173.7138.7

171.8165.6179.2186.9

181.1

217.2132.2

207.2

107.5159.2137.2157. 6143.1150.7141. 5112.8185.1138. 5171.3164.8

121.6400.9250.0164.9151. 3238.3228.9

454.5299.2244.8362.0265.9285. 8274.6308.1181.3252.6

355.6244.7373.0474.4292.3220.7243.7197.6549.9301.4

154.9196.2166.3150. 3106.9

106.7150.6137.5

143.8145. 4130.6

114.9126.4126.2124.3257. 8

453. 7417.7

421.5283.9

% 583. 3312.1179.4143.5

'174.9169.5181.9

' 190.7

182.4

217.4133.5

208.3

177.5168.5148.0158.1143.7151.3145.898.9

180.4143.3173.1165.6

' 122. 3409.7255.4

' 166. 8' 154.2

246.2239.7

466.1316.0249.5359.0271.8

285.8' 317.1

184.7256.8

354.5249.1' 389.2488297234.9248.0205.5560.4320.1

152.7202.1165.5150.2

' 107. 0

105.8150.7136.7

150.3145.2

'130. 4

115.7' 125. 3

128.0124.0271.9

454. 7422. 3

429.3286. 7

2, 692. 9318. 5186.2151. 4

177. 8171.5185. 3

'191.5

181.2

217.1133. 9

205.4

174.8' 169. 7

143.8155.9141.0150. 3143. 4114.1170.4146.5175.5167.2

'121.8422 0258.6173.9

' 162. 8248.1240. 2

486. 2330. 9255.7391.4274.7

288. 6320.1

' 186.5260.1

384.1254.6394.4512.0299.9235.5251.9207.1574.7

'336.8

149.5189.9167.5162.8

'109. 6

106.4152.0

' 139. 4

-•176.2150.7

' 132.1

119.0126.4133.0125.1288.0

458.9427.2

434.2297.1

2. 736. 7322. 0196.1160.4

178.7171.5187.7192. 5

180.7

216.0134.2

205. 0

164.3162.8131. 0153.0137.3158.5147.8117.0190.5144.3178.0170.3

123.1424.2262.3182.3170.5250.9243.9

' 495.0' 346.1

259.8' 376.4

278.0

284.9

188.1259.8

' 370. 2258.2

520.6296.4226.7

' 253.8'211 .0' 582. 5T

352. 6

126.4176.4170.2166.3111.5

106.4153.8143.2

178.1153.8134.8

117.7128.1128.7124.3307.7

I

' on p. S-9.Indexes of wage.earner payrolls (or total weekly wages) in manufacturing industries have been completely revised; see note marked , __. r_ _ ..Earlier data for the revised pay-roll index for New York City not shown in" the July 1942 Survey and subsequent issues, and for the Massachusetts index, shown on a revisedbasis beginning in the May 1943 Survey, will be published later. Indexes of pay rolls in nonmanufacturing industries have been revised to a 1939 base and, in some instances,adjusted to 1939 Census data; revised data beginning 1939 are shown on p. 31 of the June 1943 Survey.

*New series. Data beginning January 1935 for the indexes of employment and pay rolls for California and the Los Angeles and San Francisco Bay industrial areas willbe shown in a later issue; data beginning 1939 for the new series on employment and pay rolls for retail food establish ments and beginning 1940 for water transportation areshown on p. 31 of the June 1943 Survey.


Monthly statistics through December 1941, to-gether with explanatory notes and referencesto I he sources of the data, may be found in the1942 Supplement to the Survey

1943

June

1943

June July August Sep.tember

Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary


EMPLOYMENT CONDITIONS AND WAGES--Continued

WAGES

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

Durable goods doIron and steel and their products._do

Blast furnaces, steel works, and rollingmills dollars.

Electrical machinery __doMachinery, except electrical do

Machinery and machine-shop productsdollars.

Machine tools doAutomobiles .doTransportation equipment, except auto- I

mobiles dollars. _ IAircraft and parts (excluding engines)

dollars..Shipbuilding and boatbuilding. _ do

Nonferrous metals and products doLumber and timber basic products.do

Sawmills§ doFurniture and finished lumber products

dollars. _Furniture ^ do

Stone, clay, and glass products doNondurable goods do

Textile-mill products and other fibermanufactures .dollars. _

Cotton manufactures, except smallwares dollars..

Silk and rayon goods do . . . .Woolen and worsted manufactures (ex-

cept dyeing and finishing) dollars..Apparel and other finished textile prod-

ucts _• dollars..Men's clothing _____doWomen's clothingJ do

Leather and leather products doBoots and shoes do

Food and kindred products. . . doBaking doCanning and preserving. doSlaughtering and meat packing._do

Tobacco manufactures doPaper and allied products do

Paper and pulp. doPrinting, publishing, and allied indus-

tries dollars..Chemicals and allied products do

Chemicals— doProducts of petroleum and coal do

Petroleum refining doRubber products . . . .do

Rubber tires and inner tubes doFactory average hourly earnings:

Natl. Ind. Con. Bd. (25 industries) do . - . .U. S. Dept. of Labor, all manufacturingfdo

Durable goods doIron and steel and their products...do

Blast furnaces, steel works, and rollingmills dollars..

Electrical machinery doMachinery, except electrical do

Machinery and machine-shop productsdollars..

Machine tools doAutomobiles. doTransportation equipment, except auto-

mobiles dollars..Aircraft and parts (excluding engines)

dollars. _Shipbuilding and boatbuilding...do

Nonferrous metals and products doLumber and timber basic products

dollars. _Sawmills§ do

Furniture and finished lumber productsdollars..

Furniture doStone, clay, and glass products do

Nondurable goods doTextile-mill products and other fiber

manufactures dollarsCotton manufactures, except small j

wares dollars.. ISilk and rayon goods doWoolen and worsted manufactures (ex-

cept dyeing and finishing)._ .dollars__Apparel and other finished textile prod-

ucts _ dollars..Men's clothing doWomen's clothing}: do

39.5236. 2542.2640.42

40.3441.8147. 71

46. 4452.4751.55

50.80 !

46. 6752. 7340.3227.0026. 26

27.1027.9130. 9628. 65

23.84

21. 6323.24

29.43

21. 5624.06

' 22. 3525. 8324.4830.1731.3422.1932.8622.3730.1333.14

36.2136.7241.2140.0542.1838.2244.42

.917

.845

.935

.927

1.008.901.960

.944,974

1.161

1.065

.9931.088.904

.657

.646

.653

.673

.772

.718

.593

.528

.572

.729

.609

.682'.615

39.8036.4342. 5140.16

41.6741. 7247. 04

46. 0951. 4150.98

51. 86

46. 0151.1140.9426.9826.14

26.9527.8430. 5428.94

24.02

21.3222.98

31.59

21.7623.92

' 24. 3725.9124.7130.1731.4324.1332.6122.4330.1933.09

36.0637.3242.0140.7343.0039.0546.08

.928

.856

.949

.934

1.013.907

.949

.9751.164

1.094

.9911.138.920

.658

.647

.651

.673

.779

.725

.602

.528

.577

.769

.620

.683'.690

40.8737.3843.8441.56

41.9942.3248.26

47.0452.1252.72

53.17

46.2456. 8241.8028. 3027.33

27.3728.9531.5229.36

24.82

22.3723.62

31.43

22.9524.7026.3826.2324.8929.6531.6923.1432.4023.4231.1934.18

36. 0637.7641.7341.6343. 5839.4746.10

.940

.870

.969

.951

1.038.912.977

.963

.9871.169

1.124

.9931.193.933

.677

.663

.661

.682

.786

.730

.616

.549

.590

.774

.634

.697'.707

41.7937.8044.4542.14

43.2143. 6547.71

46. 9550.7252.26

54.22 |

46.55 |58.60 i42.16 |27.96 !27.22

27.6828.9031.4029.53

24.98

23.1224.69

30.40

2^.5124.1825. 6725.7625.9329.8931.7224.8832.6223.0431.2934.10

36.6737.6241. 7042.9845.1939.3145.80

.892

.997

1.077.949

.979

.9901.185

1.161

1.0111.247.956

.682

.671

.675

.700

.799

.743

.634

.575

.611

.779

.645

.701'.724

42.1038.8945. 3143.45

43. 9343. 7349.34

42.5039.7846.2744. 20

45. 5744.2449.64

42. 9840. 2746.2844. 67

45.1544.3250.15

48. 3052.3252.97

53.34

45.7557.5443.4329.5228. 69

29.3330.5633.5230.66

25.84

23. 3925.31

31.13

24.1725.5628.1727.5826.0330.9731.9025.3434.0224.3233.4636.59

37.5137.7443.3843.8046.5640.3946.55

.958

.893

.990

.979

1, 073.936.997

.983

.9981.172

1.132

.9911.208.956

.694

.684

.685

.708

.812

.751

.639

.576

.615

.783

.652

.702'.747

48. 6553.1854. 65

55.49

46. 5360.6744.1523.5827.44

29.3430. 3533.5331. 25

26.17

23.6225.46

31.53

23.9725.6627.4827.7925.9731.8432.3225.5334.5224.8234.0137.18

38.5638.1044.1845.6148.8041.4848.45

.966

.9051.005.984

1.081.942

1.003

.9861.0071.202

1.163

.9971.264.959

.685

.670

.685

.705

.810

.756

.642

.577

.619

.789

.648

.705'.734

149.2853. 7354. 51

54.25

47.0858.0944.9928.0426.46

30.1131.4033. 8632.08

26.73

23.9525.88

32.62

24.2725.7027.6028.9827.3733.4133.4625.9438.4625.2634.6237.83

39.4039.2544.8645. 6548.9142.9949.93

.970

.9071.004.986

1.086.943

1.011

.9911.0131.198

1.142

1.0021.220.976

.679

.660

.689

.708

.810

.762

.644

.579

.619

.789

.649

.707'.733

43.5640. 6246.68 |44.91 |

46.16 I44.70 j50.69

49.8453. 2555. 85

53.65

46.9457.2445. 3127.1025. 38

29.7930.7434.1532.10

24.2226.30

32.84

24.50• 26. 40' 28. 75

29.0627.9833.2233.3526.1436.6624.2734.2137.19

38.7339.4346.1545.4248.3843.1150.53

.979

.9191.017

1.103.951

1.022

1.0031.0141.222

1.144

1.0101.210.985

.681

.657

.711

.819

.768

.652

.582

.639

.789

.655

.714'.758

43.8541.1247.1245. 75

46. 5744.4651.09

50.0953.1655.71

53.80

47.1257.1645.2628.7927.43

30. 5631.6634.3632.47

26.93 27.14

24.1926.07

32.82

25.7127.79

'31.1028.9427.4533.0833.5526.7934.9123.2234. 7537.93

38.3539.6946.2346.3049.0843.5750.95

.9241.020

1.094.948

1.030

1.0141.0261.211

1.0191.224

.687

.666

.706

.720

.822

.773

.654

.584

.627

.795

.673

.721

44.30 i41.75 I47.79 |46.47 '

47.24' 44. 93'51.59

50.3754.1055. 62

' 54. 48

' 47.2958.4646.1329.6828.31

31.3932.22

'34.8633.08

'27 36

' 24. 3626.26

33.15

' 27.1629.03

'33.65' 29.49

28.0733.7234.2026.4236.04

' 24. 2135.1138.41

39.0840.1447.15' 46. 4849.3644.7452.68

.987

.9341.0301.008

1.099'.9541.038

1.0211.0401.217

•• 1.0251.246'.990

.700

.681

.715

.733

.828

.782

'.657

.586

.630

.799

.700

.754'.834

45. 0242.4848. 6346. 98

47.95 I45.1252.14

51. 0154.6955.77

55.88 j

'49.69' 59. 50 j46. 9130. 82

' 29. 75

32.0632.86

r 35. 5733. 50

' 27. 52

24. 5426.75

33.39

r 27. 2229.5833.31

' 29. 69' 28.15' 34.1234.4227.2336. 40

' 25.11' 35. 7938.87

39.20r 40.8647. 52

' 48. 33' 51. 58' 45. 0152.54

'.90S.9441. 0391.019

1.110'.9601.047

1.0301. 0511.215

' 1. 0521.246

.715

.699

.722

.740

.833

.790

-.660

.588

.635

.801

'.703\ 757'.837

45.9043. 0849. 3547. 76

49. 1245.6052.54

51. 3454.7657.00

56. 29

49. 6760. 0447. 7732. 2431.51

32.6633.1436. 2133.99

27.76

24. 7827.12

33. 56

26. 3729.0931.4030.0328.2435.6335.4027.4541.0925.6036.2139.58

39.7841.3648. 3549.9353. 4245.6353.15

1.010.9531.0501.027

1.120.9641. 055

1.0371.0571.231

1.185

1.0631.2551.012

.736

.725

.734

. 752

.844

.796

.664

.591

.640

.804

.692

.759

.807

' Revised. § Revisions in 1942 monthly averages shown in the April 1943 Survey: Weekly earnings, $25.58; hourly earnings, $0,635.^Revisions beginning July 1942 resulted in part from a change in the reporting sample and figures are not strictly comparable with earlier data (weekly earnings were

affected only slightly); revised figures for May and July 1942 based on the former sample, comparable with revised June 1942 figures above and data prior to May 1942 previously published, are as follows: Weekly earnings—May, $24.68; July, $24.14; hourly earnings—May, $0,640; July, $0,652.

fRevised series. The Department of Labor's series on hourly earnings and hours per week (p. S-ll) in manufacturing industries have been revised and, except as indicated,differ from those published prior to the March 1943 Survey owing to the inclusion of additional data for industries not heretofore covered and extensive corrections, on thebasis of Census and Social Security data, in the employment estimates of the Bureau which are used for weighting purposes. The series of average weekly earnings for allmanufacturing, durable goods, nondurable goods, and the industry group averages are now computed by taking the product of the averages of hourly earnings and hoursworked per week. The industry classifications have been revised for all series to agree with definitions of the 1939 Census of Manufactures and the Standard Industrial Classi-fication Manual; there were no changes, however, in the computations for the following industries and hourly and weekly earnings published currently for these series arecomparable with data in earlier monthly issues and in the 1942 Supplement: Machine tools; aircraft and parts (excluding engines); ship building and boat building; sawmills;furniture; boots and shoes; baking; slaughtering and meat packing; paper and pulp; chemicals; petroleum refining; rubber tires and inner tubes. Data for years prior to 1942for the revised series will be published in a subsequent issue; figures for the early months of 1942 are in the March 1943 Survey.

S-14 SUEVEY OF CURKENT BUSINESS August 1943

Monthly statistics through December 1941, together with explanatory notes and referenceto the sources of the data, may be found in the1942 Supplement to the Survey

1943

June

1942


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary



WAGES—Continued

Factory average hourly earnings—Continued.U. S. Dept. of Labor, all mfg.f—Continued.

Nondurable goods—Continued.Leather and leather products dollars._

Boots and shoes doFood and kindred products do

Baking doCanning and preserving doSlaughtering and meat packing..do

To bacco manufactures doPaper and allied products .do

Paper and pulp doPrinting, publishing, and allied indus-

tries dollars..Chemicals and allied products do


Petroleum refining doRubber products do

Rubber tires and inner tubes doFactory average weekly earnings, by States:

Delaware.... 1923-25 = 100..Illinois. 1935-39 = 100..Massachusettsf—- 1935-39=100..New JerseyJ 1923-25 = 100..New York 1935-39=100..Pennsylvania 1923-25=100..Wisconsin 1925-27=100..

Nonmanufacturing industries, average hourlyearnings (U. S. Dept. of Labor):*

Building construction dollars._Mining:

Anthracite doBituminous coal .doMetalliferous.. doQuarrying and nonmetallic _.do

Crude petroleum and natural gas doPublic utilities:

Electric light and power doStreet railways and busses doTelephone and telegraph .do

Services:Dyeing and cleaning... .doPower laundries do

Trade:Retail doWholesale- d o . . . .

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

Common labor dol. per hour._.Skilled labor d o . . . .

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

Railway wages (avg., class I)_ _dol. per hourRoad-building wages, common labor:

United States, average... doEast North Central . .doEast South Central doMiddle Atlantic do .—Mountain.. doNew England. ___doPacific .doSouth Atlantic .__ _ do . .West North Central.. . .doWest South Central do

PUBLIC ASSISTANCE

Total public assistance and earnings of personsemployed under Federal work programs §

mil. of dol..Old-age assistance, and aid to dependent

children and the blind, totaL.mil. of doL.Old-age assistance do.

General relief do.

172.4176.8192.6

180.5183.1178.3

.8631.61

71.84

.71

.91

.57

.91,85.83

1.09.59.75.57

0.678.652.727.731.599.806.581.742.797

.953

.858

.9901.0271.102.921

1.103

140.2148.9161.7180.9152.1155.4154.9

1.136

.9821.060.882.697.988

.968

.809

.824

.572

.481

.613

.850

.7961.55

.826

.56

.71

.42

.61

.68

.64

.92

.46

.57

.43

136

644914

0.680.654.720.738.601.801.581.751.809

.949

.8721.0041.0391.114.932

1.107

146.3148.4166.6184.0154.8155.4152.1

1.157

.9841.053.891.709.995

.976

.818

.818

.572

.482

.616

.862

.8031.56

r 56. 85.825

.59

.75

.41

.69

.71

.69

.95

.48

.60

.41

120

655014

0.683.657.718.732.611.807.593.757.814

.949

.8761.0011.0541.130.933

1.105

145.0150.9169.1184.7157.0159.8157.8

1.174

.9921.061.909.7271.020

.993

.829

.819

.580

.487

.619

.870

.8231.59

.828

.61

.76

.77

.65

.97

.50

.60

.46

110

655013

0.702.677.715.733.612.813.597.767.825

.960

.8811.0141.0881.165.9451.114

150.9151.3172.9190.1160.3161.9153.1

1.201

1.065.906.7381.037

1.005.836.829

.496

.625

.878

.8231.59

.839

.63

.77

.46

.64

.74

.661.08.50.66.44

105

655013

0.708.683.744.740.664.821.602.771.828

.973

.8661.0191.0811.160.9471.115

157.4156.7176.2194.5163.3166.9162.0

1.070.913.744

1.039

1.004.840.833

.601

.502

.627

.879

.8261.59

59.25.832

.48

.72

.82

.701.04.52.72.47

104

665113

0.713.683.751.749.674.823.611.772.831

.976

.8671.0271.0931.174.955

1.125

159.4159.8176.7198.8164.7169.7164.9

1.209

.9931.073.926.750

1.066

1.027.847.835

.608

.510

.631

.893

.8321.60

.850

.66. 83

.47

.75

.87

.751.06.54.77.46

0.719.691.761.758.676.839.613.771.829

.8781.0321.0921.176.966

1.130

153.6163.3180.2202.2167.6171.6168.2

1.230

1.0031.085.931.757

1.057

1.023.856.835

.601

.513

.614

.8321.60

.845

.67

.88

.46

.82

.88

.801.02.56

0.721.694.769.764.681.830.613.774.828

.973

.8861.0401.1051.182.971

1.139

157.6163.2184.9204.2169.6172.3168.6

1.240

1.0071.085.941.759

1.059

1.026.852.840

.615

.519

.645

.903

.8321.61

62.43.850

.63

.89

.47

.84

.95

.811.03.52.66.49

0.720.691.771.768.684.828.603.781.836

.971

.8901.0441.0921.162.977

1.135

157.9168.0183.6204.8173.4175.1172.6

1.240

1.0641.113.947.755

1.074

1.032.854.846

.617

.517

.650

.911

.8321.61

.864

.61

.91

.49

.821.03.52.75.49

0.729.702.777.775.681.836.613.782

.982

.8921.047

r 1. 0911.161.992

1.159

164.6170.1186.9

177.9177.6174.7

' 1. 242

1.0601.119

1.023.857.845

'.619.523

.8421.61

.842

.87

.52

.84

.90

.871.02.52.71.50

0.739

.787

.706

.848'.620'.790.842

.990

.9001.051

r 1. Ill1.183'.9981.162

168.0173.5189.1

179.9180.1177.1

1.235

1.0541.128

.962' . 7 7 61.069

1.034r .870' . 8 5 0

'•.641' . 5 3 6 |

' . 6 5 7 |.923 !

0.747.717.797.793.697.871.629.794.845

1.002.909

1.0511.1221.1961.0051.167

' 172. 2175.0190.4

"~179."6' 182.8

176.7

1.240

1.0301.119

.984

.7811.097

1.051.870.855

.649

.545

.934

.8581.61

67.21.843

.64

.90

.57

.88

.85

.901.04.54.74.52

83

675311

.8631.61

.848

.68

.88

.58

.95

.92

.851.05

.57

.79

.54

79

675310

FINANCE

BANKING

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

Held bv accepting banks, total doOwn bills. do . . .Bills bought do

Held by others* doCommercial paper outstanding do

140102624038

143

163122784441

315

156119774238

305

139108713731

297

12397643326

282

11994633125

271

11690612926

261

11893603425

230

12095603524

220

127102643825

209

130101623929

201

12899613829

179

136105654031

160

' Revised. * Farm wages as of June 1 (data now collected for selected months between quarterly reports); figure for July 1, $76.00.•None held by Federal Reserve banks. t Data are being revised.1 Rates as of July 1: Construction—common labor, $0,863; skilled labor, $1.62.§Includes earnings of persons employed under Federal emergency work programs shown separately in the April 1943 and earlier issues; for the most part, these programs

have been liquidated or are in liquidation. The series on earnings on regular Federal construction projects formerly shown along with the public assistance data (thoughnot included in the total) has been dropped from the Survey; this series was originally included because of the interrelation of employment on emergency project? and on regu-lar Federal work and construction projects, which were greatly expanded in depression years, and to provide a complete record of Federal work programs. In recent years,however, the regular Federal projects have largely represented war construction; the data were in large part duplicated in employment series shown elsewhere.

t Revised series. For an explanation of the revisions in the U. S. Department of Labor's series on hourly earnings in manufacturing industries, see note marked " t" onp. S-13. The index of weekly earnings in Massachusetts has been revised to a new base; earlier data will be shown later.

*New series. Data beginning 1939 for the Department of Labor's series of hourly earnings in nonmanufacturing industries will be published later. Data for building con-struction, the mining industries, dyeing and cleaning plants, and power laundries relate towage earners only; for crude petroleum and natural gas, the clerical field force isincluded: for the public utilities, all employees except corporation officers and executives are included; and for the trade groups, all employees except corporation officers,executives, ar:d other employees whose duties are mainly supervisory.



1943

June

1942


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary


FINANCE—Continued

BANKING—Continued

Agricultural loans outstanding of agenciessupervised by the Farm Credit Adm.:

Total, excl. joint-stock land bks mil. ofdol.Farm mortgage loans, total do

Federal land banks _..doLand Bank Commissioner do

Loans to cooperatives, total doBanks for cooperatives, including central

bank ..mil. of dohAgr. 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 forcooperativescf- mil. ofdol

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

Joint-stock land banks, in liquidation..doBank debits, total (141 centers) do

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

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

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 . percent-

Federal 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. ofdol..

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. Gov't direct obligations, total..doBills _ .do. . . .Certificates doBonds doNotes ...do

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

Other securities doLoans, total do

Commerc'l, indust'l, and agricult'lf__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

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) do. . . .Federal land bank loans doFederal intermediate credit bank loans.doOpen market rates, New York City:

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.:Taxable* percent..

Savings deposits:Savings banks in New York State:

Amount due depositors mil. of doL.U. S. Postal Savings:

Balance to credit of depositors doBalance on deposits in banks do

58, 02523, 59534, 430

29, 5997,576

57,20220, 58220, 22429, 59914,02212, 0851,210

13, 87273.8

32, 289

32, 5361, 8525,6525, 688

5,530119

8,71636, 35831,4144,8606,97115, 7143,869

1,8813,0639, 4855,5421,014

4241,158

281, 319

2.702.983.381.004.001.50

.44

.691.25

1.00.374

1.32

5,813

1,57612

2,8642,2741,706568115

10113

475

260472484

1294727

45, 68617, 39428, 292

24, 6722,775

32,64520,83020, 56624, 67213,95712, 3052,3629,37689.3

25,502

25, 3431,8031,4425,112

4,955137

9,09021,64216,2001,4471,47110,3832,899

2,0323,41010,7406,810519

3931,236

361,746

2.072.563.341.004.001.50

.44

.691.25

1.00.363

1.15

5,422

1,31624

2,8462,2521,692560117

10412

477

261472495

1304626

45, 61517,11028, 505

25,1393,245

43,15320,80220, 54625,13914,15912,4922,1309,72187.1

26,670

26,2361,8111,7825,115

4,975120

8,44422,81617,3521/9211,45511,1182,858

2,0353,42910,6966,768569

4071,230

291,693

1.004.001.50

.44

.691.25

1.00.368

1.20

5,411

1,32921

2,8182,2321,679553117

10412

469

255472435

1284626

44,89817,05127,847

25,2983,565

73,42620,80320,57525, 29813,95212,3382,14310,15786.3

27,217

26,8181,8061,5115,158

3811,230

261,657

1.004.001.50

.44

.691.25

1.00.370

1.25

5,427

1,34420

2,7762,2071,663

544126

11212

443

24943

2255

12446

12548,12318, 59329, 530

25, 7543,774

83,567

20,80820, 57625, 75413, 66011, 5921,690

10, 65885.6

27,424

27,3441,9092,0185,285

5,019115

8,68124,07518,4932,2452,267

11,2282,753

2,0953,487

10,3826,595

493

5,038121

8,52725, 59319, 9482,3373,029

11,2573,325

2,1063,539

10,3616,552

526

3811,221

651,616

2.282.663.251.004.001.50

.44

.691.25

1.00.370

1.27

5,449

1,35819

2,7332,1791,645

534145

13013

409

24639

2025

11845

12449, 95118, 32331, 627

26,9534,959

114,667

20,81320, 56926,95314,31312, 7352,644

11, 22081.5

28,639

28,3451,9472,6965,215

5,087102

8,89827,22921,8792,8112,94511,7254,398

1,9073,44310, 3206,581529

3691,217

461,578

1.004.001.50

.44

.691.25

1.00.372

1.28

5,459

1,37718

2,6962,1481,625523155

14013

392

253381905

1144523

46, 05617,01629,040

27, 7485,714

7"5,39920,79920, 57327,74814, 53413, 2082,90911,75679.1

28,852

28,7331,8673,0925,228

5,102100

9,45428,09222,8743,5703,42911,6344,241

1,9343,28410,2956,440700

3891,207

221,537

1.004.001.50

.44

.691.25

1.00.371

1.28

5,492

1,39617

2.6592,1151,603512159

14513

384

273391854

1134421

59, 48323, 92135, 562

29,0196,679

66,189

20, 90820, 55429,01915,19413,1171,98812,19376.3

28,257

28,7091,7596,7575,256

5,130100

9,14131,14825,8983,7864,95812,9854,169

1,9373,31310,3216, 304850

3821,199

531,533

2.092.633.261.004.001.50

.44

.691.25

1.00.363

1.34

5,570

1,41716

2,6082,0801,579501146

13212

382

265381853

1134420

50,14019,87730, 263

28, 5566,339

145,96920, 93120, 52028, 55614,80513, 6302,38712, 26577.3

29,743

29,4341,8885,2455,408

5,268112

9,19731,91826,7404,4765,05913,1174,088

1,9083,2709,7906,131637

3581,184

461,434

1.004.001.50

.44

.691.25

1.00.367

1.29

5,594

1,44514

2,5902,0571,564494135

12112

398

267391973

1174320

47,64019,63528,005

28,5156,296

165,87120,85920,47628, 51514, 30813,0671,925

12,62777.4

31,305

31,1621,8582,9645,467

5,333105

9,50931,95326,7384,2445.00113,3944,099

1,9193,2969,5175,963585

3421,176

571,394

1.004.001.50

.44

.691.25

1.00.372

1.24

5,622

1,46814

2,5822,0231,540483124

11111

434

27540

217141214318

57,08022,37334, 707

28,3476,191

135,919

20,78520,41328, 34713,98112,7591,518

12,75877.7

31,848

31,8151,9132,266'5,479

5,36189

9,19531,93526,7663,7554,99313,8214,197

1,9403,2299,4565,912617

3441,162

541,367

2.362.763.241.004.001.50

.44

.691.25

1.00.373

1.33

5,663

1,49313

2,5851,9961,520475119

10611

470

27639233321244317

64, 70727,17437, 533

28, 9826, 846

136,45520, 65620, 30328, 98214,13112, 2042,31513, 12875.8

30, 098

30,1121,8908,0445, 527

5,381115

9,14835,13529, 9174,8426, 53014, 3584, 187

1,9923,22610, 6375, 8501, 652

5041, 161

831,387

1.004.001.50

.44

.691.25

1.00. 373

1.39

5, 677

1, 51712

2, 5821, 9701, 502468114

10211

27939

245471244316

56, 03123, 01632,115

28, 5486,647

316,22220, 61420, 26128, 54813, 45912,0311,728

13, 53976.4

31, 386

31, 3951,838

r 7, 981r 5, 633

r 5. 480'1218, 87937, 394 ,32, 4675,6396, 88315. 7574,188

1, 8503,0779,7885,6621,046

4911,150

941,345

1.004.001.50

.44

.691.25

1.00.373

5,726

r 1, 546r 12

r Revised1 Amount estimated for 1 bank.c?To avoid duplication these loans are excluded from the totals.§For bond yields see p. S-20. t Includes open market paper no longer reported separately."New series. Earlier data for the series on taxable Treasury notes appear on p. S-14 of the April 1942 Survey; there were no tax-exempt notes outstanding within the

maturity range after Mar. 15,1942.



1943

June

1942

JuneI

**y A^ust l e x ^Sep-

bOcto- Novem- Decem-

ber ber

1943Janu-

aryFebru-

ary March April May

FINANCE—Continued

i

CONSUMER SHORT-TERM CREDIT j

Total consumer short-term debt, end of month* imil. of dol_ _ 1

Instalment debt:Sale debt, total* do..

Automobile dealers* doDepartment stores and mail order

houses* mil. of doL.Furniture stores* doHousehold appliance stores* doJewelry stores* . doAllother* do

Cash loan debt, total* doCommercial banks, debt* doCredit unions:

Debt§ .do-. . .Loans made doRepayments? .do

Industrial banking companies:Debt doLoans made doRepayments .do

Personal finance companies:Debt doLoans made. __ doRepayments _..do

Repair and modernization debt*...doMiscellaneous debt* _ _._.do

Charge account sale debt* doOpen credit cash debt* do. . . .Service debt* do

Indexes of total consumer short-term debt, endof month:*

Unadjusted __ ..1935-39=100..Adjusted do

INDUSTRIAL AND COMMERCIALFAILURES

Grand total number..Commercial service, total .doConstruction, total doManufacturing and mining, total. do

Mining (coal, oil, miscellaneous) doChemicals and allied products... doFood and kindred products .doIron and steel 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

Liabilities, grand total thous. of dol..Commercial service, total doConstruction, total doManufacturing and mining, total do

Mining (coal, oil, miscellaneous) doChemicals and allied products doFood and kindred products ..doIron and steel and products „ doLeather and leather products do..--Lumber and products doMachinery doPaper, printing, and publishing doStone, clay, and glass products. _do—_Textile-mill products and apparel doTransportation equipment doMiscellaneous do

Retail trade, total _doWholesale trade, total.. ...do

LIFE INSURANCE

Association of Life Insurance Presidents:Assets, admitted, totalt ...mil. ofdol.-

Mortgage loans, total ..doFarm doOther _._ do

Real-estate holdings doPolicy loans and premium notes doBonds and stocks held (book value), total

mil. ofdol.Gov't. (domestic and foreign), total.do

U. S. Government do..Public utility do. . .Railroad _____ .__ do. . .Other __ _._. do

Cash _. _____ d o -Other admitted assets.... do.__

11819

1743535

3688179

265313339

225226271424

14715

6,0761,600

5771,441

4025

3965071

341203

761525

17425

2,334124

7,513 7,007 i 6,719 | 6,557

2,4741,120

382512

' 21879213

1,853546

2.2471, 004

300475

••20171196

1,789521

1792025

2613643

4936879

'27698

1,4301,125

631

125125

8044867

13514

2356

181118

723

217

48668

9,906673945

3,327222118632

9963

829300403124180

78279

3,7521,209

27, 4625,164

6854,4791,4102,176

17, 4318,4536,5924,3962,6301,952

712569

1731824

2533442

4816375

26497

1,2251.112

634

116118

7645263

12055

19

115

205

241

14465

648,548

915584

2,07885

177265161

18191156224129

1773,9501,021

27, 5985,194688

4,5061,4002,158

17,4158,4436,5874,4052,6231,944876555

2,032874

277449183 '67182

1.716491

1661623

2463340

466607525295

1,2321,102637

112113

47661195523541081252022040561

6,781538520

2,2492373342176502071633415326222384

2,475

27, 7255,212687

4,5251,3922,144

17, 843

7,0934,4092,6161,930574560

1,862769

26142816963172

1,642460

1601622

2363141

452607424094

1.3201,095638

109109

556275477545221051151501335543

5,473268646

1,661519289017292171311101002800

1402,276622

27, 9095,220685

4,5351,3822,129

17,9058,9087,1324,4442,5971,956690583

6,

1,

1,

403

704664

25340815461164551421

6,

1,

1,

169

571573

24739214161157483393

6,156

1,495482

25439113078160

1,428370

1521422

2223044

437597422792

1,4191,088641

106106

6734061102071713971332041840565

7,181525756

2,3740

1463527218169580125628170195

2,660866

28,0835, 225680

4,5451,3702,110

17,9048,9387,2044,4342,5811, 951868604

1451421

2112536

428596821591

1,3861,085644

102102

5852763984510521821631621535245

5,245267717

1,8231986417629749185121326246717164

2,009429

28, 2365,230675

4,5551, 3562,092

17,8828,9297,1964, 4322,5661,9551,074602

1411822

2023140

424828620091

1,5131,072648

10298

5062247862311431141241931030744

6,950526

1,1891,997

712195120402722887749216525196

2,392846

28, 3945,224667

4,5571, 3082,068

18, 6419,7568,0604,4432, 5171,925537616

' 5, 702

' 1,314404

359116'64143

1,346345

1321120

1932534

403456618489

1,3331,058651

4582853792414211151411627

26731

5,515396698

2,24920634

46910552139

425242115

28, 5725,223661

4,5621,3022,045

18, 6729,7978,0894,4382,5151,922716614

' 5, 490

' 1,190351

21033810357132

1, 275319

1261319

1852634

387506617088

1,3331,038654

42228386732923

21025534

4,163331379

1,342694419513297128269107457954123

1,782329

28,7575,213651

4,5621,2862,024

18, 7139,8328,1634,4662,5081,907870651

' 5, 351

' 1,071287

19632291

'51124

1, 252

5, 241

1, 020200

r 19031981

' 50120

1, 206312

1272221

1843839

387868615587

1, 3431,031654

8990

410234179248411271041611023235

7,282305903

4,144100521699720368

2,44116576162244250

1,540390

28,9995,203646

4,5571,2622,003

18,4909,5757,9334,4652,5251,9251,370671

299

122ii

' 21

1793136

378627114187

1,3311.029655

878S

362285461221200891121005

19524

3, 523579597

1,105222019200

11728916950150096

1, 0312J1

29, 1>8?. 201651

4, 5501,2381,982

19, 74010, 8339,2224, 4672,5281,912394633

5, 075

9552-35

1783087248111

1. 160290

' 11814

'18

1742934

366587012785

1,2751,027658

8484

2811935482

533021

114818

15623

2,550393267826286690450

10615

2189576879

756308

29, 3405.201653

4, 5481,2181,962

19, 80210,899

9, 2584,4612,5231,919

495662

' Revised.J36 companies having 82 percent of the total assets of all United States legal reserve companies.§Revisions in 1941 data for credit unions are shown on p. S-15 of the January 1943 Survey.•New series. Earlier figures and a description of the data appear on pp. 9-25 of the November 1942 Survey; subsequent revisions in 1941 data for total short-term debt

(dollar figures and indexes), total cash loan debt, and commercial banks are shown on p. S-15 of the February 1943 Survey. There have been additional revisions in the 1941and early 1942 figures for the series revised in the July 1943 Survey; revisions, which in most cases are minor, are available on request.



1943

June

1942


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary


FINANCE—Continued

70071385243

746, 604

484, 017297, 64324, 51618, 61065,817188, 700

LIFE INSURANCE-ContinuedAssociation of Life Insurance Presidents—Con.

Insurance written:®Policies and certificates, total

thousands..Group . do....Industrial doOrdinary do

Value, totalf thous. of doL.Group doIndustrial ...doOrdinary! do

Premium collections, total® doAnnuities do.. . .Group doIndustrial doOrdinary do

Institute of Life Insurance:*Payments to policyholders and beneficiaries,

total .thous. of doL.Death claim payments doMatured endowments doDisability payments doAnnuity payments doDividends doSurrender values, premium notes, etc.do

Life Insurance Sales Research Bureau:Insurance written, ordinary, total do

New England doMiddle Atlantic doEast North Central do.. .West North Central do_...South Atlantic doEast South Central doWest South Central doMountain doPacific do

Lapse rates 1925-26=100...MONETARY STATISTICS

Foreign exchange rates:Argentina dol. per paper peso.Brazil, official d"- _.dol. per cruzeiro.British India dol. per rupee..Canada, free rate§ dol. per Canadian dol.Colombia dol. per peso.Mexico doUnited Kingdom, official rate§ dol. per £..

Gold:Monetary stock, TJ. S mil. of dol.Net release from earmark* thous. of doL.Production:

Reported monthly, total J doAfrica doCanada? do....United States! do

Currency in circulation, total mil. of dol..Silver:

Price at New York- dol. per fine oz_.Production:

Canada thous. of fine oz_.Unitod States do....

Stocks, refinery, U. S., end of month___doBUSINESS INCORPORATIONS

New incorporations (4 States) number. - 1,008PROFITS AND DIVIDENDS

Industrial corporations (Federal Reserve):Net profits, total (629 cos.) mil. of doL.

Iron and steel (47 cos.). doMachinery (69 cos.) doAutomobiles (15 cos.) „ doOther transportation equip. (68 cos.)--doNonferrous metals and prod. (77 cos.)_doOther durable goods (75 cos.) doFoods, beverages, and tobacco (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

Electric power companies, net income (28 cos.)(Federal Reserve)* mil. of doL-

Railways, class I, net income (I. C. C.) doTelphones, net operating income (Federal

Communications Commission) __«mil. of dol..I

632, 59745,838162, 344138,91463, 24363, 31327, 62046, 79620,11664, 413

.061

.301

.901

.573

.2064.035

22, 388-51,684

17,421

.448

71087425198

662,506161, 061129,863371, 582277,49325, 65415, 69864, 014172,127

203, 88280, 70222, 4788,82314,17337, 22140, 485

463, 32537,029117, 577106, 79647, 66044, 40719,18232, 24712, 28846,139

80

.061

.301

.900

.570

.2064.035

22,737-14, 792

• 79, 23546,665' 14, 97910, 50712,383

.351

1,5374, 5282,685

889

3645235

14832183227352734

174

23136

25199.2

63066366199

635,789151, 344112,917371, 528278, 01130,99916, 29756, 368174, 347

204,39689, 70720, 4448,36014, 54932, 25239,084

459, 49937, 051115,844105, 59946, 74644, 69618, 54932,19913,16545, 650

.298

.061

.301

.899

. 571

.2064.035

22,744-24,383

- 83, 33247,460' 14, 991" 12, 75612,739

.351

1,9665,0483,744

59242364186

535, 01683, 304112, 240339,472247,85218,93514, 29158,855155, 771

165, 86671, 78517,4497,93010, 60724,85133, 244

430, 29734,983100, 69597, 92944,69344, 28517, 51532,78512,12345, 289

.298

.061

.301

.895

.572

.2064.035

22,756-21, 763

• 77, 37846,052

114, 221• 10,16613,200

.351

1, 5054.4124,510

832

59455356184

532,29484, 799111, 795335, 700253, 73520,09215, 38258,805159, 456

176,10476, 72620, 2837,02112,97827, 51031, 586

432, 67933, 590101,12596,14845, 20346,42618,41335,44512, 39043, 939

.061

.301

.878

.571

.2064.035

22, 754-27,759

• 76, 80745,044' 13,325• 11,83713,703

.448

1,7584,5612,922

818

451513646

14934224242413552

211

21126

284.1

66.0 i ._.

67946

428204

588, 23778,094135, 727374, 416262, 36821, 75316,07356, 836167, 706

189, 32684,11422,4648,05313,96827, 25833, 469

467, 81437, 408118,351106,05747, 51847, 72018,86732, 23413,05946,600

.061

.301

.876

.570

.2064.035

22,740-56,440

• 78,266r45,458• 13,479•12,01514, 210

.448

1,8703,8193,505

890

62872358197

584, 743114,180111,801358, 762260,42722,12816,85758, 539162,903

176, 24780,10922,1327,21812,76325, 88028,145

447, 74934, 767119, 590100, 77444, 35745,18817,41030, 56512, 70342,395

.298

.061

.301

.881

.570

.2064.035

22,743-10,752

' 70, 38043,473• 12,801r 7,83114,805

.448

1,6233,2923,128

784

679165315200

817, 547317,37397,863402,311387,03360, 57717, 77597, 855210,826

244,90997,82621,8027,41413,19268,31436, 361

521, 52436,426143, 961114, 55452, 56350, 30720,22038,14216,06949, 282

77

.298

.061

.301

.879

.572

.2064.035

22,726-30,974

• 68,37242,897• 12, 704' 6, 21215,410

.448

1,6343,6733,150

939

557724992

15436304449483547

294

23158

35383.9

58554340191

576, 43593,818103,873378,744281,07733,98419,31257, 639170,142

203, 60493, 44225, 7778,30217,01534, 37724, 691

485,78239, 396137, 295108,31646, 68443,66118,13134,13312,79845,368

.298

.061

.301

.896

.572

.2064.035

22,68376,063

• 64, 86141,80611, 7084, 05415,590

.448

1,6063,5382,851

1,032

6.2 !

62342380201

593,73390,690117,563385,480279,44523,50419,33459,376

177,231

187,85385, 54924,2377,13512, 79633,81724,319

508,90836,761136,677117,26849, 56349,70819,72237,23513, 75248T 222

.298

.061

.301

.900

.572

.2064.035

22,64463,411

63, 90342, 59111, 4594,12116,088

.448

1,6233,1722,714

810

75475432248

752, 561130,390136,083486,088316,13927,60218,91868,170201,449

229,883105,83630, 5568,27214,13540, 23430,850

631,86348,103166, 717146, 47660,33562,37926,19244, 09817,80359, 760

.298

.061

.301

.899

.572

.2064.035

22, 576

P61,86639,08412,1694,52016,250

.448

1,7713, 6361,931

962

4375139

21127

36209.4

71961

405253

747, 200124,984126, 662495, 554271, 63825,94919,4.1056, 736

169, 543

205, 25393, 50831, 7097,71014,01631, 68026, 630

634, 20950, 757

170,949140,10161, 74265,96124, 40242,88717, 50159, 909

.298

.061

.301

.902

.573

.2064. 035

22, 473101,005

p63, 467»41, 23411, 3084, 89116, 660

.448

1, 672' 3, 5791, 988

988

72274

409239

743, 026154, 406127, 626460,994274, 77623, 40515, 63057,341

178,400

194, 28589, 48527, 9507,25512.84230,81225,941

605, 28648, 325155, 785133, 42664, 61561, 79724, 31641.84317, 56557, 614

.298

.061

.301

.901

.573

.2064.035

22,42645,122

v 63,07041,99710, 9694,0G517,114

.448

3, 0132,717

1,026

63.6 I !

p Preliminary. l Partly estimated. • Or increase in earmarked gold ( - ) .<g)39 companies having 81 percent of the total life insurance outstanding in all United States legal reserve companies.cfPrior to Nov. 1,1942, the official designation of the currency was the "milreis."§The free rate for United Kingdom shown in the 1942 Supplement was discontinued after Feb. 1,1943; the official and free rates (rounded to thousandths) were identical

from January 1942 to January 1943. The official rate for Canada has been $0,909 since first quoted in March 1940.JData for Mexico, included in the total through March 1942, are no longer available for inclusion. Revised monthly averages for 1941 and 1942 for the total, excluding

Mexico and including certain other revisions, are as follows: 1941, 88,452; 1942, 80,674. Revised 1941 and 1942 monthly averages for Canada and the 1942 monthly average forthe United States are as follows: Canada—1941,15,590; 1942,14,121; United States—10,914. Monthly revisions for 1941 and Januarj-May 1942 are available on request.

tRevised beginning December 1938; revised figures beginning March 1942 are on p. S-17 of the May 1943 Survey; earlier revisions are available on request.*New series. The series on payments to policyholders and beneficiaries, compiled by the Institute of Life Insurance, represents total payments in the United States,

including payments by Canadian companies; data are based on reports covering 90 to 95 percent of the total and are adjusted to allow for companies not reporting; data be-ginning September 1941 are available in the November 1942 Survey; earlier data will be shown in a subsequent issue. For data beginning 1929 for profits and dividends for152 companies, see p. 21, table 10, of the April 1942 Survey. Earlier data for net income of electric power companies will be published in a subsequent issue.

S-18 SUKVEY OF CUKKENT BUSINESS August 1943


1943

June

1942


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary


FINANCE—Continued

PUBLIC FINANCE (FEDERAL)United States war program, cumulative totals

from June 1940: •Program _ mil. of doL.Commitments doCash expenditures do

War savings bonds, sales* doDebt, gross, end of month® do

Interest bearing:Public issues doSpecial issues to government agencies and

trust funds _ mil. of doL.Noninterest bearing do

Obligations fully guaranteed by U. S. Gov't:Total amount outstanding (unmatured)cf

mil. of doL.By agencies-cf

Commodity Credit Corp doFederal Farm Mortgage Corp doHome Owners' Loan Corporation..doReconstruction Finance Corp do

Expenditures, total _ doWar activities! ...doAgricultural adjustment program doUnemployment relief doTransfers to trust accounts!.- doInterest on debt doDebt retirements. doAllothert--- - - do

Receipts, total.. doReceipts, net _ do

Customs doInternal revenue, total do

Income taxes _ 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 (inch pre-

ferred stock). ._ mil. of doL.Loans to railroads doHome and housing mortgage loans doFarm mortgage and other agricultural

loans.. mil. of dol..All other.. _ do

U. S. obligations, direct and fully guaran-teed ..mil. of doL.

Business property _...._.do.Property held for sale do.All other assets do.

Liabilities, other than interagency, totalmil. of dol..

Bonds, notes, and debentures:Juaranteed by the U. S do.Other do

Other liabilities, including reserves...doPrivately owned interests doU. S. Government interests do. . .

Reconstruction Finance Corporation, loans out-standing, end of month:*[

Grani total 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-linuidating projects (including financ-

ing repairs) thous. of dol.-Financing of agricultural commodities

thous. of dol..Loans to business enterprises (including

participations). thous. of dol. .National defense§ doBank Conservation Act, as amended., doDrainage, levee, irrigation, etc doOther 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, total ..doCorporate.. do

Preferred stock doCommon stock do

110, 005876

136, 696

124, 509

10, 8711,316

4,092

480930

1,5331,0118,3277,469

4361

6090

1984,5694,569

344,2113,803

57

26, 7088,241

828451

1,937

2,8131,885

1,5651,6746,3108,917

11, 456

4,1011,3336,022440

15, 445

6,840,475581, 012

60, 5663,242485

98, 60S416, 2611,848

16, 702

57

103, 950,932,910672, 27560, 603

472, 967

3, 733

3,72389

175, 599133,85334,921

63472,495

64,156

7,885454

220,237144, 73539,628

90177,136

8,125442

4,548

701930

1,5631,2194,5313,829

3172

1390

1206

2,4942,492

282,4242,086

42

17,9629,026

1,029498

2,357

3,0762,067

1,097859

3,5123,468

9,275

4,5681,4423,265

4388,249

4,551

738930

1,5331,2165,1624,498

4768

24935

2263794747

24742273

53

18,4828,948

1,002497

2,344

3,0382,067

1,113879

3,8083,735

9,482

4,5811,4433,457

4388,562

4,085,264734,070

65,8035,630686

198,926462,088

937

17,310

352

135,961,940.499>99.70870, 359

487,004

••818

r802r 135

97

221,968153,05244, 791

73481,685

72,982

8,262441

4,567

754930

1,5331,2165,2154,884

3052197

(°)22479758722748155232

19, 4018,859

974497

2,297

2,9942,096

1,144924

4,1774,295

9,728

4,5921,4453,691439

9,234

4,273,373 14,545,609733,316 | 735,862

65, 5755,037669

199, 280461,826

928

17,195

349

134, 2782,129,933698,49468,794491,014

r 3,107

' 3,107'61

0()

67, 4494,705659

200, 562461, 563

924

221,918160,15550, 250

83886, 483

77, 338

8,509637

4,552

738930

1,5331,2165,9315,384

35405

224(•)242

2,5282,527

202,4762,126

43

19, 9748,813

964498

2,286

2,9492,117

1,197952

4,2874,725

10,161

4,5741,4344,154439

9,373

4,628,502735,093

66,7934,574600

199, 737462, 470

920

17,194 17,153

349 349

132, 9422,409,243693,21369,357487,450

r 2, 059

r 2, 059

0

131,3492,484,112690,85169,076500,519

r 2, 550

* 2, 536'68r 11

3

237, 913168, 31355, 972

81492,904

83,680

8,585639

4,243

749930

1,533896

5,9375,481

48355670

(°)24764860724

60320648

20,5348,781

949497

2,286

2,9252,124

1,219976

4,7104,848

9,863

4,2651,4134,185

44210, 230

4,848,279735,685

66,4345,170597

200,522462,050

912

17,133

349

129,1875,715,892689,42967,115

493, 489

r 5, 003

r 5, 001M33

237,659177,91362,084

73596,116

86,671

8,787657

4,244

749930

1,533896

6,3636,042

6631328

(°)19383060123784199248

20,9928,779

953496

2,265

2,9162,149

1,2221,0014,7015,288

10, 268

4,2641,4044,601443

10, 281

4,916,226735,209

65, 7115,060529

202,044460,968

17,056

349

126, 5162.770,008688, 20866,832511, 987

-•786

237,949183,80268, 2081,014

108,170

98, 276

9,Q32862

4,283

788930

1,533896

6,5015,825

701225

3531

2152,7022,701

242,6491,972

50

21,7158,746

957486

2,241

2,9122,151

1,2721,0205,1875,489

10, 345

4,3011,4144,630439

10,931

5,312,352723,554

65, 0824,671529

201, 689450,4991,085

16,960

339

123, 7753,188, 266687,42166, 665505, 373

238,398190,10874, 4611,240

111,069

100,852

9,1721,045

4,277

782930

1,533896

6,3725,947

86293554

2228247882572430652

22,6438,691

920489

2,237

2,8782,168

1,2841,0415,6385,989

10, 533

4,2911,4134,829

43911,671

5,604,641723,906

63,8764,315

529200,686453,432

1,069

16, 954

204

117, 5363,493,874

683,06965,469

503, 628

i,958

i, 9 5 8 I

0 i0 |

1,389

1,389900

238, 952197. 523

80, 543887

114,024

103, 286

9, 5651,773

4,275

780930

1,533896

6,1195,770

92232

35(a)

1981,190

95526

1,075380343

23, 437

4742,219

2,8712,167

1, 3751, 3595, 8836,232 j

246,147203,83287, 655

944115, 507

104, 284

10, 0041,219

4,350

779930

1, 533971

7,3546,744

10321

1262

(«)223

5,2075,206

325,1544,732

50

24,1518,565

833469

2,197

2,8682,196

246,116212, 039

94, 9451,470

129, 849

118, 848

9,7951,206

•246,024220, 272102, 3181,335

135, 913

124, 477

10,1981, 238

9301,533986

7,466* 6, 974

816 353889

(a)

2501,5551,514

321, 3961,000

50

24, 7068,652

837462

2,158

3.0032,193

4, 363 4,082

485930

1, 533996

7,4357,092

65121

42

1. 424 1, 5101,408 1,4286,074 ! 6,0816, 681 7, 035

10,791 10,850

4,3321, 3835,076440

12, 206

4,3651,3755,109

44113, 321

5,805,976 6,107,850706, 520 706,147

63, 3624,218

522198, 689438, 6681,061

16, 809

157

115, 250

3,734,583679,83064, 444

994

994490

C)

62, 5763, 835

519204,261434, 378

678

16, 824

117

111,2064,045,737677. 11263, 366

487, 341

1,092

1,0788478

()223

1,7421,480

371, 5S1940

24, 8058,507

821459

2, 141

2, 8912,194

1, 5491,4756,1677,108

11,386 i 11,17

4,3721, 3665,648

44013, 485

6,368,364693, 233

62,1283, 904

488199, 402420. 665

646

4, 0921, 3405, 746

44013, 820

6,678,095715, 774

61,0062,812

485225, 243424, 338

1, 890

10, 757 16, 724

117 i 57

107, 5414,330,509676,12361.477

482, 608

10, 279

10, 274864

(a)

105, 5674,628,627

673, 94060, 830

476, 574

1, 455

1,44068

114

'Revised. ° Less than $500,000.6 $20,000,000 added to unemployment relief and deducted from war activities to adjust for erroneous classification of this amount in December 1942.<8> Figures beginning July 1942 are on the basis of Daily Treasury Statements (unrevised); earlier figures are on the revised basis as shown in the Public Debt Statement

which was discontinued after June 1942.<•? The total includes guaranteed debentures of certain agencies not shown separately.JFor revisions beginning July 1941, see p. S-17 of the November 1942 issue. ^Includes repayments unallocated, pending advices, at end of month.§Covers all loans for national defense beginning October 1942; prior to October some defense loans are included in "other loans and authorizations;" loans to foreign gov-

ernments for dollar exchange, formerly included in "national defense" beginning October 1942, are now included in "other loans and authorizations" for all months.fSee note marked " t" on p. S-19.*New series. The series on the war program has been revised to cover the United States program only; for revised data beginning July 1940, see p. 29, table 7, of the

June 1943 issue; cumulative totals (preliminary) through June 1943 for the series on program and cash expenditures published in the Survey through the April 1943 issue,including foreign orders placed in the United States and payments by foreign purchasing missions, are as follows (millions of dollars): Program, 279,985; cash expenditures,113,762. The series on war savings bonds is from the Treasury Department and represents funds received during the month from sales of series E, F, and G; for earlier datasee p. S-16 of the October 1942 Survey; the August figure has been revised to include $37,000,000 representing reports for August received during the first few days of September.



1943

June

1942


Octo-ber

FINANCE—Continued

Novem-ber

Decem-ber

1943

Janu-ary


SECURITIES ISSUED-Continued

(Securities and Exchange Commission) f

Estimated gross proceeds—Continued.By types of issuers:

Corporate, total. _ mil. of dol.Industrial doPublic utility doRail . . . . d o . . . .Other do

Non-corporate total® doU. S. Government doState and municipal do

New corporate security issues:Estimated net proceeds, total do

Proposed uses of proceeds:New money, total do

Plant and equipment doWorking capital doRepayment of debt and retirement of

stock, total mil. of doL.Funded debt. .doOther debt doPreferred stock do

Other purposes doProposed uses of proceeds by major groups:§

Industrial, total net proceeds.mil. of dol.-New money doRepayment 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 doRepayment of debt and retirement of

stock mil. of dol. -(Commercial and Financial Chronicle)

Securities issued, by type of security, total (newcapital and refunding) ...thous. of dol..

New capita], total doDomestic, total. do

Corporate doFederal agencies doMunicipal, State, etc do

Foreign. doRefunding, total ..do

Domestic, total do__.Corporate doFederal agencies doMunicipal, State, etc ..do

Foreign.,. doDomestic 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 CN. Y. S. E. members

carrying margin accounts) 1Customers' 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:Industrial, utilities, ana rails:

High graded5 bonds).-dol. per $100bond..Medium and lower grade:

Composite (50 bonds) doIndustrials (10 bonds) doPublic utilities (20 bonds) d o . . -Rails (20 bonds) do

Defaulted (15 bonds) do. . . .Domestic municipals (15 bonds)f do

U. S. Treasury bonds do

521

470

3,6343,583

51

97

251015

7051

(a)

192

5025

231

(a)

146

0

46

221,37441,33341,33329,9991,140

10,1940

180,041162,04177,81343,47540, 75318,000

123

57, 86448, 071

2351 12

761167529334

99.64100.6972.26

120.5

109.9116.6114.498.747.6

131.5112.4

'152r 71'71

91

66663432

'149

'7557

' 18

'91'56'10

5'3

' 70'55

'12'7017

' 5393

201*42296, 51696, 51676,8272,06017,628

0104,906104.90661,68628,45514,766

0

665511

36,72375,400

267145

496180309240

95.5097.2861.72

118.0

98.1107.7103.583.024.0125.7110.7

'61' 53'620

3,0462, 998

47

'60

'20'17'4

'39'31

8(a)

()

142, 32240,75040,75027,5102,51510, 725

0101,572101,57232. 71932, 26036, 593

0

281810

48,096133, 530

390104

491172307238

95.7697.4961.68

118.9

98.9108.4104.583.925.5

126.7110.2

'43'2

'3820

'2,016r 1, 969

47

'42

(a)

'3834

161,739103,133103,13358,600

044,533

058,60658,6066,01849,9252,663

0

2617

60,86253,672

257141

490

300240

97.7562.51

118.7

99.3108.7104.185.227.1

127.6109.9

'82'39'41

10

' 2, 4682,444'23

100,97745,08545,08528,446

016,639

055,89355, 39330,43718, 4006, 556500

74

28,862203, 704

26185

500

310240

96.1897.8362.97

119.0

100.7109.8105. 886.429.4

128.1109.8

'46

'3090

4, 9584,919

38

'45

(a)

(a)

(a)

115,00128,14528,1452,434

025, 711

086,85686,85643,84630, 64512,365

0

261

25

36,03679,815

19081

510

310250

96.4898.0863.16

119.3

102.1111.2107.188.030.3

128.6109.5

' 3 5'17' 17

00

75273517

' 3 4

' 5' 1' 4

'29'28' 1

(a)

(a)

• 99,871• 31,029•31,029' 6,67917,1257,225

068,84268,84213, 53145, 5209,792

0

523

24,1886,905

14694

520

320250

96.1197.5965.24

119. 5

103.2113.8108.387.629.6

129.0109.4

'343

'2740

6,9256,906

18

'33

'16'15

1

1713

(a)

32

1'27'10

1744

150,404' 40, 792' 40, 792' 14, 71716, 7209,355

0109, 613109.613' 66, 32934, 2459,039

0

1477

34,48645,464

224125

543160378270

96.7098.0466.11

118.9

103.6115.3109.186.529.9

127.8108.9

99000

1,3801,240

49

8

101

86200

81

800

000

0

176,4206,6706,6702,798

03,872

0169, 75079,7507,517

26, 80545, 42890,000

422

61,172145,734

212103

540

290280

97.4798.7268.88

119.5

105.4115.7110.589.931.7

127.7109.4

493

3980

945887

57

49

12102

3734300

22

( a )

392

3788

0

102,30657,90057, 90011,330

046, 570

044, 40644, 4061,865

31,87510, 666

0

531043

61,33659,482

18830

550

320310

97.7999.0370.01

120.0

106.4115.9111.492.033.5

128.6109.4

986122150

994944

50

96

396

32

4942

178

5933

1822

1

2115

5

10

199,83789, 64587, 395

' 54, 6930

32, 7022,250

110,192110,192

38, 44754,83016,915

0

335

28

51, 36969, 492

23615

610

350'320

98.2499.4270.90

119.8

108.0116.7112.195.339.9

128.7109.1

9128593

( a )

10,18810,165

23

88

936

797432

( a )

275

22581

5733

0

159, 70037, 67737, 67720, 7856,860

10,0320

122,023122,023

74, 90234,50512, 616

0

541

24, 53919, 560

21044

670

570'330

98.6999.8871.21

119.9

109.2116.3113.497.844.7

129.1109.9

8318391412

1.3711,335

37

81

321418

494900

( a )

1711

7380

381414

0

157,36243, 72732, 07028, 6213,449

011. 658

113,63588, 78044. 74444,036

024, 855

20164

' 23,11938, 013

15518

'740

550'330

99.47100. 5371.87

120.1

110.0116.1113.7100.149.1

130.4111.4

' Revised. <» Less than $500,000. i Trading suspended on all markets beginning June 27.® Includes for January 1943 a Canadian Government issue of $90,000,000 and, for certain months, small amounts for nonprofit agencies, not shown separately.1 Complete reports are now collected semiannually; data for Aus.-Nov. 1942 and Jan.-May 1943 are estimates based on reports for a small number of large firms.§ Small amounts for "other corporate," not shown separately, are included in the total net proceeds, all corporate issues, above.t Revised series. For an explanation of changes in the data on security issues compiled by the Securities and Exchange Commission and revised 1941 monthly averages

for selected series, see p. S-18 of the April 1943 Survey; data for 1942 have also been revised; all revisions prior to June 1942 are available on request. The price indexes fordomestic municipals are converted from yields to maturity, assuming a 4-percent coupon with 20 years to maturity instead of 3"H-percent coupon with 22 years to maturity,as formerly; revised data beginning February 1942 are on p. S-19 of the April 1943 Survey; earlier data will be shown in a subsequent issue.



1942

June July AugustSep-

temberOcto-ber

Novem-ber

Decem-ber

1943

Janu-ary

Febru-ary March April

FINANCE—Continued

May

SECURITY MARKETS—ContinuedBonds—Continued

Sales (Securities and Exchange Commission):Total on all registered exchanges:

Market value tbous. of doLFace value. do

On New York Stock Exchange:Market value do. . .Face value do.. .

Exclusive of stopped sales'(N. Y. S. E.),. face value, total thous. of doL

XJ. S. Government do._.Other than U. S. Govt., total. ..do...

Domestic do.-.Foreign do.. .

Value, issues listed on N. Y. S. E.:Face value, all issues __mil. of doL

Domestic -doForeign . . d o —

Market value, all issues do—Domestic _. - --doForeign.. do—

Yields:Bond Buyer:

Domestic municipals (20 cities) _..percent..Moody's:

Domestic corporate . d o —By ratings:

Aaa - do.Aa do-A do.Baa do-

By groups:Industrials-. - .do. . .Public utilities... _ .do. . .Rails do-..

Standard and Poor's Corporation:Domestic municipals (15 bonds) do.. .

U. S. Treasury bonds:Partially tax-exempt do...Taxable*. - — do...

StocksCash dividend payments and rates (Moody's)

Total annual payments at current rates (600companies) mil. of doL.

Number of shares, adjusted millions..Dividend rate per share (weighted average)

(600 companies) dollars..Banks (21 cos.) doIndustrials (492 cos.) doInsurance (21 cos.) doPublic utilities (30 cos . ) . . . doRails (36 cos.) do

Dividend payments, by industry groups:*Total dividend payments mil. of doL

Manufacturing do. . ._Mining „ doTrade -doFinance doRailroads doHeat, light, and power doCommunications doMiscellaneous -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) d o . . . .Railroads (25 stocks) do

Standard and Poor's Corporation:Combined index (402 stocks)_ 1935-39 =100..

Industrials (35-4 stocks) doCapital goods (116 stocks) doConsumer's goods (191 s tocks ) ._ .do . . . .

Public utilities (28 s tocks) . . . . do____Rails (20 stocks) do

Other issues:Bank", N . Y. C. (19 stocks) doFire 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. _

164,430284,117

147,981262, 596

236, 099400

235, 699227,205

8,494

80,99977,9843,015

80, 70478, 5252,179

1.86

3.14

2.722.853.113.88

2.842.983.61

2.07

1.852.29

1,694.13942.70

1.792.821.732.741.742.13

411.9236.426.925.127.834.835.615.110.2

66.3

48.67141.2520.3535.8498.78169.8627.87

96.799.393.398.884.794.3

92.6

118.9

851,10744, 248

715, 32932, 704

23, 416

48,8771,469

!

81,804151,865

72,623139,586

133, 776407

133, 369124,676

61, 89958,8043,09659,11257,2011,911

2.21

3.37

2.853.013.314.33

2.973.124.03

2.38

1.972.33

1, 675.01938.08

1.792.811.762.691.741.66

390.5219.529.725.526.229.936.714.38.7

45.3

34. 20103. 7511.9323.5971.07

125. 0517.10

66.168.269.067.658. 859.0

66.3

97.2

80,306155, 111

71, 249142,932

125,605299

125, 306119,0686,238

63,99260,9033,08961,27859,3721,905

2.15

3.35

2.832.993.284.30

2.943.094.02

2.32

2 002.34

1, 675.81938.08

1.792.811.752.691.741.75

340.5142.93.315.774.211.740.246.95.6

46.6

35. 54106.9411.7525.6378.26129. 4218.71

68.270.67.1. 569.258.462.9

67.9

98.5

273, 279 302,18112,838 J 14,033

232, 9479,932

7,466

33, 4191,470

258, 53510,964

8,374

34,4441,471

83, 842173, 629

75, 610162, 734

159,938449

159,490152,4187,072

65, 27762,1983,079

62, 72060, 7961,924

2.15

3.34

2.812.993.274.28

2.943.093.98

2.28

2.022.34

1, 646.14938.08

1.752.811.712.691.741.75

143.467.03.13.2

26.68.0

34.3.11.1

47.2

35.46106.0811.5126.1973.10126.9319.26

68.370.571.068.958.865.4

70.5

98.5

253,21112, 553

214, 2179,489

7,387

34,872

124,075316, 526

112,301300, 306

276,812245

276, 567268, 6437,924

65, 25662,1823,074

62, 76660,8301,936

2.16

3.33

2.802.983.264.26

2.953.083 95

2.25

2.032.34

1, 643. 75

1.752.811.702.691.731.79

318.1189.525.325.421.09.327.812.57.3

48.2

36.00107. 4111.7626. 7674.40

128. 6520.16

69.471.671.869.659.566.7

74.1

100.6

284,99515, 381

241, 51711, 903

9,450

35, 6051,471 I 1,471

134, 771303,128

122,448285.683

266,931248

266.684258,3618,323

67, 20764,1393,068

64,84462,9061,938

2.13

3.31

2.802.953.244.24

2.943.073.92

2.22

2.052.33

1,645.97938.08

1.752.811.702.691.731.85

296.8128.15.015.447.712.236.946.55.0

51.1

38.37113.5113.3528.6579.06

136. 5621.55

74.276.577.672.763.772.7

75.7

104.7

465,93724, 753

400,47519, 610

15,933

37,7381,471

98,513207, 713

87,421192,439

169, 301229

169,072157,26911,803

67,15664,0883,067

64, 54462, 5432,001

2.16

3.31

2.792.943.244.25

2.933.063.93

2.20

2.062.34

1, 647. 36938.08

1.762.811.692.691.741.96

155.7101.63.53.88.33.432.1

.22.8

50.6

38.81115.3114.1628. 1380.13139. 2321.03

75.277.277.374.166.273.0

73.1

104.4

411,31222,053

352, 28317,310

13,437

37,3741,471

114,943233,873

101,549214,320

207,079199

206,880195, 83411,046

72,99369,9343,05970.58468,5622,022

2.17

3.32

2.812.963.234.28

2.943.073.96

2.26

2.092.36

1, 677. 20942. 70

1.782.821.712.641.752.12

370.055.644.553.964.247.213.627.8

52.6

38.81117.1614.0226.8381. 51

142.8620.18

75.978.577.775.8G5.269.3

74.2

104.9

629,40333, 651

536, 50925,160

19,313

38, 8121,471

144, 737329,565

132,378310, 531

302,817251

302, 566290, 89011, 676

72,88069,8313,04971,03968,9392,100

2.12

3.27

2.792.933.204.16

2.903.053.86

2.27

2.062.32

1, 682. 83942. 70

1.792.821.712.641.752.12

282.291.91.7

16.273.416.733.746.02.6

56.1

40.73121.5215.5728. 5984.67147. 7521.59

79.782.381.179.769.373.7

77.9

108.4

507, 44028,067

432, 97421, 682

18,032

41,4111,470

134, 433276,381

122,202259, 290

252, 254253

252,001245, 6566,345

72, 96269,83Z3,125

71, 34669,1592,188

2.08

3.23

2.772.893.174.08

2.883.023.78

2.22

2.062.32

1, 686. 26942. 70

1.792.821.722.641.752.16

142.061.6.85.9

28.17.1

36.4.12.0

59.0

42.78127.4016.8729. 8088.18153.7622.61

84.887.783.184.873.377.5

84.7

111.0

614, 76538, 457

527, 64329, 388

24, 434

43, 5391,470

260,794580, 038

243, S69554, 858

497, 869197

497, 872481, 522

1Q, 150

72, 85669, 835

3, 02171, 57569, 4332,142

2.08

3.20

2.762.883.144.01

2.873.003.73

2.21

2. 082.33

942. 70

1.782.821.712.641.742.18

320. 4198. 723.422.116.312.229.89.68.3

62. 1

44. 64131. 15

17. 5S32.4791.13

157. 00

88.,290.889.087.476. 286. 4

89. 7

112. 7

996, 93163,006

861,09148, 026

36, 997

45, 8461,469

214. 979439, 701

197, 276412,821

372, 722257

372, 465360, 470

11, 995

72,81269, 7943,018

71,85869, 709

2,149

2.01

3.19

2.762.883.143.96

2.873.013.69

2.20

2.022.32

1, 683. 92942. 70

1.792.821.712.641.742.18

292.0124.5

3.014.946.017.034.84(5. 65.2

62.6

46. 37131.1319.0034. 7392. 79

158. 4327. 16

91.393.790.190. 979.192.8

92.6

114.8

1,012,67958, 703

869, 34344, 673

33, 554

46,1921,469

216,442429,012

199,696404, 339

343, 226316

342, 910331,153

11, 757

81, 47978,4623,017

81, 04978,8802,169

1.93

3.16

2.742.873.133.91

2.863.003.64

2.13

1.922.30

1, 694.13942. 70

1.802.821.732.641.742.13

115.064.7

.93.67.91.3

35.0.1

1.5

65.6

18.19138.6020. 1336. 4396. 83

165. 2128. 46

95.297 292.'594.934.097.5

91.5

115.6

970, 7S762,040

823, 35244, 948

35,052

48, 4381,470

*New series. The new bond series represents the average yield of taxable Treasury bonds (interest subject to both the normal and surtax rates of the Federal incometax) neither due nor callable for 12 years; this average started Oct. 20, 1941, following the issuance of the second series of such bonds; the 2^-percent bonds of 1962-67, 2^-per-cent bonds of 1963-68, and 2J^-percent bonds of 1964-69 are excluded because of restrictions on their purchase and negotiability. The series on dividend payments has beenrevised because of certain shifts in the industrial classifications, principally a shift of leased railroad lines from "railroads" to the "finance" group. Revised data prior toMarch 1942 (figures beginning March 1942 are in the May 1943 Survey) will be published later. For a description of the data see pp. 26-28 of the November 1942 Survey.

August 1943 SUEVEY OF CURRENT BUSINESS S-21


1943

June

1942


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary


FIN AN CE—Continued

SECURITY MARKETS—Continued

Stocks—ContinuedYields:

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. percent- _

Stockholders (Common Stock)American Tel. & Tel. Co., total number.^

Foreign doPennsylvania R. R. Co., total ____do

Foreign doU. S. Steel Corporation, total do. . .

Foreign doShares held by brokers percent of total..

4.53.94 33.95.46.4

4.03

647, 0405,119

163, 8032,58625.15

6.65.66.44.88.47.8

4.40

639,1525,214

205, 2591 374

164, 0392,58024.90

6.45.56.14.78.27.7

4.32

6.35 16.04 78.07.5

4.27

6.14 95.84 57.97.3

4.27

641,3015,184

205,4051 367

163,7542,57724.88

5.85.05.54 47.27.0

4.23

5.95 25.54 57.18.0

4.23

5.75.05.34 27.28.6

4.19

642,6315,159

205, 9651 360

163, 2962,57725 45

5.44.55.04 16.87.9

4.17

5.14.44.74.16.37.3

4.10

4.84 04.53 96.26.8

4.08

645, 0845,150

207 5411 354

163, 5862,57325 20

4.84.14.53 95.86.6

4.08

4.64.04.33.85.56.2

4.07

FOREIGN TRADE

INDEXESExports of U. S. merchandise:

Quantity 1923-25=100.Value doUnit value... . . do.._

Imports for consumption:Quantity _ _ do.._Value . _ doUnit value. __. do. . .

VALUE*Exports, total incl. reexports thous, of doL.

Exports of U. S. merchandise _. _ do .General imports doImports for consumption do

268

95

1,004,278998, 200307. 463302, 239

18316589

866373

618.092612,699

'214,917205,024

19516886

866676

626, 806621, 895

' 214,367210, 257

19918593

785774

694,466688,124184,432191,759

21519189

846274

' 718,179' 712,128

195,689199, 221

225206

92

957074

776,036768, 912199,392224,012

20820096

795974

749,623743, 806173,745193, 555

24122694

16612776

853, 226844, 994356,280405,345

186

77

' 698,813' 692,527

228,388245,827

180

77

' 676,726' 669,007

234, 293245, 288

246

83

' 926,893'912,437

248,470263,171

303

86

'1,139,709'1,126,956

265, 856275, 711

285

89

1,069,4491,060,732280,883284,959

TRANSPORTATION AND COMMUNICATIONS

TRANSPORTATIONCommodity and Passenger*

Unadjusted indexes:Combined index, all types 1935-39=100..

Excluding local transit lines. doCommodity doPassenger.. .do

Excluding local transit lines. doBy types of transportation:

Air, combined index _ doCommodity ..doPassenger do

Intercity motor bus and truck, combinedindex 1935-39=100..

For-hire truck doMotor bus do

Local transit lines doOil and gas pipe lines.... doRailroads, combined index do

Commodity do. . . .Passenger do

Waterborne (domestic), commodity-.doAdjusted indexes:

Combined index, all types doExcluding local transit lines .-do

Commodity doPassenger do

Excluding local transit lines doBy type of transportation:

Air, combined index doCommodity doPassenger . do

Intercity motor bus and truck, combinedindex .._ 1935-39=100.

For-hire truck doMotor bus _ do

Local transit lines doOil and gas pipe lines.. doRailroads do____

Commodity.. doPassenger do

Waterborne (domestic), commodity-.doExpress Operations

Operating revenue.. thous. ofdol.Operating income . . .do.

Local Transit LinesFares, average, cash rate cents,.Passengers carried§ thousands..Operating revenues. thous. of dol..

7.80321,259,983

180186179181233

287324263

19118022713712920219823486

177183178175219

261316225

18417820713913520219922566

12,16872

7. 80601,023,54476,494

185192184189255

302349270

20118525213413220920325685

184189183185229

287325236

19618921114914020820423864

12,17076

7.80601,033,34877,400

193201190202284

326372296

21720027313413421820928984

187192185194248

372245

19819621614914221120526462

12,10677

7.80601,037,05478,399

206195207286

343406301

22021125014214122421430481

190197187203271

313407251

20120122714714621620629461

12, 922

7. 80601,059,72778,782

203211202207276

351431298

22622423514914523022129677

195202191210285

323421258

21020924714714922121030757

13,31956

7.80601,152,86885, 257

196203192209284

337438270

21821622714715222120931465

194202187218307

356451293

21120824514515122120534057

14, 773153

7.80601,100,45181,356

191196181226302

323474224

22221624016215621219533942

194200187218295

348454277

23322523215415021419932866

18,071157

7.80601,254,32994,248

187191178217286

319M45236

'209'20223216015521119731729

195200186224

'302

'376481

'306

226212271159148214201318'66

14, 29567

7. 80601,239,42893, 600

'202207

'194228304

'377r 515

'220' 213244165163229215336'34

' 208216200235326

407520332

235219289159150234220345'71

14, 30678

7. 80601,147,97187, 326

203209195230311

'379'515

2242182431621C0234216347' 35

'209'217201237

'335

'381'497'304

238225282156154236220364

15, 363

7.8060

207'213197241

'335

'419' 568320

226214

'264163163235217

'372'47

214222204245351

'406'560'304

234219285157

'160243224

15,803145

7.S1,254,163 11,220,211

93, 720 I 92, 325

211218201243341

395523310

223207276162158240222377

214222203250358

382518292

22620729116016124622639763

16,08453

'7.8032l,247,526i

93, 371

• R P vised.X For revised 1941 monthly averages, see note 2 on p. S-20 of the April 1943 Survey; revised monthly data available on request. The December 1942 figures are overstated

owing to the inclusion of an unusually large volume of goods actually exported and imported in earlier months. Similarly, the April 1943 export figures include shipments^valued at $160,000,000 which were actually exported in January-March.

§For 1941 figures revised to cover the same companies as for 1942, see note marked " t " o n P- S-21 of the April 1943 Survey.*New series. For data beginning 1929 for the transportation indexes see pp. 26 and 27, table 5, of the May 1943 issue.



1943

June

1943 1943

June July August I Sep-tember

Octo- | Novem-ber j ber

Decem- 'ber ;

Janu-ary

Febru- March j April May

TRANSPORTATION AND COMMUNICATIONS—Continued

TRANSPORTATION-ContinuedClass I Steam Railways

Freight carloadings (Federal Reserve indexes):Combined index, unadjusted.__ 1935-39=100.

Coal do . . .Coke do__.Forest products do._.Grains and grain products do___Livestock do. . _Merehandise, 1. c. 1 do--_Ore do__-Miscellaneous do. - -

Combined index, adjusted do. . .Coal do.- .Coke do_-_Forest products do. . _Grains and grain products do_._Livestock do_ _.Merchandise, 1. c. 1 do . . .Ore do__.Miscellaneous do . . .

Freight carloadings (A. A. R.): ^Total cars thousands.

Coal do . . .Coke do._-Forest products do. . _Grains and grain products do. . .Livestock do._-Merchandise, 1. c. 1 do . . .Ore do._.Miscellaneous,. do . . .

Freight-car surplus, total do__.Box cars do . . .Coal cars do . . .

Financial operations:Operating revenues, total thous. of dol.

Freight do.._Passenger do__.

Operating expenses do__.Taxes, joint facility and equip, rents. __dO-_.Net railway operating income do___Net income do___Operating 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 do.__Passenger do . . .

Railway expenses do.__Net railway operating income do . . .Net income d o . . .

Waterway TrafficCanals, New York State..thous. of short tons..Rivers, Mississippi (Gov. barges only)..do

TravelOperations on scheduled air lines:

Miles flown thous. of miles__Express carried thous. of lb._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 doE migrants doImmigrants doPassports issuedcf do

National parks, visitors doPullman Co.:

Revenue passenger-miles thousands. _Passenger revenues thous. of dol..

COMMUNICATIONSTelephone carriers: t

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, total thous. of dol..

Telegraph carriers, total doWestern Union Telegraph Co., revenues

from cable operations thous. of dol..Cable carriers do

Operating expenses doNet operating revenues doNet income trans, to earned surplus do

Radiotelegraph carriers, operating revenuesthous. of dol

132100162145140866329714613311918014014311063171144

3,1514575017618948

386329

1,515721834

747,365549,134147, 294451, 946185,764109, 65570, 900

3.7084174

9,56467, 345

139135179165111816031814514116019915911310360183144

3, 386661'56

••20515445378359

r 1, 5278255

623, 687501, 34382, 268378,472126,477118, 73877, 691

57, 304.9314,238

627.4508.679.4

499.5127.984.2

462225

7,3533,097

240, 916109, 253

3.4371128

7,4595,147585

2,59316, 244221,658

,496,0488,509

134, 21680, 07842, 37985, 54222,16721,888

14, 39813,151

6781,24811, 7181,216787

1,204

1421321771731387657

325148142155205172959057180149

3, 32260554

20319440346363

1,51771467

665,182533,08691, 939

390, 477141,703133,00189, 632

60, 713.9364,765

642.8519.482.0518.7124.079.2

584257

8,0793,534

262, 715116,104

3.4569125

9,2634,935419

2,19515, 042

342, 043

1,471,5008,903

135, 65279, 41544, 57989, 37021, 33921, 941

14, 37513, 296

7091,08011, 967

958454

993

14413617517312910057

308152 I143 |154208165106106 I57176152

4,3518256927022868449440

2,0015940

683, 807537, 412103, 463399,292149,250135, 26489, 243

62,405.9175,395

668.9534.292.3539.3129. 584.6

461247

8,4513,927

283.145127, 393

3.7475143

7,0315,005344

1,93211,635

330, 540

1,843,326

135, 32878, 89744, 66686, 43922, 63222, 048

14, 28213, 254

7121,02811, 9321,031501

999 i

152142184167139 !13557

30416213613518815412610255174146

3,5046615619918871347336

1,64743284

697, 792546,791104,971399, 706143, 455154, 632105,190

61, 934.9415,500

662.6517.9100.4534.7127.981.8

544196

4,375273,022125, 327

3.7078134

10,3934,400423

2,33619,128

210,020

1,925,45910,169

138,01580, 41345, 68087, 83222, 84622,146

14, 61713, 600

7551,01811,9121,384946

961

8,4084,341

273,162128, 329

3.7380135

7,9025,190463

2,14714, 66776, 659

1,961,98610,444

150138180158 !13916958

26016313312118014913011056221144

4,51283771244247118460373

2,16230175

745, 584587, 612108,322416, 430144, 439184, 715135, 538

66, 019.9465,508

660.8501.9113. 0533.3127.5

436222

142, 86482, 50748,16189, 26020, 33722, 284

14, 95613,875

8191,08212,1791,336812

998

14013918613812314459

20615013412517614012611458221144

3,2366495716416878356230

1,534532814

690,108534, 762108,060406, 389134, 770148,949111,310

60,464.9395,663

722.5553.5120.4563.2159.3120.3

451140

7,7773,974

240, 705112, 488

3.7979137

7,4745,077563

1,91511,17351, 976

1,906,71410, 052

140, 44781, 57646, 56687, 94024, 31022, 400

14, 25013,151

8631,09911,6251,237658

1,007

1261321931221301135659135134116177137143117

124135193117138985550132135119161130157102

59210146

2,834612571481766334066

1,371683520

702,995531,918119,151431, 873100, 271170,851137,101

58,356.9676,314

708.4551.0109.2553.6154.9109.3

0103

7,2923,634

202, 62396,308

3.5674132

8,9955,152460

1,8378,247

11, 865

1,869,95210,080

146, 48382, 89150, 76697,41121, 58822, 544

15, 97014, 667

1,1041,30313,1821,927947

1,184

57202149

3,531790751722376642171

1,698673520

671. 334514,316111,725424, 201141, 829105,30462, 980

58, 929.9345,914

710.4553.8107.5576.6133.892.0

098

7,5083,600

208, 380101,411

3.6081131

6,4424,879398

1,78211, 62813, 211

2,036,17511,018

146, 68883, 61050, 27490, 31021,19722, 835

i 14, 253i 13,138

1894i 1,115i 11, 762

i 535d 199

1,092 !

7,5853,619

233, 049110, 983

3.6682

136

6,9695,527

4801,504

12,67914, 638

1,849,64310,151

142, 57882,42548, 28687, 59121, 29822, 947

i 13, 663i 12, 729

1 7931934

i 11,1111618

13014518912914290584813714112715413517011361193153

3,0567056016020351

37055

1,45341199

663, 534513,191107, 224408, 459148,942106,13361,819

58,102.9435,668

743.7576.1117.6591.0152.8111.2

0101

13014418913313192625613813614018213315211761216141

3, 0737066016418752

38963

1,45235157

756, 251585, 252121,448449,440177,163129, 64784, 651

64, 686.9566,482

739.9560.4129.5615.9124.0' 81.5

8,1274,320

265,175124, 256

3.5683140

7,2855,178336

1,81512,17817, 751

2,091,35811, 511

150, 34285, 28753,12293, 78321, 09023,124

i 15, 768i 14, 677

i 906i 1,091i 12,165i 1, 672

742

1,094

1321331831381241056310614314115820813814511862209142

3,1366665916917358

39795

1,5193516

748, 798570,136127,915442,149179, 590127,059r 82,901

62, 947.9666,715

766.7578.4138.0623.1143.6

r 101. 5

0125

4,816280,914132, 985

3.8683156

12, 77232, 270

2,126,10311, 627

147, 94684, 94151,14492, 89721, 00923, 285

i 16, 023i 14, 766

1933i 1, 257i 12,101i 1, 951

824

1,095

1371321791431231016226914514115619513814411262209143

4,1507927122122272488364

1,92049215

759,331573, 788133, 581454, 362176,800128,16985, 732

66, 528

783.0587.3145. 6623.8159.2116.7

186

8,3234,549

282,103133, 267

3.5585

162

10, 33445, 660

2,105,32111, 797

*• Revised. d Deficit. ^Includes passports to American seamen.1 Data for August and October 1942, January and May 1943 are for 5 weeks; other months, 4 weeks.X Data for 3 companies operating outside of United States, included in original reports for 1943, are excluded to have all figures cover the same companies.1 Owing to changes in accounting system, 1943 figures are not comparable with earlier data above; available 1942 data on new basis are as follows: Operating revenues-

total, Jan., 13,083; Feb., 11,952; Mar., 13,339; Apr., 13,916; telegraph carriers, Jan., 11,914; Feb., 10,980; Mar., 12,191; Apr., 12,803; Western Union cable operations, Jan., 620;Feb., 565; Mar., 663; Apr., 661; cable carriers, Jan., 1,169; Feb., 972; Mar., 1,148; Apr., 1,113; operating expenses (no comparable data); net operating revenues—Jan., 886; Feb.,667; Mar., 1,393; Apr., 1,656; 1942 data shown above for the latter item are operating income.



1943

June

1942


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary


CHEMICALS AND ALLIED PRODUCTS

CHEMICALS

Methanol, prices, wholesale:Wood, refined (N. Y.) dol. per gallon..Synthetic, pure, f. o. b. works do

Explosives, shipments thous. of lb_.Sulphur production (quarterly):

Louisiana - -long tons..Texas do

Sulfuric acid, price, wholesale, 66°, at worksdol. per short ton_.

FERTILIZERSConsumption, Southern States

thous. of short tons_.Price, wholesale, nitrate of soda, crude,

f. o. b. cars, port warehouses*._dol. per cwt..Potash deliveries short tons..Superphosphate (bulk):f

Production doStocks, end of month. do

NAVAL STORESRosin, gum:

Price, wholesale " H " (Savannah), bulkdol. per cwt_.

Receipts, net,3ports bbl. (5001b.)..Stocks, 3 ports, end of month do

Turpentine, gum, spirits of:Price, wholesale (Savannah)f..-dol. per gal..Receipts, net, 3 ports bbl. (50 gal.).Stocks, 3 ports, end of month do

OILS, FATS, AND BYPRODUCTSAnimal, including fish oils:

Animal fats:tConsumption, factory thous. of lb_.Production doStocks, end of month do

Greases:tConsumption, factory doProduction doStocks, end of month do

Fish oils:JConsumption, factory __do.__Production. „ . .doStocks, end of month. do

Vegetable oils, total :tConsumption, crude, factory mil. of lb_.Production doStocks, end of month:

Crude doRefined do

Coconut or copra oil:Consumption, factory:t

Crude thous. of lb_Refined do

Production:Crudet doRefined do

Stocks, end of month:%Crude doRefined do

Cottonseed:Consumption (crush) thous. of short tons.Receipts at mills doStocks at mills, end of month do

Cottonseed cake and meal:Production short tons..Stocks at mills, end of month do

Cottonseed oil, crude:Production thous. of lb..Stocks, end of month do

Cottonseed oil, refined:Consumption, factory % do

In oleomargarine doPrice, wholesale, summer, yellow, prime

(N. Y.) dol. per lb.Production thous. of lb.Stocks, end of month do

Flaxseed:Duluth:

Receipts thous. of bu.Shipments doStocks do

Minneapolis:Receipts doShipments doStocks do. . . .

0.63.28

36, 853

172, 935

16.50

117

1.650

3.5519,719

246,127

.6610, 50866, 518

9218

103

41, 64229,629

30,36441, 523

.14049,797

239,462

252547532

11797

0.58.28

42,101

163, 810774, 706

16.50

148

1.65062,959

915,172

2.9521,686

237,420

.578,021

22,817

379,256699,673365,870

135,020141,187102,044

i 42, 798Ul ,713160, 540

17441710

i 7611521

i 35,085i 12, 995

i 17, 740i 13,512

i 126,087i 10,017

25118

38,825249,452

27,86649,901

232, 48210, 352

.13853, 735

369, 205

129233423

633130826

0.58 I.28

0.58

16.50

70

1.65059,224

U5, 6031,067,747

3.1026,872

229,436

.5811,46632,164

104,890247,889393,452

39,94546,259

106,004

16,06710,342

162,869

210214

729458

9,3163,294

()3,715

129, 7039,325

642882

32,083190,100

21, 53234, 460

90,05410, 400

.14036, 328

310,191

24156698

447164468

16.50

66

1.65059, 371

501,5921,070,785

2.9135,415

245,937

.5510,42139,821

120, 265213,963368, 527

46, 24541, 313

107,787

14, 57027, 575

178,219

212212

726373

10,0265,218

()4,289

128,6026,988

93157145

40,845133,495

28,23327,907

99, 52211,312

.13932,942

230, 569

517236379

5,438483835

0.58.28

42, 571

148, 570739, 665

16.50

169

1.65056,439

574, 7211,296,529

3.3024,713

250,079

.609,290

45, 705

137,997220,217311, 526

42, 54942,086

104,028

15,31927,291

178,247

266333

764312

7,3522,742

()1,822

121, 2628,141

5291,085

701

224, 921146, 533

161, 74890,601

129, 95213,487

.13680, 512

199,396

2,438750

2,066

5,678465

2,734

0. 58 0. 58.28 .28

41,407 I 41,477

16.50

200

1.65059,846

554,0671,271,890

3.5018,922

263, 434

.646,474

49,525

136, 624223,747289,743

51, 23945,08496,432

14,49620,895

207,131

342432

834299

8,0582,259

9,1112,370

126, 7397,243

7381,6351,598

330, 025134,136

133, 726

135, 37715, 612

.137169,490201,427

2,6462,3982,304

5,564554

2,780

16.50

221

1.65054,855

547, 5761,197,472

3.4619,432

267,144

.646,047

51,913

108, 682255,989286, 358

41,33345,693

104,916

11, 56823,845

208, 237

355419

354

7,6392,151

5,2082,684

138,1427,243

714833

1,714

317, 338117, 778

217,103157, 849

119,37419,126

.140181,960254, 713

8281,6951,437

1,320252

2,535

0.58.28

30, 626

147,850645,380

16.50

340

1.65067,876

571,3691,148,688

3.4320,108

277,546

.646,806

55,900

114, 466290, 597306,055

44,71650,942

108,570

16, 54915,373

215, 619

362416

914407

7,4423,900

7,4724,293

134, 9716,415

652340

1,401

291,92292,672

200, 882157, 212

137, 46921,035

.140185,433300, 519

366

744110

2,269

0.58.28

33,392

16.50

1,006

1.65061,637

577,8421,143,446

3.507,817

276, 791

.642,102

57, 627

114,315263,560295, 350

49,93545,599

107,104

13,1646,420

204,804

332402

922438

6,1323,922

8,3622,675

136,6845,109

528178

1,049

234, 95275, 866

165,824153, 873

132, 71030,050

.140151,406327,618

240

940

581186

1,865

0.58.28

35, 282

16.50

1,325

1.65056, 586

577, 2811,025,992

3.487,728

265, 912

.631,105

55,071

110,671237, 931

57, 59345,13696, 683

13, 8904,304

204,704

339359

438

7,1173,423

8,9243,434

146,4914,732

397107759

176, 31758, 800

123,138140, 655

145, 70226,132

.140134, 595318, 380

242

963

627165

0.58,.28

39,337

139, 505525,106

16.50

1,281

1.65064,616

611, 773843, 764

3.577,572

251,799

.641,548

51,321

118,521210,021290,458

61,06745,02387,460

12,483736

197,053

344352

967446

7,4223,859

17,7123,068

161,7124,188

33261

483

146,39339,853

104,833116, 640

134, 57525,187

.140119,766318,303

100

972

1,265305871

0.62.28

38,588

16.50

800

1.65061,310

560, 346610, 744

3.5013, 437

253,134

.645,892

54,095

111,060223,448308,448

59,85746,03181,186

15, 3261,169

195, 551

313321

923445

7,3083,690

14,9513,454

174, 8334,149

21328

298

93,98837,431

68, 24789, 472

112, 24115, 624

.14089,836

299,847

104173904

1,311113868

0.63.28

36,154

16. 50

387

1.65032, 543

585,937591,127

3.5417,992

249,087

.638,035

58,481

100,668276, 540307,190

61,15847,80781, 770

21,9652,637

177,148

276274

880423

9,6915,019

14,6713,481

188,4234,447

14725

177

67, 56936,258

47, 23165,880

93,7639,917

.14065, 677

266, 557

252329827

813333412

1 Quarterly data. Data compiled monthly beginning July 1942. a Not available.•Price of crude sodium nitrate in 100-pound bags, f. o. b. cars, Atlantic, Gulf, and Pacific port warehouses. This series has been substituted beginning 1935 for the series

shown in the 1940 Supplement; figures for August 1937 to December 1941 are the same as published in the Supplement; for data for 1935-36 and all months of 1937, see notemarked " • " on p. S-23 of the May 1943 Survey. Prices are quoted per ton and have been converted to price per bag.

JData for the indicated series on oils and fats revised for 1941; revisions for fish oils are shown in note marked " t " on p. S-22 of the April 1943 Survey; revisions for all otherseries were minor and are available on request.

fRevised series. The turpentine price shown beginning with the April 1943 Survey is the bulk price; data shown in earlier issues represented price for turpentine inbarrels and can be converted to a comparable basis with the current data by deducting 6 cents. Superphosphate is reported on a revised basis beginning September 1942,covering all known manufacturers of superphosphate, including Tennessee Valley Authority; the new series include all grades, normal, concentrated, and wet base, convertedto a basis of 18 percent available phosphoric acid. Earlier data include normal and concentrated superphosphate as reported by concerns which for 1939 and earlier yearsaccounted for about 95 percent of the value of superphosphate produced, exclusive of T. V. A. production, according to Biennial Census data; it is estimated that this earlierseries represented approximately 94 percent of the total production, including T. V. A., for 1935, 93 percent for 1937, and 89 percent for 1939. The coverage declined to around83 percent by the latter part of 1942, on the basis of comparisons with the new data. Data are shown on an 18 percent, A. P. A. basis; data in the Survey prior to the June1943 issue are on a 16 percent basis and can be converted to 18 percent by multiplying by 0.8889.



1943

June

1943


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary


CHEMICALS AND ALLIED PRODUCTS—Continued

OILS, FATS, AND BYPRODUCTS—Con.

Flaxseed—Continued.Oil in ills :?

Consumption thous. of bu_Stoeks. end of month... do. . .

Price, wholesale, No. 1 (Mpls.)_.dol. per bu_Production (crop estimate) thous. of bu.

Linseed cake and meal:Shipments from Minneapolis thous. of 1b.

Linseed oil:Consumption, factory? - do. . .Price, wholesale (N. Y.) dol. per 1b.Production? thous. of lb.Shipments from Minneapolis do. . .Stocks at factory, end of month do. . .

Soybeans:Consumption? thous. of bu.Production (crop estimate) do. . .Stocks, end of month _do...

Soybean oil:Consumption, refmedf thous. of lb.Price, wholesale, refined, domestic (N. Y.)

dol. per lb.Production:

Crude? thous. of lb.Refined do. . .

Stocks, end of month:Crude. do. . .Refined? do. . .

Oleomargarine:Consumption (tax-paid withdrawals)!-.do.._Price, wholesale, standard, uncolored (Chi-

cago) ..dol. perlb.Production? thous. of lb.

Shortenings and compounds:Production __thous. of lb.Stocks, end of month? do. . .Vegetable price, wholesale, tierces (Chicago)

dol. per lb_

PAINT SALES

Calcimines, plastic and cold-water paints:Calcimines thous. of dol.Plastic paints do. . .Cold-water paints:

In dry form _ . . . do . . .In paste form, for interior use do. . .

Paint, varnish, lacquer, and fillers:Total de-

Classified, total . do. . .Industrial do___Trade do.. .

Unclassified do...

3.051 53, 008

45,180

.153

"36," 060'

.165

.165

i 12, 526i 3, 965

2.54

23,440

151.183. 139

241,01522,100

1 225, 615

» 18, 497

» 11, 624

• 123, 400

.135

' 167,9451147, 269

i 78, 7191 76,098

23,099

.15027,143

246,304i 63, 208

.165

17332

268517

43,98239, 51317, 08222, 4304,469

3,9814,1972.46

31, 440

46, 826.137

76, 78227, 900211,087

6,595

10, 244

42,629

.135

59, 84348, 061

78, 35073, 099

22, 535

.15029, 383

95, 47756, 823

.165

10329

235406

42, 22137, 98717,17320, 8134,234

3,8995,4672.40

34, 200

44, 407.136

76, 30821. 850

230, 252

6,218

5,931

58, 478

.135

57, 41362, 407

68, 89667, 761

24, 379

.15038, 495

125,91850, 953

.165

11736

219385

41,10636, 93516, 74820,1874,170

3, 77810, 3472.43

54, 640

46, 726.134

72, 02322, 750

242, 879

6,081

1,120

63,940

.137

55, 38960, 879

52, 45655,134

29, 537

.15039, 604

158,10743, 583

.165

14733

196410

43,02837, 78217, 24320, 5405,246

4,44511,9382.46

47, 240

44, 383.131

84, 78524, 850273,101

6,893

25, 213

60,393

.138

64, 45155, 435

51, 36451, 234

35, 403

,15046, 283

130, 33641,142

.165

10045

190481

44,12239,18617, 90621, 2804,935

3,99311, 2542.43

56, 820

40,198. 127

77, 04525, 560

291, 212

8,145

35, 356

49, 691

.138

75, 39358,061

62, 26851, 476

39, 371

. 15047, 635

96, 22937, 853

.165

7737

177456

38,12234,31516, 22118,0943,807

64, 740

40, 879.129

73, 56927, 780

297, 244

10,0582209, 559

3,81711, 6822.56

2 40, 660

34,938

53,608

.138

92, 32665,414

83, 41657,080

42,151

.15042,099

117,91542, 648

.165

10433

153394

37,14133, 51816, 90516, 6123,623

3,7139,0062.76

60, 660

37, 820.134

71. 78026, 280

289, 245

12, 293

31, 353

62,320

(*)

109, 70473, 875

99,15663, 545

53, 311

.15061,984

119, 74843, 230

.165

11445

154360

37, 84333, 67716, 22117, 4564,166

3,5826, 7462.97

45,180

41, 558143

69, 34628, 560

278, 601

12, 215

28, 782

80,168

107, 73989,103

108,73569,995

50, 984

.16362, 982

124, 95841, 285

.165

10434

169443

38, 39234, 53016, 72617,8043,862

3, 3834.9103.17

44,100

46, 320.153

63, 21438,100

228, 551

13, 066

28,325

95, 622

115,32196, 989

126, 50773, 753

57, 482

.17070, 045

134, 78538, 272

.165

12342

234590

42, 71019,89722, 2254,275

3,2643,5843.21

46, 320

44, 375.157

62, 29839, 360263, 561

14, 892

26,230

89, 614

131.833105, 341

126, 33284,221

32, 363

.16543,120

134,11144, 603

12845

235611

50,92346, 22120, 90725,3134,702

2, 0882, 9933.16

41, 520

44, 265. 155

50, 69140. 380228, 796

13, 635

20, 607

80,903

122, 746100,182

129,16196,092:

20,651

.16530, 775

122, 56851, 920

.165

12143

266-565

51.43546, 710'21, 83024, 8804,725

ELECTRIC POWER AND GAS

ELECTRIC POWER

Production, total mil. of kw.-hr..By source:

Fuel doWater power do

By type of producer:Privately and municipally owned electric

utilities mil. of kw.-hr..Other producers do

Sales to ultimate customers, total (EdisonElectric Institute) mil. of kw.-hr_-

Residential or domestic doRural (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(Edison Electric Institute) thous. of dol—

GASfManufactured gas:

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

18,075

11,5936,482

15,5212,554

15,182

9,8315,352

13, 3941,788

12, 6702,025

270

2,1607,194

132313509

66

227, 057

10, 4369,609

353462

31, 84817, 0542,589

11,986

31, 06822, 0761.9066,965

16, 005

10, 8775,128

14. 0471,958

13,1662,053

335

2,2477,471

137333522

232,460

10, 5009,687

339463

30, 26616,4151,713

11,870

30, 02121, 608

1,3276,962

16, 262

10, 9465,315

14,0472,214

13, 6502,104

2,3287,716

151376522

66

238, 059

10, 5489,732

343462

29, 48115, 8821,339

12, 056

29, 51521, 2541,1157,008

16,114

10, 8955,219

13, 8042,310

13, 7122,156

355

2,3227,724

157384523

92

10, 5809,752

360459

30, 95717,1271,411

12,194

31,01722, 4381,3117,139

16, 753

11,2445,509

14, 2822,470

13, 9702, 223

269

2,2727,946

185396560118

240,253 243,094

10,5599,722

381445

34, 81118, 0843,285

13,160

33, 79623, 4542,5577,622

16, 459

10, 7265,733

14, 0862,373

14, 0972,342

197

2,3087,938

197402568144

246, 749

10, 5349,696

388440

38, 41316, 319

8,10313,665

35,68122,6224,7448,123

17, 681

11,5716,110

15, 2372,444

14, 7472,522

187

2,3668,188

216439671158

255, 711

10, 6039,754

398442

45,94717, 44113, 57714, 516

39,96823, 377

4,7718, 591

17, 651

11, 2556,396

15.1702,481

14,8812,678

174

2,4708,021

202580671

85

260, 780

10, 5381 9,708

369453

46,95419, 08213, 03314, 437

40, 99023, 9388,3498,479

16,110

10, 2205,890

13,9362,174

14, 3942,519

176

2, 3817,793

182655608

79

253, 645

10, 5759,735

380449

45,39618, 64712,40513,969

39,81622,8998,3048,401

17,829

11, 2056,623

15, 3772,451

14,8102,385

171

2, 3348,369

176638653

84

250, 823

10, 5379,707

361457

45,03718, 69610,80315,178

39, 03522, 814

7,4138,592

17,238

10, 4746,764

14, 8242,414

14, 7822, 318

195

2,3498,409

160671596

84

250,156

• 17,865

' 10, 669r 7,196

15, 276' 2, 589

14,7582, 240

219

2, 3078, 458

148732576

78

246, 789

r Revised. • Data not available.i Quarterly data. Data compiled monthly beginning July 1942. 2 Dec. 1 estimate. 3 July 1 estimate.? Small revisions have been made in the data for 1941 for the indicated series on oils and oilseeds.t Revised series. Manufactured and natural gas revised 1929-42. All changes are minor, amounting to less than 1 percent. Data prior to June 1942 are available on*

request.



1943

June

1942


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary


ELECTRIC POWER AND GAS—Continued

GAS—Continued fNatural gas:

Customers, total ___ -thousandsDomestic _do_.Industrial and commercial do_.

Sales to consumers, total .mil. of cu. ftDomestic do__Tndl., coml., and elec. generation do_.

Revenue from sales to consumers, totalthous. of dol

Domestic do..Indl., coml., and elec. generation do..,

8,2317, 650

578121,18823,95994,495

37,04318,09518, 599

8,2817, 700

577120, 273

20, 22197, 543

35, 05815, 76618,851

8,2697,702

564118,463

18, 55796,997

33,87414,75318,746

8,7,

12319,

101,

34,15,19,

8,3797,783

594137, 605

26, 744108, 240

914 41,113044 19,218520 21,528

8,4737,856

615156,140

38, 585114,556

49, 55425, 58223, 544

8,5077, 885

620180,000

57, 334118,888

62,18135, 49726,127

8,4467,842

601193,526

69, 577120, 778

70, 86342, 65927, 730

8,4487,850

596195,113

68, 206123, 048

69, 36741, 20427, 598

8,4987,892

604190, 074

63, 627122, 497

66, 44938, 78327, 055

FOODSTUFFS AND TOBACCOALCOHOLIC BEVERAGES

Fermented malt liquors:!Production ___thous. of bbl.Tax-paid withdrawals „.. ..doStocks, end of month do _.

Distilled spirits:Apparent consumption for beverage pur-

poses.- thous. of wine gal.Production! thous. of tax gal.Tax-paid withdrawals!-- doStocks, end of months . do

Whisky :fProduction „ doTax-paid withdrawals-. .doStocks, end of month do

Rectified spirits and wines, production, totalfthous. of proof gal..

Whisky _ .do.....Still wines:!

Production thous. of wine gal..Tax-paid withdrawals doStocks, end of month .do

Sparkling wines:!Production doTax-paid withdrawals -doStocks, end of month .do

DAIRY PRODUCTS

Butter, creamery:Price, wholesale, 92-score (N, Y.).dol. per lb. . ° . 434Production (factory)t thous. of lb._ 202,195Stocks, cold storage, end of month do 157,955

Cheese:Price, wholesale, American Cheddars (Wis

consin) _.dol. per lb_. .233Production, total (factory)! thous. of lb_. 116,280

American whole milkf__ do 97,600Stocks, cold storage, end of month do 144,461

American whole milk do 116,786Condensed and evaporated milk:

Prices, wholesale, U. S. average:Condensed (sweetened) dol. per case.. 5.84Evaporated (unsweetened) do 4.15

Production, case goods:fCondensed (sweetened) thous. of lb._ 11,500Evaporated (unsweetened) do 386,000

Stocks, manufacturers', case goods, end of mo.:Condensed (sweetened) thous. of lb_. 10,736Evaporated (unsweetened) _ do 373,784

Fluid milk:Price, dealers', standard grade-dol. per 100 lb 3.18Production mil. of lb_. 12,600Utilization in manufactured dairy products!

mil. oflb.- 6,439Dried skim milk:

Price, wholesale, for human consumption,U. S. average dol. per lb-. . 139

Production, totalt thous. of lb._ 63,325For human consumption! do 59,925

Stocks, manufacturers', end of month, totalthous. oflb.. 48,062

For human consumption do

FRUITS AND VEGETABLESApples:

Production (crop estimate) thous. of bu._Shipments, carlotj no. of carloads.. 777Stocks, cold storage, end of mo -thous. of bu. - 0

Citrus fruits, carlot shipments no. of carloads, - - 14, €Frozen fruits, stocks, cold storage, end of month

thous. of lb-.| 106,656Frozen vegetables, stocks, cold storage, end of

month thous. oflb.. 73,207Potatoes, white:

Pric*, wholesale (N. Y.) dol. per 100 lb. . 3,865Production (crop estimate)! thous. of bu.. 2434,942Shipments, carlot no. of carloads.. 27,094

7,3927, 0258,295

4577,181

439, 519

04,779

424,831

4,8844,134

6,2125,8608,935

12,8917,3319,212

538? 910

6,5366, 324

516, 919

4,4783,843

5557,538

133,195

11544

1,050

.369201,110117,111

.202131,370113,167261, 935228, 478

5.653.49

6,050397, 567

7, 445331,571

2.7512, 555

6,520

.12676, 22968, 673

62, 22655,405

7900

16,084

129,334

65, 358

2.883

'247631"'

6,8036,8148,651

.15. 8297, 96812,801

537, 737

7,0398, 585

515,847

6,1996,499

3,5427,916

124, 765

4454

1,037

.382186,560148, 504

.205113,05496, 896

296, 763261, 535

5.65

7,483314, 349

6,733290,875

2.7511, 765

5,846

.12764,90158,554

49,04143, 200

7070

12,335

186,003

88,248

2.919

"11^472"

6,9846,8648,487

16,6116, 89315,380

529,089

5,74410,144507,493

7,5486,652

3,9408,416

116,168

5569

1,019

.414167, 330152,198

.210101,52885, 644279, 905243, 596

5.653.50

8,506270,024

5,412210,140

2.7610, 766

5, 227

.12958, 27352,896

41,82636, 703

7420

9,947

207, 767

102,186

2.150

"I6,~026"

6,5876,2088, 593

19,2846, 52615,129

521, 243

4,94510,008

500,147

7, 7566,753

19, 22510,747

113,962

5893

979

.439137,375123, 599

.21782, 83767,931

259,078224,861

5.833.66

6,789221,679

4,149136, 626

2.829,498

4, 3U0

.13147, 56843, 957

32,39228,432

5, 52311,105

225,104

117, 796

1.615

" 15," 223*

5,7705,6268.483

26, 8077.528

16, 596507, 226

1, 79711,439

487, 550

7,9526,926

85, 75311,473

142,851

64121916

.465123,95486,981

.27171, 58056, 884

195, 378169, 913

5.833.75

5, 580203,114

2,44597, 706

2.858,903

3, 864

.13339,91336,853

19,57017, 332

11,43232, 70611,578

221,727

115,810

1.950

~22~998"

4,7054,7178,253

13, 4424,0718, 583

499, 350

05,656

480, 325

4,9824,228

48,3609,963

152, 288

119854

.465106,02345,937

.23355,61642, 341153,806134,332

5.833.73

5,168165,956

2, 58690, 678

2.938,172

3,222

.13231,18628,809

17, 83316,322

7,46235, 76112,407

206,396

115,845

2.206

"~I5,~924

4,8134,6998,159

15, 7301,57110,100

489, 418

06,873

471,026

5, 399

12,45811,498141,403

75159761

.466116.10324,979

.23354. 93241,020131,398112, 348

5.833.85

7,088178,333

4,22682, 672

2.958,473

3,478

.13434,41932,134

27,06026, 329

1127,6554,823

30, 577

19,428

188,041

103,3332.275

1371,16015,846

4,4214,2368,121

12, 217876

10,273479,196

07,114

461,686

5,1774,619

5,4229,009

132,012

4165

730

».476122, 88015,607

.23360,15546, 545

113,79797,103

5.844.15

8,283204, 698

5,28694,071

3.008, 773

3,740

.13730,80029,000

27, 72926, 673

3,89323,66319,173

172,103

92, 344

2.379

"2l,~33T

5,2184, 5508,565

12,7791,1799.054

170, 259

06,138

453, 387

4, 8364, 238

5,3278, 564

122, 707

7762

736

«. 480121, 995

12, 327

.23360, 37546, 94593, 37976, 678

5.844.14

8,952210, 315

6,39589, 499

3.088,380

' 3, 731

.13731, 90029,200

26,16424, 995

4,89116. 549

17, 529

145, 272

74,821

2.800

~21~514

5,8915, 5478,661

13, 746811

10,056461,146

06.649

444, 878

5, .5364,785

3,5958,311

114, 214

15374

812

«.485140, 075

16, 676

.23374, 34558, 03577, 61564, 890

5.844.15

8. 510252, 339

7,19877, 807

3.099,759

' 4, 377

.13842,15040,150

30, 65229, 884

746403736

392

478

394

" 398"

5,9845, 6838,705

11,942636

8, 669453,034

05, 774

437, 398

4,7804,074

2,9308,066

106, 200

11279

845

«.476150,18530,190

.23383, 59066, 74079, 46465, 843

5.844.15

8.790288, 923

6, 739114,682

3.1410, 245

r 4, 773

.13947, 50045, 350

33,06532, 352

2,7934, 623

18, 247

98, 967

62,076

3,460

" 12," 084

5,8346, 0678,215

4237,361

445, 915

04,725

430,917

4, 6083,917

1, 5277,053

99,122

12297

854

«.475190,535r 82, 701

.233109, 410

87, 560r 97, 327r 80, 495

5.844.15

12, 500376,015

9,121252, 422

3.1611, 904

r 6, 097

. 13859, 97556, 950

43, 90742,984

1,8451,760

17,190

• 96, 515

• 56, 689

4,936

18,490

>• Revised. ! December 1 est imate. 2 Ju ly 1 est imate.o Reflects all types of wholesale t rading for cash or short- term credit; base ceiling price comparable wi th da ta prior to J a n u a r y 1943 is $0.46 % through J u n e 5 and $0.41%

effective J u n e 6, 1943.

zation of fluid milk in manufactured dairy products have been revised to include the milk equivalent of d ry whole milk and condensed bulk goods; earlier revisions will beshown later. 1941 revisions for other indicated dairy products series are shown in notes marked "f" on pp. S-24 and -25 of the March 1943 Survey; revisions in the 1942 dataare shown on p. S-28 of the July 1943 Survey. Crop estimates for potatoes have been revised beginning 1929; revised 1941 estimate is 355,602; earlier revisions are available onrequest. For note on gas see p. S-24.



1943

June

1942


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary


FOODSTUFFS AND TOBACCO—Continued

GRAINS AND GRAIN PRODUCTS

Barley:Prices, wholesale (Minneapolis):

No. 3, straight dol. per bu_.No. 2, malting do

Production (crop estimate) t thous. of bu__Receipts, principal markets doStocks, commercial, dom., end of mo., do

Corn:Grindings, wet process ..._doPrices, wholesale:

No. 3, yellow (Chicago) dol. per bu__No. 3, white (Chicago) do..._Weighted avg., 5 markets, all grades, .do

Production (crop estimate)! thous of bu,Receipts, principal markets do..Stocks, domestic, end of month:

Commercial do..On farms! . . .do..

Oats:Price, wholesale, No. 3, white (Chicago)

dol. per bu__Production (crop estimate)!...thous. of bu__Receipts, principal markets doStocks, domestic, end of month:

Commercial do..On farms! do..

Rice:Price, wholesale, head, clean (New Orleans)

dol. per lb_.Production (crop estimate)! thous. of bu._California:

Receipts, domestic, rough bags (1001b.)__Shipments from mills, milled rice doStocks, rough and cleaned (in terms of

cleaned rice), end of mo bags (1001b.)..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.)..Rye:

Price, wholesale, No. 2 (Mpls.).-dol. per bu_.Production (crop estimate)! thous. of bu..Receipts, principal markets doStocks, commercial, dom., end of mo.- do

Wheat:Disappearance, domestic! doPrices, 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--_.

Receipts, principal markets doStocks, end of month:

Canada (Canadian wheat) doUnited States, domestic, total t ! do

Commercial doCountry mills a nd elevators! doMerchant mills doOn farms! do

Wheat flour:Grindings of wheat doPrices, wholesale:

Standard patents (Mpls.) dol. per bbl.Winter, straights (Kansas City) do

Production (Census):Flour, actual thous. of bbl__

Operations, percent of capacityOffal thous. of lb_.

Stocks held by mills, end of monththous. of bbl. _

LIVESTOCK

Cattle and calves:Receipts, principal markets

thous. of animals .Shipments, feeder, to 8 corn belt States !

thous. of animals..Prices, wholesale:

Beef steers (Chicago) dol. per 100 lb_.Steers, stocker and feeder (Kan. City) .doCalves, vealers (Chicago) do

0.991.08

2 353, 98212,6038,666

b 8,736

1.061.231.04

12,706.55213,032

9,597812,692

.69,242,255

9.172

7,7743 236, 444

.067•71,838

477,897309,872

248,106

125

455

661

.94• 33, 562

3,43823, 350

1.41(a)

1.371.39

79b.823571, 633519,19056,041

387, 497

162,150102, 446

190,034

4 6. 434 5.93

1,433

15. 5614.3814.63

0.68.89

6,9163,600

10, 752

.85

.96

.84

22,448

57, 012761,363

.49

3,671

2,1093192,398

.070

479,241398, 201

197,938

105

253

282

.60

17,034

178,628

1.141.191.111.11

23,416

384, 746631,970224, 441142,36696.837

163,700

37,842

5.515.09

8,27955.0

656,814

3,619

1,953

99

13.1111.8313.00

0.65

4,1183,015

10, 679

1.00.85

23, 578

49, 747

.48

6,642

2,191

.070

196,964167, 716

152, 048

14

187

109

.61

1,26917,212

1.141.221.081.10

61,645

390,572

261~422"

41,465

5.605.01

9,07560.4

718,093

1,831

91

13.6311.0913.13

0.64.82

18, 8725,691

10, 749

.841.02

20,126

43, 697

.49

16, 918

5,132

40, 29369, 944

107,281

298

253

158

.59

2,50817,288

1.131.261.111.11

38,951

378,091

26(U49~

40,920

5.735.13

59.6705, 516

2,398

222

14.8712.0513.70

0.64.85

15, 56610, 551

10,642

.841.06.85

22,183

38,6413 423,758

.49

17,414

10,1231,132,933

.067

49336, 666

70,919

1,295

781

677

.65

2,39318,477

234,957

1.191.331.201.18

53,694

386,9561,378,224269,290257, 765151,927644,146

44,563

5.955.45

9,79367.9

765,128

3,838

2,605

387

0.61

14,96311,887

11, 276

.771.04.77

27,835

39,969

13,125

12,106

.062

394,06260,150

247,027

2,902

1,764

1,908

3,84619,295

1.191.381.211.15

45,416

425,614

47,703

6.045.60

10,49767.4

817,014

2,995

579

14.84 15.2111.64 11.8314.00 | 13.50

0.65.90

9,43612,154

11,175

.811.07.79

30,999

40, 734

9,96710, 743

10,922

1.08.85

13,175,15441,389

43,4072,277,332

.50

6,209

10,451

.067

531,917111,630

457, 565

2,717

1,947

2,787

1,57719, 761

1.201.321.231.17

32,261

435,180

259^487"

43,307

6.095.60

9,51668.8

743, 560

2,535

391

15.3012.6213.50

0.74.95

1426,150

.541,358,730

6,783

9,534887,575

.0671 66,363

543,339383,414

428, 358

2,293

2,091

3,100

.701 57,341

1,06119,889

218,806

1.321.481.311.28

1981,3271278,0741703,253

31,811

447,9601,159,418245,150235,221139,385494,662

46,069

6.185.60

10,15267.9

787,629

3,925

1,845

223

14.8512.2413. 50

.96

7,7259,771

11,387

.971.09.92

35,929

42,829

.59

6,353

7,649

.067

484, 751319, 526

367,863

1,297

1,730

2,769

.75

80219,924

1.391.541.371.36

35,398

447,094

230^639"

49,959

6.336.12

11,03773.8

847,171

1,613

104

14.8412.6714.25

0.83.97

7,4569,000

10, 581

.971.15.93

37, 303

48, 769

.60

7,894

7,608

.067

541,602290,039

421, 529

965

1,009

2,680

.79

1,34519,645

1.411.551.371.38

36,106

438,615

'214,954

44,286

6.356.16

9,78070.7

75% 936

1,541

85

15.1413.4914.63

0.86

6,987

11, 513

1.011.20.96

30, 568

42, 3261,395,112

.64

8,568

6,182508,208

.067

528, 399326,014

416,408

530

1,331

1,954

.83

2,94320, 458

258, 862

1.44)()1.401.41

47, 528

420, 863900, 556212,131174, 591123,455327, 667

47,927

6.20

10, 56966.8

818, 299

4,235

1,811

138

15.5414.4915.00

0.85

8,8147,224

b 10,713

r-1.031.221.03

26, 433

29, 463

.67

8,362

5,083

.067

395, 030339,188

335, 955

214

789

1,429

.81

1,81821,053

1.401.521.381.39

36, 334

409, 388

194,163

40,668

6.446.11

8,97359.2

693,035

1,661

142

15.7114.5813.88

0.84.99

9,0538,767

• 10,107

1.061.231.04

22, 507

24,173

.65

"I6~6628,761

.067

431,401401, 271

255,036

168

642

974

.87

3,90922, 656

1.421.581.381.40

37, 271

390,802

173,113

35,482

6.456.07

7,85354.0

603,659

1,597

99

15.4414.6014.40

° No quotation. b For domestic consumption only, excluding grindings for export.' Revised.i December 1 estimate. 2 j u i y 1 estimate.3 Includes old crop only; new corn not reported in stock figures until crop year begins in October and new oats until the crop year begins in July.• Prices were quoted for sacks of 100 pounds and have been converted to price per barrel of 196 pounds to have figures comparable with the earlier data.VThe total beginning June 1942 includes comparatively small amounts of wheat owned by the Commodity Credit Corporation stored off farms in its own steel and wooden

bins, not included in the break-down of stocks. June figures include only old wheat; new wheat not reported in stock figures until crop year begins in July.! Revised series. The indicated grain series have been revised as follows: All crop estimates and corn and oat stocks on farms beginning 1929; domestic disappearance of

wheat beginning 1934; wheat stocks beginning 1926. T»—•—- «"" *.•.__ ..L * -r. ,__..«.„ _.,._.,. <...__ „ ~- , . . , „ .vised 1941 quarterly or monthly averages favailable on request. The series for feede ^ ,__o o , .^ , . . ^v, .• „ u^«^i—vUanimals): 1941—Jan., 132; Feb., 95; Mar., 102: Apr., 138; May, 124; June, 95; July, 104; Aug~"l82~;oSept.r 327; Oct., 498; ~Nov.T368; Dec",' 232;* monthly "a verage,"2wTT9427 notshown above—Jan., 123; Feb., 79; Mar., 103; Apr., 154; May, 115; monthly average, 214.



1943

June

1942


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary



LIVESTOCK—ContinuedHogs:

Receipts, principal markets_thous. of animals..Prices:

Wholesale, average, all grades (Chicago)dol. per 1001b..

Hog-corn ratiotbu. of corn per cwt. of live hogs..

Sheep and lambs:Receipts, principal markets

thous. of animals..Shipments, feeder, to 8 corn belt Statesf.doPrices, wholesale:

Lambs, average (Chicago)_.dol. per 100 lb. .Lambs, feeder, good and choice (Omaha)

dol. per 1001b..

MEATS

Total meats (including lard):Consumption, apparent mil. of lb_.Production (inspected slaughter) doStocks, cold storage, end of month do

Miscellaneous meats doBeef and veal:

Consumption, apparent thous. of lb. .Price, wholesale, beef, fresh, native steers

(Chicago) dol. per lb . .Production (inspected slaughter).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 doProduction (inspected slaughter) do

Pork:Prices, wholesale (Chicago):

Hams, smoked dol. per lb_.Fresh loins, 8-10 lb. average do

Production (inspected slaughter) .thous. of lb. .Stocks, cold storage, end of month do. . .

Lard:Consumption, apparent doPrices, wholesale:

Prime, contract, in tierces (N. Y.)dol. per lb .

Refined (Chicago) do . . . .Production (inspected slaughter) -thous. of lb..Stocks, cold storage, end of month do

POULTRY AND EGGS

Poultry:Price, wholesale, live fowls (Chicago)

dol. per lb .Receipts, 5 markets thous. of lb.Stocks, cold storage, end of month do

Eggs:Price, wholesale, fresh firsts (Chicago) t

dol. per doz.Production millions.Stocks, cold storage, end of month:

Shell thous. of cases..Frozen thous. of lb.

TROPICAL PRODUCTS

Coffee:Clearances from Brazil, total.-thous. of bags

To United States do . . .Price, wholesale, Santos, No. 4 (N. Y.)

dol. per lb .Visible supply, United States, thous. of bags..

Sugar, United States:Raw sugar:

Price, wholesale, 96° centrifugal (N. Y.)dol. per lb.

Refined sugar, granulated:Price, retail (N. Y.) do . . .Price, wholesale (N. Y . ) . . do

MISCELLANEOUS FOOD PRODUCTS

Candy sales by manufacturers..-thous. of dolFish:

Landings, fresh fish, prin. ports, -thous. of lb..Stocks, cold storage, end of months do

Gelatin, edible:Monthly report for 7 companies:

Production . . .doShipments _ doStocks -. do

3,675

13.85

12.8

1,784151

15.22

(a)

1,603925100

.212421,212

81, 383

65,9297,857

1,115,854

.293

.270853, 729515,499

.139

.146191,028220,192

.25014, 74225,193

5,356

8,995322, 382

1,114860

.134627

.037

.066

.055

24,837

57,446

2,896

14.19

16.3

1,832153

14.75

(a)

1,4471,531

823112

632, 756

.210609,84081,556

58, 96458,8995,313

755, 213861, 804

.295

.293654, 697522,173

85, 093

.127(°)

151,017102,260

.20632, 49379,200

.3044,745

7,935278,499

453

.1341,079

.037

.066

.055

19,177

49,19563,411

1,8602,1513,528

2,452

14.25

16.6

2,138172

14.18

12.52

1,4031,447729109

606, 544

.209606, 51682,647

66, 73466,9165,487

729, 544773, 247

.295

.294582, 774433, 547

86, 356

.128

.139139,04298,349

.20934, 43579,346

.3164,095

7,754290, 529

560418

.134973

.037

.066

.055

20,136

48,88781,496

1,9622.2923,198

2,187

14.37

16.9

2,772

488

14.60

12.94

1,3261,32960794

614, 900

.210613,62083, 288

70, 79072, 8217.602

640,169642,827

.303

.298496, 360336, 634

82,097

.129

.139106, 66085,274

.22437,30786,645

.3373,547

6,751272,042

269136

.134795

.037

.066

.055

23,962

49, 307100, 088

1,7152,1302,783

2,529

14.45

16.4

3, 657789

14.16

12.89

1,4061,449519

634, 822

.210641,53195,146

83,40786,98211, 260

687,628720.437

.325

.310557, 953270, 287

87,170

.129

.139118,23662,143

.23046,666115,505

.3513,019

5,421234,876

519

.134539

.037

.068

.055

29, 234

40,021109,428

1,7121,9072,588

2,687

14.98

18.2

3,7411,002

14.30

12.20

1,4131,53252172

675, 290

.210686,028116,892

84,00490, 73317,896

653,932755, 565

.325

.311590, 541257,445

66, 631

.136

.142119,97857, 547

.21058, 910161,011

.3902,725

3,117180, 329

716508

.134381

.037

.068

.055

35,665

38, 659115,128

2,1282,0502,666

3,310

13.96

17.7

2,780465

14.53

12.35

1,4041,55357973

535, 969

.210548, 612130, 454

72, 38082, 54726, 462

795,162922, 019

.293

.284721, 781291, 841

108,432

.139

.146145, 57857,434

.20978, 661193, 263

.3902,558

1,170126,321

510384

.134361

.037

.055

32,099

28.449114,198

2,2172,3392,544

4,225

14.01

16.5

2,379202

15.39

13.12

1.5571,887829

557,014

.216547,100127,034

76,83987,88134,819

923, 2821,251,573

.293

.284952, 397490,476

153,448

.139

.146218,10791,333

.23464,495187,943

.3903,006

27382,948

506378

.134703

.037

.068

.055

32, 741

13, 370105, 343

2,0142,0542,504

3,431

14.78

16. 0

1,939178

15.86

13.59

1,4041,63291381

546, 821

.220522, 960107,185

58,87771, 22524, 885

797,9851,037,942

.293

.284793, 048588,419

125, 961

.139

.146178,549111, 867

.24528,484142,002

.3843,769

21459, 781

414248

.134247

.037

.055

28, 212

15, 73374,949

1,9131,9272.490

2,815

15.35

16.2

1,671191

15.91

14.26

1,2131,38095684

499,481

.220489,664102,246

52,42463,41219, 748

660,876826, 672

.293

.284638,132627,399

100, 203

.139

.146137,304122,240

.24519,009101, 741

.3554,577

97456, 508

732682

.134554

.037

.068

.055

29, 676

'17,53252, 902

2,0782,1472,421

3,027

15.59

15.5

1,738221

16.24

14.91

1,3741,49090979

534,497

.220534,14797, 736

56, 57164,80412, 571

783,126891,478

.293

.284703, 700591, 597

84, 976

.139

.146136, 444128, 264

.24514, 29058, 079

.3746,462

3,23699,180

591471

.134383

.037

.068

.055

33,831

25,90629, 782

1,9611,8632,519

2,844

15.13

14.3

1,603139

15.98

14.42

1,3201,38486486

475,877

.220466,85892, 981

59, 27964,10111, 649

784, 700853, 259

.293

.284670, 622524, 049

72, 411

.139

.146132,836149,141

.2469,45232, 513

.3726,727

6,227172,279

615515

.134530

.037

.068

.055

32,139

30, 43421, 371

2,0462,2142,352

3,321

14.44

13.4

2,074'194

15.82

14.07

1,3971,544'880-94

482, 234

.220459, 331' 90, 060

65, 38069, 941

' 10, 284

849, 5211,015,157

.293

.284771, 300

• 519,798

105,244

.139

.146177, 699166,129

.2509,469

• 20,963

.3796,506

' 8, 266251,526

144137

.134646

.037

.067

. 055

26,997

34,13334, 388

2,1502,0712,431

* Revised.° No quotation.X Data compiled by the Department of Labor from a trade journal have been substituted, beginning in the May 1943 issue, for the Department of Agriculture's series

formerly shown which has been discontinued; except for the difference in source, the series is the same as that published in the 1Prior toJanuary 1943, data are as of the 15th of the month.

the 1942 Supplement.

Revisions beginning February 1942 are in the March and April 1943 issues; earlier revisions are avail-jaiiuoi j J.W±O, \xa\jd, aLV as ui mo lutii ui LUG UIUJJ.HI.

fRevised series. The hog-corn ratio has been revised beginning 1913it. The series for feeder shipments of sheep and lambs has been revised beginning Jan. 1941 to include data for Illinois; revisions as aro follows (thousands ofable on reques . . ~

animals): 1941—Jan., 136; Feb., 145; Mar., 134; Apr., 56; May , 141; June, 155; July, 196; Aug., 471; Sept., 861; Oct., 1,029; Nov., 236; D e c , 129; monthly average, 307.not shown above—Jan., 147; Feb. , 91; Mar., 105; Apr., 159; May , 206; monthly average, 332.

1942,

S-28 SUEVEY OF CURRENT BUSINESS August 1943


1943

June

1942


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary



TOBACCOLeaf:

Production (crop estimate) mil. of lb__Stocks, dealers and manufacturers, total, end

of quarter mil. of lbDomestic:

Cigar leaf doFire-cured and dark air-cured doFlue-cured and lieht air-cured doMiscellaneous domestic do

Foreign grown:Cigar leaf doCigarette tobacco do

Manufactured products:Consumption (tax-paid withdrawals):

Small cigarettes millions,.Large cigars thousands_.Mfd. tobacco and snuff thous. of lb_.

Prices, wholesale (list price, composite):Cigarettes, f. o. b., destination, -dol. per 1,000..Cigars, delivered, . . do

Production, manufactured tobacco:Total thous. of lb

Fine-cut chewing doPlug doScrap chewing doSmoking _.doSnuff doTwist . do . .

31,397

20, 894449, 641

23, 246

6.006(2)

3,177

426280

2,3664

2278

20, 004532, 39027,807

5.76046.592

28, 207481

4,8784,047

14,9123, 366

522

20, 875510,823

27, 013

5.76046.592

29,443446

4, 9335, 243

15, 0253, 264

534

20,941498, 872

25, 329

5.76046. 592

26, 475437

4, 7494, 724

13,2592,799

506

3,260

381249

2,5193

2485

21, 978519,976

27, 329

5. 760

27, 535437

5,1284, 260

14. 0353,169

507

23, 075633, 35030,956

5. 760

29, 845426

5, 0364, 624

15,9803,252

526

20, 447474. 348

25, 882

6.006

28, 209425

4, 6864,033

15, 2473,297

522

1 1 , 417

3,434

337242

2,7523

2277

19, 716685, 00224,081

6.006

25, 636429

4,0613. 795

13,0463,783

522

20, 370436, 744

25, 297

6.006

26,273413

4,6843,676

13,3173,681

503

17, 678410. 599

22,691

6.006

24, 857356

4,6083,907

11, 6633,824

500

3,301

376287

2.5443

2268

20,612427, 836

26, 856

6.006

29, 266399

5,3684,150

14, 4474,344

559

19, 943451. 89925,135

6.006(2)

18, 476441,372

23, 906

6.006(2)

LEATHER AND PRODUCTS

HIDES AND SKINSLivestock slaughter (Federally inspected):

Calves... thous. of animals..Cattle . do... .Hogs __._ ..doSheep and lamb do

Prices, wholesale (Chicago):Hides, packers', heavy, native steers

dol. per lb_.Calfskins, packers', 8 to 15 lb. . . _.do.__.

LEATHERProduction:

Calf and kip . . . thous. of skins..Cattle hide thous. of hides-.Goat and kid thous. of skins-.Sheep and lamb do

Prices, wholesale:Sole, oak, bends (Boston)f dol. per lb..Chrome, calf, B grade, black, composite

dol. per sq. ft..Stocks of cattle hides and leather, end of

month:Total thous. of equiv. hides .

Leather, in process and finished doHides, raw do

LEATHER MANUFACTURESGloves and mittens:

Production (cut), total dozen pairs..Dress and semidress doWork do

Boots, shoes, and slippers:Prices, wholesale, factory:

Men's black calf blucher dol. per pair..Men's black calf oxford, corded tip doWomen's plain, black, kid bluchers t--do.-_.

Production, boots, shoes, and slippers:Total thous. of pairs..

Athletic doAll 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 doWomen's do

Slippers and moccasins for housewearthous. of pairs..

All other footwear do

327708

5, 6501,594

.155

.218

1,0072,1073,2124,927

.440

.529

10,7557,2973,458

6.754.603.50

4751,0394,5541,481

.155,218

1,0312,5493,4984,514

. 440

12, 9308,9513, 979

289, 850178, 452111,398

6.754.603.50

39, 694492395555

33,4113,675

1,4672,1243, 6038,263

14, 280

3, 8231,018

4611,0483,8861,705

.155

.218

1, 0532,6163,0454,147

.440

.529

12, 4858,7893,696

295, 243177, 707117, 536

6.754.603.50

41, 800460147671

36, 0223,763

1,5712,1613,6028, 552

16, 374

3,850650

4601,1033,2231,840

.155

.218

1,0932,4022,4334,287

.440

.529

12,5198,6393,880

272, 256159, 056113, 200

6.754.603.50

38, 812424175613

33, 0543,879

1,4012,1363,2247,410

15, 003

4,083462

5131,1593,8432,223

.155

.218

1,0292,4012,7354,150

.440

.529

12, 5908,6233,967

268,191150, 656117, 535

6.754.603.50

37,119460227727

31, 0923,333

1,3792,0793,0807,561

13, 660

4,219395

5781,2804,2182,344

.155

.218

1,0732,6472.9334,462

.440

12, 5978,6803,917

295. 715166, 831128, 884

6.754.603.50

H9, 986475368

1. 00733. 0413,960

1, 5492.0483,2598,31013,916

4,447647

5011,0185,0232,126

.155

.218

1,0092, 4602,6604,860

.440

.529

12, 4298,6523,777

260, 337146, 021114, 316

6.754.603.50

35, 247415305901

28, 9743,424

1,1642,0032,7437,11912, 521

3,989664

476

6,7782,175

.155

.218

1,0452,6473,1694,543

.440

.529

12, 2258,5913,634

274, 695156, 680118,015

6.754.603.50

38, 501453317

1,00332, 3513,831

1,3232, 1013,2367, 81414, 047

3,682695

340928

5,4311,724

.155

.218

9692,4513,0174,844

.440

.529

11,9648,4203,544

6.754.603.50

37, 504341899801

31, 9923,913

1,6302,0952,7737,08614, 496

2,749722

331854

4,3351,499

.155

.218

9732,4362,9845,023

.440

.529

11,8278,1743, 653

6.754.603.50

37, 797327

1,188700

31, 7774,002

1, 4812,0192,7977,23514, 244

3,053751

410923

4,6611,495

.155

.218

1,0822,5163, 5975,027

.440

.529

11, 5907,9863,604

6.754.603.50

41, 945367

1,380738

34,8114,090

1,4862,2832, 9667,77516, 211

3,5781,071

365796

4, 4631,458

.155

.218

9862,4013,3834,918

.440

.529

11,1977,7173,480

6.754.603.50

40, 657-322

•" 1, 624'871

33, 503r 4, 278

1, 578' 2, 129r 3, 0617,819

' 14, 638r 3, 795

'542

328774

5,3571,622

.155

.218

923r 2, 2442,9834,991

.440

.529

• 11,087r 7, 5223,565

6.754.603.50

36, 298248

1,570695

29, 3863,995

1,4682,0112, 5256,899

12, 487

3,993405

r Revised. ! December 1 estimate. 2 Not available; data are being revised. 3 July 1 estimate.fRevised series. The price series for sole oak leather is shown on a revised basis beginning with the October 1942 Survey; revisions beginning July 1933 are available on

request. The shoe price series for plain, black, kid blucher has been substituted beginning in the June 1943 issue for the colored, elk blucher series formerly shown; data be-ginning 1940 are shown in footnote marked " t " on p. S-28 of that issue.

August 1943 SURVEY OF CUEEENT BUSINESS S-29


1943

June

1942


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary


LUMBER AND MANUFACTURESLUMBER—ALL TYPES

National Lumber Manufacturers Assn.:fProduction, total _ mil. bd. ft.

Hard woods do.Softwoods .-- do

Shipments, total doHardwoods ._ _ doSoftwoods .-do

Stocks, gross, end of month, total do_._Hardwoods _._ doSoftwoods do—

FLOORING

Maple, beech, and birch:Orders, new M bd. ft.Orders, unfilled, end of month doProduction . - doShipments doStocks, end of month. do.-.

Oak:Orders, new .. .doOrders, unfilled, end of month doProduction doShipments -doStocks, end of month.. do

SOFTWOODSDousrlas fir:

Prices, wholesale:Dimension, No. 1, common, 2 x 4—16

dol. perM bd. ft-.Flooring, B and better, F. G., 1 x 4, R. L.

dol. per M bd. ft_.Southern pine:

Orders, newf. ...mil. bd. ft..Orders, unfilled, end of month doPrices, wholesale:

Boards, No. 2 common, 1x8dol. per M bd. ft..

Flooring, B and better, F. G., 1 x4--doProduction!- -mil. bd. ft..Shipments! .doStocks, end of month do

Western pine:Orders, new doOrders, unfilled, end of month doPrice, wholesale, Ponderosa, boards, No. 3

common, 1 x 8 dol. per M bd. ft..Production f mil. bd. ft..Shipments f doStocks, end of month f do

West coast woods:Orders, new f doOrders, unfilled, end of month. doProduction f doShipments f ...doStocks, end of month do.-..

Redwood, California:Orders, new , M bd. ft..Orders, unfilled, end of month -doProduction __ doShipments doStocks, end of month. .do

FURNITUREAll districts:

Plant operations percent of normal..Grand Rapids district:

Orders:Canceled percent of new order..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--Dming-room chairs, set of 6— d o . . . .Kitchen cabinets doLiving-room davenports do

Steel furniture (see Iron and Steel Section).

2,602402

2,2002, 583

4] 62,1673, 6251,1682,457

4,4007,5003, 6004,5004,500

19,13531, 69915,75822,14416, 679

32.340

44.100

612709

33. 00055. 000

629670544

556577

33.36645544967

7531,111

705716505

73, 863118,148

38, 48942, 62494,881

65.0

6.021

10866.0

21

100.9118.9102.60)

2,966423

2,5433,148

5012,6475, 5461,8463,700

7,8758, 9507, 6257,675

12,100

17,91130, 47930, 56224, 92072, 341

32. 340

44.100

836871

30. 00055.000

795852881

664671

31.51691628

1,284

8671,067

806887756

44,63165,35941,66643,307

213,124

78.0

8.02150

75.020

101.0118.9102.6104.2

3,091465

2,6263,334

5382,7965,2951,7/33,522

7,3258.6507, 5007, 675

12,000

17, 61624,95725, 49121,07176, 763

32. 340

44.100

866840

30.00055.000

847897831

597626

31.36695642

1,337

1,0751,171

818945622

50,04773,13742, 00846, 673

207, 588

74.0

5.02352

73.019

101.0118.9102.6104.2

2,980471

2 5093 100510

2,5905,1641, 7343,430

6,9508,1006,8507,500

11,500

22, 72027, 77119, 28818, 90676, 422

32. 340

44.100

772793

30.00055.000

779819791

564578

31.53666612

1,391

8421,145820858572

58.13587,15438, 79048,647195, 721

72.0

4.02555

60.018

101.0118.9102.6104.2

2,896451

2, 4453,024

5232,5015,0621,6623,400

5, 9007,2008,0006, 950

12, 500

22, 60922, 63118, 63321,21473, 841

32.340

44.100

791794

30. 00055.000

757790758

586562

31.53637602

1,426

8471,150

812830578

44,98388, 08638,46248, 738

182,697

72.0

5.03063

51.020

101.0118.9102.6104.2

2,847442

2, 4052,988

5412, 4474,9141, 5633,351

6,0005,7006,5007,500

11,500

23, 24919, 10120,17426, 77965, 236

32.340

44.100

808818

30. 00055.000

758784732

640578

32. 01650615

1,443

7111,095

757768578

58,27890,99741,16351, 567

170,197

74.0

2.02658

58.026

101.0118.9102.6104.2

2,410410

2,0002,575

4902,0854,7771,4853,292

5,8505,5006,2506, 300

11, 275

18, 62619, 47618, 40018, 25163, 563

32.340

44.100

612736

30.00055.000

687694725

474566

31.38432486

1,389

6841,106

669673596

44,86891, 54235,39940,979

163, 457

73.0

8.02454

69.026

101.0118.9102.6104.2

2,105381

1,7242, 386

4341,9524,4291,4322,997

6,6006,1505,0505, 750

10, 650

17, 64120, 05318.00717,06464, 506

32.340

44.100

637726

30. 00055.000

662647740

439539

31.83343466

1,192

5801,057

524624497

38,86485,12833,57138,830

158,153

67.0

7.02246

73.025

101.0118.9102.6104.2

1,919387

1,5322, 225

4601,7654,1511,3602,791

6,9006,5505,5006,3009,800

15, 79720, 82415,94815,02665,428

32.340

44.100

721771

30.00055.000

635676699

370512

31.54244374

1,062

5321,063

476525474

42,18888,98431, 94635, 030

155,145

66.0

2.05685

71.021

100.9118.9102.6104.2

1,972382

1,5902,207

4251,7823,9341,3172,617

5,8507,4004,5005,0509,450

29, 61227,62615, 53519, 81051,153

32.340

44.100

653747

32. 00055.000

657677679

397542

31.36246366941

5291,045

506537463

46,17696,31931,19841, 734

144,593

67.0

5.02589

72.021

100.9118.9102.6104. 2

2,380420

1,9602, 550

4632.0873,7761,2842,492

5, 8507,0004, 6755,9008,350

32, 29533, 63717,80626, 28442, 675

32.340

44.100

746771

32.00055.000

706722663

460565

31.47351438853

6591,006

695699463

67, 666110, 89537, 34351, 659

128,152

69.0

6.02391

74.022

100.9118.9102.60)

!

2,452390

2,0622,641

4582,1833, 6391,2162,423

6, 5758,0004,1505, 5756,750

31, 58437, 37317,10427, 84832, 931

32. 340

44.100

720748

32. 00055. 000

715733645

504587

31.59424482795

7701,048

713724504

34, 60893, 04037, 42048, 346

115,857

69.0

5.023

10074.0

19

100.9118.9102.60)

2,578390

2,1882,620425

2,1953,5901,1812,409

4,8507,5003,7005,1505,500

24, 57234, 70815,99425, 43723, 065

32. 340

44.100

694727

33. 00055. 000

655715585

491564

32.08585514

7811,105731721500

47,40790, 94935, 55147,856101, 246

66.0

4.020108

65.017

100.9118.9102. 60)

METALS AND MANUFACTURES

IRON AND STEEL

Iron and Steel Scrap

Consumption, total * thous. of short tons.Home scrap * doPurchased scrap * -do.. .

Stock, consumers', end of mo., total * do. . .Home scrap * __ do. . .Purchased scrap * do. . .

5,0002,7632,2374,2971,1853,112

5,0062,7922,2144,5791,2863,293

5,0152,8122,2034,7801,3373,443

4,9552,8462,1094,9931,3883,605

5,3423,0342,3085,5301,4604,070

4,9302,7962.1346,0781, 5444,534

5,0372,7792,2586,2741,6004,674

5,0312,8562,1756,2331,6534,580

4,6802,6002,0806,2091,6994,510

5,3613,0072,3546,1791,6884,491

5,1992,9382, 2616,3641,682

' 4, 571

5,2892,9902,2996,2791,6704,609

1 No quotation. p Revised.fFor 1941 and, in some instances, earlier revisions for the indicated lumber series, see pp. 27 and 28 of the March 1943 Survey: revisions in figures for January-April 1942

for total lumber and total softwoods (production, shipments, and stocks) and southern pine production, shipments, and new orders are given in note marked "f" on p. S-29of the July 1943 Survey.

*New series. For a description of the series on scrap iron and steel and pig-iron consumption and stocks and 1939-40 data, see note marked "*" on p. S-29 of the November1942 Survey; later data are available on p. S-30 of the April 1942 and subsequent issues.

S-30 SUEVEY OF CUKKENT BUSINESS August 1943


1943

June

1942


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary


METALS AND MANUFACTURES—Continued

IRON AND STEEL—ContinuedIron Ore

Lake Superior district:Consumption by furnaces, .thous. of long tons_.Shipments from upper lake ports do.--_Stocks, end of month, total do

At furnaces doOn Lake Erie docks do

Pig Iron and Iron ManufacturesCastings, malleable:

Orders, new, net short tons..Production doShipments do

Pig iron:Consumption* thous. of short tons..Prices, wholesale:

Basic (valley furnace) dol. per long ton..Composite doFoundry, No. 2, Neville Island* do

Production* thous. of short tons..Stocks (consumers' and suppliers'), end of

month* thous. of short tons._Boilers, range, galvanized:

Orders, new, net number of boilers..Orders, unfilled, end of month doProduction doShipments doStocks, end of month do

6,94011,864

23, 2732,825

83, 81569,09270, 565

23. 5024.1724.004,836

89, 82199, 67983, 59682, 27914, 539

Steel, Crude and SemimanufacturedCastings, steel, commercial:

Orders, new, total, net short tons..Railway specialties do

Production, total doRailway specialties do

Steel ingots and steel for castings:Production thous. of short tons..

Porcent 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 Corporation, shipments of fin-ished steel products thous. of short tons.J

Steel, Manufactured ProductsBarrels and drums, steel, heavy types: 1

Orders, unfilled, end of month thousands..Production doShipments thousands..Stocks, end of month do

Boilers, steel, new orders:Area thous. of sq. ft..Quantity number. .

Porcelain enameled products, shipments!thous. of doL.

Spring washers, shipments doSteel products, production for sale:0

Total thous. of short tons..Merchant bars doPipe and tube doPlates doRails doSheets doStrip:

Cold rolled doHot rolled do

Structural shapes, heavy doTin plate doWire and wire products do

7,02795

.0265

34.00.021018.75

1,553

NONFERROUS METALSMetals

Prices, wholesale:Aluminum, scrap, castings (N.Y.) dol.per lb_.Copper, electrolytic (N. Y.) doLead, refined, pig, desilverized (N.Y.)..doTin, Straits (N. Y.) do....Zinc, prime, western (St. Louis) do

Miscellaneous ProductsBearing metal (white-base antifriction), con-

sumption and shipments, total (59 manufac-turers) thous. of lb.

Consumption and shipments, 37mfrs.:Consumed in own plants doShipments do

Sheets, brass, wholesale price, mill.. dol. per lb__.

5,0501,445

2,377

5,062489488

1,002162676

107280220364

.0738

.1178

.0650

.5200

.0825

4,136

6011,989.195

7,03412, 62530,93127, 6643,267

55, 03259, 99059,144

4,869

23. 5024.2024.004,936

1,257

30,48152,65239,17140, 53811,015

208,88511, 218

132,05321,658

7,01596

.0265

34.00.021018.75

1, 6521,7491,741

42

2,1301,162

4,239302

5,107439387990186642

76101469329362

.0875

.1178

.0650

.5200

.0825

3? 163

4631,646.195

7,17613, 40537, 32733, 2894,038

63, 65161,43459,120

4,959

23.5024.2024.005,051

1,296

22,95534, 67240.18140, 93510, 561

202,3343,610

135, 70016,251

7,14595

.0265

34. 00.021018.75

1, 766

1,4021,7601,760

42

2,2981,076

4,023324

7,15513, 23643, 23638,1245,112

63, 97856, 30456, 651

4,935

23.5024.2024.005,009

1,272

46, 02539, 32440, 45441,3739,646

141,239-13,480139,184

12,988

7,22895

.0265

34.00.021018.75

5,170392396

1,089188557

6589

470216348

.0875

. 1178

.0650

.5200

.0825

3, 605

6571,826.195

_n !

1,5061,5361,538

40

1,812

3,357317

5,048439404

1,062182521

6882

439194345

.0875

.1178

.0650

.5200

.0825

2.907

6491,310.195

7,14011,84848, 42242, 5485,874

87, 69761,02158, 977

4,836 |

23.5024.2024. 004,937

1,284

41, 77935, 87943, 41045, 2247,832

177,47813, 546139,77412,051

7,05896

.0265

34.00.021018.75

1,789 ! 1,704

1,7041,8381,823

56

3,9562,338

3,104321

4,999449405

1, 035178583

7489439140346

.0875

.1178

. 0650

.5200

.0825

3,296

6991,453.195

7,59911,41752,66745, 8836,784

70, 90768, 25165, 457

5,145

23.5024.2024.005, 237

1,266

43, 82942, 59735, 68137, 1116,402

179, 5377,708

152,08013,979

7,580100

.0265

34.00.021018.75

2,7721,086

3,195382

5,141494427

1,062186711

7592417113348

.0857'. 1178.0650. 5200.0825

7,4567,582

53, 70346, 5527,151

7,759636

47, 42440,6046,821

7,7650

39, 74333, 8155,927

74,080 ! 93,82459,287 66,17758,484 I 63,703

4,883 | 5,001

23.50 I24.20 I24.00 !5,084

1,334

40,13045, 73737, 35336, 9906,765

23.5024. 2324.005,201

1, 425

33, 70036, 47442, 91342, 9636, 715

73, 52463, 57259, 557

5,057

23.5024.2324. 00

' 5,194

1,458

55, 23956, 6S741, 26640. 9267, 259

7,1040

32, 74327, 6425,101

173, 2859,385

140,39911,133

7,18098

.0265

172,26315,446

143,86010, 785

7,30597

,0265

'21323

•"15411

7

,130,020,736,440

,42497

0265

34.00.021018.75

1,666

34. 00.021018.75

88,97066, 40167,895

4,661

23.5024.2324.004,766

1,534

58, 64666, 70447,91948, 6296,549

191,21717,658151,53012, 832

6,826

. 0265

34.00 ; 34.00.0210 ! .021018.75 ; 18.75

1,1,1,

215498504

49

1,1,1,

671388386

49

2y\1,

696426419

56

1,914874

2,652336

4,716481410964175679

396101327

2,201819

2,489353

4,917493412

1,016169735

83115355127356

3,448 i1,269 j1,279 i

48 j

2.464 j917 |

2,460 '334

5,054525437

1,095180717

91111345157345

08131178065052000825

.0813

.1178

.0650

.5200

.0825

.0813

.1178

.0650

.5200

.0825

3,

1,

459

744760195

3.

1,

176

59662319")

3

1

605

528970195

3,453

6411.526.195

7,7230

25, 08821,1503,938

I

87,80978,14376, 526

5,219

23.5024.2324.005,314

1,512

68,05175, 76360,17758,992

7,734

202,731' 34,064176, 470«• 17, 777

7,670100

.0265

34.00.021018.75

1,850 1,686 | 1,692 j!

7,1861,955

18, 49715, 6822,815

74,14172, 55970, 744

4,954

23.5024.2324.005,035

1,486

76,19894, 31858, 84157, 6438,832

165. 792r 20,461161,403r 17, 467

7,374

7,37410, 97521, 29718, 5202,777

79, 98369, 95969,146

5,052

23.5024.2024.005,178

1,487

64, 27492,13770, 84566, 45513, 222

192, 53119, 951

163,81221, 424

7,545

.0265 !

34.00.021018.75

1, 772 1, 631

4,1391,5741,595

45

595732

2,324300

4,781457449

1,020165704

83108303152345

.0813

.1178

.0650

.5200

.0825

3. 687

5132,013.195

4,2012,0051,990

60

1,2591,043

2,603357

5,516580510

1,127172790

100124327185397

'4 ,793 1r 2, 132r 2, 108

86

557380

2,605348

5,132523512

1,068155701

98114312169357

.0813

.1178

.0650

.5200

.0825

4,175

5442,262.195

.0813

.1178

.0650

.5200

.0825

4, 351

6321,961.195

.0265

34.00.021018.75

1,707

5,7082,2332.233

83

r 5,839r 1, 364

2,472326

5,156501498

1,066154666

97111320203359

.0813

.1178

.0650

.5200

.0825

4,315

6552,058.195

••Revised. i Cancelations exceeded new orders by the amount shown above as a negative item.§Beginning January 1943, percent of capacity is calculated on annual capacity as of Jan. 1,1943, of 90,288,860 tons of open-hearth, Bessemer, and electric steel ingots and

steel for castings; earlier data are based on capacity as of Jan. 1 or July 1, 1942; see note in October 1942 Survey.ifCoverage increased in 1943; manufacturers reporting in 1943 accounted for approximately 98 percent of the total value of these products reported at the 1939 Census.•For data through March 1942, see the October 1942 and earlier issues of the Survey: April 1942 figures are available on request.tOf the 99 manufacturers on the reporting list for Jan. 1,1942, 24 have discontinued shipments of these products for the duration of the war.•New series. For sources of earlier data on pig iron consumption and stocks and a description of the data see note marked "*" on p. S-29. The new series on blast furnace

production of pig iron, including blast furnace ferro-alloys, is from the American Iron and Steel Institute and is approximately comparable with data from the Iron Age in the1942 Supplement (data in the Supplement are in short tons instead of long tons as indicated), but include charcoal furnaces; ferro-alloys produced in electric furnaces are notincluded; for 1941 monthly average from American Iron and Steel Institute and data beginning January 1942, see p. S-30 of the May 1943 Survey. The new pig iron price,f. o. b. Neville Island, replaces the Pittsburgh price, delivered, shown in the Survey prior to the April 1943 issue; 1941 average, $24.00; earlier data will be shown later.



1943

June

1942


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary


METALS AND MANUFACTURES—Continued

MACHINERY AND APPARATUS

Blowers and fans, new orders thous. or doL.Electric overhead cranes:

Orders, new doOrders, unfilled, end of month doShipments _ _._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 .doShipments.. doStocks, end of month .do

Mechanical stokers, sales:tClasses 1, 2, and 3 doClasses 4 and 5:

NumberHorsepower .

Unit heaters, new orders thous. of doL.Warm-air furnaces, winter air-conditioning

systems, and equipment, new ordersthous. of dol...

Machine tools, shipments * doPumps and water systems, domestic, ship-

ments: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 total .do

Electrical products:!Insulating 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, billings ____doPolyphase induction, new orders. .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, shipmentsshort tons..

Vulcanized fiber:Consumption of fiber paper thous. of lb__Shipments thous. of dol_.

413.6355.6609.2

2,106

479109,520

31,139280

11,712

(05,904

4,8731,441

22, 500

2,83534,1902,768

774.0884.4441.5

9,80919,1768,441

40,170

11.365

41998, 0274,507

5,463111,090

29,95886

22, 662

5,703

66161

312.3779.0

215.3

70, 5075,100

1,057,9544,116

7,85511,9323,225

13,494

1,3751,716

22,656

4,3031,378

4,05834,9582,722

800.8909.1474.0

8,48419,0008,660

39,122

7,040

428105,278

113, 596

42,932131

22, 459

5,797

90155

325.9627.0

223.4

24, 7962,133

4,557

8,05210,9493,4138,407

1,5492,050

21,449

4,0671,204

3,35535,072

2,701

510.8536.7433.0

8,10019,0668,03439,323

7,961

38990, 344

117, 342

32,163126

18, 610

6,417

151148

330.6805.4

198.5

31, 3102,378

4,475

7,7109,2723,85710,377

1,123

21,420

4,2191,351

13, 658

1,16032,8833,002

446.4452.4428.4

8,58918,4309,22536,858

8,723

37381,9916,094

5,956119,883

24,14868

20,052

5,494

205145

371.7366.7

212.8

26, 5282,237

965,1205,028

8,0888,2574,5844,341

1,0741,435

17,452

4,3641,581

2,17031,4363,030

540.6552.2505.5

10, 76120, 799

37, 416

5,548

43876,208

130, 008

26,192104

19, 792

5,243

221142

390.0322.0

186.0

20,2971,534

5,279

8,2877,2914,4333,614

9421,269

14,509

4,8321,614

1,22829,1182,912

338.8286.1497.7

7,94521,1387,60637,149

1,994

453109,598

120,871

7,04167

3,393

8,229

202144

376.0394.0

160.0

13,3211,357

5,163

7,4846,0985,3006,946

888978

12, 389

4,3141,465

10, 685

55126,4133,112

382.5319.8571.3

7,91020,7138,335

36, 513

1,447

39576,0875,282

5,452131,960

14, 305188

4,965

9,421

211146

388.0697.0

188.0

29,8791,845

1,095,5655,302

8,753

9,214

879928

12,126

4,7071,595

1,58125,3582,534

429.8394.9534.9

9,61722,8277,503

36,661

1,808

58878, 571

117,384

18,122163

8,106

8,318

178152

372.0653.0

104.0

10, 541

5,015

7,0796,7504,3363,267

1,2561,173

9,102

5,0561,650

50222, 6993,131

399.5348.1554.4

7,28524,1605,952

41, 221

2,183

682118, 531

114,593

25, 381159

7,311

7,309

151149

382.0661.0

105. 0

17, 2011,287

5,191

6,9827,8544,0824,794

9,613

4,5511,620

9,672

1,12820,8453,313

562.7538.6635.2

6,34723,1467,361

35, 429

1,960

687126,3184,014

2,630125, 445

• 28, 668190

9,514

5,913

132147

433.0639.0

138.0

16, 2651,197

831,4015,813

8,114

5,7086,298

9,463

5,0261,852

1,00517,1342,612

362.7297.7558.7

r 7,125r 24,351' 5,920

r 34,985

1,932

53297,953

118, 024

33,600224

8,772

6,101

114149

421.0356.0

'112.0

14,7651,157

5,850

7,9655,5866,4805,313

10,602

4,9241,613

33314,6542,713

348.9274. 3573.7

3,81622,1396,02834,137

1,926

51097, 529

113,710

32, 739182

11,183

6,503

103152

411.0471.0

113.0

9,205662

5,742

7,3886,8876,4417,362

7,907

4,9691,479

PAPER AND PRINTING

WOOD PULPProduction :f

Total, all grades short tons..Chemical:

Sulphate, total doUn bleached do

Sulphite, total doBleached . do

Soda doGroundwood do

Stocks, end of month:!Total, all grades do

Chemical:Sulphate, total. do

Unbleached . ..doSulphite, total do

Bleached. __ .doSoda do

Groundwood. do

727, 435

319,942264, 472210, 506135,14834,000

141, 770

102, 227

10,8947,963

27,97117, 8262,700

58,080

861,066

404,112341,677251, 380147,65134,946

155,326

166, 318

28, 52122,19039,61023,2634,064

92,694

774,014

370,810309,654224,179132,224

31, 099131,706

170,104

39,21535, 25841, 49226,892

3,61984,155

819,372

398,460329,413239, 660144,93033,284

130,761

185,828

61,57656, 98847,83831,9484,386

70,174

774,144

371,796299,910226, 093132,724

33, 391126,037

175, 241

72,81666,06741, 34525,9694,395

54,754

838,520

392,821317,980241,946147,97338,898

144,933

159,357

74,27467,11835, 74521,4344,392

42,404

763,414

348,313278,360216,902134,214

35,533143,421

149, 299

' 65,24856,48036,84320,136

3,71740,865

736, 670

332,679266,238208,883127,291

34, 794141,909

143,983

59,20550,25038,96321,382

3,52939, 624

755,069

349,217278,534208,302129,033

36, 716140,500

129,405

46,46437, 77635,69422,0893,398

40, 940

719, 634

331, 060271,264210, 685126, 549

33, 810133, 485

111,459

31, 58925, 07430, 33616,8983,175

43,048

793,998

367, 410304, 363215,849138, 335

36, 545151,169

97, 595

16, 50812,43228, 66617,7132,858

46, 435

770,921

-"355,324292, 973212, 331136,94635,000

r 146, 419

r 97, 722

r 14,91811,07425, 95116, 3672,558

r 51, 389

788, 486

368,032303, 550217, 313141, 75634, 947147,799

103,343

12, 6878,28428,35218, 6002,785

56, 785r Revised. l Discontinued by the reporting source.^Of the 101 firms on the reporting list in 1941, 20 have discontinued the manufacture of stokers; some manufacture stokers only occasionally.fRevised series. A new method has been employed in the construction of the indexes for electrical products to overcome a strong upward bias in the two series on orders

received, and, in addition, the number of products composing the individual indexes has been increased. For revised 1941 monthly averages see note marked " t" on p. S-30of the April 1943 Survey and for revised monthly data beginning November 1941, see p. S-30 of the January 1943 issue; earlier data will be published in a subsequent issue.Wood pulp production statistics have been revised beginning January 1940 and stocks beginning January 1942; for revisions through March 1942, see p. 30, table 8, of theJune 1943 Survey.

*New series. For 1940 and 1941 data for machine tool shipments and a description of the series, see p. S-30 of the November 1942 issue.



1943

Juno

1942


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary


PAPER AND PRINTING—Continued

PAPER

Total paper, incl. newsprint and paperboard:Production short tons._

Paper, excl. newsprint and paperboard:Orders, new ..short tons..Production _ _ .doShipments do

Fine paper:Orders, new doOrders, unfilled, end of month doProduction „ doShipments __ doStocks, end of month. do

Printing paper:Orders, new doOrders, unfilled, end of month __.doProduction.— .doShipments doStocks, end of month. do

Wrapping paper:Orders, new doOrders, unfilled, end of month doProduction _ doShipments ...doStocks, end of month do

Book paper:Coated paper:

Orders, new.,percent of standard capacity..Production ...doShipments do

Uncoated paper:Orders, new doPrice, wholesale, " B " grade, English finish,

white, f. o. b. mill.__ dol. per 100 lb._Production..percent of standard capacity..Shipments do

Newsprint:Canada:

Production short tons. _Shipments from mills doStocks, at mills, end of month do

United States:Consumption by publishers short tons..Price, rolls (N. Y.) dol per short ton..Production short tons..Shipments from mills doStocks, end of month:

At mills doAt publishers .doIn transit to publishers do

Paperboard:Orders, new .doOrders, unfilled, end of month doProduction do

Percent of capacityWaste paper, consumption and stocks:

Consumption short tons..Stocks at mills, end of month do

PRINTINGBook publication, total no. of editions..

New books doNew editions do

Continuous form stationery, new ordersthous. of sets.. .

Sales books, new orders thous. of books. _ ]

7.30

257, 845268, 990

79, 229

228, 45054.00

70, 27471, 944

10, 978347, 35062,197

672, 371580, 683627, 761

94

679531148

,088,223

423, 978485,029473,008

35, 47949, 48552,85050, 40346, 064

137, 68987,107

141, 595139,881100,832

167,470111,161191, 782187, 53780,963

30.237.035.1

71.1

7.3073.974.7

242, 762253, 283158, 888

222, 24450.0079,38678,413

17,049402/40136,442

466,173223,809523,808

69

296,938414,775

637537100

990,386

402,993434, 626431, 207

39, 48640, 78246, 76345, 07147,002

134, 50878,511

133, 798141, 39492,881

160,105100, 290175, 557167, 49786,815

32.330.732.7

74.9

7.3072.776.7

241,178243,620156,446

210, 54950. 00

76, 95276,181

17,820418,98535,454

464,293213,443478,808

68

283,040428,067

709537172

1,076,589

425, 825463, 337437,946

42,80536, 35445,91744, 28548,775

143,83780, 572

143,658141,88594,650

158,61893. 863

182,836164,092102,317.

36.434.035.8

78.6

7.3079.279.5

253,239255, 563154,122

223,18950.00

79,88579, 556

18,149430.409

40, 270

523,648212,953529,214

75

304,215422,958

809642167

1,067,024

452, 683457, 365452, 323

43, 61235, 65745, 36044,44849, 553

153,12282, 249

148, 520151, 884

91, 502

165, 76999, 334

169, 643161, 266111,204

47.445.2

7.3085.3

257, 618292, 405119,335

231, 69150. 00

77,96283, 560

12, 551455,263

52, 538

555,071236,208535,850

76

312, 279420,465

739582157

1,205,873

554,191514, 231511,460

64,58844,98352, 78753, 93548,614

192, 28399,025177, 981175,19490,829

195, 215116,100183,488180,037116,007:

59.751.351.8

105.3

7.3096.395.0

271,555295, 62595, 265

254,34950. OP84,21785,458

11,310470,85258,655

660 89,0272,006607,425

81

343,460424,451

969821148

1,097,445 ,1,107,547

188,437 i 150,392 j 227,722 1238,529 1283,108 1236,36220,051 ! 16,4.50 ! 17,235 i 16,047 i i 21,602 j i 23,229

510,260467,090471,924

52,10648,10148,27447,88549,017

174,633111,631160, 457164, 26386,651

187,773138,215163,393164,521118,742

62.750.354.0

97.5

7.3090.792.9

251,147255,08791, 325

260, 54250.0075,06576, 207

10,168447,39660,108

613, 746321,885555, 290

82

316,454408, 753

842693149

497,048473,162490, 217

50,49549,89248,54549, 57845, 692

174,515121,551157,532167,96375, 524

174,198140, 841166,015172,137112,061

55.352.653.0

97.5

7.3086.191.4

244,191243, 53091,986

252,39950.0074,65575, 222

9,601429, 25550,094

615,184379, 573559,730

77

331,895394,527

702594108

1,131,925

513,361485, 757482, 607

56,06653,13250, 21351, 55342, 616

164, 400119,959164, 468165, 93873, 233

190,145156,074173,517179,100107, 581

53.754.455.9

7.3089.689.9

233,544215,016110,514

226, 74150.00

69, 79269,691

9,702391,10266, 707

629,900413,084576,376

86

344,388374,301

67160-269

1,096,530

486,846463, 535469, 454

53,10958, 96047,37348, 23141,851

162, 272124, 841158, 588156, 64176, 533

179, 799166, 202165, 274168, 757104,312

60.855.359.5

92.6

7.3093.690.4

221,807222, 383109, 938

208,14350.0064,35860,147

13,913381, 46663,166

616,167454,308568,637

88

350, 885355,044

731528203

230,646 1209,460 1250,41016, 726 I i 19,196 i 25, 707

1,250,818

•549,592509,204• 518, 986

68, 82675, 41852, 25953, 48140, 661

180,176134,564172, 064169,41374,186

200, 667171,848182, 732193,24795, 227

1,202,553

••498,700•484,104493,510

' 60,130r 80, 386r 50,679' 52, 592r 38,437

161,950132,096162,267163, 60172, 200

183, 845174, 557173, 524179,71789, 322

1,211,728

489,125487, 760495, 400

59, 56087, 39352,03553, 31937, 768

157,483128,136159,413161,25270, 367

183, 022174,858180,155183, 02685, 731

62.659.559.7

94.1

7.3092.592.1

246, 855248, 469107, 324

237, 11154. 00

71, 35771, 824

13, 446377, 79053, 774

723, 296511, 220670, 257

94

393, H34341,097

668538130

451,613i 20, 604

66.561.259.3

89.0

7.3090.190.9

7.30

229,573 : 254,046243,813 ! 257,75694,084 90, 374

243, 28154.00

68,00170,368

11,079361,55357, 680

248, 25554.00

68, 70767,138

12, 648339. 29958, 820

686,179525, 287650,448

94

8693565128

238, 720

690, 364545, 673655, 261

96

(2)

848701147

PETROLEUM AND COAL PRODUCTS

COALAnthracite:

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:

Industrial consumption and retail deliveries,total thous. of short tons..

Industrial consumption, total ...doBeehive coke ovens doByproduct coke ovens... doCement mills doCoal-gas retorts doElectric power utilities doRailways (class I) doSteel and rolling mills .doOther industrial .do

Retail deliveries doOther consumption, coal mine fuel doPrices, composite:

Retail (35 cities) dol. per short ton..Wholesale:

Mine run. . . ..doPrepared sizes do

10.7953,227

186

14

42, 77135, 271

6727,178

47312*

6. 0239, 855

82410,1207,500

168

5.0555.324

12.4810.346 |5,122 j

140

28

40, 26933, 289

1,0597,229

640139

5,1758,921

7669,3606,980

257

9.49

4.7754.939

12.4810. 3465,341

181

35

39,85634,306

1,0807,504

660125

5,7129,077

7589,3905,550

253

9.52

4.7824.989

12.4810. 3445,180

289

39

40,29634,686

1,0877,508

663139

5,6729, 368

7699,4805,610

250

9.52

4.7875.021

12.4810. 3445,426

472

45

42,22835, 038

1,0887,294

678137

5, 6619,465

7759,9407,190

258

9.54

4.7975.050

12.4910. 3445,101

608

60

45, 50037,800

1,1267,542

714149

5,78710, 279

84311,3607,700

247

9.54

4.8055.097

12.4910. 3444,795

792

64

45,40737, 707

1,0417,334

678146

5,57010, 271

86711,8007,700

229

9.55

4.8155.131

12.4910. 3834,611

798

33

52, 27241,142

1,0717,583

645155

6,15911,1551,034

13,34011,130

234

9.56

4.8585.177

13.1310. 6614,314

542

21

53,40741,437

1,0447,682

571157

5,98111,4431,049

13,51011,970

228

9.63

4.8665.180

13.14 13.1310.801! 10.8115,092 5,824

379

19

49, 21738, 207

1,0556,969

547137

5,37010, 5681,021

12, 54011,010

237

216

15

53, 38741,514

1,1867,647

552149

5,96511, 6891,046

13, 28011,873

273

9.83

4.949 '5.0215.208| '5.239

13.1410.8115,437

173

48,15238, 5721,0807,494

468139

5, 49310, 761

9372,2009, 580

242

9.86

' 5. 033r 5. 276

13.1610.8125,240

173

18

' 45. 369• 37, 449r 1, 034

7,666495

' 1365, 500

p 10,751'877

10, 9907,920

232

5.045' 5. 317

f Revised. * Beginning September 1942, 3 companies, formerly accounting for about. 7 percent of the total, discontinued reporting.3 Discontinued by the reporting source.


Monthly statistics through December 1941, to-gether with explanatory notes and referencesto the sources of the data. may be found in the1942 Supplement to the Survey

1943

June

1942


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary


PETROLEUM AND COAL PRODUCTS—Continued

COAL—Continued

Bituminous—Continued.Production! 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

Price, beehive, Connellsville (furnace)dol. per short ton..

Production:Beehive thous. of short tons..Byproduct doPetroleum coke do... .

Stocks, end of month:Byproduct plants, total do

At furnace plants.. doAt merchant plants do

Petroleum coke doPETROLEUM AND PRODUCTS

Crude petroleum:Consumption (runs to stills)...thous. of bbL.Price (Kansas-Okla.) at wells...dol. per bbL.Production!- thous. of bbl__Refinery operations ...pet. of capacity..Stocks, end of month:

Refinablein U. S.f --thous. of bbL.At refineries doAt tank farms and in pipelines doOn leases! do

Heavy in California. doWells com pleted f number..

Refined petroleum products:Gas and fuel oils:

Consumption:Electric power plants thous. of bbL.Railways (class I) do

Price, fuel oil (Pennsylvania)._dol. per gaL.Production:

Gas oil and distillate fuel oilthous. of bbL.

Residual fuel oil doStocks, end of month:

Gas oil and distillate fuel oil doResidual fuel oil .do

Motor fuel:Prices, gasoline:

Wholesale, refinery (Okla.).dol. per gal..Wholesale, tank wagon (N. Y.) doRetail, service stations 50 cities.—_do-..-

Production, totaltt thous. of bbl.-Straight run gasoline!-.-. doCracked gasoline ..doNatural gasolinett do

Natural gasoline blended doRetail distribution!. mil. of gal..Stocks, gasoline, end of month:

Finished gasoline, total thous. of bbL.At refineries do

Unfinished gasoline - ..doNatural gasoline do

Kerosene:Price, wholesale, water white, 47°, refinery

(Pennsylvania) dol. per gaL.Production thous. of bbL.Stocks, refinery,"end of month do

Lubricants:Price, wholesale, cylinder, refinery (Penn-

sylvania) dol. per gal-Production thous. of bbL.Stocks, refinery, end of month do

Asphalt:Production doStocks, refinery, end of month. _ do

Wax:Production thous. of lb.Stocks, refinery, end of month do

Asphalt prepared roofing, shipments:Total thous. of squares..

Grit surfaced dooReady roofing do.Shingles, all t y p e s d

34, 650

74,02867,1787,141

648352

18, 82111,964

96227,290

6,850

6.500

4285,062

843602241

1.110

1,156

.059

. 161

.146

.070

.160

do. :l:T

48, 220

73, 27165, 6919,866

972369

16, 87612, 2231,145

24, 2407,580

6.000

'719r 5, 105

88

1, 405969435182

105,3761.110

108, 59577

251,42147, 551

191.35312, 51710, 892

726

9236,427

.059

15,21028, 352

32, 50166,341

.056

.160

.15445,88717.40422, 423

6,5584,423

'2 ,083

80,08055,213

7,4376,571

.0644,9296,940

.1603,2318,756

517,800513,800

57,96069,720

4,3971,2861,5281,582

47,832

77, 58369, 0039,9221,040386

17, 33912.8981,178

26, 2408,580

6.000

6885, 278101

1,469999470175

111,5551.110

111. 782

245, 02646, 919185.79712,31010, 950

833

1,2116,747.059

16,14930,096

37, 72966, 935

.058

.186

.15349,30219,08823, 9466,8044,577

'2, 178

71,65748,5857,7896,588

.0635,1347,480

.1603,1338,945

629, 300436,000

50, 68068,040

4,9081,7261,7511,431

47,851

82, 68673,18610, 2381,074402

18,16513,4621,235

28, 6109,500

6.000

6925,315111

1,5641,026539179

114,1351.110

120, 42980

244,12546, 435184, 75712, 93310, 706

745

1,3496,985.059

17,05230,446

42,91867,613

.059

.166

.14451,10519,19225, 3877,0284,909' 1,994

71,40347, 9248,1236,405

.0635,3408,261

.1603,1419,301

619,500396, 500

61,04077,000

5,1521,8231,9181,411

49, 843

87,31177. 26110, 5661,081409

19, 87213, 5421, 251

30, 54010, 050

6.000

5,163108

1,6141.021593173

113,4741.110

115, 80183

240, 04344,569182,82512, 64910,167

836

1,4317,131.059

18,06230,402

45,81769,264

.059

.161

.14449, 38919,08823,8826,9985,108'2,025

69,29346, 7368, 8536,056

.0635,4218,203

.1602,9519,278

631,800366,900

57,12077,840

5,4401,8022,0911,547

51, 791

89, 93779,05710,9981,092413

20,45213,6631.239

31, 20010, 880

6.000

7185,339123

1,606955651184

116, 3811.110

120,31182

237, 36143, 552181,20312, 60610, 868

817

1,3317,798.059

18,85831, 239

49, 70168,873

.059

.161

.14451,49519, 99724,9057,2565,455'2,017

67,66946,1588,9535,424

.0635, 907

.1603,0579,421

656,900343,100

75, 32086,240

5,7741,8472,2831,644

47, 474

90,87479,2441.1,1511,052435

20, 60713, 2931, 206

31, 50011, 630

6.000

6635,191122

1, 646917728198

112, 3681.110

116,10182

234,10042, 699178, 40512, 99610, 724

765

1,1127,808.059

17, 56231,311

50,70966,664

.059

.161

.14450, 01819,11624,4337,1564, 989' 2,074

64, 22444,6238, 9924,996

.0635, 7598,770

!.1602,9839,336

549,100340,200

59.92086,520

4,9261,5552,0601,311

49,595

85, 88975,69910, 721

998439

19, 98212, 5791,140

29, 84010,190

6. COO

6825,368142

1,511882629234

113,3421.110

120, 51980

234, 35443, 620177, 90412, 83010,865

804

1,2818,341.059

18,07331,890

44,94061, 783

.059

.161

.14548, 80018,89123,2257, 5164,929

' 1,483

70, 77249,0549,3544,632

.0635. 3517,537

.1603,0499, 424

545, 800411,000

64, 96085,400

5,4001,5472,6661,187

47,029

79, 37971,0799.958

851414

19, 27611,5751,085

27, 9208,300

6. 000

6655, 395

113

1,269816453273

111,6061.110

117, 22779

234, 42344,213

176,95613, 25410, 804

688

1,3178,145

.059

17, 30632, 544

39,01460,808

.059

.161

.14547, 23617,30923,391

7,3604,425

' 1,489

78,47556,61710, 2024,904

.0635,6025,146

.1602,9359, 725

436,000499,800

57,68084,000

3,7671, 2691,733

765

48,920

76, 62669, 3669,778

818371

19, 05611, 3641,069

26, 9107,260

6.375

6724,903

93

1,069757312276

101, 9351.110

108, 39979

237,07544,874

179,11913, 08210, 394

638

1,1087,485.062

16, 24030, 799

35, 29859, 657

. 059

. 161

. 14543, 28015, 42621, 947

6, 8404,326

' 1, 481

82, 86761. 873

9,9814, 996

.0635, 8523,996

.1602,7809,771

390, 500552, 700

5.4, 60081, 480

3,5161,1821, 567

767I

56,450

77, 29270, 4129,851

817361

19, 20412,149

1, 12026,9106,880

6.500

7555,427

98

866636230294

112,0131. 110

121, 56079

242,18146, 426

182, 70913, 04610, 402

706

1,1948,382.063

17, 28832, 700

31,13557, 280

.059

. 161

. 14546, 65316, 79723, 297

7, 5574,9071,641

84, 07762, 98710,0375,462

.0666, 3263,158

.1603,1849,689

483,100671, 700

65, 24083, 440

3,4111,2211,429

762

49,900

78,66771,927

9, 732782374

19, 70313,1751,161

27,0006, 740

6.500

6885,276

102

953743210310

111, 9451.110

119,00081

242, 93447, 639

182, 31312, 9829,674

767

1,0437,861

.063

16, 69034,095

30,67457, 381

. 059

.161

.14546.02515, 29024, 264

7,3714, 9861,701

' 78, 65358, 31210, 9235,425

.0696, 2993,513

.1603,1079,474

521,800704,000

66, 92084, 280

3,6731,2941, 3471,032

47,855

79, 52572, 4859,219755370

20,00913, 475' 1,10727, 5507,040

6.500

'6595,401105

949720229315

115,0051.110

123,85482

243,88047, 562183,07413, 2449,748720

'1,0927,802.065

16,07533, 732

30, 66557, 757

.059

.161

.14548, 48216,77725,0377,4905,197

73,13751, 39310, 7505,407

.0696, 5114,478

.1603,2819,155

583,100745,600

03,84085, 680

3,6951,2701, 3311,093

' Revised.{Figures for the production of natural gasoline include total sales of liquefied petroleum gas as follows (thous. of barrels): 1942—June, 498; July, 536; Aug., 502; Sept., 579;

Oct., 663; Nov., 687; Dec, 832. 1943—Jan., 824; Feb., 829; Mar., 889; Apr., 755; May, 677; these data are not included in the total for motor fuel; similarly sales of liquefiedpetroleum gas are included in the total production of natural gasoline but excluded from total motor fuel production in the revised 1941 figures referred to in the note marked"t". Production of straight-run gasoline includes transfers of cycle products as follows: 1943—Feb., 104; Mar., 109; Apr., 145; May, 145; these data are not included in the totalfor motor fuel.

tRevised series. Production of bituminous coal revised beginning June 1939; see note marked "f" on p. S-32 of the April 1943 Survey. Data for the indicated series ofpetroleum products revised for 1941; for revisions see notes marked "t" on p. S-33 of the March and April 1943 issues. See also note marked "t" above.

§Data revised beginning 1941. Revisions not shown"above are as follows: 1941—Jan. 1, 844; Feb., 1,733; Mar., 2,006; Apr., 2,203; May, 2,425; June, 2,316; July, 2,551; Aug.,2,579; Sept., 2,383; Oct., 2,327; Nov. 2,189; Dec. 2,219. 1942—Jan., 1,973; Feb., 1,735; Mar., 1,980; Apr. 2,023; May, 2,064.



1943

June

1942


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary


STONE, CLAY, AND GLASS PRODUCTS

ABRASIVE PRODUCTS

Coated abrasive paper and cloth:Sh ipmen t s . . . reams. .! 138,181

PORTLAND CEMENT

Production thous. of b b l . . 11,895Percent of capacity 58

Shipments thous. of b b l . . 12,702Stocks, finished, end of month do 22,084Stocks, clinker, end of month do 5,462

CLAY PRODUCTS

Common brick, price, wholesale, composite,f.o. b. plant dol. per thous . . 13.433

Vitrified paving brick:JShipments thous. of br ick. .Stocks, end of month d o . . .

GLASS PRODUCTS

Glass containers:Production ____thous. of gross.

Percent of capacityShipments, total. thous. of gross.

Narrow neck, food doWide mouth, food do. . .Pressed food ware do. . .Pressure and nonpressure— . . .do . . .Beer bottles do. . .Liquor ware do. . .Medicine and toilet. _._ do. . .General purpose -do...Milk bottles do. . .Fruit jars and jelly glasses. .do. . .

Stocks, end of month do. . .Other glassware, machine-made:

Tumblers:Production thous. of doz.Shipments... do. . .Stocks do. . .

Table, kitchen, and householdware, ship-ments thous. of doz.

Plate glass, polished, productionthous. of sq. ft.

Window glass, production thous. of boxes.Percent of capacity

GYPSUM AND PRODUCTS

Gypsum, production:Crude short tons..Calcined do

Gypsum products sold or used:Uncalcined.. . -do—Calcined:

For building uses:Base-coat plasters doKeene's cement doAll other building plasters doLath thous. of sq. ft.Tile .do. . .Wallboard do

Industrial plasters— ...short tons.

7,773119.18,262590

2,22755

608783757

1,891682247398

4,882

4,5504,9246,179

i 1,07966.5

115,910

16,02279

18,25022,6095,809

13.224

3,68219,461

6,72399.96,356333

1,40943

4511,058759

1,48243327292

10, 008

3,779'4,0359,140

2,494

4,7261,22375.3

1,234,293829, 206

399,192

252, 8603,78180,320254,6907,523

365,16635,736

121,187 135,030

16, 83380

20, 50118,9795,528

13.263

3,71118, 760

5,94988.46,336383

1,57740416839853

1,379328295195

9,528

3,1833,9158,411

2,397

4,1941,27478.5

17,60585

21, 28215, 2684,493

13. 265

3,68219, 215

i8.26,921546

1,83733320738

1,1641,253329270401

9,139

4,4984,5328,196

3,048

3,8631,07566.2

142,985 | 120,953

r 17, 54187

• 20,148• 12.708' 3, 606

13. 255

6,32897.86.897818

1,63231

315647

1,0951,286361286395

8,490

3,8298,239

3,606

4,7411,09767.6

1,213,817754,911

384,730

199,0612,90577,483197,84511, 577

404,89636, 399

' 18, 29387

• 20,384• 10, 625r 2, 733

13.213

98.37,005511

1,84549350625

1,1721,66245527629

8,299

4,5004,8887,837

4,608

4,924i96059.2

126,874

• 16, 27380

' 14,653• 12, 248• 2,840

13. 215

6,235100.46,281* 4501,661

39331681820

1,508520236

138,119

3,7783,5358,076

4,612198460.6

157, 573

• 14,11667

r 8, 95517,4283,509

13. 236

6,29993.66,564

4181,735

39362823868

1,49151627216

7,774

3,8373,7467,177

3,744

5,001i 1, 297

79.9

1,119,863658,053

388, 625

129, 4682,258

61, 695159,12312,328

408,04438,301

125, 258

12, 56060

8,64121,3683,771

13.243

7,361112.87,246

4911,841

41366849796

1,924551267100

7,775

4,4753,7637,877

3,585

4,910» 1,166

71.8

119, 776

10, 29354

8, 65622,9854,566

13.219

6,672110.77,060471

1,80818

386862731

1,708609217227

7,288

4,1904,2107,803

3,713

4,7751 1,113

68.6

150,497

11,39254

10,108• 24, 1114,926

13. 260

7,561111.58,154499

2,14446

478952857

1,906671235334

6,631

4,2845,3386,870

4,760

5,237i 1, 249

76.9

855,028546,388

275, 250

104, 2621,959

61,310115,4073,161

320,94636,252

153, 639

11,23955

12, 757• 22, 579r 5,312

13. 27'

7,622116.88,132

4992,109

33553852817

1,922702207404

5,894

4,2274,9366,181

3,622

5,48811,005

61.9

145,123

12,384*-v5912,07522,8915,574

• 13. 384

8,104129.18,359567

2,22042584819798

1,970682194464

5,583

4,9294,5976,544

2,996

5,855194258.1

TEXTILE PRODUCTS

CLOTHINGHosiery:

Production thous. of dozen pairs..Shipments doStocks, end of month do

COTTON

Cotton (exclusive of linters):Consumption... bales..Prices received by farmers dol. per lb_.Prices, wholesale, middling 1^ieff, average,

10 markets ...dol. per lb_.Production:

Ginnings (running bales)§.-thous. of bales..Crop estimate, equivalent 500-lb. bales

thous. of bales..Stocks, domestic cotton in the United States,

end of month :JWarehouses thous. of bales..Mills do

Cotton linters:Consumption _ doProduction doStocks, end of month do. . . .

12,96613,03317, 631

916,789.200

.211

8,5202,159

9729

729

12, 03310, 99021, 781

967,523' .179

.189

8,4192,342

12726

653

12,06711, 25122, 585

994, 552.186

.194

49

7,6102,155

12222

577

11,98212,11822,435

925,089.180

.186

738

7,5021,848

12227

490

12, 33512, 64922,110

966,149.186

.187

5,009

9,6761,711

115154505

12, 65013, 01221, 736

972,490.189

.189

9,726

12, 6242,006

116221588

11,71112,05921,369

913,038.192

.193

11,539

13, 5872,330

114215

12,17812,44121,100

935,511.196

.197

11, 743

13, 5392,467

108200810

12,18612, 93720, 350

915,479.197

.204

12,100

13,0362,418

111162

12, 25512, 97519,630

878,154.197

.207

12, 3402,443

120893

'Revised. i Partly estimated. * Total ginnings of 1942 crop.^Data are being compiled on a revised basis. §Total ginnings to end of month indicated.tFor revised figures for cotton stocks for August 1941-March 1942, see p. S-34 of the May 1943 Survey. The total stocks of American cotton in the United States on July

31,1942, including stocks on farms and in transit, was 10,505,000 bales; stocks of foreign cotton in the United States on that date totaled 135,000 bales.



1943

June

1942


Octo-ber

Novem-ber

Decem-ber

1943

Janu-ary


TEXTILE PRODUCTS—Continued

COTTON MANUFACTURES

Cotton cloth:Prices, wholesale:

Mill margins cents per lb._Denims, 28-inch dol. per yd._Print cloth, 64 x 60 doSheeting, unbleached, 4x 4 do

Finished cotton cloth, production: §Bleached, plain thous. of yd_.Dyed, colors „ doDyed, black doPrinted ____doSpindle activity: $Active spindles thousands..Active spindle hours, total mil. of hr_-

Average per spindle in place hours. -Operations percent of capacity._

Cotton yarn, wholesale prices:Southern, 22/1, cones, carded, white, for knit-

ting (mill)t dol. per lb . .Southern, 40s, single, carded (mill) do

RAYONConsumption:

Yarn mil. of lb_.Staple fiber . . .do

Prices, wholesale:Yarn, viscose, 150 denier, first quality, mini-

mum filament dol. per lb._Staple fiber, viscose, l}i denier do

Stocks, producers', end of month:Yarn mil. oflb..Staple fiber do

WOOL

Consumption (scoured basis) :Apparel class thous. of lb._Carpet class do

Machinery activity (weekly average) :1Looms:

Woolen and worsted: •Broad thous. of active hours--Narrow do

Carpet and rug: •Broad doNarrow do

Spinning spindles:Woolen doWorsted do

Worsted combs doPrices, wholesale:

Raw, territory, fine,scoured dol. per lb__Raw, Ohio and Penn., fleeces doAustralian (Sydney), 64-70S, scoured, in bond

(Boston) dol. per lb_.Suiting, 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. perlb-.Stocks, scoured basis, end of quarter:!

Total thous. of lb..Wool finer than 40s, total do

Domestic doForeign do

Wool 40s and below and carpet 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_

19.69.192.090

0)

22, 77710, 702

457129.7

.414

.515

39.613.3

.550

.250

6.42.9

1.205.543

.765

0)

1.559

1.800

4,290

10, 2264,1225,230

21.82.196.090.108

192,091147,654

5,19661,287

«23,09511,295

471133.7

.421

.515

39.013.7

.550

.250

7.02.3

53, 5104,280

78

7653

119, 375115, 368

233

1.195.503

.790

0)

1.556

1.800

351, 485276, 295141, 409134, 88675,189

1,313

5,5634,6055,279

21.27.196.090.108

189,214150,8325,73055,732

23,11011,484

479130.2

.421

.515

39.912.6

.550

.250

6.53.1

45,8963,236

2,85370

7159

127,143122, 324

243

1.195.496

.790

0)1.552

1.800

1,518

4,9374,4304,530

22.17.193.090.108

178,185149,1595,12160,073

22,97410,981

458136.4

.421

.515

38.212.7

.550

.250

7.43.9

45, 3722,000

2,74470

7245

125,473120, 250

237

1.195.499

.790

0)

1.552

1.800

3,197

4,6864,2754,734

22.03.192.090.108

179, 363157,0745,47265,606

22,95611,191

468134.9

.420

.515

38.412.5

.550

.250

8.04.3

52, 3053,045

2,65765

6640

121,812112,150

217

1.199.527

.790

0)

1.558

1.800

335, 796254,817126,612128, 20580,979

2,630

5,7524,8554,720

21.85.192.090.108

182,176167,3905,50370,935

23,01211,429

478136.9

.414

.515

41.112.6

.550

.250

7.74.1

45,1003,240

2,70375

128,423118, 676

217

1.205.535

.790

(0

1.559

1.800

2,626

8,9134,6214,950

21.47.192.090.108

168, 349143,1655,86063,144

22,94810, 558

443133.4

.414

.515

38.812.4

.550

.250

8.14.4

44, 3883,036

2,65071

6642

125,194115, 344

207

1.205.535

.790

0)

1.559

1.800

3,096

9,9593,5704,248

21.08.192.090.108

182,841145,1335,295

84, 216

22, 88710,734

450127.9

.414

.515

41.013.2

.550

.250

8.73.3

45, 5043,168

2,71168

6442

126, 337114, 958

205

1.205.535

.790

(0

1.559

1.800

265, 535194,16795, 79098,37771,368

4,484

9,6583,7764,510

20.32.192.0900)

175,919140,0984,60871,033

22,89010,820

455138.8

.414

.515

37.912.7

.550

.250

3.0

56,1602,665

2,67663

6340

124,120112,922

206

1.205.535

.765

(0

1.559

1.800

'6,918

10, 2123,7474,283

20.05.192.0900)

22,85910, 246

435135.9

.414

.515

39.012.6

.550

.250

7.12.5

49, 3202,944

2,81367

6541

133,482119,015

217

1.205.535

.765

0)

1.559

1.800

' 6, 406

10,0363,2174.260

19.60.192.0900)

22,92511, 647

495134.4

.414

.515

42.814.0

.550

.250

6.82.8

50,2802,972

2,80970

6741

134,890118,835

218

1.205.535

.765

(0

1.559

1.800

194,066136,75259, 33277,42057,314

' 8, 619

9,2313,7314,686

19.62.192.0900)

22, 89410,927

465133.2

.414

.515

41.513.2

.550

.250

2.3

3,610

r 2, 72163

6039

129,049114,009

219

1.205.535

.765

0)

1.559

1.800

r 5, 970

3,7674,632

19.69.192.0900)

22, 78810, 581

451134.1

.414

.515

41.812.9

.550

.250

6.72.8

48, 7962,400

2,71360

6040

130,101118,047

226

1.205.538

.765

0)

1.559

1.800

4,725

9,7613,8934,618

TRANSPORTATION EQUIPMENT

AUTOMOBILES

Indexes of retail financing:Passenger car financing, volume :f

Total Jan. 1942=100..New cars doUsed cars do

Retail automobile receivables outstanding,end of month Dec. 31, 1939=100-.

Automobile rims, production thous. of rims..

402842

16634

585560

86664

595760

77573

535454

67586

424542

59633

322634

51547

261628

44488

201122

37554

171119

31567

211323

27527

363037

22638

413941

20653

393640

18683

' Revised. 1 No quotation. JFor revised figures for all months of the cotton year 1941-42 see p. S-35 of the November 1942 Survey.IData for June and September 1942 and January and April 1943 are for 5 weeks; other months, 4 weeks.§Data to bring these series up to date are not available; moreover, recent figures shown may not accurately reflect production in the industry.•A large portion of carpet and rug looms have been converted to the manufacture of blankets and cotton fabrics, principally the latter; data for these looms have been ex-

cluded beginning January 1942; they accounted for less than 2 percent of the total carpet and rug loom activity in that month and 70 percent of the total (broad, 61 percent;narrow, 78 percent) in May 1943. Similarly, data for woolen and worsted looms operating entirely on cotton yarns have been excluded beginning July 1942; they accountedfor only 0.4 percent of the woolen and worsted loom activity in that month and 3.7 percent (broad, 3.2 percent: narrow, 20 percent), in May 1943. Revisions for woolen andworsted looms for February 1942: Broad, 2,623; narrow, 95.

fRevised series. The yarn price series for Southern, 22/1 cones, has been substituted beginning 1941 for the Northern, mulespun, series formerly shown; for monthly 1941data, see p. S-35 of the November 1942 issue (1941 monthly average, $0.355). Wool stocks are compiled on a revised basis beginning 1942 and cover all known stocks of wool incommercial channels, including stocks in the hands of country dealers and in country warehouses; figures exclude stocks afloat which are no longer available for publicationFor reference to approximately comparable 1941 data, except for exclusion of country dealer and warehouse stocks, see note marked "f" on p. S-35 of the May 1943 Survey.The indexes of retail automobile financing shown above on a January 1942 base may be linked to the indexes on a 1939 base shown in the 1942 Su pplement by applying the cur-rent series to the January 1942 index on a 1939 base given in footnote 5 to p. 170 of the 1942 Supplement.



1943

June

1942


Octo-ber

Novem- Decem-ber ber

1943

Janu-ary


TRANSPORTATION EQUIPMENT—Continued

RAILWAY EQUIPMENT

American Railway Car Institute:Shipments:

Freight cars, total number.Domestic do—

Passenger cars, total— __. ..doDomestic do. . .

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..Equipment manufacturers.__ -doRailroad shops do

Locomotives, steam, end of month:Undergoing or awaiting classified repairs

number..Percent of total on line

Orders, unfilled number..Equipment manufacturers doRailroad shops do

U. S. Bureau of the Census:Locomotives, railroad :§

Orders, unfilled, end of mo., total doSteam _ . doOther do.__.

Shipments, total doSteam doOther do.. . .

Locomotives, mining and industrial:!Shipments (quarterly), total do

Electric, total doFor mining use do

Other do. . . .

INDUSTRIAL ELECTRIC TRUCKSAND TRACTORS

Shipments, total .number-Domestic. __ doExports do

7,8211,420

00

1,740

492.9

31, 74427,0114,733

2,0515.2506391115

5, 2532,851

2323

1, 736

573.3

37, 8P125, 06212,829

2,7477.035030446

1,5546588961425983

205104102101

400391

2, 8601,370

1616

1,737

553.2

35, 44224, 97410, 468

6.833428450

1,7208548661325676

36034317

9555741010

1,737

533.1

34,19524, 6269,569

2,5936.632325667

1,649783

14761

38234438

1,5751,408

00

1,737

462.7

35, 63728, 3527,285

2,3816.131423876

1,9321,0658671778394

266116112150

43841523

2,1421,970

00

1,737

422.4

29, 20422, 4196,785

2,1435.528921673

1,8399798601779681

4204182

2,2021,896

1, 739

452.6

27, 30822,1675,141

2,0985.4

35613

1,8229388841248143

36735215

2,2441,428

00

1,739

422.4

27, 06120, 0656,996

1,9324.935526392

1, 9671,1398281466383

261136122125

41138031

3,0611,447

00

1,740

462.6

19,28115, 0694,212

1, 9575.036526996

2,0431, 24979415910455

2852805

3, 3651,321

30

1,741

452.6

19, 32915,4173,912

1,9755.039431282

1, 9731,22175221915564

34230933

5,5841,469

00

1, 741

442.6

20, 71217, 3933,319

2,0815.3416312104

2.2961, 544752286202

328136124192

43542510

8,0451,641

60

1,740

472.8

19, 39716,1623,235

2,0825.3394305

41038426

8,0031,034

00

1,740

482.8

33, 53728, 2275,310

2,0525.241834078

35334211

CANADIAN STATISTICS

Physical volume of business, adjusted:Combined indexf 1935-39-*100..

Industrial production, combined indexf1935-39=100..

Construction t doElectric power _ - doManufacturing! - do

Forestry! doMining! do

Distribution, combined index! doTons carried• do

Agricultural marketings, adjusted:!Combined index do

Grain . . . . . doLivestock do

Commodity prices:Cost of living. doWholesale prices.. 1926=100..

Employment (first of month, unadjusted):Combined index do

Construction and maintenance doManufacturing doMining -doService doTrade do1 ransportation _ do

Finance:Bank debits mil. of dol . .Commercial failures number . .Life-insurance sales, new paid for ordinary

thous. of dol . .Railways:

Carloadings _.thous. of cars. .Financial results:

Operating revenues thous. of dol_.O peratin g expenses doOperating income do

Revenue freight carried 1 mile. . .mil. of tonsPassengers carried 1 mile mil. of pass . .

Pfoduction:Electric power, central stations

mil. of kw.-hr. .Pig iron thous. of long tons . .Steel insfots and castings doWheat flour thous. of bb l . .

118.599.5

50

52, 475

200.0

222.1157.1146.6235. 7131.2196.3153.9188.1

82.8113.8

116.795.8

171.7123. 3205. 9173.1180. 6153. 7106.4

3,76746

43, 898

287

55, 24739,41911,6964,807412

3,043150227

1, 335

203.7

229.4118.7145.8246.2128.5213.3150. 5176.2

237.7270.993.4

117.996.1

175.7137.7209.5174.1184.8152.8108. 1

3,70447

44, 868

294

57, 52942. 00410, 5824,705

511

2, 966154229

1,590

205.7

232. 5114.3142.8248. 8120.7216.6150.4163.0

99.698.8

102.9

117.795.5

177.8146.8212.4172.3189.4152.5110.4

3,48042

39, 963

282

58. 88143, 37110, 7534,593

532

2,990145222

1,820

206.1

235.1127.8140.0253.3116.2225.8145.8127.1

43.633.985.7

117.495.8

179.3146. 5235.6166.8188.2152. 3110.0

3,51639

55, 798

290

58, 59042, 67011,8034,550

452

2,947139219

1,737

207.2

238.697.8

138.5262. 6126.7195. 7142. 1127. 9

106.6112.978.9

117.896.6

181. 3149.6218.3164. 3185.1153.5111.7

4,07347

57, 795

323

61, 28143, 74215, 4245,171

404

3,166157242

1,851

207.8

239.3106.9137.3263.4116.7192.0142.7142.0

95.490.4

117.0

118.697.0

183.3154. 9218.6163.0182. 6156. 5110.6

4,96756

52, 042

291

56, 92641, 88511,5095,077

385

3,181152242

1, 973

221.2

250. 8101.5140.1276.2124.7209.6160. 6175.9

141.7146.4121.2

118.897.0

186. 5151. 3221.7162.0182.0164.5109.4

4, 19536

45, 576

273

63, 59345, 75013, 2844,750

652

3,249147241

2,063

225.8

254.695.0

142.5279.0105.6225. 3166. 3158.6

133.5149.862.8

117.197.1

183.7132.1219.6162. 4180. 5169.9107. 8

3,90025

40, 420

237

50, 67941, 1466, 1904,063

411

3,218104185

1,963

227.3

267.8140.7141.8290.8120.7236.1143.3183.2

110.3113.397.2

116.997.5

181.2125.7222.1161.4179.7149. 3105.5

3,'

40, 420

247

53. 02541, 7217,2394, 456

2,951123219

1,991

231.7

269.190.8

146.5294.1124.4250. 6154.3

'202.3

108.8108.4110.7

117.2

181.5122.6223.4162.2179. 9147.1107.1

4,01235

46, 730

62,81146, 65811,0985,083481

3,329143242

2,193

236.9

274.483.7153.0296. 7116.0281.2159.2201. 6

224.9256. 786.6

180.5118.8224.1160. 6181.2148.8109.4

4,071

51,104

280

65, 33847, 38912, 6325,167519

3, 268134236

2,057

237. 8

276.791.3

161.2297.9118.5285.0157.2190.8

252. 7290. 488.9

118.199.2

5,4247

49, 726

3,503138243

2,100

••Revised. §Data discontinued by compiling source for the duration of the war.!Revised series. The revision of the index of physical volume of business is due mainly to a change in the weighting and in the list of components, so as to present a picture

of the expansion in industries engaged in war production. Revised data were first shown on p. S-36 of the December 1942 Survey; subsequently the construction index wasfurther revised in the March 1943 Survey. The index of grain marketings is based on receipts at country elevators instead of receipts at head of Lake and Pacific ports, asformerly. For revised monthly averages for 1941 see note marked " ! " on p. S-36 of the April 1943 Survey. Revisions for agricultural marketings beginning 1919 and for otherseries beginning January 1940 are available on request.

*New series. The mdex of tons carried has been substituted for the index of carloadings, beginning in the January 1943 Survey; data beginning 1928 are available on request.Components included in the distribution index other than tons carried are retail sales, wholesale sales, exports, and imports.

INDEX TO MONTHLY BUSINESS STATISTICS, Pages S1-S36

CLASSIFICATION, BY SECTIONS

Month!v business statistics:Business indexes _ _ _ _ _ _Conimodity pricesConstruction and real estateDomestic t rade _„Employment conditions and wages.Finance , _,_,Foreign tradeTransportation and communica-

tionsStatistics on individual industries:

Chemicals and allied products..Electric power and gasFoodstuffs and tobaccoLeather and productsLumber and manufactures„_Metals and manufacture*:

Iron and steelNonfcrrous metals and prod-

uctsMachinery and apparatus

Paper and printing-Petroleum and coal products..Stone, clay, and glass products-Textile productsTransportation equipment. „

Canadian statistics .

PageS IS 3S~4S-6S~8

S 14S-21

S-21

S-23S-24S-25S-28S-29

S-29

S-30S 31S--3IS-32S-34S-34S-35S-36

CLASSIFICATION, BY INDIVIDUALSERIES

Pages marked SAbrasive paper and cloth (coated) 34Acceptances, bankers" 14Advertising _„__ 6Agriculture! income, marketings 1Agricultural wages, loans 14, 15Air mail and aii-line operations. 7,22Aircraft „ . 11,13Alcohol, methyl . 23Alcoholic beverages _. 1, 2, 25Aluminum _.. . 30Animal fats, greases 23Anthracite 2, 3, 10, 11, 12,14,32Apparel, weering 3,6,7,9, 10, 11, 12, 13,34,35A s ph »It 33Automobiles 1,2,6, 7,9, 11, 12, 13, 17,35Banking 14, 15Barley 26Bearing metal ,_ 30Beef and veal 27Beverages, alcoholic 1,2,25Bituminous coal 2, 3, 10, 11, 12, 14,32,33Boilers _ 30Bonds-, issue?, prices, sales, yields.._ 19, 20Bcok publication 32Brass, bronze, and copper products 30Brick. 3,34Brokers' loans „_„_ 15, 19Building contracts awarded 4,5Building costs 5Building expenditures (indexes) 4,5Building-materials, prices, retail trade- 3, 7B u 1.11 r _ _ 25California, employment and pay rolls.._____ 10, 12Canadian statistics. . 17,36Canal traffic._. _ „ _ 22Candy „ 27Capita! flotations .._„ 18,19

For productive uses .__ ._ 19Carloaciings . „„__. „ . 22Cattle and calves _„ ,_ 26Cement ,,__„ .. 1, 2, 3, 34Chair-store sale3 7, 8Cheese _ 25Chemicals 1, 2, 3, 9, I0, 11, 12, 13, 14, 16, 17, 23Cigars and cigarettes 23Civil-service employees.. . 10Ciey pscducts 1, 2,9, 11, 12, 13, 18,34Clothing 3, 6, 7, 9, 10, 11, 12. 13, 34, 35Coal . . . . _ _ . _ . 2 ,3 , 10, 11, 12, 14,32,33Coffee . - 27Coke _ _ _ . . _ 2,33Com m ercial fsi 1 ures.. _ . _ _ 16Commercial paper . ___. 14Construction:

Construction estimates.. .... 4 ,5Contracts awarded . _ „ _ .,'„_ _ _ „ 4, 5Cos ts_ ._ . - 5Highways and grade crossings . , 5Wage rates . . . 14

Consumer ciecit . _ _ _ 15Consumer expenditures, , 7Copper .... 30Copra or coconut oil . . . 23Corn... 26Cost-of-living index, . 3,4Cotton, raw, and manufactures . .. 1,

2,3, 9, 10, 13,34,35Cottonseed, ceke and messl, oil ___, 23Crops 1, 23: 24, 25, 26, 27

Pages marked SDividend payments and rates 1, 20Earnings, weekly and hourly 13, 14Eggs and chickens 1,3,27Electrical equipment ___ 2, 6, 31Electric power production, sales, revenues. _ 24, 25Employment, estimated . 8Employment indexes:

Factory, by cities and States . 10Factory, by industries » 9, 10Nonmanufacturing.. 10

Employment, security operations __„ 11Emigration and immigration 22Engineering construction 5Exchange rates, foreign _ . 17Expenditures, United State* Government __ 18Explosives „ 23Exports . 21Factory, employment, pay roils, hours, wages. 8,

9, 10, 11, 12,13, 14Fairchild's retail price indnc 3, 23, 24Farm wages 14Farm piices, index .. . 3, 4Fats end oils . _ 3Fedf-ral Government, finance 18Federal Reaeive bank** condition of 15Federal Reserve reporting member banfcs__ 15Fertili7er& _ 3, 23Fire losses _ _ „ _' 6Fish oils, andfish.... _ _ . _ . 23,27Flaxseed 23, 24Flooring 29Flcur. wheat ___ 26Food products. 1, 2, 3, 4,

6, 7, 9, 10, 11,12, 13, 14, 16, 17, 24, 25, 26, 27Footwear 1,2,4,9,10,12,13,14,28Foreclosures, real estate 6Foundry equipment 31Freight CP.TB (equipment) . 36Freight carloadings, cars, indexes 22Freight-car surplus? 22Fruits and vegetables __ 3,25Fuel equipment and heating spparatug__..__ 31Fuels . 2,3,32,33Furniture 1,4,9,11, 12,13,29,30Gas, customer?, salee, revenues - 24, 25Gaa ana fuel oils . 33Gasoline . _ _. 33Gelatin, edible 27Glass and glassware 1,2,9, 11, 12, 13, 16,34Gloves and mittens . . ; 8Gold 17Goods in warehouses ___. 6Grains 3, 19, 26Gypsum , . _ 34Hides and skins . _ _ 4, 28Highways, and grade crossings, Federal aid_ 5Hogs ____.__ — . 27Home-loan banks, loans outstanding .. _ 6Home mortgages . 6Hosi ery . . 4,34Hotels __._ 10, 12, 22Hours per week 11I ~usc arm hin^s _ _ __ _ __ 3, 4 b 7Ho « ng __ _ 3 4Illinois emplcvn er t, pov rolls, wagcs__ l'« 1 *>, 14Xrnn ig's* on pud e, 'graven _ 2n

IIro portsIrcorre pa\ r hIn' CITK >* rt-cvi J<s

_

In'o- t crt ti A , t U*T""V*>S rscv _ __Inau* tr r> ] ofiuC'i'

Inst ill. tnt "sale , d**rIrsirarce h*e .Ii tertf o •» 3 n o r ( v IIm CTH.C i- , x IP^* ^tlion oi d aêl cTu ,

K rj« . - _T.abf* toceL I r t m « i , dîLpr b Vi1 n ? i*onLa '*

ir dexea

utnent stores_

tesif is tvd trat.c

n j»ruf riif-so i l , \3t 15 17,

_-tet.

211

1817

1,2

82 6, 17

152 n,

°t 4 <2^ )

13S

1127* /

] 2 4 Q l , 1 J , l ? H I-t30

15 282\

Currency in circulation . _ . . 17Dairy products . 1,2,3,25Debits, bank . . 15Debt, United States Government .__ 18Delaware, employment, pay rolls, wages. 10, 12, 14Department stores, sales", stocks, collections. 8Deposits, bank „ 15Disputes, industrial...... . 11

Le-th rLi i°et- * ol» _ ,I. v i s t s.Loe •»«. r ' p<;1 pp. cplt i r r l }«->i\ Kr

( ct c»«,o Cct unifi v.w ) _ 5,T * cor !ve"Loo ) i we ^ re* * *y

Lu- h i I 2 3, t, 11, 1? 13 16, 2t|M <. < * i( a i« vr, rci or, wro1 ^b^ . ^ r * ' ^ . 11 H 31Mnch i 1 ? 0, U,ls \o, 16 17, >3l ' i f > t 7 e nc* trfi-»inr (

IVidnufi u f v i f o J t i <! l r r r c n ' * ; nventO'i-3 _ *» 3

_*'riiuf-- t'inn<, prrûutiun ir 'e^* 1 1_v"jr\ipr employ*! rn*, r a »i 1 10,1°Wt s ff I _tc tt<? om \ovt^tnt x i roll" \ &gt* 1J ,

12 14f & * J h n 1 - i i i <- « g 1 , '

\9 10 1 ? , H , U 2"f c i h ___ 1,2,4,9, P , 12 H, 1/ 23Mcthi . 1 2+ W\ __ 25^ x er_.- 2 10T 12 I ':»-v<,«^-e* _ 2J

o n

Pages marked SNew York, employment, pay rollt, wages.. 10k 12,14New York canal traffic . _ 22New York Stock Exchange _- 19,20Oats ._ 26Ohio, employment, pay rolls . — , . - 10, 12Oils and fats 3,23, 24Oleomargarine . . - - 24Orders, new, manufacturers' _- 2Paint and paint materials 3,24Paper and pulp. ..2,4, 9, 10,11, 12, 13, 14,16,31,3$Passports issued - - 22Pay rolls:

Factory, by cities and States 12Factory, by industries 11,12Nonmanufacturing industries 12

Pennsylvania, employment, pay rolls, wages. 10,12,14

Petroleum and products 2,3,9,10,11,12,13,14,17,33

Pig iron 30Porcelain engmded products 30Pork _ 27Postal business , 7Postal savings . - - 15Poultry and eggs 1,3, 27Prices (see also individual commodities):

Retail indexes 3Wholesale indexes 3,4

Printing 2, 9, 10,11,12,13,14,16, 32Profits, corporation ', 17Public relief _ 14Public utilities 4, 10, 11, 12,14, 17,19, 20Pullman Co 22Pumps 31Purchasing power of the dollar . 4Radio-advertising . 6Railways, operations, equipment, financial

statistics, employment, wages 10,11,12, 14, 16, 17, 18, 19, 20, 21, 22,36

Railways, street (see Street railways, etc.).Rayon. 2,4,9,10,12,13,35Receipts, U. S. Government 18Reconstruction Finance Corporation, loans. 18Rents (housing), index - 3Retail trade:

All retail stores, sales „ __- 7Chain stores * 7, 8Department stores . - 8Mail order . 8Rural, general merchandise ^ 8

Rice _ 26River traffic 22Roofing, asphalt ~_ 33Rubber products 2, 4, 9, 10, 11,12,13,14Savings deposits 15Sheep end lambs - 27Shipbuilding 11,13.Shipments, manufactures 2Shoes. . . . 1,2,4,9,10,12,13,14,28Shor tenings 24Silver _ 17Skins . „ 28;Mr-ug* te'-rq and meat packing » 1

2,9,10,12, 13, 14,2724St vbertK and soybean oil

Si'-» re *Jcti/Tt> co+ton, woolSt-re1 pi \ ircn (°ec lion and steel).F* el scrap _M k b U l

2435

r~ k, rVj ar«.nf n

, i«si-s 'ch >, and

S-In

2921

-icre (see also manufac-es) 8ê* pales, yields... 18,19,20,21a.ss products 1,

2,9,11,12,13,16,341 hu»«5es 10,11,12,14

27__ I..I__IIII...I 23

2323, f s t h c » e

T*»l r here, teiegrsph, cable, end radio-teie-KI ^h carnen . _ _ . - . 10,11,12 14,17,22

To Lle^ . . . 2,4,9,10,11,12,13,16,34,35^'V _ _ „ __._ 34fi __- 30^ uY c o _. 2, 9, 10, 11, 12, 13, 14, 28Tro« -iac> i >e 11,13,31T p ] ret n , nd wholesale...3, 7, 8, 10, 11, 12, 14, 16T ' f M i t i r * V-^l „ 21Trs^«i < i* **'G i, fomrôdity and passenger.. 21, 22V" v* o option cqu pment 1>

2,9,11,12,13,16,35,36""rev 1 . 22Tr JC* a <1 t«rcwors, industrial, electric 36T ne i} >v i*" - . 8

ei^-nint bonds 19,20er linent, finance 181 C i

} vU n f _a S t i uT m f i S* a cUn'*f CarieLi » -V - i_u r n e

Co-poration 21,30^,10,11,12,14,16,17,19,20

ime\ . 7,8„_ 23

n ' 3, 25rs m'ocdlaneoua . ..„_ 13,14expenditures 18*

' 186

10,122226

3,42 14

occupiedj'jo* , employment, p a y

Nc T/sj operNever'tnt

1 I COL C I I *1?c t f >iU ,V li -sk n c mdc es 3,4"> tc r r s l j mt i y* nent, pay rolls, wages. 10,12, 14< < > f - 4 , 3 1

\v -J arc woe 5 manufactures.- 2, 4, 9, 10, 12,13, 35?-nr.. 30

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