Survey of Current Business December 1941 · 2015-02-09 · War Influences Dominate Foreign Trade. 10 11 Monthly Estimates of Sales o! ... Installment loans: Personal finance companies,

SURVEY OF

DECEMBER 1941

UNITED STATES DEPARTMENT OF COMMERCE

BUREAU OF FOREIGN AND DOMESTIC COMMERCE

gjlpl R^^f Rail i l l

Volume 21 of the Survey of Current Business

No. Page

The Electric Power Industry and the Defense Program 1 11An Economic Review of 1940 . . . . 2 3Capital Expenditures for Manufacturing Plant and Equip-

ment, 1915-40. 3 9Recent Price Developments 4 8The American Shipping Situation 4 13The Relation Between Corporate Bigness and Control Over

the Output of Individual Products, 5 10National Income Exceeds 76 Billion Dollars in 1940 6 11The Railway Freight Car Problem 7 10Income Payments by States. 8 11Consumer Credit and Price Control 9 9The Defense Program and Labor Requirements 9 12The Outlook for Consumption 9 17War Influences Dominate Foreign Trade. 10 11Monthly Estimates of Sales o! All Retail Stores, 1935-41 10 18The New Defense Facilities 11 10Public arid Private Debt In the United States, 1929-40 11 18Factors Influencing the General Movement of Prices in Great

Britain 12 11Capital Expenditures in Selected Manufacturing Industries. . 12 19

TABLES OF NEW ©R REVISES STATISTICAL SEEIE3No. Pag©

Automobile receivables outstanding, 1936-41 11 26Automobiles, index of dollar sales of new passenger cars,

1928-41 8 20Butter and cheese, production and consumption, 1939 and

1940. T 9 26Construction:

Estimated number of dwelling units provided in all urbanareas, 1939 5 17

Building costs for standard 6-room frame house, index,1936-41 10 26

Cost of living:Cost of living index and food component (N. I. C. B.

index), 1935-39 1 18Cost of living index (U. S. Department of Labor index),

1913-41 5 18Department store sales, MinneaDolis Federal Reserve Dis-

trict, index, 1919-39 * 5 18Employment:

Estimates of nonagricultural employment, total civilnonagricultural employment, by industrial groups,and military and naval forces, 1929-40 3 17, 18

Nonagricultural employment, revised estimates of totalcivil nonagricultural employment, employees in non-agricultural establishments and manufacturing 8 20

Factory employment and pay rolls, total, durable andnondurable goods, 1937-39 3 18

Exports by grand divisions and countries, by economicclasses, and by commodities, 1939 4 17

Federal expenditures, 1932-41 11 23Freight-car loadings, indexes, 1919-40 8 21, 22Glassware, machine-made:

Tumblers, production, shipments, and stocks, 1939-40. 1 17Table, kitchen, and household ware, shipments, 1939-

40 1 17Gum rosin, wholesale price, 1919-40. 1 17

No. PageImports by grand divisions and countries, by economic

classes, and by commodities, 1939 . 4Income payments, 1929-40 7 16-Indusirial production, revisions in data for combined index,

manufactures, durable goods, and certain industries andindustry groups 9 24, 25

Installment loans:Personal finance companies, loans, repayments, and

outstandings, 1929-40 9 26Credit unions, loans, repayments, and outstandings,

1936-41 10 26Lard, production in Federally inspected plants, 1937-40. . 1 18Local transit lines, passengers carried, 1938-40 3 18Lumber:

Index of wholesale price of lumber, 1935-40 1 18Douglas fir, wholesale prices, 1922-40 5 17Lumber production, shipments, and stocks, total and

softwoods, 1939 5 17Nonfarm real estate foreclosures, index, 1926-41 10 26Petroleum and products:

Crude petroleum and motor fuel, revisions for 1939 1 17Gasoline, wholesale price, tank wagon, New York,

1935-40 1 18G asoline, retail service-station price, 50 cities, 1920-40 3 16

Purchasing power of the dollar in terms of living costs andretail food, 1935-40 1 18

Rayon filament yarn, wholesale price, viscose, 150 denier,first quality, 1913-41 11 22

Retail stores, total dollar sales and indexes of sales of allretail, durable goods and nondurable goods stores, and bykinds of business groups, 1935-41 10 24

Rigid steel conduit and fittings, shipments, 1937-41 11 26Steel production, ingots and steel for castings, and percent

of capacity, 1917-40. 3 16Weekly business statistics, selected series 11 24-26

SURVEY OFCURRENT BUSINESS

DECEMBER 1941

ECONOMIC HIGHLIGHTS 2

THE BUSINESS SITUATION 3

Review of the month 3

Christmas trade 3

Industrial disputes 4

Corporate earnings higher in 1941 7

The rise in export aid 8

PRICE CONTROL IN GREAT BRITAIN n

MANUFACTURING CAPITAL EXPENDITURES 19

STATISTICAL DATA:

Monthly business statistics , . . . . , S-lGeneral index Inside back cover

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

Volume 21 Number 12

Subscription price of the monthly and weekly issues of the SURVEY OF CURRENT BUSINESS $2 a year. Single-copy price: Monthly, 15 cents; weekly, 5 cents.Foreign subscriptions, 33.50. Price of the 1940 Supplement is 40 cents. Make remittances only to

Superintendent of Documents, Washington, D. Ci

1428343—41 1

SURVEY OF CURRENT BUSINESS December 1941

Economic Highlights

Defense DisbursementsExpenditures on war material and facilities exceed World War

I . . . but are smaller proportion of income than comparable1918 period. July 1940-October 1941 disbursements . . . ex-cluding pay and subsistence but including Foreign Governmentoutlay . . . totaled 12,178 million dollars . . . as against similar

BILLIONS OF DOLLARS

World War I Prices—Controlled and UncontrolledWorld War I price control was selective . . . at war's end more

embracing but less centralized than today . . . with authoritylodged in 9 different agencies. Not until August 1917 were con-trols instituted . . . prices eventually under control then averaged91 percent above prewar levels. . . . others had risen 62 percent.

JULY

. 1 : . : 1 L_

1940-OCT 1941

\PR. 1917- NOV 1918

1940 194!

Annual Rate of Monthly Disbursements for War Material in World War Iand World War II.

expenditure for April 1917- July 1918 of 9,790 million. Annualexpenditure rate climbed to 19 billion dollars in October . . . was13 billion in July 1918. In both instances heavy initial expen-ture went for camps, light supplies, facilities . . . completion oflatter plus conversion of non-defense facilities provide basis forfurther lift. SPAB's Executive Secretary says present schedulescall for 2%-billion-dollar monthly outlay by autumn 1942 . . .but more than Z}{ billion monthly is required to do job.

Indexes of Controlled and Uncontrolled Prices of All Commoditiesin World War I.

Most controlled prices were set below peak quotations . . . andceilings were applied gradually. By Armistice, two-fifths ofprices in the Bureau of Labor Statistics' "all commodities" indexwere controlled . . . and these prices then averaged 4 percenthigher than August 1917. Uncontrolled prices were up one-fourth . . . were highest as compared to prewar levels . . . butrelaxation of control in January 1919 brought resumption ofadvance in prices set free . . . as basic fiscal control was absent.

Machinery Output a Record—But Still Short

Output of producers' equip-ment paces defense expansion.This year's record volumelikely will reach 9 billion dol-lars . . . 60 percent ahead of1929. September shipmentsof 800 million dollars almostdoubled June 1940 rate . . . butincoming business was evenheavier . . . and backlogs to-taled 6.6 billion dollars. Plant,labor, and material shortagesall limit production in manylines. Largest output goes tomanufacturing and mining . . .with an equipment outlayroughly estimated nine-tenthsabove 1940 . . . largely for

BILLIONS OF DOLLARS1.2

1.0 ~

0.8

0.6

0.4

0.2

New Orders and^Shipments of Producers' Machinery and Equipment.

J F M A M J J A S O N D J F M A M J J A S O N D

defense. Railroads, electricpower, other utilities are esti-mated to be spending halfagain as much as last year . . .with power needs the highestin history. Machine tools areworst bottleneck . . . Sep-tember production of 71 mil-lion dollars almost doubledJune 1940 output . . . andexports are lower. But cur-rently planned defense produc-tion alone requires machinetools totaling 2 billion dollars.Xew plants are being built . . .subcontracting increases . . ,more facilities are converted todefense . . . but basic shortagecontinues.

December 1941 SURVEY OF CURRENT BUSINESS

The Business SituationTHE holiday season again finds business at a new

peak, duplicating the experience of the past 2 years.Needless to say, the business situation today differsvastly from that a year ago, with output in many linesnow at capacity, material shortages widespread, andcivilian facilities undergoing conversion to defense work.But notwithstanding the host of problems raised bythese and other considerations, the closing weeks of theyear find activity in the aggregate forging ahead.

National income- the best over-all measure of ourprogress—is about one-fifth above the fourth quarter1940. Though almost half of the rise reflects higherprices, the expansion of real income is still the mostrapid on record. On a monetary basis, the pace of theincome advance has been fairly even throughout theyear. But after adjustment for price change, it is clearthat gains in recent months hove narrowed markedly.

Further Rise in Output.

Industrial production again moved into new highground during November as expanding military outputand increased automobile production more than offsetreductions in coal and certain of the consumer durables.The seasonal slack at late autumn, usual in more nor-mal times, has not been evident this year, the FederalReserve's adjusted index apparently rising to an esti-mated 166 from 164 in October.

Freight carloadings have reflected the maintenance ofhigh industrial operations and the November declinewas much smaller than normally experienced, despitethe fact that work stoppage in parts of the coal indus-try reinforced the usual holiday tendencies in the latterpart of the month.

On the Great Lakes, exceptionally fine weather forlate autumn permitted the maintenance of heavy move-ment to the lower Lake ports, thus alleviating concerno\er the adequacy of winter supplies.

Construction continues to be as active as scarcematerial supplies will permit. Contract awards are ata record high for this season and defense constructionin itself is at an annual rate exceeding the total of alltypes of activity in the best years of the past decade.

The price advance continues in many industrial linesas the basic factors remain unchanged. The Office ofPrice Administration, which had issued 46 formal priceceilings through November, has slowed the rise in someareas. Farm and food prices also continued tomark time through November. Living costs, reflectingthe earlier advances in primary markets, are movingahead at a rapid pace.

The price bill passed by the House and committedto the Senate on November 28 differed in several im-portant aspects from that submitted to the committee

in July.1 From an administrative standpoint, significantchanges would include the creation of a 5-man boardof reviewr, with broad power to overrule decisions of thePrice Administrator, and elimination of licenses as arequirement for conducting transactions. Rent controlwould be liberalized to include all units within defenseareas. However, buying and selling in the open marketwould be limited to domestic markets for the purpose ofstimulating output of marginal producers. The abilityof other Government agencies to make purchasesthroughout the world (as nowO would- of course beunaffected. Finally, the ceiling on agricultural priceswould be established not lower than the highest of threealternatives: a price equal to 110 percent of parity,the market price prevailing on October 1, 1941, or theaverage price for the period July 1, 1919, to June 30,1929.

Christmas Trade

The unprecedented increase of income payments iscurrently creating an extraordinary volume of pur-chasing for the Christmas season. It is estimated thatconsumers will spend close to 5.5 billion dollars in allretail stores during the month of December. Thoughsuch an aggregate exceeds last year's high by approxi-mately one-sixth, more than half of the advance isattributed to higher prices. To an increasing degree,dollar sales comparisons with a year ago reflect thisprice advance.

Most retail outlets normally do a much heavierbusiness in December than at any other time duringthe year (see figure 1). Exceptions are provided in afew cases, such as automotive stores, filling stations,hardware, and building materials dealers, all of whichmove seasonally downward. But December sales ofapparel and general merchandise stores have in recentyears stood 60 percent above the average monthlyvolume, while December buying from stores specializingin household furnishings, food, and drugs recordedincreases up to 40 percent.

This year the pattern of Christmas sales is beingsomewhat modified by restrictions already in effecton the output of certain durable goods. Thoughprices have increased substantially, the value ofpurchases from automobile dealers in the final quarterof the year is estimated to be down about 8 percent,as compared with the like period in 1940. Similarly,sales receipts of building material and hardware dealerswhich in the third quarter were approximately a thirdhigher than a year earlier, now are being reduced asdifficulties are encountered in obtaining promptdelivery for stock replacements.

* Survey of Current Business, August 1941, p. 3.

SURVEY OF CURRENT BUSINESS December 1941

Notwithstanding these and other instances of short-ages, including some of the electrical appliances, indica-tions point to an adequate over-all supply of Christinasgoods. Seasonal items, of course, are generally pur-chased by dealers well in advance, and stocks have beenexpanded markedly in anticipation of the heavy year-eml business. The adjusted index of department storestocks stood at 97 in October, 26 percent above theJune figure. A year earlier the index had been 7.1. Of

Figure 1.—Sales of Retail Stores by Kinds of Business

(MILLIONS OP DOLLARS)

ALL RETAIL STORES V DURABLE-GOODS ' NONDURABLE-GOODS

NONDURABLE-GOODS STORES

GENERAL

FOOD

MERCHANDISE

I1

1/

"SKA**''1*"*"

APPAREL

EATING ANDDRINKING PLACES

, 0 .

FILLING STATIONS

DRUG

i Includes data for "Other Retail Stores" Group not shown separately in this chart.

Source: V. S. Department of Commerce.

course, part of the rise in the index has been occasionedby advancing prices.Sales for Year in Record Volume.

This year's peak Christinas season climaxes a recordtrade year. Sales of all retail stores are expected toapproximate 54 billion dollars, an increase from 1940 ofmore than one-sixth. The gain over the previous yearwill be lower in the fourth quarter than in the third.In part, this has been the result of the relatively highsales volumes in the final quarter of 1940. It alsoreflects some consumer stocking during the late summerseason and the declining supply of consumer durablesavailable for purchase.

Because the demand for durable goods fluctuateswidely with changes in the level of income, sales ofautomobiles and supplies, household furnishings, build-ing materials and hardware all show the most sizableyearly increase—about one-fourth in each instance.

However, as pointed out above, these are the lines inwhich gains are now being cut extensively.

Of stores specializing in nondurables, apparel shops(whose summer sales were particularly heavy) reportthe heaviest advance for the year, the value of theirsales rising more than one-fifth. Food stores made anunusual gain even in relation to the level of income—rising one-sixth. A similar rate of gain is indicated foreating and drinking establishments which have experi-enced a substantial growth in business in recent years.General merchandise stores, including those in ruralregions, have increased sales one-eighth on theaverage.

In the September issue of the Survey it was suggestedthat sales volumes, in the main, were not out of linewith those expected at the existing level of income.This conclusion need not be altered on examination ofthe record for the year as a whole. However, it isapparent that the pattern of sales is to be radicallyaltered over coining months, with the aggregate becom-ing increasingly dependent on production factors gov-erning supply. Henceforth, the influence of demandfactors, dominant over the past decade, will be limitedto an increasing degree.

Industrial DisputesThe concentration of the Nation's productive forces

on defense has today given a unique importance to theindustrial disputes which have occurred with increasedfrequency this year. An examination of the recordreveals that the number of workers involved in workstoppages has exceeded any other year since 1919.On the other hand, settlements have been greatlyspeeded, with a consequent modification of the increasein man-days idle.

As shown below, wage rates and union recognition(in many instances either a preliminary phase or partof the wage dispute) have been the principal issues.Wage rate changes were relatively few in 1940, thoughaverage weekly pay rose from $25.51 to $27.89, inpart because of an increase in average weekly hoursfrom 37.4 to 39, and also the result of some upgradingof labor in keeping with requirements of defense pro-duction.

During the current year, wage rates have beenadvanced substantially. In the first three quarters ofthe year, about half of the factory wage earners, reportedto the Bureau of Labor Statistics, received an averagewage advance of 8 percent—an advance contributingmarkedly to the further increase in average earningsto $32.01 in September, though a rise in hours to anaverage of 40.9 weekly and continued upgrading alsowere relevant factors.

Real earnings also have advanced—weekly factoryearnings had increased 15 percent and hourly earnings11 percent from December 1940 through September;whereas, the cost of living had risen 9 percent through

December 1941 SURVEY OF CURRENT BUSINESS 5

October. Rising wages are, of course, a normal devel-opment in a period of expanding output. Produc-tivity is increased, unit costs are lowered with thespreading of overhead, and sales volumes are expanded.Under these circumstances both profits and wagesmay be increased, and usually are, without a corre-sponding offset in the cost of living.

Such has been the case this past year as a result of therecord rise in output engendered by defense needs.At this stage in the defense program, however, it isclear that no group within the community will be ablecontinuously to increase its real income. Defenseofficials predict an outlay on arms production which,given the raw materials in sight, will preclude this.

Figure 2.—Man-Days Idle During Strikes

MILLIONS OF MAN-DAYS8

6

4

2

0 "I 1 i l l ! I I

A

I ! ! 1 1 1 1 1 1 11940

Source: U. S. Department of Labor.1941

Nor is the ability of labor to increase its real incomeat the expense of profits unlimited. This year cor-porate profits as a whole—limited by rising taxes—will be in the nature of one-tenth of aggregate wagesand salaries. Thus, a further general advance in wagerates—if it were to be large—-would undoubtedly bereflected in higher prices. For this reason, and becauseof the possible effect of work stoppages on defenseoutput, industrial disputes have assumed an extraor-d in a ry signifi canc e.Quick Settlement of Most Disputes.

The number of workers out on strike at some timeduring the 10 months through October totaled 2,159,-000—about 5 percent of those engaged in n on agricul-tural enterprise. This exceeds the 1,966,000 out duringthe full year of 1937—the previous high for more than2 decades—and is nearly 4 times the 1940 aggregate.During World War I, the average for 1917-18 was1,234,000 (less than 1 percent of nonagriculturalemployment), but the all-time peak was reached afterthe war in 1919 when 4,160,000 workers went out onstrike.

April has been the high point this year, with 564,000employees involved, largely in disputes within the auto-mobile and coal mining industries. After a decline to217,000 in July, the number rose to 366,000 workers inOctober.

The actual number of man-days idle this year as aresult of industrial disputes is smaller than in 1937because of the rapidity with which strike settlements ortruces currently are being effected. Employees have,through October, been out only about 10 days on theaverage, compared with 11 days in 1940 and 15 daysin 1937.

Only in 1 month, April, have the man-days idleexceeded 1 percent of the available man-days of work.2

For the first 10 months as a whole, idle man-days were0.4 percent of the total work available.

Disputes Most Serious in Coal.Work stoppages, of course, have been more inportant

in some industries than in others. The largest shut-downs have occurred in bituminous coal—an industryof basic importance. There the work stoppage in Apriland a number of smaller ones had resulted in 5.6 millionidle man-days through August (the latest data reported),about one-third of the total for all lines and close to one-tenth of the aggregate man-days available for miningbituminous coal during that period.

Table 1.—Man-days Idle During Strikes in Specified IndustryGroups, January Through August, 1941 *

Man-days idle

Industry or groupNumber

All industries. .

ManufacturingIron and steel and their products, excluding

machineryMachinery, excluding transportation equipmentTransportation equipmentNonferrous metals and their products __Lumber and allied productsT ex tiles and their productsChemicals and allied products..

Bituminous coal miningBuilding and construction _ _

17,148,000

8, 953. 000

012,0001,867.0001.899,000

273,000877,000

1,072,000215,000

5. 553,000814,000

Percentof total

man-daysof work

available *

0.37

.54

.46

.661.19. 46.75.35.29

9 43".W

! figures not final; subject to changes as further information is received.2 See footnote 2 to this page.

Source: U. S. Bureau of Labor Statistics.

The record for the more important manufacturing*industries in the first 8 months this year is presented intable 1. Workers manufacturing transportation equip-ment were out 1.9 million man-days. Disputes inmachinery-prod ue in g' industries—import an t to d ef en se—resulted in about the same amount of idleness, whiledisagreements in textiles reduced work over 1 millionman-days. The iron and steel industry and the lumberindustry lost approximately 900,000 man-days each.In terms of the proportion of work available, man-daysidle ranged downward from 1.2 percent of the total intransportation equipment to small fractions of 1 per-

2 The ratios of man-days idle during strikes to man-days of work available are per-centages computed by the U. S. Bureau of Labor Statistics on a basis excluding occu-pations where strikes rarely, if ever occur: Government workers, agricultural wageearners on farms employing less than 6, managerial and supervisory employees, selfemployed persons, and certain other groups wrhich, because of the nature of their work,generally cannot or do not strike, such as teachers, clergymen, and domestic ser vauts.

6 SURVEY OF CURRENT BUSINESS December 1941

cent for most manufacturing industries. The over-allaverage for manufacturing alone was about 0.5 percent.

The Office of Production Management reports thatwork stoppages in the plants of primary contractors,subcontractors and their suppliers, or in the trans-portation and handling of defense materials and parts,which were thought to have occasioned (or threatened)actual interruptions in the output of final defense prod-ucts amounted to approximately 2,370,000 man-daysduring the 10 months through October.3

This is the equivalent of about 11,000 workers con-tinuously on strike, whereas defense employment prob-

Figure 3.—Wage-Rate Increases in Manufacturing Industriesby Quarters

PERCENT RECEIVING INCREASES _ _

4 o r " | ' j

9 2%

30 iPERCENT ON BAR REPRESENTS

AVERAGE OF WAGE-RATE INCREASES

2 NO. 3 RO

19402ND. 3RO

1941

NOTE.—The height of each bar represents the percent of workers receiving wagerate increases, as reported for the sample of manufacturing employees in the monthlyemployment and pay-roll survey of the U. S. Bureau of Labor Statistics. The widthof each bar represents the average percentage increase in the wage rates of thoseworkers receiving advances.

Source: U. S. Department of Labor.

ably averaged between 2 and 2.5 million for the sameperiod. Since June, strikes in defense industries haveshown an intermittent tendency to increase. However,in October they were only two-fifths of their Marchpeak and amounted, at most, to not over 0.3 percentof defense working time. Of course, these statisticsdo not measure the full influence of work stoppages ondefense output, They omit such losses as occur whenoperations and assembly lines are curtailed in relatedindustries dependent on the struck plants for materials.Moreover, slowdowns and other such devices are notincluded in the statistics.

Success in Conciliation and Mediation.

Because work stoppages today are invested with anunusual degree of national interest, extraordinaryefforts have been undertaken by the Government toact as conciliator or mediator in industrial disputes.The most active agency in this respect is the Concilia-tion Service of the United States Department of Labor,which assisted in the settlement of industrial disputes

3 The less important strike stoppages in defense plants, and those that did not inter-rupt (or threaten to interrupt) the output of final defense products are excluded fromthis figure. However, the data do include strikes on the more important defenseconstruction projects. The War Department reports for the first 10 months, 3,909,000man-days idle during only those strikes which affected the operations of War Depart-ment contractors and subcontractors, and certain of their suppliers. This figure,however, appears to have been compiled, in the main, without reference to whetheror not actual interruptions in the output of final defense products were, involved.

(exclusive of those finally turned over to the NationalDefense Mediation Board) involving 2,410,134 workersduring the first 10 months this year. In the cases of1,638,000 workers (68 percent) strikes were avoided.

Table 2.—Strike Issues and Settlements

Major issues

All major issues ,_.. . .

Wages and hours -Union organization.-,. . _

Recognition 3 . . . . . . . .......Closed or union shop . ..

MiscellaneousSympathy strikes ..Rival-union, factional, and jurisdic-

tional disputes 4. .

Percentage of strikingworkers involved |

100.0

22.4 i59.8 j48.4 ;6.2 i

17.8 i3.0 :

4.5

1940

100. 0

41.033.112.411.025.90.9

4.6

|i

iJanuary-August |

1941 |

I

100.0 I

53.4 !33.7 i23.2 ;3.5

12.92.0

5.0

Percentage*of striking

workersreceiving

substantialor partial

! gains, or1 corn pro-

I settle-ments,

j January-August

1941

-91.4

94.0; 91.5i CO! (2)'• i 74. 6' ( • )

1 Exclusive of rival-union, factional, and jurisdictional disputes.2 Not available.2 Includes union recognition strikes which also involved wages and/or hours as :i

secondary issue.4 It is probable that the figures here given do not include all jurisdictional strikes,

because the local nature of these disputes makes complete information difficult toobtain.

Source: U. S. Bureau of Labor Statistics.

The effectiveness of this agency is, of course, limited.It tries conciliation and does not mediate. For thisreason, the President established the National DefenseMediation Board in March of this year, and theSecretary of Labor certifies disputes to it which theConciliation Service cannot settle successfully. TheBoard, which includes representatives of labor, man-agement, and the public, then attempts a settlementand makes formal recommendations where necessary.

In all, 109 cases involving 1,187,000 workers were socertified to the National Defense Mediation Boardthrough November. Of these, 77 (776,000 workers)had been settled to that date in negotiations before theBoard or upon the basis of its recommendations. Invirtually all cases, strikes either have been avoidedentirely or have been terminated at the Board's instancebefore final settlement was reached.Wages, Union Recognition Principal jStrike Causes,

The causes of industrial disputes are complex.Ultimately labor organization seeks to raise wages andto improve other working standards. But the imme-diate cause of dispute often lies in an intermediate step:the recognition of the labor organization as a bargainingagency.

Indeed, in past years, disagreement between laborand management concerning union organization hasoften been a dominant immediate cause of dispute.Thus, in 1937 this question contributed to the strikesaccounting for at least three-fifths of all workers in-volved in disputes, while union recognition was themajor issue in strikes which included a fifth of all

December 1941 SURVEY OF CURRENT BUSINESS

workers involved. Disputes primarily concerning wagesand hours covered another fifth of all striking workers.

In the past few years, however, unionism has achieveda substantial measure of recognition with the resultthat immediate causes of industrial disputes have al-tered considerably in relative importance. This yearw ages and hours have been the principal issue of con-tention in more than a third of all strikes, but thesestrikes accounted for more than half of the aggregateof striking labor. Questions of union organization haveentered into half the disputes, but such disputes in-cluded little more than a third of all workers going onstrike. Union recognition was the major issue in atenth of the strikes, and an eighth of the total strikinglabor was involved. The closed or union shop and astronger bargaining position were the major issues forabout 8 percent of the striking workrs, jurisdictionaldisputes for 5 percent, and sympathy strikes 2 percent.

As pointed out above it is not unusual that periodsof rising industrial activity generally are accompaniedby an increase in the number of industrial disputes.The bargaining strength of labor is augmented at thattime, while management is in a better position to grantreasonable concessions in view of higher profits; more-over, management is in a worse position to withstandw ork stoppages because of the possible damage to thefirm's position.

Hence, as expected, an examination of wage ratechanges shows them to be widely distributed through-out industry. This is in part the result of the establish-ment of minimum wages under the Fair LaborStandards Act of 1938. About 900,000 workers inmanufacturing have been affected by this Act sincethe first of the year. However, many of those indus-tries which have a relatively heavy union membershipappear to have received widespread wage advancessomewhat earlier than a number of others. In a labormarket such as that now existing, non-union firms, bothin the same industry and in other industries using laborof comparable aptitude, must also advance wages inorder to retain labor. Today an advance in wage ratesfor any reason is much more likely to be generalizedthan in most other periods since the last war.

That employers have granted concessions is evidentfrom the high proportion of strike settlements whichhave resulted in labor's gaining a considerable part ofits demands. Altogether, more than nine-tenths of thestriking workers have received such settlements, nomatter what the immediate cause of the dispute.

Corporate Earnings Higher in 1941

Though the rise in net earnings has been limited byadvancing labor and material costs, as well as by sharplyincreased tax levels, the year as a whole will record asubstantial increase in corporate profits. For the secondhalf year, the rate of advance over the year earlierperiod will be much less than that of the first 6 months,

not only because of the above mentioned factors butalso because the second half of 1940 was quite profitableas a result of the general advance in business at a timewhen considerable slack in the productive capacity ofthe country was in existence. The expansion of outputin the current half year—limited by material shortagesand incident to the high level already reached—hasbeen slow by contrast.

Both large and small corporations will show higherearnings this year, but current data are available foronly the former group. Profits of 633 large industrialcorporations as recorded by the Federal Reserve Boardwere almost a third higher for the first 9 months of thisyear than in the like period of 1940. As compared withthe first 3 quarters of 1939, they had advanced aboutthree-fourths.

Quarterly changes since the final quarter of 1940have, however, been small. To date, peak returns for

Figure 4.—Quarterly Earnings and Tax Reserves for 122 LargeIndustrial Corporations \

MILLIONS OF DOLLARS500 I

400

300 ™ —

200

100

EARNINGSBEFORE TAXES

Source: Board of Governors of the Federal Reserve System.

the current upswing were reported in the fourth quarterof last year (8 percent above July-September 1941earnings). However, a variety of accounting adjust-ments necessary at the year end reduce the significanceof final quarter statements insofar as they are used asan indication of the profitability of current operations.Higher Taxes and Wages Stabilize Earnings.

The rising wage rates reviewed above -particularlythose in the second and third quarters—have beenpartially responsible for stabilizing profits at theircurrent levels in the face of expanding output. Aspreviously suggested, many costs change but little inthe aggregate with increased output, and the unit costof production declines. This factor, along with otherpossible economies of scale and larger sales volumes,3rields a heavier profit volume unless countered bysufficient advances in labor or material costs.

In many lines higher prices have offset advancingwage costs since February, at least in part if not alto-gether. That this has not been reflected in a furtherrise in profits can be attributed to increased taxes.


The limiting influence of taxes on profits is evident fromthe movement of earnings before and after taxes, pre-sented in figure 4. This tabulation, made from thestatements of 122 large industrial corporations by theFederal Reserve Board, shows that in the first 9 monthsof 1.941 earnings of these companies before taxes hadincreased 570 million dollars, or 90 percent, over a yearearlier; whereas, the gain in earnings after taxes wascut to 110 million, or 25 percent. As contrasted withthe like period in 1939, profits before taxes had expandedtwo and three-quarter times, while those after taxeswere about 160 percent of the 1989 aggregate.

Thus, the major part of the profits gain of thesecompanies has been earmarked as a tax reserve. Alto-gether, close to half of the 9 months' increase in 1940was set aside for taxes, and four-fifths of the increasethis year has been disposed of in a like manner. Suchreserves claimed only 17 percent of earnings beforetaxes in the 1939 period, but this year they are taking53 percent of a much larger gross profits volume.Altogether, the 122 companies herein considered haveaccumulated 1941 tax reserves amounting to 638 mil-lion dollars, while their- reported earnings (after taxes)total 566 million.Large Rise in Earnings of Durables.

The largest net income gains have appeared in thoseindustries expanding output the most considerably. Inthe main, production has risen to a greater degree indurable lines than in the nondurables. Nine-monthprofits of large corporations producing the former wereabout two-fifths higher than a year earlier, while largecorporate producers of nondurables show profits upabout one-fifth.

The heavily capitalized iron and steel industry wherelist prices have remained relatively unchanged, substan-tial wage advances have been granted, and accountingreserves have been liberal—shows a 9-month increaseof 39 percent. Returns of automobile companiesand producers of other transportation equipment (in-cluding aircraft) are half again higher than a year pre-vious, while machinery and nonferrous metal producersreport net profit gains of more than a fourth.

An especially sizable advance is evident in the lumberindustry, where statements from 8 large companies indi-cate earnings for their year have more than tripled.Part of this gain again is due to rising prices, quotationsin this line having been marked up much more than inthe metals.

Among the producers of nondurables, petroleumcompanies report returns up almost one-half, and papercompanies show an earnings gain of two-fifths. On theother hand, representative companies turning out variouschemical products in a steadily expanding volume reveala relatively small advance of 7 percent in their netreturns. Food and textile manufacturers, currentlyexperiencing an extraordinary demand and offsettingrising material and labor costs with higher prices.

report 9 months' profits are an eighth higher than in1940.

The Rise in Export Aid

One mark of progress in the country's defense effortis the recent improvement in the flow of export aid.From the outbreak of war until this summer, the move-ment of United States merchandise abroad rangedbetween 942 million dollars and 1,076 million per quar-ter, or roughly double the average in the thirties. Inthe July-September quarter, however, shipments roseto nearly 1,200 million dollars.

Table 3.—Exports of United States Merchandise[Millions of dollars]

Third quarterCommodity classes

Total exports...

Total non-agriculturalIron and steel productsIndustrial machineryAutomobiles, trucks, bussesPetroleum and productsPaper and manufactures .. _Industrial chemicalsAircraft and parts iFirearms and ammunition....

Total agriculturalFoodstuffs2

Cotton, unmanufacturedTobacco, unmanufactured

1941

1,186.4

997.8143.0104.038.8o2.716.013.595. 308. 6

188.6139.125.417.5

i

1940

943.4

863.6173. 3108.019.665.818.513.360.221.0

79.854.916.68.0

759.3

609.067.273.524.0

102. 17. 58.8

21.3

150.372.853.521.7

1 Figures cover July and August of each quarter, only.2 Includes a small amount of non-agricultural foodstuffs.Source: U. S. Department of Commerce.

Both exports and imports are now instruments ofnational policy, moving only under extensive Govern-ment controls and little related to the normal mecha-nism of the market.4 Shipments to the British Empire(two-thirds of the total) are in the widest sense ofthe term, military, while the other main current ofAmerican exports—to Latin America (one-fifth of thetotal)—are required in keeping with the policy ofeconomic collaboration within this hemisphere, under-taken to lighten the impact of the war upon the econ-omies of the American Republics. For in pre-wardays, Latin America received one-third of her importsfrom continental Europe, one-eighth from the UnitedKingdom, and some additional supplies from Japan.Today the bulk of these supplies is cut off.

Improved Shipping Situation.

As contrasted with the early winter months, changesin productive, transport, and financial factors haveall combined to encourage a larger export volume.Lend-lease appropriations now total 13 billion andare available for aid throughout the British Empire.Moreover, our imports from the American Republicshave increased about a fourth, thus easing the exchangeproblem faced by those Nations when their trade withBritain and Europe was curtailed or curbed.

4 See "War Influences Dominate Foreign Trade", Hal Lary, Survey of CurrentBusiness, October 1941, p. 11.


In respect to shipping, public statements fromGreat Britain reveal that some decline has occurredin the rate of sinkings at a time when constructionin this country, at least, is rising, and a more efficientdistribution of the combined shipping tonnage of theUnited States, the British Empire, and its Allies ismade possible by amendments of the Neutrality Act,permitting armed American ships to enter belligerentzones.

For the first three quarters of 1941, deliveries (shipslaunched and fitted out ready for sea) were 126,000,

Figure 5.—Value of Exports of United States Merchandiseby Selected Countries and Regions

MILLIONS OF DOLLARS150

125

100

0

100

UNITED KINGDOM .

—IKj

\4—

\l\l—

CANADA

A

1 1 1 1 ! i 1 1 1 i 1

/


CONTINENTAL EUROPE(INCLUDING U.S.S. R.)

JA/

75

— • 5 0

50

25

1939 1940 1941

Source: U. S. Department of Commerce.

1939 1940

200,000, and 196,000 gross tons, respectively. Final-quarter deliveries are expected to exceed 300,000 grosstons. This indicated total of around 825,000 grosstons is nearly double the 445,000 gross tons deliveredin 1940. Moreover, the record ship program laidout this year is only now beginning to bear fruit.In 1942, a total delivery of some 5,500,000 gross tonsis expected (the largest for any year was 3,375,000 grosstons in 1919), and this does not include possibilitiesthat may exist in the revolutionary, gasoline-driven"Sea Otter" ship now undergoing sea trials.Increased Movement of Finished War Material.

While foreign exchange and shipping undoubtedlyplaced some limitation on exports, the most important

428343—41 2

factor in this regard has been the inability of Americanindustry to produce the necessary goods in the volumesrequired. With the expansion of finished arms capac-ity, this shortcoming is being remedied—but only inpart, for in the current period when output is dominatedby supply considerations and not demand, increasedproduction of war material decreases the availability forexport of scarce materials and semimanufactures em-bodying such materials.

Thus, shipments of such commodities as the non-ferrous metals, iron and steel products, and metal-working machinery, which rose markedly in the latterpart of 1939 and in 1940, have declined this year.Third-quarter exports of these 3 groups were valued at218 million dollars, as compared with 288 million in thelike period 1940. As almost all such products are underpriority control, only essential exports are permitted.

The British Empire/s share of these exports was verylarge (51 percent in 1940), and part of the reductionhas been to them. In the case of South America,allocation authorities are assessing essential needs sothat these may be met, but while this policy willassure a continuous flow of scarce materials, the volumewill be limited by the availability of supplies.

Lend-Lease Aid Up Sharply.

Data on finished arms exports have not recently beenpublished. Shipments of aircraft and engines in Augustwere 52 million dollars, while firearms and ammunition(not including tanks) rose to 27 million, up 39 and 660percent, respectively, from a year earlier.

That the trend of finished arms export is upward,however, is indicated by the President's third quarterlyreport on lend-lease operations. There it was revealedthat total lend-lease expenditure at the end of Novem-ber approximated 1.3 billion dollars, as contrasted with389 million at the end of August. Some of this gainconsisted of outlay on finished armaments, though theadvance was partly offset by a decline in expendituremade directly by the British.

The appropriations made under the first and secondlend-lease acts were broken down as follows:

Thousavds ofdollars

Ordnance and ordnance stores 2, 650, 000Aircraft and aeronautical material 2, 710, 000Tanks and other vehicles 847, 000Vessels and other watercraft 1, 628, 000Miscellaneous military equipment 431, 000Facilities and equipment 977, 000Agricultural, industrial, and other commodities 3, 043, 000Testing, reconditioning, etc., of defense articles 341, 000Services and expenses 325, 000Administrative expenses ... _ _ 20, 000

Total 12, 972, 000

Direct war material (exclusive of ships) accountsfor about one-half of the total, with aircraft and aero-


nautical material the largest of such categories (21percent of all appropriations), closely followed byordnance and ordnance stores (20 percent). Agricul-tural, industrial and other like commodities wouldrequire about one-fourth of total appropriations. Ofcourse, not all lend-lease aid is reported in exportstatistics, as expenditures for facilities necessary toproduce some equipment, as well as outlay on shiprepair in this country, are both important items.

To date, the largest outlay and the heaviest ship-ments under lend-lease have been foodstuffs. ThroughNovember, more than one-half billion dollars hadbeen expended on such products, about 38 percentof the total lend-lease outlay at that time.

Third-quarter shipments of foodstuffs was the largestin a decade, 139 million dollars or slightly more thanwas shipped in the entire first half of the year.

The movement of foodstuffs has completely reversedthe agricultural export picture insofar as the aggregateis concerned, for shipments of farm commodities duringthe winter were the lowest in many decades. However,the totals cover a fundamental shift in the pattern.Shipments of the traditional export commodities—cotton, tobacco, and grain—are still extremely low, andthe present movement consists primarily of such con-

centrated protein foodstuffs as cheeses, processed milkand eggs, lard, pork, canned beef and chicken, beans,and in addition some fruits and vegetables, mostlycanned or dried, and corn.

Further Rise in Exports Expected.

Of the 406 million dollar export total in September,about one-half was shipped under lend-lease. inOctober lend-lease exports rose to 225 millions. Thegrowing ability of American industry to furnish neces-sary war material should push the movement of goodsahead as rapidly as shipping facilities permit through-out this winter. With total lend-lease appropriationsof 13 billion dollars, a monthly defense expenditurethat will exceed 2 billion, and Latin American needs tobe met, a further advance in exports is inevitable. Inthis connection, it is of interest to note that in 1920,shipments averaged 673 million dollars monthly, butthe index of unit value then stood at 156; whereas, itnow is 76. Monthly exports in 1918 rose to 504 million,though this figure did not include goods carried toFrance by Army transports, estimated to have totaled1.5 billion dollars for the war period. Despite thelower prices today, even these dollar peaks should beexceeded within the coming year.


Factors Influencing the General Movementof Prices in Great Britain

By E. R. Hawkins

The wartime experience with price control in GreatBritain is of interest because some of the problemsconfronted there differ from our own only in degreeand circumstance. Because of relatively greater unusedcapacity here, our price problem has not as yet becomeso acute; however, the basic forces at work are the same.The present article and a subsequent one will examinethe causes of the price advance in Great Britain,describe the various measures that have been adoptedto control prices, and evaluate the effectiveness of thosecontrols.

From the outbreak of the war to September 1941 theBritish Board of Trade's wholesale price index rose 57percent (fig. 6). The Ministry of Labour's cost-of-liviiig index advanced 28 percent (fig. 7). The funda-mental causes of these large price increases have been,of course, the increased demand for goods and decreasedcivilian supplies. These have been persistent forcessince the beginning of the war, but the relative im-portance of various aspects of these basic causes hasbeen different in different periods, partly as a result ofdeliberate government policy.

Three periods may be distinguished: the first, fromthe outbreak of the war until the end of 1939, wascharacterized by rapid price advances caused chiefly bydepreciation of the pound sterling and rising prices ofimports; the second period, covering roughly the year1940, witnessed further substantial price rises, resultingprimarily from increased government expenditures forthe war effort, particularly after the fall of France; inthe third period, 1941 to date, price increases have beenmoderate, largely as a result of the various controlmeasures to be discussed.

Rise in Import Prices at Outbreak of WarWholesale prices rose 25 percent in the first four

months of the war. Figure 6 indicates that this ad-vance was led by basic material prices, which increasedabout 40 percent. Virtually all of these basic materials(except coal and iron ore) are imported by Great Britain.

The reasons for the rise in prices of British importsare complex. One of the chief factors was certainly thedepreciation of sterling. For some months prior to theoutbreak of war, the British Equalization Fund had heldthe pound in terms of dollars at around $4.68. OnAugust 25, 1939, the Fund suspended this intervention

i This is the first of two articles on the control of prices in Great Britain.It deals with the over-all fiscal and indirect controls of the general price level. Thesecond, which will appear in an early issue, is concerned with the direct control ofspecific prices.

and the rate fell to $4.20 on Saturday, September 2.On September 5, 1939, the Bank of England establishedan official selling rate for United States dollars at $4.02and on January 8, 1940, raised it to $4.02& Thisdepreciation of the pound, of course, resulted in highersterling prices for imported goods. •

The question of whether this depreciation of thepound could result in a redress in the trade balance isnot easy to resolve. The balance of payments of theUnited Kingdom had shown substantial deficits ontrade and service accounts in preceding years. What-ever judgment might be rendered upon the efficacy ofcurrency depreciation as a stimulus to exports underoilier circumstances, it appears that in the war situation

Figure 6.—Indexes of Wholesale Prices in the UnitedKingdom

AUGUST 1930 = IOO200

IOO

80A S 0

BASIC MATERIALS^ ^~~'"~~

^.---^ ^J^^^^^l..' ^^^r? -.-^ ^ S * ^ S —— S ^MANUFACTURED

'' : INTERMEDIATE PRODUCTS

ARTICLES

19411939 1940

»Includes some items not shown separately on this chart.Source: Indexes were recomputed wittf August 1939 as base from data published by

the Board of Trade, London.

difficulties of supply and transport precluded anyincrease in exports from the United Kingdom.2

However this may be, a result of depreciation was arise in the cost in pounds of acquiring war suppliesoutside the sterling area, and a direct stimulus towardan internal price rise. The effect of this stimulusinvolves the whole problem of war finance, particularlythe expansion of government expenditures in relation totax revenues and loans. In the present connectionthe significant point is that general government fiscalpolicy did permit the exchange depreciation to result indomestic price advances.

A second factor affecting the prices of 'rnports inthis period was that prices of British imports were rising

2 Maffry, August, "The Depreciation of the Pound Sterling," Swvey of CuiitntBusiness, November 1939, p. 11. See also Balogh, T., "Foreign Exchange and ExportTrade- Policy/' Economic Journal, March 19-10.


in their countries of origin. This price rise was not, ofcourse, independent of British developments. In largepart it was a speculative rise induced by the outbreakof war. Its significance is that it meant greater Britishexpenditures for imported goods.

Between mid-August and the end of December, theBank of England's index of 15 basic commodity prices,computed separately for the United Kingdom and theUnited States, rose 27 percent and 20 percent, respec-tively. (See table 1.) This comparison is significant,for the items included in this index are ones that bulklarge in Britain's imports, and are heavily weighted inthe Board of Trade's wholesale price index.

A third factor influencing the price of imports wasthe sharp increase in shipping and insurance costs inthe early months of the war. The British governmentfixed rates for British-owned tramps, but had to raisethese rates 30 percent on November 1, 1939.3 Laterthe government requisitioned British-owned vessels andin effect leased them from their owners on the basis offixed schedules of monthly hire.

Table 1.—Wholesale Prices of 15 Basic Commodities[Week ended Aug. 19, 1939=100. Index numbers are

for last full week in each month]

Year andmonth

UnitedKingdom

1939August 19..August 26..September..OctoberNovember. -December.

1940JanuaryFebruary..,MarchAprilMayJuneJuly

100.0101. 5110.3113.4120.0126.8

129. 6132.4132.8134.0137. 6137.7138.2

UnitedStates

Year andmonth

United UnitedKingdom States

100.0101.1118.2116.8115.7119.5

110.2115.9113.6117.0110.5110.3106.8

AugustSeptember.,OctoberNovember-.December. -

1941JanuaryFebruary....MarchAprilMayJuneJulyAugustSeptember..

138.9134. 6134. 6135.6133.6

133.8134. 5137.0137. 5136.3136. 2136.4136. 4136. 7

105. 2108. 8114.1114. 9115. 7

118.7118.7126. 6128.5133. 5137.5137.8142.1143. 8

Source: Bank of England Statistical Summary. The items included are identicalfor the United States index and the United Kingdom index, except that the formerincludes coffee instead of tea. The other 14 items are wheat, maize, sugar, beef, cotton-seed oil, pig iron, copper, lead, tin, cotton, wool tops, hides, linseed, and rubber.

While it appears likely that the immediate cause ofthe initial rapid increase in British wholesale priceswas the increase in prices of imported goods, resultingfrom higher world prices, foreign exchange depreciation,and increased shipping costs, these factors are not all"recurring," and therefore do not account for the sub-sequent British price rise. During 1940, the Board ofTrade's general wholesale price index advanced anadditional 19 percent, while the eost-of-living indexrose about 11 percent.Import Price Advances Insignificant in 1940.

World prices of basic raw materials did not riseappreciably during 1940. The British section of TheBank of England's index of 15 basic commodity pricesrose about 5 percent, while the index for the UnitedStates fell about 3 percent during the same period.

3 "Wartime Control of Ocean Freight Rates in Foreign Trade," A. E. Sanderson,Transportation Division, Department of Commerce, 1940. Trade Promotion Series,No. 212.

England cannot, of course, control world prices ofbasic commodities, but it has stabilized many importprices through long-term contracts with the sterling-area countries. In 1939 the British government agreedto buy the entire New Zealand-Australian wool clip forthe duration of the war and 1 year thereafter at fixedprices, subject to negotiation each year. Bacon andcheese are bought from Canada at fixed prices a littleunder the market prices. Dried fruit is bought fromthe Union of South Africa, in lump-sum purchases. Insome cases the Dominion governments sell these goodsto England at lower prices than the producers receive.

Figure 7.—Indexes of Cost of Living, End of the Month, inthe United Kingdom

AUGUST 31, 1939- 100200 1 i !

180

160

140

120

100

800 N 000 4!-S291939 1940 1941

1 Includes some items not shown separately on this chart.

Source: Indexes were recomputed with August 31, 1939 as base from data publishedby the Ministry of Labour, London.

Shortly after the outbreak of war, Great Britain con-tracted to buy the whole of the surplus stocks of copper,refined zinc, and lead of Australia, 80 percent of the cop-per and about 90 percent of the aluminum produced byCanada, and large amounts of the Rhodesian copper—all at pre-war prices. By these contracts, the Empireproducers were assured a market and shipping facilities,and Great Britain was assured supplies at stable prices.4

Foreign exchange rates did not contribute signifi-cantly to the 1940 British price rise, for the officialrate of $4.025-$4.035 was not reduced during the year.

Shipping and insurance costs, however, continued toincrease. In January 1940 war surcharges on cargoinsurance were imposed upon all shipments within thecombat zone. On January 1, 1940, the war risk in-surance rates on cargoes to west coast United Kingdomports from most North and South American pointswas 5 percent of their insured value; the rate was raisedto 10 percent in September. On March 1, 1940, a newschedule of rates for government leases of requisitionedships became effective, with higher rates than thosepreviously specified. At the close of the year a 15-per-cent increase in in-bound shipping freight rates wasput into effect by the Ministry of Shipping.5

< See Backman, Jules, and Fishmaii, Leo, "British War-Time Control of Copper,Lead and Zinc," Quarterly Journal of Economics, February 1941; Ogdon, Montell,"Some Objectives and Problems of Price Control," Foreign Agriculture, July 1941;also "Foreign Commerce Weekly," July 12, 1941, p. 18.

* Foreign Commerce Weekly, November 9, 1940.


Additional evidence that the rise in shipping costswas a contributing factor to British price advances in1940 is found in the fact that the subindex for foodsin the Bank of England's index of basic commodityprices in the United Kingdom continued to rise whileactual quotations on a number of important foods intheir country of origin were falling. Internal factors,including Government control, may have affected theBritish prices, but since the index is composed largelyof imported goods, at wholesale prices, it is likely thatthe rise in shipping costs was an important factor inthe increased spread between prices in Great Britainand prices in the country of origin.

The rise in shipping costs does not alone, however,account for the entire rise in prices in 1940. Evidencethat the continuing price advance stemmed, in themain, from some other source was present in theclimbing price quotations for purely domestic goods:For example, coal prices increased about 15 percentduring 1940.

As suggested previously, the reason for these priceincreases lay in the increase in demand for goodsrelative to the supply.

Decreased Civilian Supplies

The total supply of goods available in the UnitedKingdom has undoubtedly increased, despite the re-duction in many imports and the growth of the armedforces. Supplies available for consumers, however,have decreased. Although output statistics are nolonger made public, competent observers estimate theincrease in total production at from 5 to 10 percent.6

The total supply of steel is estimated to be greaterthan at any time before the war.7 Securing adequatesupplies for the war effort and for the maintenance ofthe civilian population is the basic need, to whichfinancial control is merely a camp follower. Examinedfrom the standpoint of price control, however, in-creasing supply is one method of limiting price increases.

Heavier imports afford one source of expanded sup-plies. Contracts with the countries of the sterling area,mentioned above, have been of extreme importance inassuring much of the needed foodstuffs and raw mate-rial, at least at their source. Lend-lease aid to be men-tioned later, did not, of course, constitute a factor in thesupply situation in 1940.

England has also made great efforts to increasedomestic production. The Ministry of Food has sub-sidized domestic agricultural production by buying theentire output at high prices, and taking a loss on resaleto distributors.8 Food acreage has been increased byploughing 3,750,000 acres and by bringing 100,000-150,000 acres of submarginal land into production.

«Kaldor, N., "The White Paper on National Income," Economic Journal, June-September 1941; Pigou, A. C , "War Finance and Inflation," Economic Journal,December 1940.

' Economist, August 23,1941.' Ogdon, op. cit.

(The cultivated area in the United Kingdom in 1939 was60,300,000 acres.)

Notwithstanding the expansion of over-all output,it has been necessary to make substantial reductions inthe supplies of goods available for the civilian markets.This has been effected through Government ownershipof raw materials, control of food by the Ministry ofFood, and the operation of Limitation of SuppliesOrders.Limitation of Supplies Orders.

The Limitation of Supplies Orders restrict manufac-turers and wholesalers of most non-food consumers'goods in their sales to retailers. The purpose of theseorders, which are issued by the Board of Trade, is todivert resources from the production of goods fordomestic consumption to production for war purposesand that part of the export trade necessary to obtainneeded exchange abroad. In this sense, the orders per-form a function similar to that of the prioritiesmechanism in this country.

The first general order, issued in June 1940, restrictedsales to retailers for the period June 6-November 30,1940, to two-thirds of the value of such goods suppliedin the base period of 6 months ending November 30,1939.9 The products covered included: clothing, toys,musical instruments, office appliances, cosmetics andtoilet preparations, carpeting, pottery, luggage, cameras,jewelry, vacuum cleaners, refrigerators, washing ma-chines, wringers, lawn mowers, dish washers, metalfurniture, furniture made of cane or wicker, mattresses,and other household goods.

A new Order, effective December 1, 1940, addedmany goods to the controlled list, sharply reducedquotas, and set up a new base period, December 1,1939, to May 31, 1940.10

Some of the quotas, as they stood for the periodJune 1—November 30, 1941, are as follows: (the per-centage figures represent the percentage of sales in thebase period that may now be supplied) mattresses,carpets, saucepans, razor blades, fibre suitcases, 50percent; pottery, 40 percent; luggage, wicker or canefurniture, 33}i percent; glassware, 26/3 percent; metalfurniture, cutlery, pots and pans, cameras, radios,gramaphones, electric appliances, refrigerators, vacuumcleaners, fans, mowers, washers, 25 percent.

It should be observed that these quotas are in termsof money values of goods. In view of the rise in prices,the limitation on physical volume is larger than thesefigures indicate.

Limitation of textile sales in the home market wasaccomplished through separate Limitation of SuppliesOrders. For the period April 1 to September 1941,the permitted quotas were, for rayon, 40 percent of thesales in the period April 1 to September 30, 1939, and

« Limitation of Supplies (Miscellaneous) (No. 5) Order, 1940 (S. R. & O. 1940,No. 2031).

io Limitation of Supplies (Miscellaneous) (No. 5) Order, 1940 (S. R. & O. 1940,No. 2031).

14 SURVEY OF CURRENT BUSINESS December 3 941

for cotton, linen, and silk, 20 percent. The quantityof textile output and sales is now controlled largelythrough a clothing rationing system, the Limitation ofSupplies Orders having been modified to exempt cloth-ing wholesalers from restriction and to free manufac-turers from quota limitations on garments and house-hold goods.

Certain items may not be produced at all for thedomestic market, e. g., automobiles, wooden furnitureand silk stockings.

As a result of these various restrictions, the physicalvolume of sales decreased about 20 percent betweenthe beginning of the war and the first quarter of 1941(fig. 8).

Figure 8.—Indexes of Real Civilian Consumption in GreatBritain, Adjusted for Seasonal Variations

7 0 —- T

601939 1940 1941

0 D 41-525

* Includes some items not shown separately on this chart.

Source: G. D. N. Worswick in the Bulletin of the Institute of Statistic?. Oxford.

The volume of food consumption fell about 13 per-cent. It should be remembered that about 3 millionpersons wrere withdrawn from the civilian populationto the armed forces. Allowing for a 5 to 7 percentdecline in civilian population, it may be calculatedthat civilian consumption per head fell about 13 per-cent for all goods, 8 percent (as a minimum) for food,and 35 percent for clothing.11

By the summer of 1941, the volume of goods (otherthan food) available for sale to consumers has decreased50 percent, according to an estimate of the HendersonCommittee on Retail Trade.12 This estimate appearshigh, in view of the sales data presented in figure 3.While the Henderson Committee did not explain thebasis of its estimate, it stated that the full effect of thereduction has not yet been felt in retail sales becauseof the existence of a "cushion" of accumulated stocks,now rapidly diminishing.

Stocks are estimated to have been reduced at anannual rate of about 17 percent during the first half of

11 Worswick, G, I). N.. "Turn-over and Population Movements," Institute ofStatistics, Oxford, Bulletin, vol. 3, n. 10, July 19,1941. Another estimate, however,is that civilian consumption per head fell 10 percent for all goods and 15 percent forfood, in the first year of war. See Maizels, Alfred, "Consumption, Investment, andNational Expenditure in War Time," Economica, May 1941,

" Board of Trade Journal, August 9, 1941.

the second year of war.13 Reduction of stocks has, ofcourse, been a factor retarding price advances. Out-put of consumers* goods decreased so much, however,that a net decrease in the physical volume of goodsavailable for sale resulted, with consequent effects onthe level of prices.

Increased Demand

The chief inflationary force in Great Britain, as inthis country, lias been the rapid expansion of Govern-ment expenditure. Goverment expenditure would notraise prices if it were accompanied by an equivalentdecrease in civilian expenditure, e. g\, if it were financedentirely by taxation, or if it were accompanied by aproportionate increase in production. Unless appro-priate steps are taken to bring about decreased con-sumer spending, however, such spending is actuallyincreased. Government monetary expenditures mustbecome income to private individuals and companies,thus increasing their effective demand. If excess plantand labor are available for an adequate expansion ofoutput, this increase in purchasing power need notresult in increased prices. One of the principal dis-tinctions between the British situation and that of theUnited States has thus far been the relatively greaterunused capacity of this country, making it possible toreduce the pressure on prices by achieving an over-allexpansion of supplies.

The Government might ensure a decrease in civilianexpenditure by taking up the necessary purchasing-power by taxation. Since this is not expedient politi-cally, wartime governmental policy usually involves anattempt to absorb a portion of civilian purchasing-power by borrowing. Inevitably, real personal con-sumption must be reduced by the amount by whichthe increase in Government consumption exceeds theexpansion of total supplies. If the necessary declinein consumption is not secured by taxation and savings,it will be brought about by rising prices, as the Govern-ment bids away the resources it requires.

The problem of preventing this price rise is differentfrom the purely budgetary problem of the Government.The Government must balance its expenditure in someway. It can do this by taxation, borrowing, or issuingfiduciary money. But the borrowing could be frombanks, and represent an increase in credit rather thanreal savings. This answers the Government budgetproblem, but does not solve the problem of preventinginflation. To prevent inflation it is necessary thatGovernment borrowing represent "real savings," i.e.,a reduction in total civilian consumption.

The inflationary gap is the difference between thevolume of purchasing power in the hands of the civilianpopulation and the sum of the goods and servicesavailable, valued at existing prices. If such a gap

13 Kaldor, op. cit.


exists, it represents the amount by which taxation orsavings or the supply of goods must be increased inorder to avoid inflation.Government Finance, to April 1941.

The first war budget, revising the original estimatesfor the year ended March 31, 1940, was presented threeweeks after the outbreak of war. Expenditure wasestimated at £1,933 million as compared with £1,285million, the figure in the original budget for that year.Actual expenditure for the fiscal year, which includedseven months of war, was only £1,810 million (exclud-ing payment to Sinking Funds). (See table 2.)

Table 2.—British Government Revenue and Expendituresby Quarters

[Millions of pounds sterling]

Year and quarter

1939: October-December

1940: January-MarchApril-JuneJuly-SeptemberOctober-December .

1941: January-March...April-JuneJuly-September

Fiscal year ended March:194019411942 (1st 6 months)

Expend-iture | Revenue

, j

543 ;

624695 i915 !

1,159 i1,074 :1,162 '

1,8103,8672,236

207

505188264300

656319419

1,0491,408

738

Deficit

336

119507651798

503755743

7612,4591,498

Source: Bank of England Statistical Summary,

During 1940 governmental expenditures mountedrapidly, sustaining the price advances that had startedin the early months of the war. The second war budg-et, presented in April 1940, estimated expenditure for1940-41 at £2,667 million, which represented an in-crease of only about 10 percent over the rate of expendi-ture then attained. The inadequacy of this estimatewas realized after the fall of France; a supplementarybudget presented on July 23 increased the expenditureestimate to £3,467 million. Actual expenditures in-creased from £1,810 million in 1939-40 to £3,867million in 1940-41.

Figure 9 shows the percent of Government expendi-ture covered by taxation in 1938 and in the four quar-

ters of 1940. The remainder of the Government ex-penditure was covered by borrowing, in some form.The figure (and table 3 which presents the data uponwhich the figure is based) indicates that the Governmenthas been taking an increasing share of the total nationalincome—from 18 percent in 1938 to 47 percent in thefourth quarter of 1940.u The share of Governmentexpenditure (on goods and services) covered by Govern-ment revenue decreased from 104 percent in 1938 to30 percent in the fourth quarter of 1940.

In summarizing the fiscal experience of the first 18months of war, the Government figured the relationshipof its purely budgetary accounts to the national econ-omy. (See table 4.) Governmental expenditures inthe first 18 months of the war (September 1, 1939, toFebruary 1941) totaled £4,671 million. Revenue (in-cluding extra-budgetary receipts and proceeds from thesale of Exchange Equalization Funds) totaled £2,576million, leaving a "deficit" of £2,095 million which wasfinanced by borrowing. Where did this £2,095 millioncome from?

As shown in table 4, the Government estimated that£1,021 million came from sale of assets in foreign coun-tries, (in addition to the £388 million that the Govern-ment directly realized from the sale of pre-war resourcesof the Exchange Equalization Fund), £120 millionfrom increase of funds held against taxes accrued butnot yet due, £403 million from net debt retirement ofinstitutions, local authorities, and companies, and £300million from reinvestment of domestic capital. Thebalance, £640 million (a residual amount), was assumedto represent personal savings.

The fact that the accounts balance does not provethe absence of an inflationary impetus from publicspending, for the national accounts will always balance."Inflation" does not appear as one of the accounts, but

*4 The national income figure used in this calculation (column 4 in table 3) is a grossfigure, equalling the total of Government expenditure and personal expenditure(columns 5 and 7). Civilians and the Government, together, were able to spend morethan the income derived from current production of goods and services (column 1)because of drawing upon foreign and domestic capital. Indirect taxes (column 3)must be added to net national income and draft on capital in order to secure a figurefor gross national income equal to the total amount spent, because expenditures areat market prices, which include these taxes.

Table 3.—Distribution of the British National Income

Year and quarter

19381940

1940:I ...IIIIIIV . _.

1

Netnational in-come (beforedirect taxes)

4, 4155,586

1,2861,3991,4501,451

2

Net drafton foreign

and domesticcaitpal

—210949

102118294435

3

Indirecttaxes and

rates

643868

193205227243


4

Grossnationalincome

(1+2+3=5+7)

4, 8487,403

1,5811,7121,9712,129

5

Personalexpenditures

3,9974,303

1,0231,0761,0841,120

6

Percent ofgross

nationalincome(5-5-4)

8258

65

7

Governmentexpenditures

(on goodsand services)

8493,100

55862 j 64655 88753 1,009

8

Percent ofgross

nationalincome(7-5-4)

1842

35384547

9

Governmentrevenue

8851,257

* 505188264300

10

Percent ofGovernmentrevenue to

Governmentexpenditures

(9-5-7)

10441

90293030

Source: Adapted from the White Paper, "An Analysis of the Sources of War Finance and an Estimate of the National Income and Expenditures in 1938 and 1940."


swells the "savings" items. Only such savings asrepresent decreased consumption properly fill in theinflationary gap. Although personal savings at the rateof £640 million a year were important in preventingprices from going even higher than they did, thesesavings did not represent a reduction in monetarydemand for goods, but resulted from on expansion ofbank credit; personal savings amounted to only £150million in 1938.15

In fact, it is known that credit was expanding rapidly;by the end of December 1940, total bank deposits were25 percent above the prewar averages; current accountdeposits were up 40 percent (caused mostly by bankloans to Government). In the* fiscal year 1940-41 bankcredit was created to an average extent of about £33million a month, and lent to the government. At thesame time, notes in circulation increased about .10percent.16 (See fig. 10.)

Table 4.—Offsets to Government Expenditure, UnitedKingdom


Item

Total Government expenditure

Offsets:RevenueDraft on external capitalDraft on domestic capital ...._-Extra-budgeting receiptsIncrease of tax accounts _ .Savings of local authorities, institu-

tions, and companiesPersonal savings - -

Total offsets

September1939 toAugust

1940

2,597

1, 148542

60113140

272320

2, 595

6 months Septem-b c r 19 40 t oFebruary 1941

Actualfigures

2,074

83747924090

- 2 0

131320

2. 077

Annualrate

4,148

1,674958480180

- 4 0

202640

4,154

First 18monthsof war

4,671

1, 9851.021

300203120

403640

4,672

The Current British Budget.

The budget of April 1940 sets out the fiscal plans forthe ensuing year. Total expenditures are estimated at£4,207 million. "Domestic" expenditure (expendi-ture to be financed out of domestic sources) is estimatedat £3,700 million (as compared with £2,055 million forthe first year of war, and an annual rate of £3,190million in the first half of the second year). Offsets of£3,158 million are contemplated; this includes revenueof £1,636 million and other offsets (including extra-budgetary receipts and borrowing from personal sav-

Figure 9.—Distribution of the Gross National Income in theUnited Kingdom

BILLIONS OF POUNDS STERLING8

Source: Adapted by the Economist (Apr. 12, 1941) from figures given in the WhilePaper.

From this evidence, coupled with a price advancethat did not consist solely of higher prices for imports,it may be concluded that the Government's fiscal pro-gram resulted in some measure of inflation during 1940.Despite the taxation and borrowing with which theGovernment balanced its budgetary accounts, privateindividuals were left with sufficient purchasing powerfor personal expenditures of £4,303 million in 1940, anincrease of about 8 percent over expenditures in 1938.The volume of consumer's goods upon which this in-creased purchasing power was spent certainly wassmaller in 1940 than in 1938, probably by 5 to 10 per-cent.17 Real savings and taxes were not increasedsufficiently to cause a reduction in personal monetaryexpenditures appropriate to the reduction in volume ofconsumer goods, with the result that prices increased.

is Economist, April 12, 1941.16 Economist, Juife 21, 1941.17 Similarly, it can be calculated that total national monetary income, spent by

Government and private individuals, increased 20 to 25 percent in the first year ofthe war, while total production increased only 5 to 10 percent. Cf. Pigou, op. cit.

6

PERSONAL EXPENDITURES

GOVERNMENT'EXPENDITURES(GOODS a SERVICES)

GOVERNMENTREVENUES

YEAR

1938YEAR

1940

Source: Central Statistical Oilier, London.

ings) of £1,522 million. A gap of £542 million is left,which the Chancellor proposed to close by new taxesraising £252 million, and by additional personal savingsof £200-£300 million. It is the task of the NationalSavings Committee to achieve the necessary stimula-tion of savings. Because of lend-lease aid, which is notincluded in the above figues, the budgetary problem isconsiderably lessened. Budgeted expenditures are only16 percent over those of the first half of the second yearof war. Since lend-lease goods enter the British econ-omy without any corresponding flow of purchasingpower into the market, the task of absorbing purchas-ing power through savings and taxes is lightened.

The additional taxes that are necessary will be raisedby increasing the basic income tax rate from 42.5 percentto 50 percent (up to 10s. in the pound). ^The reducedrate applying to the first £165 ($660) of taxable in-come was raised from 25 percent to 32.5 percent. Theexemption limit was lowered from £120 to £110 ($480to $440). The personal allowance of single taxpayerswas lowered from £100 to £80 ($400 to $320), and ofmarried taxpayers from £170 to £140 ($680 to $560).The earned income allowance was reduced from % ofearned income (with a maximum of £250) to y10 (witha maximum of £150).

The increase in taxes resulting from the reduction inpersonal allowances and earned income allowances isput into Postal Savings, to be returned after the war


(up to £65). This feature was obtained as an incidentof tax collection, after it was rejected in 1940 whendescribed as "compulsory savings7' or "deferred pay."This compulsory savings feature will yield only £54million in the current year, or £125 million in the fullyear—much less than was proposed by the Keynes planof compulsory savings.18 In like fashion, 20 percent ofthe 100 percent excess-profits tax will be returned afterthe war, for reconstruction purposes.

Actual Fiscal Results in 1941.

Expenditures may well have been underestimated inthe budget. Already, expenditures (from April toSeptember 30, 1941) have been £2,236 million, or atan annual rate of £4,472 million as opposed to the esti-mate for the year of £4,207 million.19 (See table 2.)Revenue, however, is ahead of the usual percentage oftotal estimated annual revenue; to September 30 it hasbeen £737.5 million, or at a yearly rate of £1,475 mil-lion. In the first half of the current fiscal year, 41percent of total estimated annual revenue has beenreceived as compared with only 32 percent in the cor-responding period last year. Revenue to date covers33 percent of expenditure, while last year in the sameperiod it covered only 29 percent.

The proportion of total expenditure met by ordinaryrevenue fell to 31 percent in September, as comparedwith 40.8 percent in August, while receipts from savingsissues, large and small, dropped sharply after the heavypurchases of 2){ percent National War Bonds in theweek before their suspension on August 14. As a re-sult, the total from savings issues yielded only 17 per-cent of total expenditures in September as comparedwith 36 percent in August. It was necessary, there-fore, for the Exchequer to resort to the largest monthlyincrease ever recorded in the Floating Debt, financingin this manner 50 percent of total expenditure duringthe month, as compared with only 15 percent thusfinanced in August.

Bank credit is still increasing, as shown in figure 10.Deposits of London Clearing Banks increased about13 percent during 1941, to September. Note circula-tion increased about 11 percent in the same period.

Despite the inflationary implications of rising ex-penditures, an increase in the Floating Debt, and anincrease in bank deposits and note circulation, priceshave been relatively stable in 1941. Wholesale pricesrose only 3 percent through September, while the costof living increased 1 percent. One reason for this isthe Government expenditure of £100 million a year onsubsidies, chiefly for food items. In respect to fiscalcauses, however, the reason appears to be that the in-crease in bank credit has not as yet had its full effect onthe demand for goods. Aggregate clearings in ten pro-vincial banks increased only 2.4 percent in the period

18 "The British Budget, 1941-42," Foreign Commerce Weekly, July 12, 1941.19 Lend-Lease expenditures are not included in these figures.

428343—41 3

January 1-September 13, 1941, compared with thesame period in the previous year.

The voluntary limitation on spending that is reflectedin these figures may be accounted for by an increaseddesire for liquidity, by patriotic response to "buy less"campaigns, and by the fact that it is becoming moredifficult to spend, because of rationing. From thestandpoint of avoiding inflation, it is just as efficaciousfor people to hold funds as to relinquish them to thegovernment in taxes or loans. The only danger isthat purchasing power retained in the hands of thepublic might come into the market at any time.

Figure 10.—Bank Deposits, Note Circulation, and AverageWeekly Wages in the United Kingdom

AUGUST 1939« 100140

120

1939 1940

Source: Indexes computed with August 1939 as base from data published inLondon and Cambridge Economic Service's Reports, Memorandum No. 87.

Control of Demand by Rationing.

Rationing tends to retard price advances by limitingthe quantity of goods that may be demanded to thequantity available for sale. Increased price offers willnot secure for a buyer more than his allotted share of arationed good, hence the process of bidding up prices isminimized. Rationing by physical units cannot pre-vent price rises, when money incomes are expanding,but it can retard them.20 One of the reasons that theunabsorbed excess of purchasing power has not exer-cised its full force to raise prices in 1941 is that GreatBritain has been extending its rationing system.

The Rise in Wages

A general increase in wages is an indirect cause ofgeneral price rises, operating through the direct causes

20 The effects of rationing on prices are complex. The degree of monopoly is signifi-cant, for a monopolist may secure higher prices by restricting the supply, even undera rationing system. His most profitable price would not typically be so high underrationing, however, for units (in excess of the ration) that might be demanded at highprices by some buyers cannot be sold to them, hence under rationing a lower pricemust be set in order to sell a given quantity of goods. The degree of homogeneity ofthe product is also a relevant factor. When the rationing is by physical units (as as-sumed in the case above), there is a tendency for a relative increase in the demand forthe higher-quality varieties. Where rationing is by value, e. g., in the case of meatin Great Britain, there is increased demand for the lower-priced varieties. In the caseof rationing by value, the government may exercise considerable control over pricesby adjusting the total monetary expenditure on the good to the available supply.Consideration is being given in Great Britain to a rationing plan that would controlthe general price level by limiting the total amount of money that a person couldspend on all goods, while permitting greater freedom in the choice of goods. See M.Kalecki, "General Rationing," Institute of Statistics, Oxford, Bulletin, Vol. 3, No. 1.


discussed above. In Great Britain higher wages con-stitute a basis for higher permitted prices for commodi-ties under price control. Government expenditures areincreased by these higher prices, and under the Britishtax system it becomes more difficult for the Governmentto "soak up" the increased purchasing power. Anadvance in profits can be recaptured by the excess-profits tax, but an increase in wages may largely be"free" purchasing power, for direct taxes take only asmall proportion of incomes in the lower brackets.

Although the wage rates of some 2% million workersare linked by contract to the cost-of-living index, Britishwages in general have not increased in proportion to theincrease in prices. Professor Bowley's index of averageweekly wage rates has risen about 20 percent fromAugust 1939 to July 1941 (fig. 10). In the same periodthe cost-of- living index rose about 30 percent. Averageearnings of labor increased more than wage rates becauseof an increase in the number of hours worked. Evenearnings, however, have not kept pace with the increasein cost of living.21

The Government White Paper on finance 22 reportsthat labor's share of the national income (before directtaxes) increased from 41 percent in 1938 to 44% percentin 1940. Pay of the armed forces was included as wagesin this calculation. Excluding such pay, labor's shareof the national income dropped from 41 percent to 40percent, while profits and interest (before direct taxes)increased from 27 percent of the national income to29 percent.23

In July 1941 the Government issued a White Paperstating the position that an attempt by labor to main-tain real income unchanged through wage advances isdoomed to defeat, as consumption must decrease withan increased share of the national income being divertedto the war aim. Increased wages, it was pointed out,must in these circumstances be matched by a rise inprices, resulting in an upward wage-price spiral.24

The Government suggestion for voluntary stabiliza-tion of wages through negotiation by joint voluntarycouncils met with a negative response from the TradesUnion Congress, which stands opposed to wage stabili-zation. To meet the inflationary dangers pointed outin the White Paper, the General Council of the TradesUnion Congress urges an extension of rationing anddirect price control, as well as the stimulation ofmaximum savings.

Results of Efforts To Control the GeneralPrice Level

As a result of the various indirect controls discussed« J. L. Nicholson, ' 'The Trend of Wages," Institute of Statistics, Oxford, Bulletin,

Vol. 3, No. 11, August 9, 1941.« "An Analysis of the Sources of War Finance and an Estimate of the National

Income and Expenditure in 1938 and 1940."» Kaldor, op. cit.u "Price Stabilization and Industrial Policy," Cmd. 6294, July 1941.

above, and of subsidies and direct price control, theofficial price indexes in Great Britain have leveled off.In the United States, from January to September 1941,wholesale prices advanced about 13 percent, and thecost of living rose about 7 percent. The comparisonis not very meaningful, of course, because rationingand the shortage of supply restrict British consumersin their purchases of the more important items.25

The chief causes of the rapid increases in the priceindexes in the early months of the war have beenreasonably well controlled by purchase contracts withthe sterling area countries, stabilization of the foreignexchange rates, and requisition of British vessels. Thefurther substantial price advances in 1940 were causedprimarily by a decrease in civilian supplies and an in-crease in purchasing power. Efforts have been made toaugment supplies by increasing domestic productionand by heavier imports from the sterling area countriesand the United States. The lend-lease programhas removed the financial and legal obstacles to secur-ing supplies from the United States, and while actualreceipts in the United Kingdom have not been large(with the exception of protein foodstuffs), there is noquestion but lend-lease aid will be of great significancein respect to future supplies. The effect of lend-leaseaid in retarding British price advances is especiallyimportant in that it provides for a substantial volumeof consumers' goods and war material without an in-crease in the amount of purchasing power in themarket.

The increase in money incomes resulting from in-creased expenditures of the Government has to someextent been offset by heavier taxes and increasedsavings, but it appears that some inflationary gap mayyet remain. The excess of expenditure over the budgetestimates and over revenue continues to mount, and adecreasing proportion of this deficit is financed bydrawing directly on personal savings. Consequently,bank credit continues to expand. The stability of bankclearings, however, indicates that the expansion of bankdeposits has not resulted in a corresponding increase inactive spending.

The Government's efforts to stabilize prices areespecially directed at the staple items that for the mostpart are those that comprise the cost-of-living index,because demands for wage increases are related to themovements of this index. To the extent that thevarious indirect controls discussed above may prove in-adequate for the task, it may be expected that greateremphasis will be placed upon the use of subsidies,rationing, and direct price control.

25 The value of the British indexes as measures of change under present conditionsis limited, since their weighting is based on pre-war conditions, and they do not reflectthe radical alterations in the relative supplies of different commodities and changes intheir quality. Despite these shortcomings the indexes are useful as an approximatemeasure of the broad movements of prices.


Capital Expenditures in Selected Manufactur-ing Industries

By Lowell J. Chawner

CAPITAL expenditures in manufacturing industriesin the United States since the first World War

have exhibited wide differences among the separateindustry groups. These differences in capital outlaysare conspicuous in the long-time trends and in thefluctuations over periods of several years. They arenot appreciable, however, in the timing of the short-run movements, which in many industries exhibit thecharacteristic fluctuations of general business condi-tions.

Technological changes, both in the development ofnew products and in methods of fabrication, appear tobe especially significant influences in determining thevolume of capital outlays in individual industries. Asfar as capital expenditures are concerned, the incidenceof these changes is not general but is upon particularindustries, processes, and enterprises.

The following article contains estimates of the annualcapital expenditures for productive facilities in each ofsix separate groups of manufacturing industries sincethe first World War, together with some comments uponthe major influences which appear to have been respon-sible for the fluctuations in these expenditures overthat period. The industry groups considered here arefood and kindred products; textiles and related prod-ucts; lumber and lumber products; pulp, paper, andallied products; printing, publishing, and allied indus-tries; and stone, clay, and glass products.

A second article scheduled to appear in an earlyissue of the Survey will present estimates of the capitalexpenditures in six other groups of manufacturing indus-tries: blast furnace and steel works products, automo-biles, airplanes, petroleum products, rubber products,and leather and leather products.

Heretofore, measures of capital expenditures in in-dividual groups of manufacturing industries have beenavailable only for the year 1939. For that year allmanufacturing establishments were requested to reporttheir capital expenditures as a part of the regular Censusof Manufactures.

Data for a few important industrial groups, such aschemicals, nonferrous metals, finished iron and steelproducts, and machinery are not presented becausesuitable primary statistics have not been developedthus far for estimating the capital expenditures in theseindustries except for the 1939 data reported to theBureau of the Census.Review of Capital Expenditures, All Industries, 1915-41.

The movement of aggregate capital expenditures formanufacturing facilities from 1915 through 1940 was

discussed in an earlier article.1 Estimates of theseexpenditures are shown in figure 11. Since they are incurrent dollars, they exhibit wider fluctuations thanactually occurred in the physical additions to productivefacilities.

Few additions were made to manufacturing capitalfacilities in 1914, the expenditures for this purpose hav-ing declined substantially from those of 4 or 5 yearsearlier. In 1915 the prospects for a long war addedgreatly to the requirements for war material, particu-larly explosives, artillery, and shells. Largely initiated

Figure 11.—Estimated Capital Expenditures for Plant andEquipment for All Manufacturing Industries

BILLIONS OF DOLLARS5

1915 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25 '26 '27 '28 '29 '30 '31 '32 '33 "34 '35 '36 '37 "38 '39 '40 '41CD 41-532

I Source: U. S. Department of Commerce.

by orders from abroad, substantial expenditures (interms of the prices prevailing at that time) were madefor manufacturing facilities in the United States in 1915and 1916, particularly in the iron and steel industries.

The entrance of the United States into the war in thespring of 1917 made necessary a rapid expansion in plantand equipment for the production of guns, and ammuni-tion, chemicals (powder, synthetic dyes, and basic ma-terials, such as nitrates), and naval and merchantships. Plants for the fabrication of many of these prod-ucts were practically nonexistent in the United Statesand in other cases had fallen into disrepair as a resultof inactivity. The tonnage of ships constructed in theyear ended in June 1915, for example, was lower thanit had been in any year since 1898.

Following the armistice in November 1918, there wasa brief decline in the rate of manufacturing capital ex-pansion. However, a number of factors set the stagefor a high rate of capital outlays during the immediate

» Survey of Current Business, March 1941, "Capital Expenditures for Manufac-turing Plant and Equipment," p. 9. References to estimates of expenditures for otherproducers' goods are given there.


post-war years, 1919 and 1920. Among these was aneed for facilities delayed by the war (especially thoseresulting from the discovery of new products and tech-nological processes) and a corporation income tax favor-able to the readjustment of manufacturing plants topeacetime purposes.

Also, an active consumer demand, together with highprofits arising from more rapid advances in finishedcommodity prices than in total manufacturing coststended to encourage capital outlays by many concerns.Although expenditures on productive facilities were sub-stantial in nearly all industries, they were particularlylarge in automobile manufacturing, rubber working,leather working, lumber and lumber products, and tex-tiles.

It is evident from the estimates shown in figure 11that the capital expenditures for manufacturing plantand equipment during the two decades following 1920exhibit the characteristic short-run fluctuations in gen-eral business conditions over this period. Thus, theaggregate of such expenditures was relatively high in1920, 1923, 1926, 1929, and 1937; and it was relativelylow in 1921, 1924, 1927, 1932, and 1938.

As will be noted in the subsequent discussion short-run business fluctuations affect capital expenditures innearly all invididual industries, particularly the timingof such expenditures. However, other factors, partic-larly changes in products and in methods of fabrication,and unusual changes in demand for particular products,are the more basic underlying conditions which deter-mine the volume of capital expenditures over longerperiods of several years.

It should be observed conversely that capital ex-penditures usually serve as important media throughwhich corporate or individual savings reenter the in-come stream and thus create a continuing demand forcommodities and services. Expenditures for con-sumers' durable goods, such as houses and automo-biles; for public works; and for inventory accumula-tion operate in much the same manner. An expansionin the total of such expenditures relative to savingstends to increase general economic activity and a con-traction operates to bring about decline.

The expansion and contraction of gross outlays formanufacturing facilities thus undoubtedly contributedto the general economic fluctuations during the past

two decades. However, it is unlikely that the fluctua-tions in gross outlays for manufacturing facilities weresufficiently large in themselves to dominate the fluctua-tions in general economic activity.

Today, the United States is in the midst of thegreatest expansion of productive facilities in its his-tory.2 A large proportion of these are for the produc-tion of arms, armament, or other products required bythe military services in the United States or in friendlynations which we are endeavoring to supply. In fact,for the year 1941 more than four-fifths of our totalcapital outlays for manufacturing are required forthese purposes.Capital Expenditures by Industries.

During the 23 years since the first World War,capital expenditures in the various manufacturing in-dustries have experienced marked differences, both intheir fluctuations and long-time trends. One of the12 industry groups for which separate estimates havebeen made, experienced its largest capital outlays in1919: 3 reached a peak in 1920, 1 in 1925, 2 in 1928,2 in 1937, 1 in 1940, and 2 in 1941. Every group, withthe single exception of petroleum refining, experiencedits lowest capital expenditure in 1932 or 1933.

Plant additions in most industries immediately in-fluenced by the defense program, such as nonferrousmetals, shipbuilding, airplane motors and parts, andchemicals (including explosives) are clearly larger in1941 than in any previous year, although detailed esti-mates are not available for all of these industry groupsin all years. These and other differences in capitalexpenditures among the various industry groups maybe observed by a comparison of the accompanyingcharts (figs. 12-17).

The industry groups presented in table 1 follow ratherclosely the classifications used by the Bureau of theCensus over most of this period. In some cases theyare too comprehensive to be entirely satisfactory forpurposes of analyzing fluctuations in capital expendi-tures, but in this regard are subject to the limitationsof the available primary statistics used in their compila-tion.

The consolidation of stone, clay, and glass industriesinto a single group, for example, yields data on capital

2 See the article, The New Defense Facilities, Survey of Current Business, p. 10,November 1941.

Table 1.—Capital Expenditures for Plant and Equipment in Selected Groups of Manufacturing Industries, 1919-40 l

[Millions of dollars]

Industry group

Food and kindred productsTextiles and related productsLumber and lumber productsPulp, paper, and allied productsPrinting, publishing, and allied industriesStone, clay, and glass products

1919

1372321241018595

1920

354300159158113168

1921

214183718985115

1922

25720911063107130

1923

248260118102124198

1924

23418210593114157

1925

27220312085130181

1920

37119814392129234

1927

34321294116114202

1928

42321289129102283

1929

378235104137119241

1930

2671305011081120

1931

1719330545276

1932

1315615283038

1933

2077920292728

1934

19510122404143

1935

1858932665465

1936

26811647987599

1937

320157621838299

1938

2179143705768

1939

24013061865868

1940-'

294130

9264

1 Includes establishments engaged in manufacturing only as defined by the Census of Manufactures.2 All 1940 figures are preliminary, based upon incomplete data.Source: U. S. Department of Commerce, Bureau of Foreign and Domestic Commerce.


expenditures which cannot be readily interpreted andhence have limited usefulness in the analysis of suchexpenditures. Also, a single estimate for the textile,apparel, and related industries group has been necessarysince available statistics do not make possible the de-termination of separate estimates for cotton, woolen,and silk textiles, and for apparel.

The estimates for the pulp and paper industry, andthe printing and publishing industries are somewhatmore satisfactory in this regard. This is likewise trueof several of the series to be published in a subsequentarticle, such as those for automobiles and rubber prod-ucts. However, in all cases the estimates have beenmade in the greatest detail possible with availablestatistical materials.

It is beyond the scope of this article to give anextended historical account of the technological andeconomic developments affecting each of the industrygroups for which estimates of capital expenditures areshown in table 1. However, in the following para-graphs a few comments are made upon the principalchanges in demand, new products, methods of fabrica-tion, profitability, and other characteristics of thevarious industries which are believed to have a specialbearing upon the capital expenditures in these industriesduring the past two decades.

Food and Kindred Products.

Food processing in a factory rather than on a farmor in the household kitchen has been well establishedfor nearly three-quarters of a century in the UnitedStates. Nevertheless, the extent to which foods arethus prepared for final consumption has continued toincrease very substantially in recent years.

Census statistics disclose no conspicuous change(actually a very small decline is indicated) in the rela-tive proportion which the physical production in foodmanufacturing establishments has been of the totalproduction in all manufacturing since the year 1899,but the "value added" in food processing does appearto have increased relative to the total for all manufac-turing.3 Also in food processing, mechanization hasincreased rapidly during the past two decades. Atpresent the portion of the manufacturing effort (meas-ured by the value added) which is attributable to theuse of capital facilities in food processing is larger thanthat in textiles and apparel, leather and leather prod-ucts, automobiles, and several other industry groups.

The fluctuations in the capital outlays made in thefood and kindred products industries (see fig. 12) areattributable in a number of cases to special conditionswhich can be identified. In 1919 and 1920 the rela-tively high capital expenditures were due principally toadditions to flour mills and other grain mills, and to asomewhat lesser extent to expansion in confectioneryand ice-cream plants. The former were greatly influ-

3 See "The Output of Manufacturing Industries, 1899-1937," p. 74; Solomon Fab-ricant; National Bureau of Economic Research, 1940.


400

3 0 0

2 0 0

100

0

\ /^PRODUCTION*•*• (RIGHT SCALE)

-

1935-39 =

CAPITAL EXPENDITURES(LEFT SCALE) / _

/

V A/X /

enced by the unusual demand for wheat flour duringthe first World War and immediate post-war years whichresulted from the curtailed grain production in Europeand the special advantages which the United States hadover the two other principal sources of supply, Australiaand Argentina, because of its closer proximity to Europein a period when shipping space was at a premium.Many of the capital expenditures in flour milling werealso prompted by the desire to attain the greater effi-ciencies possible in the larger, highly mechanized mills.

Figure 12.—Estimated Capital Expenditures for Plant andEquipment and Index of Production for Food and KindredProducts

100150

'- 125

100

- 75

- 50

1919 '20 '21 '22 '23 '24 '25 "26 '27 '28 '29 "30 '31 '32 '33 '34 '35 '36 '37 '38 "39 '40 '410.0. 41-54-1

Source: Capital Expenditures for all years and Estimated Production for 1941,U. S. Department of Commerce; Production for 1919-40, Board of Governors of theFederal Reserve System.

The expansion in flour-milling facilities in 1919 and1920 thus occurred partly in response to abnormal con-ditions. Together with the declining consumption ofwheat flour per capita in the United States, this expan-sion left flour millers with productive capacity in excessof that necessary at any time during the past twodecades.

The particularly large capital outlays during theyears from 1926 through 1929 reflect changes in thepackaging of foods for the retail market and the exten-sive modernization of food-processing facilities. Theexpenditures for this purpose of approximately 420million dollars in 1928 was larger than in any otheryear during the period covered b} these estimates.Many products, such as sugar, cereals, and baker prod-ucts of various kinds, formerly sold in bulk, wereincreasingly prepared for marketing in packaged form.New processes, such as the quick freezing of fruits,vegetables, and other fresh foods, were introducedduring this period. The canning of fruits and vegeta-bles and the use of refrigeration and air conditioning infood-processing plants also expanded greatly.

Considerable centralization of food processing intolarger, more efficient plants and a consolidation of manyconcerns into large processing and distributing corpora-tions occurred during these years. These changes,

22 SUEVEY OF CURRENT BUSINESS December 1941

together with some increase in the total demand forfood products during the 1920's, are believed to belargely responsible for the very large capital expendi-tures in the latter part of that decade.

The rise in capital outlays in the food manufacturingindustry in 1933 and 1934 is attributable very largelyto extensive expenditures upon breweries and distilleries.For purposes of industrial classification, following theCensus Bureau practices, brewing and distilling ofalcoholic liquors, as well as the processing and bottlingof nonalcoholic beverages, are included in the food andkindred products groups of industries.

In 1936 and 1937 the recovery in general businesswas accompanied by sizable capital expenditures forbaking machinery, bottling machinery of various kinds,canning plants (especially for fruit and vegetablejuices), and plants for the processing of salad dressingsand similar products.

New products, increasing mechanization, plant mod-ernization, and other technical changes in the foodindustiies clearly have been major factors influencingthe capital expenditures in this industry during thepast two decades. Also, the greatly increased employ-ment of women in gainful pursuits outside of the home,which began during the World War, undoubtedlystimulated the demand for prepared foods and thus forthe facilities required in their fabrication. Notwith-standing the major influence upon capital expendituresof changes in products or process or of advances tonew high levels of production, it should be observedthat outlays for these purposes frequently are delayeduntil, in the judgement of individual enterprisers,economic conditions warrant the expenditures.

Textiles and Related Products.Spinning and weaving have experienced approxi-

mately two centuries of active technological change.This process, as well as the migration of the textileindustries, has continued up to the present time.

During the 19207s several important developmentsoccurred which resulted in substantial capital outlaysby textile manufacturers in the United States. Themajor change of this character in the cotton textilebranch was the rapid increase of facilities in the South-eastern States, a movement which had been going onfor many years but which was particularly activeimmediately following the World War. The post-wardecade also experienced an active growth in plants forthe manufacture of full-fashioned hosiery and, in thelatter part of the decade, an expansion of facilities forthe processing of rayon fabrics.

Moreover, throughout the past two decades, improve-ments have gradually been made in the speed and re-liability of operation of spindles and looms in all ofthe textile industries. For example, the cotton proc-essed per spindle-hour has increased since 1919 byapproximately 50 percent for the entire industry in the

United States. As a result of these improvements,together with multiple-shift operation, the cottonactually processed per average active spindle has morethan doubled since 1919.4

Keen competition in the textile industries has resultedin considerable adoption of this improved machineryduring the past 20 years. Expenditures upon newbuildings, however, have been very small since 1929with the sole exception of new structures for the manu-facturing of fabrics from synthetic fibers.

Nearly all branches of the textile and apparel in-dustries experienced heavy demand, received highprices, and had excellent profit records in 1919 and early1920.5 These conditions led to very large capital out-

Figure 13.—Estimated Capital Expenditures for Plant andEquipment and Index of Production for Textiles andRelated Products

MILLIONS OF DOLLARS 1935-39 = 100175500

400

3 0 0

2 0 0

1 0 0

0

-

- A CAPITAL EXPENDITURES

A / (LEFT

\ /

1 I 1 1 ! 1 ! i ]

SCALE)

\

I 1 1

:-

/ ~PRODUCT/ON. J(RIGHT SCALE) >^/*#

..•••• /

/ *

'••• / // v /\ /

I 1 ! 1

- 125

501919 '20 "21 '22 '23 '24 '35 '36 '37 '38 '39 '40 '41


lays at that time, particularly in 1920, The capitalexpenditures of 300 million dollars for the textile andrelated products industries in that year are the largeston record. (See fig. 13.) Late in 1920, the generalprice decline was followed by a reduction in capitaloutlays which extended through the following year.

The recovery in capital expenditures in 1923 wasdue principally to the expansion of cotton spinningand weaving in the Southeastern States, and to someexpansion in the woolen and worsted mills in NewEngland. Some expansion of capital facilities in thecotton spinning and weaving industry in the SouthernStates continued until about 1930. The New EnglandStates, however, have experienced a steady reductionof such facilities since 1923.

Although the physical output of textiles and apparel* See "Cotton from Raw Material to Firnished Product", The Cotton Textile

Institute, 1940.« See Ralph C. Epstein, "Industrial Profits in the United States," National Bureau

of Economic Research, 1934; also Leland Rex Robinson, "Corporate Earnings onShare and Borrowed Capital in Percentages of Gross Income (1918-40)," Journal ofthe American Statistical Association, June 1941, pp. 253-264.

December 1941 SUEVEY OF CURRENT BUSINESS 23

of various types has been well maintained and in theaggregate has a slightly rising trend over the past twodecades, total capital expenditures in this industryshow a pronounced downward trend over the sameperiod (see fig. 13). In the absence of any majoradvance in demand or technology, capital expenditureswould be expected to remain below the levels attainedduring the early part of the 1920 decade. Today,however, many textile research specialists believeimportant developments are in prospect which may havea significant influence upon the textile industries in thereadjustment following the present war.

The most striking textile development during thepast two decades has not been in spinning, weaving, andconverting, or in the cutting trades, but in the develop-ment of new fibers; notably rayon and nylon. Forpurposes of industrial classification, the manufacture ofthese and other synthetic fibers is usually included withthe chemical industries. Consequently, capital expend-itures for this purpose are not included in the totalsshown in figure 13, but in view of their close relationshipto the textile industries a brief discussion of thisexpansion is given in the following paragraph.

Few industrial processes have experienced a morerapid growth than rayon fiber manufacturing. In1919, approximately 8 million pounds of rayon filamentyarn were produced in the United States. The cor-responding figure in 1930 was 127 million pounds.During the intervening years, more than 150 milliondollars appears to have been spent upon new plant andequipment for the fabrication of this fiber. Thisexpansion was particularly rapid from 1925 to 1929.In 1940, the total production of rayon of all types hadreached 390 million pounds of filament yarn and 80million pounds of staple fiber (a more recent develop-ment).

Thus, in a period of approximately two decades,rayon has grown from a practically unknown materialto one of our major textile fibers. It is important toobserve, however, that the rapid practical expansion ofrayon fabrication was preceded by many years ofexperimentation in search of a synthetic textile fiber,the earliest patent for the fabrication of a cellulose fiberusing methods similar to those now followed havingbeen awarded in France in 1874.

Lumber and Lumber Products.

The lumber and lumber products industries are theonly major group of manufacturing industries experi-encing a declining trend in output since 1899.6 Twoprincipal factors tend to account for this: First, in-creases in the use of competing materials, especiallysteel, concrete, clay products, and paperboard; second,a declining trend in the activity of some of the proc-esses which use this material.

Considerably fewer residential units appear to havebeen built during the last decade than during the

8 Fabricant, op. cit.

decade from 1901 to 1910, which was a period of verysubstantial construction activity. Railroad construc-tion, which at one time required large quantities oflumber, also has declined over the past 40 years. Therelative importance in the uses of lumber of all types in1939 (based upon the number of board feet) has beenestimated as follows: Construction, 68 percent; boxesand crates, 12 percent; railroad structures and rollingstock, 7 percent; furniture, automobiles, and otherindustrial uses for further fabrication, 9 percent; andexports, 4 percent.

During the past two decades, capital outlays in thelumber and lumber products industries show both adeclining trend and wide fluctuations. They were

Figure 14.—Estimated Capital Expenditures for Plant andEquipment and Index of Production for Lumber andLumber ProductsMILLIONS OF DOLLARS2 00

1935-39 = 100

!5O

100

• ^PRODUCTION\ f (RIGHT SCALE)

* A100

1919 '20'21 '22 '23 '24 '25 '26 '27 '28'29 '30'31 '32*33 '34 "35 '36 '37 '38 '39 '40 '41

Source: Capital Expenditures for all years and Estimated Production for 1919-22and 1941, U. S. Department of Commerce; Production for 1923-40, Board of Gov-ernors of the Federal Reserve System.

largest in 1920, approximating 160 million dollars, andin 1926 were slightly more than 140 million. The sharpdecline following 1926 which was only slightly inter-rupted in 1929, is conspicuous.

In 1919, lumber production was only slightly morethan it had been during the preceding year and less thanin any other year since 1908, and it declined still furtherin 1920. Prices, however, were high and profits un-usually large for this industry. This situation appearsto be largely responsible for the peak capital expendi-tures in the lumber and lumber products industry in1920.

The demand for lumber and lumber products duringthe years from 1923 to 1929 was substantially abovethe long-time, declining trend. This was due verylargely to the residential building boom and to the sub-stantial volume of other types of construction through-out the entire period from 1923 to 1929. Approxi-mately three-fourths of the lumber production duringthis period was used in construction, particularly inresidential building, which is the principal use for soft-wood types of lumber.

Capital expenditures in the lumber and lumber prod-ucts industries were maintained moderately well duringthe 1920 decade, though they experienced a slight de-

24 SURVEY OF CUREENT BUSINESS December 1941

clining trend. One factor responsible for the moder-ately large capital outlays in the decade of the twentieswas the substantial increase in lumber production inthe Rocky Mountain and Pacific States. In all otherparts of the country, lumber production appears to haveexperienced a declining trend.

Considerable centralization and modernization oflumber mills (which account for nearly half of the totalvalue added in the lumber and lumber products indus-tries) occurred from about 1900 to the World Warperiod. Since then, relatively few changes, with thepossible exception of kiln drying and the preservativetreatment of lumber, have occurred which have influ-enced substantially the capital outlays in this branchof the industry.

On the other hand, technological advance has beenconsiderable in furniture manufacturing and plywoodproduction, and to some extent in the methods of usinglumber in construction—such as prefabrication, timberconnectors and the increased use of power saws. Fol-lowing the practical introduction of moisture-resistantresin glues in the manufacture of plywood in about 1935,the fabrication of this product has increased rapidly andsubstantial expenditures have been made for productivefacilities for its manufacture. The production of Doug-las fir plywood, the principal type, increased to nearlythree times the 1929 volume in a period of 10 years.Pulp, Paper, and Allied Products.

The production of pulp and paper products in theUnited States has increased substantially and with onlyone important interruption during the past two decades,that of the years 1929-35. Particularly marked in-creases have occurred in the production of paperboard.Nearly 8 million short tons of paperboard of all typeswill be fabricated in 1941 compared with less than 2million tons in 1919.

The production of wrapping papers also has increasedfrom less than 1 million tons in 1919 to 2.3 million tonsin 1941. Newsprint paper is the only major productof this industry whose fabrication in this country hasdecreased since 1919, the largest part (about two-thirds)of our domestic requirements in recent years havingbeen supplied by imports from Canada.

The heavy capital expenditures for pulp and papermaking facilities in 1920 occurred in a year of unusuallyhigh net earnings for the concerns in this industry andwere undoubtedly influenced by that situation. Asteady growth which more than doubled the productionof all pulp, paper, and allied products from 1921 to1929 (see fig. 15) resulted in sizable capital outlays inthis industry throughout the period, particularly from1927 through 1929.

Total output of pulp and paper products was in mod-erately smaller volume for a few years after 1929, but ithad recovered its previous high by 1935 and continuedits strong upward trend thereafter. In the following 2years very large outlays were made in this industry,those of approximately 180 million dollars in 1937 being-

larger than in any other year.This particular expansion in facilities was due pre-

dominantly to the practical introduction on a largescale of methods for utilizing Southern yellow pine inin the manufacture of sulfate (kraft) pulp and paperproducts. More recently processes have been de-veloped for the manufacture of a new type of newsprintfrom this pulp wood, and in 1939 a large Texas mill wasconstructed for this purpose.

Although the production of all types of paper andallied products has been at record levels for the past 3years and many plants are now operating close to fullcapacity, only a moderate expansion in facilities hastaken place. In 1939 and 1940 this may have beeninfluenced by a desire on the part of the concerns inthis industry to avoid excess capacity at low prices,particularly in view of the prospective revival of large

Figure 15.—Estimated Capital Expenditures for Plant andEquipment and Index of Production for Pulp, Paper, andAllied ProductsMILLIONS OF DOLLARS300

2 0 0

150

1935-39-=1001150

125

IOO

I I I I

50

1919 '20 '21 '22 '23 '24 '25 '26 '27 '28 '29 '30 '31 '32 '33 '34 '35 '36 '37 '38 '39 '40 '410.0. 41-546

Source: Capital Expenditures for all years and Estimated Production for 1919-22and 1911, U. S. Department of Commerce; Production for 1923-40, Board of Governorsof the Federal Reserve System.

pulp imports from Scandinavian countries after the war.Today, difficulties in securing machinery and someessential raw materials, prevent any major enlargementof facilities.Printing, Publishing, and Allied Industries.

The production of newspapers, periodicals, books, andsimilar printed products increased steadily from 1921to 1929. This fact tends to account for the sustained cap-ital expenditures in this industry during the 1920 decade.

In the following decade, however, only 2 years, 1937and 1939, experienced a production in this industrylarger than that in 1929, and the production in each ofthese years was only very slightly larger than that in1929. Moreover, few technical developments appear tohave been made during this period which would tendto stimulate capital outlays for the replacement ofexisting printing machinery or other equipment. Mosttypes of printing machinery are very carefully made andhave a long useful life.

In view of very slight increases in production and the

December 1941 SURVEY OF CURRENT BUSINESS 25absence of major technological or other changes, it isnot surprising that capital expenditures in printing,publishing, and allied industries have been much smallerin recent years than during the 1920 decade.Stone, Clay, and Glass Products.

This group of industries includes establishments en-gaged in the fabrication of a wide variety of productssuch as flat glass, glassware, cement, structural clayproducts, pottery, concrete and gypsum products, cutstone, and miscellaneous nonmetallic mineral products.Many different basic materials also enter into theseproducts.

In view of the diversified character of this group, it isnot possible to attach any special significance to thefluctuations in the total capital expenditures for theseindustries apart from the reflection in the total of theoutstanding developments in some of the individualindustries.

The steadily maintained capital expenditures in thisgroup of industries from 1919 through 1929, subjectonly to what appear to be cyclical interruptions in 1921,1924, and 1927, were to a considerable extent concen-trated in cement, concrete products, structural clayproducts, and flat glass plants (see fig. 17). Thisexpansion reflected the unprecedented volume of build-ing, highway, and other construction during this period,as well as the rapidly increasing demand for plate glassin automobile manufacturing, particularly following theintroduction of safety glass. Construction activity

Figure 16.—Estimated Capital Expenditures for Plant andEquipment and Index of Production for Printing, Pub-lishing, and Allied IndustriesMILLIONS OF DOLLARS 1935-39= 100

125>00

50

0 0

50

0

"~ CAPITAL EXPENDITURES(LEFT SCALE)

! 1 1 1 1 1 1 I 1 1 I

. PRODUCTIONf (RIGHT SCALE) . y

1 1 ! 1 1 1 1

V

1 ' !

-

1

- 75

- 50

1919 '20 '21 '22 '23 '24 '25 '26 '27 '28 '29 '30 '31 '32 '33 "34 '35 '36 '37 '38 "39 '40 '41

Source: Capital Expenditures for all years and Estimated Production for 1919,1921, and 1941, U. S. Department of Commerce; Production for 1923-40, Board ofGovernors of the Federal Reserve System.

declined slightly beginning in 1927 and fell off precipi-tously after 1930. During the following 4 or 5 years,the volume of construction probably was lower, aftermaking allowances for price changes, than in any yearin the United States since 1904.

The capital outlays in the stone, clay, and glassindustries in 1928 and 1929 include heavy expendituresby several concerns engaged in flat-glass production,together with sizable capital outlays in the other indus-

428343—41 4

tries in this group. During the 1930 decade, the facili-ties in nearly all stone, clay, and glass industries havebeen adequate to meet production requirements with-out further additions to plant and equipment. Also,

Figure 17.—Estimated Capital Expenditures for Plant andEquipment and Index of Production for Stone, Clay, andGlass ProductsMILLIONS OF DOLLARS5 0 0

4 0 0

3 0 0

2 0 0

100

0

r

CAPITAL EXPENDITURESr (LEFT SCALE)

/ \ PRODUCTION. .r \ (RIGHT SCALE) V . .••

\ / \ /

\ / "

! ( ! 1 V f ' 1 1 1 1 1 1 1

:

j

>

i

I935-39°IOO175

150

- 125

- 100

75

501919 '20 '21 '22 '23 '24 '25 '26 '27 '28 '29 '30 '31 '32 '33 '34 '35'36 '37 '38 '39 '40 '41

DO. 41-542


few technological developments have occurred to accel-erate the replacement of existing facilities, althoughimprovements in glass container and flat-glass machineryin recent years are important exceptions. However,for the stone, clay, and glass industries as a group,outlays for plant and equipment during the 1930'shave been less than half of the average for the precedingdecade.Summary.

An examination of the fluctuations in capital expendi-tures in the major groups of manufacturing industriesleads to 2 observations which warrant special emphasis.First, although the capital outlays in nearly all of theindustries reflect to some extent the short-run fluctua-tions in general business, they exhibit markedly dif-ferent behavior in their long-run trends and fluctuations.This characteristic will be more evident after an exam-ination of data upon the capital expenditures for all ofthe 12 manufacturing industries for which such esti-mates have been made, especially automobiles, blastfurnaces and steel works, leather and leather working,and petroleum refining in addition to those treated inthis article.

In the second place, capital expenditures in manu-facturing industries occur principally as the result ofchanges—changes in products, technical processes, andadvances to new high levels in the demand for existingproducts, and only to a limited extent as the result ofthe replacement of plants and equipment arising solelyfrom well-sustained but fundamentally unchangingoperations.


Methods of Deriving EstimatesThe estimates presented in these articles are derived by indirect methods, with the

exception of those for the automobile industry which are based upon reported capitalexpenditures by several automobile manufacturing corporations that accountedfor over 75 percent of the estimated total of such capital expenditures in 1939 and thosefor the blast furnaces and steel works industry which are based largely upon the capi-tal outlays reported by corporations which accounted for 60 percent of the capitalexpenditures of this industry in 1939.

With these exceptions the year-to-year changes in each industry have been derivedby one or the other of two methods: (a) Gross increments in physical capacity (suchas barrels of petroleum throughput) multiplied by appropriate indexes of construc-tion costs, and in one industry (petroleum refining) also by an index representing theeffect of technological changes upon construction costs; or (b) a series based uponannual dollar expenditures for factory buildings (derived from reports of contractsawarded) plus estimates of the annual production of industrial machinery (textilemachinery, woodworking machinery, printing machinery, food processing machin-ery, pulp and paper making machines, steam engines, etc.). The latter method fol-lows the procedures used in compiling estimates of total manufacturing capital ex-penditures described in the March 1941 issue of the Survey of Current Business.

In each industry the bench mark for the estimates throughout the entire periodis the capital expenditure for plant and equipment in 1939. These bench marksare based upon the reports made for that year to the Bureau of the Census by everyoperating manufacturing establishment in the United States. Adjustments to thepreliminary Census tabulations were made for some underreporting and for under-coverage due to expenditures involved in the construction of plants during 1939 atestablishments which did not operate in that year and consequently did not reportto the Bureau of the Census.

Allowances in some industries were made for the production of leased machinery(particularly in shoe manufacturing) and for factory buildings constructed by

others than manufacturing concerns for leasing to the latter. In a few industries,especially printing and publishing, allowances were also made for some expendituresfor manufacturing facilities by governmental agencies. Although expenditures formanufacturing facilities by the Federal Government are very large in 1941 (consider-ably more than those by private concerns in this year), such expenditures were quitesmall in 1939, probably not more than 5 percent of the total. They were also smallin other years covered by these detailed estimates with the possible exception of1919 and 1920 in which years some expenditures were made by the Federal Govern-ment upon facilities for shipbuilding purposes in a continuation of the World Warprogram.

The following factors were applied to the capital expenditures for buildings andmachinery (excluding land) reported to the Bureau of the Census for 1939, in orderto secure the basic estimates referred to above: food and kindred products, 1.20;textiles and related products, 1.25; lumber and lumber products, 1.33; pulp, paper,and allied products, 1.33; printing, publishing, and allied industries, 1.25; stone,clay, and glass products, 1.25.

The estimates of machinery expenditures in the various industries include allow-ances both for special purpose and some general purpose machinery. The expendi-tures for some types of general purpose machinery, such as steam engines, steam tur-bines, and motors can be approximately allocated to the different manufacturingindustries on the basis of the increments in the installed horsepower of each of thesetypes of machinery between manufacturing census years. Data of this generalcharacter were first reported in 1870. They are available for all but one manufactur-ing census year from that date to 1929, and were also reported in 1939.

The following brief statements indicate the methods used in deriving the capitalexpenditures for each of the industries shown in table 1.

Food and Kindred Products.The year-to-year changes in the capital expenditures in this group of industries were

derived by adding estimates of building construction activity (based upon factorybuilding contracts awarded) to estimates of specialized and general purpose machin-ery. The machinery estimates for biennial census years were derived from the pro-duction of special purpose machinery, such as bakers, bottlers, canning, confectioneryand ice cream, flour milling, packing house, and refrigerating machinery reported inthe Census of Manufactures, together with appropriate allocations to the food in-dustries of general purpose machinery, such as engines, motors, blowers, and packag-ing machines. Allowances were subsequently made for imports and exports. (See p.15, March 1941, Survey of Current Business for adjustments used in deriving theseestimates.)

The machinery estimates for biennial census years experienced a close covariationwith the building construction estimates for these years. Consequently, the ma-chinery estimates for the intercensual years were interpolated graphically by usingthe relationship between machinery and building construction derived from data forthe biennial census years.

Estimates of expenditures for building construction and for machinery in the foodsand kindred products industries, secured in the above manner, accounted for approxi-mately 70 percent of the capital expenditures in the base year 1939 derived from directreports by all concerns in this group of industries to the Bureau of the Census, plusallowances for some underreporting and for undercoverage due to expenditures at newplants which did not operate in that year.

Textiles and Related Products.Estimates of annual building construction and of machinery expenditures for cen-

sus years at prices paid by textile manufacturers were secured in the manner pre-viously indicated. The textile machinery estimates included some allowances forattachments, but not for parts, in order to obviate possible double-counting of thelatter.

Textile machinery production in the intervening years was calculated by an inter-polation based upon textile machinery manufacturing pay rolls compiled by theBureau of Labor Statistics for 1923 and subsequent years. Machinery estimates forthe intercensual years 1920 and 1922 were derived by a relationship established graphi-cally between machinery production and building construction in the biennial censusyears throughout the entire period. Subsequent allowances were made for importsand exports of textile machinery. Estimates of the total textile building constructionand textile and allocable general-purpose machinery secured in this manner, accountedfor approximately 80 percent of the capital expenditures reported to the Bureau of theCensus for the year 1939 with allowances for undercoverage similar to that indicatedfor foods and related products.

Lumber and Lumber Products.Estimates of annual building construction and of machinery expenditures for

census years were secured in the manner previously indicated. Machinery expendi-tures in the intervening years were calculated by an interpolation based upon theshipments of woodworking machinery compiled by the Woodworking MachineryManufacturers Association. Estimates of the total of building construction andmachinery expenditures for the lumber and lumber products industries secured inthe above manner accounted for slightly more than 60 percent of the capitalexpenditures in 1939 based upon the Bureau of the Census returns with allowancesfor undercoverage.

j Pulp, Paper, and Allied Industries.Estimates of annual building construction and of machinery expenditure:- for census

years were secured in the same manner as set forth above for other industries. Themachinery production in intervening years was calculated by an interpolation basedupon the gross sales of machinery manufacturing concerns specializing in equipmentused in this group of industries.

This method of interpolation was also used in several other industries. For thepulp, paper, and allied machinery, the gross sales of a slightly varying number ofcorporations, usually 6 to 10 in number, were used. The total building constructionand specialized and allocable general purpose machinery for the pulp, paper, andallied products industries derived in the above manner accounted for approximately65 percent of the capital expenditures reported by establishments in these industriesto the Bureau of the Census with allowances for undercoverage.

Printing, Publishing, and Allied Industries.Estimates of annual building construction and of machinery expenditures for

• census years were secured in the manner described above. The method used ininterpolating expenditures for machinery in the intervening years was calculated byusing the gross sales of printing machinery manufacturing concerns.

The total building construction and specialized and allocable general purposemachinery for the printing, publishing, and allied industries derived in this mannerwas slightly (2 percent) larger than the capital expenditures reported by establish-ments in this industry to the Bureau of the Census in 1939 after allowances for someundercoverage. This is not surprising in view of the large proportion of specializedmachinery used in this industry. It is also possible that the adjustments for mark-upapplied to the production value of printing machinery reported by the machinerymanufacturing concerns engaged in this business may have been too large. (See p. 15,March 1941, Survey of Current Business.) Also, some of the printing machineryundoubtedly was sold to manufacturers who did a small amount of printing workfor their own purposes but did not report this branch of their work as a special censusestablishment.

Stone, Clay, and Glass.Estimates of annual construction and of machinery expenditures for census years

were secured in the manner previously indicated. The machinery production in theintervening years for this group of industries was calculated by an interpolation basedupon the gross sales of machinery manufacturing concerns which specialize in thefabrication of equipment used in these industries. The gross sales of approximately20 specialized machinery manufacturing concerns were used in interpolating the datafor intercensual years in this group of industries.

The total building construction and specialized and allocable general purpose ma-chinery, estimated in this manner for the stone, clay, and glass industries, accountedfor approximately 40 percent of the capital expenditures reported by the establish-ments in these industries to the Bureau of the Census in 1939 with allowances forundercoverage.

Since these estimates in most cases are based upon indirect methods and incompletereports they should be considered preliminary and subject to revision. The authorwould greatly appreciate criticisms or suggestions for improving these estimates frompersons who have special knowledge of data upon capital expenditures in particularmanufacturing industries.

December 1941 SURVEY OF CURRENT BUSINESS S-l

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

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

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

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

1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary

Febru-ary- March April May June July August Sep-

tember

BUSINESS INDEXES

INCOME PAYMENTS!Indexes, adjusted: §

Total income payments.. 1935-39=100..Salaries and wages . . .doTotal nonagricultural income do

Total mil.ofdoL.Salaries and wages:

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

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

mil. of do]..Dividends and interest doEntrepreneurial income and net rents and roy-

alties mil. of dol_.Total nonagricultural income do

AGRICULTURAL INCOME

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

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

Crops do.. .Livestock and products.. ..do

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

INDUSTRIAL PRODUCTION!(Federal Reserve)

Unadjusted:Combined indext 1935-39=100..

Manufactures}:- ._ doDurable manufactures! do

Iron and steel! ...doLumber and products* do

Furniture* doLumber* do

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

Cement __doGlass containers* doPolished plate glass .do

Transportation equipment*! doAircraft*! doAutomobile bodies, parts and as-

sembly* 1935-39=100.-Automobiles, factory salesd*!--doLocomotives* doRailroad cars* doShipbuilding private yards* do

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

Shoes* .doManufactured food products*!__.do

Dairy products*!-. doMeat packing do

Paper and products* doPaper and pulp* do

Petroleum and coal products* do..Coke* .do. . . .Petroleum refining do

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

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

Tobacco products. do

v 141.0v 147. 5v 137.9v 8,262

v 5, 386v 2, 472v 1,121

P947P767

P 7 9

P 1 4 6*830

p 1,812p 7,162

v 162. 0v 112.5P I O I . 5p 122. 5P 124. 5P 130.0

P 9 2 . 0

p 173P211191

p 146p 164P136p 236P!85P176185173117

P 2 7 01, 354

P 144110

P 3 7 8P 285P632p 143

P 153p 122p 121P 152*117134

p 129P 134P151

161P171

10P163133

115.8120.1116.56,812

4,3971,7551,00989760912790

149783

1,3936,054

117.080.569.090.593.594.570.5

135138159171132133132149152142154119127179552

1421421521412291211081-121981021269612712712411814511411312612612914477129120

116.6121.1117.26,362

4,3861,75099690361612190

145429

1,3125,702

96.579.566.691.599.591.074.5

136139161172126130123152158136145115129185600

143161163153219121104120

1168015112412411914811511213513713915187139115

119.0124.7119.77,534

4,5271,8051,046

913635128

93

1481,508

1,2586,950

86.085.572.098.0

104.096.089.5

136140164174121133114164162125124111141188635

13815218617226312193

1229995

11579

15912312411914911511213714014215479

14598

121.3' 127.8' 122.2

6,695

' 4, 422' 1, 779

'974905

••63313196

159790

1,228' 6,1E6

74.586.573.098.599.5

101.085.0

135139166179116123113168166110100110144194685

138151204178282118

87••122

10410610484

13312612812015011510914513814415472

136108

' 123. 1131.1

' 124. 6' 6,370

r 4, 523r 1,868

r984907

'639125

154432

' 1,165' 5,894

61.584.066.5

100.5102.0105.078.0

'140144171179119129115177173112102120131207741

14816122218230712294

'1241171211049212213113312015211511515114315214868149108

124.0132.4125. 66,977

4,6191,923'999913

'658126

154913

r 1, 193' 6, 476

68.088.579.597.097.5

100.082.0

144149178184123133118185179125117130141214768

150160234178335126100

'12912212810710512213613711915411412115514715615074152110

125.1133.6126.66,952

4,7141,9601,034920

'67912196

'148'793

1,201' 6,442

74.093.077.5107.0108.5114.582.6

144153182181130135128194184142139135142206818

136139

'257196

'354'130108

'13611812311213411913714012013311912415715016015873152113

128.6138.1130.0

4,9092,1241,049925

'695'116

152453

1,241' 6,294

83.596.582.0

110.0108.5118.583.6

155160192184134

'143130206190164163159142

'230'876

152164280218

'381'135120

'13512012412018213214114512614812212616215716416960165121

' 131.5' 142. 0'133.2' 7, 690

r 5,077' 2, 243' 1,083

930'717104

1511,094

1,276' 7,105

86.096.081.0

110.0107.6117.690.0

160165198184140160135214185172174163149244

'932

161164308

'233'425138129

'13811911912919912114314712815412412719215516017366163128

133.1143. 3134.47,474

4,9932,2771,088

937'605'86

90

'152

1,349' 6,810

99.098.583.5

112.5107.5122.590.5

159164

'19618514414914221618816617716096

'2291,003

'135134342233467138131139125128

'13919311914114512915412511615315516217369157123

' 136.7' 145.1' 135.9' 7, 277

' 5,082' 2, 3471,096942

'6178090

'149444

1, 512' 6, 466

123.0102.095.0

109.0112.5114.087.0

162167

'•199185152158148

'224'185172181172109221

1,123

11847

355236

'- 485142122142

'129135

'154183116146150131154128

'12113015416017050166122

f!39.1145.6136.58,064

5,2552,4001,114'947'715

'147

1,675' 7, 097

144.5110.099.0120.0

' 122. 5'129.0'88.5

' 167'172'206

192149

'160'144'227'188

174184166120

' 2 4 5p 1, 210

' 1 3 374

' 3 7 1' 248'556'145

137'148

127130

'159143119149151134152131

'124131

'15115616832

'170132

'"Revised. » Preliminary. c? Formerly designated as "automobiles." § Revisions in indexes due largely to changes in the seasonal adjustment factors.fRevised series. For revised data on income payments beginning 1929, see table 21, pp. 16 to 18 of the July 1941 Survey. For industrial production series, see note marked

with a " f on p. S-2.•New series. See note marked with a " t " on p. S-2. iRevisions appear in the September 1941 Survey see note marked with a " t" on p. S-2.

S-2 SURVEY OF CURRENT BUSINESS December 1941


1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary

Febru-ary March April May June July August Sep-

tember

BUSINESS INDEXES—Continued

INDUSTRIAL PRODUCTIONf—Con.Unadjusted—Continued.

Minerals % 1935-39=100Fuels* . _ do._

Anthracite doBituminous coal __. ___ _ do -Crude petroleum do

Metals* X - doCopper* ._ do _.Lead doZinc+ - - . . . do

Adjusted:Combined indexj __ _ do

Manufactures^ doDurable manufactures % .. .. do

Iron and steelj doLumber and products* do

Furniture* do _Lumber* do

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

Cement _ . . ._ __ doGlass containers* doPolished plate glass do

Transportation equipment* % doAircraft*% - doAutomobile bodies, parts and

assembly*. 1935-1939=100Automobiles, factory sales eft doLocomotives* doRailroad cars* _ ___ doShipbuilding (private yards)*..do

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

Shoes* . doManufactured food products*^ do

Dairy products*! _ doMeat packings do

Paper and products* doPaper and pulp*__ do

Petroleum and coal products* doCoke* doPetroleum refining do

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

Cotton consumption* doRayon deliveries*^ _ doSilk deliveries*. doWool textile production* do

Tobacco products do

Minerals! doFuels* _ do

Anthracite...- doBituminous coal doCrude petroleum do

Metals* % doCopper* X - -- - doLeadt doZineJ do

MANUFACTURERS' ORDERS, SHIP-MENTS, AND INVENTORIES*

New orders, total Jan 1939 — 100Durable goods do

Electrical machinery. . _ _ doIron and steel and their products doOther machinery doOther durable goods do

?' Nondurable goods do

Shipments, total _ doDurable goods _ _ ._ _ do _

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

automobiles) - doOther machinery . . . do^ __Other durable goods do

Nondurable goods doChemicals and allied products doFood and kindred products doPaper and allied products- _ do. . .Petroleum refining doRubber products do __Textile-mill products _ ._ _._ do __.Other nondurable goods do

p 139v 132p 123*>142P 1 3 0v 175

155

v 132

p 164p 170P 2 0 9p 191v 135v 151p 127r 236P 1 8 5v 158

159168102

P 2 7 0P 1, 354

p 144p 110p 378v 285*:632

P 1 3 8

p 148p 121p 119P 1 3 3

133

p 125p 134p 151

161p 171

10p 163

128

p 131p 129p 116p 127p 131p 146£ 150

p 132

v 192p 239P 3 2 3P 218p 258?223P 162

P 203p 239P 162P 2 5 7

p 615v 275p 227p 173p 186p 162p 195p 148P 2 1 4v 198p 162

12211299

110114178146117118

130134155172123122124149149126133115111165552

125130160148227

11610311697

10011812212712212111614511210912612312612971

132115

1131099498

115135141117118

172235253211231269131

146167148159175

234162173128129122133107163142132

11911598

128111146147114120

134137157171127125128152155130140114113171600

125134168166226

12096

r 11710711211711713312512411814711411013213513914677

140113

11811397

112115148143113120

171237258214209292129

148172158178176

261170172127130120134112164141130

11311611512711198

146118123

139142164174132128133164162140155119117177635

125129186172263

12410112110911312112513413013112014911611214414014215674

145114

118113108115113147145116123

172252294216267282120

152184161200195

336193167123124112146107169143123

11311711413011195

145116125

140144171179137132139168167154181123137190685

134144204178282

123105

••12310711011713111412912912215011711114113814415669

136113

11911498

117114148148116125

176246257256238231132

148175155181190

268181163124142114142110158140114

114118112134112

93155116126

144148176179135129139177173158183131138203741

143152222182307

126108

rl2410811212012712612812812215211711415314315214867

149116

118113102114113148153116126

189277303295277237132

159189165205198

325202176133146120148110171154134

11612110514311492

151116125

147151180184128132125185179150156139135207768

142143234178335

' 128104

' 12511411512112513413213312315411811615514615615071

152117

125121102149112148148118125

194285296304267263136

165198165209210

370217183136144123152114174157140

96877618

116148156121133

144153180181132139128194183142139135142197818

124122

'257196

r354

131107

-•13311411712313512613413612113311911815815016015874

152120

95867122

113149152119133

196277288304255247144

172205155231215

439230196142159127162121193166142

12711888

126118181159117127

154' 160

190184132

••152122206189141134148142

••229'876

152151280218

'381

135114

"13612312612413413214214512514812212216215716416971

165119

12612180

149114152159115127

207290308307276269154

180219172244235

443235206146164134168134214160129

131123116132120181152116136

159164195184135155125214184150138155152243

'932

161148308233425

139122

r H413013612713012414514912715412312819215616017373

163118

132129126153120152155117136

229330316289298429164

191233181252245

478267219154172144173139236178125

130121107128119184147110125

160165199185141161131216188151143154146

'2551,003

' 168154342233467

138130146129132

'12713312514715212815412412715315516217377

157114

131127137146119151156114125

212295339281294301159

185222159246245

452251210151164138173143213170137

134125120135122

' 187152116131

'161••166

199185140153134

'224'185

154148158133240

1,123

13993

355236

'485

139128145121

'12013313613414715213015412612913015416017056

166118

'132129162147119

' 148155116131

196257309223290285157

18821684

238262

513262226164166150181151203195164

' 137' 129' 122'144'124' 182' 152

120p 135

161'166'203

192137

'152' 129'227'189

156154163120

'245' 1, 210

'13374

'371'248'556

'137131

' 146119116

' 130140126144149132152128

' 12513115215616834

' 170121

'131' 128' 127' 139'124'146

154120

' 135

'202I '2601 '304! 249

'265'258' 165

'208'239' 118'267'265

'639' 301'237' 180

188'174' 192

151228

'206i 16r

Prel iminary. cTFormerly designated as "automobi les ."' Revised.

tRevised series Revised indexes of industrial production for 1919-39 (1923-39 for industrial groups and industries), including the new series, are available on pp. 12-17of the August 1940 Survey, except for subsequent revisions in the series marked with a " $" and data for all years for the new series on "automobile bodies, parts and assembly;"data for the latter series and revisions for the series marked lit" (with the exception of zinc and changes in the combined indexes for minerals and metals) are available intable 24, pp. 21 and 22 of the September 1941 Survey; the latter table includes also revisions of 1940 data for alcoholic beverages, petroleum and coal products, coke, rubberproducts, leather and products, shoes, textiles and products, wool textiles, fuels, anthracite and bituminous coal, and a 1939 revision for nondurable goods. Revisions forzinc and the combined indexes for minerals and metals will be shown in a later issue. . , . .

*New series. For industrial production series, see note marked with "f." For indexes of manufacturers' orders, shipments, and inventories beginning January 1939, seemonthly Surveys beginning with the September 1940 issue (description of data and figures for January-June 1939 are available on pp. 7-13 of that issue except for revisionsgiven in note marked with an " • " on pp. 20 and 21 of the November 1940 Survey.

December 1941 SUEVEY OF CURRENT BUSINESS S-3


1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary


tember

BUSINESS INDEXES—Continued

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

Inventories, totaL.. ...Dec. 31, 1938=100..Durable goods do

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

mobiles)... Dec. 31, 1938=100..Other machinery doOther durable goods do

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

v 142. 6v 155. 2v 181.2v 215.7v 125. 8

v 554. 2v 159.2p 118.4v 129. 0v 124. 6v 139. 5v 119.0P106.3v 139. 6p 141. 4v 122. 7

114.4121.2130.6122.1123. 8

228.8114.8104.9107.1110.1101.0110.398.7

124.6119.9103.2

116.5124.1130.7126.8126.9

251.9117.6105.9108.5110.5104.6110.797.7

124.4121.4104.2

119.3127.9134.7133.5129.4

271.1122.1108.3110.1114.1107.01]2.898.5

126.6119.0106.7

120.8129.7134.3140.4128.5

297.1125.6110.2111.2114.2105.8111.898.4

131.4119.7111.7

121.1130.7135.6148.2127.0

318.9128.2108.5110.8114.8103.9112.098.4

135.1121.5no.o

122.1131.8138.9157.1124.0

341.8129.9109.3111.8115.0105.1112.598.4

140.6125.1108.6

123. 6134.1144.3164.0123.3

356.8134.2110.0112.2115.8107.9111.399.3

142.4125.8105.8

126.3137.4144.1174.7125.6

381.2138.2110. 6114.4115.5114.2109.599.8

144.1128.5106.7

128.5139.1142.0181.0126.4

402.9140.7111.5117.1116.1119.2110.6101.4145.4132.5108.0

131.2140.8128.2188.8127.5

442.7144.9114.5120.8119. 6126.7112.9102.6148.1137.6108.3

134.4146.0151.9196.5126.8

474.3149.8115.5121.8121.9132.0114.6102.2143.6134.2108.0

'137.8>-t150.6-•173.8

202.2r. 126.0

'517.9152.0

r 116.8' 124.0'122.7r 134.2r 117.0r 104.1

135.6'135.8'113.9

COMMODITY PRICES

COST^OF LIVINGNational Industrial Conference Board:

Combined indext-— 1923 = 100.Clothing. do. . .Foodf do—Fuel and light do. . .Housing doSundries do. . .

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

Clothing* do. . .Foodt do. . .Fuel, electricity, and ice* do. . .Housefurnishings* __doRent* d o -Miscellaneous* do

PRICES RECEIVED BY FARMERS§U. S. Department of Agriculture:

Combined index.... 1909-14=100..Chickens and eggs doCotton and cottonseed ..doDairy products ..doFruits doGrains doMeat animals doTruck crops doMiscellaneous do

RETAIL PRICESU. S. Department of Labor indexes:

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

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

Apparel:Infants' doMen's doWomen's do

Home furnishings doPiece goods do

WHOLESALE PRICESU. S. Department of Labor indexes:

Combined index (889 quotations')..1926=100—Economic classes:

Finished products .doRaw materials doSemimanufactures do

Farm products doGrains doLivestock and poultry do

Commodities other than farm products*1926=100..

Foods ..doDairy products doFruits and vegetables doMeats do

Commodities other than farm products andfoods 1926=100..

Building materials doBrick and tile doCement! doLumberf do

Chemicals and allied products! doChemicalsf doDrugs and pharmaceuticalst doFertilizer materials! do

91.978.390.790.089.2

101.2

109.4112.8111.6104.0114.9107.5107.0

139146144145107101157164144

106.2

102.196.5

105.7108.5101.6

92.4

93.989.789.990.081.494.5

92.888.995.275.893.6

93.4107.396.692.7

129. 589.788.4

124.177.3

85.573.177.485.987.498.1

100.2101.696.299.9

100.4104.7101.6

991127811679

100

81.789.0

93.5

97.389.392.195.386.7

78.7

82.171.479.466.465.470.6

81.371.177.358.975.6

83.597.890.290.7114.476.985.095.868.1

85.573.177.286.387.598.1

100.1101.695.9

100.3!100.6104.7101.7

1207912171831129890

82.390.0

93.7

97.789.391.695.6

79.6

82.672.680.768.267.7

81.972.582.360.476.2

84.198.990.290.8117.577.585.195. 969.9

85.973.078.386.587.598.1

100.7101.697.3

100.7100.4104.9101.8

101122791287581111

82.590.2

93.9

97.689.392.595.787.0

80.0

82.873.680.769.767.072.7

82.173.584.261.277.0

84.199.391.190.9118.877.785.496.270.0

86.073.078.786.487.698.1

100.8100.797.8

100.8100.1105.0101.9

104100801217884130117104

83.090.3

94.2

97.689.393.095.887.3

80.8

83.574.681.371.667.683.0

82.773.780.259.683.2

84.399.691.390.8

118.478.685.696.570.7

86.173.178.886.487.798.2

100.8100.497.9

100.6100.4105.1101.9

1039080118808113015693

83.090.3

94.5

97.689.393.396.087.6

80.6

83.574.081.670.364.582.4

82.773.579.759.483.6

84.499.391.490.8117.278.585.796.970.4

86.373.279.286.487.798.3

101.2102.198.4

100.7101.6105.1101.9

1039082118838412913491

83.090.3

94.8

97.689.493.696.587.8

81.5

84.275.383.471.667.882.5

83.675.280.360.783.7

84.999.591.590.8116.779.885.997.270.4

73.381.086.487.8

102.2102.4100.6101.0102.4105.4102.2

110104881218990137161

83.090.1

95.5

97.689.593.997.7

83.2

85.577.585.174.470.986.2

85.077.981.063.885.6

85.9100.191.791.0116.781.886.497.571.0

87.473.682.286.488.098.5

102.9102.8102.1101.1103.2105.7102.5

11210798124899313814693

82.890.1

96.3

97.789.794.398.989.6

87.179.786.476.474.588.0

79.581.664.087.2

87.4100.491.991.5116.883.686.898.771.1

88.573.685.586.788.298.6

104.6103.3105.9101.4105.3105. 8103.3

1181181071269796144146

82.490.5

97.7

98.190.195.3

100.491.3

87.1

83.687.682.175.993.0

88.083.184.373.090.8

101.092.591.9

117.683.887.299.969.9

88.973.886.287.888.498.7

105.3104.8106.7102.3107.4106.1103.7

1251271211329398154130107

92.0

91,96.102.93.

90.186.187.985.876.3

89.384.787.779.493.8

89.7103.194.292.1

122.385.287.3

100.074.0

89.474.587.388.688.698.8

106.2106.9108.0103.2108.9106.3104.0

13113012813510099158133128

86.693.8

102.6

100.093.3

100.4104.997.1

90.3

91.587.689.587.479.699.0

90.787.290.370.397.5

90.8105.595.192.1

127.586.087.5

100.175.3

90.876.989.489.488.999.8

108.1110.8

r 110. 7103.7112.0106.8105.0

13914115014089106166145131

88.394.9

105.2

101.295.5

104.1106.999.9

91.8

92.890.090.391.085.3

101.1

91.989.593.370.799.4

91.6106.495.792.2

129.187.488.2

104.476.6

r Revised, v Preliminary. 'Number of quotations increased to 889 in January 1941. t For monthly data beginning 1933, see p. 18 of the April 1940 Survey.§Data for November 15,1941: Total, 135; chickens and eggs, 157; cotton and cottonseed, 136; dairy products, 148; fruits, 98; grains, 103; meat animals, 151; truck crops, 147;

miscellaneous, 128.^Covers 37 cities in September and October, 36 in November, and 35 beginning in December.{Revised series. National Industrial Conference Board's index of cost of living and food component and index of wholesale prices of lumber revised beginning 1935, see

tables 5 and 7, respectively, p. 18 of the January 1941 Survey. For the Department of Labor's revised index of retail food prices beginning 1913, see table 51, p. 18 of the NoTem-ber 1940 Survey. Data for chemicals and allied products and subgroups revised beginning 1926; see table 32, p. 18 of the August 1940 Survey.

*New series. For source of data on manufacturers' inventories beginning January 1939, see note marked with an "*" on p. S-2. For data beginning 1913 for the Depart-ment of Labor's cost of living series, see table 19, p. 18, of the May 1941 Survey; for index of prices of commodities other than farm products beginning 1913, see table 36, p. 18,of the September 1940 Survey.

S-4 SUEVEY OF CURRENT BUSINESS December 1941


1941

October

1940

October Nobveerm" Decem

1941Janu-

aryFebru-

ary March April May June

COMMODITY PRICES—Continued

WHOLESALE PRICES-ContinuedU. S. Department of Labor indexes—Con.

Commodities other than farm products andfoods—Continued

Fuel and lighting materials 1926=100..Electricity... doGas -. doPetroleum products do

Hides and leather products ...doHides and skins d o —Leathei doShoes do

House-furnishing goods doFurnishings doFurniture do

Metals and metal products doIron and steel d o —Metals, nonferrous doPlumbing and heating equipment.,do

Textile products d o —Clothing... do.. . .Cotton goods . . . d o —Hosiery and underwear doRayon* - -do—Silk* do... .Woolen and worsted goods._. d o —

Miscellaneous doAutomobile tires and tubes d o —Paper and pulp do

Wholesale prices, actual. (See under respectivecommodities.)PURCHASING POWER OF THE

DOLLARWholesale prices . 1923-25=100.Retail food pricest- d o —Prices received by farmers doCost of livingt ._.do._.

79. (

61.7112.6113.1100.9118.899.5

104.494.4

103.197.084.687.890.997.8

105.266.630.30)102.386.465.5

101.9

109.0113.4105.7110.6

71.671.682.449.0

100.493.890.9

107.088.695.081.897.394.983.680.573.685.771.561.429.544.786.376.958.893.2

128.0131.6148.6118.9

71.973.380.549.3

102.3101.293.2

107.188.695.081.897.695.383.980.574.585.773.661.529.542.888.877.558.693.1

126.5131.9148.6118.9

71.773.478.249.5

102.399.394.1

107.288.995.182.297.695.483.480.574.885.574.960.729.542.589.077.358.393.1

125.9130.0145.6118.3

72.172.577.550.0

102.499.194.4

107.489.095.282.697.795.783.680.575.286.675.859.929.542.589.277.158.293.1

124.7129.4141.4118.2

72.172.577.650.0

101.694.894.5

107.489.195.382.697.695.584.082.276.487.277.560.329.543.391.276.958.293.3

125.0129.2142.7118.1

72.070.077.049.9

102.699.194.8

107.489.595.882.997.795.784.382.878.487.781.160.429.547.793.277.658.493.5

123.6128.5142.7117.8

72.969.278.151.9

103.9104.795.6

107.890.497.183.497.995.984.383.081.088.786.861.129.548.393.378.658.894.5

121.0125.8133.7117.1

75.667.780.155.3

106.4110.396.9

110.191.498.084.398.196.184.483.083.090.991.061.329.549.194.179.658.896.7

118.6123.9131.2116.4

77.967.281.059.9

107.8112.497.9

111.793.199.087.098.396.584.583.184.591.694.661.929.551.294.680.658.898.0

115.6119.5124.5114.9

July August

78.566.8

109.4112.598.1

114.794.499.7

84.783.286.293.996.162.929.551.496.582.058.8

113.4118. 6117.6114.4

79.0

78.361.4

110.2112.298.5

116.195.4

100.789.998.696.984.486.888.395.1

101.563.829.552.098.283.760.8

100.7

111.5117.1112.2113.8

79.2

81.761.7

111.3112.1100.0117.197.2

102.192 2

84.487.189.796.1

104.264.429.80)101.485.160.8

101.7

109.7'114.3

105.7112.0

CONSTRUCTION AND REAL ESTATE

CONTRACT AWARDS, PERMITS, ANDDWELLING UNITS PROVIDED

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

Residential, unadjusted. _ .do—Total, adjusted.. do

Residential adjusted doF. W. Dodge Corporation (37 States):

Total projects - number..Total valuation thous. of dol--.

Public ownership __ -doPrivate, ownership do

Nonresidential buildings:Projects number-Floor area - thous. of sq. ft.-Valuation thous. of dol.-

Residential buildings, all types:Projects number.-Floor area thous. of sq. ft._Valuation thous. of dol..

Public works:Projects number.-Valuation thous. of doL-

Utilities:Projects number. .Valuation.. thous. of doL.

Families provided for and indicated expendi-tures for building construction (based onbldg. permits), U. S. Dept. of Labor indexes:

Number of families provided for. _. 1929*= 100--Indicated expenditures for:

Total building construction doNew residential buildings doNew nonresidential buildings doAdditions, alterations, and repairs--do

Estimated number of new dwelling units pro-vided in all urban areas (U. S. Dept. ofLabor) :f

Total number.-1-family dwellings... do2-family dwellings.._ _- -.doMultifamily dwellings do

Engineering construction:Contract awards (E. N. R.)§_.-thous. of doL.

HIGHWAY CONSTRUCTIONConcrete pavement contract awards:

Totalf. thous. sq. yd--Airports* - doRoads --_- doStreets and alleys do

P149

40,920606, 349370, 587235, 762

9,90754, 417

269, 553

29,24645,403

171, 772

1,26694, 563

50170, 461

77.7

36.857.3

3.2

406, 332

6,9752,8852,4601,630

90829585

34,084383,069174, 506208, 563

7,28434,028136,405

24,88840,778148,469

1,48273,220

43024,975

77.768.5

57.0

43,09930,1643,4759,460

702,842

6,882922

3,6732,287

8311187

31, 528380,347194,591185, 756

6,14433,890148,367

24,00942,151152,838

92151,430

45427,712

67.4

60.847.560.343.5

31,12623, 2112, 3755,540

382, 724

5,0501,1952,1971,658

7711590

34,959456,189257,693198,496

8,74642,129182, 618

24,17648,183159,275

76173,447

47640,849

63.445.667.440.2

29, 20221,2652,0735,864

398, 704

4,496644

2,2621,590

847010384

21,462305, 205111,124194,081

3,43823, 918118, 757

16, 93628, 450111,306

81259,622

27615, 520

63.7

41.843.827.543.7

27,02718, 6981,9176,412

584, 549

4,967832

2,814 ;1,321 I

76

25,001270,37396,425173,948

4,12019,71890,058

19, 74629, 322116,459

72542,242

41021,614

63.4

39.943.624.443.8

27,48020,5122,4294,539

424,269

2,083227819

1,037

94789474

32,304479, 903226, 392253, 511

5,66829,451201,458

25,32535, 801147,859

97584,592

33645,994

84.0

47.159.822.454.5

35, 29727,1732,7605,364

452, 430

3,5671,0291,531 i1,007 I

11793103

36, 380406, 675168,817237,858

5,23331, 509143,304

29, 49941,978166,462

1,28371,426

36525,483

116.3

65.382.234.162.5

46, 93036, 7622,8717,297

381, 563

5,0421,3582,0871,596

121104101

48, 531548,700254,836293,864

8,44644, 596202,492

38,09354, 571

201,274

1,58996, 501

40348,433

106.0

60.674.830.967.8

43, 56834, 7062,5906,272

409,371

7,7822,8043,4251,553

135111117101

46, 950539,106302,000237,106

6,26231,898200,456

38,52752.098205,634

1,70199,631

46033,385

112.6

54.980.719.769.2

47,03437, 7012,6796,654

589, 221

8,7763,1123,8781,786

153118139117

49, 637577,392346,498230, 894

8,33938. 242220, 612

39,42952, 895205, 049

1,487101,074

38250, 657

104.4

53.076.420.164.0

44, 83136, 2392,1516,441

958, 663

17,1249,5944,8252,706

159111152112

50, 551760, 233509,129251,104

10,76663,802286, 741

37, 23462, 773231, 529

1,871134,054

107,909

100.4

44.575.011.6

41, 00734,1662,3194,522

529, 561

9,5673,6062,9102,051

'162r 105"161'105

41,497623, 292399,932223, 360

7,82246,810

218,288

31,79143, 624

175,713

1,419131,123

95.6

42.0

11.554.3

39, 57133, 551

2,9453,075

514,251

6,0721,6242,6351,814

r Revised. v Preliminary. §Data for October 1940 and January, May, July, and October 1941 are for 5 weeks; other months, 4 weeks. J No quotation.*New series. For indexes of rayon and silk prices beginning 1926, see table 29, p. 18 of the May 1940 Survey. Earlier data for concrete pavement contract awards for

airports and for the total revised to include airports will appear in a subsequent issue.tRevised series. Indicated series on "Purchasing power of the dollar" revised beginning January 1935; see table 4, p. 18 of the January 1941 Survey. For revision in total

ooncrete pavement awards see note marked with an "*". Revised data on dwelling units for 1939 are shown in table 18, p. 17, of the May 1941 Survey. Estimates beginningJanuary 1940 cover urban areas as defined by results of the 1940 Census; revised data for earlier months of 1940 are available on p. 22 of the June 1941 Survey except for re-visions in April figures as follows: all types, 38,324; multifamily, 7,013.

December 1941 SURVEY OF CURRENT BUSINESS S-5


1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary

Febru-ary- March April M a y June July August Sep-

tember

CONSTRUCTION AND REAL ESTATE—Continued

HIGHWAY CONSTRUCTION—Continued

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

Highways:Approved for construction:

Mileage no. of milesFederal funds , thous. of doL.

Under construction:Alileage no. of milesFederal funds thous of dolEstimated cost. -do . .

Grade crossings:Approved for construction:

Federal funds doEstimated cost .do

Under construction:Federal funds doEstimated cost __ do

CONSTRUCTION COST INDEXES

Aberthaw (industrial building) 1914*100-.American Appraisal Co.:t

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

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

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

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

Commercial and factory buildings:Brick and concrete:

Atlanta doNew York _ _ doSan Francisco. do . . .St. Louis do

Brick and steel:Atlanta..- doNew York . , doSan Francisco doSt. Louis do

Residences:Brick:

Atlanta doNew York . doSan Francisco.. doSt. Louis. do

Frame:Atlanta doNew York doSan Francisco doSt. Louis do

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

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

Combined index... 1935-1939=100 .Materials doLabor _ . . . d o

REAL ESTATE

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

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

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

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

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

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

Federal thous. of dol..State members . . . doNonmembers . . . . do ..-_

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

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

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

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

Foreclosures, nonfarm:fIndex, adjusted 1935-1939=100..

Fire losses. _ thous. of dol..

2,74938,850

8,175131,914260, 556

11,85113,122

41, 52042,920

223219235209224

202

100.7136.3122.5121.5

102.4137.9124.6121.7

102.1135. 8128.4122.8

100.0138.0119.0120.3

98.8139.7115.8119.9

266.1

118.5116.0123.3

94,948

3,423,183

118.5116.0127.3

34.230,833

3,03032,356

8,906127, 250256,691

9,4739,855

35, 83137, 226

208198227191214

191

98.0132.9115.5120.2

99.1135.8118.6120.7

98.7132.2114.8120.5

96.2127.8107.8117.6

95.6126.7103.1116.6

247.2

104.6103.4106.9

92,083

2,559,984

114,400

41, 61040, 77116, 8405,7569,423

48,30746, 22419,869

1,515,392

181, 526

1,980,704

48.822,091

2,89233, 555

8,236121, 566244,464

9,0819,307

34,81336,352

208198228191214

192

98.0132.9115.51120.2

99.1135.9118.6120.7

98.7132.3114.8120.5

96.2128.2107.9117.6

95.6127.2103.3116.6

249.1

106.4104.6109.8

66,754

2,628,851

94, 567

32, 58433,87514, 4414,8698,798

38,89640,14315,528

1,533,246

185, 547

1,968,816

44.223,449

2,92635, 949

7,536113,922228,840

10,12310, 781

32, 48334,001

195

212202230194217

193

98.3133.5116.1120.5

99.3136.3119.0121.0

99.0132.9115.5120.9

96.7130.2109.9118.4

96.2129.7105.8117.5

249.7

108.1105.9112.5

56,878

2,706,353

88, 553

30,03231, 46514, 5754,2488,233

37, 71536, 72914,109

1,546,270

201,492

1,956,268

42.228, 617

3,04736,845

7,315113, 671227, 763

10, 57311,065

32,07233, 592

212208231194216

193

98.7133.8116.9120.8

99.6136.5119.6121.2

99.4133.2117.2121.1

97.7130. 7112.5118.6

97.5130.3109.1117.7

250.5

109.3106.6114.5

54,728

2,785,138

80,440

26,66227,80913,6453,7848,540

34, 36033, 94712,133

1.564,168

170,849

1,942,427

44.026,470

3,10036, 477

7,413115,932232, 054

10, 33110, 719

33, 22634, 715

212209231194216

193

98.7133.8116.9120.8

99.6136.5119.6121.2

99.4133.2117.2121.1

97.7130.7112.5118.6

97.5130.3109.1117.7

250.7

110.2107.8115.1

52,116

2,846,467

82, 330

26,48330, 28314, 2043,5737,787

35, 64535, 30111, 384

1,578,543

156,899

1,929,346

42.126,102

3,32239,100

7,773121,029241,877

11, 06011, 632

35, 29236, 768

197

212209231194216

194

98.5133.9119.3120.6

99.7136.6122.8121.2

99.2133.4121.2121.6

96.3131.3114.3116.2

95.2131.0110.5114.7

252.4

110.4108.0115.3

75, 516

2,908,104

105,162

33, 25041, 78416, 9034, 7658,460

45, 36543, 94715,850

1,600,482

145, 959

1,913,862

42.531, 471

3,62142,405

8,334126, 387246,119

13,00013, 535

37, 64839, 300

213213230196216

195

99.8134.0119.6121.0

101.7136.6123.0121.3

100.8133.7122.1122.1

95.6132.1114.5118.0

93.7131.9110.9117.0

255.6

111.2108.7116.1

92,406

2,968,407

120, 631

38, 68648, 31116, 9056,368

10, 361

51, 37150, 95618, 304

1,628,421

141,828

1,899,856

41.129, 330

3,76542, 755

8,777134,641261, 530

16, 75317,812

37, 38438,972

215214231196218

195

99.7134.0119.9121.1

101.7136.6123.2121.4

100.7133.7122.3122.2

95.2132.1114.6117.8

93.1131.9111.0116.6

256.8

111.6108.8117.0

119, 566

3,033,684

130,953

40,97554,78118, 5065,930

10, 761

55,39654,49521,062

1,657,647

145,273

1,885,087

38.325, 637

4,11848,889

8,921139,401270,967

20,45921,255

37, 71439,452

207

215214231197219

196

99.2134.9119.3120.3

101.3136.9122.7120.8

100.3134.3121.9121.5

94.6133.6115.0116.8

92.1134.2110.4115.5

258.2

112.4109.2118.6

122,963

3,108,723

133,640

44, 20755,99317,8915,6339,916

57, 54254, 85721, 241

1,688,297

169,897

1,870,305

36.724,943

3,87947, 264

9,054141, 569276,100

17,79818,765

39, 54840,939

219216233203223

198

99.6135.3120.8120.7

101.6137.1123.8121.1

100.9134.8127.3122.0

97.0135.9117.3118.3

95.2137.1113.3117.3

260.4

113. 6110.7119.3

114, 247

3,190,690

132,972

44,91855, 68216, 8166,0229,534

56, 56455, 67620, 732

1,717,507

168,145

1,854,824

37.323, 698

3,55744,693

8,840138, 675272, 079

14,66215,820

42, 77844, 249

221218234204223

198

100.5136.1121.5121.3

102.2137.7124.3121.5

101.8135.5128.0122.6

99.3137.5118.9120.0

98.1139.1115.3119.5

263.1

115.1112.6120.0

107,137

3,261,476

129,727

42,98755,97315, 7855,5719,411

57, 59254,54217, 593

1,750,934

172,628

1,840,686

'33.524,122

2,89938,404

8,615136,512268,926

12,42313,553

42,32843,771

211

221218235205223

200

100.7136.3122.8121.5

102.4137.9124.7121.7

102.0135.7128.7122.8

99.5137.7120.4120.3

98.3139.3117.6119.9

264.5

116.5•"114.4120.7

104,937

3,335,703

129,934

40, 78258, 05215,8715,8849,345

54,78654, 30320,845

1,775,284

178,191

1 824;672

'32.924,668

r Revised.§ Beginning with the September 1940 issue of the Survey indexes computed as of the first of the month are shown as of the end of the preceding month. The Engineering

News Record index is similarly shown in the 1940 Supplement as of the end of the preceding month.fFigures beginning April 1941 include mortgages insured under the defense housing insurance fund.^Revised indexes of the American Appraisal Co. beginning 1913 are available in table 44, p. 13 of the November 1940 Survey. Data beginning 1936 for the Federal Home

Loan Bank Board's revised index of construction costs and beginning 1926 for the index of nonfarm foreclosures are shown on p . 26 of the October 1941 survey.



1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary

Febru-ary- March April May JuDe July August Sep-

tember

DOMESTIC TRADE

ADVERTISINGPrinters' Ink indexes, adjusted:§

Combined index 1928-32=100.Farm papers do. . .Magazines doNewspapers do. . .Outdoor do

Radio advertising:Cost of facilities, total thous. of dol_

Automobiles and accessories do. . .Clothing do. . .Electric household equipment do. . .Financial do. . .Foods, food beverages, confections do. . .House furnishings, etc do. . .Soap, cleansers, etc do—Office furnishings and supplies do. . .Smoking materials do. . .Toilet goods, medical supplies do. . .All other do__.

Magazine advertising:Cost, total do. . .

Automobiles and accessories do. . .Clothing do__.Electric household equipment do._.Financial doFoods, food beverages, confections do. . .House furnishings, etc doSoap, cleansers, etc do. . .Office furnishings and supplies doSmoking materials do. . .Toilet goods, medical supplies doAll other do. . .

Linage, total thous. of lines.Newspaper advertising:

Linage, total (52 cities) de-Classified do. . .Display, total do. . .

Automotive do. . .Financial do. . .General do. . .Retail do. . .

GOODS IN WAREHOUSESSpace occupied in public-merchandise ware-

houses percent of total..NEW INCORPORATIONS

Business incorporations (4 States) number..POSTAL BUSINESS

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

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

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

Foreign, issued—value do..Receipts, postal:

50 selected cities do._50 industrial cities do..

RETAIL TRADEAll retail stores, total sales*.- mil. of dol__

Index, unadjusted 1935-39=100..Durable goods doNondurable goods do

Index, adjusted doDurable goods doNondurable goods do

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

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

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

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

Grocery chain-store sales:Unadjusted 1929-31=100-Adjusted do

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

Chain-store sales and stores operated:Variety chains:

H. L. Green Co., Inc.:fSales thous. of dol..Stores operated number..

S. S. Kresge Co.:Sales... thous. of doL.Stores operated number..

S. H. Kress & Co.:Sales thous. ofdoL.Stores operated number—

67.786.382.1

9,66677860

142

2,73973

1,0600

1,3263,139

449

17,8852,1181,389

436376

2,8931,214

455291782

2,9394,9942,534

123,81522,010

101, 8055,6071,551

19,99374, 654

1,412

5,20753,186

17,084149,199

36, 9484,424

4,651138.5137.6138.8131.6128.3132.7

J>72

146.0153.0

P145. 8»145.1

P122.4v 124.4

4, 600151

14,102671

8,427242

85.466.183.078.878.8

742500

922,530

1031,011

21,3022,6091,390

16, 6262,7421,216525452

2,4401,177441219776

2,4334,2072,432

118,78422, 78695, 9976,4711,60618,51169, 409

72.6

1,632

1,866

4,52742, 719

15,096119,5001,478

r 35,2344,194

4,143123.5139.3118.4117.2130.0113.1

154124

120.0132.0

104.7103.2

112.4111.8

108.0109.7

3,992150

12.626682

7, 514241

84.966.785.379.762.5

9,01672474091

2,4809394916

1,2812,365943

15,8612,427878531432

2, 582945471248874

2,2954,1802,460

113,19121,07192,1194,9731,35916, 79668, 992

73.9

1,479

1,668

4,37341, 646

14,177111,8641,843

33,2013,686

128.4141.7124.1123.4136.0119.3

163135

124.0136.0

105.2105.3

115.3115.3

112.9109.7

4,395150

13, 290

7, 659242

92.173.980.787.684.4

9,30785763

(•)97

2,664105

1,00117

1,3762,626503

13, 5891,270745646336

2,003684240345682

2,0814,5581,691

122, 78621,918100,8684,1241,742

13, 54981, 452

75.1

1,792

1,890

4,91445,154

15,876123,4301,719

45, 3905,539

4,752148.2155.0146.0124.5148.5116.7

150169

128.0149.0

140.3103.8

120.8117.2

225.2110.3

7,972150

24,683684

15, 732242

82.963.472.677.779.8

9,082780590

1052,557

671,052

171,4162,639390

8,7131,05630594321

1,615264190137673

1,1772,8821,888

93,17121,35371,8183,6632,29512, 54453, 315

75.8

2,084

1,761

4,87944,982

14,541111,6381,328

32, 3164,001

3,639110.2120.5106.9130.3156.8121.7

143178

124.0133.0

104.1108.7

118.4122. 0

80.5109.9

2,890150

9,409678

5,921242

59.480.980.589.3

8,10669860

(fl)92

2,290469150

1,2632,355387

12, 5201,584592245380

2,198433435219702

2,1353,5962,319

93, 96320, 69073, 2725,2501,43214,80651, 784

76.6

1,712

1,813

4,49643,005

13,530104, 7541,195

30,5363,777

3, 537118.1137.6111.8136.6173.7124.6

178209

130.0133.0

100.4107.4

123.4122. 8

92.1116.2

149

10,150675

6,222242

87.761.383.780.0

104. 5

8,979807

620

992,623

581,040

01,3362,488

467

17,9112,5421,210

694551

2,763844568304973

2,4724,9912,920

114, 37724, 71289, 6655,9071,841

17, 22864, 689

76.2

1,872

2,018

5, 55353, 309

16,096128, 510

1,244

34,0364,159

4,207127.9155.1119.1135.2167.6124. 7

215185

128.5144.0

109.2109.7

127.4126.1

94.8113.2

3, 546149

11, 507675

7,156242

89.068.884.183.283.5

8,655636

460

992,527

471,045

01,3522,587

316

17, 9782,8161,124

832449

2,4441,096

548235795

2,5055,1332,686

119,23024,91194, 3186,9061,976

17, 62567,811

78.1

1,804

2,062

4,84546,535

15,054118,156

1,125

34,4864,193

4,598142.2182.9329.0136.2166.2126.5

235189

132.0148.0

107.7111.4

130.2126.4

116.1116.4

4,227149

13, 314673

8,062242

91.063.383.685.090.7

8,595656

690

1002,614

45994

01,3942,444

279

18, 7383,0861,165

849454

2,4101,403

567301943

2,3405,2202,515

122, 44325, 62496, 8186,9391,743

18, 31469, 822

79.0

1,732

4,79446, 898

14,802116,544

1,155

33, 7223,961

4,895146.6196.7130.4141.5174.8130.7

246210

132.0145.0

112.2116.0

130.8128.9

110.2114.0

4,315150

13,443673

7,958242

87.864.582.180.784.5

8,427664

410

992,535

55957

01,2962,451

329

15, 4272,267

803612380

2,292893397198863

2,4564,2671,890

108,43224, 29484,1384,9181,664

16,36261,193

80.2

1,500

4,82147,001

14,516116,275

1,133

31,2023,824

4,576145.1190.3130.5138.0163.9129.6

214182

133.0136.3

109.7116.1

135.5133.5

111.3116.8

3,927151

12,127672

7,724242

88.656.991.678.592.5

8,263672

310

992,223

441,092

01,3282,540

233

10,8231,416

222315277

2,109320275122763

2,0332,9721,716

88,82822, 37866, 4513,1081,889

13,09448, 360

80.2

1,638

4,70247, 643

14,833122, 895

1,328

30, 6373,887

T 4, 470135.5172.1123.7143.3169.5134.8

169196

141.0159.0

109.9115.3

133.7136.4

111.9122.2

3,733151

12, 016672

7,582242

90.568.386.581.989.9

7,979637460

762,138

551,009

01,3092, 458

252

90.761.885.081.4

110.0

8,086630670

632,220

43988

01,2522,596

227

11, 2811,346

681196278

2,110286331241606

2,0093,1982,066

95, 70723,30672, 4013,0341,337

11, 69256, 338

14, 6431,2541, 337

276412

2,133829333359699

2.4354,5762,514

107,16021, 74585. 415

2,9801,534

15,34365, 558

79.9 79.5

1,343 1,332

4,63647, 573

14, 567122, 493

1, 458

30, 4423,712

r 4, 608' 140.1' 155.6r 135.1'149.3' 163. 5' 144. 7

' 9 3130

151.0184.0

113.9119.9

136.8142.5

113.1128.9

4,290151

13,366671

8,022242

4,93250, 413

14,795

33,0873,948

' 4, 483- 141.0' 139. 2'•141. 6' 136.5' 140. 0' 135. 4

62'56

147.0164.0

"113.5v 118. 2

137.8140.7

r 120. 4r 125.3

4,218151

12, 809671

8,483242

' Revised. v Preliminary. « Less than $500. §Includes data for radio advertising not available separately since November 1940.fRevised series. Revised indexes of variety store sales beginning 1929 appear in table 30, p. 10 of the August 1940 Survey. H. L. Green Co. data revised beginning Feb-

ruary 1939; for an explanation of tbe revision and revised data, see notes marked with a "f" on p. 24 of the September 1940 and Decen ber 1940 Survey. For revised data onvalue of new passenger-car sales beginning 1929. see p. 20 of the August 1941 Survey, and for an explanation of the revision, pp. 18 and 19 of that issue.

•New series. For data on sales of all retail stores beginning 1935, see table 5, p. 24 of the October 1941 survey. For data on drug-store sales beginning July 1934, seetable 1, p. 11, of the November 1940 Survey.



1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary

Febru-ary March April M a y June July August Sep-

tember

DOMESTIC TRADE—Continued

RETAIL TRADE—Continued

Chain store sales and stores operated—Con.Variety chains—Con.

McCrory Stores Corp.:Sales thous. of doL.Stores operated number..

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

F . W. Woolworth Co.:Sales thous. of doL.Stores operated number..

Other chains:W. T. Grant Co.:

Sales thous. of doL.Stores operated number..

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

Department stores:Collections and accounts receivable:

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

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

Sales, total U. S., unadjusted—1923-25 =100_.Atlantat 1935-39=100..Boston 1923-25= 100..Chicagot 1935-39=100..Cleveland 1923-25=100..Dallas doKansas City 1925=100..Minneapolis! 1935-39=100..New York 1923-25=100_.Philadelphia do___.Richmond doSt. Louis doSan Francisco§ do

Sales, total U. S., adjusted! do . . . .Atlantaf 1935-39=100..Chicago f doCleveland 1923-25=100..Dallas doMinneapolis! 1935-39=100..New York 1923-25=100..Philadelphia doSt. Louis doSan Francisco§ do

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

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

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

Montgomery Ward & Co doSears Roebuck & Co do

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

East doSouth doMiddle West d o . . . .Far West do

Total U. S., adjusted doEast doSouth doMiddle West doFar West do

4,422201

5,575204

32, 6142,025

11,863493

38,7181,603

11213897

123109127106140112

P 9 5167119

10512511710511311798

?82106

10.8

p 108

164, 39468, 13896,256

216.4221.8299.9187.7223.0166.6172.3202.4147.8185.7

3,768202

4,612202

• 28,6352,024

• 10,169494

• 29, 5811,582

96.018.1

79.746.9101125911129711195127

' 1098714910110394112

'10694991069575

11.8

7971

133, 85756, 93776, 920

158.4167.1207.9138.3165.9122.0129.8140.3108.9138.2

4,058202

202

29,6882,023

10, 569494

33, 7651,586

100.718.5

83.048.811414192130116131991181201001481121161001291181081171171018296110

10.5

8372

127,93854, 61373, 324

179.4176.0233.9164.5186.5137.9136.6170.3125.5153.8

8,028204

9,042204

54,5712,025

20,030494

45, 7161,586

109.018.1

105.344.917922314519917820115817318414823916718810112911810411611110281101109

7.0

6671

166, 72370,85095,873

233.7256.2268.3210.6245.2146.1153.9178.7135.0150.2

199

3,479204

22,0082,021

6,655494

20,2841,586

103.617.6

84.847.5799369897596759278559980901011221131001261159977100109

11.7

6471

83, 46633, 49549, 971

110.9112.3139.0102.3110.5145.7147.7175.7133.7150.3

3,224199

3,531204

23,6662,023

6,771492

18,3451,587

101.217.5

74.944.68111063948410076797963948190103127112107118111978294108

12.7

7073

83, 83233, 84149, 992

122.0128.0161.8110.3111.1150.8156.5177.4138.7150.1

3,691199

4,021204

26,4362,020

492

22,7721,589

99.419.2

74.546.393125741099511295108847412197991031251161081181099882107111

11.7

7574

110,86644,48566,381

130.7138.5160.5117.7138.4148.9154.2177.8132.8168.1

4,241199

4,949204

29,4942,015

9,805493

27, 5551,591

101.718.8

80.146.110613786120115117931221008814211111010414111810511811910387105112

10.7

7674

133, 78758,06875, 719

151.7163.4176.6139.7146.7165.1171.4200.5149.6164.3

4,101200

5,302204

29, 7782,020

10,576493

29,3831,591

103.319.0

81.147.7105136891251111241001229587146105

1051381241031241249987105

10.8

145,35960, 52084, 839

148.5158.2167.0144.3132.9161.8172.0196.9152.4147.9

3,923200

204

27, 6532,018

9,537493

28, 3901,593

102.6' 17.7

79.446.21001148211910511085114988112992

10413412310712311510283100

9.5

7377

131, 43952, 87278, 568

148.7163.2163.3143.4143. 6163.2177.7203.1151.9150.7

3,948201

4,971204

28, 3982,018

8,731493

26,1431,593

101.217.6

71.046.179102639285937993816210782

11514813111713213111491119

11.8

7382

121,17648, 30572,870

129.7151.1134.1120.9131. 6177.7212.2197.5163.9160. 5

4,320201

5,379204

30, 7132,019

10, 069493

32,3851,596

107.618.8

78.045.01061448212212012810612710080139106

134163154145166145134107141

17.4

87

145, 51957, 80387, 716

170.7186.0183.9153.3194.7208.7233.3255.0185.8211.4

4,164201

4,870204

30, 0972,018

10, 063493

33,6451,598

18.9

45.112515810015113015111414212594

'153128

116146

'13712413612412094120

12.0

9592

145,49559, 78085, 714

183.8181.9239.8158.8221.2173.9185.1217.2154.9189.1

EMPLOYMENT CONDITIONS AND WAGES

EMPLOYMENTEmployment estimates, unadjusted (U. S. De-

partment of Labor):*Civil nonagricultural employment, total

thousands..Employees in nonagricultural establish-

ments, total thousands..Manufacturing doMining doConstruction doTransportation and public utilities.doTrade doFinancial, service, and misc doGovernment do

Military and naval forces _do

40, 749

34, 60612, 768

9081,9803,3647, 0684,2524,2662,014

37, 375

* 31, 23310, 914

8561,6543,1216,7064,1053.876

733

37, 528

31, 38510,994

8531,7093,0656,7954,0883,881

822

38,161

32, 01811,127

8551,7203,0397,2474,0993,931

884

37,142

30,99911,075

8521,6233,0126,4874,0633,887

958

37,448

31, 30511, 273

8541,6783,0286,4914,0753,9061,145

37, 761

31,61811,457

8641,6313,0566,5784,0973,9351,343

38, 228

32, 08511, 684

5641, 7753,1136,7924,1743,9831,546

38,902

32, 75911,886

'8691,7823,1856,7534,2354,0491,662

39,475

33, 33212,154

8761,8163,2396,8614,2604,1261,740

39,912

33,76912,395

8881,8953,2906,8374,3004,1641,857

40, 289

34,14612, 592

9001,9213,3266,8974,3004,2101,944

40, 715

34,57212, 782

9061,9573,3657,0084,325

' 4, 2481,992

' Revised. » Preliminary. §Indexes are in process of revision.tRevised series. Indexes of department-store sales in Atlanta and Minneapolis districts revised beginning 1919, and Chicago beginning 1923; for Atlanta, see table 53,

p. 16 of the December 1940 Survey; for Minneapolis, table 20, p. 18 of the May 1941 Survey; revised Chicago data will appear in a subsequent issue. For revisions in adjustedindex of United States department-store sales for 1935-39, see note marked with a "t" on p. 25 of the January 1941 Survey

*New series. Indexes of department-store receivables are available only beginning January 1940: 1940 data not shown above are available on p. S-7 of the September 1941Survey. Estimates of total civil nonagricultural employment, employees in nonagricultural establishments, manufacturing, and service industries (included in the miscel-laneous group) have been revised beginning January 1929 and trade beginning January 1935, to adjust monthly estimates to the 1939 Census levels of employees in manufactur-ing concerns engaged in clerical, distribution, or construction activities, and retail trade employment and to figures shown by the 1930 Census of Occupations; the revised datawill be published later. Data for raining, construction, transportation and public utilities, Government, and military and naval forces are correct as published in table 11, onpp. 17 and 18 of the March 1941 Survey.



1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary


tember

EMPLOYMENT CONDITIONS AND WAGES—Continued

EMPLOYMENT—ContinuedEmployment estimates, adjusted (Fed. Res.):*

Civil nonagricultural employment, totalthousands..

Employees in nonagricultural establish-ments, total thousands. -

Manufacturing doMining . . doConstruction doTransportation and public utilities.doTrade do

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

Durable goods! d o —Iron and steel and their products, not in-

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

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

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

Lumber and allied products d o —Furniture doLumber, sawmills _ .do

Machinery, excl. transp. equipment . d o —Agricultural implements (including trac-

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

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

windmills 1923-25=100--Foundry and machine-shop products, doMachine tools* d o —Radios and phonographs do —

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

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

Transportation equipment! doAircraft* _ doAutomobiles doShipbuilding* do

Nondurable goods! doChemical, petroleum, and coal products

1923-25=100-.Chemicals doPaints and varnishes doPetroleum refining doRayon and allied products do

Food and kindred products doBaking doSlaughtering and meat packing do

Leather and its manufactures doBoots and shoes do

Paper and printing doPaper and pulp do

Rubber products doRubber tires and inner tubes do

Textiles and their products! doFabrics! .- doWearing apparel do

Tobacco manufactures--, doManufacturing, adjusted (Fed. Res.)t do

Durable goods! do- -.Iron and steel and their products, not in-

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

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

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

Lumber and allied products doFurniture doLumber, sawmills _do

Machinery, excl. transp. equipment-doAgricultural implements (including trac-

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

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

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

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

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

Stone, clay, and glass products.- doBrick, tile, and terra cotta doGlass do

Transportation equipment! doAircraft* doAutomobiles doShipbuilding* - do. . . .

40,160

34,01712, 564

8851,7953,2916,987

135.1143.7

139.8

148.2116.3

107.9135.879.8

108.469.2

180.3

170.8

169.9

340.2147.6361.4216.4147.2193.4102.778.0

133.2200.0

9,156. 7125.6483.7126.9

148.5182.7144.0128.6326.4151.3153.9126.198.594.8

126.5128.0111.686.0114.6106. 1128.967.3132.5142.0

138.6

148116

106132

76.410267

179.5

181

169

319

148360177

143.0191

99.574132

201.29,440

126479

r 36, 831r 30,688' 10, 723

8351,4903, 053

' 6, 630

113.8112.8

117.1

125.2105.3

85.6101.474.496.866.6

127.3

134.9

116.1

191.6106.7257.9163.6126.1154.987.565.0

113.2139.5

4,115.9125.1197.4114.8

125. 4145.6125.1121.2311.1141.3145.9109.690.088.4

117.6115.192.673.9

104.596.1

118.966.5

111.4111.2

116.1

125105

8499

71.39164

126.6

143

116

197

107257134

122.3153

84.761

112140.24,243

125195

' 37, 364

'31,221' 10, 957

8331,6693.053

' 6, 698

114.7115.5

119.3

127.3109.0

86.5100.274.497.066.1

131.2

136.6

120.6

200.5110.1265.9159.4129.9162.488.664.8

117.0146.0

4,402. 3129.8204.1113.9

125.3148.0125.9120.7314.5132.5145.5116.287.084.1

118.5115.794.475.2

105.598.7

116.266.8

114.2114.6

118.9

127109

86103

73.69366

130.9

140

120

211

110265142

126.3162

88.465

117143.94,447

127204

' 37, 972

' 31,829' 11,160

8371,9743, 064

' 6, 770

116.2117.6

121.6

129.5112.5

90.498.973.797.464.7

136.1

143.2

125.8

210.5114.1276.0158.5131.2168.188.765.2

116.8149.2

4, 684.1130.2221.0114.8

125.7149.9126.0119.8315.1130.5144.1125.090.688.0

119.5115.997.576.9

107.0100.4117.265.6

116.6117.5

122.4

130113

91104

75.29667

136.0

143

126

218

114275150

129.4168

90.468

117145.64,731

124220

r 38,097

' 31,954' 11,297

'8492,0143,077

' 6, 630

115. 5118.3

122.2

131.3112.8

93.5101.871.393.762.5

139.8

149.6

129.4

222.4117.4285.8147.5131.1171.685.964.8

114.4152. 6

5, 037. 7128.5240.3112.7

126.3152.0126.3119.1313.5121.4140.5116.393.491.4

116.7115.798.877.9

106.499.7

116.860.8

118.3121.1

124.8

133113

96109

76.39768

141.2

147

131

237

118286155

133 3173

94.675

120150.45,089

123244

' 38,314

'32,171' 11,335

8462,1323,087

' 6,662

117.8121.0

125.0

133.3114.9

95.9104.172.095.862.9

143.5

144.2

136.4

236.3120.0297.2144.8134.7176.086.964.1

115.8157.2

5, 344. 0130.1256.6114.7

128.5155.112«.6119.2311.0119.1142.9110.696.995.0

117.1117.3100.778.6

110.1101.7124.263.7

118.6122.1

125.5

133114

100112

75.59867

144.2

140

137

239

120296165

135.1176

92.974

116152.95,398

123262

' 38, 263

' 32,120' 11,413

8551,9333,105

' 6, 677

119.9123.7

127.2

135.0117.1

97.2107.172.696.763.7

147.7

132.6

141.5

247.6123.6307.1149.1137.0180.589.765.4

119.5161.2

5, 563. 7131.5272.4116.3

131.6159.3132.9119.5312.2120.3145.0110.798.797.0

118.1118.5102.880.0

111.6102.7127.263.3

119.4123.0

126.2

133116

100113

74.09865

148.1

126

142

243

124304178

136.2179

92.371

118154.15,509

123268

' 38, 320

' 32,186' 11, 636

5721,8593,133

' 6, 803

122.6127.7

129.4

137.4116.6

99.1109.573.897.665.2

156.2

168.5

147.3

257.2130.0316.7158.5138.7182.693.069.2

121.8166.5

5, 929. 2132.4295.8117.8

135.7162.4137.4120.5317.9123.6146. 5110.298.095.8

119.4120.3105.082.3

112.1103.7126.263.5

122.0126.3

128.3

136115

101113

74.2101

65155.8

158

147

245

129315189

138.9181

92.370

121' 158. 9

5,813125

'286

' 38, 824

' 32,681' 11, 886

8771,6983,192

' 6, 781

124.9131.3

132.9

140.6116.7

102.3120.574.7

100.165.7

162.5

170.7

154.0

271.5134.9327.4173.7139.9184.395.672.7

124.0172.0

6,305.1134.1310.7118.8

135.4166.8141.4122.0323.5127.4149.0116.895.593.0

120.8122.7106.483.3

112.5105.1124.264.9

124.9129.5

132.0

140116

103122

74. 6104

64' 161. 6

166

153

259

'134326197

140.7183

92.169

122' 164. 8

6,121128

'302

' 39, 296

' 33,153' 12, 221

8891,6443,220

' 6,865

127.9135.1

136.1

144.0118.3

105.5132.076.8

103.867.1

167.7

171.8

158.8

285.5139.1338.5180.7141.9

' 189. 397.174.7

125.5178.1

6, 733. 8134.8338.6121.1

136.8172.1144.8125.2327.0135.2152.2120.398.194.9121.6124.6110.786.3112.6106.2121.965.5128.7134.0

136.0

145118

10412975.910665

'167. 3

170

159

275

'139337184

144.1191

93.769124

'174.66,538

132'342

' 39, 908

' 33, 765' 12, 610

9141,6683,264

' 6,944

'130.7137.7

137.7

147.2' 103. 8

' 107. 4138. 879.5105.670.0172.3

171.4

163.8

297.8142.6346.0188.7

'143.7189.799.677.6127.9179.5

7, 280.0126.9375. 3' 123.9

' 139. 0175.8145.5127.4324.4

' 144.8150.2

'123.1101.098.1123.0126.0111.487.4113.2107.0

' 122.265.4133.3

'140.8

' 139.0

149'105

105131

'78.910868

' 173. 0

175

164

'143349191

148.3193

98.673131

'196.67,208'149'387

' 40,097

' 33,954' 12,611

9231,6663,302

' 7,027

' 133.0' 138. 7

139.9

149.1113.2

'110.0145.381.0108.470.7

' 176. 5

172.0

167.4

' 314.1' 145. 6351.5202.4

' 146.1' 192. 9101.379.4130.0

' 171. 57,959. 9109.3

' 388. 3' 127. 7

'141.9180.1

' 144.8127.9329.3

' 159. 3152.7

' 122.4101.198.3

123.9127.8111.886.7

r 115.4106.9

' 129. 665.8

133.0141.1

140.3

150116

106132

78.410768

176.6

182

168

314

144366187

148.1195

98.474

130192.27,960

137397

' 40,019

' 33,876' 12, 551

908' 1, 683' 3, 303' 6, 968

' 135. 3' 142. 2

' 140. 5

' 148.9'115.8

' 109. 3' 145. 0'80 .5

' 108. 3'70.4

' 178.5

' 170. 7

' 168.7

' 323. 0'147.0' 356.4

212.5'147.9

194.9'101.8

79.1' 130. 3' 190. 88,571.2' 123. 4' 439. 6' 128.7

' 146. 5' 182. 0'143.9'128.5

327.0' 162. 7' 153. 5' 123. 6'98.9'95.2

' 124.8' 128.3' 111.5'86 .5

' 115.5' 106. 3'131.2' 163. 8' 132.4' 141. 3

' 139. 7

149'116

'106'132

'77.4'104

68'.177.7

'181

168

'321

'147'355

183' 146. 6

195'98.7

74'130

' 195. 0' 8, 836

'127'437

' Revised.tRevised series. For revised indexes, beginning in 1937 for all industries and nondurable goods, and January 1938 for durable goods, see table 12, p. 18 of the March 1941

Survey. Slight revisions were made in data for textiles and products and fabrics beginning 1933; revisions not shown on pp. 25 and 26 of the May 1940 Survey are availableupon request. Index for transportation equipment revised beginning January 1939; see table 57, p. 17 of the December 1940 Survey.

•New series. Adjusted estimates of employment beginning January 1929 will be shown in a subsequent issue. For indexes beginning 1923 for machine tools and ship-building, and index for 1931 through 1938 for aircraft, see tables 39 and 40, pp. 15 and 16 of the October 1940 Survey; for aircraft indexes (revised) for 1939, see table 57, p. 17 ofthe December 1940 Survey.



1941 1940

October § October Novem-ber

Decem-ber

1941

Janu-ary

Febru-ary March April May June July August


EMPLOYMENT—ContinuedManufacturing, adjusted (Fed. Res.)—Cont.f

Nondurable goodsf 1923-25=100-Chemical, petroleum, and coal prod..do

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

Food and kindred products doBaking doSlaughtering and meat packing do

Leather and its manufactures doBoots and shoes do


Rubber products. doRubber tires and inner tubes do

Textiles and their products! doFabrics! do.Wearing apparel do.

Tobacco manufactures.. do.Manufacturing, unadj., by States and cities:

State:Delaware _ 1923-25=100..Illinois! ...1935-39=100..Iowa . . . 1923-25=100 .Maryland 1929-31 = 100..Massachusetts... 1925-27= 100. _New Jersey 1923-25=100-New York . . 1925-27 = 100..Ohiot 1935-39 = 100Pennsylvania.... 1923-25=100-.Wisconsint--- 1925-27=100-.

City or industrial area:Baltimore 1929-31 = 100-.Chicagof 1935-39=100..Cleveland 1923-25=100-Detroit do . . .Milwaukee __ 1925-27=100-New York doPhiladelphia 1923-25=100-.Pittsburgh doWilmington do

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

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

Public utilities:Electric light and powerf doStreet railways and buses! doTelephone and telegraph! do

Services:Dyeing and cleaning doLaundries doYear-round hotels do

Trade:Retail, totalt do

General merchandising! doWholesale do

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

Construction (Federal and State) doMaintenance (State) do

Federal civilian employees:United States doDistrict of Columbia do

Railway employees (class I steam railways):Total thousands-Indexes: Unadjusted 1923-25=100..

Adjusted . . .doLABOR CONDITIONS

Average weekly hours per worker in factories:Natl. Ind. Con. Bd. (25 industries)...hours-.U. S. Dept. of Labor (90 industries).--do

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

Beginning in month thousands--In progress during month do

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

Placement activities:Applications:

Active file thousands..New and renewed do

Placements, total doUnemployment compensation activities:

Continued claims thousands..Benefit payments:

Individuals receiving payments§___doAmount of payments thous. of dol—

r Revised.

123.5145.9

180144128325

139.8152126

99.796

124.9128

110. 186

112.6105.2124. 564.1

138.9139.1161.5145.7100.2

126.9

111.0126.5

144.9139.4134.2117.3135.9126. 7116.3117.9121.7

50.395.079.461.353.8

93.97C.190.6

121.0110.995.6

100.9115.696.6

68.266.3

1,960

4,2321,488

539

2,542

43021, 430

111.5' 122. 8

143125121310

129.9144110

91.190

116.1115

91.674

102.695.2

114.863.3

110.2113.9142.4113.384.9

116.699.7

111.093.9

104.2

110.3113.2107.8120.2110.5102.593.796.693.4

49.489.272.662.448.8

92.368.779.1

109.4100.293.4

94.3103.591.0

129.3341, 926161, 252140, 326

1,091,931149,389

1,09460.158.4

39.939.3

267419

72108915

4,6191,391

407

4,006

32, 231

113.8' 123.9

147127120311

132.4144114

93.892

116.8116

93.675

105. 397.7118.063.4

104.9116.2147.0115.385.3118.0101.0112.995.2105.2

111.7115.9109.4122.0111.2102.595.798.495.7

50.489.872.561.347.2

91.868.779.2

106.099.792.3

96.3111.491.8

121.1289, 232121, 545128,499

1,114,068152, 538

1,06558.458.0

39.638.6

207373

62102740

4,5681,333365

3,622

67629, 561

115.7125.3151128120314

135.6144121

94.393

117.3116

96.877

107.298.7121.964.7

108.7118.9151.1116.387.6120.5103.6114.896.4107.6

113.1119.3110.0121.5113.7103 097.1100.199.6

50.890.172.260.745.4

91.368.479.7

103.3100.392.6

108.1152.292.5

116.0220, 76974, 280108, 229

1,184,344155,914

1,04857.458.8

40.139.8

147277

4362458

4,7591,495378

4,008

66730,886

115.6'126.8

154130120310

133.3143112

93 391

117.1116

99.078

107.398.8122.066.3

111.4118.4144.8117.487.0120.0103.5116.696.2107.3

113.5118.7112.4123.0115.3104.896.7101.6102.3

50.390.272.560.541.7

90.568.380.4

101.0101.492.9

90.594.091.2

111.3199, 62855,455106, 420

1,153,431158, 610

1,03957.059.4

40.239.0

••232••341

92' 110••661

5,0931,816363

4,931

82639, 270

115.2' 128.1

157130120306

131.0145111

93.291

117.2117

100.479

107.199.1120.564.9

112.2119.3144.4119.090.7123.1107.2120.098.3107.0

116.4117.6114.1122.1119.0109.999.4103.9103.4

50.690.673.460.542.4

90.168.080.9

101.4101.193.9

90.792.991.4

114.6184,04247,69399, 503

1,173,152161,862

1,05157.659.9

41.040.0

'253'379

70125

' 1,131

5,1011,373344

4,047

80634, 611

115.9' 129. 0

161134121308

131.3146113

94.392

118.5119

102.080

107.6100.4119.364.0

116.7120.1146.7122.892.9126.5110.1123.0100.0109.4

121.1116.8117.4122.5120.9112.8101.31019107.1

50.291.174.360.244.2

90.368.281.8

104.4102.594.2

92.596.691.8

116.8193, 89892, 363101, 535

1,202,348167,081

1,07458.860.5

41.240.4

'338'486

116177

' 1, 553

5,1701,606376

3,738

76233,608

118.0'133.6

163135121324

132.5148114

95.593

119.8120

103.982

109.8103.3119.865.0

124.1126.1149.6127.494.9129.2112.0125.9102.6116.3

125.1124.5121.7120.3125.3114.1103.6108.3113.5

48.723.577.260.148.2

91.368.383.2

117.2104.995.2

97.8108.792.4

139.8235,87687, 038110,912

1,251,283172,876

1,10460.561.0

40.740.0

••393'575

'511564

' 7, 099

5,0971,825443

4,270

59026, 998

120.5' 136. 9

168136123330

135.0149119

96.894

121.2123

106.183

112.9105.9124.065.8

129.7129.6152.3131.996.1132.3113.8129.0104.4118.7

129.9128.1125.3123.8128.3113.5106.7109.9116.5

48.687.977.160.451.0

92.268.984.6

120.6108.396.3

96.1102.592.2

150.8285, 397127, 634118,945

1,306,333177,328

1,14863.062.3

41.340.8

'448'642

325420

' 2,182

5,1561,539500

3,914

65931, 574

' 123. 7' 140. 7

172140125337

' 137. 3151121

101.098

122.9125

111.786

116.1109.0127.065.8

129.4133.1154.9135.097.6135.3115.9131.8106.7121.7

132.9130.8128.5119.6131.3112.8109.1112.9117.1

49.288.178.961.551.9

93.569.186.3

122.7112.095.0

97.8105.193.8

163.0318,436142,185134,896

1,370,110184, 236

1,17964.763.3

41.741.3

'335'538

140'222

' 1,469

5,1261,623471

3,576

68430, 564

126.1' 142. 9

173145127326

' 137. 2149119

100.297

124.8126

113.087

120.1111.1135.165.7

134.7136.6156.6138.999.1137.6118.4134.6108. 7122.4

137.3135.8130.196.0

130.2114.3110.5115.6120.0

49.390.379.062.152.7

94.669.588.3

121.7115.894.5

96.7100.994.2

166.5331,438152, 691136, 651

1,391,689185,182

1,21166.564.8

41.040.3

'402'581

138'217

' 1, 302

4,9821,597499

3, 623

61129, 307

125.3145. 0179148127328

139.9152119

97.994

125.1128

113.387

117.1109.6129.064.4

142.5140.3159.1142.899.1136.4122.8136.6110.3124.7

141.7138.1132. 7 -116.0135.4121.5111.8117.1120.9

50.092.6

'79.9'62.253.9

'95.2'69.7'89.6

'118.9114.6'94.5

'96.9' 103. 0'95.8

167.7340,146158,744138,631

1,444.985186,931

1,23167.666.0

41.241.0

'422'624

'207'294

'1,750

4,6991,446510

3,045

57226, 494

' 123. 8' 144. 6'179'145127324

' 138. 6151

'125'98.0

94' 124. 3' 128

'111.687

'114.7' 107. 2' 126. 6'61.9

' 147. 5139.7160.1

' 144. 699.5138.4126.4138.3110.5126.4

143.7138.4134.1115.0136.9125.7114.3117.4121.3

50.094.278.861.654.4

94.669.990.2

121.0113.195.3

99.9112.295.4

164.7320,301149, 800128, 415

1,487,925191, 588

1, 23567.866.5

41 640.9

P 4 7 5P 765

v 270P 3 4 5

P 1,925

4,3561,396546

' 2, 643

'49322, 942

p Preliminary.§Data are a weekly average of the number receiving benefits, based on an average of the weeks of unemployment compensated during weeks ended within the monthtRevised series. For revisions in indicated nondurable manufacturing series, see note marked " t" on p. S-8. Telephone and telegraph indexes revised beginning 1932,

other indicated nonmanufacturing employment series beginning 1929; see p. 17 of the April 1940 Survey, except for indexes for street railways and busses beginning 1932,which were subsequently revised as shown in table 27, p. 17 of the May 1940 issue. For revisions in Illinois and Chicago indexes, see note marked with a " ! " on p 29 ofthe January 1941 Survey. Index for Wisconsin revised beginning 1925; revised data not shown on p. 72 of the February 1941 Survey will appear in an early issue Earliermonthly data on indexes beginning 1923 for Ohio factory and construction employment revised to 1935-39 base will be shown in a subsequent issue

JTotal includes State engineering, supervisory, and administrative employees not shown separately; see note on p. 27 of the May 1941 Survey'



1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary


tember


LABOR CONDITIONS—Continued

Labor turn-over in mfg. establishments:Accession rate..mo. rate per 100 employees-Separation rate, total do

Discharges doLay-offs doQuits and miscellaneous do

PAY ROLLS

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

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

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

mills 1923-25=100..Hardware do —Structural and ornamental metal work

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

Lumber and allied products doFurniture doLumber, sawmills do

Machinery, excl. transp. equip doAgricultural implements (including trac-

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

supplies 1923-25=100__Engines, turbines, water wheels, and

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

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

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

Stone, clay, and glass products doBrick, tile, and terra cotta do.Glass do.

Transportation equipment! doAircraft* . . .do .Automobiles do.Shipbuilding* do.

Nondurable goods! ._ doChemical, petroleum, and coal products

1923-25=100..Chemicals do.Paints and varnishes. do.Petroleum refining doRayon and allied products do.

Food and kindred products do.Baking do.Slaughtering and meat packing do

Leather and its manufactures doBoots and shoes do.

Paper and printing.. _ doPaper and pulp do.

Rubber products do.Rubber tires and inner tubes do

Textiles and their products!- _._do.Fabrics! do.Wearing apparel do.

Tobacco manufactures do.Manufacturing, unadj., by States and cities:

State:Delaware _ ..1923-25=100-Illinoisf 1935-39=100.Maryland ...1929-31=100-Massachusetts. _ _ .1925-27=100—New Jersey .1923-25 = 100..New York 1925-27 = 100..Ohio* 1935-39=100..Pennsylvania 1923-25=100Wisconsin! 1925-27 = 100..

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

Nonmfg., unadj. (TJ. 8. Dept. of Labor):Mining:

Anthracite 1929=100Bituminous coal do...Metalliferous do..Crude petroleum producing do__.Quarryinsr and nonmetallic do...

Public utilities: |Electric light and power! do IStreet railways and buses! do |Telephone and telegraph! do I

4.874.13

1.412.44

166. 7191.6

174.7

182.8161. 5

124.8171.692.1

121.977.4

256.7

232.2

244.7

611.5

197.2597.3260.5185.2262.0110.376.1

176.0279.7

2, 615. 4171.7794.4138.9

190.7257.6173.5163.2375.5161.9157.8151.1100.593.8

135.6164.4135.8108.2122.3120.2119.074.9

5.523.23.19

1.531.51

116.2123.4

'123.5

131.0118.8

79.6113.173.791.365.1

' 145.4

158.8

138.2

265.1

111.7352.3164. 3136. 3190.083.055.1

129.8' 163. 2

4, 639.4149.2

' 244.0108.1

139.3176.2135.8136.2322.6134.2139.2115.873.469.1

115.2123.899.586.693 289! 594.866.5

108.7128.0141.384.5

123.3100.5132. 596.2

119.4

142.9126.0122.298.898.0

103.8

32.383.671.457.646.7

4.653.06.18

1.601.28

116.4125.1

125.8

134.6122.3

78.7104.170.990.460.9

149.3

160.4

145.0

274.8

114.6355.4155.7141.7201.982.054.0

130.8166.1

5, 012. 9150.5237.8106.6

139.4181.7135.7133.3331.4128.8138.3118.968.562.5

115.4123.8102.089.792.390.989.566.4

105.3129.4145.183.9124.9101.5135. 196.8122.1

147.0128.5126.697.6

100.1105.494.9

37.684.569.856.842.3

107.070.7

102. 2 I 103. 2

106.970.3

4.113.16

.161.861.14

122.4131.6

132.9

142.1128.4

86.0113.171.592.660.4

163.0

171.3

157.9

304.8

126.6394.2163.6149.6218.985.756.8

137.6169. 2

5, 356. 3145.0287.7112.1

143.9187.9138.7139.0334.4132.4137.7137.378.573.2

120.8128.5111.196.497.695.695.667.4

116.9137.3150. 291.2

134.8108.2142.8102.2128.0

151.9136.9131.3101.3106.3113.1105.8

42.791.472.855.942.4

106. 073.1

103.5

5.543.41

.181.611.62

120.7132.0

130.8

139.9130.4

89.4114.868.184.259.2

167.5

180.9

162.7

331.6

128.7414.5144.9146.0220.279.654.6

131.0176.2

5, 919. 7147.7307.6108.1

142.1188.2137.4132.2335.9120.2134.5119.783.380.1

115.4127.5111.697.995.193.193.259.3

112.9134.8151.689.6

133.2108.2142.999.4

126.1

153.7135.1132.6103.3103.6109.7102. 5

38.587.870.456.236.9

105.170.7

103.9

4.923.15

.191.201.76

126.8139.2

137.0

145.4134.8

93.8115.770.690.060.5

176.8

174.2

175.7

347.0

136.1444.7146.4151.2224.582.054.8

135.3190.8

6,440. 6159.3338.1112.9

144.8193.9141.7132.1327.6119.6137.8113.591.588.9

117.1132.5115.399.7

103.998.5

108.161.7

125.1138.3155.197.0

139.1113.6152.7104.7129.5

157.9135.1139.5109.7110.5114.5113.6

45.290.871.857.338.2

105.471.0

104.3

5.623.40

.211.062.13

131.2144.6

141.2

149.0138.1

97.1121.872.893.962.7

186.2

162.0

185.9

378.6

143.6471.5157.2155.1236.785.256.1

140.5197.2

6, 678.3163.1365.0116.3

149.1201.7147.4133.4332.9122.4140.0114.296.194.2

120.3136.4119.5102.7107.0101.1112.262.7

128.1140.8161.2101.0145.6119.2159. 8108.5134.8

164.2135.1144.5115.2114.0118. 7115.9

42.493.872.756.140.3

106.172,5

106.4

6.043.89

.251.192.45

134.7149.9

150.9

164.1135.7

103.4127.375.795.266.4

197.4

229.6

192.3

372.4

152.2472.2163.9157.2234.891.162.4

143.5191.8

7,134.4147.3395.4117.7

158.32Q8.3157.9142.4342.3125.2140.9115.192.389.1

121.2139.1122.3106.3107.0104.1106.258.9

137.3151.6174.4104.0147.5122.6167. 0114.5142.5

178.4148. 7151.7115.9114.7131.6124.1

24.315.878.957.847.0

107.672.0

107.1

5.953.86

.241.082.54

144.1163.1

160.9

172.7141.5

113.8146.478.0

102.766.0

217.2

229.0

215.3

444.1

166.2507.2191.5166.7246.697.869.1

150.3217.1

7, 697.3170.6433.9122.9

164.9221.8170.4146.3356.2134.7148.4133.191.086.7

124.9145.6128.7111.1110.4109.3105.967.1

150.1161.6189.2110.2161.1129.0176.6121.7150.9

194.5158.2157.8118.0126.3138.4134.9

33.4107.281.558.853.2

109.672.7

110.5

6.313.71.26

1.032.42

152.2173.9

168.6

179.9150.2

120.1163.283.9

110.071.1

229.9

233.3

224.0

484.7

177.8529.3200.4174.6

' 262. 2100.271.8

153.5240.4

8, 212.1188.3505.9127.9

172.4232.6177.8156.7362.4144.4154.4137.897.291.9

128.6157.7141.1122.4111.4111.6104.170.2

156.0170.5196.2114.5169.0134.2186.3127.4159.5

200.6166.1163.9119.1134.0143.9138.8

51.2107.285.359.955.7

111.476.2

111.4

1

6.004.24.29

1.402.55

' 152. 7' 172. 4

' 166. 6

181.6124.1

'112.5171.3'85.5110.173.5

' 233. 0

228.4

232.0

' 506. 9

176.5534.7218.7

' 174. 3' 263. 8

98.973.4

147.1229.3

9, 077. 7158.0

' 582.0' 130. 8

' 176. 3239.7172.7157.2368.6

' 152. 8153.1

' 139.4103.298.8

128.6156.9135.6118.4113.6113.3

' 107. 169.8

159.9170.2202.5117.2173.7137.5188.3126.3154.6

207.4168.9159.3123.3136.8140.5141.3

34.8105. 479.361.455.5

113. 575.8

113 5

5.434.14.30

1.132.71

r 158. 3* 177. 9

' 172. 3

183.3153.6

' 124.9184.7' 93. 7116.]

r80.3

' 243. 4

227.5

240.0' 545.1

' 186. 0553.4234.0

' 183.1' 273.6r 104. 2

77.0155.4224.1

10, 462. 0137.3

r 614. 6' 136. 3

' 179. 9247.3

'171. 5159.1368.2

' 165. 4155. 2

r 142. 9' 104. 7

100.7130.9162.7

' 138. 8'116.4' 119.3

114.5' 121.7

70.0

169.5178.7207.9116.9172.1146.4190.4131.7163.8

51.1'117.3'85.4'61.5'59.3

5.164.53.31

1.163.06

' 163. 0' 184. 0

'171.3

' 178. 6' 156. 5

' 122.8' 187. 6'92.5

' 119.1'77.6

' 248.1

r 230.7

' 241.4

' 569. 6

r 187. 8r 577.8' 254. 4' 187. 5' 273. 2' 105. 5'76.2

'161.0' 253. 3

11,302.1' 158. 9' 700.1' 139. 5

' 186. 8' 250. 2' 169. 9' 166.4' 374. 3' 170.2' 157.4' 146.1' 101. 6'95.3

' 133. 3' 163.0' 134.2' 107. 3

123.4'118.0' 126.3'70.4

'173.7180.5

'215.8121.3176.4152.6189.2131.7164.6

212.8174.8169.7134.3139.1146.3146.0

'220.9177.8168.2142.4144.1144.2145.8

115.685.963.360.6

115.178.6

115.1

114.278.1

' 114. 2r Revised.tRevised series. For revisions in indexes for all manufacturing, durable goods, and nondurable goods, for 1938 and 1939, see tablel2, p. 18 of the March 1941 Survev

April 1940 Survey.•New series. Earlier data on Ohio pay rolls will be shown in a subsequent issue; for other indicated pay-roll series, see note marked with an "*" on p, S-8 of this issue.

December 1941 SUEVEY OF CUKRENT BUSINESS S-l l


1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary


tember


PAY ROLLS—Continued

Nonmfg., unadj. (U. S. Dept. of Labor)—Con.Services:

Dyeing and cleaning 1929=100..Laundries doYear-round hotels do

Trade:Retail, totalf do

General merchandising! doWholesale do

WAGES

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

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

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

mills dollars. _Hardware doStructural and ornamental metal work

dollars..Tin cans and other tinware do


Machinery, excl. transp. equip doAgricultural implements (including

tractors) J dollars..Electrical machinery, apparatus, and

supplies dollars. _Engines, turbines, water wheels, and

windmills t dollars..Foundry and machine-shop products

dollars. .Machine tools* doRadios and phonographs do

Metals, nonferrous, and products..doBrass, bronze, and copper prod_._do

Stone, clay, and glass products doBrick, tile, and terra cottaj do_Glass do

Transportation equipment doAircraft* doAutomobiles doShipbuilding*! do

Nondurable goods doChemical, petroleum, and coal products

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

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

Leather and its manufactures}: doBoots and shoes! do



Textiles and their products doFabrics doWearing apparel do

Tobacco manufactures doFactory average hourly earnings:

Natl. Ind. Con. Bd. (25 industries).dollarsU. S. Dept. of Labor (90 industries) do

Durable goods doIron and steel and their products, not

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

mills dollars. .Hardware doStructural and ornamental metal work

dollars. .Tin cans and other tinware}: do


Machinery, excl. transp. equip doAgricultural implements (including

tractors) % dollars - _Electrical machinery, apparatus, and

supplies}: 1 dollars. -Engines, turbines, water wheels, and

windmills! dollars - -Foundry and machine-shop products

dollars.-Machine tools* doRadios and phonographs do

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

dollars..

98.4103.292.0

97.5110.392.0

82.488.084.2

85.892.380.2

29.8427.1331.42

30.97

33.0427.74

30.0225.1621.4922.4920.2331.71

31.41

31.26

36.74

31.1837.7324.7430.0033.6425.7521.8727.9037.3932.6239.2536.5722.28

29.9632.3929.6034.9326. 5323.8226.3127.6418.8717.5329.3526. 4529.3134.2718.1017.9518.5318.25

.744

.673

.739

.778

.851

.684

.733

.632

.524

.547

.506

.749

.802

.752

.830

.740

.769

.618

.712

.777

77.887.283.6

87.197.580.7

29.7326.9331.11

31.01

33.4327.56

29.2623.4720.7522.2319.0631.65

31.29

31.61

36.35

30.9536.8523.9730.0234.1725.1721.4727.2636.3932 9338! 0534.4622.08

29.8732.7229.3534.3226.9524.4326.3126.8218.1916.6529.3526.3529.4534.9217.8017.7118.0518.14

.747

.678

.744

.781

.857

.683

.732

.635

.526

.555

.505

.752

.806

.757

.842

.745

.768

.613

.727

.802

75.889.284.1

97.3132.983.4

30.2827.8931.96

32.18

34.6528.03

30.8025.7221.0622.6419.2933.13

32.89

32.95

38.22

32.8539.5625.3231.6335.8026.2522.5228.7735 9633.1736.4938.3723.09

30.9033.3330.1536.0027.1525.7826.3928.7720.0518.5430.3727. 3031.1336. 5918.4618.2818.9818.70

.754

.683

.749

.780

.858

.681

.743

.638

.528

.552

.507

.761

.818

.766

.842

.755

.781

.626

.738

.808

73.389.884.1

83.786.580.5

30.6127.7131.90

31.46

33.6628.30

31.0125.3120.7221.4219.5933.35

33.25

33.00

39.36

32.5140.1524.0830.7135.2225.1721.7428.0237.6634.1337.6137.6922.64

30.3133.1029.8634.4627.4024.8926.4626.8420.6719.5829.7527.0230.8536. 6718.1317.9318.7017.76

.759

.689

.758

.786

.861

.695

.743

.639

.529

.552

.510

.768

.821

.773

.869

.757

.797

.632

.740

.806

74.489.786.1

84.686.681.4

31.4128.5632.90

32.21

34.5128.84

31.6724.9821.2422.3221.0234.26

33.13

33.87

38.73

33.5141.6224.8031.0035.2025.6122.0928.6238.4435.1440.0538.7123. 23

30.2433.5030.2234.3626.9425.2526.7326.7021.8920.9230.0427.6631.2037.0219.0818.6120.3517.54

.764

.692

.762

.791

.866

.689

.750

.638

.534

.560

.517

.772

.818

.776

.857

.762

.801

.640

.740

.811

77.290.985.7

86.288.382.0

31.8029.1133.49

32.65

34.9428.95

32.3525.5321.6823.0320.3235.02

33.54

34.46

40.43

34.3941.4925.7931.5736.4525.8922.3028.7638.8035.0240.6139.3023.63

30.3633.9330.4634.6827.2825.7426.6626.8122.6121.7730.6728.1931.6737.5519.3718.8920.6817.99

.769

.697

.768

.873

.690

.756

.639

.541

.565

.523

.778

.820

.780

.878

.769

.799

.643

.748

.822

97.895.887.1

91.798.683.4

31.8929.1733.54

34.40

37.8728.64

33.7126.1722.1623.2219.8935.20

37.52

34.41

38.30

34.7541.1025.3131.5035.7026.5023.3828.7036.4135.1536.3639.1623.62

30.9634.2431.5736.6427.5425.5626.5927.1421.8720.8430.5428.3131.6237.6819.4819.3319.9116.88

.784

.708

.785

.841

.954

.782

.642

.547

.570

.530

.872

.782

.780

.806

.644

.749

.816 I

96.198.787.9

91.596.0

33.1230.7835.57

35.71

38.9829.89

36.1327.2722.5724.3520.7437.17

36.88

36.68

43.39

36.5142.7927.0233.1237.1027. 6424. 5829.5339.9035.8441.5840.8924.48

32.4135.4833.0537.1428.1626.6827.5629.5522.0920.8931.1329.0732.8238.8820.1320.0920.2218.82

.726

.806

.967

.707

.825

.652

.556

.584

.537

.818

.829

.803

.822

.661

.770

.834

98.4102.587.4

95.2100.188.2

34.2631.8836.91

36.40

39.4631.26

36.9827.7023.5725.1221.8938.00

37.32

37.01

45.03

37.7843.2227.0934.3038.4228.0424.9729.9142.6935.6345.6843. 7825.11

33.6336.0033.8138.7428.3627.0828.2129.7922.9921.6632.0130.9734.7041.4120.3320.2820.4819.48

.818

.738

.822

.863

.964

.737

.836

.660

.570

.597

.552

.832

.886

.842

.967

96.4106.787.6

'94.097.588.0

33.70' 31. 22'35.84

' 35. 53

38.9029.26

* 34. 0427. 5923.2124.6821.60

' 37. 53

36. 62

37. 06

' 45. 14

36.6142.8028.30

' 33. 78' 38. 37' 27. 02

24. 5928.19

'40.5136.4840.79

' 45. 54' 25. 07

' 33. 7436.3832. 6338.2629.06

' 26. 3628.26

' 29.4323. 6822.5331.7030.4933.1839.54

' 20. 55' 20. 43' 20. 90

19.45

.822

.744

.826

'. 862

.965'.712

'.826.664.577.601.560.836

.890

.850

'.978

.819

.831

.664

.794

.818

.841

.693

.803

'92.1104.7'88.2

'94.0'99.3

34.10'31.63' 36. 52

' 36.12

38.8133.11

r 36. 8228.42

' 24. 6525. 43

' 23. 49' 38.19

36.31

37.44

' 46. 02

37.7243.5328.32

' 34. 88' 39.17' 27. 98

25. 3029.28

' 41. 2338.4641.14

' 46. 47' 25. 38

' 33. 7836. 65

' 32. 6538.5728.60

' 26. 3128. 06

' 30. 3123.9722.9032.0431.18

' 33. 78' 39.17'21.05

20. 63' 22.18

19.37

.828

.745

.830

.871

.968

.775

'. 835. 669.588.602

'.573.844

.907

.853

'.997

.826

.850

'887

99.4105.289.1

95.8107.090.6

35.1032.0136.79

35.65

37.8932.97

36.4528.9224.4726.0122.7338.38

37.12

37.28

46.77

37.7744.7729.2535.1038.5328.3025.2730.2741.7438.5842.2046. 6925.75

34.1436.5432.5640.1429.2926.5428.3230.7123.7122.3532.2631.0332.6336.1521.7321.3722.7220.07

.844

.758

.843

.878

.972

.782

.843

.683

.590

.612

.572

.850

.920

.857

1.003

.829

.870

.697

.821

' Revised.^Because of changes in the composition of the reporting sample (usually an enlargement of sample) data for the indicated series for a recent period are not strictly compar-

able with earlier data; for the month when the change occurred and the issue of the Survey in which the revised data were first published, see note marked "t" on p. 29of the July 1941 Survey and p. S-ll of the August 1941 issue.

*New series. Earlier monthly data not shown on p. 29 of the March 1941 Survey are available upon request.fRevised series. Indexes revised beginning 1929; see table 19, p. 17 of the April 1940 Survey.



1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary

Febru-ary March April May June July August


WAGES—ContinuedFactory average hourly earnings—Continued.

U. S. Department of Labor—Continued.Durable goods—Continued.

Stone, clay, and glass products—.dollars..Brick, tile, and terra cottaj doGlass do

Transportation equipment doAircraft* doAutomobiles doShipbuilding* i do

Nondurable goods.. doChemical, petroleum, and coal products

dollars..Chemicals* doPaints and varnishes doPetroleum refining doRayon and alliea products .do

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

Leather and its manufactures J doBoots and shoesj do



Textiles and their products doFabrics doWearing apparelj... do

Tobacco manufactures doFactory average weekly earnings, by States:

Delaware 1923-25=100Illinoist 1935-39=100.-Massachusetts 1925-27=100. .NewJersey..- 1923-25=100New York 1925-27=100.-Pennsylvania 1923-25=100Wisconsin! 1925-27=100..

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

Common labor dol. per hour._Skilled labor do — .

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

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

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

PUBLIC ASSISTANCETotal public assistance and earnings of persons

employed under Federal work programs!mil. of doL-

Assistance to recipients:?Special types of public assistance do

Old-age assistance* doGeneral relief doSubsistence payments certified by the Farm

Security Administration mil. of dol .Earnings of persons employed under Federal

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

Student work program doOut-of-school work program do

Work Projects Administration doOther Federal agency projects financed

from emergency fundst mil. of dol_.Earnings on regular Federal construction

projects* mil. of dol

132. 3126. 1

119. 4

136.7

.7611.52

.49

.65

.37

.59

.63

.54

.80

.36

.52

.41

0.671.566.747.898.750.951.871.609

.757

.798

.720

.963

.685

.610

.635

.684

.553

.528

.792

.654

.774

.962

.509

.487

.552

.484

95.4113.5103.8127.5100.8115.8114.6

.7111.48

36.84.725

.48

.63

.35

.54

.54

.51

.70

.34

.49

.38

216

544129

18

25

102

4

56

0.671.572.746.902.755.957.884.613

.765

.811

.733

.966

.690

.632

.640

.686

.555

.529

.793

.656

.781

.971

.504

.487

.539

.486

97.1112.4102.7127.6100.4115.5116.0

.7111.48

.741

.48

.63

.34

.56

.54

.56

.72

.35

.49

.37

209

554129

0.680.582.764.900.756.954.895.617

.766

.816

.741.968.694.641.644.680.552. 526.799.660.784.971.507.488.544.490

104.0116.8108.8134.9104.4120. 9119.0

.7111.48

.746

.44

.63

.33

.58

.53

.58

.71

.34

.48

.38

218

564230

16

36

102

0.682.587.772.911.776

.620

.770

.822

.741,970.699.649.644.681.555.530.802.662.788.975.512.492.557.498

98.1115.6107. 6133.8104.5117.5117.6

.7111.47

36.61.741

.43

.68

.35

.59

.51

.55

.70

.34

.47

222

574331

17

38

104

2

103

0.685.589.774.918.784.975.900.621

.770

.826

.746

.970

.702

.651

.644

.685

.564

.540

.803

.661

.792

.981

.514

.492

.561

.495

107.9117.5111.7136.1106.0121.4121.1

.7131.47

.758

.43

.67

.33

.59

.53

.59

.72

.34

.48

.38

215

584329

3994

2

114

0.689.594.778.920.783.982.890.624

.829

.749

.967

.700

.655

.641

.685

.572

.549

.807

.664

.799

.994

.517

.494

.561

.497

106.2119.2113.5138.5108.2124.3123. 3

.7161.47

.742

.43

.65

.34

.58

.52

.58

.70

.34

.47

216

584329

16

3997

1

111

0.695.606.770.923.788.983.907.629

.773

.839

.755

.995

.706

.655

.647

.694

.579

.555

.805

.666

.804

.995

.524

.509

.553

.506

107.2121.0114.4137.5109.4127.7122.6

.7251.48

40.44.732

.45

.64

.34

.61

.54

.57

.72

.36

.45

.40

209

594426

15

3894

1

116

0.710.639.769.945.7941.014.929.641

.863

.7701.008.712.670.659.731. 590.567.811.676.8161.008.530.520.550.509

112.1125.1119.8146.6113. 3132.7127.2

.7411.49

.730

.48

.62

.34

.56

.57

.53

.73

.36

.49

.40

199

594423

1

106

0.717.642.780.976.7971.063.954.650

.824

.864

.7801.020.722.672.665.738.599.573.826.716.8361.037.534.522.559.517

116.2128.9122.6150.4115.8135.8131.1

.7471.49

.733

.49

.64

.36

.56

.60

.52

.73

.35

.51

.39

188

13

38

81

1

110

0.721.645.782.988.8201.0661.013.657

.838

.886

.7811.030.729.661.674.737.609.584.825.727. 8451.048.550.534.582.523

114. 5125. 4123.7152.1116.1132.1126.3

0. 721'.648.782.990.8551.0571.039.658

.837

.887'.7841. 025.728.658.672. 766.615. 590.824.725.8611.062. 554.533.596.520

114.7127.7123.3152.1119.2136.3131.4

.7531.50

44.95.727

.50

.66

.35

.55

.60

.55

.73

.36

.51

.39

167

(•) ^

67

1

119

.7531.50

161

604620

1

130

FINANCE

BANKINGAcceptances and com'l paper outstanding:

Bankers' acceptances, total mil. of dol..Held by accepting banks, total do

Own bills ...doBills bought do

Held by others*. ._ doCommercial paper outstanding do

185138904747378

187149965338

252

197159996038232

2091671006742218

2131681036545232

212164996548241

2171701076347263

2201701056649275

2151641056051295

2131611015952299

2101611065549330

1971481004750354

177131854646371

f Revised. • Less than $500,000. 'None held by Federal Reserve banks. » Preliminary.^Construction wage rates as of November 1, 1941: common labor, $0,768; skilled labor, $1.52.§Figures for special types of public assistance and general relief exclude the cost of hospitalization and burial. The cost of medical care is also excluded beginning Septem-

ber 1940; this item is includedln all earlier data on general relief and in figures for July 1937-August 1940 on special types of assistance.tRevised series. Indexes for Illinois revised to a 1935-39 base; for factors for converting indexes on a 1925-27 base beginning 1935, see p. 29 of the January 1941 Survey.

Revised indexes for Wisconsin beginning 1925 will be shown in an early issue. Total public assistance and "other Federal agency projects financed from emergency funds"revised to exclude earnings on regular Federal construction projects and also on projects financed from Reconstruction Finance Corporation funds; revised data beginningJanuary 1933 will appear in a subsequent issue.

•New series. Earlier data for aircraft and shipbuilding not shown on p. 29 of the March 1941 Survey are available upon request. For data beginning 1933 for old-ageassistance, see table 56, p. 17 of the December 1940 Survey. Data on earnings on regular Federal construction projects beginning January 1933 will appear in a later issue.

tBecause of changes in the composition of the reporting sample (usually an enlargement of sample) data for the indicated series for a recent period are not strictly com-parable with earlier data; for the month when the change in the sample occurred and the issue of the Survey in which the revised data were first published, see note markedwith " J" on p. 29 of the July 1941 Survey and p. S-12 of the August 1941 issue.



1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary


tember

FINANCE—Continued

B A NKING—ContinuedAgricultural loans outstanding of agencies su-

pervised by the Farm Credit Adm.:Total, excl. joint-stock land bks.t-mil of dol._

Farm mortgage loans, total doFederal land banks doLand Bank Commissioner do

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

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

Short term credit, totalt - doFederal intermediate credit banks, loans

to and discounts for:Eegional agricultural credit corps.,

prod, credit ass'ns, and banks forcooperativescT mil. of doL_

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

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

New York City d o —Outside New York City do

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

lies, bank credit outstanding, total doBills bought doBills discounted doUnited States securities do

Reserves, total doGold certificates do

Liabilities, total doDeposits, total do

Member bank reserve balances doExcess reserves (estimated) do

Federal Reserve notes in circulation.. doReserve ratio percent..

Federal Reserve reporting member banks, con-dition, Wednesday nearest end of month:

Deposits:Demand, adjusted .mil. of dol_.Demand, except interbank:

Individuals, partnerships, and corpora-tions mil. of dol._

States and political subdivisions. _. doUnited States Government do

Time, except interbank, total doIndividuals, partnerships, and corpora-

tions mil. of doL-States and political subdivisions do

Interbank, domestic doInvestments, total do

U. S. Govt. direct obligations, total-doBills doBonds doNotes -.do

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

Other securities doLoans, total do

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

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

Installment loans to consumers:*By credit unions:

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

By industrial banking companies:Loans made doRepayments doAmount outstanding, end of month__do

By personal finance companies:Loans made doRepayments doAmount outstanding, end of month..do

Money and interest rates:§Bank rates to customers:

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

Discount rate (N. Y. F. R. Bank) doFederal land bank loans doFederal intermediate credit bank loans-doOpen market rates, N. Y. C :

Prevailing rate:Acceptances, prime, bankers, 90 days

percent..Com'l paper, prime, 4-6 months doTime loans, 90 days (N. Y. S. E.)..do

2,9242, 3951,786

610119

10116

410

21939

1947

1214936

46, 46319,14827, 315

24,2112,309

06

2,18420,84120, 57224, 21115,46612, 5804,5577,43291.0

24, 258

23, 6621,889

6535,459

5,285153

9,35718, 37911,318

7978,2772,244

3,3303,731

11,2036,554

419531

4311,265

371,966

25.228.0

217.7

43.144.6

303.6

76.379.3

527.0

1.004.001.50

MeH

VA

3,0082,5171,862

65596

7917

394

19135

1806

1225151

36,31714,95221,365

22,8652,412

04

2,33319,63219,28922,86516,21814,2086,9605, 57790.1

21, 858

21, 2661,651

5065,371

5,171175

8,70715,6939,374

7366,8041,834

2,6273,6928,9094,773

304410

4551,222

361,709

26.524.8

185.0

44.443.8

283.1

74.374.1

484.5

1.004.001.50

Me

2,9862,5081,856

652

7717

383

18834

1736

1195151

35,77114,95220,819

23,0172,304

04

2,19919,88119,58623,01716,19114, 2156,8495,74390.6

22,189

21, 7711,495509

5,397

5,180192

8,84315, 7749,543784

6,8981,861

2,7073,5249,1284,911299467

4601,228

391,724

25.124.3185.8

43.743.1283.7

77.474.8487.1

1.004.001.50

VA

2,9732,5001,85164893

7516381

187341726

1185048

42,95218,62624,327

23,2622,274

03

2,18420,03619,76023,26216,12714,0266,6155,931

22,299

22, 3241,595451

5,455

5,234196

9,06516,1379,719611

6,9782,130

2,7433,6759,3905,018301584

4651,230

371,755

29.025.6189.2

48.644.6287.7

107.689.3505.4

2.002.533.361.004.001.50

ttttVA

2,9642,4891,84464592

7516382

186351746

1175047

37,64515,14722,498

23,3062,250

02

2,18420,28519,91323,30616,39613,9306,3805,88491.0

22,932

22,4011,579214

5,448

5,240185

9,07616,3689,950685

7,0512,214

2,7443,6749,3085,076314458

4591,229

351,737

25.226.4188.0

44.744.1288.3

68.270.1503.5

1.004.001.50

Me

VA

2,9702,4851,84264391

7416393

192361826

1195046

32,72513,26819,457

23,5282, 265

03

2,18420,36620, 03123,52816,35114,2036,5346,02291.0

23,431

22, 8121,820332

5,478

5,273179

9,25316,95510,334

7277,0522,555

2,7663,8559,4955,227319478

4551,232

361,748

26.424.4190.0

42.442.4288.3

67.069.0501.5

1.004.001.50

Me

2,9762,4751,836640

7016413

203371956

1255045

40,98817,40223,586

23,4092,243

03

2,18420,43620,11223,40916,27213,3715,7766,14391.2

23,093

22,5181,747396

5,465

5,269171

9,34317,12410,578

7427,6532,183

2,7533,7939,8285,465347504

4541,228

521,778

31.8?6.4195.4

50.747.5291.5

84.980.3506.1

2.062.533.251.004.001.50

Me

2,9822,4671,83063785

16431

212392076

1295044

38,73115,65723,074

23,6862,234

02

2,18420, 53320,20423,68616,22013,5245,7716,28291.3

23, 712

23,1731,903386

5,476

5,269181

9,04317,68010, 812

8697,7532,190

3,1153, 7539,8705,532354465

4451,235

401,799

34.326.5203. 2

51.646.6296.5

88.981.0514.0

1.004.001.50

Me

VA

2,9882,4581,82463490

7416

440

217402156

1305044

39,91916,12423,795

23,8592,280

04

2,18420,61520,32523,85916,13213, 7245,8016,50391.1

24,311

23,6121,870390

5,449

5,240183

9,22017,68910,974

9297,8332,212

3,0223,69310,2265,673367571

4511,239

421,883

35.328.3210.2

52.547.5301.5

85.380.0519.3

1.004.001.50

Me

VA

2,9882,4481,81863090

7416450

225422217

1305043

42,13517, 28224,853

23, 7042,267

02

2,18420, 58320, 32223,70415,86313,0515,2106,72491.1

23,949

23, 6671,604463

5,443

5,243174

9,27217,87211, 2551,0807,9292,246

3,0383,579

10,4535,897

371529

4531,244

401,919

32.726.8

216.1

51.847.0

306.3

87.079.3

527.0

1.952.583.231.004.001.50

1M

2,9862,4371,811

626

16453

22744

2247

129£041

40, 94816, 28824,660

23, 8282, 293

05

2,18420, 60320,31723,82815, 78113,151

5, 215T

6, 85791.0

24, 544

24, (1291, 750

4705,444

5,260158

9,07818,19911, 2791,0747,9522,253

3,3093,611

10, 5726,047

388478

4391,253

431,924

30.827.1

219.8

49.546.7

. 309.1

85.080.9

531.1

1.004.001.50

2,9752, 4261,804

62299

16450

22945

2217

1284939

•39,11215,079

' 24, 033

23,8332,275

011

2,18420,57120,31423, 83315,52112, 7944,7967,08091.0

24, 349

23,7191,876

5915,445

5,268156

9,35518,33511,2511,0197,9492,283

3,3163,768

10,9036,222

397607

4361,256

451,940

29.627.0

222.4

46.146.1

309.1

86.281.3

536.0

1.004.001.50

Me

VA

2,9542,4111,795

616111

9416

431

22543

2087

1254938

39, 96415, 65424,310

24, 0262,264

011

2,18420,71220,46124,02615,48913, 2285,1697,23491.2

24, 277

23,8941,906

5805, 448

5,267ieo

9,66918,101

• 10,982785

7,9172,280

3,3193,800

11,0246,447

397494

4281,257

391,962

24.025.9

220.5

38.434.4

305.5

68.574.5

530.0

1.982.623.291.004.001.50

MeH

VAr Revised.e?To avoid duplication these loans are excluded from the totals.§For bond yields see p. S-18.•New series. For data beginning 1929 for industrial banking companies, see p. 18 of the September 1940 Survey; for data beginning 1929 for personal finance companies see

table 25, p. 26 of the September 1941 Survey; data beginning 1929 for credit unions are shown in table 27, p. 26 of the October 1941 issue.fRevised series. For revisions in data on emergency crop loans published in the Survey prior to the September 1940 issue, see note marked "t" on p 76 of the February

1941 Survey.


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

1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary


tember

FINANCE—Cont inued

BANKING-ContinuedMoney and interest rates—Continued.

Open market rates, N. Y. C—Continued.Average rate:

Call loans, renewal (N. Y. S. E.)percent--

TJ. S. Treasury bills, 91 days§ doAv. yield, IT. S. Treas. notes, 3-5 yrs.d*_-do

Savings deposits:Savings banks in New York State:

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

Balance to credit of depositors doBalance on deposit in banks do

COMMERCIAL FAILURES!

Grand total number,.Commercial service, total doConstruction .total doManufacturing and mining, total do

Mining (coal, oil, miscellaneous) doChemicals and allied products doFood and kindred products doIron and steel products doLeather and leather products doLumber and products doMachinery doPaper, printing, and publishing doStone, clay, and glass products doTextile-mill products and apparel doTransportation equipment- doMiscellaneous do

Retail trade, total doWholesale trade, total do

Liabilities, grand total thous. of doL.Commercial service, total doConstruction, total doManufacturing and mining, total do

Mining (coal, oil, miscellaneous) doChemicals and allied products doFood and kindred products doIron and steel and products doLeather and leather products doLumber and products doM achinpry doPaper, printing and publishing doStone, clay, and glass products doTextile-mill products and apparel do-..-.Transportation equipment doMiscellaneous _ do

Retail trade, total do.._.Wholesale trade, total do.-_

LIFE INSURANCE

Association of Life Insurance Presidents:Assets, admitted, totalt mil. of dol.

Mortgage loans, total do.__Farm do...Other do.._

Real-estate holdings do...Policy loans and premium notes do_..Bonds and stocks held (book value), total

mil. of doL.Gov't. (domestic and foreign), totaLdo

U. S. Government do.Public utility do.Railroad do.Other do.

Cash do,Other admitted assets do.

Insurance written:®Policies and certificates, total number

thousands..Group do.Ind ustrial. _ _ do .Ordinary do._

Value, total thous. of doL.Group do.Industrial do.Ordinary do.

Premium collections, total® do.Annuities do.Group do.Industrial do.Ordinary do.

Life Insurance Sales Research Bureau:Insurance written, ordinary, total do

New England.,. _ d o .Middle Atlantic do.East North Central do.West North Central do.South Atlantic do.East South Central do.West South Central do.Mountain do.Pacific do.

Lapse rates 1925-26=100..

1.00.09.41

5,554

1,31729

8092957

13838

39| 4

518

232

12516

697,333

358577

2,87914673

1.02712811733322914228238269149

2,790729

82042

499279

730,32774,794148,388507,145

658,33951,195181,013152,17959, 52666,13024,84545, 50716, 50761,437

1

5,

1,

1,

12.

5,

1,

1,

4,1,

24,4,

.00

.02

.43

635

29638

1114471

20068

4076

211420

354

219

681115715574854247361432074

92100227142890

69443

37380194846

963670666

4,0041, 7072,425

14,6,4,3,

769819983622

2,7311,

54855

146

597933459

79835

506256903244465

447,194246, 40321 94112, 36851

160

57344

1581305656214114

766328

504112087687173987624778747

49, 309

1

5,

1,

1,

16,

9,3,

1,

1,

41,

254,

41,2,

H6,5321

56034

134391251

281156

154

50538

.00

.02

.34

639

29937

0244053

1966

1529147

221119

144

424

64689

572596838090067444512369

75358175250

25838399578699349

076694664030701413

851866010619745621955462

72128

468226912256859797508454844278932

474381

139.103115,94047 32850, 65419,44037, 90812, 92443, 796

1.00.02.35

1,30436

1,0864857

1886

1330

61020

6113

591

23691102

13, 309665

1,0435,928

117441

2,347708158254

72259422873

15262

4,0971,576

25,1704,697663

4,0341,6612,398

15,03*6,8895,0363,7842,6891,672862518

67494238

694, 740108. 003142, 371444, 366357,17351.18514, 95691, 469199, 563

596, 53440, 072159, 584137,45958, 52761, 07225, 23046, 64416, 37051, 576

93

1.00.02.43

5,664

1,31434

1,1244354

16177

2766

155

164

441

23771

9511,888

359599

4,21719788

894555214293

29524163820

7433

5,0841,629

25, 2994,710

6584,0521,6532,383

15, 0326,8835,0453,7752,7021,6721,006

515

68930

439219

573,12435, 744

126, 458410,922285, 226

39, 68115, 33660, 863

169, 346

522, 76243, 440

151, 318121,164

46, 96349, 47319, 20735, 97312, 34842,876

1.00.04.55

5,652

1,31833

1,1296658

18277

2557

2415132

425

30719104

13,483552836

5,983294172

1,05235412776550318524

600619

1,2884,5011,611

25, 4004,727

6654.0621,6432,371

14, 9716,7444,9103,7942,7171,7161,166

522

72732

464231

589, 37044, 251

136,166408, 953264,175

23, 64015,93256, 279

168, 324

537, 55746, 549

148, 981126,136

49, 50950, 21720,20139, 82912, 48143f 654

1.00.11.50

5,661

1,32031

1,2115860

188121039

55

226

184

351

31800105

13,444855765

3,647394

781,051

21556

28285

52325

359119460

6,1282,049

25, 5514,744

6634,08!1,6322,358

15,1166,7784.9433.8792.7191,7401,144

557

81643

514259

646, 92542, 721

148,978455, 226280, 753

26,49413, 56162, 514

178,184

598,21746, 533

160,635138,61254,63459, 03025,15647,98614, 51751,114

1.00.10.52

5,627

1,31730

1,1493570

19188

4474

1813146

363

30745108

13, 827573

1,1204,421

202103

1,49325720

451271240250434

55645

3,9703,743

25, 6554, 759

6664,0931,6182,347

15,1856,7924,9613,9312,7171, 7451,192

554

78424

502259

661, 62751,096

147,462463, 069261, 495

21,41412, 96561,977

165,139

597. 20347, 503

161,810136,931

56,02060, 59924, 58343, 59115,85450, 312

1.00.11.44

5,604

1,31030

1,1194063

18164

363

1022

5146

523

20735100

10,065647913

2,777104

19807

9311021511916895

712175160

4,765963

25, 7524,778

6694,1091,6072,335

15, 2436,7884,9623, 9652,7201,7701,201

588

81237

516259

660,07549,812

151, 391458,872265,108

25, 88914,14256,964

168, 613

604,16249,078

161.514140,48057,07661,16024, 52441, 65015, 69252, 988

1.00.12.38

5,628

1,30430

9703651

16648

2556

227

194

483

15619

989,449

401684

3,15515782

45188

188201113251

161,030

328250

3,5911,618

25,8884,796

6734,1231,6052,325

15, 4186,9145, 0823,9722,7111,8211,202

542

73833

459246

649, 61764, 450

135, 633449, 534272,173

29, 85912, 51961,120

168, 675

594,16447, 099

154, 975134,008

55, 06963, 41326, 79245, 38515, 35552, 068

87

1.00.12.37

5,575

1,307' 2 9

9084059

16594

3665

186

191

342

25570

7413,422

5001,0726,698

42955

73112672

59734658427256236

2,8883, 5791,573

26,0024,820

6744,1461,5932,312

15, 5826,9875,1574,0432,7371,8151,171

524

73150

438243

661,42284, 206

128, 783448, 433271, 482

33, 69313,78252,341

171,665

582, 29247, 531

153, 032132, 76656,18257, 94623, 34743,17315,11053, 205

1

5,

1,

11,

1,3,

1,

3,1,

264,

4,1,2,

15

54

.00

.13

.33

555

30929

9544676

16635

468

12107

183

312

21585

81134672732799

5661

50328031416595

71255

35745

156492439

106851721130585302

718047191068

2,74811

64673

131442245

201356

154

58144

147131

556124441554

855120530

73144

450237769412329028173732149423869

171850610895746535233993624685

1.00.10.34

5,555

1,31129

7354639

12357

4273

11743

172

15460

679,393

447594

4,18999

1852, 262

6637

342477103

17167

4273,239

924

73862

431245

699,549130, 229128,493440, 827251,887

21,47813,82860,842

155,739

581,99845, 204

148,781131,367

55,45761,11526,55643, 61915,33754,562

}37 companies through 1940 and 36 companies in 1941 havmg 82 percent of total assets of all United States legal reserve companies.<g>40 companies through 1940 and 39 companies in 1941 having 82 percent of total life insurance outstanding in all United States legal reserve companies.§Tax-exempt bills prior to March 1941; taxable bills thereafter. ef Tax-exempt notes.fRe vised series. For data beginning January 1940 and an explanation of the revision, see p. 32 of the March 1941 Survey. For previous revision of 1939 data, see p. 31 of

he March 1940 Survey.



1941

October

1940

October berDecem-

1941

Janu-ary

Febru-ary March

FINANCE—Continued

April May June July August Sep-tember

MONETARY STATISTICSForeign exchange rates :0

Argentina.__ dol. per paper peso..Brazil, official dol. per milreis..British India. _ _ _.dol. per rupee..Canada. dol. per Canadian doL.Chile dol. perpeso_.Colombia doGermany dol. per reichsmark..Italy dol. per lira..Japan dol. per yen..Mexico dol. per peso..Sweden dol. perkrona_.United Kingdom dol. per £..

Gold:Monetary stock, U. S _ mil. of doL.Movement, foreign:

Net release from earmark®. _thous. of dol..Exports doImports do

Production, estimated world total, outsideU. S. S. R thous. of dol..

Reported monthly, total! doAfrica doCanada doUnited States do

Receipts at mint, domestic (unrefined)fine ounces..

Currency in circulation, total mil. of doL.Silver:

Exports thous. of doL.Imports doPrice at New York dol. per fineoz..Production, world thous. of fine oz_.

Canada§_ doMexico . doUnited States do.. . .

Stocks, refinery, end of month:United States .do

CORPORATION PROFITS(Quarterly)

Federal Reserve Bank of New York:Industrial corporations, total (167 cos.)t

mil. of dol..Autos, parts, and accessories (28 cos.).doChemicals (13 cos.) doFood and beverages (19 cos.) doMachinery and machine manufacturing

(17 cos.) mil. of doL.Metals and mining (12 cos.) doPetroleum (13 cos.) do _ .Steel (11 cos.) do. . . .Miscellaneous (54 cos.) t do

Public utilities, except steam railways andtelephone companies (net income) (52 cos.)

mil. of dol..Federal Communications Commission:

Telephones (net op. income) (91 cos.)._doInterstate Commerce Commission:

Railways, class I (net income) doStandard and Poor's Corporation (earnings):A

Combined index, unadjusted* 1926=100..Industrials (119 cos.) do_...Railroads (class 1) • doUtilities (13 cos.) do.. . .

PUBLIC FINANCE (FEDERAL)Debt, gross, end of month mil. of dol..

Public issues:Interest bearing doNoninterest bearing do

Special issues to government agencies andtrust funds mil. of dol_.

Obligations fully guaranteed by U. S. Gov't.:Total amount outstanding©*f mil. of dol__

By agencies:<•?Federal Farm Mortgage Corp doHome Owners' Loan Corporationf_doReconstruction Finance Corp do

Expenditures, totalf thous. of doL.National defense* doAgricultural adjustment program* doUnemployment relief* doTransfers to trust accountf doInterest on debt* doDebt retirements doAllother* do

0.298.061.302.888

(2).570()

( ).206(2)4.033

22,800

-32,2303

40,444

338.23310, 364

704,221

.348

0.298.061.302.863.052.570.400.050.234.203.238

4.033

21, 506

-117,94717

325, 981

113,33097,80347,54816,38622,004

447,5268,300

874,857.348

22,9001, 6737,0905,609

1,522

0.298.061.302.869.052.570.400.050.234.204.2384.036

21,801

-39,4956

330,113

108,08092,52246,71115,77519,952

397,3368,522

684,721.348

23,1451,7087,1046,367

2,107

0.298.061.302.866.052.571.400.050.234.204.2384.035

21,995

7,4173

137,178

107,80091,85246,28915,78019,694

338,0068,732

1234,690.348

20, 6451,6424,5686,499

1,730

288.787.231.125.9

12.08.69.265.249.5

0.298.061.301.848.052.571.400.050.234.205.2384.034

22,116

-52,8124

234, 246

106,01590,37347, 27915,19916,646

296,624

3194,576.348

24,3291,5578,7505,733

1,792

0.298.061.301.837.052.570.400.050.234.205.2384.030

22,232

-46,1536

108,615

100,45084,09044,41114,44615,408

233,0658,781

8173,292.348

23,2081,3577,7926,009

1,340

0.298.061.301.850.052.570.400.050.234.205.2384.032

22,367

2133

118,569

106,36589,52647,08915,62916,023

275,0918,924

1,0484,489.348

«• 22,7741,8026,3396,445

2,382

280.88.534.518.9

10.9

0.298.061.301.877.052.570.400.050.234.205.2384.025

22,506

-10,4942

171,994

105, 52588, 48646,29215,38416,413

292, 2519,071

1,2124,346.348

r 22,3941,4847,1525,843

1,619

0.298.061.301.8741.052.570.400.051.234.205.2384.031

22,575

-3,8465

34,835

105,14088,11447, 68615,72116,022

254,1379,357

6153,347.348

r 20, 3591,9023,7696,465

2,181

0.298.061.301.882(2).5703.4003.053.234.2053.2384.032

22, 624

-3,9807

30,719

•105,875p 88, 950v 46,16815,89016,468

255,2629,612

2104,099.348

23,3312,0588,0625,047

2,324

270.381.535.121.5

12.55.5

15.949.748.6

0.298.061.301.883(2).570

( )'.234.205(2)

4.032

22,675

- 2 7 , 7 2 813

37, 055

P110, 215P 9 2 , 8 1 9v 48,05315,98318, 537

358,6039,732

3534,686

.348

1,8526,7266,310

2, 235

0.298.061.301.890

(2).570()

( ).205(2)

4.032

22, 719

-31,2026

36,979

v 91,673P 47. 429r 16, 353

17, 487

322, 5069,995

2073, 561

.348

1,660

6,277

2,803

0.298

!301.891

.570

.205

4.033

22, 761

- 4 6 , 7865

65, 707

p 94, 215p 47,106v 15,57820, 881

385,35010,163

f3483,356.348

5,620

1,231

6.413.366.142.2

54.4 61.3 53.6

62.9

124.5

70.9

69.!

111.6114.171.2140.0

P 108. 2113.040.9

v 150.5

73.6

103.2

' 1 1 0 . 7111.8*56.4» 138. 3

v 109. 5

53, 584

46,377544

6,664

6,930

1,2692,4092,101

2,089,3361,527,00157,865109,41445,01074, 6046,710

268, 731

44,140

38, 462

577

5,102

5,7901,2692,6021,097

870, 241297, 356

95, 920144,990

6,88273, 2411,244

250,607

44,277

38, 502566

5,209

5,901

1,2692,6001,097

817, 888378, 564102,339137, 86526,04310, 597

792161, 687

45,039

39,102

568

5,370

5,901

1,2692, 6001.097

1,187,277470,072104,596155, 299

4,985218, 934

15, 223218,167

45,890

39,908557

5,426

5,901

1,2692,6001,097

1,117,844568, 69394,912

145, 63025, 77525,109

7,214250, 512

46,117

40,028554

5,534

5,901

1,2692,6001,097

1,077,438584,04087,106

137, 74028, 62520,507

2,122217,299

47,176

40,901593

5,683

' 5, 905

1,2692,6001,097

1,400,675748,345

89, 814159,068

22, 550150, 211

1,539229,148

47, 236

40,972557

5,707

6,550

1,2692,6001,741

1,316,452763,061

60, 866147,843

28, 07573, 3351,171

242,100

47, 737

41, 342561

5,834

6,359

1,2692,4091,741

1,142,207836, 881

27, 295145,432

11, 58011,5031,335

108,181

48, 979

42,285

574

6,120

6,360

1,2692,4091,741

1,545,602811,995

22, 025134, 776

9,565339,431

17,128210, 681

• 49, 540

• 42, 669

548

6,324

6,930

1,2692,4092,101

1,600,253959,88044, 232

132,075168,55424,8282,654

268,029

50, 921

43, 901550

6,470

1,2692,4092,101

1,563,7121,124,095

26, 764105, 707

14, 3118,556

34,223250, 054

51,346

44,133556

6,658

6,929

1,2692,4092,101

1,882.0111,319,955

32,456108,493

6,200169, 359

7,951237, 599

p P re l iminary . r Revised. i Average for M a y 1-20. 2 N o quota t ion . 3 Average for June 1-14. * Average for Ju ly 1-25.GNo quotation for Belgium, France, and the Netherlands since June 1940. cfThe total includes guaranteed debentures of certain agencies not shown separately.<8>Or increase in earmarked gold (—). • Number of companies varies slightly. AFormerly Standard Statistics Co., Inc.*New series. Earlier data on new items under Federal expenditures are shown in table 31, p. 23 of the November 1941 Survey.tRevised series. Beginning July 1940 social security employment taxes are appropriated directly to the old-age and survivors insurance trust funds and do not appear

as transfers under expenditures, as formerly; earlier data on total expenditures and transfers to trust accounts have, therefore, been revised to exclude transfers to this fund(net receipts on p. S-16 similarly exclude amounts transferred to this fund); for revised data beginning January 1937, see table 31, p. 23 of the November 1941 Survey. Datafor total obligations guaranteed by the United States and for the Home Owners' Loan Corporation have been revised beginning September 1939 to exclude matured debt,funds for payment of which have been deposited with the Treasury; earlier data shown in the Survey similarly excludes matured debt.

JThe reduction of one company from the number shown in the 1940 Supplement was due to a merger during the second quarter of 1940.§Data reported by the Canadian Government; see note marked "§" on p. 33 of the June 1941 Survey.^Beginning with April 1940, where direct reports from foreign countries are lacking, available reports of the American Bureau of Metal Statistics are used. When no cur-

rent reports are available at the time of compilation, the last reported figure is carried forward. The comparability of the data has been affected by these substitutions. Datafor Belgian Congo and Sierra Leone, formerly included in figures for Africa and total reported monthly, are excluded beginning May 1940 and April 1941, respectively, as reportsare not available. During recent years, the reported figures for Belgian Congo amounted to between Vfa and 2 percent of the total reported for Africa; production for SierraLeone is of minor importance.



1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary


tember

FINANCE—Continued

PUBLIC FINANCE (FEDERAL)-Con.Receipts, total thous. of dol,_

Receipts, net* doCustoms doInternal revenue, total do

Income taxesf doSocial security taxes do

Taxes from:Admissions to theaters, etc.® doCapital stock transfers, etc.<8> - d o

Government corporations and credit agencies:Assets, except interagency, total .mil. of doL,

Loans and preferred stock, total doLoans to financial institutions (incl. pre-

ferred stock) mil. of dol,-Loans to railroads doHome and housing mortgage loans, doFarm mortgage and other agricultural

loans mil. of dol,.All other do

U. S. obligations, direct and fully guaran-teed ..mil. of doL,

Business property doProperty held for sale doAll other assets do

Liabilities, other than interagency, totalmil. of doL.

Bonds, notes, and debentures;Guaranteed by the U. S doOther do

Other liabilities, including reserves, .doPrivately owned interests doProprietary interests of the U. S. Govern-

ment mil. of doL.Reconstruction Finance Corporation, loans out-

standing, end of month:iGrand totalt thous. of dol..

Section 5 as amended, total doBanks and trust companies, including

receivers thous. of dol,,Building and loan associations doInsurance companies doMortgage loan companies doRailroads, including receivers doAll other under Section 5 do

Emerg. Rel. and Constr. Act, as amended:Self-liquidating projects (including financ-

ing repairs) thous. of dol. .Financing of exports of agricultural sur-

pluses thous. of dol. .Financing of agricultural commodities

and livestock thous. of dol._Loans to ousiness enterprises (including

participations) thous. of dol .Authorizations for national defense under

the Act of June 25, 1940*, - t h o u s . of dol -Total, Bank Conservation Act, as amended

thous. of doL.Drainage, levee, irrigation, etc do.Other loans and authorizations! do.

CAPITAL FLOTATIONSSecurity Registrations t

(Securities and Exchange Commission)

Total securities effective under the SecuritiesAct of 1933 thous. of dol , .

Substitute securities* doRegistered for account of others doRegistered for account of issuers, exclusive of

substitute securities thous. of doL.Not proposed for sale .-doProposed for sale:

Cost of flotation:Compensation to underwriters, agents,

etc thous. of dol..Expenses do

Net proceeds, total doTo be used for:

New money.. doPurchase of:

Securities for investment doSecurities for affiliation doOther assets do

Repayment of funded debt doRepayment of other debt doRetirement of preferred stock..doOrganization expense doMiscellaneous do

488, 758445, 29334,040

431,29468, 30848, 910

2,3121,044

2,820,257725, 550

85,3103,2661,389

186, 389447, 771

1,425

17, 737

47

434

142, 618

674, 087

431, 33574, 343

734,106

154, 477212

4,105

150,1595,305

1,724863

142, 267

83, 233

5520

4.83243, 7549,071

8130

13

365, 351333, 258

29,371318, 57844,03937t614

2,021772

12, 3988,613

1,198512

2,387

3,3021,214

834597

1,0941,260

8,406

5,8081,3541,243

412

3,580

,648,746720, 324

83,1104,6902,105

157,094469, 769

3,554

31, 785

47

445

127, 906

27, 316

564,74483, 40992, 772

287,4565,7433,369

278, 34522, 219

4,8741,233

250,019

14,899

0130

233, 624697512

4270

484, 796362,078

27,923438,484

48,906138,013

2,194887

12, 518

1,208515

2,387

3,2801,291

827601

1,1131,296

8, 579

5,9191,4221,237

413

3,526

1,697,386751,498

109, 214,4,5812,077

159, 534472, 596

3,498

19, 581

47

445

126, 008

63,864

559, 42083, 50794,141

161, 7482,8624,758

154,12846, 931

3,747695

102, 755

9,309

13, 38182

069, 825

6819, 427

1040

740,929740, 226

29, 783692,937428, 722

34,498

2,2081,306

12, 5008,682

1,221516

2,390

3,2571,298

829593

1,1411,257

8,526

5,9171,3951,214

415

3,559

1,712,635763,653

115,0284,2681,998

165,118473, 881

3,360

19, 511

47

443

121, 678

51, 387

556, 71183,460

115,875

322,6180

4,859

317, 76025, 594

6,8821.626

283, 658

33, 863

4,612249173

223, 9001,934

18, 2560

672

371,605339, 778

33, 257319,169

62. 75946,613

1,8811,271

12, 6458,639

1,174523

2,424

3,2081,309

850599

1,1901,367

8, 599

5,9151,3891,294417

3,629

'1,804,249770, 730

112,0263,9981,906

168. 044481,9612,795

19, 486

47

443

119,061

71, 249

649,19583, 23190,936

415,6990

25,150

390,54924,620

10, 6771,261

353, 990

18,147

152, 84200

154, 0492,09325,711

01,148

673,690541,35231,630502,046104.408193,379

lt9101,025

12, 6768,614

1,136518

2,395

3,2121,352

863600

1,2061,392

8,592

5,9141,3861,292418

3,666

1,939,886768, 580

108, 7714, 2621,790

169, 027481,9772,753

19, 443

47

443

117, 464

93,912

468, 85382, 897388, 378

183,0980

3,514

179, 58418, 242

1,174874

159, 294

13,069

01,372

0128, 97313,0002,268C)613

1,566,8711,566,40839,950

1,513,0171.207,51334,131

2,098801

12, 9098,681

1,115523

2,406

3,2511,386

6021,2451,501

8,696

5,9161,3901,391421

3,792

1.982,357773,899

105,8084,3681, 742

172, 452486, 8772,652

18, 644

47

443

115,827

137,171

463, 24883,161389, 260

162, 8282,397

0

160, 43133,033

4,267720

122,411

46,800

23,4930

13346,038

5405,069

0337

602,443565, 41849,197352,00574,88143,053

1,744842

13, 2828,796

1,103523

2,427

3,3341,409

6081,2971,685

9,377

6,5601,3851,432422

3,484

2,020,115771, 727

102,7024,8131,722

173,118486, 9382,435

18, 615

47

443

114,478

188,244

460, 31375, 859390, 389

186,9960

32,048

154,94862,174

2,384551

89, 839

541,159393, 68341, 060

482,85863, 271165,204

1,730770

13,1088,800

1,099506

2,436

3,2881,472

905623

1,3921,389

9,297

6,3711,4341,492423

3,388

2,088,893752,300

99,3044,5941,696

174, 640469, 6582,408

18, 550

47

439

154,305

239,194

458,47174, 497391, 090

272, 521665

76, 515

195, 34130,861

3,983727

159, 770

20,

11,

1,54,

1,

182

3390

564650802175

Q

120

12,

2,

144,

642

256100

0390206101

aO69

1,277,0921,276,00938, 217

1,211,087916,17031,817

1,690754

13,2778,804

1,115505

2,445

3,2271,511

925636

1,4971,415

9,417

6,3701,4431,604424

3,436

2,152,843751,305

96, 7024,3561,669

176, 579469, 6342.365

18,490

47

439

151, 733

306, 243

455,19878, 622390. 766

163, 584216

11, 838

151, 5302,297

2,7261,055

145, 452

17, 493

4,8530

700113,2472,5466,598

015

455, 556412, 94236, 743399, 78383,66847, 926

2,222787

13,8538,756

1,101497

2,413

3,1911,553

947653

1,5671,930

10,142

6,9391,4421,761425

3,286

2,230,358740, 224

92,9383,9181,628

177,864461, 5672,308

553,833396, 51034,511500,18958, 674

172, 696

2,246927

13,8828,826

1,076497

2,413

3,1521,690

967664

1,6251,800

10,123

6,9371,4451,741426

3,333

2,363,687737, 864

89, 7873,5741,551

180, 517460, 9531,482

18,291

47 |

437

150,462

355, 741

451,42978,626

435,102

648,401374

29,481

618, 545327, 760

1,2721,749

287,765

148,024

2,211020

130,0337,476

002

47

437

149, 6 3

409, 626

435, 82877, 243

534, 915

1,136,0791,134,91436,114

1,076,506779, 91737,197

2,107691

14,0768,864

1,075497

2,427

3,1281,738

6711,7101,862

10, 231

6,9371,4341,859

427

3,418

2,541,142738, 058

3,3701,532

182, 787460, 813

1,469

18, 085

47

436

147, 422

567, 097

433, 23876, 962

559, 797

108, 230 176, 0420 60

10, 748 31,£

97, 4826,397

1,595493

18,923

9,63000

58, 5200

1,8970

28

144,0982,536

954619

139, 988

28,433

3,72800

104, 7081,2131,823

083

r Revised. • Less than $500. ^Includes repayments unallocated, pending advices, at end of month.fRevised series. For revised data on income taxes beginning September 1936, see table 50, p. 18 of the November 1940 Survey. Data on total loans of the Reconstruction

Finance Corporation and "other loans and authorizations" revised beginning January 1937 to exclude a loan of $146,500,000 to the Rural Electrification Administration, ad-vanced in varying amounts during 1937-39, now classified under allocations; this loan has been excluded from data shown in the Survey beginning with the October 1940 issue.Certain other comparatively small revisions have been made in the grand total; currently such revisions are not carried into the detail. Data on security registrations revisedbeginning January 1938, see table 47, p. 15 of the November 1940 Survey.

* New series. The new item of "net receipts" excludes social security employment taxes appropriated directly to the Federal old-age and survivors insurance trust fund;for data beginning January 1937, see table 50, p. 18 of the November 1940 Survey. For data beginning 1938 for substitute securities, see table 47, p. 15 of the November 1940Issue. Authorizations for national defense include loans, participations and purchases of capital stock in corporations created by the Reconstruction Finance Corporationto aid in national defense.

® Excludes collections from national defense taxes under Revenue Act of 1940.



1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary


tember

FINANCE—Continued

CAPITAL FLOTATIONS—Continued

Security Registrationsf—-Continued(Securities and Exchange Commission)

Gross amount of securities less securities re-served for conversion or substitution, total

thous. of dol.Type of security:

Secured bonds _ doUnsecured bonds doPreferred stock _.doCommon stock... _ _doCertificates of participation, etc do

Type of registrant:Extractive industries doManufacturing: industries ___doFinancial and investment doTransportation and communications.doElectric light, power, heat, gas and water

thous. of doL.Other do....

Securities IssuedJ(Commercial and Financial Chronicle)

Securities issued, by type of security, total (newcapital and refunding) ...thous. of dol_

New capital, total _.doDomestic, total. do

Corporate, total doBonds and notes:

Long term ...do.Short term do.

Preferred stocks „ do.Common stocks _ ...do

Farm loan and other Government agen-cles.. ...thous. of doL.

Municipsl, State, etc.. __.do-Foreign, total _.. _do-

Corporate ._ do.Government do.United States possessions -do.

Refunding, total do.Domestic, total do.

Corporate, total-, _do.Bonds and notes:

Long term do.Short term _do.

Preferred stocks doCommon stocks do

Farm loan and other government agen-cies. ..thous. of dol__

Municipal, State, etc doForeign, total do

Corporate— _ _ doGovernment doUnited States possessions do

Corporate securities issued by type of borrower,total thous. of doL.

New capital, total doIndustrial doInvestment trusts, trading, and holding

companies, etc thous. of dol..Land, buildings, etc doPublic utilities __. doRailroads doShipping and miscellaneous do

Refunding, total doIndustrial doInvestment trusts, trading, and holding

companies, etc_ thous. of doL.Land, buildings, etc doPublic utilities doRailroads do... .Shipping and miscellaneous do

Domestic issues for productive uses (Moody's):*Total mil. of doL.

Corporate doMunicipal, State, etc. do

(Bond Buyer)State and municipal issues:

Permanent (long term) thous. of dol._Temporary (short term) _ do

COMMODITY MARKETSVolume of trading in grain futures:

Wheat mil. of bu._Corn .do

SECURITY MARKETSBrokers9 Balances (N. Y. S. E. members

carrying margin accounts)Customers' debit balances (net) mil. of dol..Cash on hand and in banks doMoney borrowed doCustomers' free credit balances do

»149, 559

44,12810, 00013. 13880, 723

991

080, 22910, 5791,848

48, 7608,143

299, 302132, 066132, 066103, 261

49, 6260

2,70050, 935

028, 805

0000

167, 236167, 23697, 050

96, 2500

8000

34, 82235, 364

0000

200,311103, 26163,178

0214

5,84021, 32912, 70097, 05016, 336

02,056

74, 6584,000

0

635310

67, 34890, 907

45493

628

414255

273,307

230,48311,42923,8697,397

130

3,17770, 097

1,7797,722

189,833700

'710,366••257,205r 257, 205

47,728

21,5300

9,87716, 321

112,099T 97,379

0000

453,160453,160345, 347

331, 6510

13, 65145

28, 05079, 764

0000

393.07547,72816, 268

0148

5,89415. 25810,160

345,34786,660

0367

207,33450,558

428

674027

182,493117,406

360

653203381269

158,886

70,6071,768

24, 26326, 57835, 672

1,73118, 24349, 926

200

78,05210, 734

441,966263, 680263, 680168,943

166,0000

8642,079

42, 00052, 737

0000

178, 286178. 28693,943

65, 9312,000

25,595416

59, 46524, 879

0000

262, 886168, 943

2,834

025

141.33523,840

90993,94353, 586

03,592

24,8941,329

10, 541

21116546

79,802167,225

40691

214383280

318,856

147,045107, 31848.90715, 552

35

250115, 944

19, 353209

171,36011, 740

613, 226190, 966190, 96662,199

44, 8501,0009,7036,645

0128, 767

0000

422, 261422. 261334, 580

292,0170

38, 7023,861

14, 30073, 381

0000

396, 77862,19919,057

00

5,33612,03025, 776

334. 58033,575

4,0001,202

221,2740

74, 529

13928

111

202,40296,146

68

677204427281

393,713

135. 36560,0376,537

31,8265,598

0114, 377162, 69369,488

43, 6683,487

420,83595, 46195,46152,929

50,348330

1,1541,096

2,20040, 332

0000

325, 374325, 374271, 388

251,89216, 6702,286

540

30,80023,186

0000

324,31652,92910,243

0155

10, 71530, 395

1.421271.38899,406

03.837

134,9409,790

23,415

804733

77,939175,389

22847

661207399275

182,543

133.1592,983

37,5658,832

5

024, 0972,983

0

151,3414,122

334, 03777, 05677, 05631,550

24,851637

3,7522,310

8,12537, 381

0000

256, 981256. 981227,012

208,911703

17,3980

17,42512, 544

0000

258,56231, 5506,311

065

6.52718,010

637227,012

1,107

011,250

161,42450, 7182,513

512724

190. 249177,957

27744

634199375267

157,514

82,6700

48, 4222,151

24, 270

041,01325,9762,468

87,729329

405, 553182,311182,31186, 634

55, 9720

29, 4681,195

9,44086, 237

0000

223, 242223, 242115, 288

83,6800

31, 6070

4,00092,829

Q

000

201,92286,63426,612

0106

39, 6613,120

17,136115, 28841,500

02,876

67,6023,000

309

1025349

104,21663,074

43958

633199387268

182,325

89, 77033,28810, 57044,0104,687

57165,13672, 2216,074

37,0611,263

920,916746,178745, 32839,470

28, 437641

7,3243,068

645,44260,416

85000

850174, 738174, 738107,181

106, 472709

00

27, 72539,833

000

146, 65039,4708,781

047

18,4019,1003,141

107,18137,007

01,929

39,1864,000

25,059

752352

101, 65689,394

43257

606199368265

269,620

88,43449,50075,18156,404

100

250123, 499

3,3018,171

133,644755

405, 839106, 750106, 75063,874

60,945550

2,875

5,44037,436

0000

299,089299, 089197,102

161, 7570

35, 3450

28, 30073, 687

0000

260, 97663,87419,459

00

3,77536, 7153,925

197,10251,170

02,875

138,8820

4,175

116, 027138, 683

54877

622185403262

161,071

111, 4801,000

21,98021, 1115,499

1,68715,6055,260

16,690

121,8290

881,131519, 255519, 00590,467

74,6362.010

10, 3873,434

369,74158, 797

25000

250361, 876361, 876113, 390

108,0870

5,3030

222,86025,626

0000

203,85790,46729, 454

0386

7,58451. 235

1,808113. 39021,886

0328

83, 3176,8601,000

1136350

144, 69281, 995

50453

616186395255

413,842

0268, 28623,09494, 33628,126

017,1664,190

354, 273

18,09420,119

612,092296,024295, 624

43, 569

30,377

o9,8253,367

212, 21239,843

40000

400316,068316,06886, 468

75, 7930

10, 525150

215, 55314,047

0000

130, 03843, 5694,068

0

10, 55922,8526,090

86, 46834,875

00

45, 5930

6,000

673829

r 151, 705150, 913

45737

628189388266

108,038

34,32646, 0884,43418, 027

363

057, 24511, 223

0

34, 3265,244

470, 728360, 284360, 284327, 403

323, 8250

1,6031,975

0

0000

110,444110, 44474, 427

72, 5300

1,8970

25, 42010, 597

0000

401, 830327, 40352,018

00

238, 08523, 30014, 00074, 4272,742

0245

71, 6250

60

30328122

r 48, 480169, 792

53177

628189460262

174, 849

18, 24991,65814, 97846, 2133,750

12124, 800

3, 750104,689

22, 73718, 751

273, 40064, 85664, 85634, 265

22,1400

8, 4583,667

030, 591

0000

208, 544208, 544161, 391

155, 8810

5, 398112

26, 95520,198

0000

195. 65634, 26511, 552

0230

7,9227, 0607,500

161, 39122, 782

01,674

102, 09834, 837

0

472522

65, 26453,669

500103

633196396260

r Revised.1 The indicated totals include face amount installment certificates not included in the break-down by type of security as follows: January, $154,350,000; August, $4,800,000;October, $579,000.

JFor revisions in 1939 data from Commercial and Financial Chronicle, see notes marked " J" on p. 34 of the September 1940 and p. 35 of the March 1941 Survey.•New series. For data on domestic issues for productive uses beginning 1921, see table 34, p. 17 of the September 1940 Survey.tRevised series. Data on security registrations revised beginning January 1938: see table 47, p. 15 of the November 1940 Survey.



1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary


tember

FIN AN CE—Continued

SECURITY MARKETS—ContinuedBonds

Prices:Average price of all listed bonds (N. Y. S. E.)

dollars. -Domestic doForeign _.. do

Standard and Poor's Corporation:?Composite (60 bonds)._dol. per $100 bond..

Industrials (20 bonds) __. .do.Public utilities (20 bonds) _do.Rails (20 bonds) do.

Domestic municipals (15 bonds) do.U. S. Treasury bondst do

Sales (Securities and Exchange Commission):Total on all registered exchanges:

Market value thous. of doLFace value _ do

On New York Stock Exchange:Market value doFace value do

Exclusive of stopped sales (N. Y. S. E.),face value, total thous. of dol..

XJ. S. Government. do.Other than U. S. Govt., total..do

Domestic do._Foreign do . .

Value, issues listed on N. Y. S. E.:Face value, all issues mil. of dol

Domestic do . .Foreign do _ -

Market value, all issues do.. .Domestic do_ _Foreign do-.

Yields:Bond Buyer:

Domestic municipals (20 cities)._. percent-.Moody's:

Domestic corporate doBy ratings:

Aaa -doAa_. do . . .A __..do--_Baa. do. . . .

By groups:Industrials doPublic utilities d o _ -Rails do_-_

Standard and Poor's Corporation:!Domestic municipals (15 bonds) do

U. S. Treasury bond?t doStocks

Cash dividend payments and rates (Moody's):Total annual payments at current rates (600

companies) mil. of doLNumber of shares, adjusted millions,.Dividend rate per share (weighted average)

(600 cos.) dollars..Banks (21 cos.) doIndustrials (492 cos.) doInsurance (21 cos.) doPublic utilities (30 cos.) doRails (36 cos.) do . . .

Dividend declarations (N. Y. Times):Total thous. of dol.

Industrials and miscellaneous do-._Railroads do—

Prices:Average price of all listed shares (N. Y. S. E.)

Dec. 31, 1924=100.Dow-Jones & Co., Inc. (65 stocks)

dol. per share._Industrials (30 stocks) doPublic utilities (15 stocks) doRails (20 stocks) do

New York Times (50 stocks) do.. .Industrials (25 stocks) do.. .Railroads (25 stocks) do.-.

Standard and Poor's Corporation: tCombined index (402 stocks)..1935-39=100

Industrials (354 stocks) doCapital goods (116 stocks) do.. .Consumer's goods (191 stocks) do...

Public utilities (28 stocks) do...Rails (20 stocks) do._

Other issues:Banks, N. Y. C. (19 stocks) do._Fire and marine insurance (18 stocks)

1926=100Sales (Securities and Exchange Commission):

Total on all registered exchanges:Market value thous. of doL-Shares sold thousands

On New York Stock Exchange:Market value thous. of dol..Sharessold.— thousands.

Exclusive of odd lot and stopped sales(N. Y. Times) thousands.

95.2598.7250.75

85.691.1

101.664.2

112.0

178,8991,307

177,592163,41314,179

57,85653,6734,183

55,10752,9842,123

3.27

2.732,873.214.28

2.853.053.93

, 840.31938.08

1.962.991.972.621.861.58

273,902265, 814

8,089

53.2

41.26121.1817.6528. 5487.37

153.7121.04

13,137

92.8497.0344.86

83.689.2

100.661.0

124.6108.8

114,881185,154

93, 532159,704

150,9812,496

148,485129,46019,025

54, 32949,9664,363

50,43848,4811, 957

2.32

3.46

2.793.013.484.56

3.063.184.15

2.322.10

738. 04936.43

1.863.011.832.541.961.36

221,404213,843

7,561

58.4

44.72132.3922.0728.8397.29

173.2621.34

86.085.490.188.393.772.6

89.0

102.3

591,70324,006

505,19318,522

14,484

93.5897.7845.60

83.990.3

100.560.9

127.3110.7

114,606186,432

95, 500164, 080

159,0062,422

156, 584139,191

17, 393

54, 23749, 8774,360

50,75648, 7681,988

2.18

3.40

2.752.963.404.48

2.983.144.07

2.181.97

1, 781. 52936.43

1.903.011.882.541.971.47

685, 574635,11050,463

57.0

45.04133. 9021.2229.3695.86

170.3221.40

86.786.690.688.292.373.6

92.4

106.7

876, 45237,022

763,48129,040

20.893

93.8498.1045.07

84.090.2100.761.1129. 3111.8

125,383248,906

103, 243221, 475

211,2372,206

209, 031190,14918,882

54,16949, 8204,34950,83148, 8711, 961

2.14

3.36

2.712.923.364.45

2.933.134.03

2.071.89

1, 792. 84936.43

1.913.011.892.541.971.53

331,721305,65226,069

57.2

43.39130.4519.9127.6193.68167.1620.21

84.984.989.485.690.670.0

92.7

107.2

706,23133,003

596, 80623, 744

18, 400

93.0597.1645.81

85.390.5

101.264.3

127.8110.4

147,635276,042

125,090248, 732

230,9872,707

228, 280212,63715,643

54,13949, 7994,340

50, 37448, 3861,988

2.29

3.36

2.752.953.364.38

2.963.173.96

2.161.99

1,791.94938.08

1.913.011.892.541.941.53

218,317204,574

13,743

55.0

43.82130.1720.1729.0193.24

165. 4321.06

85.084.788.985.491.173.4

92.9

108.1

613,19426, 545

519, 36020,064

13,295

92.7296.8245.47

84.589.9

100.962.3

125.6108.8

91,476148, 219

75,999130,068

123, 6472,224

121,423109, 26512,158

54, 22549, 8914,334

50, 27748, 3071,971

2.43

3.40

2.783.003.384.42

3.003.194.00

2.272.10

1, 796. 56938.08

1.923.011.902.541.941.53

375, 872360,210

15, 662

53.8

41.21121.6819.3727.5487.07

154. 2019.94

80.179.482.580.387.170.0

89.3

102.9

403,34418,555

336, 50513,481

8,971

93.7397.7346.28

85.390.2101.364.3125. 4110.1

118,851235, 872

96,162209,379

214,3821,417

212.965199,17313,792

55, 74651, 4194,328

52, 25250, 2492,003

2.33

3.39

2.803.013.374.38

3.023.173.98

2.282.01

, 816.13938.08

1.943.011.922.54

* 1.941. 56

231,737226,3155,422

54.1

41.60122. 5219.5628.0387.66154. 8620.46

80.379.682.780.487.170.6

89.2

103.6

383,34819,169

318,75013,688

10,111

94.3298.2547.01

85.890.2101.165.9126.8110.8

133, 274269,892

109,867242, 720

209, 4711,497

207.974194,88513,089

55, 67851,4164,26252,51850,5152,003

2.26

3.39

2.823.043.384.33

3.063.163.96

2.201.96

1,817.77938.08

1.943.011.922.541.941.56

199,198192,3756,823

51.4

40.74119.1018.6628.4885.41150.1720.65

77.977.379.876.883.171.2

85.1

101.9

416, 67420,217

347, 71015,356

11,178

94.2298.0847.67

86.090.1

101.266.7

128.2111.4

119,252218, 628

100, 577196,932

169, 272948

168,324153,83114, 493

55, 53451, 2784, 25552, 32250, 2932,029

2.14

3.37

2.812.993.344.32

3.023.133.95

2.141.92

1,821.65938.08

1.943.011.932.541.941.57

517, 369476, 79240,577

51.5

39.73116.4417.3028.2584.71149.0020.42

77.177.379.674.878.970.7

82.9

102.3

384,46217,618

323,88513,194

9,661

94.8098.6047.79

85.890.4101.165.8129.5111.5

95,055173, 215

78, 266153,363

149,4261,010

148, 416135,17413, 242

56,15951,9524,20753, 23751, 2272,010

2.07

3.34

2.772.953.314.31

2.963.103.95

2.081.91

1,823.85938. 08

1.943.011.932.591.951.57

256,858238,51518, 343

54.0

40.95121. 5717.6128.1188.29156.0920.48

79.579.783.976.781.670.9

84.6

105.9

411,01218,052

350,14613,740

10, 451

95.0498.9247.11

86.391.1101.066.6130.4111.7

116, 272222,973

98,274201,056

189,1182,598

186, 520174, 58811, 932

56,04151,8364,20553, 26051,2791,981

2.07

3.30 I2.74 I2.903.26 i

2.90 i3.07 !3.92 I

2.03 |1.90 !

1,821.08938. 08

1.943.011.932.591.921.56

94. 8698.5848.85

86.091.0101.265.9131.0111.1

87, 766160,891

74, 506144,101

140,1571,431

138,726127,51511,211

56,10151,9004,20153, 21751,1652,052

2.08 |

3.29 !!

2.90 !3.24 |4.27 |

2.90 !3.06 |3.92 ]

2.00 j1.94 !

94.7498.2750.79

85.691.2

101.663.9

131.2111.1

105, 508177,029

89, 563155,537

140,9631,319

139,644127,57512, 069

56,38752,1924,19553,41851,2872,131

2.02

3.30

2.752.913.244.30

3.073.95

1.991.94

1,822.61 1,828.35938. C

1.943.011.932.591.921.56

245, 731 380, 592232 625 362,418 -~»,uw13,106 |t 18,174 6,654

938.0

1.953.011.942.591.911.58

236, 622229,968

56.7

43. 01127. 5718.4829.6092.24162. 5721.92

83.284.288.480.281.873.8

89.0 I

111.9

611, 46429,073

522, 47522, 226

17,871

56.5

42.99126.6718.5030.1991.32160. 3322.36

83.284.388.081.281.074.4

I

55.9

42.90127.3518.6229.2890.91180.0821.74

83.684.887.882.981.3

88.4 | 87.6

115.4 i U5.6

415,088 I 512,75022,087 24,682

426.83918, 021

13, 545

346,22715,858

10, 875

§Formerly Standard Statistics Co., Inc. |Partially tax-exempt bonds.t Revised series. For data beginning 1931 on Treasury bond prices, which relate to partially tax-exempt bonds, see table 55, p. 17 of the December 1940 Survey. Earlier

data for the revised series on stock prices compiled by Standard and Poor's Corporation will be shown in a subsequent issue.



1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary


tember

FIN AN CE—Continued

SECURITY MARKETS—Continued

Stocks—Continued

Shares listed, N . Y. S. E.:Market value, all listed shares mil. of dol . .Number of shares listed millions..

Yields:Common stocks (200), Moody's percent..

Banks (15 stocks) doIndustrials (125 stocks) doInsurance (10 stocks) doPublic utilities (25 stocks) . .doRails (25 stocks) do

Preferred stocks, high-grade (15 stocks),Standard and Poor's Corp.t percent..

Stockholders ( C o m m o n Stock)

American Tel. & Tel. Co., total number . .Foreign do

Pennsylvania R. R. Co., total doForeign do

U. S. Steel Corporation, total doForeign doShares held by brokers percent of total . .

39,0571,465

6.35.06.44.16.66.5

42, 6741,453

5.44.35.54.25.75.3

4.10

41,8481,457

5.64.35.74.16.05.8

4.08

41, 8911, 455^

5.74.35.74.25.96.2

3.97

630, 8126,404

205, 8832,724

160,6762.74927.37

40, 2801,455

5.94.46.04.26.06.2

3.94

39, 3981,455

6.04.56.24.36.16.2

4.05

39, 6961,457

6.14.56. 24.26.26.2

4.08

630, 3665, 742

204, 7761,680

164, 6872,66426.00

37, 7111,463

6.44.86.64.46.76.3

4.10

37,8151,463

6.44.96.54.36.86.5

39,6081,463

6.14.56.24.26.56.4

4.15

630,9565,609

206,0501,581

164, 7852,60525. 30

,654,463

5.84.55.84.06.45.9

41,4721,464

5.94.65.93.96.46.0

4.02

40,9841,463

5.94.65.93.96.56.3

4.04

632, 2935,481

205, 7241,535

164, 2622,59025.00

FOREIGN TRADE

INDEXESExports:

Total: Value, unadjusted 1923-25=100.Value, adjusted do.__

U. S. merchandise, unadjusted:Quantity do. . .Value do. . .Unit value do. . .

Imports:Total: Value, unadjusted do.. .

Value, adjusted do. . .Imports for consumption, unadjusted:

Quantity 1923-25 = 100.Value do.. .Unit value do. . .

Agricultural products, quantity:Exports, domestic, total:|

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

Totai, excluding cotton:Unadjusted do.._Adjusted do_._

Imports for consumption:*Unadjusted doAdjusted do.. .

VALUE §

Exports, total, incl. reexports thous. of dol.By grand divisions and countries:

Africa d o . . .Union of South Africa do-_.

Asia and Oceania . d o . . .British India do__.Japan d o . . .Netherlands Indies. do _. _

Europe d o . . .United Kingdom do _. _

North America, northern d o . . .Canada do___

North America, southern d o . . .Mexico do_._

South America d o . . .Argentina d o . . .Brazil d o . . .Chile - d o . . .

U. S. merchandise, by economic classes:Total thous. of doL

Crude materials d o . . .Cotton, unmanufactured do

Foodstuffs, total doCrude food stuffs doMfd. foodstuffs and beverages doFruits an'i preparations doMeats and fats doWheat and flour do

Semimanufactures doFinished manufactures do

Automobiles and parts doGasoline doM ach inery do

General imports, total doBy grand divisions and countries:

Africa doUnion of South Africa do

Asia and Oceania doBritish India doJapan doNetherlands Indies do

Europe doUnited Kingdom do

North America, northern doCanada do

9174

1369067

6463

1176757

29

118118

343, 485

15, 61310, 77666, 9576,121

26,1956, 346

122, 003107, 59777,88676, 68231, 55610, 06129, 4715,1517,1763,389

336,16529,18810, 54118, 3607,52810,8322, 3621, 7542.946

81', 421207,19522, 5316,91561, 046207,141

9,7144,078

89. 8448, 33918, 36112,37718, 3309, 87339,16338, 050

8675

1278668

6969

1206857

25

122129

327, 685

16, 94511,82755,8946,86316, 4435, 987

118, 695102, 37565, 60964.26233, 7929,77236, 7495,920

10, 8074,081

321, 27524, 6007,703

14, 6503,60311,0471,9741,8592,703

70, 651211,37326, 8288,32062, 873223,430

13,1912 960

93, 2507, 037

21, 67613,04024,60010, 42844,12242, 533

85

1268567

7879

1307557

131131

322, 257

16, 62411,03860, 4056,45919, 3436,184

116,329101, 25363, 26662, 43933. 80710, 55431, 8244,73410, 0463,360

315, 32320, 4536,41713, 7193,48810, 2312,6381,8371,686

67,154213, 99724, 4706,61563, 327

253, 099

13, 6634,479

105, 8237,12214, 03319, 38726,18713, 61043, 61941, 913

8684

1248569

7170

11780

120 i 11870 6858

137132

325, 355

22, 04711,80654,8768,78011,5886,319

126, 772116,63162, 44961,88630, 0228, 50729,1885,3009, 2162,955

317,95316, 0923,12013. 7462,88710, 8591, 9442, 0481,530

69, 989218, 12625. 3796,101

60, 993228, 636

10, 2033,51591,4176, 31410, 39115, 21220,1199,74236, 58635, 486

58

135131

303, 413

19,95412, 07659, 4986, 51511,1087,596

96, 33677, 26965, 23364, 41933, 0109,82429, 3815,2238,8433,249

298, 27315, 2343,80016, 0102,84113,1692,0982,4952,103

56, 973210, 05624, 0284,25054, 426233, 702

8,7393,890

89, 69810, 6808,12713, 73817, 9419,44335, 42834, 287

9493

1389468

8375

1338060

2427

3336

141125

357, 233

35,12115,77064, 75310, 86810,1127,722

113, 23395, 50969, 89868, 61637, 20011,74537,0286,400

11,9924,463

350, 44619.6585,862

16, 7934,262

12, 5311, 9333,3173, 030

60, 644254, 206

29, 0843,733

61, 604267, 784

11, 5934,277

106, 3038, 926

10,48814, 49426,10012, 58338, 59237, 834

102107

14510170

8982

1438660

2328

3440

147136

385,454

28,35416, 03064, 0929,1548,4197,955

145,964127, 62372,13770, 81338, 22613,19336, 681

5,85810, 5054,107

376,18516,8574,380

18, 2693,963

14, 3061,7683,2413,979

67,004274, 054

28, 6422,732

63, 751287, 550

12, 3453, 628

97, 8376,172

11, 02014, 50435, 79315,04940,18939, 357

101108

14710169

9290

1428862

2937

4556

154159

384, 636

36,92515, 55871, 0787,3896,6219,845

110,109103,22881,16579,61142, 07113, 77042,989

7,69813,1774,214

376,35428, 6474,389

25, 3238,388

16,9353,2622,4723,923

55,136267, 248

30, 5113,394

59, 631296, 930

14,0754,418

115, 2408, 095

10, 86921, 63023, 355

9, 57649, 50648,192

8798

1228771

8791

1308263

3141

4960

127138

329, 776

20, 9045,726

52, 3504,0555,687

10, 287111,478103,108

75, 33374, 30735, 70812, 59734,003

6,7558,6993,978

323, 72829, 034

4,71633,1735,368

27,8052,117

11, 2542,573

51,019210, 501

21,4744,313

45, 437279, 536

11,4162,856

102, 53010, 61313,00017, 32424, 506

9,79749, 31448,156

94107

1309472

8693

1328363

3954

6886

120136

358, 649

39,43410,70943, 627

5,5753, 3467,116

139, 327128, 77169,40168,07629,9268,337

36,9359,5689,7093,752

348,89029,8244,516

45, 7637,291

38,4723,240

17, 3242,048

53,279220, 025

17, 5223,244

45, 510277,847

13, 5585,638

118,66511, 5448,835

23, 39223, 54811, 39246, 55844, 585

120130

15811875

8791

1358664

'120' 131

455, 257

58,13426,94264, 78812, 3451, 662

10, 104143, 981129, 372100, 85598. 77646,02014, 32441, 4939,12310, 9714,915

438, 26430, 3935,843

42, 2646,758

35, 5063,55415, 8993,054

67, 587298, 01925, 3065,21364.438

282, 513

14, 4466,814

108, 87113, 695

57327, 96718, 82512. 42456, 48453, 935

110105

14510975

1298365

5248

7570

99107

417,139

29, 2759,958

54, 9198,422(a)

12,350162, 049143, 22989,16787, 23538, 76512, 33042,9639.97511, 3064,152

406,05739, 81315, 05251,09910, 38040, 7195,95216, 3024,609

61, 296253, 84922, 5207,915

54, 208262, 680

10,8354,827

96, 5899,1292, 53514, 86222, 27211,17050, 89049,458

r Revised. ^ • Less than $500. ® Formerly Standard Statistics Co., Inc.t Revised series. Revised data beginning February 1928 for preferred stocks will be shown in a subsequent issue. Indexes of agricultural exports have been revised to

new base. Earlier monthly data will be shown in a subsequent issue.* New series. Data beginning 1915 for indexes of agricultural imports will be shown in a subsequent issue.§ Data lor 1939 revised; see tables 14 and 15, pp. 17 and 18 of the April 1941 issue.



1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary


tember

FOREIGN TRADE—Continued

VALUE §—ContinuedGeneral imports by grand divisions and coun-

tries—Continued.North America, southern thous. of doL

Mexico do—South America do—

Argentina do—Brazil ..do-.-Chile ~ - - do._-

Importg for consumption, total do.-_By economic classes:

Crude materials do. . .Crude foodstuffs do._.Mfd. foodstuffs and beverages doSemimanufactures doFinished manufactures do

16,4405.105

33, 6505,0109,9046.378

213,133

88,90422, 62521,17646,04534,383

14,8844,81133. 3836,9029,3404,435

217,176

93.83822,69522,44444,38333, 816

15, 7825,769

48, 02411,61312, 7116,709

238. 275

110, 37525, 93119,43552,00930, 524

24,4747,74346,83711,18611,6444,999

223, 595

97, 63330, 29120, 55247,13127, 988

28, 0727,51653,82511. 73215, 3839,139

216,623

91,80531.21122. 94042,20828,458

33, 9488,93651,24612, 62413,2957,917

254, 553

106, 67432, 89226. 65257, 93630, 399

39, 7879.237

61, 59715, 71815, 94410,848

274,593

103,43736,62133,12566, 37735,032

38,7068,36566,04814, 43717,1678,200

281,351

116, 77736,41834, 37057,86235, 925

35, 4457,42856,32516,71311, 7715,730

261,097

110, 60931,98828,08254, 55335,864

31, 5546,945

43,96413, 36410, 3079,462

264, 685

119, 26022. 88624, 32062, 24835, 971

32, 6277,702

51, 25913, 6499,9598,790

273, 898

126, 48024, 47222, 97563, 98935, 982

33, 5327,311

48, 56114. 75610, 25712,107

265,162

117,02416, 99225, 49970, 25735, 389

TRANSPORTATION AND COMMUNICATIONS

TRANSPORTATIONExpress Operations

Operating revenue ..thous. of doL.Operating income d o —

Local Transit LinesFares, average, cashratef cents..Passengers carried! thousands..Operating revenues thous. of doL.

Class I Steam RailwaysFreight carloadings (Federal Reserve indexes) :f

Combined index, unadjusted... 1935-39«* 100..Coal. do.. . .Coke_ doForest products.. d o —Grains and grain products do.. . .Livestock doMerchandise, 1. c. 1 d o —Ore do.. . .Miscellaneous. do

Combined index, adjusted do. . . .Coal do.. . .Coke do.. . .Forest products d o —Grains and grain products . . .doLivestock.. d o —Merchandise, 1. c. 1 doOre do-...Miscellaneous do

Freight-car loadings (A. A. R.):JTotal cars thousands..

Coal doCoke do.. . .Forest products doGrains and grain products. .doLivestock doMerchandise, 1. c. 1 doOre doMiscellaneous do

Freight-car surplus, total$.._ doBox carst doCoal carsj -do

Financial operations:Operating revenues, total thous. of doL

Freight ..doPassenger do

Operating expenses doTaxes, joint facility and equip, rents*..doNet railway operating income doNet income doOperating results:

Freight carried 1 mile mil. of tons..Revenue per ton-mile cents. -Passengers carried 1 mile millions.-

Fmancial operations, adjusted:*Operating revenues, total .mil. of doL-

Freight-. -doPassenger do

Railway expenses doNet railway operating income doNet income ...do

Canals: Waterway TrafficNew York State _. thous. of short tons..Panama, total thous. of long tons..

In U. 8. vessels _ doSt. Lawrence thous. of short tons-.Sault 8te. Marie do.. . .Welland. .do..-.

Rivers:Allegheny.. doMississippi (Government barges only).doMonongahela doOhio (Pittsburgh district) do.. . .

7.8005895, 539

144138165147104146101232151127121165140979597178133

3,6586755318414982641271

1, 603421810

517,605440,12242, 231

361, 50262,44693, 65752, 953

7001,719882948

13, 9231,688

332

"2," 863"1,759

10,62482

7.8253830, 74160, 542

125104149135107152100238132110911191281009996181116

r 3, 2705054716716486636

'2751,400

882745

413,712348,19633, 465276, 780r49, 294' 87,63842, 654

38,614.9651,922

363.0298.335.0311.551.58.3

8042,4181,1331,070

12, 9711,491

437181

2, 9351,603

10,54267

7.8253801,64658,489

1221211591299612498145125116109150131989887181120

3,7806956119316686752213

1,614963342

375, 364315, 20431, 244259, 45544, 81071, 09930,809

35, 949.9491,772

379.0314.334.9311.767.324.9

5992,0621,127893

8,6421,529

307142

2,7921,468

12,70178

7.8253860,70462, 623

11212116711987929546116119107153133969699164125

2,718560501411185057849

1,1711294557

381, 792308,35040,840266,13436, 86778, 79151,078

34,904.9532,312

400.8333.337.6

315.884.042.8

02,1291,134

13704210

211115

2,9691.545

10,03268

7.8253837, 90359,579

113124174124908494451151221091451381028899180130

2,737577531441234756950

1,1741104342

377, 374309, 58040,159268,96946,04862, 35719, 705

36, 063.8852,216

389.3320.738.6

315.973.432.1

01,9661,102

000

215105

2,8101,581

9,96182

7 8253777, 29456, 220

1151291831288575984511812411314913310293101181131

2,824605561541164159751

1,204873231

358,413296,14636,511255, 59044, 34458, 47914,964

34,182.8992,029

402.4332 540.1318.683.842.8

01,827968000

187100

2, 5321,424

10,53695

7.8199864, 64461,192

12013217612797741015012412612816812711393100192128

3,818818701971725279769

1,643712623

416,319346, 63340, 030

283, 32952. 36380, 62735, 256

40, 577.9292,229

417.0344.542.7334.282.940.8

01,9111,027

000

213127

2, 9071,587

10,81472

7.8199847,07161,427

1083812013096821032031311124513713011393102266130

2,7941633815913646648214

1,39019031139

375, 008305, 23038, 348

274, 93847, 50152, 5697,264

31, 6151.0522,170

382.1309.641.4

323.259.017.1

2502,0571,080

3087,865

664

186159563653

11,238153

7.8061856, 239

62, 347

13111716713510782

10227613813513818213012491

102266136

4,161676

64205184

57795387

1,792723417

442, 286370,903

37, 493296, 590

57, 06588,63043,137

43, 398.932

2,140

438.6365. 240.9

345.693 050.4

6101,9891,133

90015,1531,716

310214

2,9711,727

10,83974

7.8144831,816

59,547

13613117014112369

10126514113915618913612688

102152139

3,510642

5417517239

638301

1,490713417

455,023377,534

44, 832298,932

62, 82993,26152,800

44,036.927

2,564

473.5398.2

43.3363.4110.168.2

6241,585

8871,001

14, 6731,895

320250

2.8331,785

10, 874

7. 8144796,105

58, 576

1381271721491637099

28313913815020014911283

100156140

3,413578

53174230

38603313

1,4256727

485, 446405, 503

47, 402310,035

69, 097106,315

63, 528

46.067.947

2,756

470.9395.142.3

370.5100.457.6

7201,659

9101,043

15, 5111,960

330270

2,8621,781

7. 8144802. 39P>

59, 342

1401391671601258099

2711411391581991521038499

155141

4,464840

66248224

55784386

1,861471911

493, 674410, 213

49, 773313,843

68, 513111,318

65, 500

49, 237.902

2,936

485.4407.744.4

374.4111.065.5

5571,366

818975

15, 2351,858

352265

3,1051,771

7,8005832, 220

60,715

1451401721491221111022611501301331761381118497

149135

3,53965252

17616759

618286

1, 529411510

'488, 979411,241

43, 521312, 287

72, 622104. 070

59, 301

47,616

464.1389.5

41.6379.484.7

5071,481

719944

14,4011,620

326210

2,4921,691

*• Revised . §Data for 1939 revised; see table? 14 and 15, p p . 17 and 18 of the Apri l 1941 issue.IData for November 1940, March, May and August 1941, are for 5 weeks; other months, 4 weeks.•New series. Adjusted data on financial operations of railways beginning 1921 appear in table 33, p. 16 of the September 1940 issue. The new series on taxes and joint

facility and equipment rents is shown to provide figures for obtaining total railway expenses as given in the adjusted figures of financial operations; earlier data not shown inthe September 1940 and subsequent issues of the Survey may be obtained by deducting operating expenses and net railway operating income from operating revenues.

fRevised series. Data on fares revised beginning August 1936; see p. 45 of the July 1940 Survey. Passengers carried revised beginning January 1938; see table 13, p. 18of the March 1941 Survey, Revised indexes of freight carloadings beginning 1919 appear in table 23, pp. 21-22 of the August 1941 Survey.

^Beginning June 1941, data represent daily average for week ended on the last Saturday of the month; earlier data, daily average for lasts or 9 days of the month.



1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary


tember

TRANSPORTATION AND COMMUNICATIONS—Continued

TRANSPORTATION-ContinuedWaterway Traffic—Continued

Clearances, vessels in foreign trade:Total, U. S. ports.- thous. of net tons.

Foreign doUnited States . . .do

TraTelOperations on scheduled air lines:

Miles flown. _ thous. of miles..Express carried pounds..Passengers carried _ number. _Passenger-miles flown thous. of miles..

Hotels:Average sale per occupied room dollars. _Rooms occupied percent of total..Restaurant sales index 1929•*= 100..

Foreign travel:U. S. citizens, arrivals number..U. S. citizens, departures -doEmigrants __ doImmigrants.- doPassports issued do

National parks:Visitors -doAutomobiles >.do

Pullman Co.:Revenue passenger-miles thousands. _Passenger revenues thous. of dol._

COMMUNICATIONSTelephone carriers:

Operating revenues thous. of dol..Station revenues doTolls, message. - do

Operating expenses doNet operating income _ doPhones in service, end of month ..thousands..

Telegraph and cable carriers;fOperating revenues, totalt thous. of dol..

Telegraph carriers, total doWestern Union Telegraph Co., revenues

from cable operations thous. of dol..Cable carriers. - . . .do

Operating expensesf doOperating incomef doNet incomet do

Radiotelegraph carriers, operating revenuesthous. of dol..

3.5571108

4,331

253,48978,112

5,4333,6791,753

10,6351,329,843334,386125,924

3.3970100

8,4229,6921,6414,8241,628

252,78879,194

684,9324,235

113,08773,02531,03472,84123,00419,446

11,44210,622

441821

9,6951,012536

1,267

5,0403,3761,664

9,5731,205,261239,85890,697

3.4764103

8,5466,8621,6483,8331,503

92,74628,997

578,2573,738

110,54472,11829,34377,10617,93319,547

10,6429,872

424770

9,498465

1,179

3,8402,5441,296

9,1421,323,615202,85978,387

3.265795

13,1487,6261,7773,7651,820

60,47518,335

734,0164,646

114, 76173,97931,47175,65021,98819,670

12,55711,654

540903

10,5861,291872

1,348

3,8392,6531,186

8,8901,113,002197,85478,340

3.246997

16,2447,8681,6813,6122,511

83,29623,544

879,8835,529

114,68474, 21431,07773,93422,99819,833

11,18210,294

494888

9,82161496

1,290

3,6362,3191,317

8,7861,109,352218,16384,640

3.3269

19,81819,726

9203,1331,943

100,23727,925

791,2214,974

111, 21972, 75229,25070,84822.97419,966

10,6679,832

451835

9,290667202

1,253

3,9812,5321,449

9,9531,214,817245,92496,662

3.246894

23,93332, 7461,2164,5002,897

115,91133,521

925,6945,621

116, 88374,58532,97573,40324,89120,107

11,96110,982

525980

9,8841,303896

1,399

4,6062,9021,704

10,5371,352,181308,644114,749

3.4769109

15,95818,7791,4164,8133,015

190,15058,916

766,2224,787

118,13275,59833,23875,39024,50220, 232

12,43011,473

510957

10,2981,359879

1,348

5,7293,6792,149

11,6681,462,121363,954133,979

3.1370106

12,4099,5021,5244,2684,362

327,550100,230

714,0124,389

119,93375,70934,78377,57624,04920,366

12,85011,830

5141,02010,6911,330873

1,354

6,0743,9572,117

11,4721,544,111380,990141,906

3.3066108

13,20317, 2771,6766,0024,878

578,071173,139

897, 6145,145

120,11375, 52435,07276,62625,00520,443

12, 72811, 731

498997

10,616637267

1,337

6,7164,5842,132

12,1541,822,217398,434147, 419

3.2964103

13, 49110, 739

8533,0835,673

1,029,648292,273

825, 8394,880

120,11674,85835, 54380,32922.12920, 535

12, 87511, 734

5511,14110,965

966513

1,386

6,6464,4182,229

12, 4721,842,858447, 316158,068

3.5668115

14, 61313, 718

7293,3595,734

1,112,293302,025

850,3485,074

119,22474, 23635, 26677, 93423, 32420, 657

12, 67411,616

4991,058

10, 7581,065568

1,264

6,0113,9782,033

12,1271,962,284455, 647158,151

3.5269109

11,32811,807

6123,9114,687

430, 608132, 359

797,4084,857

CHEMICALS AND ALLIED PRODUCTS

CHEMICALSAlcohol, denatured:

Consumption thous. of wine gaL.Production _ doStocks, end of month..„. do

Alcohol, ethyl:Production. thous. of proof gaL.Stocks, warehoused, end of month doWithdrawn for denaturing doWithdrawn, tax-paid _ do

Methanol:Exports, refined gallons..Price, refined, wholesale (N.Y.).dol. per gaL.Production:

Crude (wood distilled) thous. of gaL.Synthetic... do

Explosives, shipments... thous. of lb_.Sulphur production (quarterly):

Louisiana. long tons..Texas do....

Sulphuric acid (fertilizer manufacturers):Consumed in production of fertilizer

short tons..Price, wholesale, 66°, at works

dol. per short ton..Production short tons..Purchases:

From fertilizer manufacturers doFrom others do

Shipments:To fertilizer manufacturers doTo others _. _ do

Stocks, end of month do

FERTILIZERSConsumption, Southern States

thous. of short tons_.Exports, total§ long tons_.

Nitrogenous§ doPhosphate materials! doPrepared fertilizers... do

Imports, total§.._ doNitrogenous, total do

Nitrate of soda. doPhosphates . doPotashf. do

18,30218,185

740

36, 3937,143

32, 6042,555

.54

42,629

16.50

168

' 15, 56015,098'1,980

'23,59513,471

'25,557'2,360

162,302

4634,408

37, 740

169,878

16.50222,476

38, 36125, 518

48, 63565,817

105, 557

189148,135

15, 773111,936

1,00368, 20863,09034,8223,394

3

13, 54413,158

1, 586

23, 35410,02723,1102,969

191, 739.34

4684, 44034,444

179,677

16.50216,290

33, 22036,184

43,01457,475110,939

105116,41615,89188,409

42863,85256, 36228,478

6375,625

12,44112, 2151,360

23,7629,50322, 0562,128

267,077.34

4843,91333,461

103,675567, 698

178,193

16.50223,131

22,94132,732

36,37774,927100,246

182136, 58116, 486112,063

330'69,76950, 24527,718'3,234'7,911

10,49910,6101,468

24, 22411, 96319, 4341,742

14,283.34

4503,88236,080

184,149

16.50221, 788

32,57038,659

36,11681, 59191,407

518109, 6549,336

87, 698465

87,11581,08534,3322,1122,765

10,55810, 5561,465

22,03012,16619,0701,766

102,711

4353,61833,631

162,306

16.50226,069

26,34325, 650

37,31169, 514100, 338

76294,31611,03176, 333

49895,47492,20340, 254

3531,436

13,33913,1921,313

21, 70211,12723, 7052,735

94,467.34

4564,174

35,722

138,880547, 686

177,376

16.50234,026

25,30933,008

39,08278,09598,151

1,36590, 25510, 67474,162

686152,323134,29084, 337

1,08614,110

12,45112,6541,511

26,24811,33022,7892,449

61,831.34

4634,241

31,986

156,362

16.50218,846

23,21530, 922

53, 42967,38793,956

1,39074, 71516, 74849,481

1,580120, 330106, 73789, 565

3, 5511,891

14,88914,7141,329

29,60610,00026,5263,012

48, 580.34

4664,423

37,891

176,465

16.50217,063

39,14032,714

52, 53575,11778, 766

25881,971

6,01474,082

31799,67370,03642,134

1,1941,512

15, 61416,3871,095

32, 22410,39327,8303,224

16,668.39

4364,663

39,460

130, 060577,384

162,334

16.60208,884

29,36635,488

43, 31169,30477, 545

10466, 65111,68848, 265

2,31174,43962, 84027, 341

3038,307

15, 03515, 2421,293

33,0217,108

27, 5642,838

21, 605.44

4174,725

41, 273

175,186

16.50202, 597

24,41148, 587

33, 31969,28575,350

58164, 695

15, 675141, 557

20133, 63832, 59116, 350

253

15, 26415, 0651,089

34, 29910,11727, 327

3,071

7,545.44

4505,006

41, 363

163,108

16. 60212, 506

23, 05037, 331

37, 67075, 66471, 795

71295,885

17, 783270, 646

40769, 09667, 40632,148

45720 I

17,10016, 908

861

35, 7576,491

30,4333,435

9,340.44

43, 676

129,365

16.50

134136, 503

13,196105,919

2,879118,139108,759

67, 594780

5, 951

' Revised.rf Deficit. SData revised for 1930; for exports, see table 14, p. 17, and for imports, table 15, p. 18, of the April 1941 Survey.tRcvised series. Data for telegraph and cable carriers revised beginning 1934, see table 48, p. 16 of the November 1940 Survey.

S-22 SUEVEY OF CURRENT BUSINESS December 1941


1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary


tember

CHEMICALS AND ALLIED PRODUCTS—Continued

FERTILIZERS-Continued

Price, wholesale, nitrate of soda, 95 percent(N. Y.) dol. per cwt__

Potash deliveries short tons..Superphosphate (bulk):

Production do.Shipments to consumers do.Stocks, end of month do.

NAVAL STORESRosin, gum:

Price, wholesale "H" (Savannah), bulkfdol. per 1001b...

Receipts, net, 3 ports bbl. (5001b.)__Stocks, 3 ports, end of month do_

Turpentine, gum, spirits of:Price, wholesale (Savannah) dol. per gal..Receipts, net, 3 ports bbl. (50 gal.).Stocks, 3 ports, end of month do.

OILS, FATS, AND BYPRODUCTS

Animal, including fish oils (quarterly) :!Animal fats:

Consumption, factory thous. of lb_.Production doStocks, end of quarter . do

Greases:Consumption, factory doProduction doStocks, end of quarter do

Shortenings and compounds:Production .doStocks, end of quarter do

Fish oils:Consumption, factory... __doProduction doStocks, end of quarter do

Vegetable oils, total:Consumption, crude, factory (quarterly) !

mil. oflb_.Exports thous. of lb__Imports, total§ do

Paint oils doAll other vegetable oils§ do

Production (quarterly)! mil. of lb__Stocks, end of,quarter:!

Crude doRefined do

Copra:Consumption, factory (quarterly)! short tons.Imports doStocks, end of quarter! do

Coconut or copra oil:Consumption, factory:

Crude (quarterly)! thous. of lb._Refined (quarterly)! do

In oleomargarine doImports§ doProduction (quarterly): !

Crude doRefined do

Stocks, end of quarter:!Crude doRefined do

Cottonseed:Consumption (crush). . . thous. of short tons . .Receipts at mills doStocks at mills end of month do

Cottonseed cake and meal:Exports§ short tons . .Production doStocks at mills, end of month . . . d o

Cottonseed oil, crude:Production thous. of lb._Stocks, end of month. _ do

Cottonseed oil, refined:Consumption, factory (quarterly)! do

In oleomargarine doPrice, wholesale, summer, yellow, prime

(N. Y.) . . --dol . per lb._Production thous. of l b . .Stocks, end of month. . do

Flaxseed:Imports . - . thous . of bu._Minneapolis:

Receipts. . doShipments doStocks do

Duluth:Receipts doShipments doStocks. . do

Oil mills (quarterly):Consumption ! doStocks, end of quarter do

Price, wholesale, No. 1 (Mpls.).-dol. per bu_.Production (crop estimate) thous. of bu_.

» Less than 500 bushels.

1.503

2.4424, 526

372, 983

.7810, 94226, 389

1,2641,344

294, 821291, 815

208. 538133, 228

13,708

.129143, 761203, 544

1,777120

4,714

1,000481

1,937

1.87i 31,825

1.470-•46,432

404,46798, 210

1,201,715

1.6739, 820

528, 065

.358,364

44,961

13, 38364,4606,027

58,433

26,861

1,46436,157

'697' 1, 4061,040

140310,713129, 769

223,542148, 885

11,827

.054134, 645355,118

704

1,226234

7,363

517674

1,778

1.47

1.470'54, 544

398, 34145, 649

1,244,655

1.8735, 018

542, 091

.397,793

44, 488

7,29054,366

1,30053, 066

30, 584

1,66434, 412

644766

1,162

138286, 890153,465

205,192182, 533

10,908

.057158, 418400, 259

1,093

4526,232

5372,042

277

1.59

1.470'40,614

425,11843,192

1,285,408

1.7234, 098

561, 241

.386,986

40, 016

T 269, 625673, 126600, 602

98, 639126,613134,313

332,513r 53, 741

'51,823' 97, 451199, 462

r 1,0199,318

68, 3891,625

66, 764T1,183

'939570

69, 46827, 60634, 775

150, 411' 52, 381

1,52840, 224

87, 88373, 938

242, 973' 14,168

544657

1,276

185239, 375175, 700

174,151176, 626

328, 59313,107

.059168, 517458, 335

769

407251

5,410

61220118

10, 0837,0771.64

2 31,217

1.47051, 502

408,19255,997

1,264,881

1.7317, 906

560, 045

.423,027

35,421

8,75851,320

1,23950, 081

34, 294

1,28022,157

560361

1,076

91248,916215, 358

179, 475176, 425

13,450

.064179, 925484, 764

1,482

47671

4,739

16811

275

1.78

1.47035, 536

384, 548110, 438

1,202,767

1.6511,941

542, 446

.392,158

33,906

37, 27561, 097

43760, 660

16, 271

1,29632, 207

458225844

54201, 822252,947

147, 702176, 281

11, 626

.062145,105507, 248

1,285

414133

3,952

1591

434

1.75

1.47029,802

435, 675183, 560

1,074,842

1.789,996

523, 594

4,68223,682

291,452617, 500623,896

104,910120, 557130,401

355,69846,417

45, 54215,846

157, 223

1,'12, 68557, 6724,626

53, 0461,059

914637

69, 42320,19934,851

161,40561,1261,424

25, 831

86, 25180, 703

209,94015, 550

373147617

165, 520245, 634

122, 833167,195

350, 74713,142

.071123, 772505, 219

1,223

71874

3,620

159

593

10, 2284,1591.80

1.47024,477

397,497373, 846777,152

1.8719,337

505,860

.426,358

25,022

11, 24682,1354,536

77,599

18,672

1,38141,155

30591

403

31132, 635256,255

102,196128,451

12, g

130, 692475, 849

1,286

643139

2,743

193168619

1.93

1.47013, 232

419,411165,359770, 723

1.8735,635

490,186

.438,198

27,318

11,01759, 5595,466

54, 093

26,872

1,46828, 273

18551

21. S86

255,028

66, 27597,103

11,444

.10597, 773

422,443

1,177

721140

192416381

1.87

1.47058,228

373,864,813,741

1.8831,069

483,751

.4210,06431,978

337,010644,024684, 475

126,155127,989116,452

410,38245,967

54, 5546,271

123, 661

1,02711, 43753,0873,511

49,576762

660497

64, 55024, 94328,109

184,11868,904

1,43526,884

81,05490,962

176,38115,064

12142

190

11452, 409

225,744

42, 46152,541

402,72010,816

.11576,473

369,589

805185

1,885

165310236

3,5011.87

1.47041,094

383,49952,317

914, 302

2.1333, 706

461,157

.478,48236,617

1.47048, 882

379, 26765,150

978, 014

2.4529, 886

428, 945

.6710,06634, 339

4,72969, 6158,557

61,058

17,259

2,47430, 973

7718

131

135,197

165,966

26, 24229,742

11,413

.11848, 668

291,722

1,051

722161

1,107

219207247

7,18594, 7561,519

93, 237

25, 487

2,42146, 369

107105129

5346,186

131, 618

33, 77932,107

1.92

1.49439, 943

364, 505130,906

1,022,410

I

10,131

.11932, 828

234, 242

1,139

8,323297

3,864

348109485

2.4929, 282

419, 979

.7610,75536,669

338, 647585, 293504,968

121,155124, 006103, 068

327, 61550, 474

50, 01883,140

162, 659

7887,428

93, 2211,114

92,107723

700300

56, 40333, 76636, 413

187, 30273, 9833,574

44, 695

70, 44493, 710

186, 29016, 994

4191,040

749

102180, 929174, 385

129, 49979, 584

317, 27312, 525

I .13663, 536

178, 724

1,853

3,682412

4,773

1,252319

1,418

12,17512, 385

1.99

1 November 1 estimate.• Less than 500 bushels. 1 November 1 estimate. * December 1 estimatel§Data revised for 1939; for exports, see table 14, p. 17, and for imports, table 15, p. 18, of the April Survey.fRevised series. Wholesale price of gum rosin revised beginning 1919: see table 3, p. 17 of the January 1941 Survey.IRevisions for quarters of 1940 not shown above will be shown in a subsequent issue.



1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary


tember

CHEMICALS AND ALLIED PRODUCTS—Continued

OILS, FATS, AND BYPRODUCTS—Con.Linseed cake and meal:

Exports§ thous. of lb_.Shipments from Minneapolis do

Linseed oil:Consumption, factory (quarterly) 1 doPrice, wholesale (N. Y.) dol. per lb_.Production (quarterly) thous. of lb_.Shipments from M inneapolis doStocks at factory, end of quarter^ d o —

Oleomargarine:Consumption (tax-paid withdrawals)0.doPrice, wholesale, standard, uncolored (Chi-

cago) dol. per lb..Production® thous. of lb_.

Vegetable shortenings:Price, wholesale, tierces (Chi.).__dol. per lb_

PAINT SALESCalcimines, plastic and cold-water paints:

Calcimines thous. of doLPlastic paints do-._Cold-water paints:

In dry form doIn paste form do

Paint, varnish, lacquer, and fillers:Total do. . .

Classified, total __do_..Industrial do___Trade do. . .

Unclassified ___do--_CELLULOSE PLASTIC PRODUCTS

Nitro-cellulose, sheets, rods, and tubes:Consumption thous. of lb_Production _ do-._ShipmentscT . do. . .

Cellulose-acetate:Sheets, rods, and tubes:

Consumption thous. of lb_Production do._.Shipmentsd" do_._

Moulding composition:Production do_._Shipments % do_-.

ROOFINGAsphalt prepared roofing, shipments:

Total thous. of squares.Grit roll do. . .Shingles (all types) do. . .Smooth roll do. . .

37,400

.108

21,"350

33, 932

.14034,060

.156

' 1,77634,960

16, 600

29,489

.11530,160

21848

181302

37, 74827,34712, 59414, 75310,401

2471,0961,136

983944

1,9261,783

4,2541,1471,3701,737

28232,440

.086

13,250

30, 854

.11530,002

.087

14040

158273

30, 79522,81911,33611,4837,976

2071,0611,131

5934

1,037

1,6061,410

3,006888881

1,238

242,920

100, 338.088

192,18510,850153,804

31,118

.11532,457

15044

138259

27,32620,47210, 7859,6866,854

1831,1091,068

8867733

1,4351,317

2,163769570824

1,51244,400

.095

"i4,~350"

33,835

.11834,030

.094

35

146294

33,40824,60912,20612,4038,799

1851,1671,112

7617675

1,6321, 584

2,249888533828

3430, 760

.095

"I4~95O"

27,869

.12028,103

.094

18243

159279

32, 53824,01312,17711,8378,525

2301,1321,145

3344335

1,8791,642

2,515811690

1,014

227,800

106, 787.099

196, 28118, 900

192, 850

34, 328

.12533,880

.097

30143

202376

38, 54128, 24513,75214,49310, 296

2491,3081,233

10465373

2,2321,991

3,105801

1,0381,266

1,20130,680

.107

~2l,~666~

30, 579

.13032,179

.111

34255

266483

50,02935,16015, 24619,91414,869

2171,4201,267

12402408

2,2552,102

3,141806

1,2551,080

81320, 240

.108

"20,366

26,853

.13027, 693

.124

23360

513

56,05540,63616,33724,29915,419

2151,3721,315

14524472

2,3192,146

3,753987

1,5641,202

39222,360

143,100.108

183, 30921,050150, 936

25,583

.13325,083

.133

20253

262392

52,11237, 39516,68820, 70714, 717

2421,3871,475

18513523

2,4572,264

3,570981

1,4361,153

90729, 280

.113

~24~306"

25,909

.14027, 365

.143

246

46,80933, 70515,87217,83313,104

2291,3091,353

14507541

2,4672,346

4,0621,1781, 5491,334

91432,120

.112

~21~566

25,174

.14024, 803

.145

18357

224359

46,80733, 57515,86817,70713, 233

2431,4371,510

17573580

2,6702,506

3,9811,1571,5431,281

1,74045,840

141,913.114

236, 74421,900161, 255

33,095

.14033,124

. 153

19567

279462

48, 35433,98115,07117,91014, 373

2841,4791, 565

19585622

2,9912,813

4,1461,2271,5351,385

ELECTRIC POWER AND GAS

ELECTRIC POWERProduction, total* mil. of kw.-hr..

By source:Fuel ...doWater power _-do

By type of producer:Privately and municipally owned electric

utilities mil. of kw.-hr_.Other producers do

Sales to ultimate customers, totalf (EdisonElectric Institute) mil. of kw.-hr--

Residential or domestic doRural (distinct rural rates) doCommercial and industrial:

Small light and power doLarge light and power do

Street and highway lighting doOther public authorities doRailways and railroads doInterdepartmental do

Revenue from sales to ultimate customers!(Edison Electric Institute) thous. of doL-

GASManufactured gas: f

Customers, total thousands..Domestic. doHouse heating, doIndustrial and commercial do

Sales to consumers, total .mil. of cu. ft_.Domestic doHouse heating doIndustrial and commercial do

Revenue from sales to consumers, totalthous. of dol__

Domestic .doHouse heating doIndustrial and commercial ..do

15, 231

1,0274,205

13,6781,554

13, 055

9,3963,659

11, 7021,353

10, 3971,922

177

1,8865,445

189233488

58

206,983

10,1429,398

281453

30, 68217,3402,837

10, 316

31, 21322, 479

2,1506,464

12, 765

8,7314,034

11, 4621,303

10, 5772,093

131

1,9705,379

201237504

61

214,161

10,1159,367

292447

33,82415,6237,290

10,699

32, 58921, 569

4,1376,750

13, 456

9,0574,399

12,1191,337

10,8952,222

109

2,0345,448

21724855167

219,913

10,1569,394

304448

37,94615,89210,80111,000

34,90421,629

6,1366,992

13, 641

9,0544,587

12,3111,330

11,3822,396

130

2,1265,616

21525458065

228,159

10,1069,350

282465

37,95017,3129,608

10,791

35,15721, 988

6,1076,918

12, 293

8,3813,912

11,0271,266

10, 8012,195

123

2,0095,456

18525151963

217,629

10,1499,383

294463

38,04616,99710,09510, 704

35,16621, 247

6,7846,987

13, 095

8,7064,388

12,0611,034

10,8952,060

117

1,9245,750

17924855364

212, 603

10,1199,354

280473

38,02516,8669,453

11,457

34,48920, 851

6,4197,055

12,885

8,0514,834

11, 5751,309

210,078

10,1429,362

295473

35, 34716,2976,981

11, 857

32,65120,993

4,3997,111

13,616

9,3634,253

12,1051,511

10,8091,990

131

1,9275,821

160241485

54

11,0801,904

148

1,9146,194

146243482

50

209,707

10,4049,620

304468

32,66616,6154,256

11, 596

31,97422,398

2,5076,941

13, 671

9,6144,056

12,1731,498

11,3851,909

231

1,9806,385

13824046140

215,010

10, 2539,481

292469

30, 29016,8872,149

11, 085

30, 57322,174

1,6326,665

14,226

9,8384,388

12, 7421,484

11,6291,927

2,0456,474

140247472

41

217, 685

10,2849,522

283468

27, 67215, 5101,341

10,628

28, 26020,697

1,0786,392

14, 540

10, 6103,930

13,0371,503

12,0811,969

329

2,1316,724

15425947340

223, 561

'14,348

' 10, 351'3,997

12,874'1 ,473

r Revised. ^Revisions for quarters of 1940 not shown above will be shown in a subsequent issue.§Data revised for 1939; see table 14, p. 17, of the April 1941 Survey. ©Data revised beginning July 1939, see note marked with a " i " on p. 40 of the April 1941 Surveycf Includes consumption in reporting company plants. {Excludes consumption in reporting company plants.•Monthly data for 1920-39, corresponding to averages shown on p. 97 of the 1940 Supplement, appear in table 28, pp. 17 and 18 of the December 1940 Survey; revised

data for all months of 1940 are shown on p. 41 of the June 1941 Survey.fRevised series. Manufactured gas revised beginning January 1929; earlier data will appear in a subsequent issue. Revised electric-power sales and revenue from sales

beginning 1937 will be shown in a subsequent issue.



1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary


tember

ELECTRIC POWER AND GAS—Continued

GAS—Continued

Natural gas:fCustomers, total. _ ..thousands.

Domestic doIndustrial and commercial do. . .

Sales to consumers, total mil. of cu. ft.Domestic . do. . .Ind'l, com'l, and elec. generation do. . .

Revenue from sales to consumers, totalthous. of dol.

Domestic do. . .Ind'l, com'l, and elec. generation .do. . .

7,6367,080

554110, 38922, 30686,184

33, 70016, 72016, 747

7,7557,158

594126, 38934, 04790, 342

41, 61822,97718, 373

7,8047,194

608147,07149. 51595, 516

51, 83830,97520, 583

7,7647,170

591151, 96354, 97395,184

56,46434,88521, 321

7,7737,182

589157, 61156, 91498,440

57, 35635,08621, 920

7,8247,223

599156, 23054, 88785, 084

56, 23233,90721, 960

7,8107,216

592141,48043, 69096, 716

48,91128, 32820,424

7,8297,250

576120, 55828,97189, 459

39, 03020,64918,101

7,8027,252

548110, 98321,12487,481

33, 76116,37217,113

7,8487,293

552110, 69418,35790,226

32, 02514,50417,174

FOODSTUFFS AND TOBACCO

ALCOHOLIC BEVERAGES

Fermented malt liquors:Production thous. of bbl.Tax-paid withdrawals. doStocks . . . . . . . do . . .

Distilled spirits:Production thous. of tax gal..Tax-paid withdrawals do~..Imports __thous. of proof gal..Stocks -thous. of tax gal..

Whisky:Production d o —Tax-paid withdrawals doImports thous. of proof gal..Stocks thous. of tax gaL.

Rectified spirits and wines, production, totalthous. of proof gaL.

Whisky . do... .Indicated consumption for beverage purposes:

All spirits _.thous. of proof gal...Whisky do.. . .

Still wines:Production thous. of wine gaL.Tax-paid withdrawals do —Imports d o —Stocks . .do. . . .

Sparkling wines:Production . . . . d o —Tax-paid withdrawals.. . . .do . . . .Imports d o —Stocks . _do....

DAIRY PRODUCTSButter:

Consumption, apparent! thous. of lb-.Price, wholesale, 92-score (N. Y.).dol. per lb-.Production, creamery (factory)t-thous. of lb-.Receipts, 5 markets d o —Stocks, cold storage, creamery, end of month

thous. of lb_.

Consumption, apparentf . . _ _ doImports§ doPrice, wholesale, No. 1 American (N. Y.)

dol. per lb-_Production, total (factory)t thous. oflb._

American whole milkf doReceipts, 5 markets doStocks, cold storage, end of month do

American whole milk doCondensed and .evaporated milk:

Exports:§Condensed (sweetened) doE vaporated (unsweetened) do

Prices, wholesale (N. Y.):Condensed (sweetened) dol. per case-.E vaporated (unsweetened) do

Production, case goods:tCondensed (sweetened) thous. of lb-_E vaporated (unsweetened) do —

Stocks, manufacturers', case goods, end of mo.:Condensed (sweetened) thous. oflb._E vaporated (unsweetened) do

Fluid milk:Consumption in oleomargarine doPrice dealers', standard grade dol. per 100 lb-_Production (Minneapolis and St. Paul)

thous. of lb_.Receipts:

Boston thous. of qt_.Greater New York do

Powdered milk:Exports thous. of lb-.Production! do-_-Stocks, manufacturers', end of month. _do

4,9894,9208,207

30,66710, 505

555, 462

13,8347,602

504,041

6,3305,167

.36136,40553,025

186,263

.2678,30062,24015, 784

188,916158,044

5.403.85

7,999269,320

11,245382, 605

6,0492.60

27,159

21, 802

23,73521, 440

' 3,976r 4,260' 7,852

-22.071r 11, 480

1,084518,672

- 10,435'8 ,965

930476, 300

' 6,117«• 5,358

' 14, 511' 13, 063

105, 6478,781

251170,183

548454

643

159,559.30

136,75953,377

105,106

' 70, 5322,093

.17' 62, 904' 47, 759

17, 501143, 633123,953

5,3874,572

5.003.10

r 7,920172,641

9,115358,224

5, 5452.20

27, 925

20, 928128, 611

1, 966r 33,120

41,032

' 3, 3973,7657,325

' 17,825' 13, 134

1,2401516,376

' 11,908' 10.490

1,096473,774

' 6, 765' 5,863

16, 85615, 231

35, 60210, 273

216172, 258

7312536

589

' 154, 951.33

117,72245, 580

67, 598

r 59,7212,261

.18r 50,695' 35,945

14, 648136, 574118, 516

4,3476,034

5.003.10

r 6, 349134,254

8,543226, 266

5, 5452.21

28, 784

20, 397125, 242

4,390' 27,492

36, 037

r 3, 612' 3, 779r 6, 994

' 15, 760r 8, 950

1,386' 522,723

•" 12, 316' 7, 323

1,270479,102

' 4, 593' 3, 769

12, 29310,894

10,14710, 213

257163, 774

8216245

492

152,795.35

126, 58849,659

41,497

r 60,0562,073

.19' 50.345' 35,160

12,913128,699112,237

3,2944,434

5.003.20

r 6, 384' 148,607

8,047187,652

6, 0332.24

35, 951

20, 255127, 792

1,961'31,616

34,175

r 3, 903r 3, 240' 7, 487

«- 15,702' 6, 040

576530,863

r 13, 220' 5,017

510486,132

r 3, 119' 2, 535

8, 0567.068

2,0826,682

120157, 724

623910

512

148,186.31

136,45056, 582

29, 715

55,2191,922

.1850,10036,35011,894

125, 308109,820

3,6374,162

5.003.20

6,998171,609

7,810189, 246

6,2272.26

40, 605

20, 348128,272

1.39026, 37533, 351

•• 3, 697r 3,218' 7,801

r 15,135' 6,963

630536,917

12, 658' 5,823

568491,301

' 3, 387r 2, 838

9,1168,108

1,6676,983

107156, 038

6334

7539

143,902.31

130,82553,126

16,462

57,0352,290

.17'49,100f 35,695? 10,894119,381105,153

4,2357,178

5.003.20

6,511167, 046

7,274176, 624

5,348

39, 248

18, 754115,883

1,77025, 77035,927

' 4, 466' 3, 814r 8, 262

' 15, 514' 8,450

879541,931

' 12, 643' 6, 619

812495, 735

'4 .211' 3, 380

11, 3459,547

8637,828

141143, 256

50356

551

157,104.32

149,69059, 565

8,983

71, 2641,544

.1760,50044,63515,122

109,89397,496

5,0208,743

5.003.20

9,414203, 624

7,340136, 073

6,4142.26

44, 972

21, 598131, 556

1,41532,47536,831

' 5,170' 4, 557T 8, 645

' 14, 726' 8, 027

1,052•547,018

11,860' 6,147

991500,097

' 4, 399' 3,417

10. 9099,209

1,723

134135, 410

14039

7647

154,601.33

163, 53562, 342

17, 795

75,9811,871

.1972,80054.12015,166

108, 33594,602

7,8227,773

5.003.23

9,433258, 014

7,228126,160

6, 0162.27

44, 477

21, 353127, 288

1,63137, 28236, 036

' 5. 844r 5,385' 8, 848

' 14, 7329,7221,535

549,979

' 12, 025r 7, 531

1,448503,040

r 5,195r 4,224

13, 50011, 632

1,3657,124

158128, 204

151527

744

176, 784.36

215,57074, 366

56, 792

84,0442,114

.2199,70076,66516,139

119, 718102,869

8,29219, 366

5.003.43

10, 258353, 761

10, 327173,838

5,1012.27

49, 501

22,480132, 704

2,27749, 21236. 676

' 6,126' 5,678' 9,038

' 12, 521' 9, 281

860•551,424

r 9, 560' 7, 210

788•504,081

r 5, 393' 4, 348

12, 68610, 726

1,6367,842

125117,893

119596

794

150,831.36

214,27578,217

120, 246

66, 2791,437

.22101, 60083,14521, 551

142, 369121,064

7,33343, 383

5.403.45

9,804334,168

10,009189, 711

4,6272.29

42, 475

22,179132, 294

7,00543, 86737, 231

6,5546,2689,026

11, 0758,992

727551,435

7,7646,606

653503,567

5,4154,321

12, 24810,084

2,6637,580

169111,570

95615

811

138,260.35

1196,68573,993

178,493

54,8302,094

.2492,80074,95022, 212

168,420139,568

7,11160,153

5.483.60

9,640299, 599

9,783261, 559

4,9192.32

35,932

22,769131,958

6,33635,23134,108

5,9136,0558,605

9,88110, 092

855549,275

6,5717,104

777501, 587

5,7894,807

13,02811,017

9,3757,018

90106,377

68714

817

149,480.36

171, 28060, 942

200,228

r 64,0861,758

.2485,10068,46515,634

184,840151,906

8,86540,687

5.803.70

9,619293, 359

10,494289,904

4,5822.40

30,658

22,027127,050

2,76030,05931, 705

5,2915,2408,384

21,20111,9691,549

547,. 678

9,4249,2121,423

' 499,503

5,8714,715

15, 54913,561

132

11

147,007.37

149,71555, 666

' 202,957

65, 9651,464

.2681, 70066.03518,097

' 188.337r 156.74K

6, 30045, 875

5. 563.85

8,010278,684

10,062339, 710

6,0442.49

25, 972

21, S95132, 725

4,155r 27, 345' 26, 975

' Revised. §Data for 1939 revised; for exports, see table 14, p . 17, and for imports, table 15, p . 18, of the April 1941 Survey.fData on natural gas revised beginning 1929; earlier data will appear in a subsequent issue. Data for the indicated series on dairy products revised for 1939 and 1940; for

revised 1939 data on production of condensed and evaporated milk, see note marked " t " on p . 42 of the January 1941 Survey; revised 1939 data for bu t te r and cheese productionand consumption, superseding figures shown in the January 1941 Survey, appear in table 26, p . 26 of the September 1941 Survey. Revisions for 1940 are as follows: But te rconsumption—Jan., 155,831; Feb. , 138,585; Mar. , 150,058; Apr., 152,924; May, 179,307; June, 150,780; Ju ly 144,793; Aug., 156,860; Sept., 152,223. But te r production—Jan., 129,721;Feb. , 127,845; Mar. , 140,702; Apr. , 153,601; May , 195,308; June, 206,531; July, 187,603; Aug., 167,667; Sept., 146,209. Cheese consumption—Jan., 62,128; Feb. , 60,880; Mar . , 67,657;Apr., 64,306; May, 80,608; June, 71,732; July , 62,336; Aug., 65,428; Sept., 68,290. Total production of cheese—Jan., 44,652; Feb. , 46, 348; Mar. , 56,503; Apr., 63,893; May , 85,886;June , 95,576; July, 84,504; Aug., 74,529; Sept., 67,979. American cheese production—Jan., 32,246; Feb., 33,919; Mar. , 41,674; Apr., 48,963; May , 67,485; June, 77,143; July , 68,120;Aug., 59,535; Sept., 53,265. Condensed milk production—Jan., 2,777; Feb. , 3,401; Mar. , 3,452; Apr., 2,896; May, 4,756; June, 6,129; Ju ly 6,939; Aug., 6,198; Sept., 6,626. Evapor-ated milk production—Jan., 158,221; Feb. , 171,137; Mar. , 201,296; Apr., 225,619; May, 273,838; June, 293,219; July, 259,235; Aug., 230,391; Sept., 198,809. Powdered milk produc-tion—Jan., 35.426; Feb. , 34,518; Mar. , 42,429; Apr., 46,749; May, 55, 943; June, 58,242; July, 44,799; Aug., 38,566; Sept., 32,842.



1941

October

1940 1941

October | Decem-ber

Janu-ary

; Febru*I ary March April May June July I August

iFOODSTUFFS AND TOBACCO—Continued

FRUITS AND VEGETABLESApples:

Production (crop estimate)^ thous. of bu__Shipments, carlot no. of carloads..Stocks, cold storage, end of mo.-thous. of bu_.

Citrus fruits, carlot shipments..no. of carloads..Onions, carlot shipments. „ ..doPotatoes, white:

Price, wholesale (N. Y.) dol. per 100 Re-production (crop estimate)....-thous. of bu,_Shipments, carlot no. of carloads..

GRAINS AND GRAIN PRODUCTSExports, principal grains, including flour and

meal§ -thous. of bu._Barley:

Exports, including malt§™_ doPrices, wholesale (Minneapolis):

No. 2, malting „ dol. per bu_.No. 3, straight do

Production (crop estimate) thous. of bu._Receipts, principal markets _.-_doStocks, commercial, end of mo _.__do.

Oorn:Exports, including meal§ __.,. do.Ormdings do.Prices, wholesale:

No. 3, yellow (Chicago)t dol. per bu._No. 3, white (Chicago) doWeighted avg., 5 markets, all grades..do

Production (crop estimate) thous. of bu._Receipts, principal markets.. doShipments, principal markets . doStocks, commercial, end of month do , . . .

Oats:Exports, including oatmeal § doPrice, wholesale, No. 3, white (Chicago)

dol. per bu._Production (crop estimate) thous. of buReceipts, principal markets __.do._Stocks, commercial, end of month do—.

Rice:Exports§. pockets (100 lb.)._Imports _ doPrice, wholesale, head, clean (New Orleans)

dol. per lb...Production (crop estimate) thous. of bu._Southern States (La., Tex., Ark., and Tenn.):

Receipts, rough, at millsthous. of bbl. (1621b.)-

Shipments from mills, milled ricethous. of pockets (100 lb.)..

Stocks, domestic, rough and cleaned (interms of cleaned rice), end of month

thous. of pockets (100 lb.)~California:

Receipts, domestic, rough...bags (100 lb.)_.Shipment from mills, milled rice doStocks, rough and cleaned (in terms of

cleaned rice), end of mo..bags (100 lb.)..Rye:

Exports, including flour thous. of bu._Price, wholesale, No. 2 (Mpls.)--dol. per bu..Production (crop estimate) thous. of bu..Receipts, principal markets doStocks, commercial, end of month do

Wheat:Disappearance . do—..Exports, wheat, including flour§ .. .do

Wheat only§ doPrices, wholesale:

No. 1, Dark Northern Spring (Minneapolis)dol. per bu._

No. 2, Red Winter (St. Louis) d o —No. 2, Hard Winter (K. C.) doWeighted av., 6 markets, all grades..do

Production (crop est.), total thous. of bu..Spring wheat . . . .doWinter wheat do

Shipments, principal markets doStocks, end of month:

Canada (Canadian wheat) doUnited States, total. do

Commercial doCountry mills and elevators doMerchant mills... doOn farms... ..... do

Wheat flour:Disappearance (Rus'l-Pearsall).thous. of bbl-_Exports§ doGrindings of wheat thous. of bu..Prices, wholesale:

Standard patents (Mpls.) dol. per bbl_.Winter, straights (Kansas City) .do

Production:Flour, actual (Census) thous. of bbl-_

Operations, percent of capacityFlour (Russell-Pearsall) thous. of bbl._Offal (Census) thous. of lb._

Stocks, total, end of month (Russell-Pearsall)thous. of bbl. _

Held by mills (Census) do

«9,256

.70

.75

.6712,675,373

24,04117,09940,135

4411,138,843

6,72011, 562

126,12110,81130,77210,3163,506

1,944376,701

16, 515

.53351, 522

9,1167,757

.043155,128

2,191

1,278

1,683

263,460131,856

354,827

.60146,462

2,60317, 504

1.101.131.121.02

i 961,194" 276,2281684,966

16,394

476,307

280," 588"

5.75

10, 553

6,000

' 31,77311,8032,981

1.445

17,996

10,141

122

.48

.45

6,62811,371

5,5127,533

.64

37,60918,66059,314

74

.34

4,2387,093

245,88121, 221

.033

2,896

1,558

2,667

376,624126,523

491,976

2.48

1,4678,112

4,4311,293

.90

.82

.85

15,284

409,354

176," 390"

9,117668

45,319

4.624.01

9,96062.6

9,535785,828

5,750

5,77034,08613,478

1,811

1.350

12,630

5,210

104

.52

.50

a 115,4564,367

28,65616, 5981,386

1.4202 397,722

7,1179,682

9506,385

.63

11,576

2,559

173

.52

.51a 309,235

21,60812,19065,489

87

.38

,7,8779,640

1036,633

.62

.67

.5822,449,200

4,0316,688

347, 58023,675

.034

20,71010,43370,067

75

.3821,235,628

2,380

1,414

3,746

203,870167,276

429,129

(4).50

1,0787,658

549

.92

.85

.87

16, 210

415,707

166,587

9,889749

39, 707

4.664.24

8,73759.1

10,713687, 760

5,825

5,3376,592

358,18516, 228

.0352 52, 754

1,519

'1 ,300

' 4,084

289,627211,149

380,200

2.50

2 40, 601713

6,640

149,6492,206

301

.91

.83

.852 816,6982 227, 5472 589,151

9,652

440,293725,128169,776165,167106,303283, 882

9,022405

37,078

4.524.16

8,16655.6

9,495639,306

5,7004,409

4,21923,01420,050

1,867

1.481

17,552

2,812

109

.54

.53

6,4968,195

7868,079

.64

.69

.59

16,4339,050

70,278

53

.38

3,5435,664

350,9088,421

.039

1,288

1,431

' 4,035

264,78381,855

431,886

(4).53

6,223

~i,~864~

.90

.92

.85

10,025

445,153

161," 088"

9,061387

40,000

4.704.09

8,81858.0

9,248690, 728

5,500

4,28417,07015,6041,569

1.531

17,676

3,279

166

.50

.51

6,3577,335

5587,219

.62

.66

.58

13,8627,091

70,142

70

.373,0504,745

423,1167,933

.040

763

1,135

3,699

342, 635226,943

378,074

(4).50

3375,462

2,48456

8,085

442,408

Io2,~598'

8,063517

36, 575

4.543.58

8,06360.38,505

630,124

5,425

4,21810, 52918, 5411,763

1.488

25,762

4,244

162

.51

.51

6,5106,561

408,811

.70

.62

18,6289,280

71, 290

274

.39

4,5674,077

377,8947,282

.042

722

1,182

3,307

447,277213,216

378,179

(4).52

7925,269

179,5543,7681,998

.90

.90

.85

9,432

438,973545,574141,897131, 24776,675

195,755

37739,792

4.853.71

8,76457.9

9,043686,551

5,9003,923

2,7205,999

16,937920

1.590

18.442

5,291

123

.55

.52

5,4425,157

1759,549

.72

.67

17,40314,01265,463

138

4,5394,473

440, 03017,970

.048

415

1,131

2,675

468,937209, 425

400,577

(4).57

9614,951

4,8551,246

11,716

439,533

139,119

8,531768

40,899

5.013.93

9,00259.5

9,374706,944

5,225

2,7182,316

19,8692,762

1.700

22,655

5,983

263

.58

.54

9,5984,726

1,0169,194

.72

.78

.69

24,84622,13360,959

131

.37

3,8544,571

382,98123,168

.049

171

837

2,050

538,282395,017

290, 223

(4).58

3,2825,486

4,5721,414

17,114

428, 235

139, 513

8,843672

39,045

5.324.32

8,59656.8

9,470675,411

5,250

9360

14,9562,089

2.363

19,546

3,330

232

.57

.52

7,8384,931

2959,421

.74

.82

.71

19, 24419,09853,106

92

.37

3,3963,906

320,9399,173

.048

703

1,457

306, 280112,137

294,262

).57

2,4905,639

'158,9682,711106

1.011.02

.97

26, 611

429, 565408,115151,89673,24093,88289,097

8,386554

38, 819

V424.77

8,55258.9

9,090669,141

5,4004,001

6760

12, 2191,013

1,970

13,820

4. 042

178

.51

.45

6,0285,471

1, 3708. 736

.74

.85

.71

22,12322, 71243,* 701

82

.36

10,5757,328

212,49725, 095

.047

72

463

245, 55573, 348

316, 791

.55

3,75811,077

2.41330

1.001.03

30,987

432, 504

246, 702

9,765507

40, 625

5.425.06

8,91859.3

10,332703, 201

5,450

010,307

1,671

1,806

8/273"

5,037

574

. 5 5 I

. 5 1 i

Sep-tember

5,058'10,351

6,9533,679

1, 845

10, 4685,514

1,2119,514

.75

.84

.74

18, 77615,12440,090

113

.37

14,60711,771

262,09623,418

.044

312

548

861

294,81576,762

374, 789

2.62

6,94414,637

3.137'769

1.06a . 08

1.071.05

17, 637

438,088

274," 606"

8,293504

39,123

5.765.36

8,59257,2

9,047674,351

5,700

11,087

9,116

284

.69

.60

14, 1116,977

2,8349,676

.75

.81

.73

27.49620,55539,137

224

.46

10,41413,427

224,7094,709

.041

650

822

712

114,05970,463

334,340

8.68

4,94417,243

191,6795,7673,771

1.141.161.141.12

14,086

452,0181,156,121284,920223,975154,902492,324

10, 545424

43,247

6.005.63

9,49565.8

11,170745,899

5,9004, 586

r Revised. * November 1 estimate. 2 December 1 estimate. 3 No quotation.< Less than 500 bushels. 8 For domestic consumption only, excluding grindings for export. §Data for 1939 revised; see table 14, p. 17 of the April 1941 Survey.^Production in "commercial areas." Some quantities unharvested on account of market conditions are included.tFor monthly data beginning 1913, corresponding to monthly averages shown on p. 105 of the 1940 Supplement, see table 20, p. 18 of the April 1940 Survey.



1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary


tember

FOODSTUFFS AND TOBACCO—Continued

LIVESTOCKCattle and calves:

Receipts, principal markets, thous. of animals..Disposition:

Local slaughter d o —Shipments, total . . d o —

Stocker and feeder doPrices, wholesale (Chicago):

Beef steers dol. per 100 lbSteers, corn fed do..-.Calves, vealers _ d o —

Hogs:Receipts, principal markets, thous. of animals..Disposition:

Local slaughter - doShipments, total .do

Stocker and feeder .._ . d o —Prices:

Wholesale, heavy (Chi.) dol. per 100 lb..Hog-corn ratio

bu. of corn per cwt. of live hogs .Sheep and lambs:

Receipts, principal markets, thous. of animals..Disposition:

Local slaughter . d o —Shipments, total do —

Stocker and feeder d o —Prices, wholesale (Chicago):

Ewes. dol. per 100 lb..Lambs -do—

MEATSTotal meats:

Consumption, apparent mil. of lb-_Exports§ - ---doProduction (inspected slaughter) doStocks, cold storage, end of month .do

Miscellaneous meats doBeef and veal:

Consumption, apparent _thous. of lb_.Exports§ ---doPrice, wholesale, beef, fresh, native steers

(Chicago) .- dol. perlb. .Production (inspected slaughter).thous. of lb. .Stocks, beef, cold storage, end of mo d o —

Lamb and mutton:Consumption, apparent d o —Production (inspected slaughter) d o —Stocks, cold storasre, end of month d o —

Pork (including lard):Consumption, apparent doExports, total.. do . . . .

Lard doPrices, wholesale:

Hams, smoked (Chicago) dol. perlb. .Lard, in tierces:

Prime, contract (N. Y.) doRefined (Chicago)___ do

Production (inspected slaughter), totalthous. of lbu.

Lardf-- - doStocks, cold storage, end of month do

Fresh and cured... ..doLardJ- do

POULTRY AND EGGSPoultry:

Receipts, 5 markets ...thous. of lb. .Stocks, cold storage, end of month do

Eggs:Receipts, 5 markets thous. of cases..Stocks, cold storage, end of month:

Shell thous. of cases..Frozen _ thous. of lb. .

TROPICAL PRODUCTSCocoa:

Imports!. - long tons..Price, spot, Accra (N. Y.) dol. perlb. .

Coffee:Clearances from Brazil, total- _thous. of bags..

To United States doImports into United States§ doPrice, wholesale, Rio No. 7 (N. Y.)

dol. per lb_.Visible supply, United States-.thous. of bags..

Sugar:Raw sugar:

Cuban stocks, end of monththous. of Spanish tons..

United States:Meltings, 8 ports long tons..Price, wholesale, 96° centrifugal (N. Y.)

dol. perlb, .Receipts: From Hawaii and Puerto Rico

long tons..Imports, total§.— do

From Cuba doFrom Philippine Islands. do

Stocks at refineries, end of month, .do. . . ,

2,453

1,2091, 196

11.5511.4413. 38

2,542

1,90561642

10. 71

15.5

2,833

1,0181,820

5235.22

10.63

1,43564963

.173642, 731

90, 336

67,2064,759

.272

.104

.121

725,158127,469491,212313,962177,250

49,351128,071

3,857153,622

.0820

706624

.0911,580

789

404,252

.035

355, 071

2,427

1,1101,324

11.8712.0910.97

3,113

2,37173042

6.41

2,737

1,0851,669890

4.01

1,36517

1,34963253

524. 7361, 508

.186532.16548, 245

69,16569, 6183,817

771,48614,03310,198

.183

.052

.068

747, 045114,789526,878303, 712223.166

44, 248114, 257

727

4,144111,815

30,053.0452

1,050912

1,247

.051997

1,473

303, 215

.028

127,822145, 04273,15571, 884

315, 501

977892496

12.0612.2110.50

3,595

2,68290547

6.24

9.9

1,776

908883320

4.03

1,28917

1,442788

463, 3551,609

.190483,04571, 508

58, 70559, 3324,427

766, 54813, 55510, 228

.183

.053

.069

899, 321145, 387646, 492408,900237, 592

89, 802159,110

682

1,96991, 273

30,082.0489

1,094896

1,386

.052

1,216

350, 401

.029

136, 764175, 54891, 44279,097

295, 661

1,604

976624290

11.8512.6110.58

3,787

2,82396040

6.42

10.3

1,597

917688154

4.109.06

1,20018

1,5501,164102

439, 0481,181

.193469, 265106, 990

58,31459, 0265,119

702,97215,03412, 302

.183

1,02],219181,917950, 238656,169294, 069

88, 005208, 365

734

61473, 326

40, 548.0534

1,3061,1491,605

.0531,157

1,181

305, 978

.029

118, 252113,18651,60745, 955

277, 946

1,600

964623266

11.9013.0811.94

3,039

2,148881

58

7.69

13.0

1,721997718148

5.229.78

1,25018

1,3561,258

502, 7711,003

.193496,850108, 622

70,32769, 9364,699

677, 36515,94113, 666

.200

.057

.075

788,844138,8361,046,817739, 927306, 890

27, 933191, 410

1,065

29753, 828

33, 795.0520

1,4551,2142,010

.0531,300

1,037

307, 619

.029

34, 554236,098148,93883,458276,034

1,313

475220

11.2712.5512.50

2,513

1,81769648

7.60

12.8

1,416

850568128

5.6310.09

1,06921

1,1391,310

89

429,1951,079

.180410, 82198,444

60, 99160, 8004,448

579, 23017, 60314, 830

.218

.062

.075

666, 956117,7141,118,552791, 910326, 642

19,159163, 321

1,110

30745, 239

27, 615.0578

1,136975

2,260

.057

1,258

323, 430

.030

95, 057276,810164,919106, 397296, 796

1,503

923544251

10.8112.4611.28

2,649

1,94170048

7.53

12.4

1,520

890632131

6.2710.29

1,22130

1,2161,282

464, 9201,512

.170449,09890,373

62, 35562, 3284,378

693, 90926, 74724, 329

.218

.070

.081

704,487130, 0291,104,072785, 387318,685

19, 324126, 904

1,520

1,09063, 428

32, 218.0718

1,5761,4282,012

.0631,709

2,421

415, 675

.033

143, 375278,863222,17954, 357312,053

1, 593

955637302

10.6712.3111.34

2,610

1,98162354

8.42

12.9

1,618

972648113

6.75

1,18628

1,2151, 294

80

486.0311,548

.170473, 36485, 563

61, 83362, 2144,718

637,89125, 30522, 375

.238

.083

.097

679, 746125, 7461,123,574795,876327, 698

19, 863101,129

2,073

3,03199, 531

31, 304.0731

1,110945

2,135

.068

2,460

442, 264

.034

180, 098380,881266,67585,001460, 549

1, 647

1,013624282

10.2311.9711.34

2,564

1,97458753

8.97

12.4

1,928

1,079853154

4.8110. 44

1,28618

1,3271,329

77

558, 7831,195

.175538, 54276, 231

65, 30164, 7524,130

662,12314, 21310, 697

.248

.095

.106

723, 277139,7141,172,305798,455373. 850

30. 35387, 433

1,972

5,375142, 065

36, 028.0795

1,141968

1,731

.0752,151

2,195

426,159

.034

191,473322,567199,483117,032608, 701

1,624

1,025574228

10.6211.8811.13

2,305

1,70758251

9.88

13.1

1,779

933834150

4.1011.13

1,23967

1,1901,233

75

525, 989978

.175512,11268, 442

54,91554,4583,638

658, 54951,43920,101

.256

.101

.112

623,078115, 7191,086,399703,893382, 506

28,18885, 573

1,508

6,427178, 594

34, 395.0799

627513

1,215

.0822,224

1,942

405,219

.035

195,169239, 305147,70578, 326

654,105

1,697

1,079605235

11.2412. 0111.94

2,036

1,47356054

10.94

14.7

],885

971924241

4.4110. 75

1,275106

1,2221,102

73

569,0545,473

.171565,04165, 708

62, 23861,8533,211

643, 73080, 00553,819

.275

.104

.114

594, 970108,395959,146618,866340, 280

28, 72381,206

1,337

6,641195, 097

25, 218.0782

454296591

.0872,064

1,654

.402,948

.035

166,355211,202127,86463,673

653,041

1,032680328

11.7311.93 |J2.38 !

2, 200

1, 198950514

11.7311.7113.50

1,895 i 2,004

1,36152943

10.88

14.8

2,023 !

9221,104

377

4.8410.88

1.48*.504

:•??

11. 42

15. 7

2, 465

1,0041,406

592

5. 1410. OK

1.290 \91 I

1,168 :

563. 9864,029

1,29297

1. 178r 730

592. \m3, 181

.176 I .176557, 536 | 580, 536

67,489 ! r 73, 366

60, 24460,3643,306

62, 27fi'•>3, 094- 4,093

665, 384 637,39570, 508 97, 28544, 634 46, 970

.285 !

.103 !

.118 |

549, 83698, 086

773,182485,108288, 074

.111

. 128

534, 50392,231

589,322371,362217,960

33,368 i 35,22085,363 I '•96,701

833

6,131 ' 5, 441194,006 |M78,438

16,841 | 24,257.0787

518376444

.0931,879

1,422

417,387

.037

136, 027210,190143,19816, 769

506,133

.0814

847744

. 094,780

1,149

459, 297

.036

126,173167, 040110, 46813, 072

398, 901

' Revised. §Data for exports and imports revised for 1939; see table 14, p. 17, and table 15, p. 18, respectively, of the April 1941 Survey.fRevised series; revisions beginning January 1937 appear in table 8, p. 18, of the January 1941 Survey; see also note marked " V which applies to both production

and stocks.Ilncludes fats rendered from hog carcasses now reported as "lard" and "rendered pork fat." Figures are comparable with data reported prior to November 1940.



1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary


tember

FOODSTUFFS AND TOBACCO—Continued

TROPICAL PRODUCTS—Continued

Sugar—Continued.Refined sugar (United States):

Exports long tons..Price, retail, gran. (N. Y.) dol. per lb_.Price, wholesale, gran. (N. Y.) doReceipts:

From Hawaii and Puerto Rico-long tons..Imports, total do

From Cuba doFrom Philippine Islands _do

Tea, imports ...thous. of lb_.

MISCELLANEOUS FOOD PRODUCTS

Candy, sales by manufacturers..-thous. of dol.-Fish:

Landings, fresh fish, prin. portS-thous. of lb_.Salmon, canned, shipments cases.-Stocks, cold storage, 15th of mo.-thous. of lb_.

Gelatin, edible:Monthly report for 7 companies:

Production _doShipments .. .doStocks do

Quarterly report for 11 companies:Production doStocks. do

Leaf:TOBACCO

Exports, incl. scrap and stems§..thous. of lb._Imports, incl. scrap and stems§__ doProduction (crop estimate) mil. oflb._Stocks, dealers and manufacturers, total, end

of quarter mil. of lb._Domestic:

Cigar leaf doFire-cured and dark air-cured doFlue cured and light air-cured doMiscellaneous domestic do

Foreign grown:Cigar leaf do.___Cigarette tobacco . do

Manufactured products:Consumption (tax-paid withdrawals):

Small cigarettes millions..Large cigars. ._ -.-thousands..Mfd. tobacco and snuff thous. of lb-_

Kxports, cigarettes! thousands..Prices, wholesale (list price, destination):

Cigarettes, composite price..dol. per l,000_-Cigars, composite price do

Production, manufactured tobacco:Total thous. oflb..

Fine cut chewing _ doPlug --_do-__-Scrap chewing doSmoking doTwist do. . .

.059

. 052

31,900

107, 255

2,1552,3033,220

19, 632621, 99032,179

5, 76046. 056

3,995.050.043

1,40625, 98324,994

9609,030

24, 111

40,836817, 370

94,006

1,3971,5955,503

11,5266,734

16,448583, 50834, 718

533, 455

5.76046.056

31,133443

4,1954,00921,950

536

6,305.050

1,65410, 0766,1551,362

24,159

36,070463, 54995, 531

1, 6251,6365,492

11,8365,365

14, 347507, 34928, 596472,923

5.76046.056

25, 704421

3,9423,25617,642

442

.050

.043

2,054904241479

9,385

22, 709

31, 518728, 566100, 088

1,8561,7755,574

6,3648,421

18,9477,091

2 1,376

3,437

322202

2,7894

18102

13,815349, 78024, 758

597, 390

5.76046.056

22, 941380

3,6813,19615, 227

456

6,720.050.043

2,36612, 9767,4775,2077,838

19, 076

22, 027530, 784

1,8061,6175,763

14, 8446,268

16, 287403,16628, 958626,129

5.76046.056

25,153426

3,63616, 752

457

993.050.044

22, 73723, 36120, 2512,857

20, 411

29,189421, 33871,458

1,6861,5135,935

14,9304,898

14,465385,34925, 202584, 281

5.76046.056

22, 630355

3,7483,34714,719

461

4,560.052.048

29, 44247, 46141, 5325,9116,197

21, 227

37,224277,99849, 805

1,8502,5455,240

6,9777,804

19,4047,087

3,594

396299

2,7783

19

15, 529430,32628, 253685,139

5.76046.056

24, 766389

4,0653,38516,458

468

1,897.055.050

20, 61258,10852,9184,2247,793

18, 467

47,033204,80835, 757

1,8472,2054,882

14, 0305,927

15,854490, 58529,127

685, 513

5.76046.056

26,246402

4,4063,74517, 209

483

2,360.056.050

14, 05153, 26448,9933,99011,190

15, 512

54, 580156,18541,878

2,0282, 0554,856

6,526

17, 858475,06729, 232926,183

5.76046.056

25,462427

4,2883,52416,847

376

3,175.056.049

6.25754, 55149,1445.3659,752

14, 736

54, 555

55,117

1,9732,0254,803

7,4926,563

14, 9166,630

2,482.056.050

5,41227, 70719, 4777,92610, 679

13, 999

51,123

73, 432

1,6612,2484,216

' 3, 349

' 404'283

26, 7936,042

2,5274

22109

18, 523478, 80227, 660549,338

5.76046.056

25, 346441

4,2293,91016, 288

478

18, 404487,03328, 835521, 326

5.76046. 056

25. 732'4584,5603,88416, 348

483

7, 232.057. 052

4,94619, 02516,036

4467, 766

17,219

54,159

90, 885

1,4352,0063,644

20, 9755,725

17, 777491,02827, 462

843, 686

5. 76046. 056

24, 535505

4,2644, 0641.5, 200

501

10, 253.058.052

1,11613, 22010, 6401,9620,915

27, 034

59, 375

102,191"

1,7742,0513,367

6,3294,720

23, 3807, 451

3,369

368258

2,6184

21

18, 761506, 07129, 756

433, 690

5. 76046. 056

27,166467

4,4763,96217, 758

503

FUELS AND BYPRODUCTS

COALAnthracite:

Exports thous. of long tons..Prices, composite, chestnut:

Retail dol. per short ton._Wholesale do

Production thous. of short tons..Stocks, end of month:

In producers' storage yards doIn selected retail dealers' yards

number of days' supply. _Bituminous:

Exports thous. oflong tons _.Industrial consumption, total

thous. of short tons,-Beehive coke ovens doByproduct coke ovens doCement mills doC oal-gas retorts doElectric power utilities doRailways (class I) doSteel and rolling mills doOther industrial do

Other consumption:Vessels (bunker) thous. oflong tons__Coal mine fuel thous. of short tons

Prices:Retail, composite! dol. per short ton,_Wholesale:

Mine run, composite ..__ doPrepared sizes, composite __-do

ProductionJ thous. of short tons

10. 2615,382

34, 942968

6,983676142

5,9458,742

88610,600

4. 6884.893

49,800

167

11.489.7694,355

1,112

49

1,091

30, 333577

6,928578139

4,8127,349

870

105277

8.75

4.4034.602

38, 700

11. 579. 7753,980

1,112

1,065

30, 961626

6,799556139

4,5827,594

8959,770

107286

4.3934.619

40,012

153

11.599.7934,834

939

45

518

32, 637736

6,999507171

4,7378,072

97510,440

296

8.87

4.3934.618

41,400

146

11.679.8234,977

704

33

454

33, 588817

7,061407152

4,7828,1761,04311,150

315

8.87

'4.3684.61644,070

159

11.669.8264,432

531

488

31,161789

6,445370139

4,4467,666966

10,340

78298

8.87

' 4.3674.61541,695

180

11.669.8054,595

331

23

658

34, 041931

7,157470150

4,7298,6001,02410,980

77345

' 4.3674.615

48, 250

97

11.679.7993,198

197

43

528

29, 023148

6,404489136

4,1647,006946

9,730

43

r 4.3754.5335,975

309

11.649.7793,858

169

53

1,511

31,199850

6,871596134

4,9167,755837

9,240

124307

8.85

4.5474.61843,400

335

11.579.8074,891

205

29

2,071

30,881886

6,855615127

5,1357,576

827

113306

4.5704.663

42, 774

223

11.889.9394,681

268

32

1,973

31, 510908

7,107660128

5,2157,799

8338,860

129311

9.06

4.6184.724

43, 300

304

12.1710. 073

5, 246

414

48

2; 325

32, 400959

7,108658132

5, 6438,038

8429,020

'329

9.24

4.6584.823

45, 650

404

12.4110. 209

' 5,143

708

59

2, 353

• 31, 928901

r 6, 814630126

' 5, 5528,053

8029,050

' 335

9.34

4.6774.883

• 46, 880

i November 1 estimate.r Revised.JData for 1938 revised. See p. 45 of the August 1940 Survey.^Composite price for 37 cities in October; 36 cities in November; and 35 cities beginning in December 1940.§Data for 1939 revised; for exports, see table 14, p. 17, and for imports, table 15. p. 18 of the April 1941 issue.

» December 1 estimate.



1941

October

1940 1941

October Novem-ber

Decem-ber

Janu-ary


tember

FUELS AND BYPRODUCTS—Continued

COALr—ContinuedBituminous:

Stocks, industrial and retail dealers, end ofmonth, total thous. of short tons..

Industrial, total - doByproduct coke ovens „ doCement mills . . doCoal-gas retorts doElectric power utilities doRailways (class I) doSteel and rolling mills do0ther industrial. do

Retail dealers, total __do.___

COKEExports thous. of long tons..Price, beehive, Connellsville (furnace)

dol. per short ton..Production:

Beehive thous. of short tons. _Byproduct doPetroleum coke do

Stocks, end of month:Byproduct plants, total-. do

At furnace plants doAt merchant plants do

Petroleum coke do

PETROLEUM AND PRODUCTSCrude petroleum:

Consumption (runs to stills)—thous. of bbl__Imports! doPrice (Kansas-Okla.) at wells. _.dol. per bbl_.Production} ____thous. of bbl._Refinery operations._______.pet. of capacity..Stocks, end of month:

California:Heavy crude and fuel thous. of bbl__Light crude do

East of California, total} _____doRefineries} ___do_.._Tank farms and pipe lines}, do

Wells completed}, ___ ... .number..Refined petroleum products:

Gas and fuel oils:Consumption:

Electric power plantst thous. of bbl__Railways (class I) .__doVessels (bunker) do

Price, fuel oil (Pennsylvania)*.dol. per gal..Production:

Residual fuel oil} thous. of bbl..Gas oil and distillate fuels, total do

Stocks, end of month:Residual fuel oil, east of Calif doGas oil and distillate fuels, total do

Motor fuel:Demand, domestic} thous. of bbl_.Exportsf doPrices, gasoline:

Wholesale, refinery (Okla.).dol. per gal..Wholesale, tank wagon (N. Y.)f doRetail, service stations, 50 cities*___do

Production, to ta l} . . . . . . . thous. of bbl._Benzol} doStraight run gasoline} doCracked gasoline} _.doNatural gasoline} ..do

Natural gasoline blended} do____Retail distribution mil. of gal_.Stocks, gasoline, end of month:

Finished gasoline, total^...thous. of bbl_.At refineries do

Natural gasoline doKerosene:

Consumption, domestic. doExports§ do___.Price, wholesale, water white, 47°, refinery

(Pennsylvania) dol. per gal..Production thous. of bbl..Stocks, refinery, end of month do

Lubricants:Consumption, domestic} doPrice, wholesale, cylinder, refinery. (Penn-

sylvania) dol. per gal_.Production . thous. of bbl..Stocks, refinery, end of month .do

Asphalt:Importsp short tons..Production doStocks, refinery, end of month ..do_.

Wax:Production thous. of lb_.Stocks, refinery, end of month do

61,46251,5628,435

720361

11,919

19,6709,900

6.125

1,817

.058

.060

.149

.140

.063

.160

51, 56442,4649,712

515285

11, 3095,493

66014, 4909,100

76

4.475

384

51, 87242, 92210, 091

476273

11,4135, 748

69114, 2308,950

62

4. 555

4174,854

1 3 1 I4,764

88

2,

1

029740290581

1,

1.

997713284527

50,99842, 97810,184

436284

11,3365, 921

82713, 9908, 020

51

5.000

4904,904

126

1,901736

1,165487

109, 3943,910.960

113, 41882

74,12435,422

220,89644, 774

176,1221, 8.%

1,6774,8472,724.040

27, 94414,381

26, 53937, 709

53,8071,793

.045

.122

.12252,907

29021,60225,9685,0474,2692,191

73, 33847,1626,569

5.608120

.0496,496

11,000

2,443

.0902,9548,464

39,993608,400469,000

43,120113, 827

109, 7034, 744

105, 3644, 023

.960106,904 j 110,520

82 ! 82

73,01135,043

220,64544,873

175, 7721,533

1,4614,8052,779.042

26,12515, 073

24, 58035, 885

49, 0742,082

.045

.120

.12150,892

28221,05324,7164,8414,1332,020

73, 42946, 6956,102

6,768175

.0506,431

10,473

2,449

.0903,0218,365

377396,900526,000

43,960120, 212

71, 79835,852

221,03143,767

177, 2641,243

1,8375,0212,525

.043

27, 92516, 608

23,65632,082

46,4131,863

.045

.123

.12252, 508

29822, 21325,0474,9503,9451,947

77,94350,8075,704

113

.0526,8949,512

1,875

.0902,8658,767

18, 504326, 200614,000

43,680125,272

48, 70242,1029,887

408258

11,1196, 235

935]3,2606, 600

45

5. 375

5144,933

126

1,597732865406

1] 0,6833,199.960

110.64783

70, 47435, 961

219, 90542, 760

177,1453,368

1,8444, 9382,172.044

27, 88017, 018

22,06028,034

45, 3441,767

.044

.125

.12252,542

31321,35325,9924,8844,0161,848

83, 31055, 5625,490

7,76957

.0536,6618,312

2, 367

.0902,9438,809

600303,100689,000

45,080120, 027

48, 51842, 5189,890

440247

10, 9447,2161,041

12, 7406,000

5.375

4964,502

103

1,391774618375

50, 69045, 5909,854

562247

11,3308,7411,276

13, 5805,100

49

5.375

5864,999

125

1, 337845492375

100,4453,321

.960100,791

83

69, 83336, 985

220,04642,260

177, 7863,162

3,5864, 5112,487.044

25, 94414, 732

21,15428, 542

42, 0011,079

.044

.127

.12348, 374

28020,11223,4174, 5653, 5101,732

88,60961, 7565,311

6.48454

.0545,8887,634

1,798

.0942, 5228,790

9,838306,400760,000

38, 920139,150

111,059 !3, 876

.960332,837

83

68, 66137, 453

221,31941,649

179,6701,184

1,6775,0612,569.044

27, 67715,387

21,08623, 293

48, 7601,287

.045

.129

.12453,409

31721,99526,1814,9163,9812,019

91,50164,4685,331

6.778124

.0546,0336,724

2,263

.0992,8138,637

9,579373, 300831,000

51, 240121, 887

35, 97131,8914,970

390188

9,0145,658

72110, 9504,080

5.375

934,474

128

1,401694706400

111,1064,1321.010

111.08085

67,25637,272

221,12042, 528

178, 5921,612

1,6584, 8952.823.045

26,74814, 692

19, 82224,449

55,1541,232

5,549158

.0546,0687,063

2,712

.1003,2138,363

579488,900933,000

56, 280116,096

37,48332, 5834,725

483162

8,9916,135

73711,3504. 900

5. 825

5414,846

140

1,405741664385

119, 4353,7011. 035

116,97688

66, 25636, 221

218,35541, 595

176, 7601,615

1,5925,0402,836.048

27,99415, 546

20, 89127,353

59, 3071,257

.049

.135

.13153, 768

27722,13126, 3804,9803,6882,220

88, 41461,1865,504

.053

.143

.13758, 258

28823,88128,9085,1833,5412, 383

85, 42557, 3575,856

4,504118

.0546.0338,421

2,732

.1033,3227,835

2,452601,800964,000

57,400118,456

42,92937, 2495,913

559225

9,9886,604

72013,2405,680

47, 05140,4516,215

634285

10,4317,003

72315,1606, 600

52,80145,0117,205

660296

JO, 9128,111

75717,0707, 790

64

6.125

5644,836

144

17428849578382

o

5

1

01

12f»

578014134

452875577367

8 1 16.125

6115,013

137

1,596932H64372

115,9354,4881.110

115, 02788

121,4.]'.

118,

180657110251

89

65, 73534,961

216,45443,526

172,9281,620

1,3255,1472,488.053

27,88214,697

20,91430,620

58,3601,184

.058

.149

.13856,987

27423,14028,4785,0953,648

'2,327

82,41152, 8566,235

3,918101

.0575,218

3,171

.1233,5207, 353

4,366634, 500841,000

54,600110,481

66, 45435, 651

212,13244,472

367,6601.934

124,5724, 3191.110

121,35490

64, 72984,560

207,22543,483

163,742l,83f>

I1.620 '5. 3392,633

. 057

28. 62415,746

21,90934, 337

m, 0931,212

. 060 I

'. 13950,609

27123,96230,124

5, 2523,769

'2,543

77,42949, 0926,317

4, 27095

. 0595,406

10,635

3,074

.1403, 5637,107

1,7935,460

29,83615,409

23, 56236,845

62,9441,355

. 060

.149

.140f)0, 740

27724.79030.0345,6394,2372, 540

73,09445,4636, 111

4,449

.0625,850

11,636

2, 562

.1433, 5617. 200

687713

0100000

55, 440101 434

740,605,

54,85,

0700000

320S24

' 56,994' 48,044'7,292

709331

11,6378,758

82718,4908,0.50

M

6.12*

5744,806

1,588889699370

121,4814,7901.110

119,446

63,84734,875

203,48141,975

161,5061.031

' 1,66«

28,11836,024

25,22439,726

58,9952.213

.060

.149

.140fiO. 107

26624,03930,1985,6644,8.54

72,76146,1515,373

5,624296

.0635,949

11,662

2,638

.1543,4277,416

0680, 200474,000

266,36079.4.58

r Revised. ^Revised beginning February 1941 to exclude for East Coast district, stocks of "shuttle oil" and stocks transferred to the U. K. pool board.•New series. Data on wholesale price of fuel oil beginning January 1918 appear in table 46, p. 14 of the November 1940jSurvey. Data beginning 1920 for the new series

on retail service-station price of gasoline, which replaces a similar series shown in the Survey through February 1941, appear in table 10, p. 16 of the March 1941 Survey.fExports of motor fuel revised; for data for 1913 to 1939, see table 54, p. 16 of the December 1940 Survey; for data for all months of 1940, see note marked " t" on p. S-28 of the

August 1941 Survey. Data beginning January 1941 include mineral spirits; the comparability of the series is affected to a negligible extent by the inclusion of this item. Forrevised series on wholesale tank wagon (N. Y.) price of gasoline, see table 6, p. 18 of the January 1941 Survey. Gas and fuel oil consumption in electric power plants revisedfor 1939. See p . 45 of the August 1940 Survey.

}Revised data for 1939 appear in table 1, p. 17 of the January 1941 Survey.§Data revised for 3939; for exports, see table 14, p. 17, and for imports, table 15, p. 18 of the April 1941 Survey.



1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary

Febru-ary March i April j May June July August Sep-

tember

LEATHER AND PRODUCTS

HIDES AND SKINS

Imports total hides and skins§ thous. of lb.Calf a,nd kip skins§. . . d o . . .Cattle hides.. . do . . .Goatskins§ do . . .Sheep and lamb skins§ do

Livestock (federally inspected slaughter):Calves thous. of animals.Cattle d o . . .Hogs . . . . . do . . .Sheep and lambs d o . . .

Prices, wholesale (Chicago):Hides, packers', heavy, native steers

dol. per lb_Calfskins, packers', 8 to 15 lb. do . . .

LEATHERExports:

Soleleather§ thous. of lb.Upper leather § thous. of sq. ft.

Production:Calf and kip . thous. of skins.Cattle hides, thous. of hides.Goat and kid thous. of skins.Sheep and lambj . . . . ._.do._.

Prices, wholesale:Sole, oak, scoured backs'(Boston)__dol. per lb.Chrome, calf, B grade, black, composite

dol. per sq. ft.Stocks of cattle hides and leather, end of month:

Total thous. of equiv. hides.In process and finished _do__.Raw do . . .

5361,1194,1571,682

. 155

.218

1,209

~4~554*

.415

.522

LEATHER MANUFACTURERS

Gloves and mittens:Production (cut), total dozen pairs..

Dress and semidreess do . . .Work . . . . . . d o . . . .

Boots, shoes, and slippers:Exports§ thous. of pairs.-Prices, wholesale, factory:

Men's black calf blucher dol. per pair..Men's black calf oxford, corded tip. . .doWomen's colored, elk blucher-- .do

Production, boots, shoes, and slippers:Total thous. of pairs

Athletic do IAll fabric (satin, canvas, etc.) . .do !Part fabric and part leather do IHigh and low cut, leather, total d o . . . .

Boys' and youths' . do jInfants' do \Misses' and children's . .do !Men'si . .do !Women's do

Slippers and moccasins for housewear \thous. of pairs.

All other foot wear.._.__ do . . .

6.364.353.55

45,246555271

1,00436, 5781,9012,5564,40213,23514,484

6,426411

29, 6271,999

18, 9224,3792,904

507968

4,483 !1,734 I

.140

.203

152,752

1,9773,0983,643

.312

.453

13, 3779,1744,203

38,4593,365

22, 0045, 3685,882

462884

5,4191,462

.146

.218

4,0002,626

9121,9412,6723,411

. S

42,542 |1,489 !

26,925 I4,990 !5,357 I

437 |858

6,063 I1,416 I

.133

.213

2,2092,776

2,054 I3,098 |3, 320 |

.345 !

j

41,2842,828

24,6384,7926,249

35,4111,795

16, 5446,4468.550

411891

4,5171.625

,133.216

4352,679

2,1822,9533,494

.355

.466

13, 7649,4004, 364

1394

478

998544454

.481

14, 0639,5884,475

0)0)0)

168

6.004.253.30

37,027497324815

28,8051,5332,1323, 511

10,26511,365

6,341244

(>)0)0)

170

6.004.253.30

30, 533508305833

22, 5411,2811,8232,9418,6787,819

6,143203

0)0)(')

108

6.004.253.30

31,624469349

1,01325,430

1,3121,8913,2878,788

10,151

4,120243

196, 519118, 02078,499

101

6.004.253.30

36,803380414

1,58632,215

1,3592,1483,909

10,25414, 544

1,713496

384717

3,7251,391

.124

.216

1,2783,416

1,0142,1203,0643,797

. 355

.480

13, 6569,3704,286

204, 313127,69876,615

219

6.004.253.30

38, 288324493

1,64532,8681,2661,9473,9549,99815, 704

2,343615

39, 5401,859

24,1825,8955,254

444766

3,9041,408

. 129

.225 !

2, 799 i3,781 I

1,151 i2,1553,4173,724

.355 |

.486

13,2218,9584,263

235, 700146, 59789,103

241

50,6652,316

28, 5485,403

10,981

507792

3.8071,436

.137

.240

56,2671,949

35, 3277,2038,789

501908

4,0231,551

.147

.245

53, 5722,150

34,0258,5777, 004

440867

3,3361,378

.153

.234

143,871

1,1022,2083,6774,077

.367

.495

13,0098,6854,324

243,889149, 52994, 360

237

6.00 ! 6.004.25 i 4.273.30 ! 3.30

42, 663401453

1,40036,4271,4612,2564,21710,66617,826

2 993'990

42,841416582

1,15335,9121,5552,1663,97311,19817,019

3,760 I1,019 ;

144,321

1,0332,2563,6534,632

.375

.503

13,1848.6034,581

266,236158,949107,287

221

6.154.353.30

41,174437563910

34,2631,6642,1883,81711,32515, 268

3,9371,063

77 I2,268 |

1,098 !2,232 j3,9974,368 ;

.370 I

.518 |

13,4798,6594, 820

50, 6861,205

32,4716,0729,180

445968

3,0061,569

.150

.218

114, 363

1,1702,3734,2694r568

.415

.508

13,3878,5094,878

249,638147.823101J815

158

6.154.353.30

39, 780471289854

32, 7201,6832,4613,870

10,937 |13,768 !

4,427 '1,020 !

LUMBER AND MANUFACTURES

LUMBER-ALL TYPES

Exports, total sawmill products M bd. ft..Sawed timber§ doBoards, planks, scantlings, etc.§ ..do

Imports, total sawmill products.. . . .doNational Lumber Mfrs. Assn.:f

Production, total mil. bd. ft..Hardwoods. . . . doSoftwoods . . .do

Shipments, total do iHardwoods ..do !Softwoods d o . . . .

Stocks, gross, end of month, total doHardwoods . . d o . . . .Softwoods do

FLOORING1

Maple, beech, and birch: |Orders, new M bd. ft..IOrders, unfilled, end of month do I—...Production do !Shipments do 1Stocks, end of month . . do I

Oak:Orders, new doOrders, unfilled, end of month do.Production do.Shipments doStocks, end of month do.

40,08052,44649,22748,09443,088

72,86210, 34256, 49974,975

2,671427

2,2452,947453

2,4956,9041,5485,356

9,90011, 6009,2009,60015,850

47,57168,76551,93852,62451,426

73,91110,085 i53,023 !71,548 j

2,342 j388 I

1,954 I2,569422 j

2,147 j6,6851,5145,171

61, 9606,44336,43471,202 |

2,227 |357 I

1,8702,405383

2,0226,5521,4875,065

79,86514,90746,44962,349

2,298360

1,9382,480

3932,0876,3841,4554,929

60,9217,755

42,14067,504

2,177325

1,8532,232

3591,8736,3291,4214,908

50,9682,541

35,28483,861

2,395327

2,0682.391

3692,0236,3331,3804,953

65,8287,916

39,83879, 734

2,568381

2,1872,512

3872,1256,4061,3745,031

53,3084,399

40,16895,057

2,609372

2,2382,610

4052,2056,4621,3425,120

51,9777,40437,422115, 745

2, 581370

2,2112,676410

2,2666,3931,3035,090

258,435155,805102,630

148

6.234.353.45

44,794506258684

37,8501,8252,5084,25611,49317, 769

4, 824674

84,2727, 557

67, 635135, 018

2,747369

2,3782,911422

2,4896, 2391,2514. 988

61,8992,08338,4196,09212, 761

414968

2, 7961, 522

.150

.218

244,889

1,1812,375

r3,365

4,741

.415

.510

• 13,497' 8,459' 5,038

292,122179,332112,790

309

6.254.353.55

'44,985513225

'816' 37,459' 1,696' 2,468' 4,048'11,577'17,671

5,538

6,45011,1507,1007,000

16,200

31, 58855, 51948,41344,64255,197

5,75010,1007,6006,600

17, 500

25,94246,69544,25436,66462, 788

8,07510,9508,5507,275

19,300

35,90344,68146,65637,94171,503

8,22511,6006,6507,650

18,350

45, 98154,98538,40935,67774,235

7,90011,3507,8008,300

18,350

45,93162,25040,36940,66673,938

8,07511,1758.2758,325

18,200

58,26774,08943,22746,42870, 737

9,30011,1759,0009,500

17,750

54,44278,17346,76150,35865,533

10, 35011,4508,750

10,12516,675

53,48979, 51648, 68652,14661, 580

12, 8U013,9258,200

10, 32514,800

60, 52481,98851,86557,15051,038

61,79311,37146,586178,887

2,882373

2,5093,020412

2,6096,0921,2114,881

9,05013,1758,9509,80013,425

44,78174, 30549,92553,46444,962

48,9441,815

34,0235,4635,096

4471,0042,9201,567

.153

.218

1,3683,340

1,0842,3854,107

4,577

. 415

,51613,5238,3575,166

246,104161,39984,705

6.254.353.55

43,568509273

1,01735,3601,8122,3844,02211,78815,354

5,975433

51,1637,25034,090152,190

2,706372

2,3342,784416

2,3676.0391,1884, 851

7,00011,5007,6008,80012,200

36,36360,46047,432

41,95")

''Revised. i Data not available. JData beginning January 1940 include fleshers and exclude skivers.§Data for 1939 revised; for exports see table 14, p. 17, and for imports, table 15, p. 18 of the April 1941 Survey.fRevised data for 1939 and January and February 1940 appear in table 17, p. 17 of the May 1941 Survey.^Beginning January 1941, data include a small number of pairs of shoes other than men's leather (nurses, athletic, etc.) made for Government contract.



1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary


tember

LUMBER AND MANUFACTURES—Continued

SOFTWOODSDouglas fir:

Exports, total sawmill products§.._M bd. ft..Sawed timber§ doBoards, planks, scantlings, etc.§ -do

Prices, wholesale:Dimension, No. 1, common*

doj. perM bd. ft..Flooring, " B " and better, F. G., 1 x 4, R. L.*

dol. per M bd.ft..Southern pine:

Exports, total sawmill products. _.M bd. ft._Sawed timber doBoards, planks, scantlings, etc do

Orders, newf mil. bd. ft..Orders, unfilled, end of month do

28. 065

41.160

Price, wholesale, flooring-..dol. per M bd. ft..Productionf mil. bd. ft-_Shipmentsf doStocks, end of month do

Western pine:Orders, newf doOrders, unfilled, end of monthf doPrice, wholesale, Ponderosa pine, 1x8, No. 2,

common (f. o. b. mills)..-dol. per M bd. ft..Production! mil. bd. ft..Shipments! doStocks, end of month do

West coast woods:Orders, newf doOrders, unfilled, end of month doProduction! doShipments! doStocks, end of month do

Redwood, California:Orders, new M bd. ft_.Orders, unfilled, end of month doProduction. doShipments doStocks, end of month. do

50. 788

36.69

FURNITUREAll districts:

Plant operations percent of normal..Grand Rapids district:

Orders:Canceled percent of new orders..New no. of days' production..Unfilled, end of month do

Plant operations percent of normal _.Shipments no. of days' production..

Prices, wholesale:Beds, wooden 1926=100--Dining-room chairs, set of 6 doKitchen cabinets doLiving-room davenports do

Steel furniture (see Iron and Steel Section).

96.3111.6102.0104.2

32,1709,13023,040

24. 500

33.320

10,964989

9,975949600

48.676827952

1,556

546

31.73544592

1,997

720681659690860

47,67442,85536,05938, 245

282,098

76.0

3.02946

75.025

77.9102.388.187.2

30,752 i 14,2858,390 i 4,157

22, 362 j 10,128

24.990

34.300i

11,581 I1,215 j

10,366 I763 I550 |

50. 585734813

1,477441433

33.04414494

1,917

656726614606867

36, 58142,84931,46836,318275,402

77.0

5.02140

74.023

77.9102.388.187.2

25. 970

36. 260

11,2931,8689,425640498

50. 868718692

1, 503

397380

33.58344446

1,812

642693618677851

40, 46951,87729, 76131,476270,158

74.0

8.01733

75.020

77.9102.388.1

27,89612,62015, 276

25. 970

36. 260

11,6911,7479,944773511

50. 750763760

1,506

425394

33.99262411

1,663

666676675681855

33,13152,85935,27931,455

269,424

70.0

3.02842

72.020

83.5100.989.487.2

24, 3476,55517, 792

24.990

35.280

8,991750

8,241674542

49.943676643

1, 539

380400

33.47265374

1,551

660701669634

29, 34348,41533,70032,738

267,276

73.0

6.02242

73.021

83.5100.989.487.2

12,6511,365

11, 286

24.990

35. 280

7,761746

7,015642553

48. 788734631

1,642

480466

33.37343414

1,479

799746752756

38,75650,93031,62233, 233

262,805

17, 5174,89312,624

24.990

35.280

15,9112,61213,299

685580

48.570753658

1,737

502490

33.68468478

1,469

749735743759

38,95952,72434, 05837,105

255, 390

75.0 76.0

5.02242

74.021

83.5100.989.487.2

6.02040

74.019

85.1102.590.787.2

13,4353,5639,872

24. 990

35. 280

12,573259

12, 314767646

48.213759701

1,795

560535

33.22570516

1,523

797787664744867

47,13258,49339,83540,461249,358

75.0

4.03254

74.020

87.2103.993.387.2 j

19, 9015,940

13, 961

24. 990

35. 280

12, 6791,159

11,520896824

49.143670718

1,747

637

33.31614543

1, 593

771814695750838

43, 57664, 76940,14837, 595246,625

82.0

4.02662

78.020

92.9103.993.393.3

METALS AND MANUFACTURES

IRON AND STEEL

Foreign trade:Exports (domestic), total long tons..

Scrap doImports, total do

Scrap doPrice, wholesale, iron and steel, composite

dol. per long ton..Ore

Iron ore:Lake Superior district:

Consumption by furnacesthous. of long tons._

Shipments from upper lake ports doStocks, end of month, total do

Atfurnaces d o .On Lake Erie docks do

Imports, total doManganese ore, imports (manganese content)§

thous. of long tons.

Pig Iron and Iron Manufactures

Castings, malleable:Orders, new short tons..Production doShipments __ do

Pig iron:Furnaces in blast, end of month:

Capacity short tons per day..Number _

6.6129,56443,94638,8525.094

70, 52884, 29682,004

156.265214

1,105,510258, 926

3,966242

38.07

6,05110,00941,12536,2804,846

265

40

71,12962,29361,161

144,290196

788,17674,349

980252

38.08

5, 9735,341

41,71236, 9254,787

229

61

64,61257, 71756,321

148,000201

805,15869,9804,064

48

38.30

6,1739

36,07331, 792

4,281174

59

66,66560,15560,127

146, 770202

698, 85345,055

42317

38.38

6,3310

29, 79426,167

3,627155

45

81,08968, 74265,884

152,040205

600,24074,378

796150

38.22

5, 6730

24,19521,1003,096

178

31

76,05563,33162,066

148, 555202

567,22754, 3836,2735,401

38.27

6,4120

17, 76115,4072,353

182

49

86,29366,20867,415

152,750205

635,809120,152

2,6201,094

38.15

5,8026,919

16,93715,0021,935

185

15

84, 75176,17073,066

140,310195

472, 73462,8945,6333,758

38.15

6,23211,00721,81719, 5512,266

180

53

83,21870,27871, 740

151,000206

457, 68559,01810,1906,473

38.15

6,23110, 73126,63023,9192,710225

50

75,07571,20970,179

153, 600211

18, 7436,61512,128

28.069 19,9707,915 5,580

20,154 14.390

25.970 25.970 27.146

36.260 i 36.260

45, 111586

44, 5251,019952

51.446734891

1, 590

607642

33.52693593

1,685

776883692715831

43, 68565, 42242, 64640, 810246, 431

82.0

537,92159,90511,0499,418

38.15

6,49711,33131, 59728; 2573,341

196

33

77, 31267. 01068, 310

153,190211

16,9413,10413,837

692762

54.393748882

1,456

518554

38. 808

10, 48K1, 4719.015695715

51.704708742

1, 422

541479

33.87 i 35.37679 | 657605 ! 617

1,754 | 1,796

705772813826819

30,85655,20447,27242,221244,169

87.0 i

679699733734821

28,08944, 53243,70339,068242,7M

88,0

3.03570

77.025

95.0105.597.493.3

3.02772

82.028

93.5108.297.493.3

3.03376

84.032

96.1108.299.398.9

697, 73280,25518,38016,405

38.15

6, 53411,43036,46932,4574,012

223

65

706, 58065,486

38.15

6,44810,24340,77036,1064,664

206

62

68,945 i 64,28368,750 I 69,17564,250 | 67.532

155,020213

157,165216

§Data for 1939 revised; for exports see table 14, p. 17 and imports see table 15, p. 18 of the April 1941 issue. r Revised.fRevised series. Revisions for 1939 and January and February 1940 for southern pine, western pine, and west coast woods, and also revisions for 1938 for the latter group,

appear in table 17, p. 17 of the May 1941 issue.•New series. These prices replace series shown in the Survey through the February 1941 issue; data beginning 1922 appear in table 16, p. 17 of the May 1941 Survey.



1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary


tember

METALS AND MANUFACTURES—Continued

IRON AND STEEIr-Continued

Pig Iron and Iron Manufactures—Con.

Pig iron—Continued.Prices, wholesale:

Basic (valley furnace) dol. per long ton.Composite do. - _Foundry, No. 2, northern (Pitts) do-_.

Productionf thous. of short tons.Boilers and radiators, cast-iron:

Boilers, round:Production thous. of lb .Shipments do . . -Stocks, end of month do . - .

Boilers, square:Production do.-_Shipments do - _ _Stocks, end of month do__.

Radiators, ordinary type:Production-thous. of sq. ft. heating surface-Shipments do-_-Stocks, end of month d o . . .

Boilers, range, galvanized:Orders, new, net number of boilers.Orders, unfilled, end of month do_-_Production do.._Shipments do-. ~Stocks, epd of month d o . . .

23. 5024.1525.894, 856

2,0913,48311,912

29,46137, 36097,896

8, 26710,49420.154

Steel, Crude and SemimanufacturedCastings, steel:

Orders, new, total short tons_.Percent of capacity

Railway specialties short tons..Production, total do

Percent of capacityRailway specialties short tons_.

Steel ingots and steel for castings: fProduction thous. of short tons..

Percent of capacity!Prices, wholesale:

Composite, finished steel dol. per lb.Steel billets, rerolling (Pittsburgh)

dol. per long ton..Structural steel (Pittsburgh)... dol. per lb._Steel scrap (Chicago) do] per long ton_-

U. S. Steel Corp., shipments of rolled andfinished steel products!--thous. of short tons..

Steel, Manufactured Products

Barrels and drums, steel, heavy types:Orders, unfilled, end of month thousands.Production _do_._.

Percent of capacityShipments thousands. -Stocks, end of month do

Boilers, steel, new orders:Area thous. of sq. ft..Quantity number.... i

Furniture, steel: jOffice furniture: !

Orders, new thous. of dol._|Orders, unfilled, end of month doShipments do

Shelving:Orders, new doOrders, unfilled, end of month do.._.Shipments do

Porcelain enameled products, shipments!thous, of doL .

Spring washers, shipments* doSteel products, production for sale:t

TotaL. thous. of short tons..Merchant bars . doPipe and tube---. ..doPlates _ .do

Percent of capacity*.Rails thous. of short tons..Sheets, total do

Percent of capacityStrip:

Cold rolled thous. of short tons..Hot rolled do

Structural shapes, heavy doTin plate doWire and wire products do

Track work, shipments.. short tons..

117,516100.4

32, 935135, 272

115.649, 891

7, 24399

34. 00. 021018. 75

i, 851

1, 8501,78186.9

1, 77743

1,348958

3, 8257,2474, 311

9371,8371,173

321

5,471503531587

124.1161

1.05394.1

110136407342432

12,403

22.5023.1524.894,446

3,5985,145

10, 750

32, 70143, 76782, 205

8,45411, 76922,805

106,71642, 09497, 26696, 741

112, 32796.0

49, 34983,93871.7

31,811

6,645

.0265

34.00.021019.75

1,572

4311,52087.41,534

40

1,7081,221

3,3231,7283,090

797599

4,895229

4,670475401430

83.679

1,069

147362189382

5,505

22.5023.1524.894,403

2,4162,45110,622

23, 78826,05980, 064

8,0428,95222,103

35, 22080, 37182, 24336, 616

94,92981.1

27, 71881,19269.4

32,066

97

.0265

34.00.021020.06

1,425

4021,45778.91,455

42

1,7221,026

3,3362,1812,884

718652

4,030233

4,48044437743086.5114

1,04797.4

83138374200350

5,733

22.9023.1525.294,548

1,9341,88411,021

18,96418, 54780, 564

6,2456,537

21, 831

70,98938, 79572, 24567,41441,447

115,34398.6

45,15485,81073.3

33,932

6,49594

.0265

34.00.021020.60

1,545

1,45277.81,442

52

1,563835

4,3572,9833,583

844658790

4, 256248

4,61943738444386.8131

1,05095.1

89139331203374

7,151

23.5023.9525.894,664

2,0711,60811,687

23,44314,43789, 300

7,2445,83923,461

89, 74845, 61580, 70582, 92839, 224

110,57994.5

34,88794,40980.7

35,397

97

.0265

34.00.021020.00

1,682

3701,454 i76.7 !1,444 ;

23.5023.9525.894,198

1,9201,222

12, 391

22, 57913,08699,040

6,7444,891

25, 393

80,58350, 77774,11375,42137, 916

105,12589.8

29,10385,49273.0

28,692

6,23897

.0265

34 00. 021019.25

1,548

1,03554.61,046 |

52 ]63

2,210994

3,7873,6183,152

924779804

4,496281

4,863519409431

82.6156

1,1221 Jl. 0

95153363209409

6,835

52

1,500845

3,8524,1023,368

940829890

4,393303

4,587455384416

88.1154

1,074107.3

91139322205379

7,973

23.5024.0025.894,704

2324254,

.50

.15

.89334

2,2521,092

13,256

22, 64713,489

106, 958

6,8714,37127,890

94,99260,41982,82085, 35035, 386

126,140107.8

47,40895,18581.3

30, 733

7,132100

2,2141,35814,107

23, 52513,360117,058

6,9674,495

30, 375

69,43346, 44886,45983,40438, 441

152,007129.9

59, 551101,977

87.134,204

6,75798

.0265 ! .0265

34.00 !.0210 !19.88 j

1,720 !

3151, 07256.61,077

47

r 3, 5221,294

5,0505, 3303,821

1,2041,103929

5,310320

5,04646343645487.0177

1,177107.3

102155374252431

10, 225

34.00 j.021018.95

1, 688

4281.46377.21,474

37

2,3391, 336

3,8895,2104,010

1,3461, 3831,066

5,456331

4,94247045344588.0194

1,148107.8

104144383265412

11,751

23.5024.1525.894,600

1,8261,167

14, 834

25, 25416,861125,448

7,3855,621

32,140

89,15952,96681,49582, 64137, 295

153,143130.8

70.191104,971

89.737.192

7,053

.0265

34.00.021018.75

1,745

8901,58483.61,582

39

2, 5601,372

4,6675,5794, 298

1,2781,4541,207

5,491355

5,085471461479

91.9185

1,140103.9

107160406287434

11,012

23.5024.1525.894, 553

1,7411,47415,096

25, 31920,382130,339

7,1336,45332,817

105,07672, 25880,02385, 78431, 534

161,512138.0

80,065113,988

97.445,073

6,80198

. 0265

34.00.021018. 75

1, 669

1,2141,61979.0 i1,619 |- » |

1,5861,415

5,8517,3354,095

1, 5251,8501,130

5,511375

4,754439449466

92.216899993.8

102154373292417

11,210

23.5024.1525.894,771

1,8632,00314, 951

21,51426,426125,376

6,1518,671

30, 263

85,07777, 80972,97079, 52624, 978

175,892150.3

77, 669112,364

96.043, 320

6, 82293

. 0265

34.00.021018. 75

1, 667

|

1,3171, 55876.01,549

48

2,2701,601

4,9817,9394,349

1,1821,9321, 082

5,608366

4,91944348048290.615199190.4

99137366332404

10. 642

23.5024.1525.894,791

1,9362,66914,024

26, 50538, 894113,130

7,098 |11,69625,584 j

68, 85486, 45163, 72960,21228,495

!

1,4971, 59077.61, 600

37

1,4111,246

4, 2598, 0584,139

9991,7651,166

5, 807338

5, 234447485532

99.7146

1,01892.4

23. 5024.1525. 894, 717

2,1482,74113,405

27, 59134, 889105, 759

7, 07510,90122, 394

80, 046101,01658, 63565,48121,615

147, 316125.9

52, 207117,703

100.644, 290

7.00196

. 0265

34.00. 021018.75

1, 754

106130 •

391 -360434 :

10,236 i

I

115, 06098.3

32,882118,543

101.343, 995

6,82096

. 0265

34. 00.021018.75

1,664

1,4921, 71383.51,711

40

' 1, 747' 1,13.1

3, 7787,7334,186

1,2842,0221,027

5,802318

5, 059431464519

112.212795488.5

104134372325420

10, 439

r Revised. »Data are for 7 manufacturers beginning January 1940.1 Monthly data beginning 1929, corresponding to the monthly averages on p. 132 of the 1940 Supplement, appear on p. 18 of the April 1940 Survey.§ Beginning July 1941, percent of capacity is calculated on annual capacity as of June 30, 1941, of 86,144,900 tons of open-hearth, Bessemer, and electric steel ingots and

steel for castings.t Revised series. Data on pig-iron production converted from a long to a short tonnage basis; data beginning 1913 are shown in table 38, p. 14, of the October 1940 issue.

Steel production and percent of capacity revised completely; for revision through 1939 see table 9, p. 16 of the March 1941 issue; for revisions in 1940 data see p. 49 of the June1941 issue. Porcelain-enameled products revised beginning 1939 to include data for 99 manufacturers; for 1939 data, see p. 49 of the March 1941 issue. Steel products, pro-duction for sale, have been converted to a short tonnage basis; see table 45, p. 14 of the November 1940 issue.

* New series. Earlier monthly data will be shown in a subsequent issue.


Monthly statistics through December 1939, to-gether with explanatory notes and referencesto the sources of the data, may be found in the1940J3upplement to the Survey

1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary


tember


NONFERROUS METALS |Metals I

Aluminum: ;Imports, bauxite. long tons,-L.Price, wholesale, scrap, castings (N. Y.) j

dpi. perlb--! .09&;Bearing metal (white-base antifriction), con- i

sumption and shipments, total (60 manufac- |turers)t thous. of lb._! 5, 621

Consumed in own plants (38 mfrs) do ! 757Shipments (38 manufacturers) do I 2,931

Copper: IExports, refined and mfrs. § short tons,. |Imports, total§ do 1

For smelting, refining, and export §— - do.... _ i _..For domestic consumption, total* do ;

Unrefined, including scrap*. do | .Refined* do I

Price, wholesale, electrolytic (N. Y.) jdol. peril)., j .1178

Production:Mine or smelter (including custom intake)

short tons.. So, 546Refinery .--do I 86,617

Deliveries, refined, total do.—j 121,457DomesticcT—- --do ! 121.313Export . , — ..do ! 144

Stocks, refined, end of month _._ do--. . | ?>7, 260Lead: !

Imports, total, ex. mfrs. (lead content)..do j .Ore: I

Receipts, lead content of domestic ore-do.... I 39,390Shipments, Joplin district!—- do_..J 3,883

Refined:Price, wholesale, pig. desilverized (N. Y.) j

dol. per lb-1 -0585Production from domestic ore_ -short tons-. j 37,221Shipments (reported) _ _. do. . . _ j 43, 537Stocks, end of month.. «do I 10,735

Tin: ;Consumption of primary tin in manufac- !

tures long tons.-iDeliveries (includes reexports) do . . . . s, 000Imports, total (tin content)* do..

Ore (tin content)* do.. -Bars, blocks, pigs, etc do

Price, wholesale, Straits (N. Y.)_.dol. per lb._ • 5200Visible supply, world, end of mo. -long tons.. I

United States (excluding afloat). do j h 127Zinc: j

Imports, total (zinc content)* short tonsjFor smelting, refining and export* doFor domestic consumption: !

Ore (zinc content)* doBlocks, pigs, etc., and old* do -

Ore, Joplin district:! iShipments ...short tons... 39,220Stocks, end of month do 4,730

Price, wholesale, prime, western (St. Louis)dol. per lb'.. -0794

Production, slab, at primary smelters: %short tons__ 15,980

Shipments, totalt__ short tons.. 73,813Domestic* do i 61,483

Stocks, refinery, end of month $ do | 21,594Miscellaneous Products j

Brass and bronze (ingots and billets): !Deliveries short tons..L.......Orders, unfilled, end of month do

Sheets, brass, wholesale price, mill.dol. per ib .J . 195Wire cloth (for paper industry): i

Orders, new thous. of sq. ft.. 1.819Orders, unfilled, end of month do 6,317Shipments do 976Stocks, end of month do j 631

MACHINERY AND APPARATUS j

Blowers and fans, new orders thous. of dol..Electric overhead cranes: !

Orders, new do I 1,768Orders, unfilled, end of month do - J 13,503" • • - ' 2 ,071

o:<, 357

r 4, 306643

2,048

38,82943,04424, 61018,4347,034

11. 400

.1183

86,91183,076

103, 771103, 771

50,15S 97,668 \ 86,978 I 62,051

.0904

*• 3, 905622

1,751

17, 90332, 79020, 50712, 2838, 2424, 041

.1180

84,28396,283

102,483102,483

. 0970 i » . 1039 iI

164,618 158,418

27,739 | 19,084

38,6414,485

.0531 I39,228 !62,496 I35,386 I

6,23011,82010, 214

98 !10,116 i.5150 i

40,631 i6,623 !

8,189 I3,055 |

4,783 I350

43, 26911, 553

36,4003,446

.057345,08957, 51035, 791

6,22012, 50510, 701

37410, 327

. .505640, 0464,362

12,4925, 728

6,309455

29, 53817, 045

' 3, 921614

1,682

13, 39525,94512, 64813, 2978, 3694,928

.1180

85,13597,035112,681112, 671

10142, 772

«• 4. 060507

2,053

22,38227,35719,1208,2376. 0562,181

.1182

83,280 I93,840 !

119, 758119,736

22116,854

.1397

r 4, 336529

2,138

18,09523,6846,69316, 99111,1735, 818

.1179

79,24093,654112,819 |112,808

1197,689 I

72,043 j 83,400 j 49,732 | 121,484

. 1100.1100 I .1100

'6.270 !625 j

2,632 |

7,046 !49,18811,35937, 82925, 75412, 075

.1181

•6,505999

3,431

8,90787,05118,08668, 96530. 80438,161

.1182

85,70195,322134,339134,333

689,873

19,205 | 19,707 i 14,321 | 27,991

38, 8474,079

38,433 !4,652 I

34, 7053,915

.0725 1 .0725

.0550 !47,208 i56, 755 I40,926 I

6,210 j9,35814,756

252 |14,504 |.5011

44,6789,179

11,4313,464

2,3495,618

40, 9753,900

.055054,65855,71147, 248

6,60012, 76012, 378

32312, 055.5016

44,7199,442

.056047,76454,85946,604

6,66012,1959,906

709,836.5140

44,1077,489

10,9423,011

7,133799

42,1635,597

13. 8413, 880

8,7151,245

33, 2967,091

38,2823,778

.057746,74862,09045, 996

8,130 i16,092 \14,100 !

204 i13,896.5205 I

39,9715,195

14, 7522,011

6,5376,205

38,566 I4,495 !

88,04289, 687123,629123, 580

4998,789

39,764

38,6655,126

.058543,42359,16942,899

8,39013,95517, 7182,47115, 247.5196

38, 7885,016 !

20,426 i1,987 |

13, 768 I4,671

46, 9442,651

' 6, 378750

2,806

8,12041, 472

32, 47616,969 !

•• 6. 480991

2,874

12,28654,9819.637

45, 34423,08322, 261

.1182

90,34289,390144,293144,293

093,076

40,553 I 33,374

95,794 } 90,960 \ $6,462

.1100

' 5, 538699

2,838

11,07769,83816,47053,36816, 233

15, 506

.1181

82, 55888, 560

115,139115,097

4298,164

37

•

82

135

1181

09986, 879

143143

74

122089

33384

. lioo

' 5, 767983

2, 690

10, 58971,15313, 37357, 78019, 87237, 907

.1178

84, fi9585,426117,486117,486

071,930

.1100

r 5, 830911

3,066

10,19870, 58115. 54655, 03420, 06334. 971

.1178

* 81, 830r 81. 553121 021121,021

063, R70

.0725 | .0725 j .0725 .0725 ! .0725

63, 33873,09963,97027,060

10, 09334, 221.192

5701,094516793

61, 50266,06461,20022, 498

10, 23232, 017.192

482804

1,6574,109629

1,4975,087615

65, 35470, 27064,98417, 582

10, 56729, 452.193 |

433 \978 !518 |763 i

6, 501

4,1728,563

825 i

66,12168,84463,93014, 859

61, 60365, 81857, 66310, 644

12.42935,139

.195

7041,105572

70, 34167, 64065,01113, 345

j68,54370,41465, 03511,474

38,779 !3,653 ;

.0585 I46,104 i69,382 S34,018 |

8,86010,49013,069

913, 060.5216

40, 7777,205

28, 44718, 734

5,6654,048

35,196 i4,600 '

37,1553, 824

.0585 ;

22,160 47.891 ! 65,519

57,96924, 265

7,90014, 88015, 2663,714 i11.552.5267 |

38, 6002,846

14, 7458,372

2,638 I3,735 1

36,928 |5,000 I

36.464 i5,482 |

.058542, 04854,06719.172

8,56012, 57516, 2851,520

14, 765. 5335

38, 2284, 576

«(! !.058539,10055,00515, 330

8,83013, 62517.7196,14411. 575.5236

38, 2595, 603

.058541, 37347,09313,148

8,83012, 71514, 3112,11512,196. 5200

5,864 I 2,393 ! 1,767

11,4155,624

2, 3623,428

44,8824,730

.0725 ! .0725 I .0725

73,44973,09061, 69611,833

13, 38938, 253.195

703 I1,317 |484696 !

14, 93833, 270

.195

7731,493594720

2,640 i10,1741,030 j

2,29111, 0341,102

15,558 j29,576 1

.195 ;

9741,801

665736

15,39030,535

.195

1,0612,153

707764

6,541

2,37412, 2251,063

2,265 I13,298 !1,217 I

74912, 8251,235

281.1295.9236.6

16,32810, 59016, 09119,941

56

315.2329.3272.7

22,01314,44318,16022, 871

47

377. 2405.3292.5

23,64215, 26622,81923, 701

33

70,83771, 56961, 54611,101

15, 30830, 762

.195

1, 3522,733

764747

' 8. 816

74,64171, 89462, 71413, 848

15, 67230,891

.195

1,3783,330

826672 i

I

22, 7418,040

10,935 i3,766 •

|37,655 |5,250 :

.0725 ;

75,524 '71,40361,06117,969

17,18030, 646

.195

1,9714,451844642

1, 76912, 9611,678

2, 6413, 7441,287

1.131• 13,498 i

1,364

24, 34211, 704

9, 2233, 415

45. 2508', 100

. 0725

73, 22571, 76764, 07819.427

16, 38*28. 981. 195

1,8805, 481840629

9, 577

' 2,098' 13, 814

1.923

10, 596 j 6,103 j 5, 330 j 5, 408 j 9, 710

36,19422, 61228,84825, 682

84

9,917 ! 14,137

281.1273.3304. 7

32,52122,44832,685 I27.202 !

61 !

358.1368.4326.9

28,51123,11427, 84533,017

'72

312.9298. 2 I356.9 '

31,140 i22,885 I31,369 i31,940 '

44

363.8372.0339. 2

34,14322, 32134, 70727, 294

42

Shipments doExports, machinery. (See Foreign trade.)Foundry equipment : !

New orders, net total 1937-39=100.... 403.8 264.0 j 254.2 1 257.8 j 285.3! 281.1 315.2 377.2 298.7New equ ipment . . , do 414.2 284.8 278.8 276.1 j 301.8 ! 295.9 329.3 405.3 291.Repairs d o . . . . 327.2 201.8 188.7 203.2 j 235.8 236.6 | 272.7 292.5 321.0 j

Fuel equipment and heating apparatus: i | IOil burners: " j I

Orders, new, net n u m b e r . . 27,451 41,029 22,705 17,016 18,513 " ^ ' 'Orders, unfilled, end of month __do 18,358 9,056 7,562 8,043 10,353Shipments do 31,414 40,580 24,199 16,535 16,203Stocks, end of month d o . . . . 27,099 18,060 18,415 16,860 18,027

Pulverizers, orders, new do I 62 30 52! 44 48Mechanical stokers, sales: j

Classes 1, 2, and 3 do | 22,888 25,180Classes 4 and 5: , . . , , .

Number . . . . 401 410 249 I 254 j 171 ! 177 ! 215 i 222 234Horsepower 75,290 80,424 45,487 ' 51,671 i 56,011 ' 42,510 ' 52,894 I 55,387 | 63,238

*• Revised. I D a t a for October 1940, January, April, July, and September 1941 are for 5 weeks; other months, 4 weeks. 2 Average for 14 days.3 Average impossible due to lack of offerings part of month." § Data revised for 1939; tor exports see table 14, p . 17 and for imports see table 15, p . 18*of the April 1941 issue.^Revised to include foreign ores beginning January 1940; see p. S-32 of October 1941 Survey for earlier data, cf Beginning March 1941, includes duty-paid foreign copper.*New series. Earlier data for the new breakdown of copper imports and the new series for tin and zinc imports will appear in a later issue. For domestic shipments of

zinc beginning January 1940. see p . S-32 of the October 1941 Survey.tRevised series. The series on total consumption and shipments of bearing metal by 60 manufacturers represents almost the entire industry; data beginning January 1939

will be published later. The breakdown for "consumed in own plants" and "sh ipments" is available only for 38 manufacturers, continuing the series previously shown.For series on foundry equipment, see note marked with a "f" on p. S-32 of the September 1941 issue.

21,387 I '26,050 | r 28, 244 ; 26,720

400 !93,515

40391, 051

487 i91,429 I

418S3, 222



1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary

Febru-ary March April M a y June ! Julv

iAugust Sep-

tember


MACHINERY AND APPARATUS—Con.

Fuel equipment and heating apparatus—Con.Unit heaters, new orders thous. of dolWarm-air furnaces, winter air-conditioning

systems, and equipment, new ordersthous. of dol .

Pumps and water systems, domestic, shipments:Pitcher, other hand, and windmill pumps

units..Power pumps, horizontal type doWater systems, including pumps do

Pumps, steam, power, centrifugal, and rotary:Orders, new thous. of dol._

ELECTRICAL EQUIPMENTBattery shipments (automotive replacement

only):Unadjusted . 1934-36=100..Twelve-month moving totalf do

Domestic appliances, sales billed:Combined index, excluding refrigerators:*

Unadjusted index. . . . . . 1936=100...Adjusted index. do

Ironers, household....- ._ units-_Ranges* -doRefrigerators doVacuum cleaners, floor type .doVacuum cleaners, hand type. . . . .doWashers, household do

Electrical products:Industrial materials, sales billed... 1936=100._Motors and generators, new orders doTransmission and distribution equipment,

new orders 1936=100-Furnaces, electric, industrial, sales:

Unit - kilowatts-Value thous. of dol—

Electrical goods, new orders (quarterly)thous. of dol—

Laminated fiber products, shipments doMotors (1-200 hp.):

Polyphase induction, billingst--- -doPolyphase induction, new orders t doDirect current, billings doDirect current, new orders do-. . .

Power cable, paper insulated, shipments:Unit thous. of ft..Value .thous. of doL.

Rigid steel conduit and fittings, shipments*short tons--

Vulcanized fiber: jConsumption of fiber paper thous. of lb !Shipments thous. of dol-1

41, 3601,376

24,761

51, 730'132,947127,190

21, 730

12,9241,060

3,363

1,4872,052

3,9581,202

32,634874

2,952

130

122.3130.2

23, 28234, 71488,187

114, 69938, 270

168, 527

147.7254.3

' 233.9

16,9651, 341

1,718

3,7034,7311,2122,674

8911,110

15,403

2,582714

30,134906

15,477

3,025

6,086

15,168

133

20,813969

11,511

4,042

160138

!

91.1128.6

18, 92525, 24879, 815112,30939, 376100, 787

148.2223.9

214.2

12, 2281,043

1,812

3,5244,6281,2972,209

586739

18,848

2,742

88.4128.5

23,19124, 626115,236125,03736, 27492,474

164.8262.0

219.8

31,8661,766

514,8162,023

4,3586,3971,4122,065

1,167

19, 262

2,981805

44, 332887

17,666

5,648

102131

144.3181.3

20,98650,516

376, 214117,40830,177133,411

187.4220.6

'273.0

10,516924

2,123

083 I172 !

41,504849

16, 703

4,482

81130

157.7169.0

20,49251,790

358,402129,30234, 696155, 546

194.5'275.9

' 355.8

21,5081,719

2,330

4,3535,8291,3812,738

1,2841,457

18,291 | 19,468

'926 S3,012838

3,772

8,651

41,318917

18, 748

4,820

81132

192.1145.617,16661, 647

423,010178,04546, 284191,325

223.3' 342.3

' 250.9

31, 5951,402

554,1152,606

4,6797,5231,7622,882

1,2091,253

20,791

3,4481,029

43, 6011,483

20,953

3,923

82

'206.4' 158.821, 78965, 692

482, 587165, 67244, 602213, 611

234.4263.2

329.7

13, 774997

40,884993

23,889

5,298

95135

' 203.9'161.521, 76765, 359

433, 670156,81642, 394206,030

251.7429.7

303.0

9,689646

2,659 ! 2,896

5,0446,1951,3692,060

1,3731,595

5,5837,3511,7933,595

1,3701,751

22,633 24,310

3,4711,158

3,6351,177

4,424

10,857

36,475975

24,453

2,613

46,5721,176

25,802

3,113

45, 6821,209

24,612

3,692

137139

202.7183.9

20,28368, 629

378, 054146,889

35, 783188, 365

237.1' 406. 5

289.1i

11,626 I945 I

581,675 !2,791 |

5,455 |7,7501,725 14,257 1

1,3211,655

26,838

3,7621,100

167142

199.6' 204.521, 24664,476

339,421155,84331,977

213,862

240.8444.1

' 335.9

228145

158.6162.9

18,47850, 759

270, 543150, 620

27, 686148,811

243.0307.0

' 288.8

11.644976

2,822

5,9836, 2001,8674,512

1,5101,860

26, 540

3,5951,178

18,3121,522

2,803

5,7655,8251,7613,395

1,4181,729

27,681

3,6831,302

6,482

18,973

39,5271,295

24,386

2,459

246149

193.2193.314,54566, 206

'164,521182,55033, 239145,194

254.5370.9

360.4

22, 2911,733

629,0283,102

6,0166,5601,8433,057

1,2441,807

28,879

3,7851,183

PAPER AND PRINTING

WOOD PULPConsumption and shipments; • §

Total, all grades. . short tons..Chemical:

Sulphate, total doUnbleached.... . do

Sulphite, total doBleached do

Soda ^ doGroundwood .do

Exports, total, all grades* .doImports, total, all grades* ...do

Chemical:Sulphate, total* do.

Unble: " '"Reached*..... do.Sulphite, total*. .do.-..

Bleached*. _ _ . . .doUnbleached*. . . . . . .do

Groundwood^ doProduction^

Total, all grades. . doChemical:

Sulphate, total.. doUnbleached- ___. , do

Sulphite, total doBleached.... _._do

Soda _. do.—Groundwood- do

Stocks, end of month:§Total, all grades. do

Chemical:Sulphate, total- ,do

Unbleached... doSulphite, total do._.

Bleached .doSoda .do

Groundwood -doPrice, sulphite, unbleached dol. per 100 lb. 3.71

750,400 '733,300

343, 600288, 600210, 200127,900' 45, 000151, 60039, 35968,112

10, 8696, 515

43, 50925,11218, 39712, 903

761, 372

•346, 643291,929224, 233135, 766' 46,474144, 022

'156,200

• 34, 300• 30, 200

52, 500' 7, 600' 30, 500

3.46

332, 000280, 900

'217,000129,300' 39, 900144,40028| 24470, 549

12, 5217,872

46, 42327, 39919.02410, 745

747,843

'330, 032278,315218,582125, 360' 41,104158,125

170,500

32, 30027, 600

' 85, 30048, 600' 8. 700' 44, 200

3.46

'724,000

'322,700'272,900' 214,400'127,300' 47, 300' 139, 600

36, 62770, 686

14, 4388,414

44, 52023, 60320, 91711, 030

'730,039

'325,338'276,415"207,370' 121,677' 47,844'149,487

176, 700

' 35, 000r 31, 100' 78, 20042, 900' 9, 400

' 54,1003.46

'769, 700

342, 400288, 200'223, 700131, 600' 49,400'154, 200

23, 50172,493

15,67110, 46545,90725,85920,04810,199

'790,314

355, 713299, 429225,486135, 873' 48, 304160,811

'197,500

48,40042, 40080,10047, 200' 8,20060,8003.46

"721, 200

320, 500267,000214, 000124, 500' 45, 400141, 30024,87069,821

13, 6598,001

45, 55428, 22717, 3279,495

717,077

323, 258270,902203,113120, 598' 44, 547146,159

193,300

51,10046, 30069, 20043,300' 7,40065, 6003.46

'811,700

362, 200303,900242, 600146, 000' 51,000155, 90037, 99984,967

16, 28710, 26855, 69930,15625, 54311,731

-•806,901

360, 073301, 654237, 479140,900' 51. 024158, 325

188,500

49, 00044,10064, 00038, 200' 7, 50068, 0003.46

'818,200

364, 900306, 800242,100146,600' 50,700160, 40048,73885,136

14,4319,84553,18430, 57522, 60916, 394

'811,718

353,677295, 010238, 546143, 227' 50,319169,176

'182, 000

37,80032, 30060,40034,800' 7,00076,8003.46

'851,400

387,000326,900248,000148,700' 52,500163,90024,17595,175

15,1949,942

61, 30033, 69227, 60817, 629

'846,416

377,850317, 245244,139146, 712' 53,152171,275

'177,000

28,60022, 60056, 60032, 900' 7,70084,1003.46

'813,500

369,800309,800241, 400143,800' 52, 700149, 60014,174105,031

16,44711, 90370, 59835, 21935,37916, 732

'805,978

366,582307,094239, 636145, 247' 52,160147,600

'169,500

r 25,40019, 90054,80034, 400' 7, 20082,100

3.46

'809.900

362,400'304,300247, 000148, 500' 52,500148, 00035,38790, 501

11,8587,799

57,36928,93028,43920,149

'777,045

355, 782298,831235,400140, 525' 50,913134,950

'136,700

18.90014,40043,10026, 300' 5,60069,1003.46

844,400

387, 700327, 200252,4 0151,400' 54, 300150,00019,378

109,831

15,25510, 55275,11138, 05537, 05617,626

820,838

384,432323,509247, 231147, 235' 54,775134,400

113,100

' 15,500' 10, 70038, 00022,100'6,10053,5003.53

805,300

367, 400313, 000240, 600140,80051, 400145,80013, 82898, 027

14, 5309,75765,15832, 52432, 63416, 804

791,658

'366,362312,395240, 272141, 72950, 295

134, 729

99, 400

14, 50010,10037,60023,1004,90042,4003.71

' Revised. v Preliminary. •Domestic pulp used in producing mills and shipments to market.JShown in 1940 Supplement and monthly issues through February 1941 as A. C. motors. ^Data revised for 1939; see table 15, p. 18 of the April 1941 issue.*Ncw series. For data beginning 1931 on unit sales of electric ranges, see table 52, p. 18 of the November 1940 issue (for revision in note regarding coverage of the data,

see note marked with an "*" on p. S-33 of the October 1941 Survey). Data beginning 1937 for shipments of rigid steel conduit and fittings are shown in table 34, p. 26, ofthe November Survey. Earlier monthly data for the indexes of domestic appliances are shown in table 30, p. 20, of the November Survey. Data beginning 1913 for woodpulp are shown on p. 13 of the October 1940 issue.

§Data on consumption, production, and stocks have been revised for 1939 and 1940 to adjust monthly figures to annual census data on production. The revised data willbe published in a subsequent issue.

tRevised scries. This series replaces the adjusted index; earlier data will appear in a subsequent issue.



PAPER AND PRINTING—Continued

24, 27621, 64629,049100.0

28, 70313,514

135, 649134, 649

7.30145, 887

111.0146, 52343,115

PAPERTotal paper, incl. newsprint and paperboard:!

Production short tonsPaper, excl. newsprint and paperboard:!

Orders, new .- short tons -Production doShipments do

Book paper:cfCoated paper:

Orders, new short tons--Orders, unfilled, end of month doProduction do

Percent of standard capacityShipments short tons-.Stocks, end of month do

Uncoated paper:Orders, new doOrders, unfilled, end of month doPrice, wholesale, "B" grade, English finish,

white, f. o. b. mill dol. per 1001b--Production short tons--

Percent of standard capacityShipments short tons-,Stocks, end of month do

Fine paper: fOrders, new doOrders, unfilled, end of month doProduction doShipments doStocks, end of month do

Wrapping paper:fOrders, new doOrders, unfilled, end of month doProduction doShipments doStocks, end of month _-do

Newsprint:Canada:

Exports doProduction doShipments from mills doStocks, at mills, end of month. -do

United States:Consumption by publishers doImports doPrice, rolls (N. Y.) dol. per short ton..Production short tons._Shipments from mills do !Stocks, end of month: I

At mills doAt publishers do |In transit to publishers do

Paperboard:Consumption, waste paper doOrders, new doOrders, unfilled, end of month do jProduction do j

Percent of capacity !Waste paper stocks, at mills short tons._|

PAPER PRODUCTS |Coated abrasive paper and cloth: ;

Shipments reams. _ iPRINTING j

Book publication, total-.- .no. ol editions..!New books do i. _. ...New editions do i._

Continuous form stationery, new orders ithous. of sets..! 299,591

Sales books, new orders thous. of books. _| 28, 278

321, 664318, 787304, 685162, 582

262, 488

50.0087,06887, 318

11,614334, 52946, 570

464, 446595, 634446,033583, 668

98.9189,163

,003,971

435,059442,610432, 521

18, 3345,10818,16362.5

19, 43114,158

101, 66041,334

6.30106, 482

80.9103, 49363,152

41, 64316, 53444, 75143, 44864,093

165, 20976, 590162,492159, 42981, 508

275,822309,957287,943180, 326

261,028229, 56150.0088,19288, 774

18, 648339,21142, 039

333, 739486, 181140 027473,169

77.8249, 860

111,106

822166

170, 82818, 559

949,422 \ 908,471 1,002,800 I 934,996 1,052,665 1,079,772

424,064420,810416, 419

417, 776420, 005415, 625

488, 585466, 697471,114

15,9905,26416, 04558.0

16, 42413, 633

97,66745, 775

6.3099, 298

77.395, 07468, 555

16,9686,174 |17,726 j65.9 !

15,96715,326

98, 67948,845

6.3096, 229

78.896, 37866, 574

465, 537428,857438,804

20,546 i6,77219,636 I67.6 !

19,943 I14,971 i

20,107 !8,532 |18,949 i73.4 ;

19,280 !14,622 !

117,435 ; 113,64055,711 i 63,920

565,856479, 531494, 007

21,8629,07622,16780.8

22, 05914, 397

589,695492,842506, 087

28, 27614,09122,23081.0

22, 64813,923

133, 970 150,70770,048 ! 93,257

42, 80818, 69642, 99742, 37564, 936

40, 30917, 75142,01741, 07867,178

158.156 156,57677, 967 84, 749

157,204 ! 154,819156,992 I 149,79481,870 86,875

6.30 i107,721

81.0109,982 ;64,141 !

49,49221,342 ;45,169 j46,750 !66,826 ;

177,007 ;89,722 !172,622 I172,176 i89,015

6.30104,071

86.8107, 35961, 373

48,69922, 69642,60444,03265, 041

6.30120,879

93.8125, 40456,721

56, 55035, 61247, 59847,81965,187

6.30121,913

95.4127, 58750,754

67, 50749, 74249,11252, 79162, 818

167,96,157,158,84,

135294757726075

214,135,174,177,87,

238387357163556

219 505170; 815179,18486

601015085

276, 586282, 344286, 739175, 931

263, 450252, 897276,457152, 371

251,457 ! 256,036257,020 ! 217,32350.00 I 50.00

85, 338 80, 83787, 331 84, 037

16, 655327, 91339,188

211,022261, 298243, 394170, 275

229, 799192, 24050.0089,12484,141

13,455 18,438308,880 301, 56247, 592

219.464245, 607239,745176,137

219,362187,17050.0079,72081,241

16, 917284,79

322,991 | 275,353426,614 I 393,026128,222 j 115,143

34,719 ; 42,163

443, 27475.7

260, 320

101,925

1,027916111

157, 47417,405

407, 62970.7), 755

322, 408520.931160, 561446,979

76.1264, 393

310. 969470, 671202, 284426,419

81.5260. 890

232,197275,769265,724 !186,182

258, 518221. 542

50.0087, 37685, 503

18,790252,85644, 312

371, 253543,988252, 611485, 758

85.4253, 009

276,452279, 996285,789180, 389

2f-8,4312?. 7, 639

50. 0067, 00091,487

1,150,067

600,681532,868545,621

33,03920, 61323, 97184.1

24, 57913,281

165, 927119, 533

6.55134, 371100.6

136, 29649, 687

68, 73066, 47552,81955, 58059, 356

210,195179, 794195, 764201,33079,864

268, 706284, 767291,112174, 044

260,827276, 25750.0090,91391, 689

1,093,065

558, 363504,690521, 340

26,13223,35422,91386.8

23,38812,745

139, 598124, 865

128,939105.1

130,58947, 614

66, 94779, 56049,18651,20157,838

194,352 I193,056 I181,924 !181,928 !79,083 !

'1,093,882 1, 161,261)1,137,340

578,353507,063524,349

24,96724, 74123, 80886.7

23,90512, 587

143, 528136, 394

6.95126, 564101.6

129, 22443, 755

r 71,168102.591

r 49, 769r 53, 664'51,194

195, 280199,691184,619186,70677, 634

• 572, 746" 532, 553• 541, 964

28,11327, 50325, 24891.2

25, 27312, 637

139, 643143, 209

7.30138,599

107.2136,18047,932

r 76, 968• 120, 602"• 54, 074r 56, 532' 49, 07S

195,492200, 233ISO,581195,01770,54o

9fiq fifift i 303,126 | 275, 223273 697 I 293*483 ! 293,054281 S n ' 300/236 j 296.985165;898 i 159,145 155,214

242,404252,872

50.0083, 96285. 424

215,012 ! 224,361247.103 I 254, 895

50.00 I 50.0083,199 ! 83,59284,641 j 80,756

14,303 i 13,527:2£5,588 I 252,381

46,679 I 51,197

?57,091 ! 377,595550,038 | 572,522330,779 j 370,151499,930 ! 526,286

87.9 1 89.4262,398 j 269,737

90,670 I 106,890 j 116,944 j 137,177 129,119 i 135.571

12 065 ! l 0 > 6 2 3 ' 1 3 > 4 5 9

277,681 ! 3 2 0 > 6 0 2 I 3 4 5 > 1 5 8

49^687 ' 40,451 | 38,706

Q7/< 1Q.K ! 384,765d74, loo j f.^ 9- 9

383,534 ! -fto'Ron

504,413 ! o 0V"°.n9 o • 8o. 6

264,631 i 2'2'31'

411,073565,853452, 966545.116

95.9237, 339

130,852 146/734 i 173,022

1,122889233

56850860

183,392 i 171,27317,481 | 19,947

891 ;722 i169 ;

192,228 i18,328 ;

1,310 I1,100 '•210 i

918800118

1.051'887164

894 695 !708 i 593 i186 ! 102 !

985774211

207,715 I 188,909 j 203,327 I 262,591 I 195,361 j 219,32619,621 ! 21,331 ! 24,470 | 26,137 j 26.219 I 26.544

548.448520, 278529,817

21, 03224, 77224. 79192 2

24, 69212, 762

134, 790145,861

7. 30128,983105.0

132, 72043, 828

65, 706125,82455. 06559, 36549,155

183,054199, 450186, 853185,41871,809

293. 18J298, 270305, 010148, 480

239, 098242, 57050.0078, 65780, 252

11,864341, 88446, 608

422, 36i542,792444.736538, 405

95.0218.257

780128

271,20327, 878

RUBBER AND PRODUCTS

CRUDE AND SCRAP RUBBERCrude rubber:

Consumption, total long tons-.For tires and tubes (quarterly) do

Imports, total, including latext doPrice, smoked sheets (N. Y.) dol. per lb..Shipments, world§ long tons..Stocks, end of month:

Afloat, total do ..For United States do

British Malaya doUnited States * do.....

Reclaimed rubber:Consumption doProduction doStocks, end of month do

Scrap rubber consumption do

60,418

72,222.232

59, 644 57, 716

74, 696.203

127,079 !

265,000166,837

75. 877235, 353

16, 80719, 30030, 816

72, 901.216

99,817

250,000158,095

77, 471250, 412

16,31217, 63631, 459

59,118,97,

709314984ono

127,189

250145

000950

75, 560288,

1719

864

397239

32. 63641 176

65, 989

86, 833.199

126, 575

265, 000153,16984, 343

309, 411

19, 08620, 41333, 380

62, 692

73, 973.204

90, 607

245,000136,955102, 425320, 373

18,22219,50633, 654

69, 024130,060

87,123.221

139,164

260, 000140,228

85, 437338,147

19, 61122, 00635, 02846,181

71, 374

63, 305.228

114,899

275, 000153,48495. 322

329, 767

20, 42721, 57435,336

I71,365

101, 404.239

126,198

255, 000147,45991,121

359, 234

21. 40522, 77535, 871

84,912147,045

64, 577.219

127,364

275,000175,49990,021

339,108

22,55923,79036,26553,311

21,72523, 11136. 751

' Revised. i Includes Government reserves.fRevised series. For revised data for "total paper," "paper, excluding newsprint and paperboard," fine, and wrapping papers beginning 1934, see table 43, pp. 12 and 13,

of the November 1940 Survey.tFor monthly data for 1913 to 1938, corresponding to the monthly averages on p. 148 of the 1940 Supplement, see table 28, p. 18 of the May 1940 Survey; for revised data

for 1939, see table 15, p. 18 of the April 1941 Survey.©"In recent months the number of companies reporting has fluctuated to such an extent that tonnage figures are not comparable from month to month.§Beginningwith the January 1941 Survey, data for world shipments of crude rubber are from the Statistical Bulletin of the International Rubber Regulations Committee;

earlier data from this source have been in close agreement with data compiled by the Bureau of Foreign and Domestic Commerce, shown in previous issues of the Survey.



1941

October

1940

October Novem-ber

Decem-ber

Janu-ary ary

1941

Febru- I March April

TIRES AND TUBESPneumatic casings:

Production thousands..Shipments, total do

Original equipment doReplacement equipment do . .Exports . _ -.do

Stocks, end of month doInner tubes:

Production ._ . . . doShipments, total - do

Exports .- doStocks, end of month do

Raw material consumed:Crude rubber. (See Crude rubber.)Fabrics (quarterly) thous of lbRUBBER AND CANVAS FOOTWEAR

Production, total . . . -.thous. of pairs..Shipments, total doStocks, total, end of month.. do

RUBBER

4, 8345,8671,994

4.123

4,1375,143

4, 448

6, 8487,4338, 650

5,0775,5252,3203,048

1589,410

4,5484,876

1247,648

5,1055,971

13,365

AND

4,7324,9692,4352,404

1309,163

4,1044,690

1067,056

5,1466,633

11,878

PRODUCTS—Continued

4,9684,9912,6242,249

1189,127

4,6564,644

877,017

75,475

5,3696,118

11,129

5,4864,8502,2912,430

1289,797

5,1134,474

967,633

5,9396,614

10,377

5,1614,8962,5462,197

15310,029

4,8874,610

1027,924

5,5435,166

10, 754

5,6865,5172,6382,722

15810,149

5,3495,181

1378,069

83,649

5,8275,359

11, 222

5,8395,9992,3343,487

1789,958

5,4815,358

1278,143

6,6285,555

12,272

6,0917,6762,7004,816

1608,373

5,8396,310

1097,686

6,0845,134

13,223

6,3797,6022,7574,709

1367,088

6,2646,908

1047,010

88, 614

6, 2785,668

13, 834

* 5, 578* 6, 450r 1, 998' 4, 309

1436, 235

* 5. 278'• o, 917

896,357

4,7896,366

12, 256

STONE, CLAY, AND GLASS PRODUCTS

PORTLAND CEMENTProduction thous. of bbl_.

Percent of capacityShipments thous. of bbl..Stocks, finished, end of month doStocks, clinker, end of month do

CLAY PRODUCTSCommon brick, price, wholesale, composite,

f. o. b. plant dol. per thous..Floor and wall tile, shipments:

Quantity thous. of sq. ft..Value thous. of dol..

Vitrified paving brick:Shipments ...thous. of brick..Stocks, end of month do

GLASS PRODUCTSGlass containers:

Production thous. of gross..Percent of capacity

Shipments, total -thous. of gross..Narrow neck, food* doWide mouth, food* doPressed food ware*. doPressure and non-pressure* doBeer bottles* doLiquor ware* doMedicine and toilet* doGeneral purpose*... doMilk bottles* do__.Fruit jars and jelly glasses*. do

Stocks, end of month doOther glassware, machine-made:*

Tumblers:Production thous. of doz..Shipments doStocks.. do. . . .

Table, kitchen, and household ware, shipmentsthous. of doz..

Plate glass, polished, productionthous. of sq. ft-.

Window glass, production thous. of boxes..Percent of capacity

GYPSUM AND PRODUCTSCrude:

Imports short tons..Production . do

Calcined, production do _ _.Gypsum products sold or used:

Uncalcined do....Calcined:

Building plasters doFor mfg. and industrial uses doKeene's cement doBoard and tile, total thous. of sq. ft.

Lath... doTile do. . .Wallboard do.. .

16,68878.6

17, 83316. 4164,193

12.886

4, 082

15, 7691,52493.9

13,93563.7

15,77618,0084,470

12.147

5,8601,470

7,36534, 510

7,094102.26, 315

3861,268

55312428

1,0432,038

472285

107,948

4,8374, 9376,975

4,86470.3

4,81642394940

106105

1,0311,608

322201

149,247

3,8873,6427,991

3,763

17,0701,34983.1

12, 72560.1

10,37220,3534,558

12.148

5,1811,344

5,76932,031

4,35167.94,07717080731126102

1,1381,2302571974

9,432

3,0562,8048,160

3,006

16,0591,26478.0

11,19551.28,19223, 379

12.195

4,7241,249

2,51630,288

4,19865.53,52613868233189154803

1,0402671983

9,988

3,1992,8768,455

2,456

17,4911,458

387,9691,033,403888,078

244,975

430,09033,3586,447

621,768388, 2306,816

226, 722

9,02142.47,98424,4165,092

12. 201

4,5651,195

1,80130, 580

4,51765.04,17718996141224140589

1,4683372069

10,109

3,2002,6418,775

2,316

19,3501,56196.2

8,34543.47,45625,3075,520

12. 242

4,3681,117

1,01530,442

4,36870.84,27320590937275167676

1,4333511998

10,097

3,6944,0048,419

2,9(05

15, 6641,39786.1

10,59649.89,91525, 9886,276

12.328

5,5971,387

1,08830, 402

5,12876.75,117240

1,03842412368843

1,49343421313

9,979

4,2004,4248,115

3,400

18,2661,41787.3

175,467811,500764, 500

200,630

373, 50336,0276,450

539,000322,7007,100

209, 200

12,19659.3

14,13224,0566,207

12.323

5,2191,363

2,64030,233

5,32579.75,573289

1,11335633418865

1,52240522941

9,612

3,8384,3877,499

3,922

18,3441,40086.3

14,73269.4

16,04822,7456,005

12.404

6,1721,629

3,61228,622

6,24693.56,402326

1,21249779548991

1,609453272136

9,244

5,5485,0557,896

3,372

18,3941,28278.9

15, 22374.0

16,10921,8655,757

12. 483

6,3401,694

3,38428, 778

6,16696.06,865358

1,44747763605

1,0281,695477262165

8,397

4,8574,8637,820

3,069

18, 5341,30480.3

326, 2481,197,6891,026,987

370,482

523, 21838, 2227,672

709, 282472, 69611, 267

225, 319

16, 00074.9

16,68721,1785,522

12. 604

7,1921,929

' 4.0562&711

6,29194.1

6,363489

1,30644691495834

1,603398278200

8,176

4,5414,382

2,903

12, 4631,28178.9

16, 34576.5

17, 82519, 7325,219

6, 7011,890

3, 90628, 781

6,791101.66,801830

1, 30039480430922

1,826410301239

8,052

4,8794,8267,872

3, 857

14,1261,26778.1

16, llo78.3

18, 28417, 5614,804

12.832

6,3301,816

6,28697.86,902970

1,24945333396

1,0711,898410342158

7,321

4,4074,9987,208

3,427

14,9061,12369. 2

366, 5191,335,9051,099,244

377, 807

577, 84041, 5698,854

718,415479, 7949,133

229, 488

TEXTILE PRODUCTS

CLOTHINGHosiery:

Production -thous. of dozen pairs..Shipments .doStocks, end of month.. do

14,10114,97121, 238

13,58614,10923,879

12, 57912,97523,626

11,27911, 53623, 511

12, 74711,82224,527

11,55811, 57324,603

12,10512,49524,304

12,87112,73724,530

12,62111,75025,493

12, 53111,93326,183

12,89712,88826,192

11,49513, 78323, 904

11, 96913, 76622,107

'Revised.•New series. Data for glass containers for the period January 1934-December 1939 are shown in table 49, pp. 16 and 17, of the November 1940 issue; minor revisions for

1940 for wide-mouth food containers and liquor ware not shown on p. S-35 of the September 1941 issue are available on request; earlier data on glassware other than containersare shown in table 2, p. 17, of the January 1941 Survey.



1941

October

1940 1941

October Decem-ber

Janu-ary

I Febru-| ary March i April | May June July I August

TEXTILE PRODUCTS—Continued

COTTON ;Consumption . j 953,600

By classes of manufactured products:* jSales yarn do I 208,560Duck.. . do ! 57,456Tire fabrics and cords do i 68,129Narrow sheetings and allied fabrics._do I 138,419Wide fabrics do . . . . I 80,901Print cloth yarn fabrics do 91,416Fine goods do 56,732Napped fabrics do 46,009Colored yarn fabrics do 69,850Towels do 20,547Other woven fabrics and specialties.. do 35,944All other cotton products do j 79,637

Exports (excluding]inters)§ do s 161,668Imports (excluding linters)§ do j 40,696Prices received by farmers dol. per lb .J . 166Prices, wholesale, middling (New York)__do | , 171Production: j

Ginmngs (running bales) • __ .thous. of bales..! 7,964Crop estimate, equivalent 500-lb. bales

thous. of bales.. 211,020Stocks, domestic cotton in the United States,

total cf thous. of bales.. 19,886On farms and in transit d" do 4,712Warehouses do j 13'268Mills do I 1,906

COTTON MANUFACTURES

Cotton cloth:Exports§._ thous. of sq. yd_.Imports! ..doPrices, wholesale:

Mill margins cents per lb__Print cloth, 64x60 dol. per yd..Sheeting, unbleached, 4 x 4 do

Finished cotton cloth, production:Bleached, plain thous. of yd..Dyed, colors doDyed, black doPrinted do

Spindle activity:Active spindles thousands..Active spindle hrs., total mil. of hrs..

Average pers pindle in place hours..Operations percent of capacity..

Cotton yarn, wholesale prices:22/1, cones (factory) dol. per lb__40/s, southern, single, carded, Boston...do

RAYON AND SILKRayon:

Deliveries (consumption), yarn*...mil. of lb__Imports§ thous. of lb_.Price, wholesale, viscose, 150 denier, first

quality, minimum filament*..-dol. perlb. .Stocks, yarn, end of montht mil. of lb._

Silk:Deliveries (consumption) O bales._Imports, raw§ thous. of lb_.Price, wholesale, raw, Japanese, 13-15 (N. Y.)

dol. per lb__Stocks, end of month:

Total visible stocks bales..United States (warehouses) 0 do

WOOLImports (unmanufactured)§ thous. of lb._Consumption (scoured basis) :

Apparel class doCarpet class ..do

Machinery activity (weekly average):1Looms:

Woolen and worsted:Broad thous. of active hours..Narrow do

Carpet and rug doSpinning spindles:

Woolen doWorsted do

Worsted combs doPrices, wholesale:

Raw, territory, fine, scoured dol. per lb_.Raw, Ohio and Penn., fleeces doSuiting, unfinished worsted, 13 oz. (at

mill) dol. per yd..Women's dress goods, French serge, 54" (at

mill) dol. per yd. .Worsted yarn, ?$2*s, crossbred stock (Boston)

dol. per lb_.

20.45.080.094

188,143,7,98,

23,H,

594718116297

043232463

125.8

.396

.479

41.7

.5505.3

4,160

3.080

(4)57, 508

53, 72012, 255

2, 52294246

112,470127, 204

232

1.08.49

2.228

1.411

1.763

194,70015, 726.094.096

9,086

20, 4015.27813, 8261,297

770,832 I 741,170 j 777,482

1856, 004' 226, 0295313,615

i568, 629i 355, 8811449,1171236,6171189,2501294, 922i 92, 364

i169,981i448,921

112, 5575,906.093.102

11,430

3 12,565

144, 71012, 026

.094

.100

10, 866

I

26, 7095,136

19, 5033,18314, 6971,623

29, 95411,420

13.31 14.24. 052 .054.062 I .065

154,479126,6108,238

110,657

22, 4719,283378

103.5

164,079129, 8786,535

105, 468

22, 6868,621351

105. 7

.257 I

.355. 267.377

36.7386

.530

39,8776,490

2.698

184,79748, 297

33,981

39, 24011, 387

1,89277205

88,051104,138

181

1.05.44

1.931

1.153

1.395

34.81,576

.5306.7

36,3747,219

2.585

195, 33060, 330

34,631

33,8218,969

2,09272

90,323102, 813

179

1.10 !.46 |

S1.931

1.213

1.488

18, 6271,84015,0141, 773

27,7347,581

14.50.054.066

155, 770119,8895, 668

108, 886

22, 7998, 660353

105.2

.268

.403

34.02,466

.5306.3

23,1134,429

2.562

225, 24872, 248

56,313

34,0129,352

2,24567200

92, 553105,826

186

1.10.46

1.931

1.213

1.450

844, 839

178,04647,11465, 649119, 55370,24491,44949, 76938,06561,46517,37835, 38570,72256,1859,624.095.104

11,931

793, 428

162, 78548, 09862, 736107, 89465, 60281, 74345, 02234, 08555,15617, 69232, 35880, 25768, 56814,210.094.107

17,7381,288

14, 6361,814

34,9447,060

14.94.055.067

164, 610122, 9546,304

107,857

22, 8299,902404

112.3

272]404

16, 8991,043

14,0091,847

33,9379,791

16.00.057.073

159,429120,1085,528

107,358

22, 7778,922365

114.0

!390

854, 767

174, 05148, 75572, 838115,55570, 72685, 76546,84036, 49557,12419.41234, 34192,86597, 29228,184.097.108

12, 298

920, 950

190, 78650, 09970, 540129, 00871,21589, 43254, 32042, 46160, 43019,97236, 308106,37974, 00918, 846.105.113

923, 518

191,60754,74373,400125, 84571, 38285,97049, 37239, 93264, 42119, 88132, 580114,38571, 55030, 853.117.129

875,812 j 929,782 | 874,113

ISO, 21750,42166,194120, 29072, 31080, 50748,08638, 73359,89919,31131, 569108,27575, 23626,108.128.144 I

194,23651,79366, 745130,25175,15188,35852,47341,23762,174

33,376115,00561,11017,243

.143

.164

I

15, 978925

13,2091,844

38, 5137,796

18.17.066.078

175,144141,056

6,270126,671

18J, 73555, 44863, 217

124, 75771,80182, 51448. 73640,96461,67718,52332, 21692, 52534,96743, 322

.153

.168

504

Sep-tember

875,682

15,003802

12, 3391,862

37,9478,828

19.81.072

178,538146, 235

6, 543122,245

22,806 ; 22,8079,593 10,299

393 | 423116.9 120.1

.338

.419

35.01,660

.5308.9

28,4253,263

2.560

224,36363,433

31.61,774

.53010.0

28,1112,430

2.589

214,83654,106

35.42,261

.53010.2

25,8283,453

2.816

211,17449,904

38.71,611

.5307.4

23,5383,551

2.834

210, 74349, 373

72,677 73,045

40,11510,965

36, 23210, 712

2,197 I 2,41171 !

201

90,418104, 279

192I

1.10 |.44 j

1.931 I

1.213 !

1.450 I

233

98,398115,206

210

1.09.44

2.005

1.213 |

1.463 i

72,458 91, 788

39,41611,008

46,97013,095

2,428 I 2,45085246

99, 589115,309

216

l.C.46 I

2.030 I

1.225 |

1.519 I

96244

102,929117,465

215

1.08.45

2.030

1.262

1.550

14,020843

11,3211.856

44, 9726,680

20.85.080

182,003145,6126,989

119,222

23,00410, 276

422121.7

.366

.430

40.21,304

.5305.8

22,4403,509

2.886

214,71150,341

74,954

41,03210, 588

2,49193241

106,880119, 610

218

1.08.45

2.030

1.275

1.594

13,099735

10, 5211,843

39, 0392,929

21.84.088.093

158, 569125, 2825,890

96,871

22,9959,938408

121. 5

.365

.433

38.31.457

.5304.6

24, 2513,895

3.019

204, 606

84, 759

41,90411,172

2,58794260

110,608125, 606

231

1.08.46

2.030

1.312

1.638

12,031 21,628590 io, 774

9,640 9 2331,801 i 1,621

41,1944,275

19.06.078.095

49, 5763,075

20.53.080

168,211134,5846,36098,704

23. 02810, 537

433123.0

.373

.433

39.4576

.5303.6

28, 5282,347

3.049

47,208

72,008

46,75011,320

171,667132,1776,113

97, 283

23,02910, 253

421125.3

.413

.475

37.3228

.5304.2

2,069332

3.080

53, 988

63,010

39, 82411,144

2,41882213

107, 592117,393

209

1.07.47

2.089

1.312

1.675

2,60291251

118,533125,902

209

1.05.46

2.129

1.330

1.700

r Revised. 1 July-December total. 2 Nov. 1 estimate of 1941 crop. > Dec. 1 estimate of 1940 crop. * Not available.§Data for 1939 revised; for exports, see table 14, p. 17, and for imports, table 15, p. 18 of the April 1941 issue. • Total ginnings to end of month indicated.1 Data for October 1940, January, April, July, and October 1941 are for 5 weeks; other months, 4 weeks.tMonthly data beginning January 1930, corresponding to monthly averages shown on p. 155 of the 1940 Supplement, appear on p. 18 of the April 1940 Survey.*New series. No earlier data available for cotton consumption byproducts. For monthly data on rayon yarn deliveries beginning 1923, see table 41, p. 16 of the October

1940 issue. The new rayon price series replaces the data shown in the 1640 Supplement; earlier monthly data are shown in table 30, p. 22 of the November 1941 issue.cFRevised monthly data for August 1939—July 1940 will be shown in a subsequent issue.0 I n September and October 1941, 542 and 7,927 bales, respectively, of raw silk were returned from mills to warehouses; these amounts are reflected in warehouse stocks

for September and October and should be deducted from the cumulative figures for deliveries.



1941

October

1940

October Novem-ber

Decem-ber

1941

Janu-ary

Febru-ary March . April May June July August Sep-

tember

TEXTILE PRODUCTS—Continued

WOOL—ContinuedReceipts at Boston, total thous. of lb__

Domestic doForeign do

Stocks, scoured basis, end of quarter, totaltthous. of lb

Woolen wools, total do _.Domestic doForeign do

Worsted wools, total . . do ___Domestic doForeign _ _ _ do _MISCELLANEOUS PRODUCTS

Fur, sales by dealers thous. of dolPyroxylin-coated textiles (cotton fabrics):

Orders, unfilled, end of mo.- thous. linear y d . .Pyroxylin spread thous. of lb__Shipments, billed thous, linear y d _

26,25311,73514, 518

v 1, 228

9,0097,4887,819

47,06030, 39316, 667

1,894

3.0125,8515,842

36,12316, 32819, 795

2,229

3,8015,7765,776

49, 5976,298

43, 299

142,15248, 38827, 65120, 73793, 76429, 00964, 755

2,901

3,6945,4635,718

50, 3654,633

45, 732

6,779

3,8965,9935, 881

51, 8094,129

47, 680

6,064

4,4436,2626,499

49, 4107,151

42, 259

164, 33150, 88626, 33324. 553

113,44517, 93395, 512

4,666

5,5206,7597,100

76, 21013,65562, 555

6,142

5,5887,1657,550

80,36029,17751,184

5,964

6,1377,3517,906

82,82732,83749,990

208,34562,21331, 79030,423

145,97053,93092,040

' 5,323

9,5587,4647,428

81,23242, 78038,452

'4,779

S. 070(), 4737,493

61,33626, 57034,765

' 5, 347

10,0387,1427,703

39,7049,661

30,043

188,49362,44534,76527,680

125,65257,33468,318

' 4, 287

8,747',7,097'8,017

TRANSPORTATION EQUIPMENT

AIRPLANESProduction, domestic civil aircraft number. -Exports§ do

AUTOMOBILESExports:

Canada:Assembled, total number..

Passenger cars doUnited States:

Assembled, total § doPassenger cars § do. _ _ _Trucks§ do

Financing:Retail purchasers, total thous. of doL.

New cars doUsed cars doUnclassified do

Wholesale (mfrs. to dealers) doRetail automobile receivables outstanding,

end of month* mil. of dol_.Production:

Automobiles:Canada, total number..

Passenger cars do.United States (factory sales), total do

Passenger cars doTrucks do

Automobile rims thous. of rims_.Registrations: %

New passenger cars number. _New commercial cars do

Sales (General Motors Corporation):World sales:

By U. S. and Canadian plants doUnited States sales:

To dealers do.To consumers do.

Accessories and parts, shipments:Combined index Jan. 1925=100__

Original equipment to vehicle manufac-turers Jan. 1925=100.

Accessories to wholesalers do.. .Service parts to wholesalers do__.Service equipment to wholesalers do

RAILWAY EQUIPMENTAssociation of American Railroads:

Freight cars, end of month:Number owned tbousands. _

Undergoing or awaiting classified repairsthousands . .

Percent of total on lineOrders, unfilled cars.

Equipment manufacturers d o . . .Railroad shops do_..

Locomotives, steam, end of month :Undergoing or awaiting classified repairs

number . .Percent of total onl ine

Orders, unfilled number.Equipment manufacturers do__.Railroad shops do__.

U. S. Bureau of the Census:Locomotives, railroad:

Orders, unfilled, end of mo., total doDomestic, total do.

Steam do.Other do.

Shipments, domestic, total do.Steam do_Other do.

11,1441,052

19,3605,635

382,000295, 56886,4322,024

179,120

162,543103,854

1,682

4.178,97457,58421,390

1,7789.628424044

938335

132

16, 8577,0719,786

151, 89989, 47561,933

492221, 253

1,115

21,1517, 056

493,223421,214

72,0091,759

290, 49548, 356

226,169

207, 934186,016

190

235149199142

1,638

1177.3

27, 45918, 7008,759

6,15515.4131122

269243125118528

44

697287

8,44993

19,9439,525

10,418

152, 00988, 57562,928

507220,941

1,137

23.62110, 814

487, 352407,09180, 261

1,808

301,43046, 618

217,406

198,064181, 421

183

231125180156

1,638

1147.1

30,18422, 7387,446

509367

13, 276611

18, 0177,782

10,235

160,95693. 35067,065

541253, 778

1,166

23, 36411,653

483, 567396, 53187,036

1,790

334, 07351, 095

223, 611

204,473174, 610

179

228122180143

1,644

1096.8

34, 20225, 8668,336

6, 07615.2116103

13

285244122122732449

5,91414.9115102

13

354315115200682246

645467

8,796

15,9127,2468,666

147,18680, 73965,939

509236, 871

1,181

23.19511. 990

500,863411, 233

89,6302,032

299,17961, 712

235,422

218, 578168,168

207

245115170162

1,642

1086.7

40, 03026, 42713,603

5,85314.7 I120 j107

13

574344

597481

8,5741,036

17, 2526,943

10, 309

158, 69389, 54168, 574

579248, 288

1,209

23, 71010,647

485, 622394, 51391,109

2,131

300, 46655, 900

226,609

208,214187, 252

214

244115174182

1,641

1076.6

37,98123, 78714,194

11,177797

21,0648,834

12, 230

202, 793118, 36983, 815

r»no270, 487

1.255

26,04412,093

507,832410,19697, 6362,666

420, 05867, 798

247,683

226, 592253, 282

210

232128168214

1,644

1016.3

41, 09127, 75613,335

593571

9,405312

18, 5368,5749,962

236, 800136, 46499, 582

754243,103

1,341

27, 58412, 091

462, 270374, 97987, 2912,682

489, 07470, 269

255, 887

233, 735272, 853

240

278132218199

511

14,457

21,9699,012

12, 957

248, 314141,024106, 502

787251, 490

1,433

26, 5859,840

518,770417, 698101,072

2,408

515, 03472,170

235, 679

217,120265, 750

252

282136215208

1,647 1,656

5,81214.7132113

19

5,704 I14.4 i

166 '148

18

965.9

55, 40442,16213, 242

5,53514.0 i21118922

i

460415129286631548

51546815731144

539

645602196406

681157

622 i575188387651055 !

945.8

64, 02749,10814, 919

5,18113.1231201

30

734686197

65

352

13,000378

13,4814,0569,425

238,040129,877107,445

718231,323

22,4862,099

12, 9756,9586,017

210,628110,62599,362

645202, 022

1,500 i 1,543

25, 7538, 538 .

520, 525418,983101, 542

2,309

443,47062,265

240, 748

224,119235,817

258 I

279140231229

1,661

855.2

91,41669,14022,276

4,862 |12.3 |265 i23431

876833249584737

66r Revised. *> Preliminary.^Does not include Australian wool held by the Defense Supplies Corporation. The total includes for June and September 1941 a comparatively small amount of certifi-

cated wool in licensed warehouses not included in the detailed figures.§Data revised for 1939. See table 14, p. 17, of the April 1941 Survey. Data on exports of airplanes have also been revised, beginning January 1940, to include exports

of "landplanes minus engines." Prior to 1940, these were not reported separately. Revisions for 1940 not shown above are: Jan., 233; Feb., 180;

24,6543,849

444, 241343,748100,493

2,061

391, 79567,412

224,517

204,695195,475

242

248154253221

1,666

794.8

88, 26666, 64121, 625

4,60711.7300266

34

942

291604

16,9323,263

20, 6166,706

13,910

172,80183,51888,724

55891,773

1,560

17,1923,160

147,60078,52969,071

1,532

246,59556,191

29,268

19,69084,969

246

258160242216

1,671

784.7

89,91765,81424,103

4,20810.731726948

964908291617

8,849619

15,6782,279

13,399

104,07943,42760,370

28189,333

1,494

14,4962,548

234, 255167,79066,4651,811

125, 29343,892

89,300

81,16952,829

282

271170298290

1,676

734.4

86,94363, 60723,336

4,02210 230926346

917861279582791267

Mar., 210; May, 309; othermonths were not affected. Beginning September, 1941 data on exports of airplanes are not available.

*New series. Data beginning"1936 are shown in table 33, p. 26 of the November, 1941 Survey.JData beginning June 1941 exclude Federal Government deliveries and are therefore not comparable with earlier data. For purposes of comparison, Federal Govern-

ment deliveries for January to May 1941, the only period for which separate data are available at present, are as follows: Passenger cars—Jan., 1,621; Feb., 765; Mar., 662;Apr., 614; May, 556. Trucks—Jan., 10,882; Feb., 5,776; Mar., 5,385; Apr., 6,033; May, 7,993.


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

1940

Decem-ber

1941

Janu-ary

Febru-ary March I April May June July Sep-

tember

TRANSPORTATION EQUIPMENT—Continued

RAILWAY EQUIPMENT—Continued

U. S. Bureau of the Census—Continued.Locomotives, mining and industrial:

Shipments (quarterly), total* number..Electric, total§ . - d o

For mining use. doOther* do

American Railway Car Institute:Shipments:

Freight cars, total doDomestic _ _ do

Passenger cars, total doDomestic do

E xports of locomotives, total doElectric ...doSteam do

7,5510, 626

2828

INDUSTRIAL ELECTRIC TRUCKSAND TRACTORS*

Shipments, total - - - number. _Domestic do..—Exports _ do

323306

17

3,7043,586

101019145

165157

4,1343,981

180174

132555277

4,6244,301

5454431

5, 2725,256

001284

4,1224,057

2217125

20216537

20617333

24221626

150585792

5,0224,987

21211165

26621452

5,4485,300

181824177

2632558

5,2204,670

4747421923

21718037

CANADIAN STATISTICS

Physical volume of business, adjusted:!Combined index 1935-39=100.-

Industrial production:Combined index -do

Construction -. .doElectric power doManufacturing do

Forestry doMining .do

Distribution:Combined index -do

Carloadings doExports (volume) doImports (volume) doTrade employment do

Agricultural marketings, adjusted:fCombined index do

Grain doLivestock do

Commodity prices:Cost oflivingf doWholesale prices 1926=]00..

Employment (first of month, unadjusted):Combined index do —

Construction and maintenance doManufacturing doMining doService- doTrade doTransportation do

Finance:Bank debits mil. of dol..Commercial failures number. -Life-insurance sales, new paid for ordinary!

thous. of dol-.Security issues and prices:

New bond issues, totalf doBondyieldsf 1935-39=100..Common stock pricesf do

Foreign trade:Exports, total thous. of dol..

Wheat thous. of bu_-Wheat flour thous. of bbl. -

Imports thous. of doL-Railways:

Carloadings thous. of cars-.Financial results: !

Operating revenues thous. of doL_Operating expenses doOperating income do

Operating results:Revenue freight carried 1 mile^mil. of tons..Passengers carried 1 mile mil. of pass-.

Production:Electric power, central stations

mil. of kw.-hr__Pig iron thous. of long tons..Steel ingots and castings. do .Wheat flour thous. of bbl..

.57

41. 740

341,627

139.67811,841

140,819

137223

129.0

146.4143.4108.8146.4124.7117.1

99.2108.8119.3148.8112.8

74.659.5110.5

107.083.3

136.2121.1143.8172.3147.3146.894.3

3,52779

31,210

108, 97698.674.2

106,7919. 659

750108, 645

281

40, 50428, 57310, 257

3, 547172

2,487109185

1,873

129.7

146.9278.2109.0146.9123.2128.0

100.3114.8132.7136.0112.5

118.2123.0106.8

107.883.9

139.2120.5144.6174.0148.8148.993.5

3,04992

32,899

108,57698.074.5

118,40417, 278

683102, 284

259

38,86926,96410, 024

3,371158

2,525110176

1,588

128.3

140.6187.4111.4142.3117.2123.5

107.1125.1119.9171.6116.8

146.4162.9107.0

108.084.2

139.1105.9144.7172.6147.8154.492.5

3,20895

33, 727

330,16797.070.3

98,71111, 762

346102, 302

231

40, 22128, 6029,944

3,772278

2,584110185

1,076

130.

145.244.116.141.126.122.

105.123.130.171.115.

5

137927

43503

126.1

138.3223.8115.7134.0121.3125.0

105.1118.8148.2152.7115.8

123.2

133.5139.0115.8137.3125.6122.8

105.6122.9147.4153.6117.9

146.9168.794.9

108.384.6

134.283.0142.5167.6149.5160.888.7

2,94179

28, 326

84, 23596.371.3

88,9534,880355

98, 382

229

36,11329, 2245,095

3,131201

2, 635103186

1,177

59.744.397.8

108.285.2

135.282.5147.4169.1148.6147.089.4

2,540105

31, 500

115,27196.166.5

100,5329,460607

89, 632

218

34, 62028, 5584,318

3,127217

2,40791173

1,462

50.833.593.4

108.285.9

135.383.0

150. 8168.7150.2145.790.5

2,83890

33,700

42, 52495.866.8

102, 99511,623

559107, 982

250

40, 61330, 9417,313

4.001218

2,632102195

1,477

2429794145

5,1365,130

1212251015

23828

5,5375,467

373728217

232

i

127.9

139.5181.5126.1140.3118.4121.8

108.1127.2169.2150.0120.5

113.6117.8105.4

108.686.6

141.3100.2158.2174.1158.3149.194.3

2,98467

35, 398

78,83095.965.8

118, 42520,322

850106, 268

252

41, 88730,1809,123

3,818225

2,693103201

1,661

132.0

143.3182.0129.1140.8114.0140.8

112.6136.5196.3145.9121.6

227.7284.394.3

109.488.5

145.5120.0162.3174.8165.6154.599.2

3,26684

36,172

115,11995.963.9

162, 66329, 6231,341

128,096

276

46,59532. 25711,068

4,387230

2,805114206

2,121

135.3

149.3292.3123.3141.1117.0125.6

111.3130.0182.1143.9121.8

145. 9163.6105.3

110.590.0

152.9139.5168.0177.2170.9156.899.2

4, 24172

33, 670

••876,92096.464.0

146,82223,1141,751

114,924

271

44,81732,1229,976

4,381248

2,688112187

2,118

138.5

150.2133.2130.8155.1131.0146.3

118.4141.7212.7167.3121.2

179.2204.1122.0

111.991.1

' 157. 4149.9

r 172. 5176.8179.8158.5103.7

3, 24258

32, 681

111,29095.867.5

170,90119,3461,922

127, 707

277

45,44235,2487,262

4,257318

2,661102197

2,117

3, 8863. 856

32322215

247230

141.2 |

156.1 |147.0126.1163.7129.8] 40. 9

115.6130. 6189.7

r 184.1

182.9217.4 :302.2

113.791.8

] 60. 6160.7176.9178.1184. 0156.8105. 0

3. 15067

' 83, 49795.467.8

150, 49614, 7211,437

137,913

279 |

46, 52435. 9887, 393

4, 323354

2. 640106203

1,852

797394

5.1685,044

38302514n

260253

.149.7

176.2169. 5136.2185. 9145.6126.0

113.0125.0169.2185.6

98.990.5

120. 8

114. 793. 2

33, 975

r 62, 52195.271.0

142,89711,341

661136,991

294

2.867112201

1,648

* Revised.fData on life-insurance sales revised beginning September 1936; for revisions see p. 56 of the September 1940 Survey. For revisions of new bond issues for 1939 see p. 56

of the March 1941 Survey. All Canadian index numbers to which this note is attached have been revised to a 1935-39 base; earlier data for these series will be shown in asubsequent issue. Common stock price and bond yield indexes have been converted to the new base by multiplying the old series by a constant. The production and distri-bution indexes have been completely revised and no comparable data prior to January 1940 are available at this time. Complete 1940 data for production and distributionindexes are shown on p. 56 of the April 1941 Survey.

JBeginning with July 1940, data are reported by the Industrial Truck Statistical Association and cover reports of 8 companies. They are approximately comparable withprevious data which were compiled by the Bureau of the Census.

§lncludes straight electric types only (trolley or third-rail and storage battery); data for 1939 and earlier years, published in the Survey, include some units of only partialUnited States manufacture and are not comparable with data here shown.

*New series. Comparable data on total shipments are available only beginning January 1940. "Other" includes Diesel-electric, Diesel-mechanical, and gasoline or steamlocomotives; these are largely industrial; for data beginning with the first quarter of 1939, see p. 55 of the May 1941 Survey.

U . S . G O V E R N M E N T P R I N T I N G O F F I C E : 1 9 4 1

ENDEX TO MONTHLY BUSINESS STATISTICS, Pages S1-S38

CLASSIFICATION, BY SECTIONS

Monthly business statistics:Business indexes _ _Commodity prices __ . .Construction and real estateDomestic tradeEmployment conditions and

wages .Finance.. _ _ _ _ _ . __Foreign tradeTransportation and communica-

tions _ _ _ _ _ _ __Statistics on individual industries:

Chemicals and allied products..Electric power and gas-_,

Fuels and byproductsLeather and products .Lumber and manufacturesMetais and manufactures:

Iron and steel ,Nonferrous metals and prod-

uctsMachinery and apparatus .

Paper and printingRubber and productsStone, clay, and glass products.Textile productsTransportation equipment.___._

Canadian statistics

PageS - lS~3S~4S - 6

S~7S-l 2S-19

S-20

S-21S-23S-24S-27S-29S-29

S-30

S-32S-32S 33S~34S-35S-35S-37S-38

CLASSIFICATION, BY INDIVIDUALSERIES

Pages marked SAbrasive paper and cloth (coated) ,__ 34Acceptances, bankers' „ 12Advertising __„ 6Agricultural cash income... 1Agricultural products, foreign trade 19Agricultural wages, loans . __ 12,13Air mail and air-line operations 6, 21Aircraft . 1,2,8,10,11,12,37Alcohol, denatured, ethyl, methanol 21Aluminum 32Animal fats, greases ,__ 22Anthracite . 2,3,9,10,27Apparel, wearing 3,4,6,8,9,10,11,36Asphalt 28Automobiles 1,2,3,6,8,10,11,12,19,37Automobile accessories and parts-- 37Banking _. _ . 12,13,14Barley . . . 25Bearing metal „ , 32Beef and veal _ 26Beverages, alcoholic 24Bituminous coal 2,3,9,10,27,28Boilers . . . . . . . 31Bonds, issues, prices, sales, yields- 16,17,18Book publication 34Brass and bronze 32Brick_ _ _ 35Brokers' loans . 13,17Building contracts awarded , 4Building costs 5Building expenditures (indexes) 4Building-material prices 3Butter 24Canadian statistics 15,19,37,38Canal traffic .__. 20Candy 27Capital flotations... . 16,17

For productive uses 17Carloadings - 20Cattle and calves 25Cellulose plastic products 23Cement 1,2,3,35Chain-store sales 6, 7Cheese 24Chemicals 1,2,3,8,9,10,11,12,14,15,21Cigars and cigarettes 27Civil-service employees 9Clay products 1,2,8,10,11,14,35Clothing (see also hosiery) 3,4,6,8,10,11Coal . . . . 2,3,9,10,27,28Cocoa 26Coffee 26Coke 28Commercial failures 14Commercial paper____ , 12,13Construction:

Contracts awarded 4Costs . 5Highways and grade crossings , 4,5Wage rates 12

Copper 32Copra and coconut oil __, 22Corn 25Cost-of-living index 3Cotton, raw, and manufactures 2,3,4,19,36Cottonseed, cake and meal, oil 22Crops _ . _ . . - 1,22,25,27,36Currency in circulation 15Dairy products 24Debits, bank ,_ 13Debt, United States Government 15Delaware, employment, pay rolls, wages. _ 9,10,12

Pages marked SDepar• ment stores: Sales, stocks, collections, 7Deposits, bank_____ 13Disputes, industrial 9Dividend declaration payments and rates._ 1,18Ea nings, factory, average weekly and

hourly____ . 11,12Eggs and chickens. ___ 1,3,26Electrical equipment. . . . . . 2,3,6,8,10,11,33Electric power production, sales, revenues._ 23Employment, estimated nonagricultural 7Employment indexes:

Factory, by cities and States - 9Factory, by industries . 8,9Nonmanufacturing . . 9

Employment, security operations.. . . . 9Emigration and immigration 21Engineering construction . , 4Exchange rates, foreign _ . 15Expenditures, United States Government.- 15Explosives . . . . . . _. 21Exports . 19Factory employment, pay rolls, wages 7

8,9,10,11,12Fairchild*s retail price index, . . . . . . . . 3Farm wages . . . 12Farm prices, index 3Federal Government, finances „_ 15,16Federal-aid highways and grade crossings.. 5Federal Reserve banks, condition of ___ 13Federal Reserve reporting member banks. . 13Fertilizers . _ . 21,22Fire losses, . _ _ _ _ . _ 5Fish oils and fish „_ 22, 27Fiaxseed___ . . 22Flooring „ _. 29Flour, wheat __. 25Food products. 1, 2,3,

4, 6, 8, 9, 10,11,12,14,15,19, 24, 25, 26, 27Footwear 1,2,4,8,9,10,11,29Foreclosures, real estate.. ._ ._ 5Foundry equipment „ . , 32Freight cars (equipment) 37Freight carloadings, cars, indexes .___.- 20Freight-car suplus___, , 20Fruits and vegetables . 3 t 25Fuel equipment and heating apparatus . 32,33Fuels- . . . .___ . 2,3,14,27,28Furniture . _ _. 30,31Gas, customers, sales, revenues. . . . . 23, 24Gas and fuel oils~_-___ 3,28Gasoline . . . . . . . . 19,28Gelatin, edible... - 27General Motors sales , 37Glass and glassware 1,2,8,10,11,12,35Gloves and mittens 29Gold . . . . 15Goods in warehouses 6Grains.. _.__.___._ . _—.. 3,17,25Gypsum . . . . . 35Hides and skins.-... _ - - _ - 29Hogs ,__ 26Home-loan banks, loans outstanding 5Home mortgages „ , 5Hosiery . . 35Hotels 21Housing ._ , . . . . 3,4Illinois, employment, pay rolls, wages 9,10,12Immigration and emigration - 21Imports _„__ 19,20Income payments.. 1Income-tax receipts.. 16Incorporations, business, new 6Industrial production, indexes , . 1,2Installment loans.. 13Installment sales, department stores- 7Insurance, life 14Interest and money rates . . 13,14Inventories, manufacturers'..- 3Iron and steel, crude, manufactures, 1,

2,3,4,8,10,11,14,15,30,31Ironers, household ,. 33Kerosene . . . . . 28Labor, turn-over, disputes 9,10Lamb and mutton .. 26Lard . . . 26Lead _._ __ 2,32Leather . 1,2,4,8,9,10,11,12,14,29Linseed oil, cake, and meal 23Livestock 26Loans, real-estate, agricultural, brokers'.. 5,13,17Locomotives . . 37,38Looms, woolen, activity 36Lubricants 28Lumber. . . . 1,2,3,8,10,11,29,30Machine activity, cotton, wool 36Machine tools 8,10,11Machinery . 1,2,3,8,10,11,14,15,19,32,33Magazine advertising 6Manufacturers* orders, shipments, inven-

tories 2,3Manufacturing indexes 1, 2Maryland, employment, pay rolls 9,10Massachusetts, employment, pay rolls,

wages „__ 9,10,12Meats and meat packing 1,

2,3,8,9,10,11,12,19,26Metals 1,2,4,8,9,10,11,15,30Methanol . 21Mexico, silver production 15Milk .___. 24Minerals 2,9,10Naval stores „ 22New Jersey, employment, pay rolls, wages. 9,10,12

Pages marked SNewsprint.. 34New York, employment, pay rolls, wages_ 9,10,12New York canal traffic . . . . .. 20New York Stock Exchange... 17,18Oats , 25Ohio, employment „ 9Oils and fats . 22Oleomargarine 23Orders and shipments, manufacturers* 2Paint sales , _ _ 23Paper and pulp____ 1,2,3,4,8,9,10,11,12,33,34Passenger-car sales index . 6Passports issued--. 21Pay rolls:

Factory, by cities and States 10Factory, by industries „ 10Nonmanufacturing industries 10,11

Pennsylvania, employment, pay rolls, wages. 9,10,12

Petroleum and products 1,2,3,8,9,10,11,12,15,28

Pig iron ___„__ ___ 30,31Porcelain enameled products 31Pork 26Postal business 6Postal savings 14Poultry and eggs 1,3,26Prices (see also individual commodities):

Retail indexes. _ _ . _ _ . 3r Wholesale indexes 3,4Printing . 1,2,8,9,10,11,12Profits, corporation.. 15Public relief _ . 12Public utilities ___ 4,9,10,15,17,18,19Pullman Co 20Pumps 33Purchasing power of the dollar- 4Radiators 31Radio, advertising . QRailways, operations, equipment, financial

statistics,employment, wages I ,2,9,10,12,16,17,18,20,37,38

Railways, street (see street railways, etc.).Ranges, electric . . 33Rayon _ . 2,4,36Reconstruction Finance Corporation, loans. 16Refrigerators, electric, household 33Registrations, automobiles 37Rents (housing), index 3Retail trade:

Automobiles, new passenger 6Chain stores, variety (5-and-10), grocery,

and other 6,7Department stores ___„ 7Mail order „ 7Rural general merchandise - . . . . . 7

Rice ___ 25River traffic 20Roofing asphalt . 23Rubber, crude, scrap, footwear, tires and

tubes 1,2,3,4,8,9,10,11,34,35Savings deposits . 14Sheep and lambs 26Shipbuilding.. 1,2,8,10,11,12Shoes . . . 1,2,4,8,9,10,11,12,29Silk 2,4,36Silver _ ._ 15Skins 29Slaughtering and meat packing.. 1,2,8,10,11,26Spindle activity, cotton, wool , 36Steel and iron (see iron and steel).Steel, scrap, exports and imports 30Stockholders.. . . . . 19Stocks, department-store (see also manu-

facturers* inventories) . 7Stocks, issues, prices, sales, yields 17,18,19Stone, clay, and glass products 1,

2,8,10,11,12,14,35Street railways and busses 9,10Sugar 26,27Sulphur _ 21Sulphuric acid 21Superphosphate 22Tea 27Telephone, telegraph, cable, and radio-

telegraph carriers 9,10,15,21Textiles 2,4,8,9,10,11,12,14,35,36,37Tile 35Tin 32Tobacco 2,8,9,10,11,12,27Tools, machine 8,10,11Travel . 21Trucks and tractors, industrial, electric 38United States Government bonds 17United States Government, finances . 15,16United States Steel Corporation 19,31Utilities 4,9,10,14,15,16,17,18,19Vacuum cleaners 33Variety-store sales index 6Vegetable oils 22Vegetables and fruits 3, 25Wages, factory, and miscellaneous 10,11,12Warehouses, space occupied 6Washers, household 33Waterway traffic __ ._ 20,21Wheat and wheat flour 19,25Wholesale price indexes 3,4Wire cloth 32Wisconsin, factory employment, pay rolls,

and wages 9,10,12Wood pulp _ _ 33Wool . _ 2,4,36,37Zinc 32

501791 - 1941 i^J

E

BUY^ United States *•

DEFENSESAVINGSBONDS —

Freedom of SpeechFreedom of PressFreedom of ReligionFreedom of AssemblyEqual Justice for All

TO PRESERVE A NOBLE HERITAGE ANDA SACRED TRUST.