UNITED STATESDEPARTMENT OF COMMERCE
WASHINGTON
SURVEY OFCURRENT BUSINESS
JANUARY, 1929No. 89
COMPILED BY
BUREAU OF THE CENSUSIN COOPERATION WITH
BUREAU OF FOREIGN AND DOMESTIC COMMERCE, > , AND;
BUREAU OF STANDARDS
IMPORTANT NOTICEIn addition to figures given from Government sources, there are also incorporated for completeness ofservice figures from other sources generally accepted by the trades, the authority and responsibilityfor wtiich are noted in the *' Sources of Data " on pages 139-142 of the August, 1928, semiannual issue
1 M ' ] ' \ ' ' i ' ' ' \ ) ' ' '
Subscription price of the SURVEY OF CURRENT BUSINESS is $1.50 a year; single copies (monthly), 40 cents, semiannual Jssues, 25 cents.Foreign subscriptions, $2,25; single copies (monthly issues), including postage, 14 cents; semiannual issues, 36 cents. Subscriptionprice of COMMERCE llBpo&TS is $4 a year; with the SURVEY, $5.50 a year. Make remittances only to Superintendent of Documents,Washington, D. C, by postal money order, express order, or New York draft. Currency at sender's fisk. Postage stamps or foreign
money not accepted,
, , , / B. *. OVERHMEHT PRIKTIIH OFFICE i >92 iDigitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
INTRODUCTIONThe SUBVEY ofr CURRENT BUSINESS is designed^to
Eresent each month a picture of the business situationy setting forth the principal facts regarding the vari-ous lines of trade and industry. The figures reportedare very largely those already in existence. Thechief function of the department is to bring togetherthese data which, if available at all, are scatteredin hundreds of different publications. A portion ofthese data are collected by Government departments,other figures aira compiled by technical journals, andstill others are reported by trade associations.
At semiannual intervals detailed tables &re pub-lished giving, for each item, monthly figures for thepast two years and /yearly comparisons, where avail-able, back to 1913; also blank lines sufficient for sixmonths have been left at the bottom of each table,enabling those who care to do so to enter new figuresps soop. as they appear (see August, 1928, issue). In theintervening mbnths the more important comparisonsonly are given in the table entitled " Trend of busi-ness movements."
i
WEEKLY SUPPLEMENTRealising th^t current statistics are highly peri^h-
able and that to be of use they must reach the businessman at the earliest possible moment, the departmenthas arranged to distribute supplements every week tosubscribers in the United States, The supplements areusually mailed on Saturdays and give such informationas has been received during the week ending on thepreceding Tuesday. The monthly information con-tained in these bulletins is republished in the SURVEY,and the supplements also contain charts and tablesof weekly data*
RELATIVE AND INDE# NUMBERS
To facilitate comparison between different impor-tant items and td chart series expressed in differentunits, relative numbers (often called "index num-bers," a term referring more particularly to a specialkind of number described below) have been calcu-lated. The monthly average for 1923-1925 hasusually been used as a base equal to 100.
The relative numbers are computed by allowing themonthly average for the base year or period to equal100; If the movement for a current month is greaterthan the base, the relative number will be greater thanlOb/and vice versa. The difference between 100 andthe relative number will give at once the per centincrease or decrease compared with the base period.Thus a relative number of 115 means an increase of 15per pent over the base period, while a relative numberof 80 means a decrease of 20 per cent from the base.
Relative numbers may also be used to calculate theapproximate percentage increase or decrease in a move-ment from one period to the next. Thus, if a relativenumber at one month is 120 and for a later month itis 144 there has been an increase of 20 per cent.
When two or more series of relative numbers arecombined by a system of weightings, the resultingseries is denominated an index number. The indexnumber, by combining many relative numbers, is
designed to show the trend of an entire group ofindustries or for the country as a whole, instead of forthe single commodity or industry which the relativenumber covers. Comparisons with the base year orwith other period^ are made in the same manner as inthe case of relative numbers.
RATIO CHARTSIn most instances the charts used in the SUBVEY
OF CURRENT BUSINESS are of the type termed "RatioCharts" (logarithmic scale), notably the BusinessIndicator charts on page 2. These charts show thepercentage increase and allow direct comparisonsbetween the slope of one.curve and that of any othercurve regardless of its location on the diagram; thatis, a 10 per cent increase in an item is given the samevertical movement whether its curve is near the bot-tom or near the top of the chart. The differencebetween this and the ordinary arithmetic form ofchart can be made clear by an example. Jf a certainitem having a relative number of 400 in one monthincreases 10 per cent in the following month, itsrelative number will be 440, and on an ordinarychart would be plotted 40 equidistant scale pointshigher than the preceding months. Another move-ment with a relative number of, say, 50 also increases10 per cent, making its relative number 55. On theordinary (arithmetic) scale this item would rise only 5equidistant points, whereas the previous item rose 40points, yet each showed the same percentage increase.The ratio charts avoid difficulty and give to eachof the two movements exactly the same vertical rise,and hence the slopes of the two lin$ are directlycomparable. The ratio charts cpmpare percentagechanges, while the arithmetic charts compare absolutechanges.
RECORD POOKAs an aid to readers in comparing present data
with monthly statistics in previous years, the depart-ment is compiling a BECORD BOOK OF BUSINESSSTATISTICS, in which data now carried in the SURVEYOF CURRENT BUSINESS are shown by months as farback.as 1909, if available, Full descriptions of thefigures and reports of how the data are ued in actualpractice by business firms are contained in the RECORDBOOK. The sections covering textiles and metals havealready been issued and may be obtained for 10 centsper copy from the Superintendent of Documents, Gov-ernment Printing Office, Washington, D. C. (Do notsend stamps.) Notices of other sections will be givenin the SURVEY as they are issued.
METHODS OF USEMethods of using and interpreting current business
statistics have been collected by the departmentfrom many business concerns and are described in abooklet entitled "How to Use Current BusinessStatistics/' together with methods of collecting sta-tistics. This booklet may be obtained from theSuperintendent of Documents, Government PrintingOffice, Washington, D. C., at 15 cents per copy. (Donot send stamps,)
This issue presents practically complete data for the month of November and contains text covering the early weeksof December (page 1), for which the basic figures in table and chart form are presented regularly in the weekly supplements.As most data covering a particular month's business are not available until front 15 to 30 days after the close of the month,a complete picture of that month's operations can not be presented at an early date, but the weekly supplements giveevery week the latest data available.Digitized for FRASER
http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
UNITED STATES DEPARTMENT OF COMMERCE
SURVEY OFCURRENT BUSINESS
COMPILED BY
BUREAU OF THE CENSUSI N C O O P E R A T I O N WITH
BUREAU OF FOREIGN AND DOMESTIC COMMERCE AND BUREAU OF STANDARDS
No. 89 WASHINGTON January, 1929
C O N T E N T SSUMMARIES
Preliminary summary for DecemberBusiness conditions in NovemberMonthly business indicators (table and chart)Wholesale prices (table and charts)Indexes of businessAutomobiles, building, mining, manufacturing (charts)Electric power, transportation (charts)
NEW DETAILED TABLES
Movement of wheat prices __Flaxseed movement at Minneapolis and DuluthMill receipts of flaxseed at Duluth and SuperiorLoan rates of agricultural land banks.Composite prices for specified commodities
Page14
2, 36, 7
1588
1819202020
INDEX BY SUBJECTS
TextilesMetals and metal productsFuelsAutomobiles and rubberHides and leatherPaper and printingBuilding construction and housingLumber productsStone, clay, and glass productsChemicals and oils _ __Foodstuffs and tobacco __ _ _ _Transportation and public utilitiesEmployment and wages _ _ _Distribution movement (trade, etc.) _ _ _Banking, finance, and insurance _ _Foreign exchange and trade _
Textpage
910111111
121212
13145
141414
Tablepage
212327
26, 28292930313334
35, 393941424346
PRELIMINARY SUMMARY FOR DECEMBERThe volume of money turnover during the early
weeks of December, as indicated by check payments,was greater than in either the preceding month or thesame month of last year. Steel plants, though show-ing less activity than in the preceding month, due toseasonal conditions, were on a higher operating planethan a year ago. The value of new building contractsawarded was on about the same level as in the corre-sponding period of 1927. Activity in the automobileindustry, as reflected by Detroit factory employment,was seasonally smaller than in November, but was con-siderably greater than in December a year ago. Earlyreports from trade sources indicate larger retail salesthan a year ago by mail-order houses, 10-cent chains,and department stores.
Loans and discounts of Federal reserve memberbanks were higher than in the previous month, show-ing a substantial gain also over a year ago. Interest
2754129 1
rates on time money continued to average higher,while call-money rates during December reached anew high point for recent years. Stock prices re-covered partially from the break which occurred dur-ing the first week of the month, while bond pricesaveraged lower than in either the preceding month orthe corresponding period of last year. The Federalreserve ratio continued to reflect declines from bothperiods.
The general index of wholesale prices averaged lowerthan in November, but was fractionally higher than ayear ago. Prices for wheat showed only little changefrom the preceding month but were lower than a yearago, while cotton prices averaged higher than in eitherperiod. Prices for iron and steel and copper were alsohigher than in either the preceding month or Decembera year ago. Business failures were less numerous thanin December of last year.
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MONTHLY BUSINESS INDICATORS, 1923-1928[Ratio chartssee explanations on inside front cover. The curves on check pa3/ments, wholesale trade, sales of mail-order houses and 10-cent chains, and department
stores have been adjusted for normal seasonal variations, and manufacturing production for the varying number of working days in the month as well]
!Q2^_l_j925_j_!926__i_l_?27_! J928_FACTORY'EMPLOYMENT ~~
1824 ! 1925 \ !92_6_l J827_ I J928
j I ! PIG IRON PRODUCTION I j11 i i I i . ! i ! ! U.lLJ._LLJ_L-L-Llj_i-.Lj_L-Li-.Li : , I i l^ jJ_LJ.-L-L-^ LJ-'..i-L-!-:-La-Ll-LJ-L i^-
COPPER PRODUCTION Lj-L-LJ-LU-i-Li-iJ I i i-.i.j-1-Lj..j-i i I
r r^^J "~!2TRIAL STOCKS ^^.Li1^J^^L In
BUlLDSSvG, CONTRACTS (FLOOR SPACEI-Li-l ! I I J-l-i I I .L^J-JLLJ-LL-l.ll-I-L
1926 1 1927 I 1928
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
MONTHLY BUSINESS INDICATORSThe principal business indicators are shown below, all calculated on a comparable basis, the average for the years 1923 to 1925,
inclusive. Thus the table gives a bird's-eye view of the business situation in a concise form, so that trends of the principal indicatorsmay be seen at a glance.
Certain indicators, in which there is a marked seasonal movement, art? shown with the average seasonal variations eliminated,as noted below. In this manner a more understanding month-to-month comparison may be made.
ITEM
Industrial production:* Total manufacturing* Total minerals
Pig ironSteel ingots _ .AutomobilesCementLumber (5 species)Cotton (consumption).Wool (consumption)
Raw material output:Animal productsCrops ._ _ __ .Forest productsCrude petroleumBituminous coalCopper . _
Power and construction:Electric powerBuilding contracts (37 States)
Unfilled orders:General index _..U. S. Steel Corporation
Stocks:General indexManfd. commodities (28)CottonCopper (refined)
Employment:Factories _
Prices:Farm products, to producersWholesale, all commoditiesRetail foodCost of living (including food)
Distribution (values):Bank debits, 141 citiesWholesale tradeDepartment stores, salesMail-order houses, sales10-cent chains, sales __ .ImportsExports
Transportation:* Car loadings
Freight, net ton-miles.. .
Finance:Member bank loans and discounts.Interest rate (commercial paper) . .Federal reserve ratioPrice, corporation bonds . .Price, railroad stocksPrice, industrial stocks.Failures (liabilities) . _
MONTHLY AVERAGE
1923 1924 1925 i 1828 1927
1927
Sept Oct. Nov. Dec.
192S
Jan. Feb Mar Apr.
1923-1935 monthly average 100
101.0105.0111.7104.8101.592.198.6
105.9112.8
100.092.099.099.4
108.093.4
92.589.7
121.7125.8
94.593.8
102.5106.4
106.6
97.899.797.698.1
91.2101.098.092.088.097.891.5
99.8102.2
94.1116.299.096.486.086.1
106.0
94.096.086.788.790.999.896.289 794.6
104.0104.097.096.992.5
100.2
98.192.7
87.083.6
102.0103.291.4
113.9
96.3
97.197.297.699.9
96.798.099.098.099.093.1
100.8
97.695.9
98.590.0
104.199.996.191.9
106.8
105.099.0
101.5106.4107.7108.1105.2104. 492.6
96.0104.0104.0103.799.5
106.4
109. 6117.6
91.390.6
103. 5103.0106.273.1
97.2
106.6102.6104.9102.3
111.9101 0103.0110.0113.0109.0107.8
102. 8101.9
107.493.596.9
103.6117.9122.087.2
108.0107.0109.0113 1108.5110.0101.5108.58S.7
96.0109.098.0
104.6109. 7110.2
122.6111.0
84.682.1
114.6106.3145.564.8
98.0
98.699.1
107.6102.3
119.698.0
106 0115.0125.0114.3105,5
106.8109.1
112.9100.996.0
108.0133.4132.480.4
106.0107.0101.0104.685.7
115.394 9
120.397.0
97.0113.093.0
122.399.4
104.9
133.3106.8
74.071.1
120.5111. 5153.285.4
94.3
94.995.4
103.699.9
132.595.0
106 0120.0138 0107.9106.8
104.0101.5
117.395.499 1
112.5162.7171.4102.3
105.0105.092.994.678.8
140.8105. 8122 3101.6
87.0183.098.0
123 695 9
100.0
131.7101.9
6fl.965.9
119.9114.0135.176.4
93.8
101.495.6
102.999.3
141.096. 0
109 0122 0141.0105.9112 0
130.0115.1
119.392.898.8
113.4171. 5193.977.3
102.0105.093.295.966.5
138 2101.5119.5103.7
95.0219.096.0
12fi 3104 6108.1
;38.2115.0
87.070.0
132.1108.6179 374.1
93.4
100.796.1
104.399.6
130.791.0
105.0117.0144.0110.1128.7
80.9122.1
120.092.896.4
114.4168.5186.485. f>
98.0101.088.690.540.7
116 894 4
122 167,8
92.0166.093.0
121 392 9
103. 2
137.1105.2
67.172.4
134.6110.7200 280.3
91 6
99.395 8
104 699.9
132.195 0
107 0119.0140 0106. ft121.4
95.299.8
121.492.892.2
114.9171.6190.085.3
99.0103. 090.291.940.596.582.9
105. 088.0
88.0120.086.0
122. 194.4
101.9
143.895.2
71.583.2
133.4111 6195.984.2
90.7
99.395.9
104.299.9
136.993.0
111.1,128.0147.0102.5107.4
96.892.7
123.292.886.5
116. 6171.1193.7120.9
107.0103.096.1
115.470.278.675 8
114.295.2
96.098.081.0
117.8101.5103.8
144.996.0
81.289.5
129.0115.0178.885.2
89.8
99.395.4
103.699.2
142.195.1
105.0113.0140.0104.6108.2
98.097.2
121.992.895.5
115.9169.1193.5112.3
111. 0103.097.1
117.098.170.886.7
111.6102.0
94.081.087.0
110.994.9
102.2
137.0103.7
81.692.1
130.0120.0159.176.8
91.2
97.895.5
101.398.4
149.697.0
105.0116.0142.0108.797.8
101.895.7
120.992.896.0
115.8164.7191.2106.3
110.0105.0107.1130.4125.282.396.3
113.398.7
97.077.096.0
122.2100.9106.6
144. 5132.7
81.490.8
127.0120.0135.877.1
91.8
99.395.1
101.298.1
164.892.8
105.0113.0142.0117.8110.8
129.0105.8
123.395.895.6
115.7170.1204.8129.3
110.0103.0106.6124.5124.2108.498.4
102.382.0
95.081.096.0
117.573.9
105.7
136 7142.4
76.881.1
122.0119.0117.764.4
91.4
101.496.5
101.697.9
161.889.2
103.0117.0147.01C6.995.9
83.096.1
127.3101.690.9
116.0176.0210.482.5
May
110.0105.0109.9121.6129.0139.0101.2112.592.7
108.072.0
101.0122.584.1
111.8
142. 1143.5
73.971.6
116.0118.095.558.6
91.2
107.297.7
102.898.4
168.896.2
104.0132.0144.0109.6111.1
106.4105.2
126.9104.489.2
115.0178.9213.685.2
June July Aug. 1 Sept Oct. Nov.
110.099.0
103.1108.3120. 2140.697.499.587.1
116.052.097.0
118.182.6
111.0
139.8142.2
75.276.2
109.0119.074.752.0
91.3
105.196.7
102.098.0
165.489.2
104.0144.0153.098.2
102.3
127.0100.0
128.4113.284.7
112.3169.6202.166.0
111.0101.0102.8110.3118.7140.492.785.780.4
108.087.088.0
122.983.3
111. 3
142.4123.7
77.174.8
104V0117.058.648.5
90.3
105.197.4
102.1es.o
140.493.7
108.0153.0148.098.499.8
82.0105.0
126.6119.088.9
110.9170.3206.169.8
113.0105.0105.0120.9139.7150.790.4
102.695.2
97.0114.090.0
126.894.4
116.7
149 8118.8
74.775.9
107.0114.052.448.4
91.7
100.798.0
103.098.0
149.998.5
106.0160.0144.0107.3100.1
102.9113. G
125.6124.890.0
109.8173.8213.4137.3
116.0108.0102.5120.0125. 8143.779.195.9
"92.0
178.078.0
124.594.8
118.8
145.2114. 2
74.777.4
115.2109.389.545.8
93.1
102.299.2
105.499.3
156.994.1
120.0154.0165. 099.0
111.1
132.4117.3
127.3130. 686.5
111.0178.5226.980.1
114.0114.0112 9134 5120 3141. 1
120.6108.6
102.0251. 084.0
129.8115.6131.1
158.0119.1
71.578 6
132.2108.7155.140.3
93.9
99 396 9
104 899 3
161 094 8
105. 0140 0148 0110.0145.1
852129.2
128 3127.6870
111 3176 4234.5fc2 5
111.0114.0110.5123 277.8
121 2
119.0 |105.7 !
92.0178 0
123.4105 7129.6
154.6111.1
72 976 9
135.6112.1181.446 1
93 5
97 1f 5 8
105 199.3
165 196.9
107.0141.0151.0101.2143 8
105 8
129 8124.884 5
112 0186 0252 695.8
* Seasonal adjustments.
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BUSINESS CONDITIONS IN NOVEMBERPRODUCTION
Industrial production during November, accordingto the weighted index of the Federal Reserve Board,showed a decline from the preceding month, afteradjustment for seasonal changes, but was 13 per centhigher than a year ago. The principal gains over lastyear occurred in automobiles, iron and steel, nonfer-rous metals, and rubber tires, where the increases weremore than 15 per cent. Mineral production, afteradjustment for seasonal conditions, also showed adecline from the previous month and a gain over lastyear.
last year, all groups showed larger unfilled orders,except textiles, which were lower.
Wholesale trade in November was larger than ayear ago, all lines showing larger sales volume thana year ago, except boots and shoes and women's cloth-ing, which declined, and groceries, which showed nochange. The largest gains over last year in wholesaletrade were registered by meats and furniture.
Sales by department stores showed no change fromthe preceding year, but were fractionally lower thanin October. Merchandise stocks held by departmentstores at the end of November were greater than in
PRODUCTION, STOCKS, AND UNFILLED ORDERS FOR MANUFACTURED COMMODITIES[1923-1925 monthly average=100. Adjustment has been made for the seasonal movement and relative number of working days for production. Unfilled orders are
principally those of iron, steel, building materials, and textiles. November, 1928, is the latest month plotted]
1923 1924 1925 1926 1927 1928COMMODITY STOCKS
Stocks of commodities held at the end of Novemberwere higher than at the end of either the previousmonth or November a year ago. The increase overlast year was due to slightly larger stocks of manu-factured goods, raw materials showing no change ininventories.
SALES
The general index of unfilled orders was higher thanat the end of either the previous month or November,1927. As compared with October, all groups showedlarger forward business except transportation equip-ment, which declined. Contrasted with November of
the previous month, but smaller than a year ago.Mail-order houses showed larger sales volume thanin November of last year, but registered the usualseasonal decline from the preceding month.
Chain 10-cent stores likewise reflected gains over ayear ago and a seasonal decline from the previousmonth. Sales by shoe chains were greater than ineither prior period. Grocery chains showed largersales volume than a year ago, but a decline from thepreceding month, while wearing-apparel chains, show-ing no change from the previous month, recordedlarger business than a year ago. Other chain-storetypes, including drugs, cigars, and candy, reflectedlarger business than a year ago.Digitized for FRASER
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PRICESWholesale prices, although lower than in October,
showed no change from the last year. As com-pared with October, all groups were lower in priceexcept metals and metal products, and building ma-terials, which advanced. Contrasted with a yearago, declines in the prices for farm products, foods,textiles, chemicals, and house-furnishing goods wereoffset by increases for- hides and leather products,fuel and lighting, metals and metal products, and build-ing materials. Classified by State of manufacture,all groups showed declines from the previous monthexcept semimanufactured articles. As compared withlast year, the decline in raw materials was offset bythe advance in prices for finished products. Commer-cial indexes showed higher prices to have prevailedin November than in the preceding month.
The index of prices received by farmers for theirproduce was lower in November than in either thepreceding month or November, 1927. The increaseover October in prices for dairy and poultry productsand certain unclassified items was insufficient to offsetdeclines in grains, fruits and vegetables, meat animals,and cotton. Increases over a year ago in prices formeat animals and dairy and poultry products wereinsufficient to offset declines in the remaining groups.
The cost-of-living index was no higher than in theprevious month but showed a change from a year ago.Food prices were higher than in either period.
EMPLOYMENT
Industrial employment, as reflected by the'generalindex of the Department of Labor, showed practicallyno change from the preceding month, but was higherthan a year ago. Compared with October, larger em-ployment was registered in the textile, iron and steel,paper and printing, and nonferrous metal industries,while declines were recorded in leather, stone, clayand glass, and vehicle factories. Contrasted with lastyear, all industrial groups showed larger employmentexcept textiles, leather, stone, clay and glass, and to-bacco products, which declined, and paper and print-ing, which showed no change.. Employment data from several States showed moreemployees on the pay roll than in the precedingmonth for Massachusetts and New Jersey, with de-clines from October registered for New York State,Maryland, Iowa, Illinois, and Wisconsin. Con-trasted with last year, employment was greater in No-vember, in the aforementioned States, except Massa-chusetts, New York, and Maryland.
Factory pay-roll payments in November showed a de-cline from the previous month, due to the shorter month,but were 4 per cent greater than a year ago. All groupsshowed smaller payments than in October, except paperand printing and nonferrous metals, which had largerpayments. As compared with a year ago, all industrialgroups showed gains except textiles, lumber, leather,stone, clay and glass, and tobacco products.
WEIGHTED PRICES FOR WHEAT
N0.2 RED WINTER, ST LOUIS
I 1.00
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f\" V-
NO. 2 HARD WINTER, KANSAS CITY
*..
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'.'*"-.. ...
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, , 1 . i 1 . , 1 . . , , 1 , i 1 , , 1 , .1920 1921 1922 1923 1924 1925 1926 1927 1928 1929
NOTE.The data presented on wheat prices have been changed, in cooperation with the Bureau of Agricultural Economics of the U. S. Department of Agricul-ture, to show average prices of cash sales of the most'important types of wheat in the three leading primary markets in the producing centers. This chart showsthe movements of these prices monthly since the beginning of 1920. The numerical data since the beginning of 1909 are shown on page 18 of this issue.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
6Wages for common labor showed no change fromthe previous month but averaged higher than a yearago. Industrial lay-offs in November were consid-erably smaller than in either the previous month or
November of last year. Industrial accessions, thoughsmaller than in October, were substantially largerthan a year ago. Discharges were smaller than inOctober but greater than in November, 1927.
WHOLESALE PRICES FOR SPECIFIED COMMODITIES[Relative numbers, 1926 monthly average taken as 100. November, 1928, is latest month plotted. Data from which these charts are drawn are given on the opposite page]
WHEAT .WINTER FLOUR, WINTER CORN, NO. 2T~
OATS
HAMS, SMOKED
120 c
SUGAR, RAW
L.LLSUGAR GRAN U LATE D COTTONSEED OIL RUBBER.CRUDE
*k^5:.8 4ao 4 u * .5.4 4 'V'j*-i- , ,. *'
COTTON, RAW COTTON YARN COTTON PRINT CLOTHf 43.4 43.4 7885
8373
9797381078894
October,' Novem-1927 i ber, 1927
84125531391351178697
82871161161191051341201021509080101
1081049212813276107107
1121151209897959583
168125113126102102
97103977166
8471
i9792711048894
8288114119121111116116104167778399
85911071028913113771111107
107109119989795
172132113126102102
96100976965
78
8171
9789781078894 i
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
8NEW BUILDING CONTRACTS AND AUTOMOBILE PRODUCTION[Relative numbers, monthly average, 1923-1925, taken as 100]
MINERAL PRODUCTION AND RAILROAD TON-MILEAGE[Relative numbers, monthly average, 1923-1925, taken as 100]
1928
FACTORY EMPLOYMENT, MANUFACTURING, AND ELECTRIC-POWER PRODUCTION[Relative numbers, monthly average, 1923-1925, taken as 100]
1928
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
9REVIEW OF PRINCIPAL BRANCHES
TEXTILESImports of wool showed a substantial decline from
November, 1927. Consumption of wool in Novemberwas somewhat smaller than in October but showed again over November of last year. Woolen machinerywas generally more active than in the preceding monthor the corresponding month a year ago. Prices forwool averaged higher than in either the previous monthor November, 1927.
Cotton consumption showed declines from boththe previous month and November of last year. Forthe first 11 months of the year consumption of cottonwas 12 per cent smaller than in the same period of1927. Stocks of cotton held at the end of November,
OF INDUSTRY AND COMMERCEdecline from the previous month but were larger thanlast year, while for the 11 months ended in November,silk deliveries were almost 4 per cent larger than inthe same period of 1927. Stocks of raw silk, heldboth at warehouses and manufacturing plants, werelower than a year ago. More narrow looms wereactive than in October but smaller activity was regis-tered in broad looms and spinning spindles. Theprice of raw silk averaged lower than in October butwas higher than a year ago. Prices for silk goodswere somewhat lower than in November of last year,showing only slight change in the preceding month.Imports of rayon were substantially lower than inNovember, 1927, while for the year to date, rayon
THE TEXTILE INDUSTRIES[Relative numbers, monthly average, 1923-1925, taken as 100. Where available, November, 1928, is latest month plotted]
BOL1923
1 1 1 1 1 11924
, I . . I . . I.. I . . I . . I.., I,.1927 1928
both at mills and in public storage, were 9 per centsmaller than a year ago. Raw-cotton exports showgains over both periods. Cotton prices at wholesalewere generally higher than in October but showeda decline from a year ago.
Cotton-spindle activity, reduced to a ratio tocapacity, showed gains in November over both thepreceding month and November of last year. Theoutput of cotton textiles also showed gains over bothperiods. Prices of cotton goods were somewhathigher than in October but showed declines in theprevious year.
Silk imports were greater than a year ago. Deliv-eries of silk to consuming establishments showed a
2754129 2
imports showed a decline from the same period oflast year amounting to more than 23 per cent. Rayonprices were unchanged from either the previous monthor November a year ago.
Fewer men's and boys' suits were cut in Octoberthan in either the previous month or October of lastyear. Hosiery production in October was greaterthan in September but showed a decline from thesame month of a year earlier.
Production of knit underwear in October was largerthan in either the preceding month or October a yearago. Shipments of underwear also showed gainsover both periods. Textiles spread with pyroxylinshowed a considerable gain over a year ago.Digitized for FRASER http://fraser.stlouisfed.org/
Federal Reserve Bank of St. Louis
10
METALS
Iron-ore shipments from the mines were largerthan last year. Pig-iron production, though showinga decline from October, was considerably greater thanlast year. For the 11 months ended November, pig-iron output was 3 per cent larger than in the sameperiod of 1927. Wholesale prices for pig iron continuedto average higher as compared with both prior periods.
The production of steel ingots, although showing adecline from October, was substantially greater thana year ago, while for the first 11 months of the year,steel-ingot output showed a gain over the same period
of the year showed a gain of 9 per cent over the sameperiod of last year.
New orders for machine tools continued to registeradvances over both the preceding month and thecorresponding period of 1927. Unfilled orders formachine tools were more than twice as large as a yearago. New orders for foundry equipment, as well asshipments, also showed gains over both periods.Sales of mechanical stokers in November were largerthan in either the preceding month or the samemonth of last year. Shipments of electric overheadcranes, though showing a decline from October, werelarger than last year. Shipments of motorized fire-
1 THE METAL INDUSTRIESRelative numbers, monthly average, 1923-1925, taken as 100. November, 1928, is latest month plotted. Curve covering zinc stocks is plotted from 12 months' moving
monthly averages plotted on the end month]
EXPORTS, REFINEDl\ I i ^rnuuuwnuN j
M\ AI SI/.. V .v \ / v |v -,...-
1923 1924 1926 1926 1927 1928 1923 1924 1925 1926 1927 1928160
r
1923 1924 1925 1926 1927 1928 1923 S924 1925 1926 1927 S928
of 1927, amounting to 14 per cent. Unfilled steelorders at the end of November were somewhat lowerthan in the previous month but were greater thana year ago. The output of steel sheets by inde-pendent manufacturers showed a decline from Octoberbut was larger than a year ago, with the total forthe 11 months ended November showing a gainof more than 20 per cent over the same period oflast year.
The production of steel castings, though decliningfrom October, was greater than in November, 1927.
New orders of structural steel were greater than ineither the previous month or November a year ago.Shipments of structural steel for the first 11 months
fighting equipment, though showing a decline fromthe previous month, were larger than last year.
The mine output of copper showed a decline fromOctober but was greater than a year ago, with thetotal for the first 11 months showing a gain of 8 percent over the same period of last year. Stocks ofblister copper in North and South America at the endof November were somewhat larger than a year ago.Exports of refined copper were considerably greaterthan last year while for the calendar year to date,copper exports showed a gain of about 8 per centover the same period of 1927. The wholesale price ofcopper continued to average higher as compared withboth the previous month and November of last year.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
11FUELS
The production of bituminous coal was smallerthan in October but showed a gain over last year.The output of bituminous during the first 11 monthsshowed a decline of 6 per cent over the same period oflast year. Anthracite production was lower than inOctober but higher than a year ago, while for the yearto date, anthracite output showed a decline from lastyear amounting to 5 per cent.
AUTOMOBILES AND RUBBER
The total production of automobiles, both passengercars and trucks, was smaller than in October but wasalmost twice as large as in November a year ago.For the calendar year to date, the production of auto-mobiles, totaling 4,124,000, was 26 per cent greaterthan during the first 11 months of 1927. For the pe-
HIDES AND LEATHERImports of hides and skins in November were smaller
than a year ago, but for the first 11 months of the yeartotal imports showed a gain of about 15 per cent overthe corresponding period of 1927. Prices for cattlehides averaged lower than in either the previous monthor November of last year, while prices for calfskins,although averaging lower than in October, were largerthan in last year. The production of sole leather wasgreater than a year ago. Exports of sole and beltingleather showed gains over both the previous monthand November of last year. Prices for leather aver-aged lower than in October but were higher than a yearago. The output of shoes was smaller than in Octoberbut greater than a year ago. For the calendar yearto date, shoe production was about 1 per cent|greaterthan in the same period of 1927.
THE FUEL INDUSTRIES[Relative numbers, monthly average 1923-1925 taken as 100. November, 1928, is latest month plotted where data were available]
1923 1924 1925 1926 1927 1928 1923 1924 1925 1826 1927 1928.,
1923 1924 1925 1926 1927 1923L-L.iJ-U-U.i-Lu-ijLjdj-lJ. I ! !,.
1925 1926 1927 1828
riod passenger-car production showed a gain of almost28 per cent, while the output of trucks showed anincrease of about 18 per cent. The production ofautomobile rims showed practically the same conditionreflected in the automobile industry.
Shipments of pneumatic tires in October weresmaller than in September but larger than a year ago.For the first 10 months of the year domestic shipmentsof pneumatic tires by manufacturers were 17 per cent
'-er than in the same period of 1927. Shipments ofduring the same period showed a gain of 6
1927.
PAPERThe output of newsprint paper in the United States
was larger than in either the preceding month orNovember of last year, but for the 11 months endedNovember, the total production was 6 per cent lowerthan in the same period of 1927. The Canadian out-put of newsprint in November also showed gains overboth prior periods, and for the 11 months ended No-vember was 14 per cent larger than during the corre-sponding period of last year. Stocks of newsprint atdomestic mills were greater than a year ago, whileCanadian mills showed smaller holdings.Digitized for FRASER
http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
12BUILDING AND CONSTRUCTION
Building costs were generally higher than in eitherthe previous month or November a year ago. Pricesfor building materials were generally higher than ineither period. The value of new building contractsawarded, though showing a decline from October, wasgreater than a year ago, while for the 11 months endedNovember the total value of new contracts wasalmost 7 per cent ahead of the same period of 1927.
LUMBER AND LUMBER PRODUCTS
The output of southern pine lumber was smallerthan in November a year ago. Douglas fir productionalso showed declines from last year. The production
STONE AND CLAY PRODUCTSThe output of face brick was lower than in either
the previous month or November of last year, butshipments showed gains over both periods. Ship-ments of face brick during the first 11 months of theyear were 9 per cent larger than during the sameperiod of last year. Prices for common brick averagedlower than in October but were higher than a year ago.New orders for terra cotta showed declines from boththe previous month and the same month of last year.
The production of Portland cement, though de-clining from October, was greater than a year ago.Cement production during the 11 months endedNovember was 2 per cent larger than in the sameperiod of 1927.
THE AUTOMOBILE AND RUBBER INDUSTRIES[Relative numbers, monthly average 1923-1925 taken as 100. Where available, November, 1928, is latest month plotted]
1921 1922 1923
500
192!i i i i i n i1923 1924 1925 1926 192'
M n l n l i i ' i i l i:7 1928
1925 1926 1927 1928 1921 1922 1923 I92 591197, 08625, 75820, 747
.236
.275
717369
2,5451,196
10514062
1,46325, 701
89, 50872, 439
996.67
73, 150
147, 602253, 854
9,000.57
34, 974331
6.75
5.00
4.15237, 043
114, 668138, 309147, 61117, 233
222, 116221,00844, 682
120, 4632.53
115, 94077
200, 656162, 184
114, 539198, 894173, 872
179, 334
40, 83852, 108
209, 04439, 744
3.25
Septem-ber
34, 4482,707
18, 5046,7284,902
249, 272203, 22724, 05921, 986
.246
.275
764352
2,5081,307
9616186
1,32423, 510
85, 99072, 243
733.65
66, 380
146, 010247, 386
9,093.57
31, 000275
6.75
5.00
4.15213, 945
108, 166122, 771133, 00621, 953
201, 646204, 37842, 510
124, 0482.53
102, 85274
185, 059169, 625
107, 894194, 233164, 648
170, 840
35, 68743, 800
191, 28748, 229
3.25
October
35, 9823,318
17, 8837,9933,785
253, 921209, 90223, 11820, 901
.219
.246
801405
3,7131,409
111200142
5 1, 44725, 711
83, 38875, 188
825.63
72,092
143, 265251, 35011, 174
.55
33, 300340
6.75
5.00
4.15236, 907
131. 558146, 382118, 18223, 884
228, 434231. 8005 40. 032149, 112
2.53
121, 61381
216, 602189, 240
120, 927221, 742200, 362
214, 228
36, 38037, 018
188, 98045, 289
3.25
Novem-ber
24, 7201,900
10, 1035,7734,517
.203
.242
762378
4,4551,189
106232135
1,249
1,063.59
10, 268.49
403
6.75
5.00
4.15
148, 089145, 443120, 82819, 627
219, 648218, 13241, 980
126, 7902.53
123, 785
223, 645
122, 880233, 280201, 416
196, 187
34, 69126, 254
3.25
1937
October
36, 3563,699
21, 5615,7003,195
248, 187200, 22027, 94220, 025
.233
.218
895413
2,9691,194
117208138
1,32524, 230
79, 60060, 811
800.55
70, 081
147, 790244, 268
12, 177.51
32, 267376
6.50
5.00
4.00244, 090
121, 051130, 465147, 16021, 190
213, 472213, 52438, 234
133, 1702.53
113, 12677
191,171184, 805
116,885188, 769175, 484
159, 284
27, 93935, 774
214, 87245, 789
3.25
Novem-ber
37, 3283,717
20, 6346,5854,676
249, 673203, 146
26, 97319, 554
.242
.228
881411
3,688!1, 070
132248133
1,24622, 704
79, 66959, 163
719.55
66, 056
148, 978250, 364
16, 530.51
25, 973433
6.50
5.00
4.00225, 779
137, 245143, 220158, 71728, 308
214, 936213, 77241, 552
142, 7362.53
117, 16679
190, 293185, 202
116,468187, 766188, 624
179, 969
28, 54338, 074
214, 63946, 176
3.25
PER CENT IN-CREASE (+) ORDECREASE ( )
Nov.,1928,fromOct.,1928
-31.3-42.7-43.5-27.8+19.3
-7.3-1.6
-4.9-6.7
+20.0-15.6-4.5
+16.0-4.9
-13. 7
+28.8-6.3
-8.1-10.9
+18.5
0.00.00.0
+12.6-0.6+2.2
-17.8-3.8-5.9+4.9
-15.00.0
+1.8+3.3
+1.6+5.2+0.5-8.4
-4.6-29.1
0.0
Nov.,1928,fromNov.,1927
-33.8-48.9-51.0-12.3-3.4
-16.1+6.1
-13.5-8.0
+20.8+11.1-19.7-6.5-4.9
+0.2
+47.8+7.3
-37.9-3.9
-6.9
+3.80.0
+3.8
+7.9+1.6
-23.9-30. 7+2.2+2.0+1.0
11. ^
+5.6+17.5
+5.5+24.2+6.8+9.0
+21.531.0
6.6
CUMULATIVE TOTALFROM JAN. 1
THROUGH NOV. 30
1937
407, 96541, 031
212, 76875, 96853, 567
8,7584,502
38, 76711, 789
1,0692,286
575
14, 5866 251, 064
8,909
6 670, 842
133, 768
6 294, 1105,133
6 2, 205, 991
1, 455, 8961, 515, 084
220, 623
2, 377, 6042, 375, 102
1, 277, 406
1, 365, 988
1, 900, 5136 1, 708, 743
1, 350, 4431, 876, 6611, 806, 395
1, 712, 664
1938
475, 52237, 081
262, 36384,22859, 149
7,8004,339
43, 93212, 434
1,0442,309
589
14, 9098 246, 613
9,401
6 684, 906
124, 529
6 295, 9073,976
6 2, 149, 070
1, 473, 1031, 511, 579
223, 708
2, 371, 2762, 379, 434
1, 313, 973
1, 289, 498
2, 173, 527 1, 734, 214
1,271,3742, 181, 4951, 947, 203
1,993,425
Per ct.in-
crease
or de-crease
cumulative1928from1927
+16.6-9.6
+23.3+10.9+10.4
-10.9-3.6
+13.3+5.5
-2.3+1.0+2.4
+2.2-1.8
+5.5
+2.1
-6.9
+0.6-22.5
-2.6
+1.2-0.2
+1.4
-0.3+0.2
+2.9
-5.6
+14.4+1.5
-5.9+16.2+7.8
+16.4
Revised. 8 Cumulative through Oct. 31.Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
30
TREND OF BUSINESS MOVEMENTSContinued
The cumulatives shown are throughNovember, except where otherwisenoted. Earlier data for items shownhere may be found on pages 28 to 137of the August, 1928, "Survey"
PAPER AND PRINTING ContinuedPrinting
Book publication:American manufacture no. of titles..Imported ...no. of titles..
Sales books:New orders thous. of booksShipments thous. of books
Printing activity weighted index number..Cash checks, shipments thous. of checks..Blank forms, new orders thous. of sets. .
Box BoardOperation thous. of inch hoursOperation per ct. of capacitvProduction short tons__New orders short tonsUnfilled orders, end of month short tons..Consumption of waste paper short tons...Shipments short tonsStocks, end of month.. _ short tons .Stocks of waste paper, end of month:
On hand short tonsIn transit and unshipped purchases, .tons. _
Other PaperBinder's board, production short tons..Book paper:
Production _ short tonsRatio to capacity per cent..
Shipments . . . short tonsStocks, end of month short tons..New orders-
Coated p. ct. of normal production..Uncoated.p. ct. of normal production..Coated. _ p. ct. of normal production..Uncoated.p. ct. of normal production..
Wrapping paper:Production . . .short tons
Ratio to capacity percent _Shipments short tonsStocks, end of month short tons..
Fine paper:Production short tons
Ratio to capacity per cent..Shipments short tonsStocks, end of month short tons..
All other grades:Production short tonsShipments short tonsStocks, end of month short tons..
Total paper (inc. newsprint and box board) :Production . short tons
Ratio to capacity per cent.Shipments short tons. .Stocks, end of month _ .short tons
Paper Board Shipping BoxesProduction:
Total thous. of sq. ft..Corrugated. _ _ .thous. of sq. ftSolid fiber thous. of sq ft
Operating activity:Total per cent of normal..Corrugated ...per cent of normalSolid fiber. per cent of normal..
Other Paper ProductsRope paper sacks, shipments .__rel. to 1921-22..Abrasive paper and cloth:
Domestic sales reams. _Foreign sales _ reams
BUILDING CONSTRUCTION ANDHOUSING
Rental advertisements, Minneapolis, .number..Building Costs
Building materials:Frame house, 6-room rel. to 1913Brick house, 6-room rel. to 1913
Concrete factory costs (Aberthaw) _ _ rel. to 1914_.Building costs (Eng. News Record) _rel. to 1913Building costs (A. G. C.) rel. to 1913Plumbing fixtures, 6 pieces dollars..Construction costs (Am. Appraisal):
Frame rel. to 1913..Brick, wood frame rel. to 1913. _Brick, steel frame rel. to 1913. .
Reinforced concrete rel. to 1913..
1928
July
555128
12, 0989,986
9670, 71048, 963
7,99276. 2
201, 153209, 976
79, 492190, 810203, 74149, 969
132, 26562, 056
2,153
117, 49280
118,31488, 491
7780
108
88, 47786
94, 22892, 467
33, 98480
34, 56253, 156
95, 45496, 05670, 575
646, 86377
656, 498396, 044
404, 520235, 73268, 788
727175
89
81, 68917, 657
4,060
175181191207198
100. 09
204213198201
August
551169
12, 53813, 738
9768, 48258, 108
9, 23681.6
230, 750236, 68281,816
213, 626233, 10447, 709
117, 00948, 108
3,092
130, 41689
133, 02485, 836
7779
87
100, 77989
100, 17493, 340
39, 33184
38, 93853, 535
110, 677109, 15472, 438
727, 89378
728, 933393, 696
441, 792364, 75677, 036
797784
111
99, 78917, 875
7,712
177181191207200
101. 21
204213198201
Septem-ber
835261
11,83711,976
10585, 48950, 114
8,34483.0
224, 971234, 44987, 097
237, 361228, 88045, 271
116, 19753, 344
2,431
117, 37486
120, 89582, 403
8180
10
83, 58284
86, 17391, 977
34, 88580
34, 88553, 361
100, 138102, 43770, 140
663, 80284
681, 164378, 839
434, 371359, 553
74, 818
797880
102
95, 13118, 281
7,930
177181191208201
101. 13
204213198201
October
933160
13, 95814, 605
11386, 88967, 957
9,32181.9
243, 664238, 720
81, 298239, 276244, 86243, 167
127, 31172, 960
2,644
132, 63387
133, 42981, 579
8386
108
96, 05385
94, 90093, 416
39, 68084
3 39, 83953, 788
5 112, 529115, 56361, 422
5 746, 172
835 749, 520369, 752
454, 662374, 34280, 320
888983
113
98, 57620, 085
6,454
179184191209202
100. 67
204213197201
Novem-ber
765104
12,73013, 080
81, 20459, 429
8,43080.0
240, 840243, 59189, 741
218, 278237, 34147,661
126, 78048, 707
127, 32890
125, 80083, 211
8480
107
91, 24987
87, 69096, 979
38, 41888
57,61154, 395
105, 772104, 44863, 578
727, 39292
715, 770380, 518
454, 354370, 30284, 052
828279
4,886
177182190210202
100. 79
204213197201
1927
October
891143
13, 85112, 898
10571, 62537, 258
8,80380.8
224, 195220, 215102, 810219, 627226, 64741, 630
126, 04057, 936
2,537
109, 39183
110, 81374, 234
7685
89
92, 79587
92, 42480, 907
38, 81492
38, 89250, 903
103, 058103, 040
72, 594
681, 37981
688, 701348, 253
427, 263348, 835
78, 428
858583
85, 15518, 389
6,711
181185191202201
104. 71
205215196201
Novem-ber
738102
12, 12613, 086
10482, 09336, 614
8,30879 3
213, 056184, 55176, 032
203, 962218, 830
41, 105
128, 63950, 276
2,400
111,57985
109, 34776, 461
7777
98
93, 47982
91, 32979, 653
36, 66587
37, 39850, 173
98, 74999, 25169, 106
670, 69479
666, 623345, 041
395, 491320, 51174, 980
777681
72, 72616, 392
4,290
180184191204200
104. 33
205215196200
PER CENT IN-CREASE (+) ORDECREASE ( )
Nov.,1928,fromOct.,1928
i
-18.0-35.0-8.8
-10.4n e
-12.' 5
-9.62 3-1.2+2.0
+10.4-8.8-3. J
+ 10.4
-0.4-3.2
-4.0+3. 4-5.7+2.0+1.2-7.0
0.0-12.5-5.0+2.4-7.6+3.8-3.2+4.8-5.6+ 1.1-6.0-9.6+3.5-2.5
+10.8-4.5+2.9
-0.1-1.1+4.1
-6.8-7.9-4.8
24 3
-1.1-1.1
0 5+0.5
0.0+0.1
0.00.00.00.0
Nov.,1928,fromNov.,1927
+3.7+2.0
+5.00.0
-1.1+62.3
+1.5+0 9
+13.0+32.0+18.0+7.0+8.5
+16.0-1.4+3.1
+14.1+5 9
+15.0+8.8+9.1+3.9
+ 11.1-12.5-2.4+6.1
/j Q+21.8+4.8+ 1.1+0.6+8.4+7.1+5.2-8.0+8.5
+16.5+7.4
+10.3
+ 14.9+ 15. 5+12.1+6.5+7.9-2.5
+13.9
-1.7-1.1
0 5+2.9+1.0-3.4-0.5-0.9+0.5+0.5
CUMULATIVE TOTALFROM JAN. 1
THROUGH NOV. 30
1927
8,0191,252
134, 928130, 23S
842, 048370, 033
89, 200
2. 289, 0962, 295, 882
2, 882, 4982, 196, 023
6 25, 34G
1, 221, 088
1, 210, 791
998, 292
972, 247
408, 581
410, 594
1, 100, 1761, 095, 621
7, 383, 222
7, 337, 389
4, 377, 8733, 512, 054
865, 819
e 848, 9906 160, 170
57, 679
1928
7,69i'1, 599
137, 681135, 480
858, 904547, 815
93, 383
?, 476, 5852, 491, 672
2, 914, 3302, 329, 825
6 30, 750
1, 386, 040
1, 378, 148
1, 031, 344
1, 019, 504
424, 455_ ..
420, 417
1,139,9731, 134, 729
7, 716, 314
7,696,178
4, 596, 422'3, 599, 829;
847, 934
1
6 901, 1906 185, 144
54, 951
Per ct.in-
crease
or de-crease
cumu-lative1928from1927
-4.1+27.7
+2.0+4.0
+2.0+48.0
+4.7
+8.2
+1.1+6.1
+21. 3
+13.5
+13.8
+3.3
+4.9
+3.9
+2.4
+3.6+3.6
+4.9
-4.9
+5.0+2.5+2.1
+6.1+15.6
-4.7
r ~ "
5 Revised. 3
Cumulative through Oct. 31.Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
31
TREND OF BUSINESS MOVEMENTSContinued
The cumulatives shown are throughNovember, except where otherwisenoted. Earlier data for items shownhere may be found on pages 28 to 137of the August, 1928, "Survey"
BUILDING CONSTRUCTION ANDHOUSING Continued
Contracts and Losses
Contracts awarded (36 States):Commercial buildings thous. of sq. ft..Industrial buildings thous. of sq. f t _ _Residential buildings thous. of sq. f t_ .Educational buildings thous. of sq. f t_ .Other public and semi-
public buildings thous. of sq. ft-.Grand total thous. of sq. f t_ .
Contracts awarded, value (36 States):Commercial buildings thous. of dolls -Industrial buildings thous. of dollsResidential buildings thous. of dollsEducational buildings thous. of dolls. .Other public and semi-
public buildings . _ .thous. of dolls _.Public works and utilities.. .thous. of dolls _ _
Grand total thous. of dollsContracts awarded, Canada thous. of dolls. -Building volume (A. G. C.) . rel. to 1913. .Fire losses:
United States and Canada(Journal of Commerce) thous. of dolls. _
Canada (Monetary Times) .thous. of dolls ..LUMBER PRODUCTS
Softwood Lumber
Southern pine:Production (computed) _.M ft. b. m_.Operation per cent of full time__Shipments (computed) ... M ft. b. m__New orders (computed) M ft. b. m. .Stocks, end of mo. (computed) __M ft. b. m__Unfilled orders,end mo, (comp,) M ft. b. mExports, lumber M ft. b. mExports, timber - _ _ M ft. b. mPrice flooring dolls, per M ft. b. m
Douglas fir:Production (computed) M ft . b . m. .Shipments (computed) M ft. b. mNew orders (computed) M ft . b . m. .Unfilled orders (computed) M ft. b. m..Exports lumber M ft. b. mExports, timber M ft. b. m..Price, No. 1 common. .dolls, per M ft. b m._Price, flooring, 1x4, "B" and
better V G dolls per M ft b mCalifornia redwood:
Production (computed) M ft. b. m..Shipments (computed) M ft. b. m__New orders (computed) M ft. b. m _ _Unfilled orders, end mo. (comp.).M ft.b.m..
California white pine: *Production M ft. b. mShipments M ft. b. m__Stocks, end of month M ft. b. mNew orders M ft. b. mUnfilled orders, end of month.. M ft. b. m__
Western pine:Production (computed) M ft. b. mShipments (computed) M ft. b. m__Stocks, end of mo. (computed) _M ft. b. m_.Unfilled orders, end of mo.
(computed) M ft. b. mNorth Carolina pine:
Production (computed) M ft. b. m._Shipments (computed) M ft. b. m__New orders M ft. b. m
Northern pine:Lumber-
Production M ft. b. mShipments M ft. b. mNew Orders M ft. b. m
Lath-Production thousandsS hipments _ thousands
Northern hemlock:Production M ft. b. mShipments M ft. b. m
Hardwood Lumber
Walnut lumber:Production M ft. b. mShipments M ft b mStocks, end of month M ft. b. mNew orders M ft. b. mUnfilled orders, end of month. M ft. b. m _ _
1928
July
16, 8356,214
43,0935,586
6,60578, 778
93, 14431, 193
221, 34535,315
50, 380132, 853564, 22938, 36C
237
17, 1061,491
405, 9378?
435, 223434, Del
1, 063, 109335, 83662, 09412, 30236.16
415,417484, 80?453, 467456, 601
54, 18145,471
16.99
36.12
30,09229,61531, 62C48, 91C
123, 923105, 482506, 11996, 433
190, 185
190, 727166, 087833, 576
118,791
44, 47148, 43343, 190
52, 38448, 30041, 820
13, 4769,734
16, 34818, 920
2,5272,742
13, 1162,7315.088
August
11,9748,548
42, 8595,418
6,39278, 638
57, 17841,318
207, 52133, 559
45, 470114, 714499, 76C39, 448
239
17, 7242, 35P
425, 49387
468, 67?479, 370
1, 019, 050339, 03S43, 287
7, 46536.34
358, 566389, 454381, 39P257, 84f
59, 23640, 837
17. 75
37.19
41, 13743, 98339, 85545, 093
145, 491118, 310516, 764102, 805181,014
175, 978182, 662905, 298
113, 660
45, 43748, 64349, 560
57, 33547, 75541, 435
12, 31811, 099
20, 44922, 661
2,9312,863
13, 1662,9905.270
Septem-ber
11, 44210, 34838, 7445,6516,278
73, 146
58, 525112, 925196, 85037, 088
51,317115, 808572, 51345, 439
266
17, 1831,739
386, 67188
423, 218434, 884991, 781340, 87540, 83714, 89737.73
296, 343315, 144322, 754293, 657
64, 26544, 264
17.32
38.85
34, 32933, 10733, 51947, 916
122, 708105, 24(538, 13C
86, 716188, 747
37, 45739, 90050, 890
51, 61844, 61844, 209
12, 4198,897
15, 31519, 951
2,7493,299
12, 6252,6354.741
October
13, 1949,705
48, 2984,876
6,77782, 906
63, 26361, 170
234, 65430, 746
46, 820146, 041582, 69344, 585
243
22, 4141,795
427, 62390
464, 558444, 566954, 846320, 88375, 50414, 10437.73
337, 527301, 267302, 610297 68665, 79539, 330
18. 06
40.61
27, 85132, 74433, 11540, 350
126, 086119, 074552, 422100, 760183, 493
48, 09051, 59058, 870
55, 03151, 37841, 109
11, 7778,937
16, 42521, 042
2,8573,419
12, 2494,1745.483
Novem-ber
13,0506,518
40, 5324,290
5,21870, 599
65, 46935, 434
194, 02828, 719
39, 14588, 503
452, 23429, 038
222
' 22, 2881,662
396, 25686
413, 295392, 674952, 395300, 26261, 759
7,56237.98
60, 947 i47, 598|
17.92
40. 88
45, 83438, 71538, 84832, 783 1
107, 50194, 587
562, 528 !81, 755;
181, 665|
51, 54849, 19658, 310
26, 71841, 30830, 282
5,2306,560
2,8063,478
11, 6683,0335.117
1927
October
11,8215, 544
45, 6084,103
6,39373, 765
77, 72650, 370
236, 87029, 699
48, 555105, 932549, 15247, 135
222
22, 3271,778
438, 70S
446, 69f453,811
1, 190, 112346, 71548, 63717, 54237.98
538, 96491, 07C464,21]
56, 20415,498
15.17
43, 14?42, 67f36, 49245, 431
109, 49G111, 508623, 67197, 683
189, 947
134, 691153, 019
1, 069, 825
57, 29556, 13342, 560
41, 14839, 17533, 698
9,0347,941
9,18817, 914
2, 9212,967
11, 7392,3356.982
Novem-ber
7,4516,382
41,0024, 477
6,01466, 560
41, 89349, 203
207, 30830, 642;45, 744 !68, 716
443, 50630, 260
215(
18, 9921, 309,
439, 773
442, 920 !436, 385i
1,194,404;305, 164;
43, 55018, 925 j36. 42|
497, 337411,389452, 124
61, 99947,711
15.48
35.08
52, 92540, 57S41, 37645, 962
92, 28982, 168
624, 65170, 343
222, 25S
118, 70^124, 083
1, 068, 630
53, 52250, 81347, 67C
32, 81c32, 85727, 569
6,1445, 377
11, 02C14, 261
3, 23^2,82^
12, 1493, 1276. 282
PER CENT IN-CREASE (+) ORDECREASE ( )
Nov.,1928,fromOct.,1928
-1.1-32.8-16-1-12.0
-23.0-14.8
+3.5. -42. 1
-17.3-6.6
-16.4-39.4-22.434 g-S. 6
0.6-7.4
-7.3
11.0-11.7-0.3-6.4
-18.2-46.4-0.4
Nov.,1928,fromNov.,1927
i
+75.1+2.1-1.1-4.,2
-13.2+6.1
+56. 3-28. 0:-6.4-6.3
-14.4+28.8+2.0;-4.0;+3.3
+17.4:+ 27. 0;
-9.9-6.7
-10.0-20.3-1.6
+41.8-15.3+3.2i
-7.4+21.0-0.8
+0.7
+64.6+18.2+17.3-18.8
-14.7-20.6+1.8
-18.9-1.0
+7.2-4.6-1.0
-51.4-19.6-26.3
-55.6-26.6
-1.8+1.7-4.7
-27.3-6.7
-1.7-0.2
+15.8+16 5-13.4!-4.6!-6.1
-28.7+16.5!+15.1-9.9
+ 16.2!-18.31
-3.7-3.2
+22.3
-18.6+25.7+9.8
-14.9+22.0
-13.2+23.2-4.0-3.0
-18.5
CUMULATIVE TOTALFROM JAN. 1
THROUGH NOV. 30
1927
123,06163, 689
435, 53049, 481
70, 591751,504
811,886447, 676
2, 287, 141346, 314
603,6961,121,0585, 619, 782
382, 269
288, 66220, 720
4, 754, 261
4, 740, 6474, 843, 073
658, 500165, 465
6 5,037 381
6 5, 097, 909
6 5, 087, 518
634, 783473, 395
451,285480, 709492, 520
1, 024, 1861, 037, 137
954, 166
565, 712565, 810454, 370
462, 138427, 040389, 988
114, 422115, 976
6 167, 7036 203, 199
32, 16932, 220
32, 624
1928
139, 40285, 446
512, 13856,490
65, 621867, 627
783, 204568, 956
2, 540, 380361,457
502, 4521,213,3605, 988, 976
453, 128
271, 76422, 633
4, 612, 464
4, 882, 6724,879,437
646, 670154,318
6 4, 325, 623e 4, 539, 2116 4, 680, 606
708, 552454,494
429, 262416, 329422, 449
1, 151, 3001, 124, 307
982, 863
540, 96f561, 035582, 720
477, 735467, 177425, 802
101, 26192, 223
e 166, 7126 171, 740
32, 05733, 32t
33, 203
Per ct.in-
crease(t}or de-
crease(-)
cumu-lative
1928from1927
+13.3+34.2+17.6+14.2
-7.0+15.5-3.5
+27.1+11.1+4.4
-16.8+8.2+6.6
+18.5
-5.9+9.2
-3.0
+3.0+ 0.8
1.8-0.7
-14.1-10.6-8.0
+11.6-4.0
-4.9-13.4-14.2
+12.4+8.4+3.0
-4.4-0.8
+28. 2
+3.4+9.4+9.2
-11.5-20.5-0.6
-15.5
-0.3+3.4
+1.8
6 Cumulative through Oct. 31. ' See table on p. 48 of the September, 1928, issue for earlier data.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
32
TREND OF BUSINESS MOVEMENTSContinued
The cumulatives shown are throughNovember, except where otherwisenoted. Earlier data for items shownhere may be found on pages 28 to 137of the August, 1928, "Survey"
LUMBER PRODUCTS-Continued
Hardwood Lumber Continued
Walnut logs:Purchased M ft. log measureMade into lumber and
veneer _ M ft. log measure. _Stocks, end of month M ft. log measure
Northern hardwoods:Production M ft. b. mShipments M ft. b. m
Lower Michigan hardwoods:Production _ _ _ _ _M ft. b. m._Shipments M ft. b. mStocks, end of month _M ft. b. m _
Gum:Stocks, total, end of month .mill. ft. b. m__Stocks, unsold, end of month.mill. ft. b. m__Unfilled orders, end of month.mill. ft. b. m__
Oak:Stocks, total, end of month.. mill. ft. b. m__Stocks, unsold, end of month.mill. ft. b. m__Unfilled orders, end of month.mill. ft. b. m__
All hardwoods:Production mill. ft. b. m__Shipments . . mill. ft. b. m__New orders mill. ft. b. m._Stocks, total, end month mill. ft. b. m_.Stocks, unsold, end month mill. ft. b. m._Unfilled orders, end month. ..mill. ft. b. m _ _
Production, 10 species M ft. b. mExports planks joists etc M ft. b. mRetail yards, Minneapolis district:
Sales M ft. b. mStocks, end of month M ft. b. m .
Retail yards, Kansas City district:Sales M ft. b. mStocks, end of month M ft. b. m _ _
Composite lumber prices:Hardwoods dolls, per M ft. b. m__Softwoods dolls, per M ft. b. m._
FlooringMaple flooring:
Production M ft. b mShipments M ft. b. mStocks, end of month.. M ft. b. m _ _New orders M ft. b. mUnfilled orders, end of month. _M ft. b. m__
Oak flooring:Production M ft. b. mShipments M f t b mStocks, end of month M ft. b. mNew orders M ft. b. m _ _Unfilled orders, end of month _.M ft. b. m__
Doors at Wholesale
Fir, manufacturing plants:Production number. _Shipments numberStocks, end of month number..New orders number..Unfilled orders, end of month number..
Wooden Furniture
Grand Rapids district:Unfilled orders, end of
month No. of days' production. _New orders No. of days' production..Shipments No. of days' productionOutstanding accounts, end of
month.. _ No. of days' sales..Cancellations per cent of new orders.Plant operation per cent of full time..
Piano benches and stools:New orders (average per firm) dollars..Unfilled orders, end of month
(average per firm) _ . _ dollarsShipments-
Value (average per firm) dollars ._Quantity (total) pieces. _
Plywood and Veneer
Douglas fir plywood:Production thous. of sq. ft. of surfaceShipments thous. of sq. ft. of surface. _New orders (sales). thous. of sq. ft. of surface..Unfilled orders, end of
month thous. of sq. ft. of surface. _Stocks, end of
month thous. of sq. ft. of surface..
1938
July
2,633
2, 5272,996
23, 67326, 194
5,4387,252
20, 605542419124
974809165244263262
2,7862,225
5472, 204, 457
185, 36815, 93787, 3455,679
44, 874
40.0628.81
7,7848,311
24, 6677,466
10, 07646, 06547, 83268, 85145, 97249, 912
434, 299431, 800302, 990327, 387470, 617
543122
485.0
88.0
4,662
1,183
4,9146,223
8,2188, 3878,782
7,494
7,251
August
2,736
2,5793,058
20, 07327, 5975,5027,349
23, 509543410132959800159263285289
2,7712,211
5572, 206, 862
162, 221
17, 63286, 807
6,14045, 32639.9829.00
8,4139,515
23, 2328,851
10, 18751, 52951, 86067, 86449, 42747, 026
314, 154344, 643267, 118227, 311344, 094
533031
567.0
92.06,396
2,323
5,2516,020
11, 09410, 98811, 0308,024
7,358
Septem-ber
2,274
2,6432,684
16, 62425, 0864,9156,467
20, 915529396133954775161270293293
2,7312,164
5661,927,716
170, 45717, 86084, 9846,497
45,529
39.9129.27
7,6757,929
22, 5547,110
10, 10645, 92645, 02068, 45643, 14147, 099
273, 076305, 555238, 399237, 769300, 106
49313065
9.0101.09,508
3,012
8,3439,826
9,4269,257
10, 2457,7157,309
October
2,702
2,6062,636
16, 72731,473
532398134918746171
285315323
2,7222,132
5892,119,283
204, 979
18, 24281, 0357,008
45, 36240.0530.36
8,2048,543
21, 3527,2307,940
51, 22545, 65272, 68938, 13241, 151
372, 158362, 004243, 946285, 147215, 872
383137
6510.0
103.09,929
3,1789,760
10, 972
13, 07912, 00312, 6546,628
7,704
Novem-ber
2,504
2,8882,359
2, 114, 273184, 05414, 31475, 8105,494
42, 50540.1930.73
8,7216,230
21, 9606,5377,157
45, 79437, 23280, 33143, 75348, 052
244, 857254, 110251, 837253, 418217, 608
7, 812
2, 3858,5949,790
9,2919, 1358, 3365, 3077, 749!
1927
October
2,549
2,8143,166
15, 48827, 623
5,3887,348
33, 532461351110975
i 794181383311326
2, 6642,126
5372, 374, 881
1 171, 074
15, 961i 80, 080
6,46743, 11440.0231.77
8 9, 5468 7, 913
25, 825s 7, 130s 7, 99745, 29245, 09177, 43842, 56326, 329
Novem-ber
3,5153,0353,646
15, 46924, 5565.1246,344
21, 350479364114
1,006809197360289296
2,7612,190
5732, 280, 430
167, 98612, 99075, 2716,719
41, 17639.0428.29
8,0735 6, 884
5 27, 149s 5, 9545 7, 65040, 19537, 34379, 89937, 97727, 965
412430
5811.0
100.014, 3955, 331
12, 93517, 401
45352859
13.099.0
12, 2914,883
12, 66716, 661
PER CENT IN-CREASE (+) ORDECREASE ( )
Nov.,1928,fromOct.,1928
Nov.,1928,fromNov.,1927
-7. 3i -28. 8+10. 8 -4. 8-10.5; -35.3
-0.2-10.2
-21.5-6.4
-21.6-6.3+0.3+1.2
+6.3-27.1+2.8-9.6-9.9
-10.6-18.4+10.5+14.7+ 16.8
34 229.8+3.2
11.1+0.8
-21.3
-25.0-11.9-10.8
29 0-23.9-34.1 19 9
+0.6
-7.3+9.6
+10.2+0.7
-18.2+3.2+2.9+8.6
+8.0-9.5
-19.1+9.8-6.4
+13.9-0.3+0.5
+15.2+71.8
-36.4
-51.2-32.2-41.2
CUMULATIVE TOTALFROM JAN. 1
THROUGH NOV. 30
1937
32, 55329, 086
e 311, 0608285,275
1938
27, 313
28, 197
6 301, 0756 276, 215
j1
25, 830, 3061, 991, 027
128, 777
65, 060
106, 939103, 53197, 695
24,446,1852, 115, 636
146, 598
63, 963
85, 53387, 340
84, 378
487, 452 492, 682478, 000 499, 343
465, 939 504, 530
| - - -
1
100, 035 77, 076
95, 842133, 933
75, 26392, 459;
Perct.in-
crease(+)
or de-crease(-)
cumu-lative1928from1927
-16.1-3.1
-3.2-3.2
"-5:4+6.3
+13.8
-1.7
-20.0-15.6-13.6
+1.1+4.5+8.3
+23.0
-21.5-31.0
5 Revised. s Cumulative through Oct. 31.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
33TREND OF BUSINESS MOVEMENTSContinued
The tumulatives shown are throughNovember, except where otherwisenoted. Earlier data for items shownhere may be found on pages 28 to 137of the August, 1928, "Survey"
LUMBER PEODUCTS-ContinuedPlywood and Veneer Continued
Other plywood:New orders thous. of sq. ft. of surface. _Shipments thous. of sq. ft. of surfaceUnfilled orders, end of
month thous. of sq ft. of surfaceBushel baskets:
Production _ dozens..Shipments dozens..Stocks, end of month. _ _ dozens _
Rotary-cut veneer:Receipts number of carloadsPurchases. number of carloads . _
STONE, CLAY, AND GLASS PRODUCTSClay Products
Face brick, averages per plant:Production _ _ thousandsShipments thousands. _Stocks, end of month thousandsUnfilled orders, end of month.. thousands..
Common brick:Stocks, end of month-
Burned thousandsUnburned thousands
Shipments. .thousands. _Unfilled orders, end of month thousandsPlants closed down numberPrice, red, New York dolls, per thous
Porcelain plumbing fixtures:Net new orders piecesShipments pieces..Unfilled orders, end of month .pieces..Stocks, end of month ..pieces..
Vitreous china plumbing fixtures:New orders pieces. _Shipments pieces..Unfilled orders, end of month pieces..Stocks, end of month pieces
Terra cotta, new orders:Quantity net tons..Value thous. of dolls
Sand-lime brick:Production thousandsShipments by rail... .thousandsShipments by trucks _ thousandsStocks, end of month thousandsUnfilled orders, end of month. .thousands..
Portland CementProduction. thous. of bblsOperation per ct. of capacityShipments.. thous. of bbls..Stocks, end of month. thous. of bblsStocks, clinkers, end of month. .thous. of bbls..Wholesale prices, composite dolls, per bbl._
HighwaysConcrete pavements, new contracts:
Total _ thous. of sq. yds..Road thous. of sq. yds..
Federal-aid highways:Completed
Cost __ thous. of dollsDistance ... ..miles
Under construction, end of month. .miles..Plate Glass
Production, polished thous. of sq. ft..Glass Containers
Actual production:Quantity gross..Relation to capacity per cent
New Orders __ .gross..Shipments gross..Stocks, end of month _ .
A grossUnfilled orders, end of month gross
Illuminating GlasswareProduction:
Total _ number of turnsRatio to capacity per ct. of capacity..New orders per ct. of capacityShipments. _ .per ct. of capacity..Unfilled orders, end
of month number of weeks' supplyStocks, end mo number of weeks' supply..
1928
July
2,9202,5233,918
229, 342294, 662565,911
181249
763815
2,4391,046
408, 563208, 202238, 941299, 457
1113.50
12, 97620, 25381, 69948, 621
185, 043248, 623403, 339460, 360
14, 1911,385
18,0726,055
11, 77212, 59111, 762
17, 44597.0
19, 90122, 58011, 7071.683
13, 1236,984
8,828483
9,497
9,346
2,37477.2
2,0082,3116,2679,166
1,74822.340.226.8
1.64.6
August
4,2392,961
5,131
243, 056262, 810570, 726
259325
890841
2,282989
491, 088206, 938218, 339221, 625
1413.50
12, 96022, 97065, 02947, 690
217, 565267, 870353, 034477, 593
12, 0581,123
21, 6808,284
13, 21514, 44614, 503
18, 73093.1
21,97019, 3749,3571.683
16, 8899,254
12, 145599
9,547
11, 474
2,68680.9
1,9092,6546,2978,467
2,98536.544.542.5
1.84.3
Septem-ber
3,3813,177
5,469
177, 982283, 813409, 110
244199
900850
2,5231,101
498, 691257, 692167, 078213, 274
2112.50
9,93916, 52554, 58350, 593
181, 018215, 544318, 508510, 864
10, 5701,005
17, 2676,767
11, 28115, 30414, 455
17, 85691.7
20, 46016, 7997,5661.650
14, 7529,630
26, 1051,1699,427
10, 248
2,32278.7
2,1222,4336,1738,084
3,19043.044.243.0
1.74.3
October
4,4114,235
5,817
156, 521156, 407420, 671
337255
902819
2,320855
454, 93191, 226
122, 078145, 427
4912.50
22, 66517,01850, 55850, 956
223, 704237, 928304, 284531,882
15, 5971,460
21, 5905,562
15, 80214, 44613, 435
17, 53387.1
19, 836 14, 579
s 5, 9441.650
7,0683,856
13,413598
9,337
10, 505
2,38971.6
2,7212,2616,3028,415
4,19352.053.553.9
1.74.1
Novem-ber
5,7734,147
6,778
114, 18475, 337
464. 733
222190
658840
2,553843
12.00
11,71514, 65738, 26847, 550
221, 848201,675324,457555, 762
9,998949
15, 06877.4
11,95117, 6965,9531.650
8,4305,213
19, 025845
8,692
10, 978
2,14666.8
2,9501,9906,4558,872
4,24554.2151. ll51.9
1.64.2
1927
October
2,7733, 516
3,502
203, 707193, 120397, 505
10179
809724
2,679801
561, 367169, 238214, 169182, 462
7111.75
14, 06519, 58229, 45529, 044
227, 896245, 725307, 240500, 868
11, 9071,049
18, 9285,134
13, 62314, 42315,318
17, 17487.4
18, 10513, 1415,9601.683
9,8005,527
29, 2061,1519,466
8, 703
1,96966.3
2,3142,0545,8788,681
3,81450.644.045.2
1.43.8
Novem-ber
2,2453,424
2,765
244, 345195, 228446, 622
10296
723622
2,777783
538, 69891, 424
187, 448211, 961
7011.75
14, 93916, 25128, 14329, 998
167, 993180, 498294, 735527, 920
11, 1341,008
18, 0866,558
11,83313, 46814, 845
14, 44975.9
11,61916, 0226,3741.683
7,9845,102
29, 7121,1048,879
8,573
2,04568.5
2,5741,9286,0499,043
3,45447.840.240.7
1.34. li
PER CENT IN-CREASE (+) ORDECREASE ( )
Nov.,1928,fromOct.,1928
+31.9-2.1
+16.527.0
-51.8+10.5-34.1-25.5
-27.1+2.6
+10.0-1.4
-4.0-48.3-13.9-24.3-6.7-0.8
-15.2+6.6+4.5
-35.9-35.0
-14.1-11.1-39.8+21.4+0.2
0.0
+19.3+35.2
+41.8+41.3-6.9
+4.5
-10.2-6.7+8.4
-12.0+2.4+5.4
+1.2+4.2-4^5-3.7-5.9+2.4
Nov.,1928,fromNov.,1927
+157. 1+21.1
+145. 1-53.3
61.4+4.1
+117. 6+97.9
-9.0+35.0-8.1+7.7
+2.1-21.6-9.8
+36.0+58.5+32.1+11.7+10,1+5.3
-10.2-5.9
+4.3+2.0+2.9
+10.4-6.6-2.0
+5.6+2.2
-36.0-23.5-2.1
+28.1
+4.9-2.5
+14.6+3.2+6.7-1.9
+22.9+13.4+27.1+27.5+23.1+2.4
CUMULATIVE TOTALFROM JAN. 1
THROUGH NOV. 30
1927
32,39531,737
2, 588, 7852, 491, 495
1,0801,075
8,3037,591
e 1, 855, 513
2,461,7012, 744, 170
137, 23713, 643
6 170, 6316 63, 467
6110,234
159, 909
164, 722
119,22669, 225
171, 4637,527
107, 401
103, 944
23, 092
24, 59423, 771
32, 563
1928
37.38933; 610
2, 090, 4112, 121, 360
2,0132, 296
8,0238,269
Per ct.in-
crease
or de-crease
cumu-lative1928from1927
+15.4+5.9
-19.3-14.9
+86.4+113.6
-3.4+8.9
j |6 1, 914, 267
._
2, 850, 9912, 848, 658
139, 30213, 189
6 170, 7716 57; 325
6116,537
163, 637168, 071
139, 96388, 366
151, 9696,552
98, 387
113,046
26, 47726, 71626,138
35, 095
+3. 2
+15.8+3.8
+1.5-3.3
+0.1-9.7+5.7
+2.3+2.0
+17.4+27. 7
-11.4-13.0-8.4
+8.8
+14. 7+8. 6
+10. 0
+7. 8.
3vised. 6 Cumulative through Oct. 31.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
34
TREND OF BUSINESS MOVEMENTSContinued
The cumulatives shown are throughNovember, except where otherwisenoted. Earlier data for items shownhere may be found on pages 28 to 137of the August, 1928, "Survey"
CHEMICALS AND OILS
ChemicalsSulphuric acid:
Exports thous. of IbsPrice, wholesale dolls, per 100 Ibs..
Nitrate of soda:Imports long tons..Production in Chile. metric tons _
Potash salts:Imports (commercial). __ long tons. _Production in France(K20 content) metric tons..Sales in Germany
(K2O content) metric tonsSuperphosphate (acid phosphate) :
Production .short tons__Stocks, end of month short tons..Shipments _ short tons..
Fertilizer:Exports long tons..Consumption, Southern States .short tons..
Dyes and dysetuffs, exports:Vegetable - thous. of IbsCoal tar thous. of lbs._
ArsenicCrude:
Production _ _ _ . short tons..Stocks, end of month short tons..
Refined:Production .short tons..Stocks, end of month short tons..
Price index numbers:Crude drugs rel. to Aug., 1914..Essential oils rel. to Aug., 1914..Drugs and
Pharmaceuticals rel. to Aug., 1914..Chemicals rel. to 1923-14..Oils and fats rel. to 1913-14..
Wood Chemicals
Acetate of lime:Production-
United States .thous. of IbsCanada thous. of Ibs
Shipments-United States thous. of IbsCanada thous of. Ibs
Stocks, end of month-United States thous. of lbs_.Canada . thous. of Ibs
Exports thous. of IbsPrice, wholesale dolls, per cwt__
Methanol, crude:Production
United States.. gallons _Canada gallons..
Stocks at crude plants, end of month-United States gallons..Canada .gallons..
Stocks at refineries and in transit-United States gallons..Canada gallons..
Exports . gallonsWood at chemical plants:
Consumption United States _ cordsCanada cords..
Stocks, end of month-United States cords..Canada cords..
Daily capacityTotal cords..Shutdown.. cords..
Methanol, refined:Production
United States gallons..Canada gallons..
Stocks, end of month-United States gallons..Canada gallons..
Shipments-United States . gallonsCanada gallons .
Price, wholesale, N. Y dolls, per gal._Ethyl Alcohol
Production . . .thous. of galsWithdrawn for denaturization__thous. of gals _Warehouse stocks, end of month. thous. of gals..
1938 1927
July
774.78
28, 150284, 300
38, 46130, 260
102, 608293, 250
1, 258, 33964, 40198, 80319, 251
2548,340
1,3852,105
7281,568
197162
168113123
9,340443
13, 302882
11,4112,3331,7923.50
518, 22014, 885
285, 13938, 486
277, 07766, 51854, 535
53, 2471,938
502, 57673, 6993,250
807
541, 11310, 800
444,49639, 210
667, 54912, 672
.47
16, 61814, 927
7, 351
August
291.78
75, 318275, 00057, 32734, 300
108, 696294, 381
1, 414, 61582, 876
103, 57562, 903
2371,335
2,0862,999
8031,618
193161164113121
9,150None.12, 5042,0988,054
1401.1413.88
501, 893None.
214, 28737, 933
160, 15664, 81714, 000
51, 095None.
504, Oil73, 7003,2621,053
436, 81114, 700
395, 73026, 715
497, 97122. 076
' .48
18, 76416, 1289,263
Septem-ber
582.78
36, 644259, 40043, 313
140, 818276, 811
51, 424, 169154, 44399, 149
138, 470
1571,330
1,0792,978
7991,971
192159164113121
8, 235446
12, 920348
3,326183449
4.00
442, 75018, 816
196, 66513, 665
164, 97267, 31432. 540
45, 3342,160
508, 82173, 759
3, 2651,113
355, 35338, 600
300, 47833, 101
415, 34025, 396
.48
18, 61315, 26911,295
October
442.78
48, 385282, 300
28, 242
76, 507350, 958
1, 576, 12191, 16586, 289
151, 128231
5,194
1,2383,024
8352,344
Novem- iber
633.78,
45, 575285, 900j24, 639
82, 463
""I
94, 085!84, 947
4002,436
113124
9,957999
9,782990
3,12134936
4.00
591, 36945, 768
291, 67234, 399
161, 72357, 81420, 408
60, 0225,366
546, 85673, 1193,266
698
487, 38456, 700
325, 91423, 339
493, 71248, 330
.51
20, 68520, 7189,907
113124
11, 6991,242
12, 5371,1232,302
28320
4.50
696, 01353, 146
265, 10219, 682
167, 01253, 42634, 583
68, 5736,248
531, 27872, 7603, 265
400
536, 78239, 500
422, 64021, 750
494, 04742, 989
October
474.75
55, 154189, 20027, 884
33, 00063, 730
5 391, 37651, 582, 5595 110, 290
96, 672127, 422
3591,838
1,0041,260
9372,321
207123
160112134
13, 8481,091
17, 1411,462
16, 1851,283
9153.50
692, 29948, 179
369, 96539, 414
1, 181, 22527, 99557, 983
73, 1595,121
599, 31474, 9423,339
145
688, 4356,700
396, 13726,443
698,47638, 569
.53
16,58417, 7597, 931
Novem-ber
417.76
67, 091210, 00017, 03930, 20468, 363
342, 4001, 806, 877
75, 26095, 60587, 965
3771,920
1,2691,326
8222,255
206126169112133
13, 4681,106
13, 575808
16, 0571,560
6763.50
690, 62547, 705
359, 58433, 414
1, 407, 74531, 98748, 624
70, 7755,937
593, 08971, 6953,323
145
529, 55238, 600
452, 24632, 584
626, 64328, 629
.48
18,05117,' 3298,211
PER CENT IN-CREASE (+) ORDECREASE ( )
Nov.,1928,fromOct.,1928
+43.20.0
-5.8+1.3
-12.8
7 R-T-7. 8
Nov.,1928,fromNov.,
1927
+51.8+2.6
-32.1+36.1+44.6
+20.6
+9.0 -1.6-43. 8 -3. 4+73. 2 +6. 1-53. li +26. 9
CUMULATIVE TOTALFROM JAN. 1
THROUGH NOV. 30 ,
1927
6,971-
669, 4791, 377, 493
252, 770
1, 139, 0366 2, 582, 2446 1, 447, 3851, 192, 8574, 423, 014
3,34924, 541
; 6 11, 535
1 6 8, 711
0.00.0
+17.5+24.3+28.2
1 +13.4i
-26.2-19.9-44.4+12.5
+17.7+16.1-9.1
-42.8+3.37.6
+69.5
+14.2+16.4
-2.8-0.5
0.0-42.7
+10.1-30.3+29.7-6.8
^ +0.1| -11.1
i
+0.9-6.8
-13.1+12.3-7.6
+39. 0-85.7-81.9-70.4+28. 6
+0.8+11.4
-26.3-4i.:-88.1+67.0-28.9
-3.1+5.2
-10.4+1.5-1.7
+175.9
+1.4+2.3-6.5
-33.8-21.2+50. 2
1 143, 841j 8, 515143, 862| 7, 504
10, 056
i 7,317,149365, 343
269, 691
792, 80443, 386
i
1928
6,679
947, 5182, 869, 900
335, 291
1, 314, 0706 3, 220, 183
6 1, 729, 2201, 144, 2925, 467, 970
3,01230, 345
6 13, 648
6 7, 442
Per ct.in-
crease(+)
or de-crease(-)
cumu-lative
1928from1927
-4.2
+41.5+108. 3
+32.6
+15.4+24.7
+19.5-4.1
+23.6-10.1+23.7
+18.3
-14.6
j l1
1
117, 6628,850
131,41410, 474
11, 149
6, 587, 595264, 899
498, 345
663, 75944, 695
1 4,943,185' 5,315,111
259, 138: 374, 850
5, 217, 687 5, 429, 124276, 366 282, 575
6136,077 6145,8636 125, 998 6 131^ 025
-18.2+3.9-8.7
+39.6
+10.9
-10.0-0.1
i
+84.8
-16.3+3.0
i
+7.5+44.7
+4.1+2.2
+7.2+4.0
5 Revised. 3
Cumulative through Oct. 31.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
35
TREND OF BUSINESS MOVEMENTSContinued
The cumulatives shown are throughNovember, except where otherwisenoted. Earlier data for items shownhere may be found on pages 28 to 137of the August, 1928, "Survey"
CHEMICALS AND OILS ContinuedExplosives
(Black powder, permissible, and other highexplosives)
Production thous. of lbs_.Shipments thous. of IbsNew orders thous. oflbs. _Stocks, end of month thous. of lbs_.
Naval StoresTurpentine (gum):
Net receipts, southern ports barrels,.Stocks at port, end of month barrels. _Price, southern, New York.. dolls, per gal_.
Rosin (gum):Net receipts, southern ports barrels. _Stocks at 3 ports, end of month barrels. _Price, B, New York dolls, per bbl_.
Rosin (wood):Production barrels..Stocks, end of month. _ barrels. _
Turpentine (wood) :Production barrelsStocks, end of month.. barrels. .
Pine oil:Production gallons..Stocks, end of month gallons..
RoofingRoofing, felt:
Production, dry felt tons..Stocks, end of month, dry felt tons..
Prepared roofing:Shipments. thous. of roof squares..
Fats and OilsTotal vegetable oils and copra:
Exports thous. oflbs..Imports thous. of Ibs
Copra imports . ..short tons _Copra or coconut oil:
Imports thous. oflbsConsumption in
oleomargarine thous. of IbsOleomargarine:
Production thous. of IbsConsumption thous. of Ibs
Animal glues:Shipments thous. of Ibs. _
CottonseedCottonseed:
Receipts at mills . short tonsConsumption (crush).. short tons..Stocks atjmills, end of month short tons..
Cottonseed oil, crude:Production thous. of IbsStocks, end of month thous. oflbs _
Cottonseed oil, refined:Production thous of IbsStocks, end of month . thous. of IbsPrice, yellow, prime, N. Y__.dolls. per l b__Consumption in oleomarg thous. of lbs__
Cottonseed cake and meal:Production short tons..Stocks, end of month short tonsExports short tons
FlaxseedProduction, crop estimate., thous. of bushsImports thous. of bushsLinseed oil:
Shipments from Minneapolis.thous. of lbs_.Price, New York dolls, perlb..
Linseed cake and meal:Shipments from Minneapolis. thous. of lbs__Exports thous. of Ibs
FOODSTUFFSWheat
Production, crop estimate:Winter wheat _ ..thous. of bushs..Spring wheat thous. of bushsTotal, wheat thous. of bushs
Visible supply, end of month:United States thous. of bushsCanada ..thous. of bushs..
|1938
July
30, 08429, 56127,99317, 158
46, 63769, 245
.55148, 250178, 225
9.7137,016
112, 7036,3047,786
238, 767824, 671
25, 8102,7982,398
1,14553, 37924, 407
19, 62910, 64221, 44420, 4906,621
23, 92332, 33621, 78111,28519, 45726, 404
335, 406.101
1,86713, 76932, 601
71
August
35, 09223, 03932, 26818, 554
42, 72473, 304
.52145, 357227, 517
9.5937, 623
114, 0