AUGUST 1950
U. S. DEPARTMENT OF COMMERCE
BUREAU OF FOREIGN AND DOMESTIC COMMERCE
OFFICE OF BUSINESS ECONOMICS
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SURVEY OF CURRENT BUSINESS
No. 8
AUGUST 1950
tentsTHE BUSINESS SITUATION
PAGE
1
National Income and Product in the Second Quarterof 1950 6
* * *
SPECIAL ARTICLEState Income Payments in 1949 11
* * *
MONTHLY BUSINESS STATISTICS . . . . S-l to S-40New or Revised Statistical Series 24Statistical Index Inside Back Cover
Published by the U. S. Department of Commerce, C H A R L E S SAWYER,Secretary. Office of Business Economics, M. JOSEPH ME EH AN,Director. Subscription price, including weekly statistical supplement, $3 ayear; Foreign $4. Single copy, 25 cents. Send remittances to any Depart-ment of Commerce Field Office or to the Superintendent of Documents,United States Government Printing Office, Washington 25, D. C. Specialsubscription arrangements, including changes of address, should be madedirectly with the Superintendent of Documents. Make checks payable toTreasurer of the United States.
Contents are not copyrighted and may be freely reprinted.
DEPARTMENT OF COMMERCEFIELD SERVICE
Albuquerque, N. M ex.203 W. Gold Are.
Atlanta 3, Ga.50 Whitehall St. SV.
Baltimore 2, Md.103 S. Gay St.
Boston 9, Mass.2 India St.
Buffalo 3, N. Y.117 Ellicott St.
Butte, Mont.14 W. Granite St*
Charleston 3, S. C.18 Broad St.
Cheyenne, Wyo.206 Federal Office Bldf;
Chicago 4, 111.332 S. Michigan Ar.
Cincinnati 2, Ohio105 W. Fourth St.
Clereland 14, Ohio925 Euclid Are.
Dallaa 2, Tex.1114 Commerce St.
Denver 2, Colo.828 Seventeenth St.
Detroit 26, Mich.230 W. Fort St.
El Paso 7, Tex.206 U. S. Court House
Hartford 1, Conn.135 High St . FAR WESr^"^^44T
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1 50
1 40
1 30
' 1 20
1 10
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90
80
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60
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U. 5. DEPARTMENT OF COMMERCE, OFFICE OF BUSINESS ECONOMICS 50-241
State income changes from 1940 to 1949 were strikinglysimilar to the pattern of regional changes. Of the 28States in the 4 Southern and Western regions, all but Mon-tana in the Northwest scored percentage increases in totalincome payments from 1940 to 1949 exceeding the nationalaverage. Similarly, in all New England and Middle EasternStates the income rise was of less-than-average proportions(though by only a small margin in Maryland and WestVirginia). And most Central States experienced 1940-49income gains (ranging from 177 percent in Wisconsin to 146percent in Illinois) roughly similar to the Nation-wide riseof 160 percent.
Regional Incomes in the Postwar PeriodGeographic income changes in the postwar period assume
added interest when viewed against the summary backgroundof the pronounced shifts which have occurred since 1929 and1940. This is true even though the postwar changes cannotqualify as measures of trend and have limited significance inthat connection. The income data over the short periodfrom 1946 to 1949 are too affected by random, temporaryinfluences to furnish much of a gauge as to the long-runtrends of State and regional income payments.
Data for the comparative analysis of State income pay-ments in 1946 and 1949 are given in table 3. Examinationof these data discloses rather distinct regional patterns,particularly when attention is focused on the major com-ponents of total income. In general, as outlined below, itwould appear that the below-average rise of income pay-ments in the Far West was the major divergence of regionalpostwar income movements from long-run trends.
New EnglandIn all three major income aggregatestotal income pay-
ments, nonagricultural income, and private nonagriculturalincomeevery New England State experienced a below-average rate of increase over the postwar period from 1946to 1949. Chiefly responsible was the region's relative lag inmanufacturing. It characterized all six States during theboom years 1947 and 1948 but was particularly pronouncedin 1949.
Factory payrolls were reduced 8 percent last year in Massa-chusetts, as compared with 6 percent on a national basis.The 10-14 percent reductions in factory payrolls sustainedby the other New England States were the largest in thecountry except for Mississippi's decline of 12 percent.
In only 5 of 20 principal types of manufactures did NewEngland better the national record from 1948 to 1949 (asmeasured by comparative percentage changes in factory pay-rolls). Payrolls in the area's largest industry, textiles,dropped 17 percent last year. This industry contributed 19percent of all factory payrolls in the area in 1948, with thepercentage running as high as 30 in New Hampshire and 44in Rhode Island. In Connecticut, which places the leastdependence of any New England State on textiles, payrollsin the 4 industry groups manufacturing machinery and metalproductsconstituting half the totalfell by percentagesranging from 11 to 19.
Since the summer of 1949 the manufacturing situation inNew England has improved appreciably. In June of thecurrent year total factory employment in the region, thoughstill 10 percent below the fall 1948 peak, was up 5 percentover June 1949. This increase was about the same as thatfor the Nation.
Middle EastOver the course of the 1946-49 period, total income pay-
ments in the Middle Eastern region rose 14 percent, as com-pared with the Nation-wide advance of 16 percent. Theregion's increases in nonagricultural income and privatenonagricultural income also were somewhat below average.The Middle East's performance in the postwar period, there-fore, was in general conformity with the longer run tendencyfor the area not to share proportionately in Nation-wideincome growth.
Numerous factors underlay the postwar over-all record ofthis large and heterogeneous area. The most importantwould appear to be its comparatively small expansion inmanufactures. This, however, was confined to New York,New Jersey, and Maryland.
Warranting special note is the fact that in Delaware, theDigitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
August 1050 SURVEY OF CURRENT BUSINESS 17District of Columbia, and West Virginia income experiencein 1947 and 1948 differed markedly from that in 1949.
1. Delaware's 20-percent income rise in the earlier postwarperiod closely paralleled that for the Nation. In 1949,however, income payments in the State moved up 5 percent,in contrast to the small decline nationally. This differentialmovement stemmed largely from a 10-percent rise in Dela-ware of payrolls in the chemicals industry, which makes uphalf of the State's manufacturing total.
2. From 1946 to 1948 income payments in the District ofColumbia went up by 8 percentthe smallest increase in thecountry. Government payrolls, which account directly fortwo-fifths of the District's total income, were stable over thisperiod. In 1949 government payrolls in the District ad-vanced 7 percent, and total income 5 percent.
3. In West Virginia, income payments increased 31 per-cent from 1946 to 1948 but declined 8 percent in 1949. Theselarger-than-average movements stemmed mainly from fluc-tuations of payrolls in the State's important coal-miningindustry.Table 4.Differentials and Relative Changes in Per Capita Income
Payments, by States and Regions, Selected Years, 1929-49 1
Table 5.Major Sources of Income Payments in Each State andRegion: Selected Components as a Percent of Total Income, 1949
State and region
Co n t i n e n t a lUnited States__
New EnglandConnecticutMaineMassachusetts - _New Hampshire-Rhode IslandVermont
Middle East ...DelawareDistrict of Co-
lumbiaMarylandNew JerseyNew YorkPennsylvaniaWest Virginia
SoutheastAlabamaArkansasFloridaGeorgiaKentucky-LouisianaMississippiNorth Carolina-South Carolina _ _TennesseeVirginia. _ .
SouthwestArizona _ _New MexicoOklahomaTexas
CentralIllinois _ _IndianaIowaMichiganMinnesotaMissouri. - __OhioWisconsin--
North west__ __ __ColoradoIdahoKansasMontana..NebraskaNorth Dakota. _.South Dakota.. _UtahWvoming _ __
Far WestCaliforniaNevadaOregon _.Washington
Percent of national per capita income
1929
100
123135S3
13296
12588
136135175103139165113685145457148556140453751626884566768
1061378680
no8390
11093799176788982576179
10112713912094
105
1940
10012614487
13498
12590
13115419012314015010969564744825554623555505577
6981626272
105126
9484
1138988
1129079907673
10075656683
103
130140143100109
1944
10011213290
11290
11482
117121
111116124132104696661558766607149615870838285697884
10511610188
1158488
1119794888897
1049693909192
132135123118131
1945
10011012587
11292
10885
118117
11511212213510474
686259896865705064597382
8089717283
10511910290
1078991
10910096989393
1079694979199
125127131117118
1946
10010812186
11192
10686
118120
128109119134105736759609066646549666168797887707080
1051219699
1059394
1079995989889
11196939988
105130136143117109
1947
10010612385
10689
10684
11611812510811813010477
6761588567646752665967798387737486
1051189889
1109391
10810010311010198
12295
12310291
111
127133140117108
1948
10010512184
10690
10383
116117
124107115130105786760628166666954646165788085727582
1091241001091089797
1111011021059392
12210611011588
108
120126115113104
1949
10010512082
10790
10581
118126137105116132106756658588366657548645966788888788091
1061229797
1089297
10810096
1049291
10597908891
111
121125130109110
Percent change
1940to
1949
+131+92+92
+118+85
+112+95
+107+108+89+67+97+92
+103+126+151+174+186+208+134+176+181+180+212+170+173+176+133+192+149+ 192+199+192+134+123+138+166+122+ 141+155+123+158+181+ 168+178+187+143+199+224+210+154+150+116+107+111+152+134
1946to
1949
+10+6+8+4+5+7+9+3+9
+16+17+6+7+8
+11+13+9+8+7+2
+10+12+27+8+7+7+6+8
+23+10+21+25+24
+11+11+11+7
+13+8
+13+11+10+10+17+3
+13+3
+11+6-2
+14+17
+3+1
0+2
+11
1948to
1949
-4
-4-5-6-3-5
2-7
-3+4
+6-6-3
2-3-8-4-7
-102
-5+4
-16-4-7-4-5
+5+4+3+6-6-6
-14-3-8-4-6 5
-10-55-5
-18-1221-26
-4-4+9+2
State and region
Continental United States__New England-. _
ConnecticutMaineMassachusetts . _New HampshireRhode Island.Vermont _
Middle EastDelaware __ _District of ColumbiaMarylandNew Jersey. __ .New YorkPennsylvaniaWest Virginia
SoutheastAlabama. _ _ArkansasFlorida -GeorgiaKentuckyLouisiana.. ._ ...MississippiNorth CarolinaSouth Carolina . ...TennesseeVirginia
Southwest.-ArizonaNew Mexico.. _ ... _OklahomaTexas
Central ._IllinoisIndianaIowa .MichiganMinnesota ._MissouriOhio. .Wisconsin.. ._ . _
Northwest. ....Colorado _Idaho _ .. .. _Kansas -MontanaNebraskaNorth DakotaSouth Dakota.. . .UtahWyoming. _ . . _ _ _ _ _ _
Far West ...CaliforniaNevada. ._ __ _ _ _ _OregonWashington - _ _ .
Agricul-tural
income !
8.02.42.38.41.23.9
10.42.05.0
3.62.11.42.54.6
13.512.625.510.011.615.610.024.416.413.411.89.1
17.518.816. 516.117.88.45.79.3
26.94.3
16.411.44.4
11.622.115.027.419.622.426. 334.533.310.620.07.16.7
10.69.37.3
Govern-ment
incomepayments 1
15.615.811.917. 117.015.818.315.614.910.445.218.313. 413.813.213.619.619.518.319.418.717.521.221.816.719.618.324.4
16.719.721.519.915.312.912.312.314.512.714.714.012.812.016.619.314.415.515. 514.517.316.820.716.318.418.415. 315.220. 7
Manufac-turing
payrolls
22.1
29.633.826.22S.229.932.621.824.531.53.2
20.832.922.029.119.516.920.09.97.2
18.914.013.310.524.927.320.116.69.55.23.88.2
10.628.426.632.713. 339.315.519.132.528.58.59.59.0
11.57.08.22.24,39.95.5
15.214.43.5
20.117.0
Trade andservice
income l
26.725.423. 324. 526. 924.923.925.528.620.128.827.325. 032.225.221.625.624.625.132.427.624.525.224.722.722.626.024.3
25.025.023.924.325.225.226.824.023.222.926.028.424.724.325.026.922.623.724. 926.225.625.325.222.829.830.530.828.327.2
All otherincome
27,626.828. 723. 820. 725 f
r i\ 549r $ 070
m
677r 390
30141010(i98
T 507
T 45
709
114981580879576184
6744
172T 3Q1
r K 47Q1,060T 298
99r 10Qr 190
1 OQ
781,183
574221
r 1'^fi
245
200r 496i fi^4871455845
182
18983
357oqc
141.0
'141.2
' 9, 3382,474
r 6, 864
r 1, 462
r 1, 198
'7061,803
r 4, 757
* 442'347
146r 5, 915
r 43, 258
r 14, 302
'941r 2 154' 3, 947r 9 42-41,794
r 4 781
r 5 915
r 1 1 59fir (} 1%
18
693r 411
303r 4)9
1131 007
r 593
r 45
721
118r 1 003
r 596T 900
59618r*6744
174r 352
r 5 4001, 065
f 223103
r 120r 19J
761,172
573218
132
241
391201
r 496
r 1 d.7165
1466145
176
190
222
141. 6
' 143. 1
r 9, 333
r 2, 474
^ 6, 859r 1,428
r 1,203
7-715> 1,812f 4, 792
454353150
5, 900r 43, 608
r 14, 638
r 939r 2 2 )2' 3, 890r 9 465
r 1, 803
f 4 7925, 869
r 11 837T ^ 450
r 19
r 724
43r 303r 433
116r 1 025
530
46
' 741
119r } 021
606r 1 041
7311866748
r 17f)361
r 5 3g7
1,09027108127193146
r 76
' 1. 163573213
129
238r "399
202r 497
1 4Q164
1486146
r 177
194
91 ft
' 144. 5r 147. 1
p 9, 396f 2 495p 6, 901P i 404p 1 199
P732P 1,825P 4 829
P 5 832
P 43 920p 14 771
p 937p 2 283p 3, 972p 9 517P 1 807p 4 781p 5 852
p I9 039p 6 585
P 19
P 751
P 300P 443
P i 039
p764
p 1 032p fj22
p 1 073
P 179p 363
p 1, 132
p75p 1, 172
p 499
p 480
p 182
p 197
P 342
p 147. 0
P 148. 5r Revised. 3
Preliminary.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-12 SURVEY OF CURRENT BUSINESS August 1950
Unless otherwise stated, statistics through1948 and descriptive notes are shown in the1949 Statistical Supplement to the Survey
1949
June July August Septem-ber OctoberNovem-
berDecem-
ber
1950
January Febru-ary March April May June
EMPLOYMENT AND POPULATIONContinuedEMPLOYMENT Continued
Miscellaneous employment data:Federal and State highways, total number..
Construction (Federal and State) doMaintenance (State) __ _ do
Federal civilian employees:United States ^ thousands -
District of Columbia doRailway employees (class I steam railways) :
Total thousands--Indexes:
Unadjusted .. - 1935-39=100.-Adjusted. _ _ --do
PAYROLLSManufacturing production-worker payroll index,
unadjusted (U. S. Dept. of Labor) f 1939=100LABOR CONDITIONS
Average weekly hours per worker (U. S. Dept. ofLabor) :f
All manufacturing industries hours. _Durable-goods industries do
Ordnance and accessories _-doLumber and |wood products (except furni-
ture) _ - hours..Sawmills and planing mills.. -do
Furniture and fixtures doStone, clay, and glass products __do
Glass and glass products doPrimary metal industries __do
Blast furnaces, steel works, and rolling millshours- .
Primary smelting and refining of nonferrousmetals _ _ _ . _ - hours-.
Fabricated metal prod, (except ordnance, ma-chinery, transportation equipment). .hours.
Heating' apparatus (except electrical) andplumbers' supplies hours
Machinery (except electrical) doElectrical machinery doTransportation equipment - d o
Automobiles. doAircraft and parts doShip and boat building and repairs- -.doRailroad equipment do
Instruments and related products .do _Miscellaneous rufg. industries do
Nondurable-goods industries doFood and kindred products. _ do
Meat products _ . . doDairy products doCanning and preserving _ doBakery products doBeverages . . _. _ do
Tobacco manufactures doTextile-mill products do
Broad-woven fabric mills doKnitting mills _ ... do
Apparel and other finished textile productshours..
Men's and boys' suits and coats .doMen's and boys' furnishings and work
clothing hoursWomen 's outerwear do
Paper and allied products doPulp, paper, and paperboard mills do
Printing, publishing, and allied industrieshours. .
Newspapers doCommercial printing do
Chemicals and allied products doIndustrial organic chemicals do .Drugs and medicines. _ ... do_ -Paints, pigments, and fillers do
Products of petroleum and coal doPetroleum refining do
Rubber products doTires and inner tubes do
Leather and leather products doFootwear (except rubber) do
Nonmanufacturing industries:Mining:
Metal doAnthracite - doBituminous coal _ .-doCrude-petroleum and natural-gas production:
Petroleum and natural- gas productionhours. -
Nonmetallic mining and quarrying doContract construction do_-
Nonbuilding construction doBuilding construction do
295, 071124, 025120, 469
1,929217
1,261120.6119.0
315.7
38.839.239.740.740.739.039.438.937.637.740.539.237.339.239.039.539.440.538.439.039.239.438.541.640.445.838.342.242.138.036.335.736.2
35.433.335.834.640. 741.138.73?. 440.040.839.240.241.240.239.938.236.636.536.0
40.623.430.7
39.743.838.541.937.1
314,414137, 965124, 931
1,923217
1,238118.4116.0
312.8
38.838.840.339.439.338.638.737.936.936.439.139.337.739.038.739.940.339.938.437.739.039.038.742.241.845.739.742.2.130. 636.336.3
35.433.430.133.941.141.838.637.139.840.639.340.040.940.740.438.436.637.036.8
39.435.025.1
40.343.438.642.237.1
327, 536146, 144128, 631
1,915214
1,231
117.8115.4
323.0
39.139.339.740.740.840.539.639.037.637.639.439.639.539.139.139.739.840.237.338.439.038.938.941.741. C45.040.841.541.438.737.637.637.0
35.733.536.434.241.842.638.536.839.640.539.240.041.140.339.838.336.037.236.7
39.523.426.1
40.144.338.742.437.2
323 842143,' 585125, 032
1,886213
1,196114.2111.5
335.1
39.039.640.3
40.740.641.039.638.237.637.139.640.2
40.339.340.040.140.440.637.738.139.540.2
39.641.841.644.440.142.140.738.938.638. 537.8
30.835.436.935.842.643.039.137.539.941.439.840.441.541.140.540.339.130. 836.0
39.631.827.0
40.443.237.740.936.5
310, 606137, 971122, 022
1,846211
1,116106.9103.4
320.9
39.739.940.3
41.741.641.740.439.537.534.040.740.141.439.240.439.139.040.530.438.539.840.739.641.741.144.240.041.640.538.239.439.638.9
36.534.337.534.243.143.738.637.539.541.739.940.641.441.040.339.437.336.535.1
40.139.231.9
41.244.238.341.836.9
278, 309107, 399120, 798
1,835211
1,141
109.2108.2
313.9
39.139.040.2
41.041.041.240.039.236.434.439.439.240.038.540/037.336.241.534.838.340.040.939.341.642.943.937.141.440.138.039.539.838.4
35.732.930.833.643.043.638.637.239.341.540.040.741.040.040.038.430.935.133.3
35.735.734.1
40.042.737.139.936.1
Revised. v Preliminary. J Data include all of Fairfax County, Virginia, and Montgomery and Prince Get2 Data for the United States include 145,100 decennial census temporary employees for March, 130,900 for Apr;
available for the District of Columbia.
240, 05972, 406
117, 5961,8291213
1,183112.7114.5
329.3
39.840.140.741.340.842.240.339.739.4
39.340.540.540.539.740.638.938.241.238.438.740.040.939.541.443.444.136.041.339.738.039.840.337.0
35.934.736.834.542.943.039.338.140.341.040.240.641.039.939.739.237.337.136.2
41.622.025.4
40.042.436.438.335.8
)rges Coun1, 48,500 foi
220, 00054, 603
115, 1541,8011213
1,180
112.8117.3
329.2
39.740.040.2
39.238.341.139.839.739.539.3
41.3
40.339.739.840.540.540.940.737.838.039.740.239.441.442.944.538.241.139.738.039.440.030.8
36.035.436.235.042.243.038.530.540.041.340.340.641.040.740.739.438.437.737.4
42.023.924.5
41.841.435.237.434.8
ties, Mary* May, and
213, 82148, 854
114, 714
1,8011213
1,154110.3113.0
330.0
39.740.140.4
39.839.441.740.040.039.639.340.4
40.339.740.340.439.739.640.737.539.439.940.239.340.740.443. 837.741.040.030. 239.040.137.2
36.737.036.435.942.543.438.230.339.341.140.040.741.439.839.639.238.338.137.8
41.920 0
'25.4
40.041.434.337.833.7
land.12,500 for
228, 93263, 347
114, 8912 1. 94012214
1,177
112. 5115. 3
' 333. 5
39.740.240.6
MO. 45-40.1Ml. 7MO. 1MO. 1
38.9r37.5
40.740.3
MO.O40.0
' 40. 540.240.440. 538.230.240.040.2
39 240.7
r 40. 343. 7
' 30. 8Ml. 5MO. 1* 30. 7
39.239 837.0
'36.4'37.5
30. 235.442.043.4
38.0'36. 8
39.041.140.040.941.739.739.639. 337.4
'37.937.4
Ml. 141.5
39.2
r 39. 8Ml. 6'35. 1'38.7'34.5
June; the i
' 250, 272r 82, 302116, 980
2 1, 93912214
1,221
' 110.7'118.6
' 337. 2
39.7MO. 7
40.6
40.740.441.3
MO. 4MO. 2
40.4
39.9
40.8
MO. 7
r 39. 941.0
MO. 7Ml. 3M2.2
40.237.639.239.940.238.540.439.844.030.341.140.735. 537.8
' 38 4'35.0
35.2'35.2
35.434.542.343.2
38.637.139.441.240.140.841.840.840.540.039.0
' 35. 934.8
41.529.036.0
M2.4' 43. 5
36.540.8
'35.6
lumber of
275, 779102, 310121, 802
2 1, 8511 2 213
P 1, 164
Pil l . 2pil l . 7
349.0
MO.OMO. 9MO. 7
'40.840.0
Ml. 2MO. 8
40.440.5
39.7
40.8
40.7
40.2Ml. 3MO. 9Ml. 1
41.540.838.039.7
' 40. 3MO. 4
38.9Ml !)
40.744.337.341.041.2
' 30 037.938. 535.0
' 35. 730.4
35. 934. 542.343.2
' 38. 737. 339.841.240.540.849 2
MO.O39.9
Ml.l41.1
' 35. 534.3
41.234.534.9
41.244.137.540.030.8
such empk
2 1, 820i 2214
P 1,271
P 121.5P 119.8
T> 40. 5Ml. 4P40. 5
P41.4P 41. 3
Ml. 2
Ml. 4
Ml. 8MO. 4P42. 5
P 40. 5P40. 2
P 39. 4Ml. 9
p 38. 0P38. 0
p35. 8
P43. 0
P38. 6
Ml. 5
Ml. 2
P37.6
>yees is notTotal includes State engineering, supervisory, and administrative employees not shown separately.tRevised series. See note marked "f" on P- S-ll.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
August 1950 SUEVEY OF CTJKRENT BUSINESS S-13
Unless otherwise stated, statistics through1948 and descriptive notes are shown in the1949 Statistical Supplement to the Survey
1949
June July August Septem-ber OctoberNovem-
berDecem-
ber
1950
January Febru-ary March April May June
EMPLOYMENT AND POPULATIONContinuedLABOR CONDITIONS Continued
Average weekly hours per worker, etc. f ContinuedNonmanufacturing industries Continued
Transportation and public utilities:Local railways and bus lines hoursTelephone . _ _ _ _ _ d oTelegraph doGas and electric utilities do
Trade:Wholesale trade doRetail trade:
General-merchandise stores doFood and liquor . . do ___Automotive and accessories dealers._.do
Service:Hotels, year-round . doLaundries. .. - __ do .__Cleaning and dyeing plants do
Industrial disputes (strikes and lock-outs) :Beginning in month:
Work stoppages _ _ _ numberWorkers involved thousands
In effect during month:Work stoppages numberWorkers involved thousands
Man-days idle during month doPercent of available working time
U. S. Employment Service placement activities:Nonagricultural placements thousands
Unemployment compensation (Soc. Sec. Admin.) :Initial claims thousandsContinued claims doBenefit payments:
Beneficiaries, weekly average doAmount of payments thous. of dol
Veterans' unemployment allowances:Initial claims thousandsContinued claims do
Claims filed during last week of month__.doAmount of payments thous. of dol_ _
Labor turn-over in manufacturing establishments:Accession rate- _ .monthly rate per 100 employees. _Separation rate, total thousands _
Discharges _ doLay-offs doQuits doMilitary and miscellaneous do
WAGES
Average weekly earnings (U. S. Department ofLabor) : f
All manufacturing industries dollarsDurable-goods industries do
Ordnance and accessories doLumber and wood products (except fu rn i -
ture) dollarsSawmills and planing mills .do
Furniture and fixtures - ... doStone, clay, and glass products do
Glass and glass products do__ _Primary metal industries do
Blast furnaces, steel works, and rollingmills dollars
Primary smelting and refining of nonferrousmetals dollars
Fabricated metal prod, (except ordnance, ma-chinery, transportation equipment) dollars
Heating apparatus (except electrical) andplumbers' supplies... .. __ .. .dollars
Machinery (except electrical) doElectrical machinery doTransportation equipment do
Automobiles _ _ do .Aircraft and parts. . doShip and boat building and repairs.__doRailroad equipment do
Instruments and related products doMiscellaneous mfg. industries. . do
Nondurable-goods industries _ . _ doFood and kindred products do
Meat products _ _ doDairy products doCanning and preserving doBakery products doBeverages.. . _._ , __do
Tobacco manufactures _ doTextile-mill products .. _ . do __
Broad-woven fabric mills . ..doKnitting mills, _ ._ do
46.038.445.041.340.636.840.445.544.141.642.3
377572632673
4,470.6
4001,5228,778
1,809154, 695
4462,486
58645, 797
4.44.3.2
2.51.5.1
54.5157.8258.72
52.9153.5648.3653.5855. 9859.82
62.21
60.7157.3954.7259.9456. 1665. 4966.9462.9462.8262.7154.6149.72
50.9753. 6255.8755.2342.6352.2965.5938. 5742.9842.0940.73 1
45.138.545.441.3
40.837.241.145.644.141.541.0
343110603249
2.350.4
369
1,3837,4671,717
148,767
2792, 569
58248, 939
3.53.8.2
2.11.4.1
54.6357.3159. 6450-7551.2547.8652.9455. 2258.63
59.88
59.00
57.6154.8559.6756. 0066. 2768.6762.0861.9460.3254. 3748.7551.5554.6958.0255.7143.5952.6268.7938. 1943.2642.8740.44
44.738.445.141.4
40.737.241.145.644.240.839.5
365134
643232
2,140.3
4521,2528, 3531,952
170, 62952
936113
24, 135
4.44.0.3
1.81.8.1
54.7057.8958.44
52 8753. 5349.6954.1756.0859.45
61.3358.39
58.1357.6359.8656. 7365.9067.7862.0760.0562.0554.2548.5151.3153.0056.8754.7244.2751 8366. 2438 5844 3744.4141.11
44.338.644.541.4
40.736.640.245.544.141.241.7
287507536603
6,270.9
4661,0137,084
1,744154, 079
3138583
8, 775
4.14.221.82.1.1
55.7258. 6959. 7652 8353. 3550.7254.7355.8960.42
62.0759.24
59.2559.5660.4457.8867 1369.3363.5861.0061.8455.2650.5752.5953.6357.7855.2844.7952 8864 9238 3945 8245 7442.22
44.238.744.541.7
40.936.440.345.944.241.141.1
256570475977
17, 5002.7
4161,3638,363
1,528135, 707
31265
625,467
3.74.1.2
2.31.5.1
55.2658. 1759.97
54 1754.5451. 4255.5157.0458.35
55.90
59.87
58.5155.5860.2157.9764.7565. 8763.6759.1162.4956.0851. 4452. 4753.8356.5154.7645.9252 2964 4047 0447 5243.68
44.138.843.741.540.636.340.145.644.040.940.9
19757
388914
6,2701 0
3501,5457,584
1,698152, 170
2926860
5,291
3.34.0
.22.51.2.1
54. 4356.8257.82
52 4852.8950.7255. 2857.1957 4856.48
58.43
56.8859.3259. 2157 3661 9261.0366 6956.9763 1656.5251.7052 0754 1660 2353 9541 2952 ]263 6038 4647 2047 7643.28
44.538.443.741.840.938.140.345.843.841.241.0
17046
323417
1,3509
312
1,6308,259
1,889170 580
29280
615,474
3.23 2
9
1.91.0. 1
56.0459. 1960. 8552 6652.3152 5055. 6558.1662 9264 6559 6059.66
60 3961 3058 6365 3165 4466 4162.8663 3956.8452 2352 6954 57
60 9854 2943 2659 1663 1238 7647 6448 4042.34
44.238.544.141.7
40.636.940.045.843.941.541.2
225185340300
2,6004
3051, 7259, 0002,078
186, 38329
28966
5,753
3.63. 1.2
1. 71.1.1
56.2959 4060.70
48 0247.3851 1355.3259.3163 7965 8362 07
59.9359 2361 5758 4468 1270 1465 2061.4661 6056.4951 7852 9154 460 1955 6745 1552 0763 5239 9547 3648 1641.73
44.438.644.141.4
40.340.440.145.343.840.839.9
21075
325515
7, 8501 3
2891,2408,068
2,027167, 212
23258
0.35, Of>9
3.23.0
.21.71.0.1
56.3759 4760.88
50 5550.5952.2955. 5659.3663 4864 81
60 2459.6859.5962 5558 2666 5867 6465 6961.1664 8956.8651 6253 0654 0555 9954 8844 9452 9664 5238 4847 8848 1643.38
r 44 .438.544.1
Ml. 2
40.3r40.0r 40.0M5.8r43.8
41.040.6
26080
400530
3,7505
3681,2948,261
2,098187 215
2027558
5,713
3.62.9.2
1.41.2.1
r 56 53
T 59 7461 31
r 52 24r 51.85
r 52 17
r 55. 70
r 59. 35
r 62 40
r 61 84r 61 13
r 59. 64r 60 2063 34
r 58 44r 67 46r 69 08
65 2962.53
r 64 21r 57. 40
r 51 82
53 04* 54 42r 56 14r 54 63r 44 79r 52 75T 65 16T 39 49T 47 39r 47 79' 43. 55
r44. 738.744. 641.3
40.2r40. 1
40.1 45. 8
43.7'41.1
40.2
400160550300
3,1505
406
1 5436,656
1,559138, 969
1418743
3,838
3.52.8.2
1.21.3.1
56.93r 60 97
61 43T 53 36
53. 00r51 67' 56. 56r 59. 6665 04
65 95
r 61 65
' 60. 52r 60 3364 33
r 58 85r 70 38r 73 64
64 806L6664 52
r 57. 26T 51 86
r 52 21T 54 18r 55 68
54 8744 2952 4466 71
r 38 5945 51
T 45 81* 40. 60
44.938.945-441.3
40.4
40.040.046.2
43.841.843.0
450325650500
3,000.4
489
1 3676 702
1 567136 778
1416033
3,185
'4 .4r 3 1
.3 1 1
1.6. 1
r 57 72T 61 72r 61 54
r 54 5154 44
T 51 42' 57. 82
59 79r 65 61
65 86
61 98r 60. 77
60 78T 65 13r 59 43r 69 79
71 8465 7763. 0064 87' 57. 99r 52 64r 52 87r 55 Q2
57 1054 9845 0(>5i 5067 36S() 56
T 4 5 6'i45 8540.60
425260650400
2 7504
4941 1045 827
1 388119 430
18128
272,526
*5.0P 3 i
P 3p 9
*> 1 8v 1
r> 58 89P 63 14P 61 92
P 52 08p 58. 40P 67 44
p 62. 14
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P 58. 56P 52 14P 53 74P pj j j 27
P 4j 42P 46 59
r Revised. f> Preliminary. t Re vised series. See note marked "f" on p. S-ll.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-14 SURVEY OF CURRENT BUSINESS Au-ust
Unless otherwise stated, statistics through1948 and descriptive notes are shown in the1949 Statistical Supplement to the Survey June July August
1949Septem-
ber OctoberNovem-
berDecem-
ber
19
January | F*!U- J March( ary 1
50
April May June
EMPLOYMENT AND POPULATIONContinued
W A G E S Con tinu ed
Average weekly earnings, etc.f ContinuedAll manufacturing industries Continued
Nondurable-goods industries ContinuedApparel and other finished textile products
dollars. _Men's and boys' suits and coats doMen's and boys' furnishings and work
clothing dollars _Women's outerwear do.
Paper and allied products doPulp paper and paperboard mills do
Printing, publishing, and allied industriesdollars..
Newspapers do. ~Commercial printing do
Chemicals and allied products _ do ..Industrial orpnnic chemicals do"Drugs and medicines doPaints pigments and fillers do
Products of petroleum and coal __ doPetroleum refining do
Rubber products doTires and inner tubes _ do.- -
Leather and leather products doFootwear (except rubber) do
Nonmanufacturing industries:Mining:
Metal do\nthracitc doBituminous coal doCrude-petroleum and natural-gas production:
Petroleum and natural-gas productiondollars
Nonmetalic mining and quarrying doContract construction do
Nonbuildiner construction doBuilding construction do
Transportation and public utilities:Local railways and bus lines doTelephone doTelegraph doGas and electric utilities do
Trade:Wholesale trade doRetail trade:
General-merchandise stores doFood and liquor doAutomotive and accessories dealers do
Finance:Banks and trust companies do
Service:Hotels, year-round doCleaning and dyeing plants do
Average hourly earnings (U. S. Department ofLabor) :f
All manufacturing industries dollars. .Durable-goods industries . do
Ordnance and accessories doLumber and wood products (except furni-
ture) dollarsSawmills and planing mills do
Furniture and fixtures doStone, clay, and glass products do
Glass and glass products . doPrimary metal industries do
Blast furnaces, steel works, and rolling millsdollars
Primary smelting and refining of nonferrousmetals dollars
Fabricated metal prod, (except ordnance, ma-chinery, transportation equipment) _ dollars. _
Heating apparatus (except electrical) andplumbers' supplies dollars
Machinery (except electrical) .__ _ _ _ do- -Electrical machinerv _. doTran sportation equipment do
Automobiles doAircraft and parts _ _ _ _. doShin and boat building and repairs do.Railroad equipment do
Instruments and related products doMiscellaneous mfg. industries do
Nondurable-goods industries doFood and kindred products __ do -
Meat products doDairv products _ _ doCanning and preserving... _do-Bakerv products _ doBeverages do
Tobacco manufactures doTextile-mill products ._ do
Broad-woven fabric mills _ _ . do,Knitting mills. _ ... .. _ . do ..
40.1143. 8632.7646. 3354. 5457.9570.4778. 7370.8059. 0860. 5656.2859. 9071.8474. 7358. 2964. 0941.4639.24
60. 5345. 2859. 90
70.5957.8271.4171 . 3471.44
66. 0151.4662.9663. 64
57.4935. 6250.2659. 7043.1032. 8535 3242.17
1.4051. 4751.4791.3001. 3161. 2401. 3601. 4391.5911.6501.4991.4641.4671. 5291.4401.6581.6991.5541.6361 . 6081.3931.2621.3241.2891.3831.2061.1131.2391 5581.0151.1841.1791. 125
41.0344. 93
33. 0348. 5155. 5759.6570.4578.0270.0559.4461.5056.4059.3173. 5976. 6058. 3764. 4541.7439. 93
58.7566.0847.94
72.5456.7771.5572.2071.2865. 2151.9063.9764.0258.1835. 8651.1359.8343.8032.9035 0340.43
1.4081. 4771.4801.2881.3041.2401.3681. 4571.5891.6451.4891.4661.4551.5301.4471.6611.7041.6071. 6131.6001.3941.2501.3321.2961. 3881.2191.0981.2471.6111.0211. 1821. 1811. 114
41.9544.9632.8050.4056.2660.3270.6977.8069. 6658.7760.6856. 3259.5172.3875. 1057.7262. 3242. 0040.04
58. 1842.8049.51
70.7457.8672.1372.5671.9564.4651.5763. 6463. 9257. 1035.7551.0059. 5543.1032.9334 2738.63
1.3991. 4731.472
1.2991.3121.2301. 3081. 4381.5811.6311.4821.4681.4591. 5311. 4511. 6601.7031.5441.6101. 6161.3911.2471.3191.2711.3871.2161.0851.2491 . 600
.9971. 1801. 1811.111
44.0147. 9?33. 8753. 1357.6461. Ob72.0280.1470.2259. 6662.3356.9660.8874.4777.1161.0169. 9541.9939.74
58. 9659.2452. 46
72.4056. 6870.7370.8270. 6964. 5552, 6162. 8364. 7557.3535. 1750. 5759. 5143.6232.9034 6941.28
1.4071.4821.483
1. 2981.3141 . 2371.3821.4631.6071.6731.4961.474
1.4781. 5381.4471.6741.7161.5661.6181.6231.3991.2581 . 3281. 2831.3891. 2451.1171. 2561.595.987
1. 1871.1881.117
42.6346. 2034. 3549.4958. 3662.1071.2280.0669. 8459. 5162.2057.1660.9074.0976.1359. 5764.8341.7238.61
59.6375. 8163.10
73.8757.7772.0672.7171.8064.3153.2962.9765.7258.3634.6450.2559. 3943.9432.8434.5740.15
1.3921.4581.4881.2991.3111.2331.3741.4441.5561.6441.471
1.4591.4791.5361.4351. 6561.6891.5721. 6241.6231.4091.2641.3251.2911.3751 . 2391.1481.2571.590.994
1.1941.2001.123
40.3844.4833. 8245. 8058. 3162.0970.9179.0569. 3659.4362.4457.5160. 4372.1275. 4457.9163.9140.0836.40
52. 7367.9468.17
71.2055.7770. 1269. 9070.2164.1754.4062.0565. 0357.8634.3050.3758.7843.9633.1334 2339.96
1.3921.4571.488
1.2801.2901. 2311.3821.4591.5791.6421.4831.4511.4831. 5381.4341.0601 . 6861.6071.6371 . 6491.4133 . 2041.3251.3021.4071.2291.1131.2591.5861.0121. 1951.2001.127
41. 8246. 6433. 8249. 1358. 0962. 0972.2781.5071.1759. 7862.7557.2160. 8071.7474. 8359. 0464.7942.0339. 20
62. 3242.2248.74
71.5255.0869.7568. 1570.2665.1052. 4962. 2366.0458.2036.1250. 5458. 2643. 9533.2434 7740.47
1.4081.4761.4951.2751. 2821.2441.3811. 4651.5971.6451.4791.4731.4911. 5441.4441.6791.7131.6121. 6371. 6381.4211.277
1. 3341. 31S1. 4C61.2311.1821. 2631.5901.0191. 1971. 2011.126
42.7047. 72
33. 6350. 8657. 5661.6270.4976. 4370. 8060. 0563. 6357. 3761.2173. 7977.4160. 5267. 7042. 9040.77
64.1744. 6047. 36
76.2453. 3668.0165. 5668.7665. 1153.1362.8466.0958.1435. 6850.6858.7245.2933.0635. 1540.75
1.4181.4851.5101.2251.2371. 2441. 3901.4941.6151.6751.5031.4871.4921.5471. 4431 . f.821.7151 . 6021.6261. 6211.4231.2881.3431.3271.4031. 2511.1821. 2671.6001. 0331.2021.2041.134
44.4849.8835. 6452. 6357. SO61.71
70.7576.3870. 7059.9662.6458.0461.9871.6474.8459.9067. 2244.0842.22
62.8140.2349. 83
71.8854.3666.8966.9467.00
65.2253.6962. 9765. 08
58.27
35. 4450. 8557. 76
45.52
33. 5134 3939.26
1.4201.4831.507
1.2701.2841.2541.3891.4841.603
1.649
1.491
1.481
1. 5011. 5521.4421. 6771 . 70S1.6141.6311.6471 4251. 284
1 . 3501.3281.3861.2531. 1921. 2731. 6131. 0631.2091. 2011.166
' 43. 50r 50. 81
r 35. 62
r 49. 67
r 58. 06
r 61. 89
72. 14r 78. 42
71 56r 60. 09
r 62. 56
r 58. 53
r 62. 38r 71. 54
74. 88' 59. 70
65.26r 44. 15
T 42. 15
r 61. 8180.01
T 78. 75
r 70. 88
r 55. 37
r 68. 50
r 68. 34
f 68. 83
T 65 53
p 52. 9862 93
T 64. 81
58.56r 35. 04
r 50. 76
r 59. 22
r 45. 37
r33 07r 34 5fir 40. 40
' 1. 4241.4861. 510
r 1 293
r 1.293
r 1 251
f 1 . 389r 1. 480
r 1. 604
r 1 649r 1 502
r 1.480
' 1 . 505560
r . 443
r .678' 710
.612
.637r 638
r .435' .289
353r . 337
r 393
r .2501.217
r 1 271
r 1 625' 1. 076r 1 209
r 1 199' 1.177
r 40. 87' 47. 06
34. 9446.20
r 58. 25
r 62. 51
' 72. 1879.7770, 84
T 60. 52
r 63. 12T 58. 67r 62. 83
r 73. 73
r 76. 99' 61. 80
69.23r 42. 07
r 39. 32
63. 2957.25
f 72. 86
r 76. 36
T 57. 94r 70. 70' 70. 75T 70. 70
r 66.1153. 4464.1365.09
' 58. 69
r 34. 56r 50. 85r 60. 50
45.81
33. 1235 55
T 40. 16
1.4341.4981.513
r 1.3111.312
T 1. 2511.400
T 1. 4841.610
1.653
' 1.511r 1.487
r .512
. 569r .446
r .704
r . 745
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r .290r 1.356
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1.2471.2201.2761 639
r 1. 0871.2041.1931.160
i
r 41. 3048.67
35. 3345. 61
r 58. 0861.86
72. 6881. 0271.72
r 61. 2263. 9558.8763. 51
r 73. 3275.77
r 64. 4074. 68
r 41. 6838.62
62. 3868. 4870.01
72.8459.1873.1371.0973.60
66. 6353. 7665. 3865.01
'58. 74
35. 2450. SO60.94
45. 66
33. 2936 3243.43
' 1. 443r 1. 509' 1.512r 1. 3361.341
T 1. 248
r 1. 4051.480
T 1. 620
1.569
1.519
1. 493
1.512r 1. 577' 1.453r \ . f>98
1.7311. 6121. 6451.634
r 1.439r 1.303
' 1.3591 . 3421. 4031.2411.2081. 2861 635
r 1.081
r 1. 2041. 1911.160
"41.81
p 59. 94
p 72. 38
p 62. 71
p 74. 86
p 43. 92
p 1. 454p 1. 525p 1. 529
p 1. 258p 1.414
p 1. 637
p 1. 501
p 1 . 582P 1.451p 1.717
P 1.446P 1. 297
P 1 364p 1. 343
p 1.090p 1. 207
r Revised. Preliminary. fRevised series. See note marked "f" on p. S-ll.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
August 1950 SUEVEY OF CUEEENT BUSINESS S-15
Unless otherwise stated, statistics througli1948 and descriptive notes are shown in the1949 Statistical Supplement to the Survey
1949
June July August Septem-ber OctoberNovem- I Decem-
ber ber January { Fetal-
1950
March April May June
EMPLOYMENT AND POPULATIONContinuedWAGES Continued
Average hourly earnings, etc.f ContinuedAll manufacturing industries Continued
Nondurable-goods industries ContinuedApparel and other finished textile products
dollars _ _
Men's and boys' furnishings and workclothing dollars
"Women's outerwear doPaper and allied products do _
Printing, publishing, and allied industriesdollars. _
Newspapers doCommercial printing do
Chemicals and allied products doIndustrial organic chemicals doDrugs and medicines do
Products of petroleum and coal doPetroleum refining do
Rubber products doTires and inner tubes do
Leather and leather products doFootweir (except rubber) d.o
Nonmanufacturing industries:Mining:
Metal doAnthracite doBituminous coal doCrude-petroleum and natural-gas production:
Petroleum and natural-gas productiondollars
Contract construction doNonbuilding construction doBuilding construction do
Transportation and public utilities:Local railways and bus lines doTelephone doTelegraph doGas and electric utilities do
Trade:Wholesale trade doRetail trade:
General-merchandise stores doFood and liouor doAutomotive and accessories dealers do
Service:Hotels, year-round doLaundries doCleaning and dyeing plants do
Miscellaneous wage data:Construction wage rates (E. N. R.):
Common labor dol. per h r _ _Skilled labor do
Farm wage rates, without board or room (quar-terly)* dol per hr
Railway wages (average, class I) _ . _ doRoad-building wages, common labor do
1.1331 317
.9151.3391. 3401 410
1.8212.1051 7701. 4481 5451.4001 4541.7871. 8731.5281.7511. 1361 090
1.4911. 9351.951
1 7781 320l'8561 7041.924
1.4351.3401 3991.541
1.416
9881 2441.312
.745849
.997
1.4412.394
1.375
1.1591 306
.9151.4311.3521 427
1.8252.1031. 7601.4641. 5651.4101 4501.8081.8961.5201. 7611.1281.085
1.4911.8881.910
1.8001 3081.8561.7121.922
1.4461.3481.4091. 550
1.426
.9641.2441.312
.746
.844
.986
1.465r 2. 413
.741.3921.16
1. 1751 342
.9011.4651.3461 416
1.8362. 1141. 7591. 4511. r)481.4081 4481.7961.8871.5071.7311.1291.091
1.4731.8291.897
1.7641 3061.8621.7121.932
1.4421.3431.4111.544
1.403
.9611.2441.306
.745
.840
.978
1.4702.434
1.373
1.1961 353
.9181.4841.3531 420
1.8422.1371.7601.4411. 5661.4101 4671.8121.9041.5141.7891.1411.104
1.4891.8631. 943
1.7921 3121.8741.7301.938
1.4571.3631.4121. 564
1.409
.9611.2581.308
.746
.842
.990
1.4782.453
1.565
1.1681 347
.9161.4471.3541 421
1.8452. 1351.7681.4271.5591.4081.4711.8071.8891.5121.7381.1431.100
1.4871. 9341.978
1.7931 3071.8811.7411.944
1. 4551.3771.4151.576
1.427
.9521. 2471.294
.743
.841
.977
1.4782.458
.641.5621.17
1.1311 352
.9191.3631. 3561 424
1.8372.1251.7651.4321 . 5611.4131 4741.8031.8861.5081 . 7321.1421 093
1.4771.9031.999
1 7801 3061.8911.7541.947
1.4551.4021.4201.567
1.425
9451. 2561.289
.753
.837
.977
1.4782. 462
1. 569
1. 1051 344
.9)91.4241.3541 424
1.8392.1391.7661.4371.5611.4091 4831.7981. 885i. 5061. 7371.1331.083
1.4981.9191.919
1 7881 2991.9171.7771.964
1. 4631. 3671.4241.580
1.423
9481. 2541.272
.759844
.987
1.4782 462
1.572
1.1861 348
. 9291.4531. 3641 433
1.8312. 0941.7701.4541.5791.4131 4931.8131. 9021.5361. 7631. 1381.090
1.5171. 8661.933
1.8241 2891.9321. 7531. 976
1.4731.3801. 4251. 585
1.432
9671. 2671.282
.753
.847
.989
1.4852.462
.751.5741 17
1.2121 348r.979
1.4661. 3601 422
1.8522.1041.7991.4591. 5661.4261 4971.8001.8901. 5281. 7551.1571.117
1.4991. 9531.962
1.7971 3131. 9501.7711.988
1.4691.3911.4281.572
1.446
.9631.2681.275
.765
.843
.984
1.4852.456
1.601
r 1. 195
T 1 355
T .984
r 1. 403' 1 . 363r i 426
' 1. 8692.1311.807
'1.462r 1. 564'1.431' 1 496' 1 . 802' 1.891r 1. 5191. 745
r 1. 165
r 1. 127
1.5041.928
' 2. 009
1 7811 3311.9541 7661.995
1.4761.3761 4271.573
1. 453
960r 1 269
r I 293
. 755T 843
T .995
1.4862 469
i. 552
' 1. 161r 1.337
.9871.339
' 1. 377' I. 447
' 1. 8702. 1501.798
1. 469' 1. 574r 1. 438' 1. 503r 1. 807' 1. 901'1.545
1.775r 1. 172* 1. 130
' 1. 5251. 974
' 2. 024
* 1. 801' 1 332' 1. 937' 1.734' 1. 986
' 1. 4791.3811.4381.576
' 1. 460
952' 1. 268' 1.321
.758
.865'.999
1.4932. 478
7n1.5741. 13
'1.1571.337
.9841.3221.3731.432
' 1. 8782.1721.802
' 1. 4861.5791.4431.505
' 1. 8061.899
'1.5671.817
r 1. 1741.126
1.5141.9852.006
1. 7681 3421.9501.7512.000
1.4841.3821.4401.574
1.454
.9681.2701.319
. 760
.8691.010
1.5112. 48G
1.558
p 1. 168
v 1. 394
P 1.875
p 1.511
p 1.817
p 1. 168
1. 5282. 517
" .73
FINANCEBANKING
Acceptances and commercial paper outstanding:Bankers' acceptances mil. of d o l _ _Commercial paper _ __ _ do
Agricultural loans outstanding of agencies super-vised by the Farm Credit Administration:
Total mil of dolFarm mortgage loans, total _ _ _ _ _ _ d o
Federal land banks doLand Bank Commissioner _ - do_- _
Loans to cooperatives _ _ _ doShort-term credit do
Bank debits, total (141 centers) _ _ do _New York Citv __ _ doOutside New York City do
Federal Reserve banks, condition, end of month:Assets, total mil. of dol_-
Reserve bank credit outstanding, totaL--doDiscounts and advances _ _ _ doUnited States Government securities _ do_ _
Gold certificate reserves _ _ doLiabil ities, total do
Deposits, total doMember-bank reserve balances _ _ d o
Excess reserves (estimated) doFederal Reserve notes in circulation do
Reserve ratio percent.-
198199
1,786946880
65250591
98, 27642, 89055, 386
45, 50219, 696
10319, 34323 24545, 50219, 24617, 867
94823, 373
54.5
194211
(i)0)0)0)
258600
88, 35336, 46751,88644, 93719,239
31718, 52923, 28544, 93718, 96817, 437
75223, 305
55.1
189230
(0(')(i)0)
261590
88, 53636. 07052, 466
44,19218, 225
53117, 52423, 36244, 19218, 03616,5121,175
23, 27356.6
207265
1,791951890
62281559
90, 25737, 19153, 066
44, 32318, 415
10918, 01023 35044, 32318, 17315, 947
77123 278
56.3
215278
(i)(i)0)(1)
306506
90, 74736, 33454 413
43, 51317,860
28317,31623 32043, 51317, 63215 850
58923 247
57.0 1
251278
(i)(i)(i)(i)
313471
88, 58835 24953 339
44, 27218, 267
32217, 68223 23244, 27217, 79316 038
67123 373
56.4
272257
1 712956899
5730fi450
106 27445 78160 493
45, 64319, 499
7818 88523 17645, 64318, 90616 5681,018
23 48354.7
280258
(i)(i)0)0)
294453
95 33638 96256 374
44, 19418, 326
14517 82723 16844, 19418, 34816 211
69822 926
56.1
256257
(i)(i)(i)0)
279476
86 27335 72750 546
44, 09718, 226
13017 74623 12044, 09718, 06415 973
58322 974
56.3
245258
1 744'96991653
265510
104 02743 11260 915
43, 56818, 070
92517 59223 02043, 56817, 79615 657
50722 911
56.6
237257
(i)0)(i)(i)
255540
91 71437 02554' 689
43, 89518, 301
11317 79623 03543, 89518. 08315 878
67622 880
56.2
231250
0)1
(i)(i)
247564
100 28141 46358 818
43, 52517, 935
30617 38922 99843, 52517, 65515 814
-52692 836
56.8
279240
1 81698093149
246589
107 10243 78163 321
44, 28418, 703
4318 33122 98244, 28418, 31615 934
P42722 921
55.7r Revised. Preliminary. a Rate as of July 1, 1950.
1 Beginning July 1, 1948, farm mortgage loan data are reported quarterly.
fRevised series. See note marked "f" n P- S-ll.Rates as of July 1, 1950: Common labor, $1.538; skilled labor, $2.524.*New series. Comparable data prior to January 1948 are not available.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-16 SUBVEY OF CUERENT BUSINESS August 1950
Unless otherwise stated, statistics through1948 and descriptive notes are shown in the1949 Statistical Supplement to the Survey
1949
June July August Septem-ber OctoberNovem-
berDecem-
ber
1950
January Febru-ary March April May June
FINANCEContinuedBANKING Continued
Federal Reserve weekly reporting member banks,condition, Wednesday nearest end of month:
Deposits.Demand, adjusted mil. of dol__Demand, except interbank:
Individuals, partnerships, and corporationsmil. of dol_
States and political subdivisions doUnited States Government do
Time, except interbank, total _ doIndividuals, partnerships, and corporations
mil. of dol__States and political subdivisions do
Interbank (demand and time) doInvestments, total _ _ _ do _ _
U. S. Government obligations, direct andguaranteed, total _ _ mil. of dol
Bills doCertificates _ _ _ _ d o .Bonds and guaranteed obligations doNotes _ do _
Other securities doL/oans, total do
Commercial, industrial, and agricultural. doTo brokers and dealers in securities doOther loans for purchasing or carrying securities
mil. of dol__R eal -estate loans . .._ _ _ doLoans of banks do_ _.Other loans _ _ do
Money and interest rates :d"Bank rates to customers: f
In New York City percentin / oi er nori e a e c* e. - _ - __
Discount rate (N. Y. F. R. Bank) d o _ _ _Federal land bank loans doFederal intermediate credit bank loans do. _Open market rates. New York City:
Acceptances, prime, bankers', 90 days doCommercial paper, prime, 4-6 months .do___Time loans, 90 davs (N. Y. S. E.) doCall loans, renewal (N. Y. S. E) doYield on U. S. Govt. securities:
3-month bills - d o _ _ _3-5 year taxable issues - _ _ _ d o _ _ .
Savings deposits, balance to credit of depositors:New York State savings banks mil. of dol__U. S postal savings do
CONSUMER CREDIT
Total consumer credit, end of month . _ _ mil. of dol__Instalment credit, total . do-_.
Sale credit, total doAutomobile dealers do -Department stores and mail-order houses
mil. of dol._Furniture stores doHousehold-appliance stores doJewelry stores doAll other retail stores do
Cash loans, total - doCommercial banks _ _ _ _ _ do_Credit unions _ ._ _ _ do. --Industrial banks __ doIndustrial-loan companies doInsured repair and modernization loans
mil. of dol-_Small-loan companies _ doMiscellaneous lenders do _
Charge accounts _ _ _ doSinglc-pavment loans doService credit. _ _ _ _ _ do-_-
Consumer instalment loans made during the month,by principal lending institutions:
Commercial banks _ mil. of dolCrodit unions doIndustrial banks _ _ doIndustrial-loan companies _ _ _ _ _ _ _ do_Small-Ioan companies do
FEDERAL GOVERNMENT FINANCE
Budget receipts and expenditures:Receipts, total mil. of doL-
Receipts, net - do _Customs doIncome and profits taxes doEmployment taxes _ - do -.Miscellaneous internal revenue doAll other receipts _ _ do _ _
Expenditures, total t do _ _Interest on public debt doVeterans Administration _ _ - _ doNational defense and related activities___doAll other expenditures do
46,093
45, 8053,3611, 356
15, 37514, 596
6649,526
38, 69934, 149
1, 7935,274
26, 132950
4, 55023, 88313, 181
1,955657
4,118292
3,981
2.352 863 171.504.082.041.191.561.631.63
1.1581.42
10, 7183,277
16, 1249,1234,8702,499
774718382124373
4, 2531, 836
346219167
726827132
3,2742,752
975
303683828
140
4,9284,767
283,819
137704240
4, 6561,570
5251,2101,350
46, 282
45, 6853,4321,591
15, 282
14, 520641
10, 03240, 637
35, 7732,6035,716
26, 3941,0604,864
23, 15912, 8261,520
6634,143
2644,049
1.504.082.04
1.061.561.631.63
.9901.26
10, 7533,266
16, 1989,3355,0102,610
7R6730405121378
4,3251,866
357225169
732843133
3,1232,768
972
282593528
155
2,0611,946
251,209
65653110
3,434322494
' 1, 033' 1, 585
46, 737
46, 4163, 3672,196
15, 270
14, 502647
10, 09542, 288
37, 3073,2606,392
26, 5361,1194,981
23, 49112, 9651,609
6654,185
2734,102
1.504.082.04
1.061.441.631.63
1.0271.26
10, 7863,248
16, 4539, 6225,2232,761
781755417121388
4,3991, 897
369230171
747851134
3,0642,799
968
294663729
143
2,9172,479
321,568
404749165
3,585125522
' 1, 165' 1, 774
46, 457
46, 4653, 1652,636
15, 255
14, 501632
10, 06542, 064
37, 0042,6087,181
26, 0911,1245, 060
23, 99813. 3841,668
6384,207
2334,178
2.322 643.071.504.082.04
1.061.381.631.63
1.062i 1. 34
10, 8303,230
16, 8039,8995,4382,876
818784435121404
4,4611,922
379235172
763855135
3,1232,808
973
278653427
128
4,8854, 832
333,893
144714101
3,995544859
' 1,024' 1, 568
46, 848
46, 8673,2992,335
15, 228
14, 500605
10, 68742, 341
37, 3882,6187,273
26, 3471,1504,953
24, 32513, 6941,618
5974,246
2074,266
1.504.082.04
1.061.381.631.63
1.044i 1.38
10, 8603,215
17, 22310, 166
5, 6612,986
855822454123421
4,5051,936
385239172
780858135
3,1972,866
994
272593426
134
1,9931,881
351,060
6575379
3,111255502
' 1,002' 1, 352
47, 648
48, 0373, 2552,117
15, 162
14, 431608
10, 30542, 226
37, 2482,3457, 257
26. 4701,1764,978
24, 61313, 7751,623
6264,299
2144,393
1.504.082.04
1.061.381.631.63
1.073U.37
10, 2963, 199
17, 81510, 441
5, 8803,085
9H6858464127440
4, 5611,944
394244173
794875137
3, 4542,927
993
269643628
161
2,7272,344
371,489
356722124
3,1272306
547' 1 , 056' 1,218
48, 253
48, 8573,2961,955
15, 288
14, 537621
10, 72942, 527
37, 4692,5446, 856
24, 6373,4325,058
24, 89413,9041,608
5994,342
3194,445
2.382.673.031.504.082.04
1.061.311.631.63
1.097i 1.37
11, 0873,182
18, 77910, 8906, 2403, 144
1,010935500103)488J
4, 6501, 951
402250175
801929142
3, 9092,9*8
992
280094131
232
4,2554,191
353,214
139720147
3,72221,008
489' 1,095' 1,130
47, 767
47, 6003,4562,322
15, 333
14, 578627
10, 39442, 780
37, 5952,7626, 152
24, 7963,8855,185
24, 48613, 9181,364
5734,396
1544,455
1.504.082.00
1.061.311.631.63
1.1001 1.39
11,1793,183
18, 34410, 8366,1743.179
975902491
4, 6621,957
404251175
802931142
3, 5063, 003
997
269593727
131
3,4803, 366
372. 545
67645186
3, 3232 463
516' 1, 046' 1, 298
46, 926
47, 1933,4542,302
15, 377
14, 647609
10, 41542, 090
36, 7742,2125,071
24, 8624,6295,316
24, 74113, 8341,529
5704,413
3024,470
1.504.082.00
1.061.311.631.63
1.130U.44
11,2373,177
18, 12610, 8846,2133, 256
958891492A1 f\
4, 6711,973
408254174
792928142
3,2333.0011,008
268613425
126
3,6072,972
352,342
54459988
2,4962161
502'936'897
46, 162
45, 8483,4312, 691
15, 397
14, 660617
9,99441, 677
36, 1181,7684,638
24, 0165,6965,559
24, 88613, 790
1,670
5884, 465
2124,540
2.292 553.121.504.082.00
1.061.311.631.63
1.140i 1. 45
11,3253,168
18, 30211,0776, 3443,355
960899502
o
4,7432, 026
4212,58176
783936143
3,2113, 0091,005
336784331
163
5,6224,820
434,429
36270188
3,2692 636
588r 1, 051
'994
46, 928
46, 6723,6011,668
15, 472
14, 717633
10, 35641, 525
35,9161,7534,307
24, 0805,7765,609
25, 00913, 4201,813
6244, 522
3684,644
1.504.082.00
1.061.311.631.63
1.16411.45
11, 3633,151
' 18, 62011, 3226,5113,470
979913518C01
'4,8112, OG6
431202178
'785945144
3,2413, 0481, 006
307703728
154
2,0921,488
341,267
93629
692, 847
2 184509
' 964' 1, 190
47, 533
47, 8563,5711,982
15, 496
14, 738636
9,93042, 070
36, 4562,1254,420
24, 1935, 7185,614
25, 03313, 3591,801
6274,595
2354,800
1.504.082 00
1.061.311.631.63
1. 167i 1.45
11,411r 3, 125
P 19, 077P 11, 6G8p 6,733P 3,600p 1,011
F 935p 537P DOU
P 4, 935v 2, 134
p 450i- 267p 182
p 798f 959v 145
p 3, 290p3 , 114P 1,014
P348P83P43P32
P168
2,8952,320
381,721
295704138
2,9622 136
504' 1, 007' 1,315
47, 972
47, 9253.6112,350
15, 552
14, 768652
10, 09842, 376
36, 6382,6412,916
24, 4336, 6485, 738
25. 58413, 602
1,717
6524,682
4054,912
2.342.673.221.504.082.00
1.061.311.631.63
1.175U.47
11, 512
p 19, 027p 12,063
p 6, 950p 3. 761
p 1,028P947P 552
P 5. 113* 2. 233f 474
v275P 188
P818p 978pl47
P 3, 399p 3, 140p 1,025
p93P46p34
p 175
4,7764,404
403, 526
349714146
4,29621.611
998465
1,222r Revised. P Preliminary. l Series was changed on September 12 to two bond issues (2 percent December 1952-54 and 2^ percent March 1956-58) and on April 1 to 1% percent Treasury
notes of March 15, 1954 and I1/' percent Treasury notes of March 15, 1955. 2 Beginning November 1949, data re presents interest due and payable, previously, interest paid.cf For bond yields see p. S-19.tRevised series. Bank rates to customers have been revised to reflect a change in the reporting form; for the series shown here no revisions were made prior to June 1948.JSee note at bottom of p. S-17 of the May 1950 SURVEY for data on recent revisions. Further revisions have been made beginning with July 1949 by the transfer of certain items formerly
under "national defense and related activities" to "all othei expenditures."Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
August 1950 SUEVEY OF CURRENT BUSINESS S-17
Unless otherwise stated, statistics through1948 and descriptive notes are shown in the1949 Statistical Supplement to the Survey
1949
June July August Septem-ber OctoberNovem-
berDecem-
ber
1950
January Febru-ary March April May June
FINANCEContinuedFEDERAL GOVERNMENT FINANCE Con.
Debt, gross:Public debt (direct), end of month, total
mil. of doL.Interest-bearing, total do __
Public issues ... _. __do _ _ _Special issues do
Noninterest bearing doObligations guaranteed by U. S. Government,
end of month mil. of dolU. S. savings bonds:
Amount outstanding, end of month doSales, series E, F, and O doRedemptions do
Government corporations and credit agencies:Assets, except interagency, total mil of dol
Loans receivable total (less reserves) doTo aid agriculture __ __ _doTo aid home owners doTo aid railroads doTo aid other industries doTo aid banks doTo aid other financial institutions doForeign loans doAll other do
Commodities, supplies, and materials doU S Government securities doOther securities doLand structures and equipment doAll other assets do
Liabilities, except interagency, total doBonds, notes, and debentures:
Guaranteed by the United States doOther do
Other liabilities doPrivately owned interest doU S Government interest do
Reconstruction Finance Corporation, loans andsecurities (at cost) outstanding, end of month,total . mil. of dol
Industrial and commercial enterprises, includingnational defense mil. of dol
Financial institutions doRailroads _ do __States, territories, and political subdivisions-doUnited Kingdom and Republic of the Philippines
mil. of dol__Mortgages purchased doOther loans do
LIFE INSURANCEAssets, admitted:
All companies (Institute of Life Insurance), esti-mated total mil. of dol
Securities and mortgages. . ._ do49 companies (Life Insurance Association of
America), total t - - _ - - --- rail. ofdoL.Bonds and stocks, book value, total do
Govt. (domestic and foreign) total doU. S. Government _ do
Public utility doRailroad _ _ _ _ _ d oOther do
Cash _ __ doMortgage loans, total do
Farm__ _ _ _ _ _ d oOther do
Policy loans and premium notes doReal-estate holdings _doOther admitted assets do
Life Insurance Agency Management Association:Insurance written (new paid-for-insurance) :
Value, estimated total mil. of dol.Group __ doIndustrial doOrdinary, total do
New England _ _ _ doMiddle Atlantic doEast North Central do...West North Central . _ _ _ _ _ d oSouth Atlantic^ doEast South Central d o _ _ _West South Central. doMountain _ doPacific. __ _ do
Institute of Life Insurance:Payments to policyholders and beneficiaries,
estimated total thous. of dolDeath claim payments doMatured endowments doDisability payments _ _ ... do. .Annuity payments.. _ . do _ _ _Policy dividends doSurrender values . . . _ __do_ __
252, 770250, 762217, 98632, 776
2,00927
56, 333485451
22, 23211, 7703,847
980120364
4368
6, 108488
1,1402,0043,5082,946
8652,377
26865
1,487172
19, 682
1,45838412311730
17459237
57, 23351, 92151, 14336, 809
r 16, 37914. 3378,9772, 865
r 8, 589
676r 9, 712
9158,7971, 8661, 0281,052
1,890242396
1,25281
28926312713552
11445
145
304, 428124,88842, 6368.347
20, 86856, 11851, 571
253, 877251, 880218, 83133, 049
1,996
26
56, 522511425
1,522
39912211730
17364337
57, 50352, 251
51, 36436, 95116, 14914, 1069, 0902,8618,851
6509,828
9288,9001,8781,0421,015
1,657179356
1,12273
263235113124469940
130
267, 451115,81034, 227
7, 47519, 97042, 99046, 979
255, 852253 921220, 56333 3581,931
27
56, 602449439
1, 603
41612311730
17670338
57, 76852, 390
51, 58936, 91116, 01613. 9749,1342, 8558,906
7039,971
9389,0331,8921,0451,066
1,778250381
1,14769
24924311613250
10842
138
286, 065130 18835, 505
7,91218,73943, 82849. 893
256, 680254, 756220, 84233 914
1,923
29
56, 663398411
22 59411 7203,6171 123
120407
4347
6 090494
1,5962 0693,5012 933
775
1,957
28856
1,074
17720, 460
1,670
43412211730
16776237
58, 08252, 640
51, 85836. 98415, 98713, 8839, 1532, 8508,989
69210, 117
9489,1701,9041, 0591,101
1,718249384
1,08567
23423111212349
10138
128
276, 238115, 71136, 027
7, 64119, 85647, 32949. 674
256, 778254 876221 06633 8101 901
28
56 729388396
1, 737
44312111730
16582437
58, 40752, 903
52,13437, 06415.90513 7819 1962 8579 106
72410 234
9589 2761 9151,0771 120
1, 861267416
1 17877
277251111137539940
134
276, 422121 36538 5658, 136
20, 07839 72948. 549
256, 982255 124221, 29533 829
1,858
29
56 774383415
1,825
47211811729
16189137
58, 69953, 171
52, 38937, 16215,79713, 6829 2612, 8599 244
69710 388
9669 4221, 9251, 0901 127
1, 901308395
1 19883
27825611314052
10241
133
276 654120 82838 559
7, 86719, 68938 63851. 073
257, 130255 019221, 12333 8962,111
29
56, 910495466
23 73312 7334,3621,251
114462
4442
6 090484
1,5492 0473,4922 962
950
2,520
28772
1,720
18321 030
1,874
481114112
29
14995137
59, 28053, 652
52, 87937, 39715, 92113 7799 3142 8649 298
70610 569
9789 5911 9341, 1021 171
2,195504360
1 33186
28928013315658
11759
160
339, 057132 67337 9338 534
17 09783 64059. 180
256, 865254, 869221,36733 502
1,997
27
57, 108707618
1,951
50011411129
1471,012
37
59 78153, 911
53, 18437,41115, 88113 7439 3?02 8669 345
85210 691
9879 7041 9431,1131 173
1,745212402
1 13185
293239104124449535
111
327 079132 25946 6438 969
25 32360 42253. 463
256, 368254, 406221, 53532, 8711,962
27
57, 345581418
1,998
50711311C27
1451, 060
37
60, 08054, 252
53. 44537, 58815, 85313, 7169 4732 8779 386
70410 8311, 0069 8941 9521, 1241 246
2,335706433
1 196
29425311113648
10540
127
288 708124 54938 750
7 goo19 43447 16851 '.007
255, 724253. 506221', 40832 098
2, 218
24
57, 446524510
24, 36013 3504,8511,324
113496
3328
6 101492
1, 5672 2213,4882 932
801
2,801
21708
2,072
19021 368
2 043
516112110
1391,102
37
60 38254, 592
53, 69737, 68715, 83413 6849 5032 8789 472
6711 0161 0209 9961 9031, 1341 210
2,413443490
1 48096
35930713816665
13548
165
358 738152 03448 0708 354
21 70465 46063' 1 1 6
225, 718253 516221 71431 802
2,202
22
57 534423413
2,070
52411211125
1371,125
37
60 66054, 839
53, 93637, 71615, 79013, 6409 5512 9069 468
68911 1811 036
10 1441 9721 1441 234
2,171382445
1,34488
31727712115960
12048
154
9% 802128 73140 2167 884
19 88846 463521 620
256, 350254, 183222, 31531, 8682,167
20
57, 576416454
2, 105
54211011125
1331,147
37
60, 97355, 034
54, 19637, 67415, 59813, 4539 6382 9149 524
71911 3791 054
10 3251 9831, 1591 283
2, 273341471
1 45398
33629312917961
13253
172
313 640VM 94141 2988 440
21 46645 139.59 a.
257, 357255, 209222. 85332, 3562,148
20
57, 629398456
2, 08.^
51811011025
12S1,156
37
61. 30755,311
54,47637. 67915.38313 2569 7^02 9499 607
79411 61 11 071
10 5401 9941, 1701 22
2 280431431
1 41896
39429212S16860
13450
165
330 149I ' J ' J Q7'J
48 1 178 583
21 56857 664fin' 944
r Revised.JSee corresponding note on p. S-17 of the March 1950 SURVEY.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-18 SURVEY OF CURRENT BUSINESS August 1051"
Unless otherwise stated, statistics through1948 and descriptive notes are shown in the1949 Statistical Supplement to the Survey
1949
June July August Septem-ber OctoberNovem-
berDecem-
ber
1950
January Febru-ary March April May June
FINANCEContinued
LIFE INSURANCE Continued
Life Insurance Association of America:Premium collections (39 cos.), total. thous. of dol. .
\ccidcnt and health do\nnuities doGroup _ _ _ _ _ d oIndustrial doOrdinary do_
MONETARY STATISTICS
Gold and silver:Gold:
Monetary stock IT S mil. of dolNet release from earmark_ thous. of dol__Gold exports doGold imports _ doProduction, reported monthly total J do.. .
\frica doCanada _ _ _ . d o _ _United Statesi do._
Silver:Exports doImports _ _ _ _ _ . _ - doPrice at New York dol. per fine oz _Production:
Canadad"1 thous. of fine ozMexico _ _ do.United States do..
Money supply:Currency in circulation mil. of dol .Deposits, adjusted, all banks, and currency out-
side banks, totalQ mil. of doL_Currency outside banks __ . . _ ._ do_ _Deposits, adjusted, total, including U. S. de-
positsQ mil. of dolDemand deposits, adjusted, excl. U. S _ _ d oTime deposits, incl. postal savings do
Turn-over of demand deposits, except interbank andU. S. Government, annual rate:
New York City ratio of debits to depositsOther leading cities do-_ _.
PROFITS AND DIVIDENDS (QUARTERLY)Manufacturing corporations (Federal Reserve):*
Profits after taxes, total (200 cos ) 9 _ mil. of dol__Durable goods total (106 cos ) 9 do
Primary metals and products (39 cos ) 9 do. ._Machinery (27 cos ) 9 doAutomobiles and equipment (15 cos )9do
Nondurable goods total (94 cos ) 9 doFood and kindred products (28 cos ) doChemicals and allied products (26 cos ) 9 doPetroleum refining (14 cos ) - do
Dividends total (200 cos ) doDurable goods (106 cos ) . doNondurable goods (94 cos ) 9 do
Electric utilities, profits after taxes (Fed. Res.) 9mil of dol
Railways and telephone cos. (see p. S-23).SECURITIES ISSUED
Commercial and Financial Chronicle:Securities issued, by type of security, total (new
capital and refunding) __ _. mil. of doL.New capital, total _ do
Domestic, total .doCorporate doFederal agencies do ...Municipal, State, etc . _ do
Foreign doRefunding, total . _ _. do ...
Domestic total doCorporate doFederal agencies _ doMunicipal, State, etc -do
Securities and Exchange Commission: JEstimated gross proceeds, total do
By type of security:Bonds and notes, total do
Corporate doCommon stock, _ . _ doPreferred stock do
By type of issuer:Corporate, total do
Manufacturing*. _ doPublic utility f . doRailroad doCommunication*.. _ _ _ doReal estate and financial do
Noncorporate, total doU. S. Government do^State and municipal do
499, 255r 33, 05463, 102
r 34, 59175, 018
293, 490
24, 466121. 632
o. 48312, 38964,82339, 30712,0155,529
1,81810, 237
.7152,1984, 3002,676
27, 493167,93025, 266
142, 66481,87758, 483
29.818.7
726470144
77218256
548392
354188166180
' 1, 649r 1, 555T 1, 540
r 1, 201
24315
15949431621
2.701
2.5701. 154
7457
1.286170530
4538891
1.4151 . 099
316
372, 94328,17114. 31630, 36260,330
239, 764
24, 520-19.936
6, 890137,98663, 10239, 96611.4215,728
11,9106,824
.715
1,7353,5002,349
27, 394
167, 90024, 900
143, 00083, 10058, 400
28.718.5
765685441432
90
244797822560
2.385
2.3264744613
533204118512740
1.8521.606
245
434, 47232, 92750, 96537, 53565, 659
247, 386
24. 608-208, 540
11,563268, 936
66, 22440, 38012, 5696,505
2,0906.056
.719
1,1964,6002,909
27, 393
170,00025, 100
144, 90083, 40058, 400
25.517.1
617309291117
017418
308204
8195
1
2,105
2,0361524622
22045979Q126
1 8841. 608
175
465, 99529, 96452. 86530, 48575,341
277, 340
24. 602-154,799
15,857114,00265, 40039. 36612. 7356, 239
1605, 628.732
1,1444,7002,167
27. 412
170, 10024. 900
145, 20083, 10058, 400
28.018.6
79950813075
26729263
10586
331184147
173
70751951012769
31410
18818838
1464
1,700
1.6392103527
2722694164
591 428
894318
414, 06831, 11653, 96432, 97363, 054
232, 961
24, 584-89,117
2,39758, 52765, 42239, 01212, 8047,306
867,508.733
1,8944, 0002,884
27, 407
171,20024, 900
146, 30084, 30058, 400
27.318.5
823675639405
023436
1481489153
4
1,633
1,5283086144
41384
196411311
1 220978238
435, 49931, 62751, 97331, 60661, 410
258, 883
24, 479-63, 939
2, 90S10, 62966, 14038, 50912, 6597,385
1846, 370.733
1,5043,8003,101
27, 543
171.30025, 100
146 20085, 00058, 000
27.219.1
489379379150
0229
o109109355222
1 293
1 2122514436
33236
136101792
901707251
653, 74242, 178
115, 20740. 929
108,014346, 914
24, 427 59,399
10. Ill8,697
63, 65338, 49213, 0586, 609
6804,060
.733
1,7184,8003, 193
27, 600
173, 03025, 415
147,61585, 75058, 616
32.520.0
76642410091
200342
64115109629380249
195
731513513315
0198
o2182181055657
1 842
1 68441612236
57464
30531
485
1 2681 Oi l
9.tt
483, 24832, 28479, 11851. 21372, 425
248, 208
24, 395-93, 162
46, 201
38, 78012,3995, 869
478, 065
. 733
1,1963,7002,965
20, 941
v 172, 900v 24, 500
p 148, 400T 86, 400v 58, 700
28.618.9
1,18581781755330
233o
369269108159
1
2 098
1 9845004470
61432
21294
20620
1 4841 118
92 K
469, 51732, 14564, 43534, 44466, 613
271,880
24 345-50,411
4, 1194, 350
36, 45612, 2475,506
304,355.733
1, 3854,1002,496
27, 068
P 172,400p 24, 700
p 147,700r> 84, 500p 59,000
29.318.9
80971170814613
5503
988320576
1 631
1 5712004713
25964
11813(i\24
1 371810t^dfi
558,51039, 69667, 70142, 88679, 324
328, 903
24 246 95,432
4, 3382,706
39, 66113, 4176,084
1106,317
.731
1,7683,8003, 721
27, 042
p 171, 500p 24, 600
p 146 900v 83, 300P 59, 300
29.419.3
P 852v 529f 175
T 86
*234J 323
p 51f 122
p 91P 387v 220v 166
_>230
1,060769750365
21363
19292229168583
1 866
1 772452
6430
54750
21010818
1391 320
88')1 (\t\
420, 37133, 12351, 56631, 55358, 570
245, 559!
24 247-59,175
2,13055,419
37, 61512, 9416.717
623,412
7181,4543, 1004 224
27 048
P 171. 800p 24, 600
P 147 9QOp 84, 500p 59 500
29.719.4
70054052039793
17020
1601608965Q
r i 300
r \ 103r 293r 13Q
61r ^qn
r 3(]T 2'39r 3]^
23T S7810
r (J341 7A
474.30539 X l>352, 13238,31170 648
273. 391
24 31-29, S73
1 55314. 028
13, 082r 6 819
708, 253
726
3 8003 890
27 OQOP 172, 700
p 24 700
P 148 000p So, 300p 59 500
29.719 2
1 06177177042739
30412909073114
T 1 f)78
r 1 ^f)
-c
r 1 ftQ"317
1r -:>o
r i r> i n
i:iS9M n
539, 20838 r>^472 47739, 35175 920
313 576
P 24 931-17.627
2 24612 274
6 64s)1 ^196 126
7^8
2 069
P 27 1 54
P 173, 500P 24 600
P 148 900P 85. 400P 5Q 700
30.720 9
1 285954949CQO
1833433097fi3520
9 '311
2 ar;r
1 9Q
o'-r
0r increase in earmarked gold ( ) ., .
J Revisions for January-May 1948 for United States and total gold production a Revisions for 1948-
d quarterly data forion request.
lities for 1946-48 are
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
August 1950 SURVEY OF CURRENT BUSINESS S-19
1948 and descriptive notes are shown in the1949 Statistical Supplement to the Survey June 1 July j August
1949Septem-
ber OctoberNovem-
berDecem-
ber JanuaryFebru-
ary
19
March
50
April May 1 June
FINANCEContinuedSECURITIES ISSUED Continued
Securities and Exchange Commission:}: ContinuedNew corporate security issues:
Estimated net proceeds, total mil. of d o l _ _Proposed uses of proceeds:
New monev, total _ .. do, _Plant and equipment doWorking capital _ do
Retirement of debt and stock, totaL.doFunded debt doOther debt doPreferred stock do
Other purposes doProposed uses by major groups:
Manufacturing, total* doNew money doRetirement of debt arid stock do
Public utility, totalf doNew money doRetirement of debt and stock do
Railroad, total - doNew money _.. _ . _ d o _ _ _Retirement of debt and stock do
Communication, total* doNew money doRetirement of debt and stock do
Real estate and financial, total doNew money _ . _ _ doRetirement of debt and stock _ _ _do _..
State and municipal issues (Bond Buyer):Long-term thous. of dol _ .Short-term do
COMMODITY MARKETSVolume of trading in grain futures:
Corn mil of buWheat do
SECURITY MARKETSBrokers' Balances (N. Y. S. E. Members
Carrying Margin Accounts)Cash on hand and in banks mil of dolCustomers' debit balances (net) doCustomers' free credit balances _ do _Money borrowed do
BondsPrices:
Average price of all listed bonds (N. Y. S. E.),total . . _ dollars
T)omestic doForeign . _ _ . _ _ _ d o
Standard and Poor's Corporation:Industrial, utility, and railroad (A1+ issues):
Composite (17 bonds)* dol. per $100 bond.-Domestic municipal (15 bonds) do
U. S. Treasury bonds, taxable - - _ . do. _Sales:
Total, excluding U. S. Government bonds:All registered exchanges:
Market value thous. of dol__Face value. _ _ ._ _ . _ do
New York Stock Exchange:Market value. _ _ d o _ ._Face value do
New York Stock Exchange, exclusive of stoppedsales, face value, total thous. of dol__
U. S. Government _ _ - do_Other than U. S. Government, total do
Domestic doForeign. _ . _ do
Value, issues listed on N. Y. S. E.:Market value, total, all issuesd" mil. of dol. _
Domestic doForeign do
Face value, total, all issueso* __doDomestic - _ doForeign do
Yields:Domestic corporate (Moody's) percent- -
By ratings:\ aa do\a doA . - -_ _ doBaa _ - do_-
By groups:Industrial doPublic utility doRailroad _ do
Domestic municipal:Bond Btiver (20 cities) _ __ doStandard and Poor's Corp. (15 bonds) do
U. S. Treasurv bonds, taxable do. __
1.271
1.0S797111617554
1174
10
1667789
523464
534545
0386386
]916723
324, 825120, 040
169552
280681528493
100.98101.4571.40
120.2127.5
101. 72
49,00467, 17146, 16563, 43364, 257
'29* 64, 228
58, 133' 6, 036
131, 686130, 000
1,432130, 402128, 146
2,0063.002.712.783.043.472.782.933.292.202.282.38
52646142735551836
19
20217526
115111
451510
26243
391022
244, 17367, 450
199660
690530399
101.40101.8671.77
120.9127.9
103. 29
72, 61587,22469,94184, 07464, 021
3163,99058, 7795,166
132, 813131,124
1,436130, 975128, 724
2,0012.982.672.753.033.462.752.893.292.132.262.27
215164133314617291
4422199490
420137111
10660
218, 662196, 516
216420
699548404
101.82102. 2872.07
121.7129.1
103. 63
60, 73778, 54957, 10873, 91666, 223
5266, 17159, 3886,769
133,643 :131,956
1,432131, 254129, 017
1,9882.922.622.712.963.402.702.863.212.122.202.24
268163109546119222043
26206
91582816160422
58230
332, 957105, 586
153371
740580418
101. 80102. 2771.82
122.1128.6
103. 86
47, 46859, 56044, 46955, 72155, 413
6155, 35247, 1698,166
132, 210130, 535
1,422129,874127, 644
1,9812.902.602.692.953.372.682.843.192.162.222.22
407260214469858373
49834119
193102674141
01311
0) 1165
230, 82246, 514
128244
783586416
101.81102. 2772.48
121.9128.8
103. 90
51, 48068, 95947, 93864, 70663, 934
1263, 92256, 4947,412
132,221130, 509
1, 458129,870127, 608
2,012
2.902.612.702.943.362.682.833.202.132.212.22
327
2701591114117240
1636248
133109
151010o
16142
9290
0265, 519119,155
237294
813596445
102. 00102. 4572.92
122.2129.6
104. 22
64, 64684, 46760, 15779, 06474, 692
074, 69267, 0657,598
132, 445130, 726
1,463129, 854127, 597
2,0072.892.602.682.933.352.672.813.202.112.172.20
56533192310815111137
283634910
2991361023127
444(i)
85706
255. 707126 144
198284
306881633523
102. 43102. 8973.70
122. 5130.3
104. 36
84,642111, 12080, 274
105, 90999, 080
2299, 05891,0637,938
128, 464126, 755
1, 452125,410123, 190
1,9702.862.582 672.893.312 652.793.14
2.082.132.19
605453405
481043953124831273
20814830932766
205202
2206
0)248, 176178, 972
154237
901669493
102. 11102. 5674.46
122.7131.3
104. 16
107, 958144, 088103, 400138, 310119, 727
25119,702108, 32311, 280
128, 021126, 290
1,475125, 373123, 142
1,9812.832 572 652 853.242 632 793.072.052.082.20
255190130604630133
18634714
116843213130(0(1)0
2311
0)568, 839167, 048
103230
953669522
101.95102. 3874.80
122.7131.7
103. 62
67, 51284, 93963, 44378, 76068, 487
7268, 41559, 2159,161
127, 777126, 054
1,469125, 332123,119
1, 9632.832.582 652.863.242 632 783.082.022.062.24
538371242129150138111
17
493811
20613067
107852218180
1327550
361. 726100, 279
140364
1,018666579
101. 78102. 2075.48
122.7131.5
103. 24
88, 494116,47184, 757
111,30598, 704
198. 70387, 24611, 420
125,846124, 116
1,476123, 645121,440
1,9552.842.582 662.863.24
2 642 783.082 012.072.27
' 480' 344r 295
T 49
' 120r 36' 76
14r 9
'34'24
r 234
r 189'44'31' 27
423221
'86' 22
61
184,192114,088
142342
1,084678619
101. 53101. 9475.81
122.5131. 2
102. 87
77, 91697, 11475, 16193, 37885, 117
2485, 09376, 4538,616
125, 497123. 766
1,477123,610121,411
1,9492.842.602 662.863.232 642 793.082 032.082.30
'658' 306r 212'94
'341' 164' 137
4011
' 185' 80
' 103'312' 111
199' 69'39
30' 13' 13
0'31
' 1
' 355. 150' 119, 129
190387
1,175657750
101.43101.8475.89
122.1131.5
102.73
84, 94196, 72082, 03692, 92682, 347
1482,33375, 0387,261
125, 353123, 633
1,466123, 581121,400
1 9312.862 612 692 883.252 652 813 121 992.072.31
1, 055625451174381311
6549
16910952
.560370175741540643
601279235
351, 96577, 615
154370
3141,256
673827
100. 94101. 3773.92
122. 0131. 0
102. 42
100, 444113, 114
97, 466109, 088105, 474
10105, 46497, 1328,262
124, 633122, 957
1,421123, 471121, 298
1, 9232.872 622 692 903.28
2 662 813 152 002.092. 33
* Revised. l Less than $500,000.^Revisions for 1948-April 1949 are available upon request. *New series. For S. E. C. data, see corresponding note on p. S-18. Bond prices are averages of weekly data for high-grade
corporate issues; monthly data beginning 1900 are available upon request. fRevised series. See corresponding note on p.. S-18.Sales figures include bonds of the International Bank for Reconstruction and Development not shown separately; these bonds are included also in computing average price of all listed
bonds. cTTotal includes bonds of the International Bank for Reconstruction and Development not shown separately.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-20 SURVEY OF CURRENT BUSINESS August 1950
Unless otherwise stated, statistics through1948 and descriptive notes are shown in the1949 Statistical Supplement to the Survey
1949
June July August Septem-ber OctoberNovem-
berDecem-
ber
1950
January Febru-ary March April May June
FINANCEContinuedSECURITY MARKETS Continued
StocksCash dividend payments publicly reported:
Total dividend payments mil. of dol _Finance _ _ doManufacturing doMining doPublic utilities:
C ommun ications doHeat light, and power do
Railroad doTrade doMiscellaneous do
Dividend rates, prices, yields, and earnings, 200common stocks (Moody's) :
Dividends per share, annual rate (200 stocks)dollars,.
Industrial (125 stocks) doPublic utility (24 stocks) t doRailroad (25 stocks) ._ - - _ _ d oBank (15 stocks) doInsurance (10 stocks) do
Price per share, end of month (200 stocks)__doIndustrial (125 stocks) doPublic utility (24 stocks) f doRailroad (25 stocks) _ _ . do
