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AUGUST 1935 SURVEY OF CURRENT BUSINESS UNITED STATES DEPARTMENT OF COMMERCE BUREAU OF FOREIGN AND DOMESTIC COMMERCE WASHINGTON VOLUME 15 NUMBER 8 NATIONAL INCOME for 1934 is discussed in an article on page 16 by Robert R. Nathan, Chief of the National Income Section of the Division of Economic Research. Income paid out in 1934 increased to 49.4 billion dollars, a gain of 11 percent over the year 1933. Every type of income pay- ment, with the exception of interest, was higher. Labor income was up 14 percent. Property income increased very slightly. Income paid out in each of the 12 major industrial groups except 1, was higher in 1934, the relative gains ranging from 31 percent in mining to 3 percent in the communications industry. The only decline was the drop of 2 percent in the electric light and power industry. UNITED STATES DEPARTMENT OF COMMERCE DANIEL C. ROPER, Secretary BUREAU OF FOREIGN AND DOMESTIC COMMERCE CLAUDIUS T. MURCHISON, Director SURVEY OF CURRENT BUSINESS Prepared in the DIVISION OF ECONOMIC RESEARCH H. GORDON HAYES, Chief M. JOSEPH MEEHAN, Editor Volume 15 AUGUST 1935 Number 8 CONTENTS SUMMARIES AND CHARTS STATISTICAL DATA—Continued Page Business indicators 2 Monthly business statistics: Page Business situation summarized 3 Business indexes 22 Comparison of principal data, 1931-35 4 Commodity prices 23 Commodity prices 5 Construction and real estate 24 Domestic trade 6 Domestic trade 25 Employment 7 Employment conditions and wages 27 Finance 8 Finance 31 Foreign trade 9 Foreign trade 36 Real estate and construction 10 Transportation and communications 37 Transportation 11 Statistics on individual industries: Survey of individual industries: Chemicals and allied products 38 Automobiles and rubber 12 Electric power and gas 41 Forest products 13 Foodstuffs and tobacco 41 Iron and steel 14 Fuels and byproducts 45 Textiles 15 Leather and products 47 SPECIAL ARTICLE Lumber and manufactures 48 National Income Increased Five Billion Dollars in 1934 16 Metal and manufactures: Iron and steel 49 STATISTICAL DATA Machinery and apparatus 51 New and revised series: Nonferrous metals and products 52 New series: Employment and pay rolls in the durable and non- Paper and printing 53 durable groups 19 Rubber and products 55 Revised series: Reconstruction Finance Corporation, loans out- Stone, clay, and glass products 56 standing; electric street railways and busses—operating revenue Textile products 57 and revenue passengers carried 19,20 Transportation equipment 58 Copper, production, shipments and stocks 1931-34 20 Canadian statistics 60 Weekly business statistics through July 27 21 General index Inside back cover Subscription price of the SURVEY OF CURRENT BUSINESS is 31-50 a year. Single-copy price: Monthly, 10 cents; weekly, 5 cents. Foreign subscriptions, 33, including weekly supplements. Make remittances only to Superintendent of Documents, Washington, D. C. 4231—35 1 SURVEY OF CURRENT BUSINESS August 193." Business Indicators 1923-25=100 INDUSTRIAL PRODUCTION INDUSTRIAL PRODUCTION 160 160 MANUFACTURES MINERALS (Adjusted)® MAdjusted)9 | 1OO 1OO —^ TO1^AL (Adjusted)) J\ I 40 mnl HIM II11 i 111111 111II In,,, mnlmi! ! I I III IMil 40 i MI11111 ! j || | | | 11 i 111 I | | | 11 MM!; ! I ILL ! [ 1111 i 111 ! FACTORY EMPLOYMENT AND PAYROLLS CONSTRUCTION CONTRACTS AWARDED 160 200 1OO 1OO EMPLOYMENT (Adjusted. 40 ^^ PAYROLLS (Unadjusted) TOTAL FREIGHT CAR LOADINGS FREIGHT CAR LOADINGS L. C:. L. 160 i 160 i 100 100 '^^e^^Unadjusted Adjusted Unadjusted-? Adjusted 40 1 1 1 ! 1 1 1 ! 1 1 1 1 1 1 1 1 IN 1 1 1 1 HIM 1 1 1 1 1 1 i 1 1 1 1 1 1 1 1 1 1 II ! 1 1 1 1 1 1 11 1 14 10 I 11 in Ii111111111111111 111 I II II I I II I I DEPARTMENT STORE SALES WHOLESALE PRJCES 200 1 60 100 1OO LL COMMODITIES C-L 1 - ^LL*-^\J*— /^ooooo 40 1II11 1 1 1! 1n <1¥H>mtoojQLM^^ 11 i i! I 1 1 1 1 1 IMI !l I I1 ! 1 III 1 -FARM PRODUCTS VALUE OF EXPORTS VALUE OF IMPORTS 200 200 1OO too Adjusted Adjusted •**•% • -.». | HIM liillllllll lM|| 0 11111111111 I I 111 1 II 1 ! 1! !1II 1 i! ill 1 I ! ! ! 1 1 ! i 1 ! BANK DEBITS OUTSIDE NEW YORK CITY FEDERAL RESERVE MEMBER BANK 200 160 V * 1OO 1OO Y TOTAL ALL OTHER J^ Unadjuslet (CotnTrwra'&i) i 0 1 i II n Ini M J.NII Mil! 40 UJILLLLLLL II II I I I I I ! i 1931 1932 1933 19341 1835 1931 11932 1933 1934 1935 @ ADJUSTED FOR SEASONAL VARIATION * REPORTING MEMBER BANKS August 1935 SUEVEY OF CURRENT BUSINESS Business Situation Summarized BUSINESS activity during July has shown resistance of iron and steel and textile production were about the to the seasonal influences which usually make for same as in May; increases were reported for the cement, contraction at this time. Reports on retail sales and tobacco-maniifacturing, electric-power, rayon, and construction activity indicate improvement on a sea- machine-tool industries. sonally adjusted basis, freight-car loadings have The decline in factory employment in June was declined, while the available data do not indicate much offset by increases in nonmanufacturing industries and change in the adjusted index of industrial production. in agriculture so there was probably little or no net Outstanding among July developments was the change for the month. Average hourly wages in sharp recovery in the steel industry. After moving factories were the same in mid-June as in May. downward from February to the first week in July, The June improvement in retail sales has con- operations expanded steadily from 34 percent of tinued during the present month with gains in rural, capacity to 45 percent in the final week of the month. areas especially pronounced. Farm income has re- Only part of the gain was attributed to the automobile mained well above a year ago, although the Depart- industry which enjoyed a relatively large volume of merit of Agriculture estimates indicate a larger-than- sales during the month. The further increase in seasonal decline in cash farm income in June and a electric power production was also a favorable indica- less than usual rise in July. Department store, tion, although the movement of freight by the railroads variety store, and rural general merchandise and new has continued to lag. Lumber business has been passenger automobile sales were all higher, on a better this month and building supplies generally have seasonally adjusted basis, in June than in May. benefited from, the modest improvement in private Commodity prices have moved slightly lower since construction operations. May, but there has been practically no change in the During June, the decline in manufacturing output index of finished products. Security prices have been approximated the usual seasonal change; mineral out- strong, with many individual stocks reaching new put increased substantially, influenced by the large highs for the year. Earnings statements of industrial expansion in the coal industry. The contraseasonal corporations for the second quarter reveal improve- increase in automobile production, following the decline ment over the first quarter and over a year ago. in May, was influential in halting the decline in the Refunding bond issues were again put out in large index of manufacturing output. The adjusted indexes volume in Julv. MONTHLY BUSINESS INDEXES Factory em- Department Foreign Industrial production ployment Freight-car loadings store sales, trade, value, and pay rolls value adjusted 2 !l Adjusted 2 I Merchan- Unadjusted ' o Total jl discl.cl. s SB I! Year and month i 1% I't i= 3 I -B ft I Monthly Monthly average, 1923-25=100 average, 1926=100 1929: June 25 127 110 125 i; 127 114 105. 9 111.2 110 108 105 105 i 108 113 116 115 113.8 126 95. 2 1930. Juno 99 98 103 98 I; 97 102 93.2 92.3 95 93 98 98 | 98 103 87 82 124.8 99 86.8 1931: June 83 83 80 83 w 82 73. 8 69.7 77 77 89 89 ! 92 96 55 *7 98.4 63 72.1 1932: June 59 58 62 58 61. 6 43.4 52 52 71 71 on 69 34 36 65.4 63. & 1933: June 84 83 87 93 67.4 47.2 61 62 69 69 I 04 68 36 40 65.7 65. C 1934: June 84 84 84 83 81. 5 64.9 64 64 65 65 ! 70 74 50 44 74.8 74. e> July 73 71 84 76 74 79. 5 60.5 G3 61 64 65 ; 51 73 48 43 70.5 74. S August 73 71 83 73 79.3 62.2 63 59 65 65 | 60 77 49 39 68.0 76.4 September.. 73 70 87 73.9 58.0 67 59 67 64 | 79 75 48 43 65. 3 77. ft October 75 73 87 • 73 76.8 61.0 64 57 06 63 82 73 45 39 73.3 76.5 November.. 74 73 84 74 76.7 59.5 60 59 65 04 83 74 45 47 68.0 70. 6 December 77 7G 85 86 78.9 58 64 62 66 135 78 43 41 79.6 1935: January. 88 87 91 90 90 80.5 04.1 64 61 05 59 74 45 51 t'0. H 78. £• Febru-irv 91 91 92 89 81.9 69. 1 61 65 63 65 01 75 47 1 48 66.8 79. f March./. .. 90 90 90 88 82.4 70.7 62 65 65 64 82 48 | 49 80.3 79.4 April 89 91 79 86 1 82.3 70.8 59 61 65 63 73 46 | 49 79.8 80 1 May 87 87 88 85 86 81.2 68.5 61 61 65 63 76 70 52 i 79.4 80^2 June 88 84 97 80 84 80.0 86.5 83 64 04 7U b0 50 51 ! 80.7 79.
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  • AL GAZETTE COLONY and PROTECTORATE KENYA Published Under the Authority of His Excellency the Governor of the Colony and Protectorate of Kenya

    AL GAZETTE COLONY and PROTECTORATE KENYA Published Under the Authority of His Excellency the Governor of the Colony and Protectorate of Kenya

    THE AL GAZETTE COLONY AND PROTECTORATE KENYA Published under the Authority of His Excellency the Governor of the Colony and Protectorate of Kenya Vol. XXXVII.-No. 39 NAIROBI, August 13, 1935 Price 50 Cents Registered as a News~averat the G P. 0 Published every Tuesday TABLE OF CONTENTS PAGE ~Govt.Notice No. .561-Arrivals, Departures, Appointments, etc. ... ... ... ... ... 900 Proclamations Nos. 75-76-The Diseases of Animals Ordinance . ... ... ... 901 Govt. Notice No. 562-The Native Authority Ordinance-Appointment ... ... ... ... 901 ,) ,, ,, 563-565-The Justices of the Peace Ordinance-Appoint~~~entsDetermined ... 902 , 3 y j ,, 56GThe Mining Ordinance, 1933-Exculsive Prospecting Licences Renewed ... 902 , t , , .. 567-The Native Authority Ordinance-Appointment ... ... ... ... 903 , t ,I , , 568-The Resident Native Labourers Ordinance-Appointments ... ... 903 ... ... ... ... ,! 3 , .. 569-The Townships Ordinance, 1930-Appointment 903 ,) ,, ,, 570-The King's African Rifles Reserve of Officers Ordinance, 1927-Appoint- ments ... ... ... ... ... ... ... ... 903 dJeneral Noticea Nos. 1012-1035 ... ... ... ... ... ... ... ... ... 903 SUPPLEMENT ORDINANCES. 90t) THE OFFICIAL GAZETTE Augqst 13, 1935 A OVERNMENT NOTICE NO. S61 A RRIVA LS Name lj Rank F1srto mA plepaoyme tomre onnt jl DatEen ogfl alenadw ng 1l Emobartek aotfi on oaat teM oof marbraivsal 1 I t H l . R. Senior Juuior Postmaster Leave f 29th June, 1935 - 31st Julyj 1935 * L. Shoolman Government Coast Agent do i 20th June, 1935 - 2nd Aug., 1935 Mrs. X .D. Smit Education Omcer do 'i - :3:.d July, 1935 f do 'W . P. Bruce Laboratory Asst.. Agrie. Dept. da 1 1 th July, 1 93S - 6th Aup, 1935 B. B. Donald Supdt. of Prisons do do .- do SJ. MacMunn Education Oflicer do l do do .