52
"^xV * 4r' ^ X At *#/£ XH' > i ^.•V">ViV'i;. N'.-.'r*v*« . N . . - , ' . * - ; /' t;< '.;.r-r••; .„ --^, ^"•^^?;;^^'•'^^^^^r^;'--^•^ : ';"^'^' ; ^^: y - : 'v•:^T ft y• ! •^•f,^ ^ l ^^^^>':":", -Wt; ;..-\i?^,.^ ^' •-r'-'.-vv. ^\-A ? -'."---^; '^i(r~^rt^;.-\\,^ -• ! -.^^>V^H / vH.';; !A -?Ks* : ^ •:;::;|:;;;^>t;f:XfSf.^^ - > { Siv.''. - •- •%';; '^ : tp^^v;y^l •^^^t^:^^>^^^^ ^;^.^^Bi^tt^l^5^ ; y^';^ ••-"i' ;: .^lfe^ - '^ "''"'» s , . :'f „' -> % vV^' Vv > " N '*< \!-~ V^ VtUn3^t*V&tiW 'W/iwf 1 * 1 !^ * '* -< ? '* "''^^'O^ri^- A-v'^ s Al^^O^l'1 ^ *• - < / 5-^ . > ' ,<„, v ^w ' ^ * ^'^xjyaflLJrvJIlLJLjiaE'lxJl JWIU^-Wt-VMB } ' v -i"/'^^ % / % r ^ ^ ^ > , ' >\t ^ > ^ * t ( ^ ^\ p ; s --; x _ v- -" ^ v n\ ? " '• > .- t £ ^ f»'\ k - 1 * ,V* l '--\' *f vf , ""s'-iv "' "^ * *r^( "-f^fy *-c"}> "**' "y^"- :' ?* * ^ ' ** < ' -' x ^\'^i^|^1W^W; ^j|^k^Jri|toj^^ ttA^'ajr^ <rf^ : |^^|^i^ J^^^^^^/f[^'^' ^;: :' ; t ;, J^f^lji^^ \ '^' i v.^^^ijHMi^ 17; Vv/'f v f \~ Jv v\' -!\ V C'^ > /„-,' v i'\' v ^ v /•'A 1 \*^ "*" ^'-"'v" -^ k ! ^ t"*-,' i '\-' \ '" C--S ^ '^ t - ^- .^7 ^~* ,\^^*\v7^^ "A^« H '"' V " ^' I- V T~'. ^ii^^Mt^:;jHWi _. v ,, Mimittances oftly to Superintend c;;? c'- ; ^ XrTotk^i-ifcv'.lC Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

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Page 1: Siv.''. - • •- •%';; '^tp^^v;y^ · Wholesale price comparisons 5 Business summary . 6 Indexes of business (production, prices, sales, etc.) 25 TREND OP BUSINESS MOVEMENTS Page

"^xV

* 4 r '

^

X At*#/£

XH'> i

^ . • V " > V i V ' i ; . N ' . - . ' r *v*« . N . . • - , ' . * -; / ' t ; < ' . ; . r - r • • ; . „ • - - ^ ,

^"•^^?;;^^'•'^^^^^r^;'--^•^:';"^'^';^^:y-:'v•:^Tfty•!•^•f,^ ^l^^^^>':":", -Wt;;..-\i?^,.^ ' •-r'-'.-vv. ^\-A?-'."---^; '^i(r~^rt^;.-\\,^ -• !-.^^>V^H/vH.';;!A-?Ks*:^•:;::;|:;;; >t;f:XfSf. ^- >{ Siv.''. - • •- •%';; '^ :tp^^v;y l

•^^^t^:^^>^^^^• ; . ^Bi tt l 5^; y '; ••-"i';:.^lfe^

- ' " ' ' " ' » s , . :'f „' ->% vV^' V v > "N '*< \ ! - ~ V^ VtUn3 t*V&tiW 'W/iwf1*1! * ' * -<? '* "''^^'O^ri^- A - v ' ^ s Al^^O^l '1^ *• - < / 5-^ . > ' ,<„, v ^w ' ^ * ' xjyaflLJrvJIlLJLjiaE'lxJl JWIU -Wt-VMB } ' v • -i"/'^^ % / % r ^ ^ ^ •> , ' >\t ^ > ^ * t

( ^ ^\p ;s --;x_ v- -" ^ vn\? " '• > .- t £^ f»'\ k-1 * ,V* l'--\' *f v f , " "s ' - i v " ' "^ * *r^( "-f^fy *-c"}> "**' "y^"- :' ? * * ^ ' ** < '

-' x \' i | 1W^W; j| k^Jri|toj ^ ttA^'ajr^ <rf :| | i J^^^^^^/f[^'^' ^;::' ; t;, J f lji ^\ ' 'iv.^^^ijHMi^ 17; Vv/'f

v f \ ~ J v v \ ' -!\VC'^ > /„-,' v i'\' v ^v/•'A1 \ *^ "*" ^ '-" 'v" -^ k! ^ t"*-,' i'\-' \ ' " C--S ^ '^ t- ^- . 7 ^~* ,\^^*\v7^^ "A^«H'"'V" ^ ' I- V T ~ ' .

ii ^Mt :;jHWi _. v , ,Mimittances oftly to Superintendc;;? c'-;^ XrTotk i-ifcv'.lC

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

Page 2: Siv.''. - • •- •%';; '^tp^^v;y^ · Wholesale price comparisons 5 Business summary . 6 Indexes of business (production, prices, sales, etc.) 25 TREND OP BUSINESS MOVEMENTS Page

^^ des| d;; ; l present each mokth $ picture of It^busi^^s^tp^Oii

'/ " % x >>V. ,v Otis-fines of trade and 4&4w^^K ^M* semiasnu.al.iiitei'-^

INTEOBTICTIOKr;p^ <3ent bve&the base period, while a relative number

. 7 ffa^^hs* r^^* ' \v <<\t

r '-> v^hiie&vsu!fij0i0nt,; for^'sot -i^cM^ths have, been'left a^i^he,"' * x ; ^ < \" v

v " ' ' » ' bottom', ox< .each tahi$ ^ns lin]^ tthose ^^ho 0are *to ^d% i; '• ' y *£;-'/ '<r ' , so 'io ;'ent^r^\n^ figures fag- spoil ^ &&\they^{>p$f^*-J|M|> '•

!; c~ , <!;- months, the -inore impo^jiE&Dj'*cdn|^ari^>n$ "^pnl^aye'*|/. V.;J i J ' . v 'u."'\"^hr«afJtat 4ffielt^le/^ii1|tl^d-"^Ibtf4:fti ty£s&j^'p^te--,^ ;"'^; ^r/1';- ^inw^^sin^the p^ea4) ';ax^i^/ ' ^v'w>V-"..;^V ' ^\ ' ' -< : v>'vi-V<^^;v;x>^ ^'^'": '^,4'^ - «y 4*." :-ir:..i ^:- -:, i ' " b^:AJ>^NeE^fflEETS r: : :* ^- , - %i

«r rJ-^^TT^iy; ¥M¥?V „„ v v* ,um t^y to^t^afehSte^bia^ia§|>1-^/^li^t?^os^blf;^0^^^ rtte^fpr^^'' ""'^''

of! §6 ineans a dbo^^e:of 20 per cent from the base.- 4 JBelatiycl nuiahe^Jm^ also pe used to calculate the; ip^roxim|tte p^feenta^e increase or decrease in.a mo ve--•in^nt* i^otn' ot]te p0£ij&d €o the.licsxt. jLhus. ,11 n relative *^.ltfl^pb^atit<

4<|^ for a latet month it ,Ais H4:ttfei:fri^|^i4 an-Jincreas^ of 20 per cent.

^iriaiy^nstas^ figures'for the pre-,. yeats arfe 3^!'a1f1^fte, atli3 in such cases >the yeart8 haa Dually^J>#£n ,t en as the base* JFor some>:^^- >•• g^^oi.be regarded a$ a proper base,

rctmsl!' conditions ridt the Industry, andsotoe iiiore r^i^f^tativ^ period hap bene^ enosen.

toes ;^i|tive^numTt)fe^?o^to^^W^oimtted , '"".-.l' '** V „ •

^bers-appear;in ;a^ specialissues, as in ^ble& 103 to

. _ 0 „, _. T _^ jrombes, thus aflowing easyudfe^TOe-rwar base ;f0i* till items for which•>_jia'1tL^LiU-i-' .-i^ Jt' *"' •"• *. * «x - , , ' < *

ij ^^^at^^^

pt4 * lia^ |? ?S ll f x^S^bgr tl i to^ei lBj r;rhl MJ#riiat%li <?ipSR!$^^^

, - , . , - « ^-v»^ ^{^Mv*^^^^*' Vv" >': if-^?v**' ^^S . ^^ ;fV;i ^ C";'4:

1.i>v\i;-| '' i0y^Be^ i^^f^l>pted 'p'-^i^iy^tllf:'r:V ; ' J^^'-'''\c^^~fe':C^^te'<i^ ^ ^ " A > A' -"{':.^-^>:

|^^ - :i*;^t;^J: f ^ V I K ' " " * ' ; , _ :V;'V^rr\V .y:*'.^' '^v;^ • 'J"v^<ti-**' V'".^ '.--^^xl;/1 '*v-! \j ''J" ,"'"?,-j ;• ^^'^ ^i\* ' V^v*' '1 /"*" . - " ' ** , ?< i*\'"**:,',.'^V-V

•4^ ' - *> * ^ ' " ^ ' r > / ( M - 1 ^l^ft^j^l£.^J 1 '_' -^jtJlu*X^€lf^S^lv*^^*A11^1^^v-k^l"' .S^t^^it^l^ " «^'.3r is*^fl. 7b^f t^ofeal' jourteala^ ad ilffl •

"^efliQ' "o^a»s] ic)i Bl€3it n^or0>a|3^^^c ii5^ ^Jflb^ i

-

y% r*,» ^* : / ' ' ' '• ' ;•* ri&b^tlfly^v^4;, ^ v^ \'. ;^^^ffi+*:&'ii^j^^

C/n--;

iri ^^at ^itcef; the

th0

sf,;%^y \|i^ ......,.,^ ,:v.v, l^*r;^,;'\^''

> "axe T. , .

^fi|A^^^:\to^ index ;' * ^ JM^

in ^nlk-a ro^fe &f to*for, ^ , ,

of ifidusfe^r i^j^^ the i^^ivetie liaise

in the Mme.nnn^r as in

:in ^(&feCharts ns^d IB iihe , fare M the type termed "Eatio

3rr>—. - -JT-" --^-f ^°W'

?^^S%ffei©|ir %e l§ ;oC^elei ve ^n5 ihat; pf aiiy dthar;4^tiFfe f^^^^ro^il^Io0ation;on ;tM;digram; tiiaV" i^ fa ift p^i^^tliic^ftBe^iTa» itenx & -gitfe^ tt:e same^ ,. , - , ,rv. „ ^,eurve- i& mear the bot-

'. v< ^, jPhe diM0r^!fiiG0 OjSt eeif this and th^ ©^(linaiTr fofm,,, ^^.ha^t Can^e^stade,^wtear Jbjr aiii example* if & ^ >lilteto, JSa^^ia; r^^i^e, iiui^>er;(^,40Q/in one, ,

_^^ t) ijicreas^Jfi&'.p^rrcBiitt iijt ^e-fdllowtng ^nQJith,°Aiife relative/n^mdJ^e^ J0rifli\be ^440^ and oid. ^u ordinary <*'^l^art wpi^ld^ 4)^ '|$$We<l 40 eqtii^i^tant v scale points

iglior titan tijeJ^p^Sc^^i^^mopjUte. J4^o^tier move*/lent ^rit3p? %it^elia%^© titpber bf^ s&j^ SO also ii^oreaf^

»1Q pierc^ On tie^^Oir^liiitctiy \%jftlup^.e^tej| s&de this item* woulU rise only ,5j equidistant -fe^i^^^ v\fjie3reasr the previous itc^bi^ro^e, 40 i

Hoj^ttjj^ yet ^a^H i|boi d"tie, cdte per^Bntage lncreas€k

6|>e£ of th> two l&e^ afe directly

s, whfl0'&e - ilo Charts .|> . ., X Jtaf5|eas r yr ^ 5re»9e; /^mrarajuywiuu t»u^ .j ^^^ptsiri M^ ^ unau^es, wnn« vu« ui itiiiuetiu ojitu ws, uuiupi

I'v^'LV^V^v^^^^ '^C')^\- x * H ~ u , . .'-^'J\; ':.'I T ; Vv- ;"C >Xf' T/ija/*8uepresentprac«ca«ycomp^terfa?a/orf/iem^% ' • ^ ' V UptoJanUpr''™ ***"<*** ///if/» <viworm/r /? nnrtlriLlnr msintMk hri*in*>**.ftntmnt anaifahta until frnm IK #n 111 d*,^*\' "x ^'^-'^^Mfeuw^f^

*?» *»WP»' *^*»*,W-,V*fV?!i* »•••» «»,j,w»^-w*v«*f»*f s.««w»»*«p;w v*»?«f*^ro «•'^vrtV*, a complete picture of that month's operations, including^ ^^*^ i . ^ L^ «f r|Jto| f its close, l»» . ^P^^M^M

its close, and present almost every week the lot^ \ end charf*, can noe'6epre/en/ed^n pnnfed form^ its close'but^X&**^^ '""" " ' " " ^ " ' '

___T , 1925, receiveduntil from 15 to 30 days after theumbers, cumulative totals, text,

'

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Page 3: Siv.''. - • •- •%';; '^tp^^v;y^ · Wholesale price comparisons 5 Business summary . 6 Indexes of business (production, prices, sales, etc.) 25 TREND OP BUSINESS MOVEMENTS Page

UNITED STATES DEPARTMENT OF COMMERCEWASHINGTON

SURVEY OFCURRENT BUSINESS

BUREAU OF THE CENSUS

COMPILED BY

BUREAU OF FOREIGN AND DOMESTIC COMMERCE BUREAU OF STANDARDS

No. 53 JANUARY 1926

C O N T E N T STEXT MATERIAL Page

Preliminary summary for December 1'Course of business in November:

General conditions 6Summary of indexes of business 7Review by principal branches of industry and commerce. 8

BASIC CHARTS

Business indicators 2Wholesale prices in December 4"Production, stocks, and unfilled orders... 7Employment in manufacturing industries 24

GENERAL TEXT TABLES

Business indicators 3Wholesale price comparisons 5Business summary . 6Indexes of business (production, prices, sales, etc.) 25

TREND OP BUSINESS MOVEMENTSPage

Textiles 28Metals and fuels . 29Automobiles and rubber. 32Hides and leather 33Paper and printing _ _ 34Buttons and glass 35Building construction and housing , 35Chemicals and oils 38Foodstuffs and tobacco 39Transportation and public utilities 41Employment 44Distribution movement 45Banking and finance and foreign exchange 46United States foreign trade 48Canadian trade and industry 49

NEW DETAILED DATA

Face brick, book paper, fuel consumption, miscellaneous. 22, 23

PRELIMINARY SUMMARY FOR DECEMBERIndustrial production in December was at a higher

rate than in November, with increases in the produc-tion of pig iron, steel ingots, zinc, locomotives andsteel ships, deliveries of tin and silk, receipts of wool,and meltings of sugar by refineries, while smelteroutput of copper declined slightly. December out-put was also larger than in December, 1924, for thesecommodities except locomotive and ship construc-tion and wool receipts. Unfilled orders for steeland locomotives increased considerably during De-cember and in both cases were higher than a year ago.Concrete paving contracts were larger than in No-vember but less than in December, 1924, while morepatents were granted than in either the previousmonth or a year ago.

With a large holiday trade, sales of mail-orderhouses and the 10-cent chains reached record levels,.and similarly postal receipts and bank clearingswere considerably larger than a year ago, an increaseof 14 per cent being made by mail-order sales overDecember, 1924, Loadings of freight cars were

76014—26f 1

seasonally smaller than in November, but showed again of 6 per cent over the corresponding month of 1924.

Business failures made the usual year-end increase,but were smaller than a year ago in both number andliabilities. Interest rates averaged about the sameas in November, but were higher than a year ago.Large increases over both periods occurred in thediscounts of the Federal reserve banks, while reservesand the reserve ratio were lower. The amount ofmoney in circulation increased over November andwas larger than a year ago in total, but smaller on aper capita basis. Stock transactions were smallerin number than in November and in about the samevolume as in December, 1924.

The price movement in December was mixed.Foodstuffs and farm products except corn, cotton,and meat animals generally moved upwards, whilemetals, petroleum, coke, rubber, and textile andleather goods were generally lower. Prices of ironand steel and silk were important exceptions to thedeclines in their respective groups.

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Page 4: Siv.''. - • •- •%';; '^tp^^v;y^ · Wholesale price comparisons 5 Business summary . 6 Indexes of business (production, prices, sales, etc.) 25 TREND OP BUSINESS MOVEMENTS Page

BUSINESS INDICATORS: 1920-1925[Ratio charts—see explanation on inside front cover. Except for "Net freight ton-miles," latest month plotted is November, 1925; October is latest plotted for "Net

^freight ton-miles/' while the curve on bank debits has been adjusted for normal seasonal variations and that on manufacturing productibn for the varying numberHi of working days]

I9201 1321' 1922 1923' I924'I925RELATIVE TO 1913 AS 100

PRICES 25 INDUSTRIAL STOCKS: i i _j

INTEREST RATES, COMMERCIAL PAPER

HOLESALE PRICES (DEPT.OF LABOR)

(DEPT. OF AGRICULTURE)

I92011921 '1922 ' 1923 ' 1924' 1925RELATIVE TO 1919 AS 100

WHOLESALE TRADE. 6 LINES

300200

10080200

300200 \

1008060

40

h "V>\•• ^^^— N5^

UNF

y«*— -g^- —

^

^V^- —

! ^

LLED STEEL ORC ^^\erpo

rs^r^^

NET FREIGHT TON-MILES

40

-BUSINESS FAILURES.-PEFAULTED LIABlLiTIES"

1920 1921 ' 1922 1923 1924 1925

DEPT. STORE TRADE (359 STORES)

MAIL-ORDER SALES(4 HOUSES)

GENERAL MANUFACTURING PRODUCTION(64 COMMODITIES)

LUMBER PRODUCTION( 5 SPECIES)

AUTOMOBILE PRODUCTION( PASSENGER CARS AND TRUCKS)

FACTORY EMPLOYMENT

CONTRACTS£7 STATES)

1920 1921 1922 1923 1924 1925

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Page 5: Siv.''. - • •- •%';; '^tp^^v;y^ · Wholesale price comparisons 5 Business summary . 6 Indexes of business (production, prices, sales, etc.) 25 TREND OP BUSINESS MOVEMENTS Page

BUSINESS INDICATORS

The following table gives comparative relative numbers for a selected list of important business movements. It is believedthat this table will prove useful, because it separates out from the large mass of material a comparatively small number of itemswhich are often regarded as indicative of business in general.

The table has been divided into two parts, the first containing those items for which relative numbers can be calculated, using1913 as a base. The second part contains items for which comparable data back to 1913 are not available. This latter group ofrelative numbers is calculated by letting the 1919 monthly average equal 100. Care should therefore be exercised in comparing theabsolute value of the two sets of data. In either group, however, the upward or downward trend of the relative numbers, comparedto previous months, does reflect the present tendency in each item and will give a basis for business judgment.

Where available at the time of going to press, January 15, December indicators have been included, thusbringing this table up to date. It should be noted that the charts on page 2 show November data as the latestplotted, except for freight ton-miles, which shows October.

COMMODITY

Production:Pig ironSteel ingots ._ _ .Copper.. . ...Cement (shipments). . _Anthracite coal . . . . .Bituminous coalElectric energy (gross revenue sales)Crude petroleum . ....Cotton (consumption)BeefPork

Unfilled orders:United States Steel Corporation

Stocks:Crude petroleumCotton (total).

Prlces:iWholesale indexRetail foodRetail coal, bituminous .. . . .Farm products

Business finances:Defaulted liabilities ._ .Price 25 industrial stocksPrice 25 railroad stocks

Banking:Clearings, New York CityClearings, outside-Commercial paper interest rate . .

Distribution:Imports (value) „ .... „„_Exports (value) jSales, mail-order ...

Transportation:Freight, net ton-miles __,, .

Production :Lumber*. .Building contracts... ._ . _. .

Stocks:HeefPork

Business finances:Bond prices (40 issues).

Banking:Debits outside New York CityFederal Reserve-

Bills discountedTotal reserves .. .Ratio

MONTHLY AVERAGE

1990 mi 1922 1923 1924

1924

Sept. Oct. Nov. Dec.

195$

Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec.

1913 monthly average- 100

12013599

10893

119283178105119113

170

127155

226203207205

10818467

257275134

294331264

137

546438

1079987

31218997

113117

90

152198

147153197116

22913664

205212118

140181188

105

8711480

1315885

349224109126130

96

234153

149142188124

22816975

23023080

177154204

115

130144120153104118407295117130160

102

287125

154146190135

19718572

22627690

212168259

139

10112212816499

10143428599

133151

68

338112

150146169134

19819881

26428471

201185284

131

8011212422810010639728894

146103

69

35084

149147164132

15020185

24527757

192207279

143

97124134231101121427289114167118

60

348161

152149169138

15820284

27431457

208255364

158

9812413313989

106462272106149152

68

346190

153150171137

13621392

28429059

198238351

139

1161411317497

116506273114134191

82

338193

157152171139

19823195

32531764

224214411

128

1321661446997

130522287127146199

85

335172

160154170146

23823396

33932266

232216308

135

126149134819498

480261118105152

89

337150

161151172146

17623898

26727366

223179299

123

1391661451399394

45729212512yl i f t

82

337126

161151169151

14923595

29630971

258219318

129

1271421371959885

4492«7128131109

75

340103

156151161147

16323392

29030872

233193322

123

11413713722610789

429329114132116

89

34480

155152159146

16224596

30229770

219179262

136

10412713623710293

421322106127136

63

61

157155158148

16124896

30531770

218156271

131

10412213324510999

419325104145107

60

45

160160159149

15125697

29732371

218164248

139

10613613224911311342932396

13596

59

56

160160160152

Ifi3272101

256293

72

228184255

153

106138132240

1117450313104144«7

63

130

tfO189168144

134280102

27631376

234203309

151

118154138207

1133495311117173122

70

185

158162170143

129300103

,32935380

250237464

161

118155131138

2127

298117137127

78

216

158167179144

157300106

29831979

252216396

149

12715813494

132

124

85

237

156167

143

160305111

34234879

264226473

1919 monthly average— 100

10272

6698

86

114

1329780

8669

4283

87

91

91122122

117102

2970

107

95

28144154

133106

3291

104

107

39146152

129108

3488

108

108

19146160

13593

2061

109

104

13144160

140102

2844

110

119

12143157

126105

1246

110

107

11143154

110100

6070

110

124

16139145

12191

5985

110

127

14141155

12283

5594

111

106

22138151

136138

4990

111

121

21137154

143157

4188

111

117

21137154

146148

3181

113

116

21136153

151143

2696

114

124

24135153

141145

2112

123

24134154

154166

1976

111

113

30132149

153165

1759

111

119

33131144

157148

2046

111

137

30132144

140146

3146

112

122

32131142

137

3657

112

137

39129134

» Wholesale and retail prices from Department of Labor averaged for the month; farm prices from Department of Agriculture.> Based on the total computed production reported by 5 associations. Includes southern pine, Douglas fir, western pine, North Carolina pine, and California white

pine. The total production of these associations in 1919 was equal to 11,401,000,000 board feet, compared with a total lumber production for the country of 34,552,000 000board feet reported by the census.

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Page 6: Siv.''. - • •- •%';; '^tp^^v;y^ · Wholesale price comparisons 5 Business summary . 6 Indexes of business (production, prices, sales, etc.) 25 TREND OP BUSINESS MOVEMENTS Page

WHOLESALE PRICES IN DECEMBER[Bars denote percentages of increase or decrease in the wholesale prices of specified commodities as compared with the same month of 1924 and 1923]

COMMODITIES

COMPARISON WITHPREVIOUS MONTH

DECREASE INCREASE

20 JO Q IQ 20 50

COMPARISON WITH SAME MONTH COMPARISON WITH SAME MONTH1924 1923

DECREASE INCREASE DECREASE INCREASE

40 30 20 10 0 10 20 30 40 50 60 70 8050 40 30 20 10 0 10 20 30 40 50 60 70

WHEAT

CORN"POTATOES;

COTTON

COTTONSEED--CATTLE, BEEF -HOGS

LAMBS

WHEAT, SPRING

WHEAT. WINTER---CORN NO. 2

OATS---BARLEYRYE,N0.2 -

TOBACCO. BUCKLEY- "COTTON -~ - —

WOOL GREASE { BOSTON)-

CATTLE, STEERSHOGS, HEAVY -

(SHEEP, EWES"--SHEEP, LAMBS- —

FLOUR, SPRING- —

FLOUR, WINTER

SUGAR, RAWSUGAR. GRANULATED- —

COTTONSEED OILBEEF, CARCASS —BEEF, STEER ROUNDS — •HAMS, SMOKED (CHICAGO)—-

COTTON YARN-

COTTON PRINT CLOTH —COTTON, SHEETING

WORSTED YARN-

WOMEN'S DRESS GOODS

SUITINGS

SILK, RAWHIDES, PACKER'S *—-HIDES. CALFSKINSLEATHER, CHROME (BOSTON )--

JJEATHER. SOLE, OAK

BOOTS AND SHOES (BOSTONS--

BOOTS AND SHOES (ST. LOUIS)

COAL. BITUMINOUS -

COAL. ANTHRACITE-COKEPETROLEUM

PIG IRON, FOUNDRY

PIG IRON. BASICSTEEL BILLETS, BESSEMERCOPPER

LEADTIN- '-

ZINC

LUMBER, PINE, SOUTHERN

LUMBER, DOUGLAS FIR

BRICK, COMMON NEWYORK,)--CEMENT -

STEEL BEAMS^RUBBER CRUDE — -

SULPHURIC ACID ™

FARM PRODUCTS, AVERAGE ^RICE TO PRODUCER

20 10 Q 10 20 SO

DECREASE INCREASE

40 30 20 10 0 I0 2° 30 40 50 60 70 80 90 100 20 10 Q 10 20 30 40 50 60 70 80

DECREASE INCREASE DECREASE INCREASE

* NO CHANGE ** NO QUOTATION,

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WHOLESALE PRICE COMPARISONSNOTE.—Prices to producer on farm products and market price of wool are from U. 8. Department of Agriculture, Bureau of Agricultural Economics; nonferrous nietala

from the Engineering and Mining Journal-Press. All other prices are from U. S. Department of Labor, Bureau of Labor Statistics. As far as possible all quotations representprices to producer or at mill. See diagram on page 4.

COMMODITIES

FARM PRODUCTS-AVERAGE PRICE TO PRODUCERS

WheatCornPotatoesCotton

Cattle beefHogs , ... - .--Lambs

FARM PRODUCTS-MARKET PRICE

Wheat No 1 northern, spring (Chicago)Wheat, No 2, red, winter (Chicago) - .-Corn, contract grades, No. 2, cash (Chicago)Oats contract grades, cash (Chicago) -Barley, fair to good, malting (Chicago) - -Rye, No. 2, cash (Chicago)Tobacco, burley, good leaf, dark red (Louisville)Cotton, middling upland (New York)Wool & blood combing Ohio and Pennsylvania fleeces (Boston)Cattle, steers good to choice, corn fed (Chicago) - --Hogs, heavy (Chicago) -- -Sheep, ewes (Chicago)Sheep, lambs (Chicago) _ -

FOOD

Flour, standard patents (Minneapolis)Flour, winter straights (Kansas City) ...Sugar, 96° centrifugal (New York)Sugar, granulated in barrels (New York)Cottonseed oil prime summer yellow (New York),*.Beef, fresh carcass good native steers (Chicago) .". - --Beef fresh steer rounds No 2 (Chicago)Pork, smoked hams (Chicago) .

CLOTHING

Cotton varns carded white northern mulespun, 22-1 cones (Boston)Cotton print cloth, 27 inches, 64 x 60-7.60 yards to pound (Boston)Cotton sheeting, brown 4/4 Ware Shoals L. L. (New York)Worsted yarns, 2/32's crossbred stock, white, in skein (Boston)Women's dress goods, French, 35-36 inches at mills, sergeSuitings, wool, dyed blue, 55-56 inches, 16-ounce Middlesex (N. Y.)Silk, raw Japanese, Kansas No. 1 (New York)Hides, green salted, packer's heavy native steers (Chicago)Hides, calfskins, No. 1, country, 8 to 15 pounds (Chicago) _.Leather chrome calf, dull or bright "B" grades (Boston)Leather, sole, oak, scoured backs, heavy (Boston)Boots and shoes, men's black calf, blucher (Massachusetts)Boots and shoes, men's dress welt tan calf (St. Louis) .

FUEL

Coal, bituminous, mine run lump (Cincinnati),.Coal, anthracite, chestnut (New York tidewater)Coke, Connellsville (range of prompt and future) furnace — at ovensPetroleum, crude, Kansas-Oklahoma — at wells

METALS

Pig iron, foundry No. 2, northern (Pittsburgh) . .Pig iron, basic, valley furnace

Copper ingots, electrolytic, early delivery (New York)Lead pig, delivered, for early delivery (New York)Tin, pig, for early delivery (New York) .Zinc, slpb, western (St. Louis) .. - ..

! BUILDING MATERIAL AND MISCELLANEOUS

Lumber, pine, southern, yellow flooring, 1 x 4, "B" and better (Hat-tiesburg district)

Lumber, Douglas fir, No. 1, common, s 1 s, 1 x 8 x 10 (Washington)Brick, common red, domestic building (New York)Cement, Portland, net without bags to trade, f. o. b., plant (Chicago

district) _.1 Steel beams, mill (Pittsburgh)! Rubber, Para, Island, fine (New York) . __ _

Sulphuric acid, 66° (New York)

Unit

BushelBushelBushelPoundTonPoundPoundPound

BushelBushelBushelBushelBushelBushelCwtPoundPoundCwtCwtCwtCwt

BarrelBarrel— -.PoundPoundPoundPoundPoundPound. __ - .

PoundYardYardPoundYardYardPoundPoundPoundSquare foot.PoundPairPair

Short tonLong tonShort ton__Barrel-

Long tonLong ton...

PoundPoundPoundPound

MfeetMfeetThousand-

BarrelCwtPoundCwt

ACTUAL PRICE(dollars)

Novem-ber, 1925

1 488756

1 984181

27 64.0614.1066.1215

1.6121. 711.841.403.715.857

25.00.208.54

10. 57511.3206.785

15. 250

8.5387.613.040.051.101.178.143.282

.407

.063

.1081.600.800

3.6006.566.163.198.460.470

6.405.15

3.3911. 296.881.588

22.1419.8824.75

.1435

.0974

.6214

.0861

48.2716.5014.75

1.651.95.853.70

Decem-ber, 1925

1.537.707

2.015.174

27.87.0618.1051.1267

1.7681.796.797.422.716

1.03825. 00

.202

.5510. 04410. 8818.063

15. 938

9.1807.888.041.053.106.170.131.280

.402

.061

.1031.550.800

3.6006.811.156.192.460.460

6.405.13

3.39

"I'll1.550

22.2620.0035.00

.1387

.0931

.6195

.0857

49.8315.5014.75

1.651.95.764.70

Decem-ber, 1924

1.4111.056.641.240

35.48.0535.0839.1096

1.6871.7691.233.598.935

1.40424.50

.238

.709.559.967.58

15.98

8.8957.788.053.072.114.183.125.207

.446

.068

.1081.950.775

3.6906.321.174.209.480.480

6.255.00

3.3911.734.041.195

22.9620.9036.00

.1426

.0921

.5572

.0737

44.4216.5013.50

1.682.00.315.70

PER CENTINCREASE (+) OR

DECREASE (— )

Decem-ber, 1925,

fromNovem-ber, 1925

+3.3-5.2+1.6-3.9+0.8+0.7-1.4+4.3

+9.7+5.0-5.2+4.7+0.1

+21.10.0

-2.9+1.9-5.0-3.9

+18.8+4.5

+7.5+3.6+2.5+3.9+5.0-4.5-8.4-0.7

-1.2-3.2-4.6-3.1

0.00.0

+3.7-4.3-3.0

0.0-2.1

0.0-0.4

0.0

-35.3-2.4

+0.5+0.6+0 7-3.3-4.4-0.3-0.5

+3.2-6.1

0.0

0.00.0

-10. 40.0

Decem-ber, 1925,

fromDecem-ber, 1924

+8.9-33.0

+214. 4-27.5-21.4+15.5+25.3+15.6

+4.8+1.5

-35.4-2,9.4-23.4-26.1+2.0

-1-5. 1-21.4+5.2+9.2+6.4-0.3

+3.2+1.3

-22.6—26.4-7.0-7.1+4.8

+35.3

-9.9-10.3-4.6

-20.5+3.2-2.4+7.8

-10.3-8.1-4.2-4.2+2.4+2.6

0.0

+10.1+29.7

-3.0-4.3

2 8-2.7+1.1

+11.2+16.3

+12.2-6.1+9.3

-1.8-2.5

+142. 50.0

RELATIVE PRICE(1913 average=100)

No-vem-ber,1925

188121332151127104142199

177174135107114135189162216124135145196

186198115120140137109170

16418217620625423318089

105171105206163

154213282170

13813513594

223140157

210179225

16312910670

De-cem-ber,1925

194114338145128105140208

194182127112115163189158220118130172205

200205118123146131100168

16217716720024223318785

102171103206162

154

182166

13913613691

213140156

216168225

1631299570

De-cem-ber,1924

17817110720016391

112180

185179197159150221186186280112119162205

194 ;202151169158141

95 i125

18019617625124623917495

111 i178107 [201158 :

154 :221 1165128 j

\

14314214093

211126134

193179206

1661313970

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BUSINESS SUMMARY[Index and relative numbers based on the 1919 monthly average as 100—except unfilled orders which are based on the 1920 average—enable comparisons to be made of the

relative condition of the several phases of business. The use of index and relative numbers is more fully explained on the inside front cover, and details of this sum-mary are given in the table entitled "Indexes of Business," beginning on p. 23]

PRODUCTION:Manufacturing (64 commodities — Ad-

justed) *Raw materials, total

MineralsAnimal productsCropsForest products.

Electric powerBuilding (awards — floor space)

STOCKS (45 commodities; seasonal adjust-ment)

UNFILLED ORDERS (relative to 1920) _

SALES (based on value) :Mail-order houses (4 houses)Ten-cent chains (5 chains)Wholesale tradeDepartment stores (359 stores) .. . .

PRICES (recomputed to 1919 base) :Producers', farm productsWholesale, all commoditiesRetail foodCost of living (including food) -

CHECK PAYMENTS (141 cities — Seasonal ad-justment)

FACTORY EMPLOYMENT (1919 base)

TRANSPORTATION :Net freight ton-mile operation _Car loadings (monthly total)Net available car surplus (end of mo.) _ _

YEARLYAVERAGE

1923

119113131117102121144106

11974

9916583

124

65757894

10393

11511925

1924

113118123117118119152108

13552

10518582

125

64737895

10984

108116139

1924

Sep-tember

11415212811019311914893

13446

10616992

119

63727995

11081

11811970

October

116179135112246123160102

13543

141203

95141

66748096

10981

13115659

Novem-ber

114156120125195114156105

13553

13119984

141

66748196

11081

115112111

1925

Sep-tember

122150125105191129169155

14952

11319194

122

69788598«

12784

1251 123

85

October

132157132115196135183148

13253

170237101165

68778799

13285

13315966

Novem-ber

129145124119174120178146

13358

14422088

145

69779099

12786

12311783

PER CENT INCREASE (+)OR DECREASE (— )

November,]925, fromOctober,

1925

2. 37 6

-6.1+ 3. 511. 2

-11. 1-2.8-1. 4

+ 0.8+ 9.4

15 37 2

12. 9-12. 1

+ 1.50.0

+ 3.40.0

-3.8+ 1.2

-7.426 4

+ 25.8

November,1925, from

November,1924

+ 13.27 1

+ 3.34 8

10 8+ 5. 3

+ 14.0+ 39.0

1. 5+ 9. 4

+ 9.9+ 10.6+ 4.8+ 2.8

+ 4.5+ 4.1

+ 11.1+ 3. 1

+ 15.5+ 6.2

+ 7.1+ 4.5

-25. 2

i See p. 28, Jan., 1925, issue (No. 41), for details of adjustment.

COURSE OF BUSINESS IN NOVEMBER

GENERAL CONDITIONS

Considering the length, of working time, industrialoutput in November was maintained at 2 per centbelow high level recorded for the previous month, thegeneral average for all industries being 16 per centabove November, 1924. Such basic commodities aspig iron, steel ingots, railroad locomotives, and zinccontinued the increases recorded in October, whilethe consumption of cotton by textile mills, withallowance for the difference in the length of month,also continued its upward tendency. Althoughawards for new construction were smaller than inOctober, the November lettings were substantiallyahead of November, 1924.

Paralleling the high level of industrial output wasan increase over both the previous month and a yearago of more than 10 per cent in the unfilled bookingsof producers of iron, steel, and building materials.

Stocks of commodities, after allowance for normalseasonal tendencies, showed little change from eitherthe end of October or November, 1924.» Distribution of merchandise by rail and water,seasonal conditions considered, was larger than ineither the preceding month or November, 1924.Sales of goods by mail-order houses and 10-centchains, though seasonally smaller than in October,were well above a year ago, while department storetrade was maintained at the October high level, theNovember sales volume being 3 per cent greater thanthat of a year ago. The usual seasonal decline fromOctober occurred in the volume of wholesale trade,with the November total 4 per cent ahead of Novem-ber, 1924.

Although average wholesale prices were 3 per centhigher in November than a year ago, no perceptible

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change was noted from the quotations of the preced-ing month. Employment continued to show increases,with an advance of 6 per cent over November, 1924,in the number of industrial workers engaged and 9per cent in the amount of pay roll. Sales of lifeinsurance, though smaller than in October, werelarger than a year ago.

Bills discounted by Federal reserve banks increasedduring November and at the end of that monthwere almost three times as large as a year ago whiletotal reserves and the reserve ratio continued todecline. Loans and discounts of member bankscontinued to mount while investments were declining.

Interest ratesjbn call| loans j.averaged lower than inOctober and were almost twice as high as a year ago,while rates on commercial paper, though higher thana year ago, showed relatively little change from thepreceding month. Dividend and interest disburse-ments scheduled for payment during December wereconsiderably higher than in either the previous monthor a year ago, while average prices for industrial stocksin November were lower than in October, though pricesfor railroad stocks averaged higher. Business failureswere larger both in number and in defaulted liabilitiesthan in either the preceding month or November,1924.

SUMMARY OF INDEXES OF BUSINESS

PRODUCTIONManufacturing output in November, at 29 per cent

above the 1919 average, with allowance for length ofworking time and 13 per cent above November of ayear earlier, showed the following group increases overa year ago: Iron and steel, 24 per cent; lumber, 16per cent; oils and chemicals, 9 per cent; paper andprinting, 12 per cent; tobacco products, 9 per cent;stone and clay products, 9 per cent; textiles, 4 per cent;nonferrous metals, 5 per cent; and food-stuffs, 3 percent, with a decrease from November, 1924, in theoutput of leather and its products.

The production of raw materials was smaller inNovember than in either the previous month or ayear ago, increases over November, 1924, in the out-

put of mineral and forestry products being insufficientto offset declines in the marketings of animal productsand crops. Declines from a year ago in the market-ings of animal products were general with the excep-tion of fish and milk, which showed increases. Forcrops similar conditions existed, with an exception inthe marketings of cotton and miscellaneous products,which increased over a year ago.

Among the minerals, increases over November,1924, were recorded in the output of petroleum,bituminous coal, iron ore, lead, and zinc, with declinesin anthracite coal, copper, gold and silver. Forforestry products, increased output was registered inlumber and wood distillation while declines from ayear ago were recorded in pulpwood and gum.

RELATIVE PRODUCTION, STOCKS, AND UNFILLED ORDERS FOR MANUFACTURED COMMODITIES

[1920 monthly average=100. This chart shows stocks of manufactured commodities only, while adjustment has been made for both stocks and production for the respectiveseasonal movements. Unfilled orders are principally those for iron, steel, and building materials. November, 1925, is latest month plotted, the production curve beingbased on preliminary figures, which were 3 points higher than the later figures presented in the text.]

160

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8

COMMODITY STOCKS

Stocks of commodities held at the end of Novembershowed little change from the previous month and ayear ago, after adjustment for seasonal conditions.Increases over November 30, 1924, in the holdings ofraw materials for manufacture, amounting to 12 percent and in the stocks of manufactured commoditiesof 10 per cent, balanced declines of 16 per cent in rawfoodstuffs stocks and 14 per cent in inventories ofmanufactured foodstuffs.

SALES

The unfilled order index of iron and steel andbuilding materials increased 9 per cent over boththe preceding month and November a year ago.Iron and steel unfilled orders were 9 per cent higherthan in October and 12 per cent higher than a yearearlier and orders for building materials 7 per centhigher than in October and 2 per cent greater thanin November, 1924.

The index of wholesale trade increased 5 per centover November of last year, the decline from Octoberbeing largely of a seasonal character. All groupsparticipated in the general increase over a year ago,the increases, in value of sales, ranging from 1 percent for drugs to 13 per cent for meats.

Sales of mail-order houses were 15 per cent smallerthan in October, but 10 per cent greater than a yearearlier, as seen from reports from 4 houses. Salesby 10-cent, music, grocery, drug, and candy chainsalso recorded larger volume than in November, 1924,while declines from a year ago were registered in thesales of cigar chains and shoe chains. Departmentstore sales were also smaller than in October; but were3 per cent larger than a year ago. Department storemerchandise stocks increased during November bothas compared with October and a year ago.

PRICES

Average prices received by farmers in Novembershowed an increase of almost 1 per cent from October

and 5 per cent over a year ago. Advances over theprevious month were general, except for meat animalsand cotton, which declined; while, as compared withthe preceding year, prices for grain, cotton, and un-classified commodities were alone lower.

Wholesale prices, as seen from the Departmentof Labor index, showed no change in the generallevel which prevailed during the preceding monthbut averaged 3 per cent higher than a year ago.Prices for food, fuel and lighting, metals and metalproducts, building materials and miscellaneous goodsincreased over October, but these increases were in-sufficient to offset the decline which occurred in theprices of farm products, cloths and clothing andhouse-furnishing goods. Increases were shown in thewholesale prices for producers' goods and consumers'goods over the preceding month, while raw productsdeclined. Commercial indexes showed higher pricesin November than in the preceding month.

The cost of living index continued to rise, standingfor November at something less than 4 per cent abovea year ago, the principal increase, over both the pre-vious month and a year ago, occurring in the cost offood.

EMPLOYMENT

Industrial employment was 1 per cent greater thanin October and 6 per cent larger than a year ago, withall industrial groups showing increases over lastyear with the exception of food and tobacco products.The greatest increase in industrial employment wasregistered in vehicle factories and chemical plantswith no change noted from a year ago in lumber plants.Reports from States and cities indicate that the in-creases in employment were practically general overthe country.

Factory pay rolls, while recording no change fromthe preceding month, were 9 per cent above a yearago, with the greatest increase, amounting to 20 percent, in vehicle factories, principally automobile,and only leather pay rolls showing a decline from theprevious year.

REVIEW BY PRINCIPAL BRANCHES OF INDUSTRY AND COMMERCE

TEXTILES

Receipts of wool at Boston were smaller than inOctober, the decline in the total being due to smallerarrivals of foreign wool. As compared with Novem-ber, 1924, wool receipts were smaller both as respectsdomestic and foreign wools. For the year thus far,an increase of about 2 per cent was registered over thefirst 11 months of 1924 in wool receipts. Importsof unmanufactured wools were larger by 5 per centand 53 per cent, respectively, than in October and ayear ago, while for the first 11 months the amount

of wool imported was 34 per cent greater than thecorresponding movement in 1924.

The consumption of wool by textile mills was smallerin November than in the previous month, this declinebeing very largely due to the shorter month. Woolenmachinery showed increased spindle-hour activity asregards all looms and carpet and rug machinery withdeclines from October noted in the activity of allspindles. Prices of raw wool advanced 6 per cent overOctober, but the prevailing quotations were 12 per centbelow a year ago. No changes were recorded in the

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prices for dress goods and men's suitings, but declinesof 3 per cent occurred in worsted yarn prices fromOctober.

Ginnings of cotton at the end of November were13 per cent greater than a year earlier while thereceipts of cotton into sight in November were 6 percent larger than a year ago. Exports of unmanufac-tured cotton, though smaller than in either thepreceding month or November, 1924, were 32 percent larger for the calendar year thus far than duringthe same period of 1924. Consumption of cottonby textile mills was smaller than in October but 10per cent larger than a year ago and, if allowance weremade for the shorter month, the November totalswould show an increase in activity in cotton millsover the preceding month. For the year thus farcotton consumption was 17 per cent greater thanduring the first 11 months of 1924.

RAW COTTON CONSUMPTION AND EXPORTS

[November, 1925, is latest month plotted]

Stocks of cotton held at mills and warehouses at theend of November were 14 per cent greater than a yearago, with an increase of 39 per cent over November30, 1924, in the holdings at mills. The world visiblesupply of cotton was 17 per cent higher at the end ofNovember than a year earlier.

More cotton spindles were active in Novemberthan in the preceding month and, despite a declinein the spindle-hour activity, the percentage to capacityrecorded an increase of 7 per cent over October and 9per cent over November, 1924. Billings of finishedcotton goods were smaller than in October but largerthan a year ago, while the operating activity of cottonfinishers showed similar comparisons. Exports ofcotton cloth, though smaller than in either October ora year ago, were, for the first 11 months of 1925, 14per cent greater than during the corresponding periodof 1924. Fine cotton goods produced in the NewBedford district showed a decline from both the pre-

76014— 26f 2

ceding month and a year ago, while the totals for theyear thus far were 20 per cent greater than was regis-tered for the same period of last year.

Wholesale prices of raw cotton averaged 6 per centand 14 per cent, respectively, lower than in the pre-vious month and in November, 1924. Prices forcotton yarns and print cloth were likewise lower inNovember.

SPINDLE ACTIVITY IN COTTON MILLS

[November, 1925, is latest month plotted]

1921

Imports of raw silk in November were 6 per centsmaller than in October but 7 per cent greater thana year ago, while deliveries of silk to consumingestablishments were 11 per cent smaller than in theprevious month and 27 per cent greater than a yearago. Silk deliveries during the first 11 months of1925 were 38 per cent greater than in the same periodof 1924. Stocks of silk held at the warehouses atthe end of November were 16 per cent smaller than ayear ago. The wholesale price of silk in the NewYork market, though averaging 2 per cent belowquotations in October, was 6 per cent higher than ayear ago.

Imports of burlap were smaller than in Octoberbut larger than a year ago while for unmanufacturedfibers imports were larger than in October and smallerthan in November, 1924. In the case of both burlapand fibers the arrivals from abroad during the first11 months of 1925 were greater than during the sameperiod of 1924.

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10

IRON AND STEEL

Shipments of iron ore from the mines were morethan twice as great in November as a year ago whilefor the calendar year an increase in this movementover the previous year amounting to 27 per cent wasrecorded. Consumption of iron ore, though smallerthan in October because of the shorter month, was23 per cent higher than a year ago, while for the 11months ending November 30, the increase over thesame period of 1924 amounted to 20 per cent. Stocks

of iron ore were 2 per cent larger on November 30than the holdings of a year ago.

Production of pig iron in November showed nochange from October, but was 20 per cent larger thanin November, 1924, making the increase in the total forthe first 11 months 18 per cent over the same periodof 1924. Merchant pig iron production showed anincrease in November both as respects the precedingmonth and a year ago. More pig iron furnaces werein blast at the end of November than at the end ofeither the preceding month or a year ago.

PRODUCTION OF PIG IRON AND UNITED STATES STEEL CORPORATION'S UNFILLED ORDERS

[November, 1925, is last month plotted]

14,000

600

The production of steel ingots was larger than inOctober, the November output being 25 per centabove a year ago. For the first 11 months of 1925,steel ingot production was 21 per cent greater thanduring the corresponding period of 1924. The outputof steel sheets by independent mills, though 4 percent smaller than in October, was 49 per cent aheadof November, 1924, while the total for the yearthrough November was 34 per cent greater than forthe same period of 1924. Unfilled orders for steelregistered increases of 12 per cent and 14 per cent,respectively, over the preceding month and Novem-ber a year ago. Corresponding increases in the for-ward business of independent steel mills were notedas compared with both these periods.

Bookings of steel castings were 14 per cent greaterthan in October but 6 per cent smaller than a year ago,an increase of 14 per cent in the orders for miscellaneousbookings as compared with November, 1924, beinginsufficient to offset the decline of 23 per cent in rail-road specialties. Bookings of fabricated structuralsteel declined from both the preceding month andNovember, 1924, but for the year thus far an increaseof 13 per cent was registered over the first 11 monthsof 1924. New bookings of fabricated steel plate,although larger than in October, were smaller thana year ago. Wholesale prices for iron and steelaveraged higher than in October.

New orders for machine tools were 8 per centgreater than in October and more than twice as largeas a year ago. New sales of foundry equipment alsoincreased over both the previous month and a yearago. New orders for power pumps, although smallerthan in October, were well above November, 1924.

NONFERROUS METALS

The mine production of copper was 4 per centsmaller than in October and 1 per cent smaller than ayear ago, while the total output at the mines duringthe first 11 months of 1925 was 7 per cent greater thana year ago. Smelter production of copper, althoughsmaller than in October, was 5 per cent greater thanin November, 1924. The world production of blistercopper was 4 per cent smaller in November than inthe preceding month and 9 per cent greater than a yearago, while the total for the first 11 months was 6 percent larger than the output during the correspondingperiod of 1924. Domestic shipments of refined copperin November were 8 per cent and 42 per cent greater,respectively, than in either the previous month or ayear ago. Copper exports declined from both thepreceding month and a year ago, while for the yearthus far a decline of more than 1 per cent was notedfrom the corresponding period of 1924 in the coppershipments abroad. Stocks of refined copper held inNorth and South America were 7 per cent smaller at

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11the end of November than the holdings of the previousmonth. Stocks of blister, on the other hand, were1 per cent greater than the holdings of a month earlier.

COPPER PRODUCTION AND EXPORTS

[November, 1925, is latest month plotted]

The consumption of tin as indicated by deliveries tomills was smaller in November than in either the pre-ceding month or a year ago but the total for the first11 months of 1925 was 17 per cent greater than duringthe same period of 1924. Stocks of tin held in theUnited States were 23 per cent and 9 per cent smaller,respectively, than the holdings at the end of Octoberand a year ago. Tin imports in November were 29per cent smaller than in October and 9 per cent greaterthan in November, 1924, bringing the total for thefirst 11 months 16 per cent above the imports duringthe same period of the preceding year. The wholesaleprice of pig tin averaged 3 per cent and 15 per centhigher, respectively, than the quotations prevailingin the preceding month or a year ago.

The output of primary zinc was greater than inOctober, the November production registering anincrease of 19 per cent over a year ago. For the first11 months of 1925 an increase of 10 per cent was regis-tered in the production of zinc. More retorts were inoperation on November 30 than at the end of either thepreceding month or November, 1924. Stocks of zinccontinued to decline, the holdings at the end of Novem-ber being 74 per cent below a year ago, while the pricecontinued to average higher, the November quota-tions being 27 per cent above the prevailing prices of ayear earlier.

The output of lead, although 6 per cent smallerthan in October, was 7 per 6ent greater than inNovember, 1924, while the total for the first 11months of 1925 registered an increase in lead pro-duction over 1924, amounting to 9 per cent. Leadore shipments from the Joplin district were greaterin November than in either the previous month orin November, 1924, the total thus far this year being29 per cent above the corresponding total for 1924.Stocks of lead held in the United States and Mexico

at the end of October were greater than at the endof either the previous month or a year ago, whilethe price of lead at New York was higher in Novem-ber than in either of these comparative periods.

Consumption of Babbitt metal declined in Novemberfrom the previous month. Shipments of fire ex-tinguishers were likewise smaller than in October.

RELATIVE PRODUCTION AND STOCKS OF ZINC

[1913 monthly average=100. November, 1925, is latest month plotted]

FUELS

The output of bituminous coal in November,although 5 per cent smaller than in the previousmonth, was 21 per cent greater than a year ago,while for the year thus far the output was 8 per centlarger than in the same period of 1924. Bituminouscoal exports were 19 per cent and 52 per cent larger,respectively, than in either the preceding month ora year ago. Consumption of bituminous by vessels,although smaller than in October, was 18 per centgreater than in November, 1924, with the total forthe first 11 months 10 per cent greater than for thesame period of the previous year.

PRODUCTION OF BITUMINOUS AND ANTHRACITE COAL

[November, 1925, is latest month plotted]

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Mine prices for bituminous coal were 6 per cent and11 per cent higher, respectively, than in October anda year ago. On November 1, 1925, the stocks ofbituminous in the hands of consumers were larger thanthe holdings a year earlier.

The production of anthracite coal, though nominal,due to virtual shut down of the mines, was morethan twice as large in November as in the previousmonth, but for the year thus far a decline in anthra-cite output from the same period of 1924 amountingto 25 per cent was registered. Wholesale prices forchestnut coal in New York markets averaged slightlyhigher than in October.

Production of beehive coke as well as by-productcoke registered increases over both the precedingmonth and a year ago, each of these types showingfor the calendar year thus far substantial increasesover 1924.

Production of crude petroleum declined from Octo-ber but was almost 10 per cent greater than inNovember, 1924. Imports, however, increased overOctober but were 26 per cent less than a year ago.Tank-farm and pipe-line stocks were 5 per cent lowerthan on November 30, 1924.

Output of refined oils also declined from October,except lubricating oil, but increases were made over ayear ago, except for Kerosene. Kerosene alone alsoshowed the only decline in stocks from a year ago,large increases occurring in the other products.

PRODUCTION OF BEEHIVE AND BY-PRODUCT COKE

[November, 1925, is latest month plotted]

1925

AUTOMOBILES

The production of passenger automobiles in No-vember, although 17 per cent smaller than in theprevious month, was 65 per cent greater than inNovember, 1924. For the first 11 months passengervehicles produced were 15 per cent larger in numberthan during the corresponding period of 1924. Auto-mobile trucks produced in November showed similarcomparison with the previous month and November,1924, while for the year thus far an increase in pro-duction amounting to 32 per cent was registered overthe same period of the previous year.

COMPARISON OF AUTOMOBILE PRODUCTION AND NEW BUILDING CONTRACTS

[November, 1925, is latest month plotted. Cumulatives for 1925 are through November]

550 550I I ' ' l92'5-'CUMuLAtivEs '-1926*

CONTRACTS AWARDED( 27 STATES)

BUILDINGCONTRACTS

AUTOMOBILEPRODUCTION

I 2 3 4 5 6 7 8 9 10 II YR.

1924-CUMULATIVES - 1924

TOTAL AUTOMOBILEPRODUCTION

, I 2 3 4 5 6 7 8 9 10 II YRI I I 1 I I I I I I i I I I i I I I I

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-L3

Exports of assembled automobiles were 26 per centand 111 per cent greater, respectively, than in thepreceding month and a year ago, while for the 11months ending November 30, shipments of automo-bile vehicles abroad were 63 per cent larger in numberof cars than during the corresponding period of thepreceding year, with trucks registering almost 100-per cent increase. Shipments abroad of accessoriesand parts, although smaller than in the previousmonth, were 12 per cent greater than a year ago,with a similar percentage increase for the first 11months as compared with the same period of 1924.

RUBBER

Imports of crude rubber were 9 per cent larger than inOctober and 12 per cent greater than in November,1924. For the first 11 months of 1925 rubber im-ports were 18 per cent greater than in the sameperiod of the preceding year. The wholesale price ofrubber averaged higher than in either October or inNovember, 1924.

HIDES AND LEATHER

Imports of hides and skins, although 36 per centlarger than in October, were 17 per cent smaller thana year ago, an increase in the importation of goat-skins, amounting to 79 per cent, being insufficient tooffset declines in the imports of calfskins, cattle hidesand sheepskins. For the year thus far, imports ofhides and skins were 6 per cent greater than duringthe same 11 months of 1924. Prices of hides andskins averaged lower in November than in either thepreceding month or a year ago.

IMPORTS OF HIDES AND SKINS

[November, 1925, is latest month plotted]

80,0001

60,000!

40,000

1,000

The production of sole leather in November was18 and 10 per cent smaller, respectively, than in thepreceding month and a year ago but for the calendaryear thus far sole leather output was 4 per cent largerthan during the first 11 months of 1924. The out-put of oak and union harness leather, althoughsmaller than in October, was 17 per cent greater thanin November, 1924, but the total through November30 was more than 2 per cent less than during the sameperiod of the previous year. The production of skiversshowed declines in November from both the precedingmonth and a year ago, while the total for the first11 months was 2 per cent larger than for the sameperiod of 1924. Although unfilled orders for oak andunion harness were 10 per cent smaller at the end ofNovember than the forward business of the precedingmonth, they were 5 per cent greater than on Novem-ber 30, 1924.

Exports of sole leather declined 39 per cent fromboth October and a year ago while upper leatherj

shipments abroad, although 2 per cent smaller thanin October, were 13 per cent greater than a year ago.As against a decline of 15 per cent from 1924 in thetotal exports of sole leather for the first 11 months ofthis year, there was an increase of 7 per cent over thesame period in the exports of upper leather. Theprices for sole leather averaged higher in Novemberthan in either the previous month or a year ago,with no changes noted from either of these periods inthe prices of chrome calf.

The production of boots and shoes in Novemberwas smaller than in the preceding month while bootand shoe exports were larger than in either the pre-ceding month or a year ago. Wholesale prices forshoes, although somewhat higher than the quotationsof a year ago, showed no change from October levels.The production of glove leather in November was 3per cent and 21 per cent larger, respectively, than inthe previous month and in November, 1924, with thetotal for the 11 months ending November 30 being 9per cent greater than in the same period of the pre-ceding year. Stocks of glove leather in the process oftanning were greater than at the end of October whilefinished stocks were less. Stocks, both in process andfinished, were smaller on November 30 than theholdings of a year earlier.

PAPER AND PRINTING

Wood-pulp activity was slightly less than inOctober except for imports of mechanical pulp,while increases occurred over a year ago in all itemsexcept stocks of chemical pulp, imports of mechanicalpulp showing a gain of 41 per cent over November,1924, and production 14 per cent.

Newsprint paper production, shipments and stockswere also less than in October, but about 10 per centgreater than a year ago except stocks at mills, which

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14

declined 31 per cent. Imports declined from Octoberbut increased over November, 1924, while exports weremuch greater than in either period. The number ofbook titles published declined from both October anda year ago, while shipments of salesbooks, though lessthan in October, were 13 per cent greater than inNovember, 1924.

Boxboard activity declined slightly from Octoberexcept for unfilled orders, but increased over a year agoexcept for stocks and rate of operation. Other classesof paper also had lower production and stocks than inOctober, while compared with November, 1924,production showed little change outside of an increaseof 24 per cent in fine paper, while stocks were generallylower, an increase of 28 per cent in book paper stocksbeing a prominent exception. Total paper productionwas 8 per cent less than in October but 7 per cent aboveNovember, 1924, stocks declining from both periods.

NEWSPEINT PAPER PRODUCTION AND MILL STOCKS

[November, 1925, is latest month plotted]

GLASS AND BUTTONS

Activity in the illuminating glassware industry wasslightly less than in October but higher than a yearago except for production. Polished plate glass out-put declined from November but was 22 per cent.larger than a year ago. Data supplied by the GlassContainer Association, covering 41 manufacturers ofglass containers, follows:

GLASS CONTAINERS

Net orders received (less cancellations)..ProductionShipments.. .Unfilled orders, end of month..Stock on hand, end of month

September 1 October November

Number of gross

2, 202, 3421, 759, 9261, 916, 1426, 782, 5994, 106, 947

2, 312, 1962, 031, 6201, 864, 9857, 245, 4004, 521, 215

2, 378, 4571, 921, 8181, 569, 8158, 400, 2764, 925, 878

i One firm missing in September.

November output of fresh-water pearl buttons, at47 per cent of capacity, showed a slight reductionfrom October production, while stocks increasedslightly during November. Compared with a year

ago, production was 31 per cent higher and stocks 10per cent lower.

BUILDING CONSTRUCTION

Building costs showed a slightly upward tendencyin November. The awards for building constructiondeclined from October in a seasonal movement with a6 per cent decline in volume and 11 per cent loss invalue, but November awards were 41 per cent higherthan a year ago in volume and 22 per cent higher invalue. Except for a decline of less than 1 per cent inpublic works awards, all classes of constructionshowed large increases over the 1924 awards.

Although fire losses were 26 per cent higher than inOctober, a decline of 22 per cent was made from ayear ago.

DISTRIBUTION OF BUILDING CONTRACTS BY CLASS OF CON-STRUCTION AND GEOGRAPHIC DISTRICTS

[Data are twelve-month moving monthly averages. November, 1925, is the latestmonth plotted]

• i i i i i i . | • i j

RESIDENTIAL

COMMERCIAL AND INDUSTRIAL10

50

40

20

101922

DISTRICTS AND TOTAL VALUES FOR 1924(IN THOUSANDS)

2 NEW YORK 1,329^3933 ' *•••' CHICAGO 1,049.5884 PITTSBURGH 578,3865 • • • • • • PHILADELPHIA 477.746.Q o oooo o BOSTON 352.1957 MINNEAPOLIS' 88.284

PUBLIC AND1*SEMI-i ' I i i I i i I i i | i i I i

1923 1924

PUBLIC

1925

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The foregoing chart shows strikingly the course and€omposition of building by major districts since 1921,it having been constructed with a view to showingthe ratio between each major group and the total asadduced from building contracts awarded in the 27northeastern states. The first point plotted coversthe average for the twelve months ending January,1922; the second point the twelve months endingFebruary, 1922, etc. By this means, it has been pos-sible to show the changes occuring since the presentbuilding wave set in, both as regards the total andthe respective important districts.

BUILDING MATERIALS

Lumber production in November showed the usualseasonal decline; compared with a year ago, southernpine output was almost stationary, redwood declined,while other species generally increased in output.Shipment trends were similar to production, exceptfor redwood, where an increase in shipments was noted

-over October. New orders for Douglas fir increasedover [both the previous month and a year ago, butorders for other species declined from both periods.Stocks of southern pine lumber declined from October31, but increased over a year ago, while western pinestocks exhibited the opposite trend. Hardwoodstocks increased over both periods, as did unfilledorders. Lumber exports declined from both periods,in spite of increases in southern pine, while pricesshowed a rising tendency.

The following tables present data on lumber and itsproducts recently made available:

HARDWOOD LUMBER 1

i Compiled from reports to the Hardwood Manufacturers' Institute by mills repre-senting from 100 to 125 units each week, the monthly data being obtained by apply-ing the percentages to normal production for every four or five weeks' period to an.average normal output of these mills of about 100,000,000 feet per month.

SOUTHERN CYPRESS l

PLYWOOD 1

MONTH, 1925

April ._MayJune . .JulyAugustSeptemberOctoberNovember.

Bookings Shipments Unfilled orders

Square feet of surface

3, 610, 6133, 678, 1583, 855, 3904, 456, 6895, 014, 0104, 571, 3845, 512, 0614, 932, 772

4, 685, 5243, 980, 0924, 420, 2184, 123, 9874, 179, 2254, 973, 5454, 832, 6215, 214, 486

4, 164, 7824,255,8874, 440, 4005, 002, 5996, 416, 7776, 627, 9117,518,3417, 657, 063

MONTH, 1925

August.. _. ... .. _,SeptemberOctoberNovember

Bookings \ Production1

Square feet of surface

5,808,8427, 471, 4737, 496, 2595, 199, 519

8,360,5916,696,078

MONTH, 1925

JulyAugustSeptember!.OctoberNovemberX)6cei"nbfli*

Produc-tion

Ship-ments Orders

Millions of feet, board measure

747278736568

738683939692

83919698

10790

MONTH, 1925

JulyAugustSeptemberOctober _. .November ._ _ _

Production Shipments New orders

Unfilledorders

(nearestWednesdayto end ofmonth)

Feet, board measure

26, 572, 04627, 389, 58327, 162, 51325,100,543

30, 097, 12627,409,81927, 573, 99527, 105, 875

28,402,59129, 466, 08331, 022, 30735, 575, 209

24,782,80125, 920, 00025, 596, 37730, 978, 50137,800,029

i Computed from weekly reports of the Southern Cypress Manufacturers' Asso-ciation, covering from 12 to 18 companies each week and prorated to a normal weeklycapacity of 6,258,283 feet, the overlapping weeks in each month being also proratedto obtain a monthly figure.

1 Compiled by the Plywood Manufacturers' Association from reports of 20 members(only 18 members in April), of which 2 or 3 report on shipments only. These datarepresent the business of building up veneers into plywood of from 3 to 8 thicknesses.Details as to kinds of wood and nature of cores are shown in the association's report.

PACIFIC COAST PLYWOOD l

1 Compiled by the Pacific Coast Plywood Association from reports of 6 mills.

Flooring production and shipments declined fromOctober but exceeded November, 1924, stocks on handincreasing over both periods. New orders and un-filled orders increased over October in oak flooring butdeclined in maple flooring, while all declined from ayear ago except unfilled orders of oak flooring.

Activity in the piano bench and stool industrydeclined from October but was larger than a year agoexcept in value of shipments.

Bookings of architectural terra cotta increased overOctober and were 34 per cent higher in tonnage than ayear ago.

Paving brick production and shipments declined,both from October and from November, 1924, stocksincreased over both periods, while new orders andunfilled orders declined from October but increasedover a year ago.

Cement production and shipments showed the usualseasonal decline from October and stocks an increase:compared with a year ago, production was larger, ship-ments smaller and stocks 62 per cent higher. Pricesin the Chicago district showed a declining tendency.

Concrete paving contracts awarded in Novemberdeclined from October in a seasonal movement butwere 16 per cent higher than a year ago, although forcountry roads less construction was let than inNovember, 1924.

Enameled sanitary ware orders and shipments madethe usual seasonal declines from October, while stocksincreased, except for sinks. Unfilled orders for bathswere reduced slightly during November, while forsmall ware an increase occurred. Except for declinesin miscellaneous ware, increases of 15 per cent or moretook place over November, 1924, in shipments, neworders and unfilled orders of enameled sanitary ware,while stocks on hand showed little change except forincreases of 22 per cent in baths and 29 per cent inlavatories.

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PRODUCTION, SHIPMENTS, AND STOCKS OF CEMENT

TNovember, 1925, is latest month plotted]

Data on vitreous china plumbing fixtures as com-piled from 35 manufacturers are presented below:

VITREOUS CHINA PLUMBING FIXTURES

[Number of pieces, A grade or regular selection]

MONTH, 1925

July .August.. _ . _. _SeptemberOctober _November

Ordersreceived

199, 909207, 977191, 831221, 906298, 108

Shipments

266, 987277, 822243 515246, 596196, 590

Unfilledorders

514, 062444, 217392 533367, 843469 361

Stocks onhand

303 271308, 105323 023367 843422 373

CHEMICALS AND OILS

Imports of potash and of nitrate of soda were largerthan in October, but potash imports were less than ayear ago. Exports of sulphuric acid and coal-tardyes were slightly larger than in October, but fer-tilizers and vegetable dyes were less. Comparedwith a year ago, both classes of dyes had much largerexports, but sulphuric acid and fertilizer shipmentswere smaller. Data on acid phosphate are shown inthe following table:

ACID PHOSPHATE 1

United States:Production ._Stocks, end of month .Consumption 2.

Northern States: 3

ProductionStocks, end of monthConsumption ._ .

Southern States: 2ProductionStocks, end of monthConsumption 2

August,1925

Septem-ber, 1925

October,1925

Novem-ber, 1925

Novem-ber, 1924

Reduced to tons of 16 per cent available phosphoricacid, which is equivalent to 320 pounds per ton

285,0031, 471, 305

122, 710

105, 836604, 24492, 724

179, 167867, 06129, 986

301, 3471, 476, 664

335, 804

92,643424, 753280, 747

208, 7041, 051, 911

55, 057

373, 1771, 695, 542

185, 906

139, 765504, 24566, 948

233, 4121, 191, 297

118, 958

348,0331, 785, 106

227, 176

131, 374554, 69262, 002

216, 6591, 230, 414

165, 174

291, 3781, 619, 464

118, 204

116, 666527, 51975, 327

174, 7121, 091, 945

42, 877

1 Compiled by the National Fertilizer Association from reports of acidulators repre-senting about 80 per cent of the industry; figures in greater detail are obtainablefrom the association.

2 Figures computed by adding production to stocks at the beginning of monthand subtracting from this sum the stocks at the end of the month, hence indicatingdisappearance or shipments from plants, and not, actually, fertilizer used.

s The south line of Virginia projected westward marks the division between theNorthern and Southern States for the purposes of this report.

IMPORTS OP POTASH AND NITRATE OF SODA

[November, 1925, is latest month plotted]

180

Except for a rise of 13 per cent in the index foressential oils, prices of oils and chemicals were generallylower or stationary as compared with October, buteither stationary or higher as compared with a yearago, except for crude drugs.

Wood chemical operations were on about the samescale as in October, while the price of acetate of limerose and stocks declined. November operations werehigher than a year ago, exports of acetate being 30per cent larger, but methanol exports were 75 per centsmaller. Stocks of wood at chemical plants were 18per cent lower than a year ago. Production andstocks of refined methanol declined from October.

Receipts and stocks of both turpentine and rosinat southern ports declined from November, 1924, theNovember receipts being also less than in October.

COTTONSEED OIL, PRODUCTION AND STOCKS

[November, 1925, is latest month plotted]

Both imports and exports of vegetable oils increasedover October, while imports alone increased over

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November. 1924. Oleomargarine consumption wasslightly less than in October but 46 per cent greaterthan a year ago. Cottonseed oil production increasedslightly over October and was also larger than a yearago, stocks of both cottonseed and oil on hand No-vember 30 being greater than a year previous. Flax-seed receipts and shipments in the Northwest wereconsiderably smaller than in November, 1924, whilestocks were higher. Linseed oil shipments fromMinneapolis declined from a year ago while oil-cakeshipments increased.

CEREALS

The December estimate of the wheat crop of 1925showed a reduction of almost 200,000,000 bushels fromthe previous year's outturn, due to the smaller winterwheat crop. Receipts and shipments of wheat con-tinued to run far behind the 1924 figures in Novemberand the visible supply in the United States was 53per cent less than a year ago, though the Canadiansupply was 35 per cent greater. Exports of wheat inNovember were 83 per cent less than a year ago inthe United States but 29 per cent greater in Canada.Wheat prices advanced over the October averages andwere higher than a year ago. Flour prices also in-creased over both periods.

The December estimate of the 1925 corn cropshowed an increase of almost 600,000,000 bushels overthe small 1924 crop. The visible supply on November30 was 62 per cent less than a year ago, but receipts,shipments, exports and grindings were all larger thana year ago. Although the price of corn averagedslightly less than in October, it was 25 per cent belowthe November, 1924, average.

The oats crop of 1925 was estimated at slightly lessthan the 1924 crop. Receipts and visible supply ofoats in November were less than a year ago, exportswere 79 per cent greater, and the price 23 per cent less,though showing almost no change from October.

The barley crop was estimated in December as 22per cent larger than a year ago. Receipts, exports,and pi ice were all much less than in November, 1924.

WHEAT RECEIPTS, EXPORTS, AND VISIBLE SUPPLY[November, 1925, is latest month plotted]

1920 1921 1922

76014—26t 3

With a decline of 24 per cent in the rye crop from1924, November figures on receipts and exports showedlarge declines from a year previous, while the price ofrye was 35 per cent less. Total grain exports inNovember were 64 per cent below a year ago, with a20 per cent loss for the 11-month period.

I The rice crop of 1925 was estimated at slightlylarger than the 1924 crop. Receipts, shipments,stocks and exports were from 36 to 81 per cent lessthan in November, 1924, while imports were 59 percent larger.

Car-lot shipments of potatoes and citrus fruitswere much smaller in November than a year ago, butincreases occurred in shipments of apples and onionsand in receipts of hay. Cold storage holdings ofapples were 22 per cent larger than a year ago.

MEATS AND DAIRY PRODUCTS

The movement and slaughter of cattle and calvesin November declined both from the previous monthand a year ago, the decrease from October being theusual seasonal trend. Exports of beef were less thanat either period also, while storage holdings, thoughincreasing seasonally, were about half as large as on

J November 30, 1924. Cattle and beef prices averagedless than in October but higher than a year ago exceptfor carcass beef.

Hog movement and slaughter increased seasonallybut was less than a year ago except for stocker andfeeder shipments. Exports of pork products declinedfrom both previous periods while storage holdingswere 10 per cent less than a year ago. Lard outputdeclined 18 per cent from November, 1924, and storageholdings and exports also decreased from that period.Hog and pork prices were slightly lower than inOctober but higher than a year ago.

Sheep movement and slaughter also declined season-ally from October and was less than a year ago exceptfor slaughter, which increased 47 per cent. Storageholdings of lamb and mutton were about half thestocks on November 30, 1924. Prices of sheep in-creased both over October, 1925, and November, 1924.

Poultry receipts and storage holdings increasedseasonally over October but were both slightly lessthan in November, 1924. The fish catch also de-clined from October but was 8 per cent larger thana year ago. Storage holdings of fish on November15 were 6 per cent larger than a month previous but12 per cent less than a year ago.

Butter receipts and stocks underwent the usualseasonal decline, stocks being 26 per cent lower thana year ago but receipts and prices were higher.Cheese holdings and receipts also declined seasonallyfrom October but both were higher than a year ago,as well as the price. The seasonal decline alsoaffected egg receipts and storage holdings, the formerdeclining slightly from a year ago while the latterincreased.

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RELATIVE RECEIPTS OF BUTTER, CHEESE, AND EGGS ATPRIMARY MARKETS

[1919 monthly averages=100. November, 1925, is latest month plotted]

20

SUGAR, COFFEE, AND TEA

The usual seasonal decline from October took placein sugar refining activity and in the movement of theCuban crop, but receipts of the domestic crop beganto come to market in large quantities in November.Sugar refining activities and the Cuban movementwere both considerably larger in November than ayear ago. Prices of sugar averaged higher than inOctober but were 30 per cent less than a year ago.

RAW SUGAR: IMPORTS, MELTINGS, AND REFINERY STOCKS

[November, 1925, is latest month plotted]

Coffee imports showed little change from eitherOctober, 1925 or November, 1924, but the visiblesupply in the United States increased 35 per cent overthe end of October but was less than a year ago. Teaimports declined 15 per cent from October but in-creased over November, 1924.

TOBACCO

The December tobacco crop estimate showed a gainof about 100,000,000 pounds over the 1924 crop.Sales from loose-leaf warehouses were larger in No-vember than in October and 68 per cent larger than ayear ago. Tobacco manufacturing activities, asshown by consumption figures, were less than inOctober but about the same as a year ago except fora gain of 22 per cent for cigarettes. Exports of un-manufactured leaf tobacco were smaller than inOctober but larger than a year ago, while cigaretteexports exhibited the opposite tendency.

RELATIVE CONSUMPTION OF CIGARETTES AND CIGARS

[1913 monthly average=100. November, 1925, is latest month plotted]

SHIPPING

Panama Canal traffic showed little change fromNovember and was 3 per cent larger than a yearago. Sault Ste, Marie Canal traffic was larger thana year ago, both in November and for that portionof December during which the canals were open, thetotal traffic for the year 1925 showing an increase of12 per cent over 1924. River traffic on both theMississippi and Ohio Rivers was less than in October;Mississippi cargoes being 19 per cent larger than inNovember, 1924, and Ohio River cargoes 24 per centless. Vessel clearances in foreign trade showed adecline from October, with little change from a yearago except for the larger proportion of foreign ton-nage. Vessel construction in November was con-siderably less than in either the previous month orNovember, 1924.

RAILROADS

The surplus of idle freight cars increased duringNovember but was less than a year ago; freight-carshortages were still further reduced and, owing tothe increase in coal-car shortages, were about thesame as a year ago. The decrease in car loadingsfrom October was seasonal. Compared with a yearago, loadings were 5 per cent larger, declines occur-ring only in grain, livestock, and forest products, whileore loadings increased 83 per cent. The bad-ordercars at the end of November increased slightly, butwere 12 per cent less than a year ago.

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LOCOMOTIVE SHIPMENTS AND UNFILLED ORDERS[November, 1925, is latest month plotted]

Shipments of locomotives by manufacturers in-creased 24 per cent over October but declined fromNovember, 1924. Unfilled orders of locomotive manu-facturers increased over both periods, but fewerlocomotives were under construction in railroad shops,especially as compared with a year ago. Freight andpassenger car orders by railroads were less than a yearago, though freight-car orders were more than twiceas large as in October.

SHORTAGE, SURPLUS, AND BAD-ORDER FREIGHT CARS

[November, 1925, is latest month plotted]

DISTRIBUTION MOVEMENT

November sales of mail-order houses were seasonallysmaller than in October but registered an increase of 13per cent over the same month of 1924. The totalvolume of sales for the first 11 months was 15 per centgreater than during the same period of the previousyear. Sales by 10-cent store chains were likewiseseasonally smaller, November business registering anincrease of 11 per cent over the corresponding monthof 1924. For the 11 months ending November 30,10-cent chain store sales were 13 per cent greaterthan during the same period of 1924.

National advertising appearing in metropolitannewspapers was smaller in November than in theprevious month, while the general newspaper adver-

tising in representatives cities, though 14 per centlarger than in November, 1924, registered a declineof 2 per cent from October. For the first 11 months of1925 newspaper advertising was almost 5 per centgreater than during the same period of the precedingyear. Magazine advertising showed increases overthe previous month and the same month of 1924 withan increase of 3 per cent in the cumulative totals.Postal receipts in the 100 largest cities were smallerthan in October but 13 per cent greater than inNovember of last year, with an increase of 9 per centfor the 11 months through November over the corre-sponding period of 1924.

SALES BY MAIL-ORDER HOUSES AND 10-CENT CHAIN STORES

[November, 1925, is latest month plotted]

70

LIFE INSURANCE

New sales of life insurance were smaller than inOctober but 25 per cent greater than in November,1924, all types showing declines from the previousmonth except group insurance. Increases in thevalue of new insurance written in November as com-pared with the same month last year amounted to 14per cent for ordinary, 38 per cent for industrial, and188 per cent for group insurance. For the first11 months of 1925 the value of new estates created,carried to maturity, was 20 per cent greater than

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during the same period of the preceding year, thegreatest increase occurring in the group form ofinsurance, which registered a 66 per cent advance over1924. As compared with an increase of 20 per centin the value of new insurance written during the 11months, there was registered an advance of only 15per cent in the number of policies and contracts forthe same period, indicating larger values per policy.Premium collections of representative life insurancecompanies were 1 per cent and 26 per cent larger,respectively, than in the previous month and a yearago, while for the calendar year thus far an increase of15 per cent in premium collections was registered overthe same period of 1924. Admitted assets of thesecompanies were 1 per cent and 11 per cent greater,respectively, at the end of November than at the endof the previous month and a year ago.

Sales of ordinary life insurance by geographicaldistribution showed declines in all districts from thepreceding month ranging from 1 per cent for the farwest to 8 per cent for the western manufacturingdistrict, while as compared with a year ago, all dis-tricts showed increases ranging from 12 per cent forthe western agricultural section to 24 per cent forthe southern district. For the first 11 months of theyear 1925 the greatest percentage increase over thesame period last year was registered in the westernagricultural section, with the eastern manufacturingdistrict and southern sections next in order.

BANKING

Check payments both in and out of New YorkCity were smaller than in October and larger than ayear ago. For the first 11 months of 1925 the dollarvolume of check transactions in New York City was20 per cent greater than in the same period of the pre-ceding year, while for the country outside an increaseof 13 per cent was registered.

Bills discounted by Federal reserve banks werelarger at the end of November than at either the endof the previous month or November, 1924, while notesin circulation, though larger than at the end of Octo-ber, were smaller than in November and the samemonth of last year. Investments of Federal reservebanks continued to mount during November, but atthe end of that month were 19 per cent smaller thana year previous. The deposits in Federal reservebanks as well as the Federal reserve ratio declined inNovember from the preceding month, with the ratio 8per cent below a year ago.

Loans and discounts of Federal reserve memberbanks continued to mount, standing at the end of No-vember at almost 9 per cent above a year ago. In-vestments, on the other hand, were smaller in No-vember than for either the previous month or a yearago, with net demand deposits showing similar com-

parisons. Interest rates on speculative funds in theNew York market were slightly lower than in Octo-ber, but almost twice as high as in November,1924. Rates on commercial paper averaged lower inNovember than in the previous month and were only35 per cent greater than in November of the previousyear. Savings deposits continued to mount, standingat the end of November at 6 per cent above a yearago.

BILLS DISCOUNTED AND TOTAL INVESTMENTS OF FEDERALRESERVE BANKS

[November, 1925, is latest month plotted]

3,000r

Prices of stocks on the New York Stock Exchangeshowed a slight decline for industrials from the monthof October and an increase of 3 per cent from thesame month in average prices for railroad stocks. Ascompared with November, 1924, average prices forindustrials were 41 per cent higher and for railroads16 per cent higher. The volume of turnover on theNew York Stock Exchange was 71 per cent greaterduring the first 11 months than during the sameperiod of the preceding year.

Bond prices were higher on the average than ineither the preceding month or a year ago, the largestincrease over these two periods occurring in the aver-age prices for second grade railroad bonds. Highestgrade rails showed relatively little change in pricefrom October and a year ago.

Dividend and interest payments scheduled for dis-bursement during December were 4 per cent and 7 percent larger, respectively, than for November and ayear ago. For the calendar year, payments to in-vestors were on the whole 6 per cent greater thanduring 1924 with the total payments of dividends 5per cent greater, this ratio being applied to indus-trial corporations and steam railroads while a gain of12 per cent was made in dividends of street railways,

PUBLIC FINANCE

The gross debt of the national government con-tinued to decline and at the end of November was 4per cent less than a year ago. Customs receipts inNovember were 9 per cent smaller than in Octoberbut 21 per cent greater than in November, 1924.

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For the first 11 months of 1925 customs revenueswere 4 per cent larger than in the same period of thepreceding year. Money in circulation, althoughgreater than in October, was smaller in amount thana year ago.

Agricultural loans outstanding increased duringNovember and at the end of that month were con-siderably higher than a year ago for all agencies en-gaged in this function except the War Finance Cor-poration.

CORPORATE FINANCE

The capitalization of new incorporations in Novem-ber was more than twice as large as in October or inNovember, 1924, while, for the calendar year thus far,the aggregate new capital for new enterprises was 40per cent larger than during the same period of 1924.New corporate securities issued in November althoughsmaller than in October, were 27 per cent aboveNovember of the preceding year, while for the first11 months of 1925, new issues were 12 per cent largerthan during the same period of 1924.

NUMBER OF BUSINESS FAILURES AND DEFAULTED LIABILITIES

[November, 1925, is latest month plotted]

1920 1921 1922 1923 1924 1926

Business failures were larger in November, both inpoint of liabilities and in number than either the pre-ceding month or November, 1924. For the first 11months, business failures were 18 per cent smaller indefaulted liabilities, but 4 per cent greater in number,respectively, than during the same period of the pre-

COMPARISON OF WHOLESALE PRICES AND STOCK PRICES

[Twelve-month moving averages. November, 1925, is latest month plotted]

300 ISO 16 0

9250

o£240j1

J230 0115 0125 -U.S.DEPT.WHOLESALE

02|0QI05

"PRICE, 25 INDUSTRIAL STOCKS

7 \

OF |LABOR—;

"RICEINDEXX

PRICE/25 RAILROAD STOCKS

\

n i i n i1916 I 1917 1918

* i S I 5 § S I I i § 5« i o 5 « ^ o - » < - » o - >. - . 8 5 I ? $ 1 I I § < I I §1919 I 1920 I 1921 I 1922 I 1923 ! 1924 I 1925 I

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ceding year. A decline in liabilities from 1924,amounting to 43 per cent in the failures of manufac-turing establishments, more than offset increases of11 per cent and 14 per cent, respectively, in the lia-bilities of failing mercantile establishments andagents and brokers. As in the case of liabilities,manufacturing establishments failing were smallerin number than during the 11-month period of 1924,the decline of 3 per cent being insufficient, however,to offset an increase of 8 per cent in the number offailures among merchants.

GOLD AND SILVER

Receipts of gold at the mint were smaller in Novem-ber than in either the previous month or a year ago,but for the calendar year thus far registered a declineof 3 per cent from the same period of 1924. The Randoutput of gold was also smaller than in either theprevious month or in November, 1924, but for thefirst 11 months of 1925 totaled slightly higher thanduring the same period of 1924. Gold imports weresmaller than in either October or November, 1924,while exports of gold, although smaller than in October,were more than three times as large as in November,1924, but the total shipments of gold abroad during thefirst 11 months were considerably in excess of the cor-responding movement in 1924. As against an excessof $287,000,000 in the imports of gold for the first 11months of 1924, an export excess of $136,000,000 wasnoted in the gold movement during the same periodof 1925.

Silver production, although 15 per cent smaller thanin November, 1924, was 3 per cent greater than inOctober. For the first 11 months, silver output was 2per cent smaller than in the corresponding period of1924. Imports and exports of silver were each smallerthan their corresponding movement of the previous

month and November, 1924. The price of silver atNew York continued to average lower.

GOLD: SHOWING EXCESS OF IMPORTS AND EXPORTS

[November, 1925, is latest month plotted]

FOREIGN EXCHANGE AND TRADE

Exchange on England, Japan, Argentina, and Chileaveraged higher in November than in the precedingmonth, while as compared with November, 1924, rateson these countries were 5 per cent, 10 per cent, 10 percent, and 8 per cent higher, respectively. Other prin-cipal currencies showed no change from the prevailingrates in October with the exception of the French francand the Brazilian milreis, which declined 9 per cent and1 per cent, respectively, from the preceding month.These two currencies were likewise lower than inNovember, 1924, the French franc making a decline of25 per cent and the milreis a decrease of 6 per cent.

Imports of merchandise in the United States were 1per cent and 2.7 per cent greater, respectively, than inOctober and a year ago, while exports were 9 per centsmaller in November than in either of these compara-tive periods.

FACE BRICK[In thousands of brick]

MONTH

JanuaryFebruaryMarchApril

MayJuneJulyAugust

September .October. _NovemberDecember

Monthly average

PRODUCTION

1922

291265481557

677738639633

671805687645

591 ~

1923

617464655710

801762735833

713755656595

691

1924

454470574680

805747775743

692745664639

666

1925

548508670777

833817837812

723823683640

723

SHIPMENTS

1922

171214426563

697701617631

566578531438

511

1923

410^381614748

802716636762

638731545377

616

1924

326384609777

837710697714

722692555366

616

1925

283436732902

890875822733

681651504409

660

STOCKS, END OF MONTH

1922

1,7731,7641,8061,717

1,5001,466, 336,234

,306,434,503,694

1,544

1923

1,8451,9161,9251,871

1,7761,858,939,882

,348,409,451,662

1,740

1924

1,7161,7531,6571,678

1,4731,4481,5101,503

1,4571,4751,4331,803

1,576

1925

1,8012,0682,0341, 769

" 1, 6881,5891,5031,477

1,5221,6931,7131,978

1,736

UNFILLED ORDERS, END OFMONTH

1922

365517682829

1,0821,1091,1061,025

1,050923834783

859

1923

1,0641, 3111,5631,686

1,5611,3911,2811,319

1,0641,039

899755

1,244

1924

8881,0401,1451,264

1,1941,109

949936

808781716644

956

1925

728•949

1,0911,140

1,2001,1531,007

892

929903835770

966

1 Data compiled by American Face Brick Association, representing averages per plant in order to allow for the variation in number of firms reporting. About 70 firmsusually report.

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BOOK PAPER

MONTH

January..FebruaryMarch . .April

MayJune. .JulyAugust

SeptemberOctoberNovemberDecember

COATED

Pro-duc-tion

Ship-ments Orders

Per cent of normalproduction

Un-filled

orders,end ofmonth

Days

UNCOATED

Pro-duc-tion

Ship-ments Orders

Per cent of normalproduction

Un-filled

orders,end ofmonth

Days

1924

79939998

98978286

91989885

859698

100

94888589

89949184

8294

10385

88748188

87838882

13121512

1299

10

10777

87939495

99958796

9210110596

90989596

96949093

1 9510110293

120969994

89838894

96969794

14151717

16131213

13121212

COATED

Pro-duc-tion

Ship-ments Orders

Per cent of normalproduction

Un-filled

orders,end ofmonth

Days

UNCOATED

Pro-duc-tion

Ship-ments Orders

Per cent of normalproduction

Un-filled

orders,end ofmonth

Days

1935

95101100100

95887670

72778078

9496

10199

93867773

77808278

9110010291

79747375

67777579

10111311

8887

7768

102106107102

95908791

909494

9810610399

89878088

879393

1081089892

83838190

889489

15151512

11111011

121111

1 Compiled from weekly reports of the American Paper and Pulp Association from about 28 mills on coated paper and 10 mills on uncoated paper.

FUEL CONSUMPTION BY RAILROADS1

MONTH

January _FebruaryMarch _April

MayJune. _ __JulyAugust

SeptemberOctoberNovemberDecember . -

Monthly average

1920 1921 1922 1923 1924 1925

COAL CONSUMED(Thousands of tons)

10, 3049,468

10, 1348,186

8,9248,6468,9709,526

9,1099,883

10, 00210, 265

9,451

9,2477,6457,7197,057

7,1586,7936,8957,272

7,4078,6808,1217,732

7,644

8,1217,8478,5036,890

6,9676, 7956,6137,279

7,8559,2809,765

10, 162

8,006

10, 3759,470

10, 3529,382

9,0448,3098,3198,550

8,5269,4159,0868,647

9,123

9,4369,0429, 0487,672

7,6066,9187,1137,341

7, 8538,5748,3608,944

8,159

9,2108,0118,1197,350

7,5757,1427, 3927,841

7,8318,992

1921 1922 1923 1924 1925

FUEL OIL CONSUMED(Thousands of gallons)

134, 095113, 908117, 238111,799

110, 867108, 901114,911114,819

116, 401133, 312124, 056126, 668

118, 915

126, 796107, 730123, 779116, 622

118, 572119, 598120, 829127, 178

138, 232154, 749155, 460156, 545

13C, 508

150, 297135, 518155,939148, 006

155, 043151, 70§160, 287169, 216

175,944198, 797194, 378184, 734

164, 989

188, 825167,951179, 274165, 198

162, 044152, 366160, 118168, 284

181, 983194, 659191, 671.192, 764

175, 428

185,666158, 451169, 224159, 209

159, 828157,061164, 215169, 010

182, 269205, 153

i Complied by the Interstate Commerce Commission from reports of 174 steam railroads of Class I, not including switching and terminal companies. Fuel used inswitching locomotives is not included in these reports. It is stated that about 3 per cent would be added to the coal consumption figures were these data included.A'oout 2 per cent of the coal consumed on railroads in 1923 was anthracite.

MISCELLANEOUS DATA

MONTH

JanuaryFebruary. . . __ _ , _MarchApril _ _ _ _ ...

MayJune. -JulyAugust ... ... . .

SeptemberOctoberNovemberDecember _ . _ .

FUE SALES i

1924 1925

FUR PURCHASES 1

1924 1925

Thousands of dollars

1,408991

1,4221,337

1,5602, 2573,9803,900

4,4353,5813,7832,903

1,298913

1,8781,666

2,3253,2265,4224,758

3,2535,6334,641

1,3905,3602,0631,274

1,3021,3541,2302,159

2,0151,3981,291

659

1,4905,7422,3441,934

2,0662,0152,2122, 108

1,6151,6891,760

POLISHED PLATE GLASSPRODUCTION 2

1923 1924 1925

Thousands of square feet

7,0776,2817,7187,188

8,0717,6277,0167,908

7,3107,8017,7157,357

7,6037,4248,2808,361

8,2037,3136,9206,650

6,9488,1547,8217,878

8,6748,5689,7749,848

9,8129,8859,928

10,328

10, 29710, 7149,889

SALES OF AUTOMOBILEACCESSORIES AND PARTS »

Origi-nal

equip-ment

Re-place-mentparts

Acces-sories

Serviceequip-ment

1925

Relative numbers—Jan., 1925=100

100101138183

174164165161

179214149

1008695

107

134129152130

100131133

100121159193

173172149149

155163158

100122162149

146159113113

12310096

1 Purchases of fur and sales of fur garments by 100 representative fur manufacturers in New York City, as compiled by Seidman <k Seidmant certified public accountants.* Production of polished plate glass compiled by Plate Glass Manufacturers of America, comprising practically the entire industry.3 Sales of automobile accessories and parts shipped to customers by 75 members of the Motor and Accessory Manufacturers' Association, the relative numbers being based

on value, with January, 1925, as 100,

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EMPLOYMENT IN MANUFACTURING INDUSTRIES BY MAJOR GROUPS

I Drawn from data compiled by U. S. Department of Labor, and representing weighted indexes based upon number of wage earners in the respective industries in 1919,Average monthly employment 1923=100. November, 1925, is latest month plotted]

. VEHICLES FOR LAND TRANSPORTATION

AMPED AND ENAMELED WARE OTHER THAN IRONAND STEEL

100

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INDEXES OF BUSINESS

The index numbers presented in this table are designed to show the trend in production, prices, trade,etc., in various groups of industry and commerce. They consist in general of weighted combinations of seriesof individual relative numbers; often the individual relative numbers making up the series are also given. Thefunction of index and relative numbers is explained on the inside front cover. A condensed form of this tableis given on page 6.

PRODUCTION(Relative to 1919 monthly average as 100)

RAW MATERIALS

Grand total. ... -

MINERALS

Total .Petroleum... ....__.....:... .......Bituminous coal -------Anthracite coalIron ore *CopperLead.ZincGoldSilver

ANIMAL PRODUCTS (marketings)

TotalWool*Cattle and calvesHogsSheepEggs*Poultry *FishMilk (New York)

CROPS (marketings)

TotalGrains *Vegetables * . .Fruits*Cotton products * ,Miscellaneous crops * _

FOREST PRODUCTS

TotalLumber . . . .Pulpwood ...Gum (rosin and turpentine) *Distilled wood

MANUFACTURING

Grand total (adjusted for working days).-Grand total (unadjusted) .

FoodstuffsTextilesIron and steelLumber .Leather . -Paper and printingChemicals, oils, etcStone and clay productsMetals, excepting iron and steelTobaccoMiscellaneous. .

Maxi-mumsince

Jan. 1,1920

179

146216137121241148188136131145

138227143177153245390163190

246242254405310170

135137164267149

133137129130147166115121191164195132148

Mini-mumsince

Jan. 1,1920

71

621054100

1774385780

801958645430214594

494358501919

6159512024

71647754325763699269717037

1994

Sep-tember

152

12818910910478

12616699

109117

11083

12586

13473

100115134

19323116126017588

11911896

21588

1141141129295

13587

102148134164118120

October

179

13519012510571

137168112129119

11262

13310714662

138117136

246242228357278120

12312112116998

11612111211110514496

113165143163123121

Novem-ber

156

1201791089226

135165112108119

12569

1151318339

31381

128

195166141184271120

11411111517996

11411010010110613181

102166128152106100

1925

Sep-tember

150

125205121

194

13415712580

103

10542

10573

1167895

162141

191156199332234110

12913272

216104

12212210697

11815889

106174148183123118

October

157

132204137

189

14018812413098

11533

13691

14160

139122138

196106234274310114

135137103178104

13213711210813016696

118188164193132148

Novem-ber

145

124196131

254

134177134104101

11941

1111037636

31487

133

174110121175277138

120120112131107

12912497

10513115277

114181140160116130

PER CENT INCREASE (+)OB DECBKASE (-)

November,1925, from

October, 1925

-7.6

6.1-3.9

4 4+ 100.0-39.3

- -4.3-5.9+ 8. 120.0

+ 3.1

+ 3.5+24.2

18.4+ 13.2

A(\ 1

40.0+ 125.9-28. 7--3.6

-11.2+ 3. 848.3

-33.7— 10. 6+ 21. 1

11. 1-12. 4+ 8. 7

-26.4+ 2.9

-2.39. 5

13. 42. 8

+ 0.88. 4

19. 83 43 7

14. 6-17. 1

12 112 2

November,1925, from

November, 1924

7 1

+3.3+9. 5

+ 21.3O7 9

+ 107.70.7

+ 7.3+ 19.6-3.7

-15. 1

4.840.6-3.521.4

8 4.-7.7+ 0.3+ 7.4+ 3.9

10.833.7

-14.24.9

+ 2. 2+ 15.0

+5.3+ 8. 1

2.6-26.8+ 11.5

+ 13.2+ 12.7+ 3.0+4.0

+ 23.6+ 16.0

4. 9+ 11.8+ 9.0+ 9.4+ 5.3+ 9.4

+ 30. 0

* Fluctuations between maximum and minimum due largely to seasonal conditions.

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INDEXES OF BUSINESS—Continued

STOCKS(Relative to 1919 monthly average as 100)

(Corrected for seasonal variation)Total .. --

Raw foodstuffsRaw materials for manufactureManufactured foodstuffs. .Manufactured commodities

(Unadjusted index)Total -..-

Raw foodstuffs -Raw materials for manufactureManufactured foodstuffs .Manufactured commodities

UNFILLED ORDERS(Relative to 1920 monthly average as 100)(Iron, Steel, and Building Materials)

Total (8 commodities)Iron and steelBuilding materials

WHOLESALE TRADE(Relative to 1919 monthly average as 100)

(Distributed by Federal Reserve Districts)

Grand total all classesHardware (10 districts) .Shoes (8 districts) ...Groceries (11 districts)Drugs (7 districts)Dry goods (8 districts)Meats « - .

RETAIL TRADE

(Relative to 1919 monthly average as 100)

MAIL-ORDER HOUSES (4 houses)CHAIN STORES:

Ten-cent (5 chains) _ _ _Music (4 chains)Grocery (27 chains) . _Drug (9 chains) -Cigar (3 chains)Candy (5 chains).Shoe (6 chains)—.

DEPARTMENT STORES:Sales (359 stores)Stocks (314 stores)

EMPLOYMENT(Relative to 1923 monthly average as 100)

Number employed, by industries:Total, all classes ,

Food productsTextilesIron and steel . . .. „Lumber -LeatherPaper and printingChemicalsStone, clay, and glassNonferrous metals 2

Tobacco products !.„VehiclesMiscellaneous

Maxi-mumsince

Jan. 1,1920

153233189115183

162236202115177

116112153

120129136135133150*89

170

366214318187193282186

210154

Mini-mumsince

Jan. 1,1920

9173895886

8470685688

403225

60594362885846

I

49

8455

11910910610972

80100

1924

Sep-tember

13414511890

165

127119116100157

463497

931066993

11711671

106

169110210145137189124

119137

879784809391

100889589958482

Octo-ber

13514813086

160

14314516893

157

433481

9511067

10012810478

141

.203124240159144199138

141147

889786819492

101899589888584

Novem-ber

13515213484

155

14415418083

158

534299

84985789

1098869

131

199111232145138186145

141148

889586829391

101899590978485

1935

Sep-tember

14916016179

181

14013315987

171

5338

109

941097292

12011282

114

191136243169142202 •129

122143

919287869495

10097

10096929290

Octo-ber

13311315173

176

14212020177

172

534394

1011227799

13311887

170

237141318179151215164

165149

939590879495

10298

10198959589

Novem-ber

13312815072

170

145134202

72172

5847

101

871035990

1109178

144

220140268167136195136

145154

939490899392

10398

100100959491

PER CENT INCREASE (-f )OR DECREASE (-)

November,1925, from

October, 1925

+ 0.8+ 13.3-0.7— 1. 4-3.4

+3.1+ 11.7+ 0.5-6.5

0.0

+ 9.4+ 9.3+ 7.4

-13.915 623 4

-9. 117 322 9

-10. 3

-15.3

-7. 2-0.7

-15.7-6.7-9.9-9.3

-17. 1

-12. 1+ 3.4

+ 1.1-1. 1

0.0+2.3

1 i3 2

+ 1.00.0

-1.0+ 2.0

0.0-1. 1+ 2.2

November,1925, fromNovember,

1924

1 5-15. 8+ 11.9-14.3+ 9.7

+ 0. 7-13. 0+ 12.2-13.3+8.9

+ 9.4+ 11.9+ 2.0

+ 3. 6+ 5.1+ 3.5+ 1.1+ 0.9+ 3.4

+ 13.0

+ 9. 9

+ 10.6+ 26. 1+ 15.5+ 15.2-1. 4+ 4.8

6 2

+ 2. 8+ 4.1

+ 5.7-1. 1+ 4.7+ 8.5

0.0+ 1.1+ 2.0

+ 10. 1+ 5.3

+ 11. 1-2. 1

+ 11.9+ 7.1

1 Since Jan. 1. 1921.2 Includes stamped and enameled ware and brass, bronze, and copper products, shown for the first time.

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27

INDEXES OF BUSINESS—Continued

EMPLOYMENT— Continued(Relative to 1023 monthly average as 100)

Amount of pay roll, by industries:Total, all classes- _

Food productsTextiles--.Iron and steelLumber - _Leather -Paper and printingChemicalsStone, clay, and glassNonferrous metals1

Tobacco productsVehiclesMiscellaneous---. - _ _ -

PRICE INDEX NUMBERSFARM PRICES

(Relative to 1009-1014 average as 100)All groups .

Grain . .Fruits and vegetablesMeat animals .Dairy and poultry .Cotton and cotton seedUnclassified

WHOLESALE PRICESDepartment of Labor Indexet

(Relative to 1013)All commodities

Farm productsFood, etcCloths and clothingFuel and lightingMetals and metal productsBuilding materials _ChemicalsHouse-furnishing goodsMiscellaneous ......

Federal Reserve Board Regrouping of Departmentof Labor Indexes(Relative to 1013)

All commoditiesProducers' goods .Consumers' goods_.

Total raw productsAgricultural productsAnimal productsForest products .Mineral products

Commercial Indexes(Relative to 1013)

Dun's ( 1st of following month)Brads treat's (1st of following month) -

COST OF LIVINGNational Industrial Conference Board Indexes

(Relative to July, 1914)All items weighted .

Food (Dept. Labor)Shelter ...ClothingFuel and lightSundries

Maxi-mumsince

Jan. 1,1920

285283373186215304180

248243248346281203300213275208

247244249

249311218375272

218227

205219186288200192

Mini-mumsince

Jan. 1,1920

11088

10891

1227674

138114131171162109155121168111

198118146

135122103152165

134115

155139143153149171

1924

Sep-tember

8010084779691

101899884978285

132140113115133175100

149143148187168128171131171116

149130158

153164123180166

158141

104147185174166173

Octo-ber

899787819892

10390

10187888784

138150109121142182102

152149152188162127171132171120

152129161

156172130181165

160145

105149185177167173

1Novem-

ber

889783829685

103929990

1008487

137147108115150179106

153150154190163129172134172123

153131163

155176124182166

164147

105150184173168175

1935

Sep-tember

90938385

10091

10396

10393929191

14414814214314117890

100160160189170127174136168135

100131169

100169155184172

161154

108159178176168174

Octo-ber

90989092

10292

1081001099999

10093

14313515214115417190

158155158190172128174135168138

158133166

102162147185174

163155

170162178176170174

Novem-ber

90979093

10184

11010110910210110193

14413819413616214495

158154160188175130176135166142

158135168

160160139187176

164156

171167178176

175

PFR CENT INCREASE (+)OR DECREASE (•-)

November,1925, from

October, 1925

0.0-1.0

0.0+1.1-1.0-8.7+ 1.9+ 1 0

0.0' +3.0

+ 2 0+ 1.0

0.0

0.7+ 2. 2

+ 27.63 5

+ 5.215 8

+ 5.6

0.0-0.6+ 1.3-1. 1+ 1.7+ 1.6+ 1. 1

0.0-1.2+ 2.9

0.0+ 1.5+ 1.2

1. 21. 25. 4

+ 1.1+ 1. 1

+ 0.6+ 0.6

+ 0.0+ 3.1

0.00.0

+ 0.6

November,1925, fromNovember,

1924

+ 9.10. 0

+ 8. 4+ 13.4+ 5.2

1.2+ 6. 8+ 9.8

+ 10. 1+ 13.3+ 1.1

+ 20.2+ 6.9

+5.16 1

+ 79.6+ 18.3+ 8.019. 6

+ 10.4

+ 8. 3+ 2.7+ 3.8— 1. 1+ 7.4+ 0.8+ 2.3+ 0.7-3. 5

+ 15. 4

+ 3.3+ 3.1+ 3.1+ 3.2

9. 1+ 12. 1+ 2. 7+ 6.0

0.0+ 6.1

+ 3.0+ 11.3

3.3+ 1.7

0.0

'Includes stamped and enameled ware and brass, bronze and copper products shown for the first time.

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28

TREND OF BUSINESS MOVEMENTSThe following table contains a summary of the monthly figures, designed to show the trend in important

industrial and commercial movements. These data represent continuations of the figures presented in thelatest semiannual number (August, 1925), in which monthly figures for 1924 and 1925 may be found, togetherwith explanations as to the sources and exact extent of the figures quoted. The figures given below shouldalways be read in connection with those explanations. Data on stocks, unfilled orders, etc., are given as of theend of the month referred to. For explanations of relative numbers, including base periods, see introductionon inside front cover.

TREND OF BUSINESS MOVEMENTS

Where available December data havebeen included in this table. The cu-mulatives shown are in most instances,however, only through Novemberand, where designated by a footnote,through October. Earlier data foritems shown here may be found onpages 29 to 151 of the August, 1925,"Survey '*

TEXTILES

WoolReceipts at Boston:

Total thous. of lbs__Domestic thous. of lbs._Foreign _ _ thous. of lbs_.

Imports, unmanufactured thous. of IbsConsumption by textile mills,

grease equivalent thous. of Ibs. .Machinery activity, hourly:

Looms —Wide per ct. of hours active..Narrow ..per ct. of hours active..Carpet and rug.per ct. of hours active. .

Sets of cards per ct. of hours active. .Combs per ct. of hours active. .Spinning spindles-

Woolen per ct. of hours active..Worsted per ct. of hours active..

Prices:Raw, Ohio,

% blood, unwashed .dolls, per lb__Raw, territory fine,

scoured _ dolls, per lb_.Worsted yarn dolls, per lb_.Women's dress goods »—

French serge dolls, per yd__Men's suitings dolls, per yd..

Cotton

Production, crop estimate >» thous. of bales..Ginnings (cumulative) thous. of bales..Receipts into sight. . thous. of bales. _Imports, unmanufactured balesExports, unmanufactured

(including linters) .. bales. _Consumption by textile mills _ bales. .Stocks, end of month:

Total, mills and w'houses.. thous. of bales. _Mills __ thous. of bales..Warehouses thous. of bales..World visible —

Total thous. of bales..American thous. of bales..

Machinery activity of spindles:Active spindles thousands. _Total activity ... millions of hours..Activity per spindle hours.Per cent of capacity per cent..

Cotton finishing:Billings, finished goods (as

produced) thous. of ydsOrders received,

gray yardage thous. of yds _Shipments, finished goods. cases..Stocks, finished goods cases..Operating activity per ct. of capacity..

Manufactured goods:Cotton cloth exports thous. of sq. yds..Fabric consumption

by tire manufacturers thous. of Ibs..Elastic webbing sales thous of yds

Fine cotton goods, production pieces. _Prices:

Raw cotton to producer dolls, per lb__Raw cotton, New York dolls, per lb_.Cotton yarn—

22/1 cones, Boston.. dolls, per lb__40/ls, New Bedford « dolls, per lb._

Print cloth, 64 x 60 d dolls, per yd..Sheeting, crown dolls, per yd..Cotton goods (fairchild)... index number..

1995

Septem-ber

20,4037,453

12, 95018, 948

44,383

6961658579

8270

.50

1.281.650

.8003.600

13, 7407,1022,332

15, 121

752, 324483, 266

4,004866

3,138

' 3,8832,805

31, 5527,102

18883.8

72,257

81, 07942, 60840,711

58

42, 366

14,02512, 129

371, 500

,225.236

.423

.563

.095

.106187

October

17, 4065,885

11, 52123, 920

47, 327

7267648188

8280

.51

1.321.650

.8003.600

14, 75911, 1993, 149

12, 402

1, 421, 482543, 679

5,7161,2164,499

5,1944,115

32, 4257,962

21089.4

85,859

85,90747, 55639, 917

67

44, 887

12, 44613, 637

452, 552

.215

.220

.430

.562

.096

.108187

Novem-ber

16, 1267,3098,817

25, 170

43, 471

7468698390

8175

.54

1.321.600

.8003.600

15, 38613, 8582,942

27, 000

1, 206, 786543, 098

6,6621, 4565,206

6,0484,903

32, 8927,834

20796.0

78, 239

75, 45339, 67640, 511

61

43, 084

11, 34911, 658

385, 841

.181

.208

.407

.546

.089

.108i 182

Decem-ber

18, 7545,501

13, 253

.55

1.301.550

.8003.600

15, 60314, 826

7,0565,634

.174

.202

.402

.550

.087

.103178

1924

October

15, 62611, 0504,576

16,638

54, 854

7465729298

9179

.57

1.481. 750

.7753. 690

9,7162,807

18, 135

947, 506534, 283

4,960753

4,226

4,2673,358

31, 1651 7, 593

20186.2

86, 765

90,60144,33140, 664

67

53, 113

13, 20512, 345

385, 301

.231

.245

.449

.543

.087

.103193

Novem-ber

22.86012, 29910,56116, 501

48, 380

7772789296

9076

.61

1.601.850

.7753.690

12,2382,767

17, 549

1, 306, 550495, 182

5,8521,0494,803

5,1754,346

31, 8587,124

18887.8

75, 822

81, 68939, 05241, 516

58

46, 917

12, 19110, 625

399, 820

.225

.243

.446

.539

.090

.106194

Decem-ber

29,46016, 62912, 83131, 873

51, 008

7870769292

9278

.70

1.681.950

,7753.690

13, 62812, 7922,478

48, 663

1, 075, 923532, 047

5,9431,3194,624

5,8214,805

32, 6627,817

20690.4

91, 686

84,65246, 53142, 162

67

43, 698

12, 17210, 478

399, 228

.240

.238

.446

.552

.090

.108194

PER CENT IN-CREASE (+) ORDECREASE (— )

Novem-ber,1925,fromOcto-ber,1925

-7.4+24.2-23.5+5.2

-8.1

+2.8+1.5+7.8+2.5+2.3

-1.2-6.2

+5.9

0.0-3.0

0.00.0

+4.2+23.7-6.6

+117.7

-15.1-0.1

+16.6+19.7+15.7

+16.4+19.1

+1.4-1.6-1.4+7.4

-8.9

-12.2-16.6+1.5-9.0

-4.0

-8.8-14.5-14.7

—15.8-5.5

-5.3-2.8-7.3

0.0-2.7

Novem-ber,1925,from

Novem-ber,1924

-29.540.6

-16.5+52.5

-10.1

-3.9-5.6

-11.5-9.8-6.2

-10.0-1.3

-11.5

-17.5-13.5

+3.2-2.4

+20.1+13.2+6.3

+53.9

-7.6+9.7

+13.8+38.8+8.4

+16.9+12.8

+3.2+10.0+10.1+9.3

+3.2

-7.6+1.6-2.4+5.2

-8.2

-6.9+9.7-3.5

-19.6-14.4

-8.7+1.3-1.1+1.9-6.2

CUMULATIVE TOTALFROM JANUARY 1THROUGH NOVEM-BER 30

1924

282, 555183, 61198, 944

236, 310

486, 662

"

10,783272, 382

5, 718, 9984, 987, 873

840, 109

628, 610455, 819

434, 599

130, 245118, 293

3, 846, 989

1925

287, 258126, 715160,543316,075

481, 523

13, 346279, 062

7, 542, 8035, 846, 477

861, 535

840, 243479, 537

496, 334

156, 035148, 594

4, 604, 081

Percentin-

crease(-yor de-crease(-)1925from1924

+1.7-31.0+62.3+33.8

-1.1

+23.8+2.5

+31.9+17.2

+2.6

+33. 7+5.2

+14.2

+19.8+25.6+19.7

» See table on p. 22, of the November, 1925, issue for earlier data.* Total crop estimated in month indicated. Data for a year ago represents revised estimate of the 1924 crop.« See table on p. 10 of the December, 1925, issue for earlier data.d See table on p. 22, of the December, 1925 issue for earlier data.

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29

TREND OF BUSINESS MOVEMENTS—Continued

Where available December data havebeen included in this table. The cu~mulatives shown are in most instances,however, only through Novemberand, where designated by a footnote,through October. Earlier data foritems shown here may be found onpages 29 to 151 of the August, 1925,"Survey"

TEXTILES— Continued

Silk

Imports, raw thous. of lbs_.Deliveries (consumption) _ bales. _Stocks, end of month:

At warehouses _ .bales _At manufacturers' plants bales..

Price, Japanese, New York dolls, per lb_.Silk machinery activity:

Broad looms per cent of operation..Narrow looms.. per cent of operation. _Spinning spindles.. .per cent of operation _.

Clothing

Men's and boys' garments cut:Suits.. .thous. of garments..Separate trousers thous. of garments..Overcoats . _ thous. of garments..

Work clothing:Cut - . dozen garments..Shipments dozen garments..Returned dozen garments __Stocks, end of month dozen garments..

Hosiery

Production (all classes).. thous. of dozen pairs..Shipments ..thous. of dozen pairs..Stocks, end of month thous. of dozen pairs..New orders thous. of dozen pairs .Unfilled orders, end mo..thous. of dozen pairs..

Knit Underwear

Production thous. of dozens..Shipments thous. of dozens..Returned ..thous. of dozens..Stocks, end of month thous. of dozens..New orders thous. of dozens..Unfilled orders, end of mo thous. of dozens..

Burlap and FibersImports:

Burlap _ thous. of lbs_.Fibers (unmanufactured) long tons.

Pyroxylin Coated Textiles

Pyroxylin spread .thous. of lbs__Shipments billed thous. of linear yds..Unfilled orders, end of mo.thous. of linear yds..

Fall River Mill Dividends

(Reported quarterly')

Total ___, . .thous. of dollars.Ratio to capitalization.. per cent per quarter.

IRON AND STEEL

Iron Ore and Pig Iron

Iron ore:Shipment from mines.thous. of long tons.Receipts-

Lake Erie ports andfurnaces thous. of long tons.

Other ports thous. of long tons.Consumption thous. of long tonsStocks-

Total thous. of long tons.At furnaces. thous. of long tons.OnLakeEriedocks.thous. of long tons.

Pig-iron production:Total thous. of long tons.Merchant furnaces thous. of long tons.

Furnaces in blast, end of month:Furnaces _ number.Capacity long tons per day.Per cent of total per cent.

Ohio gray-iron foundries:Meltings long tons.Meltings per cent of normal.Stocks long tonsReceipts long tons.

1925

Septem-ber

8,40841, 684

42, 70828,1696.615

91.260.8

104.0

1,0831,547

565

256, 519243, 131

1,537302, 630

3,7564,1355,5654,1676,842

1,1191,223

201,1361,1742,460

43, 66420,936

2,8042,3771,857

23382.759

7,355

5,6461,8644,011

38, 42431, 4087,016

2,726617

20094, 550

52.4

19, 12584.30

20,04417, 991

October

7,24046, 815

39,42330, 1076.664

93.761.3

112.9

1,0411,731

657

285, 304248, 087

1, 878303, 001

4,0514,0675,4764,5807,163

1,2171,472

43941

1,4992,672

42, 62123, 621

2,9872,3801,852

7,004

5,1472,0884,609

41, 19833, 5427,656

3,023653

20697, 950

53.9

25, 00292.50

24, 85218, 595

Novem-ber

6,81441,848

46, 81330, 6026.566

96.459.1

107.0

1,0861,536

440

248, 687198, 737

4,616318, 428

3,8033,6075,7383,5806,993

1,0941,157

65957

1,0182,670

39, 95726, 930

2,5371,9751,933

4,258

3,1981,5174,554

41, 68633, 8307,856

i 3, 023679

220i 103, 445

57.6

15, 95375.40

1 17, 6011 14, 371

Decem-ber

42^484

49,824

6.811

!

_ .

:

3 2993 .634

7

485

7,081

3,250722

234107, 560

1924

October

5,61535, 508

44,39822, 6675.733

81.950.074.6

8901,533

687

245, 804230, 394

2,480321, 000

3,5973,7715,8494,4525,579

1,0171,103

21959

1,4731,811

40, 84616, 286

2,4601,6441,290

5,597

4,4611,2413,498

41, 53633, 4178,119

2,477619

18281, 490

45.2

15, 40764.50

20, 37512. 528

Novem-ber

6,34732,939

55, 51625, 0436.174

81.450.375.2

1,0461,289

368

242, 504190, 761

2,183316,884

3,2743,3045,7814,4336,492

90297921

9281,5562,233

30, 40927, 109

1,8891,5361,302

2,056

1,975651

3,689

40, 72832, 6798,049

2,510613

20589, 100

50.9

16, 20962.80

25, 38715. 680

Decem-ber

7,68533,961

61,53321,9486. 321

81.551.278.0

1,4681, 285

237

197, 725165, 850

9,103328,382

3,4023,4345,7523,9076,673

1,035. 988

27954

1,6692,833

43, 67428, 556

2,0211,4671,446

4588* 1. 337

9

45

4,542

36, 36029, 0147,346

2,962585

22898, 380

56.6

14, 47163.00

17, 66313. 083

PEB CENT IN-CREASE (+) OBDECBEASE (— )

1Novem-

ber,1»25,fromOcto-ber,1925

-5.9-10.6

+18.7+1.6-1.5

+2.9-3.6-5.2

+4.3-11.3-37.0

-12.8-19.9

+145.8+5.1

-6.1-11.3+4.8

-21.8-2.4

-10.1-21.4+51.2+1.7

—32.1-0.1

-6.3+14.0

-15.1—17 0+4.4

-11.5-16.5

-39.2

-37.9-27.3-1.2

+1.2+0.9+2.6

0.0+4.0

+6.8+5.6+6.9

-36.2-18.5-29.2-22.7

Novem-ber,1925,from

Sfovem-ber,1924

+7.4+27.0

-15.7+22.2+6.3

+18.4+17.5+42.3

+3.8+19.2+19.6

+2.5+4.2

+111. 5+0.5

+16.2+9.2-0.7

-19.2+7.7

+21.3+18.2

+209. 5+3.1

-34.6+19.6

+31.4-0.7

+34.3+28.6+48.5

-49.1-52.6

+107. 1

+61.9+133. 0+23.4

+2.4+3.5-2.4

+20.4+10.8

+7.3+16.1+13.2

-1.6+20.1-30.7

- -8.3

CUMULATIVE TOTALFBOM JANUABY 1THBOUGH NOVEM-BEB 30

1924

52,584331,976

13, 68516, 7974,591

2, 287, 2672,170,844

29, 619

36, 82736, 540

37, 014

531,980267, 736

24,38518, 098

2,821

42, 615

. 31,50910, 65041, 449

28, 1266,869

213, 693

161. 527

1925

69, 280458,8,59

15, 47317, 6504,232

2, 564, 8422,480,743

32,681

42, 22841, 712

43, 759

574,453283, 228

25, 62121, 223

1,674

54,068

38, 65215, 71249, 801

33, 1437,187

207, 911

173. 187

Percentin-

crease(+)

or de-crease(-)1925from1924

+31.8+38.2

+13.1+5.1-7.8

+12.1+14.3+10.3

+14.+14.2

+18.2

+8.0+5.8

+5.0+17.0

-40.7

+26.9

+22.7+47.5+20.2

+17.8+4.6

-2.7

1 +7.2i Revised. 2 Quarter ending Sept. 30,1925. 3 Quarter ending Dec. 31, 1925. < Quarter ending Dec. 31,1924.

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

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30

TREND OF BUSINESS MOVEMENTS—Continued

Where available December data havebeen included in this table. The cu-mulative* shown are in most instances fhowever, only through Novemberand, where designated by a footnote,through October. Earlier data foritems shown here may be found ?npages 29 to 151 of the August, 1925,"Survey"

IRON AND STEEL— Continued

Iron and Pig Iron— Continued

Malleable eastings:Production tonsShipments.. ... tons--Orders booked ...tons.-Operating activity per ct. of capacity. .

Wholesale prices:Foundry No, 2,

Northern dolls, per long ton..Basic (valley furnace).. dolls, per long ton._Composite pig iron dolls, per long ton_.

Crude Steel

Steel ingots, production thous. of long tons..Steel castings:

Total bookings short tonsRailroad specialties short tons. .Miscellaneous bookings short tons

U. S. Steel Corporation:Unfilled orders, end mo.thous. of long tons,.

Sheets, blue, black, and galvanized:Production (actual) short tonsProduction _ .per ct. of capacity. _; tocks, end of mo.—

Total.. . short tons. .Unsold. short tons..

Shipments . short tons _Sales short tonsUnfilled orders, end of mo short tons..

; ieel barrels:Production barrels..Shipments barrelsStocks, end of month _ _ barrels..Unfilled orders, end of month. barrels--

Wholesale prices:Steel billets, Bessemer -dolls, per long ton._Iron and steel _ -dolls, per long ton..Composite steel dolls, per 100 Ibs..Composite finished

steel - - dolls, per 100 lbs._Structural steel beams. --dolls, per 100 lbs_.

Iron and Steel Products

Exports (selected series) long tonsExports (total) long tons--Imports long tons -Structural steel, fabricated:

Bookings (prorated) _. short tons.-Bookings _ per ct. of capacity. _Shipments (prorated) short tons..Shipments per ct. of capacity--

Steel plate, fabricated, bookings:Total short tonsOil storage tanks short tons

Steel furniture:Business group —

Shipments thous. of dollars--Orders received -thous. of dollars. _Unfilled orders thous . of dollars. .

Shelving —Shipments thous. of dollars--Orders received thous. of dollars. .Unfilled orders thous. of dollars. _

Machinery

Machine tools, orders " _ _ -index number. _Washing-machine sales:

Total number-Electric number. .

Foundry equipment:Sales dollars. _Shipments dollarsUnfilled orders _ dollars. -

Agricultural pump shipments:Total thous. of dolls.-Pitcher, hand, etc - numberPower pumps ..nuinber..

Steam, power, and centrifugal pumps:New orders thous. of dolls..Shipments thous. of dollsUnfilled orders, end mo thous. of dolls..

Patents issued: -Total, all classes _ _ number. -Agricultural implements numberInternal-combustion engines number. _

Stokers:Sales number. _Sales horsepower.-

|

1925

Septem-ber

54,94350,62146, 530

51.7

20.5618.3020.08

3,493

48, 82717, 00836, 819

3,717

295, 81092.7

120, 79836, 587

262, 050286, 029497, 698

510, 869503, 22155, 184

1, 012, 576

35.0037. 332.61

2.402.00

106, 462136, 75461,015

232, 00080

234, 90081

24, 8888,458

1,8161,9701,535

542625512

69.3

78, 77466, 601

296, 438351, 121544, 042

64362, 9442,909

1,3231,4613,378

4,2816857

11938. 155

October

64,21655, 79561, 778

61.3

20.8918.6320.66

3,893

61, 04420, 57640, 468

4,109

348, 714106.4

123, 44440, 200

332,211403, 491595, 583

553, 545555, 98152, 748

890, 904

34.2537.572.61

2.412.00

99,504141, 81769, 280

255, 20088

263, 90091

28, 3388,076

2,1302,1701,406

622731627

82.9

70, 36259,918

424,054400, 646518, 795

66268, 1523,666

1,4811,5823,252

3,7256359

11453. 451

Novem-ber .

58,31551,86852, 053

56.8

22.1419.8821.83

3,907

69, 52731, 99337, 534

4,582

336, 021107.8

143, 28236, 105

294, 660370, 361636, 570

498, 929498, 070

53,6071, 248, 545

34.7538.732.63

2.432.00

128, 419171, 13470, 556

203, 00070

220, 40076

28, 5577,492

1,8861,9751,496

575687740

89.6

480, 328414, 148593, 456

1,2891,2903,256

3,7774853

7633. 461

Decem-ber

22.2620.0022.28

3,976

5,033

35.0039.122.65

2.452.00

_ __

4,7264843

1924

October

47, 30542, 27152, 485

44.0

21.2619.0020.37

3,125

66, 69731. 13035, 567

3,525

247, 22278.9

118, 54742, 685

229, 771221, 773275, 953

447, 900441, 85147, 626

682, 533

35.7538.652.68

2.462.00

132, 448158, 56037, 119

188, 50065

220,40076

24,1828,191

! 1, 7831,7611,185

595681327

39.2

67,92557, 553

259, 871252, 580329, 061

49547, 1772,380

1,0011,1522,197

3,2765670

10458. 565

Novem-ber

45, 27941, 65746, 512

42.5

21.2619.1320.66

2,121

74,22041, 34332,877

4,032

224, 93179.7

118, 38441, 573

219, 228462, 709531,845

391, 401389, 23049, 797

1, 230, 808

35.5039.012.68

2.491.90

97, 187124, 46430,411

240, 70083

185, 60064

34, 15312, 787

1,6791,6161,216

549527469

34.7

57, 30148, 072

284, 617203, 558399, 325

48439, 4372,494

8731,0232,052

3'5k268

10637. 167

Decem-ber

55, 02848, 28153,297

51.3

22.9620.9022.32

3,569

96,16453, 33242, 832

4,817

259, 79482.6

131, 59945, 743

229, 573350, 868663, 460

413, 785407, 474

53, 2651, 586, 034

36.0040.232.75

2.542.00

101, 889129, 46565, 511

229, 10079

182, 70063

48, 85026, 449

1,8731,9141,220

651597365

42.5

56, 57646,878

397, 738320, 109431, 656

46642, 7632,204

1,2931,1452,247

4,3506267

9131. 732

PER CENT IN-CREASE (+) ORDECREASE (— )

Novem-ber,1925,fromOcto-ber,1925

-9.2-7.0

-15.7-7.3

+6.0+6.7+5.7

+0.4

+13.9+55. 5-7.3

+11.5

-3.6+1.3

+16.1—10.2-11.3-8.2+6.9

-9.9-10.4+1.6

+40.1

+1.5+3.1+0.8

+0.80.0

+29.1+20.7+1.8

-20.5-20.5-16.5—16.5

+0.8-7.2

-11.5-9.0+6.4

-7.6-6.0

+18.0

+8.1

+13.3+3.4

+14.4

-13.0-18.5+0.1

+1.4-23.8-10.2

-33.3-37.4

Novem-ber,1925,from

Novem-ber,1924

+28.8+24.5+11.9+33.6

+4.1+3.9+5.7

+25.2

-6.3-22.6+14.2

+13.6

+49.4+35.3

+21.0-13.2+34.4-20.0+19.7

+27.5+28.0+7.7+1.4

-2.1-0.7

1 9

-2.4+5.3

+32.1+37.5

+132. 0

-15.7-15.7+18.8+18.8

-16.4-41.4

+12.3+22.2+23.0

+4.7+30.4+57.8

+158.2

+68.8+103. 5+48.6

+47.7+26.1+58.7

+7.5-11.1-22.1

-28.3-10.0

CUMULATIVE TOTALFROM JANUARY 1THROUGH NOVEM-BER 30

1924

535, 386527 129496^ 238

33,242

676, 676335, 025341, 651

2, 378, 232

1925

632, 155601, 247561, 039

40, 212

646, 235252, 310393,925

3, 195, 025

i

2, 282, 3752, 349, 419

4, 311, 8194, 314, 940

1, 375, 6461, 684, 194

412, 631

2,134,400

2, 189, 500

263, 55096, 923

3, 349, 3353, 355, 666

11,90012,490

38, 244561631

1,0371 482. 547

2, 900, 2932, 959, 870

5, 579, 1695, 577, 625

1, 244, 8471, 619, 625

756, 012

2, 401, 200

2, 447, 600

295,15879, 827

4, 248, 6903, 818, 742

15, 82014, 876

41, 726681710

1,240506.229

Percentin-

crease(t)

or de-crease

1925from1924

+18.1+14.1+13.1

"

+21.0

-4.5-24.7+15.3

+34.3

+27.1+26.0

+29.4+29.3

-9.5-3.8

+83.2

+12.5

+11.8

+12.0-17.6

+26.9+13.8

+32.9+19.1

+9.1+21.4+12.5

+19.644.-,

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

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31

TREND OF BUSINESS MOVEMENTS—Continued

Where\ available December data havebeen included in this table. The cu-mulatives shown are in most instances ,however, only through Novemberand, where designated by a footnote,through October. Earlier data foritems shown here may be found onpages 29 to 151 of the August, 1925,"Survey"

NONFERROUS METALS

Copper and BrassCopper:

Production-Mines _ short tonsSmelter short tons.-Refined (North and South America),

quarterly short tons..World production, blister .short tonsDomestic shipments, refined. ..short tons..Stocks (North and South America)—

Refined ,shorttons_.Blister short tons

Exports short tons. .Wholesale price, electrolytic.. dolls, per lb_.

Plumbing fixtures:Sales, tubular-

Quantity . _ number. _Value dollars

Wholesale price, 6 pieces dollars--Brass faucets:

Orders received number of pieces _Orders shipped number of pieces

Tin

Stocks, end of month:United States ...long tons..World visible supply long tons.-

Deliveries (consumption) .long tons __Imports long tonsWholesale price, pig tin dolls, per lb_.

Zinc

Retorts in operation, end of month. __ number _.Production _ short tons..Stocks, end of month .short tons..Ore, Joplin district:

Shipments short tonsStocks, mines, end of month _ short tons,.

Price, slab, prime western dolls, per lb__

LeadProduction... short tons..Ore shipments, Joplin district short tons..Receipts of lead in U. S. ore. short tons..Stocks, U. S. and Mexico, end rno.. .short tons..Price, pig desilverized (New York) .dolls, per lb,_

Babbitt MetalConsumption:

Total apparent thous. of lbs._Direct by producers thous. of lbs._Sale to consumers.. thous, of lbs._

OTHER MINERAL AND METALPRODUCTS

ArsenicCrude:

Production _ , short tons..Stocks, producers', end mo short tons..

Refined:Production short tons..Stocks, producers', end mo short tons..

Fire ExtinguishersShipments:

Motor vehicles _ . numberHand types _ _ number--

Farm Implements

Sales in Northwest thous. of dolls..

FUELS

Coal and CokeBituminous:

Production thous. of short tonsExports thous. oflongtons..

Consumption—By vessels thous. of long tons. .By electric power

plants thous. of short tons..Priees—

Mine average, spot. dolls, per short tons..Wholsesale, Kanawha, f. o. b.

Cincinnati dolls, per short tons..Retail, Chicago.. -dolls, per short tons—

1935 |

i

Septem-ber

67, 72076, 571

332, 637125, 20671, 215

69,007247, 39834, 516.1438

197, 703192, 638111. 72

368, 405338, 083

2,30917, 6426,3605,365.5641

86, 55647, 38411, 796

70, 05222, 500.0775

44, 33410, 81946.38196, 932.0951

4,6211,0413,580

5113,003

8667,493

12148, 826

2,530

46,8171,629

3611 3, 476

2.19

3.498.89

October

70, 81983, 239

138, 63476, 468

72, 855i 247, 061

30,872.1430

315, 143314,967

111. 77

442,427468, 330

2,46415, 7706,0706,401.6046

89, 87750, 4977,475

81, 27724,500.0828

52, 9279,702

47, 412104, 999

.0951

5,5501,3804,170

5173,143

7287,476

11946, 622

1,495

53, 2031,243

352

i 3, 704

2.14

3.398.99

Novem-ber

1 67, 371i 79, 292

i 133, 17382, 779

67, 838* 246, 910

30,547. 1435

385, 128110. 83

Decem-ber

79,030

354, 648

71, 358

73, 019243, 086

.1387

110. 13

1,90418, 1995,6704,574.6214

90, 08550, 6296,922

73, 91519,500.0861

50, 03313, 70948, 273

.0974

4,9551,4213,534

4923,346

5036,997

11341, 659

50, 7801,477

340

3,477

2.28

3.399.69

2,66418, 0246,160

.6195

95, 02953, 7949,295

67, 156

.0857

13, 180

.0931

2.19

3.39

1924

October

68, 98981,003

129,54758, 402

45, 528.1293

174, 822146, 958116. 15

460, 664446, 168

2,41918, 9715, 0904,496.5004

72, 13942, 48838,452

65, 58143,400.0632

47,4179,355

45, 57797, 471.0824

1,1293,475

1,2245,181

1,438

48, 3731,534

351

3,221

2.10

3.398.21

Novem-ber

68,29174,975

122, 00858,402

51, 831.1364

309, 268270, 379115.45

590, 333296, 729

2,08920, 9775,7904,191.5385

77, 63142, 63326, 912

79, 58731, 159.0380

46, 59712, 22242, 61998, 361.0869

1,2803,730

1,4676,245

784

42, 066974

289

3,293

2.06

3.398.13

Decem-ber

67, 64775, 333

333, 672125, 93958,402

136, 434237, 52848, 161.1426

595, 729452, 401114. 91

890, 924335, 180

2,84425, 0884,0855, 240.5572

81, #447, 71121, 208

58, 80926, 600.0737

45, 92010, 07842, 55287, 197.0921

1,2404,151

1,1416,676

699

46,2881,090

352

3,635

2.06

3.398.14

PEE CENT IN-CREASE (+) OEDECEEASE (— )

Novem-ber,1925,fromOcto-ber,1925

-4.9-4.7

+6.6-3.9+8.3

-6.94-0.1-1.14-0.3

4-22.3-0.8

Novem-ber,1925,from

Novem-ber,1924

-1.34-5.8

4-6.3+9.2

+41.7

_

-41.1+5.2

+42.4-4.0

-22.7+15.4-6.6

-28.54-2.8

4-0.24-0.3-7.4

-9.1-20.44-4.0

-5.54-41.34-1.8

4-2.4

-10 74-3.0

—15 3

-4.84-6.5

-30.9-6.4

—5 0—10.6

-4.64-18.8

-3.4

-6.1

4-6.5

0.04-7.8

-8.9-13.2-2.1+9.1

+15.4

+16.0+18.8-74.3

-7.1-37.4+26.6

+7.4+12.2+13.3

+12.1

-61.6-10.3

-65.7+12.0

+20.74-51. 6

+17.6

+5.6

+10.7

0.0+19.2

CUMULATIVE TOTALFEOM JANUAEY 1THEOUGH NOVEM-BEE 30

1934

725, 731816, 518

1, 300, 3321, 333, 545

694, 987

499, 185

2, 236, 252

5 3,765, 7635 3,943, 221

1935

772, 299869, 097

1, 352, 3091, 409, 632

755, 358

493, 723

2, 372, 510

83,765,819» 4,406, 389

60, 040 70, 29559, 899 69, 178

488,135 | 537,134

672, 771 746, 047

480,508 521,33289, 955 116, 145

459, 579 502, 149

16, 728

17,092

« 18, 402

437, 05214, 145

3,634

33, 950

7,799

10, 373

a 27, 187

470, 15114, 193

3,986

36,225

Percentin-

crease(t}or de-

crease(-)1925from1924

+6.4+6.4

+4.0+5.7+8.7

-1.1

+6.1

0.0+11.7

+17.1+15.5

+10.0

+10. 9

+8.5+29.1+9.3

-53. 4

-39.3

+47.7

+7.6+0.3

+9.7

+6.7

i Revised. • Ten months' cumulatives, Jan. 1, 1925, to Oct. 31, 1925, inclusive.

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

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32

TREND OF BUSINESS MOVEMENTS—Continued

Where available December data havebeen included in this table. The cu-mulative* shown are in most instances,however, only through Novemberand, where designated by a footnote,through October. Earlier data foritems shown here may be found onpages 29 to 151 of the August, 1925,*'Survey"

FUELS-ContiDued

Coal and Coke— Continued

Anthracite:Production thous. of short tonsExports - thous. of long tons -Prices-

Wholesale, chestnut,New York dolls, per long ton. .

Retail chestnut,New York dolls, per short ton

Coke:Production-

Beehive thous. of short tons..By-product thous. of short tons..

Exports . ._ -thous. of long tons..Price, furnace

Connellsville dolls, per short tons .

Petroleum

Crude petroleum:Production thous. of bblsStocks, end of month —

Tank farms and pipelines thous. of bbls

Imports -_ thous. of bblsConsumption-

Run to stills thous . of bblsOil wells completed numberMexican field —

Storage, Tampico thous. of bblsShipments _ . .thous. of bbls _

Price, Kansas-Oklahoma dolls, per bbL.Gasoline:

Production. thous. of gals..Exports . thous. of gals _Consumption _.thous. of gals..Stocks, end of month thous. of gals..Price, motor, New York dolls, per gal..Retail distribution, 21 States.thous. of gals..

Kerosene oil:Production thous. of gals..Consumption thous. of galsStocks at refineries at end mo .thous. of gals..Price, 150° water white dolls, per gal..Retail distribution, 13 States.thous. of gals__

Gas and fuel oil:Production ._ thous. of gals..Consumption—

By vessels thous. of gals._By electric power plants -thous. of gals

Stocks at refineries, end of mo. thous. of gals.Price, Okla.,24-26at refineries. dolls.per bbl .

Lubricating oil:Production thous. of gals__Consumption . thous. of galsStocks at refineries, end mo thous of galsPrice, Pa., 600° fil., "D"

at refineries dolls, pergal..

AUTOMOBILESProduction:

Passenger cars —Total number of carsUnited States number of cars. .Canada . number of cars

Trucks-Total . number of cars -United States ..number of cars--Canada number of cars

Exports:Assembled—

Total . _. number of cars .Passenger cars ..number of cars..Trucks number of cars -

Accessories and parts thous, of dolls..From Canada-

Total number of cars. .Passenger cars number of carsTrucks number of cars

Internal-revenue taxes collected on:Passenger automobiles and

motor cycles thous. of dolls. .Automobile trucks and

wagons thous. of dollsSales of automobile accessories

and parts thous. of dollsForeign assemblies number of cars . .

1925

Septem-ber

152163

11.27

15.04

7463,185

84

3.70

64, 708

343, 7404,027

62,2781,501

6,9051.600

906, 10988,011

848,8671, 514, 150

.170322,828

197, 834180, 298352, 656

.07437, 029

1, 280, 955

155, 79333, 977

.2, 521, 3971, 050

107, 71782, 676

283, 925

.153

272, 425262, 05310, 372

60, 37057, 8902,480

22, 81418, 7804,0347,561

5,5474,0301,517

11,800

1,463

53, 38111, 530

October

6846

11.28

17.04

1,006.3,402

6.53

i 64, 352

1341,7364,367

64, 1301,420

18,0296,6261.600

944, 433102, 404831, 774

1, 529, 248.170

312, 336

215, 158144,956335, 001

.07735, 199

1, 321, 652

128, 90035, 008

2,445,7551.056

109, 53475, 105

286, 595

.159

406, 572392, 65113, 921

45, 91444,2201,694

22,56218, 4874,0757,521

7,9766,2291, 747

5,089

580

33,0021 12, 437

Novem-ber

15131

11.29

1,2133,557

87

6.88

61, 658

341, 1164,891

60, 5211,188

18, 205

1.588

922, 058124, 301758,111

1,589,880.170

212, 665154, 241314, 554

.080

1, 229, 771

159, 09733, 072

2,299,0101.215

110,46773, 556

293, 912

.157

336, 358327, 617

8,741

39, 89337, 7042,189

28,47221, 1587,3146,346

9,3237,6591,664

12, 614

438

45, 19114, 399

Decem-ber

4.45

1.550

.~170~

.088

1.250

.174

1924

October

7,674362

11.48

14.17

6312,900

56

3.13

59, 937

362, 3744,873

55, 7791,060

21,4139,9891.250

760, 64790, 907

751, 4991, 152, 374

.140268, 404

232, 666134, 909308, 125

.08334, 109

1, 160, 683

173,88059, 024

1,611,586.933

97, 22361, 801

247, 998

.186

260,881254, 524

6,357

32,47531,2051,270

17, 09714, 3732,7245,534

4,5143,4811,033

7,469

1,301

39, 33912, 584

Novem-ber

6,776283

11.47

14.17

6302,927

57

3.23

56, 297

359, 6586,649

55, 0291,007

20, 72311, 2041.212

762, 04694, 951

698, 3591, 133, 169

.148257, 075

233, 521136, 605337, 448

.08230, 971

1, 134, 147

1 148, 02147,872

1, 641, 0901,019

94, 94870, 579

242, 246

.194

204, 343198, 381

5,962

27, 90526, 8241,081

13, 51711, 6191,8985,686

5,8054,3521,453

4,482

522

27, 93612,864

Decem-ber

7,376321

11.73

14.42

9003,267

56

4.04

56, 617

351, 9505,841

57, 880994

19,76911,4431.195

795, 61398, 701

662, 5891, 179, 503

.150237, 801

243, 832156,286338, 826

.08429, 972

1,199,093

169, 59657, 717

1, 670, 5091,170

104. 39160, 264

257, 336

.226

182, 099174, 899

7,200

27, 54225, 8521,690

13, 06010, 9622,0984,799

4,7723,847

924

8,586

361

36,2949,676

PER CENT IN-CREASE (+) ORDECREASE (-)

Novem-ber,1925,fromOcto-ber,1925

+122. 1-32.6

+0.1

+20.6+4.6

+22.5

+5.4

-4.2

-0.2+12.0

-5.6-16.3

+1.0

-0.7

—2.4+21.4-8.9+4.0

0.0

-1.2+6.4—6. 1+3.9

-7.0

+23.4-5.5-6.0

+15.1

+0.9-2.1+2.6

-1.3

-17.3—16.6—37.2

-13.1-14.7+29.2

+26.2+14.4+79.5-15.6

+16.9+23.0-4.8

+147. 9

-24.5

+36.9+15.8

Novem-ber,1925,from

Novem-ber,1924

-89.0

-1.6

+92.5+21.5+52.6

+113. 0

+9.5

-5.2-26.4

+10.0+18.0

-12.2

+31.0

+21.0+30.9+8.6

+40.3+14.9

-8.9+12.9-6.8-2.4

+8.4

+7.5-30.9+40.1+19.2

+16.3+4.2

+21.3

-19.1

+64.6+65.1

+463. 6

+43.0+40.6

+102. 5

+110. 6+82.1

+285.4+11.6

+60.6+76.0+14.5

+181. 4

-16.1

+61.8+11.9

CUMULATIVE TOTALFROM JANUARY 1THROUGH NOVEM-BER 30

1924

82, 8383,281

8,76830, 728

600

650, 648

71,935

588, 22013, 554

113, 057

8, 164, 0671, 080, 3057, 113, 712

2, 277, 2771,396,180

12, 260, 876

1,650,005644, 158

1, 050, 537696,848

3, 080, 6652,970, 100

110, 745

349, 802334, Oil15, 791

165, 061140, 10224,95968,231

51,88340, 03611, 847

92,529

9,973

518, 563132, 670

1925

62, 2512,834

9,34436, 223

722

695, 029

57,645

677, 65615, 386

90, 244

9, 914, 5781, 164, 8818, 573, 727

2, 286, 5531, 532, 525

13,981,027

1,646,377395,278

1, 187, 159796, 796

3, 532, 3903, 400, 589

131, 801

462, 394442, 21020, 184

269, 417219, 68249, 73576, 303

67, 17252, 36314,809

102, 600

7,174

423, 335160, 714

Percentin-

crease(+)

or de-crease(-)1925from1924

|

-24.9-13.6

+6.6+17.9+20.3

+6.8

-19.9

+15.2,+13.5

-20.2

+21.4+7.8

+20.5

+0.4+9.8

+14.0

-0.2-38.6

+13.0+14.3

+14.7+14.5+19.0

+32.2+32.4+27.8

+63.2+56.8+99.3+11.8

+29.5+30.8+25.0

+10.9

-28.1

-18.4+21 1

i Revised

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

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33

TREND OF BUSINESS MOVEMENT—Continued.

Where available December data havebeen included in this table. The cu-mulatives shown are in most instances,however, only through Novemberand, where designated by a footnote,through October. Earlier data foritems shown here may be found onpages 29 to 151 of the August, 1925,"Survey"

AUTOMOBILES— ContinuedNew passenger-car registrations: c

Second highest group number of cars. -

RUBBERCrude:

World shipments, plantation long tons-

Stocks, end of month-

Consumption by tire mfrs thous. of Ibs..Wholesale price, Para, N. Y_.dolls. per lb_.

Tires and Tubes

Pneumatic tires:Production thousands. .

Shipments, domestic thousands. _Inner tubes:

Production thousands..

Shipments, domestic thousands- .Solid tires:

Production... thousands. .

Shipments, domestic thousands . .

HIDES AND LEATHER

HidesImports:

Total hides and skins thous. of lbs_.Calfskins thous. of lbs_.Cattle hides _._ . tbous. of lbs._

Sheepskins thous. of lbs__Stocks, end of month:

Cattle hides thous. of lbs_-v^aii dnii Kip bKina. tuoua. 01 it)b_-

Priees:Green salted, packers' heavy native

n i i f i • ~-i- XT 1 !a 11 ' i ru "

LeatherProduction:

Sole leather thous. of bks., bends, sides..Finished sole and belting thous. of lbs__

Skivers dozUnfilled orders:

Oak and union harness sides..Stocks in process of tanning:

Stocks, end of month:oo e ana ueii ng _ _ i ous. O I I D S _ _

Exports:Sole. _ thous. of lbs._Upper _ thous. of sq. f t _ _

Prices:Sole, oak, scoured backs,

Chrome calf, "B " grades. .dolls, per sq. ft..

Leather ProductsBelting sales:

Quantity _ thous. oflbs..Value thous. of dolls..

Boots and shoes:Production thous. of pairs..Exports thous. of pairsWholesale prices-

Men's black calf,blucher, Mass .dolls, per pair

Men's dress welt, tancalf, St. Louis dolls, per pair..

Women's black kid, Goodyearwelt, St. Louis dolls, per pair..

* Revised. « See table on p. 14

1925

Septem-ber

193, 1697, 893

50, 46846, 41787, 0731,318

44, 49626, 367

63, 22046, 745

.590

3,7555,7613,293

5,4407,4634,851

5613639

27, 0551,977

12, 8726,0954,002

251, 459192, 75338, 45620, 250

.177

.198

1,10720, 70162, 64596, 54833, 418

215, 929

88, 202145, 869

131, 377296, 174

1,6377,991

.460

.460

361622

29, 769401

6.40

5.15

4.00

of the Oct

October

247, 0028,663

47, 81443, 918

145, 5081,099

44, 87234, 651

63, 57042, 211

.773

3,3795,0034,088

4,9596,5455,764

4512755

20, 3381,7738,9575,2483,268

259, 369203, 24638, 34317, 780

.174

.200

* 1,31823, 95768, 346

124, 90034, 205

182, 652

81, 303147, 329

127, 926291, 891

1,8597,986

.460

.460

364626

1 31, 055515

6.40

5.15

4.00

ober, 1926,

Novem-ber

37, 755

38, 876.853

3,1725,2162,667

4,6997,1193,982

4211947

27, 7161,262

16, 0206,1812,885

273, 686220, 29336, 44116, 952

.163

.198

1,07819, 98360, 289

112, 49228, 741

165, 083

78, 176149, 608

122,429290, 815

1,1377,855

.470

.460

24, 583557

6.40

5.15

4.00

issue for e

Decem-ber

.764

.156

.192

4.604.60

6.40

5.13

4.00

arlier data

1924

October

34, 29038, 997

50, 60046, 045

.262

3,8775,3383,046

5,8967,3524,177

4814545

26, 7193,469

13, 8973,8794,556

256, 232212, 22328, 11215, 897

.163

.194

1,35123, 38968,377

101, 16740, 539

168, 642

88, 504127, 332

134, 272324, 922

1,9237,504

.445

.460

338576

30, 826552

6.25

4.88

3.85

Novem-ber

Decem-ber

ji!

36, 59933, 691

54, 30039, 812

.286

3,1905,2073,273

4,6027,6684,679

4214941

33, 3552,873

22, 1453,4483,358

265, 605223, 36127, 19615, 048

.174

.203

1,19820, 78357, 63396, 43238, 170

157, 592

89, 329129, 682

126, 204316, 411

1,8646,959

.465

.460

303515

25, 322494

6.25

5.00

3.85

s Ten mo

39, 82326,407

57, 67038, 956

.315

3,4385,5713,008

4,7048,2894,066

4615439

39, 0203,543

22, 8985,0594,207

283, 266241, 63927, 84013, 787

.174

.209

1,36223, 47667, 89597, 99040, 706

125, 435

86, 888132, 351

124, 445311, 074

2,1826,535

.480

.480

324548

24, 602569

6.25

5.00

3.90

nths' cumi

PEE CENT IN-CREASE (+) ORDECREASE (— )

Novem-ber,1925,fromOcto-ber,1925

+9.0

-7.9+10.3

-6.1+4.3

-34.8

-5.2+8.8

-30.9

-6.7-6.3

-14.5

+36.3-28.8+78.9+17.8-11.7

+5.5+8.4-5.0-4.7

-6.3-1.0

-18.216 6

-11.8-9.9

-16.0

—9.6

• — 3. 8+1.5

-4.3-0.4

-38.8-1.6

+2.20.0

-20.8+8.2

0.0

0.0

0.0

ilatives, .

Novem-ber,1925,from

Novem-ber,1924

+12.1

-2.4+198. 3

-0.6+0.2

-18.5

+2.1-7.2

-14.9

0.0-20.1+14.6

-16.9-56.1-27.7+79.3-14.1

+3.0-1.4

+34.0+12.7

-6.3-2.5

-10.0-3.8+4.6

+16.7-24.7

+4.8

-12.5+15. 4

-3.0-8.1

-39.0+12.9

+1.10.0

-2.9+12.8

+2.4

+3.0

+3.9

Fan. 1 to

CUMULATIVE TOTALFROM JANUARY 1THROUGH NOVEM-BER 30

1994

302, 988

414, 890

35,288

33, 560

48, 324

46, 010

512

486

317, 65537, 570

162, 71947, 17253, 910

1935

356, 903

512, 619

42, 063

40, 644

56, 711

55, 891

569

561

337, 17727, 317

155, 64774, 58258, 266

j

13, 282236, 498701, 515

1, 151, 460363, 609

20, 34577, 252

5 3, 6175 6, 167

288, 6275,743

13, 821249, 015690, 930

1, 123, 869369, 431

17, 26082, 256

5 3, 7168 6, 364

299, 1016,047

Percentin-

crease(+)

or de-crease(-)1925from1924

+17.8

+23.6

X

XX

+19.2

+21.1

+17.4

+21.5

+11.1

+15.4

+6.1-27.3-4.3

+58.1+8.1

+4.1+5.3-1.5-2.4+1.6

-15.2+6.5

+2.7+3.2

+3.6+5.3

Oct. 31, 1925, inclusive.

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

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34

TREND OF BUSINESS MOVEMENTS—Continued

Where available December data havebeen included in this table. The cu-mulatives shown are in most instances,however, only through Novemberand, where designated by a footnote,through October. Earlier data foritems shown here may be found onpages 29 to 151 of the August, 1925,"Survey"

HIDES AND LEATHER— Continued

Leather Products— Continued

Gloves:Glove leather-

Production number of skins _Stocks (tanned)—

In process number of skins .Finished _ _ number of skins. _

Gloves cut-Total _ ... dozen pairs..Dress and street-

Imported leather dozen pairs. .Domestic leather dozen pairs..

Work gloves dozen pairs..

PAPER AND PRINTING

Wood PulpMechanical:

Production short tons._Consumption and shipments short tonsStocks, end of month short tons..Imports short tons

Chemical:Production short tonsConsumption and shipments short tons._Stocks, end of month short tonsImports short tonsPrice _ dolls, per 100 lbs_.

Newsprint Paper

Production .short tonsConsumption short tonsShipments _ _ _ _ _ . . short tonsImports short tons__Exports . short tonsStocks, end of month:

At mills short tonsAt publishers short tonsIn transit to publishers short tonsPrice roll f o b mill dolls per cwt

Printing

Book publication:American manufacture no. of titlesImported . _ _ __ .no. of titles

Sales books, shipments thous. of books-Printing activity weighted index number. .

Boxboard

Operation _ inch hours. .Operation per ct of capacityProduction _ tonsOrders received tonsUnfilled orders, end of month tonsConsumption of waste paper tons _ _Shipments tonsStocks end of month tonsStocks of waste paper, end of month:

On hand tonsIn transit tons _Unshipped purchases tons

Other PaperBook paper:

Production short tonsStocks end of month short tons

Wrapping paper:Production short tonsStocks end of month short tons

Fine paper:Production short tonsStocks end of month short tons

All other grades:Production short tonsStocks end of month short tons

Total paper (inc. newsprint and boxboard) :Production short tons..Stocks, end of month _. .short tons..

1925

Septem-

482, 137

1, 127, 024343, 559

207, 796

44, 31524, 437

139, 044

100, 594134, 505212, 66624, 777

i 196, 690i 193, 784

1 45, 252111, 163

2.68

121, 019145, 082127, 409110, 688

1,869

27, 326159, 92631, 054

3.70

695117

12, 97396

8, 152, 403102.2

i 198, 749191, 840109, 191187, 620

i 202, 599* 51, 699

155, 47613, 86635, 721

103, 77264, 064

i 89, 07690, 205

35, 75049, 558

102, 19563, 989

i 650, 661i 350, 117

October

560, 730

1, 287, 706328, 282

223, 118

48, 63730, 121

144, 360

139, 066151, 238199, 89532, 812

i 219, 752i 222, 370i 41, 140117, 388

2.68

135, 225167, 515142, 204145, 088

1,784

20, 446144, 33333, 261

3.70

977157

12, 654108

18,438,784100.9

204, 492207, 178101, 981189, 684213, 01946, 054

i 168, 30518, 58730, 324

111, 03664, 705

99, 91685, 675

41, 25549, 923

107, 891i 61, 551

i 699, 795i 332, 884

Novem-ber

576, 743

1, 353, 367324, 050

201, 767

41, 60629, 870

130, 291

138, 789144, 371191, 94935, 105

204, 800204 34037, 960

110, 3282.68

130, 102163, 935133, 199124, 681

2,947

17, 418131, 23634, 635

3.70

668126

12, 172

7, 770, 10697.4

190, 136192,451102, 786179, 026191, 64644, 541

165, 28915, 01031, 918

105, 48463, 411

84, 67279, 461

37, 04550, 288

96, 03761, 126

643, 476316, 232

Decem-ber

nu

October

525, 459

1, 365, 963404, 552

197, 927

36, 69829, 523

131, 706

145, 523155, 348194, 88230, 565

227, 424229, 03248, 562

135, 2382.51

129, 852147, 448130, 281114, 121

1,677

28,229187, 15833, 575

3.78

79993

12, 584105

8, 422, 01496.6

196, 633180, 84687, 563

189, 187198, 35244, 682

175, 94514, 92127, 804

111, 41048, 103

90,130104, 867

33, 12550, 174

109, 90657, 602

670, 633333, 622

Novem-ber

475, 959

1, 370, 615350, 246

163, 045

34, 92023, 684

104,441

121, 700131, 822183, 84624, 835

198, 506195, 19051, 778

109, 0472.57

118, 275145, 363121, 658112, 442

1,454

25, 062169, 38936, 394. 3.78

905181

10, 79993

7, 546, 373104.7

170, 550174, 18494, 711

162, 771169, 01846, 214

164, 06515, 52329, 423

104, 72549, 546

84, 314109, 586

29, 94451, 523

95, 72357, 977

601, 859339. 620

Decem-ber

513, 391

1, 314, 152288, 157

156, 954

23, 92621, 598

111,430

123, 465127, 911179, 46629, 228

198, 640195, 76054, 372

132, 3442.63

121, 053143, 712122, 148125, 241

1,350

23, 838167, 02432, 935

3.78

530161

12, 032106

7, 488, 75689.8

170, 674180, 284107, 584163, 878168, 67748, 211

179, 44214, 32931, 620

105, 77251, 528

88, 109113, 614

30, 56852, 143

101, 26357, 782

616, 648347, 115

PER CENT IN-CREASE (+) ORDECREASE (-)

Novem-ber,1925,fromOcto-ber,1925

+2.9

+5.1-1.3

-9.6

-14.5-0.8-9.7

-0.2-4.5-4.0+7.0

-6.8-8.1-7.7-6.0

0.0

-3.8-2.1-6.3

-14.1+65.2

-14.8-9.1+4.1

0.0

-31.6-19.7-3.8

—7.9-3.5-7.0-7.1+0.8-5.6

-10.0-3.3

-1.8-19.2+5.3

-5.0-2.0

-15.3-7.3

-10.2+0.7

-11.0-0.7

-8.0-5.0

Novem-ber,1925,from

Novem-ber,1924

+21.2

-1.3-7.5

+23.7

+19.1+26.1+24.8

+14.0+9.5+4.4

+41.4

+3.2+4.7

-26.7+1.2+4.3

+10.0+12.8+9.5

+10.9+102. 7

-30.5-22.5-4.8-2.1

-26.2-30.4+12.7

+3.0-7.0

+11.5+10.5+8.5

+10.0+13.4-3.6

+0.7-3.3+8.5

+0.7+28.0

+0.4-27. 5.

+23.7-2.4

+0.3+5.4

+6.9-6.9

CUMULATIVE TOTALFROM JANUARY 1THROUGH NOVEM-BER 30

1924

5, 345, 701

2,107,206

360,398336,833

1, 409, 975

1, 625, 2561, 549, 638

221, 924

2, 191, 0342, 213, 756

1, 144, 440

1, 349, 5281, 358, 8041, 347, 9111, 231, 542

15, 794

6,7981,562

123,086

88, 701, 925

1, 974, 1161, 966, 659

1, 884, 8551, 972, 532

1, 125, 061

927, 556

339, 154

1, Oil, 763

6, 720, 655

1935

5, 798, 658

2, 241, 770

462, 050342, 363

1, 437, 357

1, 553, 2841, 568, 322

299, 400

2, 253, 4662, 256, 780

1, 221, 882

1, 388, 8251, 614, 6791, 391, 7141, 326, 160

20, 796

7,5121,479

130, 712

86, 962, 214

2, 082, 5502, 089, 928

1, 971, 1322, 087, 770

1,176,864

1, 079, 464

410, 683

1, 103, 990

7, 158, 442

Percent

i in-crease

(+)or de-crease(-)1925from1924

+8.5

+6.4

+28.2+1.6+1.9

-4.4+1.2

+34.9

+2.8+1.9

+6.8

+2.9+18.8+3.2+7.7

+31.7

+10.5-5.3+6.2

-2.0

+5.5+6.3

+4.6+5.8

+4.6

+16.4

+21.1

+9.1

+6.5

i Revised.

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

Page 37: Siv.''. - • •- •%';; '^tp^^v;y^ · Wholesale price comparisons 5 Business summary . 6 Indexes of business (production, prices, sales, etc.) 25 TREND OP BUSINESS MOVEMENTS Page

35

TREND OF BUSINESS MOVEMENTS—Continued

Where available December data havebeen included in this table. The cu-mulatives shown are in most instances,however, only through Novemberand, where designated by a footnote,through October. Earlier data foritems shown here may be found onpages 29 to 151 of the August, 1925,"Survey"

PAPER AND PRINTING— Continued

Paperboard Shipping Boxes

Production:Total thous. of sq. ft .Corrugated thous. of sq. ft..Solid fiber thous. of sq. ft..

Operating activity:Total per cent of normal .Corrugated per cent of normal . .Solid fiber _ per cent of normal. .

Other Paper Products

Rope paper sacks, shipments. ..index number..Abrasive paper and cloth:

Domestic sales .reams. .Foreign sales reams..

BUTTONS

Fresh-water pearl buttons:Production per ct. of capacity. .Stocks, end of month thous. of gross..

GLASS

Illuminating glassware:Net orders. per ct. of capacity. .Actual production per ct. of capacity. .Shipments billed .per ct. of capacity..

BUILDING CONSTRUCTION ANDHOUSING

Bental advertisements:Portland, Oreg number..Minneapolis, Minn number. .

Heal estate conveyances (41 cities) number. .

Building Costs (Index Numbers)

Building materials:Frame house, 6-room, 1st of following mo...Brick house, 6-room, 1st of following mo

Building costs (Engineering News Record), 1stof following month

Concrete factory costs (Aberthaw), 1st of fol-lowing month

•Construction index: <*Frame index number..Brick, wood frame.- index number..Biick, steel frame index number. .Reinforced concrete index number. .

Construction and Losses

•Contracts awarded (36 States) :Commercial buildings thous. of sq. ft..Industrial buildings _ .thous. of sq. ftResidential buildings thous. of sq. ft..Educational buildings thous. of sq. ft_.Other public and semi-

public buildings thous. of sq. ftGrand total thous. of sq ft

Contracts awarded, value (36 States) :Commercial buildings thous. of dollsIndustrial buildings thous. of dollsResidential buildings thous. of dolls..Educational buildings thous. of dolls_.Other public and semi-

public buildings thous. of dollsPublic works and utilities. -thous. of dolls. _

Grand total thous. of dollsFire losses:

United States and Canada. -thous. of dolls ..Great Britain thous. of £ sterling. .

Lumber

Southern pine:Production (computed) M ft. b. mShipments (computed) M ft. b. m__Orders (computed) M ft. b. m. .Stocks, end of mo. (computed) . M ft. b. m_.Exports (incl timber) M ft. b mPrice, flooring dolls, per M ft. b. m_.Stocks, end of mo. (computed) .M ft. b. m__

1925

Septem-ber

370, 315290, 69879, 617

818279

133

86,44810, 997

46.212, 228

45.950.147.8

1,5108,497

149, 156

194195

205

194

200210199200

13, 2628,643

46, 7904,744

8,27086, 167

80, 17143, 298

250,41735, 217

59, 44579, 668

548, 217

25, 396395

481, 936491,568501, 395

1, 181, 90643, 99346.42

1, 181, 906

October

422, 548341, 38481, 164

889081

1381 102, 058

14,034

48.112, 197

50.651.051.9

1,4297,079

165,375

195196

206

194

201210199201

12, 2287,231

52, 2383,937

5,41882, 577

55, 91263, 316

262, 72628, 192

43,37666, 007

519, 528

23, 991647

484, 840496, 022511, 706

1, 199, 32848, 93247.41

1, 199, 328

Novem-ber

101

76,87714, 836

47.312, 286

47.346.147.3

5,136

193195

206

194

204212199201

11,4217,758

50,3093,157

4,07077, 871

61, 33653, 309

240, 28022,048

30, 67557, 035

464, 683

30, 320

423,026469, 155494, 812

1, 152, 74360, 23248.27

1, 152, 743

Decem-ber

3,042

208

195

49.83

1924

October

331, 390256, 41074, 980

777778

153

86, 5878,591

32,113, 605

45.845.748.3

1,2996,226

150, 824

196199

208

195

204216206202

9,6644,478

32, 1434,127

4,19555, 087

55, 96929, 033

166, 19927, 675

29, 991101, 224410, 091

27,944510

463,009493, 650506, 478

1, 080, 02673, 12140.31

1, 080, 026

Novem-ber

332, 824259, 30073, 434

787780

119

73, 58111, 940

36.1i 13, 623

43.551.045.5

1,2465,058

130, 824

195193

206

195

203215205201

10,0384,101

34, 7792,825

3,18155, 258

55, 25534, 373

191,31918, 311

22, 94757, 455

379, 660

39,082392

424, 187482, 758524, 194

1, 026, 24656,96242.48

1, 026, 246

Decem-ber

321, 617248, 95672, 661

757476

112

77, 42911,606

36.813,656

42.243.639.5

1,0043,307

139, 453

201202

209

197

203214205201

8,4248,705

33, 1533,254

3,78553, 625

38, 69630, 776

166,83925, 797

30, 25935, 620

327, 986

44,477432

422,347423, 993428, 688

1, 041, 77483,11944.42

1, 041, 774

PER CENT IN-CREASE (+) ORDECREASE (— )

Novem-ber,1925,fromOcto-ber,1925

-26.8

-24.7+5.7

-1.7+0.7

-6.5-9.6-8.9

-27.4

-1.0-0.5

0.0

0.0

+1.5+1.0

0.00.0

-6.6+7.3-3.7

-19.8

-24.9-5.7

+9.7-15.8-8.5

-21.8

-29.3-13.6-10.6

+26.4

-12.7-5.4-3.3-3.9

+23.1+1.8—3 9

Novem-ber,1925,from

Novem-ber,1924

-15.1

+4.5+24.3

+31.0-9.8

+8.7-9.6+4.0

+1.5

-1.0+1.0

0.0.

-0.5

+0.5-1.4-2.9

0.0

+13.8+89.2+44.7+11.8

+27.9+40.9

+11.0+55.1+25.6+20.4

+33.7-0.7

+22.4

-22.4

-0.3-2.8-5.6

+12.3+5.7

+13.6+12.3

CUMULATIVE TOTALFROM JANUARY 1THROUGH NOVEM-BER 30

1924

53,026,47982,265,339

5 760, 540

870, 600110, 371

* 10, 88054, 152

•1,421,251

104, 61545, 327

389, 15354, 988

51, 926652, 783

557, 646315, 494

1, 883, 255341, 643

362, 480688,291

4, 157, 806

333, 052' 6, 619

5, 018, 0615, 089, 8025,136,466

762, 142

1925

83,450,2645 2, 680, 352

5 769, 894

971,071132, 185

« 12, 26357, 122

5 1, 534, 804

137, 67462, 274

492, 23155, 294

65,413824, 602

767, 903433, 409

2, 422, 027381, 559

512, 757793, 818

5, 311. 372

330, 226« 6, 077

5, 231, 2015,209,9465, 274, 862

739, 299

Percentin-

crease

or de-crease

1925from1924

+14.0+18.3+1.2

+11.6+19.8

+12.7+5.5+8.0

+31.6+37.4+26.5+0.6

+26.0+26.3

+37.7+37.4+28.6+11.7

+41.5+15.3+27.7

-0.8-8.2

+4.2+2.4+2.7

-3.D

i Revised. « Ten months' cumulatives Jan. 1, to Oct. 31,1925 inclusive. d See table on p. 26 of the October, 1925, issue for earlier data.

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

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36

TREND OF BUSINESS MOVEMENTS—Continued.

Where available December data havebeen included in this table. The cu-mulatives shown are in most instances,however, only through Novemberand, where designated by a footnote,through October. Earlier data foritems shown here may be found onpages 29 to 151 of the August, 1925,"Survey"

BUILDING CONSTRUCTION ANDHOUSING— Continued

Lumber—ContinuedDouglas fir:

Production M ft. b. mShipments (computed) M ft. b. m._New orders M ft. b mExports, lumber M ft. b. mExports, timber M ft. b. mPrice, No. 1 common. dolls, per M ft. b. m._

California redwood:Production (computed) M ft. b. m__Shipments (computed) M ft. b. mOrders received (computed) M ft. b. m

California white pine:Proiuction M f t b mShipments M ft. b. mStocks, end of month M ft. b. m

Western pine:Production (computed).. M ft. b. m._Shipments (computed) M ft. b. mStocks, end of mo. (computed) _M ft. b. m_.

North Carolina pine:Production (computed) _ ._M ft. b. m..Shipments (computed) M ft. b. m

Northern pine:Lumber —

Production M f t b mShipments M ft. b. m _ _Orders received M ft. b. m

Lath-Production M ft. b mShipments M ft. b. m__

Northern hemlock:Production M ft. b. mShipments M f t b m

Northern hardwood:Production M ft. b. m._Shipments M ft. b. m

Walnut lumber:Production M ft. b. mShipments M ft. b. mStocks, end of month M ft. b. m

Walnut logs:Purchased M ft log measureMade into lumber and

veneer M ft. log measureStocks, end of month... M ft. log measure--

Hardwoods:Total stocks-

Total hardwoods M ft. b. mGum M f t b mOak M ft. b. m

Unsold stocks-Total hardwoods M ft. b. mGum M ft. b. m._Oak M ft. b. m

Unfilled orders —Total hardwoods M ft. b. mGum M f t b mOak M ft. b. m

Units reporting number. _All lumber:

Production, 10 species M ft. b. m._Exports, planks, joists, etc M ft. b. m_.Retail yards, Minneapolis

Fed. res. dist.—Sales M ft. b mStocks, end of month M ft. b. m

Composite lumber prices:Hardwoods dolls, per M ft. b. mSoftwoods dolls, per M ft. b. m

FlooringMaple flooring:

Production.. _ . _ _M ft. b. mShipments M f t b. mStocks, end of month M ft. b. mOrders booked M ft b. mUnfilled orders, end of month M ft. b. m

Oak flooring:Production M ft. b. mShipments M f t b mStocks, end of month M ft. b. mOrders booked M f t b. mUnfilled orders, end of month. _M ft. b. m._

1925

Septem-ber

568, 960575, 227564, 48449, 22527, 07816.50

39, 45138, 62032, 391

167, 244129,970641, 152

173, 285151, 440

1, 037, 717

63, 50455, 979

45, 82550, 46542, 994

12, 14411, 197

29, 20719, 285

15, 39929, 508

3,3633,287

20, 688

2,897

2,8794,770

761, 818222, 577228, 742

608, 554171, 838178, 850

176, 21760, 71256, 688

200

2, 800, 999138, 044

20, 999115,453

40.5830.35

9,29210, 70422, 7509,7669,980

45, 92245, 63038, 37239, 96852, 729

October

600, 295600, 743549, 26461, 45734, 01416.50

44, 08936, 64138, 328

164, 357145, 665659, 855

i 175, 843i 140, 48011,071,835

62, 53851, 352

38, 49155, 48549, 856

9,2849,881

28, 50021, 622

25, 17539, 979

3,2733,066

20, 858

1,842

2,3783,930

783, 401226, 808243, 417

619, 997170, 786193, 980

188, 40067, 14355, 712

206

2, 839, 217170, 376

20, 978104, 922

40.5430.35

10, 7209,439

23, 7287,9168,219

49, 49849, 68639, 92140, 09444, 793

Novem-ber

584, 180526, 881621, 78238, 68325, 67816.50

36, 89738, 21637, 103

118, 200111, 350644, 318

146, 568113, 626

1, 148, 409

58, 24051, 100

15, 28643, 90836, 018

4,1186, 735

2,9793,813

20, 024

2,121

2,3614,000

788, 180225, 087249, 340

613, 814168, 829195, 297

207, 56172, 35461, 572

216

2, 492, 168148, 858

17, 95694, 817

41.6730.59

9,084•7, 445

25, 0726,3407,829

41, 94739, 27643, 20441, 59450, 565

Decem-ber

15.50

35, 59136, 11936, 798

9,2544,884

41.6930.34

1934

October

542, 996503, 156637, 89845, 48939, 09216.50

44, 53232, 75535, 099

126, 115102, 239673, 923

147, 659144, 203

1, 128, 395

51, 84956, 042

41, 33352, 98539, 696

12, 38110, 108

21, 29320, 373

14, 43032, 856

3,9903, 889

14, 556

3,345

2,9972,695

563, 759174, 274193, 997

455, 080138, 168159, 771

123, 84541, 54639, 738

157

2, 509, 998157, 877

18, 643104,906

42.1929.79

7,7077,761

23, 0736,8648,124

42, 25342, 49741, 10534, 65736,005

Novem-ber

515, 690465, 106566, 27446, 13923, 75816.50

53, 50741, 10443, 684

78, 75389, 684

630, 653

120, 413125, 977

1, 116, 779

58, 82153, 844

9, 18538, 52941,976

2,3145,957

12, 15917, 191

15, 71326, 835

3,9903,352

15, 176

3,243

3,7312,931

653, 653202, 489222, 837

516, 247157, 123173, 532

158, 17954, 13554, 927

183

2, 304, 835176, 055

17, 52591, 546

42.5930.21

7,9467,284

22, 9318, 3668,859

37, 06435, 72141, 79546, 10347, 883

Decem-ber

446, 752455, 258527, 77639, 93125, 35716.50

50, 50337, 19544, 695

39, 81385, 378

630, 157

92, 278148, 118-

1, 053, 038

43, 84144, 919

21, 00738, 98450, 693

5,8314,736

17, 96415, 899

26, 92326, 820

4,2563,818

15, 614

2,902

3,0172, 686 !

666, 825214, 889227, 743

524, 142165, 871180, 474

167, 92460, 67753, 004

182

2, 153, 206160, 298

8,987101, 666

42.6330.96

10,0346,935

25, 99210, 65212, 735

36, 97534, 64243, 82339, 88753, 295

PER CENT IN-CREASE (+) ORDECREASE ( — )

Novem-ber,1925,fromOcto-ber,1925

o 7-12.3-f 13. 2-37.1-24.5

0.0

-16.3+4.3-3.2

-28.1-23. 6-2.4

-16. 6-19.1+7.1

-6.9-0.5

-60.3-20.9-27.8

-55.6-31.8

-8.1+24.4-4.0

+15.1

-0.7+1.8

+0.6-0.8+2.4

-1.0-1.1

+10.2+7.8

+10.5+4.9

-12.2-12.6

-14.4-9.5

+2.8+0.8

-15.3-21.0+5,7

-19.9-4.7

-15.321 0

+8.2+3.7

+12.9

Novem-ber,1925,from

Novem-ber,1924

+13.3+13. 3+9.8

-18.2+8.1

0.0

-31.0-7.0

-15.1

+50.1+24.2+2.2

+21.7-9.8+2.8

-1.05.1

+66.4+14.0-14.2

+78.0+13.1

-25.3+13.8+31.9

-34.6

-36.7+36.5

+20.6+11.2+11.9

+18.9+7.5

+31.2+33.7+12.1+18.0

+8.1-15.4

+2.5+3.6

-2.2+1.3

+14.3+2.2+9.3

-24.2-11.6

+ 3.2+10.0+3.4-9.8+5.6

CUMULATIVE TOTALFROM JANUARY 1THROUGH NOVEM-BER 30

1934

5, 419, 2215, 517, 7055, 590, 671

583, 609459, 763

527, 131413, 804412, 847

1, 112, 924835, 907

1, 559, 6491, 474, 897

545, 890547, 120

494, 499496, 469482, 181

124, 067136, 817

8 214, 873s 193, 954

« 357, 590s 288, 740

38, 09133, 909

28, 785

29, 703

26, 882, 8511, 778, 391

151, 652

93, 19887, 449

86, 363

38 ,138389, 025

390, 914

1925

6, 001, 1626, 128, 2956, 165, 001

530, 063291, 210

472, 712427, 194414, 588

1, 320, 5201, 177, 957

1, 696, 8951,535,157

605, 563570, 619

523, 591506, 331456, 725

136, 065109, 716

5 206, 168« 182, 642

5 354, 5635 281, 889

41, 71937, 493

33, 168

32, 855

29, 041, 9943,738,874

179, 490

95, 93994, 276

91, 568

475, 793472, 084

461, 922

Percentin-

crease(+)

or de-crease(-)1925from1924

+10.7+11.1+10.3+9.2

-36.7

-10.3+3.2+0.4

+18.7+40.9

+8.8+4.1

+10.9+4.3

+5.9+2.0-5.3

+9.7-19.8

-4.1-5.8

-0.8-2.4

+9.5+10.6

+15.2

+10.6

+8.0-2.2

+18. 4

+2.9+7.8

+6.0

+24.8+21.4

+18.2

1 Bevised. s Ten months' cumulatives, Jan. 1 to Oct. 31, 1925, inclusive.

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37

TREND OF BUSINESS MOVEMENTS—Continued

Where available December data havebeen included in this table. The cu-mulatives shown are in most instances,however, only through Novemberand, where designated by a footnote,through October. Earlier data foritems shown here may be found onpages 29 to 151 of the August, 1925,"Survey"

BUILDING CONSTRUCTION ANDHOUSING— Continued

Wooden Furniture

Piano benches and stools:New orders dollarsUnfilled orders dollars..Shipments-

Value. dollars..Quantity pieces..

BrickPaving brick:

Production-Actual . thousands . _Relation to capacity per cent

Shipmp/nts thniisaridsStocks, end of month thousandsOrders received thousands..Cancellations. thousandsUnfilled orders end of month ._ .thousands ._

•Common brick:Stocks, end of month-

Burned _ thousandsUnburned thousands _

Shipments thousandsUnfilled orders .. • thousandsFirms reporting number. .Plants closed down .. numberPrice, red, New York dolls, per thous..

Floor and Wall Tile

Production thous. of sq. ftShipments, quantity thous. of sq. ftShipments, value .thous. of dolls.Stocks, end of month.. ..thous. of sq. ft .

Architectural Terra Cotta

Bookings:Quantity. ..net tons _Value thous of dolls

Portland Cement

Production . . thous. of bblsShipments thous. of bbls

•Stocks, end of month thous. of bbls_.Prices:

Chicago district dolls, per bbl_.Lehigh Valley dolls, per bbl_.

Highways

'Concrete paving contracts awarded:Total thous. of sq. yds..Roads _ _ .thous. of sq. yds

Tederal-aid highways under construction, endof month:

Estimated cost thous. of dollsDistance miles

Roofing

Preparing roofing:Shipments thous. of roof squares. .

Dry roofing felt:Production ... __ tonsStocks, end of month tons..

Sanitary Ware

Baths, enamel: JOrders shipped ..numberStocks, end of month .number..Orders received number

Lavatories, enamel:Orders shipped _ numberStocks, end of month number.Orders received number. _

-Sinks, enamel:Orders shipped numberStocks, end of month numberOrders received number

Miscellaneous, enamel:Orders shipped. numberStocks, end of month.. . _ numberOrders received number

^Unfilled orders, end of month:Baths number..Small ware number..

1935

Septem-ber

121, 04840, 648

105, 80017, 789

j

30, 07278

29, 773104, 28631, 925

2,36263, 702

338, 857104, 066171, 830252, 511

11512

14.75

5,0925,1781,8926,617

18, 5502,156

15, 93917, 71110, 247

1.751.75

9,7304,087

291, 54912, 186

3,176

23, 2723,231

122, 56484, 933

i 121, 827

139, 858205,012

i 145, 226

140, 046239, 654i 145, 236

56, 701151, 433

* 57, 629

107, 316261, 737

October

131, 92044, 440

115,02420, 963

28, 93574

28,48299, 56719, 0213,262

51, 161

306, 58886, 164

172, 542262, 534

11718

14.75

5,3135,4702,0276,542

12, 3411,607

15, 99215, 30910, 979

1.701.75

6,1353,711

292, 66212, 188

3,473

23, 9462,556

127, 35585, 555

1 110, 396

140, 669201, 847

1 124, 362

145, 951239,269i 130, 554

57, 906142, 542i 54, 452

79,437 i192, 610

Novem-ber

i 114, 55242, 272

109, 60819,474

23, 61160

17, 869101, 91517, 746

36450, 669

279, 18864, 090

144, 127239, 636

9421

14.75

13, 8641,696

13, 63910, 16914,450

1.651.75

3,4881,718

343, 99711, 935

19,0433,488

86, 615110, Oil

* 93, 685

105, 523222,032

i 117, 750

106, 028228, 659

i 121, 985

45, 910153, 960146,778

78, 325206, 451

Decem-ber

14.75

1.651.75

1924

October

120, 08840, 120

123, 00819, 751

26, 29491

29,14273,60416, 535

92459, 496

312, 06144, 543

135, 806186, 977

11118

14.00

4,4044,0471,4627,821

9,526954

14, 82017, 1606,073

1.751.75

6,8063,211

333, 12115, 538

3,227

20J-4451,768

93,87888, 980

i 78, 578

105,497161, 474i 94, 583

114, 710215, 939i 99, 688

71, 508158, 351i 58, 291

79, 444206, 332

Novem-ber

109, 09639, 528

116, 72818, 356

27, 07889

22, 83373, 84610, 8391,620

45,840

319, 58549, 596

126, 945179, 225

9324

13.50

3,8823,2891,1707,910

10, 3741,106

13, 14110, 2898,928

1.751.75

3,0001,891

311, 17814, 390

2,416

17, 3271,946

75,07590, 012

* 78, 297

85, 790171, 999i 83, 685

91, 625228, 438i 93, 556

50, 716151, 675i 50, 175

64, 876174, 127

Decem-ber

101, 96820,456

119, 64019, 167

23, 00075

9,20785, 28311, 235

17644, 059

354, 47751, 162

118, 759202, 906

11748

13.50

3,8103,0421,1348,964

9,8611,022

10,4355,506

13, 913

1.681.75

6,9584,661

285, 46013, 287

3,363

17, 1792,257

73, 724104, 301

i 110, 347

83, 861196, 324

i 127, 240

99, 857251, 448

l 132, 658

46,983187, 812i 65, 669

89, 402254, 625

PER CENT IN-CREASE (+) ORDECREASE (— )

Novem-ber,1925,fromOcto-ber,1925

-13.2-4.9

-4.7-7.1

-18.4-18.9-37.3+2.4-6.7

-88.8-1.0

-8.9-25.6-16.5-8.7

-15.3+16.7

0.0

+12.3+5.5

-14.7-33.6+31.6

-2.90.0

-43.1-53.7

+17.5-2.1

-20.5+36.5

-32.0+28.6-15.1

-25.0+10.0-5.3

-27.4-4.4-6.6

-20.7+8.0

-14.1

-1.4+7.2

Novem-ber,

1925,from

Novem-ber,1924

+5.0+6.9

-6.1+6.1

-12.8-32.6

21 7+38.0+63.7-77.5+10.5

-12.6+29.2+13.5+33.7+1.1

-12.5+9.3

+33.6+53.3

+3.8-1.2

+61.9

-5.70.0

+16.3-9.1

+10.5-17.1

+9.9+79.2

+15.4+22.2+19.7

+23.0+29.1+40.7

+15.7+0.1

+30.4

-9.5+1.5-6.8

+20.7+18.6

CUMULATIVE TOTALFROM JANUARY 1THROUGH NOVEM-BER 30

1924

958, 420

957, 130148, 465

272, 434

242, 280

246, 58811, 304

1, 429, 524

8 43, 126s 37, 8205 12, 648

133, 38014, 434

138, 424140, 241

85, 18453,446

3, 204, 197162, 362

5 26, 794

191, 694

1, 073, 825

1, 074, 754

1, 239, 538

1, 148, 992

1, 344, 720

1, 253, 167

800, 917

722, 726

1935

970, 852

907, 456147, 647

312, 214

244, 562

261, 47914, 358

1, 764, 494

5 43, 479s 43, 6473 15, 710

153, 28218, 434

150, 4723 49, 789

98, 92461, 447

3, 113, 546135, 266

5 23, 773

227, 191

1, 232, 275

1, 292, 055

1, 419, 676

1, 465, 360

1, 435, 268

1, 479, 556

703, 083

650, 717

Percentin-

crease

or de-crease

1925from1924

+1.3

-5.2-0.6

+14.6

+0.9

+6.0+27.0

+23.4

+0.8+15.4+24.2

+14.9+27.7

+8.7+6.8

+16. 1+15.0

-2.8-16.7

-11.3

+18.5

+14.8

+20.2

+14.5

+27.5

+6.7

+18.1

-12.2

-10.0

1 Revised 'en months' cumulatives, Jan. 1 to Oct. 31, 1925, inclusive.

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38

TREND OF BUSINESS MOVEMENTS—Continued.

Where available December data havebeen included in this table. The cu-mulatives shown are in most instances,however, only through Novemberand, where designated by a footnote,through October. Earlier data foritems shown here may be found onpages 29 to 151 of the August, 1925,"Survey"

CHEMICALS AND OILS

Imports:Potash _ long tons _Nitrate of soda long tons

Exports:Sulphuric acid thous. of lbs_.Total fertilizer 1 long tonsDyes and dyestuffs —

Vegetable IbsCoal-tar Ibs

Price index numbers:Crude drugs index numberEssential oils . index numberDrugs and pharmaceuticals.index number..Chemicals index numberOils and fats index number

Price, sulphuric acid 66°N. Y dolls, per 100 Ibs

Wood Chemicals

Acetate of lime:Production thous. of IbsShipments or use thous. of Ibs..Stocks, end of month thous. of IbsExports thous. of IbsPrice, wholesale dolls per cwt

Methanol, crude: *Production gallonsShipments or use _ gallons..Stocks, producers', end of month.. gallons..Purchased by refiners * gallons. _Consumed by refiners * gallonsStocks at refineries, end of month e.gallons..Exports _ .gallons..Wholesale price, N. Y ..dolls, per gal...Canada —

Consumed .gallons..Stocks, end of month gallons..

Methanol, refined: «United States-

Produced gallonsStocks, end of month, at

refineries gallonsCanada-

Produced gallonsStocks, end of month gallons

Wood at chemical plants:Consumption (carbonized) cordsStocks end of month cords

Daily capacity, wood-chemical plants:Total in industry cordsReporting cordsShut down _ cords..

Ethyl Alcohol

Production ...thous. of gals..Wthdrawn for denaturation thous. of gals..Warehouse stocks, end of month, thous. of gals..

Explosives

(Black powder, permissibles, and other highexplosives)

Production thous. of IbsShipments thous. of IbsSales thous. of IbsStocks thous of Ibs

Naval Stores

Turpentine:Net receipts southern ports barrelsStocks, ports end of month barrels..Price, southern, in barrels,*

New York dolls per galRosin:

Net receipts, southern ports barrels..Stocks, ports end of month barrels..Price, common to good (B),«

New York dolls per bbl

Fats and Oils

Total vegetable oils:Exports thous. of IbsImports thous. of Ibs

Oleomargarine:Production thous. of IbsConsumption . ..thous. of Ibs. _

1925

Septem-ber

29, 45156, 764

478110, 558

235, 7962, 511, 898

196179158113156

.70

11, 114i 12, 335U5,084

1,3402.75

1534,412i 605, 09811,413,625

454, 391619, 182

1, 362, 18815, 320

.58

22, 18819, 889

509, 195

526, 176

21, 18540, 129

59, 144i 495, 043

4, 6393,668

507

19, 85918, 0218,913

35, 84435, 45433, 02017,335

34, 01348, 149

1.121

115, 023181, 940

14.19

3,92332, 057

19, 32820, 057

October

17, 45548, 587

38387, 568

333, 9861, 717, 766

195191158113158

.70

i 11, 094i 12, 224i 13, 587

4262.75

i 555, 629i 736, 592

11,237,299681, 985905, 952

1, 064, 36519, 558

.58

12,20036, 606

671, 808

515, 917

11, 50032, 443

i 58, 493i 476, 386

4,6393,668i 733

21, 54121, 624

7,411

33, 04933, 41432, 59416, 309

26,36748, 404

1.128

100, 264181, 613

15.88

8,18352, 179

25,94725, 612

Novem-ber

19, 64673, 892

40865, 260

306, 0671, 840, 426

191215157113156

.70

11, 20212, 01212, 8064,5713.00

566, 726685, 808

1, 146, 303597, 836809, 507856, 75110, 643

.58

40, 89533, 186

655, 541

495, 492

39, 20040, 846

60, 129444, 716

4,6393,668

721

31, 63833, 12731, 18114,958

18, 00145, 046

1.116

77, 491196, 939

15.94

9,63559, 534

26, 27524, 974

Decem-ber

113156

.70

3.13

.58

1.017

14.07

1924

October

30, 52570, 454

849102, 371

355, 1041, 079, 935

212142156110147

.70

9,80312, 04715, 259

1,3673.00

539, 333621,412

1, 551, 678

50, 901.69

57,624633, 428

4,8193,784

709

15, 96214, 5152,881

41, 03039, 23636, 55418, 194

26, 85841, 587

.880

92, 962228, 614

7.16

2,66940, 924

20, 05419, 217

Novem-ber

27, 86765, 664

84278, 366

224, 9631, 267, 978

222148157112151

.70

10, 32711, 69811,8903,5123.00

562, 828627, 586

1, 372, 786

42, 218.68

55, Oil538, 798

4,8193,712

581

16, 45216, 2111,975

33,97333, 59132, 51318, 355

24, 92451, 489

.851

105, 007228, 673

7.60

9,77055, 582

17, 06217, 115

Decem-ber

32,31659, 300

94891, 371

340, 2941, 021, 596

231153155112158

.70

10, 3179,026

13, 499980

3.00

526, 192596, 706

1, 315, 166

35, 310.68

55, 585527,802

4,8193,712

275

17, 93019,4231,350

31, 20831, 41130, 56918, 181

26, 18961, 379

.837

119,216256, 482

7.60

9,85353, 486

20, 13519, 997

PEE CENT IN-CREASE (+) ORDECREASE (— )

November,1925,fromOcto-ber,1925

+12.6+52.1

+6.5-25.5

-8.4+7.1

-2.1+12.6-0.6

0.0-1.3

0.0

+1.0-1.7-5.7

+9.1

+2.0-6.9-7.4

-12.3-10.6-19.5-45.6

0.0

+235. 2-9.3

-2.4

-4.0

+240. 9+25.9

+2.8-6.6

0.00.0

-1.6

-4.3-0.9-4.3-8.3

-31.7-6.9

-1.1

-22.7+8.4

+0.4

+ 17.7+14.1

+1.3-2.5

Novem-ber,1925,from

Novem-ber,1924

+29.5+12.5

-51.5-16.7

+36.1+45.1

-14.0+45.3

0.0+0.9+3.3

0.0

+8.5+2.7+7.7

+30.20.0

+0.7+9.3

-16.5

-74.8-14.7

+9.3-17.5

-3.7-1.2

+24.1

-6.9-1.4-4.1

-18.5

-27.8-12.5

+31.1

-26.2-13.9

+ 109.7

-1.4+7.1

+54.0+45.9

CUMULATIVE TOTALFROM JANUARY 1THROUGH NOVEM-BER 30

1924

196, 743925, 330

10, 324979, 224

2, 833, 31014, 691, 495

108,887108,807

22, 126

6, 371, 3976,501,661

605, 327

683, 344

s 126, 480« 95, 943

373, 673380, 665362, 138

284, 344

988, 327

39, 555758, 207

211, 400209, 875

1925

234, 1141, 071, 790

6,9551, 020, 962

3, 475, 23422, 796, 727

124, 880123,533

19, 069

6, 348, 4876, 582, 370

335,093

668, 795

5 153, 399« 137, 477

377, 921380, 681365, 027

271, 714

990, 273

59, 106594, 437

212, 596207, 750

Percentin-

crease(+)

or de-crease(-)1925from1924

+19. 0+15.8-

-32. a+4. a

+22.7+55. 2

+14. 7+13. 5

-13.8

-0.4+1.2

-44. 6

-2.1

+21. a+43. a

+1.10.0

+0.8.

-4.4

+0.2

+49.4-21. &

+0.6--1.0

i Revised.s See table on p. 17 of the October, 1925, issue for earlier data.

« Ten months' cumulatives, Jan. 1 to Oct. 31, 1925, inclusive.• See tables on p. 22 of the November, 1925, issue for earlier data.

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39

TREND OF BUSINESS MOVEMENTS—Continued

Where available December data havebeen included in this table. The cu-mulatives shown are in most instances,however, only through Novemberand, where designated by a footnote,through October. Earlier data foritems shown here may be found onpages 29 to 151 of the August, 1925,"Survey"

CHEMICALS AND OILS-Continued

Cottonseed

Cottonseed stocks, end of month tons_.Cottonseed oil:

Stocks, end of month thous. of lbs._Production thous. of lbs__Price, yellow, prime,

New York dolls, per lb_.

Flaxseed

Minneapolis and Duluth:Receipts.. . thous. of bushsShipments thous. of bushsStocks thous. of bushs..

Linseed oil: Shipments fromMinneapolis thous. of Ibs

Linseed-oil cake: Shipments fromMinneapolis thous. of Ibs .

FOODSTUFFS

Wheat

Production, monthly estimate: 6

Winter thous. of bushs..Spring. thous. of bushs..Total thous. of bushs..

Visible supply:United States .thous. of bushs..Canada. thous. of bushs. _

Eeceipts, principal markets. _ _ thous. of bushs..Shipments, prin. markets thous. of bushs..Exports:

United States-Wheat only. thous. of bushsIncluding wheat flour.thous. of bushs. _

Canada-Wheat only thous. of bushs

Prices:No. 1, northern, Chicago ..dolls per bush..No. 2, red winter, Chicago. dolls, per bush..

Wheat Flour

(Bureau of the Census)

Wheat, ground thous. of bushs..Production, wheat flour. _ .thous. of bbls..Production, grain offal i .thous. of lbs__Per cent of capacity operated per cent..

(Russell's Commercial news)

Production thous. of bbls. _Consumption thous. of bbls..Stocks, all positions, end mo.. .thous. of bbls..Exports (Department of Commerce):

United States thous. of bbls..Canada _ .thous. of bbls. _

Wholesale prices (Dept. Labor):Flour standard patents,

Minneapolis _ dolls, perbbl..Flour, winter straights,

Kansas City dolls, perbbl..

Canadian Milling

Gringings:Wheat thous. of bushs..Oats thous. of bushs. .

Production:Wheat flour thous. of bblsTotal oatmeal and rolled oats thous. of IbsOatmeal thous. of IbsRolled oats thous. of Ibs

Corn

Production, monthly est.6 thous. of bushs_.Exports, including meal thous. of bushsVisible supply thous. of bushsReceipts, principal markets. ..thous. of bushs..Shipments, prin. markets thous. of bushs..Grindings (starch, glucose) thous. of bushs...Prices, contract grades, No. 2,

Chicago dolls, per bush..

1935

Septem-ber

776, 017

55, 972142, 939

.107

5, 5931,9652,453

13, 840

24,916

415, 697283, 872699, 569

54, 54358, 36657, 86228, 151

9, 39112, 092

15, 876

1.5551.667

45, 9529,938

833, 27062

12, 50110, 7018,400

800661

8.310

7.431

7,1431,062

1,60115, 0432,451

12, 592

2,885,1081,2405,912

12, 5838,3185,902

.917

October

1, 270, 770

91,976232, 566

.099

5,5152,5933,302

17, 769

33,958

415, 697281, 575697, 272

49, 65176, 23936, 04524, 508

4,3548,910

41, 896

1.5491.635

i 49, 799i 10, 728

1907,39061

13,16512, 6557,900

1, 0121,022

8.263

7.410

10, 1811,197

2,30817, 7825,279

12, 503

2, 917, 8361,2922,209

12, 8818,6937,037

.828

Novem-ber

1,364,147

111, 333233, 637

.101

3,5223,5542,488

14,676

35, 190

415, 697281, 575697, 272

49, 774103, 58434, 12722, 324

4,6968,621

34, 840

1.6121.711

42,3229,108

766, 39257

10, 86910, 1017,800

8721,210

8.538

7.613

9,4991,257

2,12717, 7043,790

13, 914

3, 013, 3901,2103,077

18, 4567,6926,497

.841

Decem-ber

.106

1,378781

2,391

11, 848

32, 563

398, 486270, 879669, 365

55, 024119, 07734, 89722,448

1.7681.796

9.180

7.888

2, 900, 581

19, 09532, 18012, 131

.797

1924

October

873, 368

83, 497213, 659

.113

10, 2426,0972,455

18, 564

29, 281

96, 52852, 09988, 02272, 066

45, 12853, 538

14, 288

1.4861.528

51, 86311,371

977, 38165

13, 40411, 1079,100

1,8721,145

8.013

6.669

9,5581,097

2,14315, 9452,568

13, 377

7298,497

19, 51111, 8266,926

1.105

Novem-ber

11,190,920

i 106, 426i 224, 996

.110

8,4746,7922,096

17, 947

29, 572

105, 53376, 74060, 50350, 151

27, 83135, 102

26, 982

1.5291.574

41, 9829,187

719, 16459

11, 66511, 4687,700

1,616905

8.163

6.870

7,6441,218

1, 70816, 1993,703

12, 496

9328,072

15, 2237,1265,433

1.130

Decem-ber

1, 223, 863

105, 520209, 471

.114

2,0181, 5651,545

16, 825

31, 274

589, 632272, 995862, 627

96, 11479, 22136, 29332, 651

17, 79124, 326

29, 847

1.6871.769

40, 4288,855

695, 92553

11, 00710, 5556,700

1,452828

8.895

7.788

6,4731,134

1,44014, 4672,842

11, 625

2, 312, 745571

19, 69328, 9539,3655,520

1.233

PER CENT IN-CREASE (+) ORDECREASE (— )

Novem-ber,1925,fromOcto-ber,1925

+7.3

+21.0+0.5

+2.0

-36.1+37.1-24.7

-17.4

-3.6

+0.2+35.9-5.3-8.9

+7.9-3.2

16 8

+4.1+4.6

-15.0-15.1-15.5-6.5

-17.4-20.2-1.3

-13.8+18.4

+3.3

+2.7

-6.7+5.0

-7.8-0.6-0.4

+11.3

-6.3+39.3+43.3-11.5-7.7

+1.6

Novem-ber,1925,from

Novem-ber,1924

+14.5

+4.6+3.8

-8.2

-58.4-47.7+18.7

-18.2

+19.0

-32.4-0.8

-22.4

-52.8+35.0-43.6-55.5

-83.1-75.4

+29.1

+5.4+8.7

+0.8-0.9+6.6-3.4

-6.8-11.1+1.3

46.0+33.7

+4.6

+10.8

+24.3+3.2

+24.5+9.3+2.3

+11.3

+25.4+29.8-61.9+21.2+7.9

+19.6

-25.6

CUMULATIVE TOTALFROM JANUARY 1THROUGH NOVEM-BER 30

1924

941, 568

25, 51016, 693

114, 674

177, 161

454, 237326, 040

148, 512214, 282

184, 783

454, 89298, 457

8, 121, 959

121, 556106, 068

14, 57610, 648

82, 54011,498

18,491169, 87046, 910

122, 960

19, 595

249, 195159, 02869, 825

1925

1, 285, 800

21, 95311, 177

150, 599

258, 833

325, 023232, 739

88, 706131, 309

165, 337

436, 28594, 822

7, 668, 642

114, 413103, 396

10,1129,275

75, 4659,070

16, 826116, 92325, 51791, 406

10, 040

194, 463123, 00263, 775

Percentin-

crease(t)

or de-crease(-)1925from1924

+36.6

-13.9-33.0

+31.3

+46.1

-28.4-28.6

-40.3-38.7

-10.5

-4.1-3.7-5. a

-5.&2.5

-30.6-12.9-

-8.6-21.1

-9. 0-31. 2-45. 6-25.7

-48. 8.

-22. a-22. 7-8.7

i Revised.«Total crop estimated in month indicated. Data for a year ago represents revised final estimate of the 1924 crop.

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

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40

TREND OF BUSINESS MOVEMENTS—Continued

Where available December data havebeen included in this table. The cu-mulatives shown are in most instances,however, only through Novemberand, where designated by a footnote,through October. Earlier data foritems shown here may be found onpages 29 to 151 of the August, 1925,*'Survey"

FOODSTUFFS— Continued

Other GrainsOats:

Production, monthly est. 6 thous. of bushs__Receipts, principal

markets thous. of bushsVisible _ _ .thous. of bushs _.Exports, including meal thous. of bushsPrices, contract grades,

Chicago dolls, per bushBarley:

Production, monthly est.^ thous. of bushsReceipts, principal

markets thous. of bushsVisible supply thous. of bushsExports thous. of bushsPrice fair to good, malting,

Chicago dolls, per bushRye:

Production, monthly est.6 thous. of bushs..Receipts, principal ,

markets thous. of bushs _Exports, including flour.__ thous. of bushs..Price, No. 2, Chicago dolls, per bush _

Total Grains

Total grain exports, incl. flour. thous. of bushs. _

Bice

Production, monthly est.4 thous. of bushs..Southern paddy receipts at mills bblsShipments:

Total from mills pockets (100 Ibs.)New Orleans pockets (100 Ibs.)

Stocks end of month,mills and dealers pockets (100 Ibs.)

Imports pockets (100 Ibs.)Exports pockets (100 Ibs )

Other CropsApples:

Cold-storage holdings(end of month) thous of bbls

Car-lot shipments _ _ _ _ _ _ carloads. _Potatoes, car-lot shipments carloads..Onions, car-lot shipments _ . __ _ _ carloads. _Citrus fruits, car-lot suipments carloadsHay, receipts _ _ ._ tons _

Cattle and Calves

Cattle movement, primary markets:Receipts _ thousands _.Shipments total thousandsShipments stocker and feeder thousandsLocal slaughter thousands

Beef products:Inspected slaughter product thous of IbsApparent consumption thous. of Ibs

Exports thous of IbsCold-storage hofdings,

end of month thous. of IbsPrices, Chicago:

Cattle, corn-fed dolls, per 100 IbsBeef fresh native steers dolls- per IbBeef, steer rounds, No. 2 dolls, per lb__

Hogs and Pork

Hog movements, primary markets:Receipts - thousands.Shipments, total thousandsShipments, stocker and feeder. thousands. .Local slaughter thousands

Pork products, total:Inspected slaughter product, .thous. of Ibs. _Apparent consumption.. thous. of lbs_.Exports thous. of lbs__Cold-storage holdings, total,

end of month thous. of IbsFresh and cured in storage,

end of month thous. of IbsLard (included in pork products) :

Production _ .. _ _ _ _ thous. oflbs..Exports thous. of IbsCold-storage holdings,

end of month thous. of IbsPrices:

Hogs, heavy, Chicago.. .dolls, per 100lbs_.Hams, smoked, Chicago dolls, per lb_.Lard. Drime contract. N. Y. dolls. Per lb._

1925

Septem-ber

1, 461, 945

29, 24369, 9606,279

.398

226, 786

14, 9936,0369,103

.751

51, 768

6,6391,054.883

30, 668

35,284853, 380

619, 078135, 778

632, 44424,40913, 293

1,42219, 10322, 7633,9942,379

79, 516

2,157938422

1,227

473, 961469, 523

9,520

40, 719

12.44.185.173

2,7411,092

331,645

465, 179521, 474100, 152

539, 069

467, 443

84, 97260, 646

71, 626

12.88.292.178

October

1, 470, 384

18, 91869, 2164,744

.402

226, 786

6,4455,6423, 043

.743

51, 768

3,304127

.838

18, 116

35, 810925, 254

842, 366186, 218

751, 68018, 56828, 248

7,48941, 32432, 5455,1572,639

76, 687

2,7891,348

6971,450

569, 094556, 161

8,634

47, 481

11.91.185.160

3,3901,323

452,081

583, 564609, 66781, 321

1 429, 8611 392, 605

104, 28844, 745

37, 256

11.69.283.164

Novem-ber

1, 470, 384

14, 09468, 7392,443

.403

221, 713

4,7916,4222,493

.715

51, 968

2,59862

.857

14, 829

35, 8101, 130, 866

834,604172, 564

1, 090, 57123, 58641, 666

9,39819, 47815, 9802,9689,229

84,068

2,2821,017

4721,232

451, 396418, 176

7,8311 73, 564

10.58.178.143

3,8441,524

612,300

606, 705538, 59776, 418

1 418, 7371 385, 027

106, 20639, 979

33, 710

11.32.282.162

Decem-ber

1, 501, 909

15, 58266, 762

.422

218, 002

7,257

.716

48, 696

1.038

33, 959

204, 210

8,5027,244

11, 1251,5549,350

84, 725

10.04.170.131

515, 292

472, 337

147, 307

42, 955

10.88.280.150

1924

October

39, 14971, 1572,735

.522

12, 2965,2095,315

.908

17, 70810, 9271.275

73, 243

2, 182, 793

1, 303, 227300, 075

1, 567, 62111, 91889, 679

5,75835, 93732, 5244, 5454,185

95, 037

2,7371,339

7511,432

551, 766515, 746

16, 763

67, 244

9.50.172.136

3,9901,469

562,525

560, 043637, 521132, 686

439, 437

407, 731

106, 78160, 813

31, 706

10.78.216.165

Novem-ber

18, 62071, 9971,366

.524

7,2585,4842,710

.864

8,9321,3231.312

41,433

1, 905, 168

1, 300, 775339, 350

2, 265, 12114, 855

216, 418

7,74319, 04520, 1912,876

11, 30781, 001

2,3631,096

5491,267

463, 064415, 825

14, 417

100, 239

9.16.183.129

4,9041,760

403,132

668, 552550, 23591, 730

463,V233

427, 520

130, 18449, 120

35, 713

9.58.205.153

Decem-ber

1, 522, 665

19, 738* 76, 343

1,171

.598

178, 322

5,4055,4841,744

.935

64, 038

3,802856

1.404

28, 668

33, 249972, 700

933, 878151, 143

2, 346, 51427, 444

275, 318

6,6736,068

12, 75?1,869

11, 18774, 303

2,083816309

1,265

441, 160389, 108

9,329

142, 964

9.55.183.125

6,6042,271

384,335

912, 990544, 263120, 607

i 708, 413

647, 364

192, 59676, 803

61, 049

9.96.207.169

PER CENT IN-CREASE (+) ORDECREASE (— )

Novem-ber,1925,fromOcto-ber,1925

-25.5-0.7

—48.5

+0.2

-25.7+13.8-18. 1

-3.8

-21.4-51.2+2.3

-18.1

+22.2

-0.9-7.3

+45.1+27.0+47.5

+25.5-52.9-50.9-42. 4

+249. 7+9.6

-18.2-24.6-32.3-15.0

-20.7-24.8-9.3

+54.9

—11.2-3.8

-10.6

+13.4+15.2+35.6+10.5

+40-11.7-6.0

-2.6

-1.9

+1.8-10. 7

-9.5

-3.2-0.4-1.2

Nfovem-ber,1925,from

Novem-ber,1924

— 1.4

-24.3-4.5

+78.5

-23.1

+22.3

-34.0+17.2-8.0

-17.2

-24.0

-70.9-95.3-34.7

-64.2

+2.1-40.6

-35.8-49.1

-51.9+58.8-80.7

+21.4+2.3

-20.9+ 3.2

- 18.4+3.8

-3.4-7.2

-14.0-2.8

-2.5+0.6

-45.7

-26.6

+15.5-2.7

+10.9

-21.6-13.4+52. 5-26.6

-9,3-2.1

-16.7

-9.6

-9.9

-18.4-18.6

-5.6

+18.2+37.6+5.9

CUMULATIVE TOTALFROM JANUARY 1THROUGH NOVEM-BER 30

1924

244, 816

7,159

57, 078

15, 978

61, 16536, 124

293, 137

7, 516, 404

7, 362, 6371, 726, 206

353,2921, 272, 018

102, 040229, 380

28, 15191, 551

8 85, 770

21, 6138,8773,658

12, 584

4, 810, 8404, 675, 589

150, 106

48, 80917, 933

46030, 853

7, 737, 3546, 421, 7431, 574, 856

1, 737, 594867, 210

1935

218, 567

34, 837

61, 835

27, 619

27, 62228,804

234, 468

4, 247, 267

5, 692, 1711, 403, 118

608, 510584, 865

103, 184223, 893

27, 88778,236

785, 790

22, 0128,6033,459

13, 214

4, 954, 6474, 906, 827

114, 641

39, 54914,648

49524, 889

6, S^o, 0556, 017, 2061, 109, 641

1, 322, 725617, 969

Percentin-

crease(+)

or de-crease(-)1925from1924

-10.7

+386. 6

+8.3

+72.9

-54.8-20.3

-20.0

-43.5

-22.7-18.7

+72.254 0

+1.1-2.4-0.9

-14.5-11.3

+1.8-3.1-5.4+5.0

+3.0+4.9

-23.2

-19.0-18.3+7.6

-19.3

-15.0-6.3

-29.5

-23.8-28.7

i1

1 Revised. « Total crop estimated in month indicated. Data for a year ago represent revised final estimate of the 1924 crop.

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41

TREND OF BUSINESS MOVEMENTS—Continued

Where available December data havebeen included in this table. The cu-mulatives shown are in most instances,however, only through Novemberand, where designated by a footnote,through October. Earlier data foritems shown here may be found onpages 29 to 151 of the August , 1925,"Survey"

FOODSTUFFS— Continued

Sheep and Lambs

Sheep movement, primary markets:Receipts - - thousandsShipments, total thousands--Shipments, stocker and feeder thousandsLocal slaughter thousands

Lamb and mutton:Inspected slaughter product.thous. of lbs_-Apparent consumption thous. of lbs_-Cold-storage holdings,

end of month. _ _. . thous oflbsPrices:

Sheep, ewes, Chicago. ..dolls, per 100 lbs._Sheep, lambs, Chicago .dolls, per 100 Ibs

Total Meats

Production, inspected slaughter, thous. oflbsCold-storage holdings, end mo._thous. of lbs_.Apparent consumption -thous. oflbs

Poultry

Receipts at five markets thous. of lbs._Cold-storage holdings,

end of month thous. oflbs

Fish

Total catch, prin. fishing ports.. thous. of Ibs. .Cold-storage holdings, 15th of mo .thous. of lbs_.Canned salmon, shipments cases. -

Dairy ProductsButter:

Receipts, 5 markets thous. of lbs_.Cold-storage holdings,

creamery, end of month thous. of lbs__Apparent consumption thous. of lbs_.Wholesale price, 5 markets... dolls, per lb__

Cheese:Receipts, 5 markets thous. of Ibs. .Cold-storage holdings,

American, end of month thous. of Ibs. _Wholesale price, 5 markets dolls, per Ib

Eggs:Receipts, 5 markets thous. of casesCold-storage holdings thous. of cases..

MilkCondensed milk:

Manufacturers' total stocks —Case goods..,. thous. of lbs__Bulk goods ___thous. oflbs..

Manufacturers' unsold stock-Case goods . thous of IbsBulk goods thous. of lbs_.

Exports thous. of IbsWholesale price, New York*. dolls, per case-

Evaporated milk:Manufacturers' total stocks,

case goods thous. of lbs__Manufacturers' unsold stocks-

Case goods _ thous. of lbs_-Exports thous. of lbs_.Wholesale price, New York*. dolls, per case_.

Powdered milk:Sales, less resales1 __thous. of lbs_.Manufacturers' total stocks*—

Case goods thous. of lbs._Bulk goods thous. of lbs._

Manufacturers' unsold stocks*—Case goods thous. of lbs._Bulk goods thous. of lbs_.

Exports thous. oflbs .Fluid milk:

Receipts-Boston (includ. cream) thous. of qts_.Greater New York .... thous. of cansProduction —

Minneapolis district (excludingcream) thous. of lbs_.

Minneapolis district(cream) thous, of Ibs..

1925

Septem-ber

2,6271,613

839981

41, 11741, 584

1,112

6.1915.09

980,257580, 900

1, 032, 579

18, 804

44,345

28,18455, 447

1,205,930

45,005

114, 172* 172, 328

.488

20, 520

78, 582.241

9308,612

42, 2087,340

33, 8883,3462,3485.88

157, 381

121, 74513,339

4.49

3,636

5278,289

5275,607

392

16, 3052,647

18, 322

290

October

3,1982,2871,338

945

41, 70140, 537

1,435

6.4114.81

1, 194, 359478, 777

1, 169, 154

27,507

53, 787

21, 18658, 358

1, 370, 878

43,468

94,916163,609

.514

21,029

71, 913.252

7096,322

34, 79216,370

28,489i 3, 210

4,5526.03

144,010

108, 1855,7714,49

3,482

46516,931

465l 4, 169

201

16, 2772,587

19, 417

290

Novem-ber

1,712927460793

34, 04933,609

1,549

6.7915.25

1, 092, 150i 493, 850

990, 382

62,272

86, 733

15, 17461, 822

503, 149

35, 455

174,754140, 254

.511

17, 059

i 66, 495.254

4333, 786

29, 6854,493

24, 1802,1823,3166.03

131, 199

103, 7004,6544.49

4265,832

4263,186

376

15, 6492,496

Decem-ber

1,825

8.0615.94

601, 842

68,385

111, 459

36, 199

52,708

14,012

58, 548

6251,677

6.04

4.54

1934

October

3,2952,2671,4411,020

43, 56642,847

3,166

5.8113.44

1, 155, 375509, 84T

1, 196, 114

27,263

55, 139

20,21567, 025

1, 085, 539

41,949

135, 018161, 158

.385

17,479

67, 905.197

7475,267

18, 07013,974

13, 2826,3306,2655.85

147, 596

112, 55316, 335

3.89

3,496

31911, 827

3199,3671,262

15, 5062,550

18, 038

305

Novem-ber

1,8791,154

676540

35, 80135, 600

3,326

6.3313.34

1, 167, 417566, 798

1, 001, 660

61, 784

87, 939

14, 04070, 406

687,168

30, 161

100, 832148, 757

.418

14, 883

58, 705.202

4563,102

14,60411, 802

10, 6506,2124,3065.85

133, 093

100, 63910, 818

3.92

2,969

1808,805

1806,0291,260

14,9262,403

17, 303

274

Decem-ber

1,605750206854

32, 80333, 106

2,949

7.5815.98

1, 386, 953i 854, 056

966, 477

79, 368

133,990

12, 35368,325

614, 164

33, 155

65, 694156, 398

.440

14, 921

49, 187.221

5241,050

11,8309,161

2,1494,1683,0965.87

102, 337

40, 0327,7663.99

4,087

2148,017

2065,259

487

14, 7012,434

19, 757

375

PER CENT IN-CREASE (-{-) ORDECREASE (— )

Novem-ber,1925,fromOcto-ber,1925

-46.5-59.5-65.6—16.1

-18.3-17.1

+17.8

+5.9+3.0

-8.6+3.1

-15.3

+126.4

+61.3

-28.4+5.9

-63.3

-18. 4

-18.4-14.3-0.6

-18.9

-7.5+0.8

-38.9-40.2

-14.7-29.5

-15.1-32.0-27.2

0.0

-8.9

—4.119.4

-8.4-15.9

-8.4-23.6+87.1

-3.9-3.5

Novem-ber,1925,from

Novem-ber,1924

-8.9-19.7-32.0+46.9

-4.9-5.6

-45.1

+7.3+14.3

-6.4-12. 7-1.1

-0.8

-1.4

+8.1-12.2-26.8

+17.6

-25.9-5.7

+22.2

+14.6

+13.3+25.7

-5.0+21.9

+103. 3-61.9

+127. 0-64.9-23.0+3.1

—1.4

+3.0-57.0

+136. 1-33.8

+136. 1-47.4-70.2

+4.8+3.9

CUMULATIVE TOTALFROM JANUARY 1THROUGH NOVEM-PER 30

1924

20,59611, 0434,4749,310

417, 676428,028

12, 965, 870

11, 514, 317

283, 817

191, 703

5, 887, 264

554,322

1, 777, 704

200,131

14,880

60, 874

134, 276

40, 818

5,042

176,462«27,463

214, 994

84,847

1925

20,49210, 8444,0209,560

428,008416, 985

11, 957, 710

12, 161, 749

252,412

229,410

5, 936, 196

535, 799

1,759,621

207,841

14,851

38, 503

99, 484

40, 765

3,405

182, 23429, 539

• 235, 065

«4,384

Percentin-

crease(-t}or de-

crease

&from1924

+0.5-1.8

-10.1+2.7

+2.5-2.6

-7.8

+5.6

-11.1

+19.7

+0.8

-3.3

-1.0

+3.9

-0.2

-36.7

-25.9

-0.1

—32.5

+3.3+7.6

+9.3

-9.5

i Revised.« Ten months' cumulatives, Jan. 1 to Oct. 31, 1924, inclusive.* See table on p. 21 of the December, 1925, issue for earlier data

i See p. 26 of the October, 1925, issue for earlier data.*See p. 23 of the November, 1925, issue, for earlier data.• See table on p. 22 of the December, 1925, issue for earlier data.

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42

TREND OF BUSINESS MOVEMENTS—Continued.

Where available December data havebeen included in this table. The cu-mulatives shown are in most instances,however, only through Novemberand, where designated by a footnote,through October. Earlier data foritems shown here may be found onpages 29 to 151 of the August, 1925,"Survey"

FOODSTUFFS— Continued

SugarRaw:

Imports longtons..Meltings, 8 ports long tonsStocks at refineries

(end of month) _ _ _. long tons. _Receipts, domestic, at New Orleans .long tons..Refined, exports . _ long tons. .Prices:

Wholesale, 96° centrifugal,N. Y dolls, per Ib .

Wholesale, granulated, N. Y._dolls. per lb_.Retail, granulated, N. Y dolls, per lb_.Retail, average, 51 cities index number. .

Cuban movement:Receipts at Cuban ports long tons..Exports long tonsStocks, end of month long tons..

CoffeeImports . . . thous. of Ibs. .Visible supply:

World _ thous. of bags. _United States thous. of bags..

Receipts, total, Brazil thous. of bags..•Clearances:

Total, Brazil, for world thous. of bags..Total, Brazil, for U. S thous. of bags..

TeaiTnports thovis of Ibs

TOBACCO

Consumption (tax-paid withdrawals) :Large cigars . millions. _Small cigarettes millions..Manufactured tobacco

and snuff thous. of IbsExports:

Unmanufactured leaf. .thous. of lbs_.Cigarettes millions

Production (crop estimate) • thous. of Ibs..Sales of loose-leaf, warehouses _ _ thous. of lbs__Price, wholesale, Burley good leaf,

dark red, Louisville dolls, per 100 lbs__

TRANSPORTATION

River and Canal Cargo Traffic

Panama Canal:Total cargo traffic thous. of long tons.In American vessels, thous. of long tons..In British vessels thous. of long tonsCanals—

Sault Ste. Marie__ thous. of short tons..Suez thous of metric tons

Mississippi River—Government-owned barges tons. .

Ohio River, Pittsburgh, Pa., toWheeling, W. Va short tons

Ocean Traffic

Clearances, vessels in foreign trade:Total.. thous. of net tons..American. thous. of net tonsForeign thous. of net tons..

Freight rates, liners, Atlantic ports to Europe-index no. (relative to January, 1920)

Vessel construction:Completed during month —

Total . gross tonsSteel seagoing gross tons. _

Building or under contract, end of mo. —Merchant vessels. _thou. of gross tons..

Freight Cars

Surplus (daily av. last week of month):Box. number..Coal ... . _ numberTotal _ number. _

1935

Septem-ber

321, 620459, 875

187, 739None.40, 624

.043

.054

.062

.127

158, 009371,200

. 594,378

133, 463

5,087716

1,494

1, 434705

11, 993

5767,119

36, 154

50, 694336

1,247,01191, 682

25.00

1,892983476

10, 9042,087

46, 070

668, 392

6,2392,4503,789

26.2

21, 75817, 191

162

58, 20361, 370

140, 842

October

240, 100385, 647

94,511835

2], 614

.039

.050

.059

.124

125, 012281,210460, 709

111, 920

5,082583

1,262

1,536680

13, 088

7116,925

38, 061

52, 784488

1,228,97298, 657

25.00

2,009968626

11, 6372,135

67, 627

739, 635

6,5722,9913, 581

27.7

17,51612, 210

170

49, 50242, 949

111,619

Novem-ber

220, 184262, 894

92, 70925, 24819, 131

.040

.051

.058

.120

88, 119262, 855292, 119

115, 225

5,035789

1,144

1,269758

11, 067

5986,517

30,342

51, 141500

1, 264, 226112, 615

25.00

2,023

8,409

47, 000

603, 125

5,6712,4513,220

27.5

9,8443,283

186

58, 46343, 658

136, 796

Decem-ber

349, 139

120, 14627, 583

.041

.053

181, 448327, 298132, 148

5,080880

1,187

1,195731

1, 349, 660

25.00

1,838

13, 0969,339

1924

October

242, 353344, 404

66, 522163

5,388

.060

.073

.081

.160

85, 762194, 683145, 422

133, 497

5,734772

1,536

1,730827

11, 794

6356,488

38, 043

56, 821697

83, 090

24.50

2,0181,057

515

10, 3282,206

57, 604

714, 421

6,8032,9223,881

28.1

11,4146,665

177

1 30, 48649, 058

1 99, 190

Novem-ber

155, 161221, 836

32, 17214, 0571,843

.058

.073

.082

.160

43, 574148, 98741, 460

116, 349

5,661803

1,249

1,210668

10,751

6015,356

30, 210

45, 722839

66, 854

24.50

1,962972515

6,6192,407

39, 603

795, 527

5,6992,6333,066

28.1

12, 6508,651

184

73, 54782, 819

183, 914

Decem-ber

134, 073151, 541

49, 39337,812

863

.053

.072

.080

.160

101, 126109, 02023, 850

114, 113

5,388611980

923530

8,688

5115,442

28, 571

44, 545838

1, 242, 45671, 676

24.50

2,2661,266

524

1,6792,228

54, 229

564, 578

4,8852,0732,812

26.8

15, 16711, 690

183

117,434108, 189266, 252

PER CENT IN-CREASE (+) ORDECREASE ( — )

Novem-ber,1925,fromOcto-ber,1925

-8.3-31.8

-1.90)

-11.5

+2.6+2.0-1.7-3.2

-29.5-6.5

-36.6

+3.0

-0.9+35.3-9.4

-17.4+11.5

-15.4

-15.9-5.9

-29.3

-3.1+2.5

+14.1

0.0

+0.7

-27.7+2.3

-30.5

-18.5

-13.7-18.1-10. 1

-0.7

—43. 8-73.1

+9.4

+18.1+1.7

+22.6

Novem-ber,1925,from

Novem-ber,1924

+41.9+18.5

+188. 2+79.6+3.8

-31.0-30.1-29.3-25.0

+102. 2+76.4

+604.6

-1.0

-11.1-1.7-8.4

+4.9+13.5

+2.9

-0.5+21.7

+0.4

+11.9-40.4+8.6

+68.4

+2.0

+3.1

+27.0-3.2

+18.7

-24.2

-0.5-6.9+5.0

-2.1

-22.2-62.1

+1.2

-20.5-47.3-25.6

CUMULATIVE TOTALFROM JANUARY 1THROUGH NOVEM-BER 30

1934

3,541,1164, 395, 708

41, 394195,711

3, 889, 5183, 875, 404

1, 302, 456

13, 248

12, 9646,459

83, 718

6,14765, 566

384, 104

531, 5209,754

412, 450

23,6265 12, 427

6 5, 313

71, 3596 20, 824

795, 274

5, 717, 392

63, 93827, 96535, 973

194, 919119, 159

1935

|1

3,768,6854, 763, 766 <

31, 838328, 013

4,861,4044, 614, 219

1, 154, 616

10, 624

12, 0686,346

90, 778

6,02773, 708

381, 670

402, 0237,203

507, 809

21, 3438 10, 358

s 4, 913

80, 0375 22, 378

844, 801

6, 220, 906

64, 91625, 94438, 972

198, 041123, 480

Percentin-

crease(t}

or de-crease

1925from192,4

+6.4+8.4

-23.6+67.1

+25.0+19.1

-11.4

-19.8

-6.9-1.7

+8.4

-2.0+12.4

-0.6

-24.4-26.2

+23.1

-9.7-16.6-7.5

+12.2+7.5

+6.2

+8.9

+1.5-7.2+8.3

+1.6+3.6

|

i Revised.6 Ten months' cumulatives, Jan. 1 to Oct. 31, 1925, inclusive.6 Total crop estimated in month indicated. Data for a year ago represents revised final estimate of the 1924 crop.

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43

TREND OF BUSINESS MOVEMENTS—Continued

Where available December data havebeen included in this table. The cu-mulatives shown are in most instances,however, only through Novemberand, where designated by a footnote,through October. Earlier data foritems shown here may be found onpages 29 to 151 of the August, 1925,"Survey"

TRANSPORTATION-Continued

Freight Cars— Continued

Shortage (daily av. last week of month):Box _ numberCoal numberTotal number

Car loadings (monthly totals) :Total thous. of cars._Grain and grain products thous. of cars._Livestock thous. of cars__Coal and coke thous. of cars..Forest products thous. of cars..Ore thous of carsMerchandise and 1. c. 1 _thous. of cars..Miscellaneous thous. of cars

Cars in bad order:Total, end of month carsRatio to total on line per cent..

Railroad OperationsRevenue:

Freight _ thous. of dollsPassenger thous. of dollsTotal operating thous of dolls

Operating expenses thous. of dollsNet operating income tbous of dollsFreight carried.. mills, ton-milesPullman company operations:

Revenue . thous. of dollsExpenses thous of dollsPassengers carried thousands

Locomotives in bad order:Total, end of month numberPer cent of total in use per cent

Equipment Installations

Locomotives (Am. Ry. Assn.):Owned (end of month) number

Tractive power mills of IbsInstalled during month numberRetired during month _ number .Ordered from manufacturers numberShipments by manufacturers:

Total numberDomestic. . . number

Unfilled orders, manufacturers':Total numberDomestic number

Building in railroad shops(end of month) number

Exports . numberFreight cars (Am. Ry. Assn.):

Owned (end of month) numberCapacity mills, of Ibs

Installed during month numberRetired during month number.Ordered from manufacturers numberShipments by manufacturers (I. C. C.):

Total numberDomestic number

Unfilled orders by manufacturers (I. C. C.) :Total numberDomestic numberBuilding in railroad shops

Passenger cars:Ordered from manufacturers number. _Shipments by manufacturers (I. C. C.):

jTotal numberDomestic number

Unfilled orders (I. C. C.):Total numberDompstic number

Passenger Travel

National parks:Visitors numberAutomobiles entered number

Arrivals from abroad:Aliens numberUnited States citizens number

Departures abroad:Aliens numberUnited States citizens number. _

PassDorts issued _ _ number..

1925

Septem-ber

364153558

4, 297210131731279230

1,0461,670

179, 5717.7

419,64395, 705

565, 452388, 096134, 58541, 322

7,4095,1903,385

10, 64316.5

64, 2572,596

12922986

9450

363296

3722

2, 363, 637211, 201

8,1619,1966,113

5,4055,319

12, 14811,412

6,246

37

6758

612593

184, 27917, 361

26, 72168, 500

7,20024, 3698,795

October

153495

2,957

5, 537232212996352248

1,3532,144

165, 4817.1

450, 49386, 464

591, 313410, 352137, 70044, 062

6,8185,8413,039

10, 23316.1

64, 1422,595

150266199

7954

497397

3356

2, 359, 124210,922

' 5, 097' 9, 616

5,556

2,8492,492

16, 35415, 869

7,189

134

6666

569550

36, 5242,462

28, 68535, 413

7,67424, 2278.012

Novem-ber

104200357

4,095195140799265132

1,0351,528

165, 8187.2

402, 41181, 095

532,827384, 514106, 94340, 786

6,0525,4922,742

10, 72516.9

63,8692,589

112394101

9852

548448

3238

2, 353, 454200, 590

4,2999,948

13, 598

87

26, 64223, 118

6, 55518, 0397,776

Decem-ber

3,69920613175725848

9751,325

10486

763628

8,172

1924

October

784785

1,656

5,455339206

1,001353213

1,2902,051

190, 5438.2

439, 04282, 886

572, 872404, 038127, 22343, 134

6,0055,0762,773

11,09517.2

64, 9642,586

113220148

9678

462398

7637

2, 342, 149207, 366

16, 59810, 50412, 610

8,8398,449

38, 39136, 560

3,574

244

9690

486479

47, 5712,585

27, 40231, 474

8,94119, 9517,906

Novem-ber

166133354

3,90221915977227672

9811,423

189, 1408.2

1380,992i 78, 791

1505,889i 374, 410193,396138,067

5,2425,2442,509

11, 57418.0

64, 8822,587

18126399

133123

397331

7029

2,342,479207, 53511, 70510, 67813, 870

6,3825,938

45, 36943, 937

5,159

279

9998

502496

37, 1421,953

29, 34522, 297

8,6 514, 7417,894

Decem-ber

2730

101

3,47518714875225239

9281,167

1 90, 9798.3

362, 36890, 845

505, 253381, 41586, 98834, 998

5,8875,4702,719

11, 26617.5

64, 8712,589

205304189

142132

431358

6425

2, 337, 229207, 172

6,76311,91810, 240

5,6615,365

46, 50845, 325

6,478

235

7979

512507

\28, 399

927

28, 09817, 219

14, 28817, 3887,575

PER CENT IN-CREASE (+) ORDECREASE (— )

Novem-ber,1925,fromOcto-ber,1925

-32.0-59.6-87.9

-26.0-15.9-34.0-19.8-24.7-46.8-23.5—28.7

+0.2+1.4

-10.7-6.2-9.9-6.3

-22.3-7.4

-11.2-5.0-9.8

+4.8+5.0

-0.4-0.2

-25.3+48. 1-49.2

+24.1-3.7

+10.3+12.8

-3.0-32.1

—0 2-4.9

-15.7+3.5

+144. 7

—35.1

-7.1-34.7

-14.6-25.5-2.9

Novem-ber,1925,from

Novem-ber,1924

-37.3+50.4+0.8

+4.9-11.0-11.9+3.5-4.0

+83.3+5.5+7.4

-12,3-12.2

+5.6+2.9+5.3+2.7

+14. 5+7.1

+15.5+4.7+9.3

-7.3-6.1

-1.6-0.1

-38.1+49.8+2.0

-26.3-57.7

+38.0+35.3

-54.3+31.0

+0 5

-63*. 2-6.8-2.0

-68.8

-9.2+3.7

-23.8+22.4-1.5

CUMULATIVE TOTALFROM JANUARY 1THROUGH NOVEM-BER 30

1924

45, 0562,3831,6058,3003,4131,640

11, 59216, 123

3,986,819985, 838

5,482,4864,178,280

900,063394, 618

66, 87156, 14031, 369

1,9511,8441,228

1,3231,188

295

141, 156104, 719132, 551

70, 16269, 318

2, 323

935882

5 1,529, 285« 189, 150

326, 672304, 846

75, 833284, 260138, 803

1925

47, 4792,0961, £038,7333,4851,970

12, 19517,497

4, 173, 560963,916

5, 662, 6014, 193, 6051, 041, 990

418,393

73, 51757, 72832, 657

1,6042,626

809

1,023727

325

121, 374106, 40964, 551

70, 37766,783

1, 068

734692

51,602,024s 193, 092

269, 636348, 578

72, 849323, 560163, 927

Percentin-

crease(+)

or de-crease(-)1925from1924

+5.4-12.0-6.4+5.2+2.1

+20.1+5.2+8.5

+4.7-2.2+3.3+0.4

+15.8+6.0

+9.9+2.8+4.1

-15.4+42.4-34.1

-22.7-38.8

+10.2

-14.0+1.6

-51.3

+0.3-3.7

-54.0

-21.5-21.5

+4.8+2.1

-17.5+14.3

-3.1+13.8+19.8

Ten months' cumulatives, Jan. 1 to Oct. 31, 1925, inclusive.

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44

TREND OF BUSINESS MOVEMENTS—Continued

Where available December data havebeen included in this table. The cu-mulatives shown are in most instances,however, only through Novemberand, where designated by a footnote,through October. Earlier data foritems shown here may be found onpages 29 to 151 of the August, 1925,"Survey"

PUBLIC UTILITIES

Telephone companies:Operating revenues thous of dollsOperating income thous. of dolls

Telegraph companies:Commercial telegraph tolls.thous. of dolls. _Operating revenue thous. of dollsOperating income thous. of dollsGross revenue sales _ thous. of dolls. .

Electric railways (213 companies) :Passengers carried „ thous. of persons-

Electric power:Production —

Total mills of kw. hoursBy water power _. .mills, of kw. hours. _By fuels.. mills, of kw. hours. .In street rys. mgf.

plants, etc mills, of kw. hours..Central stations mills, of kw. hours. ..

EMPLOYMENT AND WAGES

Employment in factories:New York State thousandsDetroit . . ._ thousandsNew Jersey (rel. to 1923) . . .index number _.Pennsylvania (rel. to 1923)..index number--Delaware (rel. to 1923) index number..Wisconsin {rel to 1915) index numberIllinois (rel to 1922) index numberMassachusetts (rel. to 1914) .index number. .

Total payroll:New York State thous of dollsWisconsin (rel. to 1915) index number..New Jersey (rel. to 1923) -_ .index number..Pennsylvania (rel. to 1923) .index number. _Delaware (rel. to 1923) index number. _

Federal civilian employees, Wash-ington D C number

Average weekly earnings (State reports) :New York State dollsIllinois (rel. to 1922) index number..Wisconsin (rel to 1915) index numberMassachusetts (rel. to 1914) .index number..New Jersey (rel. to 1923) .. .index number. _Pennsylvania (rel. to 1923) .index number..Delaware (rel. to 1923) index number

Average weekly earnings (National IndustrialConference Board):

Grand total (both sexes) dollarsTotal male dollarsSkilled male dollarsUnskilled male dollarsTotal women dollars

Average weekly hours:Nominal (both sexes) hoursActual (both sexes) hours

Wages of common labor by geographic divisions:New England cents per hourIVIiddle Atlantic cents per hourSouth Atlantic cents per hourEast South Central cents per hourWest South Central cents per hourEast North Central cents per hour"West North Central cents per hourWest North Central cents per hourMountain cents per hourPacific cents per hourTJnited States average cents per hourWage rates, U. S. Steel

Corporation cents per hourEmployment agency operations:

Applicants per job —United States average number..Eastern States numberCentral States numberSouthern States numberWestern States number _ .

1935

Septem-ber

54, 95513, 373

11, 30613, 7842,211

117,200

750, 236

i 5, 4901,607

1 3, 883

365i 5, 125

500258919079

123.997.889.9

14, 150286.7

898378

62,519

28.32107.6231.1186.5

989596

26.9429.2730.8923.4817.00

50.048.3

4644302526383838455338

40

1.05.87

1.37.89.59

October

57, 92515, 034

11, 67814, 4082,342

128, 800

811, 295

i 5, 936i 1, 797i 4, 139

398i 5, 534

510267929278

123.398.692.2

14, 559297.6

959082

62, 039

28.57115.3241.0189.9

103101102

27.1229.5131.2023.6617.13

50.048.3

4646252528363737465338

40

1.441.131.44.93.59

Novem-ber

779, 672

5,7721,9283,845

3955,378

513264939278

122.699.393.1

14,700288.1

969684

61, 753

28.67115.2234.7187.8

10399

104

4645272529363737465238

40

1.271.191.491.19.66

Decem-ber

129

40

1924

October

50, 93112, 748

9, 94012, 3891, 993

111, 200

791, 485

5, 1931, 6323, 560

3704, 823

495195888776

114.896.190.4

13, 632262.2

868380

64, 794

27.53112.0227.8208.9

9997

103

26.4528.4430.2122.6017.36

49.647.1

4741302427403838425338

40

1.291.121.651.22.59

Novem-ber

50, 06112, 099

8,77610, 0531,478

120, 200

756, 802

5,0651, 5593,492

3734,692

495197888778

116.295.790.8

13, 700263.2

888378

64,740

27.66111.8226.2188.0

1019797

26.4128.3730.8422.8417.21

49.747.1

4641282528413737415238

40

1.411.221.741.27.71

Decem-ber

52, 14512, 131

9,99912, 2851,811

131,7 0

5,5371,7493,788

4355,102

49995898979

116.497.691.3

14, 101267.1

909089

66, 079

28.26114.8229.1190.1

101103110

26. 8528.9030.6523.0817.18

49.847.1

4743272327393737415237

40

1.521.311.951.38.66

PER CENT IN-CREASE (+) ORDECREASE (— )

Novem-ber,1925,fromOcto-ber,1925

Novem-ber,1925,from

Novem-ber,1924

-3.9

-2.8+7.3-7.1

-0.8-2.8

+0.6-1.0+1.1

0.00.0

-0.6+0.6+1.0

+1.0-3.2+1.1+6.7+2.4

-0.5

+0.4-0.1-2.6-1.1

0.0-2.0+2.0

+3.0

+14.0+23.7+15.7

+5.9+14.6

+3.6+34.0+5.7+5.7

0.0+5.5+3.8+2.5

+7.3+9.5+9.1

+15.7+7.7

-4.6

+3.7+3.0+3.8-0.5+2.0+2.1+7.2

0.0-2.2+8.0-0.0+3.6

0.00.00.00.0

-1.90.0

0.0

-11.8+5.3+3.5

+28.0+11.9

0.0+9.8-3.6

0.0+3.6

-12.20.00.0

+12.20.00.0

0.0

-9.9-2.5

-14.4-6.3-7.0

CUMULATIVE TOTALFROM JANUARY 1THROUGH NOVEM-BER 30

1924

5 478, 743s 102, 427

s 90, 2436 112, 177

* 15, 2925 1,103, 730

8, 624, 159

53, 50418, 27235, 219

1925

5 536, 0036 127, 839

5 102, 0335 125, 414

5 18, 2375 1,183,776

8, 577, 295

59,46920, 33839, 132

Percentin-

crease(+)

or de-crease

1925from1924

+12. 0+24. 8-

+13.1+11.8-+19.3+7.3.

-0. 5

+11. 1+11. a.+11.1

i Revised.

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45

TREND OF BUSINESS MOVEMENTS—Continued

Where available December data havebeen included in this table. The cu-mulatives shown are in most instances,however, only through Novemberand, where designated by a footnote,through October. Earlier data foritems shown here may be found onpages 29 to 151 of the August, 1925,"Survey"

DISTRIBUTION MOVEMENT

Mail-order houses:Total sales - -thous. of dolls..Sears, Roebuck & Co thous. of dolls..Montgomery Ward & Co.. thous. of dolls..

Ten-cent stores:Total sales -thous. of dolls..Total stores _ _ . .number. .F. W. Woolworth & Co thous. of dolls..

Number of stores operatedS. S. Kresge Co thous. of dolls..

Number of stores operatedMcCrory Stores Corp. thous. of dolls..

Number of stores operatedS. H. Kress & Co thous. of dolls..

Number of stores operatedRestaurant chains:

Total sales _ -thous. of dolls ..Total stores number..Childs Co., sales ..thous. of dolls..Waldorf System (Inc.),

sales thous. of dolls..Chain stores:

J. C. Penney Co thous. of dolls..Number of stores

United Cigar Stores Co thous. of dolls..Number of stores

A. Schulte (Inc.) thous. of dolls..Number of stores

Owl Drug Co thous. of dolls .Number of stores

Magazine advertising thous. of lines .Newspaper advertising thous. of linesNational advertising in newspapers :h

Total thous. of lines..Automobile advertising thous. of lines..Automobile accessories thous. of lines..Cigars, cigarettes, and

tobacco thous. of lines..Financial. thous. of lines..Food, groceries, beverages. .thous, of lines..Hotels and resorts thous. of lines..Household furniture thous. of lines..Men's clothing thous. of lines..Musical instruments thous. of dolls..Radio and electrical thous. of lines. _Railroads and steamships thous. of lines .Shoes. . _ thous. of lines. .Toilet articles and medical

preparations thous. of lines..Women's wear thous. of lines ..Miscellaneous thous. of lines..

Postal receipts, 50 selectedcities.. thous. of dolls..

Postal receipts, 50 industrialcities thous. of dolls..

Money orders:Domestic paid (50 cities)—

Quantity __ ...numberValue _ thous. of dolls

Domestic issued (50 cities) —Quantity .number..

Value thous. of dolls..Delinquent accounts, electrical trade:

Amount dollarsNumber of firms _. .number

Hardware trade:Sales index _ _Outstanding accounts (number of times

sales) _.Internal revenue-taxes collected:

Firearms and shells thous. of dolls..Jewelry, watches, and

clocks thous. of dollsTheater admissions thous of dollsBonds and stocks issued and

conveyances thous of dollsCapital stock transfers . thous. of dolls

BANKING AND FINANCE

Life Insurance

(Association of Life Insurance Presidents')

Policies, new (45 companies):Ordinary _ number of policies. .Industrial . number of policiesGroup., _ number of contractsTotal number of policies and contracts..

Policies and certificates issued:Total policies and certificates number..Group insurance certificates.. .certificates..

1935

Septem-ber

34, 83619, 35915,477

32, 0752,041

18, 1291,4158,222

2872,284

1753,440

164

3,227222

2,151

1,076

8,298645

6,3262,8402, 050

2671,330

871,979

99,427

24,6685,2461,488

892903

2,922221

1,03739369

7441,475

244

3,844236

4,697

28, 551

3,002

9,71679, 336

2,80129,456

167, 0761,400

145

2.0

358

5501,812

2,3941,278

187, 944691, 227

107879, 278

899, 21620,045

October

52, 34030, 37521, 965

39, 7592,057

22, 9891,4209,992

2932,732

1794,046

165

3,403223

2,246

1,157

12, 142644

6,6612,8882,257

2661,451

872,421

119, 754

31, 3595,6161,376

1,8381,0234,606

2911,153

578232

1,1211,467

294

6,303422

5,038

32, 489

3,352

12,00899, 240

3,15433,041

184, 0561,597

160

1.8

329

5562,148

2,9281,318

224, 3701, 199, 183

1141, 423, 667

1, 461, 67538, 122

Novem-ber

44, 61825, 82418, 794

36, 8822,066

20, 6771,4259,425

2932,669

1824,111

166

3,184225

2,107

1,077

9,850668

5,9922,9462,034

2671,252

872,506

117, 231

29, 2015,0231,041

2,199906

4,183396591375353

1,0041,532

256

6,584232

4,525

29, 962

2,970

10, 91688, 548

3,06532, 016

138

2.0

506

5971,920

2,6151,949

219, 593851, 209

1721,070,974

1, 097, 29226, 490

Decem-ber

53, 31130, 52222, 789

71, 258

39, 330

17, 984

5,337

8,607

2,275

12,606676

38, 656

4,126

272, 239824, 881

4851, 097, 605

1, 272, 811175, 691

1924

October

41, 06323, 80117, 262

34, 0551,929

20,4001,3517,873

2472,103

1723,679

159

3,176219

2,081

1,095

8,431567

6,5022,5481,949

2531,588

842,213

108, 840

29, 119

3,145

12,00095, 784

3,05230, 763

167, 2861,509

150

1.9

434

5932,021

2,098685

181, 569830, 831

871, 012, 487

1, 083, 20570, 805

Novem-ber

39, 54122, 48817, 053

33, 2921,943

19, 3691,3648,252

2472,244

1743,427

158

2,981219

1,907

1,074

9,286569

6,2052,5631,901

2521,289

842,201

103, 239

26,471

2,627

11, 29488, 962

2,94129, 802

139,7151,157

134

2.1

425

4842,076

1,976660

216, 103641, 128

132857, 363

833, 00225, 771

Decem-ber

46, 31626, 17120, 145

33, 2921,956

35,0211,364

14, 592256

4,260176

7,302161

3,181219

2,057

1,124

9,947569

8,4902,5722,742

2551,906

842,121

102, 667

34, 149

3,613

13, 558100, 098

3,57334,002

119,7771,258

140

1.9

290

7292,554

2,0831,430

230, 278903,065

4721, 133, 815

1, 242, 423109, 080

PER CENT IN-CREASE (+) ORDECREASE (— )

Novem-ber,1925,fromOcto-ber,1925

-14.8-15.0-14.4

-7.2+0.4

-10.1+0.4-5.7

0.0-2.3+1.7+1.6+0.6

—6 4+0.9-6.2

-6.9

-18.9+3.7

-10.0+2.0-9.9+0.4

-13.70.0

+3.5-2.1

-6.9-10.6—24.3

+19.6-11.4—9.2

+36.1—48.7-35.1+52.2-10.4

4 4—12 9

+4.5—45.0—10 2

-7.8

-11.4

-9.1-10.8

-2.8-3.1

-13.7

+11.1

+53.8

+7.4-10.6

-10.7+47.9

-2.1-29.0+50.9-24.8

-24.9-30.5

Novem-ber,1925,from

Novem-ber,1924

+12.8+14.8+10.2

+10.8+6.3+6.8+4.5

+14.2+18.6+18.9+4.6

+20.0+5.1

+6.8+2.7

+10.5

+0.3

+6.1+17.4-3.4

+14.9+6.8+6.0-2.9+3.6

+13.9+13.6

+13.2

+13.1

-3.3-0.5

+4.2+7.4

+3.0

-4.8

+19.0

+23.3-7.5

+32.3+195. 3

+1.6+32.8+30.3

+24.9

+31.7+2.8

CUMULATIVE TOTALFROM JANUARY 1THROUGH NOVEM-BER 30

1934

338, 574196, 004142, 570

309, 861

180,464

75, 505

20, 936

32, 956

33, 190

21, 281

11,909

64,289

66, 298

19, 967

15, 520

22, 2901, 054, 695

281, 876

30, 091

116, 003914, 086

32, 197323, 965

2,988

17, 39956, 281

33, 2678,060

2, 153, 9207, 542, 160

1,1139,697,193

9,944,803248, 723

1935

389, 129227, 821161, 308

349, 232

199, 687

87, 982

24, 208

37, 355

33, 727

22, 064

11, 663

78, 264

66, 088

21, 708

14, 965

22, 8711, 102, 564

307, 319

32, 690

120, 716874, 019

33, 719337, 874

3,315

7,71722, 088

28, 59814, 678

2, 317, 5888, 827, 675

1,49911, 146, 763

11, 519, 577371, 314

Percentin-

crease(t}or de-

crease(-)1925from1924

+14.9+16.2+13.1

+12.7

+10.7

+16.5

+15.6

+13.3

+1.6

+3.7

-2.1

+21.7

-3.6

+2.6+4.5

+9.0

+8.6

+4.1-4.4

+4.7+4.3

+10.9

-55.6-60.8

-14.0+82.1

+7.6+17.0+34.7+14.9

+15.8+49.3

h See table on p. 19 of the December, 1925, issued for earlier data.Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Page 48: Siv.''. - • •- •%';; '^tp^^v;y^ · Wholesale price comparisons 5 Business summary . 6 Indexes of business (production, prices, sales, etc.) 25 TREND OP BUSINESS MOVEMENTS Page

46'

TREND OF BUSINESS MOVEMENTS—Continued

Where available December data havebeen included in this table. The cu-mulatives shown are in most instances,however, only through . Novemberand, where designated by a footnote,through October. Earlier data foritems shown here may be found onpages 29 to 151 of the August, 1925,"Survey"

BANKING AND FINANCE— Continued

Life Insurance— Continued

Amount of new insurance (45 companies):Ordinary. . thous. of dolls.Industrial thous. of dollsGroup thous. of dolls..Total insurance thous. of dolls..

Premium collections (45 companies) :Ordinary thous. of dollsIndustrial thous, of dolls..Group thous. of dollsTotal thous. of dolls-.

Admitted life insurance assets (41 companies) :Grand total mills, of dolls. .Mortgage loans —

Total ...mills, of dolls..Farm mills, of dolls..All other .mills, of dolls..

Bonds and stocks (book values) —Total mills, of dolls..Government mills, of dolls..Railroad mills, of dolls..Public utilities.— mills, of dolls..All other mills, of dolls..

Policy loans and premiumnotes mills, of dolls..

Other admitted assets mills, of dolls..

(Life Insurance Sales Research Bureau)

Sales of ordinary life insurance (81 companies) :United States total thous. of dolls .Eastern manuf. district thous. of dolls..Western manuf. district thous. of dolls..Western agric. district thous. of dolls..Southern district -thous. of dolls..Far Western district thous. of dolls..

Banking

Debits to individual accounts:New York City .mills, of dolls .Outside New York City mills, of dolls

Bank clearings:New York City mills, of dolls..Outside New York City.— mills, of dolls..

Federal reserve banks:Bills discounted .mills, of dolls. .Notes in circulation mills, of dolls..Total investments mills, of dolls..Total reserve mills, of dolls .Total deposits mills of dollsReserve ratio per cent--

Federal reserve member banks:Total loans and discounts... mills, of dolls. _Total investments mills of dollsNet demand deposits. . .mills, of dolls..

Interest rates:New York call loans per centCommercial paper 4-6 mos per cent

Savings deposits, by Federal reserve districts(balance to credit of depositors) :

Total, 846 banks thous of dollsBoston, 64 banks thous. of dolls..New York, 30 banks-. -thous. of dolls..Philadelphia, 78 banks.thous. of dolls..Cleveland, 18 banks thous of dollsRichmond, 91 banks thous. of dolls..Atlanta, 96 banks thous. of dolls. .Chicago, 209 banks thous. of dolls..St. Louis, 32 banks thous. of dolls..Minneapolis, 15 banks.thous. of dolls..Kansas City, 56 banks.thous. of dolls. .Dallas, 85 banks thous of dollsSan Francisco, 72 banks.thous. of dolls. .

U. S. Postal Savings thous of dollsNew York State Savings

banks thous of dolls

Public Finance

Government debt:Interest-bearing _ .. .mills, of dollsTotal gross debt mills, of dolls. _Short-term debt ._ . ..mills, of dolls

Customs receipts thous. of dolls..Total ordinary receipts thous. of dollsExpenditures chargeable to

ordinary receipts thous. of dolls..Money in circulation:

Total mills, of dollsPer capita dollars..

1925

Septem-ber

538, 166175, 11437,800

751, 080

107, 36737, 0573,124

147, 548

9,121

3,7071,5132,195

3,6941,0412,001

547106

1,092628

601, 772230, 427127, 58298, 95480, 03064, 779

24, 36920, 872

21, 77418, 021

6331,685

6242,8662,26872.5

13, 8325,440

13, 046

4.564.19

7, 604, 9621, 329, 8532, 114, 729

522, 453521, 120348, 699253, 104940, 952159, 07199, 939

113, 95775, 078

1, 126, 007132, 159

3, 487, 629

20, 14320, 4186,186

51, 017512, 072

330, 851

4,82742.17

October

630, 262256, 704

54, 446941, 412

130, 04538,9514,841

173, 837

9,209

3,7501,5152,235

3,7131,0352,005

567106

1,099647

668, 794258, 615148, 401107, 38086, 52767, 871

28, 91624, 008

25, 95220, 299

5901,695

6602,8932,29772.5

13, 9015,443

13, 082

4.904.40

7, 613, 5451, 332, 6052, 108, 618

523, 094521, 262353, 016258, 465947, 951158, 31599, 915

113, 15175, 531

1, 121, 622132, 398

3, 529, 169

20, 14120, 4076,184

52, 835202, 245

323, 432

4,90142.77

Novem-ber

596, 833207, 980111,087915, 900

130, 92039, 0744,940

174, 934

9,292

3,7961,5182,278

3,7511,0482,015

580108

1,103642

637, 023252, 514136, 51799, 15581, 49267, 345

27, 00921, 334

23, 47718, 355

6251,732

7012,8612,29171.1

13, 9595,405

13, 025

4.754.38

7, 651, 3841,335,9782, 113, 380

523, 646526, 885356, 396263, 469955, 175159, 357100, 121113, 35176, 675

1, 126, 951132, 711

3 533 841

20, 13920, 4016,182

48, 276184,931

236,034

4,97243.35

Decem-ber

735, 325223, 883314, 396

1, 273, 604

804, 684296, 151173, 510133, 997116, 23184, 795

26, 05920, 013

7501,835

7512,8222,35767.3

14, 2355,462

13, 261

5.454.38

19, 98320, 2486,033

46, 223602, 575

433,968

5,00843.62

1924

October

501, 459198, 461131, 134831, 054

109, 18833, 4053,025

145, 617

8,297

3,2631,4391,824

3,4691,0851,899

38898

1,017548

572, 184224, 325124, 84193, 48969, 22660, 303

22, 50620, 912

21, 58518, 122

2231,767

8023,1322, 21878.6

12, 7645,551

12, 922

2.453.13

7, 151, 5291, 268, 4652, 001, 536

492, 285489, 511325, 899228, 510910, 932141, 02692, 444

106, 97967, 849

1, 026, 093134, 405

3, 308, 534

20, 97821, 2428,069

49, 890255, 323

320,307

4,88043.12

Novem-ber

524, 384150, 71838, 624

713, 726

103, 73132, 1902,593

138, 515

8,359

3,2981,4441,853

3,4961,0851,909

40598

1,018547

545, 152218, 834115, 57788, 87165, 49056, 380

23, 04718, 846

22, 43316, 743

2221,845

8663,1342,20377.4

12, 8705,617

13, 065

2.603.25

7, 194, 4151, 271, 4902, 006, 184

494, 478499, 463324, 495230, 308917, 748157, 23192, 787

105, 62067, 523

1, 027, 088134, 235

3, 318, 009

20, 95121,2138,041

40,011174, 738

233, 758

4,99444.08

Decem-ber

676, 188225, 892184, 130

1, 086, 210

141, 63359, 6164,186

205, 434

8,476

3,3381,4521,886

3,5341,0861,915

430102

1,020585

744,111281, 134165, 469120, 78498, 92877, 796

27, 32721, 830

25, 62618, 445

3141,862

9353,0472,31173.0

13, 0685,531

13, 254

3.383.56

7, 334, 2891, 282, 0742, 056, 333

513, 283506, 689327, 880234, 515932, 953156, 54894, 674

106,49867, 490

1, 055, 712133, 346

3,388,832

20,71220,9797,046

40, 129570, 792

345, 879

4,99344.03

PER CENT IN-CREASE (+) ORDECREASE (— )

Novem-ber,1925,fromOcto-ber,1925

5 3-19.0

+104. 0-2.7

+0.7+0.3+2.0+0.6

+0.9

+1.2+0.2+1.9

+1.0+1.3+0.5+2.3+1.9

+0.4-0.8

-4.8-2.4-8.0-7.7-5.8-0.8

-6.6-11.1

-9.5-9.6

+5.9+2.2+6.2-1.1-0.3-1.9

+0.4-0.7-0.4

-3.1-0.5

+0.5+0.3+0.2+0.1+1.1+1.0+1.9+0.8+0.7+1.3+0.2+1.5+0.5+0.2

+0.1

0.00.00.0

-8.6-8.6

-27.0

+1.4+1.4

Novem-ber,1925,from

Novem-ber,1924

+13.8+38.0

+187. 6+28.3

+26.2+21.4+90.5+26.3

+11.2

+15.1+5.1

+22.9

+7.3-3.4+5.6

+43.2+10.2

+8.3+17.4

+16.9+15. 4+18.1+11.6+24.4+19.4

+17.2+13.2

+4.7+9.6

+181. 5-6.1

-19.1-8.7+4.0-8.1

+8.5-3.8-0.3

+82.7+34.8

+6.4+5.1+5.3+5.9+5.5+9.8

+14.4+4.1+1.4+7.9+7.3

+13.6+9.7-1.1

+6.5

-3.9-3.8

-23.1+20.7+5.8

+1.0

-0.4-1.7

CUMULATIVE TOTALFROM JANUARY 1THROUGH NOVEM-BER 30

1924

5, 871, 4091, 737, 662

413, 7978, 022, 864

1, 181, 812350, 51727, 233

1, 559, 562

6, 274, 3442, 521, 8701, 362, 383

971, 314776, 518642, 259

236, 204206, 121

224, 244177, 721

505, 1043, 341, 595

2,999,114

1925

6, 833, 0142, 135, 291

684, 8579, 653, 164

1, 343, 573404, 40748, 404

1, 796, 382

7, 250, 1532, 923, 0781, 549, 3111, 145, 812

899, 338734, 615

283, 059232, 357

256, 660197, 121

524, 6043, 224, 545

3, 166, 134

Percentin-

crease(t}or de-

crease(-)1925from1924

+ 16- 4r

+22.9+65.5+20. a+13.7+15.4+77.7+15.2

+15.6+15.9+13.7+18.0+15.8+14.4

+19.8+12.7

+14.5+10.9

+3.9-3.5

+5.6

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

Page 49: Siv.''. - • •- •%';; '^tp^^v;y^ · Wholesale price comparisons 5 Business summary . 6 Indexes of business (production, prices, sales, etc.) 25 TREND OP BUSINESS MOVEMENTS Page

47

TREND OF BUSINESS MOVEMENTS—Continued

Where available December data havebeen included in this table. The cu-mulatives shown are in most instances,however, only through Novemberand, where designated by a footnote,through October. Earlier data foritems shown here may be found onpages 29 to 151 of the August, 1925,*'Survey"

BANKING AND PINANCE-Continued

Business Failures

Liabilities:Total commercial thous. of dollsManufacturing

establishments thous. of dollsTrade establishments thous. of dolls _.Agents and brokers thous. of dolls, .

Firms:Total commercial number,.Manufacturing establishments number..Trade establishments number..Agents and brokers number.

Dividend and Interest Payments

(For the following month)

Grand total thous. of dolls,.Dividend payments:

Total thous. of dolls..Indus, and misc. corp thous. of dolls..Steam railroads _ _ ..thous. of dolls..Street railways ..thous. of dolls..

New Security Issues

Total corporation (Commercial and FinancialChronicle) :

Purpose of issue-New capital thous. of dollsRefunding thous. of dolls..

Kind of issue-Stocks thous of dollsBonds and notes thous. of dolls..

Total corporation (Journal ofCommerce) thous. of dolls..

States and municipalities:Permanent loans thous. of dolls..Temporary loans .thous. of dolls

New incorporations thous. of dolls

Agricultural Finance

Loans outstanding, end mo.:Federal farm loan banks ... thous. of dolls..Joint-stock land banks thous. of dolls..Federal intermediate credit

banks thous. of dollsWar finance corporation thous. of dolls..

Stocks and Bonds

Stock prices, daily closing:25 industrials, average dolls, per share..25 railroads, average dolls, per share. _103 stocks, average dolls, per share..

Stock sales:N Y Stock Exchange thous. of shares

Bond sales:Miscellaneous .thous. of dollsLiberty- Victory _ thous. of dolls..Total thous. of dolls

Bond prices:Highest-grade rails.p. ct. of par, 4% bond..Second-grade rails.. p. ct. of par, 4% bond..Public utility p. ct. of par, 4% bond..Industrial p. ct. of par, 4% bond--Comb, price index.. p. ct. of par, 4% bond..5 Liberty bonds 9 p. ct. of par..16 foreign governments and

city9 p. ct. of par..Comb, price index, 66 bonds fl.p. ct. of par..

Municipal bond yield9 per cent..Long-term real estate bonds issued :i

Grand total thous. of dolls.Purpose of issue-

Finance construction thous. of dolls-Real estate mortgage thous. of dolls..Acquisitions and im-

provements thous. of dolls.All other thous. of dolls..

Kind of structure-Office and other com-

mercial.. _ thous. of dolls..Hotels thous. of dolls__Apartments thous. of dollsAll other _ thous. of dolls..

1925

Septem-ber

30, 687

8,16714, 9907,530

1,465388

1,01562

427, 220

102, 92066, 36525, 90510, 650

294, 30916, 379

74, 634236, 053

234, 096

121, 45876,118

572, 75J

989, 960519, 237

64, 31824, 688

162. 8384.73

115. 71

36, 886

242, 65721, 066

263, 723

86.5476.9170.9574.9276.92

101. 40

104. 0097. 554.21

51, 808

16, 35013, 330

13, 0689,060

11, 2708,7557,025

24, 758

October

29, 544

H,26413, 5304,750

1,581408

1,11162

309, 395

73, 59532, 35033, 9507,295

300, 99470, 310

120,932250, 373

278, 096

86, 12493, 465

585, 422

995,207526, 042

73, 09722, 275

174. 4985.40

121. 39

53, 423

258, 97921, 528

280, 507

86. 0676.7870.5275.1776.73

101. 92

102. 7597.464.26

90, 839

39, 88031, 753

11, 6407,566

37, 5158,3935, 130

39, 801

Novem-ber

35, 922

13, 99418, 9073,022

1,672442

1,14684

322, 323

74, 97054, 57515, 1805,215

365, 56510, 675

149, 938226, 302

251, 381

65,11511, 115

1,241,594

999, 415.534, 134

77, 30019, 843

174. 3988.13

120. 05

48, 981

218, 99923, Oil

242, 010

86.2277.7370.6575.4677.12

102. 02

101. 4197.534.22

65, 647

45, 2409,620

10, 375412

27, 09012, 79510, 16515. 597

Decem-ber

36, 528

12, 93120, 6352,962

1,878490

1,30781

509, 250

166, 50067, 99528, 77518, 015

373, 977

1,020,548

177. 7492.45

42, 876

1934

October

36, 099

15, 61916, 1224,357

1,696411

1,18699

288, 300

67, 30029, 50032, 2006,100

361, 89856, 549

78, 257340, 190

384, 032

96, 076126, 375543, 490

912, 568435, 829

60, 80960, 672

117. 2969.6390.25

18, 126

247, 97245, 164

293, 136

86.6774.3670.1073.7575.74

102. 98

103. 6797.134.11

30,549

20, 6144,200

4,5901,145

20, 5703,2153,1243.640

Novem-ber

31, 124

10, 25215, 7825,090

1,653361

1,19399

301, 150

71, 15052, 40014, 3504,400

235, 2568,112

56,480186,888

197, 464

73, 60036, 983

574, 096

919, 188440, 046

64, 30045, 648

124. 1176.0097.77

41, 369

336, 43152, 987

389, 418

86.4375.0370.4574.0676.06

102. 10

103. 5096.864.13

38, 257

24, 62210, 735

1,0001,900

17, 32011,1155,5374.285

Decem-ber

45, 279

15,75327, 1412,385

2,040475

1,464101

458, 625

158, 12564, 60927, 15016, 800

227, 25956, 727

89, 185283, 985

310, 014

120, 244130, 971734, 854

927, 568446, 429

62, 26740, 205

134. 2979.1599.65

42, 876

313, 04479, 448

392, 492

85.4574.6570. 5673.9475.77

101. 98

102. 3996.554.16

46, 557

27, 2651,301

2,5103,775

19, 9054,290

10, 08512. 277

PER CENT IN-CREASE (+) ORDECREASE (— )

Novem-ber,1925,fromOcto-ber,1925

+21.6

-1-24.2+39.7-36.4

+5.8+8.3+3.2

+35.5

+4.2

+1.9+68.7-55.3-28.5

+21.5-84.8

+24.0-9.6

-9.6

-24.4-88.1

+112. 1

+0.4+1.5

+5.7-10.9

-0.1+3.2-1.1

-8.3

-15.4+6.9

-13.7

+0.2+1.2+0.2+0.4+0.5+0.1

-1.3+0.1-0.9

-27.7

+13.4-69.7

-10.9-94.6

-27.8+52. 4+98.1-60.8

Novem-ber,1925,from

Novem-ber,1924

+15.4

+36.5+19.8-40.6

+1.1+22.4-3.9

-15.2

+7.0

+5.4+4.2+5.8

+18.5

+55.4+31.6

+165. 5+21.1

+27.3

-11.5-69.9

+116.3

+8.7+21.4

+20.2-56.5

+40.5+16.0+22.8

+18.4

-34.9-56.6-37.9

-0.2+3.6+0.3+1.9+1.4-0.1

-2.0+0.7+2.2

+71.6

+83.7-10.4

-78.3

+56.4+15.1-t -83. 6

+264.0

CUMULATIVE TOTALFROM JANUARY 1THROUGH NOVEM-BER 30

1934

497,946

270,416176, 05050, 878

18. 5754,733

12, 799913

3, 840, 590

1, 012, 689566, 170301, 19583,090

3, 008, 303457, 098

777, 2012, 688, 301

2, 909, 132

1,326,445848,] 10

6, 419, 866

238, 920

2, 604, 697786, 686

3, 391, 383

272, 697

200, 51450, 630

10, 16811, 385

126, 66255, 27356, 71734.045

1925

407, 216

154, 754194, 73457, 729

19, 3364,600

13, 854882

4,073,778

1, 066, 505592, 995317, 11593, 350

3, 650, 822593, 927

1, 149, 0533, 095, 698

3, 268, 034

1, 234, 157695, 618

8, 960, 655

408, 123

2, 848, 512317, 128

3, 166, 640

637, 748

365, 737143, 548

77,39351,026

243, 749106, 14184,392

203.468

Percentin-

crease(-yor de-crease(-)1925from1924

-18.2

-42.8+10.6+13.5

+4.1-2.8+8.2-3.4

+6.1

+5.3+4.7+5.3

+12.3

+21.4+29.9

+47.8+15.2

+12.3

-7.0-18.0+39.6

+70.8

+9.4-59.7-6.6

+133. 9

+82.4+183. 5

+661. 1+348. 2

+92.4+92.0+48.8

4-497. fiJ See table on p. 25 of the September, 1925, issue for earlier data.» For 1st of following month.

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48

TREND OF BUSINESS MOVEMENTS—Continued

Where available December data havebeen included in this table. The cu-mulatives shown are in most instances,howeverf only through Novemberand, where designated by a footnote,through October. Earlier data foritems shown here may be found onpages 29 to 151 of the August, 1925,''Survey"

GOLD AND SILVERGold:

Domestic receipts at mint fine ounces ..Rand output thous. of ouncesImports - - -- -thous. of dolls ._Exports thous. of dolls..

Silver:Production thous. of fine oz_.Imports thous. of dolls..Exports -.thous. of dolls—Price at New York dolls, per fine oz._

FOREIGN EXCHANGE BATESEurope:

England dolls, per £ sterling-.France - dolls, per franc—Italy - - dolls, per lire-.Belgium..- dolls, per franc—Netherlands dolls, per guilder--Sweden dolls, per krone--Switzerland dolls, per franc—

Asia:Japan dolls, per yen. _India.. —dolls, per rupee-

Americas:Canada dolls, per Canadian doll—Argentina —dolls, per gold peso—Brazil- _ ._ dolls, per milreis—Chile dolls, per paper peso..

U. S. FOREIGN TRADEImports

Grand total _ . thous. of dolls..By grand divisions:

Europe —Total thous. of dolls..France thous. of dolls—Germany —thous. of dolls..Italy thous . of dolls _ _United Kingdom thous. of dolls..

North America-Total thous. of dolls.,Canada thous. of dolls..

South America-Total thous. of dolls..Argentina — thous. of dolls _

Asia and Oceania-Total - - thous. of dolls .Japan thous. of dolls.-

Africa, total _ — thous. of dolls _By class of commodities:

Crude materials— thous. of dolls. _Foodstuffs, crude, and

food animals thous. of dolls _ _Manufactured foodstufls... thous. of dolls..Secnimanufactures thous. of dolls..Finished manufactures thous. of dolls..Miscellaneous _ _ thous. of dolls ._

ExportsGrand total, including

reexports thous. of dolls—By grand divisions:

Europe —Total . -thous. of dollsFrance .. . thous. of dolls .Germany . .. .. thous. of dollsItaly.. thous. of dolls..United Kingdom .. -thous. of dolls

North America-Total -thous. of dollsCanada. _ thous. of dolls _.

South America-Total thous. of dolls-Argentina thous. of dolls _

Asia and Oceania-Total thous. of dollsJapan _ -thous. of dolls

Africa, total- thous. of dollsTotal, domestic exports only. .. thous. of dolls..By classes of commodities:

Crude materials thous. of dollsFoodstuffs, crude, and

food animals thous. of dolls..Manufactured foodstuff s _ — thous. of dolls. _Semimanufactures.. thous. of dolls..Finished manufactures thous. of dolls. .Miscellaneous _ .thous. of dolls. _

Agricultural exports (quantities) :All commodities index numberAll commodities except

cotton index number..

1935

Septem-ber

78, 329797

4,1286,784

4,8454,5047,487.716

4.85.047.041.044.402.268.193

.408

.366

1.000.917.135.120

349, 954

100, 37012, 84315, 0676,724

31, 288

76, 54837, 356

44, 3215,603

123, 23947,9705,526

142, 198

45, 24733, 11058, 02165, 3706,059

420, 360

228,37920, 54552, 11712, 79390,334

102, 81963, 338

29,0069,661

53, 10718,0127,008

412, 698

131, 579

34, 17952, 65950, 058

143,470753

128

158

October

128, 030812

50, 74128, 039

4,6445,6028,783.711

4.84.044.040.045,402.268.193

.410

.366

1.001.934.148.121

374, 061

115, 83415, 67515, 7039,680

37, 717

81, 98747, 115

38,7894,003

133,98939, 0793,506

151, 144

44, 27833, 19265,71377,2242,553

490, 601

282, 70234, 05156, 48117, 392

121, 394

96,49155, 798

31, 13512, 144

73,42133, 1706,861

482, 921

209, 659

19, 31251, 47450, 751

151, 070655

168

129

Novem-ber

102, 641787

10, 44824, 355

4,7774,0498,111.692

4.85.040.040.045.402.268.193

.423

.366

1.001.944.146.122

376, 665

118,23114,49215, 7289,323

42, 342

75, 86843, 233

43, 3196,714

131, 45937, 2427,788

165, 904

46, 58829, 33962, 22370, 5152,096

447, 595

237, 64429, 56039, 12016, 766

107, 247

93, 73953, 650

34,99113, 230

72,65429, 8618,568

439, 449

172, 534

19, 48546, 97250, 035

149, 2321,191

149

124

Decem-ber

.689

4.85.037.040.045.402.268.193

.432

.366

1.000.942.142.122

1924

October

127, 184828

19, 7024,125

5,6315,8299,465.708

4.49.052.044.048.391.266.192

.388

.337

1.000.836.112.111

310, 752

106,47714, 12313, 7019,019

36, 530

75, 12433, 729

42, 1034,700

82, 92029, 3084,128

100, 726

42,46238, 41456,65168, 9792,320

527, 172

290, 61526, 78749, 65521, 955

125, 432

133, 31486, 270

32, 82012, 764

64, 19028, 9286,232

518, 265

162, 432

101, 82058, 71153, 428

141, 107767

204

298

Novem-ber

106, 488802

19, 8626,689

5,6246,4819,401.693

4.61.053.043.048.401.268.193

.385

.344

1.000.855.155.113

296, 148

97, 91113,72911, 9097,989

35, 675

71, 17735, 059

41,9254,582

80,97928, 3644,156

106,807

38, 07628,93658,91761, 464

1,948

493, 573

305, 45636, 76558,31222, 863

125, 835

93,09453, 110

27, 08710, 108

63, 14931, 5484,787

486,453

196, 372

58, 94054, 46150, 896

124, 897887

19>4

209

Decem-ber

90, 816825

10, 27439, 675

5,6745,864

11, 280.681

4.70.054.043.050.404.270.194

.384

.353

.997

.883

.115

.113

333, 192

110, 72114, 43612, 7939,084

39, 349

69, 13536,489

44, 5246,294

98, 01739, 62611, 165

131, 701

40, 09827, 89660,92370, 7592,185

445, 748

273, 34227, 86250, 67123, 914

115, 884

76,39838, 123

29, 75210, 702

58, 36226, 4517,026

438, 650

168, 273

39, 51654,38853, 704

122, 003676

161

178

PER CENT IN-CKEASE (+) ORDECREASE (— )

Novem-ber,1925,fromOcto-ber,1925

-19.8-3.1

-79.4-13.1

+2.9-27.7-7.7-2.7

+0.2-9.1

0.00.00.00.00.0

+3.20.0

0.0+1.1-1.4+0.8

+0.7

+2.1-7.5+0.2-3.7

+12.3

-7.5-8.2

+11.7+67.7

-1.9-4.7

+122. 1

+9.8

+5.2-11.6-5.3-8.7

-17.9

-8.8

-15.9—13.2-30.7-3.6

-16.7

-2.9-3.8

+12.4+8.9

-1.0-10.0+24.9-9.0

-17.7

+0.9-8.7-1.4-1.2

+81.8

-11.3

-3.9

Novem-ber,1925,from

Novem-ber,1924

-3.6-1.9

-47.4+264.1

-15.1-37.5-13.7-0.1

+5.2-24.5-7.0-6.2+0.2

0.00.0

+9.9+6.4

+0.1+10.4-5.8+8.0

+27,2

+20.8+5.6

+32.1+16.7+18.7

+6.6+23.3

+3.3+46.5

+62.3+31.3+87.4

+55.3

+22.4+1.4+5.6

+14.7+7.6

-9.3

-22.2-19.6-32.9-26.7-14.8

+0.7+1.0

+29.2+30.9

+15.1-5.3

+79.0-9.7

-12.1

-66.9-13.8-1.7

+19.5+34.3

-23.2

-40.7

CUMULATIVE TOTALFROM JANUARY 1THROUGH NOVEM-BER 30

1924

991, 9888,772

309, 34621, 973

58, 54668, 08298, 611

3, 276, 771

985, 433133, 200126, 46565, 938

327, 128

925, 939362, 578

421, 94769, 004

882, 288300, 43661, 163

1,105,427

384, 820493, 706592, 627680, 212

19,979

4, 145, 235

2,171,049253,802389, 745163, 232866, 150

1, 012, 778585,043

285,406106, 391

612, 734223, 85563, 268

4,059,063

1, 158, 007

353,071519,205556, 867

1,466,0355,878

1925

957, 8068,807

121, 050256, 666

57, 32658, 84991, 531

3, 830, 255

1, 122, 389142, 186142, 89292, 753

375, 563

902, 116412,087

471, 06273, 024

1, 252, 533344,93782, 155

1, 545, 508

446, 803404, 664687,817722, 25823,205

4,441,404

2,356,393252,082434, 359187,671917,676

1,044,771599, 699

359,061131,888

601, 984200,90679, 195

4, 359, 381

1, 261, 459

296,707521, 080606, 053

1,666,7987,284

Percentin-

crease(+)

or de-crease(-)1925from1924

-3.4+0.4

-60.9

-2.1-13.6-7.2

+16.9

+13.9+6.7

+12.9+40.7+14.8

-2.6+13.7

+11.6+5.8

+42.0+14.8+34.3

+39.8

+16.1-18.0+16.1+6.2

+16.1

+7.1

+8.5-0.7

+11.4+15.0+5.9

+3.2+2.5

+25.8+24.0

-1.8-10.3+25.2+7.4

+8.9

-16.0+0.4+8.8

+13.7+23.9

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OF OF COMMERCE

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* /'^Vv'V'ficeeigit ^iiblications f ;the Department of: Coaimeree having the ttfcogtf direct interest %* readers of the BUJRV&T Gf CttREjBNT*$f ij&j&&^&^$^^B&&'jbeknft.' /,Sr^<)mj>iete list may be obtaiiied fey addressing the JtHyision: of JPablicatioi^s/Department of Cpim&eroe,: t ' ^v^;^ ^is^hinji^n^ * Gp[pi€^%Of^^6rjpjil)licatlons mayJbe purchased froin the Superintendent ofyHociiBaerits, Government Printing^'J-ppI^^ .Pino price is ?n^tip»€^? ti^^ublicatloli Is distributed .free.* . " „

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wa, *(low loss *' cqil^, i%3o^^ vthex r^-nge Of broaddasti for&fthib ba8ic',matei" - - ' * • - " ' * -

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

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DEPARTMENT OF COMMBECE t; JHEfeBERT HOOVEE, SECRBTAEV 3 '.^v*

- " f?^^r-v/' ' \\" ' - v

General Cens f,l^d).^3^t^p0|>ulaton ^tt^,_T__, %._ T . i&r, ^EHBQipo^tcd places, ''m&Sji of

cities, #nd mi^orw^I division*; racje; ser; age; marital COB-, dtljoa^ State, 01 biiNfc of vio^tly^ pdpulation^ iaualfy of bitth j s

r; gantry of oiigx&taiid Mother tongue of foreign it$js$Qot\* (oot^pftsefc fp^gn-ftora wMte aid iiatfye wwte of fofclgft^

* "• * '"• >:, trea* fcf /imiaigratiom -^»— ^*^ -^^'j|«L i-^ -." f- -'SL.'iis.*..-.' JL i. j L C

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~ ^ifti^cfaifiMp^Vo^^d^lptp^of homes. Occupations: JPersons, ^f^fiis, of age aid o^ ^aipfu% Qpcupie^•^f-ii^a - a^^ fc^ ^otc^ri c^pledj Qy! maTital conditiotii'i" *v';^V*v*' V

ft4i*&^£ >!-i"J "^^^';

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' ments and receipts, for hospitals, aanatoriums, and dispen-saries. " s « ^ •/, .- ,-,•;;>/>!,, vi rj , t ,- l , ^"'.C V1/ , , *

lies (decennial, 1916).—Shows, to? ew _denomination^ numto of church organizations and church

d Divorce (annual).—Number of marriages and, -^aS^iVJl. II^^tLlii'Jl*i'l_,^^i_ JLtj?-.j.ijfii.Ji i^_ - isi'—L^Zi-t^ueVLA • '

^%iitb^^%tf-o^^rw^iflM^tM<^-^^^:^:'• tested, causa of divorce, aad number of chUdren afi&jtM tf

^Ay*^*,*,** i ; ' r; v ?'" " ",. ?X-i^ ». ^ v .*# ^' l> *•( " H j S t * i -^> ,*x\wyt'£< « / ,+ ' . :*j>^ "^- : ^ " ' " " ' - - ' - ^ '.'- / v ; ' V ' v f ' ' ;~

g%, tMtj> ;; ) PMajit iprfdt

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^ .. , * - _ •• •> ^ 4 >• *\*.*• t » \^ * ;^ t j*>

>

a»d per

;^^wl^fr^to.^i%io» i ., . ^ ...,«,,.-,.i tbif'KtcMJ^%i^,%^i¥f t^, 'ttiilfo%\pu)aic;jtev^

nues, and public debt for States, counties, cities, etc.; digest

- - -" - ' \* - ^ r > ' 'l:dbe^^'^^M^bi«^iiMiA«^iteftt4^^;^ibyf,Wafl

' ~^^^~J^*^-%^^ ^

lJ?Att ^ | ^ * > V

-"ff (ifeceiii %fc 1 0 i b0p;o i

eiises; quaniiwes ana vaii^e 01 proaucis;aripg;v*fee :t e^ur:; ifM^fJ^3 tl^iiMty4 of,

]pp;W^1IS< |Mt

; qid^Vbt^'^ii^^ f^N

' Jfi^f^-iif^^

.._ ^-,__, r ^^d^aud, iLr , , -T- ,, ,_^ r -^r^-,

Mines imjl$ij^^ 'eponding to that shown for manuf^tur^

I'Wto^lfrjd^f^^ » k %

regard to mine timbers used underground, v.>1ti*''\^v'^'v'''" xx'' *Forest Products ~fali$^^p^

f Itt3baber./la%, ^hl |fe> id W0od pulp, and the consump-tion of pulp wood. f \ "*:''>'r~\.~'^y^::^^^> /,^

•' f ^C^OULXQi^JlpB^^ *Agriculture (quinquennial, 7525).—Farm operators, by color

and tenure; farm population; farm acre^e,r by classes of ;land; farm values; farm mortgages; selected farm expenses;. ,_..., ...... ,.,.. ,.j»,. . , . ^^^y^^

— r-^T^ ^^^^f ~^~<—^fc;^i^p^i^^re- *%^'w^'ViJ^jrt.^flM^ ,*cv : i

&£&&&*• -,~V »r—^ 5 1 . ' ^* ^* ^•^CT^*»—T ' ~—•• ^^^-Jr.J—'—VFS^U^ J^wiK ? • * •T^*' Ai; q*iaat% -a : t ,rtrat ^ j -S . S||"i i ,of':^^ow^e^,:r",i'\:-\,;

1;;;,/ ;K/^^f;%^-l;4;t^ ' ; < A :

/)rafna^e (^c6nn/a^/92(>).—Cost and character of enterpr^ 'Wjr.Jk/9 ^vW^ rA*»lB6W*Cl|jj^Jv^Hw*V». f**'* wWIJv^',%JU^*wJ.J|CRJsi ^BCM|vBynmiTOUtyO -C»Jk»v.» »*/vfim

COMMERCE, 'L^~£:|~^ i ^ ^ . - Ii ^ . ^— 1

^ tant current statistics on domestic industrial and comm^ movements. Figures ate gathered from numerous trade

ari/ments, reaerai, DT-aie, ana loreign, wnicn ^o-i» tftefMj^f ;By fe|iisMag tt%^d|ta for; this) » JTLI-A<_lt_ *»,. ,-LlJ^ .-i^^. ,!•._' '5i_. 'i1 _iiiJ*» ri.flfto't^ i J1.«_. _.

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