MONTHLY SUPPLEMENT TO COMMERCE REPORTS

UNITED STATES DEPAR1"MENT OF COMMERCE WASHINGTON

SURVEY OF CURRENT BUSINESS

MARCH, 1924 No. 31

COMPILED BY BUREAU OF THE CENSUS BUREAU OF FOREIGN AND DOMESTIC C0~1MERCE BUREAU OF STANDARDS

In addition. to f:.gu.res gi'Ven from Goven-

Su:>scription price of the SuRVEY OF CuRRENT BusiNESS is $1 a year; single copies, 10 cents. Foreign subscrip.ions, Sl.SO; single copies, including postage, 20 cents. Subscription price of CoMMERCE REPORTS is $3 a ye

The Sm:v;:;y- •w Cnn:)·::--;T Bus1.:-a:ss i ...; dPsignetl to figure.; for the pm-wat· yen:-s •tre not aY;tilabit~, :wd in present each month n pieLure of the busine::;s situation suel1 cases the ye,l.r 1 iJ ll) has usually lJOen taken as by setting forth the principal facts regarding the vari­ the base. For some industrie::; 1919 can not be .nus lines of tradc~nnd industry. At quarterly intervals reganh•d a..-> a proper ba-.e, due to extraordinary con­ Jetailed tables are published giving, for f•;. In all cases the vening months tlw more important compari,;ons only base period is dearly indicated. are given in tlw table entitled "Trend of business The index num.hers are computed by allowing the movements,. I p. :;o). In quarterly numbNs {sPe issue monthly a veragn fot' the base yc:lr or period to equal for Februnr.v, 1H24, No. :30) blank lines covering the 100. If the lltOYemcnt for a eurrent month is gTI'ater next thrN• months have been left at the bottom of than the base, the index number will be greater than each detailed table ·,d1ich will enable those who care 100 and vice versa. The difference hetween 100 and to do so to ent!•r Ilf:YW figun•s as soon ns tiwy nppear. the index rmmber will give at once tlw per cen; increase , or decrease compared with the base period. Thus nn ADVANCE SEEETS. index number of 115 means nu increase of L') per cent Healizin~ that cmT<'nt statistics are highly perish- 1 over the La~'e period, ·while an index numl•er of 80 uble and that to be of usc they must rca.eh the business · means a decrease of 20 per eent from the babe. man at the earliest possible moment, the department Index numbers may also he used to eale 1late the lu:-s itrranged I o dic;tribu tc ad nH1cc leaflets three times 11pproximu.te percentage increase or decre:.k;e in a move­ each month to those subscribers who reque:st. them. mt'nt from one period to the next. Thus if an index The leaHeLs an' usually mailed on Saturdays_. the first number at one month is 120 and for a later month it being issued abont the Uith of the month, gi·ving such is 144 then' has been an increase of 20 per ceat. information us has been received up to that. time. .Ftu·tlwr set.;, of sheets are mailed in the two follo·wing BUSINESS INDICATORS . >vecks, each ;r.i,-ing those figures received during the The diagm:ns on pa~e 2 have been prepa;:-ed to eurront wcel·;. 'l'he information contained in ti1ese fiwilitate cnmpnrisons bntween a fe1v of the more leal!ots is nlso published in "Comme:rec Repbrts," impo!'tant business moYenwnt.s. Tho lirws nrc plotted issued weekly hy tbe Bureau of Foreign and Domestic on what are known as ratio chart:~ \lo~~ari t.lnLic seale). Commerce. The eomplete bulletin is dist.ributed us These charts show the pereenta.g-e incn•u::;e nnd aHow qaiekly :v it C<"tll be complet:'d and printed. direct comparisons hetwcwn Llw slope of one curve and that of u.ny other cun·e rcgllrcHPss of what prrL of the BASIC DATA. di:1gm:n it i" located in; that is, a 10 per cent increase The figure·' n~port.cd in tlle accompanying tables arc in an item is given the same vertien.! n onmwnt n~rx large1y tbose al1·eady in existence. Tlw chief whether its curve is n:)al' the boLtor:1 or rten'· the top -(unction of t.he department is to bring together these of the chart;. data whid1, if available at alL are seatf.ercll in lJan­ The difrerence between this ~vhl the onEnl!'.Y for~n drds of dii!en~nt publications. A portion of these of a ch,trt can be ntado clc:tr b_v an example. If a data ar-e ;·uUected by Govcmtncllt depart mcnb, other certniu item has an in(icx munb:w of 'Hi() in one month i:igur('S are c-mnpilod by t.eehnieal journals, and :;till tlnd it inemases 10 per eent. its iildex numlh r '.Viti he others ar1' rep,n·Led !Jy trade associations. 4'10, and on an ordinary ehu.r't t.he next mmd1 would be plotted 40 scale point:::; hi~_;fwr t.h~tn tlw p·ot'(•ding IND:ZX NUI\iBERS. month. .Another mon;:nC'nt 'Yit.h cl.a ind:'.'~ :uunbcr To hcililate cnwpn.rison between different· items and of, say 50, also incrC\a,-;t'S 10 pN· eenl;, :n:tking i 1s index ron 'n 30 days after the close of the mont-h, a complete picture ot that month's operations, including index numbers, cumulatil·e iutals, text, and charts, can not be presented in printed form under 45 da!Jtl after its clo.~e, but the ad!lance leaflets dc,~crilied above gh•e considerable information as early as 15 days after its close and present almost every tccek the latest data

No. 31

CONTENTS Page. ·Summary for January ______. 1 Trend of business movements-Continued. Page. Business indicators (diagrams and tables) ______. 2 Food:;tuff~-- _------··· 3!) Comparison of wholesale prices (diagram and table)______4 , Toba<·<·o ______41 Production of specified commodities in 1923 (diagram)--_ 6 i Transportation ______. -- __ -- .. - .. ------41 Graphic summary of 1923 (diagrams)______7 Public utilities ______------______---_ 42 Business conditions in January ______-. 8 Employment ______--- _------43 Cotton consumption in northern and southern mills Distribution movement- ______.. ___ - .. -_ .. ----- .. ----- 43 (diagram) ______-- 10 Public finance ______~------44 Debits to individual accounts (diagrams and tables) _ _ _ __ 19 ! Banking and finance ___ ------44 Comparison of wholesale prices and national bank failures_ 23 Foreign exchange and trade ______--- .. ----- .. ------46 Februarydata ______24 Trade and industry of foreign eountries ____ _ 47 Indexes of business (production, prices, sales,' etc.)_ 26 Detailed tables: Trend of business movements: Earnings and hours of labor______-. 48 Textiles______30 Gasoline ______-_------49 Metals______32 Crude petroleum _____ -- ______-- -- .. ------50 Fuel and power ______. 33 Other petroleum products __ ------52 Rubber and automobiles ______------___ ---- 34 Lard_------.. ------54 Hides and leather ______.. ______.. 35 Illuminating glassware ______-- ____ --- .. ----- 55 Paper and printing______35 Newsprint in hands of publishers.----- __ ------55 Buttons______36 Miscellaneous ______-- - - _------56 Glass and optical goods ______.. _-_ -- - - - _-- - - - 36 World production of principal crops ______------"- 57 Building and construction ______---_-----. 36 Sources of data ______-_------.. - - -- 59 Chemicals, naval stores, and oils ______---- ___ -_-.. 38

SUMMARY FOR JANUARY. (See note at bottom of opposite Cover page,) Productive activity in January indicated for most movement, increased in January, and hased on 191!) lines of industry improvement from the conditions as 100, stood at 79 compared with 7I in December prevailing in December. Such of the important and 77 a year ago. Check transactions showed rela­ rndustries that recorded larger output in January tively no change in January while interest rates w_ere included pig iron, steel, copper, zinc, bituminous coal, lower. . and lumber, while the output of petroleum and ship­ Wholesale prices at 151 for .January showed 1i;i ments of locomotives declined from the previous chnnge from the previous month, while the cost-of­ month. New awards for construction, although lower living index at 65 per cent above pre-'wnr likewise in anticipated expenditure than the lettings in Decem­ remained stationary. Employment in 1,428 repre­ ber, registered an increase in floor space over the previ­ sentative factories increased 1 per cent, while the . ous month. Mill consumption of wool, cotton, silk, retail food index made a slight decline for the month. ~nd tin likewise registered increased industrial activity Business failures, in point of liabilities, declined in m January. Unfilled steel orders continued to ac­ January, while the number of firms which failed in­ cumulate while the index of unfilled orders for basic creased. Prices of both industrial and railroad stocks commodities, based on 1920 as 100, increased to 63 averaged higher in January. for JH;nuary 31, as compared with 58 for December 31 The weekly car loadings for January averaged and 85 a year ago. 858,863 cars, as against 847,363 a year ngo, while the Retail sales of 10-cent chains and mail-order houses net available car surplus for the last week of ,January declined from the high figures rccor:ded in the holiday totaled 164,438 cars. The number of locomotives trade of the previous month, but were well above the and freight cars in Ilee(l of heavy repairs increased in sales of a year ago. Wholesale trade, in a seasonal ,January but wns considerably l1elow a year ago. 88005-24-1 BUSINESS INDICATORS.

II'>IJ muuthl)· ""'r·•~·· ·liM>. "•·r •·wlanntlun nn in•illc front ro,·cr. E•et•l•t for "net freight ton-miles" hltest month plotted is January, 1924.)

I'IG·IUON l'ROl>U<.'TJUN. BITUMINOUS COAL PRODUCTION. COTTON CONSUMPTION.

1923 1920 1821 1922 1923 .,. lt:IO . lUI 1922 .., ,--'-1920 1821 1922 JOO .. ___ -~----- 200

~ Z! _,. ~Ar"'i' .. A~~ WIOO ~ ~~~~ a> -~' :a eo ::> z 00 v ....)( ·lv 040 ~

0

0 0

NL'T fREIGHT TUN•MILJ::S. };XPORTS (VALUES). BANK CLEARINGS OUTSIDE NEW YORK CITY (VALUES.) lt:IO lUI 1122 1920 1921 1922 1923 1920 1921 1922 1923 ... ,...... i---r-· 400 ~~ ·r-----.. [··-· ---~----- aoo , . I ~ _,_,., - 1\ ~ ~ •r ·- - --..l. ------"---- ... . I ~ ~ - Illc rP ::! WIOO WIOO ., a> ::110 ::180 ::> ::> Zoo zeo ~ )( o .. "'040 ! !

·zo

• I

DEFAULTED IJABIL1Tiel (VALUES)• WHOLESALE PRICES. PRICE OF 25 INDUSTRIAL 'STOCKS.

1920 1921 1922 1923 1920 1921 1922 1923

300 ~ 200 ...... 200 .A ' r--... ~ - "'a: '-~ ., 100 - :I"' ::> .. z .. )( w 0 ! ..

.. 10

10 • 3 BUSINESS INDICATORS.

Th.e followiiW table gives comparati~e index numbers for a selected list of important busiue~s movements. It is hclicvcd that this table Will prove useful, because It separates out from the large mass of material n compnrativeh· small number of items which are often regarded as indicative of business in general. · The table has been divided into tw_? Pl_lrts, the firs~ containing those items for which index numbers cnn be calculatecl, 111;ing ~913 as a base.. The second part c~mtams Items for wh1ch comparable data back to 1913 arc not available. This latter group of mdex numbers Is calculated by lettmg the 1919 monthly average equal 100. Care should therefore be exercised in eompariug the absolute value of the two sets of data. In either group, however, the upward or downward trend of the index number.-, compz~red to previous months, does reflect the present tendency in each item and will give a basis for business judgment.

l!OXTIII.Y .\YER.\0.:. 1922

____C_O_l-!M_O_D_I_TY_. ______-19~;-r_ l9~l-t922__l_l_~l2:1 -~~:~ Jan. F~h~_L~·:r~ : .. ~~':: -~~~}::J.Jul)~: 1.\u~--~~~~-l'~j ~l<'l. !~m·.lll•~- Jan.

liii!J monthly an•rnv:e~ 100.

Production: Pig Iron • .••••.•...... ! 110 54 87 130 121 120 l!7 131\ 13!1 151 H3 IH 134 I2'2 1:1:1 113 114 118 Sled ingots •••••. ------1 13.1 64 114 143 131 151 137 160 156 166 149 139 146 131 I-ll 123 113 143 Copper •••.• ~------1 99 39 81 1 121 103 110 101 119 ll6 123 123 124 129 122 130 127 130 Cement (shipments) ...... : 108 107 131 153 66 76 82 140 175 193 180 i IR6 203 185 103 !39 87 70 Anthracite coal..•...••....•. [ 97 99 58 10-l lll l14 102 117 106 l12 114 109 IHI 38 114 102 lOS 101 Bituminous coal. •.. ______; 116 . 87 85 114 117 126 106 117 107 116 114 113 123 116 123 lOS 101 1:17 Cruue petroleum ••...... i 178 189 224 292 245 251 232 273 28.1 299 301 315 318 312 323 313 284 :172 Cotton (consumption) .....• ! 105 97 109 117 114 131 122 I 134 124 133 116 90 106 10-l 116 114 II'J 124 109 121 125 124 125 107 IIi 119 129 122 119 133 129 1M 135 120 1:!:1 2().1 ;~~~-~~::::::::::::::::::::: :i :;: 116 129 159 lg~ IS~ 1~ 177 1.?3 1i'>3 156 146 ' 134 llft 148 1S2 203

Unfilled orders: ·,1 U.S. Steel Corporation..... 170 00 96 102 114 l17 123 }2[) 1:l:l 118 lOS 100 92 85 79 74 7.~ 81 Stocks: i Crude petroleum...... : I27 152 234 285 252 !!SG 256 25U 264 271 281 200 296 302 310 318 320 31\1 149 167 149 Cotton (total) • ...... ! Il\ii 19~ I53 12,) 194 1ii 156 143 125 10-l R3 00 04 9.1 169 !'rices: Wholesale index, all com- ' modltles (Dept. Labor) •. _; 226 147 149 154 156 156 157 159 159 156 153 151 ; 150 154 1.13 152 !51 151 Jr.) Retail food (Dept. Lnbor) ..• ; 203 1.'\3 142 HG 147 144 142 142 143 143 144 147 146 149 l.'iO 150 uu Retail coal, bitum.-U. S. : 185 183 180 average (Dept. Labor) ... 207 I IIi 188 190 207 206 205 203 192 186 185 185 183 181 li!G ·i 137 HO }'arm crops (Dept Agr) •. . 238 109 113 130 123 120 130 134 139 140 139 136 136 138 139 137 102 109 10-1 97 IH 97 Farm li'l"estock (Dept. A gr.) •. 168 107 Ill 1o.3 104 1 106 107 106 107 105 100 102 Business finances: 2'21 227 226 Defaulted liabilities...... 108 2'JO 227 198 256 217 170 213 227 181 126 157 151 126 349 175 181 lb7 1113 Prioe 25 industrial stocks • .. : 184 130 169 170 187 100 198 199 19S 186 182 176 177 177 69 70 70 73 Prioe 25 railroad stocks • .•.• : 67 64 75 72 74 74 79 78 76 ! 73 73 70 68 69 Banking: , 225 229 247 262 Clearings, N.Y. City ______! 257 205 230 226 240 251 213 251 228 244 237 2ll 187 191 28.~ 263 277 281 Clearings, outside N.Y. City, 275 212 231 265 2.18 289 230 271 261 271 ! 267 256 242 242 89 89 88 ll6 84 Commercial paper Int. rate .• ! 127 113 76 86 80 80 80 87 89 89 86 86 88 Distribution: 1 249 214 192 184 170 200 195 193 1(18 Imports (value) .. 2114 140 177 211 197 220 203 26f• 244 ------1 184 194 193 206 191 Exports (value) ..•••••••.•.• , 331 181 15-1. 201 100 162 148 165 157 153 155 146 150 260 I 221 190 198 231 33.~ 306 318 271 Sales, mail-order houses ....• J 2tl4 188 20-l 25U 287 24:J 232 2\lO 272 TransJIOrtatlon: I 144 151 140 122 Fr~ight, net ton-miles .. _ i 137 105 114 139 133 ' 138 119 143 140 i 145 139 141 148 I __1 ----· ~~------~- ___: ___ I------~----· 1011J monthly a•·erage-100.

Productlo\1: I -- 138 131 137 132 107 113 8.) 114 126 96 109 99 131 130 135 136 85 8-1 116 Ill 102 107 ~~~~:~~t;~;~-(n~~~--~~;~~):jl~ 69 102 106 83 83 89 139 138 129 99 43 27 u 19 20 39 ...... _ ------I 00 42 211 32 49 48 42 38 33 Sto~~:: 112 9.1 H 67 113 Pork ...... ! 9S 83 70 91 67 81 92 101 Ill lOS Business llnances: i 104 104 103 10-l 103 102 lo:J 100 Bond prices index (40issu~s).! su 87 107 HH 107 107 106 10-l lo:l Banking: I Debits to individual ac- Ill 107 116 Ill 10-l w· 9S 113 106 lift counts, outside N.Y. City. 114 ! 91 97 107 112 112 96 112 ·'I 39 42 45 46 41 H 27 }'ed. Res., bills discounted •• 132 Ill 28 39 33 31 31. 36 33 38 40 145 146 ; 146 146 14ft 145 146 146 143 149 Fed. Res., total ~eserves .•••• 07 122 144 ' 146 144 147 146 145 I 153 ' 152 153 156 154 152 1s2 I 152 146 162 Fed. Res. ratio •.. ------87 12'.2 1.54 152 144 153 152 150 -~ ______L _ __j_____:_ ___,____!___j_____L_~_!_____;__ __~'-----:-~----- ·----· ··- 1 •Monthly statistics on the movements since 1anuary, 1913, or as far back as ayailable, are given on pages 47--19 or the December, 1!!22, Suryey (!llo. 6). 1 Monthly prices are for the 15th of the month indicated. . 1 ::-; th c· r . · d I\I' h' I·1 r1 I 2 Based on the total computed production reported by 5 associntions. Incluues southern pme, Douglas tlr, we.;tern,P ne, • or .• uo m,\ pme{ an IC ~gan ~ and sort woods. 'l'he total production or these associat.ions in l919 was equal to 11,190,000,0011 hoard feet, comparNI wllh a total lumtll'r ]lrorlurt on for the "'untr~ of 34,552,000,000 board feet reportPrl by the census. COMPAitliiON OF PRESENT WHOLESALE PRICES WITH PEAK AND PltE~W AR.

(Relative prices 1913=100.)

INDEX NUMBERS 500 600 700 0 100 200 300 400 FARM PRODUCTS. AVERAGE PRICE TO PReOUCER WHEAT CORN POTATOES COTTON COTTON SEED CATTLE. BEEF HOG$ LAMBS FARM PRODUCTS. MARKET PRICE WHEAT. SPRING WHEAT, WINTER CORN. N0.2 OATS BARLEY RYE.N0.2 TOBACCO. BURLEY COTTON WOOL'" GREASE IIIOSTONl CATTLE. STEERS HOGS. HEAVY SHEEP. EWES SHEEP, LAMBS FOOOe FLOUR. SPRING FLOUR. WINTER SUGAR, RAW SUGAR, GRANULATED COTTONSEED OIL BEEF. CARCASS BEEF,STEER ROUNDS HAMS, SMOKED BOOTS AND SHOES 1ST. LOUIS> FUELS COAL. BITUMINOUS COAL. ANTHRACITE COKE PETROLEUM METALS PIG IRON, FOUNDRY PIG IRON, IIASIC STEEL IIILLI!TS. III!SSEMEI'I COPPER LI!AO ~PEAK PRICE TIN -PRICE IN JANUARY ZINC

LUMIII!I't, DOUOLAI 1"11'1 LUMIIt:R,I'INI.SOUTHEI'tN IIRICK, COMMON !NEW YOI'IK> ~~;;~~~B~U~IL~D~I~N~G~M~A!T~ER~~IA~L~S:l~~~~1rz.'" CEMENT _ STEEL IIEAMS

RUIIIIIR,CI'tUDE MISCELLANEOUs 8ULPHUIIIC A.l. // 'j 5 WHOLESALE PRICE COMPARISONS-MAXIMUM PRICE COMPARED TO PRICE IN RECENT MONTHS. NOTE.-Prices to the producer on farm products and market price or wool a r m u s D t t · prices are from U. S. Department of Labor, Burea!' of Labor Statistics. As far as ~~s~lbic n1i quot~r; men of .A.gtrlcupure, Bureau of .A.gricuUural Economics • . All other page •· ns rcprcsen pnces 1o the producer or at the mill. See dmgram on

I1 II Novem- Decem-~' January il bcr, b ~ra'. 1924. ' l'er cent Date ami maximum 11 1923. 1 9,. Increase relative price. : ----..l.-----L-----1 (+) or de- COMMODITIES. ', crease(-) I ,i ltelatlve prlee. In Januar)' 1 ~------·-- I f~~:b~:.- l {1tHa ~verage-100.)

-- --- 1920-,-326 -1!-- Far;b~:~~-~~~~=~~~~~~-~~~~~~-~~-~~~duce~s: ~-----~ -=- 119 122 + 2.6 1920 I 300 ' 118 117 11\) + 1.7 192o 1 1oa 1ss 137 145 + 5.8 1920 1 312 258 268 271 + 1.1 1920 321 211 209 20! 2.4 1919 183 89 89 Ill + 2.2 :;:;\:; I 1919 256 89 85 88 + 3.5 ~~~~~~~~\~~;~~\~~~;~_;;~;\!!\:~:~:::;::\~~:~::~::::~:;:\\ ::::~; ~ 1920 239 166 166 1G7 + 0.6 Farm products-1\larket prlee: ' Wheat, No.1, northern, spring () .. ------·-···--·-··-····--·------·-··--1 :\fay, 1920 354 120 122 124 + 1.6 Wheat, No.2, red, winter (Chicago) ..••• ·····-·······-·-·······-····-·····--····---I J.\lay, 1920 302 108 110 112 + 1.8 Corn, contract grades, No.2, cash (Chicago) •.. _.. -······--········-············--··! Sept., 1917 331 135 117 121 + 3.4 Oats, contract grades, cash (Chicago) ...... June, 1920 296 118 120 126 + 5.0 Barley, fair to good, malting (Chicago) ...... i Mnr., 1918 325 105 110 113 + 2.7 Rye, No.2, cash (Chicago) •••..••••••...•...... •....•.•....•••.••...•.•...•...... Mar., 1918 451 111 110 114 + 3.6 Tobacco, burley, good leaf, dark red (Louisville)._ ...•...•...••...... •...... 1 :\Iar., 1919 352 212 212 212 0.0 Cotton, middling upland (New York) .••.••...... •.••..•••.•...... •...... •.. ! Apr., 1920 331 274 280 271 3, 2 Wool, i blood combing, O~io and Pennsyl~ania fleeces (Boston) ..• _.. ·······-······l Apr,, 1918 308 192 204 208 + 2.0 Cattle, ste~rs, good to chotce, corn fed (Chtcago) ..•••••..•.•••.•.•...•..•....•...... Mar., 1919 218 116 115 lll 3. 5 Hogs, heavy (Chicago) •••.•..••••.••••.•••..•.•...... ••..•....•...... •.•....•....• July, 1919 266 85 M 86 + 2.4 Sheep, ewes (Chicago) .•••••. ···-···-··········-·······--·-············-············ Apr., 1918 319 121 137 153 + 11.7 Sheep, iambs (Chicago) ••••.•.•••.•.••..••.•....••...... •....••...•...•.••...... •.. Feb,, 1920 2U3 158 160 171 + 6.9 Food: Flour, standard patents (Minneapolis) ..• ·-··-··-················--··-······-----·-·1 May, 1920 328 132 133 135 + 1.6 Flour, winter straights (Kansas City) •••....•...•...... ---············-··-···-···-··! May, 1917 363 136 133 137 + 3.0 Sugnr, 96° centrifugal (New York)...... May, 1920 598 208 209 192 8.1 Sugar, granulated, in barrels (New York) ...... ! ·May, 1920 526 2()3 201 196 5.3 Cottonseed oil, prime summer yellow (New York) .•...... •...... ! Julr, 1919 374 162 151 152 + 0.7 Beet, fresh carcass good native steers (Chicago) ...... '...... •.. ; Sept., 1020 201 135 132 131 0.8 Beef,freshsteerroundsNo. 2 (Chicago) ••.•...... ••...... -- ...... : July, 1920 211 j 104 103 106 + 2.9 Pork, smoked hams (Chicago) •••••....•.•..•...... •.•...•...•.•.•.•....••...... ••• ! July, 1919 231 126 123 116 5.7 ~~~ . ! 2.2 Cotton yarns, carded, white, northern, mule spun, 22-1 cones .(Boston) ...•.. -....•.. j May, 1920 348 218 228 223 6.5 Cotton, print cloth, 27lnches, 64 x 60-7.60 yards to pound (Boston) •.•••.••...... ! Apr,, 1920 478 229 236 223 217 220 + 1.4 Cotton, sheeting, brown, 4/4 Ware Shoals L. L. (New York) .•••..••••••••...... l May, 1920 427 208 Worsted yarns, 2/32's crossbred stock, white, in skein (Boston) •••••••..••.••...... Jan., 1920 289 212 212 219 + 3.3 184 184 0.0 Women's dress goods, storm serge, all-wool, double warp, 50 inches (New York) .. Oct,, 1918 292 184 ···1 0.0 Sultings, wool, dyed blue, 5&-56 inches, 16-ounce Middlesex (New York) ••• _....•.. July, 1920 291 239 239 239 5.2 Silk, raw Japanese,-:Kansal No.1 (New York) •••••.••••...•••••.••..•...•...... • ! Jan., 1920 466 215 213 202 1 78 Bides, green salted, packer's, heavy native steers (Chicago) ••.•.••..••...... • \ Aug., 1919 283 77 74 + 5.4 83 3.8 Hides, ca\Csklns, No, 1, country, 8 to 15 pounds (Chicago).··-··--··-···-··-········· Aug., 1919 490 70 80 + 163 163 0.0 Leather, chrome calf, dull or bright" B" grades (Boston) ..••...... • -...... - --1 Nov,, 1919 473 163 Leather, sole, oak, scoured backs, heavy (Boston) ...... Aug, 1919 230 101 95 98 + 3.2 ! 0.0 Boots and shoes, men's black calf, blucher (Massachusetts) ..•...... •••.••....•.••. 1\Iar.,. 1920 308 201 201 201 1 163 153 163 0.0 Boots and shoes, men's dress welt tan calf (St. J,ouis). - • - •..•• -.. • ·. ·-· · ·-· ·- ·-· · · · ·1 Aug., 1919 292 Fuels: 1M 166 7.8 Coal, bituminous, Pittsburgh, mine mn-Kanawha (Cincinnati) .•.•...... , Sept,, 1922 33~ 177 + 216 216 0.0 Coal, anthracite, chestnut (New York tidewater) •••••..•••...•...••...... Oct., 1921 201 :!16 1M 166 + 0.6 Uoke, Connellsville (range of prompt and future) furnnc&-at oYens ...... •... -..... AUj;., 1920 637 1M ·I lOll 133 22.0 Petroleum, crude, Kansas-Oklahoma-at wells .•...•••.•••....•..••.....•• -... -.-... , Mar., 1920 375 112 + Metals: 148 161 2.0 Pig Iron, foundry No.2, northern (Pittsburgh) •....•.•..•.••.•••.••...... •...... • I July, 1917 346 HS + 143 144 0.7 Pig iron, basic, valley furnace •.•..•.••...•.••...•.•••.....••••••.....•.•.••...... •.• Sept,, 1920 330 ' H2 + 155 155 0.0 Steel billets, Bessemer (Pittsburgh) ••...•..••.•.•..•..••..••..•.•.••..•...•...... •• ,; July, 1917 388 : 1M 82 80 2.4 Copper ingots, electrolytic, early delivery (New York) •.•.••.••••...... •...... •.• Mar., 1917 230 i 81 157 171 188 + 8.7 Lead, pig, desilvered, for early delivery (New York) ... ·····························) June, 1017 261 105 108 2.9 Tin, pig, for early dell very (New York) •••••.•.•.•.•.•.•...•...... •.•...... •...•.• May, 1911 22{ ' ~~ + 113 116 Zinc, slab, western, early delivery (New York) .•••.••••..•.•.••••••••••••••••....•.. Junt, 1915 115 + 2.7 Bulldlug materials and miscellaneous: 1U 183 192 Lumber, pine, southern, yellow ftoorlng,1 x 4, ''B" and better (Battiesbur~ district). Feb., lO:lO +4.9 201 IQO 212 11.6 Lumber, Douglas tlr, No.1, common, s l s, 1 x 8 x 10 (State of Washin~~:ton).- ••..••. Jan., 1020 + ::174 2QO 305 45.9 Brick, common red, domestic building (New york) .•..••••••..••.•••••••••..•.•.••. , Feb., 1020 + 1'14 177 Brick, common building, salmon, run of kiln (Chicago) .•.•••••.•..••.••... -•...... ! Oct., 102

PltODUC'flON OF SPECIFIED COl\IMODITlES IN I !J:!:t

(Percentage in crease or decre.ase from 1920.)

"DECREASE INCREASE PER CENT PER CENT I 150 100 60 0 60 100 FOODSTUFFS CORN SUGAR SILK-( CONSUMPTION) - FINE COTTON GOODS KNIT UNDERWEAR METALS ettt IRON ORE PIG IRON STEEL INGOTS I STEEL SHEETS STEEL FURNITURE MERCHANT PIG IRON TIN COPPER ZINC STRUCTURAL STEEL I SALES l STEEL CASTINGS (SALES) FUEL AND POWER ANTHRACITE COAL BITUMINOUS COAL BEEHIVE COKE BY·PRODUCT COKE CRUDE PETROLEUM GASOLINE KEROSENE LUBRICANTS ELECTRIC ENERGY BUILDING AND MATERIALS CONTRACTS LET, FLOOR SPACE CONTRACTS LET, VALUE

SOUTHER~! PINE DOUGLAS FIR CALIFORNIA REDWOOD CALIFORNIA WHITE PINE SOFTWOODS MICHIGAN HARDWOODS WESTERN PINE NORTH CAROLINA PINE NORTHERN HEMLOCK NORTHERN HARDWOODS NORTHERN PINE LUMBER NORTHERN PINE LATH OAK FLOORING MAPLE FLOORING CLAY FIRE BRICK SILICA BRICK FACE BRICK CEMENT B.'\THS. ENAMEL LAVATORIES. ENAMEL SINKS. ENAMEL TOBACCO LARGE CIGARS SMALL CIGARtTTES MANI"D. TO!!ACCO AND SNUFF TRANSPORTATION lit 11+11 J I I II AUTOMOBILES. PASSENGEn AUTOMOBILES. TRUCI~G !.OCOMOTIVES I SHIPMENTS> SHIPS I COMPLETED> llLf~ 11= 7 GRAPHIC SUMMARY OF COMMERCE AND INDUSTRY: 1919-1923. The diagrams below supplementing the set of 36 similar drawings published in the February "Survey" (No. 30) complete the graphic presentation of the more important production and distribution movements for which comparable data covering the years 1919 to 1923 are available. (The diagrams are based on 1913 .as100 except in the case of 11•heat flour production, wlrlch is relatit·e to 1911.) ANTHRACITE COAL PRO­ STRUCTURAL STEEL SALES WHEAT FLOUR PRODUC· DUCTION. TOTAL COKE PRODUCTION. • (~omputed), TION, OH·r------~ "' ... ". .. ~------~ ...... ~·~------~ ... .,. • -~------~ '"' 200 ... !"' .. , ~"' . 2,.0C2.0COTONS ~ ..... ~ 200 • 11.48t,Citl) TON& ;- ~ l~D ~ ITS ~ If II,III.DOO TONS z z • 121 .ooo.ooa BBLS. ~ ISO X 100 ..)( '"' .. ~ 12& g 12! '"~ 12 &t---ICII4 TOTAL•IIe,QOO.ON;Il'l8~t- roo 100 '"' ,_ ,_t- I- II " " • - - .. .. "' .. 1- 1- 1- 1- - .. " - --- " "' 0 ..._ .__ '-- !- 1919 11?20 lg,zl 1922 1923 1919 IWO 1921 1922 1923 1918 rm rg,zr 11122 rg,z3 UAILROAD NET Ol'ERATING BEEF PRODUCTION (inspected NET FREIGHT TON·MILE INCOME (per cent on tPnta­ PRICES OF 25 RAILUOAil slaughter). OPERATION. tlve valuation). STOCKS...... m.------, 321,.------, .,. ""' ------! ., -~-~------~ I 11'1 ml------1 - 21>~------~----j ... tool------1 ... ·~~------1 .... • ~1-'~------j ... ~------! 467.000.000.000 TON8 •~- S.I10.000.000 POUNDS I =200 1------•.- ••- ••-i ~11 z • I • I ~ml------="'--1 .... : ~~~------~ •Q ... t .. • R IJ ~ .,51------r-1 - '"' ITO'! . ....,. oooro\JND ,.QI. ~:fA>j • f- f- 1- 1- • f- r- f- 1- .. 1- 1- 1- f- .. r- r- 1- f- .. f- 1- 1- 1- .. f- 1- f- 1- '- ...... L. L. 0 '- ..... '- L- • t8te rm rg,zr t822 rm rare tii'JO razr 1822 •~ 1919 1920 t9t9 rii'JO 11121 1922 rg,z3

PRODUCTION OF TOBACCO COMMERCIAL INTEREST TOTAL CORPORATE DIVI­ SALES OF STOCK (N. Y. AND TOBACCO PRODUCI'S. RATES. DEND PAYMENTS. Stock Euhange).

... m•.----~------, 32 • "' ... -·r------~ 300 ~231,000.=HAA:~-- m .,.J------~-----1 ' 211 I- f-- ...... •.. ~------1 ,.. ,1- ~ f-­ '- c .~ "' ·"' =~ 1- I- f- 111 1- f- - '-­ ~="" 17& . IMS.OOO.DOO s z z ~ 160 f- - f-- X 110 I • ~ 12& r- 1- - -' 121 • ~ ... 18t!!OTA~ &S.~IXIO SH~ES ... IDIJTOTAI.- .832.000..000 --- f- f- 1- f- • - 1- f- f- " .." .. - f- 1- f- .. 1- f- 1- f-- • - f-- 1- f- .. 1- f- f- !- " '- '-- '- 1919 - 1920 1921 111!22 1923

NEW LIFE INSURANCE BUSI­ PATENTS GRANTED-AGRI­ PATENTS GRANTED-INTER­ NESS (nlue). CULTURAL IMPLEMENTS. NAL COMBUSTION ENGINES. MAGAZINE ADVJmTISING. ... ,.,.------~------, ~r------, ~·~------· 300 -~------1 1---- •r------~ ->1------~ 271 1-- I--- f- ,.~------1 '"r------~ ,,J------1 210 f- 1- OOO~----.-~--~-A-O~AT=E~L~IN~E~01 ~ ~r------~ ~~------~ 1- .,,L-----~~==~==~~.r-1 .... f- 1- c- .,,J------1 I !"';r------~ no .a ... 1- • "'"'t------l ~ lfl 1- f- 1- z ~ "•t------:....,.,.-l l:i''" f- 1- 1- ~ ''"'t------~ ~ 128 f- f-- 1- f- ~ "•t------ri ~3 TO;!!--~ ""~ roor---~~~~~~~-T~O~T~AL~-~~=---~ '"' .. " 1- f- 1- 1- .. ".. .. t- f- 1- 1- ...... 1- 1- f- 1- 191VIII'JOL-t92/-rmL-t923 1919 11120 8 BUSINESS SUMMARY.

(Index nurnbers based on the IU19 monthly avcmge as !()()--except unfilled orders which are based on the 1920 a.vernge-enable comp3risous to be made of the relative con· dillon of tho several phases of business. The use of Index numbers is more fully explained on the i~idc front cover, and details of this summary are given in the tnblc entitled "Inllcxes of Business," beginning on p. 26.)

1~-1922. ---~19:~__ 1__ - ____ 1:1~:\ -~9-2~------1. _Deco~~ her.-·- Jnnuary. ll--l-\ct_o_oe_r.__ :.._·o_ve_m_b_er_. ___r_le_ce_rn_b_er_. -I >•m•::_ PlWDUCT!Ok: l\lnnufacturing (65 commodities) ____ _ 106 115 l 121 l Ill I 104 1 120 Raw materials, totaL ______128 116 157 141 129 108 l\Iinerals ______117 124 152 136 125 128 CropsAnimal ______products.. ___ -- ______-. _ 119 113 122 123 129 119 142 115 184 158 133 93 Forestry______-J 98 107 131 119 103 108 Electric power. ___ • ______142 147 152 149 153 160 Building construction (contracts i awarded) ______.. i 83 83 116 111 102 107

STOCKS OF COl>!MODI'l'IE:; ______----! I~ lU lH IU 1~ 132 UNFILLED OUDEUS (relative to 1920) ____ , ~ M M ~ ~ 63 SALES (based on value): ! Mail-oraer houses (4) ______Ten-cent ehains ______.. ____ _ 108 89 i 134 122 118 99 Wholesale trade ______. 279 115 1 182 111 331 126 Department stores ______72 78 98 84 71 79 189 101 I 148 142 2o3 lO!J PRICES (recomputed to 1919 ba~c): Wholesale, all commodities ______:,: Retail food ______76 76 74 74 73 73 79 81 81 81 so CosT OF LIVING (recomputed to 19Hl 77 II base)------92 92 95 96 1)6 96 FACTORY EMPLOYliiEN'f (recomputed to 1919 base) ______92 100 99 98 99 TRANSPORTATION: 951. i Net freight ton-mile operation. __ .. __ 110 110 A vernge weekly carloadings ______128 116 101 105 103 1------. 107 Net available car surplus (end of lOG if 134 122 Inonth) ______li -41 -28 :I 7 189 100 'I 92 " : l'Arlly estimated. BUSINESS CONDITIONS IN JANUARY. The following pages contain a review by principal at 93 compares with 115 a year ago. The output of industries of the more important statistics shown in manufactured goods, according to the revised ~ndex the table on "Trend of Business Movements" (p. 30). on a 1919 base, shows textiles at 117 compared With 95 Summaries of production, stocks, sales, and price in December and 129 a year ago; iron and steel at changes arc also given, based upon data in the tables 124· against 106 and 133; lumber at 124 against 115 on "Indexes of Business" (p. 26). and 125; paper and printing at 112 against 103 and PRODUCTION. 111; and tobacco at 111 against 88 and 107. T~e total index for January stood at 120 against 104 111 Mineral production for January based upon the December and 115 a year ago. 1919 monthly average as 100 stood at 128, as against. ! 125 in December and 124 a year ago. Increases in STOCKS. the output of minerals occurred in bituminous coal, copper, zinc, and silver, while declines were registered The trend of commodity stocks as seen from the in petroleum, ahthracite coal, and gold. revised stocks index published in the preceding. issu~ Marketings of animal products stood at 119 for Janu­ (No. 30) is shown by the following comparisons. ary, as compared with 129 for December and 113 a Raw foodstuffs at 148 against 147 at the end of De­ year ago. Increases O\'er a year ago occurred in hogs, cember and 175 a year ago; raw materials for further sheep, and milk, while decreases were registered in eggs manufacture at 134 against 149 and 123; manufac~ and poultry. Crop marketings show the following tured foodstuffs at 76 against 76 and 73; and othe~ comparisons with a year ago: Grains, 94 against 152; manufactured commodities at 156 against 159 a~~ Yegetables, 129 against 112; fruits 89 against 94; 122. The total index at 132 may be compared '\\'lt cotton and cottonseed 81 against 80. The total index 136 for December and 126 a year ago. 9 k:EJLATIVE PRODUCTION, STOCKS, AND UNFILLED ORDERS IN BASIC INDUSTRIES. (Monthly average 1920-tOO.)

SALES. and drugs;_:andJ~miscellaneous commodities advanced Manufacturers' sales, in general, increased over over the previous month, while farm products and December, greater sales activity being recorded in cloths and clothing declined. As regrouped by the ~he iron· and steel, building materials, and textile Federal Reserve Board, this index shows an increase mdustries. The index of unfilled orders on manufac­ in forest products and mineral products, while agri­ turers' books, based on the 1920 average as 100, stood cultural products and consumers' goods recorded at 63 as against 58 in December and 85 a year ago. declines. Dun's index increased while Bradstreet's Wholesale trade in all lines registered the customary. registered a ~light decline in January. seasonal increase, except shoes and hardware, which 'l'he Federal Reserve Board's index for international showed no change from December. Based on 1919 comparison at 1G3 showed no change from tho prices as 100, the combined index of wholesale trade for prevailing during the four preceding months, while January, based on value of sales, stood at 79 against British and French prices continued to advance, the 71 in December and 77 a year ago. · increase over September amounting in each instance Retail trade of 5-and-10-cent chains stood at 126 to 8 per cent. against 115 a year ago based on 1919 as 100, while Retail food prices, according to the index of the sales of four mail-order houses were computed at 99 Department of Labor, stood at 149 against 150 for for January as compared with 89 a year ago. De­ December and 144 a year ago. The cost-of-living partment store sales increased 8 per cent over January, index at 165 showed no change in Januttry and . be compared with 158 a year ago. PRICES. TEXTILES. Prices received by producers for their crops at 140, b~ed on 1913 average prices as 100, may be compared Receipts of wool at Boston increased in January, ';lth 137 for November and 126 a year ago, while the but were more than 33 per cent below a year ago. hvestock index at 97 may be compared with 94 for ·Imports of wool increased, but were 45 per cent below December and 106 a year ago. a year ago. Wool consumption by textile mills in­ The wholesale price index as compiled by the creased more than 18 per cent over December. Ma­ Department of Labor at 151 for January, based on chinery activity in the woolen industry also increased 1913 as 100, showed no change from the previous in January. Prices ot raw wool and worsted yarns month and may be compared with 156 for a year ago. advanced in January while dress goods and suitings Wholesale prices of fuels, building materials, chemicals remained unchanged. 88005--2~-2 COTTON CONSUMPTION IN NORTHERN AND SOUTHERN MILLS.

• ~~"'"

\ \ I I MM~ M .s a N 1913 1916 1921 1922 1923 11

Cotton consumption totaled 576,644 bales in Janu­ sale price of raw silk at New York nvcrugc;l lower in ary, compared with 461,500 in the previous month January. · and 610,306 bales in January a year ago. Fewer Imports of burlnp increased in Jnnuary, while un­ cotton spindles were active in January. Cotton mnnufnctured fibers were imported in less volume; spindle activity reduced to a single-shift basis, repre­ both movements were less, however, than n yeur ngo. sented in January 96.7 per cent of mill capacity, as The consumption of fur, the production of huts, nnd against 86.8 in the preceding month and 107.5 in new orders received by fur-felt hat manufncturers January a year ago. Stocks of cotton held at mills increased in January. and warehouses at the end of January totaled 4,599, 798 bales, as against 5,149,617 on December 31 and IRON AND STEEL. 5,474,107 bales a year ago. Imports of raw cotton Pig-iron production increased 3 per een t"iu J un uary, increased .in January, but were less than one-half as but was 7 per cent below a yeur ugo. Consumption of large as a year ago, while exports of unmanufactured iron ore likewise incrensed in January, while stocks of cotton, although greater than a year ago, declined ore at furnaces and at Lake Erie docks declined, being from December. Exports· of cotton cloth declined on , 3 per cent below a year ago. Produc­ in January both as respects the previous month and tion, sales, shipments, and unfilled orders for merchant January a year ago. pig iron also increased in January. Wholesale prices

ExPORTs AND CoNSUMPTION OF CoTToN. of pig iron correspondingly advanced over the preced­ ing month. I.COO The output of steel ingots inereased.over 27 per cent 900 in January, but was 6 per cent below a year ago. Un­ 800 lA Jl ,..,l "'w Ill A 1\ EXPORTS_. 1 filled orders of the United States Steel Corporation _, 700 v ;a 1/ ~ \ increased, being at the end of January, 8 per cent ... 800 _... \ 0 ,,~ l \ greater than on December 31, 1923. The production llt.cd 77 a year ago. Prices of raw cotton and its products tonnage. ca· tonnage. 1I ca· tonnn~c. declined from December. Production of fine cotton pacity. :1~acit~:. ----- goods in the New Bedford district increased over ~prll=-·-~~~~: ...~== -20-1-,43-4 i 87 217,500 t ..... -/-- ...... both the previous month and January a year ago, 185 457 : !)() 200,000 1' •••• ···- ••••••••••• MnY----·······--··········- 169:5171 73 1~2,500 !!-······-,-····-·-··· while sales declined from December, being in January June...... 15S,444 68 110,000 '·-······:·--········ July...... 157,067 I f.S 170,000 1:--··-·-·'··-········1 less than one-half as large as a year ago. Dividends August...... 147 2().l 64 100,000 ·'--··--·· ·--·--·---- September...... 133; 395 58 145,000, 1'1------· ··-·----·-· scheduled for payment by Fall River mills for the November...... October...... 112, """-"9··~· 49 112250, "oooiOO ,,-···--··.-· ··-·-· --- first quarter of 1924 registered declines from both the Det'llmber...... 139,0\ I I 60 ' w------· ,··------1923. I lj ' previous quarter and the corresponding quarter of January...... 173,008 I i3 189,800 '------...... 185 2S3 78 202,!;00 ::------· ...... 1923, the current payments being equivalent to 1.51 February...... 220; 832 . 93 211,800 i'-···--·· ...... March...... 186, iill 1 ill 205,400 •!·--·-·------······ April...... 132.441 1 5G 145,000 1·1··---··-.-··--·-·--- per cent on capitalization, as against 3.26 for tl1e last l\Iay...... 118,7081 50 130,000 1.----·--· --·--··---· June...... 118,0.'!2 't 50 130,000 1'··-··---,'------···-- quarter of 1923 and 1.69 per cent for the first quarter July...... 135,530, 57 148,200 ·, ...... ,...... August...... I 2 35 200 of last year. September...... 122,083 5 1 • 1 ------··'--··------October...... 1112 792 48 12·1,800 i 79 I 205,400 Imports of raw silk increased in January, but were November...... •12.'i,761 i 51 140,400: 69 1 li9,400 December...... 1187;429 i 80 208,000 f>6 17l,OOJ below a year ago. Silk deliveries to consuming estab­ I I 1924 • • 161,416 72 i IS7, :!Oil ll3 · 10:1, SOil lishments increased over December1 but were, likewise, January...... ! .,~ I 1 below a year ago. Stocks of silk totaled :14,398 bales ------~~~------~---~-----~--~---- t Hcportcd by 174 firms w!th a capnc!tY of :J:35,007, ton~. at the end of January, as against 40,959 at the end of • Heported by 108 firms W!th !I capac!tY of ~l;l·~~· ton>. • Heported by 163 firms w1th a capaCitY of .Jz,,~7 tons. 1923 and 47,087 on January 31, 1923, while the whole- • Reported by 149 firms with ll capacitr of 223,977 tons. 12 . New bookings for steei castings increased in J anu· stocks of zinc continued to accumulate. Receipts ary, but were less than one-half as large as a year ago. and shipments of zinc at St. Louis declined in January, New sales of fabricated structural steel declined in but were well above a year ago, while the price of January from the previous month and a year ago. prime western zinc in slabs averaged higher in January. Shipments of structural steel by fabricators also declined in January. The following table shows statistics RELATIVE PRODUCTION AND STOCKS OF ZINC. reported to the Department of Commerce by 179 (1913 monthly avemge-100.) identical firms with a present capacity of 233,905 tons 40 per month and total statistics computed to a capacity I 20 I of 250,000 ~ons per month in 1922 and 260,000 tons in / 1923 prorated from the percentage figures. \ January locomotive shipments by principal manu­ 00 J ' facturers were less than one-half as large as the ship­ STOCKS ~' \ I ments in December. Unfilled orders for locomotives 80 I \ I continued to decline, the number on order at the· I end of January being 376, as against 2,316 on , ,. \.. J 801j 'I 1923, when the number on unfilled order was at its " \ I ~ ~, highest. New orders for freight cars also declined in \ I I I ffi 140 January. Sales of mechanical stokers and new orders Ol ' ::; \J \ it: PRODUCTION for steam, power, and centrifugal pumps increased ~ 120 t over December. 1S I 0 u z 1813 AVERAGE ~ I - 100 i\ LOCOMOTIVE SHIPMENTS AND UNFILLED ORDERS. \ I \ I \ I so : \ lj ' ... 1-' ~'" \ if\ 60 \ "' ~~- I v I'~ \ v f-., / 40 . \J 20

0 ... 1.500 ri ...... ~ ~ ~ .,5 ..~ oz> ,..,z "li ~ ..J tl: ~ z ~ ~ ~ a. ~ z ~ ~ .J ~ ~ ~ .,...,.. "' :l~~z~~~i!~z:!l:l~~ttz-," 1 19'.20 1 1921 1 1922 1 1923 · 1 Stocks of tin at New York increased in January,

1,000 while the world visible supply, although greater than

a_t the en? of 1923 1 was below a year ago. Consump­ tiOn and llll~orts also increased in January, while the wholesale pnce of pig tin averaged higher during the month. Receipts of lead at St. Louis increased while ship­ ments. de~lined. The wholesale price of desilverized lead, m pigs, averaged higher in January.

FUELS. 0 0 z ...... z .. z ~ ~ g i .. f .. z The output of bituminous coal and coke increased, ~ ~ 0 ~ t I .." " .. " .."' ~ 8 ~ .. ~ 0 ~ 11120 1 1921 I IW2 I 1923 I while · anthracite coal production decreased from NONFERROUS METALS. December. Exports of coal declined, while coke exports increased in January. Wholesale prices of Production of copper increased 2 per cent over bituminous coal and coke averaged higher, while December, while e...'\:ports of copper declined 9 per cent. anthracite prices showed no change. Below is given Wholesale prices of electrolytic copper averaged lower a table showing, for specified dates, estimated stocks in January, while sales of tubular plumbing goods of bituminous coal in the United States and stocks of increased over the previous month and a year ago. anthracite coal held by 474 retail dealers as compiled Zinc production increased in January both as by the Department of Commerce in cooperation witll respects the previous month and a year ago, while the United States Geologica;J. Survey. 13

STOCKS OF CoAL. AUTOMOBILES AND TIRES.

ESTil!ATED BITUl!INOUII RETAIL ANTBRAClTE Automobile production increased in January, the IN UNITED STATJES. (474 DEALERS). passenger-car output totaling 287,296 cars, as against TEAR AND l!ONTB. 275,434 in December, and trucks 28,797, as compared Days' Days' Short tons. supply.! Sh ort tons. supply,! with 27,720 in December. Shipments of automobiles I in January increased correspondingly over the previ­ 1919: Jan.! ...... 57,900,000 42 942,398 36 ous month. Apr.l. ••••••••••••••••• 40,400,000 31 817,069 31 1920: . Mar. I ...... 24,000,000 18 ...... i5 RELATIVE AuTOlii:OlliLE PRODUCTION AND EMPLOYMENT IN June! ...... 20,000,000 15 •..•••.. 646;296" 1921: THE VEHICLE INDUSTRY. Jan. I ..•••••.••..•...••. 45,800,000 39 709,373 24 Apr.l...... , 39,b00,000 36 ...... -·--··--· (1921 monthly ayeragc = 100.) Aug. !...... 41,100,000 39 ...... 47 Nov. I...... 48,000,000 43 ···--·i;422;6oo· 1922: 300 - Ian.!...... 48, 000, 000 41 1, 418, 732 44 Mar.l.... c ...... s2, roo, ooo 41 1, 123, 404 28 Apr. I ...... J 63,000,000 ------· !"""""""""""""""" ...... Sept. 1...... 22,000,000 17 ~------...... 20,000,000 21 ·------~~~ .~i.::::::::::::::::: 32, 000, 000 23 i 454, 850 11 1923: j 250 -,-fij~• ~r-;-;i',- ~:~:~ ~ ~------~~~:==~-'------~~ t:l.t:::::::::::::::: 36,000,000 22 ------June! ...... '"'""~"", '""''"'"""'"": I . nJ!. July 1...... !~: ~: ~ ~~ !:::::::::::::::: ::::::::: :. --· '.. ,.i Aug.!...... 52, 000, 000 44 I 837, 099 25 Sept. 1...... 56, 000, 000 46 i 767, 899 21 1 l924~ct- 1.-. ·------1 60, 000, 000 45 : 663, 340 22 200 ~ :...... -~ j Jan.l...... l 62, ooo. ooo 46 1 1, 063, 277 37 C/) I 1 i t a: 1•1,• a { ~~ 1 111 At current rato of consumption. lXI •At least 63,000,000 tons. No canvass made of consumers for this date. :! ::I ?PY!;>J' I .· J_ z 160 Production of petroleum declined in January, while X stocks at the end of the month registered the first 111 I'" f.MPL.OYMENT I IN VEHIC!..EI INDUSTRYI 0 '\ ""' I ... 1- .. J. --+--- t---- . decrettse since the accumulation "which began in Jrmu­ z i . ary, 1923. Petroleum prices advanced, while exports ~ I 100 11 ~r1Vf of gasoline registered an increase of 22 per cent over 1921 AVERAGE the previous month. ' ' I '' v .!' COMPARISON OF CALIFORNIA PETROLEUM PRODU-CTION WITH If "' PANAMA CANAL EASTBOUND TRAFFIC. 50 I • ,' (1920 monthly average -100.) 400

0 a: z a: ::; 1- z ::; .... z 360 • 0. t; 0. :::l 00 < I of crude rubber declined 26 per cent in January, while z the wholesale price of rubber averaged 2 per cent ~200 ~ lower in January. 0z .. HIDES AND LEATHER. PETROLEUM 150 .~ Imports of all classes of hides and skins declined in J January, the total being less than one-half as large ~ ~ as the inward movement a year ago. Exports of sole I 1920 AVERAGE 100 ,\ ~ ~ v- \ ~ I"' ...... , ,., leather increased over December, while the outward l' ', -v ,J "1 movement of upper leather declined. Boot and shoe production increased in January, ,\ ' • >- while exports declined. Wholesale prices of hides and ' leather increased over December, while boot and sho~ :prices showed no change in January. 14 BUTTONS AND OPTICAL GOODS, The following table shows the number of leather gloves and mittens cut in December and January as The productive activity of manufacturers of fresh­ reported to the Department of Commerce by 234 water pElatl buttons declined 2 per cent in January, identical establishments: while stocks of but.torts at the end of the month showed relativEliy no change from the inventory at LEATHER Gz.oVES ANl:> MITTENS CuT (IN DoZEN l'Atns). the t:lnd of i 923. il Sales of spectacle frames and mountings by manufac­ n£CEMnEn, 1m. II, $AiiUAnY, 19~-i. ----:1------t'urers of optical goods increased 18 per cent in Janu­ Wo· ~~ Wo· nry, while unfilled orders at the end of the month regis~ Men's men's ! 1\Ien.'s men;s nnd and '· nnd and tered an increase of i pElr cent o\er the previous month. boy's. chi!· ;!I boy's. cllil· dren's. 1 dren's. \ BlJILDING CONSTRUCTION, ·------.,---~--- Dress nnd street gloves, etc.: q Constt'uction costs in general a•ei'aged higher, being Imported...... 17,860 6,058 j 20,795 I 5,619 Domestic...... 22,7S6 1,831 -; 31,179 2,it~ ii1 January froin 5 to 10 per cent above a year agd. Work gloves, mittens, ctc ..•.•~---~~:_:-~_:_·_~6,414 2U l! ~40,0~l_ Fire losses in the United States and Canada registeted an increase in Jnm.tai'Y both as respects thE! prevl.olis PAPER AND PAPER PRODUCTS. month and Jamutr,}' a year ago. Imports of mechanical wood pulp declined 50 per Contracts a'warded· for buihiing consti'uction 1n 27 cent in January, while chemical pulp imports regis­ northeastern States decreased in January, but 'were tered a decli~e of 9 per cent from the preYious month. well above thE! anticipated expenditure in the lettings Total pulp imports in January amounted to 106,225 of a year ago. Residential construction l'epresented tons as against 148,893 tons a year ago. Production 61 per cent of the total awards for all constl'uctioii of newsprint paper increased 9 per cent in January, amounting to $261,320,000, as against 5i per cent of while shipments registered an increase of 6 per cent the total a\vards amounting to $217,333,000 in Jan­ over December. Both imports and exports of news~ uary, 1923. print declined in January, while stocks increased, Since January, 1923; monthly construction statistics being at the end of January ahout 2·1 per cent greater for 36 States, representing seven-eighths of the total than a year ago. construction in the United States, have been available. ]Jroduction of paper boxes increased 15 per cent in In the table below are giYen comparative monthly January, hut wns G per cent below a year ago. Do­ data coYering t.he awards in those States for the same mestic sales of abrasive paper and cloth increased classes of construction as are regularly published in nlmost 50 per cent in January, but were 3 per cent the Sur;-ey of Current Business covering the 2i below a year ago. northeastern States, data for which will be continued. VOLUl\IE OF BUILDING CONTRACTS AWARDED, BY CLASSES.

70r-~---i---t---r---r---4---+---~----l---4---+---~--~--4---~---~--+---+---+-~

1- ~oor---t-~~ri~--+---+---~--1---~--~--~--~---+---+~~--~--~~ u. Ill ~ 50 1---1--11 ::la Cf.l 40 u. 0

1918 lln3 Hi

1 CoNSTRUCTION CoNTRACTS AwAnnl!iD tN 36 81'ATEs. brick at New York averaged higher thnn those pre­ - vailing in December. The production ancl shipments I JANU.UIY- DECEMBER, of Portland cement declined in January, Rhipments CBARACTE!l OF CONST!lUCTiON. 1923 192~ 1923 being also less than a year ago, while st,ocks of cement continued to accumulate, being 23 per cent in excess Orabd total: Value. _• _••• _thousallds of dollars_. 299,748 301,952 2·12, 738 of those held a year ago. The wholesale price of Floor space ..•.thousands of sq. ft .. 5:1,269 56,624 43,326 cement averaged higher in January. New concrete NUmber of projects ____ .. ·----...... 8,939 8,111 6,517 ilwine.ss: paving contracts awarded in January declined from Value ______thousands of dollars .• 42,388 38,393 36,332 the previous month, the total awards, however, being Floor space ...... thousa.nds o! Sq. fL. 8,558 7, 778 6, 797 Number of projects ...... _____ ... 978 1,057 903 lndustrial: 36 per cent above a year ago. Value ______, _____ thousands of dollars •• 25,160 24,769 23,152 New orders, shipments, stocks, and unfilled orders Floor space _.... _.... thousands of sq, ft.. 5,063 3,795 4, 765 Number of projects. ______358 280 282 for all classes of enamel sanitary ware incrcnsed in ltllSidentir!l: I Value ...... thonsands of dollars.. 14?,689 170, 186 122,678 January, while the production of roofing felt declined Floor Space .... _____ .thousands of sq. fL 33,166 37,945 26,724 Number of projects ______6,661 6,977 4, 581 from December. ~ducatlonal: Valtie._. ______thousands ot dollars.·. 28,428 18,519 16,862 Floor space .. ______thousands Of sq. ft .. 4,111 3,114 2, 726 Number of projects ______• 202 149 130 CHEMICALS AND OILS. Other ~ubllc and semipublic:' Va ue ...... thousands of doilars __ 15,546 21,705 15,073 Imports of potash increased 6 per cent over Decem­ Floor space ...... thousands of sq. ft.. 2,373 3,225 2,316 Number of projects. ______291 287 227 ber, while the inward movement of nitrate of soda Public 1\'orks and utilities: Value ______.thousands of dollars .. 40,636 28,381 28,642 registered an increase of 81 per cent in January over 449 361 3W Number of projects------·------·---·-- the previous month. Exports of fertilizer, sulphuric 1 As compiled fr_om data furnished by the F. W. Dodge Corp. acid, and dyestuffs also incrensed in January over the 1.Idn.cludes hospitals and institutions, J?Ublic buildings, social and recreational buii mgs, and religious and memorial bmldings. previous month, and, except for sulphuric acid, over January a year ago. Prices of crude drugs and es­ BUILDING MATERIALS. sential oils declined, while drugs nnd pharmnceuti­ Total production of 10 species of lumber increased cals increased. in January, but was below a year ago. Correspond­ Receipts and stocks of turpentine and rosin at the ingly, shipments of the various important species of principal Southern ports declined seasonally and, for lumber increased in January, while stocks of lumber, rosin, were less than a year ago. Exports of vege­ except western pine, declined generally from the pre­ table oils declined 36 per cent in January, while vious month and a year ago. Exports of lumber imports registered nn increase of 77 per cent. over Uw increased in January both as respects the previous previous month. lllonth and January a year ago, while prices of lumber Stocks of cottonseed and cottonseed oil at the end in general averaged higher during the month. of January were larger than a year ago, while cotton­ Production and shipments of oak flooring in Janu­ seed-oil production declined 16 per cent from a year ary increased both as respects the preceding month ago. The wholesale price of cottonseed oil nt 11 cents and a year ago, while the output and shipments of per pound showed no change from December. Con­ lllaple flooring declined from these two periods. sumption of oleomargarine increased in January Stocks of both classes of :flooring at the end of the both as respects the preYious ·month nnd Junuary a ruonth registered a decline from the inventory at the year ago. end of 1923. New orders and unfilled orders for Receipts, shipments, and stocks of flaxseed at flooring increased over the previous month and, for Minneapolis and Duluth decreased in January. Ship­ oak flooring, over January a year ago. ments of linseed oil from Minneapolis also declined Production and shipments of refractory bricks in­ in January, while linseed-oil cake shipments increased creased over December, but were less than a year ago over the previous month. except for shipments of silica brick. New orders CEREALS. ~nd unfilled orders for clay fire brick also increased 1n January, while stocks of clay fire brick and silica Receipts and shipments of wheat at principal pri­ brick registered increases over their respective in­ mary markets declined in January, the receipts being ventories at the end of the. previous month. Pro­ 58 per cent below a year ago. Exports of wheat, duction and shipments of face brick declined in including flour, also declined, being in per January, while stocks and unfilled orders increased. cent less than the outward movement in the samo Production, shipments, orders received, and unfilled month of last year. The visible. supply of wheat in orders for paving brick likewise declined from Decem­ the United States and Canada east of the Rocky ber, the production of No. 1 and No.2 brick in terms Mountains was 38 per cent greater at the end of of percentage to normal plant capacity being 37, as January than a year ago. Wholesale prices of whe&t against 52 in December. Wholesale prices of common and wheat flour averaged higher in January. 16

'fhe following table shows the output of wheat flour In the table below are given imports of bacon, ham reported by over 1,000 mills each month, which made and lard into the United Kingdom, by principal about 84 per cent of the flour produced in 1921, countries of origin, for the calendar years 1909 to according to tho Census of Manufactures: 1923.

WHEAT FJ,oun PnoDUCTION. BACON, HAMS, AND LARD! IMPORTS INTO THE U:rnTED l{ING• DOM, BY CouNTRIEs, 1909 TO 1923.1 : -~.c.~~:~:: ~c.·cc:~~o:r·=,:·:a;:::;;:;-~ ;e~c:~;c- -· ground produced produced I of BACON. BA UOSTU. I (thous. of (thous. of I (thous. of 1 capacity -~ bushels). bushels). pounds). , operated. --~ I Other ·····--·--1 ~-~ United I I Den- United YEAF. States. i Canada. mark. coun.. States. 1923. tries. July ...... •...... I . August. ...•.••••••••••..•.••••. I ·····- September -····------······---i Thousands or pounds. October------··--··-----~ November .•••...... •.••••.•• December ...... 1!)()9 ______120,240 1910 .. ______245,174 49, 659 i 202. 688 20,527 ! 6,211 197,185 1924. I 146,375 46, 137 I 200. 972 39,213 I 74,567 5,976 162,670 191L. •...... • 203,598 35,057 99,378 7,561 204,149 Jnnuary ...... j 68, 970 i 237, 672 1912 ...... 190,215 43, 389 259, 680 25,720 I 91,840 8, 723 200,534 ····------'-~----''------'-----...:_ __ 1913...... 201,978 27,274 I 261,626 53,318 ! 85, 184 10,576 224,UOO I 1914 ...... 170,573 38,3361307,790 58,019 i 86,778 7,170 197,692 Receipts of corn at the primary markets declined 191L...... 395,315 96, 789 215, 218 7,434 ' 152, 7il 13,040 247,568 1916 ...... 448,494 178, 541 1178, 79S 21,932 ; 167,284 6,858 216,477 in January both as respects the previous month and 1917...... 388,314 197,914 125,616 23,548 : 126,194 5,984 168,022 1918...... 968,276 192, 564 ' 3, 530 9, 746 i 158,929 ! 15,224 309,165 a year ago, while corn shipments, although below i I 1919... ______660,074 234,556 30 32, 090 1192, 507 i 10,590 243,973 January, 1923, were greater than in December. The 1920...... 376,574 167, 217 78,862 5, 856 1 31, 762 1 4, 565 162,012 visible corn supply at the end of January was 53 per 1921...... 281, oro 94,531 207,186 53, 144 1 114,320 , 11,913 254,775 19231922 ...... ______275,897 82,575 264,738 41, 191 II 147,903 ! 12,620 257,524 cent below a year ago. Exports of corn and corn­ 316,810 93, 440 395, 423 67, 160 ,, 181,475 1 14, 149 272,848 I 1: i meal increased 42 per cent in January but were less • 1 Data from Trade and J~avlgation of the United Kingdom as compiled from records than one-half as large as a year ago. Corn grindings In the U. S. Department of Agriculture, Bureau of Agricultural Economics. for glucose and starch manufacture increased over Receipts of butter, cheese, and eggs at the principal both the preceding month and January a year· ago. markets increased in January, but, except for cheese, The wh~lesale price of corn averaged higher in January. were below a year ago. Wholesale prices of butter Receipts, exports, and the visible supply of oats and cheese averaged lower during the month. ·· declined from the previous month, while the whole­ sale price advanced. Receipts and exports of barley TOBACCO. an_d rye correspondingly declined in January, while pnces of these grains averaged higher during the Consumption of tobacco and tobacco products, ras measured by: tax-paid withdrawals, increased consider­ month.. . Receipts, shipments, imoorts. ' and stocks of nee mcreased in January, while exports declined. ably over December and, except for large cigars, over January a year ago. Exports of cigarettes and.unman­ MEATS AND DAIRY PRODUCTS. ufactured tobacco declined from December, but were larger than a year ago. The receipts and slaughter of cattle, hogs, and sheep increased in January in a seasonal movement, WATER TRANSPORTATION. being, in each instance, greater than a year ago, except for cattle, which declined. Shipments of live­ Entrances and clearances of American vessels in stock also increased in January. Exports and cold­ f~reign trade declined in January, both from the pre­ storage holdings of pork and pork products increased VIous month and a year ago. Entrances of foreign in January over both the previous month and a year vessels also registered a decline from the previous ago. Exports of beef and its products, although below month and a year ago, while the clearances ·of foreign a year ago, registered an increase over the previous vessels increased over both December and a year ago. month, while the storage holdings of beef at the end Freight rates from Atlantic ports to the United King~ of January were 10 per cent below a year ago. Cold­ dom and all Europe registered slight declines in Ja~~ sto>-age holdings of lamb and mutton were less than ~a~. Inland waterways traffic in January was negh~ one-haH as large as n year ago. Wholesale prices of hgible because of seasonal weather conditions. beef cattle and meats declined from December. RAILROADS. Receipts of poultry at the primary markets declined seasonally in January and were 13 per cent below a The daily average surplus of idle freight cars de· year ago, while cold-storage holdings increased clined from 312,338 at the end of 1923 to 169,036 at being, however, at the end of per cent the end of January, while the shortage of cars in· b~low a year ago. Total cat.ch of fish at the prin­ creased from l23 to 4,598 in the same period. cipal ports and cold-storage holdings declined from Weekly average car loadings were larger in January December. · . ·• ~ . . than in either the previous month or in January a 17

year ago. Except for ore and general merchandise, Employment in N cw York State and Wiseonsin which declined from December, the increase in weekl) declined in January, while reports from indi­ loadin'gs in ,J anuaty over the previous month was cate an inc1·ease over December employment nm

SHoRTAGE, SuRPLUs, BAD-ORDER, AND ToTAr, LOADINGS '"'"''-~~~'~ -·-=-~~~~~~~;;;g~J~'---~i:~;:~~· ~~--!>~~~~~;g~~~· ~ c.N~::~:~g~~f" OF FREIGHT CARS. RECEIVE!>. I· EXAMINED. 11 API'OlSTEll. i st;t'AIL\n:n. 19!20.,. 19!11,. 1922,. 1923 .: .J a: .J ~ ri .J ~ .: ~ ~ ltoNTn. .. IL :> u .. .., .. l ~D~pnrt·I·Field -~~!I'Dcpa:-~Fl~h:l:;>cr"~~~:~·-;.:,cl i;~::pnr-t-1 ;i·~~~- ~ .~ 0 ~ 0 ~ 8 mental ,. mental . , , mentnl , . , 1lllCulnl .· , ... ~ .. :service. scrnec. service. servlce. scrvicc.js..:n 1t'C. ;~en·irt~. sen u-c. " " 1 1 ----·-~-- ·----· ·--····--·--·· ·-----·--- rl June ...... l 3,930 9,898 3,515111,051 .~ \5,02'J I 876 o,II.KJ July .• ______! 10,711 11,982 2, 320 12, mm wu r., 787 1 52:1 8,:17:1 ,r August...... ! 8, 056 13,72-1 1, 817 II, 770 618 5, 791 ; ~~~ ~· !!.\! September ... i 6, 706 17,047 I, 793 Hl, 82t 702 I 7, 514 I ,, ,4.1 ) i\ October ______:. 7,800 . 10,479 3,038 16,893 552, IO,fil2 I ~ZI fi,3:1~ It\ / \ November ___ 1 7, 5!i4 13,422 2, 478 15,564 W'J I S, 059 !1 fJOI fl, l!f.O Decemb~----: 7, 9G7 , 9, 986 I, 397 9, 710 361! i '5, !J jurisdiction o! the fourth civil-service district with ollices in Washington. By ~""" ,, .. 1r field service is meant ull service outside o! the District o! Columbia nnd includes \ \ 1/' the sen·ice in Washington under tho jurisdiction of the fourth civil-scn·ice district. ' Subject to revision. !"'" y The following tn.ble, compiled from dn.ta from com­ mercial sources, gives, by classes of labor, a summary of employment at anthracite mines. ·~ LABOR AT ANTHHACITE l\hNES.I {,\ ~OAR :suRP ~us ·~ COIIPANY liEN. All 'I I other II I'' r' ~~~ Pltl• :RDEI leAR Total. l\ . I Miners' , ) r.. ~· I\+ lAo • lmers. 1 laborers. I pJoyt•es II : Inside. Outside. at rol· \ ~ :I ~ lit•rir.s. ~ ..... """' I./ ~ I~ \ ... Number of employees . ~--.,. l"""'~ .... r, .. r•• ·-- ~· . I ·\ I I ·~· 19~1. I 23,157 I 4, 730 Octob~r ...... 153,400 43,083 43,487 1 3!!, 0431 November ...... ::::l 157,719 44,401 24.426 44.574 39, 4S8 4,830 I '\ December...... 156,906 44,515 24,588 44,225 38,939 4,6.W ~\ 'I 1'-R . OHC ITAC 11122.• ----1 January...... ---- 155, 172 44,418 24,242 43,879 I 38,012 4,621 February_ ...... -·--1 155,370 44,355 24,418 43,000' 38,083 4,614 September...... 144,916 3S,UIO 19,295 41,020 41,234 4,45i October...... 152.775 42.755 Zl, 156 43,554 39,749 4,561 ~~ November ______···-----1 154,024 43,436 2"!,500 43,844 39,562 4, (]?! •i' December...... 154.,987 43,836 2'.!.994 43,931 39,610 i 4,616 1923. I =~ J,muary...... 156,408 44,316 23,313 44,3881 39,602 ! 4, 789 --·- EMPLOYMENT. FebruarY------155,511 44,104 23,130 39,571 I 4,7M March ...... 155,813 44,310 22, 9SO 44,207 3U,655 4,652 ApriL ______---- 43,766 21,860 44,031~w•l 39,006 I 4, 687 --~- 153,850 Factory employment as noted from reports of 1,428 4,6gs MaY------·· 153,443 43,717 21,506 43,907 39,6151 June...... ---- 152,665 44,011 21, 170 43,839 38,94\J 4,GQ6 representative firms, each employing normally 500 or ---- 21,016 43,613 39,066 I 4,7H July ...... ---- 152,281 43.842 more, increased 1 per rent in January. The principal August.-... -· .• ---- 152,697 44,126 20,820 43,513 39,492! 4, 746 .increases in industrial employment occuiTed in iron September•• _•.• ---- 148,873 43,314 20,424 42,585 37,935 i 4, 615 October ...... 154,235 45,027 22, 176 43,568 38,778 I 4,&6 and steel, leather, paper, chemical, und automobile November ...... 155, 125 45,346 22,854 43, 61o I 38,617 I 4,608 ---- 155,574 45,482 23,367 43, 6f,Q 38,360 I 4,699 factories, while employment in factories manufactUl'­ December...... - ---- I 19::-1...... 156,232 45,499 24,015 44,078 \ 38,1191 4,521 ing food products, textiles, lumber, stone, clay, and January----·--- I glass, and tobacco products registered declines from 1 Data from Anthracite Bureau of informatioll. . . . December. s No reports for sis months, March to August, mclusrve, on account o! stnke. 88005-24-:l 18 DISTRIBUTION MOVEMENT. tures chargeable to ordinary receipts declined 3 per Mail-order sales declined in January, but were 11 cent from January, 1923, while for the fiscal year, thus per cent above a year ago. Likewise sales of 10-cent far, the expenditures, amounting to $2,136,080,000, chains declined seasonally, but were 10 per cent above were about 1 per cent above a year ago. January a year .ago. Restaurant chains also had The per capita distribution of money held outside smaller sales in January, but the January business was the Federal Reserve System and the United States greater than a year ago. Treasury declined 6 per ·cent in January, amounting to $41.77 at the end of the month as against $40.74 SALES oF MAIL-ORDER AND CHAIN TEN-CENT STORES. on January 31, 1923. .. Below are given two tables showing the amount of .. - ~ taxes collected, by States, counties, and other civil II .. II divisions, and the distribution of these taxes covering II ~ II the year 1922. .. ·-·-1 II II '\· (;HAIN STORES...:. L.l SPECIFIED REVENUES OF THE STATES. COUNTIES AND INCOR­ t" I \ II I PORATED PLACES OVER 2,500, 1922, AND 1912, AND OF THE r. II {\ I I .J\~ NATIONAL GovERNMENT, 1923 AND 1913.1 I !l I I I i\ A I .. I..J,, .\ J( - I ..z """ I I v,~ I }.-:, /) ~. ,'1 I I 2 "' . I 1922 1912 ::l ,. ~- -J I I ,I I cent of i I I t1 .I CIVIL DIVISIONS. I crease, MA.IL•ORCI HOUSES I • .I I 912 to r" I Thousands or dollars. 1922. • ,~··___ State governments ...... ! $867,468 $306,521 183 • ' 742,331 307,872 I 141 0 fn~~~~teci"tiiilceliovei2;roo:::::::::' 1,532,400 849,971 80 . > . Totai .••••• : ••••••••••••••••••••• J 3,142,199 1,464,364 I 115 1100 U21 1102 i National Government.. ••.•••••••••••. ! 3,204,133 667,038 I 380 ! Candy sales by manufacturers, as indicated by Orand total ...... / J 6, 346, 3321 J 2, 131,402 I 198 January tax collections, declined in December, but 1 Comparison, 191! and 19IB.-The statistics here given form part of the 1922 cen· were 14 per cent above a year ago, while for the calen­ sus of wealth, debt, and ~tion as compiled by the U. S. Department of Commerce, Bureau of Cemus. .A Similar census taken for 1912 Included the re,·enues of the dar year 1923 manufacturers' sales of candy, aggre­ National Oo\·ernment and or all states and counties· but as regards cities, Included only those having a population or over 2,500. .A.oourate comparison can be made gating $393,163,000, were 11 per cent above 1922. only !or the revenues of the National Government the state governments and the counties. The comparison, however, can be extended to Incorporated places having Advertising in February magazines increased, being over 2,500 IJC!Pulatlon If allowance Is made for the fact that the places not having that population In 1910 and having it in 1920 are Included in the 1922 but not In the 19f12hrevenues-a d!Jference which would have very little effect on the comparability 12 per cent above a year ago, while newspaper adver­ o t e totals: tising in January declined seasonally, but was 2 per " Eq!llvalent to an average per capita In the United States or $58.37 In 1922 and ol $21• 96 10 1912 cent above January, 1923. Postal receipts in 50 selected cities also declined seasonally, but were larger SPECIFIED REVENUES OF THE STATES, CouNTIES, INCORPO­ RATED PLACES, TOWNSHIPS, SCHOOL DISTRICTS, AND ,ALL than a year ago. Internal-revenue taxes collected in OTHER CIVIL DIVISIONS, 1922 AND OF THE NATlON:AL January covering theater admissions and jewelry sales GOVERNMENT, 1923,1 ' in December increased both over the previous month and a year ago. Ll· Scp~· CIVIL I>IVJSIONS. General Special Poll censes ·1$1 PUBLIC FINANCE. Total. P~~~~~Y taxes. taxes. and assess· ~[;. ments .. The gross debt of the United States Government was ------1------State governments $8 1 365 $9 408 reduced three-tenths of 1 per cent in January, standing Counties •••.•••••• ::::::::··· 7~~: t~ $3~: ~ $ ~· ~ ~· ~ ~· 251 19:197 at $21,843,000,000 on January 31, 1924. Customs ~;:~~!?ted places ••••••• ::: 1, 627,329 1, 344,316 5i 847 1:196 73:238149,732 ~ receipts declined 2 per cent in January, but the total ,_All th ,r.-,·b····--··----··nc •. • • ••• • • • •• •• • ,738,.... 433 734,.... 994"' .,236.. , 2,'·"'I 036 •1, ..132 ,'J: o er civil dtvls!ons...... 102,069 77,247 2561 752 345 ~ for the seven months ending January 31, amounting TotaL •••.•.•••••.•••••• ._228, 948 •3,329, 380 258,03{129,190 408,597203,747 to $309,778,000, was 5 per cent above the correspond­ National Government ...... •3, 204, 133 ...... ····::: ing total for the period ending January 31 1 1923. Ordinary receipts in January registered a decline of Orand total ...... •7, 433, 081 ········I·· ...... 14 per cent from a year ago, while the total receipts : ~~::tv~~~i~ed by the U. S. Dlpart71Unl of Commerce, Burlau of the Cen11JI. 1 E ul aJ n o a per capita tax amounting to $38 90. b for the seven months of the fiscal year 1924, amounting Unite~ s~at:\:~~:;~~::t ot total taxes collected in all civil divisions oft • to $2,152,754,000, registered an increase of 3 per cent pr~rlf~~eg ~ll,:s: dCmtoms, $$2,189,000; Internal revenue (1) ln9":f ~~ or natio~ ti1 nk9 .~ an (2) miscellaneous taxes, $936, 600,000; tax on C1l' 8 over the corresponding period of last year. Expendi- ' Equlvale:t t 8• n,304,0Cil>; and Federal reserve franchise tax. $10,861,000. o a per cap1ta tax amounting to $68.47. 19 DEBITS TO INDIVIDUAL ACCOUNTS BY FEDERAL RESERVE DISTRICTS.'

(Relative monthly average debits 1919=100. Solid line represents tho actual index numbers while the broken line the index numbers after due allowance for """~onal variations. January, 1924, latest month plotted.) DISTRICT I-BOSTON. DISTRICT 2-NEW YORK. DISTIUCT li-PHILADELPH1A, ... 11 elearlng-house ceuters, .. 7 clearing-house centers•. ... 10 clearing-house centers. ,...... 110 1/ "t...~ ~ ... IJI ... .'" ~'~:1-1 ~~I ~,.. 0 110 11· ~r,~ ~Iu [V, VII] . • -~~ I" IU I ~~~v ~ :YiiY I"' II 1/ t1 II t-~~IV !I !lH i!•oo J 1/ rr ' IV i~t'( 'f I l)i~V t \ll~l .J-U I· .. IV l7 ,.N ~ltl ~1, "! IJ. ., IV 10 If v .. I' • • ., " .. Ill u lilt 1111> , .. I .... '"" 1101 ...... I '"' ...... I ••tt "'" "" .... DISTRICT 4-CLEVELAND. DISTRICT 5-RICHMOND. DISTRICT I-ATLANTA.·- 13 clearing-house centers. 7 clearing-house centers. 15 elearln~t·house centers. 1111 110 ... , ... 1.. 1.. - -- I ......

I if ... II 110 - J. ~--- 1!1, I I 0 :II !..X ~~ ~~~ 110 II lL 110 II ·W ~ ll • - If I~ . 1 lf IJ i\1l~v· 100 111\J ~ 1v:1~ , ! ~-~ I100 v !Wv I .. ~:iV bl-' I Ill ll 11~>~ i .. 11 \iro,~r' ~ ~ I .. ,v 1"1 '• r, ~ ~ '···I v «1- . ~ ., ~-li "'tv ' .. -~~ ..~ .. .. ·If ...... I .. I ,.,. loa .. lilt 1001 I tit .... I ltll 1011 1101 ,...... '"' '"" '"' DISTRICT·- 8-BT. LOUIS. DISTRICT 9--MINNEAPOUS. DISTRICT 7-CHlCAGO. 21 clearing-house centers. 5 clearing-house centers. 9 dearing-house centers. 110 100 ... 1., ,.. ... 110 10> I lA il - .. ... 110 • 'a II t-1 110 ' " • I •• k'I \[VJ \ot; I i It'.. 1\. ... I .~ ~ .. I •..( I (IJ I I ~· rt./ IV'\. /~ ~· t 11 r~ ~~~ VI ~~ i .. . 'V'PI \ J.~~ I•'· ., I' ~ .. ~~· v 10 ~ ~ ;.J' 1V lO 10 .. .. 10 .. I .. ~ I lOt .... ltll ...... I til 1100 ,...... I DISTRICT 11-DALLAS. DISTRICT 12-SAN FRANCISCO. DISTRICT to-KANSAS CITY. 18 clearing-house centen1, 14 dearing-house centers. ... 11 dearing-house centers. ... •• ... I I ,.. ... I tLl·tl ,., If • :IIJI.J, •• ~· ,,,,,: ... II ~f,lliJ r 110 '" ' ~j I ! lf 10 -.- ~~ 0 ~ #'J w ... r,•, ! VI l" ~I) i\ \ ~ ~ . I r\ IV •I I ~~ \ , I' h t1 ~I ~ .. • VI • ll~~ • +i i y 'VV "11 .. b ~~~ ~ .. "' " IT "" '10 .. ~ 10 10 ...... ,.., ...... • ...... ,. .... 1101 .... . · . 1- 1 the actual monthly Index numbers·- tor this movement since the beginning of 1919 for the principal 1 On pages 61·- to 65 of the October, lll:la,l:lurvey (No. 26) Were February Survey (No. 30) were given the monthly Index numbers since January, 1919, after ~t~:n 1924 cle &ring-house centers of the United States, while on page 25 oo • 1 . allowances for seasonal variations bad been made. 20 DEBITS TO INDIVIDUAL ACCOUNTS AT PRINCIPAL CLEARING-HOUSE CENTERS. GROUPED BY FEDERAL RESERVE DISTRICTS. Index numbers relative to 1919 monthly a••erage.

I 192! I 1923 !____ 19--;-2-4---1--·-9-23~. I January. I February.\ February. I January I February. February. UNITED STATES, 141 clearing-house l>enters __-: -I· 110. 8,. 99. 9 ~------\1-C-ru-c.p-~-~-t-~~-T~-~~-i-~rs-.-_-__ -__- __-_-. _- __-_- __- __-_- __- __-_-..1 .. _ --1:. :·~-----98-.-5·l---1-03-. 96 0 3 92 BOSTON DISTRICT: i Cbicago ••.. ----···--·------l0i. 1 -2 104.6 T t 1 1 123 7 1 111 5 ' 106 8 Detroit.. ••• ------1 132.6 125.3 111.1 11 1 On • ce,; ers .... ------·------1 126: 1 , 115:9 111:4 IndianapoliS------1 117.6 108.1 10ti.S H7. 8 118-5 107.6 !IIilwaukee .•••.... ------: 114.8 111.0 . 102.1 rl,trao~!.~i~drcdn-~:_:_:_:_:_:_:_:_:_:_:_:_:_:_:_:_:_::_:_:_:_:_:_:_:_:_1:, •v _ 111.1 I 99.3 94.4 Des Moines------·------···------·-1 90.4 79.5 80.7 New llaven .... ------1 129.2 113.9 102.8 g~~~dC~t~?!~"::::::::::::::::::: :::: :!.. ~~~: g 1g:! ~~~~ 1 " NEW YORK DISTRICT: I 93.7 ST. J,OUIS DISTRICT: j Total, 7 center•------109.1 98-1 117.2 101.7 98. i Albnny ______, ______! 110.3 124.1 103.8 104.2 96.6 111.5 102.6 98.1 Buffalo ...... ------·······--: 123.6 112.0 98.6 93.5 131.7 111.7 105.0 Tot~~~K~~~~~===:::::::::::::::::::::::! Memphis ... ------______. _____ . ___ ~ 114.9 98.5 - 108.6 97.7 93.4 124.3 ~~~·y~~~-:::::::::::::::::::::::::::1 Little Rock. __ --·------.• .1 177.8 11'>8.3 150.0 PHILADEPIII.I DISTRICT: I l\IINNEAPO!JS DISTRICT: 10 liS. 5 106.0 101.5 ! Total. centcrs ••• ------­ 102.5 100.1 Total, 9 centers.------··------1 &3. i 79.3 77.• 1 .------1 ll6. 7 Duluth ______. ______, :.s. 9 co.o 00.0 Scranton •••••• ___ ... ---..... ------•• -I 143.4 145.3 124.5 Trenton ___ . ___ ••• ___ ._._. _____ , ______125.6 79.4 74.0 134.9 118.9 95.1 90.181.8 I 90.9 CLEVELAND DISTRICT: = 77.8 77. s Total, 13 centers .• ------113.5 102.2 99.3 ~~~lr~~~~~~~~~~~~~~~~~~ ~ ~~ ~~~:J- ______~~J1 Akron •.•••••• ______• _____ • ______85.5 70.0 66.7 Cincinnati. .. ------•••. _ 138.1 116.6 116.6 KANSAS CITY DISTRICT: I i 83.1 Total,l4 centers------81.6: 76.2 I 8l.l Cleveland.------······· ••• ------98.4 89.4 96.6 Pittsburgh ____ •• ___ ••• ----- ___ •• ----- ll7.1 105.7 111.9 Den..-er------·------1 109.f,, 100.0 95.0 80.0 Kansas City, Mo ______...... _ 75.8! 70.7 I 72.9 Youngstown •• ------.. ----- ____ _ 111.7 62.1 71.7 156.0 148.3 119.8 Omaba ..... 6.). 9 1 Toledo.·------1 65.9 104.4 Columbus ...... __ . ___ _ 115.5 104.3 102.6 St: Joseph, !>.!o·------77.6 1 Dayton ••• ··------__ .. ______148.0 126.0 120.0 Oklahoma CitY------1 103.0 1 Tulsa ..... ------~ 78.7 j ~~: ~ 1-- ·---~~~=~ RICHMOND DISTRICT: Total, 7 centers .... ------·------102.2 90.5 88.0 DALLAS DISTRICT: , I Bnltlmore ••.•• ___ . ______.• 96.3 84.2 81.2 Total, 11 centers ...... ------1 1 108. S ··~ 94.8 95.0 91.6 78.5 76.2 Dallas ...... • 126.7 101.3 98.8 .RichmondNorfolk .. _------·------______82.6 71.7 117.2 107.8 100.9 .• _------1 93.5 Charleston.------...... ______73.0 67.6 110.8 Fort Worth------82.61 69.6 115.2 ATLANTA DISTRICT: SAN FRANCISCO DISTRICT: i I Total, 15 centers ______ll2. 9 102.2 89.2 129.4 I 107.0 120.3 104.9 96.7 Tot~,~SA~~!f::::~:::::::::::::::::::::::i ~~t; 251.91 187.0 Atlanta. __ ------Portland, Orcg ______&7.3 !1 Birmingham .. ------196.6 174.6 167.8 l 84.5 68.5 New Orleans •• ------120.0 112.5 86.2 San Francisco______1~~:l i 107.1; 89.5 Jacksom·ilJe .... ____ ------___ . _. 127.1 118.7 104.21 75.2 ! 68.0 Nashville .•• _.... ------...... ___ _ 82.8 72.0 68.9 ge:~f!~·;cciiliC:::::::::::::::::::::l 21;,. s/ 193.6 ! 176.2 Augusta ...... _------______• 83.8 75.7 78.31 I 'Revised. BANKING AND FINANCE. Bills discounted by Federal Reserve banks declined Bank debits in New York City declined in January 39 per cent in January, totaling S522,000,000 at the both as respects the previous month and a year ago, end of the month against S597,000,000 on Janu~ry 31, while bank clearings increased in January over each 1923. Investments of Federal Reserve banks also of the two comparatin~ months. Check transactions declined sharply in January, while the total reserves, for the rest of the country as measured by debits to deposits, and the reserve ratio each registered a individual accounts also declined in January from the considerable increase over the previous month. preceding month, while clearings increased. Loans, discounts, and investments of member banks also decreased in January. Interest rates were lower INTEREsT RATES AND BoND PRICEs. than in December . ../The two following diagrams drawn from figures made available by the Comptroller of the Currency show, by classes, the distribution of loans made by national banks during the period 1911 to 1923. The first diagram shows the percentage distribution as between time and demand loans ·with a further subdivision into loans against personal securities and lo~ns and discounts on single and double-name paper· Without collateral. For conn'~nience, loans secu~ed by real estate were included in this diagram, ''lith loans against personal collateral, the advanct>s on real estate by national hanks being very small. 21

DISTRIBUTION OF TIME AND DEMAND LoANS MADE BY . NATIONAL BANKS, BY FISCAL YEARS. The second drawing shows the percentage distribu­ tion as between loans against collateral and loans with­ out collateral. As in the first drawing, loans and dis­ counts secured by real estate were included with loans 0 on personnl· collateral. It is to be noted that each z C[ drawing from 1916 to 1923 shows a Yery small percent­ ::E w age of loans not otherwise accounted for, these repre­ 0 senting acceptances bought or discounted and eus­ tomers' liabilities on account of drafts paid undor letters of credit for which no reimbursement, to the banks has been mass failures increased in January, while defaulted linbiliti<~s registered a ~:>light decline. Total liabilities of bankrupts since July, 1923, amounted to $331,237,000, an increase of 11 pt>r cent over the same period of the previous year.

NUMBER OF BUSINESS FAILURES AND A~IOUNT OF DEFAULTED DISTRIBUTION OF LOANS MADE BY NATIONAL BANKS AGAINST LIABILITIES. CoLLATERAL AND oN SINGLE AND DouBLE-NAME PAPER WITHOUT CoLLATEHAJ:., BY FISCAL YEARS. ··"" '"' uoo .. ALL OTHS:R LOA*'IS AJrCD DISOOUNTa ...... ~L...... " _ : 2.100 10 _ I , ... ·ll.~lt /! ~\ I ~ 1.100 :eo ~ , .. ~ j .....j\ riv- =~ A IAI. i .. lh j. i t.&CC ~;10 U~i rv ;J~ ~ 3i \1 1\ I I w· L,IUII.IT1U i ~~ 1\\ ~ "-~ ~ ""' •.. .v . '•,. I .., ~~ 'it '\:I i "' ~ 0 I I ... .. ~r-1 .., 10 J., 1-z ~· • • . . . a: " ~ 3• ~ 1923 In the preceding issue of the "Survey" (No. :30) was given a table showing the number and liabiliti<'s of insolvent bunks by years since 1911 as eompiled from commercial sources. Herewith is given a table compiled from reports of the Comptroller of the Currency showing the number and capital of national banks which failed each year since 1870 and the percentage relation between the capital of failed nationnl banks and the capital of all national banks. 22

BANK F AlLUREs, CAPITAL AND ToTAL REsouRcEs Below is given a table showing a comparative sum­ N~-r;o:.::: NATIONAL BANKS, AND PERCENTAGE OF CAPITAL OF mary of the loaning operations of the . 12 Federal FAILED BANKS TO TOTAL CAPITAL OF AJ,J, NATIONAL BANKS, BY YEARS, 1870-1923.! intermediate credit banks since October, 1923.

LOANS AND REDISCOUNTS OF THE FEDERAL INTERMEDIATE NKS I Per I F AILI'lD BA • II Capital stock nt o( CREDIT BANKS 1 AT THE END oF MoNTH. --.-----11 Total resources, of nil national 'f U d Yl'lARS l'lNDI'lD all national banks on a ·lt OCTOBER 31- Num· Total I banks, on or or about capt al ber of capital about June 30. J 30 to t()ta l92S 1924 !ailures. stock. une · captt.nl. I ------I October. November. Deeember. January. 1870 •••••••••••••••... None. None. $1,565,756,910 $427,235,701 None. 187L •...••••••••••••• None None. 1, 703, 415, 336 450, 330, 841 None. 1 6 $1,806,100 1, 770,837,269 470,543,301 0.381 ~~~::::::::::::::::::j 11 3,825,000 1, 851, 234, 860 490,109, 801 . 780 Direct loans -.-..••••.•.• $21, 257,477 $27,863,360 $30, 577, 492 $32, 295, 425 1874 ••••••••••••••..•. , 3 250,000 1, 851, 840, 914 491, 003, 711 . 051 Rediscounts ••.••.•..•••• 6, 786,077 8, 687,569 9, 104,938 11,139,060 1, 000, 000 1, 913, 239, 201 501, 568, 563 .I99 .. 1 There are 12 Intermediate credit banks located m the same mtles as. th_c 12 Fed· 965. 000 1. 825, 760. 967 500, 393, 796 .193 3, 344, 000 I 1, 774, 352, 834 481, 044, 771 .695 era! Laud Banks as follows: Springfield, Baltimore, Columbia, Lomsvtlle, New it~~~~~~~~~~~~~~~~j ~~ I 2, 612, 500 1, 750, 464, 707 470, 393, 366 .555 Orleans, st. Louis, St. Paul, Omaha, Wichita, Houston, Berkeley, and Spokane. 18711 ...... ______1 8 1, 230, 000 2, 019, 884, 549 455, 244, 4I5 .270 700,000 2, 035, 493, 280 455, 909, 565 .I54 Prices of ·industrial stocks averaged 3 per cent 18811880 •••• : •••••••••••••·······-·····'! None.3 None. 2, 325, 832, 701 460, 227, 835 None. 1~---·-·····-······· 3 1,561,300 2, 344, 342, 687 477, 184, 390 .327 higher in January, while prices of railroad stocks 1883 •••••••••••••••••• 1 2 250,000 2, 364, 833,122 500,298, 312 .050 1884 ••..• ----···-···-- 11 1,285,000 2, 282, 598, 743 522, 515, 996 .246 were almost 4 per cent higher than those prevailing 600,000 2, 421, 852, 016 526, 273, 602 • 114 in December. Sales of stocks and bonds on the New 650,000 2, 474, 544, 482 539,109, 291 .121 ntt::::::::::::::::~ i 1, 550,000 2, 029,314,022 565, 629, 068 .274 York Stock Exchange were larger than in either the 1888 •••••••••••••••••. 1 8 1,900,000 2, 731,448,016 588, 384, 018 .323 1889 ••••.••••••• _.____ 2 250,000 2, 937. 976, 370 605, 851, 640 .041 preceding month or in January, 1923. Pric~s of 18gij •••••••••••••••••• l 9 750,000 3, 961, 770, 826 642,073, 676 .117 bonds in general averaged almost 2 per cent htgher 1891. ••••••••.•••••••• 1 25 3,622,000 3,113, 415, 254 672,903, 597 I .538 16~...... 17 2,450,000 3, 493, 794, 687 684, 678, 203 : .368 in January, public utility bonds making the largest 1893...... 65 10,910,000 3, 213, 261, 732 685, 786, 718 1 I. 591 1894. ••••••••••••••••• 21 2, 770,000 3, 422,096, 423 671, 09I, I65 .413 percentage increase over the previous month. 189~ •••••••••••••••••• ,· 36 5,235,020 3,470,553,307 658,224,1791 • 795 1896...... 27 3,805,000 3, 353, 797, 076 651,144,8551 584 GOLD AND SILVER. 5,851,500 3, 563, 408, 054 632, 153, 042 .926 1,200, 000 3, 977, 675,445 622,016,7451 .193 !!!::::::::::::::::::/ :~ 850,000 4, 708, 833, 905 604, 865, 327 .141 Domestic gold receipts at the mint declined in 1goij •••••••••••••••••• 6 1,800,000 4. 944,165, 624 621. 536, 461 1 290 1gij1 •••••..••••••••••• 11 1, 760, 000 5, 675, 910,043 645, 719, 099 :273 January, but were larger than a year ago. Imports 1002 •••••••••••••••••• 2 450,000 6, 008, 754, 976 701' 990, 554 l of gold increased over both the previous month and 1903 •••••••.•••••••••• 12 3, 480, 000 6, 286, 935, 100 743, 506, 048 I :m 190' •••••••.••••••.••• 20 1, 535,000 6,655,988,687 767,378,148 200 I a year ago, while exports were less in January than 1905 ••••••••••••••••.. 1 ·22 2,035,000 7,327,805,875 791,567,231 ,. • 257 1906 •••.•••••••••••••• 8 680,000 7' 784, 228, 113 826, 129, 785 .082 in either the preceding month or January, 1923 . 7 775,000 8,476,501,435 883,690,9171 .088 ~:: :::::::::::::::::I 24 6,560,000 8, 714, 064, 400 919, 100, 850 • 714 Silver production increased in January, but was 1909 ••••.•••.•..•••••• 9 768,500 9, 471, 732, 663 937, 004,036 I .082 less than a year ago. Both imports and exports of 1910 •••••••••••••.•••• 6 875,000 9, 896, 624, 697 989, 567. 1141 .088 1911 •••••••••••••••••• 3 275,000 10,383,048,694 1, 019,633,152 .027 silver, ·although greater than a year ago, registered 191~ •••••••••...•••••. 8 1,100,000 10,861, 763, 877 I, 033, 570, 675 . 106 1913 •••••••••••••••••• 6 4,350,000 11,036, 919, 757 I, 056, 919, 792 .412 1 declines in January from the preceding month . 1914 ••••.•.•••..•••••. 21 1,810,000 11, 482,190, 771 I, 058, 192, 335 i .171 I Prices of silver at New York declined, while at London 1915 •••••••••••••.•••• 14 1,830,000 11,795, 685, 157 1, 068, 519, 105 i .171 1916 ••.••••••••••••••. 13 805,000 13, 926, 868, 000 1, 966, 049, 000 'I .076 the price registered an increase. 1917 ········-········· 7 1,230,000 16,151,040,000 1,082, 779,000' .114 1918 •••••••••••••••.•• 2 250,000 I7. 839, 502, 000 I, 098, 556, 000 I .023 '1919 ...... 1 25,000 20, 799, 550,000 1, H8, 603, ooo 002 FOREIGN EXCHANGE AND TRADE. 1920 •.••••••••.••••••• 5 205,000 22,196,737,000 1,224,166,000 .017 1921 •.•••.••••••••..•• 34 1,870,000 19,638,446,000 I,273,880,000 i .147 1922 •••••••••••••••••. 3I 2,015,000 20, 706,GIO,OOO 1,307,2I6,000 I .157 Foreign exchange rates in general averaged low?r 1923 ..•••••••••••..••• 52 3,205,000 21,5n, 766,000 1,328,891,000 1 .243 in January, advances, however, being registered m 'As compiled from reports of the Comptroller of the Currency. the exchange on Brazil and Argentina. The general index at 59 may be compared with 60 for December On page 23 is given a drawing based upon the fig­ and 68 a year ago. ures in this table showing the relationship between Imports into the United States increased 4 per ~ent national bank failures and wholesale prices for more in January, but the total merchandise imported smce than half a century. July, 1923, amounting to $2,000,000,000, w~ 1 per Dividend payments in February were almost 3 per cent less than the value of imports for the corre- cent greater than a year ago, all classes. of corpora­ . sponding period of last year. Exports from the tions-:-industrial, railroads and street railways-shar­ United States, including reexports, declined 8 re: ing in the general increase in disbursements over Feb­ cent from December, but for the seven months endm., ruary of last year. New incorporations and new January the value of goods exported, amountmg· to capital issues declined in January both as respects the $2,618,000,000, represented an increase of 12 rer cen;t prev~ous month and January a year ago...... ov~r th~ s~me period a year ago~ 'COMPARISON OF WHOLESALE PRICES AND NATIONAL BANK FAILURES 1870-1923.

"240 1.8 18 1893/'1 c220 1-0 lor-----'-r------+------+------+---~l--+------+------+------+------4-----~~----4 ~ PER CENT FAILED ~ITAL_TO TOTAL-"! J -210 1.4 14r------r------+------+------+---~·~+------+------+------+------+-----~·-----~ r. WHOLESALE PRICES_ 1 ·IU 1.8 •ar------r------r------+------~---Gr•'-+------+------+------+------+--~~~~-----4

·•ao ffi 1.2 ~tt------t---=----+------+-----+----J!H~I~I--+------t------+------+------+-_./'---tll------1 0 - ~.· ~ I I ~ li 18& .. 1.1 . j ll!------t------+-----+----+----l~-1-----~-----+------+----t---lt----t+------i ~ 8 .,. .. ~ I il= CAPITAL OF INSOLVENT BANKS ~ ·~ 150 ~ 1.0 ~~o ~~~~I------+------'I------+------Ji---11----HI-::.#---f m ~ 3 .....,.- ·~ z :! I I .... ,897 z 1a5 -! o.a I s'-----+------t-----+------l---llf-ll--l---llr---I------+------JI-----+--+-----1f----'---! ·~:~ :a ~ I ·, I! ~ -~ ~ ~ I ! 1891) ! .! 120 !:o.e -'a'"- .- ,. •• fl ..

il23

.30 0.2 ~~ ...... 1917 f·l .... J ~ v\ ~ 1910 1911> 1920 192 6 24 FEBRUARY DATA.

The following tab l e giVes. sueh Februa;y. data as have been received- to and including------., 1924.

1921 Febru- 1------1 Febru­ !TEll, ary, !TEll. ary, January. Febru- 1923. Febru­ 1923. January ary. ------~--~-\--11------~---~- FOREIGN EXCll.\.XGE. Rk-e: · 'II thous of bbls 1,076 Receipts at 101 s •. ,------·-·-- · fib" .. 580 4. 26 4 Shipments fro~ !Dills .... ------.thons. 0flho •. 110,488 92 65.5 I ", 392178 Europe:Englan

I NONFERROUS MET.\I.S. U.S. interest-bearing debt ...... m!lls. of dolls .. j · 21,577 21,520 22,368 Gross debt ...... rutlls. of dolls .. , 21,843 Zinc: lb 21,782 22,717 Receipts at St. Louis ...... thous. or s .. 25,974 22,834 11,096 Customs rcce!pts ...... thous. of dolls ..I 40,019 50,207 48,311 14, Ill Ordinary rece1pts ...... thous. of dolls .. , 183,307 Shipments from St. Louis ...... tbous. of lbs .. 17,022 19.168 Total t•xpcnditurcs c!Jargeablc against 205,f07 197,517 Lead: ordinary receipts ...... thous. of dolls .. Receipts ut St. Louis ...... thous. oflbs •• 12,150 11,301 11,792 208,432 244,276 Shipments from St. Louis ...... thous. o!lbs .. 7,451 7,688 5,402 IH!>OKI!>OG AND FINANCE. AUTOMOBILES. Dank clPuring$: Shipments: New York Citr ...... mills. of dolls .. 18,120 By railroad ...... ______.. carload .• 49,219 36,165 Outside New York City_ ...... mills. of dolls .. 16,784 46,359 43,613 Feclrml re.Cr\'e hanks: 14,713 13,375 Dri\'eways_ ...... number of machines •. 40,971\ 48,300 Dy hoat ...... number of machines .. 1,018 1,100 882 T9tnl i!•vestmcnts ...... mjlls. or dolls .. 393 419 571 Dills rhscounterL ...... m!lls. of dolls.. 522 532 596 Xotrs in circulution ...... mills. of dolls.. 2, 023 2,022 2, 247 BUILDING AND CONSTRUCTION. Total rrscr\'es ...... mills. of dolls.. 1 3, 263 3,230 3, 202 Contracts awarded (27 States): Total deposits...... mills. of dolls.. 1,991 1,986 1,952 Business buildings ...... thous. of sq. ft .. 6,650 7,951 7,0t4 Hcserve ratio ...... per cent.. 81.3 80.6 76.2 Industrial buildings .... ~ .. , .....thous. of sq. ft.- 3,029 3,787 5,096 ~!ember banks: 1 Residential buildings ...... thous. of sq. ft.. 28,037 22, 66S Total loans and d!scounts ...... mi!ls. of dolls.. 11,884 1(8741 11,639 Educational buildings ...... thous. o! sq. ft .. 34,693 3,992 'rota! !nvcstm,942 40,628 Production ...... l\1 ft. b. m.. 37,552 !;toe·~~a~Jllt1es sa cs ...... thous. of shares.. 27,762 20,637 22,694 Sht'pments . • '1 tt b m 41,720 36,347 33,702 Stock pril'Ps: ------·------·•• • · •• 46,406 42,883 ~ in!lnstrials ...... dolls. per share.. 112.14 111.83 115. oo Lath- ,. 2S raiiroads ...... dolls. per share.. 60.35 co. 47 65. 28sP~o! dnctiotsn ...... M fft. m .. 8,899 9,671 g- 8,979 10,845 S1h·cr· pmcn ...... l\1 t. . m .. 9,106 12,105 l';it-e at York d 11 5 fi Com:Jfoslte lumber prices (1st of following mo.)- ~ew 48-52 1 Price at London __ _-_-_-_-_-_-_-pence 33: 3o: 45-30 ~r ~t~i:'da~~ ~~:: ~~ aa;~: ~~ so'l~!:gg~_:::::::::::::::~~Jl~: g:~ ~~ H: ~: ::: ~i ~ 32.36 36.12 Data in r'chruary column ns of ; January, 192·1, and February, 1923, represent the Condition at th~ end or th& respective months. 25 FEBRUARY DATA-Continued.

-··---·· -- 19U 192! Febru- !TEl!. l'ehru· ary, ITEM:. ------Febru- 1923. nrr. January. ary. Fchru· 111~3. Jnnuary. nry.

------·--·------· ----~--- CEMENT. WHOLESALE PRICES-Contlnne

1 --·-·· EXPLANATION. ·----~:axim~ IMinlmu:-, -~~Z2 . 1923 1'1, 1923 1924 I Per cent Increase (+) or ' All index numbers are relative to 1919 as!OO, excep! since Jan. since Jan. decrease (-), 1

prices which are relative to 1913, and unjilltd 1, 1920. 1 1, 1920. December. ___Jan_uar_y. !1 1_o_c_t___ ober. _,November.,_ December. _January. Jan. from Dec. 1 o~~'~'·-~~ch are relative to mo. _ .. __J ______1 _ 11 I 1 . . 11----- 11 1 jj PRODUCTION. 'i

RAW MATERIALS, totaL __ 157 73 128 116 157 141 129 108 liil -16.3 MINERALS: \1 Petroleum ______-- 209 105 159 165 212 206 1 187 179 -4.3 Bituminous coaL ______137 41 120 129 127 111 ' 119 131 !I +10.1 Anthracite coaL ______121 0 115 119 119 106 109 108 -0.9 Iron ore* ______241 0 194 123 0 0 i 0 Copper ______124 98 105 124 119 121 124 ! +2. 5 Lead ______156 741~ I 132 I 137 132 132 129 I --- i33- -:~---- -+s.- i"- Zinc------1 133 38 123 111 117 1 123 131 57 I 10884 I 71 91 110 I 92 76 I -17.4 145 80 107 110 115 104 i 101 111 i +9. 9 ~~~~~ ~ ~ =TotaL======______======I i 154 117 124 152 136 125 128 ' +2. 4 ANIMAL PRODUCTS (marketings); I Wool 227 :: ,I 44 38 24 46 I 87 66 1 -24.1 cattle-&;

EXPLANATION. 1922 I 192 I AU 'nlk mb 1 t' Maximum Minimum 3 I 1923 1924 Per t"eur 1 x nu era are rea •ve to 1919 aa 100, except since Jan. since •·H. I I incrt•aso ( +) or i price1 which are relative to 1918, and unfilled •~ ~ --·- 1 dccrc,\.'\0 (-), I 1, 1920. 1, 1920. ---·---,·---·---- orderB, which are relative to t9SO. J!lllunry. Jan. from D~r. I l----l!,~.~mber. ~~ _~c~~be~~- ~o:::::J December. i-----1 1 PRODUCTION~Continued. I · • ' I i II ' FoRES'l'Lumber PRODUC'l'S: ______Pulpwood ______133 59 ,I 9± lOR \i 131 128 99 2107 +8.1 135 I 96 I 90 1 121 +34. 4 Gum (rosin and turpentine) ___ ~ l1 267 g5 It 1~~ g~ 1: I ~~~ 185 201 94 -53.2 Distilled wood ______151 TotaL ______: 24 11 149 151 il 106 116 98 100 +2. 0 135 61 98 107 ·I 2 132 2 119 2 102 2JQ8 +5. 9 MANUFACTURING: - Foodstuffs- I! ! Meats ______: )! 132 75 i' 125 123 us 128 132 I 137 +3.8 Wheat flour---~-. _____ . ___ : 126 64 ;; 100 91 il 113 104 97 I 97 0. 0 Sugar ______i 178 40 70 118 89 61 66 +8. 2 Ice cream ______' 260 41 48 I 90 I 65 1 I 56 Butter______~~ ·i 55 +I. 8 --1 207 64 96 104 II I 115 I 100 1 102 1 105 . +2.9 Cheese ___ ------____ ---~ 169 41 59 54 I 117 I 100 I 8{) I 9Q +4. 7 Condensed milk ______122 20 53 I 75 I 60 I 62 I OS +9. 7 Glucose and starch ______=1 135 38 84 119 103 105 125 +19. 0 Oleomargarine_:______j 122 29 69 !i 73 I 90 1 ()2 I 75 +2.1 Rice ______.· 233 35 154 ~~ 158 202 134 181 +35. 1 10636 it 2 2 TotaL ______1 116 77 101 1 z 107 106 2 106 111 +4. 7 Textiles- 1 ;I Cotton (consumption) ______I 127 60 107 124 110 108 94 117 +24. 5 Wool (consumption) ______1 138 42 127 138 :I 113 109 99 117 +15. 2 TotaL __ ---- ______130 54 114 129 I! 111 108 95 117 +22. 1 Iron and steel- 1 II 152 34 121 124 114 115 119 +3. 5 §!gee ~r~>n- Ingots- - ______------I _ 149 33 118 126 111 101 128 +26. 7 Locomotives ______150 9 94 139 134 148 68 i -54.1 TotaL ______147 32 117 127 113 106 124 +17. 0 Lumber- Lumber ______135 59 94 108 131 119 99 108 +9.1 Flooring ______232 51 184 207 206 211 187 200 +7. 0 136 115 124 +7.8 Leather- TotaL ___ -.------~ 150 57 110 125 145 Sole leather______95 63 76 88 79 73 69 I 75 +8. 7 Boots and shoes ______. __ _ 130 82 101 111 111 98 82 96 +17.1 TotaL______I 115 63 91 102 99 88 77 I 84 +9. 1 Paper and printing- i TotaL______121 69 104 111 107 105 103 112 +S. 7 1 Chemicals, etc.- i Coke ______------~- __ .. ___ .i 140. 40 117 124 H9 110 110 115 +4.. 5 Petroleum products ______-l 163 96 152 155 163 162 168 168 0. 0 4 118 122 162 152 108 102 -5.6 Cottonseed oil*_------___ - . 188 -52.9 Turpentine and rosin* ______269 21 269 1 102 213 107 204 96 82 93 +13.4 Wood distillation-----~---- · ll8 21 118 88 100 117 I 147 150 144 -3.3 TotaL ___ -----_-----1 157 I 92 148 l 142 157 Stone, clay, and glass- 1 Brick ______~ ______124 53 111 90 78 67 79 +17. 9 102 1 86 I 83 Glass bottles ______- __ - - - - - 124. 48 73 I 80 86 200 61 129. 115 l 199 188 149 131 -12.1 Ceruent*------2 2 101 +7.4 126 69 97 1oo I 116 109 94 M etals, exc'I¢~~~i;;n ~;;'iste;,;:_ -~ · Copper smelting and refin- 1 II ing ______. 23 80 84 103 98 99 100 +1.0 126 +6. 6 Zinc smelting and refining_ 130 38 112 I 121 110 116 122 130 228 223 239 +7. 2 Enamel ware _____ ~-_------· 275 86 197 212 i! 275 137 135 132 129 Lead------~------156 79 132 TotaL ______------· 176 71 139 148 176 157 156 168 +7. 7 I Tobacco-­ I Manufactured tobacco and I 74 108 +45. 9 · snuff ______--_------119 50 105 103 95 g!gars ______, 9575 I. 95 121 91 83 86 +3. {j 128 75 141 +41. Igarettes ___ ------___ _ 147 64 so 121 142 147 100 a TotaL ______------125 70 85 107 I 125 . 113 88 111 +26. 1 Miscellaneous- , 5 2 11 3 -72.7 . Ship b U1'ld" !Dg ______. - - I 79 2 12 4 I -1 I 190 184 192 +4.3 Automobiles. ___ ------: 239 29 139 148 222 221 . 20 134 · I 159 112 107 115 115 0. 0 Rubber tires. __ -.-.--~--- _i 124 98 I 94 -4.1 i · 163 58 94 I 92 145 Prepared roofing._------96 113 99 101 2127 +25. 7 145 37 90 1 2 2 3 121 ~ 111 104 120 +15. 4 Grand tot~;~~-~o~ni~l~dlti~;~==! · 133 68 106 ' 115 I 153 98 142 147 153 149 153 160 +4.6 ~LECTIUCAL POWER------; 83 116 111 102 107 +4.9 UILDING CONSTRUCTION (total)*--: 139 30 83 .~--~--~~--~-----L----~----~----~----~--.~~------• Fluctuations between maximum and minimum l:.ugely due to seasonal varlatlolll. 1 Estimated. : Partly estimated. Ianuary, 11l20; no other ligures for !920 available. 28 INDEXES OF BUSINESS-Continued.

1923 1924 EXPLANATION. 1922 1923 Percent Maximum Minimum increase (+) or Allindn numbm are re!alwt to 19191U tOO, uupt since J"an. since 1a.n. decrease(-), 1, 1920. 1an. from Dec. prices which are relative to 191~. and unfilled 1, 1920. December. 1anuary. October. November., December. 1a.nuary. orders, which are relative to 19W. l

STOCKS. 152 84 125 126 127 132 136 132 -2.9 TotaLRaw ___ foodstuffs ---_------______281 70 161 175 120 133 147 148 +0.7 69 143 123 168 161 149 134 -10.0 Raw materials for manufacture._ 177 76 0.0 Manufactured foodstuffs ... ----- 115 56 72 73 80 77 76 Manufactured commodities._--_ 159 89 120 122 141 153 159 156 -1.9 UNFILLED ORDERS. 62 +6. 9 Total (based on 1920=100)------116 40 75 85 54 53 58 WHOLESALE TRADE. (Value.) 101 90 90 0. 0 ShoesHardw'are ______- _------117 58 84 89 117 78 39 58 57 75 59 48 48 0. 0 Dry goods ______123 64 70 101 123 90 66 96 +45. 5 Groceries ____ ------99 62 76 75 98 93 75 79 +5.3 Drugs ______129 88 99 113 129 111 102 116 +13. 7 73 43 57 58 73 62 62 66 +6. 5 Meat packing._------79 +11.3 TotaL ... ------~--- 98 62 71 77 98 84 71 RETAIL TRADE. (Value.) MAIL-ORDER HOUSES (4 houses) ... 134 49 109 89 134 122 118 99 -16.1 CHAIN STORES: Ten-cent (5 chains) ______331 84 279 115 180 176 331 126 -61.9 Music (4 chains) ______214 55 204 95 137 149 214 84 -60.7 Grocery (32 chains) ______190 117 166 165 191 187 187 191 +2.1 Drug (10 chains) ______185 109 162 129 152 141 185 119 -35.7 Cigar (3 chains) ______----___ 192 106 179 116 138 134 192 119 -38.0 Shoe (6 chains) ______----- 171 72 162 86 139 131 171 99 -42.1 DEPARTMENT STORES: Sales (333 stores) ______202 80 189 101 148 142 203 I 109 -46.3 Stocks (286 stores)------154 101 109 107 146 149 123 115 -6.5

PRICE INDEX NUMBERS. I (All price lnde.s numbers relative to 1913.) I FARM PRICES: I Crops (15th of month) ______309 97 123 126 139 137 137 140 +2.2 Livestock (15th of month) ____ 181 91 104 106 103 97 94 I 97 +3. 2 WHOLESALE PRICEs: ' Department of Labor- -0.7 Food,Farm productsetc ______------243 114 145 143 144 146 145 144 I 248 131 144 141 148 148 147 143 -2.7 Cloths and clothing_----- 346 171 194 196 199 201 203 200 -1.5 Fuel and lighting ______281 178 216 218 172 167 162 169 +4.3 Metals and metal products 203 109 131 133 142 141 142 142 0. 0 Building materiaL ______300 +1.7 Chemicals. ______155 185 188 182 181 178 181 213 121 130 131 129 130 130 132 +1. 5 House-furnishing goods. __ 275 173 0. 0 Miscellaneous ______182 184 183 176 176 176 208 114 122 124 120 118 116 117 +0.9 All commodities __ ------248 138 156 156 153 152 151 151 0. 0 Federal Reserve Board (Depart- ment of Labor prices)- Total raw products ______249 135 167 168 155 154 153 155 +1. 3 Agricultural products. 311 122 161 164 172 179 181 180 -0.6 Animal products _____ 218 103 128 125 122 115 115 115 0. 0 Forest products ______375 152 210 215 197 196 191 194 +1. 6 Mineral products ____ 272 168 +3.0 Producers' goods ______208 213 171 165 165 170 244 118 135 136 139 138 136 136 o. 0 Consumers' goods ______249 -1.3 All commodities ______146 157 155 159 159 158 156 247 138 156 156 153 151 0. 0 Federal Reserve Board Index- 152 151 Goods imported. __ ------246 102 137 139 150 147 148 144 -2.7 Goods exported ______272 125 174 -1.5 All commodities ___ 180 181 196 199 196 267 142 165 166 163 163 163 163 0. 0 Dun's (1st of following~~~)~~= 218 134 153 154 158 +0.6 Bradstreet's (1st of following 158 158 157 month) ------227 115 149 149 143 146 144 I 143 -0.7- 29 INDEXES OF BUSINESS-Continued.

EXPLANATION. ' 1922 1923 1923 Maximum Minimum lH2.J. I rcr ('('Ut All Index numbers are relative to 1919 as tOO, except since Jan. since Jan. "----l---~ll----.----.---l----ll lncrra.sc ( +) or prices which are relative to 1913, and unfilled 1 1920 1 1920 " decrcnso (-), order&, which are relative to 1920. ' • ' ' DeCember. Janunry. October. November. December. Jununry. Jnn. from Dec.

PRICE INDEX NUMBERS­ Continued.

RETAIL PRICES, FOOD~------219 139 147 144 150 151 150 149 -0.7 CosT OF LIVING, National Industrial ConferenceFood ______Board: _ Shelter ___ ·______219 139 147 144 150 151 150 149 -0.7 Clothing______175 143 167 167 175 180 180 180 0. 0 288 153 156 160 176 174 175 176 +O. 6 Fuel and light ______200 149 187 187 178 176 176 175 -1.0 Sundries ______192 171 171 171 173 174 174 174 0.0 All items weighted ______205 155 159 158 164 165 165 165 0. 0 FOREIGN WHOLESALE PRICES: United IGngdom- British Board Trade ____ _ 333 154 156 157 158 161 163 165 +1. 2 London Economist ______310 155 158 161 160 169 170 173 +1.8 l U.S. Fed. Res. Bd ______340 163 164 165 166 171 177 178 +0.6 France-- Gen. Stat. Bureau ______. 588 306 362 387 421 443 . 459 ------;,-· U.S. Fed. Res. Bd ______537 337 346 409 420 426 439 +3.1 · Italy (Baehi) ______670 283504 I 580 575 563 571 577 571 +1. 0 Sweden ______366 154 155 156 153 151 150 152 +1.3 Switzerland ______--_-_ 2 326 160 170 175 182 183 183 183 0. 0 Canada- Canadian Dept. Labor __ _ 263 .162 165 165 163 164 164 164 i 0. 0 U.S. Fed. Res. Bd ______279 144 147 148 147 145 144 146 ' +1. 4 Australia ______------236 146 161 163 171 173 174 ------1------India (Calcutta)~- ______218 170 176 179 174 111 179 112 1 -3. 9 Japan- Bank of Japan ______. 4 321 183 183 184 212 209 210 211 ! +O. 5 U.S. Fed. Res. Bd ______313 171 173 176 ------Jj------

• Partly estimated. • Since January, 1921. 30 TREND OF BUSINESS MOVEMENTS.

The following table contains a summary of the monthly figures, ~esigned ~o sho>y .the .trend in important industrial aud com­ mercial movements. The numerical data for the latest months are giVen and m additiOn mdex numbers for the last four months and for two corresponding months of a vear ago. In many lines the figures do not lend themselves readily to statistical uniformity due to lateness of their publication or' publication at other than monthly intervals; therefore the following explanations of th~ various headings are offered to make .clear such distinctions and in general ~o facilitate the usc of the table: . December, 1928.-This column gives the December figures correspondmg to those for January shown m the next column­ in other words, cover the previous month. January, 1924.-In this column are given the figures covering the month of January, or, as in the case of stocks, etc., the situation on January 31 or February 1. Corresponding month, December, 1922, or Jamtary, 1928.-The figures in this column present the situation exactly a year pre­ vious to those in the "January, 1924," column (that is, generally January, 1923), but where no figures are available for January, 1924, the December, 1922, figures have been inserted in this column for comparison with the December, 1923, figures. . . · Cumulative total from July 1 through latest month.-These columns set forth, for those Items t.hat properly can be cumulated, the cumulative totals for the seven months ending January, 1923 and 1924,respectively, except where the January, 1924, figures are lacking in which case the cumulative totals for the last six months of 1922 and 1923 are given. Percentage increase ( +) or decrease ( -) cumulative, 1923-24 from 1922-28.-This column shows the per cent by which the cumulated total for the seven months ending January, 1924, is greater ( +) or less (-) than the total for the correspond- ing period ended January, 1923. · Base year or period.-For purposes of comparison with a previous more or less normal period, all items, so far as possible. are related to such a period by index numbers. The period taken for each item, called the base, is the monthly average of the year or period stated in this column. Wherever possible, the year 1913 is taken as a base, and if no pre-war figures are available, 1919 is usually taken to avoid using a war year as a basis. In some cases it will be noted that figures were not available prior to 1920 or even 1921, and that sometimes a month, or an average of a few months, has to be used rather than a year's average. Also, for some industries, 1919 would not be a proper base on account of extraordinary conditions in the industry and therefore some more representative year has been chosen. Index numbers.-In order to visualize the trend of each movement, index or relative numbers are given for the last four months and for two cor~esponding months of a year ago. These index numbers are computed by allowing the monthly average for ~he base per10d,. usually 1913 or 1919, to equal 100. I~ the movep:tent for a current month is greater than the base the mdex number w11l be greater than 100. If the converse IS true the mdex number will be less than 100. The difference between 100 and any index number gives at once the per cent increase or decrease compared with the base period. Index numbe~s may also be used to compute the approximate per cent increase or decrease from one month to the next. Percentage ~ncrease ( +) or decrease (-) January from December.-The last column shows the per cent increase or decrease of the figure for the last month compared with t,!Ie preceding month.

NoTE.-Items marked with an asterisk (*) NUMERICAL DATA.- -\1 Per I[ - INDEX NUMBERS. II Per, have not been published previously In the 11 cent I t -BuR~EY or are repe~ted for Sjleclal reasons; · ·--·~-.------::~---~~------·ilincrease: I ceo detailedtablescovermgbackflguresforthese " Co rc : CUMUJ.ATlVE TO'£AL "I <+> 1~ . • 1' In· 1 1 itcmswlllbcfoundattheendofthisbulletin. '' 8 '~u· i FROM 1ULY 1 or de-,'[ BASE li I I crease 1 For detailed tables covering other items, see I l:. ~c:ht~g I' THROUGH. LATEST '. , crease 1 YEAR :.' 1922 192:! 11124 I <+> iastquarterlyissueoftbeSUlt\'EY(No.30). D~c;m- January, I; Decem~ 11 MONTH. 1: (-) · OR il ,::; ~ .. q • 1924 '' ber P-- --·--~- ___ ,. cumu- 1 PI>RIOn .. , I ( ) n many caee• rebruarg figure• are 19-8 . · 1.1 ' '/ i' jlative -·- ' T----1 · -,----, - now available and mag be found in the ,I 1922• or '1923-21' · I Jan. 18 I . •JH!clal table on page U. ii f9~~y, 11922-23 i 11123-2* !, from : , Dec., Jan. I Oct. INov.: Dec.,Jan.li i: --- -· --- _l __; ___ :i - I ; 111922-23. i " I 'i I I i . TEXTILES. I i . !: )--~------·--- --~:--- .. - --:-~------:-,-,,- 1 ' ! . ' Wool. I I' I Receipts at .Boston: ) I' ,1 DoiD;estlc •••••••• ______thous. oflbs--i 15,511; ·11,8231 6 723 [ 103,&19 94,066 ·, '- 9.4 1 1913 32' 61 115 88 - ZJ,8 Fore•gn--·-···------·thous. oflbs __ j 4,952, 18,336 39;066 ', 171,804, 4' 618 74 0 114 a•7 +270.3 Total--·------·----··----thous. oflbs__ 20 463 · 30,159 45, 7891; ·:- • ' 1913 ~: oo: 66 27 ~ 1913 227 I II 109 161 + Imports, unmanufactured. _____ ,thous. oflbs 11;797! 30, 786 56, 313 1 5,654 138,684 ·- 49.7 ~i~ •o I 62 .7.. Consumption by textile miUs, ·- , ! 250, 323 93, 558 , - 62. 6 1913 3(j2; 44.'i . 76. 78 93- 243 +161.0 1 greh~equivl!le,nt •• ______thous. oflbs __ 1 45,4.52; 53,8·15 i 63 348 >i 403 323 34" 1 537 15 1 1921 I 132) I' +18.6 Mac mery actlvtty hourly: 1 ; 1 ' I' ' .., - · 14-1 11 117 114 103 : 122 Looms,wide ______perct.ofhoursactive_ _l 71.2 72.81 86.711 I' 123 : 112 + :z.g Looms, narrow ·---Per ct. of hours active .. ! 65.9 67.3 83. 7 ·~---·------.-·-··-' ------· 1921 I. 126 i' Ill : 103 ' 106 Looms, 1 1 1 ·-·--·--·------·------.:-----·-- 1921 ,, Jt.S , 116 116 103 ' 105 +1.0 1 ml carpetandrng___ perct.ofhoursactive•• ' 71.4 75.0 I, 86.3 1 / i 146 + 6.0 Sets of cards. ______per ct. of hours active __ / 87.4 . 87. 1 il 9- j'i---·-·------·-·-----·:1-·-·--·- . 1921 i 162 I !liS ~ 164 165 1 1 132 130 ! 130 122 0.0 Co!l'bs ____ :---··--per ct. of hours active__ 83.3 ·'1 89. 6 ·,',I •1oa' 0 ,------·------; -----·-- 1921 i 133 Spmning spmdles- : · q·------·-- ---·------;~·-----·- 1921 116 116 97 i 96 }~93 i' 101 I+ 8. 6 Woolen ______perct.ofhoursactive•• l 80.7. 86.411 91 5 1i , r I Worsted,. _____ pcr ct. of hours active __ [ 74.2 : 72.8 ;, 95' ii--·------·- ----·-·---·1 ------; 1921 126 12i 122 ' 123 112 120 '+ 7.1 4 91 gg,-2.2 MncfJ~~f:nactlv1ty (no. or machines): I 1· · f(·------~-·------··-: 1 ---·-·--.: 1921 120 116 106. 101 .•.• ____ per ct. of activo to totaL 81 81 85 lllla wscfr~~~~cs :,1 iL--·------______t______llfl !10 . 109 106 1051 o.o 1 ~pindlcs. ______per ct. of active to totaL/ 77 : 1 :1 ool- u Wtde looms•••..• per ct. ofactive to totaL. 73 ~~ 'it ~ ~~------·----,-- .. -----·-,:-·---·-- 1913 122 : 114 . Ill UH Narrow looms ____ per ct. ofact!ve to total._ 79 ; Bl I 8~ .. -·-·--···-· ·-·-··---.. :1-·-··-·- 1913 109120 I 109 . 104 ; 104 99 P Carpet looms ____ per ct. of active to total 86 · 82 ; 86 p·-·--·--·-· --- .. ·-·---"------11113 114 118 111 . 110 108 ~n 1+ ~~ ri':r~w, Ohio, -- I ~~------,----- ... --.;J------·· 191 ~ 12r. I 121i : 127 126 126 121 - 4.0 ! R t bloot d !IDWashed ______dolls. per lb._ • 51 . 52 i ..S1 l,l... .. • .: aw, emtory fine, · ' .. --·1··------·'l-·-.... - 1913 201 185 1 19:.! Wscoured ••• ______dolis. per lb.. 1. 34 . 1.37 1: 1. 44 :: · 'i wor~teg yarn______dolls. per lb_. I. 650 · 1. 700 i: 1 700 ,. ----··----+--·-··----.:----·-·- 1913 246 253 ·· 228 I 228 I 235 :1: :: 00,o ~ goods ______dolls. per yd._ 1.035 I 1.035 '' · 9 :··-·--··---:--·--·-·--·>---·--- 1913 212 219' 212 212 ' 212 ~tenssuitmgs ______dolls. peryL 3. 690 / a. 690 !! a:4~ L::::::::::::::: ::::: '::: ---·- 1013 169 169 . 184 ' 1St ! 184 m1j+ ~g 1913 221 221 ; 239 . 2311 ' 239 2391 0.0 Overtime was reported sufliclent to otlset all idle hours and leave an e~cesa, -.-.- 31 TREND OF BUSINESS MOVEMENTS-Continued.

NOTE.-Items marked with an asterisk (*) NUMERIOAL DATA. iin;~:J .•.•• ---~~~:;~~~~~~~~--- ~~t have not been published previously In the SURVEY or are repeated for special reasons: 1 detailed tables covering back figures for these Corre· CUMULATIVE TOTAL 1 <+> I 'I in· items wW be found at the end of this bulletin. sponding FROM lULY 1 1 or de- BASE i1 ~ crensll For detailed tables covering other items, see I month, THROUGH LATEST · crease YEAR 1! 102. 1D23 , 19~4 (+) Decem­ last quarterly issue of the SURVEY (No. 30). January, Decem- l!ONTH. (-) OR 'i 1 I g;c~~ ber, 1924. In manu ca&e• February ligures are 1928. I9~~~'or I I ~~ FERIOD. :j--~-~-. --~------~--!- --- J;;-J. now· a11ailable and may be found in the 1 epecial table on page %4. I Ja~~ry,ll922-23• 1928-24 from22- . ;;: D ec. I[ .J an. 0 ct • 1 N ov. D cc. / J nn. i' fromDec. 19 23 1 __, __ --~-----~---1------'!-j------,-[ .. ~-- TEXTILES-Continued. 1

1 Ginnings ______~~~~~~~---thous. of bales j I 19,948 2 9,648 I 1· I i I ' • : '+ 1 Receipts Into slght. •••••••••••thous. of bales-- ·--. 4·-' -·iu" --i77-- 4• 1 s.. h --··r707· 896 872 ···:9,;203 1--- • ·9,; 4~-- +_-- -2·.~ """ i9--1 a--· ·~-- i~r~-- -7~- f,. --~~- 2--~ -- -7• +- 4~ :. Imports, unmanuractured ...... bales:: 35' 601 47,693 105,215 ,., 8 406 1 23 ., 7 55 5 1 9 13 3 00 5 1 s 37 82 7 2 5 3 4 0 Exports, unmanufactured ' I 8 5 3 (mel. llnters)------···--bales 845,581 546,253 473,436 3, 753,230 4, 048,877 + 1. 9 1913 1' 84 65 108 106 116 75 - 35. 4 ~t:J.~fnt~o~f ~o~~~~e mllls ...... bales:: 461,560 576,644 610,306 3, 730, 977. 3, 549,770 + 4. 9 1913 1 114 131 116 !14 ll9 124 + 21.11 5,202 6,293 1,633 1,988 2,966 3,486 =~~1j~:~5: gji:: t5 602 919 :=::::::::: :::: :=:~:: :=::::::1! !Ill I ~ I ~ ~ 1' ~ ~ ~~ U! Amerlcan______thous. of bales.. 3, 405 3,030 3,359 ,· 1913 123 109 nn I 104 110 98 - u.o M anuractured goods: ------, "" Cottonclothexports.... thous. of sq. yds.. 34,824 ·28,444 38,893 338,787 252,236 - 25.5[1 11913 112 105 121 100 94 77 - 18.3 Fabric consumption. by tire mfrs •• ------thous. of lbs 8, 387 11,706 10,997 69 332 58 134 - 16 2 ' 1921 142 164 126 119 125 175 + 39.6 b 77 68 60 ...... Fln~~i~;~~~~n(N~-is:BeiifiirJ~o~ri~~f:ds:: 8,752 14,260 89;352 63;311 -29:1.1 1919 97 100 ' ·-·-·& ~!J'duction ...... pieces.. 448, 701 464,408 401,786 2, 823,678 3, 067,753 + 8. 3 · 1919 114 105 116 !20 117 121 + 3.h Cotton~iiishlngi'···------·-·------Pieces.. Zl1, 549 250,360 556,440 2, 998,959 2, 346, 127 - 21.8 : 1919 88 125 73 88 61 M 7.8 Orders received, grey yardage- I White goods ...... thous. of yds.. 34,738 32,569 39,404 262,142 103 \17 6.2 Dyed goods ...... thous. or yds •• 30,561 37,143 44,992 276,364 10! 1!17 + 21.5 Printed goods ••••••••••thous. of yds•• 7,282 9,368 16,052 96,179 I 47 60 + 28.6 TotaL ...... thous. of yds•• 81,041 86,888 111,130 708,868 90 116 + 7.2 Billin~ finished goods (as produced)­ W te goods ••••••••••••thous. or yds ... 38,499 36,735 Dyed goods ••••••••••••• thous. of yds•• 36,931 35,389 Printed goods ...... thous. of yds •• 9,323 8,682 Total...... thous. of yds •• 94,824 92,714 Shipments, finished goods­ White goods ••••.••••••••••••••• cases •• 16,903 19,651 Dyed goods •.•••••••••••••...•••cases •• 8,518 9,411 ¥r~ted goods ...... cases •. 1, 711 1,830 54,291 Stock~ fuiiSlie(igiiQ(is'::.:-·····--- -- ..eases •• 46,586 White goods ...... ___ ••• cases •• 11,790 11,554 Dyed goods ••••••••••••••••••..•cases •. 8,271 8,332 Printed goods. ·-··------·-cases•• 2,376 2,386 49,606 48,007 , ohveia~~iiiciiviiY.:::p-iiooiit"iirC3!i:f~:: 63 74 •• 1ac mery activity of spindles: ~ctlve spindles•••••••••• ___ •••thousands •• 34,045 33,340 otal actlvlty...... mllllons of hours •• 7,139 8,448 ~ctlvity per splndle...... hours •• 100 224 PriOO:t cent of capacity •••••••••••••per cent•• 86.8 96.7 Raw cotton to producer • •.•• dolls. per lb•• .321 .325 ~aw cotton, New York•••••• dolls. per lb•• .358 .347 p o.tton yarn •••••••••••••••••dolls. per lb •• .564 .552 not cloth ••••••••••••••••••dolls. per yd •• .081 .078 010f~ing ••••••••••••••••••••dolls. per yd•• .133 .121 Men's and boys' garments cut­ Men's suits, wool. •••••••••••number.. 579,698 Men's suits, other •••••••••.• number.. 06,125 Men's separate trousers, wool •••••••••••••••••.•••••number.. 431,719 Men's separate trousers, other ••••••••••••••••••••••number.. 424,394 Men's overcoats •••••••••••••number.. 99,369 Boys' suits and separate pants••••••••••.••••••••••• number •• 504,898 Boys' overcoats and reefers ••• number •• 16,057 W ork clothlng: ~~t ••••••••••••••• _. _••••••• _••••• dozens •• 143,685 C es ••••••••••••••••••••••••••••••dozens •• 133,434 S ancellations ••••••••••• _...... dozens •• 2, 782 "nl toeks, end ofmonth ...... dozens •• 241,336 n. t underwear: ~roduction ••• _•••••••• ____ •••• _•• dozens •• 717,300 rders received ••••••••••thous. of dozens•• .1,039 Shipments.~-·--_ •••••••• ___ ••• _•• dozens .• 662,400 Cancellations ••.•• _____ •••• _••••.. dozens •• 35,100 Un1111ed orders, end of month ...... thous. of dozens •• 2,866 naw Silk. bruflorts ...... tbous. or lbs.. 5, 096 ,t 1veries (consumptlon) ...... bnles.. 23, Zl4 ~C?Cks, end of month •••• ------···--·-bale.,.. 40,959 100, Japanese, N. Y ••••••••••••dolls. per lb.. 7. 742 b December, 1922. 'Glnnlngs are crop-year cumulatlves through , 1\124 and 1\123, respectively. 'Twelve months' average, .1uly to .rune, Inclusive, ending the year indicated. • Eleven months' average .1anuary to November, inclusive. . • Figures In December 1003, and January, 1924, columns arc as of the 15th or the montu; llgt1ru In JanuMy, 11123, column IS 1\8 of February I, 19:l3. Indexes vrlor tu l>ecemller, 1923, relate to prices 119 of the first of the following month Indicated. a Relative to six months' average, July to December, inclusive. I Relative to eleven months' average, February to Docember, Inclusive, 32 TREND OF BUSINESS MOYEMENTS-Continued.

NUMERICAL DATA. Per INDEX NUMBERS. I NOTE -Items marked with an asterisk (') I have not been published previously In the ------,--~...------llin::.el ;;~ S~RVEY or nrc repeated for special reasons; in- CUMULATIVE TOTAL (+) crease detailed tables covering back figuri)S for these Corre- FROM 1ULY 1 or de- BASE 1 I items will be found at the ~nd ofth1~ bulletin. sponding TIIBOUGH LATEST crease YEAR 1922 1u2s 11121 1 <+> For detailed tables covermg other 1tems, see month, MONTI!. (-) OR 1 or de- last quarterly issue of the SuRVEY (No. 30). Decem- January, PERIOD. 1923. 192i. D~~i~- 11----.------11 ~:; ---1--~---~-~---1----- (~ In many ca•el! February figure_• are 1922, or 1923-24 I Jan. nolO available and may be found an the January, /1922-28 1923-24 from Dec. Jan. Oct. Nov. Dec. Jan ~~ special table on page U. 1923. 1922-23. ______!___ 11----1---,11-- TEXTILES-Continued. I Burlap and Fiber. Imports:Durlap ______thous. of lbs.. Fiber (unmnnufacturcd)------~long tons •• Pyroxylin coated Textiles. :: ___ · l'yroxylin sprem\. ______thous. oflbs.. ~: :r~~ -l~~~----~-~ ~-:tjl_l~l!-:--l~-~~ --~-i-~--~~---'~ ~~~ Shipments billed: . Light goods ... ------l!ncar yds.. 602,004 11 ncavy goods ...... hncar yds •• 1,080,157 Unfilled orders, end or month: . l,m: I======:::::::::::======!======I ;======Ji======i======!======:::::::::::: ======·::: ~N J,ight goods ...... hnear yds.. 533,661 420,461 '------'------, ------~1------'1------~------~------+- ~-~ Heavy goods ...---=------lincar yds.- 1, 533,549 1,946,670 I •••••••••• ------·------' -·····------~---··· •••••• ------··-·-· •••••• •••••• • Fur-Felt Hats. 1 Fur:Consumption_. ______Jbs.- 108,767 Stock, end of month ______Jbs.. 508,607 ..... , __ ------! _____ :__ i------1: -----,----- :------:--r:::: ::: :u 11 at~ormed ••• ------. ---.------·-.dozens.- 48,531 Orders booked------______dozens •• 50,346 Surplus bales, end ofmonth •••••• dozens •• 43, 121 ·; m~:~:::~::~ :: :::~:=:== ~:~:~~~~~:: ~::::==: .:~:: :~~:~: ~~ ~:::r:::= 1:::::: :: ~:= ::: =:~ : := '4 ~ ! 1\IETALS. . I I I 1- I I I Iron Ore and Pig Iron. I I . Iron ore: I : · Stocks- 140 1 I 127 111 - 12.0 138 119 - 13.7 98 93 5.6 111 117 ++ 4.7 114 118 3.4 !!1!9!1!31 1- !! M 92 + 7.4 v~~~!:~~~~~~~~~:Capacity ______long tons per day.. 105,12.51~ -~-:~~~•• •• ____ ------·-~=--~~~· ~~~-l~f i~2~1: ~1~2·;51, 118 112!~ 112 121 + 7.6

ollong·tons.. 459 -- 32,, 241 ___ 121 1 121 114 1121113 + 1\Ier~~~~tcftl~~~~-'------thous.Salcs ______thous. of long tons.. 500 ~. 239 ~+--44.20. 8--~~ 1~1• 4 ..-.v~H 76 297 186 +208.L~ 2 382 867 152 60 Shipments ...... -----tho us. oflong tons.. 424 2, 403 2, 792 + 16.24 19141 14 114 I 127 120 110 1~~ • 130 + 7•2 Untilled orders ______tbous. of long tons.. 1, 243 ___ 1914 95 1 47 97 ou 99 lf. I 88 11 + 1 1 2 1 0 1 I 1;1:5° II :: :: ' __ ·: ~-~~~~·:::~:~:-~l:: ::: ."~ ~: ____ ~:-: :::::::~---1 ::: __ ~;: ' 1;22~ 1~1°8 1 ~ ~ ~:: Mcltings ...... per cent of normal.. b 61.02 I 1 • 1 131 136 110 ------Receipts of iron ______Jong tons.. b 13,179 ------·--·--·------1922 160 132 200 168 140 ------:· Wh~l~::iiriccs:------Jong tons.. b 18,245 ::::::::::::::::::::::1:::::::: . 1922 82 91 1 uo 106 101 Foundry No. 2, 1 1 Nortbcrn. ______dolls. per long ton__ 28 77 1 1913 171 180 'I 159 148 148 151 + 1. 7 ~~~~sft~"~i~u~~~:::~:~: :~ l~~~ :g~:: ~ ~ ::::::::::: ::::::::::: :::::::: 1 1913 169 175 160 u2 142 ~M j+ H l\Ialleable castings: • ------·- 1 1913 173 177 i! 158 146 148 · ~~~~~g:k~~~:~::::::::::::::::::::ig::: :::::::::: :::::::::::::::::::::: ::::::::1111:::::::::: !::::::/::::::',. :::::: :::::: ::::::::::::'it ~g Operating actlvity..... per ct. of capacity__ ···------·------···c------,------·---- !-----T·---- ;------+ 23.1 c~~~J!;;~~~;;~:::::::::::=:: :~:::::::~ ::::::::::: :~:::::::::11;;:::::; [::::]f:::::l::::::r:::: ::;:::1:::::: :::;: it 1! I 'i I, I I . I 6 ~~~ ~~ri~g,r:roduction •..thous. ollong tons__ 3, 822 22,364 23,626 I + s. 6 !: 1913 l1 1•31 ! 141 123 113 143 \+ 26. Total bookings ______short tons.. 100,605 533,603 317,5231.--40. : jl 1151 ! 79 81 97 i++ 5 !,~-g Railroad specialtles .•••.••.••••short tons__ 47,879 243 553 113,666 i _ . : 1 1913 !. 137 199 !, 74 « ~· 80 1 ""' 53 3 Miscellaneous bookings ______short tons__ 52,726 """' 050 1913 119 202 41 "' "" 3 + !6 5 Unfilled orders, U. S. Steel Corp., M""' 200,857 \ - 29.7 !; 1913 Ji. 152,197 (I 103 100 97 11 1 ~· n 4 445 4 798 6 911 s~~e~s~rbfu~~\,~a"Ck;aiicrgaf~~~e~f:long tons__ • • • ------i. ------I, 1913 ·: 114 _111j: 79 74 75 81 [++ _6.'· • Production (actual) ...... short tons__ 155 229 274,0071 5 1 - 260 20 1 561 895 1 4 1 6 Productlon ...... perct.ofcapacity__ 5s.s 87.2 9z.o,1 • • • 37,783 i- 7.9 i 1920 1i 120 . 152/i 132 110 91 . ~~I+ 48.1 ~~rsments ______shhorttons __ 185,600 228234,·m 248,3371 T50.t405' 'i;480;4:ii( ::--j'j"l ~920920 li, 112161 m[;II ~g~ 1~~ 1~A 133 I+ 32!·s2 ------5 orttons __ 349,446 ouo 252,489! 1,541,724 1,367,47S · _ : .! 1 1 • I 7 248 167-~- "" Unfilled orders ...... short tons 445,167 471,053 5ll,:H61------; ______11 3 1920 ! 11 9 131 11 68 5-8 Stocks- . -- !! 1920 i 284173 74 Ii 45 41 65 + ~otaJ ______short tons 104,062 117,069 131,550 1 ______------·---· ; 93 105 + 12- 5 nsold ...... short tons-- 44, 146 37,541 32, 229 1920 107 117 1 95 100 72 15. 1 0 Wholesale prices: ------·------·------' ------, 1920 492 l 577 ,1, 286 815 700 6 - Steel billets, Bessemer .dolls. per long ton 40. 00 40 00 37 30 1 I ' ' 1 o 0 gonan~r1-i·------dolls.perlongton:: 43.03 43:35 41 : 17 ~------I 1913 142 145 I 155 155 1~ ~ 5565 + 0.7 c~~~~ita~~hed-steeC~~\1;: :~ u~ Jg~-- 3. 02 3. 03 2. 59 :------·-· ------: ------1913 154 156 I 167 m 176 176 I+ o. 3 Structuralsteelbeams... dolls.per100lbs:: i~ g~ i&; ::::::::::::::::::::::::::::::: ; ~~g m mj m l~ ~~ 1: l+ ~~ 1 b December, 192:?. r Relative to eleven months' nerage, February to December,-I:n·c-I·us-·I_-v-c'.------· 1913 I 132 132 ' 166 20 1 'rwelve months' avewge, June, 1919, to :May, 19 · 33 TREND OF BUSINESS MOVEMENTS-Continued.

NUMERICAL DATA. 1 I Nou.-Items marked with an asterisk (*) Per ! INDEX NUlltnEHS. have not been published previously in tbe ------,--~--,------~------1 Increase~nt : ;-~-,------~-~ centl'er SURVEY or aro repeated for special reasons; I I in· detailed tables covering back figures for these Corre- CUMULATIVE TOTAL (+) 1 1 Items will be found at the end of this bulletin. sponding FROl! ZULY 1 or de· nAsE ,' 19 ••.,., crease month, THROUGH LATEST crease YEAR • 1923 J lUU (+) For detailed tables covering other items, see OR · or de- last quarterly issue of the SURVEY (No. 30). Decem- January, Decem- MONTH. (-) rERIOD. ~-- I crrtL~'' 1~rs. 192!. ber, 11------,------·11 cumu· ln many cases February ligures are 1922, or lntivc -,,.--~-·-- };;;t nolD available and mag be found in the January, 1923-24 ---c:--;-1 . special table on page :U. 1923. 192t-2S 1923-2i from i i Dec. Jnn. Oct. Nov. Dec. Jan. ~~~ 1922-23. I

,---~------i-- 1\IETALS-Oontinued. ---11----1---- 1 I f I Iron and Steel Products. I ! Locomotives: 1 I Shipments- : I : TotaL ••••••••..••.••••••••.number.. 329 I 1,141 1, 0351 + 69.6 1913 69 75 101 98 lOS 49 - M. 2 Domestic...... number •. 305 j 1,053 1,800 + 70.9. 1920 176 197 268 245 277 1:14 - f>I.U unJi~~~ers:::···········-----DUmber.. 24 I 88 135 i + 53.41 1920 18 13 17 33 27 4 - s:u TotaL ••••••••••.••.•.••••••. numbcr •• 1 387 1 · 1920 120 135 74 52 2~ 31 2 8 Domestic ••••••••.••..••••••• number.. 365 1'::::::::::: :::::::::::1 ::::::::i 1020 t GS 1oo 102 73 41 ~. +: ,s·.s,.. Foreign •••.•••••••••••.•••••. number.. 1 22 1920 22 21 14 8 5 • 5 ~~i~iJi~~f:f:~~~~;=~=~;~~;;;;;;;~;;;~;;;' ~;;;; ,-;;~;;~~;- -~;;~~~;~-~ ~-:;;;·1: ii~ ;~ i; I ~~ I ~~ i~i :;; : li; . U 513,337 ...... 1922 119 176 !' 123 118 139 151 j' 10.9 milled orders ••••.•••••.••••••••• dollars.. 1 + Vesse1 construction: 1 Completed during month- I ; 1 Total...... ~ •••••••••.•.. gross tons.. 38,860 10,780 14,292 183,230 130,649 - 28.7! , 1916 94 311 40 H 84 2.11- 72.3 19,046 3, 719 4, 797 49,317 49,727 8 • 1916 14 18 32 3 • 70 H . - 80. 5 Steel seago!ng •.••••••••••.•gross tons. + o. 1 Building or under contract, end of mo.- 1 1 1 l ~_!~chanelt vessels ..•thous. of gross tons.. 158 146 302 ...... 1 1 1916 20 24 i 13 13 13 121- 7.6 St ruct ...... ste , fabricated: 1 1 · g~es (prorated)------···-·--short tons .. a 208, 000 187,200 189,800 1,107, 300 1, 073,800 - 3. 0 II 1913 157 199 I 131 147 . 218 196 i- 10.0 Sh'es •••••••••••••••••.perct.ofcapaclty__ 80 72 73 ...... ········ll 1913 120 146 96 108 100 lH ,-to.o tpments •••..•••••••• per ct. of capacity.. 66 63 • 1 : 4 5 Steel furnJture, shlpments ••.••thous. of doiis.. 1, 456 1,592 ····i;a62" ·····s;i22------9;009· +"iii~:i-J ~---iiiiii ... "i52- "i5o·J-·it.O' '"i4s· .. ioo· ··i69'i + u: 3

M:aehtneey. 1 1• i i Stokers: : 1 1 Sales ••••••••• ~------·---·-number •• 73 91 145 1, 059 665 - 37.2 l 1919 • 59 62 38 I 21 13 391 + 24. 7 Agr~i~;;-~::-~~~~~~~~~~~-;;:~~;~;;~ :::;;; :::~;~~~: b:~ :;;;;; :;;;~ ;:;:;! !___ ;;;; ___ •2: ::~;---~~------;_;_._1·:·_;_~: .._._;_; ___ ::~~:·~· +104.5 steam':;~~~ci-ctiniririiiaii>uniiis~umber.. 2,560 .••••••••• b 3,oa5 20,o2S 19,587 _ 1• 7 ...... ______11 Neworders ••••••••••.••••.thous.ofdoJis.. 970 1,071 1,506 9,467 7,914 -16.41 1919 91 911 69 64 58 65 + 10.4 t=~n~~ders·::::::::::::~g~~: ~~~~n~:: 1,362834 21,081706 Ul~ ..... ::~~- ----~~:~~~- ~-:~:~.1111 m~ 1~ ~1 I~ I~ 1~ ~!: ~:~ P atents issued: 2, ' ' I Total,allclasses ...... number.. 3,071 3,380 3,578 22,583 22,015 - 2.5 .~~~ 1913 105 127 i 126 111 100 120 + 10.1 Agricultural implements •.••••••.number.. 46 42 72 325 309 - 4 9 1 1913 51 91 : 61 61 58 r.:l 1 - R. 7 Internal-combustionenglnes .....number.. 48 42 77 340 410 +20.6! 1913 91 179' M6 141 112 98[-12.11

NONFERROUS METALS. I i i' II I Copper and Brass. ! '· Copper: " 11 · Produetion ••••••••.•••••••••thous. of lbs.. 129,354 132,817 112,267 il0,107 904,999 + 21.4 1913 103 110 1 130 125 127 130 I. + 2. 7 Exports ••••••••••••••••••..• thous. oflbs.. 76,356 68,888 75,617 418,327 493,465 + 18.0 1 1913 71 107 107 102 108 98 - 9.8 Wliolesaleprlce,electrolytl<'.dolls.perlb.. .129 .126 .146 ••••••••.•••••.•••••••..••••.• l,j 1913 90 931 81 81 82 80 - 2.3 Brass faucets: 1 Orders received ••••••••• numbcr of pieces.. 476,546 •••••••••• b379,008 1,963,321 2,227,007 + 13.41 [·---·--··· •••••• ------~------••••·• ...... ••••••• Orders shipped •••••••••number of pieces.. 319,072 ••••••••.• b 224,,~ 13 1,&36,466 2,441,256 + 32.9 ~---······· •••••• ...... ·----· ······ ·.·.···· ······• T ubular plumbmg sales: _ 31 1 138 1 1 ~::t~:~::.-.::::::::::::::~~~~:~!£lts~:: ~~::~ rJ:~~ 378,403 :::::::::::::::::::::: ::::::::· :::::::::: :::::::::::: ======:::::: ======.. :::: +~~~ 1 Zlne. I ; 153 161 172 6.9 §fod~ctton •••••••••••••••••••.•.thous. oflbs.. 92,97o oo,41s 92,634 531,544 612,734 15.3 1913 148 160 ;I 1~ + + 76 92 100 + 8.3 Roc , end of month •••••••••••.thous. of lbs.. 75,156 81,394 33,. 148~------...... -----···;. 1913 45 41 57 49 106 94 - 11.7 sbrelpts, St. Louls .•••••••••••••thous. of lbs.. 29,418 25,974 11,806 108,912 146,207 :+ 34.21 1 1913 63 43 • p .Pments, St. Louls ••••••••••••thous. ollbs.. 18,038 17,022 13,556 121,547 120,413 ·- 0.9 : 1913 59 48\ 43 64 00 - 5.6 1fi 115 113 116 + 3.0 :::~1::~ ::1::~:::.--·----dolls. per lb.. .066 .068 .073 •••••••••••••••••••••• ------~~[ 1913 127 125 8 ~plrtledd ~t!'tes ••••••.•••••.••...long tons.". 1,652 2,812 3,354 •••••••••••••••••••••• ··-·····!; 1913 192 174 191 56 ~g 146 + 70.2 . 0 VIStblesupply ...... longtons.. 21,0ll 24,372 25,,7~ ····:;,,-••••1···· . .•• •••• '.·+·-·;_. .• . 1913 202 208 166 158 1 197 + 16.0 DetverI 1 es (consumption) •••••.•••••long tons.. 4,810 4,895 6 6.., ..., 700 37 385 , 7 1913 133 181 151 185 131 134 + 1.8 WlPJrts ...... thous. of !bs.. 12,577 12.925 13,165 82,119 . 84,624 + 3.1 , , 1913 174 138 137 119 132 135 + 2. 8 o.csllle price, pig tin •.•••••••• dolls. per lb.. . 471 . 485 • 393 ...... ---··:··---~---··---,.1 111 1913 84 88 93 99 105 108 1+ 3. 0 I ! K;;t~~ki:oiiis:~~~~::::~~f~!u~~~g~:: --·io;727·!·--i2;iw· --·ia:iias· ---ioo;4w· ....6i;oor ,::·44:2-r m~ ~~ ~~g t~ m I~~ m \+-i:i~2 1 ~Ifo~~ts, Sit. L~uisd·--.-~---,--d.• tdholul s. oflblbs.. 9,2850761 7,083451 6,80~8 67,450 57,339 'j- 15.0 I ~gl3 1~! 1f~ ~g~ m i~g 1~~ li+- ~:~ e:;;:lg~N: :~~~~:. s. per •• • l . .I ~------· ------··r······i I I 00

Bituminous: Coal and Coke , II i\: 1 I I1 ~· iroduction.•••••••••. thous. of short tons •• "39,8381 50,801 "50,178 ! 267,358 322,921 i+ 20.8 1913 g~ i I~ 123 108: 100 127 + 27.5 P:l~~~-----·------·thous.oflongtons.. 1,078 • · 1,046 1,092 I 7,875 11,030 \+ 40.1 ~~1909-13 136 114: 98 1!5 ~- 3.0 Mineaverage,spot.dolls.pershortton. 2.17 2.23 4.36 ...... , •••• ,·-··----! 1913 , 336 354 183 181 176 181 1+ 2.S il'holesale, Kanawha, L o. b. I I ' ' CinclnnatL •••• dolls, per short ton.. 3.3\l 3.64 5.64 .•..•..•.••.••..•••.•• •.•••.•• 1913 1 268 256 177 li7 i 154 166 I+ 7.4 R etall, Chicago •• dolls. ;per short ton... 8. 71 1 8. 71 10.98 1•••.••••••• -·······--· 1 •••••.•• 1 1913 225 2"..8 182 182 ! 181 181 1+ o.o • Revbed. h December, 1922. • Figures are fneomplete, owing to fallure of two or three companies to report. 34 TREND OF BUSINESS MOVEMENTS-Continued.

INDEX NUMBERS. I NoTE.-ltems marked with an asterisk (*) ___....,. __N_u_M,E_R_w_A_L"D_A_T_A_. ______II~n~PrenessreiJ,.I!'.· have not been published previously In the - 1 1 ----~------,---:·1 !~ SURVEY or arc repeated for special reasons; C CU:MULATIVE TOTAL <+l 1 in· q crease detailed tables covering back figur~s for th~se spo~~~g FllOJ.l JULY 1 1·• or de-~ TBEAASE!l 1,: 1922 I 1923 1 192! <+l itemswillbcfoundnttheendofthtsbulletm. month, THRo.~ GNHTHI.ATEST II cr(~asle OR .1 1 or de­ For detailed tables covering other items, see Decem· January, - 0 1 l crease ~n•t quarterly issue of the SURVEY (No. 30). bet;•. 192!. Decem·ber -----.-----'1' cumu-1 PERIOD. II~-1--~----.,.---;----1-- I (-) 1923 I lI 1922 'or lat ve I , 1 Jan. In mang caeee February figures are ' ' 1923-24 , 1 1 I now aPallable and mag be found in the January, 11122-23 11123-24 from . li Dec.! Jan.\ Oct. Nov. Dec. Jan. from 1923 I Dec. •pecial table on page :U. · !11922--23. · 1: ! 'I FUEL AND PO\VER-Coutiu:-d.------1/---·l------~~-- ---t··- :---~ --~------Coal and Coke-Continued. I :! , 1: 'I I Anthracite: h f h t 7, 974 - 917 1j 8, 713 39,612 52, 4661':+ 32.8 1913 lll 114 il 114 ' 102 105 0. 7 . Production ....•••••••t 0118. o s or tous.. '• I 105 1921 5 4 ti 40 47 54 104~-56 + 3." Stocks,Exports: distrib. •••••••••••••• polnts.thous.tbous. ofoflong long tons.. 1,4413211 1,~i Ill 356 ·····i,-7i8" ·····2;444"1:1::·42~ii" 1009-13 133 124 l,r 139 128 114 04 - 17.a Prices- • Wholesale, chestnut 11. 48 11.471 1 6 I 913 200 1 216 216 216 216 0 1 R:taJ: ciiestnut"""dolls. per long ton..1::. :_·_·-_- __·_·-_· __ ·_··_ -__·-.·_·_·_· __ -· __ ·_· :··-··_·_·_·_-__-,'.', :913 : 207 i, I 209 208 208 I o:o N.Y •.•••.•.•.. dolls.pershortton •. 14.50 H.roj 209 I Coke: • ' I' Productlou,beehive•. thous.otshorttons.. 1,063 1,1541 1,477 6,321 9,054 r+ 43.2:: 1913 44 5311 46' 39 38 41 I+ 8.6

Production, , "'" 1 3 293 278 283 292 + 3. 2 by product••••..••. thous. of short tous.. 2, 999 3 u.... 3,100 18,418 21,755 I.+ 18.1 I 191 289 293 'I1 Exports .••.••••••.•••.thous. oflong tons.. 45 53 78 367 479 + 30.5 1009·13 168 107 i 107 67 62 73 1+ 17. 8 Price, furnace, . ' 1 11 j 1' Connellsville .•...••dolls.pershortton.. 4.00 4.03 8.25 ··-···················j·····---~,· 1913 it 287 338 ij 1.18! 156 164 165,,+ 0.8 Petroleum.* 1 , li Jj 1 1 1 Cru~~~J~~~~~~~~~---···--·----tbou~. ofbbls.. .18,892 66,354 51,941 339,018 442,798 I+ 30.6, 1913 1: 245 1,, 251 I! 3231 313,. 284,272 ~~- 4.3 Stocks, end of month- 1 1 II I Total (comparable) .•.. thous. oCbbls .• G336,556 a335,173 268,333 ••••••..•••.•..••••••• .•••.••• .1 1913 1· 252 i 256 310 3181 321 319 - o.: Days' supply•••••.••••.•.••• number.. 163 164 148 •••••••.•••••••..•.••• ·····---~ 1919 ,: 123 1 128 136 141 141 141 1+ 0. 1 1 Tank farms and pipe I 1I 1 I ru~~J[f.~~~=~:~~::::::~~::!~g:: ~f~!!~:: a~;~* aa:tf~ ,~~ ::::ij.=~= ::::~.=ii~= ~~=i~=~=,· .--·f:Ir--i:·-~-~--~-\!".rJ· --~rp~f ::~~: ~ Ji Consumpt!on ••••••.•..•.•. thous. ofbbls.. 63,230 62,686 53,002 375,296 436,830 + 16.4 1913 ·: 261 : 247, 290 277 290 287 - 0.9 . Shipments from •. -. thous. or bbls.. 13, 563 9, 011 11, 960 92, 577 83, 397 - 9. 9 ' 1913 1'! 567 ; M4 I 534 555 628 459 I 26. 9 Price, Kansas-Oklahoma ...dolls. per bbl.. 1.015 1.244 1.350 •.•••.••••••.•••••••••••••••••• 1: 1913 134 , 145 133 112 109 133 + 22.~ Oas~~~::Pllscompletcd ...... •...... number.. 887 772 1,208 10,322 8,282 ~- 19.8 1913 75 i 76 72 63 66 48 - 13. Production ..•..•.•..•....••thous. of gals •. 659,169 695,323 623,723 3,1198,314 4,540,711 13.6 i 1919 177. 189 200 187 200 211 Ji.5 I+ 1+ 1 1 1 • • ! Kerosenef~¥e~~~~:~~!t~~~~~~o~~: oil: J1J~J~ s!t~ m ~~ ~1 • ~~ m=~=~~~~= =~=~~~~~~= if:=~~~=i :. ~!ii !i! ~~ m m ~ ~ f:H 1 Er?~:.~~~:~~iii;~~iii~:::~~ot~:Er~~t ~:~~ ~u:~~ ~~~g =~=~~=~= =~=~~~~~~= !'~==~=~=~,~ t!l! ~u 1 :n 1~i :n :~10 i~& + H Gas and fuel oil: Productlou .•.•••.•••.•...•• thous. of gals .• 1,073,337 1,062,892 989 376 6 595 859 7 360 453 + 11 6 1919 153 i 156 168 166 168 167 1.0 ""'~~~:~;;:'~;=;~;,:: ··;: ··;; ·:: ~~:~~~ ~~:;~;: [~;~:,; ;::: :: ::: : :: : ~ : ~: Price, Pa., 600° .tll., "D" ~- 1 I \ at relln.• •••••.•.•.•.••.... dolls. per gaL • 215 . 263 • 229 ••••••••••• ·······-···[······ llil 58 . 59 72 + 22.3 9 62 1 63 55 AUTOMOBILES. Production: Passenger cars ••.••••••••••••••••number •. •275,434 287,296 :m,819 1,527,010 2,0113,290 + 37.1 1919 151. 162 243 206 199 208111+ u Tmcks ••••••.•••••••...•.•.•.•••number.. • 27,720 9 Shipments: 28,797 19,720 150,018 204,883 + 36.6 1910 77; 75 114 106 105 109 I+ 3. By. railroads ••••.•••••.•.•.••••••carloads.. 34,984 Dnveaways •••••••••number of machines.. 27,608 a46,359 35,2281 205,072 268,640 I+ 31.0 1020 130 168 202 182 167 22211+ :i~ By boat •••••••••••••number of machines.. 4, 000 Internal revenue taxes collected on: a~:gi~ 30,~ I 2~~:~~ ~~:ffl t ~J ~~~ ~ n 1~ 1~~ ~ 1~ l:t 7i5 Passenger automobile and motor cycles •••••••••..•. thous. of dolls 0,576 6 Automobile trucks and •• 11, 457 7, 732 I 49, 511 66, 780 + 34. 9 11120 73 111 ' 120 137,137 164 I+ 19. wagons •••.•••••••••••.•. thous. of dolls 805 3 Automobile accessories •• 1, 258 799 6, 077 6, 768 + 11. 4 1920 61 63 I 79 62 64 100 1+ 56. RUd partS .••••••••••••.•• thoUS. Of dolls •. 2,654 4 2,877 3,243 23,855 21,221 1+11.0 i 1920 72 76 i 85 671 62 6811+ 8. RUBBER. Crude: Imports ...••••••••••••.•..•• thous. of lb~ 66,597 3 C?nsumptlol! by tire m!rs .. thous. of lbs:: 24,772 49,080 79, 7841 439, 1191' 303, 252 I,_ 30. !I ; ' 1913 778 826 409 'I 361 6110 50S 1- 26. \V hole5ale prtce, Para, N. Y .dolls. per lb .203 37: t~ 34: ~ I 212,531 i 177,001 ,- 16. i : 1921 161 191 135 . 129 1: 2~ I~ ~ g !ltock.s, United Kingdom ••••.••long tons·· 66,828 Pneumatic tires: •• b 81 081 ··········T·--······· ll········j ~~ 1~ l~j ~ I ~ 87 ·-····I······· Production. ••••.•.••••...•••••thousands 2,437 1 Stocks, end of month .•.•••••• thousands·· 4,329 · Shipments, domestlc ••••••••• :thousands ·• a 2,604 :~:: ~~~~ ::::;~~~~~:~::::;~~~~~: ~:;~~:! ~ ~:~ ~~ m m, m ~~ ml+t !r.~0 I nner tubes: •• a2,785 2,994 19,1241 18,63.5 ~- 2.6;: 1921 154 157 148 129 137 1461 7" Production •.•••..•.•••.••.•.•.thousands 3,289 St

NUMERICAl. DATA.

Decem- January, .~'lfs. 1o24.

140 138 61 52!_ 18.6 D6 67 43 381;- 10.:1 186 173 ti2 55 t:- 12.0 90 108 72 40i-44.3 no 178 77 76 i- J.:J i 89 87 76 73 73 llO 91 77 75 75 fg 1:: ~:a 96 72 69 70 t)() 57 ::- 13.4 69 70 68 59 S6 48 '1- 14.2 I 111 109 84 77 74. i 7s :I+ 6.t 85 86 83 79 80. 83 j+ 6.3 I

1919 79 88 81 73 69 73 i + ::..u 1919 142 157 175 186 158: 8.3 1919 110 121 123 113 oo: t~~! + 9.6 1921 I 100 110 103 92 93: + 6.1 1921 134 145 134 124 ~~! 132 i + 6.S 1921 87 87 113 93 03 89:- 3.0 1921 93 93 90 llO 91 O.tl I 021 + 1921 96 90 88 86 84 - 3.4 1921 I 96 ~~I 95 92 Ill! 91 - 0.3 I 1913 44 36 42 88 44: + 17.6 1913 72 70 M 63 60 . 62161 - 11.2 I 3.5 1913 1171 117 104 101 95 l os/+ 1913 (') 163 163 163 i 0.0 167 r i 1631 Leather Products. i Belting sales: I I ~uantity ______thous. of lbs .• M 73 63 49 45' 611+36.1 321 437 518 3,491 li 1919 ! 41 I alue ______thous. or dolls •. 558 749 928 6,945 1919 58 68 61 47 I 551+34.2 Boots and shoos: 82! Production ______thous. of pairs •• 22,676 26,398 30,744 197,689 1919 101 111 Ill 98 961+ 16.4 75 ~5 - 28.4 Exports------thous. or pairs __ 532 381 478 3,288 1913 63 67 68 63: Wholesale prices- Men's black calf, 201 201 I 201 i 0. 0 blucber ______dolls. per pair •• 6.25 6.25 I Men's dress welt, tan 153 I o. o calf, St. Louis ______dolls. per pair •• 4.85 4.85 ls:l 153/ Women's black kid, Goodyear 142 i welt, St. Louis •. _____ dolls. per pair __ 4.25 14:1 1(2 \i 0.0 PAPER AND PRINTING. II Wood-pulp Imports- Zl5; 107 l)j_ 50.2 ~~ch~nifaL------short tons __ 35,429 17, 6fiO 382: 347 - 0. 2 emum ------•hort tons .. 97,533 88,565 Newsprint Paper. r~9dnction. ------____ short tons.- 117,790 1!18, 772 Imlpmenls ______short tons •• 116,826 123,253 E ports ______short tons •• 115,503 107,594 ~txports __ ------______short ton~-- 1,890 1,682 " ocks, end or month, atmills'"----short tons •• 23,669 28,417 Prln tin g.

584 4b6 181 178

10 So•e table on p. w showing complete data Cor 420 publishers. 36 TREND OF BUSINESS MOVEMENTS-Continued.

NUMERICAL DATA. Per I I I INDEX NUMBERS. Nou: -Items marked with an asterisk (•) 1 cent ' -...... ,------.----ll Per 1 ----.---..----..,------II I cent have not been published previously in the • incrPase' [ in­ SURVEY or are repeated for special reasons; CUMUL.~TIVE TOTAL <+> i detailed tables covering back figures for thi)Se Corre- FROM JULY 1 or de- i BASE 1- crease items wiU be found at the end of this bulletm. spending THROUGH LATEST crease II' YEAR 1922 1923 192~ <+> For detailed tables covering other items, see Decem- January, month, MONTH' (-) OR or de- 1 crease last quarterly issue of the SURVEY (No. 30). Decem- II----..----II cumu- 1 1 PERIOD. (-) 1\Vs. 1924. ber, lative ~ 1923 24 Jan. In many cases February figur-:• are . J~':;~~~yr, • rrom- i, Dec. Jan. Oct. Nov. Dec. Jan. from norll allailable and '"all be found m the 1922-23 1923-2,. I Dec. special table on page Z4. 1 1023. 1922-23. I _____ ------11 PAPER AND PRINTING-Continued: I Other Paper Products. Fold in boxes, orders .... per cent of capac!tY.. 63.2 611.2 liS. 0 ·------~ 1921 143 121 142 142 132 134 + 1.6 Labels~ ortlers ...... per ce!'t of capacity.. 76.0 108.2 98.7 ------· ------·------1921 190 223 179 121 146 191 + 30.8 Rope paper sacks, shipments.. mt\ex number-- --···------I 3J922 111 91 120 118 112 Abrasn·e paper and cloth: , 8l5 547,634 543,205 - 0. 8 1 1919 98 136 119 114 89 132 49.1 ~omc~tlc sales ...... rcams.. 00•353 898'384 961 928,956 75,443 76,132 0.9 I + Foreign salcs ...... rcams.. 9• 200 • + ; 1919 139 98 124 115 100 91 - 8.9 I BUTTONS. I Fresh-water pearl buttons: . Production ...... per ct. or capacitY •• 39.3 38.4 1922 102 111 99 99 85 83-2. Stocks, end of month ...... thous. of gross .. 14,516 14,495 "~~;.: ::::::::::: :::::::::::1 ::::::::1 1922 104 108 113 115 116 115 - 0. GLASS AND OPTICAL GOODS. I I Illuminating glassware:• . , Net orders ...... per ct. of capacity__ 42.4 41.2 49.1 ...... ------~------' 11!921 135 1341 140 144 116 i 112 - 3.4 Actual production ..... pcr ct. of capac!t;-.. 51.7 51. 5 5L 5 ------·------111921 156 142 157 159 143 142 - 0. 7 Shipments billed...... per ct. of capac1ty.. 45.5 40.3 ·52. 3 --...... ------~------1 111921 165 146 164 127 113 - 11.0 Spectacle frames and mountings: I Sales (shipments) ...... index number.. '------: ------· ...... 1913 327 478 413 368 435 + 18. 1919 64 ::I 95 86 90 Ill 1. Unfilled orders (value) .... Jnde.-.: number.. 1------:------· ------~------• 76' + I BUILDING CONSTRUCTION. I I 1:1 . I Building Costs. I i :1 Building ruatcrin!s: 1 I' I Frame house, 6-room • .... .index number.. ~------! ------;1 ...... 1 1913 204 204 0.0 Brick house, 6-room •...... index number.. ------1 ...... ------11------, 1913 I ~: 2011981 207 207 0.0 Building costs (Eng. News . 1 • ' i ! 1 ~I 1913 192 1 221 . 218 220 + o. c!~~~:e·r;~iory.costs(Aber: .. mdex number.. ~~-----·---·~ ...... ------~~------.; I t97 1 thaw)'...... index number.. ------i ...... ----··--.: 1914 i 192 197: 199 2001+0.0 Plumbing fixtures, 6 artlcles ...index number.. ------1 ------1------: i 1913 !------1 180 1 184 1831- 5.5 Construction and Losses. • ! I i : I :I g~~~~1sv~~':.~Jeci'c27'8iiiies);indcx numoer.. ------1------1------...... ----J------1913 I .111 1261 125 101 130 + 28.7 Business buildings ...... thous. of sq. ft.. 7,426 6,650 5,870: 50,527 48,869 - 3.3 1919 I 62 61 I ~::I 75 80 72 - 10.4 Industrial buildings ...... thous. of sq. ft.. 4,591 3,029 I 4,410 1 44,970 28,415 - 36.8 24 - M.O 1 1919 33 35 I 30 44 36 Residential bulldings ...... thous.ofsq.ft__ 30,501 34,693 24,586! 175,272 203,650 + 16.2 1919 124 122 I 174 164 lli1 172 + 13.7 Educational buildings ..... thous. of sq. ft.. 3, 464 2, 571 2, 153 25,779 23, 251 - 9. 8 , 1019 122 204 181 181 134 - 25.8 Other public and semipublic ' · : 11211 buUdingsn ...... thous.o!sq.ft. 1,863 2,213 1,889i 24,220 '19,619j-19.0'i 98 18.8 1 1919 59 &1,1 169 83 + Orandtotal ...... thous.ofsq.ft. 47,845 49,867l 38,947J 321,301 321,717.+ 1.1 1919 83 116 1231' 102 107 + 4.2 Contracts awarded, value (27 States): 1 I I' s~ !I Business bulldings .. _____ ..thous. of dolls.. 38,922 M, 068 30,975 246,867 234,857 : - 4.9 1~ 1 1919 77 92 1 91 115 101 - 12.5 Industrial buildings ...... thous. of dolls.. 23,124 19,723 21,944 223,766 191,006 1- 14.6 ' 1919 45 51 72 54 46 - 14.7 Rcsidentlnlbuildings ____ .. thous.ofdolls __ 136,661 158,521 111,730 776,376 927,368 1+ 19.4 I 1919 170 158 1 222 193 224 + 16.1 Educational buildings ..... thous. of dolls.. 25,468 15,927 13,906 152,611 147,049 - 3. 6 ! 160 - 37.5 1919 143 140 1 220 256 Other public and semipublic 1 ~I buildings ll ______thous. or dolls.. 13,077 14,899 12,730 172,942 136,268 - 21.2 1919 72 88! 172 123 90 103 + 13.Q Orand totaL ...... thous. of dolls .. 267,916 261,320 217,333 1,873,630 1,919,215 + 2.4 1919 100 101 I 149 135 125 122 - 2.5 Southern construct.(16 Statcs).thous. of dolls.. 47,545 ------b 35,822 207, 139 263,475 - 11.3 Fire losses: 1921 130 125 I 132 190 173 United States and Canada.thous. of dolls.. 25,337 41,244 36,615 254,645 2!J!, 385 - 18. 2 ' 1919 212 140 133 113 184 + 62-8 1631 Lumber. Southern pine: Production (computed) ...... M ft. b. m.. 376, 61Xl 452,214 I 462,571 3, 119, 625 3, 153, 086 1 1 89 107 + 20.l Shipments (computed) ...... M ft. b. m.. 363,525 + 1917 95 lOll 115 lOll 6 497,'038 543,218 3, 088,918 3, 125, 174 + 1:2 I 1917 102 123 111 97 87 112 + 29- Orders (computed) ...... M ft. b. m.. 485,566 541,282 622,750 3, 219, 567 3, 213, 565 - 0. 2 109 121 11.5 Stocks, end of mo.(computed).M ft. b. m .. 1, 110,704 I 1917 tro 139 105 97 + 1, 068,919 '1, 146, 677 1917 ill 81 81 78 - 3.8 Exports...... l\1 ft. b. m.. 78,996 55,324 71,130 89 84 Pncet ''B'' and --·386;638· ---434;865- :ri25·· 1919 112 140 102 lOll 155 lOll - 30.0 better...... dolls. perM ft. b. m.. 42.21 44.28 50.78 192 Douglas fir: ------·-·------·~· ...... ___ _ 1913 216 220 I 192 .184 183 + u Production (eomputed) ...... M ft. b. m .. 476,483 470,766 If 424,242 Shipments (computed) ...... l\1 ft. b. m .. 3,175,083 3,602,567 + 13.5 1917 104 122 160 160 136 135 - 1.~ 425,085 473,990 I 503, 7ot 132 147 + 11.4 Exports, lumber...... M ft. b. m .. 59,007 111,340 2. 919,463 3,415. 7!J! I+ 17.0 1917 123 156 161 154 Ex_ports, tlmber...... ______M ft. b. m •• t 31,991 259, 699 388, 734 + 49. 7 19111 145 127 175 181 235 444 + ss. 7 99,343 86,849 17,M9 92, 814 411, 359 +343. 2 691 17.50 19.50 1922 74 121 214 413 604 1- 12.6 calJ~~a~~d.~:~on.dolls. per M ft. b. m .. 19.50 -______..,. ____ -·------1913 212 212 201 201 190 212 + 11.4 Production (computed) ...... M ft. b. m .. 39,785 38,673 37, 004 346, 509 365, 102 I 5. 5 liXl - 2.8 Shipments (computed) ...... M ft. b. m 31,522 36,997 + 1918 84 99 146 185 106 Orders received (computed) ...M ft. b. m" 42, 799 320, 194 305, 8241- 4. 5 191S 188 150 132 182 110 130 + 17.4 20,192 40,773 67,422 365,874 271,495 - 25. 8 142 + 39.7 California white pine: • • I 1918 179 235 135 145 102 Production ...... M ft. b. m 54,915 16,576 Shipments. ______M ft. b. m:: 28, 01)7 614, 612 760, 345 I + 23. 7 ; 104 32 - 69.8 56,302 52,381 1918 87 275 181 1M - 7.0 Stocks ...... ' ...... M ft. b. m 640,991 470,725 1918 174 225 191 176 6 Michigan softwood: -- 1918 180 163~~I 247 237 242 178 - 26. Pr~duction ...... M ft. b. m .. 5,908 4,474 4~:: ---~:~;- ---~~~:~-,~ ~-~:-;- 26 - 24.3 Sh1pments...... M ft. b. m 5,988 ;1917 35 42 i 56 29 34 3,896 6, 537 1 59, 666 46, 429 - 22, 2 : Stocks, end of month ...... M rt. b. m-- 47,005 40,127 1917 57 37! 35 39 Michigan hardwood: -- 1017 43 47 44 !!i ~ : tt: Productlon ...... M ft. b m 18,928 12,636 46 - 33.~ Shlpments...... M ft. b: m:· 12, 562 :~:: 1'1'·---~~:~~- ---~~:;~~-~ ~--;~~- : 1917 54 49 ft: 9,287 521 30 -_ 26.1 1 Stocks, end of month ...... M b. m.: 85,119 69,005 1 1917 59 ::I'55 49 50 31 s. g b December, 1922. 1~~m ---~~:~~- ----~:~~.! =-~~-: .. ; 1917 49 I 48 .I 41 38 ~I 1 Twelve months' a':erage, 1uly to June, inclusive ending the year indicated ' As or first or following month. ' • II Twelve months' average, May to April inclusive " Includes hospitals public buildings soelal religl its d Jal build' · • • • o • en memor mgs formerly shown separately in the Survey of Current Business. 37 TREND OF BUSINESS MOVEMENTS-Continued. ======7======n======--=-=====------

NUMERICAL DATA. Per : 1NDEX NUl\!llEUS. I' NOTE.-Items marked with an asterisk (*) cont J have not been published previously in the --.------.---1 !c~ incrc~o in- SURVEY or nre repeated Cor special reasons; CUMULATIVE TOTAL <+> ' detailed tables covering back figures Cor these Corre· FROM 1ULY 1 or de- BASE ' crensc Items will be found at the end of this bulletin. sponding 1922 1923 192f 1,, <+> THROUGH LATEST crease YEAR or de· For detailed tables covering other items, sco month, l!ONTH. (-) OR last quarterly issue of the SURVEY (No. 30). Decem· January, Decem· her, 1924. ber, 11----.-----1 cumu­ PERIOD. ---l----~--~----~---l----lcro~c 1923. lative . In many caaes February figures are 1922, or ' §;;J. 1923-24. from now available and mau be found in the January, .1922-28 1928-U from D l0 special table on page 24. 1923. 1922-23. ec. _I_a_n._ _c_t_. _N_o_v_. _D_e_c_. -~-n_n_. I' Dec. 1 BUILDING CONSTRUCTION-Contd. I Lumber-Continued. I I Western pine: I Production (computed) ...... M ft. b. m.. 91,771 70,536 64,093 936, 581 1, 008, 307 + 7. 7 ~ 1917 64 59 151 131 81 I 65 ,- 2.1. 1 Shipments (computcd) ...... M ft. b. m.. 111,681 126,708 128,711 914, 522 862,812 - 5. 7 : 1917 99 117 1211 10'J 115 ,+ 13.5 Stocks, end or mo.(computed).M ft. b. m .. •1,049,816 975,723 830,534 1920 101 9~ 120 123 Ill - 7.1 North Carolina pine: ml1 Production (computed) ...... M ft. b. m.. 42,455 47,530 40,950 364,371 343,469 - 5. 7 ' 1919 134 120 149 153 124 tau I+ 12.0 Shipments (computed) •••.•.•• M ft. b. m.. 44,415 50,680 43, 120 389,084 326, 620 - 16. 1 ' 1919 144 134 156 165 138 !57 1+ 14.1 Northern pine: Lumber- I Production ...... M ft. b. m •• 28,207 37,552 34,736 306,945 347, 365 + 13. 2 1920 48 sa I 119 55 70 1. 93 .+ 33.1 Sbipments ...... M Ct. b m .• 33,265 41,720 49,728 376,464 308,753 - 18.0 1920 83 9!1 10·1 88 66 83 i+ 25.4 Lath- ·: Production••.••••••••..•.. M ct b. m .• 6,928 8,979 9,025 87,847 so; 978 - 1.0 1920 45 94 127 54 72 114 II+ zg.a Shipments...... M Ct. b. m •• 5, 736 9,106 8, 759 92,600 79, 757 - 13. 9 : 1920 90 135 2{0 113 90 113 1+ L8.8 Northern hemlock: Production...... M Ct. b. m.. 18,710 16,528 26,614 168,265 167,605 - 0.4 1913 53 71 66 46 50 441\- n. 1 Shipments ••..• ...... M Ct. b. m.. 18,249 17,951 21,535 190,893 165, 141 - 13. 5 . 1913 56 59 72 68 50 49 q- J.(\ Northern hardwood: Productlon ...... M ft. b. m __ . 32,310 43,525 42,003 180,338 221,237 + 22. 7 1913 107 148 99 00 114 154 !:+ 31.7 Sbipments ______...... M ft. b. m.. 40,087 28,319 37,771 275, !119 267,473 - 3.0 1913 145 149 175 168 158 112 il- 29.4 Walnut lumber: 1 Prodnction ...... M ft. b. m .. 2,730 2,561 2,245 12,029 18, 077 + 50. 3 1922 100 124 143 167 151 142\.- 6. 2 Sbipments ...... c ....M ft. b. m •• 2,000 3,088 2,472 15,184 16, 174 + 6. 5 ' 1922 107 128 12.1 136 107 160 'I.+ 49. 9 Stocks ...... M ft. b. m .. 9,143 8, 646 8,529 1922 84 84 80 83 90 ss:.- 5.4 Walnut logs: Pnrcb~es ...... M ft. log measure __ , 2, 579 2,308 2,454 10,790 16, 139 + 49. 6 '1922 127 168 m 179 177 158 i!- 10.5 Made into lumber and veneer ...... M Ct. log measnre .. f 2, 083 2,122 1,986 10,117 15,087 + 49.1 ' 1922 110 150 168 176 157 160 1'1+ !.II Stocks ••••••..•••••••.• M Ct. log measure.. 4,426 3,634 1,957 1922 90 94 165 187 212 m - 11.9 All lumber: 11 ·Production, 10 species ...... M ft. b. m •. 12, 051, 504 2, 225,083 2, 231,014 16,453,003 17,345,841 5. 4 . 1913 89 102 123 112 93 + 101 'I+1 8.5 Exports, planks, joists;etc •••. M Ct. b. m.. 171,642 218;557 130,772 817,298 1, 108,781 + 35.7 ' 1909-13 65 73 72 82 ll6 123 + 27.3 1919 32 82 67 31 26 1 - 13.7 Retail sales, Minneapolis ••.• _M ft. b. m.. 5, 743 41 959 6, 014 ...... I 29 Composite lumber prices: • Hardwoods•.•••••.•• dolls. perM Ct. b. m •• 43.51 43.71 45.54 1921 109 115 100 105 lot 10511+ 0.5 Softwoods•••.•••••.. dolls. perM ft. b. m •• 31.58 32.80 34.36 1920 69 71 63 64 63 64 li+ 3.1i il Wooden Furniture. i II 262,160 9.8: 1920 86 85 116 99 'ro IPments .•••• _____ ••dolls., average per ft rm •. a 31,631 30,596 34,282 238,783 + Unfilled~ orders ••••..• dolls., average per firm ..I "32, 759 52,964 68,575 1920 41 54 42 36 26 !~ ll+ 6t~ Flooring. ! Oak flooring: I Production.••••.•.•••••.••.••• M Ct. b. m .. 26,032 30, 136 27,473 179, 785 207, 553 + 15. 41' 1913 352 412 438 459 390 m II\+ 15.8 Shipments ...... l\I Ct. b. m •. 27,435 31,080 24,162 181, 258 201, 313 + 11. 1 1913 408 402 518 477 459 517 '+ 13.3 Orders booked .... ------·-----M Ct. b. 37,851 42,141 30, 137 176, 629 221, 607 + 25. 5 1913 392 494 501 494 620 m.. 236 283 429 461 457• 690 11.3 Stocks, end of montb •..••••••• M Ct b. ni.. ' 41,140 a 38,59~ 25,447 ------...... ] 1913 ~.~ I'+'1- 6.2 Unfilled orders, end or month.M ft. b. m .. 47,700 56,554 50,398 1913 564 695 481 620 658 "" + 18.6 M aple flooring: · Production ..•••••...•••.••.•. M Ct. b. m .. 11,633 10,225 13,929 89,773 79, 442 - 11. s 'I 1919 136 139 123 us llG 1 1 Sbipments ...... M ft. b. m .. 8,876 8,109 13,269 90,947 70, GO! - 22. 4 li 1919 108 112 98 83 75 ~lil: ~~ 24,481 97, 118 64, 970 - 33. 1 ; 1919 102 173 06 64 73 lot !+ 42.0 Orders booked ...... M ft. b. m .. 10,381 14,736 157 141 ,_ 11.9 Stocks, end of month...... l\1 ct. b. m •. 24,239 21,831 25,023 1919 163 162 129 143 1919. 58 94 39 40 40 49 I+ 21.3 Unfilled orders, end of month.M ft. b. m •• 15,375 18,655 36,084 1 I Brick. I

Clay fire brick (computed): 128 121 107 92 111 Production..•••••..••• ___ ••.••thousands .• 46,873 56,310 64,804 378,916 397,083 I+I 4.8 I 1919 106 + 20.1 57,569 373,412 375,377 0.5 1919 108 114 111 97 95 117 + 12.4 Shipments.~ ...... thousands .. 48,131 54,108 !+ 133 132 143 Stocks, end of month ...... thousands .. 183,009 198,345 163,977 19111 112 118 129 + 8.4 47,188 66,063 64,883 1919 99 12G 93 87 92 128 + 40.0 New orders ...... thousands •• 80 69 64 63 74 . . Unlllled orders ...... tbousands .. 59,142 69,838 75,421 ~~~~:~~~~ ~~~~~~~~~~ ~~~~~:~~ : 1919 72 ,+ 18.1 8 1 1 IICa brick (computed): 1919 97 102 86 69 43 95 +124. 2 E~~duction ••••••.• ----···-····thousands•• 5,980 13,407 14,308 91,446 78,040 j- 14. 7 I 8,492 15,400 14,281 85, 330 80, 332 - 5. 9 1919 78 102 80 61 61 110 '+ 81.3 Ipments •••••• __ •••• _. __ •.••thousands •• 111 102 105 99 101 2.5 Stocks, end of month...... tbousands•• 41,259 4.2, 296 46,174 1!1111 108 + F ace brick (32 identical plants): 134 20,939 17,366 20,149 167,456 159, 827 - 4. 6 1919 149 129 165 138 Production...... thousands •• 182 191 194 200 229 250111 1!- 17.19.1 Stocks on yards u ••••••.••••••thousands •. 56,436 61,575 64,877 ...... 1919 :+ 25,641 33,592 41,087 96 H9 116 105 93 122 ,+ 31.0 Unlllled orders.·-···--··-··· .•thousands .• ··-······-- --····-··-· ...... 1919 110 137 162 128 91 Sbipments...... - •••. tbousands .• 12,650 11,231 19,087 146, 323 131, 903 - II. 9 : II 1920 80 ~- 11.2 P aving brick: ! Production- Actual ...... thousands •• 23,592 19,664 Sb' Relation to capacity______per cont.. "52 37 -----·---·- ...... ---·---- ...... ····-· ...... ~------Ipments .••••••••• _•• ---· ...thousands •• 12,979 9,491 ...... ------······ ·····- ...... ····-· ...... c::::: Stocks, end of month ...... thousands •• 86,930 91,737 Orders, received .•••••••••..•• _thousands •. 13,671 6, 83-l ::::::::~: ::::::::::: ::::::::::: :::::::: :::::::::: :::::: :::::: ::::::~:::::: ...... ······' Cancellations •••• -•••••.••••.•• thousands •• 2,179 1,164 . Unflllcd orders, end or month •• thousands .• 60,624 51,419 Pnees common brick: 290 305 Wholesale,red,NewYork.dolls. per thons •• 19.00 20.00 ::::;~~~: ~~~~~~:~~~~ ~:~~~~::::~ :::::::: ::::~~~;::: ::;~~: ::;~~: :::l~;~: :1~::~:~ At plant, salmon, Chicago.dolls. per thous .• 8. 76 b 8. 75 ...... ••••••••••• ' 1913 177 178 182 174 177 •••••• ••••••• "Revised. b December, 1922. 6 As of first or following month. · II Represent stocks of finished brick on yards and does not Include formed brick in kilns~ reported prior to September, 1923. Current data therefore arc not comparable to data prior to September, 1923 11 Ten months average, March to December, inclusive. as TREND OF BUSINESS MOVEMENTS-Continued.

NUMERICAL DATA. Per I! \! -- INDE_::__NUMBERS. Per NoTE.-Items marked with 1111 asterisk (•) cent have not been published previously In the I· 1 cent 1---..-----,;;----..------­ increase · I SuBVEY or are repeated for special reasons; CUMULATIVE TOTAL (+) ' In- detailed tables covering back figures for these crease 1922! 1923 192,i <+> items will be found at the end of this bulletin. S~~~~g n::c?~~u;;T~ST :e~ , ~:!~ or de- For detailed tables covering other Items, see Decem· Imonth, MONTH. (-) ' OR last quarterly issue of the SURVEY (No. 30). J'anuary,1924. Decem·her, ll----.----ll cumlativue- 1 PERIOD. ~----~--.----.---- ~e&~ In many c,.ea February fi11uree are 1~8. 1922, or 1923-24 I 1-l I I - };J. now a1>ailable and may be found In the J'anuary, 19i2-28. 1923-24 from Dec.; Jan. Oct. INov. Dec. J1111. i':. epecial table on pafle %4. 1923. 1922-23. 1 1 -~------·---11----1~---!11-·- -~-1-:-1---,II BUILDING CONSTBUCTION-Contd. : I.: I! I Cement. Production...... thous. of bbls.. 9,997 8, 78811 7,990 74,942 1913 I' 113 104 174 I 164 130 115 - 12.1 5,628 74,162 1913 66 76 193 139 87 70 - 18.7 Sbipments ...... tbous. of bbls.. 6,408 5,210 Stocks Lend of month...... thous. of bbls .. 10,575 14,163 I 11,477 1913 I 81 102 41 62 94 126 + 33.S Price, .t'ortland: Chicago dlstrict ...... dolls. per bbl .. 1.65 1.60 1913 I 171 158 173 166 163 170 I+ 4.2 Lehigh Valley...... dolls. per bbL. 1. 75 1. 72175 1.90 1913 214 214 200 197 197 o.o Concrete paving contracts: Total...... thous. o!sq. yds.. 4, 713 4,013 2,956 36,539 43,583 + 19.3! I 1919 66 168 120 106 90 1- 14.0 Roads...... thous. of sq. yds .. 3,550 2, 613 2,140 25,040 27,026 + 7.9 i 1919 62 122 96 103 76 - 26.4 r; I I Boollng. :: I I Prepared roofing: I Shlpments ...... thous. of roof squares.. 2,043 b 1, 960 16,322 15,573 - 4.6 I. 1919 92 145 124 Roofing felt: .1: Production, dry felt ...... tons .. 14,885 14,662 14,362 ...... ); Jan. '23 ... :.1 100., 125 ll2 --~~-~ ~--~~~ Stocks- Total...... tons •• 10,697 12,385 12,972 ...... I i Jan. '23 100 86 77 82 95 + 15.8 64 70 67 - u Dry felt ...... tons .. 2,075 1, \lS2 2,950 ·--·------...... ! Jan. '23 ::::::1 100 57 Receipts: 1 17,056 16,438 15,034 ...... J1111. '23 100 114 106 113 109 - 3.6 ~:~:::::::::::::::::::::::::::::::~~::: 4,890 6,602 6,660 ...... Jan. '23 100 94 87 74 911 + 35.0 MJScellaneons ...... tons .. 799 1,053 1,187 ...... Jan. '23 100 81 71 67 89 + 31.8 ::::::1 i Sanitary Ware. Baths, enamel: Orders shipped ...... number .. 79,909 8!,68! I 85,703 643,586 606, 594 + 11. 6 1 1919 2291 248 310 252 231 245 + 6.0 Stocks...... number .• 36,165 46,570 40,530 1919 96 70 83 86 110 + 28.8 . Orders recelved ...... number.. 93,614 107,494 133,198 "'65ii;75i" '"594;748' - 19.4 i 1919 lg~ I 191 146 118 134 154 + 14.8 Lavatories, enamel: I Orders sbipped ...... number .. 108,569 117,011 91,116 1919 200 199 309 253 237 256 + 7.8 Stocks...... _..... _.. ___ ...... number •• 71,835 90,272 60,535 1919 43 43 31 42 51 65 + 25.7 Orders recelved ...... number.. 113,022 125,273 170,693 1919 169 232 172 140 164 170 + 10.8 Sinks, enamel: ---:~:-!---~:-:- ~-~~~-: Orders shlpped ...... number.. 114,560 126,088 116,639 687,164 801, 000 + 16. 6 : 1919 189 214 248 202 210 231 + 10.1 Stocks...... number •• 79,894 90,003 59,530 1919 52 47 42 49 64 72 + 12.7 Orders receh·ed ...... number.. 129,620 145,977 195,984 ---9io;m· ·--;oo;522· ::·ia~z-; 1919 223 106 130 147 1M + l:U Miscellaneous, enamel: 151 I Orders shipped ...... number•• 62,332 62,640 1919 167 188 207 220 221 + 0.~ Stocks...... number .. 46,327 57,333 68 72 23.8 ~:~ 1 ...:~~~~~- ---~~~-~- ~-~~:.i 1919 70 72 M + Orders received ...... number.. 58,860 76,800 93, 427 449, 213 402, 732 - 10. 3 I 1919 156 I 223 ~I145 149 140 183 + 30.6 U nlllled orders: ! Baths...... _...... number .. 194,004 211,674 248,627 li192J 609 465 452 475 5111 +U Small ware ...... number .. 681,446 704,194 829,235 I> M5 + 3.3 1923 I mj 642 569 643 527 ,CHEMICALS. I Acetate of lime: : Production...... thous. oflbs.. 11,814 13,420 15,721 88,081 90,707 + 3.0, 1922 164 151 124 111 113 128 + }3.6 Shipments or use ...... tbous. oflbs.. 12,144 9,022 16,261 109,773 76,924 - 29.9' 1922 144 119 92 103 89 66 - 25.7 '" Stocks,endofmonth...... thous. oflbs.. \18,800 23,402 14,143, ...... 1 1922 M $2 65 + 24.6 "'!ethanol: 43 39 52 Production ...... gallons .. 624,433 705,747 893,418 4,760,369 4,635,191 - 2.6, 1922 156 157 117 133 110 124 + 13.0 Shipments or uso ...... gallons.. 763,166 642,81~ 866,339 6 736,015 4 539 752 _ 20 9 , 1922 141 136 115 140 119 101 - 14-7 Stocks, end ofmonth ...... gallons .. 2,592,298 2,632,633 2,000 039 ' ' ' 1 • : 1922 73 73 104 g{l g4 oo+J.O '\'ood at chemical plants: ' 1 ...... ·------~------! 1 Consumption (carbonized) ...... cords.. 67,669 · 78,892 ___ M__ 5_,_s_s_s_____ s_22__ ._o_26___ _ ': 1922 I 1631 153 123 + 16-C 1 os,,4~ ~·3 116 128 105 Stocks, end of month ...... cords.. 837,783 786,174 813 4"" 1922 I 00 86 87 87 89 83 - 6.2 1 1

long tons 24 322 25, 878 23 221 139 "" i ·,1 1 lmp~~t~h't t ..f .... d...... ' ' ,3u• 140,779 + 1.1 1009-13 71 110 100 69 116 123 +6.4 N 1 ra e o so 11 .. - ...... long tons.. 87, 780 159, 276 109, OM 453, 983 500, 675 10. 3 1009-13 105 3 81-' Exports: + , 25 132 71 203 309 + Sulphurlcacld...... thous.otlbs.. 860 570 956 4,4*9 5,045 + 13.4! 1909-131 87 156 68 87 59 93 + 38.8 Dyes 1111d dyestu1Is...... thous. of dolls.. 414 629 400 3 107 3 6.56 + 17 7 ; 1m-1a 1 772!1 383 1,849 1,1\M 1,430 1,829 + 27.8 P. Totalfertlllzer...... Jongtons.. 51,408 &,200 68 6e8 ·soe;868 G30,61l8 + 2i4 I 009-13 ' ' GG 82 +M- Index numbers: ' ' 1, 1 641 G2 82 60 nee I 1 Crude drugs...... index number...... '..... 1; A '14 .,,,. 1· ..no 206 - 7.3 Essential olls ...... lndex number...... I:--·------...... ··--·--·: , ug., """' """' ~ ~ ~5 Drugs lllld ...... ··--·------:------,I .Aug., 'H 123 124 135 1311 U4 141 ,- 2.1 pharmaceutlcals ...... index number...... I i' A , , •• 1 o.~ Chemlcels ...... weightedlndexnumber ...... ------1 ug., 1• 137 1"" 1M 155 1411 tro + 165 1G5 105 164 - 0. • Prlce,sulphuricacid66"N. Y ..lndexnumber:: :::::::::: ~------...... ----·------:! 1\113 164 173 75 0. 0 1 75 75 75 NAVAL STORES...... ------r----·-----~------~~1 1913 ! 70 t 70

Turpentine ~3 principal ports): ! : I retksrecelpts ...... barrels.. 77,986 10,788 10,326 184,646 218,664 + 18.4:; 174 184 71 - 61-~ toe ...... barrels 60,318 ·U, M6 38 758 1919-20 163 I 68 2181 1M - 17.• R osln (3 principal ports): · .. ' ...... ------1919-20 144i 125 119 126 162 I Net receipts ...... barrels 119,011 61,971 67,967 669,158 782,224 + 16.9 ', : 111 ,7,V 1919-20 1 199[ 12211 190 213 1- Stocks ...... :barrels:: 346,220 306,606 338,957 ...... 173 163 - 11.4 1 1919-20 I 174 t6o I ml 158 ~December, 1922. " Eight months' average, May to December, Inclusive. a9 TREND OF BUSINESS MOVEMENTS-Continued.

NoTE.-Items marked with an asterisk {*) I' NUMERICAL DA'rA. Per 1---I_N_D_E_x__ l'"•r have not been published previously in the ------.------cent _ NUM~~-us:______' SURVEY or are repeated for special reasons; I 1 I increase cent detailed tables covering back figures for these Carre- CUMULATIVE TOTAL (+) In· items will be found at the end of this bulletin. spending FROM lULY 1 or de- BASE croa..· last quarterly issue of the SURVEY (No. 30). Dg:m· January, Decem- MONTH. ( -) · on -or '" In many Calles February flguree are •-ll 1922 ' 1 8 II now •mailable and may be found in the J ' or 1923-24 Jan. 8 1 •peclal table 011 page 21. fs~?"· 1922-23 1928-24 19~!&. I Dec. Jan. Oct. Nov. Dec. Jan. ~~~ FATS AND OILS. ~-- ---1------·------. -- ~ ------1 Total vegetable oils: I rxports ...... thous. oflbs.. 7,386 4, 735 9,218 49,690 29,407 - 40.7 1913 42 32 i 13 22 25 16 I_ 35.9 Oleo=~~~i,:;,:·------thous.oflbs.. 45,115 79,742 63,112 339,529 318,202 - 6.3 1913 293 295 I 164 100 211 373 I+ 1a.; Productiorr...... thons.oflbs.. 19,028 22,148 20,378 117,965 136,211 - 14.6 1913 174 16811186 186 157 183 Consumption...... thous. oflbs.. 19,748 23,841 20,633 119,425 138,477 + 16.0 1913 168 174 1 179 203 166 201 l:t ~:~ Cottonseed. Cottonseed stocks ...... tons .. a738, 761 577,693 a527, 777 1919 154 103 143 !55 144 113 - 21.8 Cottonseed oil: --·······-- ---·------1 ------\ l Stocks...... thous. oflbs.. 140,863 136,348 95,787 1919 114 96 98 145 146 142 !- a., Production...... thons. of lbs.. 128,122 121,148 143,944 ---767;oir ---7iii;7s6· 1 ::--;;~5- 1919 126 132 174 !64 116 110 5. 4 Prlee, New York ...... dolls. per lb.. .110 .110 . .108 j----·------...... ------··\ 1913 134 149 165 162 !51 152 0.0 Flaxseed. Recelifts: mneapolis ...... thous. of bushs •. 817 403 469 , s. 933 8. 358 +112.li I 1913 07 50 196 133 87 43 - 50.7 Duluth...... thous. of bushs .. 608 159 136 3,364: 6,343 + 88.6 1913 53 13 235 148 69 15 - 73.8 Shipments: Minneapolis ...... thous. ofbushs.. l 166 137 123 919 1,360 + 48.0 1913 76 79 253 !62 100 88 - 12.2 Stoc~uth ...... thous. of bushs .. 900 199 365 3,146 4,285 + 36.2 1913 72 33 143 64 82 18 - 77.9 Minoeapolis ...... , ...thous. of bushs •• l 478 410 1913 11 5 215 329 205 176 ,~- 14.2 . Duluth...... thous. ofbushs•• 417 304 ?~ :::::::::::, ::::::::::: ::::::::J 19!3 12 3 64 23 15 11 - 27.1 Ltnseed oil: . Shipn;tents from Mi. nneapolis.thous.oflbs•• 15,297 13,754 10, 051 65, 290 90, 435 + 38. 51 19!3 65 66 110 103 101 90 ·- 10.1 Ltnseed·OJl cake: j Shipments from Minneapolls.thous. oflbs •• 24,475 24,652 17,371 94,251 144, 749 + 53.61 1913 67 58 80 88 8! 821+ 0. 7 FOODSTUFFS. l Wbeat. I I· ~~orts, including flour_ •••.• thous. of bushs .• l 12,991 12,201 12,519 161,504 111, 207 - 31. 1 1913 138 !05 157 102 109 !02,- fl.! IStb.le supply...... thous. of bushs.. 198.746 194,616 140,760 1913 266 274 303 361 387 379 - 2.1 :~!Jetpts, principal markets ...thous. of bushs .. 28,404 15,875 37,615 "'33i;ii52' '"266;392' :.:·i9~7- 1919 144 119 129 118 90 50 - 44.1 tpments, prin. markets..... thous. of bushs.• 16,515 11,200 18, 936 20!, 131 134, 130 - 33. 3 1919 122 95 95 88 83 50 !- 32.2 Wh eat flour: 1 groduction...... thous. of bbls.• 10,778 10,360 10,137 83,315 79,642 - 4.4 1914 114 104 129 119 Ill 107 1- 3.9 S onsumption ...... thous. of bbls .. 10,771 8,659 9,314 72,607 69,591 - 4.2 1919 135 114 133 127 132 106 ~- 19.6 Price!~cks ...... thous. of bbls .. 7,100 7,100 7,400 1919 82 78 90 84 75 75 I 0.0 NNo. 1, northern, Chicago •. dolls. per bush.. 1.112 1.133 1.199 ...... 1913 140 !31 131 !20 122 1241'+ 1.11 Ft 2, red winter, Chicago.dolls. per bush.. 1. 083 1.106 1 258 1913 134 128 111 !08 110 112 + 2. I 145 135 132 133 Fl~!~Jr£~!~~~~~:~·.... dolls. per ubLI! e.1oo o.195 . o..· 63o •__ ._-_: -_:_::__ ___ - •__ ·__ ·__ ·__ -__ ·__ ._-_: ·__ -_:_:_:_:__ -_:__ __· ._· __- __· __- __-, 1913 148 135 \+ 1.6 Knnsas City......

1 I Receipts, principal I 139 88 97 78 ,- 19. -~ V~arkets ...... thous. of bushs.. 20,134 16,208 2'J, 635 155,341 154,215 - o. 7 1· 1913 101 109 1913 186 177 118 107 l14 101 ,_ 12.0 1 17 30 1 38 39 37 21 I_ 43.2 ~x~~~s~~~~Kiiiniiiiieiii::!gg~~: ~~~:g~:: ~:~ '·~~ '~g~ ,----;;o-276- ·----7-oi4- ~:.:-65·4-1 ' 1913 30 1 16 0 120 !26 5.6 ••. dolls. perbush .. .449 .474 .441 1913 1221 117 117 us + B r~Jiifca~ o~~:~~~-~~~~~: l ----~-~------~------~--: ~~1 ' : Recei~ts, principal i i ' 1913 67 ro 64 32 - ro.o· Emar ets ...... thous.ofbushs .. i 5,830 2,916 3,776 28,187 33,[>6-l + !9.1 18 26 20 - 21.7 Pxports ...... thons.ofbnshs.. 382 299 661 14,202 7,811 -45.0 i 1913 98 rcc;:• fair to good, malting, I I 108 105 no 113 + 2. 9 Rye: tcngo ...... dolls. per bush.. ) . 686 • 705 . 6-19 ...... 1 1913 .:I .:I Receipts, principal i 1 1 1913 265 273 !57 140 - 11.2 Em~kets ...... thous.olbushs •• i 2,036 1,807 7,176l 57,492 21,450 -62.7 1 352 633 774 530 - 31.6 px_portS,includlngflour ..thous.orbushs ..l 1,200 821 3,455, 3:~,540 11,2/ii -66.4 1913 1 2.~ 112,~1 Ill 110 rice, No.2, Chlcago .....dolls. per bush •. l . 701 . 725 . 872 ...... , 1913 140 137 113 114 + 3. 4 I 75 86 82 4.6 .. 17,881 17,066 24,520 ___ 296___ ._3_77 ______1_4_7_,_9_25____ - __ ro.___ __ i 1913 1291 118 lOS 6otalgralnexpo:~~!c~::~~hous.ofbushs ! ,~ ~ i 127 !28 115 l16 + 0. 3 ar landings of grain and grain pro

NUMERICAL DATA. I p 11 I INDEX NUMBERS. NoTE.-ltems marked with an asterisk (•) have not been published previously in the ---.,....---;;;-----;;,------~ in~r!se'! l--.------.----n !~~ SURVEY or are repeated for special reasons; CUMULATIVE TOTAL <+l Ii ' in· detailed tables covering back figures for these FROld lULY 1 or de· BASE 1922 1928 111114 Items wUI be round at the end or this bulletin. sp~~'Jrng I !! 1 (~ For detailed tables covering other items, see month, TBRo~g!ri~TEST c~~c I\ Y~iR :~ Decem· January, il I last quarterly Issue or the SURVEY (No. 30). Dbecem- ll-----,----·1\ cumn·JI PERIOD. I':;·--:---::---.--.----!-- (-) ~~r8. 1924. ~ ~nl 'I · In many casee February figures are 1 1922, or 1923-241, i· Jan. now available and mag be found in the January, 1922-23 1923-2! from 'I '·'Dec. Jan. I Oct. Nov. Dec. Jsn. iom special !able on page 24. 11123. 1922-23. , i ec. 1 ------ll------1------ll·---- 1---:i--· --:------FOODSTUFF8-Contlnued. ! [; \ Other Crops. Rice: : il i Receipts at mills ...... thous. of bbls.. 966 1,076 952 7, 297 6, 400 - 12. 3 I 1919 II 209 156 I 248 314 158 176 + 11.4 Shipments- Total from mills ....thous. of pockets .. 820 1,105 1, 016 6, 246 s, 503 - u. 9 1 1919 154 166 158 202 134- 181 + 34. Through New Orlcans .....thous. of pockets.. 204 229 Stocks, end of month, at mllls ...... thous. of pockets .. 2,011 2,019 249 + G.4 Imports ...... pockets (100 lbs.) .. 28,614 44,876 :-::-li II ; ; I ;, 33 + 56.8 Exports ...... pockets (100 lbs.) .. 339,117 303,950 474,538,.~;, ---:=---.~=2, 079,296 1, 605,631 - 22.8 H ;;~I1919 I 109 151 i '~59 :~59. ' 108 97 - 10.4 Apples: Cold-storage holdings I[ I (1st of following month) ..thous. or bbls.. 9,641 6,575 5, 376 I 1919 i 374 310 I 359 582 556 379 - 31.8 Car·lot shipments ...... carloads .. 7,748 7,961 2 1 371 114 117 + 2.7 Potatoes, car-lot shipments...... carloads .. 11,403 18,983 ~~: ~~ ---~~8:~~r ---~~~:~~- ~- ~I! i ~~~~ 1 ~~ ~~ ~ ~~ 129 76 127 + 66.5 Onions, car-lot shipments...... carloads .. 1,683 2,411 1, s09 1s, ooo 18,741 + 4.1 1' 19t9 ,I 88 uo 274 151 97 139 + 43.3 Citrus fruit, car·lot shipments ...... carloads .. 10,672 9, 735 10,706 39,006 47,864 + 22.7 II 1919 193 198 II1 100 207 198 180 - 8.8 Hay, receipts ...... tons .. 76,458 100,367 75 63 83 + 31.3 Sweet corn, unsold stocks, Iowa-Neb.... cases .. 187, 117 174, 072 ---~:~.... :~:~~- ---~~~::~~- ~.. ::.)! ~~~ ! ~~ (1;9 !i ~ 28 24 22 - 7.0 Cattle and Beef. il ! i Cattle movement, primary market: li I I Receipts ...... thousands .. 1,810 1,884 1,876 106 88 92 4.1 15,319 15,087 - 1. 5 I ! 1919 i s11 91 1' 136 + Shipments, totaL ...... thousands .. 788 712 756 7,487 6, 969 - 6. 91' 1919 11 95 85 155 127 88 80 - 9.6 Shipments, stocker and !eeder.thousands .. 353 243 281 3,534 3,339 - 5.5 I 1919 'I 81 641178 142 80 55 - 31.2 Slaughter...... thousands •• 1,018 1,155 a 1,086 97 89 101 + 13.5 Beef products: 1, 735 8, 028 + a. 8 I . 1919 !! 87 9~ ,· 120 Inspected slaughter produc. thous. oClbs .. 411,049 45/i, 902 429,162 a, 089, 042 a, 159, 769 + 2. 3 I : 1913 I' 124 151 135 120 133 + 10.9 Apparent consumption...... thous. or lbs.. :l89,065 479,328 418,767 9 3 125 95 87 100 + 15.5 Exports ...... thous. of lbs .. 9,495 9,899 12,537 1' 1! j! 89 70 73 +4.3 _ Cold-storage holdings 2, ~~:~r~ ·~:~g ~ ~:~ mi ~ ~ ~~ (1st of following month) ...thous. or lbs.. 105,655 102,340 39 45 43 - 3. Prices, Chicago: Cattle, corn-fed ...... dolls. per 100 lbs .. 9. 785 9.469 n;.:;; ;;;;;;;:::: ;;;;: ::;;;: 116 115 111 - 3.2 Bee!, fresh native steers.. dolls. per 100 lbs.. 17.10 17.00 i;: :;;j ;;~ ~~l~ l; Ill~ 135 132 131 - 0.6 Bee!, steer rounds, No. 2.dolls. per 100 lbs•• 13.50 13.90 104 103 106 + 3.0 Hogs and Pork. Hog movement, primary markets: ti :: ] : Receipts, primary markets ....thousands .. 5,825 6,253 :: ----:.. ---:= 167 7.1 ~- ~~-]1' ::: 145 156 + Shipments, primary markets ..thousands .. 1,911 2,198 1,887 9,593 11,832 + 23.3 ! 1919 ' 139 158 ii 140 149 160 184 + 15.0 Shipments, stocker and feeder .thousands .. 46 50 67 8. 7 66 312 465 49. 0 ' 1919 I, 61 88 !I' !35 93 61 + Slaughter ...... thousands •. 3,919 4,016 + 158 :1.5 Pork products, total: a, 395 11,868 21,932 + 22.1 I ; 1919 133 134 ! 123 144 155 + Inspected slaughter produc.. thous.· of lbs .. 979,788 980,793 907,645 4,626,262 s,457,438 18.o! 1 19t3 I 183 1ssl. 148 182 203 Apparent consumpt10n...... thous. of Jbs .. + :zoa + o. 647,086 654,454 a. 919,569 4, 433,278 + 13. 1 1913 I 257 209 250 231 231 ~: ~ Exports ...... thous. oflbs.. 188, 697 224,660 :: m 1 1 11 +1 Cold-storage holdings (1st of following month) ...... thons. of lbs.. 756,818 858,497 Lard:* 1 Production...... thous. oflbs.. 191,748 227,464 11 :: :: :: :: Exports ...... thous. of lbs .. 98,578 132,758 ::~: --:: -~::- [~-!' ::: ~ ~1 2: : :::7 Cold-storage holdings, end or 107,786 511, 120 618,831 I+ 21.1 I' 1919 i!,, 124 170 ,1120 117 155 209 +34. Priccs~onth ...... thous. of lbs •• 49,340 56,161 56,266 ...... : 1919 ii 53 61 il1 39 38 54 61 + 13. 8 Hogs, heavy, Chicago ...dolls. per 100 lbs .. 7.050 7.231 Hams, smoked, Chlcago.dolls. per 100 lbs 20.50 19.30 1 Lard, prime contract, N. Y.*.dolls.per lb:: .132 ~~~8 :~~======::::::::::: 1:::::::~: m~ ' 1~ 1~ 1 1~~ 1~ 1~ 1~ :t ~ ~ 1.28 .118 ...... ------...... 1, 1913 !I 104 101 I1 121 128 120 116 - a.o Sheep and 1\lutton. i ,, !l ' 1: !! Sheep movement, primary markets: Receipts, primary markets ....thousands •• 1,526 1,697 1,636 I 76 1L2 Shipments, primary markets ••thousands .. li 80 67 + 688 773 729 67 64 + 12.4 Shipments, stocker and feeder .thousands.. 154 149 1~:~~ 1~:~~~ + ~:1 I m~ (II ~~ ~II ~ 90 171 3, 410 3, 758 10. 2 I 1919 44 ~~ 258 93 Z1 26 - 3.2 Slaughter...... ; ...... thousands .. 837 920 897 + La mbandmutton: 6, 647 6, 248 - 6. 0 1919 78 "" 93 74 79 871+ 9.9 Inspected slaughter produc.. thous. of Ibs .. 32,286 42,555 Cold-storage holdings 68 62 81 + 3L8 . (1st of following month) ...thous. of lbs .. 2,5081 2,343 Pr1ces: ~:: ---~~~~~~- ---~~~:. =--:~~-: ~::: I~ :: :~I : 24 30 Sheep, ewes, Chicago_ ••dolls. per 100 lbs 6.440 7.188 Sheep, lambs, Chicago •.dolls. per 100 lbs:: 12.500 13.325 1: i': 1:: 1~ ~~g ::::::::::: ::::::::::: ::::::::1 ~~g ~~ ~~~ 1 ~~ m ~:b m+6.6 Fish. I I Total catch, prin. fishing ports •• thous. of lbs .. 12,119 10,259 70 Cold-storage holdings, 15th of mo.thous. oflbs.. 64,292 52,566 65 45 116 90 8559 I-/-1U18.2 4b:~ ---~~~:~-~---~~:~. ~~-~~-~-: m~ 79 65 102 103 104 Poultry, ! I Receipts at live markets...... thous. of Ibs .. 75,576 37,915 I 8 0 o1 d-storage holdings 43, 735 233, 362 252, 334 + 8. 1 i 1919 I an 221 138 382 1911- ~ (1st or following month) ...... thous. of lbs.. 93,675 99,666 121,632 1 ...... ------1919 I 150 183 56 95 141 150 + e. "ReviSed. 11 Not a vaUable; 41

· TR~ND OF BUSINESS MOVEMENTS-Continued.

INDEX NUMHEHS. NoTE.-Items marked with an asterisk (*) NUMERICAL DATA. Pe !1 I Pt•r have not been published previously in the j---1 ---.,....----;;------cent I,----·------·------C<'nt SURVEY or are repeat.ed for special reasons· j I increase' in· detailed tables covering back figures for these Corre· \ CUMUJ.~TIVE TOTAL (+) I 'I CT('fi~C Items will befoundattheemlofthisbulletin. sponding FROll JULY 1 or de-: nASE 11922 1923 11121 For detailed tables covering other items, sec month Tmtouon LA T!i:ST crease · YEAR Ior <+> rlt•· last quarterly issue of the SvRYEY (No. 30). Decem· January, Decem~ MONTH. (-) I OR ber, 1924.• ber Ieumu· . PERJOO. '---1----~----~-- In manu cases February ligurea are 1928. 1922.'or Jative I now available and mau be found in the January, 1923-24 Dec. Jan. 0<< N" Dro ,.: special table on page Zl. 1923 1922-28 1923-21 from 1 ng: ------1-·--___. __ ·- ---·- ----11922-23.1------;~--'• FOODSTUFFS-rontinued. 1 i [! Dairy Products. I !j [ li Condensed and evaporated milk: \ · fl Exports. __ _. ______thous. of lbs.. 29,770 33,623 10, 23\l 7~. i78 139,387 I+ 76. gil 19W 14 14 25 31 42 47 (J- I'' n Receipts at five markets: ji -· Butter•• ______. ___ thous. o!lbs.. 41,881 42,615 · 48,123 388;369 357,308 - 3.0 1919 S4 105 100 90 91 93 d+ 1.8 Cheesc ...... thous. oflbs 14,299 14,399 12,887 122,469 132,707 + 8.4, 1919 84 79 130 HH 88 ssi+ o.i Eggs ...... '...... thous. of cases:: 587 713 853 5,936 6,233 + 5.0 ·.. 1919 41 72 70 48 49 00 j\+ 21.5 C old-storage holdings (1st of following mor 1 xrea~ery butter•• - ______thous. of bs__ 30,282 15, 243 16, 122 ------·--· ------: 11ll6-20 48 29 130 91 &I 271:- 49.7 Cmencan checse •• ______thous. ollbs.. 49,560 40,400 26,593 ------...... 1916-20 90 72 156 148 133 109 ·- 18.:! 180 . 109 52 14 '- 74.0 \\'hol:~:l:g:;ires'i.i-ii~e-inarkct~~ous. of cases~. 1, 926 500 213 ------·-----' 1916-20 36 6 Buttcr______dolls. per lb.. . 530 . 519 . 506 ...... -·------~------! 1919 89 85 81 86 89 ss[L 2.1 Flul~h~~~;------dolls. per lb.. • 230 • 225 . 259 ------· ------______1919 S4 S:l 8.1 80 74 7311- 2.2 1 Receipts- I! Boston (includ.. cream) ..thous. of qts.. H, 79:1 14,684 14,357 103,587 107,184 + 3. 5 1919 109 110 121 113 113 112 .t_ 0. H Greater New York ..... thous. of cans.. 2,335 2,837 2,170 15,679 18, 309 + 16. 8 11ll3 144 145 161 15.1 156 190 [;+ 21. 5 Sugar. Raw: il ~mports ______" ______long tons.. no, 143 230,919 240, o:l4 1, 866, 116 1, 399,516 - 2.;.o li 1913 81 137 159 93 r.1 131 li+H1.1. 7 feltings,8ports. ______longtons .. 199,642 228,670 251,140 2,451,017 1,945,291 - 20.6 1919 70 77 118 89 61 70 1:+ 14.5 Stocks at refineries, end of 1 Rc!i month_.. ______:------~-----Iong tons.. 57,929 79,208 1919 1 47 S4 127 61 61 8311+ 36. 7 ned, exports...... ______Jong tons.. I, 853 3,499 1909-13 90 160 Ca ne, domestic: . Receipts at New 01·leans ...... Iong tons.. 66,014 22,262 33,81l9 128,425 153,203 + 19.3 1913 283 209 1 1:: : .: :: I~::: Pnces: · I d , Wholesale, 96° centrifugal, j \\ ~- Y-- ______dolls. per lb.. . 073 • 067 . 053 ·------• .. .. 1913 163 151 1 211 208 209 192 !..,. s. 2 n. o!fsale, refined, N. y .... .dolls. per !h.. . 088 . 084 . 067~------· .. - 1913 162 etat, average 51 cities ....index number.. ------·------· 1913 151 mI i~g ~ i~~ :~ := u Cub an movement: ~cccipts at Cuban ports ...... long tons.. 25,876 548,358 501,271 1,26-1,474 870,601 - 31.1 1919 26 1.;2 21 3 8 166 i+ 119,7 sxports ______long tons.. 3, 714 341,821 309,831 1,885,087 1,186,108 - 37.1 1919 31 95 75 26 1 lOS '+1110.3 1919 7 43 13 5 3 37 I+ 8. 6 tocks, end of month ...... Iong tons.. 22,162 2.40, 622 276,288 1------· --·----- I Collee. 1909-13 173 153 187 218 189 182 4. 0 rF• J?borts .. _------~------thous. or lbs •. 143, 196 137, 3971 111, 608 721,709 846, 164 + 17. 2 1- \ 151 lc supply: · I 1913 67 46 45 40 a6 ar.j'- 2.2 ~·or !d.-.. ------· ______thous. of b!}gs •. 4,293 4,198 7, 721 51 48 39 37 - ,;, \1 Re .mted States ... ______thou8. of bags .. 712 670 819 ::::::::::: :::::::::::! :::::::: . 1913 53 45 1913 104 105 132 125 127 129 I. 7 Cl~~~c'e!~tal, Brnzil •• ______thous: of bags_. 1, 214 1,235 1,004 6, 717 8, 468 + 26. 1 t 124 Total, Brazil, for world ....thoris. of bags .. 1,288 1,134 1,226 7, 737 9, 585 + 23. 9 1913 97 183 138 130 115 ~~- I~· 0 Total, Drazil, for U. S ...... thous. of bags __ 756 505 693 4,051 5,009 + 23.6 1913 122 176 246 190 192 128 ,I- 33.2 • 'l;ea. .. 173 149 167 95 _ 42.11 Imports ______.thous. of Ibs .. 13, 722 7,831 8, 738 70,1\49 80, 198 + 13. 5 1909-13 110 106 TOBACCO. 11 Consumpti~n (tax·paid withdrawals): · · 4,346 •• 162 _ 4. 2 1 1913 i 89 89 11a 10a 80 78 I+ z. n ~.arge Cigars •• ------· ...... millions .. 491 504 559 : 273 413 mall cigarettes. ______,millions .. 4,428 6,257 5,350 35,091 39, 589 + 12. 8 1913 484 414 342 483 'I+ 41. 3 l\tanuractured tobacco • 237,875 - 3. 7 1913 71 Exporr~d snufi______thous. or~~-- 26, 232 38, 191 37,090 247,076 100 I 1909-13 118 13.3 1:: 1~ 1~~ :: !~ ·::: gpmanufactured leaL .. .".•• tbous. of lbs .. 55,707 50,528 ·H,652 '01,126 326,403 + 20.4 6, 599 7,499 + 13.6 1913 439 470 529 496 5M 512 l- 7. 6 Sal -1garettes. _------______• _. _mUiions •. 1,071 990 908 1919 86 70 I 100 120 115 94 1- 18.5 Pr.es at loose-lear warehouses ....thous. of Ibs .. 94,488 76,989 57,463 375,063 460,707 + 22.8 1ce, wholesale, Burley good leaf, · 1913 208 212 212 212 212 i 0. 0 28.00 28.00 '0.50 ...... 1208 dark red, Louisville ...... dolls. per 100 lbs .. i' TRANSPORTATION. I',j River and Canal Cargo Trame. II· I Panama Canal: 37i 391 522 613 596 2. 7 1,592 9,515 15,943 1915 [i 5451 To tal cru:go traffic .•• __ thous. of long tons __ 2,491; 2,427 II+ 67.6 1915 483 i2.~ 783 785 786 778 1- 2.1 I 1,432 1,402 7;"5 4,M4 10,140 +123.2 I n American vessels ...thous. of long tons .. 3,354 22.6 191.; 242 222 236 261 340 · 322 IJ- 5,5 Sue l'bBrltish vessels .....thous. oflong tons •• 624 590 407 2, 735 + 177 156 . 171 166 173 • 2, 060 11,491 1919 l\l. z. ana) ______..thous. or metric tons.. 2,009 I + 7.3' i I ------~r------1SSISSippl River: 31 5 107 102 57 • 5, 495 92,785 I- 1.71 1913 I Rhe~lpts at St. Louis ...... short tons.. 9,975 I ::::: 1913 I 425 419 489 688 27,290 • 16,855 87,615 169,635 93.6 :J . S Rpments from St. Louis .....short tons •• + ' -----·11"'""--·~;-! ~-~;:~ owh \~·er, ~ittsburgh, Pa., to 4,082,273 + 37.3: 1922 112 : 183 217. 164 ee mg, IV. Va...... short tous .. 490,272 246,033 334,429 I2,973,573 I b December, 1922. · ' . 17 Because of a decided seasonal movement tho percentage given was computed on the corresponding month ol1923 as a base mstead of on the previous month. 42 TREND. OF BUSINESS MOVEMENTS-Continued.

NUMERICAL DATA. Per INDEX NUMBERS. NoTE.-ltems marked with an asteri~k (•) cent Per have not been published previously m the Increase cent SURVEY or are repeated !or ~cia! reasons; CUl!ULATIVE TOTAL <+> in- detailed tables coverin~back gur\)8 for tb~se I Carre- FRO:U 1ULY 1 BASE crease items will be found at t e end of thL~ bulletm. spondlng YEAR 1922 191!8 192~ <+> month, THROUGH LATEST or de- For detailed tables covering other items, see Decem· MONTH. OR last quarterly Issue of the SuRVEY (No. 30). January, Decem· PERIOD. crease ,~e;3. 192!, ber, j-> In many caeee FebtiUJry figure• are 11122, or 1923-24i an. norD ar;ailable and may be found in the January, from 11122-23 1928-U from Dec. Jan. Oct. Nov. Dec. 1an. epecial table on page :11. 11123. 1922-23. I Deo. ·------·------TRANSPORTATION-Continued. Ocean Transportation. I Entrances, vessels in foreign trade: I Tot31.. .•..•••••••••••••thous. of net tons •. 5,529 4,32.5 4,821 41,481 40,731 - 1.8 11113 113 109 139 127 117 -21. 8 American •....••••....•thous. of net tons .. 2,625 1,774 2,021 20,090 17,075 - 15.0 1913 209 172 238 232 ~ 151 -32. 4 Foreign •••••••.•.••.••. thous. of net tons.• 2,901 2,051 2,799 21,390 23,656 + 10.6 1913 78 86 103 89 8!1 78 - 12. 2 Clearances, Yesseis In foreign trade: 102 134 111 Total.. ••••••••••.••...•tho us. or net tons •. 4,964 4,635 4,552 40 704 4l,05111 + 0.9 1913 107 130 103 - 6. 6 Americau •••••••...•.•• thous. of net tons .• 2,237 1,817 1,873 19:815 17,242 - 13.0 1913 171 150 215 231 179 145 - 18. 8 Foreign •.••••••..••.•••thous. of net tons .. 2,729 2,818 2,678 20,887 23,817 + 14.0 1913 82 83 102 92 84 87 + 3. 3 Freight rates, Atlantic ports to: United kingdom.weighted index number•• ...... 1920 27.1 2.5.3 23.4 28.6 27.8 27.6 - 1. 1 All F.urope ...••• weighted index number •• ...... ··········· ...... 1926 24.4 22.11 22.9 25.1 2.5.1 24.9 - 0. 8 Freight Cars. Surplus (dally av .last week of month): ' 129,963 74,416 6,976 ...... 1919 6 8 18 66 158 91 -42. 7 ~~!i:::::::::::::::::::::::: ::::~:::~~:: 149,409 67,578 7,208 ...... ~------...... -·--·---1 1919 5 10 10 107 198 89 -M. 8 Total •••••••••••••••.•••••••••••number •• 312,338 169,036 26,688 ...... 1919 8 14 13 81 165 89 -45. 9 Shortage (dally av. last week of month): ------Box •••••••••••••••••.••••••••••. number.. 18 1,678 26,815 ...... 1919 202 141 21 (18) (1!) 9 +832. 2 CooL •••••••••••••••••.••••.••••number •• 21 1,894 38,477 ...... 19111 870 916 73 14 1 45 +SOl . 9 Total ...... number •• 123 4,598 73,269 ...... 1919 343 303 51 6 1 19 +273. 8 Cars In had order: Total. ••••••••••••••••••••••••••••••cars .. 158, 175 161,569 209,471 ...... 1913 142 187 99 102 1M 106 + 2. 1 Ratio to total in use ...... per Ct'.nt.. 6.9 7.1 8.5 ...... 1913 132 124 97 100 101 liN 2. 11 Cor loadings (weekly overage): + Total ...... cnrs •. 822,095 858,863 847,363 ...... 1919 105 106 134 122 103 107 .. 5 Grain and grain products ...... cnrs •. 44,951 45,093 47,222 ...... ------·- ...... 1919 130 121 127 128 115 116 :j: 0. 3 I.i'l'estock ...... cars •. 35,6111 35,945 34,500 9 ...... 1919 102 105 I 133 121 108 103 + 0. Coal ...... cars •. 161,022 100,826 193,085 ...... ------...... 1919 107 109 108 100 91 lll +22. 2 Forest products ...... cars •• 58,392 66,704 66,828 ...... 1919 100 118 130 127 103 117 + !4. 2 Ore ...... cars •• 10,414 8,435 10,909 ...... 1919 2.S 29 159 95 28 23 -19• 0 Merchandise and mlscellaneous •.•••• cars •• 600,509 493,874 480,989 ...... 1919 I 103 102 136 12.5 106 105 - L 3 .Railroad Operations. Revenue: I I Freight...... thous. of dolls •• I 344,138 333,576 367,026 2,509,442 2,686, 761 + 7.1 1913 206 208 250 224 195 189 3. 1 Passengers •••••••.••.••••. thous. of dolls •• 101,095 91,730 91,137 664,384 100,2.59 159 - 9. 3 Total operatlng...... thous. of dolls •• + 5.4 1913 I 171 158 163 151 176 - 494,464 468,977 502,542 3, 508,816 3, 718,692 + 6.0 1913 201 197 230 208 194 184 5.2 Operating expense ...... thous. of dolls •• 388,149 384,984 408,978 2, 786,163 - 0.8 Net operating income: 2,883,866 + 3.5 1913 I 223 225 245 224 214 212 - Total ...... thous. of dolls•. 69,695 51,281 61,1211 488,918 585,237 + 19.7 1913 132 102 172 144 116 86 -:16 Per cent on tentative valuatlon.per cent •. • 4.44 4.54 5.$ ...... 2.3•• Recetgts per ton-mlle...... ; .••• cents ...... 11113 100 108 93 93 86 88 + FreJg t earrled •.••••••••••.. mllls. ton-miles. : ···aa;4i9 · ···ai;5i4. ·;;37;707" '"243;263' ---266;6i8" 1919 I 154 150 160 158 -"i26" +... Locomot!Yes in had order, lst of following f-"9~6"' 1919 133 138 154 140 "in is month, per cent to total In use: Freight...... per cent. 17.1 17.5 2.5.5 2.3 Passenger...... per cent...... 1919 97 94 61 66 63 65 + 16.11 18.3 24.5 ...... llll9 91 92 67 64 64 69 + &3 Passenger Travel. Railroads: Passengers carried one mlle •••• thousands. &3,111,789 19,048.265 ~.316,907 + 6.7 1913 110 1M 109 100 114, ...... Pullman passengers carried •.•• thousands. !····2:12r 2,689 19,615 National parks: :a,~m 20,810 + 6.6 1913 132 tao 137 123 136 131 - Vlsitors•..•.••••••••••••••••.•••• number. 6 18,551 715,104 Automobiles entered••••••••••••• numbcr. • 28,997'1" ••••••••• 1, 033,512 + 44.6 1920 27 31 62 42 42 ...... Arrivals from abroad: . 489 •·•••••••• '2.51 1M,863 120,472 + 14.11 1920 3 5 4 16 7 ...... Aliens ...... number. • 68,081 ••••••••·• 6 43,984 356,5117 585,100 ...... United States citi:rens ..•••••••.•. number. • 16,720 +64.1 1913 37 32 87 89 57 ...... - Departures for abroad: - 17,620 ··-·--···· 181,101 180,356 - 0.4 1913 68 64 112 89 72 ...... Aliens ...... number. 23,202 • 18,830 121,550 120,209 ...... United States citizens...... number.• 16,928 ...... ---·--·--- • 15,761 - 1.1 1913 37 23 41 36 45 ...... 143,762 133,600 - 7.0 1913 52 54 60 50 $ ...... PUBLIC 'UTILITIES.

Telephone companies: I Operating re\·enues ...... thous. of dolls .• 46, 1361--········ • 42,489 247,507 258, 116 ...... Operating income •.•.•••••.thous. of dolls •• 10,162 ...... 0 1913 324 328 350 345 351 ...... Telegraph companies: 9,246 53,870 56,127 &32 1913 274 ...... ' I++ .. 249 266 269 268 Comm~rcial telegraph tolls.thous. or dolls •• 8, 848 !•••••••••• • 8, 796 Operatmg revenues .••••••• thous. of dolls. 53,576 54,491 1919 116 118 128 116 116 ...... - ...... 10,979 :...... • 10,850 66,820 67,541 I+ 1.7 ...... Operating income ••••.•.•••thous. of dolls : • 2, 265 + LO 1919 107 110 120 lOll 109 ...... - Centrill electric stations: · 1, 476 !···-·--··· 11,408 9,.348 - 18.1 1919 138 120 118 92 90 ...... ,.... v Production, ~lectric power- I ! Total.. •..•••.•••••mllls. of kw. hours.. \ a4,9561 v5, m 4,754 .. 5 30,107 33,663 + 11.8 1919 147 153 149 11i3 160 Bywaterpower ••• mllls. or kw. hours.:! a)l,682 1,697- ' 1,620 10,166 ·11,040 142 + O.ll By fuels ...... mills. of kw. hours a 3, 274 3,4BO 3,134 + 8.6 1919 116 133 I 121 123 139 1391+ 6.3 Consumption offuels- •• 111,941 22,592 + 13.3 1919 158 155 172 165 161 172 + · C9a!••••.••••••••• thous. or short tons •• "3,393 3,627 6.9 22,067 23,487 + 6.4 116 ou ...... thous. of barrels l a 1,473 1,563 I 3,5571, 2.56 8, 795 1919 123 123 122 118 124 I+ 6.1 Gas ••••••••••.••••••milllons of cu. 9,647 + 9. 7 1919 142 136 150 150 153' 170 + rt:: a 2,513 2,461 2,096 18,030 19,819 2.1 Gross revenue, sales •••••••• thous. of dolls •• 135,100 b 110,500 + 9.9 1919 108 us 162 124 141 573,700 683,800 + 19.2 1913 451 441 489 519 -~~~~ a 42.5 t: .. Revised. b December, 1922, IS Index number I~ than ~- 43 TREND OF BUSINESS MOVEMENTS-Continued.

;..-:---="=occo~==~::-:cc.-co·=.·.--:".··--,-..-=-:===;======---=====;;=~======'=~===

DATA. c: ccPenrt N~!~;,-J!~~~e:~t!'~8sh';~t~r!~io~~~~~ t1~ 1i---~--'--NUMI~IUCAJ, ,.ncc~r~crnst ~ ~~~-~-~~:~--~-U~~E~~~--- SURVEY or are repeated for special reasons· detailed tables covering back figures for the~~ : I' I Corre- CUl!ULATIVF. TOTAl. ( +) : , in· ltemswillbefoundattheendofthisbulletin.: sponding FROM JULY 1 or de·, !lASE I11120 crca. last quarterly issue of the SURVEY (No. 30). ! Decem· January 'I Decem~ , MONTU. ( -) 011 or de· 1112 1 ca1ee '· '! PERIOD. __ ·-- In ma}.y February figure• are , 1~'lf:i. lll~~:·or I I ~~l~?a· ·~-- ,T 1 '(~e now available and may be found in the ! -24 1 Ian. 1peclal table on page :u. /1 1923 ' I 1922-23 1923-21 from • Dec. Jnn. I Oct. I' Nov D~c Jan from ' , 1922-23. I I ' ' ' Dec.

I, --11--,- --1- ---~~-~'----- El\IPLODIENT. f I I ii ' I ' 1 I Number employed, by Industries: li , 1 : 1 1 f~ft~~t~:~~~·.:·.:·.::::::·_::~~!~~~~==· ~~t:i~~ ~~:.~~i ~~~~ M60:~~ ::::_:_:_:_:_._·::_:,,:_:__ ::_: ___ ·-_·-_·:_-_-=_ 1,=_-_-:_:_:_:___ ·=.1. fg~~ l~:t ~~u 1m:~ mJ m:: ::.~ I! l:~ Iron an

e~·J:,==::=~~~~~==Es= ~m ~i 1 ;m ~~==~=~::~rm~=~:~tmJ !I! li:~l~:iti ~:~1 :~l :~1 :~i ~ u ~~i~:~~o:r~~:.~~~~~~======~g:~:~== ~~r:i~~ :~:~~ ~ ~~:~~ :::::::::::::::::::::: 1::::::::! ~~il .::gu ~~u ~~~:~ ~~~~ 1~:~ ~~u = ~g Railway.repafrsh""s·-··------number.. ~· • 2~8, 300 ----·-·---- ...... 1...... -j 1921 lil64. 5 186.2 !'too. 9 196.5 194.8 213.1 + o. 4 M' op ------num er.. 7 •• 217 70,032 1 2,284 ------·-- '------1921 ~~114.1 118.4 120 7 119.0 U8.3 114.8 - 3.0 Numb:~~g::, 457 4, 929 43,222 51,688 19.6 : 1913 952 446 656 679 1,183 4!U - 58.2 r+ 795 300 - 62.2 ~frory Stores Corp...... thous. or dolls.. 3, 579 1, 352 1, 227 11,260 13,644 + 21.2 : 1913 660 273 417 406 · I. Kress & Co .••••••••• thous. of dolls.. 5, 962 2,153 2, 060 19,693 21,380 + 8. 6 : 1913 610 229 332 308 664 240 - 63.11 Restaurant chains: I 115 113 122 115 122 117 - 4..2 rota! sales, 2 chains ______thous. of dolls .. 3,1941 3,062 2,971 20, 180 21,738 + 7. 7 : 1920 tores operated ...... number .• 214 215 199 ------1 ------·· Child's Co ...... thous. of dolls .. 2,079 1, 967 I, 905 13,038 13,912 + 6. 7 i 191~ ~Valdorf system...... thous. or dolls .• 1,115 1,095 1,066 7,142 7,826 + 9.6 1920 Ch am stores: : 2,862 1,273 3,451 3,2i1 3,852 1,576 - 59.1 ~C. Penney Co ...... thous. of dolls .• 8,475 3, 468 2,800 32,125 40,918 + 2i.4 1913 nlted Cigar Stores Co ....thous. or dolls •. 8, 739 5,396 5,440 .44, 509 45,260 + 1.7' 1913 340 221 258 250 355 219 - 38.3 1,331 10,411 12,583 20.9. • 1919 305 198 263 250 377 238j- 36.11 A. Schulte (Inc.) ...... thous. of dolls .. 2, 531 1, 597 + 235 250 222 - 11.2 Jones Bros. Tea Co ...... thous. of dolls .. 2,044 1,815 1,383 10,060 13,262 + 31.8 1913 193 169 242 6,692 7,181 7.3 1913 370 263 360 275 422 282 - 33.0 C Owl Drug Co ...... thous. of dolls •• 1,370 918 856 + 116 1H - 0.11 andy sales by manufacturers.thous. or dolls .. 45,823 45,375 39,958 221,920 238,029 + 7.3' 1920 110 101 93 100 Magazine ad \'ertlsing · i 1, 730 1112,809 1115,321 + 19.6 i 1913 114 141 18t 172 143 159 + 11.4 N(for following month) ...... thous. or lines.. 1, 746 1,9t5 108 130 126 123 110 - 10.1 ewsraper advcrtising ...... thous. of lines.. 102,475 92,172 90,282 643,105 666,952 + 3. 7; 1919 120 P osta receipts 136 148 144 171 1421- 17.0 ,total (50 cities) ...... thous. or dolls.. 31,351 26,031 24,935 167,353 178, 090 + 6. 4 i 1919 159 !\'•Oney orders: Domestic paid (50 cities)- I 72,096 6.3 1919 158 157 146 141 154 140 - 11.3 QuantJtY------·----·------number.. 11,985 10,867 10,2.'\.3 ·67,823 t 128 111 143 134 140 119 - 1{.6 Value ______thous. of dolls.. 111,314 77,642 72,266 ·1 506,683 561, 621 i+ 10. 8 1919 D 1 omestic issued (50 cities)- 11 1919 147 138 150 146 172 160 - 6.8 Qunntity ...... oumber . .i 3,250 3,028 2;619 1 16,789 19,291 I+ H.9 176,000 HJ9, 478 I+ 13. 3 1Ul9 127 125 138 133 147 134 - 8.5 F 'Yal~e ...... thous. of dolls .. \ 31,812 29,118 27,226 i 1919 138 83 179 153 185 93 - 49.5 I t ore1gu lssued ...... thous. of dolls.. 5,491 .2, 773· · 2,472 I 16,342 28,573 i+ 74. s n ema1 -revenue taxes collected: 44, 1011 [+ 14. 3 1919 126 125. 127 130 140 + 7.5 i~eater admlssions ...... thous. of dolls •. • 7, 048 7, 577 6, 766 Ji 38,592 85 81 157 76 411 -39.5 1rearms and shells...... thous. of dolls.. 243 147 261 li 2, 791 2,6041- 6.7 1919 1~ I J ewelry, watches and 1! 1919 128 358 137 138 142 413 +tOO. 7 clocks ...... ~ ...... thous. or dolls.. 1, 700 4, 9t2 4, 285 !i 11,937 14,196 1+ 18.9 . Bond and stock issues I· 25, 115 2. 1 ' 1919 1351 100 1 95 100 117 + 17.0 andconveyances ...... thous. or dolls.. 3,567 4,173 4,831 !i 24,466 I+ 1919 I I~ ,78 51 55 77 88 13.6 Cap!tal stock transfers ..... thous. of dolls.. 788 895 I 794 !i 5, 465 4,348 1- 20.4' + u Cumulatl'l'e ~re for the 8 months' period, July to February, inclusive, b pecembcr, 11122. • Si~ mpnths' ayera~e, Jt¥Y to Decem.ber, inclusive. 44

TREND OF BUSINESS MOVEME~TS-Continued.

NUMERICAL DATA. Per 1,1 INDEX NUMBERS. j I Per NOTE.-ltems mark~d with an asterisk (*) '--·--,------...----;;------,·ncecrneast ej! :.• J,--.,-~------,--- cent ha\·e not been published previously in the !' I In- SURVEY or 3rc rcpt'ntcd for special reasons; CUMULATIVE TOTAL (+) 1 I crease detailed tables covering hack figures for these Corrc- FROli JULY 1 or de- BASE i 1!12• 1923 1921 (+) items will be found at ihe end of this bulletin. sponding I THROUGH LATEST crease I YEAR : -~ or de­ For detailed tables covering other items, see Decem month, l!ONTU. (-) OR I crease last quarterly issue of the SURVEY (No. 30). - January, Decem- I------I• cumu- PERIOD. '--l----..------.,---.--+--- (-) 1lpll[:j, 192{. ber, I Jative I il I Jan. In manu cases February figures are 1922, or 1923-U 1 ' 11 now arailable and may be found in tile January, · 1922-23 1923-2{ from , ! Dec. Jan. il Ort. Nov. Dec. Jan. from Bpecial table on page Zl. 1923. 1922-23 \ I Der. 1 I 1---11---1---11--·1--1 ------PUBLIC FINANCE. ~------I ! I

86 86 86 - 0.3 87 86 86 - 0.3 !Ill! :2=-.- 31:095:2:::fl75:84::11_:t-:::43=.. = 93::11 ::3 lfl 3J8!2 CustomsGovt~~~l?i~!~~~{~·-~~:::::::::~ill~: rcceipts------·------thous. of~~ dolls~~ll~::! .. ! 40,946~~: ~i 40,019~l: m 46,346iH~~ 11:2:,:084~i:: 2008:;~: _ ~1!9i1i3 l 17.~i:3 13~54! 176 154 151 - 2.3 316 956 Toto! ordinary receipts ______thous. of dolls.-! 576,317 183,307 1 213,558 304 - 68.2 1 Expenditnrcs chargeable to J 1, I I 1 3 I 706 424 663 431 35 o ordinaryrcccipts •••.. ______thous.ofdolls •• 400,939 260,76511 267,672 2,122,164 2,136,080 I+ 0.71 1913 563 44 ! ..,. · 1 1 1 l\Iol!fKt~Y-~~~~~~~~~~~: ______.mills. of dolls .• ! 4,951 4,~21 !o~~ '·:::::::::: :::::::::::1::::::::1 :~ mg ~ 94 I 1~~ ~ ~ ~~ : ~J l'er;:~t;~~~-~~;-;;~~~~~:ollars__l 44.22 41.17/ - 90 I

11 nanking. I I 1: 1 1 Debits to individual accounts: 1 ' 1· NewYorkCity ______mills.ofdolls .• 22,081 22,014! 22,087 141,502 134,539 +- 4.9 1919 102 109 II 94 1!8 109 108- 0. Outside New York City ___ mills. of dolls.. 20,367 19,395 1 ~. 123,375 130,783 6.0 1919 112 112 ii1 113 106 116 111 - 4. Bank clearings: ;;-,;;;;ti:; oJ.t ¥"'! v 1""- · N y k c·t ·11 r 1 11 19 49" T:lo 680 1 10 7"8 128,237 122,456 I 4.• > : 1913 210 20.1 i 2'25 229 247 262 + o. o~fsid~~e.:tork·c-iiy.-::~111~: ~r:1g11~:: 15;s97 Io;I35 i 16;58s I00,612 100,012 + M: 1913 202 289 285 263 277 281 + 1. Red era! Feserve Danks: :.1 1 I Dills discounted ...... mills. ofdols.. 857 522 J~~ ------· ------~/------· 1919 33 3I 40 41 44 27 - 39. 2 Y4 114 85 86 89 77 - 13. 119 92 50 63 74 66 -II. 1 . IH 147! 140 146 143 149 + 4. 98 101 100 IOO 103 + 2. 144 f~ I 152 152 146 162 + 11. :_.• ___ :: ,,,~.~~f~~~~gj~~!:: .~ .~~ ..~ !:_~_:_~_.~_~_:_.?:_ _~_:_:_:_:_:_._-~_1, :_~_: :_:_:_~_.11 95 96 I 100 100 100 100 - o. Total investmcnts •••• ______mills. of dolls__ 4,555 4,460 4,849 143 135 133 135 I33 - 1. Net demand deposits ______mills. of dolls.. 11,034 11,239 11, .';37 ------·------~~ ------· 1919 106 ~t.i I 106 105 1M 106 + 1. 149 137 ! 148 151 144 143 - o. 7 80 so 1 s9 ss s6 u - 2.3 I II 116 117,I23 124 126 126 o. 0 :_::_;_;_:_. :_:_:_. :_.:_:_:__ :;_;_:_1;_:_::_:_:;_:_;_;_:,,1 .1 109 111 . 116 117 117 118 + 0.9 =.~2f~~~~;it:rt~t~ t~~ t~~ ~~·:_:_:_;_;_:_. ::;9~20I~ 118 118 122 122 126 125 - 0.1 112 113 liS 119 123 124 + 0. 8 118 119 I 128 132 135 133 - I.3 124 126 !1. 129 129 130 130 o.o ---·-· 120 1 129 129 131 129 - 1.3 =_-;_- :_= __ __= __ ., :11 109 109 ! 116 117 119 119 - 0. 7 ~~~~r~~Bt]:>t. Lou1s, 33 banks .••• thous. ~~~~~~of dolls •• i.I34,823 ~ 135,025~ ~ iI25,229 m !.-~-~-~-~=--=---~=-- --~-~--~ =_~:_: =:_:~--~- ~- ~-=--~-~_:_-_~_~:.. ~9;~202~ 137 1381145 146 149 149 + O.l :\Iinneapolis, 15 banks.thous. or dolls_- 0 92,410 92,303 a 86 220 I I i 1920 117 120 126 126 129 1.29 - 0.1 Kansas City, 56 banks.thous. of dolls __ , 109,265 108,714 10i 5581_:_:_:_: __._: __-_: __-_: __- _:_:_: __-_:_::_: __ : __-_: -_._:_::__ --: __ :_:!' 1 920~ 127 127 129 I33 135 134 - o. 5 D:lllas, 85 banks. ______thous. of dolls __ / 63,870 64,526 54,739 1 122 122 137 141 . 143 144 + 1. 0 San Frunclsco,74 bnnks.thous. of dolls __ ! 980,205 9i9, 938 864,077 1 123 123 137 137 140 140 1 5 I o. 9o U.S. Postal Savings ______thous. of dolls •• 13I,518 130,277 131,566 1:::::::::=: ::::=:==::: 1::::::::! 1913 333 331 II 335 334 331 328. - 0. Life Insurance. j Policifs, new: . . I Ordinary_ -·-----··-·---thous. of pohcws __ 213 160 152 1,091 1, 213 + 13.9 1913 2.'\0 20ii 238 245 288 2161- IndustriaL------·--·thous. of policies __ 1 682 767 II 2~· ~ Group ______number of policies •• 547 3, 968 I9I3 172 144 II 1i6 173 I7Y 202 ! 403 60 732 4,~~ I~ 1~J ~ ~S:4 Total insurance ______.thous. of policies .• 895 699 5,060 5, 751 I+ 13.1 1111 + 3.6 Amount of new insurance: ---iiiia··- --~ss- --i&dhso· --~ss- ··204· Ordinary --·------thous. of dolls __ l 565,756 398,150 2, 796,581 3,252,174 +16.3 1, 1913 385 302,1337 358 429 341 -20·4 IndustriaL __ --····-----·--t.hous. of dolls __ I53,1M 112,678 819, 7I6 I, 016,546 + 24.0 1 1U13 , 265 2Ii i 293 283 2'Jii 346 + ~;· ~ Group ••. _____ . ______thous. of dolls .• 196,808 8, 727 13,701 147,909 274,872 + 85.8 1. 1913 14 549 948 'I 498 l!:ll 13,620 6l» - 30.•• Total insurnnce ______thous. ofdolls __ 915,718 ~~~,I l 637,381 524,528 3, 764,205 Premium collections: 4, 543, 591 + 20. 1 19I3 . . 384 2S:l 'I a2u 342 494 344 - • Ordinary ---·------thous. of dolls .• 112,119 100,650 IndustriaL._--· ______thous. of dolls __ 89, i60 587,914 . 658,706 + 12. o 1 1913 280 21a 210 251 303 212 - w. Group ______thous. of dolls •• 48,8041 29,867 28,002 191,782 ••+~7 ~ • ~I~ w 2,487 2,278 I, 723 9,855 1 1 m m-, TotaL ______thous. of dolls .. 163,410 13,246 + 34.4 19I3 5 858 .) .)58 ' 6 177 6, 232 8, 023 7, 34;, : IS: 132,795 119,485 I 789,552 so5, m + 13. s , 19I3 I •298 • 250 ~~~ • ze1 259 342 278 Business 1-"luances. j Business failures: i I I ': I Firms ___ ·------·------number•. 1,837 14 8 2,1os I 2.120 i 12,412 II,098 - 1o.a 19I3 13o lu9 ii 12:; I28 138 1511 + • I.labilities •• ___ •• -----..••• thous. of dolls •• 5I,615 51,273 ' 7 Total divide_nd and interest payments 49,210 : 299.389 331,237 + 10.6 11113 256 21-• ., 349 221 W-i 226 - o. (for followmg montb) .•••••.. thous. of dolls •• 420,025 185,565 5 8 Dividend payments (for following mo.) 175,905! 2,329,953 2,356, 711 + I.1 1913 310 119 1 173 198 284 125 _; 5. TotaL ______thous. of dolls __ 151,240 76,640 1 110 Indus. and misc. corp ••.••• thous. or dolls 62,375 41,895 74,805 1. 664.892 688,551 + 3. 6 19I3 204 107 tl ~~ 2 9 -~ 21-1 : ~u 40, 775 1 366,540 377, 68I + 3. 0 1913 2 109 + 9. 2 Steam raHroads ______.thous. of dolls:: 25,750 153 106 2 1 32 16 N"e>~l~e~/allWf!YS •• ______thous. of dolls __ I5,565 ~:~~I' 1~:~~ 1~~:~~ +~g :~g ~og I :~ 1;1 ~i~ ~ ~~ m- 57.4 Credit conS?t~~~~-----·------thous. or dolls •. 955,632 s~~g I 009,694 ' 5,114,800 4,912,398 - 4.0 1013 472 528 409 471 555 510 - s.o Orders ______per ct. of total transactions __ 18.5 29. 511 ______··------1916 100 11071 109 101 67 1: lndebtedness.per ct. of total transactions •• 43.0 38.925.8! ·~ ~:~ Payments_ .•• per ct. or total transactions •• 1 4 57.0 M.i I ~u 1 =:::::::::: ====::::::=1 :::::::: m~ ~ I~ 1 n~ ~~~ ~M 99 :- s a Rev1sed. '12 months' average, July to June inclusive, ending the year indicated. " Relative to June 30, 1919. 45 TREND OF BUSINESS MOVEMENTS-Continued.

NUMERICAL DATA. I NOTE.-ltems marked with an asterisk (•) INDEX NUI\IHEHR._ Per have not been published previously in the . ---1 ---..----...-----~7~------•mcrease!e~~ (.'t'lll SURVEY or are repeated for special reasons; 1!1• detailed tables covering back figures for these Corre- CUliULATIVE TOTAL (+) sponding FROl! JULY I or dr.· BASE cn•ase items will be round at tho end of this bulletin. II 1922 11124 <+) For detailed tables covering other items, see month II THROUGH LATt:sT crease n:AJt or de.. last quarterly issue of the SURVEY (No. 30). Decem- January, Decem: . MONTIT. (-) OR her, 1924. ber, ---· ------cumu- rERIOD. <'rt"m•e 1923. 'I ---,--I (-) In many case.s_ February ligures are 1922, or now available and may be found in the 1~iJ~it i I I I Jon. •peclal table on page 24. Jar~~:Y· 11122-2s 11l23-2t l!J~~ l>ec. Jan. Oct. Nov., Dec. Jnn.l f1r>om r I '"'· ------,---~-1-I i-J BANKING AND FINANCE~Continued. New Capital Issues. I ! Total corporations (Commercial and }'inanctal Chronicle): ·Purpose of issue- New capital...... thous. of dolls .. 2i2,103 276,906 • 444, 12.~ I, 391,706 1, 461, 89t + 5.0 1920 so 197 I 94 143 120 123 il+ 1.S Kln~~~~~~~--...... thous. of dolls .. 14,875 27,792 Iii, 926 542, 898 153, 704 i- 71.7 1920 128 833 88 305 70 130 Jl+ S6.fl Stocks ...... _.. thous. of dolls .• 104,408 05, 937 • 135, 534 469,323 364, 98' - 22.2 1920 00 152 37 107 117 74 !- 3G.Ii Bonds and notes...... thous. of dolls .. 182,571 238, 762 487, 515 1, 466,281 1, 250,609 - 14.7 1920 80 300 125 185 116 Bond issues classified­ 151 li+ 30.8 Railroads- 144 New capital...... thous. of dolls .. 12,007 45,608 50,802 146,145 273,817 1+ 87.4 1919 263 611 795 11000 .519 11+279.8 Refunding...... thous. of dolls .. 9,500 None. 4,000 54,202 27,660 49.0 1919 273 136 434 !51 au ~one...... Public utilities- . 1- New capital...... thous. of dolls .. 76,166 10-l,803 66,940 237,646 460,697 + 93.9 1919 170 686 678 1,386 781 1, 074 I+1 31. G Refunding...... thous. of dolls .. 1,175 20,375 44,833 151,854 96,376 - 36.5 1919 51 948 95 1,196 25 431 . "-54.5 Industrials- New capital...... thous. of dolls .. 28,025 14,760 167,149 335,268 191, 705 - 42. 8 1919 208 1,576 3.';8 349 264 139 il_ 47.:1 Refunding...... thous. of dolls .. 2, 750 5,568 49,601 79,203 14,582 - 81.6 1919 105 5,200. 145 394 2'J2 590 +102.5 Total corporations (Journal of Commerce) ..... ______...... thons. of dolls .. 305,827 250,883 632,784 2, 186, 188 1, 758,219 - 19. 6 1913 316 461 180 273 223 183 1- 18.0 States and municipalities: Permanent loans ...... thons. of dolls .. 132,167 72,534 98,816 644,212 581,815 - 9. 7 1913 275 200 298 286 388 2131- 45.1 Temporary loans .. _...... thous. of dolls .. 90,674 10,163 48,665 278,723 318, 120 + 14. I 1913 87 121 15 72 225 2s~-&t8 Agricultural Loans. By land banks: Total closed_ ...... thous. of dolls .. 23,121 23,747 46,445 253,868 165,587 - 34.8 1919 254 291 186 125 145 149 + 2.7 Federal farm loan bauks ... thous. of dolls .. 16,462 16,454 21,501 131,084 103, 242 - 21. 2 1919 169 185 124 121 142 142 0.0 Joint-stock land banks .....thous. or dolls .. 6,659 7,293 24,944 122,784 62, 345 - 49. 2 1919 483 577 352 136 154 169 + 9.5 B Y War Finance Corporation: With banks and livestock loan companies- 41-48.9 Advancements ...... thous. of dolls .. 974 498 3,346 16,462 3,210 - 80.5 1922 13 24 4 2 7 2,325 13,011 82,150 34, 213 - 58. 4 1922 129 147 84 i4 71 26 -62.9 Repayments ...... _... thous. or dolls .. 6,268 41 40 - 2. 7 .. Balance ...... thons. of dolls .. 6i, 903 66,075 127,072 1,10!!, 890 557, 409 - 49. 7 1922 82 76 48 44 \" 1th cooperative market associations- 14,394 2,537 - 82.4 1922 255 95 20 26 8 - 69.5 ' Advancements ...... thous. of dolls .. 440 134 1,607 82.8 239 1,212 8,074 9,150 13.3 1922 166 60 86 100 17 - · R:£ayments...... thous. of dolls .. 1,390 + ~I 45 32 30 - 4.7 B ance ...... thous. o! dolls .. 2,249 2,143 12,172 52,970 26,863 - 49.3 1922 166 57 Stocks and Bonds.

Stock prices, closing: 175 181 187 193 + 3.0 108.88 112.14 110.35 1913 187 ~ in~ustrials, average ....dolls. per share .. 1913 74 ::Ii4 69 70 70 73 + 3.6 61.71 ofa1lroads, average ...... dolls. per share .. 58.25 60.35 114 112 100 104 107 110 + 3.2 1 90.15 93.00 94.67 ::::::::::: ::::::::::: ::::::::1 1921 Stock s~~c;ts, average ... ~ .... dolls. per share.. ' 1913 284 292 228 326 348 401 + 15.4 Nd · Y • Stock Exchange ...thous. of shares.. 24,067 27,762 20,208 143,232 130,615 - 8.8 i B on sa1 es: - 22.3 I 1910 249 300 204 228 238 355 + 49.3 £{~cellaneous ...... thous. of dolls .. 169,750 253,394 214, 185 11, 389, 556 1, 079, 131 28 29 39 34.4 76, 239 728, 640 454, 776 - 37.6 I 1919 45 32 33 + T e~ty-Victory ...... thous. or dolls .. 68,220 91,693 1919 92 94 i2 74 77 112 + 45.0 ots...... thous. or dolls .. 237,970 345,087 290,424 2, 118,196 1, 531,907 - 27.71 Bon d pnces: . 92 93 84.46 ...... 1915 94 94 92 93 + 1.1 r•ghest-graderails.p. ct. of par, 4% bond .. 82.73 83.59 93 92 88 88 89 01 + 2.2 68.43 69.82 ...... 1915 p;::gfd·gradc rails ..p. ct. of par, 4% bond .. 67.31 1915 93 93 88 87 88 90 + 2.3 64.63 66.12 68.34 ...... lndu!c ~tility ...... p. ct. of par, 4~ bond .. 1915 1~ 106 101 102 102 104 + 2.0 C tnal...... p. ct. of par, 4'1o bond .. 71.99 73.09 74.43 97 96 02 92 93 94 + 1.1 72.23 1915 t~· price index.p. ct. or par, 4% bond.. 71.04 1921 107 107 105 106 106 107 + 0.11 5 l rty bonds_ ...... p. ct. of par .. 98.82 99.50 I 6 f!Jretgn government and 1921 109 107 108 107 107 lOS + 0.11 mty...... p. ct. of par.. 99.15 99.60 ::: ,1::::-:::::::i::::::::::: ,:::::::: 1921 111 110 109 !09 109 110 + 0.11 Comb. price index, 6i bonds •• p. ct. or par .. 93.03 93.99 94.26 ...... 1913 0. 93 99 98 llS 117 1.0 Municipal bond yield • ...... _... per cent .. 4.37 4.32 Gold and silver. Gold: ~--·::: ···::I·~:- 1913 56 471 60 73 &l 60 - 18.0 74,392 ..: 106 106 109 2.3 Romestic receipts nt mint ....fine ounces.. oo.gg 764 5,336 5,412 i+ 1.4 1913 108 lOS + and output.·...... , ...thous. of ounces .. 797 1913 498 562 749 615 851 + 38.4 1 32,641 45,170 32,820 184,977 236,015 '+ 27.6 ' 10 II 2·-75.3 Emports ...... thous. of dolls .. 8,472 35,204 7,529 J- 78.6 I 11113 35 17 Sllver~llOrts ...... thous. of dolls .. 712 176 ml 1013 91 98 88 85 94 + 10.0 roduction ...... thons. of fine oz .. 4, 748 5,221 5,190 35 501 35,978 I+ 1. 3 I 263 232 176 273 198 - 27.5 5, 825 41, 739 51, 3481+ 23. 0 1913 ~nports ...... thous. of dolls .. 8,172 5,928 1913 132 132 II 144 168 182 155 - H.7 9,521 8,121 107 1~ 106 107 106 2.0 p1ports ...... thous. of dolls.. 1 .... 1913 lOS r ce at New York...... dolls. per fine oz .. .647 .634 6:~~ ~::~~:. ----~~:~~- ~-~::~.111 1913 114 115 1 1111 121 122 + 0.5 Price at London ... pence per standard oz .. 33.375 33.549 31.9281------...... m1 • As of tlrst or following month. • Revised. 46 TREND OF BUSINESS MOVEMENTS-Continued.

1 i INDEX NU.!\IBERS. NUMERICAL DATA. 1'1 Per I' i Per NoTE.-Items marked with an. asteri~k (*) -----.----;-;----....,,------cent cent have not been published previously ID the increase,· .--.------.--11 SURVEY or are repeated for special reasons; I CUMULATIVE TOTAL I <+l j in· detailedtablescoveringbackftgur~sforthese i Corre- FROM JULY 1 or de- BASE ; 1922 1923 1924 (~e items will be round at the ~nd ofthl~ bulletin. i sponding THROUGH L.,TEST crease YE,,R OR or de­ For detailed tables covenng other Items. see Derem· January, ,' ~~~~~ liONTH. H 1 crease !\------,------PERIOD. last quarterly issue of the SURVEY (No. 30) ber, 1 b cumu- I (-) 1923. 1924. er, lative 'I ln many ca•e• February llgur'!• are 1022, or 1923-24 1 1ao norD a~ailable and may be found m tile January, 1922-23 1923-24 from ! ; Dec. Jan. ! Oct. Nov. Dec. Jan. from •pecial table on page Z4. 1923. 1922-23. i i i Dec.

-;,:~:-=~-=·.. ~=~... < .. ~--: i--:1_-_- __-_- __-_- __- __------~lrll-_- __- __-_-::~ -~-~~---~-~-: :-9-5 --r -9-3,--90- --~-7 -~-. =1~J France...... dolls. per franc.. ·~ -g:~ :~~ ...... ~---·-- 'I Par val ~ ig I' ~I ~ 23 23 0.0 ~~~~¥a~~-:::·::·:·:·:-::::~ii~~~hn~~~~:: :~ :~! :~g~ ::::::::::: :::::::::::111::::::::' i=~: ~r:: ~ 31 ~I ~ ~~ ra = t~ sweden ...... dolls. per krone.. .263 .262 .269 ...... ------· ------:· P:::· val· ' 101 1: : - 0.4 I 93 ~ ~ Switzerland ...... dolls. per franc.. .175 .173 .188 ...... , • • 1 98 97 - 1.1 Asia:Japan ...... dolls. per yen.. ,470 .449 .487 ...... i' I Par val : 98 98 I 98 97 94 90 - 4.5 ··------····1------, · 6 Am!~~;------··------dolls. per rupee.. .310 .3~ , .317 ...... 1...... :ar. •:-,· 63 6511 64 63 64 63 - 1. 1 1 Canada ...... dolls. per Canadian doll.. . 976 • 9,4 1 • 991 ...... ------~------I Pa~. ~al·, 100 991 ~ 98 ~~ ?~ + t: .-l.rgentinn ...... dolls._per gold _P~O-- '723 • 737 J . 847 ...... ,...... P:r· val· :: g~ ~ I' 29 ~ 29 34 -+ 17 2 Brazil...... dolls. per milreis.. . 093 .109 I .114 ...... -··------~------· · 'I i _ is ChUe ...... dolls. per paper peso.. .107 .104 .128 ...... Par. val. I ~ 1i 60 67 :;;1 53 _ • ······----·j·----·-- U 63 61 59 1 7 Oenerali~~e:~o;:;;:~-;~:~:~umber ...... ------~------·---·· ...... Par. ;al.ll; j

11 1 Imports. 11 I : I Orand total ...... thous. of dolls •• 288,067 295,549 329,254 2,022,593 1,999, 799ll- 1.1 1913 1 197 220 ,I 206 195 193 198 + 2.

By grand divisions: ,1,' 11 Europe- ' '' 1 Total ...... thous.ofdolls.. 93,351 88,018 103,575 653,291 633,263 ;- 3.1 1913 ~~ 135 1 ~ 1 147 130 130 122 - li. 7 France ...... thous.ofdolls.. 13,153 10,818 14,275 89,391 84,WO ,- 6.0 1913 I; 102 1 3 j 138 110 114 93 - 17.8 Germany ...... thous. of dolls.. 13,688 11,245 13,789 78,917 94,820 1+ 20.2 1913 I 70 ~ II 102 87 89 73 - 17.8 Italy ...... thous.ofdolls.. 8,778 5,992 8,597 45,282 51,991 + 14.811913 195 1 . 201 234 19) 130 - 31.7 UDitedKingdom ...... thous.ofdolls .. 28,987 30,835 33,579 235,090 199,290 -15.2 1913 137 148 1 145 122 128 136 :+ 6.4 North America- 1 li Total ...... thous. of dolls.. 68,080 75,197 71,445 499,072 517,105 + 3. 6 1913 1, j 206 220 1 268 226 210 231 '+ 10.5 35,936 31,948 30,597 243,041 249,134 2. 5 1913 312 258 'I 320 325 303 270.- 11.1 Canada ...... thous. of dolls.. + 1 South America- Total ...... thous. of dolls.. 36,601 37,967 41,455 243,487 235,576 - 3.2 1913 I' 237 251 ! 224 211 222 230!+3. .Argentina...... thous.otdolls.. 4,256 4,098 11,676 62,793 37,994 -39.5 1913 450 548 I 248 172 200 192 '- 3. Asia and Oceania- I Total...... thous.ofdolls •• 82,442 82,680 95,050 577,966 575,781- 0.4 1913 i 310 361 I 288 321 313 314 ·+ 0.3 1apan ...... thous. of dolls.. 32,844 34,812 31,041 231, 114 209,361 - 9. 4 1913 i 402 376 296 349 398 422 + 6.0 Africa, total ...... thous. of dolls.. 7, 593 11,686 17,729 48,778 38,074 - 21.9 1913 461 896 H4 256 384 591 '+ 63.9 By classes of commodities: 1 I Crude materials for use in I I I[ mnnutacturing ...... thous.ofdolls •• 102,783 105,634 139,094 798,130 677,569 -15.1 1913 246 276', 183 194 20l 209 + 2. Foodstuffs In crude condition 1 I ~- andfoodanimais ...... thous.ofdolls.. 35,434 32,631 28,613 199,085 213,575 + 7.3 1913 170 155 185 218 192 177 - 7. 9 Foodstuffs partly or wholly 1 + ,7 manutactured ..... , .....thous. of dolls.. 27,617 38,586 31,269 223,li85 253,670 + 13.5 1913 159 189 1 291 216 167 234 39 Manufactures for further use in manufacturlng...... thous. of dolls.. 54,l30 58,032 64,650 382, 582 383,778 + o. 3 1913 205 228 203 179 191 205 + 1. Manufactures ready for 1 consumption ...... thous. of dolls.. 64,855 58,029 63,935 405,509 453,539 + 11.8 1913 153 186 214 186 189 169 - 10. Mlscellaneous ...... thous. of dolls.. 3,24S 2,637 1,693 13,702 17,668 + 28.9 1913 142 137 222 232 263 214 -18. Elports. Orand total, including ~port.s ••••••••....•••••••• thous. ot dolls •• 426,799 395,170 335,417 I 191 ~ 7. By grand divisions: 2,346,591 2,617,531 + 11.5 1913 162 1 194 193 206 Europe- 1661 Total ••••••••••••••..• thous. ot dolls •• 246,335 202,671 189,712 1, 276,309 1, 347,590 162 - 17.7 France •••••••••••••••• thous. of dolls .. + 5.6 1913 149 1521 172 174 197 29,977 23,128 23,286 172,225 175,173 + 1.7 1913 182 248 245 234 ISO - 22.8 Germany •••••••••••••thous. of dolls •• 32,395 40,966 26,086 175,419 + 26.5 Italy ...... thous. of dolls •• 214,004 + 22.0 1913 112 97 110 140 19,839 16,858 11i,489 112,488 107,932 - 4.1 1913 2441~ I 292 278 303 257 - 16.0 United Kingdom •.•.••thous. of dolls •. 122,995 84,863 83,589 526,280 -31.0 North .America- 586,599 + 11.5 i 1913 163 Nij 181 203 250 172 Total .••••••.••.•••••• thous. of dolls •. 80,064 74,581 78,293 584,623 622, 053 + 6. 4 1913 179 169 160 149 6.8 Canada •••••••••••••.• thous. of dolls •• 45,340 40,750 48,832 170 1 121 - 10.1 South America- 377,485 363, 215 - 3. 8 1913 157 156114li 154 136 135 Total ••••••••••••..•• ,thous. or dolls .. 19,230 23,874 21,326 144,808 157, 958 + 9. 1 1913 181 I 175 192 157 196 .Argentina ...... thous. of dolls •• 6,308 8,959 9,217 59,841 196 1++ ....~~~ Asia and Oceania- 62,937 + 5.2 1913 215 201 201 137 Total •••••••••••••••••thous. of dolls •• 76, 155 87,004 ·U,606 308, 705 453, 382 + 46. 9 1913 240 405 440 502 + 14.2 Japan ...... thous. of dolls •• 37,571 47,637 13,362 ! 915 + 26.8 Africa, total •••••••.••.••••thous. of dolls .. 115, 869 201, 408 + 73. 8 1913 I~ 257 674 721 5.016 7,039 4,479 32, 145 36, 549 + 13. 7 1913 157 193 208 Total, domestic exports only ••• thous. of dolls .. 421,148 389,054 330,777 186 m :!: ·~.J By classes of commodities: 2, 311, 062 2, 573, 802 + 11. 4 1913 166 162 193 206 191 Crude materials for use in I manutacturing...... thous. ot dolls •• 182,423 132,749 102,073 ' ~7 - '11.2 Foodstuffs in crude condition 667,805 882, 809 + 32. 2 1913 li 177 150 251 285 and food animals ...... thous ot dolls .. 14,874 13,792 24,218 98 - 7. Foodstuffs partly or wholly 282,754 135, 453 - li2. 1 1913 i! 184 171 154 102 105 manutactured ...... thous. of dolls .. 56,727 59,319 50,742 338,234 345, 649 2. 2 194 210 220+4.6 Manufactures tor further use + 1913 !1183 188 189 in manutacturing...... thous. of dolls •• liO, 881 54, 627 43,235 Manufactures ready for 252,352 340,617 + 35.0 1913 131 139 143 154 165 + 7.4 consumption ...... thous. ot dolls lOS 6 115,6561127,928 109,618 765,592 865, 643 13. 1 : ~~~~~ 182 178 196 + 10. Miscellaneous ...... thous. ot dons:: 587 639 891 + 1913 175 168 190 9 4,325 3,631 - 16.0 1913 119 132 8S 141 87 95 + 8. 47 TREND OF BUSINESS MOVEMENTS-Continued.

NUMERICAL DATA. Nou.-Items marked with an asterisk (•) Per INDEX NUMBERS. bave not been published previously in the cent r Per increase I SURVEY or are repeated for ~eclal reasons; CUMULATIVE TOTAL detailed tables coverin~ back gures for these Corre- <+> I. creasecr~t Items will be round at t 1e end of this bnlletln. spondlng FROM lULY 1 or de- BASE THROUGH LATEST crease 1922 1923 1924 1 <+> For detailed tables covering other items, see month, YEAR or dl~ last quarterly issue of the SuRVEY (No. 30). Decem· l!ONTH. (-) OR ber, January, Decem- ' crea.~ 1924. her, cumu- PERIOD. 1923. lative In many case• February figure• IU'e .1922, or I Jan.(-) now available and mag be found in the January, 1923-24 •pecial table on page Zl. 1923. 1922-23 1923-24 from Dec. Jan. Oct. INov. Dec. Jan. 1922-23. ------I~ TRADE AND INDUSTRY OF FOREIGN 1--I COUNTRIES. I U~lted Kingdom. i ,- Imports (value): Total ______thous. of£ sterling •• I 109,189 101,258 99,700 616,616 660,165 7.1 1913 148 1M 156 159 170 158 7.3 Food, drink, tobacco.thous. or£ sterling •• 47,018 40,739 285,942 + I - 47,398 296,7118 + 3.8 I 1913 175 1116 185 194 194 168 - 13.4 Raw materiaL...... thous. of£ sterling•• 39,959 39,208 30,288 199,645 209,070 + 4.7 ! 1913 138 129 131 137 170 167 - 1. 9 Manufactured articles.thous. or£ sterling •• 21,632 20,960 21,707 139,007 151,487 9.0 1913 123 135 147 138 134 130 Exports (values): + ' - 3.1 I j Total ...... thous. of£ sterling •• 64,115 64,235 66,939 435,674 448,884 3.0 1913 135 153 163 150 146 147 0.2 Food, drink, tobacco.thous. or£ sterling •• 4,430 4,515 3,364 20,699 28,971 + I + + 40.0 I 1913 103 124 176 172 163 166 + 1.9 Raw materlal ...... thous. of£ sterling•• 10,056 9,530 9,372 65,217 72,636 + 11.4 1913 163 161 199 182 164 6.2 Manufactured artlcles.thous. or£ sterling •• 48,0!2 48,782 53,135 341,006 339,157 0.5 I 1913 131 155 157 144 140 142 - 1.6 Reexports (values): - I + 9, 798 57,904 TotaL ...... thous. of£ sterling •• 10,397 13,311 68,064 + 17.5 I 1913 93 107 122 111 114 146 + 28.0 Food, drink, tobacco. tbous. of £ sterling_. 2,627 3,236 1,687 10,237 17,096 + 67.0 I 1913 105 127 251 213 "'I198 243 + 23.2 Raw materlal .••••••••thous. of£ sterling •• 5,063 6,920 5,938 32,571 33,699 + 3.5 I 1913 93 111 96 91 95 130 + 36.7 Manufactured articles.thous. of£ sterling•• 2,689 3,141 2, 172 15,052 17,207 + 14.3 ! 1913 86 88 110 100 uo 128 + 16.8 Export.~ of key commodities (quantitle~): I Cotton piece goods ••••••thous. of sq. yds •• 323,551 354,000 400,698 2, 734,028 2,392, 386 - 12.5 1920 98 108 100 95 87 116 9.4 Woolen and worsted + tlssues ...... thous. or sq. yds •• 19,134 22,656 22,280 117,933 133,243 + 13.0 1920 79 100 75 77 86 102 + 18.4 Iron and steel •••••••••thous. of long tons •• 355 338 354 2, 217 2,443 + 10.2 1913 82 86 94 95 86 82 - 4.8 Coal ...... thous. of long tous •• 6,874 5,441 5,647 42,662 45,081 5. 7 1913 97 92 122 109 96 89 - 7.4 Production: + Pig lron •••••••••••••••thous. of long tous •• 627 632 568 3,319 4,264 + 28.5 1913 62 66 69 70 73 74 + 0.8 Steellngots ...... thous. oflong tons •• 653 690 624 3,886 4,697 + 20.9 1913 85 98 110 117 102 108 + 5.7 Coal •••••••••••••••• thous. of metric tons•• 21,872 20,915 24,020 156,867 16D,385 2.2 1913 91 99 106 104 90 86 4.4 ...... & ______+ - Stocks, zlnc...... short tons •• 1,333 1,219 441 "1920 3 2 5 6 5 5 - 16.7 ~------.. -· -·-----· Employment: Trade-unlons.p. ct. employed •• . 90.3 ...... 86.3 ------··-- ...... 1913 88 88 91 91 92 ...... Belgium. Production:Zinc ______•••••short tons •• 15,201 15,366 11,739 80,6116 97,327 + 20.6 1920 168 152 180 184 196 199 + 1.1 canada. Total trade: lmports ...... thous. of dolls .. 65,456 66,468 68,086 469,860 507,600 + 8.0 1913 126 122 136 129 117 119 + 1.5 E Export.'------thous. of dolls •• 124,916 70,355 65,635 632,645 670,142 + 5.9 1913 357 209 322 442 398 224 - 43. j' xports of key commodities (quantities): Canned salmon••••••••• thous. of pounds•• 5,334 5,228 2,239 23,706 33,583 + 41.7 1913 170 127 475 478 3Gi 298 - 2.0 Cheese•••••••••••••••••• thous. or pounds .• 8,036 2,278 3,142 102,231 104,584 + 2.3 1913 68 24 171 122 62 16 - il. 7 P Wheat ...... thous. orbushs.. 57,378 12,322 9,740 173,625 192,352 + 10.8 1913 485 116 347 766 685 147 - 78.5 roduct!on: Pig iron...... thous. or long tons .. 60 64 41 234 "510 +117.9 1913 43 49 88 74 71 76 + 6.7 B Steel ingots ...... thotL~. orlong tons .. 41 41 48 ·360 449 + 24.7 1913 54 55 77 63 47 47 0.0 Ban~ clearings ...... mUls. of dolls •. 1,518 1,339 1,295 9,355 10,602 + 13.3 1913 194 167 282 239 1116 173 - 11.8 on issues: Govt. and provlnclaL ••••• thous. of dolls •• 140,892 8,300 8,450 185,650 248,342 + 33.8 1913 3,246 191 908 204 3,186 188 -41.1 Munlcipal ...... thous. of dolls •• 1, 775 21,545 15,904 53, 519 40, 391 - 24.5 1913 130 165 21 18 18 2"..3 + 21.4 219 280 123 347 819 +135.9 E Corporat!on ...... thous. of dolls •• 21,410 50,510 I 13,536 45, 229 106, 163 +134.6 1913 168 IDPloyment: N Total, 1st offol'g mo••••••• lndex number•• ...... ---··--·--- Jan., '20 86.3 89.5 98.8 95.7 88.7 110.6 + 2.1 ewsprlnt Esper: 170 165 142 163 H.S :roduc ion ••••••••••••••••••••sbort tons •• 95,726 109,876 ; 99,.342 . 669,387 751,917 + 12.3 1919 138 148 + 100,624 107,966 94,585 663,502 747,853 1919 147 139 166 163 148 159 I + 7.3 hlpments...... short tons •• 120 131 ' 9.1 8 15,123 16,493 11,614 1919 61 92 160 + Etocks ...... ------...... short tons .. !55 150 182 1871591 172 - 1.2 Bul!d~rts (total printing) •••••••short tous •• 94,824 93,708 82,789 ------584, 965·r--- 680,------906 1919 ~-~~~-I 1913 164 1 31 94 49 I~ I-69.6 contracts awarded •• ~.thous. of dolls •• 21,507 6,539 9,841 189, 233 157, 470 - 16.8 671 I i 11 Nine months' average, April to December, inclusive. 48 EARNINGS AND HOURS OF LABOR.'

I AVERAGE I AVERAGE I WEEKLY AVERAGE WEEKLY EARSINGS. WEEKLY AVERAGE WEEKLY EARNINGS. HOURS. HOURS. ' 1\Iale. i I' 1\Iale. I i wo- Noml- Actu- Grand Women. I Nomt- I Actu~I. Grand , I men. nat. at. total. Un- nat. Year aml month. total., SkiD• Un- Total. I Total. I ed. skilled. I Skilled., skiUed. i ----·-- -I I Relative to July, 1914. Dollars. Hours. I

Index numbers. Numerical data. I 'i 12.54 ao.ao H.l6 10.71 I 7.84 55.0 51.1 1914, JulY------100 100 100 100 100 100 100 I 2 29.51 i 2 31.72 ! '33.31 2 27. 11 ! '18.27 2 50.0 I 2 47.6 1920 monthly average. ______2 235 2 238 2 235 2253 2233 291 '93 ' ! I I 16.07 49.7 44.8 1921 monthly average ______188 188 188 191 205 90 88 23.57 25.05 26.55 20.48 3 192"2 monthly average ______1192 1193 1194 3192 3204 3 91 395 3 24. 06 I 125. 69 I 127.42 ; I 20. 53 115.99 50.0 148.4 ! 223 91 95 26.25 28.27 30.12 22.61 I 17.46 49.9 48.5 1923 monthly average ______209 I 213 213 211 i I I I II II ' I I I I I I 1920. I June ______------240 242 239 256 243 91 95 30.09 I 32.23 33.86 27.42 I 19.06 50.0 48.5 I 32.21 I 33.83 27.51 I 18.86 50.0 48.5 . July_------240 242 239 257 241 91 95 30.10 I 243 240 258 235 91 95 30.14 i 32.30 i 3.3. !12 27.68 18. 44 50.0 48.4 August.------240 I I 239 243 240 258 238 91 94 30.01 32.30 33.94 27.64 I 18.67 50.0 48.1 September------I I I 47.~ October ___ ------237 241 237 257 234 91 94 29.75 32.00 33.58 27.51 18. 3t 50.0 46.4 November------'----- 228 233 229 247 223 91 91 I 28.63 30.93 324i I 26.44 17.45 49.9 222 226 223 239 218 91 89 27.89 30.08 31.57 25.57 17.08 50. 0 45. i December_------I 1921. I 44.1 January_------205 210 208 220 205 91 80 25.75 27.96 I 29.41 23.51 10.08 49.9 I 22.24 16.38 50.0 43.8 February------199 202 200 208 209 91 .79 24.96 26.82 28. 3.3 I 197 196 194 202 206 91 80 24.69 26.07 I 27.54 I 2!.67 16.16 49.8 44.0 March .•• ------I April. ____ --- __ ----___ : _____ 193 I 191 189 196 204 91 79 24.18 25.38 I 26.81 21.04 15.96 49.9 43.8 I 1: ! 16.34 49.8 44.1 May------187 188 186 193 208 91 80 23.45 24.95 i 26.35 20.66 June.------184 185 184 190 208 90 80 23.12 24.62 I 26.01 20.38 16. 2'1 49.5 44.3 July------181 183 183 181 202 90 81 22.75 24.32 i 25.91 19.34 15.SO 49.5 44.5 August ______182 183 183 182 204 90 82 22.82 I 24.35 25.91 19.45 15.99 49.5 45.0 I September------180 180 179 180 204 90 82 22.62 23.69 I 25. 3S 19.33 15.96 49.6 45.1 October------183 182 182 183 205 90 84 22.99 I 24.18 I 25.72 ! 19.58 16.06 49.6 46.4 No>ember------181 180 180 lSi. 202 90 84 22.71 I 23.94 I 25.U 19.35 15.82 49.6 46.1 December_------___ 182 181 182 179 204 90 85 22.84 24.12 i 25.77 19.18 ! 15.97 49.7 46.8 1922. I I I July_------181 185 185 184 196 91 8G 22.75 24.59 26.21 19.72 15.36 50.0 47.5 I 48.0 August ______------186 I 189 190 185 195 91 87 23.36 I 25.09 26.85 19.86 15.32 50.0 September------___ ------192 191 192 190 202 91 87 24.04 25.46 27.15 20.39 15.82 49.9 47.9 October ___ ------193 196 197 195 207 91 89 24.16 26.09 27.83 20.89 16.21 50.0 48.8

November ____ ------_------199 198 199 196 211 91 89 24.92 26.33 28.11 20.99 16.52 r.o.o 49.1 49.3 j· December_·------200 i 200 201 199 213 91 89 25.12 26.60 28.40 21.31 16.70 50.1 1923. I 49.2 January ______------~ ____ 200 200 201 197 214 91 89 25.08 26.58 28.43 21.06 16.81 50.2 49. I February------_____ ------201 I 201 202 198 214 91 89 25.24 26.73 28.57 21.22 16.76 50.1 i 49.4 AprilMarciL ______••• ------207 207 208 201 218 91 90 25.64 27.47 29.48 21.49 17.06 50.2 ! 49.6 212 214 215 211 222 91 90 26.64 28.44 I 30.39 22.57 17.43. 00.1 ! 49.1 MaY------· 217 219 220 217 231 91 89 27.25 29.17 31.12 23.19 18.14 50.2 June .. ______------I 48.8 216 218 218 216 229 91 89 27.12 28.97 30.90 23.14 17.94 5o.2 48.2 July------213 214 214 215 222 91 87 26.66 28.52 30.35 23.04 17.44 49.9 August------212 213 211 48.0 218 225 91 87 I 26.&7 28.31 29.112 23.31 17.66 49.9 September------_____ ------213 216 215 I 47.7 216 225 90 87 I 26.74 28.67 30.41 23.17 17.66 49.5 October_------216 48.0 November ______218 218 217 226 90 87 I 27.14 28.99 30.81 23.25 17.611 49.6 217 I 47.8 203 217 215 224 90 87 26.~ 28.81 30.73 23.02 17.59 49.5 December ___ ------~------203 215 214 213 222 90 86 26.94 I 49.7 47.4 II II 28.53 I 30.29 22.86 17.39 -- 1 Cornp1led hy the .Natwnal. Industnal Conference Board from repo ts 1 1 678 1 · csentmg 23 industries. The nominal hours per week represent the weighted n~mb~~~r hou mtabnu actunng plants employing 506,31.S .people ln. January, 1921, an~ rep~r·sent the average man hours worked each week. rs e Pants1 are supposed normally to operate, wh1le the actunl hour. re c t Average or last seven months or the year 1 Average of last six months or the year. · 49 GASOLINE.1

[Base year In bold-face type.]

~---- -··-·--- I I -- ·----.c----. 1 Produc-11 Ex• ~~~~: Stocks, I!_~ {:;, I Produc- t I Domestic Stocks, 1Price, tlon. I ports.• sump- ::_.~~t~.a New tlon. 1 Exports.• ! consump- end of Wet;;r, tlon. I York.• i 1 tlon. month.• York.• 1 Year and· month. ------Re~ati~e:':,l1 ·------~'------'~·------L------I------! Relatl~e to 1919 to 1913_, , Thousands o! gallons Dollars 'I · per gallon. t-----1-N_D_E_•X_N_U_M_B_E_R_S_._..!_ ___: ------N-U-M;;IC~~-DA~.- ---· . ------1 ------d I 1917 mon thly average ...... i2 113 76 73 141 'I 237,546 34,676 I 218,420 I 343,046 $0. 238 1918 moo thly average...... 90 153 91 82 144 •I 297,526 I 46,926 2•30, 772 I 386,202 .242 I i 1919monthly average...... 100 100 100 100 146 829,821 80,667 I' 286,23! 472,Ul .245 1920 mon thlY average ...... 123 173 124 98 174 II 401,879 ~2. 979 I 354,225 I 464,485 .293 I i I 1921 moo thly average...... 130 143 131 ! 134 155 429,462 I 43,817 l 376,336 630,757 .261 1922monthly average...... 157 157 I• 156 I 167 149 !I 516,853. I 48,295 I 417,674 785,189 • 251 1923 moothly average...... 191 228 i 195 238 123 629,662 i 69,801 ' 557,086 I, 126,643 • 267 I i - II I i I i I 1921. i I Scptember ------126 114 153 109 143 41ti, 913 35,055 438,084 515,326 .2!0 October. ---·------· 134 I 154 159 97 146 440,956 47, 116 454,996 456,270 .246 ! Novemb er-- ·------131 150 122 105 156 431,887 45,867 350,5!8 495,590 .263 Decem ber.------133 I 117 109 124 160 439,031 35,990 313,016 586,087 .270 I l!J~2- I January. ·--·------135 I 16'! 99 149 156 I 444,623 l 49,856 282,717 705,711 .263 February 121 124 92 171 116 398,223 38,170 262,926 807,379 .245 ------~ ------172 133 181 143 472,278 52,814 380,407 854,232 .240 March ... ------~--- 143 .ApriL., ------143 189 135 189 147 472,920 I 58,007 385,231 892,568 .248 May.... . ------150 182 175 181 159 513,659. 65,824 499,724 8.16, 607 .268 June... .. ------·------159 170 177 175 I 100 625,941 53,835 506,959 824,966 .270 July .. ,_. ------173 191 198 161 i 160 509,711 58,631 566,099 772,909 .270 204 149 149 549,958 36,010 583,688 703,738 • 2.10 August.. ------167 117 I I ~36,492 44,846 507,924 690,001 • 2.10 1 SeptemLer------Hi3 146 177 146 I 149 ______,.._ i · October. 172 139 .J71 153 146 566,279 42,757 490,393 723,584 .245 I Nov em ber ...... 172 136 165 lfH 143 I 567,101 41,572 471,616 776,724 .240 154 152 187 I 136 595,050 47,223 434,400 883,793 .228 Decembe r ...... 177 I 19~3. January. 189 191 160 212 131 623,723 58,505 456,967 1,002,857 .220 --·------~- February 172 218 133 239 137 568,652 66,968 380,093 1,130,3U .231 . ------. ----~ -- .245 March... 191 223 156 267 H6 630,701 68,506 446,460 1, 259,209 ------.-- .240 .ApriL .. ------·------··- 188 214 170 283 143 619, 0~3 65,655 485,719 1,336, 418 1,328, 533 .220 May..... 192 232 2ill 281 17~ 031,705 71,153 582,536 ...... ------1,263,583 .215 June•••.• 193 230 221 267 128 I 636,734 70,398 633,505 ----·------674,019 1, 165,389 .213 July ..... 193 263 235 247 126 636,912 80,693 ...... ___ .,. ______, 250 242 223 ·119 I 648,955 76,658 692,154 1, o.;a, 8.16 .200 .August.. 197 I 655,798 972,705 .191 Scptember ...... 189 236 I 229 206 114 623,733 72,352 621,173 I 946,873 .185 October .. 200 269 I 217 200 110 659,061 82,504 638,309 985,646 .170 Novembe 187 175 188 209 101 617,558 53,656 r .. ------518,305 1,074,900 .155 December ------, 200 230 181 228 92 659, 169 70,565 1924. I I 98 695,323 85, 946 498,161 1, 262, 547 .155 I January...... 1 211 280 174 255 ...... --~ ------1------...... -----·---·---· ------· ; February ------·-1 March.. ..·:::::: ::::::::::: [:: :::::::: j::: :::::::!: :::::::::I:::::::::: ::::::::::I :::::::::::::: i::::: ::::::: ::::::::::::::I:::::::::::::: ·------·--' .April ..... !

1 P~oductlon, consumption, and stocks from U. S. Department of the Interior, Bureau of Mine&: exports Crom U. S. Department of Commerce, Bureau of For~ig!l and Dome!llc Commerce: price of motor gasoline, deli~ered in drums, to garages In New York City, compiled by the U. S. Dep,artment of Labor, Bureau of Labor Stahstzc•. • 'Exports of gasoline," as used by the Bureau of Mines, includes the items "gasoline" and all "other naphtha, etc., as reported by the U. S. Department of Com· mer~e, less exports to the Philippine Islands. Stocks held by refiners. ' The Index of gasoline prices Is relative to the 1913 mont!Jly average, $0.168 per gallon. 50 CRUDE PETROLEUM. 1

[Index numbers for base year In bold-raced type; numerical data on o);lpo5lte J:lllgl!o]

\ STOCKS. . I CONSUI\IPTION.II J.>rtce. I Produc- ! I I Jlmports. I IKJ~~- :0'!!~ ~~~~: Year and month. tton• • Itor Total com- atTotal refin• Numberof days' T o tal • LR_un_t_o_o_c._h_o_m_a._!__p_Ie_t_e_d_._stills. Iat wells. l, __in--e·n-ts_ •• _, [ipariBon.• erles. supply.<

Relative to 1913. Relative to 1919. Relative to 1913. II

i ~--- 1----~----11----~---.----.,--~------: hi 100 I -~---l--10-0------,;,--1-0_0_ i --- 100 100 100 1 1913 mont y average .. ----· ··--··---y------100 97 100 86 87 82 1914 monthly average...... 107 118 ::::::~::: :::::::::: 1915 monthly average...... 113 139 102 104 62 48 127 135 98 1916monthly average...... 121 138 ------·1 115 122 \------I 154 190 87 213 1917 monthly average...... 135 122 38 'I 137 169 144 1918 monthly average...... 143 99 91 109 212 158 ~ I 235 93 246 1919 monthly average...... 152 105 tOO !00 :~ 160 100 I 244 110 337 364 127 5114 1920 monthly average...... 178 127 114 79 201 120 I 1921 monthly average...... 189 152 138 96 ;~ 201 123 182 77 699 1922 monthly average...... 224 234 221 132 226 193 91 724 1g23 monthly average .. _____ 292 285 214 129 461 272 I !!~ t 154 85 563 -.;;..----;-----;-- I' 1021. 49 817 September... ------· 178 165 120 107 616 191 118 107 October...... ---.-- 173 166 123 100 784 208 126 . 166 47 776 November •. ------184 170 146 100 876 211 120 1 228 56 814 December...... 204 177 178 103 929 220 130 241 70 898

I 1 January...... :. 211 187 205 116 883 207 128 241 72 851 February. __ ...... ------200 199 178 128 814 183 114 241 72 781 March ...... 228 211 210 126 944 217 130 241 83 800 ApriL ...... -.... ------· 218 225 219 149 786 189 127 241 91 864

May ...... ---.------·-­ 227 235 238 136 945 224 141 241 95 861 June.------­ 223 244 242 137 821 222 139 241 104 786 July------228 249 236 140 707 233 147 206 113 791 Augtl..C::t _____ •• •• ~ ~------227 250 228 133 693 252 145 134 107 642

September ... -- ...... ------. 221 2/il 225 138 • 324 221 141 134 99 526 October...... -...... 234 253 219 133 679 258 147 134 87 64S November.. _.. ------232 252 219 127 501 249 147 134 91 660 December...... _____ -----. 245 252 226 123 483 261 155 134 75 567

1023. i January...... 251 256 200 128 492 247 1M 145 76 554 l February ...... ----- 232 256 188 7 122 7 418 7 237 142 185 69 471 1 March ...... ------273 259 208 117 543 276 155 198 78 612 ApriL ...... "------283 264 210 120 446 266 1M 195 96 587 1 i May...... --- 271 211 128 404 264 159 163 us 570 ' June ...... __ ... ------... 301 281 212 135 404 253 159 155 115 553 July 315 290 225 130 466 279 169 155 109 561 I August...... ---- 318 296 229 126 511 297 166 155 92 603 i September...... 312 302 219 131 406 283 162 144 80 523 October...... 323 310 225 136 460 290 169 133 72 534 l November______323 318 221 141 410 277 167 112 63 555 December~-~~~:------284 321 223 141 667 290 170 109 66 628

1 lanuary...... 272 j 319 'rt1 141 425 287 170 i 133 48 459 .fi~::: :::::::::::::::: 1:::::::::: ...... ::::::::::: r::: ::::::::::::::::i ::::::::::

See footnotes on opposite page also. t leuro 1 Crude petroleum production, importa, total con5umption, and completion of oil wells, from U. S. Department ofthe Interior, Geological Surt'tU; stocks of crude ~.r~tocks Included in "Total !or Comparison" are from the U. S. Department oj the Interior, Geological Sur~tlf, and include pipe-line stocks and tank-farm stocks, prod~~d bY the in California, and stocks of Mexican petroleum held by importers. Beginning with lanuary, 1923, topped oil and Imported oil at refineries have not been rep r the latter. Geological Sump, but the imported stocks reported by the Bureau of Mines have been added to the Geological Survey figures to compensate for the exclulusim~Jth Januar>, This change in the method of computation reduced the lanuary, 1923, total !rom 264,675,000 to 263,235,000 barrels, an almost negligible difference Begin ng t colurDD 19231 the Geological Survey total of stocks, pipe-line tank farm producers' stocks In California, and imported oil held out5ide refineries ore given in thMe ~epar:n~ include heaaed "Tank farms and pipe lines." Total stocks at refineries and crude petroleum run to stills are from U. S.Departmenl of the Interior, Bureau o.1 mes, anpetro­ both imported and domestic oil. Wholesale priee of crude petroleum, average for the month, from U. s. Department of Labor, Bureau of Labor Statuti~ li~~~~J1 Jouma.l, Jeum shipments are from the Oil Trade J011rnal, the current month being an approximate from tbe Wall Street Journa~· Mexicallstor~ge of oil is from the ,. a 51

CRUDE PETROLEUM.~ [tiase year In bold•taced typejlndex numbers on opposite pagf'.]

CONSUI\IP· ! 1 ·y--~11<::\:U:~-~---i TION. I Price, /' Hf:Lo. Pri.idiie• [Ill- Han• ----,--s-T_o_c~K-~:-~----~~ Un• sas- Wells011 ----·-· tlon,s Totai Tank 'rotat Itt potts. i'Okla- con1- [ Stora~~:~. Year and month. for emu- farins refln~ :!iutn- Total. 1tun to u~ta, pleted. ShiP· Tam- parlson,3 a~~~~~~e erles. ber bt stills. I 'h·ells. I ntents.' pJro days• tlrld, 1--.l!______L__L___I sup- 11--"'-----._~__ I / 'rhousands of barrels. ply.• Thousands of barrels. Per ;umberI/ Thou~a~ds of l------1---~,----.----.----l--- __ barrel. ofwclls.• ~cl~. ··---I

I :~:::~::::::: ~E ':~:lE _:_:_:_:_:_:_:_::_-_:_:'~~_:_:_:_:_:~_-_:_:_:_:,._:_:_:_:_:_:_:_:! ~::~!1 512 ~1:~~:2 772 1:::::::::: $0 ..97~: ~::;763 i ~:~:2 743 1:::·------~ i9i6monthiyaverage.... 25;064 ' 2, :------.J;Sa .h. 144,556 I,7141! 26,549' ...... 1 !.US 1,565 I 3,318• ~------·... 1~17moilthlyaverage____ 27,943 128,201 ...... 5,682 !59 2,514 31,4781 26,::61 1.775 1,383 4,608 -·- tY18motith1yaverage ___ " 29,661 103,886 ------13,526 126 3,144 1 34,423 27,16U 2.107 1,487 ~,3111 .••• l1 I 11119 monthly average .... at,5a1 !10,026 ------14,986 118 4,401 il 34,873 30,127 2.279 1,747 ' 1,250 '!--- iilzo monthiy average •••• 36; 911 ~;~·.~; ------I6,954 19121 9,054! 43,732 36,160 3.404 2,024 ~ 12,814! ... i921 monthly average .... 39; 1117 ------2Ds65l 10,442 i 43,748 36,947 1.704 1,218 15,093 ~--· I i922 moilthly average •••• , 46; 461 245,673 ______32,932 I 153 10,609'.! 49,370 41,725 1.806 1,445 , 15,611 ... 11!23 monthly average •••. 60;475 1 299, 35_9_,___29_a_,23-a-'-_a_z_, o-23·- 160 6, 835 i 59, 22s 48,436 1. 439 1, 357 : 12,147 ... 1 II 1921. il September -•--•-·-•-... ,, 36;763 172,874 :::::::::::1 :~: ;--!-~:--7--1-~:-:-~-71 41,702 35,614 1.000 I7,6341 ••• October------"-'·"·' 35,832 174,149 45,314 37,968 1.550 ;: II 16,746 --· :November, ______, ___ _ 38,108 178~ 260 ~------:-- 21 1856 116 1219!H 45,987 37,212 2.125 899 I 17,57I ··­ December_ •••• : ••••••••• 42; 173 185, 623 ;------·- 26; 562 120 13, 753 47,005 39,223 2.250 I, lOS I0,397 ... 1 1922· January...... ---·- 43; 696 196; 228 :------30,636 135 i 13,107 45,193 38,582 2.250 I, 151 18,3&1 ••• February------._----- 41;314 208,851 26,580 148 I 12,077 39,933 34,423 2.250 1,143 16,St2 --- March ______..... -----•-- 47,188 221,588 31,298 146 I 14,004 47,369 39,094 2.250 1,323 :7,274 ...... ApriL ••• ----- __ .... -- -·- 45, 167 235;962 32,752 173 11,659 41,258 3P.,364 2.250 1,442 i 18,663 ...

May______----·---- 41,022 247,093 35,476 I 58 14,018 48,8{6 42,562 2.250 1,511 ' 18,5871--- June ...... ______...... 46,087 255,817 36,178 I 59 12, !82 48,149 41,805 2.200 I,654 16,977 ... July------·-----·· 47,134 261,395 35,287 I62 10,493 I 50,877 44,378 1.925 I, 798 17,0681 ••. August...... ------47,059 262,707 34,030 151 10,279 54,984 43,817 1.250 1. 709 13,868 ------

33, 6I5 6 48,166 42,534 1.250 1,572 11,367 --- September ...... ---·.-.. 45,805 263,761 ~------· 160 I 4,812 October ...... 48,410 265,073 ------·· 32,766 154 10,082 56,159 44,234 1. 200 1,388 13,089 --- N ovcmber •.• _•••. ____ --- 48,027 265,017 ------32,765 147 7,429 54,363 44,203 1.250 1,450 12,085 --~ I,l97 12,240 ... December.------·- W,642 264,578 --··------33,805 143 7,166 56,845 46,709 1.250 1923. January_------·--.. 51,941 268,333 258,059 29,914 148 7,307 53,002 46,825 1.350 1,208 11,960 --- 7 7 1,091 . February•••••• ------·--- 48,130 268,946 260,026 28,113 141 6,190 • 51,681 42,672 1. 725 10,175 --- :March ______56,461 271,781 263,310 31,133 136 8,058 60,207 46,819 1.850 I, 248 I 13, 2'22 --- 1.825 I,521 12,682 ApriL •••••. ------58,528 276,914 268,925 31,343 139 6,617 58,019 46,710

1\Iay______------61,858 284,505 277,785 31,511 140 5,995 57,669 47,973 1.525 1,87I 12,297 -·- 11,9·13 !0,023 June ...... _.• __ ------_ 62,340 294,741 288,406 31,718 I57 5,996 5..'>,117 47,969 1.400 I,830 12, 119 19,556 July______------65,273 303,986 298,172 33,581 15I 6,9I5 60,875 00,926 1.450 I, 733 13,019 20,743 August. ____ .. _.• ______• • 65,793 310, 7I4 305,342 34,271 146 7,580 64,661 00,015 1.450 1,465 u. 282 , 23,653 September ...... 64,686 316,893 312,668 32,753 152 6,021 61,789 48,812 1 1.345 1,278 I. I,140 11,529 23,758 October._.------66,971 325,646 32!,1172 33,669 158 6,825 63,177 50,004 238 1,007 U,9H 23,005 November ______------... 64,829 333,936 331,077 33,012 164 6,085 60,412 1.050 1 1.015 887 13,563 22,513 December.··------58,892 336,556 333,053 33,259 163 8,417 63,230 ~:;~Ill

192-l. 1 January...... 56,354 334,999 331,496 33,873 164 6,303 62,686 51,244 I 1.244 772 9,911 24 131 I February______------~~------·------·- ,•.•• ------~------! ------,------~-----·------' I Ma~ch ...... ------'------:------1------~l--·------~------i,-----·---:····-----~~---·-----·l-----·-·-· ApnL ----...... -... ---. '!""------/------: ------1------~~------~------i- ..... ·--- ~==-:.:~·_:·_:_:_::.:.:_~--==-~~~~~=:] See footnotes on opposite page also. 2 Represents production transported from Jield of production, does not include oil consumed at locality of production. ' Figures for earlier years adjusted to represent approximate net stocks to conform with data for current months. 1 Base? on total for comparison through , and on stocks at tank farms and pipe lines since January, 1923. . • 1\IeXJcan petroleum shipments from the three ports, , Port Lobos, and Tuxpam, form the best current measure of ~lexlcan ollproductwn 1 Covers first 21 days only, during which period the old tariff law was in effect; remaining nine days included In October. 7 Imports or crude petroleum beginning February, 1923 exclude topped oil; on this basis the January, 1023, Imports were only 5,069,000 barrels C<>nm:nption ~a leu· I ated on the uew !Jas!s wa,, 56,~101 000 barrels jn J'!l!tiBr;v, J9:ia, while day's supply was 140 at the eiid of Decelllber, 19~, and 138 at the end of January, I~ZJ, on this bas!~ 52 OTHER PETROLEUM PRODUCTS. [Index numbers for base year In bold-faced type; numerical data on opposite page.)

KEROSENE .OIL. ' GAS AL"VD FUEL OIL. II LUBRICATING OU... 1----~--~----~---1 ' ~----·~----,---~----1 Price, I,. I C I Price, Pa,l I Con PPrlee, Produc­ Con- St k 150• Produc- , su~p-~ Stocks. S6-40, I Produc-~ sump• Stocks. n~i~~~· Year and month. tion. sumtlonP.· oc s. water tlon. I tlon. at re- II tlon. tlon. "D" at white. 1 11nerles. 1 . f I i I !refineries. I I,------~----~------~------R-el-at_lv_e~t-o-19_1_9·--~----~------~------~----~~-----. 80 176 i 1917 monthly average •••.••• \ 68 ••.•••••••• '173 62 i 82 1,-·······•·-1 1--·-·------li ~~ l······io2'"[ 89 1 1918 monthly average...... 78 104 135 85 96 87 j 71 ...... ,~ 1 1 100 qoo i 1919 monthly average ...... ! tOO 100 100 100 100 j' 100 10a \ 100 1\ 100 i 100 . 132 114 ' 88 I 237 I 124 ,, 108 !I 85 170 1920 monthly average...... 99 • 100 126 i 1 i l 116 79 1 U3 l 1921 monthly average...... 88 89 134 122 127 I 119 1 ~8·~u ', 19000 I'·.·~ 104 I' 91 , 1 143 68 1922 monthly average ...... \ 98 105 100 104 140 1 147 ·I 116 110 j I 142 64 1923 monthly average...... 100 107 87 107 158 J 160 ! 176 110 J[ 130 j 130 I 1 1 1921. 1111 January...... 86 139 145 132 ,1 lll II 118 I 152 !I 122 ! 1H 157 February ...... 72 143 115 I 102 128 117 i 103 I 125 129 ·: I 76 138 101 119 117 129 92 103 : March ...... , 87 1 75 149 l ! ApriL ...... , 80 \ 73 153 ~E !I 128 ·r 117 136 ! 11» :/ 108 : liS 1M 67 74 i 86 151 120 ~~'I 129 1 88 162 j 73 81 145 110 ,,, 130 'I j 102 162 ~~~::::: ::::::::~:::::::::: I 1 !~~ ~: i :~ :~ July...... 71 100 137 110 127 , 123 163 1 liS :, 93 IO.l 160 1 August ...... 74 94 130 110 I 133 150 47

September ...... 79 100 124 110 1 1 1zS 143 40 ;; I ;;; ;; I :1 134 60 October...... 94 126 Ill 116 1 ~ 1; 121 ' November ...... , so 113 12c 1 124 154 1 133 l t09 80 i 141 82 88 113 136 I 128 171 ! 104 117 123 : 134 70 / Derember...... ~~l ~: il 1 i 'I ! January... ~~~~~: ...... , 89 90 109 109 il 135 i 141 170 87 105 30 152 62 50 Feuruary ...... 86 87 110 120 123 170 94 98 1 78 157 March ...... l 92 92 107 134. 148 161 87 I 104 117 147 ft7 07 I April ...... 97 81 108 !: il 125 124 165 87 i 103 87 147 May...... 89 103 i 106 100 147 145 170 85 113 139 140 70 72 June...... 89 89 : 106 100 142 147 170 94 1, 114 102 141 July...... 99 116 i 1081 100 151 152 175 91 il 130 133 140 72 August...... 94 117 I 95 100 149 152 176 112 :1 126 ; 142 137 70 September...... 101 119 90 i 101 144 148 175 115 ! 116 126 133 ::::::::::::::::::::) ;:: i ;:; i EI ill ;~ ! ;~ :: ;~ tl :~ ' ;:: I ::: I 1923. ' II I 179 1 117 123 104 149 ;::~;:~~~~~:::::::~::::: ~~~ ~: I ~~ ,' ~!~ !~~ 145 1~ 123 ~~: 110 120 148 : March...... 98 97 94 1 110 153 162 1~ 12.5 :I 129 131 146 77 ApriL...... 93 111 I 91 109 154 158 164 123 il 129 131 145 1ft ~..:::::::::::::::::::::::::: ~ :: I : I :: :: ::: : :~ !I :: :~ : ~ ~~~;_:::::::~:::::~~:::::: ~~ 114 i 81 I 103 I !~~ ~~~ ~: :~ li ~:- ::: !!~ :: September...... 99 101 i 79 ! 103 162 161 190 98 131 133 54 I1 I ;! 124 I October...... 98 107 ' 75 I 105 HiS 177 185 113 " 125 I 124 135 M November...... 113 114 / 80 110 I 166 160 i :[ 143 58 1 193 113 136 I 128 ! December...... 120 103 , 91 I 110 f 163 166 I 195 108 !1 139 ! 112 150 59

I ~:;;:~:~·::: ::::::::: ------"~------·~ _i_- -- -·~ __!__ ---"'--! -- "' 170 I 100 "' iI ... i ... I "' •••~-- !~~:~::::::: ~ :~ ~ :::: ~ ~ ~ :: ::::: ~ ~:::: :~ ~::::::::):: ~:::::::: i:·: ~::::::::I :::: ~:: :::: ::::::::: ~ ~ ,!~:: ~: :::::: ::::::::::::11:::::::::::1 i:::::: :::::I::::::::::: ::::::::::: I I I !lee foot!)otes on opposite pa~e. 53

OTHER PETROLEUM PRODUCTS. 1 [Base year In bold·faced type: Index numbers on opposite page.) ,~------~------~~------~~------~· ------~K_E_R_o__ sE_N~E_o_I_L_. __,_----\I------G,A_s __ A_N_'D __ F,U_E_L_O_I_L_.~-----~~~------~L-U_n_Jl_I_c_A~T·l-N-'G __ O_l_L_.~-- 1 I : Price, 1 i I Prlc~- Prlre, Produc• Con­ ,. con- ,. Pa., J~~: Year and month. sump• Stocks. 150° Produc· 1 3 10 I tlon. water tlon. I sump- . Stocks. ~"t 1 PW2~c- sft~~P- ' Stocks. nltt>re«l tlon. white. I tlon. relln- ! tlon. 1 "0" at I 1 1 • relln- ' I i i er e~. I I ! erles. I 1

1' Thousands or gallons. Dolls. l ----T-~ousnnds or gallons. ! Dolls. i ---·-T-l-'-----..·-f--'1-1____ -D-oi;.--

1------I-----...... ,------'I..:P:_•_r::_g_ai_. i per gal. lOUsruluS o ga ons. per gal.

11017 monthly average.. 133,501 ------·· 1521,273 .124 524,036 1--·····-·--·~--~-6-2:.~-"J_-_-__-_- __-_: ~--60-,-1-37-••••••••.•. 1122,526 I918monthlyaverago.. 152,113 120,546 405,203 .170 610,116 1 499,630 548,985 i-----·---1 70,122 48,379 144,521 1919monthlyaverage•. 195,156 116,158 300,582 .200 63.i,6071 573,SOS 778,396 i 3 .052 . 70,563 47,698 161,491 • 1920 monthly average.. 193,341 115,789 379,472 • 263 738,454 650,903 687,858 1 123 87,226 51, M2 137,212 I 1 1921 monthly average.. 162, 094 103, 378 402, 522 • 243 805, 318 ! 684, 796 1, 164, 926 I .050 I 73, 165 1. 44, 189 231,172 .285 1922 monthly average.. 192,194 I21, 991 301,542 . 208 802, 186 ; 840,034 1, 438,811 I •052 81,563 52,342 i 1 230,678 .241 I923 monthly average.. 195,745 124,378 261,657 • 214 1, 006,183 ) 914,857 j I, 369,624 I . 057 Jl 91,447 I 61,562 2'.19, 493 .23~ ---~-----·---J---+---T---+-+---.!,----.2,--...l...----+-.-·__j_--~--+------1 1921. l I I January___ • __ ------205,375 I00,090 418,748 .290 836,084 634,545 921,028 .079 ! 8.'i,909 24,559 183,813 , 5iO February------163,082 83,434 430,045 .275 732,542 582,363 003,127 .061 i 72,432 24,080 201,628 .468 March._------I69, 248 87,673 446,367 .263 758,335 668,973 1, 005,318 .o4s • 73,003 36,359 223,414 .3M April ••. _------156,157 84,440 468,66~ .254 8I3, 444 670,780 1,056,485 .054 1 76,457 27,435 249,593 .2H

May------­ 145,225 99,487 452,438 .240 817,368 658,254 1,163,389 .048 70,000 41,805 261,700 .250 June.------­ 141,637 94,476 435,057 .220 826,355 668,754 1, 248,604 .044 I 03,089 48,653 260,883 .ISO July------­ 138,724 123,702 412.202 .220 807,428 707,510 1, 269,419 .030 65,893 49,121 258,638 .ISO August_ __ ------143,652 109,089 389,893 .220 784,450 ?15, 483 1, 243,446 .033 66,473 63,319 242,530 .170

September.------­ 154,017 116,001 371,235 . 220 788,408 710,988 1, 229,254 .037 69,053 61,056 230,227 .178 October------­ 182,454 145,935 334,580 .232 833,775 754,075 1, 238,269 .014 75,971 ii7,520 216,770 .215 November------­ 175,240 93,420 340,026 799,257 710,577 1,279,451 .069 77,005 37,864 228,038 .296 December------·- 170,315 102,772 341,009 :~!~ il 865,769 735,248 1,331, 265 .054 82,573 58,502 216,766 .286 1922. January-·--··-·····---- 172,917 104,111 327,484 • 218 I 858,111 805,508 1, 319,481 .045 j 74,314 14,495 245,231 .226 February_--·-·------167,220 100,570 331,423 .210 761,085 707,279 1, 321,589 .049 69,123 37,178 253,668 .214 .245 March••• _------··- I78, 785 106,819 321,428 .210 849,106 851,17g 1,250, 278 .045 i 73,39I 55,844 236,886 188,809 94,459 325,836 .202 791,643 710,111 1,282,801 .04.5 i 72,945 41,440 237,230 • 245 April •••••••• -----··· __ _ I i 226,293 .255 May····-·······------· 173,824 119,646 318,890 .199 936,742 830,165 1, 321, 43S I .044 79,848 66,000 .260 June.---·------­ 173,650 103,440 317,574 .200 903,057 840,558 1,326,940 .049 80,138 53,388 226,001 .263 July-.------·-·---­ 192,924 135,096 324,686 .200 I 959,029 870,475 1, 358,870 .049 I 91,715 63,466 Z26,691 August ••••••••••••••••• 184,383 136,133 285,520 .200 944,289 869,364 1,366, fl12 .058 88,824 67,602 220,668 .253

September ••••••••••.•• 197,935 137,963 270,577 .202 917,858 847,489 1, 364,957 .060 82,057 59,861 214,728 .240 October••••••• __ •••••• _ 216,203 145,252 256,259 .215 921,606 876,475 1,368, 749 .062 87,341 57,740 217,775 .238 89,271 54,508 226,430 .238 November•• ------·-· 234,436 155,709 257,879 .220 8111,590 882,458 1, 352,348 1 .058 December•••••••••••••. 226,239 124,697 281,050 .220 I 1172,111 989,287 1,304, 728 i .055 89,785 56,497 235,735 .225 I 1923. January•••••••••••••••• 212,448 123,233 275,437 .220 I 989,376 l, 028,718 I 1,265,074 .06I 87,078 49, 7ll 240,690 .229 272,763 .220 I 1102,563 830,580 1,276,876 .064 77,498 57,268 238,850 .246 February·······-----·· 180,375 121,038 I March ••••••••••••••••• 190,701 U3,019 283,340 .220 970,891 920,513 1,2M,122 .065 90,745 62,513 235,263 .279 April••••••••••••••••••• 181,948 128,789 273,005 .218 976,766 903, 7fl3 1, 272,078 .064 90,693 62,154 234,700 •:m 105,363 74,255 226,289 .265 May ••••••..••••••..••• 189,177 134,563 272,672 .210 1166,166 1118,766 1, 246, 6621• .060 225,137 .234 June ••••••••••••••••.•• 179,074 122,709 264,301 • 210 97(),·870 822,402 1,324,025 .052 g5, 726 58,575 .050 93,961 71,030 224,952 .225 July------·---·-··­ 188,226 I23,257 269,460 .205 1,053,243 901,770 1, 400,814 220,419 .213 August ••••••••••••..••• 186,219 I31,888 243,618 .205 1,010, 658 832,1105 1 1, 462, 182 .040 87,262 69,270 September •• ______193,688 117,520 238,024 .205 1,032,591 1123,574 1,481,204 .051 87,172 62,130 215,013 .196 October______191,346 124,568 224,954 .210 I,069,800 1,015,315 1,436,591 .059 88,003 58,943 218,485 .200 November•• ··-····--·· 220,811 132,384 239,114 • 220 1, 057,932 118,644 1, 499,926 .105'I 96,I20 60,1174 231,335 • 210 December______234,921 119,667 283,1116 .220 1,073,337 1152,330 1,515,035 .056 97,H8 53,115 242,785 .215 E2~::==::::: :::~~:~~:: :::~?:::: ::::~~:~~~:: :::=~:: 1::::~::::1:::~=:~~:: :::~:~::~~::1:::=~~::11:::~:~:: ::::~=~~:: :::"::~~::'::: ~:: 1 AprU-·-·······-·--··--· ·-··--·-· •• -~- --•• ----·-· ·-···---•••• ·---·····lr·--·--·--·--+ ---.... ------·---·-······! ...... '!I-----·----· -·------·-1·-·-·······-1---..... _, 1 Data from U. S. Department of the Interior, Bureau of Minrs; except prices from U. S. Department of Labor, Bureau of Labor SlatistiCJ; stocks aro refiners' holdings at end or month. ! Six months' average, July-December, inclusive. Average for last 8 months of year. 54 LARD.1

1921 1922 1923 . Avera~e Month. 1916 1917 1918 1919 1920 I month. PRODUCTION (thousands of pounds).t

January •••••.•••••••••••.•....•••••• 129,160 149,917 149,971 145,409 181,267 151, 145 ---·-·-·--··-- 103,978 98,629 140,641 129, 177 158,557 126, 196 February•••••••..•••••.••.•••••....• ------~- 123,130 128,886 173,551 March ..•.•••..•.•••• -- •• ------··.--- ::::::::::::::I:::::::::::::: ------·-- 85,512 116,113 125,438 April ••••••••••.•••••••.•..•••••..... ------84,472 105,887 119,375 116,074 179,292 121,020 91,365 119,545 121,464 130,766 155,449 123,718 l\lay••.•. ------.---··· •••••• ·------~~~~~:::::~:::I:::::::::::::: ------100,489 127,628 135,735 152, 193 172,279 137,665 June••.••••••••••••••••. ··--····· ••.• ------·-- 117,322 122,698 163,300 118,555 July ••• !.------··············------85,420 104,037 August .•••••••••••••.•....••.••••••• ------54,891 76,452 97,904 113,615 142,084 96,989 September•••••••••••...•...•••••••.• ...... 50,523 69,804 91,701 106,646 113,261 86,387 77,689 73,712 98,404 113,465 132,233 99,100 Octob~r ••••..•.....•••••.••..•.....• ;;;.;: :~--u:;:.;;: ___: __ : ------November •••••••••.•.•..••••..•••••• ------82,594 83,516 109,793 138,090 153,212 113,441 Dece1uber •••••...•••••••••••••••.••• ------·- 109,735 130,219 125, 157 170,806 191,748 145,533 Total. .•••.•••••••.•••.••••.••• ---·------1,055,828 1,255,459 1, 430,597 1, 567,825 1, 916,233 1, 445, 187 ;\Iouthly average •••••.•••••••• ==: ==::::::: ::1::: =: :::::: === ------87,986 104,622 119,216 130, 652 159,686 120,432

COLD-STORAGE HOLDINGS, END OF MONTH (thousands or pounds).

January ••••••••••••••••.•••••••••••• 92,342 86,208 59,310 138,353 97,649 83,549 61,202 56,266 84,359 111,897 88,460 65,355 125,410 111,975 117,690 61, 297 59, 101 92,448 ~~~~h:r_::::::::::::::::::::::::::::: 97,237 65,179 89,854 112,469 132,993 128,614 86,031 66,743 97,390 April. .•••••••.••.•.••••••••••••.•••• 108,731 61,640 103,373 112,409 141,819 152,428 96,055 85,521 107,747 84,530 Ill, 174 1\!ay····••••••••••••••••••••••••••• •• 85, 113 72,365 106,194 83,096 152,307 181,992 123,798 June ...••...•.....••••...••.••••••••• 87,127 95, 197 107,871 92,132 193,316 204,301 154,254 123,896 132,262 July •••••••••.••••••••.•••••.•••••••. 95,991 112,249 102,4ll 100,478 191,531 194,490 143,084 143,579 135,477 August ••••••••...•...•..••..•••••••• 82,028 102,172 104,668 87,947 170,774 149,886 119,755 115,860 116,636 71,570 69,929 90,398 76,456 109,258 85,115 75,338 72,608 81,334 ~~~~~r~~r_.~::::::::::::::::::::::::: 56,929 37,095 76,124 66,036 47,329 48,850 36.750 35,525 50,580 November .•..•••••.•••••.••••••••••• 58,950 44,367 81,676 49,147 36,683 42.001 32,506 • 35,317 47,581 December •.••••••••...••.•.••••••••• 80,977 54,539 104,274 62,614 69,319 47,541 48, 80S 49,822 63,487 Monthly average ••.....••••••• 85,741 74,117 90,959 92,212 120,413 119,705 86,573 77,397 93,373 -I EXPORTS (thousands of pounds).

January .••••.•••.••.•••••••••••••.•• 34, ().10 65,091 20,706 37,850 38,824 76,185 73, 194 107,786 56,710 41,262 39,558 31,683 68,973 36,645 91,841 75,520 89,055 59,317 ~~r~h:~::::::::::::::: :::::::::::::: 37,146 59,080 68,722 97,239 69,430 82,617 64,377 109,187 73,475 April •••••••••••.••••••••••...••••••• 39,017 45,602 53,885 86,556 40,758 53,275 42,459 85,475 55,978 1\Iay...••••••••.•.••••••••••....••••• 48,773 30,621 79,751 55,001 55,545 48,604 50,817 93, 199 57.789 June ..•.•••.•••••••••••••••••••.••••. 45,862 24,256 29,248 114,329 45,070 67,61\6 57,249 64,605 56,034 July ...•••••••...••••••...... •••••••• 26,088 9,364 68,600 68,192 47,061 83,329 66,058 69,478 54,771 August •••••••••••••••••••••••••••••• 22,891 23,553 51,921 49,033 31,021 87,411 68,907 83,758 52,312 September•.•.•••••••••..•••••••••••• 32,707 22,145 .33,268 36,960 46,326 104,741 61,120 83,630 52,612 October •••••...••••.....••••••••.... 21,242 9,639 46,025 41,017 54,174 56,886 66,332 76,378 46,462 November •••••••••••••••••.•...••••• 31,470 30,742 27,285 42,106 57,316 51,1155 62, 321 74,251 47,169 Det-ember •••..•••••••••••••••••••••• 46,162 13,070 37,724 63,646 90,080 64,542 78,596 98,578 61,580 TotaL •.••••••••••••••••••••••. 426,660 372,721 548,818 760,902 612,250 868,942 766,950 1,035,380 674,079 Monthly average ••...•.••••.•• 35,555 31,060 45,735 63,409 51,021 72,412 63,913 86,282 56, 173

WHOLESALE PRICE, PER POUND, PRIME CONTRACT, NEW YORK.

January ••••••••.••..•••••...... •••.. $0. 104 $0.161 $0.250 $0.238 $0.241 $0.136 $0.100 $0.118 $0.168 .103 .172 .268 .252 .210 .125 .118 .118 .171 .113 .200 • 266 .280 .210 .126 .179 . 122 .116 .180 !~7~~~~====:::::::::::::::::::::::: .121 .213 .258 .313 .200 • 105 .112 .120 .131 .186 .225 .248 .342 .208 .097 .119 .116 .131 .18~ .212 .245 .347· .206 .102 .121 .117 ~rt:::::::::::::: ::::::::::::::::: .131 .201 .264 .351 .191 113 .186 August .•••••..••••...••.•••.••..•••. .137 .121 .117 .185 .227 .269 .306 .189 .119 .113 .116 .149 .242 .272 .271 .201 .115 .113 .128 · 1 ~~ .158 .247 . 266 . 280 • 206 .102 • 117 .133 • f92 . • 173 .279 . 272 • 259 .191 . 098 • 121 • 141 • 75 i .168 ~------~~------~-l------·~2=s5~11----~-2~4~o-l-----~-~1~~~~----~-w~4-1-----~-1~t~4-1-----~-1~a:2-i------~~~,.254 Monthly average...... 135 • 219 , 261 . • • .123 .1821 290 200 111 115 . ~ 1 Production, cold storage, and exports of lard complied by u 8 D , · ge of w~e~:fi quotations as compiled by ~he U. 8. D_epartment of Labor. Bur~au e't/l!:bc,~1 1Stati!ff:J.ulture, 1 Bureau of Agriculture Economics; price of lard represents an avera tepresents the total productiOn or identical firms who produced in 1921 about so per cent or the total according to the 1921 Census of Manufactures. 55 ILLUMINATING GLASSWARE.'

PRODUCTION. I UNI-'U,LEJ) ORDERS. 1-~ Finished I Shipments. Net orders. stock on Ratio to band. Year and montb. capacity. Total. To Ulakt'.j To ship.

Per cent. Turns.' ~~~~~~~~~~~;~~;~:::::::::::::::! .:!:i .;;~~r-~!:: ,!:!~ ~~:~~ lj::~~ .~::;.~ MaY----·------1 53.6 2,884 I 2,800 2,841 1.5, 786 7,86.5 7,922 i i~~:~~:~~~~~~~~~~~~:::::::::::::l ______~~~~-- -·-----~~~~-- 2,680 2,423 15,544 7,483 s,oo1 I ...... •••••••••••••• ------...... 1

August ...... _._. _____ 30.4 1,926 1,992 2,020 14,782 7,282 7, [,()() September'--······------149.3 3 3,90-l 33,696 13,626 I 22,733 11J,2G2 I II, 4i2 October ...... ___ •. ---.• 59.2 2,999 3,137 2,643 14,108 7, 2118 6,811 November...... 57.3 2,913 3,080 2,698 14,185 8,66.~ 5,521 December ...... ____ 51.7 2,620 2,429 2,Z27 15,276 10,030 5,246 1924. January ...... 51.5 2,609 2,118 2,102 15,457 10,134 5,3Z2 February••• ------•••••• --····· 52.2 2,648 2,294 2,333 18,008 12,857 5,210

I Compiled by the nlttminating Glaaswart Guild from reports of identical firms, representing from 70 to 75 per cent of the capacity of the industry, based on n normal capacity of 6,000 turns. These figures are summarized from biweekly reports of the association, the two reports most nearly coinciding with each month being taken, Clcept where three periods are indicated by a footnote. • A turn is a 4i·hour period of time for one shop crew of men consisting of a blower and his various helpers. Orders are reduced ton turn c

(As compiled by American N ewspnper Publishers' Association from reports of 420 Identical newspapers.)

1923 1024

No\·em- Decem• January, June. July. I August. / seg!~~-~ October., ber. ber. (I) I I Tons.

I On hand, first of month...... 133,312 149,519 165,046 187,831 190,398 189,651 186,269 I 183,156 Received ...... --·--•• ---- 144,734 135,446 139,292 126,452 139,133 131,083 135,610 I 127,066 Used...... -----··------126,565 117,470 116,073 121,941 137,429 132,941 136,056 120,770 Sold ...... ---·-...... 2,266 1, 726 1,487 2,106 1,841 1,933 1,992 1,975 On hand, end of month ...... 149, 169 165,644 1so,m 190,238 190,265 185,910 183,861 I 181,493 In transit, end of month ...... 35,505 31,183 35,483 32,537 31,212 33,606 26, 135 38,748 Total stocks, end or month...... 184,674 196,827 222,260 m, 775 221,477 219,516 209,996 I 220,241 Days' supply (based on consumption) •• 41 52 32 M 49 49 47 63 I I I I /r I 414 newspapers reporting. 56 MISCELLANEOUS.1

AUTOl\IOBILES. United States New registrations. Government Shipments short-term debt ot ~anned (end of month). salmon, Year and month. Accessory sales. I I I l------,----l_c_a_l_tt_o_rnl_a_.Lw_~_~_':t_'.r:_g_-...L_o_re..:.·g_o_n_.-L-Ar-lz_o_n_a_.-'-_I_d_a~_o._ i! I Relative ,_ i) Millions of Thousands Relative Number. • of dollars. Cases. of dollars. to 1921. 1 to 1919. 1 ~------~------I ______j______:~- ·s.ot7 1100 1919 monthly average •••.••••••.•••..•••. ------·----·------····------·------1'/ a 7 843 ...... •97 1920 monthly average •••••••••..••••••••• ------·------·------·--:··------·-! a/ 618 ----~ ...... 195 1 ------·---~ 1921 monthly average •• ------~~·~~ ~~~ --·;i4"776--- ·-·--i;539-- ····;i;696-·:·------444"T"""";423--;I •a: 746 I 84 467,086 1922monthly average...... • • 1 , I 1858 , 15 473 1923monthly average ••••••.••..•••••..•• ------• 22,564 '4,327 1 3,065 ! 97 1 1: • 168 471,438 1------1------1-----1-----I-----! : -----<~----r' ----11-----1

i, 533 94 ------·---- Jt January------~~~~-~------February •.• ------·------1~ ~~ ~; ~~ ~~~~~~~~~~ ~ !: ~ ~:-:~~ ::::: :~:~~~~~: ::: ,:~:~~~~::::::I:::::::::::: 7,6[.4 115 ...... 7, 578 94 ~;~~:::::::::::::::::::::::::::::::::: ;~: ~!~ ~~; ::~~::::~::::1:~:::::::::: ~:::::::::::!:::::::::::: ::::::::::::!, 7,602 94 I::::::::::::::

May.------­ 26,781 135 ------·------i------1! 7, 557 94 -·------·--·- June.------•• ------­ 22,703 114 ------:------;1 7,618 115 ...... July------­ 23,096 7,418 92 ------·- August.----••••••••••.•••••• -.---•• --.--- 23,298 !!; :::::::::::::1:::::::::::: ::::::: :::::!::::::::: ::: ::::::::::::11 7,566 94 ...... September •••••• --·------•• ------•• --­ 23,142 7,562 94 ...... October••••••••••••••••• -----.------­ 22,053 7,089 88 ...... No'l"embcr. ------·------­ 18,998 7,256 90 ------·- December•••••••••• ----•• ------·c·------14,350 :~ ~:~~:~ :~ ~ ~:~: ~~~~::~~~ ~: ~ ~ ~:: ::: ~: ~:icl: ::~ ::~:~ ~: ~~ :~ :~~~ ~J: 7,097 88 ...... \ 1922. I ! January•••• •--••.•••.••••••. : •••••••••••• 17,320 87 ------7,063 88 • 336,911 22,720 • 320,846 February •• ------·------••••• -----­ 114 15,928 I ----"E!:-·1 E! 7,152 89 March •••••••• __ ••••••••.••••••••••• -••• - 28,601 144 12,923 :~ ------~!--! 6,843 85 1264,470 April.--·---••••••.•• _..• -.· .•••.••••• -•• -. 33,831 170 13,629 1, 230 1, 524 i 337 508 6,929 86 • 159,340 I May··----·--···--·------••• -----­ 43,700 220 16,ffi2 3,270 1,913 495 789 11 6,901 86 • 224,079 June ••.••.••.••.•..• _.•.•.•.••...•.....•. 42,000 211 16,008 2,324 1,224 I 451 6, 746 84 I 428,927 I 689 1 July------••• ------.------­ 41,002 206 14,696 1,842 3,559 706 360 1 6, 751 84 478,048 August.••••••• __ ..•••• _••.••••••• _..• --_. 43,700 220 15,849 I ~.85 1 85 591,720 l, 795 1,926 575 li' 6, 831 September.··------••• 37,300 188 15,746 1,801 1,368 515 6,009 82 784,238 . 200 October••••••••.••••••••••••••••• __ •••••• 39,754 14,158 1,672 1,497 671 6,164 77 756,563 November.------·------36,617 184 17,365 1,217 1,448 552 6,047 75 725,367 December•••••• __ ••••••• __ •••••••• _.••••• 34,712 175 10,.198 1, 783 310 ;I 5,835 73 534,520 I 1923. I January______------.••••.. _____ •. __ •.. 45,452 229 ...... I, l!O 6, 721 71 424,048 February------· •.••• 48,519 244 32,463 4,397 ----·i;637"" -----i;343·· ------708--1! 5, 730 71 366,159 Marcb •••••••• ----·------. ___ ---••••• 50,429 299 175,002 23,898 4,324 3, 871 819 729 II li, 753 71 April•••••••••••••••••••••• _•.•••••• __ •••• 61,647 310 187,187 22,216 6,859 a. 935 ssa 1, 057 1 5,691 71

May------••.••• _••.••••• 58,410 1 253,212 294 26,046 3,663 3, 746 1,227 . 1,412 1 5, 581 69 June.------••••.. ------.------·- 58,068 292 22,917 6,647 1, 994 1, 058 I, 196 I 5,473 68 445,127 July------48,537 244 21, 731 6,008 6, 778 1, 271 647 ' 5,436 68 390,688 August••• --•••••••••••••••••.••..•••••••• 50,264 253 20,615 4, 762 3, 195 946 1, 373 5,396 67 653,480

September.-----·------· 46,223 233 18,381 3,778 2,481 1140 889 8,709 108 834,304 October...... 53,803 271 22,279 3,812 3,170 1,054 620 8,677 108 962,709 November•• ------·----- • ------­ 21,UO 2,2!4 2,224 838 603 8,656 108 648,648 December•••.••. ------•• ------.• ,.•• ------17,363 1,690 395 206 8,612 107 403,992 1 I January••••••••• ~~~~·------J ...... J ...... ------·------'·--·-······· ------8, 541 106 ------·-·· ?:E::::: ::::::::::::::::::::::::::: ::::::::::::: ::::::::::/::::::::::::: :::::::::::: ::::::::::::1::::::::::::1::::::::::::11::: :~::: ::::: ~~ :: I:::::::::::~

1 Accessory sales from the Motor and Accessorv Manufacturers' AMocialion, representing sales of 300 reporting members· to manufacturers of passenger cars a¥bed trucks u. B. for original equipment; I!Ulo registrations of new cars not previously register~d from Federal Reserve Bank of San Francisco; short-term <_lovernment d:Bbbfr~~Jlresentlng TrefJ3urv Department; shapments or canned salmon from Puget Sound, Astona, Portland, Oreg., San Francisco, and In bond through Prmce Rupert, · ·• hipments practically comJ)Iete production or the United States, including Alaska, reported by Pacific Canned Fish Broken' Association, but the data do not Include ra11 5 lrom Portland, Oreg., which are stated to be quite small. · '1922 figures are for passenger cars only. 1 Condition on June 30 or the year Indicated. ths of1923· 'Doea not Include Portland, Oreg., whose shipments totaled 25,227 cases In January, 1923, and an average or about 2,000 cases for the five next succeeding mon • Eleven months' average. 'Ten months' average. 57 WORLD PRODUCTION OF CANE SUGAR AND FLAXSEED.*

C.4.NE SUGAJt. J<'J,AXSimD. I

I : I : I i Ja United IJ II n II I Porto , I: Araen• United '--1r' 1 va. States,l raz • awa • Rico. ' . India. I,: ,, Una. India. l:!tatcs. Canada.l Year. World. World total. 1 .--I ----.------111 total.~------I 1 1 May. , _o~oc~--- Nov. __:_ncc. __ ~:_~--~~~~-' 11 Jnn.• Apr. Aug .\n~. --~---~L_ -----~-. --··------Thousands of short tons. 'fhousnnds of bushels. I _J 1 ::~~~~~-~~~~~~~-::::::::::::l~i::~! I ~:~~ ~; ~ :! ;:: ;;:~ ;;~!~ -:~::i- 1 :!::£ !:::!~ ----:~:~~ I;;~;~ 1915 ...... 12,776 11,797 139 486 593 '484 3,437 2,950 103,287 I 45,040 15,880 H,030 10,628 ~::~::::::::::::::::::::::::::! !!:i~ ;;: ~! :~: ~~ : ::!!~ ::~~ 1 :;:~! j 3~::~ !~:~~ 1~:: ::~: 1918 ______, 13,324 I 1,478 284 440 600 406 4,597 2,617 61,821 111,588 20,600 13,369 6,055 :::::::::::::::::::::::::::::/ :;:~: ' :::~~ :;~ :~~ ~;~ ::~ ::: ;;::! :;:~~~ I1 !~:~ !::~: ~~:;~ ~:: I 1921...... ; 14,563 I 1,906 328 551 592 408 14,517 2,925 ' 83,288 i 50,470 10,800 8,029 4,112 I 1922 ... ______14,614 . 1,993 . 295 1 '667 1 '537 '379 '4,034 '3,347 ...... , 44,286 17,440 10·,375 5,000 1 ------'------~~------1 _1923latestestimatcs.~------:------·---l 1,971! 1721 7061 605 392 j 4,271 I 3~388 1---:~~_163~~5 L~l,~J ~7,~29]_ 7,14~.\

t Louisiana and . ' From private sources. t Exports. • New crop available in January of the year indicated; January, 1924, estimate is 63,225,000 lmshrls. WORLD PRODUCTION OF BEET SUGAR.*

:ri:~ II ~~::~ Im~~i·.ls~~:~~;., Russia. IPolaJ~d. i~=~~~-ll~., France. j Italy. r~::n:r~~~~.- ~:;:~~~ Year. Thousands or short tons. I ---- ! - T'. _T____ _ 1909-1913 averago ...... i 8, 432 fiiO 2, 2\!6 J, Oli !, 726 279 , 246 276 709 209 116 i 12!! i 154 I 1914 ...... ! 8,331 I 722 2,721 1,00t l,I:S79 -----23--9---1 316 215 334 166 112 168 I 170 1915 ...... -- 6,056 374 1,678 812 1,824 264 I 120 !50 166 117 143 140 19!fl...... ______5,808 sz1 1,121 8o5 1,457 20a 1 286 1- 14o 204 160 139 124 1r.1 .J91i...... 5,208 765 1,726 584 1,134 263 I 215 ! J36 221 162 154 149 144 1918______4,592 761 1,404 688 318 249 i 182 78 121 120 J6Q 156 141 ~:*::::::::::::::::::::::::::· ::~:~ .::~: · ::m · ~~~ E :~ !E m .m : ~: !E m 1922 ______-- 25,692 I '711 1,605 I '821 I '·'245 1294 I 308 I '293 515 300 '176 94 lj9 1 1 I923Jatest estimates... - ~ '~-9-a~'~!----;;-J-~I-;;-r-;;-i~-----;;----;;--;;-i--,2-I------;;------______!'___ ~l--~--' ..... ___ !.______j _____, ------' ------~--- I Crops in all countries here gi von are harvested beginning in September. 'Include& Ukraine; data !rom private sources. ' From private sources· • Refined sugar in terms or raw on the bo~is of 95 per cent of the raw. WORLD PRODUCTION OF RICE.*

' II I I I -~----- DE'!.~~r 1,-;~~~~~~·-' Count-r;r...... i lVorld.total.ii ludla. ' 1-:Kwt. :i:~~ Italy. ! Spain. .laJ•an. Indies.• ! pines.

Dor. _N_~_"_·•_•r-~p-av_a __ i_la_h_le_._-_--_--_-_ .. _-_···· .j = J~'•• .. ,,.{_;;;, ~f'"'' _"~ . N::: ~" ' :llillions nl pmm

Normal consumption (190!1-1913) ...... ___ ;______i ·- 67, 8\l;·-~: .... ~~T------;,~ ------·.::~~._-____ .... , 14, 6

!!!i::::::::::·------:::::::::::::::::::: m:: 1 ~H~ ~~ jE ~: ~: !~:: ::::~:~~:: u: I ' 1917..... ------, 122,000 11 81,198 487 I 965 716 322 17,143 3,:{23 1,745 I ! 1918 ...... ----··------·------·-- 97,400 ., 55,218 692 1,072 712 282 17,184 3,4U5 2,210 1010 ...... ______111, zoo U 71,613 607 1, !66 602 412 19,106 7,051 1,on · 1020 ...... ___ ... __ .. ______. ______., 9o, 111 iI 62, 793 634 1, 446 oo1 394 19, 849 6, 43o 2, 121 1921...... ------·--- 120,797 ;~ 74,437 472 1,045 641 3M 17,336 5,669 2,660 1922 ...... ______: 127,132 II' 74,294 '33 1,150 '632 I 373 i 19,0671 6,451 2,681 I 1 19231atestesti~ates ...... -... : ..~~=i"------···· , 46,574 270 ~- 670 I --~ I___ J8,3~-j_ __ 6,~--2,703J

1 Java and Madura • Acreage about ball of normal: Summ~r crop only given. a 1922 acreage 296,560, compared with 286,400 acres In 1921 • . • Data compiled by' u. s. Department of Agricullure, Bureau of Aoricttltural Economk•, and corrected monthly in accordance with latest nynilable information re­ celv~d by that department or by Department of commerce, Bureau of Fortign and Domutrc Commerce. Countries are placed In tho order In wh1ch crops are harvested. Corrected to Februnr11 Zl, J9ZI. 58 WORLD PRODUCTION OF COTTON.*

Country .•...... •... World total. Peru. United 1\Iexlco. States. I lndla_._ -~~f--B-ra_z_l_l._l .

New crop available ••••••••••••••••••.•• ------··1 June. August. -A~u-gu_s_t_-j Nove-:~er. September I September.

Thousands oC bales (478 pounds net).

1009--1913 a.-erage ...... 20,660 193 i 3, 584 322 1,453 1914 ...... 24,630 111_ ~: !!: : 108 4,354 387 1,337 1915 ...... 18,470 1 113 11, 192 95 3,128 282 989 1916 ...... ------•• ----.•••••••.•• 18,970 II 121 11,500 103 3, 769 281 1,048 1917 ••••.•••••.••••...•.•••••••.••••...• 18,370 i' 125 11,302 135 3, 393 3·15 1, 30-1

1918 ...... 18,580 1: !42 12,0-11 1 203 3,328 339 999 1919 ...... 19,925 1: 155 11,421 . 199 4, &53 38t I, 155 1920 ...... 20,940 li 161 13,440 188 a, 01a 451 1, 251 1921 ...... 15,391 i 157 7,9.54 !4i 3, 748 505 902 1 I I 1922 ...... ,, ...... 18,705 : 137 ' 9, 762 I 178 I 4, 348 ."i5.3 I, 170

11- -!----~------~ \'-~923,lntest estimates ...... 19,125 1,213 !~----··-·····: 10,~-1_ - ~~--- -- ~~~~--t=·~---J 1 l<'rom private sources. '1922 acreage 12,496,000 compared with 11,976,000 in 1921. 'VORLD PRODUCTION OF WHEAT.*

1 1 Country ...... \ World totalJII AustraUa. India. i United I I ; 1 ) i d I Am:~- !--~-~~~-!~~-_s_p_al~n_. _l ...:::~~- Fr~nce. -~Germany.; Rumanta. Cana a.

11 1 July. 1: August. August. ; August. ! August. l August. September.i No• =P ' ,_,_ >=""- """'· 1 1 onD•b"'------~------1 I I I I I Mllhons or bushels. 1------l------·------.,------,---c-----:----:- Normal consumption j I · I _ I (1009-1913) ...... : 64 __ : a, I 301 , 581 , 136 236 atn :m 3·1 116 1

1 --~~~~13 a\"e~~~~~~: ... ---1 3, 577 !-;; 85 I 3o1 ~--6~- - i --- 1~0 183 :ns 1r.2 87 197 1914-...... J 3,586 105 103 ! 312 891 116 170 283 l4fi 49 161 1915 ...... 1 4,199 169 ~ i 377 1,026 139 171 22:! 142 89 394 1916 ...... 1 I 2,609 169 179 . 323 631) 152 177 ~'O:i , 110 78 263 1917 ...... : I 2, 288 80 1.';2 382 637 143 110 13i\ i 82 ...... 234 1 i 1918 ...... / I 2, 804 224 115 370 921 136 183 220 2 86 I 18 189 l 1919...... 12,743 180 76 280 968 i29 170 2 182 2 SQ I fi6 193 I 1920...... I 2, 868 217 46 378 833 139 141 • 237 • 8.1 I • 61 263 . ID2L .. ______1 3,069 I 156 146 250 815 145 194 • 323 '108 • 79 301 11922...... 1 3,096 191 129 367 868 12:. 162 • 243 • 72 • 92 400

: :::::::: :\\\::.\: = ===, =:;;;t: -l:i-1__ ": -_t -- ,.,_ - ~-=;·~=- - ~ .... _.. - ~ .:;;;:::::~----~"----r;;;: ~-

I Russia excluded. No accurate stati>tics are a.-ailable. • New boundaries. 2 Excludes Alsace-Lorralne. • Former kingdom Dcssnrnbia and Bukowina. ' Excludes Dobruja. ' . • Data complied by U. S. Departmwt of .1griculture, Bttrtau of Agricultural ~conomic1, and corredcd monthly in accordance with latest a\·aiiable information r~~ 1 ;!~ b~ that department or by Dcpq.rlmmt of Commuce, Bureau of Foreign and Domal1c Commrra. Countri~s arc plne<:'d in the order in which <•rops are h;•rwsted. Correc to Februar11 ZO. liZI. 59 SOURCES OF DATA.

SOURCE. ll.\T.\, CURRENT PUBL!C.\TlON,l DATE OF fUBLICATION. ~~------~------~------'------I.-REPORTS FROM GOVERNMENT DEPARTMENTS, FEDERAL, STATE, AND FOREIGN,

I ARGENTINE l\lJNISTER OF AGRICULTURE Cereal exports from Argentina ... ·------···--i Estadlstlca Agro-Pecuarla ...... Monthly. AUSTRAUAN CoMMONWEALTH's BU· Pr~ee Index for Australia ...... Federal Reserve Bulletin ...... Second week of month. RE.\U 011' CENSUS AND STATISTICS. IJ.\Nlt OF JAPAN ...... Pr!CC Index for Japau... ·-···------···---·'r 1 Federal Reserve Bulletin...... Second week or month. BRITISH BOARD OF TRADE ...... Pr!ce Index for United Kingdom ...... British Board or Trade Journal ••.•..••••• CANADIAN l>EPARTl!ENT OF L.I.DOR •. Pnce index for Canada...... \ Labour Gazette (Canadian) ...... Monthly. Emplo;vment in Canadian trade-unions .•..••• ! Labour Gazette (Canadian) ...... Semimonthly. Oper!'t10ns of Canadian employment service •.. , Labour Gazette (Canadian)--··--··-····-- Semimonthly. CANADIAN D&PAitTMJ.:xr o1· 'I'nADE Fore1gn trade of Canada ...... ---·····------~ Foreign trade of Canada ...... Monthly. AND COM >tERCE. Canadjan railroad operations ••••••.... ----···· Operating Revenues, etc., or Railways • ___ l\[onthly. , Can.admn iron and steel production ...... Press releases • ...... F,EDERAL FARM LOAN BO.\Ril ...... 1j Agncultural loans by land banks .... _...... J Not published ...... : ...... FEDERAl. RESERYE DANK OF ATJ..\NTA. Wholesale trade ...... Business Conditions ••• Month!~·. FEDERAL RESERVE BANK OF BosTON. Savings deposits in First Fed. Res. Dist...... \ Monthly Roview ...~~:.: •• ::::::::::::::: Monthly. FEDERAL HESERVE D.\NK Ol' CUICAGO. Savjngs deposits in Seventh Fed. Res. Dist. .•l Busjness Cond!t!ons~----·-----·------··· !llonthly. 1 Agncultural pumps ...... Dusoness Cond1t1ons ...... • ••••••••• Monthly. FEDERAl. RESERVE BANK Ol' CLEVE· Savings deposits in Fourth Fed. Res. Dist. ... Business Review... .'...... :: ...... : •. Monthly. L.\ND. FEDERAL RESERVE BANK OF DALLAS. Wholesale trade...... 1 Business Conditions ...... :.ronthly. }'~~~L RES&R\'E BANK OF KANSAS Wholesale trade·-----·-·------·······~----· 1 Business Conditions ...... Monthly. FEDERAL REs&R\'E BANK or !lfJ:o~NE· Retail sales oflumber by rural yards ...... ! Business Conditions .. ------· :\!onthly. APOLJS. I F•;DERAJ. REsJmVI; BANK or NEw 1 Foreign exchange rates and index. .. ------~· :Fed. Itcs. Bull. and dally statement • .... . Daily anIENT OF LABOR-----I Employment iu Illinois ...... ------·-· The Employment Bulletin ...... Monthly. INDIAN DEPARTMENT m· STATISTICS ... l'rice index for India...... Federal Reserve Bulletin ...... Second week or mouth. INTERSTATE COMMERCE COUAIISSION Railway revenues and expenses ...... Preliminary statement Class I roads ...... Monthly. -- Telephone operating revenue and Income ... .. Operations oflarge telephone companies .. . Monthly. Telegraph operations and income ••....••.•••• Not published ... ------­ · Express operations and income...... Not published ••. ------·--··--·---···-·-­ ~IASSACIIUSETTS D&PARnit;NT oF Massachusetts employment. ...------Monthly statement • ·--·------LABOR AND INIJUSTRIES. ~IASSACHUSETTS DEPARTMENT OF l\Iilk receipts at Boston ...... Not published ...... l'!!BLIC UTILITIES. :-.;E\V YORK ST.~T& DErARTAIENT oF New York State factory employment and Labor Market Bulletin and press releases •. Monthly. LABOR. earnings. Yeoul". ~Ew YoRK STAT& Dt:r.mutENT m· New York State canal tmffic ...... Annual report ...... ,-·------·· • I' Punuc WoRKs. L kl · r 1 p!~. ~MSYALVCAANNI'AALD-·E--P·A·R--T·.M·E--N-T__ __F __ L--A·-- Panama Canal traflic ••• ------··------·- The Panama Canal Record ...... S~~~~~~;lil~~~ue o mont'· ~.,., . 0 Unemployment in ...... Semimonthly report • ------IIOR AND INDUSTRY. U l· DEPARTMENT Oil' AORICUI.TURE- Beef, pork, and lamb production ...... Crops and Markets .... ---··-·-----"------Monthly supplement. l UREAU OF ANmAJ. INDUSTRY. Month!•· supplement. r;. DEPARU!ENT or AomcuLTtiRE- PriC\'S of f>~rm products to producers ...... Crops and Markets ...... Monthly supplement. UREAU OF AGRICUlTURAL Woo!stocksindealers'hands ...... CropsandMsrkcts...... b f ) Ecosomcs. • Crop production·------·------·.--- Crops and Markets and press rele.ascs • ____ Releasesand lOth a (otherout 1st crops). o mouth (cotton :.lonthly supplement. Cold-storage holdings and fish frozen ...... Crops and Markets •••••. ~-----~-----~--~­ l\Ioutbly supplement. l\Io\·emcnt or cattle, hogs, and sheep ...... Crops and Markets •• ------•-----• Weekly. ' Receipts of butter, cheese, eggs, and poultry •• Crops and Markets •• ----·-·---·-----·---· QuartNiy. Production of dairy products ...... Crops and Markets •••.•• -----·-·--·--·--· Monthly supplement. Car lot shipments of fruits and vegetables .... . Crops and Markets.----··-----·------·· Monthly supplement. Farm labor, wages, supply, etc ...... Crops and :Markets~------·-·------­ Weekly. I World crop productiOD------·--··------Foreign crops and markets • ------··-----­ I Crops and 1\Iarkets •••• ------­ Annually. Livestock on fariDs •••.. ------·--···---·----·· Production or Lumber, Lath, and Shingles. Yearly. U· S. UEPARTAIENT Ot' AGRICUI.TtiltE- Tot.allumber production from 1913 to 1920 •••• Yearly. FOREST SERVICE. Wood pulp production, 1914 and 1916 ••••.••••• Pulp Wood Consumption and Wood-Pulp Production. tr. S. DEPARTMENT or co~Hn;Rc&- Cotton ginned------·------· Preliminary report on ginnings • ------Semimfonthltyl during season. llt"RE!U OF TBF. CEss us. Cotton consumed and on hand---·------Preliminary report on cotton consumed •.• 15t 1'o mon 1. A t1 t t'l h' Woolmachineryandcottonspindles ·---- :llthofmonth. X:ath~r,8~i~~.~~~~~~~i~"dti~iiou·,~.;_(i5tooks::: Census of hides, skins, and leather • ------· First week or month. Cotton~e.ed and cottonseed oiL .. ------· Preliminary report on cottonseed ••••••.•.• 18th of month. Hoisery statistics•••.•.. ------Press release •------·-·-· 30th or month. Men's and boys' clothing ______, _____ Pre.."-' release • •••••••••••••••••••••••••••.. 30th or month. ;\lalleablc castings ...... Press release'·······-··-···-····-----··--- 30th of month. Wheat- flour production from 1\Iar, 192'1. ••.•.. Press release • ...... , 30th or month. Pyroxylin coated te.xtiles ••...•..•.••..•..•••.• Press release •------··---·-·------1 30th of month. Stokers, sales from January, 1923 ...... Press release • ------··········-·--··1 20th of month. stocks of tobacco held ...... -----·-----··-- Statement on stocks oflcaftobacco ...... One month a.ft~r end of

DATE Q}' PUBLICATION, DATA. CURRENT PUBLICATION. ~OURCE. I.-REPORTS ~ROM GOl'ERNl\IENT DEPARTl\oiENTS, FEDERAL, STATE, AND FOREIGN-Continued

·' d r Survey of CurrentBusine..<:S ...... Monthly. U. S. DEPARTMENT OF CO:IIliERCE­ Produc. indexes of raw mater! ,..s an .man rs.. d ·1s • Quarferly (one month after end or BUREAU OJ TilE CENSUS. Fats and oils, production, consumption, and Statistics of fats an OJ ...... quarter). stocks. • 15th of month. Fabricated struc. steel sales from Apr., 192lL. Press release ------ZOth of month. Automobile production from July, 1921...... Press release • ------··------30th of month. wood chemical operations...... Press release • ...... ------20th of month. Steel castings sales ...... ~~:: ~~:~: :::::::::::::::::::::::::::::: 20th of month. SEteellfurnitfurebshl.ipmteil~tt.s ...... Survey of Current Business ...... ---... Monthly. arn ngs 0 pu IC u I lOS...... I C t B 1 Monthly Plumhinggoodsprieelndex ...... Surveyo urren us ness .. ______· Fish catch at principal fishing ports ...... ! Monthly statement...... ------U. S. DEPARTlii!:NT OF COMMERCE­ 1 1 DUBEAU OF FISHERIES. All imports and exports ...... Mon. Su~. Foreign Commerce (!'art 1) •• · Last week of month. U. S. DEPARTMENT OF COliMERCE­ BUREAU OF FOREION AND DOMESTIC Fuel loaded for consumption by vessels at Not published ...... COMliERCE. principal clearing ports. . ~ron. Sum. For•;gn Commerce (Part II).. Middle of next month. Tonnage of vessels, entered and cleared m •• - United States foreign trade. Data on trade, employment and coal and iron Various foreign sources ...... production of foreign countries. Wholesale price of wooL ...... Wholesale Prlccs ...... ------Yearlr. Mon. Sum. Foreign Commerce (Part II) .. Monthly. Warehouse stocks of rice .. ------­ Commerce Reports ...... First weekly issue or month (~!on· U. S. DEPARTMENT OF CoMMERCE­ Vessels under construction and vessels com· days). BUREAU OF NAVIGATION. pleted. U. S. DEPARTMENT OF COl!MERCE­ Building material price indeies...... Not published ...... BUREAU OF STANDARDS. Wheat flour production, prior to July, 1920 ... No longer published...... U.S. GRAIN CORPORATION ...... RefuJery Statistics • ...... Second week of month. U.S. DEPARTMENT OF THE INTERIOR­ Refined petroleum products, production, etc .• BUREAU OF MINES. Portland cement, production, etc...... Report on Portland cement output • ...... j2oth of month. . U.S. DEPARTMENT OF THE lNT}:IUOR­ Weekly report on production of coal • ..... Second or third weekly 1ssue of mo. GEOLOGICAL SURYEY. Coal and coke production ...... Crude petroleum, production, etc ...... Preliminary statistics on petroleum' ...... 1 25th of month. Electric power production...... --. Production of electric power • ______! End of month. Consumption of fuel by public utility plnnts.. Production of electric power • ------. i End of month. Figures on nonferrous metal production ...... Mineral Resources ...... ! Annually. U.S. DEPARTMENT OF THE lNU:RIOR­ Patents granted...... Not published ••• ------1 U. S. PATENT OFFICE. U.S. DEPARTMENT OF THE lNTERIOR­ Visitors to National Parks ...... ------Not published...... ------~~l\lonthly. DMSION OF NATIONAL PARKS. U. S. DEP.~RTliENT OF LABOR-Ell· Number on pay roll-United State~ factories .. Industrial Survev • ------First week of month. PLOYMENT SERVICE. Employment agency operations ...... Report of Actlvliies of State and l\1unici- Every 4 or 5 weeks. pal Employment Agencies. U. S. DEPARTMENT OF LABOR-BU· Immigration and emigration statistics ...... Not published------· -----1 BEAU OF !lDIIGRATION. U, S. DEPARTMENT OF LABOR-BU· Wholesale prices of commodities, including Wholesale Prices of Commodities.- , RE.~U OF LABOR STATISTICS. farm products, food, clothing, metals, etc. 1 Wholesale price index ...... Monthly Labor Review ...... ------i :Monthlr. Retail price index of foods ...... Monthly Labor ReviijW ...... ___ ------~~ Monthly· Retail coal prices.. ... ------Monthly Labor Review ______Monthly. U.s. PosT OFFICE DEPARnri

11.-nEPO.RTS l'RO~I T.RAUE MlSOCIATIONS AND PRil'ATE ORGA~"'IZATIO~S. (t:xcluding individual firms reporting data to be combined with other firm• or trade associations.)

ARERillA\~-- CoNSTRUCTION Co ...... ! Building costs ...... - .... 1 Construction trade papers...... :~~ ABRASIVE P+PEER AND CLOTn J\IANU· : Salfl of abrasive paper and cloth...... Not published ...... FACTURERS XCHANGE. ' AMERICAN MANUFAOTUREBS Assocu- ; Corn ground into starch, glucose, etr .. . Not published ...... TION OF PRODUCTION FROM CORN. I AMERICAN BUREAU OF METAL STA· j Copper, silver, and lead production ...... : Not published ...... TISTICa. 1 Zinc production in Belgium ...... : Not published...... Zinc stocks in United Kingdom ..... ----·----' Not published ...... ::::::::::: ...... :: AMERICAN FACE BRICK AssociATION ..I Face brick production, stocks, ct~ ...... : Not published ...... ___ ......

AMAERICAS NEWSPAPER PUBLISHERs' I Stocks of newsprint paper...... !/ Monthlyreport...... c ...... Monthly. SSOCIATION. I AMERICAN !RON AND STEEL INSTITUTE., Steel (ngot production ...... ; Press release to trade papers • ...... 7th of month. AMERICAN PETROLEUli INSTITUTE .... I Gasoline and kerosene consumption._ ..• __ ••.• 1 Special statement AMEBIC.L'i" Pro IRON ASSOCIATION ...., Merchant pig Iron production, etc ...... [ Not published ...... --- .. ----

All~RICAN . RAI!-Vf ~Y AssoCIA noN Freight car surplus and shortage ...... 1 Car Surplusages'ai1ci'siiortoi;~i:' <::::::::: Weekly. (Car Service DIVISion). Car loadings and bad-order cars .... __ ...... 1 Information Bulletin • Wccklv. AMERICAN TELEPHONE AND TELE• ! Stockholders in the company...... ! l'inanCil\l p~pe- ...... Third \\'cck of mouth. GRAPH Co.: 1, 1 '"------Ali}EBICAN W A_LNUT MANUFACTURERS' i Walnut lumber and Jogs...... I Not published.. Quarter!)' . •-.SSOCIATION. i ! ...... AMERICA~ WRiflli? PAPER COMPANY .i Purchases and sales qf paper ...... ! Not published ...... AMEBICAN ZINC I:>STIIUTE ...... I Produc. and stocks zmc, retorts operating ..... ! Press rele&Se to trade papers • 13th of mouth. A~~"~ciTI;; BUREAU OF -INFORMA· [ Anthracite shipments and stock~ ...... --I statement of ~nthrncite shipmetiis ··~·.::: :: 15th of month.

AssoCIATEDFAOTURERS' KNIT ASSOCIATION. UNDERWEAR MAN-~ Knit underwear production...... ------1 Monthly renort.- • ...... ,' MonthJu.' .~SSOCIATION OF L!i'E INSURANCE New !Jfe insuran~e business ...... , Not published ...... PRESIDENTS. PremiUm collectiODS ...... Not published I -~~oT~g;_ILE MANUrJ.CTURERS' Asso-! Automobile accessory sales ...... Trade Papors.::::::::::::::::::::::::::::1 Monthly. B~1~!L ~~:E CoD AND NEW YoRK \ Cape-Cod Canal traffic...... , Not published ......

• MultliJ'Sphed or mimeographed sheets. 1 lmportallud export~ or gold and ~liver ln Part II. 61 SOURCES OF DATA-Continued.

SOURCE, DATA, CUitl\ENl' PUIILICATION. DATE OF I'UIILICATION.

11.-REPORTS ],'ROM TRADE ASSOCIATIONS AND PRIVATE ORGANIZATIONS--Continued. (Excluding indlvidunltlrms reporting data to be combined with other firms or trade associations.) 0 ~~i~g:SOCIETY. ~=:a~ 0:N~o~:REu~~~-RAL_' ~:g~~~!~e~• :~~~rJr~ :i:J·sales·b·e-fo~~~:il;· ~raieo onger pa;:;:.~~--:~- published ______~------~-:-~:-. _.:=~~_._.=r~:il~. _ 1922 BUREAU OF RA-ILWAY EcoNOMICR ...... Number of tons carried 1 mile ______Summary of 0}1erating statistil•s ______Monthly. Average receipts per ton-mile...... ______.. Not published ...... Pa'!fengcrs carried 1 mile ...... Summary of operating statlstirs ...... Monthlr. Ra way .emp!oyment...... ______Not published ...... LocomotivesPer cent of earnings 111 bad onorder------···-··------~ valuation ...... Not published--published ...... CALIFORNIA REDWOOD ASSOCUTION •. Redwood lumber production, etc...... Not publishe

R"cent rm!,Jieatior,.; oi ohe !),~l'arhu()nt of Commerce having the must direct intcrc.-;t to reotder.; of t.he Sunvr-:Y oF CumtENT Bu;.;I~;r~bc; are li;lerl IJ\'l,q·. .\ complct0 list muy he obt.nined by addressing the Division of Publication::;, Department of Commerce, at Was!JingLon. Copie.-: tJf the publication;; may he purchased from the Superintendent of Documents, Government Printing Office, Waflhiugton, at thn prices stated below. If no price is mentioned, the publication is distributed free.

Ol''I<'H;~<; 01!' '!'Ul~ SECRETARY. mation Bulletin No. HH; 2G pa~es. The report contains a review of market condit-ions in the priiicipal paint--con~umin~ countries Woven-Wire .i•'cne!ng: Slmplifled Practice Recom- of the worlrl, and ;:tatisties of export,.; from the UuiLcd ~lates mendation l'Jo. 9.---This is in addition to the Elimination of for 1922 and the first six months of l\.l2:l. \Vaste ;-;eri!·~, and· conl!:tin;; an armouneement of the sizes and Markets for Paper and Paper Products in Chile and styles of woven-wire fencing aR adopted by a joint conference Pe_..u, prepared by the Paper Division from reports by consular of manufae"urer:,;, distributor::;, and users. Price, 5 cents. officers all(! represcnbtivcs of the Dcp:trtmcnL of Commerce. Trade Information Bulletin No. 158; 21 pages. In this pam­ m.;IU~AU OJ<' THE CENSUS. . phlet :•.n endeavor is made to aid tlw American manufacturer to tli'or citcubr:; ~h·in;~ plan of puhlif~ntion HOd rli~tribution or Fourteenth CerL~\13 understand the neecb of the Chilean and _Peruvian markets in pui>Hc:"tlons mldrt.·~..;s tht) Dirc<:tur or tho t_::li"USU.. <;.} order to meet the greatly incre:tsed foreign competition. (Jensus •lf manufadurcs, 1921.--Inrlustry bulletin series; Industrial lUachlnery 'l'rade of Italy, by A. A. Osborne, Mnsical imtrumtmts am! phonographs, 28 pages; printing and American trade commission, Rome. Trade Infnrmation Bulle­ publishing an1l alliell industries, fi3 pages; the drug industry, 26 tin No. 169; 20 P'tges. In this review are embodied the results pages; mar ufactured gas, 35 pages; silk manufactures, 13 p11ges. of a special investigation of the possibilities of sc!lin~ Ameriean State comz>cndiums, 1920.---Alabama, 121 pages, price 20 machinery in Italy. Pc,ints of special development arc: The scope of the market, Italian import trade iu machinery, cents; :\rizJna, sn page~, 15 cents. 1\ionog-r:lpb. ---1\Iortgages ou homes in the United States, competition between Italian and foreign rn:tnufacturers, how 1920. '277 pages, price $1.25. to sell in It:tiy, United i:itate-, exports of industrial m3chinery F'orest l't·oducts Ser:es, 1922.--Turpentinc and rosin, 6 to Italy in recent years, including 19:n. pages. BUREAU OF FOREIGN AND DOMESTIC COM.lUERCE. Artificial Propagation of Wblteflsh, (il'ayliug, aml J,ake Commerce Reports.-A weekly survey of foreign trade. Tl'out, by Gien C. Leach, assistant in charge of tish culture. Cable 8Umm~tries of world conditions and articles 011 situation Bureau of Fisheries Document No. H-1\J; :.::2 pages. For the in various commoditie~ in foreign countries. Quarto, 72 pages. types of fi~h included, t.he points di~C\!8sed are range and Price, 10 cent" per eupy; $:{ per year ($5 for foreign). description, habits, commercial valne, meti,,x!.; use\ cu~t.am;-; districts, movements of gold and si1v~~r il• f·~rf'i:rn trade, 1llOrehandiRC re1naining in "·archouse, Pneumatic Tires, Su~id Tires, and Inner 'l'ubes, ~;nHed and trade 11·ith :"'"'·onti~(llO!h; territories of the United States. l'rir•e, 10 ,. ~nl..·;, ineh1ding both parts; $1 per year. Stat~s Hovernmeni S;wcification.--Circular :-;-u. 115. Cont:J.ins ~t:1mhrd sper~ifleai.ions oflieiallv adopted hy the I<'nrl'h~n ('om nu·n~e an.11 Navigation of the Unfted Federnl Spccifkat-ions B<~:trd for use of UoYerirmcnt depart­ Statet>, C:tiCiHhu· Yt~a:r 192:!.---Complete statistics of imports and ex pori,; of eornmflditics by quantities and value, hy coun­ ments in the purc!tcl.cC of malorials. tries of ori~in and <:e,;J,ination, and hy custams districts; trans­ nmn:AU 0!1!' :•L\VIGATION. shipment tmde; imporl~ awl export'< of gold and silver; mun­ ber a:Hl tonnage of 1·es~Pis enkred aud cle:1red, by countries Seag()ing ~·essel:~ of Hw UnHcd Stat<'S, 1!)~~:>.---Part VI lllJ(] nntimmlitv or ve:;sel: nnd amounts of dntv collected on of the fift1·-ftfth a11ntw.l lio;t of men~hant ,·es,;els of the United import". Qu:{rt.n, 7-'il.i pa~es; price, :j;l.50, bou1;d in cloth. States for ·tl1e ve:.tr ench•rl Jane :lO. UJ2:3. l'ri<'c, ;3;, cents. (;Qmm<'l'l'e Yearbonk, 1W!2.---This work has been prepared Commercial a:Hi Grrn-N.nment ltadlo Stations of the to nwl'L i-!: :• demands frll· an authoritative review of the e~o,;omic United State:;, edition of .June :l(), 1!.)2:). Price. 1;) cents. year. This tir.,t issue cover;' not only 19:22, but includes Amat2t1r Ua!liio Sta.t~ons 0f the United Sta!:es, Pdition st.atisties fo1· the first part of 19:!3. Subjects l production; prices, stock,;, and m:~rket conditions, CO.\S'r AND G~ODE''l'1C s:;3:!V~Y. employment and wau;es, m:lllllftwtnring :wd mining inch!stries; construeti·m entcrprisP:;; .n~rieultural production and tr;1de in Results of Obsn·o:ati0ns M~Jc :~t i.h~ UnHed State3 agriel!ltunl products; finances and banking; transport-ation; Coast a:1d Geoll"tle Su!'vey Magnetic Obs0rvat()ry at foreign t1 ade; ecorwmie anrcign cormtries. The book is substantially bound in cloth; ant chief, Divi;-~iort nf ~l'erre;-;tri:li .\Iagnetisrn. ~l,hc report priee, tiO as Supplement>< to Commerce Report<;. These neti~m, ancl \Y. E. Parker, (:!lief, Division nf Hydrography and review~ contain statistics of foreign tmde for 1922. The fol­ Topography. Speei:tl Bullccin No. ~Hi; -1\'J pages. Price, 15 lowing have become available since the Dc.cember announce­ cents. ment: Nc. 3:~, Switzerland; i'~o. 34, India; 01o. 35, Turkey; Precise I,,cve~ing ii_t ~-l.ec:rg!;t,, by. !Ienr_.v G. Averi!, mathe­ :\fo. 3:), Ad~n. matician. Specwl Puulwctolt>H No. \,;y; l!J7 page;;. Prlce, 15 Principal l''catures of Chilean Finances, by Chn.rles A. cents. McQueen, ~;peeblngent. Tm.dc Information Bulletin No. 162; 21 pages. A s11rvey of public finance in the various Latin Am,·ric:m countrie:> is under way, and the bulletin on Chilean li u:111ee is the first of the serie~. Buoy Msts. llavrai!an a7ld Samoan Islands, :mid Porto F'oreig .1 l\:l and fishery industries Decennial statistics relating to inmates of institutions, in-· anct the utilization of fishery products. eluding paupers, insane, prisoners, and juvenile delinquents. The collection of statistics of fisheries. A eensus of agriculture in e:tch middecennial year, a biennial The administration of the Alaska salmon fisheries, the fur-eeal cemms of manufactures, a quinquennial census of electrical public utilities, statistics of marriage and divorce. herd on the Pribilof Islands, and the law for the protection of Annual stati,.;tics of births, deaths, causes of death, etc., in sponges off the coast of Florida.. the registration arett of the United States. Quarterly statistics of leaf tobacco stocks and of production, BUREAU OF LIGHTHOUSES. t~tocks, und consumption of fats and oils. Monthly or semimonthly statistics of cotton ginning; cotton GEouaE R. PuTNAM, Commissioner. stocks and con;;umption; the production, stocks, and consump­ Chief functions. tion of hides and leather; the production of shoes; and statis­ tics of active textile machinery and of movements in an increas­ The establishment and maintenance of lighthous~s, light­ ing number of other industries. ships, buoys, and other aids to navigation on the see. and the The compilation and publication, in the "Survey of Current lake coast and on the rivers of the United States, including Business,'' of monthly commercial and industrial statistics. Alaska, Hawaiian Islands, and Porto Rico. The publication of Light Lists, Buoy Lists, and ~·otices to Mariners, including information regarding all aids to navigation BUREAU OF FOREIGN AND DOMESTIC COMMERCE. maintained by the Lighthouse Service. · Jur,IUS Kr,EIN, Director. Chief functions. The compilation of timely information concerning world COAST AND GEODETIC SURVEY. market conditions and openings for American products in for­ E. LESTER JoNEs, Director. eign countries Recured through eurnmercial attaches and trade Chief functions. commissioners of the Department of Commerce and the foreign service of the Department of State. The distribution of such The survey of the coasts of the United States and 1.he publi­ information to American business through weekly "Commerce cation of charts needed for the navigation of the adjacent reportH," special bulletins, confidential circulars, the news and waters, including Alaska, the Philippine Islands, llawaii, Porto trade presB, correspondence, and personal contact. Approxi­ Rico, the Virgin Islands, and the Canal Zone. mately 3,000 trade inquiries are an,;wered daily by the bureau A comprehensive geodetic 8ystem, extending into tiJ.~ interior, and its nine distriet offices. connects and coordinates the surveys of the coasts, ~.nd is de­ The maintena.nee of commodity, technical, and geographical signed to furnish accurately determined points and devations divisions to afford !:lpccial service to American. export industries. in all parts of the country. These are available as a basis for The compilat,ion and di~tribution of names of possible buyers Federal, State, and municipal surveys, and engincerin; projects and agents for Amcriean prodt1ct" in all parts of the world and of every kind. The magnet.ic declination has been ddermined puhlieatiun of weekly lists of specific sales opportunities abroad. at a large number of stations throughout tJ,c eouJJtry, and the The maintenanee of district ail<, metals and metallurgy, and t:imilar groups oi ,;uhjeet~. The C•>li<·etioll awl di~scminn.tion of information showing ap­ STEAMBOAT INSPECTION SERVICK proved method,, in building. planning, and construction, includ­ GEORGB UHLER, Supervising In~pert.or Gene:·al. ing building; materials nnd codes and snch other matters as may Chief junctions. encourage, improve, awl eheapen eow;truction :tll(l housing. Studies on ,.;implified conullereial practices and establishment The inspection of vessels, the licensing of the o1fic•~rs of ves­ of such practice:-; through e:JOperative business organizations. sels, and the administration of laws relating to suel1 ve'