Survey Of Current Business July 1921

MONTHLY SUPPLEMENT TO COMMERCE REPORTSUNITED STATESDEPARTMENT OF COMMERCEWASHINGTONSURVEY OFCURRENT BUSINESSJULY 1, 1921COMPILED BYBUREAU OF THE CENSUSBUREAU OF FOREIGN AND DOMESTIC COMMERCEBUREAU OF ----WASHINGTON :: GOVERNMENT PRINTING OFFICE1921

INTRODUCTION.To visualize the current trends of business and industrymonthly, the Department of Commerce has found itnecessary to condense and compile a large volume ofinformation. These facts have been of service to theDepartment in its attempt to grasp the changing businessconditions. It is believed they may be useful to thebusiness public and that the figures, in some measure,will assist in the enlargement of business judgment.To concentrate such a mass of information in convenient form and to make it useful for study and comparison, the data have been coded into relative figures,or index numbers, where necessary. These index numbers enable the reader to see at a glance the generalupward or downward tendency of a movement, whichcan not so easily be grasped from actual figures.STATISTics CoMPILED FROM VARIOUS SouRcEs.The basic figures used in the accompanying tables arelargely those already in existence and are collected fromGovernment departments, trade associations, etc. Incases where the basic data have been collected by outsideagencies the Department of Commerce assumes no responsibility for their accuracy or completeness. The figuresused, however, are in some cases those generally acceptedin business circles as sufficiently complete to represent thecurrent trend of the given industrial movement, and inother instances are vouched for by the trade association.To be of value such information must be widely diffusedand digested by the business men of the country. It isnot enough that the banks and the big business concernsshould understand the trends in business; the smallmanufacturer and the small dealer must have someunderstanding, too, so that there may be some semblanceof unity in action. The Department hopes to reach thisaudience by offering to them these data.In preparing these figures every effort is made tosecure accuracy and completeness. On the other hand,it is realized that timeliness is often of more value thanextreme accuracy. In certain cases it is necessary touse preliminary figures or advance estimates in order toavoid too great delay in publication after the end ofeach month.How RELATIVE FIGUREs ARE CoMPUTED.In computing the relative figures, the attempt hasbeen made to use the average of the last prewar year,19I3, as a base equal to 100. In many instances thebasic statistics do not go back to the prewar years and,in such cases, averages for the year I919 have beentaken as a base. In a few cases still other base yearshave been used for special reasons. These facts, together with the source of the basic data, are indicatedin the several tables. Certain commodity movements,such as the production of cottonseed oil, cold-storageholdings, etc., are very seasonal in character. Incalculating the index numbers no allowance has beenmade for this, since it was thought better to let thisfact show in the relative figures themselves.For those unfamiliar with the use of such relativefigures a word of explanation is necessary. Take thefigures in the first column of 'fable 2, ·which deals withthe bank clearings in New York City as reported monthlyby Bradstreet. In I9I3 the average monthly clearingamounted to 7,886,ooo,ooo. This number is allowedto equal Ioo on our relative scale. In January, I92o,the total bank clearings were 23,2 w,ooo,ooo, or equivalent to a relative number of 294, when the I9I3 averageis taken as Ioo. In June, I92I, bank clearings in NewYork City were only I6,849,ooo,ooo, or on the relativebasis only 214. By subtracting Ioo from any relativenumber we obtain at once the per cent increase or decreaseabove or below the base year. 'rhus bank clearings inJanuary, I92o, were I94 per cent above the I913 average,and in June, 192 I, they were I I4 per cent above thesame base. In the number of business failures, as reported in column 3 of Table 2, the relative number forJanuary, 1920, is 43, indicating a decrease for that monthof 57 per cent below the I913 monthly average.(3)

CONTENTS. .-BANKINGAND . FINANCE.DaJafrom GO'VeTnment sources.(Table Ia, p. 6, and Table lb, p. 7.)Debits to individual accounts:In New York City.Outside New York City.Federal Reserve:Deposits and note liabilities combined.Bills discounted.Notes in circulation.Total reserves.DaJafrom commercial and trade sources.(Table 2a, p. 8, and rable 2b, p. 9.)Bank clearings:In New "l!ork City.Outside New York City.Business failures:Number.Liabilities.Dividend and interest payments.New capital issues.New York Stock Exchange sales:Stocks.Bonds.New York closing price:25 industrials.25 railroads.11.-PRICE INDEX NUMBERS.Data/rom GO'Vemment sources.III.-COST OF LIVING-continued.(Table 6, p. 13.)Cost of living:Food.Shelter.Clothing,Fuel and light.Sundries.All items weighted.Earnings:Average weekly in New York State.Average weekly in N cw York State relative to theyear 1914 as a base.IV.-EARNINGS AND EMPLOYMENT.(Table 4, p. ll.)All commodities:Dun's Review.Bradstreet's.Foreign prices:United Kinedom.France.Italy.Germany.m.-COST OF LIVING.DaJa from G07Jernment sources.(Table 5, p. 12.)Food.Clothing.Housine.'Fuel and light.Furniture and house furnishines.Miscellaneous.TotaliFreight·car deficiencies:Box cars.Coal cars.Total cars.Average car loadings per week:Grain and grain products.Live stock.Coal.Forest products.Ore.Merchandise L. C L. and miscellaneous.Total.VII.-FOREIGN TRADE MOVEMENTDaJafrom Government sources.(Table 7a, p, 14, and Table 7b, p, 15.)(Table lla, p. 22, and Table 11 b, p. 23.)Earnings-Average earnings in selected industries:I ron and steel.Automobile manufacturing,Car building and repairing.Cotton manufacturing,Cotton finishing.Hosiery and underwearWoolen.Silk.Men's clothing.Leather.Boots and shoes.Paper Jnaking.Cigar manufacturing.Employment:Number of persons on pay roll of 1,428 firms.V.-RETAIL MOVEMENT.DaJafrom commercial and trade sources.Data/rom commercial and trade sources-continuedData/rom Go-vernm-ent sources.(Table 3, p. 10.)Goods produced (72 quotations):Imported (18 quotations).Exported (39 quotayons).Raw material (39 quotations).Producers' jloOOS (JI qUOtations).Consumers' goods (20 quotations) .All (go quotations).Wholesale-all commodities.Retail-Food.Farm prices:Crops.Live stock.VI.-TRANSPORTATION-continued.Data/rom commercial and trade sourcesData from commercial and trade sources.(Table 8a, p. 16, and Table 8b, p, 17.)Mail-order houses:Sears, Roebuck & Co.Montgomery Ward & Co.Total.Ten-cent stores:F. W. Woolworth Co.S. S. Kresge Co.McCrory.Total.Magazines:Lines of magazine advertising.VL-TRANSPORTATION.Data /rom Government SQUrces.Merchandise:Total imports.Total exports.Tonnage cleared.Panama Canal traffic.Tonnage:Under construction.Completed.Foreign exchange rates:Sterling.French.Italian.German.vm.-cROP PRODUCTION.DaJafrom Guvernment sources.(Table 128, p. 24, and Table 12b, p. .Total posite condition of all crops, relative to 1o-yearaverage.(Table 9a, p. 18, and Table 9b, p. 19.)Total revenue freight carried per quarter year:Agricultural products.Animal products.Mine products.Forest products.Manufactured products.L. C. L. merchandise.Grand total.Canal traffic:Sault Ste. Marie.DaJa from commercial and trade sources.(Table lOa, p. 20, and Table lOb, J'· Zl.)Freight-car surplusa res:Box cars.Coal cars.Total cars.IX.-MOVEMENT OF FARM PRODUCTS.DaJafrom Guvernment sources.(Table I3a, p. 26, and Table 13b, p. 27.)Exports of grain, including flour and meal as jlfains:Barley and barley flour.Corn and corn meal.Oats and oatmealRye and rye flour.Wheat and wheat flour.Total grain.Cotton::Exix Imports.Cottonseed:Stocks.Oil stocks.Oil production.(4)

5IX.-MOVEMENT OF FARMPRODUCTS .n.XIV.-METALS AND METAL PRODUCTS.Data from commercial and trade sources.Data from Government sources.(Table 14a, p. 28, and Table 14b, p. 29.)(Table 20a. p. 40, and Table 20b, p. 41.)Wheat:Flour production.Visible supply.Receipts.Shipments.Com:Visible supply.Receipts.Shipments.Cotton:Visible supply.Sugar,;Melting and rawStocks.X.-LIVE-8TOCK MOVEMENT.Data from Government sources.(Table !Sa, p. 30, and Table !Sb. p. 31.)Live stock--{;attle, hogs, sheep :Total receipts.Total slaughter.ShipmentsStocker and feeder.Total.Xl.-FOODSTUFF MOVEMENT.Data /rom Government sources.(Table 16a, p. 32, and Table 16b, p. 33.)Exports:Meat productsPork.Beef.Dairy products.Vegetable oils.Cold-storage holdings :Creamery butter.Case eggs.American cheese.Beef products.Pork products.Lamb and mutton.Apples.Xll.-8UGAR, MILK, AND TOBACCO.Data from Government sources.(Table 17a, p. 34, and Table 17b. p. 35.)Imports of raw sugar.Condensed and evaporated milks (case goods):Production.Manuf turers' stocks.Unsold stocks.Unfilled orders.Exports.Imports.Tobacco production :Large cigars.Small cigarettes.X111.-BUU.DING STATISTICS.Data from comnurcial and trade sources.(Tables !Sa, p . 36, and 18b, p. 37; Tables 19a, p. 38,and 19b, P· 39.)Buildings-Business, industrial, residential, educational, hospitals and institutions, public, publicworks and public utilities, social and recreational,reli P.otis and memorial :Number of projects.Square feet.Value.Grand total.1Iron and steel:Expoqs.Imports.Copper-Exports (pigs. ingots, etc.).Tin-Imports (bars, blocks, etc.).Zinc-Imports (ore, blocks, pigs, and dust).Data from commercial and trade sources.XVI.-TEXTILE ontinued.Data from commercial and trade sources-continued.Total knit underwear-Continued.Production reportNumber mills.Normal production.Actual production.Raw silk:Storar.e at end of month.Consumption.XVII.-ACTIVE TEXTILE MACWNERY.(Table 2la, p. 42, and Table 2lb, p. 43.)Pig-iron produc-tion.Steel ingot production.Unfilled orders.Copper production.United States stocks of tin.United States production of zinc.United States stocks of zinc.XV.-FUEL AND POWER.Data/rom Government sources.Data /rom Government sources.(Table 25a, p. 50, and Table 25b. p. ow.Carpet.(Table 22a. p. 44, and Table 22b, p. 45.)Coal production:Bituminous.Anthracite.Beehive.Crude ectric power production:Public utility plants.XVI.-TEXTILES.Data/rom Government sources.(Table 23a, p. 46, and Table 23b, p. 47.)Wool:Consumption.Commercial quarterly stocks.United States Government quarterly stocks.Imports, unmanufactured.Raw silk-Imports.Cotton:Consumed.On handIn mills.In warehouses.Data /rom commercial and trade sources.(Table 24a, p. 48, and Table 24b, p. 49.)Total knit W}derwear:Per cent normal production of reporting miltsNew orders received.Shipments.Cancellations.Unfilled orders end of month.Actual production.Order and shipment reportNumber mills.Normal production.New orders received.Shipments.Cancellations.Unfilled orders.XVW.-PAPER AND RUBBER.Data /romGO'ller mentsources.(l'able 26a, p, 52, and Table 26b, p. 53.)N ews-pr nt paper:Production.Shipments.Stocks.All other paper:Production.Shipments.Stocks.Wood pulp:Production.Stocks.India rubber-Imports.XIX.--AUTOMOBILE TIRES AND TUBES.DaJ.a /rom commercial and trade sources.(Table 27a and Table 27b, p. 54.)Tires-Pneumatic, solid:Production.Stocks.Shipment, domestic.Inner tubes:Production.Stocks.Shipment, domestic.Raw material:Fabrics.Crude rubber.XX.-LEATHER PRODUCTS.Data from commercial and trade 1ources.(Table 28a and 28b, p. 55.)Production:Sole leather.Skivers.Oak and union harness.