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This PDF is a selection from an out-of-print volume from the National Bureauof Economic Research
Volume Title: A Study of Moneyflows in the United States
Volume Author/Editor: Morris A. Copeland
Volume Publisher: NBER
Volume ISBN: 0-87014-053-1
Volume URL: http://www.nber.org/books/cope52-1
Publication Date: 1952
Chapter Title: Appendix A: On Sources and Methods
Chapter Author: Morris A. Copeland
Chapter URL: http://www.nber.org/chapters/c0841
Chapter pages in book: (p. 349 - 560)
Appendix A
ON SOURCES AND METHODS
Catalogue Number Page
Section 1 A5An Zxplanation in General Terms
Section 2The. Seaple Worksheets
i Group I Househo3iia Al?
Ordinary Receipts HR 101-3, 111.13Ordinary pendituree HR 201—3, 211-14Loenfunds and Valuation HR 301-2, 311AdJuant
ii Group II Faims . A34
Ordinary Receipts AG 101Ordinary Rxpenditures AG 201—2Ioanttmda . AL) 301
iii Group III . .A38
Industrial Corporations
Ordinary Receipts IC 101-2Ordinaiy Expenditures tO 201-3, 21.1-15,
221-25, 231Loanfunda and Valuation IC 301-61d3nant
A2
Catalogue Number Page
Sectón 2 (Continued)
iv Group IV Business Propri- A60etors end Partnerships et a3.
Ordinary Receipts PP 101—2, 111—15Ordinary Expenditures PP 201-3, 211—16Ianfund and Valuation PP 301—2, 311—13Adjustment
v Group VI State and A8].Local Governments
Ordinary Receipts LG 1O1..4, 111—19Ordinary Expenditures . LG 201—5Loanf'unds Ifl 301
Group VII Banks end A100U. S. Monetary Funds
Ordinary Receipts BK 101—2Ordinary Expenditures BK 201-3toanfunds and Valuation BK 301-3Adjustment
vii Group VIII LifeInsurance Companies
Ordinary Receipts LI 101—2Ordinary Expenditures LI 201-2., 211Loanfunda and 9aluation LI 301'Adjustment
viii, Group ]X OtherInsurance Carriers
Ordinary 'Receipts 01 101—2Ordinary Expenditures 01 201—3, 213.Loanfunda and Valuation 01 301-304Adjustment
13
Cata1ogie Number Page
Section 2 (Concluded)
ix Group X Security and 1124Realty Firms et al
Ordinary Receipts SR 101-3, 111Ordinary Expenditures SB. 201-4, 211-12,
221Loan.ftmds and Valuation SR 301-4Adjustment
x GroupXl The Rest 1139of the World
Ordinary Receipts mi 101—2Ordinary Expenditures 1 201—2loanfunds RW 301—2'
xi Identifying the Wney— 1145flows that Reflect GNPExpenditures and OtherTransactions
Groups I - IV GNP 101—9Groups V - GNP 111-19Groups' I - XI GNP 121-23
xii &nalyzing Bank BL 101-4 1161Credit by Obligoi-s
Section 3Some of the re Involved Est1inatlngProcedures for 1939
'
i Payrolls and operating revenues 1165of manufacturing enterprises
ii Payrolls and operating revenues 1169of wholesale firms
A4
Page
Section 3 (Concluded)
iii Payrolls and operating revenues Al73of retail firms
iv Payrolls and operating revenues A176of six service groups
v Payrolls of construction contractors Al79
vi Property taxes and noncorporate Al80commercial mortgages
vii Federal excise and miscellaneous taxes A184
viii Real estate transfers and instalments Al86to contractors a/c new residentialconstruction
ix Other instalments to contractors A19.O
x Private carrier insurance premiums 1196and benefits
xi Household portfolios A199
xii Gross transfer rece.pts and 1203expenditures
Section 4For the Convenience of Those Who DelveintoAppendices
i. A List of the Principal Sources A205
ii A Glossary of Abbreviations A208
SeOtiofl 3.
Anin Gen6I'- Te1'fl$
1L5
A6 -
The figures in the text tables are Of tlrJO types, original or
prinazy entries and postings or secondary entries. By a
secondary entry Is meant one for which the source (as given
• in the source column or in a footnote) is another text table.
Other entries are primary entries. 'bst of the lines in the
eleven sector statements of payments and 'balances,, in the
synopsis of GNP expenditures and other moneyflowe (Table 33),
and 'in the analysis of bank credit (Table 41) carry original
entries, !4,st of the figures in the seventeen national. ao—
óount tables and in Tables 1, 2, 3, 17, 30, 39, and 42 are
secondary entries.
Each national, account is a recapitulation made by select-
ing the appropriate debit item and the appropriate credit
jtem from each statement of payments and balances. In these
national accounts the source co3umn gives for each entry' the
• text table and line on which the primary entry is recorded.
When, as in Table 42, a secondary entry is a simple computa-
tion from two or more original entries, the sources a nd
methods of computation are indicated in the text, in a foot-..
note, or in the source column •
For a few primary entries the sources and methods are
given immediately in footnotes to the' text tableà. But In•
• most instances, the' source reference for a primary entry
specifies a line on one of the following pages. .ccept for
A?jt pertaining to the Federal government, such source ref-
erences are to pages in Section 2 of this Appendix. Sources
and methods for Federal government items -were explained in
Technical 'Paper .. For the reader's convenience nineteen
pages from the appendix to that paper are reprinted here as
Appendix B.: -
st source references are giveni.n symbolic form. Each
symbolic reference consists of a catalogue number identify—
lug the table or page on'which the source is to be found
plus a letter identifying the line. These symbolic refer—
énces are of three types:
1 Secondary entry source references to other text tables.The catalogue number in each such case is cB followed by aroman numeral (indicating that the reference is to a state—meñt of payments and balances end giving the number of the
transactor group) fofloved by a letter showlng the line onthis statement). For 'example, P&B I A means line A of thehouseholds statement.
2 Primary entry, source reference's to Section 2 of this Ap-pendix (catalogue numbers KR 101 through BL 104). Thus thesource reference for line C of Table 18 is RH 101 G, i.e.,line' G, on the page carryitig catalogue number RH 101. Tha
.serial number of each 'such page can readily be found by re-ferring to the Contents for thIs Appendix.
3' Primary entry source references to Appendix B (cat a—logue numbers 10]. through 105). The statement of paymentsand balances for the Federal government is derived by con-solidating five separate statements, aie averirig the gene'r alfund operations, three covering social insurance funds, andone miscellaneous Federal' 'funds, Tables 101 through 105.Thus the referenoe for 'Federal payroll expenditures in Table19 is 101 P + Q, i.e., Table 101 in.Appendix B, line P +lineQ. ,
/Concerniug a Federal Financial Statement. M,rris A.Copeland, , National Bureau of Economic Research, December1947. ' -
£8
'To indicate 'the sources and methods 'of estimate the
pages in Section 2 and fourteen of the pages in Appendix B
have been cast in the form' of illustrative worksheets. These
worksheets too carry a source column. Some entries in this
column are to other publications, some to other sample work-
sheets, and some to Section 3 of this Appendix. References
to other publications are frequently to secondary materials,
e.g., the Statistical Abstract. Since one objective'ot this
exploratory study was to tie moneyflows estimates to standard
series when possible, it did not seem especially advantageous
to attempt to go to original sources; in any case, such doe-.
umentation would not have been feasible within the limits of
this study.
References in Section 2 to other sample worksheets in
that section oonforn to the pattern already explained, a
catalogue number followed by a letter indicating the line on
the sheet. A similar pattern,is followed in references to
Appendix B. The sample worksheets in Appendix B are numbered
A-i, A—2, etc. through E-6. References to these sheets in
Section 2 read App. B, Worksheet A—l; App. B, Worksheet F.-6;
etc. References to Section 3,of this Appendix simply give
the sUbsection number, e.g., App. 13 vi.
On each sample worksheet in Section 2 the method of eo*-
patation and the sources of the basic data are :she fbi. a
A9
sample year for each moneyflow item. tanfund computations
are shown for two successive year—ends. Computations and
sources are shown on the worksheets in all cases for 1939,
and in certain cases for 1938 or 1940 also. The rules fol-
lowed in presenting sample—year calculations are:
Most money-flow figures are shown only for 1939. For therest of the world moneyflow figures are shown also for 1940in order, to relate the new and old Department of Commerbebalance of paiments computations to the moneyflows accountfor this sector.
For all transactor groups most year—end figures as ofJune 30 and as of December 31 are shown for both 1938 and1939. For the rest of the world December 31 figures areshown also for 1940. lii Section 2 xii, Analyzing Bank Creditby Obligor, December 31 figures are shown only for 1939.
Where the derivation is relatively- simple, e.g., f or
households gross cash pay expenditures (HH 201 A at seq.),
the entire derivation for the sample year (or two dates) will
be found on the page indicated in the source column of the
te,ct table. In some oases, e.g., the corresponding item for
business proprietors and partnerships et al, PP 201 A, the
derivation is sufficiently complex to call for supporting
worksheets. In Appendix B there are supporting sample work-
sheets for each of the five main tables,
Although an attempt was made to use regularly published
series so far as feasible, it was very often necessaiy to
make an independent estimate of an item or a component of an
item. Where sufficient basic data were available the method
of estimate ordinarily adopted was the method of variable
weight ratios. Vs may outline this method as foUowB: Let Xi
be the attribute of a universe to be determined, and yj the
corresponding attribute of a sample, the subscript mdi..
eating the year. Let Xr) be another attribute of the universe.
and x the corresponding attribute of the sample. Where
and x11, are aiown for the various values of v, Y is de—L1)
termined by the formula T 7. . The variable weight1)ratio is —'i. In estimating the interest received by non-.Xjinsured commercial banks, the (variable weight) ratio of
loans and securities held by noninaured commercial banks to
loans and securities held by insured connnercial banks was
applied to the interest received by the insured banks. See
BK 10]. B through F. -
The information available was often insufficient to per-.
mit use of a variable weight ratio. The alternative method
moat commonly employed follows the aggregative index number
pattern. For each item estimated on this pattern an indica-
tor series was first selected: a.sample series, a series
that covers most of the items except for minor omissions, a
total to be allocated between other tranaactors and the
transactor group to which the item applies, or some other
series believed to indicate the year—to—year movements in
the item to be estimated. The item was next estimated for
one year. On the basis of this estimate and the value of
All
the indicator series for the year, a constant weight ratio
was then determined. Finally, each year of the indicator
series was multiplied by this weight ratio to give the annual
estimates for the item. Thua household expenditures s/c in—
stalinents to contractors for residential repairs were com-
puted a 27.2 percent of the value of this type of construc-
tion activity as estimated by the Department of Commerce.
See HH 201 14 and 0,
Where a variable weight ratio was used, separate lines
appear on the sample worksheets showing the ratio and its
derivation. Where a constant weight ratio was used, only
two lines appear on the sample worksheet for the computation
— one for the indicator àeries and one for the product of
the indicator series' by the weight ratio. Some of the con-.
'stant weight ratios applied to indicator series are explained
in footnotes on the sample worksheets. Notes explaining
the other constant weight ratios appear in Section 3 of this
Appendix,
In many instances where the constant weight ratio pro—
e're was followed, no single appropriate indicator series
was available covering all seven years on a comparable baals,
Hence, splicing was necessarily often resorted to, and some—
tixes with no satisfactory overlap year. The sample—year
computations given in the following pages therefore cannot
A12
be taken as specifying fully the sources and methods of corn..
putation for other years. However, the more important splic-
ing problems are indicated in footnotes.
While a great many items and components were estimated
by some form either of the variable or of the constant weight
ratio procedure, these. two do not cover all cases. One other
procedure may be mentioned. Several balance sheet items were
determined by estimating separately the annual increments and.
the approximate absolute magnitude of the balance as of some
one date, and then computing the balances for other dates.
One 1939 balance estimate made in this way, that for the main
component. of household portfolios, is explained briefly in
Section 3; corresponding explanations in other instances
where this method was followed are carried in footnotes on
the sample workaheet5.
Partly because of the publication, of new data and of
estimates by other workers while this inquiry was in proceSs,
most of the estimates presented here are revisions or re—
revisions of earlier ones. However, when an inquiry is con—
cerned, as this is, with setting up a complicated system of
social accounts there is an additional urge to revise and re—
revise. The definitions of the various items must articulate,
and the several methoda.of estimate must be reasonably eon—
aistent. But until a full first round of estimates has been
A13
completed, it is scarcely possible to foresee the kindsof
conflict in definition and in method that may arise, And a
second round designed to eliminate the conflicts revealed by
the fIrst may bring new ones to light. At the same time the
consistency requirement imposed by a system of social accounts
does not work unambiguously in the direction of revisions.
Changing one procedure. may carry with it the necessity for
changing others, so that one shortly acquires a vested inter-
est in a given plan Of workaheet layouts. The most glaring
conflicts and inconsistencies of earlier rounds of estimates
have been eliminated from the procedures outlined in Sections
2 and 3 and Appendix B. But minor difficulties remain. A
mere thorough going redesign of worksheet layouts than was
possible in this exploratory study would be required to get
rid of these remaining difficulties.
The estimates published by other workers while the money—
flows accounts were being developed often represented a bet-
ter Imowledge and a mere detailed use of basic sources than
were available to or feasible within the limits of this study.
An effort was made to incorporate such estimates as revisiona
or. to use them as a basis for revisions, wherever the
lug improvement was sufficient to warrant it. But it was nec-
essary to close the books to minor revisions before a final
blanket book—closing date was onforced. There are various
instances in which the substitution of estimates published by
A]4
others would have made very little difference. In a number
of cases where the difference lay within the rounding error
for 1939 and was not materially' greater in other years, the
published estimate is given as the source in the following
sample worksheets, although the slightly differing earlier
estimate has been retained in the unrounded computations from
which the text tables are drawn. There would appear to be no
serious objection to this procedure, and it substantially
simplifies the explanation of sources and methods of estimate..
In any event the sample worksheets are not to be taken as
indicating the precise lines and line arrangements of the
actual, worksheets. Numerous rearrangements have been intro-
duced to bring out more clearly the reasoning underlying the
procedures employed. Further, some -lines that must be re-
peated on operating worksheets to facilitate accurate compu-
tations have not been repeated here, while some lines not
necessary on operating worksheets have been included in Sec.,.
tion 2.
Wst of the figures on the sample worksheets are in ml].—
lions of dollars; whenever a figure is not' in millions of
dollars it is enclosed in parentheses and its denominat ion is
indicated in the stub.
A somewhat flexible rule for rounding was followed in the
text tables. To avoid obscuring the year—to—year movements
A].5
of smaller series and the imploations of a high degree of
precision in the larger series, the latter were rounded to
the nearest $100 million, and the smaller ones to the nearest
$50, $20, or $10 million.
For the reader's convenience a selected list of thesources most frequentiy cited and a glossary of the abbrevia-
tions used in the illustrative worksheets are presented in
Section 4.
No sample worksheets for the derivation of Table 37 are
included in this Appendix. In connection with thin table the
writer asks the reader's cooperation in an experiment. The
nature of this experiinent is indicated in Chapter 10, Section
3. Two questions are there posed. If material significance
attaches to estimates of technical transactions it should be
possible to answer one or both of these questions without
knowledge of the sources and methods employed is preparing
Table 37. The writer believes that the answers made without
such knowledge are likely to be a better test of the poten-
tial significance of estimates of technical transactions than
answers made with such knowledge. Md he desires to arrange
such a test. Accordingly he offers to send a statement of
sources and methods to any reader who requests the statement,
provided the request is accompanied by a reasonably conscien-
tious attempt to answer one or both of the two questions
posed in Chapter 10, Section 3.
A16
As was noted in the text, only two of the fourteen na—
tiona]. moneyflow accounts show a discrepancy. In each of the
• other twelve accounts some entry is a residual estimate, orMY
else two or more of the items represent an apportionment of
the net accounting balance of all others. -
This is one reason why the discrepancies can not properly
be taken at face value as indicating the magnitudes of errors
of estimate. But. there are other reasons too. A discrepancy
'that appears in one account might conceivably be shifted in
part or entirely to other accounts, if we had more informa-
tion. Furthermore a sn*11 discrepancy may be the net' result
of a material debit error and a largely offsetting credit' er-
ror.
For important areas of nioneyflows and loanfund our know-
• ledge is extremely sketchy and our estimates are very shaky:
household portfolios,' net owner takeouts, real estate trana-
fers, and most of the items in the statements for business
proprietors and partnerships et a]. and security and realty
firma et el. Mreover, many .items in other areas have been
estimated b extremely rough procedures either because data.
were not considered good enough to warrant anything more me-
ticulous or beoauae• the additional labor that would have been
involved was taken to be subject to sharply diminishing re-
* turns in greater precision,
• Section 2
The Sample Workoheeta
A17
Households —
Ord
inar
yR
ecei
pts
(ailhions of dollars)
RH 101
Cas
h In
tere
st'K
mt.
pd. b
y A
ll T
rans
acto
rsF
tnt,
reed; b All Transactors
'c1.
HR
0aah
tnt.
reed
, by
RH
(T
o P&
B I
C)
Net
Ow
ner
Tak
eout
sN
et o
wne
r ta
keou
ts r
ecd.
by
HR
fro
m:
HFa
rms
I'-
His
s.Pr
. &'
Pt.
at a
l3
'.S
ec.
& R
. Fir
ms
at a
].K
Tot
al n
et o
wne
r ta
keou
ta r
ecd,
by
RH
(T
o P&
B I
fl)
Rec
eipt
s fr
om C
usto
mer
s (S
ales
to S
econ
dhan
d D
eale
rs)
Sale
s of
use
d:L
Clo
thin
g/
NFurniture
& a
ntiq
ues
,,/
NMisc, articles to pawnbrokers
&jn
isc.
secondhand
deal
ers
3,/
0.C
ara/
PT
otal
rec
eipt
s fr
om d
usto
uers
(T
o F&
B I
K)
Q t,
Net
Pay
men
ts f
or R
eal E
stat
e ra
nsfe
ra(To B
I F)
Tax
Ref
unds
Ref
unds
of:
RA
ll in
cens
e ta
xes,
.P. T
.S
Eat
,individual income taxes,
C, I
.T
Estate +
gift
taxe
s,.F
. I.
UEstate + gift taxes,
C. Y
.V
Tot
altexref'unds reed, by KR, C. I. (To F&B I G)
Sour
ce R
efer
ence
HH
11IK
A
•Su
rvey
of
Cur
rent
Bus
ines
s Jy
. 194
7 Su
ppi.,
Tbl
30
Ibid
.Ib
id.
Sam
e jo
urna
l .T
e. lh
h, p
.10
Lth
ruC
Estimated,
see
foot
note
/
27B
ur. o
f In
tern
al R
even
ue,.A
nn. R
epor
t 194
0, p
. 318
Ret
, as
50%
of
2 yr
. nev
g. a
vg. o
f R
/5
Bur
.of Internal Revenue, Ann. 'Report
1940
, p. 3
62yr. nevg. avg.
ofT
24
S+U
Item
Gxu
p C
ash
Pax
AG
ross
. cas
h pa
y (e
xpd.
) of
AU
Tra
neac
tors
(T
o }H
cB I
A')
Cae
h D
ivid
ends
•
BD
iv. p
d. b
y A
U T
rans
acto
raC
-D
lv, r
eed,
by
All
Tra
nsac
tors
eo1
. HR
fl.
Gas
h di
v. r
eed,
by
RH
(To P&B I B)
45,103
6,23
72,
406
3,83
1
HH
U2Q
BH
112H
Em
inua
C.
.
.
B C D
•7,
432
HR
U3V
.S
4,75
5IW
U3J
•F
2,67
7E
min
us?
•.
'I
2,1.
14.
6,16
669].
9,27
1
I202
TPP
203
0,'3R204Q
H+
I+3
.
'
H I J K
4 18 12 102
136.
600
L N N. 0 P Q K S -I U V
i/Sal
es o
f us
ed it
ems
by h
ouse
hold
s w
ere
assu
med
t eq
ual t
heir
net
pur
chas
e ex
endt
ures
for
use
d 'it
ems
an 'e
stim
ated
by
the
Com
mer
ce D
epar
tmen
t,2J
See
App
. A 3
viii
.i/m
t was
ass
umed
' tha
t 50%
of
inco
me'
tax
refu
nds
wer
e 're
ceiv
ed b
y H
ouse
hold
s en
d 50
% b
y In
dust
I-la
]. C
orpo
ratio
ns.'
Hou
seho
lds
—O
rdin
ary
Réc
eipt
e(m
illio
ns o
f do
llars
)H
R 1
02
Oth
er S
ocia
l Ths
uren
ce B
enef
its R
ecei
ved
from
iB
Vet
eran
s' li
fe in
s. f
tmds
CO
ld a
ge in
s. &
var
ious
Civ
il Se
rvic
e re
tirem
ent f
unds
: DSt
. & L
, Gov
t4 r
etir
emen
t fun
dsSt
. & L
. Got
, .w
oikn
en'e
com
penà
atio
n (p
ublic
) fu
nds
FM
isc.
Fed
. Gov
t.. f
unds
OT
otal
oth
er lo
cial
ins.
hem
atite
(T
o I&
B I
. J)
)4at
srity
•&
dea
th,
Tot
al b
enef
its p
d. b
y L
ife
Ins.
Cos
. on
life
polic
ies
Eat
. p0.
to b
is.
IL to
HH
Cla
ims
pd. b
y fr
ater
nal b
enef
it so
ciet
ies
Acc
iden
t & h
ealth
ins.
+ m
utua
l acc
iden
t & s
ick
bene
fit a
esna
., cl
aim
s p0
.N
Ffre
& th
eft i
ns. O
n pe
rson
al p
rope
rty,
cla
ims
pd.
NA
uto
ins.
clai
iapd
.o
Pen
sIon
sre
ed, u
nder
ael
f-.a
dmin
iBte
red
pens
ion
plan
sW
oren
' icg
mpe
nsat
iónz
PB
enef
its p
0. b
y sa
mpl
e of
sto
ck c
asua
lty, s
uret
y,&
mis
c. in
s. o
oe.
Qbe
nefi
ts n
O. b
y to
tal s
tock
oaa
ualty
, sur
ety,
& ta
isO
, ins
, sos
.N
Ins.
pre
niun
s p0
. on
owne
r oc
cupi
ed n
ozd'
arm
dw
ellin
gsS
Est
. ben
efits
ree
d. b
y .H
H f
rom
fir
e &
oth
er d
wel
ling
ins.
T.
tota
l all
othe
r. in
s, b
enef
its r
ecd.
by
HR
(T
O I
&B
I K
)
Sour
ce R
efer
ence
App
. B, W
orks
heet
B—
14A
App
. B, W
orks
heet
C—
i—!
App
. B, W
orks
heet
D-2
-D +
K +
FIC
205
AL
0205
BA
pp. B
, Wor
kshe
et M
—5-
G +
LB
thru
F
Px(1
.34)
/-
-Q
Tile
s,U
. S. D
ept.
of C
nns.
, Nat
. Inc
ome
Dlv
,E
àt.a
eRx(
333%
)Z
+ K
+ L
+ M
+ N
+ 0
+ Q
+ S
AU
nazo
loyn
ent C
oane
nsat
ton
Ben
efits
(T
o .B
I H
)
All
Oth
er I
nsur
ance
Ben
efits
H I J K L
22 434 62 191
157
6B 1148
9
2,07
4 262,
Q48 142
140 14 100
153
LI2
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Bet
, as
H x
(1.
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)H
min
us I
01 2
03 N
Surv
ey o
f C
urre
nt B
usin
ess
Je. 1
944,
p. 2
3
mid
.Ib
id.
File
s, U
. S. D
ept.
of C
oms.
, Nat
. moo
ns D
iv.
90St
at. A
bstr
act 1
942,
Thl
. 351
S C S K F 0 H I K L N N 0 P
120
102 33
2,75
0
2/T
hjg
cons
tant
wei
ght,
ratio
equ
als
the
1939
rat
io o
f to
ta].
ben
efits
pai
d by
all
casu
alty
insu
ranc
e co
mpa
nies
($4
65 m
illio
n) a
s es
timat
ed o
n01
203
0 to
tede
l ben
efits
pa
tin e
anpl
. of
etoa
k'c&
aual
ty, e
et7,
and
nie
beU
ansu
s iu
aura
ice
com
pani
es (
$347
mill
ion)
as
repo
rted
in tb
eSt
atis
tical
Abs
trac
t 19h
Z, T
able
352
...
a S T
Hou
seho
lds
—O
rdin
ary
Rec
eipt
s -
i 103(m
illio
ns o
f do
llars
):
urce
Ref
eren
ce
'257
App
. B, W
orks
heet
.A—
2—K
-A
0A
pp. B
, Wor
kshe
et' A
.-4—
RB
19A
pp. B
', W
orks
heet
E—
5—P
C
7A
pp. B
, Wor
kshe
et B
-S—
UD
423
App
.,B, Worksheet A—2—P
K
23
PP2O3D
F36
RW
2O2D
079
2I2
05F
if
1,55
7A
thru
H
66,7
2
22Pu
blic
Pur
uóse
Pam
Paym
ents
ren
d, b
y R
H f
ron
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t. a/
c:Pu
blic
ass
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nce
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oodi
ty s
tam
p fu
ndFa
rm S
ecur
ity A
dm. p
ublic
ass
ista
nce
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. ser
vice
cert
ifica
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nd, m
isc.
' Fed
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nds
Vet
eran
s' p
ensi
ons
& b
onus
, gen
eral
fun
dB
us. f
. &'P
t. et
al (
cash
' rel
ief
pd.-
byprivate
char
ities
)B
of
W (
pers
onal
rem
ittan
ces)
Publ
c as
sist
ance
St..
&L
. Gov
t.T
otal
peb
lic .p
urri
sa p
aym
ents
ree
d, b
y R
H (
To
P&B
IL)
JT
otal
Ord
inar
y R
eit (
To
P&B
I H
)(HR 101A.iD+G+K+P+Q+V)+
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G+
I)
+ (
RH
103 I)
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seho
lds
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uppl
emen
tto
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nax7
Rec
eipt
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ross
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h Pa
y R
ecei
ved
(mill
ion.
of
dolla
r.)
Slim
Gro
ss C
ash
Pa (
Exu
endi
ture
e) o
f
Farm
sm
d. C
orp.
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& P
t. et
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d. G
ovt.
St.& L. Govt.
Bk..
& U
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Life
In..
Co.
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ther
Ins
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rier
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c. &
R. F
irm
a et
alK
Tot
al g
ross
cas
h pa
y re
od. b
y R
H (
To
HR
101
A)
854 7
25,224
7,81
63,948
4,16
857
71.
2823
81,068
1.5,
103
Sour
ce R
efer
ence
RH
201
CA
G 2
01 A
IC 2
01A
PP 2
01A
&pp
. B,Worksheet A—2—A +
B10
201A
BK
201
C
LI
201D
01 201 K
SR
201H
Ath
ru J
A B C D K F 0 I J
A B C K F G H I
Hou
aebo
lda
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pp1e
ntto
Ord
inar
y R
ecei
pt.
RN
112
Caa
hD
ivid
ends
Rec
eive
d(m
illio
naof dollar.)
Source
Ref
eren
ceC
ash
Dividends Received by:
Alad. Corp.
967
IC101 A
A
BBus. Pr. & Pt. et al
58
PP
101 N
B
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s-
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01-
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Other
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rier
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K
FSe
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w e
t .1
l,0SR
101
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ofW
180
RW
1O1C
0
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cash
dlv
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d. b
y A
ll T
rane
acto
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406.
A th
ru 0
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exci
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im
i(T
oH
Rlo
lp)
3,83
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I
3T
otal
cash
dlv
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y A
ll T
rans
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rs6,
23?
H +
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Cash Dividends Paid by:
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p4,
290
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236
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LI
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ther
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al
1,25
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PR
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313
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QT
otal
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h di
v. p
d.by
All
Tra
nsac
tors
6,23?
K th
ru P
Q
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seho
lds
—S
uppl
emen
tto
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inar
y R
ecei
pts
Cas
h In
tere
st R
ecei
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(mill
ions
of dollars)
HR
113
Cash Interest
Rec
eive
d bv
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d. C
orp.
BB
us.P
r.&
Pt.o
tai
CFed. Govt.
D.
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a. &
U. S
. ?bn
. Fun
dsP
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e In
s. .C
os,
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ther
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rier
sH
Sec.
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IRofW
3T
otal
cas
h m
t. ro
od, b
y A
ll T
rane
acto
raex
el.RH
ffl
(To
HR
101
0)
LT
otal
cas
h m
t. re
cd. b
y A
ll T
ranà
acto
z.s
Css
h In
tere
st P
aid'
:
IC 1
01 B
PP 1
01 N
App
. B, W
orks
heet
s (E
.-2—
R)
+(C
—i—
H)
LO
10 K
BK
101
TL
I].O
1D01
102
LSR
101
KR
U 1
01 F
RH Fari
nated.
Cor
p.T
his.
Pr.
& P
t. at
al
Fed.
Gov
t.
NSt
. & L
. Gov
t.S
Bks
. & U
. S. W
in.Funda
VSe
c. &
H. F
irns
etal
UR
ofW
VT
otal
cas
h m
t. pd
. by
All
Tra
nsac
tore
1,32
453
21,
780
318
1,04
7
552
445
1,276
158
7,43
2
HH
2O1D
AG
201
DIC
201
HPP
201
FA
pp. B
, Wor
kshe
ets
(A—
2—C
) +
(E-.
3—J)
min
us (
B-.
l—A
+C
—l—
K+
D—
1—F
+ E
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.G 2
01 D
BK
201
HSR
202
BR
U 2
01 0
14 th
ru U
H N 0 P Q R S £ U V
-S
ourc
eR
efer
ence
31.2 57 43 136
1,70
698
022
786
3 31
14 N 0 P Q
4,75
5A
thru
l
2,677
V minus J
7,43
2
A B C D E F G H I J K
J+K
L
a,.
M
Hou
seho
lds
-O
rdin
ary
Exp
endi
zree
(mill
ions
of
dolla
rs)
HE
201
•Gpo
a C
ash
Pay
HH
pay
(ch
ief]
.y to
dom
estic
ser
vant
s)Fo
od f
urni
shed
Tot
al g
ross
cas
h pa
y (T
o P&
B 1
Q)
Cas
h In
tsre
st (
To
1B I
R)
K G
ross
Ren
ts (
To
IB 1
s)
Fap
ent'H
Has
Cus
tom
era(
Top
&B
IT)
M V
alue
of
priv
ate
res.
rep
air
activ
ity
0E
rt. i
nsta
lmen
ts to
con
trac
tors
a/c
repa
irs
tree
NH
1,04
018
6.8
541,
324
3,89
8
51,2
40
2,40
7
130
2,53
71,
221
1,31
679
0
917
249
1,03
9
Sour
ce R
efer
anca
Surv
ey o
fCurrent
Bus
ines
s Je
.1945,
p. 1
9Fi
les,
U. 5
, Dep
t. of
Com
m.,-
Nat
. Inc
ome
Div
.A
min
uá B
HR
2].]
. U
Con
str.
Aèt
ivity
in th
e U
. .5.
, Spe
cial
Rel
ease
May
194
4, U
. .S.
Dep
t. of
Com
m.
Ibid
.G
+E
,SR
211
QIm
lrius
JR
et, a
s K
x(6
C)
1/
Coc
atr.
Act
ivity
in th
e U
. S.,
Spec
ial R
elea
seM
ay 1
914,
U. S
. Dep
t. of
Com
m.
Eat
, asMx (27,2)
11
L+O
A B C D K F a
A B C D
Inst
alm
ents
to C
ontr
acto
ra-
Val
ueof
new
pri
vate
res
. con
atr.
act
ivity
:G
Non
fars
HFa
rm—
IT
otal
new
pri
vate
res
, con
str.
act
ivity
JN
ew c
onst
r. o
f te
nant
occ
upie
d dw
ellin
gs-
KN
ew c
onst
y. o
f ow
ner
occu
pied
dw
ellin
gsL
Eat
, ins
talm
ents
to c
ontr
acto
rs f
rom
RH
a/c
owner
Occ
upie
d co
nstr
.
Surv
ey o
fCurrent
Bui
nea
Jy. 1
947
Supp
l., T
hl. 3
0H
R23
J,.R
PT
otal
inst
alm
ents
to c
ontr
acto
rs f
rom
HR
(T
o F&
B I
U)
1/T
his
wei
ght r
atio
is th
e ra
tio o
f es
tiinn
ted
inst
alm
ents
to c
ontr
acto
rs b
ased
on
adju
sted
193
9 C
ensu
s of
Con
stru
ctio
n da
ta to
the
1939
estim
ates
of
Con
stru
ctio
n pc
tivity
in th
e U
nite
d St
atea
(Sp
ecia
l Rel
ease
, May
194
4), U
. S. D
epar
tsne
nt o
f C
omm
arce
.Fo
r th
e w
eigh
t rat
ios
see
App
. A 3
ix.
Rev
ised
Coi
mse
rce
Dep
artm
ent e
stim
ates
of
cons
truc
tion
activ
ity b
ecan
e av
aila
ble
too
late
for
incl
usio
n In
this
8tu
dy.
if -I J-K
L If 0 P
Hou
seho
ld. —
Ord
Inar
y E
pend
iture
s(m
illio
nsof
dollar.
exce
pt fo
rfi
gure
. In
pare
nthe
ses)
HR
2
Tax
es C
olle
cted
Indi
vidu
al in
com
e ta
xes
pd. t
o Fe
d. G
ovt.
/In
divi
dual
Inco
me
& r
elat
ed ta
xes
pd. t
o bc
.govt. J/
Tax
eson employees under
soci
ai in
s. p
rogr
ams
Customs (mail +
bagg
age
+in
form
alen
trie
s))t
or v
ehic
letaxeaz
-
All
pass
enge
r ca
rs r
egis
tere
d (
cars
)N
o.of autos on farms(c
ars)
Non
farm
pas
seng
er c
ars
(Moa
rs)
Avg
.tax per
nont
arm
vehicle (1
per
car)
Eat, motor vehicle license tax pd. on
nonfarm, passenger cars
Eat. motor vehile license tax pd. on
nonfarm, passenger cars by NH
Poll Tsi
KSt
atep
ollta
xL
Ice.
gov
t.po
ll& misc. taxes in 94 large
citie
sH
Rat
io "
othe
r ta
xes"
, all
bc.govt. to 94 large cities
NLoo.
govt
. p01
1 &
mis
c, ta
xes
0Total
poll
& m
isc.
taxe
sN
onbu
s. li
cens
e &
per
mit
taxe
s (e
xel.
mot
orve
hicl
es)
colle
cted
by:
P94
larg
eci
ties
QAll
be. g
ovt.
RState
govt
.S
Tot
al n
onbu
e. li
cens
e &
per
mit
taxe
s
Sour
ce R
efer
ence
Aut
o Fa
ct. &
Fig
ure.
194
3, p
.48
AG
101
IH
min
us F
10116R
-
Hat
.as
O x
H
Eet
.asl
x(90
%)
Financial
Stat
, of
Stat
es 1
939,
Thl
.4
Financial
Stat
, of
Citi
es 1
939,
Tbl
. 5 (
mci
.a
part
of
allother
taxes; see
p. 5
2)1.
127
VLxM
K+N
Fina
ncia
l Sta
t, of
Cities
1939
, Tbl
. 2H
IPYlnancial
Stat
, ofStates
1939
, Tbl
. 4Q+R
-
1,23
729
636
5 5
App
. B,
LG
l1lX
IG11
4RIG
115F
Worksheet
A—i—B
A-B C D H F 0 H
-I
26.2)
2.0)
24.2)
9.82
)238
21-4 5 3
1.78) 5
10 5 92130
TProperty
taxe
s &
spe
cial
ass
essm
ents
pd. by HR
VTotal
Fed.
& b
c. g
ovt.
fees
, fin
es &
pen
altie
s co
llect
edW
Ret
,fees, fines & penalties
pd. b
y H
EI
Tot
al ta
xes
pd. b
y H
R (
To
P&B I
V)
i/Includes individual income, inheritance, and estate taxes.
K L H N 0 P Q R S V V I
978
1.0-
113K
67
10119K
22
Eat
.as V x (33.3%)
3,157
A+B+C+D+J+0+S+T+W
Households —
Ord
inar
ype
oditu
res
(millions
ofdollars)
RH 203
3,49
8 43 117
3,33
818
8 8278
282
103
14 94 70
4,33
9
980 30 950
144
,124
66,9
75
Sou,
rce
Ref
eren
ce.
OI1
O1P
01
102
BSu
rvey
ofCurrent Business
Je.
1944, p.
12m
id.
Files, U. S. Dept.
ofComm., Nat. Income
Div
.App.
B, W
orks
heet
E-.
3—T
App
. B, W
orks
heet
s (C
—i—
p) 1
+(D
-.1—
.T)
IC 1
03 B
0121
10
(D th
ruL
) m
inus
fi
Surv
ey o
fCurrent
Bus
ines
s 3.
. 194
4,p.
12IC
104
DO
min
usP
NH
102
B
P+Q+R.
-
(HH
201C
+D
+E
+F+
P)+
(H
H2o
2x)
+(H
n2o3
N+
s)
A B C F 0 H I J K fl N 0 P Q K S T
rn2
LI1
02G
Ax
(l.25
)L
x20
1Q
Am
Ann
a (B
+ C
)
Insu
ranc
e Pr
emi'.
aL
ife
Ins.
Coo
.:A
Tot
al p
rem
ium
s re
cd.
BE
st.piemiums
pd. b
y bu
s.C
Div
.to
polic
yhol
ders
•Est. premiums
pd. b
y R
HK
Eat
. pre
miu
ms
pd. b
y R
H to
fra
tern
al b
enef
it so
ciet
ies
Fnp
1oye
e co
ntri
butio
ns to
sel
f—ad
min
iste
red
pens
ion
plan
eG
Prem
ium
s pd
. by
HR
for
aut
o, f
ire
& th
eft i
ns..
HA
ccid
ent &
hea
lth +
mut
ual a
ccid
ent &
hea
lth in
s. p
mm
itmia
IPr
emiu
ms
od. o
nowner
occu
pied
mon
farm
dwellings
3Pr
emiu
ms
& f
eeap
d. to
Fed
. Hou
sing
Adm
.K
nplo
yee
cont
ribu
tions
into
U. S
. Gov
t. lif
e in
s, f
unds
&va
riou
s re
tirem
ent f
unds
LB
uplo
yee
cont
ribu
tions
into
St.
& L
. Gov
t. re
tirem
ent f
unds
)Div. to policyholders, Other
Ins.
Car
rier
sN
Tot
al in
s, p
rem
ium
s pd
. by
RH
exc
l. dl
v. to
pol
icyh
olde
rs(T
oP&B
1W)
Publ
ic P
ui-o
ope
Paym
enti
.-.
0T
otal
gif
ts &
beq
uest
s by
NH
PG
ifts
& b
eque
sts
by H
R to
gov
t. un
its (
To.
P&
B I
Z)
QG
ifts
& b
eque
sts
to p
riva
te a
genc
ies
& in
attu
tions
(To
P8.9
IX
)K
Pers
onal
rem
ittan
ces
abro
ad (
To
P&B
I t)
-ST
otal
pub
lic p
urpo
se p
aym
ents
by
NH
TT
otal
Ord
insr
v E
xoen
ditu
ree
(To
P&B
I a
)
Cas
h T
hter
ó.t
£L
it. I
fs. C
oe. p
rem
ila n
otes
&lo
ans,
Dee
. 31
Loa
ns f
rem
fra
tern
al b
enef
it so
ciet
leas
BT
otal
ass
ets
of f
rate
rnal
ben
efit
.ooi
eti.s
, Dec
. 31
CE
at, l
oans
to m
embe
r., D
.c. 3
13e
lf-*
L..4
niR
tere
d pó
nsio
n pi
snas
BE
at.loans & mv., Dec.
31I
Eat
, loa
ns to
aem
ber.
, Dec
. 31
P0,
t. lif
e in
s.fsmd (policy
& a
d3. s
ervi
cece
rtif
icat
e lo
an.)
, Dec
. 31
0T
otal
ins,
policy
loan
s, D
ec. 3
1H
Tot
al in
s, p
olic
y lo
ans,
3..
30E
at. t
nt. r
ate
on in
s, p
olic
yloanss
IFa
i atg
. deb
t, D
ee, 3
1S
mt.
pd. o
n fa
rm m
tg d
ebt
IIn
t.rite
onfa
rmm
tg.d
.bt(
%)
Lm
t. ra
te o
n in
s, p
olic
y lo
ans
(adj
.)s
K x
193
8 ra
tio,
tnt.
rate
on
polic
y lo
ans
to tn
t. ra
te o
nfa
rm m
tg. d
ebt (
5).
Eat
.tn
t. pd
, on
ins,
loan
sI
let c
usto
.era
' deb
it ba
lanc
e. w
ith b
roke
rs &
dea
lers
, Dee
. 31
0le
t en.
toca
ra' d
ebit
bala
nces
with
bro
kers
& d
eale
r., .
7.. 3
0P
Loa
ns f
rom
oth
er th
an b
roke
rs &
dea
lers
for
porc
hsei
ng o
r ca
rryi
ng s
ec.
QG
oem
.lo
anra
t., 1
9 ci
ties,
ann
. avg
. (5)
1E
at. t
nt. p
4.on
cust
omer
s' d
ebit
bala
nce.
&lo
ans
frcs
oth
er th
an b
roke
rs &
dea
lers
S)l
tg. l
iSt.
on o
wne
r oo
auni
ed n
onfa
rm d
wel
lings
TE
at. t
nt. o
n pe
rson
al d
ebt
UT
otal
cas
h tn
t.pd. by
HH
(T
o E
120
1 D
)
2i/p
rem
ium
not
e., a
ndloan.,
Lif
e In
s. C
o..
3.. 3
0, 1
938
mt.
reed
, on
polic
yloans
& n
otes
, C. Y
., 19
38m
t. ra
te o
n po
licy
loin
. 193
8 (5
)m
t.rit
e on
fare
mtg
. deb
t 193
8 (5
)19
38ra
tio, t
nt. r
ate
on p
olic
yloans
totn
t. ra
te o
n fa
rmmtg. debt
Sour
ce R
efer
ence
199
HxL
991
906
Fed.
Rae
. Bul
l. M
ay 1
946,
p. 5
14988
949
2 yr
.novg. avg. of N
851
191.
302Q
(2.7
8)Fe
d. R
.e. B
ull.
Oct
. 194
6, p
. 116
7Q
Qx(
0+P
).1
File
., U
. S. D
ept.
of C
oma.
, Nat
. Tho
cme
Div
.Su
rvey
of
Cur
rent
Bus
ines
s 3.
. 194
4, p
. 10
1+1+
3+ T
____
____
____
____
__2
yr. n
ovg.
avg
. of
line
ASp
ecta
tor
Lif
e In
s. V
ol. 1
939,
p. 1
36 £
Sam
e pr
oced
ure
as o
n lin
e K
Hou
seho
lds
—S
uppl
emen
tto
Ord
inar
y E
xpen
ditu
res
Cas
h 7t
.ree
t 711
4(m
illio
ns o
f do
llars
exc
ept f
or f
igur
es in
par
enth
eses
)W
21l
3,396
3,254
Stat
. Aba
trac
t 194
1, m
l. 34
0 (&
194
0)
1,131.
1,199
5760
980
1,01
810
ID15
0152
Idem
, ml.
34.4
1st,
as B
x (
5%)
0110
20E
at,as.D x
(1%
)A
pp. B
, Wor
kshe
et C
—l-
D +
I
3,61
33,
476
A+
C+
I+P
3,60
53,
545
2 yr
. nov
g. a
vg. o
f 0
6,77
96,
586
305
C4.
56C
5.61
Agr
. Sta
t. 19
44, m
l. 57
5Id
ea, T
hl. 8
J 4.
by
2 yr
. 'no
vg. a
vg. o
f I
Ix (
1.23
)
A I C B I a H I K L 'I I 0 P
633
444
1,32
43,
401
195
(5.7
3C
4.66
C 1
.23)
B I U
AFood & tobacoo
2/B
Clothing, accessories
& je
wel
rya/
CPersor*l care
I)
Housing (transient hotels & tourist cabins +
club
s,schools & Institutions)
HHR ouster expd.
onfood,
clot
hing
, hou
sing
, etc
.
Spe
ntfor RH operation:
Con
sum
er e
xpd.
for
:Durable
good
s//
Fue
lexol.
gas& ice
iurc
hase
dElectricity
& g
asN
ondu
rabl
egoods &
serv
ices
(ex
cl.
Maj
or it
ems
ofHR equipuent/
Oth
erdu
rabl
e go
ods
Households -
8upp
lent
to O
rdin
ary
Exp
endi
ture
sSp
ent b
y H
ouse
hold
s as
Cus
tom
ers
(mill
ions
ofdollars)
19,4
978,
277
1,00
422
3
29,001
8,33
4
Sour
ce R
efer
ence
Thi
dIb
id.
Ibid
.F
min
us (
0 +
H +
I)
Surv
ey o
f C
wi'e
nt S
ualn
ess
0 m
inus
E
as K
x(5
0%)
as H
x(2
0%)
as I
x (5%)
as
L x
(16.
7%)
as J
x(5
%)
MthruQ
-
HR
2]2
A B C D H I 0 P Q a S
Spen
t for
pur
chas
es o
f
RH
ope
ratio
n ex
pd. b
efor
e de
duct
ion
of O
xpd.
by
land
lord
s /
• Su
rvey
of
Cur
rent
Sus
lnea
s Jy
.19
47 S
uppl
., m
l. 30
Ibid
.Ib
id.
Ibid
.
Ath
ruD
Surv
eyof Current
Bui
nesa
3y,
1947
Supp
i.,Tbl
3Ô
fuel & utilities)
Landlord purchases for:
KM
ajor
Ite
ms
ofHR equipusnt
NFu
el0
Ele
ctri
city
& g
asP
Oth
er d
urab
le g
oods
QN
ondu
rabl
e go
ods
& s
ervi
ces
HT
otal
land
lord
pur
chas
es
3,76
21,
288
1,393
1,591-
792
2,970
396
Eat
.25
8Eat.
70Eat.
£95
Eat
,95
Eat
.
Jy. 1
947
Supp
i., T
hl. 3
0
0 H I L
1,314
SH
R c
usto
mer
exp
d. f
or H
R o
pera
tion
7,C
0P
min
us R
-
2/E
xclu
desvalue of food
furn
ishe
d go
vern
men
t (In
clud
ing
mili
tary
) an
d co
8sne
roia
l em
ploy
ees,
foo
d w
ithdr
awn
by n
onfa
rn p
ropr
ieto
rs, a
nd f
bod
prod
uced
and
consumed
on f
arm
s.2j
Exc
lude
a ex
pend
iture
s fo
r st
anda
rd c
loth
ing
issu
ed to
mili
tary
per
sonn
el.
1/E
xclu
des
valu
e of
fue
l pro
duce
d an
d co
nsum
ed o
n fa
rms,
and
exp
endi
ture
s fo
r do
mes
tic s
erva
nts,
and
for
fir
e an
d th
eft i
nsur
ance
on
pers
onal
prop
erty
./I
nc1u
des
expe
nditu
res
for
furn
iture
, flo
or c
over
ings
, ref
rige
rato
rs, w
ashi
ng a
nd s
ewin
g m
achi
nes,
miscellaneous
elec
tric
alappliances
exce
ptra
dios
, coo
king
and
por
tabl
e he
atin
g eq
uipu
ent,
chin
a, g
lass
war
e, e
tc.,
dura
ble
hous
efur
nish
inga
, n.e
.c.,
sem
idur
able
hou
aefu
niis
kiin
gs, n
.e.o
,,an
d ne
t pur
chas
esfrom secondhand
furn
iture
and
ant
ique
dea
lers
.-
/Inc1
udes
expe
nditu
res
for
refr
iger
ator
s, w
ashi
ng a
nd s
ewin
g m
achi
nes,
and cooking and portable
heat
ing
equi
peen
t, an
d on
e—ha
lf o
f ex
pend
j—.
ture
s fo
r fl
oor
cove
ring
s.-
Kou
sebo
lds
-S
uppl
emen
tto
Ord
inar
y bc
pend
iture
aS
pent
by H
ouse
hold
s as
Cus
tom
ers
(mill
ions
of
dolla
rs)
HR
213
3,38
639
].
232
Spe
ntby
HH
as
Customers
(Con
t.)A
Med
Iôal
car
e &
dea
th e
xpen
ses,
tota
lB
flos
p. &
san
itari
ums
(gov
t. &
pri
vate
pay
men
ts b
y pa
tient
s)M
inus
non
cust
omer
exp
d.:
-
COper.
exp.
of
priv
atel
y co
ntro
lled
hosp
. &sa
nita
rium
sD
Acc
iden
t & h
ealth
ins.
S!4iinal accident & sick benefit assn. ins.
FPractical nurses
&midwives (mc].. value of food furnished) /
0Pr
ivat
e du
ty tr
aine
d nu
rses
(m
d. v
alue
of food furnished)
HE
st. v
alue
of
food
fur
nish
edI
Cus
tom
er e
xpd.
by
RH
for
med
ical
car
e &
dea
th e
xpen
ses
JPe
rson
al b
us, e
xpen
ses,
tota
l3,
725
KL
abor
uni
on d
ues
& f
ees
169
Min
usnoncustomer
expd
.:L
Im
t. on
personal
debt
NSe
rvic
es f
urni
shed
with
out p
aym
ent b
y fi
nanc
ial.
inte
rmed
iari
esN
Expense
ofhandling life
ins.
0N
et p
aym
ents
to la
bor
unio
nsP
RH
cus
tom
er e
xpd.
for
per
sona
l bus
.Q
Tra
nap.
expe
nses
, tot
al6,
250
RParking
met
er e
xpd.
Sj4inua auto
ins.
TCustomer
expd
. by
HR
for
transp,
paid
to p
ract
ical
nur
ses
end
mid
wiv
es is
Inc
lude
d in
gro
ss c
ash
pay.
Sour
ce R
eter
enp
Surv
ey o
f C
urre
nt B
usin
ess
Jy.
1947 Suppl.,
Tbl
. 30
Same journal J.. 1944,
p. 1
2
Same
jour
nal J
y. 1
947
Supp
l., T
b]..
30Ib
id.
Ibid
.Ib
id.
Ibid
.E
at, a
s C
x (
].cy
)(A
+8)
min
us (
C th
ru F
+ H
)Su
rvey
ofCurrent Business
Jy. 1
947
Supp
l., T
b]..
30
Seine
jour
nal J
e. 1
94.4
, p. 1
2
Sam
e jo
urna
l Jy.
194
7 Su
ppl.,
ml.
30Ib
id.
Ibid
.Ib
id.
(J+
K)m
lxiu
s(L
thru
o)Su
rvey
of
Cur
rent
Bus
ines
s Jy
. 194
7 Su
ppl.,
Tb]
.. 30
Same
jour
nal J
5. 1
944,
p. 1
2Sa
me
jour
nal J
7. 1
947
Supp
l., T
b]. •
30(Q
+R
).in
usS
T
492
115 26 45 596
3,09
3
693
817
1,19
714
01,
047
A B C S F 0 H I 3 K.
L N N 0 P Q R S4
142
6,13
2
1
Hou
seho
lds
—S
uppl
emen
tto
Ord
inar
y E
xpen
ditu
res
Spen
t by
Hou
seho
lds
as C
usto
mer
sS
(mill
ions
of dol].ars)
1411
-214
Scen
t by
HR
as
Cus
tom
ers
(Con
t,)Sp
ent b
y H
R f
or r
ecre
atio
n ex
cl. c
erta
in n
et p
a.m
enta
,/D
ues
& f
ees
to f
rate
rnal
, pat
riot
ic &
wom
en's
org
a.D
ues
& f
ees
to
yout
h or
g..
Exp
d. o
n go
vt. r
ecre
atio
n sp
ots
Tot
al s
pent
by
HE
for
recreation
FT
otal
spe
nt b
y R
H f
or e
duc.
fee
sG
Fore
ign
trav
el e
xpd.
by
104
/S
pent
by R
H a
/c c
onst
r.. (
deal
er &
nfi
'. in
stal
latio
ns):
HV
alue
of
new
cnn
str.
act
ivity
, o'm
or o
ccup
ied
dwel
lings
IInstalment, to coEtractors from 1411 for owner
occu
pied
dw
ellin
g.J
Forc
e ac
et. &
dea
ler
inst
alla
tions
a/c
con
str.
of
owne
roc
cupi
ed d
wel
lings
KEat,
spen
t by
HR
for
dea
ler
inst
alla
tions
in n
ew c
onst
r, a
ctiv
ityL
Val
ueof private
res.
repair
activ
!ty
H-
Inst
alm
ents
tocontractore for rae.
repa
irN
Forc
eacct. & dealer
inst
alla
tions
a/c
pri
vate
res. repair.
Sour
ce R
efer
ence
Surv
ey o
fCurrent
Bus
ines
s -3
y.1947 SuppL,
ml.
30
Same
jour
nal J
e.1944,
p. 1
2Ib
id.
4Ibid.
3,48
1AthruD
41.9
Surv
ey o
fCurrent Business
Je.
1944, p.. 1.2
353
Same
jour
nal J
y.1947 Suppl.,
ml.
30
Eat, ma J x (75%)
HI!
201
HSR
221. I
L minus H
157
Eat
. as
N x (37.5%)
552
K+
01.
36E
at. a
s eq
ual t
o H
R 1
01 P
51,2
40(R
H 2
12 B
+ s
) +
(R
H 2
13 I
+ P
+ 7
) +
(HR
214
B +
P+
0+
P,i.
Q)
--A B C D B
3,34
711
2 18
HR
201
K-
HR
201,
LH minus I
1,316.
790
526
-395
917
499
4.18
0E
at. s
pent
by
1111
for
con
atr.
rep
air
mat
eria
ls, e
tc. -
PT
otal
spe
nt b
y H
R a
s cu
stom
ers
a/c
cons
tr.
QE
at, m
ark
upon
seco
ndha
nd g
oods
not
md.
abo
veK
Tot
al s
pent
by
HE
as
cust
omer
. (T
o R
H 2
01F)
A B C D B F C H I 3 K L H N 0 Q K
/Exo
lude
s ne
t pay
men
ts b
y H
ouse
hold
s to
fra
tern
al, p
atri
otic
and
wom
en's
org
aniz
atio
ns.
2Jpa
ymen
ta to
Uni
ted
Stat
es v
esse
ls, e
xpen
ditu
res
by U
nite
d St
ates
Gov
ernu
mnt
per
sonn
el, a
nd o
ther
for
eign
trav
el e
xpen
ditu
rea.
Households —
Loan
fund
eH
R 3
01(m
illio
ns o
fdollars)
Source
Ref
eren
ceA
ET
S,DEC 31
Curr,noy and Deposits
AC
urre
ncy.
hel
by in
d1vi
dua1
e &
trus
t fun
ds4,
600
Unp
ub. F
ed. R
e.. )
4sso
(R
&S
1147
Rev
.), D
.c. 1
945,
AT
bl.
III
Eat •
Far
.holding. of currency
713
AC
301 F
BCurrency held by HR
LI
3,82
7A minus B LI
C
Total
time
deposit. held by individual.
LI
24,3
00-
Unp
ub.Fed. Re.. Memo (MS 1147 Rev.), Dec. 1945,
D
?bl.
Iv/
BTotal demand deposits
held
by
indi
vidu
als
8,10
0Id
es,
TbI. I
&tr
ust f
unds
(exci. est. mail float)
FE
st. d
eman
d de
posi
ts h
eld
by F
erns
1,289
AC 301
BF
CD
eman
ddeposits
held
by
is.H
LI
6,81
1H minus F
LI
C
HT
otal
RH currency & depoElta (To B. -I a)
32,4
19 i/
34,9
38C
+D
+C
LI
H
IFe
dera
lObligations (To cB I e)
10,000
10,200
Tech.
Pape
r N
o. 5
,N
at.
Bur
. Loo
n. R
ae. 1
947,
Ibi
. 4.1
.1Other Loans and Securities (To
P&B
I f
)110,444
109,474
HkI
311
SJ
KTotal LcanfuEids Receivable (To P&B I g)
152,863
154,612
H + I +
3K
LIABILITIMB, DECEMBER 31
Account. Payable
Consumer credit
outs
tand
ing;
LSale
cred
it (e
xcl.
auto
cre
dit)
1,34
31,
525
Fed. Has.
Bul
l. A
pr. 1
946,
p. 4
32L
NC
harg
eaccts.
1,487
1,544
Ibid.
MN
Service credit
523
533
Ibid.
N
0Total accts. paybl. (To F&B I h)
3,353
3,60
2L+ H +
No
For
dates before December 31, 1939 no separate estimates were
mad
efor lInes C, D, and C.
Line H was computed as follows.
An Indicator
series was obtained by deducting from
S. S
hapi
ro's
estlisate of currency and deposit
hold
ings
of
indi
vidu
als,
non
prof
it or
gani
satio
na, n
onoo
rpo—
rate
agri
cultu
re a
nd p
ublic
utilities, etc. ("The Distribution of Derosits and Currency Id the U. 3. 1929—39", Journal of the American Statis-
tical Association, Deceabes 1943, p. 441) cash balancs of farmers, nonrrofit organizations, and noncorporate public utilities (AG 301 G +
PP3010 + a rough estimate of the public utility component of PP .01 B).
This indicator series was multiplied by a constant weIght ratio
(34,938 4.
the
value of the indicator series for December 31, 193°).
bues
hold
s -
Loan
fund
,an
d V
alua
tion
Adj
uant
(elil
ions
of
dolla
rs e
xcep
t for
fig
ures
in p
aren
thes
es)
ffli3
cQ
Oth
er D
ebts
Pav
sb].
-A
Aut
o sa
les
cred
itB
Consiaer
inat
a1nt
loan
sC
.Si
ngle
pay
men
t loa
nsD
Con
auer
cre
dit,
n.e.
c.
K.
Rat
io o
f at
g. A
nt. o
n ov
esr
occu
pied
to m
t. on
total
nonf
aris
dw
ellin
gs (
%),
C.
Y.
LR
atio
of
ntg.
Ant
. on
owne
r oc
cupi
ed to
mt.
ontotal
nonf
arn
dwel
lings
(%
),D
eo.
31
Tot
al n
onfa
r ra
e. n
tgs.
olo
ans
froa
Oov
t. lif
e in
s. f
wad
(po
licy
& a
dj.
serv
ice
cert
ific
ate
loan
s)
1,26
?1,
644
1,46
84,3.79
3,25
4 60 10-
633
638
1,271
(50.
5)(4
9.8)
(50.
2)(9
.8)
23,9
2?24,619
12,0
1112
,260
150
152
991
851
21,143
21,815
24,4%
500
Sour
ce R
efer
ence
Fed.
Re.
. Bul
l. A
pr.
1944,
p.432
Ibid
.m
id.
A+
B+
C2UA
HR
211.
C
HR2J1K
Files,
U.
S.
mid.
H+
IR
J2 yr. forward
nvg.
avg
. ofK
A B C D I F 0 H I 3
BPr
wai
u no
tes
& lo
ans,
Lif
e In
s. C
os.
FE
at, l
oans
, fra
tern
al b
enef
it so
ciet
ies
0E
at, l
oans
, eel
f—ad
eini
ster
ed p
ensi
on p
lans
H)I
tg. A
nt,on owner
occu
pied
non
fara
dw
ellin
gs, C
. I.
IH
tg. m
t. on
tenant
occu
pied
non
farm
dw
ellin
gs, C
. I.
3T
otal
Mg
Ant
. a/c
H +
I
970
1,26
51,
442
3,67
73,
396 57 10 64?
635
1,2
Ret
. Mg.
deb
t a/c
ow
ner
occu
pied
non
farm
dw
ellin
g.,
Dec
. 31
Dep
t. of
Co&., Hat.
Inco
me
Div
.
PB
et c
usto
mer
s' d
ebit
bala
nces
with
mec
. bro
kers
&de
aler
s
Qle
an.
to o
ther
s th
an b
roke
rs &
dea
lers
for
pur
chas
ing
Or
carr
ying
eec
.,all in. •
com
e.bk
a.
BT
otal
oth
er d
ebt.
payb
l. (T
o 1t
B I
i)S
Tot
al I
eanf
a Pa
b1e
(TocB
I j)
Surv
ey o
f C
urre
nt B
usin
ess
Sept
. 194
6, p
•1?
Eat
, as
L x
H
HR
211
F
906
HR
2IIN
794
Bnf
rlng
& P
bnst
sry
Stat
. •T
bl.
40
D+
I÷P+
0+N
+0+
P+Q
(HR
301
0) +
(un
y a)
____
____
____
____
____
_25
,417
TBet. Bet
Gai
ns a
/c F
orai
,sn
Deb
ts (
To
PB I
n)
500
Bet
.; no
sat
isfa
ctor
y da
taavailable
L N I 0 -P Q a S T
Hou
seho
lds
—&
pple
men
tto
Loa
nfun
deO
ther
Loa
ns a
nd S
ecur
ities
(mill
ions
of
dolla
rs)
_-
AH
tga.
on
1-4
fam
il,y
nonf
arn
dvel
linga
hel
dby individuals
& o
ther
sB
Eat
, tgs
.on
l4 f
amily
non
farm
due
lings
hel
d by
HR
CFarm ritg,
debt
hel
d by
indi
vidu
als
& o
ther
sD
Est
. far
m m
tg. d
ebt h
eld
by H
R-
Sar
1nea
nL
oan
Aoc
ia.ti
on S
hare
g-
Pd.—
in c
apita
l of
svga
. & lo
an a
ssne
,
FSh
ares
in s
vga.
& lo
an a
ssna
.. he
ld b
y Fe
d. G
ovt.
309
GSh
ares
in s
vga.
& lo
an e
nsue
. hel
d by
RH
3,69
6G
oyt,,
b3,g
jon
HSt, & L, Govt0 obligations held by individuale,
part
nero
hipa
&8,
250
personal
trus
tsHo1dnp
of S
tnkS
Pri
vate
Bon
de.and-Other 0bligat49g
IA
ll se
a. c
ompo
nent
of
gros
savg.
3D
irec
t Fed
,C guaranteed Fed,
agen
cyobligations
held
by
indi
vidu
als,
9,30
0pa
rtne
rshi
ps &
per
sona
ltrusts
Oth
er F
ed.
agency
oblig
atio
ns h
eld
byindividuals,
part
ners
hips
&personal
trus
ts95
0L
Eat
,Fed, + St. &
L, O
ovt0
obl
igat
ions
hel
dby NB & noncorp,
priv
ate
enterprises
18,5
00W
Eat
, equ
ival
entof
U, S
. & o
ther
gov
t. se
c. c
ompo
nent
of gross avg..
UB
et, e
quiv
alen
tof
nong
ovt,
nec, component
of g
roan
avg
.O
Nat
cum
ulat
ive
svga
., no
ngov
t.eec,
+ 1
08P
Unt
cus
tonu
rs' d
ebit
bala
nces
ujth
brok
ers
& d
eale
rs +
loan
sto others than
1,842
brok
ers-
& d
eale
rs f
or p
urch
asin
gor carrying eec,
•G
ross
cum
ulat
ive
svga
., no
ngov
t.sac,
1,950
BE
at,HR holdings
of e
tock
a &
pri
vate
bon
ds &
oth
er o
blig
atio
ns93
,392
BT
otal
other
loan
s &
held
by R
H (
To
RN
301
3)
ilO,/,44
urce
Ref
eren
c
Stat
,Abatract 1945, Fbi,
384
Hat
, as
Ax
(55%
),
Agr
.St
at. 1
94.4
, Tbl
, 575
Eat
,as
Cx (71,1%) a!
4,00
54,
060
Spec
ial T
abul
atio
n,Fed,
Hom
e•
LoanHk,Adm,
252
Special.Fed, Has. Tabulation
3,80
8E
mln
usF
8,050
Tre
asur
y A
nn, R
epor
t 194
3,p. 751
H(mog. avg. of 2
F. T
,)
—60
0Special
Stud
y N
o,U, S, Thl, 1
9,700/
Tre
asur
y A
nn, R
epor
t 194
3, p
,751
(movg..avg,
of 2
F. F
,,)90
0Ibid.
18,650
R+
3+1I
+150
InorementinL
750
inssU/
642
Cum
ulat
ive
of N
/1,
700
RR
jO2P
÷Q
1,058
92,500
109,474
0+?.
Q+O92,500ainus$1,05SU
B +
PB S
RB 311
6,3
3,483
2,28
41,
63
6,44
0.3,
542
2,21
51,574
A B -c P B F G I 3 I L U 0 P
if J
anua
ry2,- 1934
indi
vidu
als
hold 19,7 percent of the
mor
tgag
es o
n 1a
rge
sam
ple
of u
rban
oun
er o
ccup
ied
dvel
lings
in 52 cities;
othe
rsex
clud
ing
banks, life insurance coepenies, and building end loan associations
held
14,,? percent.
(Fin
anci
al S
urve
yof Urban Hougjg, Dapertoant
of
Com
earc
e,1937, p. In),
19,7
w(1
9,7+
147)
57,3 percent.
a!E,
C,Larsen in "Distribution
by L
ende
rGroups
ofFars.4rtgaga and Real Estate Holdings, January 1, l93O-l945, U, 5, Depariment of
Agr
icul
turn
1945
, p. /
,2, e
stim
ates
that
on
Janu
ary
1, 1940 individuals
held
23.
9 pe
rcen
t of
tota
l far
m m
ortg
ages
.1ith this
tota
lat
06,5
86m
illio
n(Table
575.
See line C
abov
e) in
divi
dual
s pr
esum
ably
held
01,5
74. m
illio
n.T
he c
onst
ant v
eigh
t rat
io a
pplie
dto
line
C a
bove
equ
als
1,574 j.2,215,
/Thia is
not t
heaverage of
the
June 30, 1939
end
1940
figures.
It is an estimate comparable
vith
the
prio
r ye
ar f
igur
es m
ade
on the basis of
are
vise
dTreasury figure for
June
30,
1940 and a Treasury figure
for
Dec
embe
r 31
, 193
9 (F
reas
ury
Bul
letin
May
194
4, p
.45).
Revised Treasury
figures
for
prio
r ye
ars
beca
me
avai
labl
etoo
late
for
inco
rpor
atio
n in
this
stu
dy,
JFor
year
s af
ter
1939 this
item
use
estimated
as th
ecomponent
of g
ross
savings
entit
led
5aec
ur'it
ies,
cor
pora
te a
ndother" in Securities
and
Exchange Coumiasion
Rel
ease
Num
ber749, March
20,
1945,
Therefore for yearn 1940—1942 lines
I th
roug
h L
abo
ve 'd
are
not n
ecea
sary
,fb
acam
ber31, 1935 use set at earn,
-.
/Sse
App. A 3 ,
Farm
s —
Ord
inar
yR
ecei
pt.
(mill
ion.
of
dolla
rs e
xcep
t for
fig
ure.
in p
sr.n
thea
e.)
AG
101
Sour
ce R
efer
ence
Q T
ota1
0rdi
narg
Reà
eint
a(T
oPIf
lE)
A+
B+
O+
P'F
rom
193
0 to
194
0, u
rban
pop
elat
ion
incr
ease
d 7.
9% (
Stat
istic
al A
bstr
act 1
94.4
. Tab
le 1
0).
Urb
an la
nd a
rea
has
been
est
imat
ed a
s an
ount
ing
to13
mill
ion
acre
s in
194
0 (e
stim
ate
furn
ishe
d by
L. A
. Reu
se o
f th
e U
. S. B
urea
u of
Agricultural
Eco
nom
ics)
.A
ssum
ing
a pr
opor
tiona
te in
crea
sein
urb
an la
nd a
reas
ove
r th
e pe
riod
, the
tota
l tra
nsfe
r of
rur
al la
nd to
urb
an u
se w
ould
ano
unt t
o 9&
) th
ousa
nd a
cres
, or
an a
nnua
ltr
ansf
er o
f96
thou
sand
acr
es.
At a
n ap
prox
imat
e pr
ice
of$1 thousand
per
acre
, the
val
ue o
fthe transfers
wou
ld a
noun
t to
abou
t $10
0 m
illio
n.In
eac
hof
the
thre
e ye
ars
1940
-194
2 it
was assumed
that
an
addi
tiona
l $10
0 m
illio
n w
as r
ecei
ved
by F
arm
s fr
om s
ales
of land to tbe Federal Governt.
For
gove
rim
ent p
urci
ases
see
Tex
t Tab
le 1
1.
Reo
eint
s fr
om C
usto
mer
sA
Cas
h re
ceip
ts f
rom
far
m m
arke
ting.
(T
o 11
.3 I
I A
)7,
877
Net
Pay
men
ts f
or R
eal E
stat
e T
rans
fers
BN
et r
ecei
pts
from
sal
e of
agr
. lan
d fo
r ur
ban
use
100
-
(ToII
B)
Insu
ranc
e B
enef
itsC
Net
pym
ente
by
Farm
s fo
rfire,
hail
& w
inds
torm
ins.
41D
Eat
, ben
efit.
róc
d. b
y Fa
rms
31
GFe
d. e
rop
ins,
pro
gram
12
Aut
o in
s.:
-
HCare
onFarms
(N S
ara)
4,03
0I
Care
onFarm.
forfarm
busi
ness
use
CM
car
s)(
2,01
53
Tru
ck, o
n Fa
rm. (
N tr
ucks
)(
1,02
0K
Veh
icle
s us
ed f
orfarm
busi
ness
(M
veh
icle
.)C
3,03
5L
Ins,
pre
miu
ms
pd. p
er. o
ar b
y Fa
rms
($)
(8.
50)
NE
at,
auto
Ins
, pre
miu
ms
pd.
by F
arm
s25
NZ
.t, a
uto
ins,
ben
efits
rec
d. b
y Fa
rm.
15
0Eat, as total ins,
bene
fits
recd. by Farms
(To
11.3 II C)
58
Public Ruuose
Paym
ents
PFe
d. G
ovt.
paym
ents
to F
arm
s (T
o 11
.3 I
I D
)80
'?
Agr
. Sta
t. 19
4.4,
Tbl
. 53?
A.
Est
imat
e, s
ee f
ootn
ote
1/3
File
a,U
.S. ME, Agi'.. Finance Div.
.C
Eat
. as
C x
(75%
),.
D
App
. B, W
orks
heet
E—
5—B
.•G
Agr.
Sta.
194
3,Tblf 50'?
.0
Eat
. aef
lx(5
0%)
I
Agr
. Sta
t. 19
43, m
l. 50
73
1+3
...
K
Income
Puri
ty f
orAgriculture,
U.S. BAR,
L
Oct. 1940,
Pt. I
I, S
ec. 4
, Tbl
. 15
LxK
.N
Eat
.asM
x(60
%)
N.
D+
G+
N.
0
Agr
. Sta
t. 19
43, T
hl. .
493
.
p Q
Farm
s -
Ord
inar
yB
xpez
iditu
res
AG
201
(mill
ions
of
dolla
rs)
Sou
rce
Ref
eren
ce
rosa
Cas
h Pa
yA
Cas
h w
ages
pd.
to la
bore
rs li
ving
on
Farm
s &
7N
et F
arm
Inc
oes
& P
arity
Rep
ort 1
943,
U. S
. RA
E,
A
notliving
onFares
(To
Etc
B I
I H
)Fb
i. 15
Cus
h T
hter
eat
BIn
t p6.
on
farm
mtg
. deb
t30
5Id
em, F
bi. I
i.B
Cmt.
p6. o
nshort
term
deb
t22
7Fi
les,
U. S
. RA
E, 1
gr. F
inan
ce D
iv.
C
DTotal
mt.
p6. b
y Fa
rma
(To
cB I
I 3)
532
B +
CD
BRants
p6. t
o la
ndlo
rds
not o
n Fa
rms,
sin
us41
2Fi
les,
U. S
.RAE, Agr. Finance
Div
.B
taxe
s &
pro
duct
ion
expd
. of
land
lord
s (T
o P&
B I
I K
)
Snen
t by
Farm
s as
ston
mrs
FC
urre
nt o
per.
, exp
. +re
ntp6
to la
ndlo
rds
not o
nFerns
3,26
1N
et F
arm
Inc
ome
& P
arity
Rep
ort 1
943,
U. S. RAE,
F
ml.
16
0Fa
rm e
xpd.
for
bui
ldin
gs53
0m
id.
&
HE
at. e
xpd.
for
non
res.
bui
ldin
gs b
y Fa
rms
292
Eat
, as
G x
(55
%)
H
IFarm
expd
. for
tor
vehi
cles
, mac
hine
ry &
equ
int
694
Net
Far
m I
ncom
e &
Par
ity R
epor
t 194
3, U
. S. R
AE
,I
mi.1
63
Tot
al o
f ab
ove
ourr
ent &
cap
ital e
xpd.
by
Farm
s4,
24?
F +
H +
I3
Ded
uctio
nat
(Non
cuat
omer
item
s m
d, in
line
3)
KG
ross
ren
ts p
6. b
y Fe
rns
442
BK
Lm
t. p6
. by
Farm
s on
shcrt-tere
debt
22?
CL
)(In
stal
men
ts to
con
trac
tors
p6.
by
Fare
s58
FN
N)tor
vehi
cle
taxe
s p6
. by
Farm
s31
AG
202
FIi
Ins,
premiums
p6. b
y'Farms (exel. auto ins.)
79
AG 202
(3 +
14)
0
Ins, benefits reed, by Farms
(exc
i. au
toins.)
43A
G 1
01(D +
C)
P
let ins,
prem
ium
s p6
..by Farms Carol. auto ins.)
36
0 minus P
Q
Tot
al d
educ
tions
fro
m e
xpd.
by
Farm
s-
794
K thrn N + Q
B
Eat, spent
by F
arm
sas customers
(To
1.B
II
L)
3,45
33m
fnus
BS
Inst
alm
ents
to C
ontr
acto
rsIn
stal
men
ts to
con
trac
tors
for
non
res.
bui
ldin
g58
Est. as H x (20%)
F
(To}
BII
M)
____
____
____
____
____
____
____
__
Farm
s —
Ord
inar
y E
xpen
ditu
res
(mill
ions
of d
olla
rs e
xcep
t for
fig
ures
in p
aren
thes
es)
AG
202
Tax
es C
olle
cted
£Pr
oper
ty ta
xes
pd. b
y Fe
rns
)bto
rve
hicl
e ta
xesi
Bt'b
tor
vehi
cle
taxe
s co
llect
ed b
y st
ate
govt
s.C
)tor
vehi
cles
reg
iste
red
(K c
ars)
D)b
tor
vehi
cle
tax
pd. p
er v
ehic
le. 1
$)K
.V
ehic
les
used
for
far
m b
us. (
K v
ehic
les)
FE
at. t
or v
ehic
le ta
x pd
. by
Farm
s0
Eat
, tot
al ta
xes
pd. b
y Fa
rms
(To
II N
)
452 3
C30
,615
)•(
9.87
)C
3,03
5)31 48
3 41 31 72 7 25 104
8,84
2—
574
8,26
85,
854
2,41
1+
Source Reference
Financial Stat, of States
1939
, Th1
8A
uto
Facts & Figures 1943, p.
48B—C
AG
101K
B-x
EA
+F
ià 1
01Q
301
Q
P+ Q
A B C D K F -G H I 3 H N 0
Net Farm
Inco
me
& P
arity
Rep
ort 1
943,
U. S
. BA
K,
Tbl
.14
Insu
ranc
e Pr
ajm
sH
Net
pe'
men
ta b
y Fa
rms
for
fire
,hail & windstorm
ins.
IB
enef
its r
ecd.
by
Farm
s fr
om f
ire,
hai
l & w
inds
torm
ins.
3T
otal
paym
ents
or
fire
, hai
l & w
inds
torm
ins,
KFe
d, c
rop
ins.
n'o
gram
NA
uto
ins.
pre
iusa
pd.
by
Farm
s0
Tot
al in
s. p
reni
ums
pd. b
y Fa
rm. (
To
.-II
F)
Net
Ow
ner
Tak
eout
aT
otal
ord
inar
y re
ceip
t.In
crem
ent i
n ne
t loa
nfun
d ba
lanc
e pa
ybi.
Eat
,total
ordi
nary
exp
d,O
rdin
ary
expd. other than net ouner takeout.
Net
ow
nertakeout.
(To
IIQ)
AG
101
CA
G 1
01 D
H+
IA
pp. B
, Wor
kshe
et E
-3—
N (
2 yr
. vg.
avg
.)A
GlO
lEJ+
M+
N
U T
ot$l
0ydj
nary
Ex!
,end
iture
s(T
oP&
BII
R)
8,,8
(AG
2O1A
+D
÷E
+8+
T)+
(A02
020+
0+T
)U
(A02
011+
D+
E+
S÷
T)+
(A
G20
2a+
O)
R m
inus
S
F— Q R S T
-F
arm
s—
Loan
fund
sA
G 3
0].
(minions
of d
oiJa
rsexcept
for
figur
ein
par
enth
eses
)
•
Sour
ce R
ef&
.ren
ceA
SSE
TS,
DE
CE
MB
ER
31
Cur
renc
y an
d D
epos
its-
AFa
rmer
—ow
ned.
innd deposits, including denosits
1,380 1/
1,51
6B
alan
ceSheet of Agr. 19h5, U.
S. BA!, p. 25
A
of f
arm
hodseholds
BEst, demand deposits owned by Farms
1,17
41,289
Eat, as A x (5%)
B
CDemand deposits owned by individuals, bank
7,800
Unpub. Fed. Eec. Memo (Ft&S 1147 Rev.)
C
records (exci. trust
fund
s)floc.
1047,
Tbl
.I
DC
urre
ncy
in h
ands
of individuals
4,600
Idem
,Tbl. III
D
•(eycl. trust
fund
s)E
Rat
io, i
ndiv
idua
].s'
cur
renc
y to
dem
and
depo
sits
(%)
(59.
0)D
CE
•F
Eat. holdings
ofcurrency by Farms
704
2J
773
Eat,
as3/
5of B
F
oE
at,
total currency and
depo
sits
owned by Farms
2,062
B+
FG
•(ToF&BIIU)
fl
Total Loanfunds
Rec
eiva
ble
(To }WB ii 11)
1,87
82,
062
0-
H
LIA
BIL
ITIE
S, D
EC
EM
BE
R 3
1A
ccou
nts
Payable
.-
IN
on r
eal e
stat
e fa
rm d
ebt
3,39
6B
alan
ce S
heet
of
Agr
. 194
5, U
. S. B
A!,
p. 4
IZ
Non
rea
l est
ate
farm
loan
s1,
945
1,94
0A
gr. F
inan
ceRev. Fov. 1945, U. S. BA!, p.
K.
Acc
ta.paybi., Farms (To cB 11W)
1,648/
1,45
6Irninus J
K
Other Debts
Paya
ble
LFarm
mtg
.debt
6,779
6,58
6A
gr. S
tat.
.194
4, T
bl.
575
L
NN
on r
ealestate
farm
loan
s1,
945
1,94
0J
11
N.
Other debts paybl., Farms (To F&B ii!)
8,724
8,52
6L+
N-N
oT
otal
Inanfund
Paya
ble
(To cB II I)
.10
,372
9,982
K+.N
0
•F
Net loanfund
bala
nce
payb
l.7,920
0 minus H
P
QIn
crem
ent
in n
etloanfund balance paybl,
—57
4In
crer
ent
in
PQ
,/For
dates before December 31,
1939
,this item was estimated by
extr
apol
atin
gthe RAE
seri
eson farmer—owned demand deposits by
the
1939
ratio
of
dem
and
depo
sits
at c
ount
ry b
anks
in p
lace
s w
ith p
opul
atio
nunder 15,000
to f
arm
er—
owne
d de
man
d de
posi
ts.
a/Fo
r da
tes
befo
reDecember 31,
1939
, the
193
9 ra
tir' w
as u
sed,
3/Fo
r da
tes
befo
re D
ecem
ber
31,
1939
line
K w
asestimated
by m
u)tip
1yin
accoun
rece
ivab
le o
fsix major farm equipment producers
(Indutrial
Secu
ritie
s 19
39, M
oody
) by
the
1939
wei
ght r
atio
, i.e
., th
e ra
tio o
f lin
e K
tothis series as of
Dec
embe
r. 3
1, 1
939.
•C
ash
Div
iden
dsA
Div
. ree
d, b
y no
nfin
anci
al c
orp.
3/
(To
IB I
II A
)C
ash
Inte
rest
Bm
t. re
ed. b
y no
nfin
anci
al c
orp.
. 3/
(To
N I
II B
)34
2•
Oro
esR
ents
CR
ents
ree
d. b
y no
nfin
anci
al c
orp.
DR
ents
rea
d, b
y t,
BIB
bas
isE
Ren
ts r
ent,
by M
, IC
C b
asis
FL
dj. g
ross
ren
ts r
ead,
by
cofl
fina
ncia
l cor
p. (
To
B lI
mo)
524
-R
ecei
cta
fran
Cas
tom
ers
oC
orp.
sai
dby
all
priv
ate
indu
stri
esB
Sale
s by
cor
p. f
axns
g/
ISa
les
by c
orp.
con
str.
con
trac
tors
•3
Sal
esby
md.
Cor
p. (
cxci
. ear
, ser
vice
cor
p. &
corp
. con
str.
con
trac
tors
)N
Eat
, sal
es b
y ag
r. s
ervi
ce c
orp.
o-
Sal
esby
All
mud
. Cor
p. (
cxci
. con
str.
con
trac
tors
)P
Tip
s re
ed, b
y em
p].c
yees
of
md.
Cor
p.. &
Bus
. Pr.
& P
t. et
.14
Tip
s re
ad, b
y em
ploy
ees
of m
d, C
orp1
3/
RE
at, e
xcis
e &
sal
es ta
zes
nette
d in
opé
r. r
ev, r
epor
t.of
md.
Cor
p.S
Tot
al r
ecei
pts
from
cus
tom
ers,
md.
Cor
p. (
To
.B I
II D
)11
9,49
5In
stal
men
ts to
Con
trac
tors
TC
orp.
sal
es, c
onat
r. c
ontr
acto
rs (
To
F&B
III
B)
2,20
8
Inde
stiia
l Cor
pora
tions
—O
rdin
ary
Rec
eipt
s(.
4114
ofdo
llars
exc
ept f
or f
igur
e in
par
enth
eses
)
967
•
532 28 20
idol
Sour
ce R
efer
ence
Stat
.ofl
nocm
e193
9,Pt
.2,T
bl.3
,Pt.I
A
Ibid
.B
•Ib
id.
0
C
Sour
ce B
ook
U. 8
. Rer
, of
Inte
rnal
Rev
enue
D•
Stat
.- o
f R
ailiy
s 19
39, I
CC
, Tbl
.'109
,I
'mis
c. r
ent i
ncoa
'-.
(Cm
inua
D)+
EF
Surv
ey, o
f C
Urr
a;t R
ealn
ess
Apr
. 194
6, p
. 19
0Ib
id.
•H
'Ibid
.I
"Gm
inna
(H+
I)-
'3
•R
et. a
H x
(6.
25%
)J+
N0
File
s, U
. S. D
ept.
of C
oá.,
Nat
. Inc
ome
Div
.P
'Eat
.'as2
/3of
P4
Eat
, as
2/3
of (
to 1
19 I
)exc
iae&
sal
es te
xce
Rby
lad.
Cor
p.-
0+Q
+R
-8'
Surv
ey o
f C
arre
nt B
usin
ess
Apr
. 194
6, p
. 19
120,
789
528
2,20
811
8,05
3 3311
8,08
618
312
21,
287
JIm
. cla
ssif
icat
ion
nonf
inan
cial
cor
pora
tions
incl
udes
all
corp
orat
ions
fili
ng f
eder
al in
com
e ta
x re
tarn
E e
xcep
t les
sors
of
real
pro
perb
y an
dfi
nanc
e, in
sura
nce,
and
rea
l est
ate
corp
orat
ions
.T
his
clas
sifi
catio
n is
iden
tical
with
the
tran
sact
or g
roup
Ind
ustr
ial C
orpo
ratio
ns e
xcep
tth
at it
incl
udes
Inc
orpo
rate
d fa
rms.
V'T
hs C
omee
rce
Dep
arta
ent e
stim
ate
entit
led
farm
s ap
pare
ntly
Inc
lude
s gr
oss
sale
s an
d gr
oss
rece
ipts
fro
m o
pera
tions
(St
atis
tics
of I
ncom
e 19
39,
Pt. 2
, Tab
le 3
, lin
es 2
and
3)
by tr
ansa
ctor
a in
Sta
ndar
d In
dust
rial
Cla
ssif
icat
ion
maj
or g
roup
07,
agr
icul
tura
l and
sim
ilar
seiv
ice
östa
biis
h-m
ents
.3/
Tip
s an
d ot
her
grat
uitie
s gi
ven
empl
oyee
s of
Ind
ustr
ial C
orpo
ratio
ns a
nd B
usin
ess
Prop
riet
ors
and
Part
ners
hips
.t .1
are
trea
ted
as r
ecei
pts
from
cus
tom
ers
for
thes
e tr
ansa
ctor
gro
ups
sinc
e th
e to
tal g
rosa
cas
h p
(exp
endi
ture
) pa
id b
y th
ese
tran
sact
or g
roup
. to
Hou
seho
lds
inol
udel
-th
e va
lue
of ti
ps a
nd o
ther
gra
tuiti
es.
Ref
unda
Inte
rnal
nsv
enne
tann
e re
feds
AIn
co.r
ie ta
nna
refu
nded
BB
at. l
noom
e ta
nna
refu
nded
to le
d. C
orp.
:C
Mie
n •
inte
rnal
reve
nne
ts r
efun
ded
DE
at. a
bove
Int
erna
l rev
emla
tas
refu
nded
to te
d. C
orp.
•S
Tot
al a
ool-
al m
a. ta
xea
refu
nded
FE
at. r
efun
ded
to le
d. C
orp.
Cua
tom
a du
ties
refi
mde
dG
Tot
al r
efun
ded
HE
at, r
efun
ded
to te
d. C
orp.
Proc
essi
ng ta
xee
refu
nded
:I
Tot
al r
efun
ded
JE
at. r
efun
ded
to le
d. C
orp.
KT
otal
' tax
es r
efun
ded
to te
d. C
orp.
(T
o ,P
9 In
F)
Inau
rano
e B
enef
it.L
Tot
al in
s. b
enef
ita p
d. b
y A
ll In
s. C
oc. V
'tñ
sbe
nefi
ts r
ead,
by:
X'
HH
(exc
i. so
cial
Ins
, ben
efit.
)N
Fam
e (e
xci.
Fed.
Gov
t. ur
op in
.. pr
ogra
ms)
0A
ll bu
s. (
exol
. Far
ms)
PE
at, l
ed. C
orp.
: Ox
1939
wei
ght r
atio
(T
o .B
III
a)
Publ
io P
umno
se P
aym
ents
Fed.
Gov
t. an
beid
iea:
QU
.S.
Iri
tine
Coa
l. op
erat
ing
& o
on.tr
. aub
eidi
es40
RR
FC a
ub.id
iea
for
oil t
rana
p..
0S
TV
Aau
b.id
iee
..
'07
Tot
al p
rblio
por
pose
p'm
ente
ree
d. b
y ..
Cor
p.(T
o cB
III
H)
4016D
eil7
Tr.
a.nz
y 8t
atnt
311
5/40
,p.
7 j
11'
Sat,
as 2
/3 o
f 0
.11
Da1
37 T
r.as
ui S
tate
nt 3
115/
/.0.,
p. 7
/5
Sat
.a.
]/2
of I
38D
+P
+H
+J
Indu
stri
al G
orpo
ratio
neO
rdin
ary
Rec
eipt
.(x
impn
s of
dol
lar.
)-
Sou
rce
Ref
eren
ce
36. o
flfl
term
si R
evem
e, I
nn. R
epor
t 194
0,p.
32/
1Z
et.a
..Ax(
50%
)4
r. o
f In
tern
l Ree
mia
, Ann
. Rep
ort 1
94°,
p. 3
1/
Bet
.nu
B +
50%
ofC
3B
utof
Int
erna
l Rev
ea, A
nn. R
epor
t '19
40, p
. 3 2
/2
Est
,a.2
/3of
Z
A B C 'B I p 0 I .1 K
3,34
7
2,75
0 46 261
U T
otal
Ord
inar
y R
ecei
nte
(To
I&B
III
J)
(LX
2N+
Q),
+(O
I2O
3Q)
.L
HR
1O2T
..
.•N
Afl
IO1D
+I
..
5L
min
u.(M
+N
).
,0,
Est
.a.O
x(47
.5%
)j/
...
P
App
. B, W
orks
heet
5-4
-bQ
CR
epor
t to
the
Pres
iden
t 311
5/45
.R
Dai
ly T
reas
ury
Stat
emen
t 311
5/40
8 T
(IC
lolA
+B
+F+
8+T
)+(I
C10
2K+
P+T
)U
VT
ax r
efun
d fi
gure
s on
line
a A
, C, e
nd S
hav
e be
en c
onve
rted
fro
m th
e fi
scal
yea
r ba
sis,
on
whi
ch th
ey w
ere
repo
rted
to a
cal
enda
rye
ar b
asis
by
com
putin
g tw
o ye
ar m
ovin
g av
erag
e..
Tbo
ee o
n lin
e. 0
and
I a
re tr
ue c
alen
der
year
fig
ure.
.di
vide
nds
paid
'to
polio
yhel
dera
..
2/F
or19
39 r
atio
s ee
à A
pp. A
3n.
Indu
stri
al C
orpo
ratio
ns —
Ord
inar
yE
xpen
&tu
ria
(mill
ions
of
dolla
rs e
xcep
t for
fig
ure
in p
aren
thes
es)
IC 2
01
- A
Gro
ss C
ash
Pay
(To
INcH
III
N)
Cas
h D
ivid
ends
Div
.p6. by nonfinancial
corp
.D
iv.
read
,by
non
fina
ncia
l cor
p.N
atdlv. p6. by nonfinancial.
corp
. (ta
x re
port
baa
ia)
Net
div
. p6.
by
all p
riva
te in
dust
ries
, -cx
ci. f
inan
ce,
ins.
& r
eal e
stat
e (C
omn.
Dep
t. ba
sis)
Dif
rere
nce
in e
stim
ates
., no
tdlv.
p6. b
y no
nfin
anci
al C
orp.
Div
.p6. by md. Corp. (To P&B III N)
-C
ash
Inte
rest
HCash
mt.
p6, b
y no
nfin
anci
al c
orp.
(T
o IN
cB I
llP)
Gross Rents
Rents
p6. b
ysI
)thiing &.
quar
ryin
gbo
a.3
Sal
es,mining etc. corp.
KOper.
rev.
,mining etc. corp.
LRatio, oper. rev, mining corp. etc. to oper. rev.
all mining bus. (%)
NM
inin
g &
qua
rryi
ng c
orp.
• N
-.
All
publ
ic u
tility
cos,
o-
Eat
.ra
zbiio
util
itycorp.
PAll
mfg
. ent
erpr
ises
QE
at.
mfg.
corp
.R
Wholesale &
reta
il- c
orp.
SSe
rvic
es, a
gr. s
ervi
oOs
& c
onst
r. c
orp.
TT
otal
ren
ts p
6. b
ym
d.C
orp.
for
use
of r
eal e
stat
e-R
oyal
tiass
UOther
dedu
ctio
nsfrom compiled receipts
for
prin
ting
& publishing corp.
VE
at. i
mbl
is}m
rs' r
oyal
ties
p6. b
y la
d. C
orp.
--V
Tot
al o
asrents
p6. b
y m
d. C
orp.
(T
o W
cB I
II Q
)
1C21
5QA
Stat
, of
Income 1939,
Pt. 2
, Thl
. 3, P
t. I
Thi
d.-
Bai
nusC
Survey of
Cur
rent
Sua
ines
sApr. 1946, p. 16
B C D B F G
25,2
24
4,29
396
73,
326
3,32
3
Sour
ce R
efer
ence
B C D H F a3
D*1
nuaE
4,29
0-
Bm
inus
F
Stat
, of
Inco
me
1939
, Pt.
2, T
hl. 3
, Pt.
IH
351
2,73
1: 2
72 -
(90.
9)
Surv
ey o
fCurrent
Sam
e jo
urna
l, A
pr.
PP1IIN
-
Business Mar.
1946, p. 19
1946
, p.18
•
I 3 KJ5
.(+
K)
V
L.
319
207
19?
301
2'??
LX
I-
Sur
vey
ofCurrent
Eat
. as
N x
(95
%)
Surv
ey o
f C
urre
ntE
at, a
s P
x (9
2%)
V
Bus
ines
sMar
•
Bus
ines
sM
ar.
•
1946
, p •
18
1946
, p •
18V
V-
V
x N .0 P q67 22
5St
at, o
f In
com
eV
Thi
d-
1939
, Pt.
2, m
l. 3,
Pt.
IB
1,70
5M
+0+
Q+
R+
S
438
Stat, ofIn
o1939, Pt. 2, Tb].. 3,
Pt. I
VU
11,5
Eet
.aal
/3of
Uy•
1,85
0-
T+
T'
V
Indu
stria
l Cor
pora
tions
—O
rdin
aryKxpenditures
(millions
of d
olla
rs)
IC 2
Spent by
md.
Cor
p. a
s C
usto
nere
APu
rcha
ses
of
good
s &
aei
-vic
es b
y m
d. C
orp.
(T
o P&
B I
II 8
)N
et P
aym
ents
for
Rea
l Est
ate
Trs
nsfe
rB
Net purchases
ofreal estate (To IB III S)
Instalments
to C
ontr
acto
rsV
alue
of
new
pri
vate
con
str.
act
ivity
Cm
d.constr.
Comm., social & misc. constr.
Public utility constr,
Value of constr. activity a/c nonres,, nonfarm building
repa
irs
Eat
.instalments
toprime contractors from
lad.
Cor
p. a
/c:
NIn
d.constr.
IC
onan
, con
str.
3Pu
blic
util
ity c
onst
r,K
Rep
airs
LT
otal
,instalments
to p
rim
e co
ntra
ctor
sfrom md. Corp.
NSales, corp. conatr. contractors
NEat, value of subcontract work perforned
for
corp
. cpn
trac
tors
0Total instalments to contractors from md •
Cor
p.(T
oP&B
III
T)
Tax
es C
olle
cted
Fed.
St. &
L. t
axes
pd.
by
led.
Cor
p. (
To
B I
II C
)In
sura
ncePremius
Total premiums recd. by All Ins.
Car
rier
s (l
ess
div.
to p
olic
yhol
ders
)
NPremiums pd. by HR
SPr
emiu
ms
pd. b
y Fa
rms
(exci. Fed. Govt. crop ins,
prog
ram
s)T
Prem
ium
s pd
. by
all b
us. .
(axc
l. Fa
rms)
to p
riva
tecarriers
(LI
102
0 +
J m
inus
LI
201
Q)
+(o
r 10
2 U
min
us 0
1 21
1 0)
HH
203
(D th
ru I
) m
inus
HA
G 2
02 3
+ N
Qm
inus
(R+
S)
D E F
Source Reference
81,4
55IC
225
bA
100
Estimate,
see
footnote /
B
22?
Coristr. Activity in the U. S., Special
Release
Nay
194
1,.,
U.S. Dept. of Coma.
395
ibid
.52
6Ib
id.
427
Ibid
.
170
Eat, as C x (75%) 2/
98
Eat, as 0 x (25%) 2/
210
Eat. as K x
(40%
) /
93Eat. as F x
(22%
)2/
571
8th
ruK
2,208
IC1O
1T11
.0E
at, C
a H
x (
5%)
)/68
1L+N
6,46
2Il
19K
P Q
C D F H .1 3 L H N 0 p R S T.
6,06
7
4,12
?9?
1,8h
3
i/Sal
es o
f re
side
ntia
l pro
pert
y fo
r no
nres
iden
tial u
se a
re e
stim
ated
to h
ave
aver
aged
aro
und
$200
mill
ion
per
year
dur
ing
1930
—19
40 (
see
App
. A 3
viii
).N
at a
nnua
l exp
endi
ture
s fo
r ac
quis
ition
of
real
est
ate
by I
ndus
tria
l Cor
pora
tions
vre
asr
omed
to b
e on
e-ha
lf th
e am
eunt
,/T
hie
wei
ght r
atio
is th
e ra
tio o
f es
timat
ed in
stal
men
ts to
con
trac
tors
ban
ed o
n ad
just
ed 9
Cen
sus
of C
onst
ruct
ion
data
to th
e 19
39es
timat
es o
f C
onst
ruct
ion
Jcti,
vitv
in th
e U
nite
d St
ates
(Speàial
Rel
ease
, May
194
4), T
I.S.
Dep
artm
ent o
f C
omm
erce
.Fo
r th
e w
eigh
t rat
ios
see
App
. A 3
ix,
Rev
ised
Com
mer
ce D
epar
tmen
t est
imat
es o
f co
nstr
uctio
n ac
tivity
bec
ame
avai
labl
e to
o la
te f
or I
nclu
sion
in th
is. s
tedy
,/5
ee A
pp. A
3ix.
Industrial Corporations
—O
rdin
ary
Exp
endi
ture
sxc
203
(mill
ions
of dol]ars)
Insurance
Prem
ium
s (C
ont.)
APremiums pd. by all
bus.
(excl. Farms)
BE
at.
rerA
uma
pd.
by hid. Corp.:
A x 1939 weight ratio
State workmen's compensation funds:
DTotal assessments for state werkmen's compensatior
EBet, assessments
pd. b
yhid. Corp.
FPremiums pd. by
md.
Cor
p. f
or F
ed. G
ovt.
mis
e. in
s, p
rogr
ams
GT
otal
Ins
, pre
miu
ms
pd. b
y hi
d. C
orp.
(T
o r.
B I
II V
)
Ptibli
Purr
ose
?aym
ent
HContributions
&gifts by md.
Cor
p. (
To
P&B
III
W)
IT
otal
Ord
inar
y E
xend
iture
s (T
o P&
B I
II X
)
i/For
wei
ght r
atio
s se
e A
pp. A
3x.
V'rn
clud
es p
rem
ium
s pa
id to
U. S
. Mar
itim
e co
aisi
eaio
n,War
Ship
ping
Adm
inis
trat
ion,
Sour
ce R
efer
ence
1,84
3IC
202
T99
5E
at, a
s A
x (
51.%
) /
7310
103D
58E
st.a
sDx(
8()
0A
pp. B
,Worksheet E-3-(P +
Q)
1,05
3B+E+F
27
Stat. of Income 1939, Pt. 2, Thl. 3, Pt. I
122,9i2
(IC
201 A
+ G
+ H
+W
)+
(1c2o2 A + B +
0+
P)
+(I
c20
3G
+ H
)
A B 0 E P C H I
and
War
Dam
age
Cor
pora
tion,
Indu
stri
al C
orpo
ratio
ns a
nd B
usin
ess
Prop
riet
ors
and
Part
ners
hips
eta]. —
Sup
plen
ent
to O
rdin
ary
Exp
endi
ture
sIC
211
Est
imat
edGross Cash Pay
(millions of dollars) 21
2-
Soi
moe
Ref
eren
se)u
fact
uriu
sIndustries
AGroup
Ti
Payr
oll I
n fo
od, t
obac
co &
pri
ntin
gjd
U5t
rj55
2,70
1Su
rvey
of
Cur
rent
Bus
ines
s Je
. 194
5, p
.19
A
BPa
yrol
l, B
us. P
r. &
Pt. e
t alz
Ax
1939
rat
io 3
/45
44
x (1
6.81
%)
3C
-P
ayro
ll,m
i. C
orp.
-2,
247
A is
inus
BC
I)-
Gro
upITi
Payroll in iron & steel,
etc.
iMustriea 3/
5,1C
QSu
rvey
of
Cur
rent
Business
Je. 1
945,
p. 1
9D
EPa
yrol
l, B
us. P
r. &
Pt.
et a
lsD
x19
39 r
atio
3/
232
0 x (4.55%)
3F
Payr
oll,
md.
Cor
p.-
4,87
00 minus H
p
CG
roup
111
*Pa
yrol
lin other ufg.
indu
strie
s.2/
5.78
2Survey of Current
Bus
ines
sJe. 1945, p. 19
0
HPayroll, Bus. Pr. & Pt. et eli
0 x 1939 ratio 3/
716
Cx (12.38%)
IPayroll, Id. Corp.
5,066
0 si
nusB
3E
at,total payroll, Bus. Pr. & Pt. et al in mfg. industries
1,402
B + 3+
U
HEst. total payroll, md. Corp. in mfg.
indu
stri
es12,183
C +.F
+ I
)Uni
ng I
ndus
trie
sL
Tot
al p
ayro
ll of
"11
e In
dust
ries
1,13
7Su
rvey
orCurrent
Bus
ines
s Je
. 194
5,p. 19
L
14
Payroll, md. Corp.
1,034
Files, U. S. Dept.
of C
oma.
, Nat
. Inc
ome
Div
.14
NPa
yrol
l,Bus. Pr. & Pt. et al
103
LSiUI
1414
Con
stru
ctio
nIdustrx
0Total payroll of constr. industry
1,54
4Su
rvey
of
Cor
rent
Bus
ines
s Je
. 194
5, p
.19
0
PPayroll, Bus. Pr. & Pt. et au
0 x 1939 ratio /
80'?
0 x
(52.
20%
)3/
QPa
yrol
l, m
d. C
orp.
739
0 SI
nUS
PQ
2Im
i wui
ghtratio is
the
1939
rat
io o
f es
timat
edpayroll
of B
usin
ess
Prop
riet
Ors
and Partnerships et
al to
tota
l pay
roll.
For
thes
e w
eigh
tra
tios
see
App
. A 3
iand App. A 3
-v.
3/G
roup
II
Incl
udes
iron
and
ste
el, n
onfe
rrou
s m
etal
s, m
achi
nery
, non
auto
met
ive
tran
spor
tatio
nan
d au
tonu
bile
indu
stri
es.
2/G
roup
III
incl
udes
text
ile, a
ppar
el, l
usbe
r,furniture,
pape
r, o
heni
cal,
petr
olet
an, r
ubbe
r an
d le
athe
r, a
tone
end
mis
cella
neou
s in
dust
ries
..
Indu
stri
al C
orpo
ratio
ns a
nd B
usin
ess
Prop
riet
ors
and
Par
tner
ship
s at
alE
stim
ated
Gro
ssCash Pay
(mill
ions
of
dolla
rs)-
Publ
ic U
tiliti
esA
Tot
al p
ayro
ll, a
ll tr
ansp
. & p
ublic
util
ities
BT
otal
pay
roll,
lad.
Cor
p. I
ntr
ansp
.&
pub
lic u
tiliti
esC
Tot
al p
ayio
ii, B
us. P
r. &
Pt.
at a
l in
tran
sp. &
publ
icut
ilitie
sW
hole
sale
Tra
deG
roup
I:
Sale
s of
foo
d &
.gro
cery
& f
arm
pro
duct
s w
hole
sale
rs -
Pay
roll,
Bus
. Pr.
& P
t. et
au
D x
193
9 ra
tio 1
/G
roup
II;
Sale
s of
alc
ohol
ic b
ever
age
who
lesa
lers
Payr
oll,
Bus
. Pr.
& P
t, et
al:
P x
1939
rat
io /
Gro
upII
I:Sa
les
of c
loth
ing
& f
urni
shin
gs &
dry
goo
ds w
hole
sale
rsPa
yrol
l, B
us. P
r. &
Pt.
et a
l:H
x 1
939
ratio
/G
roup
IV:
Sale
s of
che
mic
als
& p
aint
s, d
rugs
& s
undr
ies,
& to
bacc
o /
who
lesa
lers
Payr
oll,
Bus
. Pr.
& P
t. et
al:
J x
1939
rat
io 4
/G
roup
Vi
Sale
s of
har
dwar
e &
ele
ctri
cal g
oods
who
lesa
lers
Payr
oll,
Bus. Pr. & Pt. at al:
L x 1939 ratio 1/
Group
VI:
Sale
s of
bui
ldin
g eq
uipm
ent w
hole
sale
rs 3
/Pa
yrol
l, B
us. P
r. &
Pt.
at a
l:N
x 1
939
ratio
irG
roup
VII
:Sa
les
of a
ll ot
her
who
lesa
lers
Payr
oll,
Bus
. Pr.
& P
t. at
al:
P x-
193
9 ra
tio 4
/
Sour
ce R
efer
ence
Surv
ey o
f C
urre
nt -
Bus
ines
sJe. 1945,
p. 1
9Pi
les,
U.
S. D
ept.
of C
ome.
, Nat
. Inm
e D
iv.
Ars
lnus
B
Surv
ey o
f C
urre
nt B
usin
ess
Aug
. 194
3, p
. 18
Dx
(l.3
2) 3
/S
urve
yof
Cur
rent
Bus
Ines
s A
ug. 1
943,
p. 1
8Px
(2.
3$)
3/S
urve
yof
Cur
rent
Bus
ines
s A
ug. 1
943,
p. 1
8
Surv
ey o
f C
urre
nt B
usIn
ess
Aug
. 194
3, p
. 18
Surv
ey o
f C
urre
nt B
usin
ess
Aug
. 194
3, p
. 18
Lx(
l,5$)
3/-.
Sur
vey
of C
urre
nt B
usin
ess
Aug
. 194
3, p
. 18
Nx(
l.18%
)3/
Surv
ey o
f C
urre
nt B
usin
ess
Aug. 1943,
p. 1
8Px
(.4l
%)
3/
-3/
Thi
sw
eigh
t rat
io is
the
ratio
of
estim
ated
pay
roll
of B
usin
ess
Prop
riet
ors
and
Part
ners
hips
at a
l to
who
lesa
le s
ales
in 1
939.
Far
wei
ght
rstio
s se
e A
pp. 1
3 ii
.-
-
-&
'1In
clud
esto
baeo
o an
d pr
oduc
ts (
exce
pt le
af).
3/G
roup
VI
incl
udes
plu
mbi
ng a
nd h
eatin
g eq
uipu
ent,
lum
ber
and
mil]
.wor
k, o
ther
bui
ldin
g m
ater
ials
, and
hei
ldin
g m
etal
wer
k.-
— S
uppl
emen
tto
Ord
inar
y xp
endi
ture
s-
IC21
2
D N F
-HI J -I L N N -O P Q
4,89
84,
763
135
19,5
44258
1,685 39
4,83
48'
73,
190-
-68
2,47
4 82,
542 30
20,9
9? 85
A B D N F G H I L N N 0 P Q
Wbo
lepa
la T
rade
(C
ont.)
ASa
t, to
tal p
ayro
ll, B
us. P
r. &
Pt.
at m
l in
who
lesa
le tr
ade
BT
otal
. pay
roll,
all
who
lesa
le tr
ade
CE
at. t
otal
pay
roll,
md.
Cor
p. in
who
lesa
le tr
ade
Ret
ail T
Fade
DG
roup
Ii
Sales
of a
utom
otiv
e pr
oduc
ts r
etai
lers
NPa
yrol
l, B
us. P
r. &
Pt.
at e
liD
x19
39ra
tio ]
/F
Gro
up I
I:Sa
les
of b
uild
ing
mat
eria
ls &
har
dwar
e re
taile
rsG
Payroll, Bus. Pr. & Pt.
at e
liF
x 19
39 r
atio
2,,'
HG
roup
Ifl
*Sa
les
of h
one
furn
ishi
ngs
& ja
velr
y re
taile
rsI
Payr
oll,
Thi
s. P
r. &
Pt.
et e
liH
x 1
939
ratio
/3
Group
IV:
Sale
s of
app
arel
retailers
KPa
yrol
l, T
his.
Pr.
& P
t. et
eli
3 x
1939
rat
io ,/
LG
roup
Vi
Sale
s of
dru
g st
ores
NPa
yrol
l, B
us. P
r. &
Pt.
at a
uL
x19
39ra
tio 2
,N
Gro
up V
I:Sa
les
of e
atin
g &
dr4
n1ng
places
oPa
yrol
l, B
us. P
r. &
Pt.
at e
liN
x 1
939
ratio
2,/
PG
roup
VII
:Sa
les
of f
ood
atore
QP
ayro
ll,T
his.
Pr.
& P
t. et
al
P x
1939
rat
io 2
,,'R
Gro
upVIII:
Sale
sof
filli
ngstations
SPa
yrol
l, B
us. P
r. &
Pt.
at e
liR
x 1
939
ratio
2,,"
TG
roup
U: S
ales
of
gene
ral n
dae.
ret
aile
rsU
Payr
oll,
Bus
. Pr.
& P
t. at
eli
T x
193
9 ra
tio 2
,/V
Gro
up X
iSa
les
of o
ther
ret
aile
rsV
Payr
oll,
Bus
. Pr.
& P
t. at
ml:
V x
l39
ratio
1/I
Gro
up I
I;C
onaw
sererpd.
for
auto
rep
air
aerv
iàea
ZPa
yrol
l, B
us. P
r. &
Pt.
et m
l: X
x1939
ratio
/a
Eat
, tot
al p
ayro
ll, B
us. P
r. &
Pt.
at a
l in
reta
il tr
ade
bT
otal
pay
roll,
all
reta
il tr
ade
aE
at, t
otal
pay
roll,
md.
Cor
p. in
ret
ail t
rade
(IC
212
H +
G +
I +
K +
N +
0+
Q)
Surv
ey o
f C
urre
nt B
usin
ees
Ye.
194
5,p.
19B
min
us A
Stat
.Abstract
1944
, ml.
948
Dx(
4.l)
%)2
1St
at. A
bstr
act 1
944,
Thl
. 948
F x
(5.0
1%)
2/St
at. A
bstr
act 1
91.4
, ml.
948
H x
(6.
73%
) ,/
Stat
. Abs
trac
t 191
.4, T
hl. 9
48
Stat
. Abs
trac
t 194
4, T
hl. 9
48L
x (
7.04
8) L
1St
at. A
bstr
act 1
91,4
, ml.
948
N x
(15
.23%
) 2,
!St
at. A
bstr
act 1
944,
Tbl
. 948
P x
(4.3
9%)/
Sta
t,A
bstr
act 1
944,
ml.
948
R x
(5.
71%
) /
Sta
t.A
bstr
act 1
944,
Thi
. 948
T i
(2.3
3%)
,/St
at. A
bstr
act 1
944,
Th1
. 948
v x
(.75
%)
,JS
urve
yof
Cur
rent
Business
Jo.
1944,
p. 1
0x
(15.
37%
) 2J
E+
G+
I+K
+M
+0+
Q+
S+U
+W
+Z
Sn-v
ey o
f C
urre
nt B
usin
ess
Je.
1945
, p. 1
9bm
inua
a
Indu
stri
al C
orpo
ratio
ns a
nd B
usin
ess.
Pro
prie
tors
and
Par
tner
ship
s at
ml
£stin
ated
Gross
Cas
h Pa
y(m
illio
ns o
f do
llars
)
— S
uppl
enen
tto
Ord
inar
y en
ditu
res
IC 2
13
1232
Sour
ce R
efer
ence
605
2,79
12,
186
-5,
549
228
2,73
513
72,
095
143,
259
167
1,56
3no
3,52
053
610
,165 446
2,82
216
16,
475
151
3,85
922
246
2 712,
370
5,57
53,
205
A B C D H F G H I 3 K L '4 N 0 P Q R S T U V M I z a b C
2/T
his
wei
ght r
atio
is th
e ra
tio o
f es
timat
ed p
ayro
llof
Bus
ines
s Pr
opri
etor
s an
d Pa
rtne
rshi
ps a
t ml t
o re
tail
sale
s in
193
9.For
wei
ght r
atio
sse
e A
pp. A
3 ii
i.2J
Thi
s ra
tio is
the
ratio
of
estim
ated
pay
rolls
of
unin
corp
orat
ed a
uto
repa
irand
serv
ice
stat
ions
in 1
939
(see
App
. A 3
iii)
,to $
462
mill
ion
(sed
line
X).
-
B H P 0 H I J K L
-14 I 0 P Q H S T U V U
11ur
tria
l Cor
pora
tions
aed
Bus
ines
s Po
jnie
tore
and
Par
ther
ehip
s et
al —
Bup
pleá
ent
to O
rdin
ary
endi
ture
eE
stim
ated
Gro
si C
ach
Pay
(sill
ions
of
dofl
are)
104
26 78 361
189
172
617
283
334
450
223
227 93 20 73 339
255 84 221 65 156
1,03
5
1,04
6
Sour
ce R
efer
ence
IC 2
14
D 3 P 0 K I .1 K L H N 0 P a K S T U V U
Aer
ioul
ture
l Ser
vice
s. P
oree
trv
and
Piah
erie
s In
dust
ries
AT
otal
pay
roll,
abo
ve m
isc.
indu
stri
esB
Eat
, pay
roll,
Due
. Pr.
& P
t. et
a].
CE
at, p
ayro
ll, le
d. C
orp.
Six
Serv
ice
Gro
ups
Gro
up I
iPa
yrol
l, ho
tels
& o
ther
1od
gPa
yrol
l, le
d. C
orp.
$1)
x 19
39 r
atio
xvl1
, Bus
. Pr.
& P
t. et
a].
Gro
up I
I:Pa
yrol
l, pe
rson
al s
ervi
oes
ftid
uetr
ies
Payr
oll,
Ted
. Cor
p.:
C x
193
9 ra
tio if
-P
tyxo
ll,B
us. P
r.&
Pt. e
ta].
• G
roup
III
:Pa
yrol
l, bo
a.er
vice
s &
trad
e sc
hool
sPa
yrol
l, le
d. C
orp.
:Jx
l939
ratio
l/Py
roU
, Bus
. Pr.
& P
t. St
a].
Gro
up I
V:
Payr
oll,
mis
c, r
epai
r &
oth
er a
ervi
ce in
dust
ries
Payr
oll,
led.
Cor
p.: X
x 19
39 r
atio
/•
Payr
oll,
Bus
. Pr.
&Pt
. eta
].G
roup
Vs
Payr
oll,
t1on
pic
ture
indu
ntrJ
eePa
yrol
l, ln
d.C
orp.
s ?x
l939
ratb
j/Pa
yrol
l, D
isc.
Pr.
& P
t. et
a].
Gro
up V
T:
P!io
l1, o
ther
sen
t ind
ustr
ies
Payr
oll,
led.
Cor
p.:
S x
1939
rat
io /
Pay
roll,
Bus
.Pr.
& P
t. et
iiE
at, t
otal
pay
roll,
led.
Cor
p., s
ix s
ervi
ce in
dust
ries
Set.
tota
l pay
roll,
Diii
.P
r.&
Pt.,
sir
ser
vice
indu
stri
es
A B C
&ir
vay-
of
Cur
rent
Bus
ines
s Je
. 194
5, p
. 19
Hat
, as
1/4
of A
Am
inus
B
Surv
ey o
f C
urre
nt B
usin
ess
Je. 1
945,
p. 1
9D
x (
52.3
5%)
1/D
min
us K
Surv
ey o
f C
urre
nt B
usin
ess
Je. 1
945,
p. 1
9G
x (
45.8
7%)
/G
min
usH
Surv
ey o
f C
urrc
et B
usin
ess
J0. 1
945,
p. 1
9Jx
(&
9.56
%)
!/Jm
inus
K
Surv
ey o
f C
urre
nt B
usin
ess
Je. 1
945,
p. 1
914
x (
21.5
1%)
1/M
ainu
sH-
Sur
vey
of C
urre
nt B
usic
ess
Je. 1
945,
p. 1
9P
x (7
5.22
%)
VP
mln
usQ
Surv
ey o
f C
urre
nt B
usin
ess
Je. 1
945,
p. 1
9S
x (2
9.41
%)
VS
min
us T
H+
.H+
K+
H+
Q+
T-
P+
1+ L
+ 0
+ R
+ U
a/T
his
veig
ht r
atio
is th
e 19
39 r
atio
of
.stin
et.d
pay
roll
of I
ndus
tria
l Cor
pora
tions
to to
tal p
ayro
ll.Pe
r w
eigh
t rat
ios
see
App
. A3
iv.
Indu
stria
l Cor
pora
tions
and
Bus
ines
s Pr
opri
etor
s an
d Pa
rtne
rshi
ps e
t al —
Sup
plem
ent
to O
rdin
ary
Exp
endi
tsir
eaE
stim
ated
Gro
ss C
ash
Pay
(aS.
lljon
8 of
dol
lars
)
1C21
5
prof
es8i
ona
and
Non
orof
it O
rgan
isat
iong
APa
yrol
l, al
l pro
fe8s
ione
& n
onpr
ofit
org.
1/
1912
1,49
3
Sour
ce R
efer
ence
Surv
eyof
Cur
rent
Bus
ines
s Je
.1945,
p.19
A
Val
ue o
f lb
od lu
rnjs
hed
ploy
ses
BH
ospi
tals
CC
hurc
hes
DW
ater
tranap.
2
BR
at. f
urni
shed
byBua. Pr. & Pt. at alt
0 x 1939 ratio
FEat. furnished
byInd. Corp.
Bating
& d
rlnH
ng p
lace
.Fu
rnis
hed
by B
us. P
r. &
Pt.
et .1
: .0
x 19
39 r
atio
/F
urni
shed
by le
d. C
orp.
Hot
els
& o
ther
lodg
ing.
Furn
ishe
d by
Buø
. Pr.
& P
t. et
alt
3x 1939 ratio
2/F
urni
shed
by h
td. C
orp.
NE
at, t
otal
, val
ue o
f fo
od f
urni
shed
by
Bus
. Pr.
& P
t. et
al
NE
at, t
otal
, val
ue o
f fo
od f
urni
shed
by
md.
Cor
p.
Dir
ecto
rs' P
eas
0D
irec
tors
' fee
s, le
d.C
orp.
Tot
al.
PE
St, g
ross
cash
pay,
Bus
. Pr.
& P
t. et
al (
To
PP 2
01 A
)
QE
at,
gros
s ca
sh p
ay, m
d. C
orp.
(T
o IC
201
A)
File
s, U
. S. D
ept.
Ibid
.m
id.
Ret
, as
D x
(25
%)
D m
inus
!
25,2
24(I
c 21
1 K
+ N
+ Q
) +
(m
c 21
2 B
) +
(Ic2
l4C
+V
)+(1
C21
50)m
inus
/Ino
lude
s pa
yrol
l of
mad
ical
and
oth
er h
ealth
ser
vice
s, le
gal s
ervi
ces,
eng
inee
ring
and
oth
er p
rofe
ssio
nal s
ervi
ces
n.e,
c•, e
duca
tiona
lse
rvic
e. n
.e.c
., re
ligio
us o
rgan
isat
ions
and
non
prof
it or
gani
zatio
ns n
.e.c
.&
/Thi
s i t
he 1
939
ratio
of
estin
eted
sal
es b
y B
usin
ess
Prop
riet
ors
and
Part
ners
hips
to e
stim
ated
tota
l, sa
les.
For
1939
wei
ghtratios
see
13 ii
i.I/
mi.
is th
e 19
39 r
atio
of
estin
ated
pay
roll
of B
usin
ess
Prop
riet
ors
and
Part
ners
hips
to to
tal p
ayro
ll.Fo
r 19
39 w
eigh
t rat
ios
see
App
. A 3
of C
one.
, Nat
. Ino
cen
Div
.52 8 16 4, 1.
2
72 6A4 20 9 11 171 Z7°
File
s, U
. S. D
ept.
of C
one.
, Nat
. Inc
ome
Div
.-
Gx
(94.
20%
)2/
Gai
nusH
—
File
s,U
. S. D
ept.
of C
one.
, Nat
. Inc
ome
Div
.3
x (4
7.6%
) .2
/Jm
inue
-B
+C
+E
+R
+K
• F
+ I
+ L
2dFi
les,
U. S
. Dep
t. of
Cm
., N
at. I
ncom
e D
iv.
7,81
6
B C D B F 0 H I 3 K L N N 0 P Q
(IC
211
: +N
+P) + (IC 212
C)
+(IC
214
8 +N) + (Ic
215
A)
min
us(x
c 21
3 A
+a) +
(IC
215
31)
(IC
213
C+ c) +
(10215K)
iv.
du tr
ialC
orpo
ratio
n.—
Aup
T'1
—.n
tto Ordinary bpen&itu'es
Speat
by I
atrt
al C
orpo
ratio
ns a
s C
o.tr
s(i
li1ar
is o
f do
llai's
exc
ept f
or f
lgui
'es
in p
aren
thes
es)
1C221
Sour
ce R
efer
eso.
.1 B C
Mtg
. cor
p.s
Op.
r. r
ev. /
Cos
t of
oper
&ae
1.e
a/R
atio
,ooit f
oper
. & s
ales
to o
pez.
rev.
(%)
57,1
5942
,846
(74.
%)
Stat
, of
Inco
me
1939
,P
t; 2,
Th1
.3,
Ibid
.'.
BA
Pt.
IA B C
D B p C
Cor
p. s
ales
M. o
oetof
oper
. & s
ales
lad.
Corp.
payr
oll
-
!et.o
oeto
fgoo
dsao
ld(e
xcl.p
syro
tl)
57,.5
942
,846
12,1
8330
,663
•
Surv
ey o
f C
urre
nt S
usin
ess
Apr.
1946
,C
xD
.
IC21
1 K
.
Bai
xceP
p.19
P B P .0
H I J
Who
lesa
le &
ret
ail o
orp.
tO
per.
rev.
/C
ost o
f op
er &
sal
esR
atio
,oost of
oper
. & s
alea
to o
per.
rev,
(%)
42,2
6233
,553
( 79
.5)
.
Sta
t.ofIz
iccm
el93
9,P
t.2,T
hl.3
,Ib
id.
IH
.
Pt.
IH I. i
K L H.
-1.
Cor
p. s
ales
.Adj
.oostofoper.
& s
ale
Bet
, pay
roll
Incl
uded
in c
ost o
f op
er. -
Ret
.oo
.tofg
oods
.old
(ex
ci.payroll)
.,
42,2
6233
,598 75
33,5
23
Surv
ey o
f C
urre
nt B
usim
eae
Apr.-
1946
,Jx
XZ
stitd
, sea
fbo
thot
e f
Lai
nusH
p. .
19
.-
K L x iPublic utilitie.
-
oO
per.
rev.
12,5
23St
at,of
Tho
1939, Pt. 2, ThI. .3,
Pt. I
0P
Cos
tofo
per.
&sa
]as
f -
7,11
7Ib
id.
p
Q-.
Rat
io,
coet
of
oper
.sa
les
to o
per.
rev
, (%
)(5
6.83
)P
0.
q
B-
Cor
p.-
12,5
258w
rvey
ofC
urre
mt B
usin
ess
Apr
. 194
6,p. 19
-B
SAdj.oostotoper.&salea
-7,
118
QXR
.
5
lad.
Corp. payroll
..
4,76
3IC 212 B
T
UE
at,
cost of. goods used in-operation
2,83
1-
Ssi
ras-
90% of t U______________________________
1/Li
nes
2end 3
inthe sourc. cited.
Lin
e H
includes wholesale, retail, and
auto
mob
il. r
epai
r se
rvic
e co
rpor
atio
ns.
a/u
Iin
clud
es li
nes
14 a
nd 1
5 fo
r w
hole
sale
, ret
ail,
and
auto
mob
il• r
epai
r se
rvic
e 'o
orpo
ratio
nsin the
sour
ce c
ited.
Lin
esB
and
P in
clud
elines
14, 1
5, a
nd 1
6 in
the
sour
cecited.
1/L
ine
H is
est
imat
edas
one—
eigh
th o
f th
epayroll of
nono
orpo
rate
eat
ing
and
drin
king
pla
ces
(IC
213
0)
plus
one
-eig
hth
of th
epayroll of
non—
corp
orat
e au
tcm
ebile
rep
air
serv
ices
(IC
213
Z).
j,,/L
ine
U a
smea
that
10
perc
ent o
f co
rpor
ate
y.aa
blic
util
ity p
ayro
ll is
char
ged
to c
apita
l acc
ount
and is
notincluded
in th
eoost
of o
pera
tion.
and
sale
s re
port
ed in
line
S.
.-
Bur
ebes
es o
f G
oods
Coa
tof
Goo
ds. e
tc.Sold
Coa
t of
Goo
ds. e
tc. S
old
(Coi
it.M
inin
g &
ser
vice
indu
strie
s:A
Ope
r. r
ev.
BC
ost o
f op
er. &
sal
es a
/C
Rat
io, c
oat o
f op
er. &
sal
es to
Ope
r. r
ev. (
%)
Min
ing,
serv
ile, a
gr. s
ervi
ce, f
ores
try
& f
ishe
ry in
dust
ries
:C
orp.
sal
esA
dj. c
oat o
f op
er. &
sal
esC
orp.
pay
roll
Rat
•co
stof goods
used
in o
pera
tion
Coa
str.
indu
stry
:O
per.
rev
.C
ost o
f op
er. &
sal
es /
Rat
io,
coat
of
oper
. & s
ales
to o
per.
rev
. (%
)C
orp.
sales
Mj.
cost
ofoper. & sales
md. Corp. payroll
Instalments to subcontractors
Eat, cost of sales
(exc
l.payroll & instalments to subcontractors)
Eat, total cost of goods used, lcd. Corp. (excl. payroll)
Increment
in I
nven
tori
esM
tg. c
orp.
:Q
Inve
ntor
y, c
orp.
sub
aitti
ng b
alan
ce s
heet
sR
Ope
r. r
ev.,
Cor
p. s
uhei
tting
bal
ance
she
ets
2/S
Sale
s,all corp.
TR
atio
, ope
r. r
ev.,
all c
orp.
to c
orp.
sub
aitti
ng b
alan
ce s
heet
sU
Incr
emen
t in
inve
ntor
y, a
ll co
rp.
VE
at,purchases
a/c
Incr
emen
t In
Inve
ntor
yW
hole
sale
& r
etai
l cor
p.:
VIn
vent
ory,
cor
p. s
ubsi
tting
bal
ance
she
ets
-j X
Ope
r. r
ev.,
corp
. sub
aitti
ng b
alan
ce s
heet
s 2/
ISales, all. co?p.
ZRatio, oper. rev., all corp. to corp. submitting balance sheets
aAdj. inventory,
all.
corp
.b
Increment
in a
dj. i
nven
tory
Sour
ce R
eter
enoe
Stat
, of
Income 1939, Pt. 2, Tbl.
3, P
t. I
Ibid
.B
A6,
140
See
footnote 3/
3,710
CxD
2,147
(IC 211 N) + (IC 214 C + V)
1,563
EminuaF
Stat,
ofIncome 1939, Pt. 2, ml. 3,
Pt. I
Ibid.
Survey of Current
Sosi
mes
e A
pr.
1946, p. 19
JxK
IC 2
11 Q
IC 2
02 N
L m
inus
(M
+ N
)(I
C2210+
N+
U)
+ (
Ic 2
22 0
+0)
Stat, of Income 1939 (&
1938
),Pt. 2, Tbl.
4Ib
id.
.S
Sur
vey
of Current Business
Apr
.1946, p. 19
S4R
Increment
In(Q
xT)
Eat,
asU x (60%)
Stat,
ofIncome 1939, Pt.
2, T
bl. 4
Ibid
.Su
rvey
of
Cur
rent
Bus
ines
s A
pr.1946,
p. 1
9I-I
Wx.
ZIn
crem
ent i
n a
Indu
stri
al C
orpo
ratio
ns —
Sup
plem
ent
to O
rdin
ary
pend
Itur
esE
stim
ated
Spe
nt b
yIndustrial Corporations as Customers
(millions
of d
olla
rs e
xcep
t for
fig
ures
in p
aren
thes
es)
IC 2
22
6,23
83,
768
60.4
)
2,20
81,
914
86.7
)2,
208
1,91
473
911
01,
065
69,6
45
10,9
9356
,473
57,1
59(1
.012
)+
801
+ 4
81
5,15
741,172
42,2
62(1
.026
)5,
291
+ 3
20
A B C.
D K F 0 H I 3. K L N N 0 P. Q a S T U V V x I z a b
10,1
9249
,387
50,031
(1.0
1,3)
4,80
837
,314
38,5
75(1
.034
)4,
971
•2/
Lin
es, 2
and
3 in
sou
rce
cite
d,Z
/Lln
ea 1
4 an
d 15
in s
ourc
e ci
ted.
.
3/S
ales
of f
ores
try,
fis
heri
es, m
inin
g, a
nd s
ervi
ce c
orpo
ratio
ns a
s pe
r Su
rvey
of
Cur
rent
Bus
ines
s, A
pril
1946
, p. 1
9, p
lus
IC 1
01 N
.
Indu
stri
al C
orpo
ratio
ns —
Sup
plem
ent
to O
rdin
ary
Fxpe
rtdi
ture
sIC
223
Est
imat
ed S
pent
by
Indu
stri
al C
orpo
ratio
ns a
s C
usto
mer
s(m
illio
ns o
f do
llars
exc
ept f
or f
igur
es in
par
enth
eses
)
Incr
emen
t ix
Inve
ntor
ies
(Con
t,)O
ther
non
fina
ncia
l cor
p.:
AIn
vent
ory,
cor
p. s
utan
ittin
g ba
lanc
e sh
eets
BO
per.
rev
., co
rp. s
ulia
ittin
g ba
lanc
e sh
eets
2.1
CR
atio
, inv
ento
ry to
ope
r. r
ev.,
Cor
p. s
utsa
ittin
g ba
lanc
e sh
eets
(%
)D
Sale
s, a
ll ot
her
nonf
inan
cial
cor
p.K
Adj
. inv
ento
ry,
all.
othe
r no
nfin
anci
al c
orp.
FIn
crer
ient
in in
vent
ory
GEat total purchases a/c increment In inventory, All led. Corp.
Purchases
ofDurable Goods
Purc
hars
of
prod
ucer
s' d
urab
le e
quip
nent
by:
.HA
ll bu
g,;
1Fa
rms
3O
ther
than
Far
esK
lcd,
Cor
n.R
epai
rsL
Cos
t of
repa
irs,
lcd.
Cor
p. (
mci
. lab
or c
osts
)H
Eat
, cos
t of
mat
eria
ls n
.e.c
. a/c
rep
airs
, lcd
. Cor
n,-
For
ceA
ccou
nt M
ater
ials
and
Dea
ler
and
Man
ufac
ture
r In
stal
latio
nsN
-.V
alue
of a
ll pr
ivat
e cc
ci a
rni n
onre
s •
oons
tr. -
Inst
alm
ents
to p
rim
e co
ntra
ctor
s fo
r al
l pri
vate
nonr
es, n
onfa
rm c
c'na
tr. f
rom
Olc
d. C
orp.
.5?
].P
Pus. Pr. & Pt. et a].
294
RB
ks, &
11.
S. t
bn. F
unds
49S
Life
Ins.
Cog
.T
Oth
er I
ns. C
arri
ers
12U
Sec.
& R
, Fir
ms
et a
].1.
32V
Forc
e ac
ct. c
onst
r, &
dea
ler
& a
ir. i
nsta
llatio
na m
di. i
n N
i,U9
VMinus eat, force acot, payroll
md.
in V
476
IE
at, t
otal
for
cescat, materials
&dealer & mfr, installations
643
IE
at, f
orce
acc
t. m
ater
ials
& d
eale
r &
air
, ins
talla
tions
514
pd. b
y le
d. C
orp.
KT
otal
of
abov
e pu
rcha
ses
of g
oods
, lcd
. Cor
p.75
,U9
2./L
ines
2 a
nd 3
inso
urce
cite
d.W
lncl
udea
val
ue o
f ne
i' pr
ivat
e no
nres
iden
tial,
nonf
arm
bui
ldin
g co
nstr
uctio
n, n
ew p
riva
tere
side
ntia
l,nonfara repairs, and
95 p
erce
nt o
fafl. public utility repairs.
5,50
0Su
rvey
ofCurrent
Bus
ines
s A
pr. 1
941.
, p. 1
3694
Net
Fare Income
&Parity Report 1943,
U. S. RAE, p. 27
4,806
Hminus I
3,845
Eat
,as 3 x (80%)
IC 2
02 L
PP 2
02 K
BK
203
BL
I 20
2 3
01 2
03 B
SR2I2F
-
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Eat,
as I
C 2
21 T
x (
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at, a
s V
min
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)
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ic u
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urce
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eren
ce
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91,
526
Stat,
of I
ncom
e 19
39, P
t. 2,
Tbl
. 419
,714
21,2
05Ib
id.
.( 7
.d)
(7.2
)A
B19
,456
20,8
751,
518
1,50
3—
15+
786
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221
B)
+ (
IC 2
22 D
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in K
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222
V+
b)
-i-(
ic 2
23 F
)
•a,
, 0
A B C D K F G H I 3 L H N 0 P R S T -U V I I
987
Stat
, of
Inco
me
1939
, Pt.
2, T
b]..
3, P
t, I
329
Eat
, as
L x
(33
.3%
)
2,18
9C
onst
r.Activity in
the
U, S. Special Release
May 1944, U. S. Dept. of Core.
Indu
stri
al C
orpo
ratio
n8 —
Sup
plen
ent
to O
rdin
ary
Exp
endi
ture
sE
stim
ated
Spe
nt b
y In
dust
rial
Cor
pora
tions
as
Cus
tom
ers
(mill
ions
of
dolla
rs)
IC 2
24
Purc
hase
s of
Ser
vicq
Leg
al s
ervi
ces
Gro
ss in
com
e of
-la
wye
rsE
N e
xpd.
for
lega
l ser
vice
sB
us. e
xpd.
for
lega
l ser
vice
sE
at. l
cd. C
orp.
exp
d. f
or le
gal s
ervi
ces
Bus
, ser
vice
s:O
per.
rev
, of
bus,
ser
vice
cor
p. (
exel
. adv
ertis
ing
corp
.) iI
Eat
.lc
d. C
orp.
exp
d. f
or b
us. s
ervi
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Sale
a co
zani
ssio
ns:
Cos
t of
good
s so
ld b
y w
hole
sale
end
ret
ail c
orp.
Eat
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es c
oma.
pd.
by
lcd.
Cor
p.A
dver
tisin
g ex
pd.:
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ost o
f m
agaz
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th1y
avg
. in
$ M
)K
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t of
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rtis
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n.e.
c., m
d. C
orp.
LRevenue
of.b
road
cast
ing
coa.
NSa
t. m
d. C
orp.
exp
d. f
or r
adio
adv
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c. s
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Gro
ss c
ash
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p.0
Ret
. lcd
. Cor
p. e
xpd.
on
mis
c, s
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Post
al S
ervi
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st O
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ev.,
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exp
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l ser
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Non
HE
exp
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l ser
vice
sS
Eat
. mm
d. C
orp.
exp
d. f
or p
osta
l ser
vice
s&
igin
eeri
ng s
ervi
ces:
1'G
ross
inco
me,
eng
inee
ring
& r
elat
ed p
rofe
ssio
nsU
Set.
lad, Corp.
expd
, for
eng
inee
ring
ser
vice
sR
oyal
ties
cot c
lass
ed a
s re
nts:
VC
ompi
led
reci
pts
of m
otio
n pi
ctur
e pr
oduc
ing
corp
.37
3W
Oth
er d
educ
tions
, all
mfg
. cor
p.7,
049
IE
at. l
cd. C
orp.
exp
d. f
or m
otio
n pi
ctur
e ro
yalti
es31
0I
Eat
. lcd
. Cor
p. e
xpd.
for
oth
er r
oyal
ties
-70
2/t.i
nes
2 an
d 3
in s
ourc
e oi
ted,
V'In
olud
es e
xpen
ditu
res
for
tele
phon
e an
d te
legr
aph
serv
ice,
ass
ocia
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fees
, etc
.
Ic 221 N
Eat,
as 3
/10
of ]
%of
0
Ic 201 A
Est, as
Nx
(2%
)
Stat
, of
Inco
me
1939
, Pt.
2, m
l. 2
Idea
,ml. 3, Pt. I
Eat,
as V
x (
83.3
%)
Eat. asWx(1)
A B C-
D E F G H
22So
urce
Ref
eren
ce
$39
Surv
ey o
f cu
rren
t Bus
ines
s A
ug..
1943
, p. 2
3A
407
Sam
e jo
urna
l Jo.
194
4, p
. 10
B43
2A
inin
usB
C
216
Eat,
as C
x(5
0%)
D
324
Stat
, of
Inco
me
1939
, Pt.
2, T
hl. 2
216
Eat
. as
£ x
(66.
7%)
33,5
23 101
23Su
rvey
of
Cur
rent
Bus
ines
s 19
42, S
uppl
,, p.
30
390
Est
. as3
OxI
231
Stat
, of
Com
auni
catio
ns I
ndus
try
1942
, FC
C, p
. 252
66E
st. a
sLx(
50%
)
25,2
24 504
K P U H I K L N N 0
746
App
. B, W
orks
heet
A—
l-.d
p10
9Su
rvey
of
Cur
rent
Bus
ines
s Je
. 194
4, p
. 10
Q
637
Pmin
usQ
R31
9E
at, a
s R
x (
50%
)S
440
PPU
3WP
220
Est
.asT
X(5
0%)
U V W I 1
Purc
hase
s of
Ser
vice
s(C
ont.f
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els
AB
R p
asse
nger
rev
enue
BP
uils
en g
ross
rev
enue
s-C
Tot
al, R
H+
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isen
pas
seng
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reve
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pd.
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llman
serv
ices
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on H
R e
xpd.
for
BR
. + P
ullm
anse
rvic
esP
md.
Cor
p.. e
xpd.
for
BR
+ P
oThv
u. s
ervi
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418
Stat
. Abs
trac
t 194
3, T
bl. 5
1659
Idem
, Tb]
.. 52
547
?A
+B
288
-S
urve
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s Jo
. 194
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189
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inns
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at,
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137
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.76)
659
1,81
95,
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8)
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PP 2
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App
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orks
heet
s (A
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at,
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x (
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t 194
3, T
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518
Idea
194
4, T
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552
mid
.)(
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Surv
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f C
urre
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usln
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945,
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%)
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A B C D B F a H I J K L N N 0 P Q N S T U V V I I z a b
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orpo
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ns —
Sup
p1nt
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rdin
ary
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iture
sE
stim
ated
Spe
nt b
y In
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rial
Cór
pora
tiona
as
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tom
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icna
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ures
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pare
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ses)
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5,10
225
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ght o
harg
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orp.
pur
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tal
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ovt.
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t. pu
rcha
ses
KT
otal
pur
chas
es o
f
Sour
oe R
efer
ence
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oods
purc
hase
s of
goo
8sof
goo
ds &
ser
vice
sof
goo
dsgo
ods
75,1
1933
,989 l,7 1,
604
110,
712
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RB
frei
ght r
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ue (
Cla
ss I
line
s)K
?tor
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ight
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rier
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per.
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r fr
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atio
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r. r
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o pa
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l, m
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fre
ight
car
rier
sP
Payr
oll,
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or &
wat
er f
reig
ht o
arri
ers
QB
st.
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ue, m
otor
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ater
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ight
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Tot
al f
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enue
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tie, f
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ases
of
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s (%
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p. f
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al f
reig
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reig
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d. C
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. Bus
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& P
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al f
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Let
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al p
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ases
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ices
, Int
l. C
orp.
ZE
at, t
otal
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Int
l. C
orp.
a -
Eat
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issi
ons
--
-
bR
ev. .
st.,
tota
l pur
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es o
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orp.
81,4
55(T
oIC
2A)
-
6,13
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C 2
24 D
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0+
S +
U +
I +
7)
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c225
P+X
)-
75,1
19IC
223
K-
-
203
Eat
, as
3/4
of 1
% o
f (7
+ Z
)!+
Z+
a
Bus
ines
i Pro
prie
tors
and
Par
theh
ips
et a
l —S
uppl
emen
tto
Ord
inar
y !x
pend
iture
sIC
231
-R
atio
sU
sed
inC
ompa
ting
CoB
t of
Goo
ds S
old
by N
onco
rpor
ate
Ret
aile
rs in
193
9(m
illio
ns o
f do
llars
exc
ept f
or f
igur
es I
npa
rent
hese
s)
-S
ourc
eR
efer
ence
AG
roup
Ii
Coa
t of
good
s so
ld, o
orp.
aut
omet
ive
prod
ucts
ret
aile
rs2,
495
Stat
, of
Inco
me
1939
, Pt.
2, m
l. 3,
Pt.
IA
BG
ross
sal
es2,
901
Ibid
.-
BC
Rat
io, c
ost o
f go
ods
sold
to g
ross
sal
es (
%)
C 8
6.0)
A ÷
B-
CD
Gro
up u
sC
ost o
f go
ods
sold
, cor
p. b
ldg.
mat
eria
ls &
har
dwar
e re
taile
rs.
960
Stat
. of
Inco
me
1939
, Pt.
2, m
l. 3,
Pt.
ID
BG
ross
sal
es-
.1,
243
Ibid
.S
BF
Rat
io, c
ost o
f go
ods
sold
to g
ross
sal
es (
%)
(77.
2)D
+E
P0
Gro
up I
II:
Cos
t of
good
s so
ld, c
orp.
fur
nitu
re &
hou
se f
urni
shin
gs38
9St
at, o
f In
com
e 19
39, P
t. 2,
Thl
. 3, P
t I0
HG
ross
sal
es.
687
Ibid
.H
IR
atio
, coa
t of
good
s so
ld to
gro
ss s
ales
(%
)(
56.6
)0
HI
3G
roup
IV
:C
ost o
f go
ods
sold
, cor
p. a
ppar
el r
etai
lers
1,12
1St
at, o
f 'In
com
e 19
39, P
t. 2,
l. 3
, Pt.
I3
KG
ross
sal
es-
1,70
1Ib
id.
KL
Rat
io, c
ost o
f go
ods
sold
to g
ross
sal
es (
%)
-C
65.
9)3
+ K
'L
P4G
roup
V:
Cos
t of
good
s so
ld, c
orp.
dru
gsto
res
420
Stat
, of
Inco
me
1939
, Pt.
2, m
l. 3,
Pt.
I)(
NG
ross
sal
es59
8Ib
id.
N0
Rat
io, c
ost o
f go
ods
sold
to g
ross
sal
es (
%).
.C
70.
2)N
—I
0P
Gro
up V
I:C
ost o
f go
ods
sold
, cor
p. e
atin
g &
dri
nkin
g pl
aces
380
Stat
, of
Inco
me
1939
, Pt.
2, T
h1, 3
, Pt.
IP
QG
ross
sal
es-
656
Ibid
.Q
RR
atio
, cos
tof
good
s so
ld to
gro
ss s
ales
(%
)(5
7.9)
P,Q
-aS
Gro
up V
II:
Coa
t of
good
s so
ld, c
orp.
foo
d st
ores
& p
acka
ge li
quor
sto
res
2,91
9St
at, o
f In
com
e 19
39, P
t. 2,
Thl
. 3, P
t. I
ST
Gro
ss s
ales
3,70
8m
id.
TU
Rat
io,c
osto
fgoo
dsso
ldto
gros
seal
es(%
)'(7
8.7)
S4T
UV
Gro
up V
III:
Coa
t of
good
s so
ld, c
orp.
fill
ing
stat
ions
177
Stat
, of
Inco
me
1939
, Pt.
2, m
l. 3,
Pt.
IV
VG
ross
sal
es23
6Ib
id.
VK
Rat
io, c
ost o
f go
ods
sold
to g
ross
sal
es (
%)
C 7
5,0)
V 4
VI
IG
roup
IX
,C
ost o
f go
ods.
sol
d, c
orp.
gen
. ads
e. r
etai
lers
3,50
0St
at, o
f In
com
e 19
39, P
t. 2,
ml.
3, P
t. I
IH
Gro
ss s
ales
5,19
7Ib
id.
Za
Rat
io, c
ost o
f go
ods
sold
to g
ross
sal
es (
%)
'C
67.
3)1
4 H
.,
ab
Gro
up X
:C
ost o
f go
ods
sold
, oth
er c
orp.
ret
aile
rs'
1,28
1St
at, o
f In
com
e 19
39, P
t. 2,
Tbl
. 3, P
t. I
b0
Gro
sssa
les
''
1,75
6Ib
id.
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Rat
io, c
ost o
f go
ods
sold
to g
ross
sal
ea (
%)
( 72
.9)
b 4
cd
aG
roup
XI:
Cos
t of
good
s so
ld, a
uto
repa
ir s
ervi
ces
94St
at, o
f In
com
e 19
39, P
t. 2,
ml.
3, P
t. I
ef
Gro
ss s
ales
'-13
4m
id.
fg
Rat
io, c
ost o
f go
ods
sold
to g
ross
sal
es (
%)
'C
70.
1)e
f'
g
U,
/
ASS
ET
S, D
BC
1BE
R 3
1C
urro
nci a
nd D
BC
O8t
5A
Acc
ount
s R
ecei
vabl
e
PO
ther
non
fina
ncia
l cor
p. f
iling
sta
tem
ents
with
the
SEC
£'
G'
Non
fina
ncia
l cor
p. w
ith 'a
sset
s un
der
$5
HH
R c
orp.
3/
IA
mer
. Tel
. & T
el. C
o. /
3A
ccts
, rec
bl.,
abov
e sa
mpl
e of
non
fina
ncia
l cor
p.K
Ace
ta. r
eebi
,, no
nfin
anci
al c
orp.
sut
adtti
ng b
alan
ce s
heet
sL
Com
pile
d re
ceip
ts, n
onfi
nanc
ial C
orp.
am
baitt
ing
bala
nce
shee
tsK
Com
pile
d re
ceip
ts, a
ll no
nfin
anci
al c
orp.
NR
atio
of
com
pile
d re
ceip
ts, a
ll co
rp. t
o co
rp. s
utzi
ttisg
bala
nce
ahee
t0
1st e
at. c
oats
. ree
bl.,
All
TM
. Cor
p.P
Rat
io, l
et e
at, o
f ac
cts,
rec
bl. t
o ae
cbls
. of
sam
ple
coe.
QR
ev.
eat.
acct
e. r
eobi
., A
ll le
d. C
orp.
(T
o P&
B I
II b
)L
oans
and
Sec
uriti
esN
nec.
pow
ar C
orp.
S1a
tern
Uni
on T
el. C
o.T
Mfg
. cor
p. f
iling
sta
tem
ents
with
the
SEC
UO
ther
non
fina
ncia
l Cor
p. f
iling
sta
tem
ents
with
the
SEC
9,00
6 / 1
0,00
0U
npab
. Fed
. Baa
. ) (
R&
S 1.
147
Rev
.),
AD
ec. 1
945,
Tbl
s. I
, III
, IV
304
294
Sta
t,of
Ele
ctri
c U
tiliti
es 1
939,
PlC
, p. X
&/ H
99
Pub
licU
tiliti
es 1
940,
)bo
dy, p
. 956
C
2,4.
46 3
/2,
7%S
urve
yof
Ace
r. L
iste
d C
orp.
, 193
9—19
43,
N
Bal
ance
She
et D
ata,
Pt.
II S
EC
, p. 2
499
3/56
2Id
em, P
t. II
I, p
. 2F
7,68
68,
2wE
at. b
ased
on
Stat
, of
Inco
ae 1
939,
Pt.
2,G
Thi
s, 5
& 6
Stat
. of
Rai
lway
s 19
39, I
CC
, pp.
1.1
1, 1
14H
Publ
ic U
tiliti
es 1
940,
Noo
dy, p
. 114
—I
Bth
rul
-3
Stat
, of
Inco
me
1939
, Pt.
2,T
bl. 4
Ibid
.Id
en, 7
W..
3, P
t. 1
X. L
1,34
11,
346
Sour
ce B
ook,
Bur
. of
Inte
rnal
Rev
enue
1314
Publ
ic U
tiliti
es 1
940,
Ibo
dy, p
. 956
3,03
3 3/
3,33
8Su
rvey
of
Am
er. L
iste
d C
orp.
193
9-19
43B
alan
ce S
heet
Dat
a, P
t. II
, SE
C, p
. 249
9 3/
489
Idea
s, P
t. II
I, p
. 2
Indu
stri
al C
orpo
ratio
ns —
Losn
fnnd
e(m
illio
ns o
f do
llars
exc
ept f
or f
igur
es in
par
enth
eses
)
Caa
h, ti
me
& 'd
eman
d de
posi
ts n
onfi
nanc
ial c
orp.
,ex
ol. m
ail f
loat
' (T
o P&
B I
II a
)
BC
lans
A &
Cla
ss 5
ele
ctri
c ut
ilitie
sC
Wes
tern
Uni
on T
el, C
o.N
)g. c
orp.
fili
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tate
men
ts w
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e SE
C
IC 3
01
Sour
ce R
efer
ence
247
103
11,2
9414
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109,
048
111,
412
(lio
n)
274
109
12,1
5415
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121,
597
123,
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017)
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15,9
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311)
16,1
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71
K L K N 0 P B S T.
U
2/Fo
r da
tes
prio
r to
Dec
embe
r 31
, 193
9 th
is it
em w
as e
stim
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by
a m
etho
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mila
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that
use
d fo
r ac
coun
ts r
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vabl
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nes
B th
roug
h 3
belo
w,
splic
ed a
t Dec
embe
r 3l
193
9.2/
Figu
res
for
1935
and
193
6 fr
om S
tatis
tics
of A
mer
ican
Lis
ted
Cor
nora
tions
, Sec
uriti
es a
nd E
xcha
nge
Coa
nais
eion
, spl
iced
at D
ecem
ber
31, 1
937,
or th
e ye
ar 1
937.
.3/
Figu
res
for
date
s an
d ye
ars
prio
r to
, 193
9 fr
om S
tatis
tics
of A
mer
ican
Lis
ted
Cor
nora
tions
, Sec
uriti
es a
nd E
xcha
nge
Cos
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sion
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liced
at
Dec
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r'31,
193
9, o
r th
e ye
ar 1
939,
-
h/E
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des
the
follo
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curi
ties
'and
Exc
hang
e C
onin
issi
on in
dust
ry g
roup
alco
nuer
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dit a
nd f
inan
ce c
ompa
nies
, per
sona
l fin
ance
com
pani
es, m
isce
llane
ous
real
, est
ate
com
pani
es, a
nd o
pera
tors
of
impr
oved
rea
l est
ate
prop
ertie
s,-
5/In
clud
escl
ass
I lin
e—ha
ul r
ailw
ays
end
clas
s I
switc
hing
and
tein
al c
ompa
nies
.-.
/Thi
rin
clud
es c
urre
nt r
ecei
vabl
es o
nly.
7/T
his
is th
e av
erag
e of
rat
ios
of s
econ
d to
the
firs
t est
imat
e fo
r 19
36-1
942.
jpne
and
Sec
uriti
es (
Con
t.)£
Uon
fina
noia
l cor
p. w
ith a
sset
s un
der
$5!
BR
Roo
rp. ]
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Am
er. T
el. &
Tel
. Co,
DL
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& s
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ple
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Loa
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sec
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atio
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corp
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Incr
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loan
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sec
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All
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Cor
p.3
Rev
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sec
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led.
Cor
p.
KR
evea
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ans
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exci
. Fed
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Fed.
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rn
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ILIT
IES,
DE
CIB
ER
31
Acc
ount
s Pa
rabl
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Ele
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ht, p
ower
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t, ga
s, w
ater
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p.
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rn U
nion
Tel
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PW
g. C
orp.
fili
ng s
tate
men
ts w
ith th
e SE
C
QO
ther
non
fina
ncia
l cor
p. f
Ilin
g st
atem
ents
with
the
SEC
/
2.22
-S
ourc
eR
efer
ence
Est
. on
Stat
, of
Inco
me
1939
, Pt.
2, T
bla.
5 &
6St
at, o
f R
ailw
ays
1939
, IC
C, p
. 112
Publ
ic U
tiliti
es 1
91.0
ibod
y, p
. 114
(Ic
301
R+
5+
T+
uS
+ (
IC 3
02A
+ 3
+ C
)-
Sta
t,of
Inc
ome
1939
, Pt.
2, m
l. 4
23,3
5323
,229
3 x
(Ic
301
N)
(1.6
1.5)
(1.6
24)
F ..
D
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emen
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P
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F)
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line
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1,60
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L)
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9095
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, of
Am
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I4st
ed C
orp.
Dec
. 194
1, S
EC
,Pt
. 2, m
l. 1
g8
9Pu
blic
Util
ities
194
0,p.
956
926
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120
Surv
ey o
f A
mer
. Lis
ted
Cor
p. 1
939—
1943
,B
alan
ce S
heet
Dat
a, P
t. II
, SE
C, p
. 324
5 5/
260
Idem
, Pt.
III,
p. 2
uatr
ie.l
Cor
pora
tions
—Lo
azifu
nda
IC 3
((m
illio
ns o
f do
llars
exc
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igur
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par
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3,52
45,
431
333
14,1
9422
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3,37
55,
378
360
14,3
0022
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A B C D H F C H -I 3 I
1/In
clud
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lass
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haul
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Thi
s ie
the
aver
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atio
n of
the
firs
t est
imat
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ans
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secu
ritie
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F) to
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ities
hel
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e sl
e of
non-
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orpo
ratio
ns (
line
D)
from
193
6 to
194
2.3/
$23,
229
mill
ion
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e P
in 1
939)
can
be
cons
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s a
cons
tant
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inte
grat
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The
eff
ect o
f th
is p
roce
dure
is to
mah
e lin
e 3
equa
l to
line
F in
193
9, e
nd to
mak
e th
e an
nual
incr
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ts in
line
J e
qual
to li
ne I
.ke
ara
afte
r 19
39 w
ere
estim
ated
on
the
basi
s of
tIst
ios
of E
lect
ric
Util
ities
in th
e U
nite
d St
ates
, Fed
eral
PO
wer
Com
eiss
ion,
5/Se
e fo
otno
te 3
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IC 3
01.
WSe
e fo
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IC
301
.
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Co.
WC
Meto, p'bl., abovo oot1o
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corp
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222
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Tel
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corp
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S2C
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C.f
CC
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anci
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Cor
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Stat
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cor,
Lio
ted
Cor
p. D
an, 1
941,
8C
C,
Pt. 2
,Tbl
.1 /
Pab
lieC
tiliti
na1940,
8ocj
, p. 9
56Su
rvey
of
Ano
n, L
tote
t Cor
p. 1
9y9.
.194
3,B
alan
ce S
heet
DOte, Pt.. 11,
S, p
. 3Id
eo,
Pt, XIX, p.
32o
t, on
Sta
t, of
Xnc
orr
1939
, Pt.
2, 7
b1a,
5 C, 4
Stat,
of R
ai1e
oio
1939
,ICC0 p.
112
Pobl
ie U
tulit
lee
1940, 8Co7,
p. 1
198
thra
7
366
1,94
73,952
(49,4)
16,165
7,98(6
12,031
11,%
715,674
(76,3)
12,339
12,153
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5 721,
710
3,60
8(4
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6)
15,0
217,191
11,196
11,045
14,724
(73.0)
11,260
11,211
7,74
1
dctat, of 2ai1eto 1939, 100, e. 112, 11.S
Pbblie
Util
itiot
a 19
40 %
oc',
p. 1
19(x
c 30
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0+ P
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(xc
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O)
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XC
301
Stat
, of
Xec
aaa
1939
, Pt,
2, tb
l. 4
Ibid
,
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ight
od o
o, o
f(2 & L)
(9'
8 C P 8 C C I a 8 go 8 U 0 p€9
A'?
3,86
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3,79
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301,
O'7
633
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A in
clud
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affi
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and
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Wle
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nlnuo G) for
1937
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2.—
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1935
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ma
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1937
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1939-1942
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H +
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cannot
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for
1935
-193
6rend eon affected In 1937-1938
e1nooo 10 2renxa
Internal
Bav
enue
cor
pile
tiona
,-
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e fo
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te4/
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302,
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te 3
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301
.,,/2
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0Otn
OtO
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301
,
Indu
stria
l Cor
pora
tions
— L
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mds
IC 3
06(m
illio
ns o
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llars
exce
pt fo
rfi
gure
s in
par
enth
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)-
Sou
rce
Ref
eren
ceO
ther
Deb
ts P
ayab
le (
Con
t.)N
otes
& fu
nded
deb
t pay
bi.:
£N
onfin
anci
alco
rp. s
ubai
tting
bal
ance
she
ets
39,3
2938
,599
Stat
, of
Inco
me
1939
, Pt.
2, T
hi. 4
AB
Al].
nonf
inan
cial
cor
p.39
,990
39,2
56(A
x 1.
022
for
1938
),(A
x 1
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for
1939
)3/
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Rat
io, n
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nded
deb
tpe
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)(
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4 IC
303
UC
Cor
p. to
sam
ple
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al C
orp.
DN
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unde
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ebt p
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., A
llmd. Corp. (To WtB
IIIg)
40,1
2740
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IC 3
03 U
(1.2
1)3/
D.
Paid
-in
CaD
ital.
Proprietorship
equi
tyE
Cla
ssA
& class
Belectric utilities
7,466
746?
Sta
t,of Electric
Util
ities
193
9, P
PC
, p. K
3/
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eleg
raph
cor
p. ,/
232
212
Stat
,of
the
Coi
smun
.toat
ions
Indu
stry
1939
,1
FCC
,p.
165
0Mfg. corp. filing
stat
emen
ts w
ith th
e S
EC
25,1
65 3
/25
,579
Sur
vey
ofAmer.
List
edCorp. 1939—1943,
G
Bal
ance
Shee
t Dat
a,P
.II
, SE
C, p
. 3H
Oth
er n
onfin
anci
al c
orp.
filin
gstatements
with
the
SEC
k!
4,32
? 3/
4,41
?Id
alS,
Pt.
III,
p.3
H
IN
onfi
nanc
ialcorp.
with
ass
ets
unde
r $5
N24
,918
25,0
38E
at,
base
d on
Ste
t. of
Inc
ome
1939
, Pt.
2,I
Tbl
a.5&
6J
Am
er. T
el. &
Tel
. Co.
2,57
62,
593
Publ
ic U
tiliti
es 1
940,
Noo
dy, p
. 114
3
KE
R c
orp.
/11
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10,9
03S
tat,
of R
ailw
ays
1939
, IC
C, p
p. 1
32, 1
14K
LE
at, p
ropr
ieto
rshi
p eq
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,ab
ove
Bem
ple
75,7
6476
,209
B th
rUK
Lof
non
fina
ncia
l_co
rp.
____
____
____
____
____
____
____
____
__
IC 3
01N
for
var
iabl
e w
eigh
t rat
io.
--
3/re
ar-t
o-ye
ar c
hang
esin
line
A (
base
d on
Bur
eau
of I
nter
nal
Rev
enue
data
) ap
pear
to b
e di
stor
ted
by v
ario
ua c
hang
es in
met
hod
ofoo
mpi
latio
n.T
here
fore
the
estim
ate
for
all
Indu
stria
l Cor
pora
tions
(lin
eD
) is
bas
ed o
n a
blow
-up
of th
e se
ries
on
note
s an
dfu
nded
debt
pay
able
for
the
sam
ple
ofno
nfin
anci
al c
orpo
ratio
ns.
The
eon
stan
t wei
ght
ratio
1.21
is th
e av
erag
e of
193
6—19
42 r
atio
s on
line
C.
3/Se
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te3/
toIC
301
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nclu
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-
3/S
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te 3
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01.
k/Se
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te 3
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IC301.
2/Includes
clas
s I
line—
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rai
lway
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d cl
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Isw
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ngan
dte
rmin
al -
com
pani
es.
Indu
stri
al C
orpo
ratio
ns —
Lonf
imda
(millions
of d
olla
rs)
Sour
ce R
efer
ence
+ 9
+ 9
1St
at, o
f E
lect
ric
Util
ities
193
9, Y
PC p
. XII
/0
—1
Stat
. in
the
Coi
mnu
nica
tione
Ind
ustr
y 19
39, F
CC
,p. 1
66+
575
j4/
+ 6
18Su
rvey
of
Am
er. L
iste
d C
orp.
193
9—19
43, B
alan
ce S
heet
Dat
a, P
t. II
, S, p
. 3, &
Dat
a on
Pro
fits
&O
pera
tions
, Pt.
IV, p.
1
—1,
071
..10
2Se
e fo
otno
te /
Ret
.ba
sed
on S
tat,
of I
ncom
e 19
39, P
t. 2,
Thi
s. 5
& 6
ESt
at, o
f R
ailw
ays
1939
, IC
C, p
p. 9
8, 1
03, 1
08, 1
12F
Publ
ic U
tiliti
eB 1
940,
)bo
dy, p
. 113
.G
Ath
ruG
H
IC
umul
ativ
e of
add
ition
s to
sur
plus
.7R
et. p
d.-i
n ca
pita
l, pr
opri
etor
ship
equ
ity m
inus
cum
ulat
ed a
dditi
ons
to s
urpl
us s
ince
193
5K
Rev
. eat
. pd.
-in
capi
tal,
lad.
Cor
p. (
To
B I
II h
)G
over
nmen
t Adv
ance
s en
d Pr
enar
men
tqL
Gov
t. pr
apay
inen
ts to
Tad
. Cor
p. (
To
P&B
III
i)
34 T
otal
Loa
nfun
ds P
arab
le (
To
cB I
II .1
)
2/A
dditi
ons
to surplus represent rsported net
inco
me
min
us c
ash
divi
dend
s.-
&/S
eefo
otno
te 2
/to I
C 3
01.
.
3./S
eefo
otno
te h
ito
IC 3
04.
hise
e fo
otno
te 3
/to
1C 3
01.
.
i/See
.fo
otno
te h
itn
IC 3
01.
/m
this
case
the figure for 1939 (as well as those
for
prie
r ye
ars)
was
der
ived
by
splic
ing
a se
ries
bas
ed o
n da
ta f
rom
Sta
tistic
s of
Am
eric
an L
iste
d' C
oroo
ratio
ns. P
t. 2,
ont
othe series
for
year
s b.
g1nn
4.g
1940
fro
m th
, sou
rce
cite
d ab
ov(l
ine
C).
ZIS
eefootnote
to I
C 3
04.
WIt
was
arb
itrar
ily a
ssd
that
pai
d—in
cap
ital D
ecem
ber
31, 1
936
was
$66
-2/3
billion.
Add
ition
s to
sur
plus
: 3/.
AC
lass
A end class B
elec
tric
util
ities
B'
Tel
egra
phco
rp.3/
CM
fg, c
orp.
fili
ngstatements with
the
SNC
DO
ther
non
fina
ncia
l cor
p.'filing
stat
enen
ts w
ithth
e SE
C3/
KN
onfi
nanc
ial c
orp.
with
ass
ets
unde
r $5
14
FR
Rco
rp. 2
/G
Am
er. T
el.& Tel. Co.
HAdditions
to s
urpl
us, a
bove
Tad. Corp.
— 5
58—
357
-12
—1,
354
+ 1
85—
401
+61
6
A B C D
— 7
39—
123
Calative of
H w
ith1935
set a
t zer
oI
76,5
0376
,332
'(I
C30
4L) minus (IC
305
I)'
3
67,5
0367
,332
'Jm
inu
$9 b
illio
n /
''
K
00
Wor
king
Cap
ital o
f U
. B, C
orp.
,R
elea
se N
o. 7
50,
L1y
l945
'
118,
841
119,
504
(IC
'303
34)
+ (
IC 3
04D) + (IC 305 1+ L)
,
K
Indu
stri
al C
orpo
ratio
ns —
Vai
natio
n 1d
jusn
t(i
ilhio
ns o
fdollars)
IC 3
06
Val
uatio
n lo
sses
Net
AB
ad d
ebt c
harg
es, n
onfi
nanc
ial c
orp.
BEat.
bad
debt
loss
es li
sadefaults
CC
apita
l gai
ns, n
onfi
nanc
ial C
orp.
fili
ngst
atem
ents
with
the
SEC
1/
BC
apita
l los
ses,
nonfinancial
Cor
p. f
iling
stat
emen
te w
ith th
e SE
C /
IN
etcapital
loss
es,nonfinancial
corp
. fili
ngat
aten
onts
with
the
SEC J,/
7E
at,
net v
alua
tion
loss
es o
n lo
ans
& s
ee.,
AU lad. Corp.
0Eat,
alln
et valuation bases (Tb e.B III n)
Sour
ce R
efer
ence
Stat
, of
Inco
me
1939
, Pt.
2, T
bl. 3
,P
t.1
Eat,
asA
x (9
O)
Stat
, of
Amer.
Lis
ted
Cor
p. D
ec. 1
941,
SIC
,Pt
. 2, p
. 6,
lines
91, 9
, 94
&95
181
Ibid
., lin
es 1
06, 1
07,,
110
& il
l
1UD
min
usC
&/
Eat
, as2
xlB+7
ilCap
ital g
ains
(or
1os
ss)
incl
ude
wri
te—
up (
or w
rite
-dow
n) o
f se
curi
ty in
vest
men
ts, p
rofi
t (or
loss
) on
dis
posa
l of
secu
ritie
s, p
rofi
t(o
r lo
ss)
on r
edem
ptio
n or
rea
oqiis
ition
of
debt
, and
pro
fit (
or lo
ss)
on r
etir
emen
t or
reac
quis
ition
of
stoc
k.C
apita
l los
ses
also
incl
ude
unam
ortiz
ed d
ebt d
isco
unt e
xpen
se.
-
&/!e
ars
afte
r 19
39 v
ere
estin
ated
on
the
basi
s of
a s
ampl
e of
ten
indu
stri
es a
s re
port
ed in
the
Surv
ey o
f A
mer
ican
Lis
ted
Cor
nora
ttons
l939
-S
ecur
ities
and
Exc
hang
e C
onai
ssio
n.
UI
396
356
70 222
578
A B C 7 C
Bus
ines
s Pr
opri
etor
s an
d Pa
rthe
rshi
pa a
t ml —
Ord
inar
yR
ecei
pts
PP 1
01(m
iflio
na o
f do
llars
, exc
ept f
or f
igur
es in
par
enth
eses
)
2.38
)19
1,07
7
1,&
7O
2,74
7 71
4.25
)-
116 38 57
Sour
ce R
efer
ence
P4G
Stat
. Abs
trac
t 194
2, f
bi. 1
36(i
ntel
-p. f
or m
issi
ng y
re.)
I.G
JxH
Ret
. as
2/6
of K
2/.
E+
L
58E
et,a
a3/6
otla
/
524,
119,
495
50,3
54(4
2.16
)22
1
IC 1
01 F
XC
101
SPP
102
SQ
5 P
OxR
C D H F G H I 3 K L N N 0 P Q H S
0
A B
800
800
Tec
h. P
aper
NO
. 5, N
at. B
ur. S
oon.
Res
earc
h,19
47, f
bi. 4
1,04
7A
pp. B
, Wor
kshe
ets
(4—
2-C
+ 5
-3-3
) m
inus
(B-i
-A +
C—
i-K
+D
-i-F
+ 8
-2-C
)41
,938
1,4,
054
App
. B, W
orks
hget
a (4
-2-a
+H
-i-a)
min
us(B
-i-Q
+ D
—2—
T +
5—
1—0
+fb
i-10
3L)
BC
AxD
-
Bas
edon
Am
er. F
ound
atio
ns, G
. Sey
bolA
,19
42 (
inte
rp. f
or m
issi
ng y
rs)
Stat
. Abs
trac
t 194
2, f
bi. 1
/j)(i
nter
p. f
or m
issi
ng y
re.)
Cas
h X
nter
eat
AH
oldi
ngs
of F
ed. G
ovt.
debt
by
Bus
. Pr.
& P
t. et
el,
Dec
. 31
Bm
t. pd
. on
Fed.
Gov
t. de
bt h
eld
by th
e pu
blie
CFe
d. G
ovt.
debt
hel
d by
the
publ
ic, D
ec. 3
1
DR
ate
of m
t. pd
. on
Fed.
Gov
t. de
bt h
eld
by th
e Pu
blio
(s)
-H
Eat
. int
. ree
d, b
y B
us. P
r. &
Pt.
et a
l on
Fed.
Gov
t. de
btho
ldin
gs 2
.!F
.R
edow
men
te o
f en
dow
ed f
ound
atio
ns (
ledg
er v
alue
s)
GR
edow
ed f
unds
of
inst
itutio
ns 'o
f hi
gher
edu
catio
n
HT
otal
see
, hel
d by
end
oint
fun
dsI
Red
owse
nt e
arni
ngs,
inst
itutio
ns o
f hi
gher
edu
catio
n
3R
ate
of e
ndow
men
t ear
ning
s '(i
)K
Eat
, ear
ning
s -o
n to
tal e
ndow
ed f
unds
LE
at. m
t. re
ed, b
y en
dow
men
t fun
dsN
Cas
h tn
t. re
ed.,
Bus
. Pr.
& P
t. et
el (
To
F&B
IV
B)
Cas
h D
ivid
enda
''
NH
at. d
iv. r
eed,
by
endo
wm
ent f
unds
(T
o P&
5 IV
A)
Gro
ss R
ent.
0G
ross
ren
ts r
eed,
by
md.
Cor
p.P
Rec
eipt
s fr
om c
usto
mer
s, m
d. C
orp.
QR
ecei
pts
from
cus
tom
ers,
Bus
. Pr.
& P
t. et
ml
HR
atio
, rec
eipt
s fr
om c
usto
mer
s, B
us. P
r. &
Pt.
at m
l to
SE
at, g
ross
ren
ts r
eed.
, Bus
. Pr.
& P
t.. a
t el (
To
P&B
IV
C)
Rec
eint
s fr
om C
usto
irar
mT
0)1'
1SV
BU
S. P
&'
& P
t. t e
l
md.
Cor
p.(%
)
2/Se
curi
ties,
oth
er th
an F
eder
al G
over
mne
nt b
onds
, whi
ch a
re h
eld
by a
per
son
assu
med
to b
e he
ld b
y hi
m 'i
n hi
s la
tter
capa
city
.2/
Thi
s co
mpu
tatio
n as
sum
es th
at e
ndow
men
t fun
d ea
rnin
gs d
eriv
ed f
rom
inte
rest
one—
sixt
h of
line
K.
52,7
60P
P11
5 T
who
is b
oth
a bu
sine
ss p
ropr
ieto
r an
d a
mem
ber
of a
hou
seho
ld a
re
on F
eder
al G
over
unen
t obl
igat
ions
and
incl
uded
in li
ne H
equ
al
Bus
ines
s P
ropr
ieto
rs a
nd P
artn
ersh
ips
etal
—O
rdin
ary
Rec
eipt
s(m
illio
ns o
f do
llars
)PP l
Racpipt from Customers(Cone!
AT
ips
reed
. by
employees
of m
d. C
orp.
& Bus. Pr. &
Pt. e
t al
BE
at. t
ipar
ecd.
by
empl
oyee
s of
led.
Cor
p. /
CE
at, t
ips
mcd
. by
empl
oyee
s of
Bus
. Pr.
& P
t. et
ál
DE
at, e
xcis
e &
sal
es ta
xes
nette
d in
ope
r. r
ev, d
ata
for
Bus
. Pr.
& P
t. at
al
E-T
otal
rec
eipt
s fr
om c
usto
mer
s, B
us.
fr.&
Pt.
etal
(T
o P&
BIV
D)
Inst
alm
ents
to C
ontr
acto
rsp
Bus. Pr.& Pt. —
rece
ipts
ofeontractors (To P&B
IVE
)T
ax R
efun
dsC
Mis
c •
inte
rnal
reve
nue
taxe
s re
fund
ed-
ifE
at, i
nter
nal r
even
ue ta
xes
refu
nded
to B
us. P
r. &
Pt.
et a
l
IE
at, c
usto
ms
dutie
s .r
efun
ded
to B
us. P
r. &
Pt,
et a
lJ
Eat
, pro
cess
ing
taxe
sre
fund
ed to
Bus
. Pr.
& P
t. et
al
KT
otal
taxe
s re
fund
ed to
Bus
. Pr.
& P
t. at
al (
To
P&B
IV-
F)
Insu
ranc
e B
enef
its0
Ben
efits
ree
d, b
y al
l bus
. (ex
el. F
arm
s)P
Eat
.in
s,be
nefi
ts p
d., t
o B
us. P
r. &
Pt.
et a
l by
All
Ins,
Car
rier
s: 0
x 1
939
wei
ght r
atio
/(T
oP&
B I
V G
)
Publ
ic T
huse
P&
ymen
tsPd
. to
priv
ate
char
ities
by:
QIn
d.C
orp.
RB
ks. &
trus
tcos.
SCorp.
Sec.
&R. Firms et al
TEat.
pd. b
y Se
c. &
R. F
irm
s et
al
UP
d.by
}iH-
VT
otal
public
pusp
ose
payments
reed
,by Bus. Pr, & Pt..et
al
(To
cB I
VH)
VT
otal
Ord
inar
y R
ecei
pts
(To
P&B
IV
J)
2.2
.S
ourc
eR
efer
ence
183
PIle
s, U
. S. D
ept.
of
Com
e.]2
2IC
1O1Q
61A
mln
usB
846
Eat
, as
2/3
of (
UI
119
J) —
exci
se&
sal
es ta
xes
pd.
by B
us. P
r. &
Pt.
et-a
l50
,354
(PP
101
T)
+ (
PP 1
02 C
+ D
) m
inus
(PP
]02
F)
E
3,31
3PP
111
P
4IC
1O2C
31/
2 of
II
+ 1
/3 o
f (I
C 1
02 E
) —
refu
nds
of s
ocia
lse
curi
ty ta
xes
5E
at,
as 1
/3 o
f (I
C 1
02 C
) —
cust
omdu
ties
refi
mde
dI
6E
at, a
s 1/
2 of
(IC
102
I)
—re
fund
sof
proc
essi
ng ta
xes
J)4
H+
I+J
K
551
IC].
020
138
Eat
, as
0 x
(25%
) /
A B C D F G
27
Stat,
of I
ncom
e 19
39,Pt. 2, Thl. 3,
Pt. I
2mid.
2Ibid.
4E
st.a
s2xS
950
HH
2O3Q
983
Q+
R+
T+
U i/
55,1
38W0 -P Q R S T II V
fTIpa and
othe
r gr
atui
ties
give
n to
em
ploy
ees
of I
ndus
tria
l Cor
pora
tions
and
Bus
ines
s Pr
opri
etor
s an
d Pa
rtne
rshi
ps e
t al a
re tr
eate
d as
rec
eipt
sfrom
cust
omer
s fo
r th
ese
tran
sact
or g
roup
s.T
he to
tal g
ross
cas
hpay
(exp
endi
ture
s) b
y th
ese
tran
sact
or g
roup
s to
Hou
seho
lds
incl
udes
the
valu
eof
' tip
s an
d ot
her
grat
uitie
s.a/
For
1939
wei
ght r
atio
see
App
. A 3
x.
-
1/P
aym
ents
by
All
Insu
ranc
e C
arri
ers
are
negl
igib
le.
Bus
ines
s Pr
opri
etor
s an
d Pa
rtne
rshi
ps a
t al —
Sup
plem
ent.
to O
rdin
ary
Rec
eipt
sE
stim
ated
Ope
ratin
g R
even
ue(m
illio
ns o
fdollars
exee
pt f
orfigures in
pare
nthe
ses)
Sour
ce R
efer
ence
PP]U
)nuf
actu
rin
Indu
stri
esA B C D K .F G H
Gro
up I
:Fo
od, t
obac
co, p
rint
ing
indu
ètri
es, c
orp.
jgB
us. P
r. &
Pt.
oper
. rev
.:A
x19
39ra
tio /
Gro
upII
:Ir
on &
ste
el, m
achi
nery
,etc
. ind
ustr
ies,
cor
p.B
us. P
r. &
Pt.
oper
. rev
.:C
x 1
939
ratio
]/
Gro
upII
I:T
extil
e, a
ppar
el,lu
mbe
r, e
tc.
industries, corp.
Bus
. Pr.
& P
t. op
er.
rev.:
Kx
1939
rat
io 2
.1E
at,
tota
l ope
r re
v. B
us. P
r. &
Pt.
infg.
indu
stri
esE
at,total oper rev. corp in afg. industries
/sa
les/
15,4
162,
l617
,332 69
424
,411
2,30
45,
160
57,1
59
Surv
ey o
f C
urre
nt B
usin
ess
Apr
.A
x (
14.0
$) 2
/S
urve
yof
Cur
rent
Bus
lnes
B A
pr.
C(4
.00%
)1/
Stn
vey
of C
urre
nt B
usin
essApr.
K X
(9.4
4%)
1/B
+ D
+ F
A +
C +
B
1946
, p. 1
9
1946
, p. 1
9
1946
, p. 1
9
A B C D B F G H
I J K L N
Minima Industries
Min
tn& quarrying
corp
.sales
md.
Corp. payroll
Bus. Pr. & Pt. payroll
Ratio,
payr
oll o
f B
us. P
r. &
Pt. to corp. payroll (%)
Eat
,B
us.Pr. & Pt.
oper
rev
.
S
.
2,73
11,
034
103
(9.
96)
272
Surv
ey o
fCurrent
'Bus
ines
sIC
211 N
IC 211
N
K3
IX L
-
.
I .T K LI
N
PC
onst
ruct
ion
Indu
stri
es
Publ
ic U
tiliti
esQ
Payr
oll o
f B
us. P
r. &
Pt,
RN
o. o
f ac
tive
prop
riet
ors
(x)
SAvg. ann. earnings
in h
ighw
ay tr
snsp
. ind
ustr
y ($
)2/
TEat,
entr
epre
neur
ial i
mpu
tatio
nU
Nonoorp.
labo
r in
com
eimputation
VTotal payroll, listed groupa/
VCorp. payroll, listed groups/
ICorp. sales, listed groups f
IEat. open.
rev.
,Bus. Pr. &Ft.
publ
icutilities
Apr. 1946, p. 19
3,313
PP2H+I
135
182)
(1,412)
256
.391
1,98
31,
848
4,04
085
4
IC 212
C,
Survey of Current Business
Jy.1947 Suppi., p. 39
Ides, Thl. 26
RxS
Q+T
Survey of Current
Bus
ines
sJy. 1947 Suppl., p. 27
VmlnuaQ
Survey of Current Rusine8a Jy.
1947
Suppl., p. 41
xx
(U ÷
W)
P Q R S T U V w I I2.
/Thi
s w
eigh
t rat
io is
the
ratio
of'
estim
ated
o.e
ratim
g re
venu
es o
f B
usin
ess
Prop
riet
ors
and
Part
ners
hips
at al to operating
reve
nues
of
Indu
stri
al C
orpo
ratio
ns in
193
9.For ratios see
App
.P. 3 i.
'-
/Inc1
udes
iron
and
ste
el, n
onfe
rrou
s ne
tals
, mac
hine
ry, n
onau
tonx
tive
tran
spor
tatio
nand autorxbile
indu
stri
es.
2/In
clud
es te
xtile
, app
arel
, lum
ber,
fur
nitu
re, p
aper
, che
mic
al, p
etro
leum
, rub
ber,
leat
her,
sto
ne,
and miscellaneous Industries.
2/Computed
asone—half of average
annu
al e
arni
ngs
inhi
ghw
aypassenger
tran
spor
tatio
n in
dust
ry p
lus
one—
half
of average annual
earn
ings
in
high
way
frei
ght t
rans
port
atio
n in
dust
ry.
Jinc
iude
s lo
cal r
ailw
ays
and
bus
lines
,highway passenger, highway
frei
ght a
nd w
ater
tran
spor
tatio
n, s
ervi
ces
allie
d to
tran
spor
tatio
n,te
leph
one
and
tele
grap
h, r
adio
bro
adca
stin
g, a
nd lo
cal p
ublic
ser
vice
s, n
.e.c
.
Ubo
lesa
le T
ra4
£G
roup
I:
Sale
s of
foo
d &
gro
cery
& f
arm
pro
duct
s w
hole
sale
rsB
Bus
.Ps. &
Pt. o
per.
rev
.:A
x 1
939
ratio
2/
Gro
upII:
Sale
s of
alc
ohol
ic b
ever
age
wholesalers
Bus.
Pr. &
Pt.
oper
. rev
.:0 x
1939
rat
io ]
,/-
Gro
upII
I:.
Sale
sof
clot
hing
& f
urni
shin
gs&
dry
good
swholesalers
Bus
. Pr.
& P
t. op
er.
rev.:
Ex
1939
rat
io 2
/G
roup
IV:
Sale
s of
che
mic
als
& p
aint
s,drugs & rondries
&
toba
cco
2J wholesalers
Bus
. Pr.
& P
t. op
er. r
ev.:
G x
193
9 ra
tio J
Gro
upV
:Sa
les
of h
ardw
are&
elec
tric
al g
oods
wholesalers
Bus
. Pr.
& P
t. op
er.
rev.:
I x
1939
rat
io 2
/-
Gro
upV
I:Sa
les
of
build
ing
equi
paen
t 2/
who
lesa
lers
Bus
. Pr.
& P
t. op
er.
rev.:
K x
193
9 ra
tio 2
/N
Group VII:
Sales of all other wholesalers
NBus. Pr. & Pt: over, rev.:
M x 1939 ratio 2/
QE
at,total oper. rev., Bus. Pr. & Pt. wholesalers
Retail Trade
RGroup I:
Sales of automotive products ref.ailers
SBus. Pr. &
Pt.
oper. rev.:
R x
193
9 ra
tIo
2/T
Group II:
Sales of bu!lIrig materials & haritare retailers
UBus. Pr. & Pt. oper. rev.:
T x 1939 ratIo 2/
VGroup III:
Sales o,f hone furnishings & ewelry reaI1ers
•W
•B
us.
Pr. &-Pt. oper. rev.:
V x 1939 ratio j/
Sour
ce R
efer
eflg
e
Survey of
Cur
rent
Bus
ines
sAug. 1943,
p. 1
8Ax
(19.
02%
)2/
Sur
vey
of
Cur
rent
Business
Aug
. 194
3, p
. 18
C x
(28
.43%
) 2/
Sur
vey
of C
urre
nt B
usin
ess
Aug.
1943
, p. 1
8S
x (i
9'.%
) 2/
3,19
0Su
rvey
of
Cur
rent
Bus
ines
sAug.
1943
, p. 1
8
G x
(30
.97%
)2/
Sur
vey
of C
urre
ntI
x (1
1.32
%)2/
Sur
veyof
Cur
rent
K x
(10
.39%
).i/
Stat, Abstract 19/.4, Thi. 948
R x
(57.
50%
)hI
Sta
t.bs
trac
t 194
4, T
bl. 9
48I
x (5
6.34
%)
2/S
tat,
Abstract 1944, Thi. 948
Vx
(52.51%) 2/
Bus
ines
s Pr
opri
etor
sand Partnershina
et a
l —S
upol
enen
tEstimated
Ope
ratin
gRevenue
çmill
iona
of
dolla
rs)
C D B F
to Ordinary Receipts
PP 1
12
19,544
3,718
1,685
/479
4,83
4965
Business Aug. 1943,
p. 1
8
Bus
ines
sAug. 1943, p. 18
2,474
280
2,542
264
20,997
886
7,580
5,549
3,19
12,735
1,54
12,
095
1,100
Surv
ey o
f C
urre
ntBusiness Aug. 1943,.p.
18H
x (
4.22
%)
2./
B+
DF+H+J+L+N
A B C p B F G H I 3 K L N N Q R S T U V N
2/This weight ratio is the
ratio
of Business Proprietors and, Partherships et al estimated operating revenue to total wholesale
eale
sin 1939.
For
ratio
ssee App. A 3 ii.
The Department of Cossnerce has recently mmdc an extensive revialon of its annual estimates of wholesale sales.
The new estimates exclude manufacturers' sales (sales by manufactuiers' branches and offices, etc.).
These new eatimates are on
a ne
yflo
vsbasis, but they did not become available in time for inclusion in this study.
a/Includes tobacco and products (except leaf).
2/Includes ulumbing and, heating equirinent, lumber and milluork, other building materials and building metal work.
2/This weight ratio is the ratio of Businens Proprietors and Partnerships et.al ertimated operating revenue to total retail sales in 1939.
For ratios see App. A3
lii.
-
Bua
lnea
i Pro
Tw
ieto
re a
d Ps
rtnh
ips
et .1
—8u
pp1i
nt.to
Ord
1na7
Rec
eipt
.E
t12a
td O
pera
ting
Rv.
nue
(ilh
iona
of
dolla
r5 .x
cept
for
figure
inpaientheeea)
PP 1
13
Ret
ail T
rede
(Con
t)A
Group
IV:
Sale
s of
app
arel
ret
aile
rsB
Bua
. Pr.
. &Pt
. opo
r. r
ev.s
Ax
1939
rat
io 1
/C
Gro
up V
sSeleB
ofdrug etoree
DB
ua. P
r.&
Pt.
oper
.rev.: Cx
1939
rftti
o /
Gro
upV
I:Sa
le8
of e
atin
g &
diin
kfng
pla
cea
FB
u.Pr
.&Pt
.ope
r.re
v.s
Exl
939r
atio
J,/
GGroup
Viii
Sale
a of
food
ator
eH.Pr.
& P
t. op
er. r
ev.:
Qx
1939
rft
tlo J
I&
oupVills
Sale
sof
filli
ng 8
tatio
flJ
Bua
. P. &
Pt.
oper
. rev
.: .1
2 19
39 r
atio/
KG
roup
z S
ales
ofgeneral
iitda
e. r
etai
lera
LD
ue. P
r. &
Pt.
oper
. rev
.:K
x 1
939
ratio
J)(
Gro
up I
sSales of other
reta
ilere
N&
za. P
. & P
t. op
er. r
ev.:
Mx
1939
rat1/
0G
roup
XIs
Sale
s of
auto re*1r & service
Bta
tioza
PB
us. P
r. &
Pt.
oper
. rev
.:0x
1939
rat
io J
/Q
Eat.
tota
l ope
r. r
ev. B
us. P
r. &
Pt.
reta
ilera
Gro
sa in
com
e, p
eiaa
za &
sur
geon
sG
roe
income, lavyDra
Payo
11, l
egal
aér
vice
uPa
yrof
l,eg
1ne1
ng&
pro
feai
oza1
eor
viae
e n.
e.c.
Rat
io, p
.yro
ll en
gin.
erin
g ie
rvic
ee to
lega
l aer
vioe
a (%
)E
et,
groe
s iu
, eng
inee
ring
& p
rofe
sBio
nal a
ervi
cee
n.e.
c.C
onm
er e
xpd.
for
oth
er h
ealth
aer
vioe
, rec
reat
iona
l &ed
uc. e
rvic
ea2J
Sa1
eot
organized
activ
ities
, ins
titut
ion8
of
higher
e1ue
atio
nE
at, t
otal
ope
r. r
ev.,
Bus
. Pr.
& P
t. et
al, professions
&no
npro
fit o
rg. (
ezel
. cha
rita
ble
org.
)
Sour
ce R
efer
ence
Sta
t. A
betT
act
194.
4,Tbl.
948
Ax
(49.
25%
)1/
Sta
t.A
bets
ot 1
944,
Tbl. 9h
Cx
Stat
.Abetract 1944, Thi. 948
x(94.2o%)2/
Stat. Abstract 1944w Thi. 948
-0
x ('z
i..85
%)/
Sta
t.A
bstr
act
1944
, ml.
948
lx
(102
.87%
)S
tate
Abs
traó
t19
44,
94R
(22.
08%
) 1/
•St
at. A
batr
act 1
944w
Tbl
. 94B
Kx(
?O.3
8%)/
IC2)
3!o
x(8
8.66
%)
/(P
P11
2S+
u+W
)+(P
Pu3
B+
QV
+ F
+H+
J+
L+
N +
P)
Survey
ofCurrent Buiinee Oct.
1943
,p. 17
Sae
jour
nalLug. 1943, p. 23
Sam
ejournal
Je.1945, p.
19ib
ia.
U.4
TE
8t. a
s S
x V
$urv7 of Current
Bua
inea
Je. 1
944,
pp.1
0,11
,]2
Pofe
apio
nB a
nd N
nrof
ttO
iaxd
.iatio
n
3,25
91,
605
1,56
31,
118
3,52
0
10,165
7,608
2,2
2,90
36,
475
1,43
03,859
2,71
641 39
1
26,9
19 950
839
139
73(5
2.5)
440
1,91 :3
0
R S T U V V I Y z
A B 'C D E F a H I 3 K L M N 0 P.
R S T U V U I
Sta
t. A
batr
act 1
944,
Tbl
, 253
Y3,
850
R+
S+V
+I+
Y
'Th1
8 ve
gbt r
atio
ía th
e1939
ratI
o of
Bus
inea
B P
ropr
ieto
rs a
nd P
attn
ereh
ips
eBtix
lmte
d op
erat
ing
reve
nue
to to
tal r
etai
lsa
les
in 1
939.
Tor
ratio
ssee
App
.A
3iii.
-
a/In
clud
ejco
uBir
exp
endi
ture
a fo
rde
nti8
ts,
oate
opst
hic
pI8i
cift
flB
,ch
lropr
acto
ra,
chir
opod
istB
and
pod
iatr
iata
, pri
vate
dut
y tm
ned
nurs
es,
mie
cella
neou
acu
rativ
e an
d he
ulin
g pr
ofes
sion
s an
d pr
ivat
ely
cont
rolle
d bo
spita
le a
nd a
anita
riun
ia p
lus
cam
p fe
es,club
dues
and
fee
aan
dpr
ivat
eB
OhO
Oltu
ition
.-
/Inte
rpo1
ated
for
mie
a ju
g ye
ar8.
Bus
ines
s Pz
'opr
l.tor
. .ed
itne
chip
s .t
.1 —
toO
rdl.a
arr
Ren
eipt
.E
stim
ated
Ope
ratin
gR
even
ue(m
illio
nsof
llars
euce
pt fo
rfi
gure
s in
par
enth
eses
)
PP11
4
stris
silt
nre1
3srv
iosa
. lO
rest
rv. l
ed F
ishe
ry I
edus
tri.s
£Py
roU
, iao
. ind
ustr
isi
B-
Ret
.op
er. r
ev, B
us. P
r. &
Pt.
mis
c. in
dust
ries
jgsr
vic.
Ind
ustr
y G
rope
CG
roup
Ii
Ret
el &
lodg
ing
.it.
psyr
oil,
Bus
. Pr.
& P
t.le
d. C
orp.
pay
roll
md.
Cor
p. s
ales
PR
atio
, md.
Cor
p. s
ales
to p
ayro
ll (%
)o
let
set.
Bus
. Pr.
& P
t. op
er. r
ev.
HR
evis
ed •
it. H
ue. P
r. &
Pt.
aper
. rev
.:a
x19
39 r
atio
J/
Gro
upII
,Pe
rson
al s
ervi
ces
sat,
payr
oll,
Bus
. Pr.
& P
t.3
Thd
. Cor
p. p
ayro
llK
led.
Cor
p. s
ales
LR
atio
, med
. Cor
p. s
ales
to p
ayro
ll (%
)H
let s
it. T
his.
Pr.
& P
t. op
er. r
ev.
NR
evis
ed s
at, T
his,
Pr.
& P
t. op
er. r
ev.:
H x
193
9 ra
tio /
oG
roup
III:
Bus
. ser
vise
. & tr
ade
soho
ole
cit.
p.yi
oll,
s. P
r. &
Pt.
Ple
d. C
orp.
peT
Dll
-
Qle
d. C
orp.
sal
esH
Rat
io, l
cd. C
orp.
isle
s to
pay
roll
(%)
8le
t sat
. flu
e. P
r. &
Pt.
oper
. rev
.T
Rev
ised
.it.
Bus
. Pr.
& P
t. op
sr. r
ev.:
S x
1939
rat
io 1
/
/Thi
av.
ight
rat
io is
the
ratio
of
Bus
ines
s Pr
opri
etor
s an
d Pa
rtne
rshi
ps' o
pera
ting
reve
nues
to th
s fi
jit e
atin
ate
as g
iven
on
the
prec
edin
g lin
e.Fo
r 19
39 w
eigh
t rat
io, i
ce A
pp. A
3 iv
.
Sour
ce R
efer
ence
C B&
ieln
eas
Apr
. 194
6, p
. 19
H F
Bur
vey
of C
urre
nt B
usin
es. .
1.. 1
945,
p. 1
9ge
t. as
Az
(150
%)
a B15
6
172
189
565
(298
.94)
514
767
334
283
622
(219
.79)
734
1,43
522
7
223
983
(o.B
1)1,
001
825
IC 2
14 F
IC 2
14 H
Surv
ey o
f C
tirre
ntE
+D
CxF
G z
(149
.22%
) /
IC21
4 I
IC 2
14 H
Thi
rrey
of
Cur
rent
K+
JIz
LN
x (
1955
0%)
1/IC
21.4
L
Bua
inea
e A
pr. 1
946,
p. 1
9
a H I J K L H N 0 P Q R B F
1C21
41T
harv
ey o
f C
urre
nt B
usin
ess
Apr
. l94
6 p.
19
Q4
P
OzR
Sx
(82.
42%
)/
as e
stim
ated
on
the
bisi
s of
193
9 C
ensu
s da
ta
U.
Six S
ice Iudustrp
Gro
ups
(Con
t.)A
Gro
up I
V,
Mis
c. r
epai
rs &
other
serv
ices
,es
t.pa
yrol
l Bus
. Pr.
& P
t.B
md.
Cor
p. p
ayro
llC
mci.
Cor
p.sales
PRatio, md.- Corp. sales to payroll (%)
Klet eat... Bus. Pr. & Pt. oper. rev.
FR
evis
edeat. Bus. Pr. & Pt. oper rev.: E x 1939
ratio/
GG
roup
V)&tion pictures, eat, payroll Bus. Pr. & Pt.
Hm
d. C
orp.
pay
roll
IIw
i. C
orp.
sal
es.1
Rat
io,.
md.
Cor
p. s
ales
to p
ayro
ll (%
)1
1st e
st. B
us. P
r &
Pt.
oper
. rev
,L
Rev
ised
eat
. Bus
. Pr.
& P
t. op
er. r
ev.:
K x
193
9 ra
tio /
NG
roup
VI:'
Oth
er a
mus
emen
ts, e
at, p
ayro
ll B
us. P
r. &
Pt.
Nle
d. C
orp.
pay
roll
0m
d. C
orp.
sal
esP
Rat
io, m
d. C
orp.
sal
es to
pay
roll
(%)
Qic
t eat
. Bus
. Pr.
& P
t. op
er. r
ev.
RR
evis
ed-
est.
Bus
. Pr.
& P
t. op
er. r
ev.:
Q x
1939
ratio
/S
-T
otal
oper
. rev
•B
us•
Pr•
&Pt •
insi
x se
rvic
e in
dust
ry g
roup
sT
Eat
.total
oper
. rev
., B
us. P
r. &
Pt.
at a
l (T
o PP
101
T)
i/Thi
s w
eigh
t rat
iois
the
ratio
• or
Bus
ines
s Pr
opri
etor
s ae
d Pa
rtne
rshi
ps o
pera
ting
reve
nue
For
1939
wei
ght r
atio
s se
e A
pp.A
3 iv
...
Buj
neee
Pro
prie
tors
and
Par
tner
ship
s at
al —
Sup
plem
ent
to O
rdin
ary
Rec
eipt
sE
stim
ated
Ope
ratin
g R
even
ue(m
illio
ns o
f do
llars
exc
ept f
or f
igur
es in
par
enth
eses
>
PP 1
15
Sour
ce R
efer
ence
731C
2140
A20
IC'2
14N
B62
(310
.00)
Surv
ey o
f C
urre
nt B
usin
ess
Apr
. 194
6, p
.C
j.B19
C D
225
-A
xDz
463
Ex(
2O4.
87%
)F
841C
214R
G25
51C
2]hQ
H88
3(3
46.2
7)Su
rvey
of
Cur
rent
Bus
ines
s A
pr. 1
946,
p.
IH19
-I j
291
GxJ
'.
K
510
K x
(17
5.26
%)
)/-
L
156
1C2]
.4U
N65 212
(326
.15)
1C21
1,T
Surv
ey o
f C
urre
nt B
usin
ess
Apr.
194.
6. p
.0
-.N
19N 0 p
509
)fxP
Q
656
Q x
(l2
8.88
) /
--
K
4,65
6(P
p114
5+N
+T
)+(P
P11S
F+L
+R
)52
,760
(PPm
G+
M+
P+T
)+(P
P112
Q)+
(PP
113
Q+
Z)+
(pp
114
B)+
(PP
115
3)T
as o
n PP
114
.
Bus
ines
s Pr
opri
etor
s an
d Pa
rtne
rshi
ps e
ta]. —
Ord
inar
ycp
endi
ture
sPP
201
(mill
ions
of
dolla
rs)
AG
rop
Cas
h Pa
r (T
o P&
B X
V x
)A
Cas
h In
tere
stN
et lo
t. pd
. by
All
nonf
inan
cial
bus
.1,
699
B
md.
Cor
p.1,
438
C
Bus
.Pr,
&Pt
,eta
l26
1D
mt.
read
. by
Bus
. Pr.
& P
t..et
al
57T
otal
caø
h tn
t. pd
. by
Bus
. Pr
& P
t. et
al
F
(To
P&B
XV
N)
Gros
Ren
ts0
Total
rent
s pd
. (ad
.fa
rm,
rca.
& g
ovt.)
0
Ren
ts p
d.by
HB
ks. &
U. S
. $,n
. Fun
dsH
IL
ife
Ins.
Cos
. +O
ther
Ins.
Carriers
ISe
c.&
R.Y
ires
etal
jA
Ufi
nanc
ial e
nter
pris
esK
LIn
d, C
orp.
(cx
ci. r
oalti
es p
d. b
y le
d. C
orp.
)L
NB
ua.P
r.&
Pt.e
tal
N
NO
ther
ded
uctio
ns f
rom
com
pile
d, r
ecei
pts,
N
•pr
intin
g &
pub
lishi
ng C
orp.
Eót
.publishers'
roya
lties
pd.
by
Bus
. Pr.
&Pt. et. al
0
Gross
rent
s pd
. byB
us. P
r. &
Pt.
et.1 (To cB IVP)
P
QSm
ent h
r B
aa. P
r. &
Pt.
et a
l as
Cus
táse
rs (
To
.3 I
V Q
)Q
H'
Nat
Par
nnzi
tafo
r R
e1 F
tate
Tra
nsfe
rs (
To
.B I
V a
)H
Inst
Alm
ents
to C
ontr
acto
rsV
alue
of
cons
tr. a
ctiv
ity a
/c:
TNew private mci. constr.
227
Constr. Activity In the U. S.,
May 1944,
U. S
.Dept. of Comm.
UN
ew p
riva
te c
oma,
soc
ial &
ais
o. c
onst
r,V
New
private
relig
ious
, edu
c. &
has
p. o
onat
r.V
Non
res.
non
farm
bui
ldin
g re
pair
s
B C N F
7,816
Sour
ce R
etre
nce
XC215 P
Files,
U. S
. Dep
t. of
Comm., Nat.
Inoo
mo
Div
.(I
D 2
01 0
) m
inus
(IC
101
B)
B m
inus
CPP
1O1M
D+
E
3,34
9Su
rvey
of
Cur
rant
Bus
ines
s M
ar. 1
946,
p. 1
8
47B
K2O
1S59
(LI2
01R
)+(O
I2ol
G)
-23
0SR
2L33
6H
+I+
J1,
705
IC2O
1T1,
308
Gai
nus(
K+
L)
4.38
Stat
, of
Inco
me
1939
, Pt.
2, T
bl. 3
,P
t.I
11.6
Eat
. as
N x
(33.
3%)
1,45
4M
+0
36,6
48PP
21.4
W
100
Eat
., se
e fo
otno
te /
Spe
cial
Rel
ease
ilSel
es o
f re
side
ntia
l pro
pert
y fo
r m
enre
side
ntia
l use
are
est
imat
ed to
hav
e av
erag
ed a
roun
d $2
00 m
illio
n pe
r ye
ar d
urin
g 19
30-1
940
(see
App
. A 3
viii
).Net
annu
al e
xpen
ditu
res
for
acqu
isiti
on o
f re
al e
stat
e by
Bus
ines
sProprietors
and
Part
ners
hips
et a
l wer
e as
sum
ed to
be
one—
half
this
anc
unt.
395
Ibid.
U110
Ibid
.V
427
Ibid
.V
A B C D E F G H I 0 P Q a
Bui
neas
Pro
prie
tors
end
Par
tner
ship
s at
al —
Ord
inar
yE
xpen
ditu
res
(mill
ions
of
dolla
rs)
106
18 99 71 294
4,99
72,098
2,89
9414
708
1,90
6
1,84
342
4 73 58 1543
9
Sour
ce R
efer
ence
Eat
, as
PP 2
01 V
x (
95%
)E
at,
as P
P 20
1T
x (8
%)
Ret
,as
PP 2
01 U
x (
25%
)1,
Eat
,as
PP
201 W x
(16.
7%)
/AtbrnD
-
PP216 K
IC 202 N minus N
F minus G
Eat
, as
1/7
ofH
E+
I
IC U
9 L
IC 2
02 P
—E
at, a
s N
x (
23%
) 3/
IC20
3 D
IC 2
03 H
0 m
inus
PN
+Q
PP 2
02
A C D H F G H I K N N 0 P Q R
-
Inst
alm
ents
to Contractors
(CoT
Eat
.instalments
to p
rim
e co
ntra
ctor
s fr
om B
us. P
r. &
Pt.
et a
l for
:N
ew r
elig
ious
, edu
c. &
hos
p co
nstr
.N
ew m
d, c
onst
r.N
ew c
ome.
, soc
ial &
mis
c. c
onst
r,N
onre
s. n
onfa
rm b
uild
ing
repa
irs
Inst
alm
ents
to p
rim
e co
ntra
ctor
s fr
om B
us. P
r. &
Pt.
et a
lT
otal
inst
alm
ents
to p
rim
e co
ntra
ctor
s fr
om A
U T
rans
acto
rsE
at, v
alue
of
wor
k by
md.
Cor
p.E
at,value
of o
onat
r. w
ork
by B
us. P
r. &
Pt.
/E
at,
inst
alm
ents
to a
ll su
bcon
trac
tors
fro
mB
us. P
r. &
Pt.
prim
e co
ntra
ctor
sK
Tot
al in
stal
men
tsto contractors
from
Bus
. Pr.
& P
t. et
al
(ToB
IVS)
LT
axes
Collected from Bus, Pr, &
Pt. a
t a].
(T
o P&
B I
V T
)In
sura
nce
Premlime
NPremiums pd. by
all b
us. (
exci
. Far
ms)
to p
riva
te c
arri
ers
NE
at. p
rem
ium
s pd
. by
Bus
. Pr,
& P
t, et
al t
o A
ll In
s. C
arri
ers:
N x
193
9 w
eigh
t rat
io 3
/St
ate
wor
kmen
's c
ompe
nsat
ion
fund
s:T
otal
ass
essm
ents
for
sta
te w
orkm
en's
com
pens
atio
nE
at,assessments pd.
by m
d. C
orp.
Est
,assessments pi. by Bus. Pr.
& P
t.at
a].
Total ins, premiums pa.
byB
us.
Pr,
& P
t. et
al(To P&B IV U)
1/T
his
wei
ght r
atio
is th
e ra
tio o
f es
timat
ed in
stal
men
ts to
con
trac
tors
bas
ed o
n ad
just
ed 1
939
Cen
sus
of C
onst
ruct
ion
data
to th
e1939
eati-
mat
es o
f C
onst
ruct
ion
Act
ivity
in th
e U
nite
d St
ates
(Sp
ecia
l Rel
ease
, May
194
4), U
. S. D
epar
taae
nt o
f C
omm
erce
.Fo
r. th
e w
eigh
t rat
ios
see
App
. A 3
ix.
Rev
ised
Com
mer
ce D
epar
then
t est
imat
es o
f co
nstr
uctio
n ac
tivity
bec
ame
avai
labl
e to
o la
te f
or in
clus
ion
in th
is s
tudy
,fV
alue
of
wor
k" m
eans
tota
l ins
talm
ent r
ecei
pts
of c
ontr
acto
rs le
es th
eir
expe
nditu
res
a/c
inst
alm
ents
to o
ther
s.-
3/F
orw
eigh
t rat
ios
see
App
. A 3
x.
--
Bon
ines
s Pr
epri
etor
s an
dP
artn
ersh
ips
et a
]. —
Ord
inaz
Zxp
ditu
res
PP 2
03:
(nill
iona
ofdo
llars
)
Sour
ce R
efer
ence
Pblic
Pur
sose
Paya
enta
Cas
h re
lief
to R
H:
-
AP
Ubl
ic a
ssis
tanc
epa
yaen
te +
VP
A & C
WA
ear
ning
s2,
634
Sta
t. A
bstr
act
1942
,T
bl. 4
51A
8Pu
blic
assi
stan
ce p
syri
ente
+ W
PA&
CW
&ea
rnin
gs1,
263
Rel
ief
in 1
16 U
rban
Are
as, S
ocia
lS
ecur
ityB
oard
,B
in 1
16 c
ities
Spe
cial
Rel
ease
5/12
/42
CP
rivat
e re
lief
in 1
16tie
s11
Thi
d.C
•DE
at. r
elie
f psy
zent
s by
Boa
.P
r. &
Pt. e
t a].
23E
at, a
s A
x (
CB
)—
DIn
stitu
tiona
lco
ntrib
utio
ns to
fore
ign
coun
trie
s43
U. S
. in
the
Wor
ld E
cono
ny, U
. S. D
ept.
of C
oasa
.,H
1943
, App
. B, m
l.I
-
Tot
alpu
blic
pur
pose
pap
aent
a by
Bus
. Pr,
& P
t. et
al
66D
+H
F(T
oRE
IV
Y)
oN
etO
wne
rT
akeo
ute
(To
P&B
Iv
w)
6,16
6PP
215
WC
Tot
al O
rdin
ari E
uend
itaue
(T
o P&
B I
VI)
55,6
21(p
p20
1 A
+ F
+ P
+ Q
+ H
)+
(pp
202
K +
L +
B)
+a
(PP
203
F+ 0
)
'p
Bus
ines
e Pr
opri
etor
s an
d Pa
rthe
rshi
pa e
t al —
Sup
plem
ent
to O
rdin
ary
Exp
endi
ture
sE
stim
ated
Spe
nt b
y B
u3in
es P
ropr
ieto
rs a
nd P
artn
ersh
ips
et a
]. a
s C
usto
mer
s(m
illio
ns o
f- d
olla
rs e
xcep
t for
fig
ures
in p
aren
thes
es)
PP 2
11
a.—
0
Who
lesa
le tr
ade,
Ope
r. r
ev.',
Bus
. 'Pr
. & P
t.G
ross
'sal
es, m
d. C
orp.
30,6
6357
,159
5,16
0(
9.0)
2,76
0
7,58
019
,000
16,6
06(
87.4
)6,
625
3,19
12,
744
1,54
11,
190
1,10
062
31,
605
1,05
81,
118
785
3,31
61,
920
IC 2
21 G
IC 2
21A
PP 1
11 G
048
AxD
Sour
ce R
efer
ence
PP 1
12 Q
Sta
t,of
Inc
ome
1939
, Pt.
2,T
h1.3
, Pt.
Im
id.
ffG
FxI
PP 1
12 S
xx
(IC
231
C)
/P
P11
2 U
N x
(Ic
231
F)
/P
P11
2 U
0 x
(IC
231
I)
/P
P13
BQ
x (
IC 2
3]. L
) 1/
PP
113.
DS
x (I
C 2
31 0
) 2;
!P
P11
3 F
U x
(xc
231
R)
_l/
A B C B E F 0 H I K L K H 0 P Q R S V U V
1oPw
cbaa
es o
f G
oods
Cos
t of
Goo
ds S
old
Nfg
.sA
Cos
tof
goo
ds s
old
by la
d. C
orp.
BO
per.
rev
., m
d. C
orp.
CO
per.
rev
., D
ue •
Pr.
& P
t.D
Rat
io, o
per.
rev
. Bus
. Pr.
& P
t. to
md.
Cor
p. (
%)
IE
at. c
oat,
of g
oods
sol
d by
Bus
. Pr.
& P
t.
P 0 HC
ost o
f go
ads
sold
by
corp
. who
lesa
lers
IR
atio
, cor
p. w
hole
sale
rs, c
oat o
f go
ods
sold
to g
ross
sal
es (
%)
1st.
cost
of
good
s so
ld b
y B
ue. P
r. &
Pt.
Ret
ail t
rade
:I
Gro
up I
iO
per.
rev
. Bus
. Pr.
& P
t., a
utom
etiv
a pr
oduc
ts r
etai
lers
LC
oato
fgoo
dsso
ldK
Gro
up f
lsO
per.
rev
. Bus
. Pr.
& P
t., b
ldg.
mat
eria
ls &
har
dwar
e re
taile
rsN
Cos
tofg
oods
aold
•0
Gro
up li
ltO
per.
rev
. Rue
. Pr.
& P
t., h
ouse
fur
nish
ings
& J
ewel
ry r
etai
lers
P,
Cos
tof
goa
ds s
old
fQ
Gro
upIV
iO
p.r.
rev
. Bus
. Pr.
& P
t.,' a
ppar
el r
etai
lers
HC
oat o
f go
ods
Bol
d'8
Gro
up V
iO
per.
rev
. Bus
. Pr.
& P
t., d
rug
stor
esV
Coa
tofg
oode
.old
'U
Gro
up V
iiO
per.
rev
. Bus
. Pr.
& P
t., e
atin
g &
dri
nkin
g pl
*eea
VC
oat o
f go
ods
sold
ilme
vari
able
wei
ght r
atio
s fr
om I
C 2
31 a
re r
atio
s of
cos
t of
good
s so
ld b
y co
rpor
atio
ns to
cor
pora
te g
ross
sal
es.
Such
a r
atio
was
com
pute
dfr
om d
ata
in S
tatis
tio o
f In
com
e fo
r ea
ch r
etai
l gro
up f
or e
ach
year
, 193
8—19
42.
The
nec
essa
ry d
ata
are
not a
vaila
ble
for
prio
r ye
ars;
hen
ceth
e av
erag
es o
f th
e 19
38 a
nd 1
939
retin
a w
as u
sed
in th
e ea
tfin
atee
for
193
6 'a
nd '1
937.
&/T
he -
wei
ght r
atio
app
lied
to li
ne 0
was
com
pute
d fr
om d
ata
that
do
not i
rclu
de J
ewel
ry r
etai
lers
.' T
he w
eigh
t rat
io a
pplie
d to
line
0 o
nPP
21.
2 w
as 'f
rom
dat
a th
at in
clud
e je
wel
ry r
etai
lra.
Bus
ines
s Pr
opri
etor
s an
d Pa
rthe
rahi
pe a
tal —
Sup
plem
ent
to O
rdin
ary
Exp
endi
ture
sPP
212
Est
imat
ed S
pent
by
Bus
ines
s Pr
opri
etor
s an
d Pa
rtne
rshi
ps e
t el a
s C
usto
sers
(mill
ions
of
doU
ar e
xcep
t for
fig
ures
in p
aren
thes
es)
Sour
ce R
efer
ence
7,60
8PP
113H
A
5,98
71.
x(I
c231 u) 1/
B
2,90
3PP
113J
—C
2,177
C x
(IC
231 I) 2!
D
1,4.30
PPU3L
H
962
Ex(
IC23
1a)1
/F
2,716
PP11
3NG
1,980
C x
(Ic
231 d) 2!
a391
PP11
3P274
1 x
(IC
23]. g)
j
19,7
00(P
P2llL
+N
+P+
R.+
+V
)+K
(PP
232
B +
1)
+ P
+H+
.1)
268
Eat,
as 1
12 (
XC
213
0)
L
36Eat.
an312 (IC 213
z)M
Kminus(L+H)
P
2,83
11C221U
032,523
IC221
0P
854
PP11
1YQ
.
6.8)
Q.P
R
192
OxE
S
1,563
1C2220
T
2,16
7(1c211}()+(1c214C+V)
U
2,668
(Ic2UN)+(1C214B+W)+(IC215A)
V
(124.3)
V4U
-w
1,943
TxW
.I
Cos
t of
Goo
ds S
old
(Con
t.)A
Gro
up. V
II:
Ope
r. r
ev. B
us. P
r. &
Pt.,
foo
d st
oma
BCost
ofgoods sold
CG
roup
VII
I:O
per.
rev
, Bus
. Pr,
& P
t., f
illin
g st
atio
nsD
CO
Bt o
f go
ods
sold
BG
roup
IX
:O
per.
rev
. Bus
. Pr.
& P
t., g
ener
al a
dse.
ret
aile
rsF
Coe
tofg
oods
Bol
dC
Gro
up X
:Oper.
rev.
oth
er r
etai
l Bus
. Pr.
& P
t.H
Coetofgoodaso1df
IG
roup
XI:
Oper.
rev.
Bus
. Pr.
& P
t., a
uto
repair
serv
ices
IC
ost o
fgoods acid
KPr
.]..
eat.
cost
of
good
s so
ld, a
ll re
tail
Bus
. Pr.
& P
t.
LR
at. p
ayro
ll ic
c]..
abov
e, e
atin
g &
dri
nkin
g pl
aces
NE
st. p
ayro
ll m
d, a
bove
, aut
o re
pair
ser
vice
sN
Adj
. eat
, cos
t of
good
s so
ld, r
etai
l Bus
. Pr.
& P
t.Pu
blic
utilities:
0Eat, cost of goods used in operation, corp. public utilities
POper. rev. corp. public utilities
QO
per.
rev.
Bus. Pr. & Pt. public utilities
BRatio, oper. rev. Bus. Pr. & Pt. to corp. oper. rev. (%)
SEat, coat of goods
used
by Bus. Pr. & Pt. public utilities
fining, service,
mis
c, in
dust
ries
.1/
?C
ost o
f go
ods
used
inoperation, corp.
UPa
yrol
l, co
rp.
VPayroll, Bus. Pr. & Pt. at a1/
PR
atio
, pay
roll
Bus
. Pr.
&Pt. et al to corp. (%)
IE
at, c
oat o
fgoods
used
by Bus. Pr. &Pt.
19,3
96
1,/S
ee f
ootn
ote
1,1
toPP
211
.a/
See
foot
note
/to
PP 2
11.
1/In
clud
es a
gric
ultu
ral s
ervi
ces,
fis
hery
and
for
estr
y in
dust
ries
.U
lnol
udes
pay
roll
of n
onpr
ofit
orga
niza
tions
.
Bus
ines
s Pr
opri
etor
s an
d Pa
rtne
rshi
ps a
t a].
—S
uppl
emen
tto
Ord
inar
y R
apen
ditu
rea
Est
isat
ed S
pent
by B
usin
ess
Prop
riet
ors
and
Part
ners
hips
at a
]. a
s C
usto
mer
s(m
illio
ns o
f do
llars
exc
ept f
or f
igur
es in
par
enth
ea.s
)
PP 2
)3
A B C D E -F
3,31
32,
208
1,06
5(
48.2
)1,
596
32, 5
12
+ 4
81(
9O)
+h3
+32
042
,262
34,4
99(8
1.6)
261
—15
(124
.3)
—19 285
4,80
696
1
987
25,2
247,
816
31.0
)10
212
933
,989
PP 1
11 P
IC 2
22 H
IC 2
22.0
C4B
AxD
IC 2
22 V
PP 2
11 D
GzH
IC 2
22 b
IC 2
221
(PP
1)2
Q)
+(P
P 1)
3 Q
)LK 3x
H
O x
PI.
+N
+Q
IC 2
23 J
Eat
. as
S x
(20%
)
IC 2
23L
IC 2
01 A
PP 2
01 A
Eat
, as
1/3
(U z
x)
Eat
,as
IC
223
I m
inus
!P+
R+
T+
!+Z
A.
B C B F a H I 3 K L H N 0 P Q R S T U V w I I z a
1939
Sour
ce R
efer
ence
(PP2
11B
+3)
+ (
PP2]
.2.N
+s+
x)+
(PP2
13E
)
Cos
t of
Goo
ds S
old
(Con
t.C
onst
r.s
Ope
r re
v, B
us. P
r. &
Pt.
Ope
r. r
ev. c
orp.
con
atr.
con
trac
tors
Cos
t of
good
s us
ed b
ycor
p. o
onst
r. c
ontr
acto
rsR
atio
, cor
p. c
ost o
f go
ods
used
to o
per,
rev
. (%
)E
at.
coat
of
good
s us
ed, B
us. P
r. &
Pt.
.con
str.
con
trac
tors
Tot
al c
oat o
f go
ods
used
& *
Iae.
sol
d, B
us. P
r. &
Pt. a
t *1
Incr
emen
t In
Isve
rtto
dee
Wg,
:G
Est
. per
ohas
ea a
/c in
ores
ent I
n In
vent
ory,
led.
Cor
p.H
Rat
io, o
per.
rev
.. B
us. P
r. &
Pt.
to le
d. C
orp.
(%
)I
Ret
. pIt
rc!s
ea s
/c I
ncrn
t in
inve
ntor
y, B
us. P
r. &
Pt.
Wha
lesa
le &
ret
ail t
rade
:3
Eat
, per
chas
es a
/c in
crem
ent i
n in
vent
ory,
led.
Cor
p.K
Sale
s te
d. C
orp
L-
Ope
r.re
v. B
us. P
r. &
Pt.
HR
atio
, ope
r. r
ev. B
us, P
r. &
Pt.
to le
d. C
orp.
(%
)N
Eat
. pu'
chas
ea s
/c in
crem
ent i
n in
vent
ory,
Bus
. Pr.
& P
t.O
ther
indu
stri
es:
0R
et. p
erch
asea
a/c
incr
emen
t in
inve
ntor
y, m
d. C
orp.
P.
:R
atio
, pay
roll
Bus
. Pr.
& P
t. at
ci t
o co
rp. i
n m
inin
g,•
serv
ice
& m
isc.
Ind
ustr
ies
(%)
QR
et. i
*rch
asea
a/c
iflc
rent
in in
vent
ory,
Bus
, Pr.
& P
t, at
ci
RE
at. t
otal
par
ches
ea a
/c I
ncre
nmrt
in I
nven
tory
, Bus
. Pr.
& P
t. at
a].
Purc
haee
aof
Dur
able
Goo
dsS
Purc
hase
s of
pro
duce
rs' d
urab
le g
oods
by
all b
us.,
othe
r th
an F
aiT
Ret
. per
ohas
ea o
f pr
oduc
ers'
dur
able
goo
ds b
y B
us. P
r, &
Pt.
et a
].
USp
ent a
s cu
stom
ers
on r
epai
rs, l
ed. C
orp.
(In
n].,
labo
r co
ats)
VG
ross
cas
h pa
y, le
d.. C
orp.
UG
ross
cas
h pa
y, B
us. P
r &
Pt.
at c
iI
Rat
io, g
ross
cas
hT
his.
Pr.
& P
t. at
ci t
o le
d. C
orp.
(%
)I
Eat
, coa
t of
.ate
rial
s a/
c re
pair
s, B
us..
Pr. &
Pt.
at a
].Z
Ret
, dea
ler
& m
fr. i
nsta
llatio
nsa
Tot
al p
urch
ases
of
good
s, B
us. -
Pr. &
Pt,
at c
i
IC 2
23 F
PP 2
12 V
-gy
haae
sof
Ser
vice
sL
egal
ser
vice
sA
Thi
s. e
qd, f
or le
gal s
ervi
ces
BE
at. B
us. P
r, &
Pt.
atal
expd
. for
lega
l ser
vice
sSu
e, s
ervi
ces
aO
pei'.
rev
. bua
, ser
vice
cor
p.E
at, B
us. P
r. &
Pt.
atal
expd
. for
bug
, ser
vice
sSa
les
cosa
n.a
Gro
ss r
ecei
pts
from
ope
ratio
ns b
y al
l tra
de c
orp.
Gro
ssre
ceip
tsfr
om o
pera
tions
by
all r
etai
l cor
p. 2
/G
ross
rece
ipts
fro
m o
pera
tions
by
all o
ther
trad
e co
rp.
Eat
, com
a. p
ci. b
y B
us. P
r, &
Pt.
atal
Adv
ertis
ing:
Cos
t of
esgs
sine
adv
ertis
ing
(mon
thly
avg
. in
$!f)
Eat
.co
at o
f ad
vert
isin
g n.
e.c.
,Bus.
Pr.
& P
t. et
al
Bustal
serv
icer
'Bus.
expd
. for
postal
serv
ices
Eat
.Bun.
Pr. .
Pt,
etal
expd
. for
postal
serv
ices
Misc,
serv
ices
:M
Payr
oll,
Bus
, Pr.
& P
t. et
al
NE
at. B
us. P
r. &
Pt.
etal
expd
. for
misc, services
Royalties:
0Total
com
pile
d re
ceip
te, m
otio
n pi
ctur
e pr
oduc
ing
corp
.P
Est
. Thi
s•
Pr.
& Pt. et al expd. for motion
pict
ore
roya
lties
Tra
vel r
eim
burs
enan
ts:
Qmd. Corp. expd. for BR +
PU
llman
serv
ices
RE
at..
Pr. &
Pt.
atal expd. for
BR
+ P
ullm
an s
ervi
ces
Frei
ght c
harg
es:
FL b
y B
us. P
r. &
Pt. a
t al
Eat
. tot
al p
urch
ases
of
serv
ices
, Bus
. Pr.
& P
t. at
al
1st.
eat,
tota
l pur
chas
es o
fgoods
& s
ervi
ces,
Bus
. Pr.
& P
t. at
el
Eat,
omis
sion
sR
ev. e
gt. p
urch
ases
ofgoods &
serv
ices
, Bus
. Pr.
& P
t. et
al
(To
PP 2
01 Q
)
Sour
ce R
efer
ence
432
1C22
4C14
4E
st. a
s A
x(3
3.3%
)
IC 2
24 N
Eat
. aaC
x (
33.3
%)
958
Stat
,of Income 1939,
Pt. 2
, Tbl
. 3, P
t. I
339
Ibid
.63
.9E
min
uaF
310
Est
. as
C x
(50%
)
131C
2241
130
Eet
.asl
OxI
637
1C224R
212
Eat.
as K
x(3
3.3%
)
Stnt
.of Income 1939,
Pt.2, Tbl.
2Eat. ss 0 x (16.7%)
125
1C22
5F63
Eat, as Q x
(50%
)
IC225
W
B+D+ H+ J+ L+ N+ P+ R+ S
(PP
213-
a) +
(PP
214
T)
Eat, as 1/4of 1%ot U
Bus
ines
s Pr
opri
etor
s sa
d Pa
rtne
rshi
ps a
t al —
Sup
plem
ent
to. O
rdin
ary
pend
iture
sE
stim
ated
Spent by Business
Prop
riet
ors
and
Part
ners
hpa
atel as Customers
(mill
ions
of
dolla
rs)
C D K F G H
PP 2
14
324
108
S T U V U
7,81
613
7
373 62
PP 201 A
Eat. as M x (1.75%)
A B C D S F G H I 3 K U N 0 P Q H S I U V V
1,40
1
2,56?
36,5
56 92
2/L
Ine
3 in
source cited,
—/T
hie
incl
udes
expenditures for telephone and telegraph
serv
ices
,association dues, etc.
36,6
48U
+V
Bua
inee
s Pt
opri
etor
a an
d Pa
rtne
rshi
ps e
t al —
Sup
plem
ent
to O
rdin
ary
Exp
endi
ture
sN
et O
wne
r T
akeo
uta
(mill
ions
of
dolla
rs)
PP 2
15
Gen
ital F
bria
atio
n (c
xci.
nGap
rofi
t org
.)£
GN
P pu
rcha
ses,
Bun
. Pr.
& P
t.B
Eat
, dep
reci
atio
n, B
Un.
Pt.
& P
t.-
CC
apita
l out
leys
cha
rged
to c
urre
nt e
xpen
se, a
ll bu
s.b
Acc
iden
tal d
amag
e to
fix
ed c
apita
l, al
l bun
.S
Eat
, 'an
uunt
s un
der
C &
D a
bove
for
Bun
.' Pr
. & P
t.P
Eat
, cap
ital f
orm
atio
n ch
arge
d to
cap
ital a
ccts
.,B
us. P
r. &
Pt.
Net
J4,n
yM
vano
edor
Ret
urne
d hr
Dun
. Pr.
& P
t,T
otal
loan
fllm
de r
ecbl
.T
otal
loan
fund
a p.
ybl.
Net
loan
Am
d ba
lanc
e p.
ybl.
Incr
emen
t in
net l
oanf
und
bala
nce
pybl
.V
alua
tion
loss
es (
mat
))b
ney
obta
ined
lees
ney
adv
ance
d, B
un. P
r. &
Pt.
at m
lN
et 'n
oney
adv
ance
d or
ret
urne
d, B
un. P
r. &
Pt.
et a
lI
Cur
renc
y &
dep
osits
of
eado
wee
nt' f
unde
0L
oans
& s
o. h
eld
by e
ndow
men
t fun
dsP
Tot
al c
urre
ncy
& d
epos
its, l
oans
&se
e. o
f en
dow
men
t fun
dsQ
Incr
emen
tin
tota
l cur
renc
y &
dep
oeitn
,lo
ans
& e
ec. o
f en
dow
ed f
unds
RE
at, n
et m
eney
adv
ance
d or
ret
urne
d by
Bun
. Pr.
& P
t.(c
xci.
nonp
rofi
t org
.)N
et O
wne
r T
seou
ta. B
un. P
r.&
Pt.
SC
apita
l for
mat
ion
char
ged
to a
spi'
l aco
te. p
lus
net n
oney
adv
ance
d, T
hin.
Fr.
& P
t.T
Inco
me
of n
onoo
rp. e
nter
pris
es m
inus
foo
d w
ithdr
awn
by n
onfe
rm p
ropr
ieto
rs (
.xcl
. Far
me
& f
inan
ce)
Inve
ntor
y va
luat
ion
adju
stoe
nt, n
oncO
rp e
nter
pris
es£d
j. in
com
e of
non
corp
. ent
erpr
ines
1,39
485
079
722
220
4'3
40
(GIP
108
A +
P +
95%
of L
) ni
nun
(GN
P 10
5 B
)Su
rvey
of
Cur
rent
Bus
ines
s Jy
. 194
7 Su
ppl.,
ml.
Idem
, ml.
4Ib
id.
Est
. as
1/5
of (
C +
D)
Am
inua
(B+
E)
6'
j B C D E F
14,8
6815
,464
PP3O
1Q11
,816
-12
,942
PP 3
02' K
—3,
052
—2,
522
H m
inus
0
Survey of
Cur
rent
Bus
ines
s Jy
.19
47Su
ppl.
Tbl
.16
minus
(ml.
30 lI
ne 3
nln
uaTbl. 39 line 2$
Idem
Thl. 22
Sour
ce R
efer
ence
971
2,73
33,
704
530
Incr
emen
t in
I20
0,PP
302
L33
0Jm
inus
l-3
30'
Min
usL
9/,,3
PP3O
1G2,
747
PP 3
01 1
3,69
01+
0
—14
Incr
emen
t in
P
-316
Mm
inus
Q
24E
at,a
aF+
R
•0 H 3 K L N N 0 P Q B S T U V
6,35
6
—16
66,
190
Eat, net owner takeouts, This. Pr. & Pt.' (To PP
203
0)6,
166
,
VE
lnus
S__
____
____
____
___-
'
Bus
ines
s Pr
opri
etor
s an
d Pa
rtne
rshi
p. e
t a].
—S
uppl
emen
tto
Ord
inar
y E
xpen
ditu
res
Inst
alm
ents
to C
ontr
acto
rs(m
illio
ns o
f do
llars
)
Inet
slae
nts
to p
rine
con
trac
tore
fro
a:
Sour
ce R
efer
ence
PP 2
16
Faim
em
d. C
orp.
Bus
. Pr.
& P
t. et
a].
Fed,
Gov
t.St
. & L
. Gov
t.B
ks. &
U. S
. )4n
. Fun
dsL
ife
Ins.
Cos
,O
ther
Ins
. Car
rier
sSe
c. &
R. F
uss
at a
].
1,03
9 58 571
294
324
1,52
5 49 12
1,11
3
4,99
7
RH
20]
. PA
G 2
01 F
IC 2
02 L
PP 2
CQ
HA
pp. B
., W
orka
heet
E.-
6-X
1G20
4RB
K 2
03 B
LI
202
J0!
203
BSR
202
K
Ath
ru3
KK
Lu
Tra
neac
tors
(T
o PP
202
F)
A B C D B F 0 B I 3
.4
Bus
ines
s Pr
opri
etor
s an
d R
erth
ersb
ips
at a
.]. —
Loan
ftmda
-P
P301
(miflions
ofdo
llars
exc
ept
for
figur
es in
par
enth
eses
)-
222
___
Mem
o R
&S
114
7,T
bla.
I, III, IV /
Eat
,as
Ax
(88%
)2/
l4em
oR&S 1147, Phi. I /
Thi
d.,
eat. as .],/2 of total
floa
t,all noncorp.
bus.
Ibid
.D
.BC
x(1
00%
mIn
us F
)B
+G
____
____
____
____
____
____
____
____
____
____
____
___
14,8
6815
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LT
hBIL
1T, D
EC
flL
31
R A
coou
nts
Pa.y
ab]s
(T
o cB
IV
f)
-4,
811
5,24
2PP
313
1K
Oth
er D
ebts
Pay
able
-
SV
alue
of coma, real estate m-tga. owed, all noncorp.
bus.
4,09
7.3,958-
Surv
eyof
Cur
rent
Bus
ines
s Se
pt. 1
946,
p. 17
SP
Eat, value of
o, r
eal e
stat
e m
tgs.
owed
by B
us.
Pr.
-&Pt
. at
a].
3,27
8.
3,16
6Eat, as
S x
(80%
)/
P
i/This
cita
tion
refe
rs to
an
unpu
blis
hed
Federal Reserve memorindum (R& 1147
Rev
ised
) is
sued
De.
cèm
ber
1945
.&
/Exc
lude
s no
npro
fit
orga
niza
tions
.2/
The
cons
tant
weight
ratio
use
d on
line
B f
orD
ecem
ber
31, 1
939
through
1942
is
the
ratio
of e
stim
ated
nonfinancial
nonc
orpo
rate
dem
and
depo
sits
to
all -
nonc
orpo
rate
business
dem
and
deposits
on J
uly
31,,
191,
4 (F
eder
alReserve
Bul
letin
,November 1944,- p. .
1072
).Fo
r da
tes
befo
re D
ecem
ber
31,
1939
, lin
e B
was
est
imat
ed b
y (1
) ap
plyi
ng th
e ra
tio o
f no
ncor
pora
te to
cor
pora
te o
pera
ting
reve
nue,
by
indu
stry
gro
up, t
o th
e cu
rren
cy a
ndde
posi
t hol
ding
sof
Indu
stri
alCorporations
Dec
embe
r 31
, 193
5 th
roug
h D
ecem
ber
31, 1
939,
and
(2)
spl
icin
g th
ó tw
o se
ries
at t
he e
nd o
f 19
39.
UE
stiin
ated
for
dat
esbefore
1939
by
adju
stin
g re
ceip
ts f
rom
con
trib
utio
ns b
y th
e 19
39 r
atio
of
rece
iptB
to c
ash
hold
ings
.,P
?he
1939
rat
io w
as a
pplie
d in
all
earl
ier-
year
s..
-
fr'R
oldi
ngs
of F
eder
al G
over
nmen
tobligations
by n
onpr
ofit
orga
niza
tions
for
dat
es b
efor
eDecember
31, 1
939
wer
e as
sum
ed to
be
the
sam
e as
at t
heen
d of
193
9.2/
The
dis
trib
utio
n of
por
tfol
ios
of e
ndow
men
t fun
dsis
base
d on
an
anal
ysis
of
a sa
mpl
eof
the
endo
wm
ents
for
whi
ch in
vest
men
t dat
a w
ere
repo
rted
in C
. Sey
bold
's A
mer
ican
Fou
ndat
ions
, 194
2.-
2/S
eeA
pp. A
3 v
i.
Sour
ce R
efer
ence
5,300
4,400
..
4,66
4i,o,oil
i,ooo 20
0
ASSETS, DECEMBER31
Correnc_v
and
Dem
osits
AA
ll no
noor
p. b
us, c
ash,
tim
a& demand deposits
(aro
l, fl
oat)
BB
us. P
r. &
Pt.
2/ c
ash,
tiie
s &
eman
d de
posi
tsC
Non
prof
it or
g. d
nddeposits (inol. mAil float)
DE
st. m
ail f
loat
or
dem
and
deposits,
all n
onoo
rp. b
us. a
'
KTotal
dem
and
depo
sits
all
nono
orp.
bus
. 2/ (
mci
. mai
l flo
at)
FR
atio
, mai
l flo
at to
tota
l dem
and
depo
sits
, all
nonc
crp.
bus
. (%
GN
onpr
ofit
org.
dem
and
depo
sits
(ex
el. m
ail f
loat
)H
Tot
alcurrency & deposits, Bus. Pr. & Pt. at
al (
To
].B
IV
a)
I A
ccou
nts
Rec
eiva
ble
(To
P&B
IV
b)
J Fe
d.Govt.
Deb
t Hel
d hr
Bus.
Pr. &
Pt.
at a
l (T
o P&
B I
V o
)O
ther
Loa
ns a
nd S
ecur
ities
-K
Total
eec.
hel
d by
end
owm
ent f
unds
LN
onpr
ofit
org.
hol
ding
s of
Fed
. Gov
t. ob
ligat
ions
.H
Eat.
tota
l oth
er lo
ans
&sec.
held
by
endo
wm
ent f
unds
(T
o cB
NE
at. m
tgs.
hel
d by
end
owm
ent f
unds
0E
at,stock
held
byendowment
fund
sP
Eat
, oth
er h
oldi
ngs
of e
ndow
men
t fun
dsQ
Tot
al L
oenf
unda
Rec
eiva
ble
hr B
us. P
r. &
Pt.
at a
l (T
o B
iT o
)
C 5
.7)
2/m
5,37
1
3,50
05.
7)94
35,
607
A B C D B F 0 H I6,
Y78
6,72
4PP
313
I80
080
0T
ech.
Paper
No,
5, N
at. B
ur. B
oon.
Res
earc
h,J
1947
,ml. 4
-
2,73
32,74?
PP 101 H
.-
.K
414 /
414
Memo R&S 1147, Tbl. II /
-L
IV d)
2,319
2,33
3Kminus L-
-14
116
116
Eat, as
Nx (5%)
2/1,
391.
1,400
Eat. as N x
(60%
)2/
082
281
7Eat. as M x (35%)
2/P
H+I+J+M
Q
Bus
ines
s Pr
opri
etor
s an
d Pr
tner
ehip
s at
al —
Loan
fuhd
san
d V
alua
tion
idju
athe
ntPP
302
(mill
ions
ofdollars except ror
figu
res
in p
aren
thes
es)
Sour
ce R
efer
ence
Oth
er D
ebts
Par
able
(C
ont.)
BB
onds
, not
ea &
mtg
e. p
aybl
. (m
atur
ity le
ssthe
1 yr.),
5,155
Stat
. of
Inco
me
1939
, Pt.
2, T
hi. 4
3no
nfin
anci
al C
orp.
aba
ittin
g ba
lanc
e sh
eets
CRatio, total compiled receipts, all
corp
.to corp.
(1.022)
(1.0
17)
IC 301 1
C
auba
ittin
g ba
lanc
esheets
.D
Com
a. lo
ans
& o
pen
mar
ket p
aper
hel
d by
Bk.
&5,
632
6,33
3B
anki
ng &
1ne
tary
Sta
t., T
hi. 4
0D
U. S
. Jn.
Fun
dsK
Shor
t—te
rm d
ebt,
nonf
inan
cial
Cor
p.5,
419
5,24
3B
z C
K
FE
at, s
hort
—te
rm d
ebt t
o bk
a. b
y no
nfin
anci
al c
orp.
2,71
02,
621
K x
(50
%)
F
GE
st,
short—term
debt
to E
ke. &
U, S
.Fu
nds
by2,
922
3,71
2.D
min
us F
0B
us. P
r. &
Pt.
at a
lH
Notes & aects. reobi. of credit & loan corp. +
4,02
34,
108
SR 3
02 H
N
ins.
agents, realty corp. & lessors
IEat. motes
pafr
b1. t
ononbka. by Bus. Pr. & Pt. at al
805
822
Eat, as H x
(20%
)I
3T
otal
oth
er d
ebts
paybl.
by B
us. P
r,&
Pt.
at a
l7,
005
7,70
0(P
P 30
1 T
) +
(PP
3020
+ I
)(T
0P&
BIV
g)-
KTotal Loanfunde Payable by
Bus
,Pr. & Pt. at *1 (To MB IV
h)U
,816
12,9
42(P
P 30
1 5)
+ (
PP 3
02 J
)K
LV
alua
tion
Losses,
Net
(T
o P&
B I
V k
)20
0A
rbitr
ary
eat,
for all yra.;
Lno
sat
isfa
ctor
ydata
auai
labl
e
a. -I
Res
inee
s Pr
oirI
etor
s. s
ad P
arth
ersh
ips
et ii
-S
oppi
anen
tto
Lo.
nf.
Est
isat
sd A
ccou
nts
Rec
eiva
ble
sad
Acc
ount
s Pa
yabl
e(m
illio
ns o
f do
llars
em
eept
for
fig
ures
in p
aren
thes
es)
Sour
ce R
efer
ence
FF31
1
Wg.
s£
Met
s. r
eobi
., co
rp. .
uhei
tting
bal
ance
she
ets
BL
oot..
piy
bl.,
corp
. suh
eltti
ng b
alan
ce s
heet
sC
Ope
r. r
ev..,
cor
p. 2
,'P
Op.
r. r
ev.,
Bus
.P
r.&
Pt.
HR
atio
. ope
r. r
ev. -
Bus
.Pr
. & P
t. to
cor
p. (
5)P
Ret
. sea
ts. r
ecU
., B
us.
Pr.
&Pt
.0
Ret
. sea
ts. p
aybi
., B
us. P
r. &
Pt,
Who
lesa
l, tr
ades
a]
0L
oots
. reo
bi.,
corp
. sub
mitt
ing
bala
nce
shee
tsP
Met
s. p
sybi
., co
rp. .
lbm
ittin
g ba
lanc
e sh
eets
QO
per.
rev.
, cor
p. 2
,1R
Ope
r. r
ev.,
Bus
. Pr.
& P
t.S
-R
atio
,op
er. r
ev. B
us. P
r. &
Pt.
to c
orp.
(5)
PR
at. s
ects
. rec
bl.,
Bus
. Pr.
& P
t.U
Eat
. soo
t.. p
aybi
., B
us. P
r. &
Pt.
Publ
ic u
tiliti
ess
VLo
ot..
recb
l., c
orp.
sub
mitt
ing
bala
nce
shee
tsV
Met
e.ps
ybl.,
cor
p. q
ubm
ittin
g ba
lanc
e sh
eet.
IO
per.
rsv
.,.co
rp. 2
1I
Ope
r. r
ev.,
Bus
. Pr.
& P
t.H
Rat
io,o
per.
rev.
Bua
.Pr.
&Pt
.tooo
rp.(
%)
•R
et. a
esti.
reo
bi.,
Bul
. Pr,
& P
t.b
Ret
. soo
t.. p
aybi
., B
us. P
r. &
Pt.
Stat
, of
TnA
019
39, P
t. 2,
Thi
. 4m
id.
Ibid
.PP
111
0P_
CE
at, a
s £
xH
.
Eat
, as
B x
I LI
Sta
t,of
Tho
c.s
1939
, Pt.
2, T
h]..
4m
id.
Ibid
.pp
fl•3
Q
Eat
,as
H x
Lle
t. as
I x
LU
Sta
t,of
Ino
193
9, P
t, 2,
Tbl
. 4Ib
id.
Ibid
.P
P11
2Q
14Q
Ret
.as
0 x
SE
at, a
s Px
S U
Sta
t,of
Iná
oan
1939
, Pt,
2, P
hi. 4
Ibid
.Ib
id.
PP
1111
I_I
-
Eat
,as
V x
ZR
et, a
s V
x H
U
Ret
ail t
rade
s a]
HM
ats.
reo
bl.,
corp
. sub
mitt
ing
1"ce
she
ets
/I
Mot
e. p
aybi
., co
rp. s
ubm
ittin
g be
l"oe
she
et. /
IO
per.
rev
., ca
rp.
IO
per.
rev
., B
us. P
r. &
Pt.
LR
atio
, ope
r. r
ev, B
us. P
r. &
Pt.
to c
orp.
(5)
KH
at.
sect
s. r
eobl
., B
us. P
r. &
Pt.
IE
at,
sect
s. p
sybi
., B
us.
Pr.
& P
t.
6,76
24,
19'?
49,3
874,
'1'7
29.
7)65
640
7
1,33
988
211
,512
24,5
41(2
13.2
)2,
855
1,88
0
2,25
91,
618
17,0
316,
815
40.0
)90
464
7
1,42
21,
887
11,5
17 6.9) 98 130
.7,4
284,
830
5647
35,
160
9.')
676
440
1,41
3
13,3
2226
,919
(202
.1)
2,85
61,
958
2,39
51,
811
19,1
117,
580
39.8
)96
073
5
1,39
31,
856
12,3
84 854
(6.
9) 97 130
£ 3 C P. I. F a' H I I I L K I 0 P Q a S..
P U.
V I a I- H a b
2,/L
ines
20
and
21 in
the
sour
ce c
ited.
3/In
app
lyin
g th
e va
riab
le w
eigh
t rat
io m
etho
d fo
r D
ecem
ber
31, 1
935
thro
ugh
1937
uho
lesa
l. an
d re
tail
trad
e w
ere
com
bine
d as
a s
Acg
la ts
ans.
etor
/gyr
1iiA
&.
gene
ral
aerh
an1s
e, d
ry g
oods
, dep
erbs
ot, s
ad 1
imite
d—va
riet
y st
ore
corp
orat
ions
, and
nei
l—or
der
hous
es.
h/B
etw
een
1936
and
193
7 th
e ta
x re
turn
def
initi
on o
f ps
yabl
es w
as c
hang
ed a
nd a
rou
gh s
plic
e w
as n
eàea
sary
to c
orre
ct f
or th
is c
haiig
s.
Oonstrs
AA
oot.
recbl.,
corp
. aut
ittin
g ba
lanc
e ih
eets
BA
ccta
. p.y
bl.,
corp
. aub
aitti
ng b
s]an
ee a
heet
aC
Ope
r. r
ev.,
oorp
. ,/
DO
pev.
rev., Bus. Ps. & Pt.
KR
atio
,oper. rev.
Bus
. Pr.
& P
t. to
cor
p. (
)P
Kit.
acc
ts. r
eobi
., B
us, P
r. &
Pt.
oE
at, a
aot.
payb
i., B
us. P
r. &
Pt.
)nim
g &
als
o. in
dust
ries
: fN
Aec
ti. r
ecbl
., co
rp. s
ubai
tting
bal
ance
she
ets
Ilo
ots.
pay
bi.,
carp
. sub
aitti
ngbalinc. sheet.
.1
Ope
r.rev., corp. 1/
KO
p.r,
rev., Bus. Pr & Pt.
LR
atio
, op.
?.rev., Bus. Pr. & Pt. to Corp. (%)
MR
et. a
acta
. rec
bl.,
Bus. Pr. & Pt.
XR
et. a
cote
.paybl.,
Bus
. Pr.
& P
t.
Serv
ice
indu
stri
es:
OA
cct.a
. reo
bi.,
corp
. aut
Ittin
g ba
lanc
eeheets
PA
ects
. pay
bl, c
orp.
aub
aitti
ngbalance
shee
tsQ
Ope
r. r
ev.,
corp
.K
Ope
r. r
ev.,
Bus
. Pr
& P
t.S
Rat
io, o
per.
rev. Bus. Pr, & Pt. to corp. (%)
TEat. acets. reçbl., Bus. Pr. & Pt.
UEat. accta. pebl., Bus.,
Pr &
Pt.
V A
ccte
.recbl., Bus. Pr. & Pt. (exca.
professions & nonprofit org.)
V Acets. peybi., Bus. Pr. & Pt. (exci.
professions & nonprofit org.)
Stat, of
Inco
me
1939, Pt. 2,
i'bl.
4Ib
id.
Ibid.
PPl1.1P
D-C
827
E.t.asiAxE
460
Eat.asBxI.2/
Stat,
of I
ncom
e 19
39,
Pt.
2, .T
bl. 4
Ibid
.Ibid.
(PP
114
B)
+ (
PP 1
11 1
4)K
+J
Eat
, as
N x
LE
at.aaIxL/
Sta
t,of
Inco
me
1939
, Pt.
2, T
bl. 4
Ibid
.Ib
id.
PP11
5S
Eat
,as 0
x S
Eat
.aaPxS/
(PP
311 P
+M
+ V
+ a
) +
312
F +
N +
T)
V
(PP
311 C +
N+
+ b
) +
(Fr
322 G +
N +
U)
w
Bus
ines
s Pr
opri
etor
s an
d Pa
rtne
rehi
peE
stia
at.d
4oe
ount
s R
ecei
vabl
e(m
illio
ns o
f do
llars
exc
ept f
or
et .1
—S
uppl
emen
tto
Loa
nfun
dsan
d A
ccou
nta
Payable
figu
res
in parentheses)
Source
Ref
eren
ce
PP 3
12
1912 52
929
42,
117
3,31
3(1
56.4
)
460
241
1,84
62,
839
(153.8)
707
371
609
732
2,89
740
1(1
3.8) 84 101
406
463
3,27
04,499
(137.6)
559
637
60 732
3,25
242
8.(1
3.2) 86 97 388
466
3,356
4,656
(138
.7)
538
646
£ B C D B F 0 H I 3 K L H 0 P Q K S r U
"rnc
1ude
s lin
es 2
0 an
d 21
inthe source cited.
2jBetween 1936
and
1937
the
tax
retu
rndefinition of payb1ee was
1/In
clud
es a
gric
ultu
re, f
ores
try
and
fishery
indu
stri
es.
5,863
6,210
4,173
4,58
6
changed and
a ro
ugh
splic
e w
as n
eces
sary
to c
orre
ct f
or th
e ch
ange
.
Bus
ines
s Pr
opri
etàr
a an
d Pa
rtne
rshi
pe e
tal —
Bup
plem
ent
to L
oanf
unds
Pp 3
13A
ccou
nts
Rec
eiva
ble
and
Acc
ount
s Pa
yabl
e(m
lflio
ns o
f do
llars
exc
ept f
or f
igur
es in
par
ent�i
esea
)
Sour
ce R
efer
ence
Prof
essi
ons
& n
onpr
ofit
org.
sA
Ope
r. r
ev.,
prof
essi
ons
& n
onpr
ofit
org.
(ex
ol. c
hari
tabl
e or
g.)
3,64
93,
85PP
113
ZA
BPj
iblic
pur
pose
pay
men
ts r
eed,
by
Bus
. Pr.
& P
t. et
al
1,01
298
3PP 1 V
CE
st. o
per.
rev
., ch
arita
ble
org.
-50
649
2E
st. a
s B
x (
50%
)C
I)R
atio
, aec
ts. r
ecbl
. to
opel
, rev
., B
un. P
r. &
Pt.
serv
ice
Ci2
.)(
u.6)
PP 3
12 1
HD
indu
stri
es e
xcl.
prof
essi
ons
& n
onpr
ofit
org.
, (%
)B
Rat
io, a
cets
. pay
ble.
to o
pex'
. rev
., B
us. P
r. &
Pt.
serv
ice
(14
.)C
13.9
)PP
312
U .
H
indu
stri
es e
xcl.
prof
essi
ons
& n
onpr
ofit
org.
, (%
)F
Eat
. acc
ts. r
ecbl
., pr
ofes
sion
s &
non
prof
it or
g.45
244
7A
x D
-p
GEat, sects. peybl., professions & nonprofit org.
590
604
(A +
C)
x I
aH
Eat. acots. recbl., Bus. Pr. & Pt. et a]. (exol. omissions)
6,31
56,657
(PP 312 V) + (PP 313 F)
HI
Rev, set., acots. reobi.,
Bus
. Pr.
& P
t.et a]. md.
eat,
omissions
6,378
6,724
Eat.
asH +
1% o
fH
I(To PP 301 I)
3E
at.
acct
a.paybl., Bus. Pr. & Pt. et a]. (exel.
omis
sion
s)4,763
5,19
0(PP 312
W)
+ (
PP 3
13 a
)-
ER
ev,
eat., aecta. paybi., Bus. Pr. & Pt. eta]. mci. eat,
omis
sion
s4,
811
5,24
2E
at, a
s .1
+ 1
% o
f 3
K•
(ToP
P01R
2tC
ash
Inte
rest
Rec
eive
d on
Fed.
gov
t. ob
ligat
ions
:A
Obl
igat
ions
hel
d by
St.
& L
. Gov
t., D
ec. 3
1
Stat
e an
d ld
cal G
over
nmen
ts —
Ord
inar
yR
ecei
pts
(mill
ions
of
dolla
rs e
xcep
t for
fig
ures
in p
aren
thes
es)
BR
ate
of m
t. pd
. on
Fed.
Gov
t. ob
ligat
ions
hel
d by
the
publ
ic (
%)
CC
ash
jut,
reed
, on
Fed.
obl
igat
ions
Stat
e, c
ount
y, c
ity o
blig
atio
ns:
DO
blig
atio
ns h
eld
by S
t. &
L. G
ovt.,
Je.
30
B.
mt.
rate
on
mun
icip
al h
igh
grad
e bo
nds
()
FE
at, c
ash
jut,
reed
,on
sta
te, c
ount
y, c
ity o
blig
atio
nsO
ther
inv.
:0
Fed.
Gov
t. ob
ligat
ions
hel
d by
St.
& L
. Gov
t., J
e. 3
0H
Eat
, oth
er m
v. h
eld
by S
t. &
L, G
ovt.:
(I)
+ 0
) x
1941
rat
io,
St. &
L. G
ovt.
hold
ings
of
othe
r m
y, to
hol
ding
s of
Fed.
-&
St.
& L
. Gov
t. ob
ligat
ions
Im
t. ra
te o
n co
rpor
ate
high
gra
de b
onds
(%
)
JE
at, c
ash
jut,
reed
, on
othe
r in
v.B
Tot
al, c
ash
jut.
reed
.by
St.
& L
. Gov
t. (T
o B
TI
A)
L G
ross
Ren
ts (
To
B V
I B
)-
i/Sta
te g
ovt.
hold
ings
of
Fed.
& S
t. &
L. G
ovt.
oblig
atio
ns,
191,
1(c
xci.
unem
ploy
men
t com
pens
atio
n fu
nds)
Hol
ding
s by
92
citie
s of
Fed
. & S
t. &
L. G
ovt.
oblig
atio
ns, 1
941
Tot
al, a
bove
hol
ding
s of
Fed
. & S
t. &
L. G
ovt.
oblig
atio
nsO
ther
inv.
hol
ding
s, S
tate
Gov
t.O
ther
mv,
hel
d by
sin
king
& tr
ust f
unds
of
92 la
rge
citie
s, 1
91.1
Oth
er .i
nv. h
eld
by m
isc,
fun
ds o
f 92
larg
e ci
ties,
1941
(eat
. on
1939
rat
io o
f m
isc,
fun
ds to
sin
king
and
trus
t fun
ds)
Tot
s]. o
f ab
ove
hold
ings
of
othe
r in
v,, 1
91.1
Rat
io o
f ab
ove
hold
ings
of
othe
r In
?, to
abo
ve h
oldi
ngs
ofFe
d. &
St.
& L
. Gov
t. ob
ligat
ions
(%
)
is 1
01
300
300
Tec
h. P
aper
No.
5, N
at, B
ur. B
oon.
Res
earc
h,19
47, m
l. 4
(2.3
8)PP
101
D-
7E
st.a
AxB
.3,8
94.
4,04
3T
reas
ury
Ann
. Rep
ort 1
91,4
, ThI
s. D
& B
, p. 8
07D
(2.7
6)B
anki
ng &
t4on
etar
y St
at.,
Tbl
. 128
B(a
vg. o
f 12
mon
thly
avg
. fig
ures
)11
1E
st.a
aDxE
F
-26
92
Tre
asur
y .A
nn R
epor
t 194
4, T
his.
D &
B, p
. 807
608
631
Bet
, as
(D +
G)
x (1
4.6%
) 1/
(2.9
2)B
anki
ng &
)ne
tary
Sta
t., m
l. 12
8(a
vg. o
f l2
mon
th]y
avg
. fig
ures
)l
HxI
31.
36C
+F4
J46
File
s, U
, S. a
pt. o
f 0o
,, N
at. I
ncom
e D
iv.
L
Fina
ncia
l Sta
t, of
Sta
tes
1941
, Thl
. 33
1,63
1Fi
nanc
ial S
tat.
of C
ities
194
1, m
l. 31
3,47
042
1Fi
nanc
ial S
tat,
of S
tate
s 19
1.1,
Tb]
.. 33
68FI
nanc
ial S
tat,
of C
ities
194
1, m
l. 31
21
51.0
(14.
6)
2222
2S
ourc
eR
efer
ence
A B C G H
Stat
e an
d L
ocal
Gov
ernm
ent.
—O
rdin
ary
Rec
eipt
s18
102
(mill
ions
of
dolla
rs e
xcep
t for
fig
ure
in p
aren
thes
es)
ecei
nta
frum
Cua
tom
eis
Publ
ic s
ervi
ce o
per.
rev
. (in
c. a
lcoh
olic
bev
erag
e sa
les)
:A
Publ
ic s
ervi
Ce
oper
. rev
, in
94 la
rge
citie
sB
Eat
, tot
al b
c. g
ovt.
pobl
ic s
ervi
ce r
even
ues
A x
194
2ra
tio o
f pa
blic
ser
vice
rev
enue
tota
l bc.
gov
t.to
92
larg
e ci
ties
Stat
e po
blic
ser
vice
ope
r. -
rev.
(m
d. a
lcoh
Olic
bev
erag
e aa
les)
Tot
al S
t. &
L. G
ovt.
pabl
o se
rvic
e ri
venu
es (
To
.V
IC
)
).ac
. ser
vice
cha
rges
!St
ate
char
ges
for
curr
ent s
ervi
ces
Cha
rges
for
cur
rent
ser
vice
s, 9
4 ci
ties
Tot
al b
oo. g
ovt.
taxe
sZ
oo,taxes
Ool
lect
ed in
94
citie
sAin
cl. l
icen
ses
& p
erm
its)
Rat
io, t
otal
boo
. gov
t. ta
xes
to ta
xes
colle
cted
in94 cities
Rat
,total
bc. g
ovt.
char
ges
forcurrent
serv
ices
Stat
e re
venu
e fr
on h
eap.
cha
rges
Eat'.
St. &
L. G
ovt.
'reve
nue
from
hos
p. c
harg
es:
K z
193
9ra
tio,
no. of St.
& L
. Gov
t. ho
sp. b
eds
to n
o. o
f st
ate
hosp
. bed
s.G
ross
ren
ts r
eod,
by
St. &
L. G
ovt.
Tot
al S
t. &
L. G
ovt.
mis
c, s
ervi
ce c
harg
es (
To
P4B
VI
D)
Ts
Col
lect
ed-
0T
otal
St.
& L
. Gov
t. ta
xes,
fin
es, s
peci
al a
sses
smen
tsoo
lbec
ted
(To
P&B
VI
N)
1/m
is is
the
1942
rat
io o
ftotal meal goverument
pabl
ic s
ervi
ce r
even
ue (
$1,0
26 m
illio
n) a
s re
port
ed I
n th
e St
atis
tical
Abs
trac
tT
able
318,
to p
ablic
ser
vice
rev
enue
in 9
2 la
rge
citie
s ($
504
mill
ion)
as
repo
rted
in C
its F
inan
ces
19/.2
, Tab
le 4
2.is
the
1939
rat
io o
f th
e nu
mbe
r of
beds in State
and
Loc
al G
over
nmen
t hos
pita
ls (
749
thou
sand
) to
the
num
ber
of b
eds
In s
tate
gov
erm
.en
t hos
pita
la(561
thou
sand
) as
mpo
rted
in R
eani
tal S
ervi
oe in
the
U. 8
.. 19
41, A
mer
ican
)ie
dtca
l Ass
ocia
tion,
Tab
le 1
,
Sour
ce R
efer
ence
334
Fina
ncia
l Sta
t, of
Citi
es l9
y, 7
2?
A681
Eat
,as
A x
(2.
04)
,,/
277
Financial Stat,
ofStates
1939
, Thi
s. 2
2 &
23.
958
B+C
190 85
4,69
81,
980
(2.3
7)
Fina
ncia
l Sta
t.Financial
Stat
.1.
40 1
11(8
+ 0
)Fi
nanc
ialStat.
GH
of States
1939
, Thl
. 4of
Cities 1939, Ibi. 2
of
Citi
es1939, This. .5
& 6
201
Est
.asF
37Fi
nanc
ial
48.
Est
,tsX
46I0
'lOlL
I I.
Stat. of States 1939, ml. 9
x (1.3) a,
A B C D N F 0 H I 14 N 0
393
(Z+
'+L)
aim
s 14
8,42
41.
0 11
1H
Stat
e an
d In
cal G
over
nmen
ts —
Ord
inar
yR
ecei
pts
(mill
ions
of
dollé
re)
Sour
ce R
efer
ence
AG
ross
cash
pay
4,16
8&
irve
y of
Cur
rent
Bus
ines
s A
pr. 1
944,
Tbl
. 14,
p. 1
5A
BR
at, e
mpl
oyee
s' c
ontr
ibut
iona
into
ret
irem
entfs
104
Ret
, as
A .x
(2.
5%)
JB
CW
orn'
e co
mpe
nsat
ion,
tota
l ben
efits
pd.
236
Stat
. Abs
trao
t 194
3, m
l. 18
7C
PE
at. v
oroi
mn'
a co
mpe
nsat
ion
asee
ssm
ent:
73R
et, a
s C
z(3
1.0%
)g/
D
C x
194
2 ra
tio, a
sses
smen
ts to
ben
efits
pd.
IT
otal
Ins
. pre
miu
ms
reod
. (T
o B
VI
F)17
7B
+ P
i/Thi
s is
the
1941
rat
io o
f em
ploy
ees'
con
trib
utio
ns in
to r
etir
emen
t sys
tem
s ($
110
mill
ion)
as
repo
rted
in th
St4
ati.a
1 A
bstr
act 1
94T
able
308
, to
U. S
. Com
eerc
e D
emer
t,aen
t est
imat
e of
tota
l veg
as a
nd s
alar
ies
paid
by
8tat
e an
dL
ocal
Gov
ernm
ents
($4
,398
mill
ion)
, Sur
vsof
Cur
rent
Rus
inea
s. A
pril
191,
4, T
able
14,
p. 1
5.af
mi i
s th
e 19
42 r
atio
of
iork
men
'a c
ompe
nsat
ion
asse
ssm
ent.
($10
5 m
illio
n) p
aid
into
sta
te f
lnds
as
repo
rted
in F
inan
cial
Sta
tistic
s çf
Stat
es 1
91.2
, Tab
le 2
9, to
tota
l ben
efit
paym
ents
iirk
men
'sco
mpe
nsat
ion
prog
ram
s ($
328
mill
ion)
, the
Sta
tiatio
aLA
batr
act ]
k3, T
able
187
.
'-I
Stat
e an
d L
ocal
Gov
ernm
ents
—O
rdifl
al7
Receipts
(mill
ions
of
dolla
rs)
IC 1
06
Publ
ic P
urpo
se P
&ym
ent
Private
gift
s, e
tc.:
AG
ifts
& b
eque
sts
for
high
er e
duca
tion
BG
ifts
& b
eque
sts
for
govt
. uni
taC
.-
Con
trib
ition
sto
Fed
. Gov
t.D
Tot
al p
riva
te g
ifts
, etc
. to
St. &
L. G
ovt.
(To
B V
I G
)Fe
d, g
rant
s:B
Gra
nts
by F
ed. G
ovt.
to s
tate
s ],
fF
Non
WA
Fed
, gra
nts
to c
ities
(gr
ants
toD
istr
ict o
f C
olum
bia)
397 7 60
344
434
/.1
72 33.
403
747 38 0 0
1.53
7 16
1,59
112
,502
Survey of
Cur
rent
Bus
ines
s Je
. 194
4, p
. 12
Gro
up X
I -
2
Idem
, Gro
up X
I -
14T
reas
ury
Ann
. Rep
ort 1
939,
pp.
316
, 319
(A +
B)
min
us C
Fina
ncia
l Sta
t, of
Sta
tes
1939,
Tbl
, 9A
Fina
ncia
l Sta
t, of
Citi
es 1
939,
Tbl
. 1O
Net
. as
Lx
(15%
)sz
, as
(B +
7)m
inus
CD
aii3
Treasury Statement 1/15/39,
i40,
p. 7
Ibid
.Iflcrament
in 3
I m
inus
KH
4L
Financial Stat.
See
foot
note
2/
See
foot
note
/F
inan
cial
.St
at.
See
foot
note
2/
Ntu
B(10101 x+
I.)
+ (
z& 1
02D+ r.+
0) +
(IC
lo3z
)+(I
DIO
4D+
N+
5)—
B F C B I 3 L N N 0- P. Q.
a S 7
Sour
ce R
efer
ence
13 17 •0 30
A B C-
D
oE
at.
WA
Fed
, gra
nts
to s
tate
sH
Eat
.Fed, grants
to S
t. &
L. G
ovt.
(exc
i. W
A g
rant
s)I
WA
gra
nts
& lo
ans,
C. I
..1
WA
loan
s ou
tsta
ndin
g, D
ec. 3
1K
WA
net
loan
s m
ade
duri
ng y
r.L
W&
grsn
te,C
.T.
UT
otal
Fed
, gra
nts
(To
WB
VI
0)O
ther
inte
rgov
t. tr
ansa
ctio
ns:
NL
oc.g
rant
stoe
tate
a0
bc. g
ovt.
cont
ribi
tiona
to s
tate
pen
sion
fun
dsP
Oth
er p
aym
ents
by
icc.
gov
t. to
sta
tes
—in
terg
ovt.
charges
QS
tate
aid
& o
ther
tran
sfer
s to
bc.
gov
t.K
Eat
. cou
nty-
bc. g
ovt.
tran
sact
ions
ST
otal
oth
er in
terg
ovt.
tran
sact
ions
(T
o B
. VI
3)7
Tot
alOrdinaly Receioto
of S
tate
s 19
39, T
bl.7
of S
tate
s 19
39, T
bl. 1
O—
D
1ude
a Fe
dera
lgrants to states
for
high
way
s, e
duca
tion,
agr
icul
ture
, and
"al
l oth
er5,
WT
heee
item
s w
ore
smal
l bef
ore
1941
.Se
eFinancial
Stat
istic
of States l943, Tables 3
.nd
29,
-
2/pa
ymen
tsby
cou
nty
gove
rnm
ents
to o
ther
loca
l gov
ernm
ents
am
ount
ed to
$18
mill
ion
in 1
942
(Cou
nty
Fina
nces
191.
2, p
. 474
).D
ata
for
prio
rye
ars
was
est
imat
ed b
y ap
p3in
g th
e tr
end
in s
tate
ai1
to lo
cal g
over
nmen
ts to
the
1942
fig
ure
for
aid
paym
enta
by
coun
tygo
vsrn
ts.
Tax
ea C
olle
cted
AB
y Fe
d. G
ovt.
•T
,.xa&
Col
lect
ed C
lass
ifie
d bx
Sou
rce
and
Tim
eIp
divi
dual
Inc
ome
Tax
es3
Pd. b
y E
N. t
o Fe
d. G
ovt.
KPd
. by
RH
to S
t. &
L. G
ovta
.L
Tot
al in
divi
dual
pco
m ta
xes
pd. b
y E
N
5,30
6
4,65
63,
616 41 110
8,38
2 1.2
8,42
413
,730 86
072
7(8
4.53
)1,
034
A1,
p. B
, Wor
kshe
et A
-i-(
B +
D +
B +
I)
Fact
s &
Fig
ures
on
Gov
t.Fi
nanc
e 19
44, p
. 36
Ibid
.Fi
nanc
ial
Sta
t, of
'C
ities
193
9, T
b]. 2
1)x
(2.6
8),/
App
.B
, Wor
kshe
et A
—i—
BFi
nanc
ial S
tat,
of S
tate
s 19
39, T
b]..
4J+
K
App
. B, W
orks
heet
A-l
—D
A C D B F 0 U I
:KL B N 0 P Q U S
Fede
ral a
nd S
tate
and
Loc
al G
over
nta
—S
uppl
emen
tto
Ord
inar
y R
ecei
pts
Tax
es C
olle
cted
(aill
iom
s oX
' dol
lars
wep
t for
fig
ures
in p
aren
thes
es)
Sour
ce R
efer
ence
St. &
L. G
ovt.:
BB
y ic
c. g
ovt.
(exo
l. te
rrito
ries
)C
By
stat
e go
vts.
DFi
nes.
etc
. & s
peci
al a
sses
enen
ta c
olle
cted
by
94 la
rge
oitie
8B
Bat
, fin
es, e
tc. &
spe
cial
ass
esem
ente
, St.
& L
, Gov
t.:D
x 1
942
ratio
, fin
es, e
tc. &
spe
cial
ass
essm
ents
,St
. & L
, Gov
t. to
92
larg
e ei
tiee.
FT
otal
taxe
s co
llect
ed b
y St
. & L
. Gov
t. (e
xol.
terr
itori
es)
GB
st, t
axes
col
lect
ed b
y te
rrito
ries
BT
otal
taxe
s co
llect
ed b
y St
. & L
. Gov
t. (m
d. te
rrito
ries
)I
Tot
al ta
xes
colle
cted
by
Fed.
Gov
t. +
St.
& L
, Gov
ta.
(im
ol. t
erri
tori
es)
LG
Ill
Eat
. as
F x
C.5
)F+
GA
+E
1,23
729
61,
533
1,10
3pp
erat
e In
com
e an
d R
elat
ed T
axes
BFe
d. c
orp.
inco
me,
exc
esip
?ofi
te, c
apita
l sto
ck,
unju
st e
nric
hean
t & m
isc,
prof
itsta
xes
colle
cted
NSt
ate
corp
. inc
ome
taxe
s:co
llect
edo
Tot
alco
rp. i
ncom
e &
:i'il
ated
taxe
s co
llect
edFe
d. in
com
e &
exc
ess
prof
its ta
xes
accr
ued
duri
ngpr
evio
us y
r. o
n in
com
e of
':A
l]. c
orp.
QA
].]
nonf
inan
cial
cor
p.R
Rat
io,,
men
fina
ncia
l cor
p. to
all
corp
. Cs)
SE
at. c
orp.
inco
me
& r
elat
ed ta
xes
pci.
by L
cd. C
orp.
120
Fina
ncia
l Sta
t, of
.Sta
tes
l939
ml.
81,
223
fl+
N
Stat
. of
Inco
me
1938
, Pt.
2, m
l. '2
Ibid
.Q
+P
OxU
i/Thi
s w
eigh
t rat
io is
the
ratio
of
estim
ated
rec
eipt
s fr
om f
ines
, for
feits
and
eso
heat
s pl
us s
peci
al 'a
sses
smen
ts f
or o
utla
ys f
or a
ll St
ate
and
Loc
al G
over
nmen
ts (
excl
udin
g te
rrito
ries
) In
191,
2(1
117
mill
ion)
to s
uch
rece
ipts
by
92 la
rge
citie
s (3
.6 m
illio
n)'.
The
est
imat
e of
$11
7m
illio
n is
bas
ed o
n St
ate
Fina
nces
194
2, T
able
12,
City
Fin
ance
194
2, T
able
7, a
nd G
over
cman
tal F
inan
ces
In th
e U
nite
d St
ates
194
2, T
able
6.
Fede
ral a
nd S
tatE
and
loca
l Oev
.rna
ents
-S
uppl
emen
tto
Ord
inar
y R
ecei
pt.
IC 1
12T
ames
Col
lect
ed(m
il].io
oa o
fdo
llars
exce
ptfo
r fig
ures
in p
aren
thes
es)
Sour
ce R
efer
ence
ftoe
rtv
Tam
e. .
Seo
ial
Ass
essm
ents
Col
lect
ed b
x*£
Stat
s go
vt.
319
Fin
anci
alSt
at,
ofSt
at. 1
939,
Tbl
.8
A
Ice.
gov
t.B
Prop
erty
taxe
s co
llect
ed, 9
4 la
rge
citie
s1,
801
Fina
ncia
l Sta
t, of
Citi
es 1
939,
ml.
2B
CR
atio
,pr
oper
ty ta
xes,
all b
e. g
ovt.
to 9
4 la
rge
citie
s(2
.973
)In
terp
. of
ratio
s be
twee
n ce
nsus
yre
.C
DPr
el. e
at,
prop
erty
taxe
s, a
ll bc
. gov
t.5,
355
B x
CD
Oth
er th
an p
rope
rty
taxe
s, 9
4 la
rge
citie
s17
9Fi
nanc
ial S
tat,
of C
ities
193
9, m
l. 2
E
Rat
io, o
ther
taxe
s, a
].].
bc.
gov
t. tà
94
larg
eci
ties
(2.1
84)
Inte
rj,,
of r
atio
s be
twee
n ce
nsus
yrs
. /F
Prel
, est
,ot
her
taxe
s, a
ll bc
. gov
t..39
1z
xF
Prel
, eat
, pro
pert
y ta
xes
+ o
ther
taxe
s, a
ll be
.go
vt.
3,74
6D
+o
Tàt
alta
xes
colle
cted
by.
lee.
gov
t.4,
698
m(B
+ G
)1
Rat
io, p
rel.
eat,
prop
erty
taxe
s to
pre
l. ea
t,pr
oper
ty +
(93
.2)
. Hot
her
taxe
s, a
ll 1c
c. g
ovt.
(%)
KR
ev, e
at. p
rope
rty,
taxe
s, o
il be
, gov
t.4,
379.
rx
3
LT
otal
pro
pert
y te
xes
colle
cted
, St.
& -
L. G
ovt.
4,69
8i +
xL
KSp
ecia
l ass
essm
ents
, 94
larg
e ci
ties
28Fi
sana
ial S
tat,
of C
ities
, 193
9, T
bl, 2
K
NR
et, s
peci
al a
sses
smen
ts, a
ll bo
o, g
ovt.s
N x
194
2 ra
tin,
72N
x (
2,58
) ,/
N
spec
ial a
sses
smen
ts, a
ll ba
. gov
t. to
92 la
rge
oitie
n
1/T
his
is th
e 19
39 r
atio
com
ited
by li
near
inte
rpol
atio
n of
rat
ios
betw
een
1932
and
194
2 of
taxe
sfo
ral
l loc
al g
over
nte
as r
epor
ted
in th
ede
cenn
ial C
ensu
s to
taxe
s fo
r 94
larg
e ci
ties
asre
port
ed in
Fin
anci
1Sta
ttstio
a of
Citi
es ,
Tab
le2,
&/T
hi. i
s th
e 19
42 r
atio
of
spec
ial a
sses
smen
ts o
fal
l loc
al g
over
usen
ts a
s re
port
ed in
Oov
erm
e.nt
aj F
inan
ces
in th
e U
nite
d ta
tes
iW.2
,B
urea
u of
the
Cen
sus,
Tab
le 6
,($
62m
inio
n) to
spe
cial
ass
essm
ents
of
92 la
rge
citie
s as
rep
orte
d in
Fin
anci
al S
tatis
tics
of C
ities
194
2,T
able
7,
($24
mill
ion)
,
Fede
ral a
M S
tate
and
tees
]. G
over
nts
-S
ppla
nant
to O
rdin
ary
Rec
eipt
sT
axes
Col
lect
ed(m
illio
ns o
f dd
ilare
)
I113
Pron
erty
T&
e 4.
See
cial
4aa
eea"
ta (
Gou
t.)'
AT
otal
ree
d, b
y St
.&
L.
Gov
t.
H. b
y B
E:
BT
axes
on
oir
occa
pied
lLtn
gaC
Ta
on a
ll va
cant
acn
farm
1l1
ngs
DE
at. t
sby
BE
on
vaca
nt m
onfa
rin
dwel
lings
EPr
reon
al p
rope
rty
taxe
sF
Tot
al. s
peci
al a
ases
te p
si, t
o be
. gov
t.0
Eat
, spe
cial
ass
esan
ante
psi
, by
BE
BT
otal
pro
pert
y ta
xes
& s
peci
al a
sses
smen
ts p
d. b
y H
RH
. by
Sec.
&R
. Fir
es e
t eli
IT
a on
ten8
nt o
ccup
ied
dwef
l.ing
ó3
Eat
, tax
es o
n no
nfax
e dw
ellin
gs f
or r
ent o
r sa
leK
Eat
. spe
cial
ass
essm
ents
LT
otal
pro
pert
y ta
xes
on r
ente
d dw
elU
ngs
&dw
ellin
gs f
or r
ent o
r sa
le +
spe
cial
ass
essm
ents
HPd
.byF
axm
sN
Oth
er p
rope
rty
taxe
s &
spe
cial
. ass
essm
ents
psi
. &/
0E
at. p
d. b
y te
d. C
orp.
PR
et. p
d. b
yBus
.P
r.&
Pt.
eta]
.Q
Bat
. psi
, by
Bka
. &U
. 8. n
. Fon
daE
Ret
. psi
, by
All
Ins.
Car
rier
sS
Bat
. psi
. by
Sec.
& B
. Fix
es a
ta]
.(o
n co
sm. p
rope
rty)
2/fo
r 19
39 w
eigh
t rat
ios
see
App
. A 3
vi,
a/O
ther
than
taxe
s on
dw
ellin
gs, p
erso
nal p
rope
rty
of h
atw
ehol
da, a
M
4,77
0m
n.2L
+N
Sour
ce R
efer
ence
794
File
s, U
. S. D
ept.
of C
oesi
., N
at, I
ncom
e D
iv.
97Ib
id.
29E
st.a
sox(
30%
)1/
137
Surv
ey o
f C
urre
nt B
usin
ess,
Jy.
194
7 Sn
ppl.,
Tb]
.. 8
'72
10U
2N18
Est
.aaP
x(25
%),
/97
8B
+D
+B
+0
804
File
s, U
. S. D
ept.
of C
ome.
, Nat
. Inc
ome
Div
.68
Est
.aeC
ninu
sD1.
8E
st.a
slx(
25%
)2/
890
1+3+
1
A B C D B P 0 B I- 3 K L H N.
0 P Q B S
452
2,45
01,
788 98 74 269
farm
rea
l est
ate,
AS
202
AA
min
us(0
+ L
+ M
)N
x73
%)
N x
. 9%
Nx
/% ,/
Nx
3%?d
p/N
xn$
),/
Fede
ral a
nd S
tate
and
Loc
al G
over
nmen
ts —
Sup
plem
ent
to O
rdin
ary
Rec
eipt
sFa
xes
Col
lect
ed(m
illio
ns o
fdollars
exce
pt f
or f
igur
es in
par
enth
eses
)15
114
B F 0 H
Payr
oll T
sPa
yrol
l tax
es c
olle
cted
s782
801
1,58
31,
692
1,3(
2(7
7.0)
1,218
365
25,2
4 2825,1%
7,816
1,954
5,86
256
7
1,05
610
695
033
,239
(3.6
6)
Sour
ce R
efer
ence
App
.B, -Worksheet A—i-B
Financial
Stat
, of
States
1939
, Tbl
. 8A
+B
IC 2
01 A
IC 2
15 0
I minus 3
PP
201
AE
at, a
s L
x (25%)
Lm
inus
MB
K 2
01 A
0!201
ASR
201
BE
at,as Q x
Qm
inus
RK
+N
+ 0
+G
T
B C U B F a U I -3 K L N H 0 P Q a 'S 'F U
xtA
Fed,
pay
roll
taxe
s (s
ocia
l ins
.)B
Stat
e pa
yrol
l tax
es (
unem
ploy
men
t com
pens
atio
n)C
Tot
aIpe
yxol
1 ta
xes
oolle
otèd
by
Fed.
& S
tate
Gov
ts,
DT
otal
acc
rued
em
ploy
er &
em
ploy
eeco
ntri
butio
ns f
or a
ocl*
l ins
. JA
ccru
edem
ploy
er c
ontr
ibut
ions
for
soc
ial i
ns.
Rat
io, a
ccru
ed e
mpl
oyer
con
trib
utio
ns to
total
cont
ribu
tions
(%
)T
otal
payr
oll t
axes
pd.
by
empl
oyer
sT
otal
pay
roll
taxe
l pd.
by
empl
oyee
sT
axab
i. pa
yrol
lsI.
Gro
sscash pay, ltd. Corp.
3D
irec
tors
' fee
s, la
d. C
orp.
KT
axab
le p
ayro
ll, la
d. C
orp.
LG
ross
cas
h pa
y, 'B
us. P
r. &
'Pt.
et a
lH
Eat
, pay
roll
in n
onoo
vere
d em
ploy
men
tN
Tax
able
payroll,
Bus
. Pt.
& P
t. et
al
0T
axab
le p
ayro
ll, R
ica.
& U
. S. l
bn. F
'Lm
deP
Tax
able
pay
roll,
LU
Ins
. Car
rier
sQ
Tot
alpa
yrol
l, Se
c. &
R. F
irm
s at
al
KE
at, p
ayro
ll in
non
cove
red
'em
ploy
men
tS
Tax
able
pay
roll,
Sec
.& K. Firma
et,a
lT
Tot
al ta
xabl
e pa
yrol
l of
abov
e tr
ansa
ctor
gru
mp.
UR
atio
, pay
roll
taxe
s p6
. by
empl
oyer
s to
tota
l tax
able
pay
roll
(%)
Survey of Current
Bus
ines
s, J
y.'l9
47Suppl.,
This.
34 &
35
Idem
,m
l. 34
B4D
CxF
C m
inus
0
(10%
)'
P+ S
Payr
oll t
axes
p6.
:V
Ind.
Cor
p.92
3U
xKV
HB
us. P
r, &
Pt,
at a
l21
5U
x N
VI
Ric
a. &
U. S
.Fs
21U
X 0
IV
All
Ins,
'Cer
rier
a24
Un
P1
ZSe
c.& K, Firma
.t al
'0
35U
x S
Z
jThi
s ite
m in
clud
es e
mpl
oyer
con
trib
utio
ns f
or F
eder
al' u
nem
ploy
men
t tax
, rai
lroa
d un
empl
oym
ent i
nsur
ance
,state unemployment insurance, old
age
and
survivors inaurence, and
railr
oad
retir
emen
t ins
uran
ce p
ins
empl
oyee
con
trib
utio
ns to
the
last
teeof
thes
e ca
tego
ries
.-
Item
Fed
ora]
.E
xcis
e T
aes
ATotal,
C. Y
. /B
Eat
, exc
ise
ta'e
s pd
. by
md.
Cor
p.C
Eat.
pd. b
yBus.
Pr. &
Pt.
etel:
A x 1939 weight ratio
D Total
Fede
ralCustoms Duties. C. I.
KPd. by RH (mail + baggage +
info
rmal
ent
ries
), F
y•
FPd. by HR (mail +
bagg
age
+informalentries), C. y.
0D
utie
s on
all
other entries
LEat, duties pd, by wholesalers
KO
per.
rev
., co
rp. w
hole
sale
rs,/
NOper.
rev.
, Bus
. Pr.
& P
t. at
si wholesalers
oO
per.
rev.
, cor
p. +
Bus
. Pr.
& P
t. et
el w
hole
sale
rs-
PR
atIo
, ope
r. r
ev. c
orp.
who
lesa
lers
to a
ll w
hole
sale
rs (
%)
QE
at •
dutie
spd
. by
corp
. who
lesa
lers
REat, duties pd.
by m
fr.
SO
per.
rev
., co
rp. m
fr.
TO
per.
rev
., B
us. P
r. &
Pt.
mfr
.U
Ope
r. r
ev.,
Cor
p. +
Bus
. Pr.
& P
t. m
fr.
VRatio,
oper
. rev
.corp. mfr. to all mfr. (%)
UEat, duties pd. by corp. afr.
IE
at,
tots]-
dutie
spd. by Ind. Corp.
!Est.tota].
dutie
s pd
. by
Bus
.P
r.&
Pt.
ètel
Sour
ce R
efer
ence
Tre
asur
y, A
nn. R
epor
t 191
.0, T
hl. 1
1E
at,
as
A m
inus
CE
at..
as A
x (
3%)2J
App.
B, W
orks
heet
A-i
-P
Tre
aüur
y, A
nn. R
epor
t 193
9, p
. 121
2 yr
. mev
g. a
vg. o
f N
D m
inus
F
G m
inus
LSu
rvey
of.
Cur
rent
Bus
ines
sApr. 1946, p.
19FF
1110
8+?
SU,
RxV
Fede
ral a
nd S
tate
and
ID
cal G
over
nmen
ts —
Sup
plem
ent
to O
rdin
ary
Rec
eipt
sT
axes
Col
lect
ed(m
illio
ns o
f do
llars
exc
ept f
or f
igur
es in
par
enth
eses
)
Ill 1
15
1,44
21,
399 43
333 5 5
328
133
23,2
917,
580
28,8
71(7
3.75
)99 195
51,1
595,
160
62,319
(91.
72)
179
278 50
G x
(40
.6%
) 2/
Sta
t,of
Inc
ome
1939
,PP
112
QM
+N
LxP
Pt. 2
, Thl
. 3, P
t. I
A B C D K P a L H N 0 P Q a S T V U
Q+
W0
min
us X
i/Inc
lude
s liq
uor,
toba
cco,
sta
mp
taxe
s, a
nd m
anuf
actu
rers
' exc
ise
taxe
s (m
inus
gas
olin
e ta
xes)
,O
n ac
tual
wor
kshe
ets
this
item
was
com
pute
das
fis
cal y
ear
min
us f
irst
half
of f
isca
l yea
r pl
us f
irst
half
of s
ucce
edin
g fi
scal
yea
r.JF
or 1
939
wei
ght r
atio
see
App
. A 3
vii,
-
2/S
ales
of
who
lesa
lers
cla
ssed
as
Impo
rter
s w
ere
$1,3
80million
in 1
939j
Im
port
s w
ere
t2,5
49million
(Six
aent
h C
ensu
s, S
tatis
tical
Abs
trac
tT
able
s 59
694
4.It
was
estimated
that
wholesalers
palA
$ij
mill
ion
dutie
s In
193
9 (o
r 75
%x
328)
.T
he c
onst
ant w
eigh
tra
tio40
.6%
m.
.
WG
ross
sale
s en
d gr
oss
rece
ipts
fro
m o
pera
tinn
of a
ll co
rpor
ate
wholesale
trad
e pl
us o
ne—
half
of
unal
loca
ted
corp
orat
e tr
ade,
I y
aderal )1iscellaneoua
Tax
esA
Total, C. !.
BNet. Fed. misc. taxes pd. by lcd. Corp.
-.
CE
at. p
d. b
y B
ua. P
r. &
Pt. at al: A x
1939
weight
ratio
tor
Fuel
Tax
esP
Fed. gasoline tax, C. Y.
NState
mot
or f
uel t
axes
, C. V
.F
Tot
al m
otor
fue
l tax
es, F
ed. +
St. & L. Gorte.
3)btor
fuel
taxe
s pd
. by
md.
Cor
p..
K)t
oi f
uel t
axes
pd.
by-
Bus
. Pr.
& P
t. et
ml
/L
Stat
e )t
or V
ehic
le L
icen
se T
axes
NP8.byFarns
NP8
. by
othe
r th
an F
arm
s0
No.
of
mot
or v
ehic
les
registered
( of
veh
icle
s)P
No.
of
mot
or v
ehic
les
used
for
far
m b
.is. (
of
vehi
cles
)Q
No,
of
nonf
aru
vehi
cles
( o
f ve
hicl
es)
RA
vg. t
ax p
er n
onfa
rm v
ehic
le (
$ pe
r ve
hicl
e)S
No. of trucks
regi
ster
ed(
of tr
ucks
)I
No,
of
nonf
axe
truc
ks (
of
truc
ks)
UE
at, l
icen
se ta
x on
truc
ks p
6. b
y ot
her
than
Far
ms
VE
st. l
icen
se ta
x on
truc
ks p
6. b
y m
d. C
orp.
Eat
,license
tax
on tr
ucks
p6.
by
Bus
. Pr.
& P
t. at
ml
Eat
. lic
ense
tax
on n
onfa
rm, n
onoo
sm. m
otor
veh
icle
sN
ot, l
icen
se ta
x on
non
farm
, mon
conu
. mot
or v
ehic
les
p6. b
y N
HE
at. l
icen
se ta
x on
non
farm
, non
oam
o. m
otor
veh
icle
s p6
.by Bua. Pr. & 'Pt.
et m
lT
otal
noto
rveh
iole
taxe
s p6
. by-
Bus
. Pr.
& P
t. at
ml
Tre
asur
y, A
nn. R
epor
t 194
0, T
bl.ll
/E
at. a
m A
minus
C
Eat
, as
A x
(19
%)
/
Tre
asur
y, A
nn. R
epor
t 194
0, m
l.).)
. /Fi
nanc
ial S
tat,
of S
tate
s1939,
Tb)
.. 8
D+
EE
at, a
s F
x (1
4,28
%)
3/F
min
us 3
Fina
ncia
l Sta
t,of
Stat
es 1
939,
Tbl
. 8JO
202 F
LminnaM
Auto Facts
& F
igur
es 1
943,
p. 1
8JO
101
K
Om
iuus
PN
4QA
uto
Pacts & Figures
1943
,p. 48
S m
inus
(10
101
3)
'ExT
Eat
, as
Ux
(50%
)
'Fed
eral
and
Sta
teend
Loc
al G
over
nmen
ts —
Sup
plem
ent t
o 0r
d1na
- R
ecei
pts
Tax
es C
olle
cted
(mill
ions
of
dolla
rs e
xcep
t for
fig
ures
in p
aren
thes
es)
2So
urce
Ref
eren
ce
'l6
133
32 215
732
9/47
135
'812 302' 31 271
(30
.6(
'3.
027
.6
C4.
43.
4) 33 17 16 238
214 24
V I I z ft
A B C D N N. 3 K L N N 0 P Q N S I U V V I I N a
U m
inus
VB
R 2
02 I
RH
202.
3I
min
us I
40W
+Z
J0n
actu
al w
orks
heet
s th
is it
em w
as c
ompu
ted
as f
isca
l yea
r m
inus
fir
st h
alf
of f
isca
l: ye
ar p
lus
firs
t 1*]
! of
suc
ceed
ing
fisc
al y
ear.
&"F
or 1
939
wei
ght r
atio
see
App
A 3
vii.
'
3/S
ales
of a
ll fi
lling
sta
tions
wer
e $2
,2 m
illio
n In
193
9j s
ales
of
corp
orat
e fi
lling
sta
tions
wer
e $4
03' m
illio
n (S
irte
enth
,,ens
us, R
etai
lT
rede
; 193
9, T
able
51)
.It
was
est
imat
ed th
at I
ndus
tria
l Cor
porf
ttion
s pa
id$135 million for
acto
r fu
el ta
xes
in19
39(o
rx
947)
.T
he c
onst
ant w
eigh
tratio 14.28%
= ......
''
,
ótat
. lbb
scoo
Sal
ep T
axT
Oba
cco
sale
s ta
x p6
. by
lad.
Cor
p.T
obac
sal
es ta
x p6
. by
Bus
. Pr.
& P
t. et
al
qtat
ó A
lcoh
olic
Bev
eras
e Sa
les
Tax
Alc
ohol
ic b
ever
age
sale
s ta
x p6
. by
lad.
Cor
p.A
looh
olid
bev
erag
e sa
les
tax
p6. b
y B
us. P
r. &
Pt,
etal
Other
Sale
s an
d )4
iece
llsne
ous
Tax
esSt
at.:
•St
ate
gene
ral s
ales
, use
& g
ross
rec
eipt
s ta
xes
Stat
. sof
t dri
nk s
ales
tax
Oth
er s
tate
sal
es ta
xes
Løo
als
Tot
alta
xes
recd
.by all be. govt.
Prel
•se
t.to
tal t
axes
rec
d. b
y al
l boo
•go
vt.
Oth
er ta
xes,
91.
larg
eci
ties
Prel.
eat,
other (nonproperty) taxes reed, by alt boo.
govt
.R
atio
,pr.1. other taxes to
prel
.total taxes, a]l
lop.
. gov
t.(%)•
Rev
.es
t. ot
hertaxes, all be. govt.
Ratio, other taxes,
rev.
est for all bc.
govt
.to 34 large
•cities
VSales
& s
ervi
ce ta
xes,
lice
nsef., & misc, taxes,
94large
citie
sEat,
sale
s& service taxes, license
tees
& misc. tires,
all boo. govt.
yT
otal
oth
er s
ales
& a
lec.
taxe
s, S
t. &
L. G
ovt.
ZEat,
othe
r sa
les
& m
isc,
taxe
s p6
. by
IntL
Cor
p.a
Eat
, oth
er s
ales
& a
lso.
tas
p6. b
y B
us. P
r, &
Pt.
at a
lb
Eat
, oth
er s
ales
texa
s p6
. by
All
Ins.
Car
rier
s
Sour
ce R
efer
ence
Fine
noja
l Sta
t, of
Sta
tes
1939
, ml.
8Eat,
as A
x (3
4%)J
,/A
min
us E
149
Fina
ncia
l15
Est
,asG
134
GeI
nneg
LG
111
(B
+0)
LG
112
i1.
0 12
2 E
1.0
112
0SQ
85Fi
nanc
ial S
tat,
of C
ities
193
9, T
his.
5& 6
151
VxV
M+
N+
0+i
361
Eat
,as I minus
(a +
b)241
1st.
as T x (40%)
3E
at, a
s2/3
of1%
of H
K L
Fede
ral a
nd S
tats
and
Loc
al G
over
nt. -
Sup
plem
ent
to O
rdin
ary
Rec
eipt
sT
axes
Collected
(millions
of d
olla
rs e
xcep
t for
figures
inpa
rent
hese
s)
59
20
39
10 1
17
Stat
, ofStatei
1939
. Thi
.8
x (9,90%)
2J
4.46
Fina
ncia
l Sta
t,of States 1939,
Tb)
.. 8
0mid.
8Ib
Id.
4,698
5,746
179
391
(6.&
)31
9(1.78)
A I F 0 K L 11 N 0 P Q R S T U V V
PxT
UR
1/Sa
les
of a
ll fo
od it
ores
, dri
nkin
g an
d ea
ting
plac
es, a
nd d
rug
and
ciga
r st
ores
wer
e $1
5,45
6million In
1939
; sal
es o
f co
rpor
ate
otie
ta in
thes
elines
vera
$5,
257
million (Sixteenth Census
Ret
ail T
rade
: 193
9, T
able
5A
).d
estim
ated
that
Ind
ustr
ial C
orpo
ratio
ns p
aid
$20
mill
ion
for
toba
ccO
sal
estaxes in 1939
(or
x59
).The constant weight
ratio
3/,
Qe
5 25
759
'Sa1es
of a
ll dr
inki
ng p
lace
s an
d na
ckag
e liq
uor
ntor
es w
ere
$l,9
'71
in 1
939;
sal
es o
f co
rpor
ate
outle
ts in
thes
e lin
es w
ere
$195
mill
ion
(see
sou
rce
cite
d in
foo
tnot
e 2/
).It
was
est
imat
ed th
at I
ndus
tria
l Cor
pora
tions
pai
d $1
5 m
illio
n fo
r al
coho
lic b
ever
age
lale
s ta
xe5
(or
x 14
9),
The
con
stan
t wei
ght r
atio
9.9
0%...
i._
.i2.
'01,
971
149
1,97
1
I z a b
Fed
eral
aM
Stat
,aM
Loc
al G
over
nmen
ts —
.S
uppl
emen
tto
Ord
inar
y R
ecei
pt.
Tax
es C
olle
cted
(mill
ions
ofdollars
exce
pt f
or f
igur
esin parentheses)
Wile
'0 a,,
Sour
ce R
efer
ence
Fina
ncia
l Sta
t, of
States
Fina
ncia
l Sta
t, of
Cities
L 1
17 V
1939
, Tbl
. 8-I
.
1939
, Thi
s. 8
-A& 8-B
1939,
Thi
s. 5
& 6
Q a-S
T U
-N
St. &
L. G
ovt.
Tax
esn.e.c.
A B C
Stat
, sev
eran
ce ta
xes
Ope
r. r
ev,,
corp
. min
ing
ooi,
Ope
r. r
ev.,
Bus. Pr. & Pt. mining
coat
432,
731
272
Fina
ncia
l St.t
, of
States
1939
,su
rvey
of
Cur
rent
Sua
lnea
s A
pr.
PP111 14
-
Tb]
.. 8
1946,
p. 1
9 -
A B CD
Ratio, oper. rev. noncorp. mining
toall mining cos. (%)
(9.1
)C
* (
B +
C)
D
-E 7 G
Stat
e se
vera
nce
tax p6. by led. Corp.
Statese'verancetaxpd.byBua.Pr.&Pt,etal
Stat
e al
coho
lic b
ever
age
license taxes
liquo
r st
ores
toall forms of bus. ($)
39 427
Eat •
asA minus F
Eat. aaAxD
Financial Stat, of States
1939
,m
l.8
.
B F G
I ; K
Stat
. alc
ohol
ic b
ever
age
licen
se ta
x p6
. by
led.
Cor
p.St
ate
alco
holic
bev
erag
e 1i
cese
tax
p6. b
y B
us. P
r, &
Pt.
ata].
State amesam.nt
licen
se ta
xes
3
24
1.3
Net, as C x
(9,9
0%)
/Cminus I
Financial
Stat
, of
Stat
es.
I .1 KL
Stat
e aa
msn
t lic
ense
texa
s p6
. by
Bus
. Pr.
& P
t. et
a].
13E
at, a
s K
x (
100%
).L
.
Oth
er s
tate
cor
p. li
cens
e +
inoo
rpor
atio
nta
xes
p6. b
y le
d. C
orp.
114
14
Cor
p. li
cens
e &
oth
er b
us. -
texa
s, 9
4large
citie
s94
N•
Rat
io, t
xea
colle
cted
oth
erthan
prop
erty
taxe
e,-
(1.7
8).
oal
l bc.
gov
t.to 94 large cities
Pnet, total bc.
govt
.corp. license & other bus, taxes
164
-Est. as N x
0.
p6. by lad. Corp.
.
Stat
e oc
cupa
tion,
pro
fess
ion,
etc
. lic
enB
e -
taxe
s+
--
-
mtg
. ,-
stoc
ktr
ansf
er, -
stam
p, e
tc. t
axee
..
Q -
.R S T
Tot
al (
exci
, ins
, bus
, lic
ense
tax)
Eat.
pd. b
y la
d. C
orp.
ESt
. p6.
by
Bus
. Pr.
& P
t. et
a.]
.-
Ret
.pd
. by
Sec.
& B. Firms
et a
l-
63 16 16 16
Fina
ncia
l Sta
t, of
Sta
tes
1939
,E
at, a
s Q
(25%
)E
at. a
sQ x (25%)
Eat
, as
x (2
5%)
Thi
s.8—
& 8
—B
UE
at. p
6. b
y Sk
a. &
U. S
. )4n
. Fun
ds-
-15
Eat
. aa
Qm
inus
(a+
S+
'r)
V VB
us, l
icen
setaxes p6. by
All
Ins.
Car
rier
sSt
. & L
. Gov
t. po
ll &
non
bus.
lice
nse
taxe
s p6
. by
Wi
98 40Fi
nanc
ial S
tat.
ofStates
1939
,}f
fl 2
02 0
. + S
Tb]
..8—
A
iOn 1939 weight ratio see footnote /
toI
117.
Fede
ral a
nd S
tatM
and
Loc
al G
oven
aent
e -
Sup
plem
ent
to O
rdin
al7
Rec
eipt
.U
9Taxes
Col
lect
ed(a
liflo
n. o
f do
l.].a
ra)
Sour
ce R
efer
ence
Fees
. Fin
es. P
enal
ties.
etc
..-
____
____
____
AFed,
fees
, fin
es, p
enal
ties,
etc
., C
. T.
29A
pp. B
, Wor
kshe
et A
—i—
HA
BL
oc..
fees
, fin
.., s
peci
al. a
sses
smen
ts11
0L
G 1
11 H
BC
Min
us s
peci
al a
eses
amen
ta m
ci. i
n pr
oper
ty ta
xes
72If
l 11.
2 N
cL
oc. f
ees
& f
ines
-B
min
us C
DT
otal
Fed
. + S
t.& L. Govt. fees, fines, etc.
67-
A + D
Eat.
fees
,fines,
etc.
pm
.23
Eat
, a. H
x (
33.3
%)
7E
at. f
ees,
fin
es,etc. p1. by Bus.
Pr..
& P
t. at
el
22
Eat
. as
H x
(33
.3%
).
E.t,
fees
, fin
es, .
t.. ,
22E
at, a
s H
x (
33.3
%)
-H
tciae
& s
ales
taxe
s pd
. by
led.
Cor
p.1,
930
(IC
US
B)
+ (
IC 1
16 J
+ (
Ia U
? H
+ K
+ Z
)is
e& sales texea
pd. b
y B
us. P
r. &
Pt.
atal
1,26
9(i
n 11
5 C
) +
(w
116
KS
+(I
117
F+
L +
a)
KT
otal
taxe
s p.
1. to
Fed
. + S
t.&
L. G
ovt..
by
Ted
. Cor
p.6,
462
(LG
111
.S)
.(
113
0) +
(In
114
v) +
(Ia
115
I)
+K
(in
116
B.4
. v)
+ (
La
1181
+1+
M+
P-+
R)
1
(in
119
F÷I)
LT
otal
tax.
spd.
toF.
d.+
St.&
L.0
0fl5
.by
1,90
6(L
G11
3P)+
(1a1
14w
)+(i
nils
y)+
(i.o
116C
+a)
+L
Bus
, Pr,
& P
t. et
el-
(In
UF+
3+
L+
s)+
(W
119
0+1)
NT
otal
tax.
a p.
1. to
Fed
. + S
t.&
L. G
ovta
.by
5,36
2(i
n ill
I. +
0minus
s) +
(in
113
H +
1.4
x+
Q +
a +
S)+
11
allo
ther
tren
aact
Org
rofl
pe
IT
otal
taxe
s p1
, to
Fed.
+ S
t. &
L. G
ovt..
by.
13,7
30x+
L+
NH
All
Tre
nsac
tor
Gro
up. —
tota
lt&
x. o
olle
atd
byFe
d. +
St.
& L
. Oov
te.
(LO
111
I)
'0
Stat
. sad
Loc
al 0
Ove
rnte
—0d
iaar
7.ei
dibw
e10
201
(ailU
on. o
f do
llua)
2232
Sour
ceR
efer
enoc
'&pr
ois0
aahP
Iy(T
oBV
IN)
4,16
8If
l'103
L£
Cas
h T
htit
BG
ross
St.
&L
. Gov
t. de
bt, 3
.. 30
19,5
7619
,996
Surv
.yof
Gr.
ntSo
sins
sa S
ept.
1945
, p.1
6B
oT
nt.
rate
on
sani
cipe
l hig
h gr
ni. b
onds
(%
)-
(2.7
6)1.
0 10
1c
BC
sshi
nt.p
d.on
groa
sSt.&
L.O
ovt.d
ebt
552
BxC
B-
(ToB
VIP
)I
0o.s
Pan
t. (T
o B
VI
Q)
24Fi
les,
U. S
. Dep
t. of
Ccs
at.,
Pat.
Inco
Div
.D
ent b
eBt.
& L
. Gov
t. as
'Cua
tcsa
rsC
oet o
f al
coho
lic b
ever
ages
sol
dsP
'P
ayne
ate
for
oper
atio
n of
alo
ohol
ie20
7Fi
nanc
ial S
tat,
of S
tate
s 19
39, .
Thi
. '22
Fbe
vera
ge a
onop
o]y
epst
ösa
01s
t. co
st o
f al
coho
lic b
ever
ages
sol
d:'
190
Ret
. is
Px (
92%
) J/
0P
x 19
4.1
ratio
,, co
st o
f al
coho
lic b
evez
ages
so1
to o
per.
exp
. + c
ost (
To
P&B
VI
R)'
2/T
huis
the
1941
rat
io o
f co
st o
f al
coho
lie b
ever
ages
sol
d ($
231
ailli
on)
to o
pera
ting
expe
nses
plu
s co
st o
f al
coho
lic b
ever
ages
sol
d($
252
nilli
on)
as z
epor
ted
in F
inan
cial
Sta
tistio
s of
St.a
tee
l9L
.1, T
able
37.
Stat
e an
d Io
al G
over
emen
te —
Ord
inar
yExpenditures
(nd.
Uio
ns o
fdollars
exce
pt f
or f
igur
es in
par
enth
eses
)IG
2
Oth
er p
rocu
rem
ent a
zpd.
*£
Ele
ctri
c ut
ility
rev
enue
fro
m s
tree
t' &
hig
hway
ligh
ting
BE
at, c
ost o
f st
reet
& h
ighw
ay li
ghtin
g. &
equ
ipue
ntC
Zt. oost
oftextbooks & supplies
DN
o. o
f m
otor
v.h
icle
in S
t. &
L.Govt.
serv
ice,
Dee
. 31
(N v
ehic
les)
EN
et a
dditi
on to
mot
or v
ehic
les
in S
t. &
L. G
ovt.
serv
ice
duri
ng th
e ye
ar (
N v
ehic
les)
FE
at. r
epla
cem
ents
(H
veh
icle
s)0
Eat
, tot
al n
ew m
otor
veh
icle
s (N
veb
iole
s)H
Inde
x of
vho
leaa
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rice
s of
itor
veh
icle
s(1926
=].0
0)I
Inde
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. of
coat
of
purc
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s of
tori
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equi
nt &
rela
ted
item
sE
at, t
otal
coa
tof
purc
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s of
mot
oriz
ed e
quip
uent
&re
late
d ite
ms
IT
otal
St.
& L
. Gov
t. co
nstr
. exp
d.L
St. &
I.,
Gov
t. in
stal
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ts to
con
trac
tors
(exc
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nres
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s)'
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tr, m
ater
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Sour
ce R
efer
ence
65St
at, o
f E
lect
ric
Util
ities
in th
.U. 5
. 193
9,A
p. X
IV'
195
Eet
.ss3
xAB
93B
ased
on
Stat
. Abs
trac
t -19
44, T
bla.
242
, 244
1/ C
(274
)A
uto
Fact
s &
.Fi,g
ures
194
1, p
. 11
D
(17
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,H
(27
)E
at.
asD
x(i
ø)F
(44
(93.
4E
at.
Stat
.aaE
+A
bstr
aF ot 1
944,
' Tbl
. 456
0 H(4
11.0
GxH
I
75Ix
$la2
Mg/
3
2,536
1020
4A+
B+
D+
!÷F÷
G+
R+
2/3o
fC1,383
IG2O4RminnaQ
1,15
338
4'K
min
us L
Eat
, as
H x
'(33.
3%)
1/T
he c
oat o
f te
xtbo
oks
and
supp
lies
for
1938
, 191
.0, a
nd 1
942
was
est
imat
ed a
sthe average daily public achool attendance
tines
the
coat
of
text
book
s an
d su
pplie
s pe
r pu
pil
(Statistical
Abs
trac
t l9h
L T
able
s 21
.2 a
M 2
44).
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er y
ears
wer
e, e
stim
ated
by
linea
r in
terp
olat
ion.
2/T
his
cons
tant
wei
ght r
atio
equ
als
$75
mill
ion
4 41
0.6.
Initial
ooat
a of
mot
oriz
ed a
nd r
elat
ed e
quip
uent
(fi
re d
epar
nt a
ppar
atus
, roa
dco
nstr
uctio
n an
d m
aint
enan
ce e
quijm
*ent
, tra
ffic
e1,
gnA
lng
syst
ems,
etc
.) w
ere
estim
ated
at $
45 m
illio
n in
193
9, m
ainl
y on
the
basi
n of
Cen
sus
data
.R
elat
ed o
pera
tiona
l and
mai
nten
ance
pro
cure
men
t, in
193
9 w
as e
stim
ated
at $
30 m
illio
n,
K L N N
Stat
e an
d L
ocal
Gov
erm
eent
a —
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rdin
ary
Exp
endi
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pt f
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rent
hese
s)Ita
203
KE
at. n
ônad
mln
istr
ativ
e ap
onso
r8 p
rocu
rem
ent,
C.
Y.
LA
dmin
istr
ativ
e pr
ocur
emen
t, N
.Y.
C.
($
14)
14E
at.
N.
I. C
.payroll
(5N
)N
Rat
io, N
. T. C
. adm
inis
trat
ive
proc
urem
ent t
o pa
yrol
l (%
)o
Tot
al g
ross
cas
h pa
ysS
t.&
L. G
ovt.
PE
at. a
dm1n
ietr
atie
pro
cure
men
tQ
Eat
. adm
inis
trat
ive
proc
urem
ent &
pro
cure
men
t n.e
.c.
NT
otal
oth
er p
rocu
rem
ent e
xpd.
(T
o P&
B V
i 5)
Fina
ncia
l Sta
t, of
Sta
tes
1939
, ml.
12Fi
nanc
ial S
tat,
of C
ities
193
9, T
hi. i
5E
at.
as2
x B
A+
C—
Eat
,ma 0 x (60%)
10
102
DFinancial
Stat
, ofStates
1939
, Tbl
. 22
Eat
.as (P minus
G)x
(10%
)
Rep
ort o
nProgress
of W
PA P
rogr
am 6
/30/
39,
p.16
9(&
1940
)2
yr. m
ovg.
avg
.of I
Eat
,as I x (95%)
Special
Rep
ort,
Dep
t.N
et.,
see footnotef
LN 10201k
Est
.aaN
xOEat.
a. P
x.
(2.5
)(I
c20
2 B
+ C
+ J +
N)
+ (
Ic 2
03 E
+ H
.+ K
+ Q
)
/Inc
1ude
B s
tate
hos
pita
ls, i
nstit
utio
ns f
or th
e ha
ndic
appe
d,. a
nd o
orre
ctto
n in
stitu
tions
.&
IUev
Tot
* C
it7 p
ayro
ll w
as e
stim
ated
by
appl
ying
ave
rage
of
1941
and
194
2 ra
tios
of p
ayro
i1 (
Stat
istic
al A
bstr
act 1
91.2
, Tab
le 2
56, f
igur
esra
ised
to e
n an
nual
bas
is)
tO o
pera
ting
coat
s (F
inan
cial
Sta
tistic
s of
Sta
tes
1939
, Tab
le 1
2) to
the
annu
al d
ata
for
oper
atin
g co
ats.
132
Sou
rce
Ref
eren
ce
Oth
er p
rocu
rem
ent e
xpd.
(co
nt.)
AO
pera
ting
cost
s of
sta
te in
stitu
tions
1/
BO
pera
ting
cost
s of
city
hoa
p., 9
4 la
rge
citie
sC
Eat
, ope
ratin
g co
sts
of a
ll ci
ty h
oap.
DT
otal
ope
ratin
g co
ats
of S
t. &
L. G
ovt.
inst
itutjo
nE
Eat,
inst
itutio
nalprocurement
expd
.
FT
otal
pub
lic s
ervi
cerevenue
GTotal sales of alcoholic
beve
rage
mon
opol
y sy
stem
s
HEat, procurement
expd
.of public service enterprises
ITotal
nonl
abor
exp
d. o
f' sp
onso
rs' f
unds
on NM projects,
F.!.
3T
otal
non
labo
r ex
pd. o
f sp
onso
rs' f
unds
on
NFL
pro
ject
s,C
.!.
106
212
483
290-
958 69 416
1,16
395
(32
,238
)t3
o8, 6
25)
10.4
5)4,
168
436
1,09
0
2,59
1
A B C B N C H
0I J K L 14
-N 0 P Q R
of Purchase, N. !.
C.,
p. 46
Stat
e an
d L
ocal
Gov
ernm
ents
-O
rdin
ary
Exp
endi
ture
s(m
illio
ns o
f do
llars
)IG
204
•ta
3zen
t to
Con
trac
tore
Val
ue o
f ne
w p
ublic
oons
tr.
activ
ityi
•1Se
wag
e di
poaa
l + w
ater
eup
ply
cone
tr.
BM
isc,
non
fed.
gov
t. pu
blic
ser
vice
ent
erpr
ise
cona
trC
Publ
ic b
uild
ings
, ada
., he
ap. &
lnet
it. o
onat
r.D
Publ
ic b
uild
ings
, eth
ic.,
soci
al, r
ecre
atio
nal &
mis
c. o
onat
r.—
ZSt
ate,
cou
nty,
mun
icip
al h
ighw
ay c
onst
r.F
Publ
ic r
ae. c
onst
y,V
alue
of
publ
ic o
ouet
r, a
ctiv
ity f
or r
epai
rs:
Stat
e, c
ount
y, m
unic
ipal
hig
hway
rep
airs
Sew
age
disp
OB
sl +
wat
ersu
pply
rep
airs
Val
ue o
f no
uree
., co
nfer
s co
nBtr
. for
bui
ldin
g re
pair
sE
at, i
nsta
lmen
ts to
con
trac
tors
fro
m S
t.. &
L. G
ovt.
a/cs
J.Pu
blic
ada
., he
ap. &
inat
it. c
onst
r., F
ed. &
St.
& L
. Gov
ta.
EPu
blic
ada
., bo
ap. &
inat
it. c
onat
r., S
t. &
L. G
ovt.
LE
thic
., so
cial
, rec
reat
iona
l & m
isc.
Stat
e, c
ount
y, m
unic
ipal
hig
hway
con
etr.
Nfl
ea. o
oñat
r,0
Stat
e, c
ount
y, m
unic
ipal
hig
hway
rep
airs
PSe
wag
e di
spos
al +
wat
ersu
pply
rep
airs
QN
onre
s. b
uild
ing
repa
irs
RT
otal
St.
& L
. Gov
t. in
sta]
men
ts to
con
trac
tors
(T
o r.
B V
I T
)
162
Con
atr.
Act
ivity
in th
e U
. S.,
Spec
ial
Rel
ease
May
194
4, U
. S. t
pt. o
f C
airn
s191
Ibid
.27
0Ib
id.
450
Ibid
.86
9Ib
id.
76T
hid,
1/
629
Ibid
.79
Ibid
..42
7Ib
id.
I
0 N I
Sour
ce R
efer
ence
A B C D N F 0 H
174
Cx(
E.,4
%)2
/3
117
Jx(6
7%)/
I29
1D
x(6f
f.4%
Ja/.
L51
5N
x (
59.3
%)
/N
70Fx
(92.
i%)&
/N
74G
x(1l
.8%
)2J
063
Hx(
8C%
)[P
142
Iz(3
3.3%
Jg/
Q
1,52
5A
+B
+L
tbru
Q3f
R
1/D
urin
g th
e w
ar a
par
t of
publ
ic r
esid
entia
l con
stru
ctio
n im
c fe
dera
l.Se
e A
pp. B
, Wor
kshe
et E
-6-C
.1/
Thi
s w
eigh
t rat
io is
the
ratio
of
estim
ated
inst
alm
ents
to c
ontr
acto
rs b
ased
on
adJu
sted
193
9 C
ensu
e of
Con
stru
ctio
n da
ta to
the
1939
estim
ates
of
Con
stru
ctio
n A
ctiv
ity in
the
Uni
ted
Stat
es (
Spec
ial R
elea
se, M
ay 1
944)
, U. S
. Dep
artm
ent o
f C
oam
ierc
e.Fo
r th
e w
eigh
t rat
ios
see
App
. A 3
ix.
Rev
ised
Cca
mne
rce
Dep
artm
ent e
stim
ates
of
óons
truo
tion
activ
ity b
ecam
e av
aila
ble
too
late
for
incl
usio
n in
this
stu
dy.
/A w
eigh
t rat
io o
f 10
0 pe
rcen
t app
lies
both
to li
ne A
and
to li
ne 8
.Se
e A
pp. A
3 ix
.
Sta
te a
loca
lGoy
ernt
s —
Ord
inar
yE
xpen
ditu
3'es
(miil
iona
ofdo
l2.a
rs)
-22
'Soo
eR
efer
enIm
aanc
eB
énef
its
AP
aym
ents
und
erSt
. & L
. Gov
t.re
tireu
mat
syat
ene
157
Stat
. Abs
trac
t 194
3, T
bl.
imA
8W
orks
en'e
com
pens
atio
n be
nefi
ts68
Soci
al S
eOU
Zi B
elL
.an
. 191
.2, p
.32
8
CT
otal
ins,
ben
efits
pd.
(T
o cB
VI
U)
225
-C
Publ
ic P
urno
pe P
aym
ents
DT
otal
pib
lic a
ssis
tanc
e (F
ed. G
ovt.
+ S
t. &
L. G
ovt.)
'1,
068
Sta
t,A
bstr
act.
1943
Th1
. 204
EFe
d. G
ovt.
pibl
ic a
ssis
tanc
e pa
ymen
ts m
el. I
nD
276
App
. B, W
orks
heet
s A
-2—
K)
+ (
K-5
--P)
E
FSt
. & L
e G
ovt.
publ
ic a
ssis
tanc
e (T
o ..
VI
v)-
792
D m
ines
B-
F
OSt
ate
acot
a. (
depo
sits
) in
to. i
inai
..pT
hyne
ntco
mpe
nsat
ion
fund
s (T
o }!
cB V
I W
)83
0So
cial
Sec
urity
Yea
rboo
k 19
1.2,
p. 9
6C
HO
ther
inte
rgov
t. tr
ansa
cti'o
na (
To
P&B
VI
I)1,
591
W 1
04 S
-
IT
otal
Ord
inai
end
iture
ff (
To
P V
I 1)
12,4
78(I
L 2
01 A
+D
+B
-+
G)
+ (
lB 2
03 a
) +
I(l
fl2o
4R)+
(1fl
205C
+F+
G+
H)
Stat
e an
d. L
ocal
Gov
ernm
ents
—Lc
anfa
10 3
01(m
illio
ns o
fdollars)
Socaoe
Ref
eren
ceA
ssrS
, DE
CZ
R 3
1C
urre
ncy
end
Der
osite
AT
otal
bk.
dep
osits
of
stat
es &
political
subd
ivis
ions
3,&
53,
512
Co.
pt. o
f th
e C
urre
ncy,
Ann
. Rep
ort 1
940,
AT
bl. 5
4 (&
193
9)B
Ret. cash on hand
100 /
•10
0U
npub
.Fed. Rae.
Mem
o(R&S 1147 Rev.) Dec. 1945,
Bml. III
CT
otal
currency & deposits
(To
P&B
VI
b)3,
71,5
3,61
2A+ B
leans and Securities
,-
Ded
. Gov
t. ob
ligat
ions
(T
o P&
B V
I C
)30
030
01.
0 10
1 A
BSt.
&L.
Gov
t. ob
ligat
ions
3,96
84,
039
2 yr
. mev
g. a
vg. o
f ID
101 D
FO
ther
juT
.623
633
Rat
, as
CD
+z)
x 14
.6%
/F
0T
otal
oth
er th
an F
ed. G
ovt.
oblig
atio
ns4,
591
4,61
72(T
oP&
BV
Id)
UTotal Zeanfunds
Rec
eiva
ble
(To
B V
I e)
8,63
6C
+D + 0
H
LIA
Bn.
rr, D
RM
BE
R 3
1I
Gro
ssdebt,
St. &
L. Govt., Je.
3019
,576
19,9
96ID
201
B.1
Gross
debt
, St.
&L
. Gov
t., D
ec.3
1 (T
o P&
BV
If)
19,7
8620
,121
Zyr
.wvg
. avg
. of!
on h
and
for
1935
—19
38 w
as a
ssum
ed to
be
$100
mill
ion.
&/S
eefootnote ,/
to £
0101.
Ban
ks e
nd U
. S. n
etar
y Fu
nds
— O
rdin
ary
Receipts
(millions
of d
olla
rs e
xcep
t for
fig
ures
. in
pare
nthe
ses)
BK 101
ge1i Dividends
ADlv, recd. by Bks. & U. S.
*rn.
Funds (To P&B VII a)
Cas
hInterest
Bmt.
& d
iv. e
arni
ngs,
ins. Comm. bks.
CLoans & see,
held
by
ins.
coma. bks., Dec. 31
DL
oans
&see.
held
by
mom
ma.
comm. bks., Dec. .31
ER
atio
, loa
ns& sec.,
noni
ns. t
o in
s. c
omm
. bks
. (%
)
FE
at. t
nt. &
dlv.
earn
ings
, non
tha.
comm.
bks.
CL
ot. &
div
. ear
ning
s, in
s, m
utua
l svg
a. b
ks.
ins.
tua1
svgs.
bks.
momma,
mut
ual o
vgs.
bk.
noun
s, to
ins,
mut
ual
KE
st. t
nt. &
dlv
. ear
ning
s, n
onin
s. m
utua
lsvga. bks.
LIn
t.&dlv.
earn
ings
, all
bka.
Lot
. & d
lv. r
eed.
KPo
stal
-Sv
ga. S
yat.,
F. Y
.
Post
alSvga.
Syst
.,Y.
Exch.
Stab
. Fun
d-
Fed
.R
es.
Bka.
Lot. & dlv. reed, by Bks. &
•
S.
bn.
Funds
45B
xE48
-F
ed.
Dep
osit
Ins.
Cor
p., I
nn. R
epor
t 194
0,Fb
i. 15
8Id
em, F
bi. 1
18Ib
id.
I.H
319
GxJ
1,66
0-
B+
F+
G+
K
32Postmaster General, Ann. Report 3.939
(&
194.
0),-ml.
U33
2yr. muvg. avg. of M
6.
Tre
asur
yBull. Apr. 1940, p. 53
Fed. Res., Ann. Report 1939, Tbl. 5
L+ N + 0 + P
A. B
anki
ng &
)ne
tary
Sta
t., F
bi. 9
8Q
min
usCR
+ S
)
96St
at, o
f In
com
e 19
39, P
t. 2,
Fbi
. 3,P
t. I
U
H I 3
Loa
ns &
sec
. hel
d by
Loa
ns &
see
,held by
Ratio, loans
& s
ec.,
svgs
. bks
. (%
)
Source Reference
23,
Surv
ey o
f C
urre
nt B
usin
ess
Apr
. 194
6,A
p.18
1,24
8Fed,
Dep
osit
Ins.
Corp.,
Ann
. Rep
ort 1
940,
m].
3,3
9•39
,294
Idem
, Fbi
. 118
1,43
5Ibid.
(3.6)
D.C
37,4
751,
311
9"
9,17
11,
329
8,83
?(6
65.0
)
N 0 P Q R S F
Div
. ree
d, b
y B
ks. &
U. S
. Non
. Fun
dsD
lv, r
eed,
by
mem
ber
bks.
from Fed.
Baa
. Bka
.L
ot. r
ecd.
by
Bks
. & U
. S. N
on. F
unds
(T
o P&
B V
II B
)
Gpo
s R
ents
U'
Ren
ta&
roy
altie
sreed.,
corp
. bks
.& trusts
cos,
(To
.B V
IIC)
B -C D K F & H I 3 K L N N 0 P Q R S
381,
737 23 8
1,70
6
Ban
ks a
nd U
. S. ,
neta
ry F
unds
-O
rdin
ary
Rec
eipt
sB
K 1
02(m
i].li
ona
of d
olla
rs e
xcep
t for
fig
ure
inpa
rent
hese
s).
Sour
ce R
efer
ence
Rec
ejpt
p fr
om C
usto
mer
sC
omm
., fe
es, s
ervi
ce c
harg
es, e
tc •
AIn
s. c
omm
. bka
.
BIn
s. u
ntua
l svg
a. b
ka,
CA
ll in
s. b
ks.
DL
oans
& m
v., a
ll bk
s., D
ec. 3
1B
anki
ng &
)4,
neta
ry S
tat.,
Tbl
. 2E
loan
s &
mv.
, all
ins.
bka
., D
ec. 3
1Fe
d. D
epos
it In
s. C
orp.
, Ann
. Rep
ort.
1940
,-
Th1
.U8
FR
atio
, loa
ns &
mv.
, all
bks.
to a
ll in
s. b
ka. (
%)
GE
at.
com
a., f
ees,
ser
vice
cha
rges
, etc
., al
l bks
.H
Oth
er c
urre
nt n
et-e
arni
ngs
& r
eim
burs
emen
ts, F
ed. R
es. B
ks.
IG
ross
ren
ts r
ecd.
by
Bka
. & U
. S. I
4n. F
unds
3T
otal
rec
eipt
s fr
om c
usto
mer
s, B
ks..
& U
. S. )
n. F
unds
(To
PAD
VII
D)
Insu
ranc
e B
enef
itsK
Ins,
ben
efits
pd.
by
All
Iris
.Carriers to bus. (exci. Fares)
L.
Eat
.ins,
bene
fits
pd. to Bka. & U. S. 1n. Funds
NFed. Deposit Ins. Corp. payments
a/c
cloóed bks.
NTotal ins, benefits reod. by Bks. & U. S.
14'n
. Fun
ds.
(To }B VII E)
0T
otal
Ordinai-v Receista
(ToB VII
F)
ilFor
1939
weight
ratio
see
App
.A 3
x.
•
1,8,
831
50,8
8538
,448
40,6
23357
Fed.
Dep
osit
Ins.
Cor
p..,
Ann
. Rep
ort 1
91.0
,A
Tbl
.]39
9LI
en,
Thl
. 158
366
A+
BB C D F
(125
,2)
D..E
458
CxF
.G
6.
Fed
.R
es.,
Ann
. Rep
ort 1
939,
Tbl
. 5H
96B
E1O
ID.
-I36
8(G
+H
)mjn
usl
.
551
1C10
20K
14E
at, a
s K
x (
2.5%
) /
Fed
.D
epos
it In
s. C
orp.
, Ann
. Rep
ort 1
944,
14-
Tbl
.827
L+
MN
2,22
00
Ban
ks e
nd U
, S. n
etar
y Fu
nds
—O
rdin
ary
Exp
endi
ture
sB
K 2
01(m
illio
ns o
f do
llars
exc
ept f
or f
igur
es in
par
enth
eses
)
Gro
ss C
ash
YA
Payr
oll,
Uka
. & U
. S. I
'bn.
Fun
dsB
Dir
ecto
rs' f
ees
CT
otal
gro
ss c
ash
pay
(To
P&B
VII
J)
Caa
h D
ivid
ends
DD
lv. p
d., i
ns. c
oma.
bks
. 1/
ET
ime
depo
sits
, all
ins.
com
e. b
ks.,
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Tim
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d.Rca., Ann. Report
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,Tbl. 5
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BFed. Deposit Ins.. Corp., Ann. Report
CD
Fed.
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Ins.
Cor
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nn. R
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t 191
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Fed. Res., Ann. Report
1939
,Tbl. 5
1Ib
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566
J+K
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47B
1201
853
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, of
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bl. 3
, Pt.
IB
K 2
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20
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BK
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A C D B F H I. 3 K L N N 0 P Q B S U
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RPremiums d. to Fed.
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p.Fed. Deposit Ins. Corp., Ann. Report 1940,
R-
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ST
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T
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VII
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U
____
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____
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____
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K20
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App
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ix:
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For
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ghtratio
see
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ASS
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00 m
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Thl
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asur
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Apr. 1940, p. 52 (&
1939
)L B+C÷D+ E+F
Ban
ks a
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A B C B N F. 0 H I 3 K L N N 0 Q.
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Sour
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Apr
.1940, p. 52 .(&
1939
)
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52,
015
(A + B) minus (C +
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25,985
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21,279
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onet
ary
Stat
., T
hi. 8
5511
864
Com
pt. o
f C
urre
ncy,
Ann
Rep
ort 1
940,
a,'
/m
ici.
5425
Fed.
Dep
osit
Ins.
Cor
p., A
nn. R
epor
t 194
0,m
l. 11
9 (&
193
9)49
19T
reas
uryBUU., Apr. 1940, p. 52 (&
1939
)60
71,
217
(+
. K)
min
us(L
+14
+N
)61
,318
66,4
86E
÷?÷
G+
H÷
I,.0
67,9
5873,019
(BK
301
F) +
(B
K 3
)
ES
.? H I
ml. 55.L'
K L '4.
ii-Ô
P Q
A B C H P C H I K L N
3,62
988
9 731,
800
3,04
384
6 741,800
A B C D
and
)net
ary
Stat
istic
s, ta
ble
21, w
hich
incl
udes
data
for
mem
ber
bank
s on
2.y.
Ban
ks a
nd U
. S. M
,net
ary
Fund
s —
Val
uatio
nA
djua
ent
BK
303
(mill
ions
of d
olla
rs e
xcep
t for
fig
ures
In
pare
nthe
ses)
Sour
ce R
efer
ence
Val
uatio
n G
ame
(Net
)A
Los
ses
on lo
ans
& s
ee.,
ins.
com
m. &
mut
ual s
vga.
bka
.36
3Fe
d. D
epos
it In
s. C
orp.
•A
nn.
Rep
ort 1
939,
AT
his.
140
, 155
BA
U o
ther
loss
es, c
harg
e—of
fs, e
tc.,
ire.
com
m. &
101
-Ib
id.
B
mut
ual s
vga.
bks
,C
Tot
al c
apita
l los
ses,
all
ins.
bks
.46
4A
+ B
C
DPr
ofits
on
see,
sol
d, r
ecov
erie
s, e
tc,,
ins.
.&
35'?
Fed.
Dep
osit
Ins.
Cor
p., A
nn. R
epor
t 193
9,D
mut
ual s
vga.
bks
.T
his.
140
, 155
HA
ll ot
her
reco
veri
es, e
tc.,
ins.
com
m. &
mut
ual s
vga.
bks
.38
Ibid
.B
FT
otal
cap
ital g
ains
, all
ins.
bka
.39
5D
+ B
p
GN
et c
apita
l gai
ns, a
ll in
s. b
ks,
—69
F m
inus
CG
HR
atio
, loa
ns &
fry
.,al
lbks
. to
all i
ns. b
ks. (
%)
(125
.2)
BK
102
FH
IE
st. c
apita
l gai
ns, a
ll hk
e;86
Eat
, as
G x
HI
rF
ed.
Has
. Bks
. pro
fits
on
sale
of
5Fe
d. B
eg.,
Ann
. Rep
ort 1
939,
Tbl
. 53
KSp
ecia
l res
erve
s &
cha
rge—
offs
2Ib
id.
K
LN
et v
alua
tion
gain
s, F
ed. R
es. B
ks.
+ 3
3 m
inus
KL
M. N
etva
1uat
iong
amns
,Bke
.&U
.S.M
fl.F
tIfl
ds(T
o1cB
VII
g)—
83-
I+L
Cas
h D
ivid
ends
AD
iv.
recd. •
Ui
Ins. Carriers
BEat, cash div. reed., Life Ins. Cos. (To P&B VIII A)
Net
Pay
men
ts f
or R
eal E
stat
eTransfers
F.
Rea
l est
ate
owne
d, D
ec.
31
GSa
les
min
us p
urch
ases
of
real
est
ate
during
C. '
V.
(at
book value)
HProfit on sale of real estate
-
I-Lo
sson
sal
e of
rea
l est
ate
JN
et g
ains
a/c
rea
l est
ate
transfers
KE
at, n
et p
aym
ents
for
rea
l est
ate
tran
sfer
s (T
o P&
BV
IIID)
Insu
ranc
e Pr
emiu
ms
Lif
eins, premiums:
LT
otal
pre
miu
mincome, all Life Ins.
Cos
.M
Div.
appl
ied
to p
rem
ium
s, 4
Lif
e In
s. C
os.
ND
iv. p
d. in
cas
h, 4
Lif
e In
s. C
oi. /
0D
lv, l
eft t
o ac
cum
ulat
ejot., 4 Life
-Ins
,Coa. ,/
PT
otal
dir
, to
polic
yhol
ders
,4
Lif
e :I
ns. C
os.
QT
otal
dlv
, to
polic
yho1
ers,
all
Lif
e In
s. C
os.
RR
atio
, dlv
. to
polic
yhol
ders
, all
Lif
e In
s. C
os.
to 4
Life Ins. Cos.
SE
at.
div. applied, all Life Ins. Cos.
IE
at. d
iv. u
d. in
cas
h,all Life Ins. Cos.
U-
Eat
. div
. lef
t to
accu
mul
ate
mt., all Life Ins. Cos,
1,00
4T
he S
pect
ator
,Life Ins.
Vol
. 191
.0, p
. 136
A980
Cm
inus
B
19'?
The
Spe
ctat
or,
Life Ins. Vol.
1940
, p. 1
36k
K
3,82
5T
heSpectator, Life Ins. Vol. 1940,
p.136 A
196
N. V. Ins. Report Vol. I 1940,
pp. 23, 73, 111, 415
60
Ibid
.'33
Ibid.
289
M+N+0
457
The
Spe
ctat
or,
Life Ins.
Vol
. 194
0, p
. 136
A(1
.58)
Qj.P
310
Est. asMxR
S
95Eat. asNxR
T52
Eat, as 0 x R
Lif
e In
sura
nce
Companies —
Ord
inar
yR
ecei
pts
(mill
ions
of dollars except for figure
in p
aren
thes
es)
a,
Cash Interest
C"Int. income
reed
., L
ife
Ins.
Cos
. (in
ci. d
iv. o
nstock)
DC
ash
lot,
reed
., L
ife
Ins,
Cos
.(excl. dlv, on stock)
(To P&B
VII
IB)
KG
rasp
Ren
ts (
To
P&B
VII
I C
)-
L11
01-
0
2.22
1S
ourc
eReference
96St
at, o
fIncome 1939,
Pt. 2
, Thi
.3,
Pt. I
24Est, as A x (25%)
A B C D
2,17
72,
134
Ibid.
43
Decrement In
F
14
N. V
. Ins
. Rep
ort V
ol.
I 1940, p. 125a
74
Iden
, p. 1
29 a
—60
Rm
inus
l—
17Eat. asG+J
F G H I K L M N'
0 P a
illhe
fou
r co
mpa
nies
are
Equ
itabl
e L
ife
Assurance Society, Metropolitan Life Insurance Company, New 'York Life Insurance
Com
pany
, and
Prudential
Insu
ranc
eCompany of America,
Lif
e In
sura
nce
Com
pani
es—
Ord
inar
yR
ecei
pts
ui
(mill
ions
of
dolla
rs e
xcep
t for
fig
ure
In p
aren
thes
es)
-
Sou
rce
Ref
eren
ceJa
nce
Prem
ium
s (c
onti
-
AM
isc.
exp
d., L
ife
Ins.
Cos
. 2,!
283
N. Y
.Ins
. Rep
ort V
ol. 1
1940
, pp.
126
a-l2
9aA
BPa
yrol
l, L
ife
Inn.
Cos
,: A
x 1
91.2
rat
io o
fpay
roll
427
A x
150
.8%
)B
to m
isc.
exp
d., L
ife
Ins.
Cos
.-
CContributions
to p
ensi
on f
unds
, All
Ins.
Car
rier
s36
File
s, U
. S. D
ept.
ofComm., Nat. Income
Div
.C
(joe
l. in
s, a
gent
s &
com
bina
tion
offi
ces)
DPa
yrol
l, A
ll In
s. C
arri
ers
(mci
. ins
, age
nts
888
Ibid
.D
&combination offices)
HBatió, contributions
topension
frad
s to
payroll
(%)
(4.0
54)
CD
H
FEat, contributions
topension funds, Life
Ins.
Cos
.17
Eat,
asB x H
F
GTotal life premiums
(ToP&B
VII
IH)
3,498
(LI 101 Lminus
S) m
inus
(LI 102 F)
G
HAccident & health
prem
ium
s13
9T
he S
pect
ator
, Cas
ualty
&Surety Vol. 1940, p. ZX
HI
Eat. div. applied to premiums
7H x (5%)
I
JT
otal
cas
ualty
prerri.iuma
recd
., L
ife
Ins.
Coo
.13
2H
J(T
o P&
B V
III
F)
E T
otal
Ord
inar
yRac
ejot
s (T
o P&
BV
IIIG
)4,
8)4
(LI1
01B
+D
+Z
+K
)+(L
I1C
2G-i
.J)
K
2/In
clud
es a
genc
y su
perv
isio
n an
d tr
avel
ing
expe
nses
of
supe
rvis
ors,
bra
nch
offi
ce e
xpen
ses
and
sala
ries
, med
ical
exa
min
atio
ns a
nd in
spec
tions
,sa
lari
es o
f of
fice
rs, d
irec
tors
and
hom
e of
fice
em
ploy
ees,
hom
e of
fice
trav
el, a
nd r
ent a
nd m
isce
llane
ous
expe
nditu
res
as r
epor
ted
in th
e fy
Vor
k In
sura
nce
Ran
orts
./T
hia
-is
the
1942
rat
io o
f pa
yrol
l of
Lif
e In
sura
nce
Com
pani
es .(
$481
mill
ion)
as
repo
rted
In
a sp
ecia
l rel
ease
of
the
Prog
ram
Div
isio
n of
the
Fede
ral S
ecur
ity A
genc
y to
line
A (
$319
million in 191.2).
--
-
0 '0
Lif
e In
sura
nce
Com
pani
es-
Ord
inar
yE
xpen
ditu
res
LX
201
(mill
ions
of
dolla
rs e
xcep
t for
-fi
gure
s in
'par
enth
eses
)I
-S
ourc
eR
efer
ence
Gio
eaCash
Pay
AD
irec
tors
' fee
s,A
l]In
s, C
airi
ers
2Fi
les,
U. S
. Dep
t. of
Com
a,, N
et,
Income Div.
A
BR
et, d
irec
tors
' fee
s,Life
Ins.
Cos
,1
Eat
, as
A x
(50%
)B
CPa
yrol
l, L
ife
Ins. Cos.
,.
/.27
LI
lc
DT
otal
gro
ss c
ash
pay
(To
.B V
III
K)
''
428
B +
CD
-
Cas
h D
ivid
ende
''
'-
ZD
iv. p
d. to
sto
ckho
lder
s (T
o B
VII
I L
) .
19-
The
Spec
tato
r,Life
Ins.
Vol
. 194
0, p
. 136
AE
Div
iden
ds W
lthdr
anby
Palic
yhol
ders
(In
sura
nce
Prem
ium
s)F,
Eat
. div
. pd.
In
cash
to p
olic
yhol
ders
95
,LI
101
T,
F0
Bet,
new
div
.left to
accu
mul
ate
mt.
duri
ngC
1.52
LI
101
UH
Acc
rued
dlv
. & o
ther
pol
icyh
olde
r fu
nds
left
on
depo
sit
-/.0
844
7N. I. Ins. Report Vol. I 191.0, p. 123a
HDec.
31, N
. V. I
ns. R
epor
t 1/
-
IT
otal
admitted
asse
ts, S
pect
ator
, Dec
. 31
,27
,755
29,2
43T
he S
pect
ator
,Life
Ins.
Vol
. 194
0, p
. 136
AI
3T
otal
adm
itted
ass
ets,
N. V
. Ins
. Im
epor
t,24
,293
25,6
15N
. V. I
ns. R
epor
t Vol
. .1
1940
,p.
119s
,3
'Dec
.3l3
,/-
KR
atio
, tot
al a
dmitt
ed a
sset
s, S
pect
ator
to
(1.
14)
C1.
14)
I3
N, V
. Ins
.R
epor
tAccrued div.,
etc.
left
on
depo
sit,
Dec
. 31'
465
510
Ret
, as
H x
KL
P11LifeIna.
Cos
.-
-'
''
'-
-'B
at.
lot,
accrued on
dlv.
left
to accwnulate
15E
at, a
s L
x (
3%)
14
NG
ross
Inc
reas
e du
ring
C. I
. in
liabi
lity
for
67
G +
N,
'N
accr
ued
div.
& lo
t.0
Incr
emen
tIn net
liabi
lity
for
'acc
rued
div. 1,. jot.
45In
crem
ent i
n L
'-
0
p -
Eat
,w
ithdr
awal
s of
div
., et
c. le
fton
depo
sit
,22
Edt
. an
N m
imw
0p
Q,
Eat
,to
tal d
lv. w
ithdr
awn
by
polic
yhol
ders
, mci
. with
—fl
'7F
4. p
'Q
draw
ala
of lo
t, on
dlv
, lef
tto
accu
mul
ate
(To
P&B
VII
I 14
)V
'flG
ross
Rent
(To
'cB
VII
I N
)30
The
Spe
ctat
or, L
ife
Ins. Vol.
19/.0
, p. 1
36 A
R
2/D
ata
in the
New
Yor
k In
sura
nce
Rec
ort c
over
on1
. com
pani
esauthorized
to o
pera
tein New
YO
rk S
tate
.
Lif
e In
aira
nc. C
ompa
nlee
—O
rdin
ary
rpeM
itiir
e.(m
illio
ns o
f do
llars
exc
ept f
or f
igur
e in
pez
enth
eeee
)L
I
Scoo
t be
Lif
e In
s. C
o.. a
s C
oato
mer
e£
Spen
tfor
ocan
. (T
oBV
IIIP
)Pz
ocur
eren
t ezp
d. $
BH
it. m
isc.
jwoc
uran
snt .
xpd.
CT
azea
& r
epai
r. o
n re
al a
etet
sB
Est
. rep
air.
'on
real
eet
atI
)dio
a3. .
w4r
.*tio
ne &
insp
ectio
nsI
Mis
c. e
xpd.
of
Met
. Lif
e In
s. C
o. (
to th
e.•
esar
eet t
enth
of
a ai
l.lio
n do
llar.
)1/
0M
et, m
isc.
.xpd
. of
all L
ife
In..
Co.
.H
Hit,
oth
er p
rocu
rsue
nt e
zpd.
(T
o 1J
VII
I Q
)•
In.t.
li.en
t. to
Con
trac
tor.
IT
hste
lmen
ts to
con
trac
tor.
fro
m B
ka. &
U. 8
.M
en, F
onda
.H
it. in
stal
men
ts to
con
trac
tor.
, Lif
e In
s. C
o.,
(To
.—V
IIIa)
KT
azea
Col
lect
ed (
To
PB V
III
8)In
sura
nce
Ben
efit.
. Lif
e Ib
lioie
aL
Tot
al $
. to
polic
yhol
der.
(ex
ol. d
iv.)
ItT
n'—
' les
s di
abur
sene
nt. o
n su
pple
nent
asy
cont
ract
s no
t ino
1vin
g lif
e oo
ntin
gaci
s.I
Tot
al li
fe p
oU b
enef
its (
To
8 V
III
T)
264
The
Spe
ctat
or, L
if. I
ns. V
ol. 1
940,
p. 1
361
a
Eat
. as
LI
201
C x
(10
%)
I. I
. Ins
. Rep
ort V
ol. I
194
.0, p
. 12'
.M
et, a
s C
x (
25%
)N
. !.
Rep
ort V
ol. I
194
0, j.
J9Id
en, p
.
28!e
t.as5
xP11
6B
+D
+I+
0
49B
L2O
3BI
12E
et,a
slx(
25%
)&/
131
LI2
IIP
K
2,18
5T
he S
pect
ator
, Lif
e In
s. V
ol. 1
940,
p. 1
36 1
111
Ibid
.
2,07
4L
min
n.W
IIn
sura
nce
Ben
efits
. Cas
ualty
Pol
icie
s0
Cas
ualty
ben
efitc
+ d
lv.
PE
at. d
lv. a
pplie
d to
red
ootio
nof
pren
iuQ
Tot
al o
araa
lt) p
olic
y be
nefi
tepO
. (T
o V
IIIU
)
I T
ot.a
l0rd
inas
'rt,e
mdi
ture
a(T
opV
IflV
)'
3,25
3(L
I2O
1D+
H+
Q#R
)+(L
1202
1.H
+J.
K.I
+Q
Jft
lega
l exp
ense
s, f
urni
ture
aed
fix
ture
s, p
rint
ing
and
stat
ions
a7, b
ooks
, n.v
.p.r
a an
d pe
riod
ical
s, p
oeta
gs, e
sse,
tele
phon
e,t.l
papb
, adv
ertis
is, •
and
heal
th a
nd ..
1far
e m
erk.
&8.
s A
pp. 1
3 ix
,
43 131
33 12•(
5.5)
B C B I P 0 H L It
69T
b. S
pect
ator
, Cas
ualty
& S
uret
y V
ol. 1
940,
p. W
7L
I1I
62O
min
uaP
0 P Q
Supp
lem
ent t
o O
rdin
ary
Rap
endi
ture
eL
I 2U
Tax
es C
olle
cted
fro
m A
ll In
sura
nce
Car
rier
s(m
illio
ns o
f do
llars
exc
ept f
or f
igur
es in
par
enth
eses
)
22C
orm
orat
e In
com
e an
d E
xces
s Pr
ofit
Tax
esA
Tot
al F
ed. &
St.
& L
. inc
ome
& r
elat
ed ta
xes
colle
cted
1,22
3
Fed.
inco
me
& e
xces
s pr
ofits
taxe
s ac
crue
ddu
ring
pre
viou
s yr
. on
inco
me
ofB
-All
Tra
nsac
tor
Gro
ups
CA
ll In
s. C
arri
ers
DR
atio
, All
Ins.
Car
rier
s to
All
Tra
nsac
tor
Gro
ups
(%)
EE
at. i
ncom
e &
rel
ated
taxe
s co
llect
ed f
rom
. All
Ins.
Car
riers
Payr
oll T
axes
FT
axab
le p
ayro
ll, 1
11 T
he. C
arri
ers
oR
atio
,pa
yrol
l tax
es p
d. b
y em
ploy
ers
to ta
xabl
e pa
yrol
l (%
)H
Payr
oll t
axes
, All
Ins.
Car
rier
s-
'St.
& L
. Gov
t. T
axes
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1938
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hi.
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•27
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1941
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1940
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1939
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39 N
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Insu
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1940
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II 1
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I 19
40, p
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194
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inparentheses)
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, Ins
. Rep
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ol. I
I 19
40, p
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AB
Rat
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s re
ed,,
Spec
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. Ins
. Rep
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, Ins
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ol. I
II 1
940,
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.(1
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Insu
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1939
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to01
101.
.
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ordiscussion of 1939 weight ratio see footnote 2J to
01102.
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N. I
. Ins
. Rep
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ol. I
II 1
940,
p.
Ibid
.£4
1St
at. A
bstr
act 1
942,
Tbl
. 350
Fst.
as C
x V
NT
. 7. I
ns. R
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t Vol
. III
194
0,O
I1O
1Q
52E
st.a
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H
B C B L 7 a a I 8 V U 7-
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0
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939)
N. 7
. Ins
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ol. I
I 19
40, p
. 19*
(8
1939
)Ib
id.
740.
-
Sta
t.A
bstr
act 1
942,
Tbl
. 341
--
242
324
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40 41
-I
p.5b
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39)
I-
-
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208
238
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201
166
61L
LT
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1940
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647
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330
305
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781
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597
625
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2526
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173
4__
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the
1ev
Yor
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sura
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Rsw
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over
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span
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orie
d to
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rate
in R
ev Y
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Stat
e.
N N 0 P a a
Oth
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naur
aflo
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er. —
Loan
fuad
s01
3(.
illio
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f do
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wep
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fig
ures
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123
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mid
Seo
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asua
lty in
s. O
O.$
£lo
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v., N
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1,28
61.
!. I
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.111
194
0, p
. 21.
A
BT
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I. Y
. Ins
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BE
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198
214
II.
Ins.
Rep
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ol. I
II 1
940,
pp.
36,
V19
7, 3
59, 3
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& 1
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941,
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5, 3
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40)
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HR
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, N. I
. Ins
. Rep
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/2,
141
2,16
7N
. I. I
ns. R
epor
t Vol
. II
1940
, p. l
9a3
KT
otal
ada
itted
ass
ets,
N. Y
. Ins
. Rep
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/2,
580
2,69
001
301
G-
LR
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mv,
to to
tal a
daitt
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sset
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O)
(.80
3)3
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N. 1
. Ins
. Rep
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reis
NT
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ada
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Spe
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75l
2,84
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301
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at, l
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all f
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283
2,28
1E
at, a
s L
x N
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adai
tted
asse
t. ba
il.•
0A
itted
ass
et.,
3 fi
re &
sar
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ins
..•/
348
N. I
. Ins
. Rep
ort V
ol. I
I 19
40, p
p. 6
8,0
130,
552
(&
193
9)
PL
edge
r as
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c.. 3
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829
7Id
ea, 1
941,
pp.
70,
130
, 551
(&
194
0)P
QR
atio
, led
ger
asse
te to
ada
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ass
et.
(.86
??)
(.85
3)P
40Q
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1,94
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t, as
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Ths
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ed to
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rate
in R
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ort S
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four
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s ar
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Aet
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.,, U
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nd O
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Oas
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rica
n Is
aber
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s R
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The
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are
Con
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tal I
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Cce
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Insu
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Car
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s —
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of
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fig
urer
in p
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es)
Sour
ce R
fera
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0130
3
Inan
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d Se
curi
ties
(Con
t.)Fr
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nefi
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LT
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. ('io
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see
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o P&
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L T
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s R
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To
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Tec
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kpsr
No.
5, R
at. N
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Res
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h, 1
947,
ml.
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301
V)
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03 I
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747
784
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.(1
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. 1. l
bs. R
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. XII
194
0, p
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01 3
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1,39
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80 597
6,35
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016
625
6,1.
80
6,30
0
],05
o5,
250
5,43
0
7,21
4
A B C.
D V G.
H 'I J K L
1/D
at. i
n th
e is
v Y
ork
Ibau
rano
. Rep
ort e
c'rs
r on
ly o
o'sp
niee
aut
hori
s.d
to o
pera
te in
New
10*
' Sta
t.,/T
hie
appo
rtio
nmen
t i. b
ased
on
the
roun
ded
aver
age
of 1
91.1
and
194
2 ra
tios
of m
arke
tabl
e so
d no
zaar
heta
ble,
inte
rest
-bea
ring
fed
eral
obl
ige.
.tio
na h
eld
by ti
re, c
asua
lty, a
nd m
arin
insu
ranc
e 'o
cupe
nies
to th
e to
tal o
f su
ch s
ecur
ities
hel
d by
thes
e cc
mps
zd.e
plu
s lif
e in
sura
nce
cr.'i
es (
Tre
asur
y la
nual
Ret
,ort
_19.
43, T
able
96)
..
Oth
er I
nsur
ance
Car
rier
s —
Val
uatio
nAdjustment__—
(mill
ions
of dollars except for
figu
res
in
pare
nthe
ses)
Ins. cos. n.e.c.:
PNet valuation losses, All Ins. Carriers
(exc
i.ins. cos. n.e.c.)
108
QE
at,
net valuation losses, ins.
cos.
n.e.c. +
omis
sion
s11
11
Total net valuation losses, Other ins. Carriers
•+
4].
./Inc
luda
s lo
ss(or profit) on sale, maturity and
decr
ease
(or increase) in book
valu
e of
ledg
er a
seta
.in
the
Ner
Yor
k In
sura
nce
Rep
ir c
over
onl
y co
mpa
nion
aut
hori
z"d
to operate in New York State.
/Seo
foot
note
/to
01 1
01.
01 304
urce
Ref
eren
ceS
.22
Val
uatio
n L
osse
s (N
et)
Cas
ualty
ins.
cos
.:.
.
A B C D
Val
uatio
n lo
sses
, N. Y
. Ins
. Rep
ort 2
/V
alua
tion
gain
s, N
. Y. I
ns. R
epor
t,fN
et v
alun
tion
loss
es, N
. T. I
ns. R
epor
t 2J
Rat
io, p
rem
ium
s re
cd.,
Spec
tato
r to
N. Y
. Inn
.R
epor
t 2/
20
13 7
(1.383)
N. Y. Ins.
Rep
ort
Idem
, p. 1
9aA minus
B01
101
FE
Eat
, net
val
uatio
n lo
sses
, all
casu
alty
ins.
cos.
10
Eat
, as
C x
D
Fire
& m
arin
e In
s, c
on.
-
F 0 H
Valuation losees, N.
Y. I
nc. R
epor
t 2/
Val
uatio
ngains, N. Y. Ins. Report J
Net
valuation losses,N. Y. Ins. Report
2J
.
.
33 23 10
N. I. Ins. Report
Idai
n,p.
44a
Fminus
0I
Ratio, premiums recd.,
Spec
tato
r to
N. Y. Ins.
Rep
ort
(1.118)
0! 101 K
.1
Eat. net valuation losses, all
fire
& m
arin
eFr
ater
nal b
enef
it so
ciet
ies:
.
Val
uatio
nlosses, N. Y. Ins. Report 3/
Val
uatio
ngains, N. Y. Ins. Report
3/N
etva
luat
ion
loss
es, N
. Y. I
ns. R
epor
t 2J
ins,
coB
.11
Ret, as H x I
K L M
.
9 4 5
-
N. Y. Ins. Report
Idem
,p.
11 b
K m
inus
I.
NRatio, recd. from members, Spectator
to N
. Y.
Ins. Report
(1.7
24)
01 101 Q
0Eat, net valuation losses, all fraternal
benefit societies
9Est. as N x N
Vol
. III
19/
.0, p
. 23a
Vol
.II 1940, p.
56a
Vol
.Ill 191.0, p.
l4b
A B C D K F G H I K L '4 N 0 p Q K
(LI
301
I) +
(01-304 K + 3
+0)
Est.
85 P
x(10%)
E+
3+
0+Q
Secu
rity
and
Rea
lty F
irm
s et
a].
-O
rdin
ary
Rec
eipt
sSR
161
(mill
ions
of
dolla
rs e
xcep
t for
figures
in p
aren
thes
es)
Sour
ce R
efer
ence
Cas
hDividends
-
ADiv. reed, by corp. Sec. & R. Firms at ml ./
Stat
,of Income 1939, Pt. 2, -Tbl.
3,-P
t. I
2!B
Eat. dlv. rood, by
nonc
orp.
Sec. &
Ft. F
inns
et
a].
Eat. as A x (1%) /
CTotal
dlv.
reed, by Sec.
&Ft. Firms
.t m
l (T
oFE
cB-X
A)
A + B
Cash
Iter
etD
Fed. Govt. debt held by
Sec.
& R
. Fir
ms
eta]., Dec. 31
1,400
ERateofint.
pci.
on Fed.
Gov
t.debt held by
the
piblic (%)
FEst. int.• reed, on Fed. Govt. debt held by Sec. &
Ft. F
irm
set ml
GO
ther
loan
s &
see
,held
by n
onoo
rp. S
ec.& R. Firms et a].,
Dec.31
Hm
t. ra
te o
nfar
m m
tgs,
()
IE
at. t
nt. r
eed,
on
othe
r lo
ans
& s
ec. h
eld
by n
onoo
rp.
-
See
.&
Ft.
Firm
a et
ml
Jm
t. re
ed, o
n ot
her
loan
s &
see
.' he
ld b
y co
rp. S
ec. &
Ft.
-F
irms
eta]
. 21
KT
otal
tat,
rood
, by
Sec.
& F
t.. F
irm
s et
a]. (
To
&B
XB
)
Gro
as R
ents
—
LG
ross
ren
ts r
eed.
, All
Tra
nsac
tor
Gro
ups
(exc
l. Se
c. &
Ft.
Firm
s et
ml)
HG
ross
rents
pci.,
Al-
i Tra
nsac
tor
Gro
ups
NG
ross
ren
tsreed,
by S
ec. &
Ft.
Firm
s at
ml (
To
B I
C)
Rec
etat
sfrom
Cus
tom
ers
—-
Rea
lE
stat
e C
omm
issi
ons
and
gp-
-
OGross -rents pci,,
All
Tra
nsac
tor
Gro
ups
P-
Eat
.co
mm
. on
rent
rec
eipt
s-
-__
____
____
____
____
____
____
_21lncludes
all c
orpo
ratio
ns in
the
grou
p, f
inan
ce, i
nsur
ance
, rea
l est
ate,
and
less
ors
of r
eal p
rope
rty,
eIc
ept b
anks
and
trus
t com
pani
es, a
ndin
sura
nce
cnrr
iers
.-
2/D
ivid
ends
and
inte
rest
rec
eive
d by
cor
pora
te in
sura
nce
agents
wer
e as
sum
ed to
be
negl
igib
le.
--
-
i/Thi
sw
ight
rat
io is
the
ratio
ofdividends
rece
ived
by
part
ners
hips
in 1
939
(Sta
tistic
s of
Inc
ome,
Sup
plem
entto
Part
1, T
able
1)
to li
ne A
.
1,07
1 Ul,0 1,
400
B C
Tech, Paper
No.
5,
1947
, Tb]
.. 4
-
Nat. Bur.
Eco
n.R
esea
rch,
(2.3
8)PP
101
D-
E
8,71
933
8,85
9-
DxE
SR 3
CT
2 D
--
-
F G
(4.5
6)40
4-H
H2f
l KE
st.a
sGxH
.H I
-426
-S
tat,
of
Inco
me
1939
, Pt.
2, m
l. 3,
Pt.
I 2/
3-.
863-
F+I+
J-
K
1,13
5SR
111H
-I.
8,02
56,
890
SR m
uM
min
uaL
14 N•
8,02
5 80H E
at. a
sOx
(1%
)-
0 p
Secu
rity
end
. Rea
lty F
irm
s et
ml —
Ord
inar
yR
ecei
pts
SF' 1
CQ
(mill
ions
of
dolla
rs e
xcep
t for
fig
ure
in p
arau
thes
es)
Sour
ce R
efer
ence
Rea
l Est
ate
Com
aim
aion
a an
d M
arm
ima
(Con
t.)A
Perc
enta
ge o
f fa
rms
chan
ging
ow
ners
hip
thru
vol
unta
iyas
ian
& tr
ades
(fo
r 12
mos
. end
ing
the
follo
win
g M
ar. 1
5)B
Eat
, val
ue o
f fa
rm la
nd &
boi
ldin
gs, D
ec. 3
1C
Eat;
valu
e of
far
ms
chan
ging
ow
ners
hip
thru
vol
unta
rysa
les
&.tr
ades
DE
at. c
omm
. on
sale
s of
far
m la
ndK
Val
ue o
fnonfarm mtgs. recorded
FE
at, c
oma.
Ofl
sal
es o
f no
nfar
m la
ndC
Tot
al, r
eal e
stat
e co
ime.
& m
argi
ns (
To
IEcB
XD)
CoissJons
ofInsurance Amonta
HComm.
of L
ife
Ins,
age
nts
IC
omm
. of
fire
& m
arin
e in
s, a
gent
sJ
Com
a, o
f ca
sual
ty in
s, a
gent
sK
Tot
al c
oma,
of
ins.-
agen
ts (
To
T&B I F')
Conanisøiona
and
Mar
ains
ofSecurity Dealers
LE
at, g
ross
pro
eeed
n, n
ew c
orp.
sec
. iss
ues
NE
at, n
et p
roce
eds,
new
cor
p. s
ec. i
ssue
sN
Sea,
deal
ers
mar
gin
on f
lota
tion
of n
ew c
orp.
see
. iss
ues
0Market
valu
e of
sal
es o
f st
ocks
& b
onds
on
reg.
exc
hang
esP
Eat. comm.
of s
ec. d
eale
rsQ
Gross receipts from operation, corp. sec. dealers j/
F'
Index
ofsec. dealers coma., margins
&other oper. rev.
SEst, total, all sec. dealers comm., margins, etc.
(To I x
F)
All
Oth
er O
rera
ting
Rev
enue
Total compiled receipts, credit & loan corp. _3/
Stat
,of Income
1939
, Pt.
2, ml. 2
T
Eat. oper. rev., credit & loan cos. (To iB XC)
Eat.
.s I x (15%)
U
2/Includes
secu
rity
and
com
mod
ity—
exch
ange
brokers and
deal
ers.
2J1939 operating revenues were estimated as the sun of (a) $90 million (corporations, line Q above), (b) $163 million grosspr
ofit
of partner-.
ship
s,Statistics of Income 1939,
Supp
lem
entto Part 1, Table 1, (c) $67 million gross
prof
itof individuals,
Stat
istic
sof Income
1939
,Pa
rt1, Table 8, (d) $22 million (one—third of a for osniasions).
The weight ratio (1.99) = 342
4.17
2.2/
Incl
udes
corporate mortgage and
title
companies, commercial credit and
fina
nce
conpanies, industrial and personal
loan
companies,
othe
rfinance companies, and
fina
nce
companies not allocable.
(3.0
2)A
gr. S
tat.
1944,
Tbl
. 518
33,6
421,
016
Idem
, Tbl
. 517
-Eat.asixB
B C
15
3,507
5314
8•
Eat. as C x (l,5)
Stat.
Abs
trac
t 194
4, m
l.385
Eat
.as E x (l.5)
(sR1O1P)÷(SR1O2D+F)
•
D K F C
264
239
205
708
L1202A
OI2OlL
OI2OlJ
B+I+J
•
H I J K
2,16
42,
115
1+9
Fed. Rea.
Bul
l.May
1946
,p. 517
Ibid.
Lmlnual4
L N N13
,347 33
Stat. Abstract 1945,
Tbl
.420
Eat, as 1/4
ot' 1
% o
f0
:
0 P
90
Stat, of Income
1939
,Pt. 2, Tbl. 3,
Pt.
IQ
172
342
N+P+Q
Eat, as F',c (1.99) /
F' S
T U
628 94
Secu
rity
and
Rea
lty F
irm
a at
a].
-O
rdin
ary
Rec
eipt
s-S
R io
(mill
ions
of
dolla
rs)
222
Sou
rce
Ref
eren
ceIn
sura
nce
Ben
efits
-
AB
enef
its p
d. b
y A
l.]. I
ns. C
arri
ers
to a
ll bu
a. (
exol
. Far
ina)
551
IC 1
C 0
-*
BE
8t.b
enef
itapd
.toSe
o.&
R.F
j,net
a1by
138
Ent
.aaA
x(25
%)J
B
priv
ate
ins.
car
rier
s:A
x 1
939
.eht
rat
io /
(To1
cBX
H)
CT
otal
Ord
inar
y R
ecei
ots
(To
P&B
X J
)10
,265
(SR
101
C +
K +
N)
+ (
SR 1
02 G
+ N
+5
+ U
) +
C(s
R10
3B)
L"F
or 1
939
wei
ght r
atio
see
App
. A 3
x.
-
Secu
rity
and
Rea
lty F
irm
a at
al -
Sup
plem
ent
to O
rdin
ary
Rec
eipt
sG
ross
Ran
ts R
ecei
ved
(mif
lios
of d
olla
rs)
sum
PSt.&L.Govt.
QB
ka.
& U. S. )4,n. Funds
RL
ife
ma.
Coe
.S
Oth
er I
ns. C
arri
ers
FSe
c. &
R. F
irm
set Al
524
221 34 46 96 197 1?
1,135
6,89
0
8,02
5
3,89
8442
1,85
01,454 31 14 47 30 29 230
Sour
ce R
efer
ence
IC 1
01 F
PP101 S
App. B, Worksheet F.-2—Z
10 1
01 L
51101 U
LI 101 14
0110214
A th
ru 0
U m
nua
if
14+1
HR
201
14
AG
201
EIc
201 W
Pp 201
PA
pp, B
,Worksheet A'-2—E
1020114
•BK 201 S
LI 201 B
01 201 G
SR 202
L
A B 0 D 14 F 0 H I 3 K L N N 0 P Q B S F
Gro
ss R
ents
Rec
eved
by:
Am
d. C
orp.
BB
us.P
r.&
Pt.e
tal
CFe
d. G
ovt.
DSt
. & L
. Gov
t.14
Bke
. & U
. S. n
. 'Fu
nds
FL
ife
Ins.
Cos
.G
Oth
er I
ns. C
arri
ers
HSu
btot
al, A
ll T
rans
acto
ra (
exel
. Sec
. & f
i. Fu
me
et a
l)I
Sec.
& R
. Fir
ms
et a
]. (
To
SR 1
01 N
)
3A
ll T
rans
acto
r G
roup
s
Gro
øs R
ents
Pai
d by
:K
HR
LFa
rms
14m
d. C
orp.
NB
us.P
r.&
Pt.e
tal
0T
ed. G
ovt.
UA
ll T
rans
acto
r G
roup
s8,
025
'K
thru I
-U
Seou
ritr
and
Rea
lty F
irm
s at
al -
Ord
inar
yE
xpen
ditu
ros
-SR
201
(mill
ions
of
dolla
rs e
xcep
t for
fig
ures
in p
aren
thes
es)
Gro
ssC
ashP
aPa
yrol
l of
sA
Sec.
& c
omm
odity
bro
kers
& d
eale
rsB
Ins,
agents
& c
ombi
natio
n of
f ic
esC
-Rea
l est
ate
DFi
nano
en,e
c.H
Tot
al p
ayro
ll, A
U S
ec. &
H. P
uma
et a
lF
Dir
ecto
rs' f
ees,
Sec
. & H
. Pum
a, B
ks. &
U. S
. &rn
. Fun
ds,
All
Ins.
Car
rier
s-
GEat,
dire
ctor
s' f
ees,
Sac
. & H
. Fir
ms
HG
ross
cas
h pa
y, A
ll Se
c. &
H. F
irm
a et
al (
To
P&B
I N
)
Cas
h D
ivid
ends
Div
. pd.
by
svga
. & lo
an a
ssns
.N
Unp
ledg
ed s
hare
s, a
ll op
erat
ing.
aae
na. (
shar
es)
0U
npie
dged
sha
res,
fed
. svg
a. &
loan
ass
na. (
8har
es)
PR
atio
, unp
1ede
d sh
ares
, all
asan
s. to
fed
. aas
ns.
QDiv.
pd. b
y fe
d. s
vga.
& lo
an s
eem
s.H
Eat
. div
. pd.
by
all s
vga.
& lo
an a
sans
.S
Div
. ree
d. b
y Se
c. &
R. F
irm
a et
al
TN
et d
iv. p
d. b
y So
c. &
H. F
irm
a (e
xcl.
svga
. & lo
an s
eam
s.)
UT
otal
, div
. pd.
by
Sec.
& H
. Fir
ms
et'a
l-(T
o P&
S I
N)
Cas
h In
tere
stV
mt.
pd.,
corp
. Sec
. & R
.,ius
at a
l /71
3'S
tat,
of I
ncom
e 19
39, P
t. 2,
ml.
3,P
t.I
(+ S
ourc
e B
ook,
Bur
. of
Inte
rnal
Rev
enue
)V
lot.
p1.,
corp
. sec
. dea
lers
3/
'4
Ibid
.V
IE
at. m
t. p1
., m
enco
rp. s
ee. d
ealo
rs12
-E
at,
as 3
x V
./Thi
s ite
m r
epre
sent
s th
edifference betveen
priv
ate
repu
rcha
sabl
e ca
pita
land
mer
tgag
e Pl
edge
d ah
ares
.i/S
ee f
ootn
ote
Vto
SR 1
01 f
or a
list
ing
or
the
indu
stry
gro
ups
incl
uded
in th
is c
lass
ific
atio
n.2/
Incl
udes
security and commodity—exchange brokers and dealers
Sour
ce R
efer
ence
174
Surv
ey o
f C
urre
nt B
naln
eae
Je.
1945, p.
1922
4Ib
id.
452
Ibid
.206
Ibid.
1,056
AtbruD
24
Files, U. 8, Dept. of Comm., Nat. Income Div.
12
,E
at.a
a1J2
ofF
-,
(3,7
4)Trends
inThe Svga.
&loan Field 1944, Tbl.
1 1/
(1,3
25)
Fed. Svga. & than Aasns., Ann. Report 1939, p. 3
(2,8
22)
1140
41Fed. Svga. &Loan Asoua., Ann. Report-1939,
p.4-
116
Eat
.aaP
xQ1,082
SR 1
01 C
56'Survey
of C
urre
nt B
usin
ess
Apr. 1946, p. 16
1,25
4R
+S+
T
'4 B C D H F 0 H N 0 P Q H 8 V U.
Secu
rity
and
Rea
lty F
ixes
.t a
l —0r
dIna
rrR
xp,?
vIito
ye.
(nill
iona
ofdo
llars
exc
ept
fbr
figur
esin
per
enth
esea
)
aah
Inte
rebt
(C
ent.)
Oth
.r d
ebt o
f ne
noor
p. S
ec. &
R. F
ires
.t a
l (.x
l. se
a, d
eale
rs)
tnt,
rate
on
fare
etg
a,(%
)E
at..
i. d.
by
nonc
orp.
Sec
. & I
L F
ires
(ex
ol. s
ac, d
eale
rs)
To.
a1 m
t. pd
. by
S.c.
& I
L F
ires
.t a
l (T
o W
cB I
P)
TD
se R
ants
-
Ren
tp8
. by
all s
.rvi
o. &
fin
ance
eec
.-
Ren
ts.p8
. by
Bk.
. & U
. S. )
n. F
unds
, All
Ins.
rri
ere,
prof
essi
ons
& s
ocia
l ser
vioe
•R
snts
p8.
by
serv
ioe
indu
stri
es &
Sea
. & H
. Fix
es .t
sl
• G
ross
cas
h pa
y, S
oc. &
ft.
Fixe
s it
alro
1l, s
ervi
ce in
dust
ries
Rat
io, g
roas
cas
h pa
y of
Sec
. & H
. Fir
es .t
.1 to
tota
l gro
ss c
ash
pay
(%)
Est
.ren
tpd.
byS
.c.&
R.p
ix.s
etal
(Top
&B
XQ
)Sn
ent b
y Se
c. &
B. F
ixes
.t a
l as
Cua
tr.
0
Pur
chas
esof
goo
ds &
sev
icee
by
Sec.
& H
. Fix
es a
t al (
To
B I
R)
let P
uese
nts
fbr
Rea
l Eet
te T
rans
fer.
Bet
. net
pur
chas
es o
f re
al e
stat
e by
xIn
d.O
Drp
.D
es. P
r. &
Pt.
it al
Ref
HFe
d. G
ovt.
Tot
al o
f ab
ove
net p
urch
ases
of
real
est
ate
let,
net s
ales
of
real
est
ate
by.
Fare
sH
R Lif
e In
s. C
cc.
Tot
al o
f ab
ove
net s
ales
of
real
est
ate
let,
net c
hs.e
s of
rea
l est
ate
by S
ec. &
H. F
ixes
et a
l (T
o B
I 3
)If
lata
lesn
t. to
Con
trac
tgj (
To
B B
T)
Sour
ce R
efep
.no.
932
vwjo
fC
urre
nt D
eain
eu )
r. 1
946,
.is25
5F
iles,
U. S
. Dep
t. of
Cce
n.,
let.
Inoo
ne D
iv.
B m
inus
FSR
201
Hm
214
V +
VH
f (
H +
.7)
230
Est
.asG
xlL
2,40
0H
RV
1T
100
2B10
0PP
2O1R
9H
R2C
0T
iles,
U..
S. D
ept.
of O
cen.
,N
at. m
oon.
Div
.20
9N
thru
QR
600
HR
1O1Q
—17
1.11
011
U68
3.S+
T+
UV
474
lst.a
sVel
nusl
V
11,8
9012
,203
(4.
56)
549
1,27
6
SR 3
03 H
SR 1
01 H
let.
as I
x e
arin
g av
g. o
f A
(sR
2olV
+I)
+ (
SR2c
)
677
1,06
82,
081
(33
.9)
£ B C I I F 0 H .7 H 'I N 0 -p Q
1,13
3SR
;]2
0
Fed.
inco
ms
&ex
cess
proFits
taxe
s ac
crue
ddu
ring
pre
viou
s yr
. on
income
of:
NPr
emiu
ms
pd. t
o fe
d. s
vga.
& le
an in
s. c
orp.
Net Owner
Tak
eout
aP
Gro
ss r
ants
ree
d, b
y Se
c. &
R. F
irm
s et
a)
QR
ente
pd.b
yHH
KO
ther
ren
ts r
eed.
byS
ec.&
R. F
irm
s et
alS
Eat,
rent
s re
ed, b
y no
ncor
p. r
ealty
fir
esF
Rca
. nzt
g. d
ebt o
wed
by
real
ty ti
mes
(D
ec. 3
1)U
Incr
emen
t to
res.
mtg
deb
t ow
ed b
y re
alty
fir
ms
63 16
1,159
1,34.4
1,84
33'
78
6,89
03,
898
2,992
4,11
511,916
12,3
59+
1.4
3
I 11
1 0
Stat,
ofIncome 1938,
Pt. 2
, Fbi
. 2Ibid.
CB
134
AzD
35
IG'114Z
If. 118 Q
Eat,
as0
x(25
%)
10113 L
+ S
E+F+ H+ 3
IC 202
TE
at,as L x'(20.5%)
3/'
SR 101 N
RH
201
HP minus
QE
at,
as(80%
of Q
) +
(33
.3%
of
a)
RH
3O2M
min
usN
Incr
emen
t in
F
L M N 0 P Q R S F U
Secu
rity
and
Rea
lty F
irm
s et
al -
Ord
inar
yE
xpen
ditu
res
(mill
ions
of
dolla
rs e
xcep
t for
fig
ure
inparentheses)
Tax
es C
olle
cted
ATotal
Fed.
+ S
t. &
L. G
ovt.
corn
. inc
ome& related
taxe
s co
ilcot
ed
SR 203
Sour
ce R
efer
ence
•1,
223
860
94
(10
.93)
BAll
Tra
nsac
tor
Gro
upe
CCorp. Sec. & R. Fires at al /
DRatio,
Cor
p. S
ec. &
R.Firma
atal to All
Tra
nsac
tor
Gro
ups
(%)
HE
at. i
nom
e &
rel
ated
taxe
s co
llect
ed f
rom
Sec
. & R
. Fir
es a
t al
FE
at, p
ayro
ll ta
xes
p6. b
ySec.
.&B
.Fi
rms
atal
St. &
L.
Govt,
taxe
s:G
Stat
e oc
cut,a
tion
&bu
.s, l
icen
se ta
xes,
eta
,H
Eat
, sta
te li
cens
e ta
x p6
. by'
Sec.
& B
. Fir
ma
atal
SE
at, p
rope
rty
taxe
sp6.
by S
ec.&
R. F
irm
s at
al
KT
otal
texa
s p6
, by
Sec.
& B
. Fir
ms
atal
(ToP&B
I U
)
Insu
ranc
e Pr
emiw
naL
Ins,
pre
miu
ms
p6. t
o A
ll In
s. C
arri
ers
by 'a
ll bu
s. (
exci
. Far
ms)
NE
at. i
ns, p
rem
ium
s p6
. by
Sec.
& B
. Fir
ma
et al to private
ins
•ca
rrie
rs:
L x
193
9weight ratio /
A B C D H F 0 H J K
0T
otal
pre
miu
ms
p6. b
y Se
c. &
R. F
irm
a et
a.l (To l&B I F)
2B
udge
tof the
U. S
.194Ô, p. 802 (2 yr. movg. avg.)
380
'N+
N
1'Se
e fo
otno
te L
Ito
SR
101
fora
listin
g of
the
indu
stry
gro
ups
incl
uded
in th
isZ
Jyor
193
9 w
eigh
t rat
io s
ee A
pp. A
3x,
classification,
Sec
urity
and
Rea
lty F
irms
at
al-
Ord
inar
yFpenditures
SR 204
(mill
ions
ofdo
llars
exce
ptfor
figu
res
in parentheses)
Ne
Ow
nerTakeouf,
(Coo
t,)A
Inst
alm
ents
toco
ntra
ctor
s fr
om S
ec. &
N, F
irm
s at
ala/
c ne
w n
onfa
rm. r
ae. c
onst
r, a
nd a
/c r
ae, r
epai
rsB
Eat
. tax
es p
d. o
n te
nant
occ
upie
d no
nfar
eunits
&on
dw
ellin
gs f
or r
ent o
r sa
leC
Eat
. mtg
. lot
. pd.
on
tena
nt o
ccup
ied
nonf
arm
uni
teD
Est
, mtg
. mt.
+ n
et in
s,costs
onte
nant
occ
upie
d no
nfar
m u
nits
HL
andl
ord
purc
hase
s of
con
sum
er g
oods
& s
ervi
ces
PT
otal
of
abov
e de
duct
ions
GPr
el. e
at. r
oe, p
rope
rty
owner
with
draw
als
HRatio, prel. est. to res. rents
(%)
IPrel. est.
nonc
orp.
pro
pert
yowner withdrawals
3N
etpayments for
real
est
ate
tran
sfer
s by
all See. & R. Firma et al
KEst.
real
est
ate
tran
sfer
s by
noncozp. realty
firm
sL
Eat
•w
ithdr
awal
sby
noocorp. owners of real estate
MDiv.
pd.by Sac. & R. Firms at al
Nlet.
div.
-equ
lval
ent c
ompo
nent
of
othe
r ne
t ow
ner
takeouts
0Gross cash
nay,
Sec. & N. Firms
et a
lP
Est
. sal
ary—
equi
vale
nt c
ompo
nent
of
othe
r ne
t ow
ner
take
outs
QT
otal
net
ow
ner
take
outs
, Sec
. & N
. Fir
ms
ata].
(To
B X
W)
Piblic
Purn
oce
Paym
ents
Ntr
ibut
ions
& g
ifts
, cor
p. S
ec. &
N. F
irm
s et
al
3,/
Sta
t,of
Inc
ome
1939
,P
t.2,
Fbi
. 3, P
t. I
SE
st. p
ublic
pur
pose
payments,
all S
ec. &
R. F
irm
a at
al
Eat, as 2 x N
(T
oIEcS I I)
FT
otal
Ord
inar
vPaponditurj
(To
IcB
I!)
(SR
20]
. H+ U) .i
(SR
202
D +
L +
.N
+ V
+ 1
) +
F(s
R2o
3K+
O)+
(sR
2a4Q
+s)
1/Se
e fo
otno
te 1
/to
SR 1
01 f
or a
list
ing
of th
einduetry
grou
ps in
clud
ed in
this
cla
ssif
icat
ion.
Source Reference
952
Hst
,asS
R21
1U+
60%
OfS
R21
1JA
890
I&1]3L
•B
638
702
1,314
3,858
(12.
4)0
510
474
284
226
Files, U. S. Dept. of Comm.,
Eat,
asC x (110%)
SR2]2R
A+B+D+E
(sit
203
Q +
ti) m
inus
(SR
204
(SR
204
0)
.(S
R20
3 Q
)(s
it 20
35) x (SR 204 H)
SR2O2W
-
lst,a
sJx(
60%
)Est, as
Imin
usK
Nat.
F
Income
Div.
-
•
C D F 0 H r S K L
1,25
425
11,068
214
691
SR 201 U
Eat, as N x.
(20%
)SR2O1H
Eat,
as 0
x(2
0%)
L+
N+
P
.
.
.
N N 0 I'
.Q
2 4
10,234
H S
Secu
rity
end
Rea
lty F
irm
s at
al —
Sup
plem
ent
to O
riin
ary
Exp
endi
ture
s5R
211
Inst
alm
ents
to C
ontr
acto
rs(m
illio
ns o
f do
llars
except for figures in parentheses)
Res
iden
tial C
onst
ruct
ion
Val
ue o
f bu
ildin
g pe
rmits
for
con
atr.
of
A1
fam
ily b
uild
ings
B2
fam
ily b
uild
ings
CMalti—fmily
build
ings
DAll new yes,
build
ings
Bet
, val
ue O
f bu
ild1n
g pe
rmits
br
tena
nt o
ccup
ancy
:-
B1
fam
ily b
uild
ings
-
F2
fam
ily b
uild
ings
CA
ll ne
w r
es. b
uild
ings
HR
atio
, val
ue o
f bu
ildin
g pe
rmits
for
tena
nt o
ccup
ancy
to a
ll ne
w r
ae, b
uild
ing
perm
its (
%)
-
-2,
407
Cou
nty.
Act
ivity
in
the
U. S
.,U
. S. D
ept.
of C
ome.
Spe
cial
Rel
ease
May
1944
Eet,asHxl
Con
str.
Activity in
the-
U. S
.,U
. S. D
ept.
of C
oTee
.Special Release
May
194
4E.t.aaKx(39.3%)/
I+K
Bet. as J
+0
at,
as Q
x (&
3%)
917
Constr.
Act
ivity
in the 11. S.,
U. S. Dept. of Cones. Special
Rel
ease
May 1944
Eat
.ass
x(27
.2%
)2/
R+U
144
-28
81,
169
IV
alue
of
new
rae
. non
farm
con
str.
Sour
ce R
efer
en
837
Stat
. Abs
trac
t 194
0, T
b)..
895
Ibid
.-Ib
id.
-
A+
B+
C-
Bet
.as A x (30%) LI
Bet
.as B x
(45%
) 1"
C+
E+
FG
+D
251 29 568
-(48
.6)
JB
et. v
alue
of
new
rea
. non
fari
n co
natr
. for
tena
nt o
ccup
ancy
1,17
0K
Val
ue o
f ne
w f
arm
rae
. con
str.
330
0E
at.,
valu
e of
new
term
rae
. con
str.
for
tena
nt o
ccup
ancy
PV
alue
of
all n
ew r
ee. c
onst
r.Q
Eat
, val
ue o
f ne
w r
ea. c
onat
r. f
or te
nant
occ
upan
cyR
Eat
, ins
talm
ents
to c
ontr
acto
rs f
rom
Sec
•&
R. F
irm
s et
a/c
cons
tr. f
or te
nant
occ
upan
cya)
.
51'
2,53
71,
221
731
A B C D B F G H-
I
U V
Reo
airs
-
SV
alue
of.
pri
vate
rae
, rep
airs
Eat
. ins
talm
ents
fro
m S
ec. &
R. F
irm
s at
al
250
Tot
al in
stal
men
ts to
con
trac
tors
fro
m98
1Sec.
& R
. Fin
es e
t al a
/c, r
es.c
onat
r.,/F
or w
eigh
t rat
ios
see
App
. A 3
viii
.-
--
-
- 2J
0fth
e 6,
097
mill
ion
farm
s on
erat
ed in
194
0, 2
,398
mill
ion
wer
e op
erat
ed b
y m
anag
ers
ami t
enan
ts (
Stat
istic
al A
bstr
act 1
91.3
, Tab
le 6
38).
The
con
stan
t wei
ght r
atio
39,
3% =
6,09
7-
--
ilThi
sw
eigh
t rat
io is
the
ratio
of
estim
ated
inst
alm
ents
to c
ontr
acto
rs b
ased
on
adju
sted
193
9 C
ensu
s of
Con
stru
ctio
n da
ta to
the
1939
estim
ates
of
Con
stru
ctio
n A
ctiv
ity in
the
Uni
ted
Stat
es (
Spec
ial R
elea
se, M
ay 1
944)
, U. S
. Dep
artm
ent o
f C
omm
erce
.Fo
r w
eigh
t rat
ios
see
App
. A 3
ix,
Rev
ised
Con
uner
ce D
enar
tnen
t est
imat
es o
f co
nstr
uctio
n ac
tivity
bec
ame
avai
labl
e to
o la
te f
or in
clus
ion
in th
is s
tudy
.
I 0 P—
Q a S U V
Secu
rity
and
Rea
lty F
irm
s at
al —
ippl
erne
ntto
Ord
inar
y pe
nditn
rea
SR 2
12In
stal
men
ts to
Con
trac
tors
(mill
ions
of
dolla
rs)
Sour
ce R
efer
ence
Cor
mer
cial
Con
stru
ctio
nA
Val
ue o
f ne
w p
riva
te c
oma.
, soc
ial &
mis
c. c
onat
r.39
5C
onst
r.A
ctiv
ity in
the.
U. S
., U
. S. D
ept.
ofA
-C
oma.
,Sp
ecia
l Rel
ease
May
194
4
C.
Val
ue o
f eo
nstr
. act
ivity
a/c
non
res.
, non
farm
427
mid
.c
•bu
ildin
g re
pair
sE
st. i
nsta
lmen
ts to
con
trac
tors
by
Sec.
& R
. Fir
ms
et a
l a/c
eD
New
com
a., s
ocia
l & m
isc.
con
atr.
98E
at, a
s A
x (
25%
)/
D
B-
Rep
airs
34E
at, a
s C
x (
8%)
/E
FT
otal
a/c
com
a. c
onst
r.13
21)
+ B
F
GT
otal
inst
alm
ents
to c
ontr
acto
rs, S
ec. &
R..
Firm
a at
al
1,11
3(S
R 2
11 v
) +
(SR
212
F)
G
(To
SR 2
02 X
)
a/Se
e fo
otno
te /
toSR
211
.V
•
'-I
Secu
rity
and
Rea
lty F
irm
s et
al—
Sup
plem
ent t
o O
rdin
ary
Exp
endi
ture
sSp
ent b
y Se
curi
ty a
nd R
ealty
Fir
ms
at a
l as
Cus
tom
ers
(mill
ions
of
dolla
rs)
Purc
hase
s of
Goo
dsC
oat o
f su
pplie
s, e
tc. u
sed:
APa
yrol
l, Se
c. &
R. F
irm
s et
al
BN
et o
wne
r ta
keou
ts, S
ec. &
R. F
irm
s at
si
CE
at, c
oat o
f su
pplie
s, e
tc.
Forc
e ac
ct. r
k &
dea
ler
& m
fr. i
nsta
llatio
ns:
DV
alue
of
nay
rae.
con
etr.
for
tena
nt o
ccup
ancy
HSe
e. &
R. F
irm
a in
stal
men
ts to
con
trac
tors
for
new
rae
. con
str.
FE
at. f
orce
mee
t, w
ork
& d
eale
r &
mfr
. Ins
talla
tions
a/c
new
rca
. oon
str.
GE
at. p
]rch
asea
of
good
s by
Sec
. & R
. Fir
ms
et s
i a/c
new
roe
. eon
str.
HV
alue
of
priv
ate
roe,
rep
airs
.1E
at. S
ec. &
H. F
irm
a +
RB
inst
alm
ents
to c
ontr
acto
rs f
or p
riva
te r
ae. r
epai
rs3
Eat
. for
ce a
cct.
wor
k &
dea
ler
inst
alla
tions
a/c
pri
vet.
rca.
rep
airs
-K
Eat
. pur
chas
es o
f. g
oods
by
Sec.
. & H
. Fir
ma
at a
l a/c
pri
vate
rae
. rep
aire
LT
otal
pzr
chee
ee a
/c c
onat
r.-.
NT
nnT
hrd
purc
hase
sof
con
saer
goo
dsW
Tot
al p
urch
ases
of
good
s by
See
. & R
. Fir
ms
et *
1
Purc
hase
s of
Ser
vice
s1e
gai s
ervi
ces:
0B
us.
expd
. for
lega
leer
vice
aP
'E
at.
Sec.
& H
. Fir
ms
at a
l exp
d. f
or.l.
gal s
ervi
ces
Adv
ertis
ing
expd
.:Q
Cos
t of
mag
asin
e ad
vert
isin
g (m
onth
ly a
vg. i
n $
N)
-
R.
Eat
. coa
t of
adve
rt-i
eing
-a...
c., S
ec. &
R. F
irm
a at
el
P'of
essi
onal
aer
vice
aS
Gro
ss in
com
e of
eng
inee
ring
& o
ther
pro
fess
iona
l ser
vice
sI
Eat
. Sec
. & H
. Fir
ms
at a
l exp
d. f
or p
rofe
ssio
nal s
ervi
ces
•O
ther
ser
vice
s:U
Oth
er d
educ
tions
, cre
dit &
loan
cor
p. /
VN
et. S
ec. &
H. F
irm
s at
al e
xpd.
on
othe
r se
rvic
esU
Tot
al p
urch
ases
of
good
s &
ser
vice
s, S
ec. &
H. ?
izs
at a
l (ex
ci. o
mis
sion
s)K
Eat
. ois
sion
s in
pur
chas
es o
f go
ods
& s
ervi
ce.
KT
otal
spe
nt a
s cu
stom
ers
by S
ec. &
H. P
ros
et a
l (T
o SR
202
N)
illbr
193
9 w
eigh
t rat
io s
ee A
pp. A
3 ix
.a/
see
foot
note
/to
SR 1
02 f
or a
list
ing
of th
e in
dust
ry g
roup
s in
clud
ed in
this
1,06
8SR
201
H69
1SR
2O4Q
292
Eat
, as
]J6o
f(A
+B
)1,
221
731
SR21
1QSR
211R
.DH
490
367
Est
.asD
min
usE
Eat
, as
P x
(75%
)--
•P G
91?
SR2l
lS.
H49
941
815
752
4
Eat
, asH
x (
544%
)E
st,a
sHm
inus
lE
at, a
s Jx
(37
.5%
)G
+K
1/.
I j K L
432
1022
400
43E
st.a
sox(
10%
)p
131C
2241
13!a
t.asl
rQ44
01C
224T
22E
at. a
sSx(
5%)
T
244
Stat
, of
Inco
me
1939
, Pt.
2, T
bl. 3
, Pt.
I U
122
Eat
, as
U x
(50
%)
-V
2,33
0 702,
400
N+
P+E
st.a
sW
+I
R+
Wx
T-#
V(3
%)
V I I
sR22
1
Sour
ce R
efer
ence
A B C
1,31
4R
H21
2R2,
130
C+
L+
NN N Q H
clas
sifi
catio
n,
Secu
rity
and
Rea
lty F
irm
a et
al -
(mill
ions
of d
olla
rs e
xcep
t for
fig
ures
in p
aren
thes
es)
SR 3
01
ASS
ET
S, D
EC
ER
31
Cur
renc
y an
d D
enos
itaC
ash,
dem
and
& ti
me
depo
site
:A
£11
mon
oorp
. bus
.-
BB
us.P
z.&
Pt,e
tal
CN
onco
rp. S
ee, &
R. F
irm
a et
al
DC
orp.
See
, & B
. Fir
ma
et a
l (ex
ci. m
ail f
loat
)
!-B
uild
ing
& lo
an a
sses
.F
Rat
io, m
ail f
loat
to to
tal d
eman
d de
posi
ts (
%)
0M
j. bu
ildin
g &
loan
see
ms.
(ex
cl. f
loat
)N
Tot
al c
urre
ncy
& d
epos
its, S
ec. &
B. F
irm
a et
al (
To
B X
b)
Fede
ral O
blig
atio
nsI
Fed.
Gov
t. de
bt h
eld
by S
ec. &
B. F
irm
s at
aX
(T
o B
I a
)O
ther
Loa
ns a
nd S
ecur
ities
Eat
, loa
ns &
- sa
c, h
eld
by n
onco
rp. S
ec. &
B. F
irm
a at
aX
!dtg
. loa
ns o
n 1—
4 fa
mily
non
farm
hom
es h
eld
by:
JIndividuals
& o
ther
sI
Eat
., H
RL
Eat., noncorp.
Sec.
& B
. Fir
ms
et a
].Fa
rm m
tg. d
ebt h
eld
by:
NIn
divi
dual
s &
oth
ers
NE
at.,
RH
0Est.,
nono
orp.
Sec
. & B
. Fir
ms
at a
Xfl5
+y$
t deb
itba
lanc
es, m
embe
rs L
1. S
tock
Exc
hang
eQ
Eat
, deb
it ba
lanc
es h
eld
by n
onco
rp. s
ec. d
eale
rsR
Sing
le p
aym
ent l
oans
to c
onsu
mer
s by
non
bks.
SIn
atai
nent
loan
s by
cre
dit u
nion
s &
mis
c, le
nder
s1e
v., o
ther
than
Fed
. Gov
t. ob
ligat
ions
, cor
p. s
ee,dealers/
UE
at, o
ther
mv.
, non
corp
. sea
, dea
lers
5,30
0W
3O1A
4,664
PP3O
1B61
61/
636
AD
LIm
IBB
1,06
5 a1
'1,
200
Unp
ub. F
ed. B
ee.
Dec
. 194
5, T
hls.
200/
200
Ibid
.(
5.7)
/C
5.7)
PP 3
01 F
189
189
Em
inua
(ExF
)1,
870
2,02
5C
+D
+GSo
urce
Ref
ereR
ca
:m)
(R&
S 11
4? R
ev.)
,I,
III
, IV
A B C V N F G H
1,40
0T
ech.
Paper
No.
5, Nat.
Bur
.Noon.
Research,
1947
,ml. 4
1,40
0
6,33
23,483
2,84
9
2,28
41,623
661
991
743
102
229
350
525
•6,
440
3,54
22,
898
2,21
.51,
574
641
906
680
102
243
319
479
3. 1 L
Stat, Abstract 1945, Thl. 384
RH311B
Jminual
Agr
. Sta
t. 19
44, m
l. 57
5HR
311
DN
min
us N
Fed.
Baa
.Bull. Nay 1946, p.
514
Eat
,as P x (75%)
Files
Fed.
Rae
., R
esea
rch
& S
tat,
Div
.Fe
d. R
es. B
ull.
May
194
6; p
. 536
Stat
, of
Income 1939,
Pt. 2
, ml.
5(& 1938)
Tx(1.5)
N N 0 PSQ B S T U
1/Fo
r da
tes
befo
re D
ecem
ber
31,
1939 this
item
was
est
imat
ed b
y ad
ding
a c
onst
ant t
oS.
Shap
iro'
s es
timat
e of
noncorporate
secu
rity
dea
lers
'ho
ldin
gs o
fdeposits
and
curr
ency
.Se
e "T
heDistribution
ofDepoeita
and
Cur
renc
y in
the
Uni
ted
Stat
es,
1929—1939", Journal
ofthe
Am
eric
anSt
atis
tical
Ass
ocia
tion,
December
1943
, p. 4
1,1.
The
con
stan
t add
ed e
qual
s th
e di
ffer
ence
bet
wee
n Sh
apir
o's
seri
esfor December
31,1939 and
the
estimate
forthat
date
as
on
line
C a
bove
.S
g/F
orda
tes
befo
re D
ecem
ber
31, 1
939
this
.ite
m w
as e
stim
ated
by
mul
tip]3
-ing
Sha
piro
's e
stim
ate
of d
epos
its a
nd c
urre
ncy
held
by
fina
ncia
l cor
po-
ratio
ns o
ther
than
insu
ranc
e ca
rrie
rs b
y a
1939
wei
ght r
atio
.T
his
wei
ght r
atio
equ
als
the
ratio
of
the
figu
re o
n lin
e D
for
Dec
embe
r 31
, 193
9to
Sha
piro
's e
stim
ate
of h
oldi
ngs
onthat
date
.-
i/For
dates before December
31,1939
this
item
is a
ssum
ed to
be
the
sane
as
1939
.1/
Incl
udes
sec
urity
and
con
mxd
ity-e
xoha
nge
brok
ers
and
deal
ers.
- U
.
Secu
rity
and
Rea
lty F
ires
et *
1 -
Loan
fund
s(m
illio
ns o
f do
llars
)5R
302
Not
es &
aoc
ts. r
ecbl
., co
rp. s
ec. d
eale
rs /
Not
es &
acu
te. r
ecbl
., cr
edit
& lo
an c
orp.
/+
ins,
age
nts
+ r
ealty
Cor
p. &
less
ors
N T
otal
jeaf
unda
Rec
eiva
ble
(To
p&B
I e
)L
InB
ILT
LS,
DE
CE
4B5t
31
8,cg
oirn
ta P
ayab
leN
Spen
t by
Sec.
& R
.. Fi
rms
et a
l as
cust
omer
s0
Eat
.accts. paybi., Sec.
& it
. Fir
ms
et a
l (T
o ?&
B I
f)
350
319
2,09
7 /
1,91
0
220
151
4,02
3/4,
108
6,76
630
,766
37,4
5636
,753
46,1
7545
,612
.
49,4
4549
,037
Sour
ce R
efer
ence
Stat
. Abs
trac
t 194
5, F
bi. 3
84PP
301
N(s
R3o
lL+
o+Q
+R
+s+
u)+
(sit :302 A) minus
(SR
302
B)
Eat.asCx(102%)
D
Stat
, of
Inco
me
1939
, Pt.
2, F
bi. 4
Ibid
. (+
Sou
rce
Boo
k, B
ur. o
fIn
tern
al R
even
ue)
Stat
,of
Inco
me
1939
, Pt.
2, F
bi. 4
Ibid
.(.
1. S
ourc
e B
ook,
Nor
, of
Inte
rnal
Rev
enue
)
E+
F+G
+E
+ 3
DfK
-L
(sR
3olH
+I)
+(s
a3o2
L)
14
othe
r lo
ans
and
Secu
ritie
sEst.
loan
s &
sac
, hel
d by
mcn
corp
, Sec
. & F
irm
s at
al (
coot
.)A
)Itg
s. h
eld
by s
vga.
& lo
an a
esm
s.B
Eat
. mtg
s. h
eld
by e
ndow
men
t fun
d.s
CT
otal
, oth
er lo
ans
& s
ec. h
eld
by n
onoo
rp.
Sec.
& B
. Fir
ms
at a
l mci
. abo
veD
Eat
. oth
er lo
ans
& s
ea, h
eld
by n
onco
rp. S
ec. &
it. F
irm
s et
al
Eat
, loa
ns &
see
, hel
d by
cor
p. S
ec. &
it. F
irm
s at
al:
-
Em
v, o
ther
than
Fed
, Gov
t. ob
ligat
ions
, cor
p. s
ec. d
eale
rs /
FT
hy,
othe
rth
an F
ed. G
ovt.
oblig
atio
ns, c
redi
t & lo
an c
orp.
+in
s, a
gent
sG H
3,55
5.11
68,
548
3,758
116
8,685
8,719
8,859
a B C
IB
onds
, not
es &
mtg
s. p
aybl
., m
v, tr
usts
& h
oldi
ng c
os. h
i3
Eat
. mv.
oth
er th
an F
ed. G
ovt.
oblig
atio
ns +
recb
ls.,
mv.
trus
ts &
hol
ding
cos
.I
Tot
al, o
ther
loan
s &
sac
, hel
d by
cor
p. S
ee. &
it. F
irm
s at
al
LT
otal
, oth
er lo
ans
& s
ea.,
All
Sec.
& it
. Fir
ms
at a
l (T
o .B
Id)
6,26
5St
at, o
f In
com
e 19
39, P
t. 2,
Fbi
. 430
,265
Eat
. as
I +
124
bill
ion
/
H F- C H I .1
2,225
-2,
400
278
300
SR22
1TSa
t.,as
N x
(12.5%)
N 0
fThc
lude
s se
curi
ty a
nd c
omm
odity
-exc
hang
e br
oker
s an
d de
aler
s..
a/S
eefo
otno
te /
toSR
102
for
a li
stin
g of
the
indu
stry
gro
ups
incl
uded
in th
is c
lass
ific
atio
n../T
his
item
was
est
imat
ed f
or d
ates
bef
ore
Dec
embe
r 31
,1939
on th
e ba
sis
of d
ata
in th
e Su
rvey
of
Rne
rica
n I.
iste
d C
orco
ratio
ns 1
935—
1939
,Se
curi
ties
and
Exc
hang
e C
omm
issi
on.
.-
—ili
nciu
aes
inve
stm
ent t
rust
s an
d in
vest
men
t com
pani
es, h
oldi
ngcompanies, and
othe
r co
rpor
atio
ns h
oldi
ng s
ecur
ities
.i/B
ecau
se o
f ye
ar—
to—
year
rev
isio
ns in
the
com
posi
tion
of th
e B
urea
u of
Int
erna
l Rev
enue
classification
of h
oldi
ng c
ompa
nies
, Sta
tistic
s of
Income
data
on
Inve
stm
ents
hel
d by
this
gro
up w
ere
not u
sed,
Inst
ead
this
item
was
est
imat
ed b
y ad
ding
to b
onds
, not
es, a
nd s
ortg
ages
nay
eble
by in
vest
men
t tru
sts
and
hold
ing
com
pani
es(line 1)
a co
nsta
nt o
f 12
4 bi
llion
to c
orre
ct th
e le
vel.
Thi
s eo
ntat
is th
e ap
prox
imat
e di
ffer
ence
betw
een
line
I an
d to
tal r
ecei
vabl
es a
nd in
vest
men
ts o
ther
than
Fed
eral
Gov
erum
ent o
blig
atio
ns h
eld
by in
vesi
mnt
trus
ts a
nd h
oldi
ng c
ompa
nies
reported
in S
tatis
tics
of I
ncom
e as
of
Dec
embe
r 31
, 193
9.
p
Secu
rity
and
Rea
lty F
irm
aat
a].
-Lo
anfu
nds
(mill
iona
of
dolla
rs)
SR 3
03
BTotal
mtg
. deb
t of
HR
CT
otal
mtg
. deb
t of
Bus
, Pr.
& P
t. at
a].
DT
otal
, mtg
. deb
t of
nonc
orp.
Sec
. & f
t. Fi
rma
atal
-K
Deb
t of
svga
. & lo
an a
ssns
. il
FB
onds
,no
tes,
tntgs.
payb
i., m
atur
ity u
nder
1yr.,
Corp.
Sec.
& ft. Firma
(exc
l.sec. dealers)/
GEat, short—term
debt
,noncorp. Sec. & R. Firms
ata].
(excl. sec. dealers)
HOther debts paybl., noncorp. Sec. & ft. Firma
atal
(exci.
sec.
dea
lers
)
urce
Ref
eren
ce
26,443
Survey
of C
urre
ntBusiness
Sept
, 194
6,p.
27
HR 302 N
PP 3
01 T
A m
inus
(B
+ C
)
Unp
ub. R
epor
t, Fe
d. H
ome
Loa
n B
ank'
A,
Stat
,of
Inco
me
1939
. Pt.
2, T
hi,4
(+
Sour
ce B
ook,
BIR
)
I. K m
inus
LSR
302
ISt
at,
of Income 1939,
+So
urce
Boo
k, B
IR)
18,8
87N
thru
Qft
31,832
M+
RS
line
F ex
clud
essecurity and commodity—exchange.
holding companies,
and
other corporations
hold
—
Oth
er D
ebts
Payuble
Payb
l.by noncorp. Sec. & ft. Firma
ata].:
AV
alue
of
all u
rban
rca
,coma. mtgs. owed by nonoorp.
tran
ssct
ors.
25,9
70
12,0
113,
278
10,6
81 677
2,66
2
12,2
603,
166
11,0
17 638
2,739
532
548
Est
. as
F x
(20%
)
11,8
9012
,203
D+E+'G
IBonds,
note
s, it
gs.
paybl.,
mat
urity
ove
r 1
yr.,
corp
. sec
. dea
lera
ilJ
Eat, long—term
debt
,nonoorp.
eec,
dealers
KBank
loan
s to
bro
kers
& d
eale
rs f
or p
urch
asin
g or
car
ryin
g' s
ac,
LE
at, b
ank
loan
s to
noncorp. eec. dealers
,t4
Tot
al o
ther
deb
ts p
ayb]
.., n
onco
rp, S
ec. &
ft.
Finn
s at
a].
Payb
l. by
cor
p. S
ec. &
R. F
irm
s et
al:
NB
onds
, not
es,mtgs. paybl., maturity over 1 yr., corp.
SOC.
dealers
0B
ank
loan
s to
cor
p. b
roke
rs &
dea
lers
PAll bonds,
note
s,rntgs. paybl., mv.
trus
ts &
hol
ding
coB,
QAll bonds,
note
s, m
tgs.
paybl., corp.
Sec.
& ft. Firma
eta].
(excl. sec. dealers & inv. trusts
& h
oldi
ng c
os.)
/R
Cther
debt
spaybi.,
Cor
p. S
ac. &
R. F
irm
a et
al
SOther
debt
s pa
ybi.,
See
. & R
. Fir
ms
et a
l(To .B I g)
A B C D K.
'F 0 H I J K L M N 0 P Q
43 129
817
6]..3
-12
,945 '4
320
46,
265
12,3
75
68 204
1,00
275
112,845 68
251
6,766
12,1
20 /
19,2
0532,050
Stat
, of
Income
1939
, Pt.
2, T
b]..
4Eat, as 3x I
Fed.
Res
. Bul
l. M
ay 1
46, p
. 508
Eat
,as K x
(75%
)H+J+L
V'T
his
item
incl
udes
dep
osits
, inv
este
ent c
ertif
icat
es, b
orro
wed
mon
eyand
loan
s in
pro
cess
.2J
mia
cla
ssif
icat
ion
incl
udes
all
indu
stry
gro
ups
liste
din footnote
ilto
SR101, except that
brok
ers
and
deal
ers
and
line
Q e
xclu
des
inaddition investnent trusts and
inve
stm
entcompanies,
Pt. 2
, Tbl
. 4
in$
secu
ritie
s./T
hc1u
des
secu
rity
and
com
mod
ity-e
xcha
nge
brok
ers
and
deal
ers.
1*/See
foot
note
j,/ t
o SB
. 302
for a listing of the industry
grou
ps in
clud
ed in
thie
cla
ssif
icat
ion.
i/Thi
sitei*
was
est
imat
ed f
or d
ates
before December 3.1, 1939
onthe basis of data in
the
Surv
ey o
f A
mer
ican
Listed
Cor
pora
tione
193
5—19
.39,
Secu
ritie
s an
d E
xcha
nge
Com
mis
sion
,'5.I-
Secu
rity
and
Rea
lty F
irm
s et
a]. —
Loan
fund
s(m
illio
nsof dollars)
and
Val
uatio
n A
djus
tsnt
SR30
4
Pad—
In C
apita
].A
Prop
riet
orsh
ip, c
orp.
Sec
. &R
. Fir
ma
eta]. (exol.
mv.
trus
ts& holding cos. & ins, agents)
1/B
Incr
emen
t in
prop
riet
orsh
ipC
Additions to surplus
)/,
corp
.Sec. &
K. Firms et al (axel. mv.
trus
ts&
holding cos. & ins, agents) /
DNew
pd.-
incapital ,/
HE
at. p
d.-i
n ca
pita
l, co
rp.
Sec. & K. Firms
eta]. ,/
3:3,
351
'F
Svga
. & lo
an a
sans
., pd
.-in
cap
ital
oT
otal
pd.
-in
capi
tal,
Sec.
& K
. Fir
ms
etal
(ToP&BXh)
H T
ptal
LD
anfu
nds
Para
ble
(To
cBX
i)69
,684
Val
uatio
n L
osse
s. N
etI
Net
val
uatio
n lo
sses
, Bks
. & U
. S. M
on. i
nds,
Lif
e In
s. C
os.,
Oth
erIns.
Car
rier
s
3E
at. n
et v
alua
tion
loss
es,
Sec.
& K
. Fir
ma
et a
].(T
0P&
BX
m)
2232
Sou
rce
Ref
eren
ce
10,3
56St
at,of Income 1939, Pt. 2, Tbl. 4
—81
Incr
emen
t in
AB
-345
Stat
,of Income 1939,
Pt..2
, Tbl
../
C
+26
4BminuaC /
33,6
15Eat, as cumulative of D with 1936
set
at 1
33 1
/3billion
File
s, F
ed. N
ose
Loan
Ban
k M
m.
E+
F
69,8
07(s
R30
2o)+
(sR
3o38
)+(5
R33
40)
+ 2
02(B
K 3
03 N
) +
(L
I 30
1 I)
+ (oi
304
K)
+ 1
01E
at, a
sI x
(50%
)
10,4
37A
4,00
54,
060
37,3
5637
,675
D H F 0 H I 3
'Thi
s cl
assi
fica
tion
includes all
indu
stry
gro
ups
listed in
foot
note
' ,/ t
o SR
101
except
inve
stm
ent t
ruts
and
inve
stm
entcompanies,
hold
ing
com
pani
es, o
ther
cor
pora
tions
hol
ding
sec
uriti
es, a
nd in
sura
nce
agen
t! •
Yea
r—to
—ye
arch
ange
s in
Sta
tistic
s of
Inc
ome
data
on
prop
riet
ors'
equi
ty in
inve
stm
ent t
rust
s an
d ho
ldin
g co
npan
ies
appa
rent
i,y r
efle
ct c
hang
es in
indu
stri
al c
lass
ific
atio
n to
suc
h an
ext
ent t
hat a
ctua
lch
ange
s in
equ
ity a
re o
bscu
red.
Dat
a fo
r su
ch c
orpo
ratio
ns h
ave
ther
efor
e be
en o
mitt
ed f
ron
line
A th
roug
h lin
e D
'but
an
estim
ated
ave
rage
equi
ty f
or in
vest
men
t tru
sta
and
hold
ing
com
pani
es h
as b
een
Incl
uded
in li
ne L
Ins
uran
ce a
gent
s w
ere
sim
ilarl
y ex
clud
ed in
the
com
puta
-tio
n of
line
.D, s
ince
they
wer
e no
t sho
wn
sepa
rate
ly in
Sta
tistic
s of
Inc
ome
until
194
1 an
d si
nce
thei
r in
clus
ion
'wou
ld h
ave
mad
e lit
tledi
ffer
ence
•T
hus
inve
stm
ent t
rust
s an
d ho
ldin
g co
mpa
nies
and
insu
ranc
e ag
ents
aff
ect t
he le
vel b
ut n
ot th
e ye
ar-t
o—ye
ar m
ovem
ents
of
H,
V'T
he d
ata
in th
e B
urea
u of
Int
erna
l Rev
enue
Sou
rce
Boo
k fo
r ye
ars
prio
r to
193
8 re
fer
to a
mat
eria
lly d
iffe
rent
gro
up o
f co
rpor
atio
ns(d
efin
ed in
terms
of th
e B
urea
u's
old
Indu
stri
alclassification).
Con
aequ
ent]
y it
was
nec
essa
ry to
mak
e an
arb
itrar
y gu
ess
for
new
pai
d—in
'ca
pita
l(line
D)
for
1938
in o
rder
tosplice the old end the new
Bur
eau
of I
nter
nal R
even
ue s
erie
s.2/
Com
pile
d ne
t pro
fit a
fter
taxe
s m
inus
cas
h di
vide
nds,
-
W'it
was
arb
itrar
ily a
ssum
edthat
mai
d—in
cap
ital D
ecem
ber
31, 1
936
was
$33
1/3 billion.
The
Res
tof
the
Wor
ld —
Ord
inar
yR
ecei
pts
(mill
ions
of
dolla
rs)
mi 1
01
Cas
h D
iyid
euds
AD
iv. r
ead.
fro
m m
v, in
aff
iliat
es L
I
BR
at. d
ie, r
eed.
fra
n ot
her
mv.
3/
CT
otal
div
. rea
d, b
y R
of
V (
To
..II
A)
Gas
h. I
nter
est
Dm
t. re
ad, f
rom
inv.
in a
ffili
ates
Li
NR
at. m
t. re
ed, f
rom
oth
er m
v, 3
/F
.T
otal
int.
reed
, by
ft o
f V
(T
o P&
B I
I B
)31
Rec
eint
a fr
om-
Cus
tom
ers
-
0T
otal
U. 8
. ads
e. im
port
sH
U. S
. silv
er im
port
s &
net
doe
nstic
cons
umpt
ion
of g
old
,//
IR
ever
se le
nd—
leas
e &
oth
er U
. S. G
ovt.
.ae.
'tra
nsfe
rs 4
/3
AdJ
. U. S
. isl
es, i
mpo
rts
(To
cB X
I C
)U
. S. s
ervi
ce im
port
eiI
Prof
its tr
ansf
erre
d fr
om U
. S. b
ranc
hes
offo
reig
n co
s.L
Ship
ping
& f
reig
ht c
harg
es (
exci
. rev
erse
lend
—le
ase)
KPe
rson
al tr
avel
VM
isc,
ser
vice
s re
nder
ed to
U. S
. Gov
t.0
Rev
erse
lend
—le
ase
serv
ices
P)8
..ec.
ser
vice
s pu
rcha
sed
by U
. S. G
ovt.
4Pr
ivat
e m
isc,
ser
vice
sft
-Oth
er m
isc,
pay
men
ts b
y U
. S. G
ovt.
/S
Tot
al U
. S. s
ervi
ce im
port
s (T
o cB
XI
D)
TU
. S. s
ilver
impo
rts
(To P XI N)
UTotal
rece
ipts
from customers by U of
V
Sour
ce R
efer
en
50In
tern
atio
nal l
'rans
act1
nn o
f th
e U
,, 8.
Dur
ing
A-
the
War
, 194
0-19
45, U
. S. D
ept.
of C
oom
.,/
Tbl
.1.3
125
mid
.18
017
5A
+B
Intl.
Tra
ns. o
f U
. S.,
Tbl
. 13
Ibid
.D
+N
Intl.
Tra
ns. o
f U
. S.,
ml.
4T
hiL
I.
0m
id.
2,65
5G
min
ns(R
+I)
32In
tl. T
rans
. of
U. s
., m
l. 13
K
334
Ides
, App
. B, T
bl. I
L
Men
, Thl
. 32
Idem
, Tbl
. 20
mid
.N
min
us 0
Intl.
Tra
ns. o
f U
. S.,
ml.
19Fi
les,
U. S
. Dep
t. of
Com
e., I
n-tI
. Noo
n, D
iv.
1+ L
+K
+ P
+ 4
+ f
tIn
tl. T
rans
. of
U. S
., T
bl. 4
3+3
+T
3 14 17
2,71
3 58
B C D I F 0 B
2,31
8
775 91
3,18
4
190 93 0 93 95 32 756 58
3,46
9Fo
r fo
otes
see
W 1
02,
K N 0 P 4 a 3 T
The
Res
t of
the
Wor
ld —
Ord
inar
yR
ecei
pts
W(m
illio
ns o
f do
llar.
)
Sour
ce R
efer
enç
Pebl
ic P
urpo
se P
avee
nts
£Fe
d. G
ovt.
cont
ribu
tions
—ai
dto
Chi
na (
To
P&B
XI?
)0
0In
tl. T
rans
. of
U. S
., A
pp. C
., T
bl. X
XIV
A
5Pe
rson
al r
emitt
ance
s re
cd. b
yE o
fW (
To
}.B
IIG
)14
418
8Id
en, T
bl. X
IIB
CIn
stitu
tiona
l rem
ittan
ces
reed
. by
aof
V43
49Id
em, i
'bl.
XII
IC
(Toi
BX
IH)
DT
otal
pub
lic p
urpo
se p
aym
ents
18?
237
A +
B +
CD
BO
rdin
ary
Rec
eipt
p (T
o P&
B X
I 3)
-3,
553
898
(lOi
C +
P +
U)
+ (
Rw
15D
)B
ilThi
s re
pres
ents
inco
me
from
inve
stm
ents
cla
ssed
In
the
Dep
artm
ent o
f C
omne
rce
cate
gory
"di
rect
inve
stm
ents
"; s
ee T
he U
nite
d St
ates
in th
eW
orld
Eco
nom
y, p
p. 1
00-1
05.
a/m
i. 1
refe
rred
to h
erea
fter
as
Intl.
Tra
ns. o
f U
. S. L
U d
ata
for
year
s be
fore
194
0 ar
e fr
om h
e U
nite
d St
ates
in tb
eWor
ld E
cono
my,
U, S
.D
epar
tmen
t of
Coe
rce,
App
endi
x T
able
s I,
II,
and
III
.3.
/Inc
ome
from
por
tfol
io in
vest
men
ts h
as b
een
allo
cate
d as
fol
1oip
90
perc
ent d
ivid
ends
, 10
perc
ent i
nter
est.
UT
hese
item
s ar
e in
clud
ed in
mer
chan
dise
impo
rts
and
expo
rts
In th
e cu
rren
t com
puta
tion
of th
e ba
lanc
e of
pay
men
ts b
y th
e D
epar
tmen
t of
-C
omm
erce
.-
-
i/The
curr
ent b
alan
ce o
f pa
ymen
ts c
ompu
tatio
n in
clud
es in
Uni
ted
Stat
es m
erch
andi
se im
port
s th
e ne
t Uni
ted
Stat
es n
onm
onst
ary
cons
umpt
ion
ofgo
ld.
Net
not
men
etar
y co
nsum
ptio
n is
def
ined
as
dom
estic
gol
d co
nsum
ptio
n fo
r no
znet
ary
purp
oses
min
us d
omes
tic p
rodu
ctio
n of
gol
d w
hen
this
dif
fere
nce
is g
reat
er th
an z
ero.
For
each
of
the
year
s un
der
stud
y, 1
936
thro
ugh
1942
, dom
estic
gol
d pr
oduc
tion
exce
eded
dom
estic
non
—m
onet
ary
cona
tcap
tion
and
the
net d
omei
tic g
old
cons
umpt
ion
com
pone
nt o
f lin
e H
on
FSJ
101
was
take
n as
zer
o.Fo
r ye
ars
in th
ioh
dom
estic
prod
uctio
n ex
ceed
s no
nnon
etar
y co
nsum
ptio
n, th
e ex
cess
is in
clud
ed I
n U
nite
d St
ates
mer
chan
dise
exp
orts
(see
*i 2
01 J
)./T
hia
item
was
ass
umed
to b
e a
cust
omer
mon
eyfl
ow.
Det
aile
d itf
orm
atio
n on
its
onpo
sitio
n w
as o
btai
ned
too
late
to p
eiin
it a
recl
assf
fjca
...tio
n in
this
stu
dy.
Its
prin
cipa
l com
pone
nts
are
publ
ic p
urpo
se. p
aym
ents
and
tax
refu
nds,
S
0
A B C K L N N 0 P Q H S T U
The
Res
t of
the
Wor
ld-
Ord
inar
yE
xpen
ditu
res
(mill
ions
of
dolla
rs)
Sour
ce R
efer
ep
Intl.
Tra
ns. o
f U
. S.,
Tbl
. '].
3Ib
id.
l+B
Intl.
Tra
ns. o
f U
. S.,
Thl
. 1.3
Ibid
.Ib
id.
D+
E+
F
Intl.
Tra
ns. o
f U
, S.,
Thi
, 4Id
em, m
l. 21
Idem
,Thl
.4-
Ibid
.(H
+ I
) m
inus
(J
+ K
)In
tl. T
rans
. of
U. S
., T
bl. 4
Idea
, Thl
. 13
Idei
n, A
pp. B
., T
bl. I
Idea
, Tbl
. 12
Idea
, Thi
. 20
Ibid
.Q
min
usH
Intl.
Tra
ns. o
f U
. S.,
Thl
. 19
N +
0 +
P +
S +
T.
L+
M+
U
RU
201
A B C D B P a B I J K L N N 0 P Q N S 1' U V
.It
Cas
h D
ivid
ends
Div
. pd
on m
v. I
naf
filia
tes
1/D
iv. p
d. o
n ot
her
mv.
2/
Tot
aldl
v. p
d. b
y U
of
V (
To
P&B
II
N)
Cas
hIn
tere
stD
hit.
p&. o
n m
v. in
aff
iliat
es 2
/K
hit.
od. o
n ot
her
tnT
. 2/
•F
hit.
pd. o
n sh
ert.-
texm
loan
sG
Tot
al tn
t. pd
. by
K o
f V
(T
o P&
B X
I N
)
Spen
t by
H o
f U
a a
Cus
tom
eyH
Tot
al U
. S. n
dse.
exp
orts
IU
. K. c
apita
l ass
ista
nce
3U
. S. s
ilver
exp
orts
+ n
et d
omes
ticpr
oduc
tion
of g
old
3/ h
iL
end—
leas
e &
oth
er U
S. G
ovt.
edge
, tra
nsfe
rs 3
/M
j. U
. S. e
dse,
exp
orts
(T
o P&
B X
I P)
U. S
. silv
er e
xpor
ts (
To
P&B
XI
H)
U. S
. ser
vice
exp
orts
:Pr
ofits
fro
m f
orei
gn b
ranc
hes
of U
. S. c
os.
Ship
ping
& f
reig
ht c
harg
es (
exci
. len
d—le
ase)
Pers
onal
trav
elM
isc,
ser
vice
s re
nder
ed b
y U
. S. G
ovt.
Len
d—le
ase
serv
ices
Mis
c, s
ervi
ces
sold
by
U. S
. Gov
t.Pr
ivat
e a_
iso.
ser
vice
sT
otal
U. S
. ser
vice
exp
orts
(T
o P&
B X
I Q
)V
Tot
al p
urch
ases
of
U. S
. goo
ds &
ser
vice
s by
R o
f V
2Q 278
12
3I3
290 38
130 ,6
158
174
4,12
414
515
2 03,
2.41
4,11
714
4
6897 403 95 20 0 20 150
552
765
3,80
74,
886
2/Se
e R
U 1
02 f
ootn
ote
2/.
-.
2/in
com
epa
pmen
ts o
n po
rtfo
lio in
veat
nent
s w
ere
allo
cate
d as
fol
low
ssdo
llar
hood
s, 1
00 p
erce
nt in
tere
st; m
isce
llane
ous
inve
snts
, 80
pez
cent
inte
rest
and
20
perc
ent d
ivid
ends
.3/
See
RU
102
foo
tnot
e hi
.h/
Net
dom
estic
pro
duct
ion
of g
old
Is d
efin
ed a
s do
mes
tic p
rodu
ctio
n m
inus
dom
estic
non
etar
y co
nsum
ptio
n, 4
ien
this
dif
fere
nce
is g
reat
erth
an z
ero.
See
RU
102
foo
tnot
e 3/
..
The
Bes
t of
the
Wor
ld —
Ord
inar
yE
xpen
ditu
res
(mill
ions
of
dolla
rs)
Sour
ce R
efer
ence
hot P
aym
ents
for
Rea
l Elta
te T
ranp
fers
. etc
.A
Titl
es to
for
eign
pro
pert
ies
-+
32In
tl. T
rans
. Of
U. S
e,T
hi. 2
1-
Eat
,sa
les
less
pur
chas
es b
y U
. S. t
rans
acto
rs /
BT
itles
to U
. S. p
rope
rtie
s0
Ibid
.B
Eat
, sal
es le
ss p
urch
ases
by
R o
f U
/-
CN
et p
aym
ents
by
R o
f V
for
rea
l est
at9
32A
min
us B
Ctr
ansf
ers,
etc
. (T
o P&
B X
I S)
Pub
licP
urno
se P
aym
ents
DPe
rson
al r
emitt
ance
s (T
o tB
XI
T)
3659
Intl.
Tra
ns. o
f U
. S.,A
pp. C
, l'b
l. X
X1)
ET
otal
Ord
inaj
7 E
xend
iture
(T
o P&
B X
I U
)4,
323
5,44
1(i
20]
. C +
0 +
V)
+ (
RN
2C
Q C
+ D
)
2/L
ine
A s
take
n to
be
equa
l to
Uni
ted
Stat
es r
ecei
pts
frow
n sa
les
of d
irec
t inv
estm
ents
abr
oad
less
Uni
ted
Stat
es p
aym
ent.
for
azro
haee
e of
dire
ct in
vest
men
ts a
broa
d (r
natio
na1
Tra
nsac
tions
of
the
Uni
ted
Stat
es P
urin
a th
e W
ar, T
able
21).
Lin
e B
i ta
ken
to b
e eq
ual t
o re
ceip
t.by
the
Res
t of
the
Wor
ld f
rem
sal
es o
f di
rect
inve
stm
ents
in th
e U
nite
d St
ates
. los
e pa
ymen
t. fo
r]1
roha
ses
of d
irec
t 1nv
esnt
e in
the
Uni
ted
Stat
es.
The
term
dir
ect i
nves
tmen
ts a
s us
ed b
y th
e D
epar
tmen
t of
Com
eere
e co
vers
tran
sact
ions
oth
er th
anIn
tern
atio
nal t
rans
actio
ns in
title
sto
tang
ible
pro
pert
y, a
nd s
ome
of th
ese
inte
rnat
iona
l titl
e tr
ansa
ctio
ns. a
re I
nclu
ded
e1se
ther
e in
the
Com
eere
e4oo
npils
tion.
The
Res
t of
the
Wor
ld —
Loap
fund
a(a
illio
ns o
f do
llars
)W
301
ASSETS, DEC1B 31
Crr
encv
and
Den
oalts
(N
et)
AC
hang
es in
for
eign
hol
ding
s of
U. S
. cur
renc
y
BSe
t. ne
t for
eign
hol
iings
of
i. .
curr
ency
CFo
reig
ndeposits
in th
e U
. S. (
DU
. S. d
epos
itsab
road
fK
Net
for
eign
dep
osits
In
the
U. S
.P
Net
cur
renc
y &
dep
osit
liabi
litie
s to
H o
f U
(To,
NB
xi x)
Faders]. Obligations
0Fe
d. g
ovt.
debt
hel
d by
H o
f U
(T
o N
B X
I I)
Oth
er L
oana
and
Sec
uriti
esH
Rec
orde
d ne
t cha
nge
in
fore
ign
long
-ter
aca
pita
linvested
In U
. S.
IR
ecor
ded
net c
hang
e in
for
eign
sho
rt-t
erm
capi
talinvested
in 1
3S.
JU
nrec
orde
d ne
t cha
nge
in o
ther
for
eign
capi
tal
invested in U.
S. (
tota
l of
unid
entif
ied
tran
sact
ions
)K
Tot
al n
etchange in foreign capital
inve
sted
in U
.S.
Net
pey
men
ta b
y H
of
V f
or r
eal e
stat
etransfers
U. K
. cap
ital a
ssis
tanc
eT
estin
gs b
y th
e A
lien
Property Custodian
Change
inne
tcu
rren
cy &
dep
osits
ow
ned
'by
H o
fWN
etchange
in lo
ans
& s
ec. o
wne
d by
H o
f U
•E
at. n
et lo
ans
&.s
ee. o
wne
d by
H o
f V
Fed.
Gov
t. de
bt h
eld
by N
of
WO
ther
Inane & see, held by N of
U (
Net
)(T
oP&B
liz)
TT
otal
Loe
nfun
da R
.cei
vabl
. (T
o N
B X
X a
)Fo
r fo
otee
see
RU
302
.
Sour
ce R
efer
ees.
+ 1
31+
38
Pile
s, U
. S..
Seat
. of
Cow
.,In
tl. N
eon.
Div
.
00
0T
ech.
Pap
erNo. 5,
Nat
. ,0
Eco
n.Research, 1947,
Tbl
. 4
27—
73In
tl. T
ana.
of
U. S
., T
ol. 2
].
I z K
+9
+32 145 0
•R
U2C
RU
20l1
Intl.
Tra
ns. o
f U
. S.,
Thl
. 21
L )( 1+
1,25
4+
819
Incr
emen
t inF
0
÷1,
023
3,49
5 0
+1,
738
5,23
3 0
1 m
inus
CL
+ H
+ N
+ 0
)C
umul
ativ
eof
P fr
om 1
2/31
/35
/0
'
P Q I3,
495
5,233
Q m
inus
KS
4,34
46,
621
9,17
8F
0S
'T
1,47
0+
1,53
0Id
em, m
l. 24
789
+1,
277
Idem
, Tb]
.. 1
+2,
286
+2,
734
H+I+J
371,
985
150
1,83
51,
872
168
3,02
5 6'?
2,95
83,
126
063,
786
473,
739
3,945
Hat, as
cum
ulat
ive
of A
fro
m 1
2/31
/35
/T
reas
nyB
ull.
Sept
. 194
6,p.
80-
Ibid
.C
mln
usD
B C D H P
L H N 0 P Q H S
2,41
2. 02,
472
The
Res
t of
the
Wor
ld —
Lca
n.tu
nds
(mill
ions
of
dolla
rs)
Sour
ce R
efer
ence
LIA
BIL
ITIE
S, D
EC
EE
R 3
1-
Gol
dSt
ock
AN
et I
ncre
ase
(+)
orde
crea
se (
-) in
0. S
.il
+4,
243
Intl.
Tra
ns. o
f U
. S.,
App
. C, T
hi. U
TA
gold
stoc
k-
BN
et in
crea
se (
+)
due
to n
et d
omee
tioId
en, T
hi, 4
B
prod
uctio
nC
-E
at. n
et im
port
s of
gol
d+
3,01
8+
4,09
5.E
at. a
s A
sin
us B
c
BE
at, l
iabi
lity
of R
of
W s
/c U
. S. g
old
4,07
57,
093
11,1
88E
at, c
umul
ativ
e of
C w
ithD
impo
rts
(To
P&B
II
b)12
/33,
135
set a
t aer
o-
ET
otal
Loa
nfun
ds P
ayab
le (
To
P&B
II
c)4,
075
7,09
311
,188
D
1/U
nite
d St
ates
hol
ding
s of
for
eign
cur
renc
ies
wer
e as
sum
ed to
be
negl
igib
le.
3/T
his
Deo
embe
r 31
, 193
5 fi
gure
was
arb
itrar
ily s
et a
t aer
o.llS
light
]y m
ore
satis
fact
ory
figu
res
on f
orei
gn b
alan
ces
held
by
Uni
ted
Stat
es tr
ansa
ctor
a an
d ba
lanc
es in
the
Uni
ted
Stat
es h
eld
by f
ore
ijntr
ansa
ctor
s ar
e to
be
foun
d in
the
file
s of
the
Inte
rnat
iona
l Eco
nom
ics
Div
isio
n, U
. S. D
epar
tmen
t of
Coi
mse
rce,
The
se f
igur
es d
id n
otbe
com
e av
aila
ble
in ti
me
for
incl
usio
n in
this
stu
dy.
i/The
met
hod
of in
corp
orat
ing
net g
old
mov
emen
ts in
the
bala
nce
of p
aym
ents
was
cha
nged
for
the
year
s af
ter
1939
.Fo
r a
disc
ussi
on o
f th
is-
chan
gese
e In
tern
atio
nal T
rans
actio
ns o
f th
e U
nite
d St
ates
Dur
in&
the
War
19/
,0-1
945,
U. S
. Dep
erIn
ent
of C
omm
erce
, pp.
170
—17
1.Se
e al
soR
N l(
foo
tnot
e il
and
RN
201
foo
tnot
e hi
.-
GN
P E
xpen
dith
rea
and
Oth
er O
rdin
ary
Tra
nsac
tione
Hou
seho
lds
(mill
ions
of
dolla
rs)
GN
P 10
1
3N
onfl
nal p
rodu
ct e
xpen
ditu
res
TDistributive share receipts, etc.
(To ml. 33 A,
line
E)
2251
,240 1:36
51,1
04 854
1,324
3,89
81,5cY2
103
1,03
9841
60,6
65 600
45,1
031,627
3,$3
19,
271
136
60,568
136
60,4
32
A B C K p G H I J K L H 0 P Q R S T
GN
P K
xnen
ditu
rea
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ent b
y H
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s cu
stom
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valu
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existing
e.B
8etB
pur
chas
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n A
CSp
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y H
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).D
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r oc
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ll in
stal
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con
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prop
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taxe
sK
Tot
al G
NP
expd
. (T
o T
hi. 3
3A,
line
A)
Dje
trib
utiv
e Sh
are
Rec
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s. e
tc.
Prod
uct r
ecei
pts:
LN
et p
aym
ents
for
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l est
ate
tran
sfer
sH
Gro
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NC
ash
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0C
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PN
et o
wne
r ta
keou
ts-
QR
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pts
from
cus
tom
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RTotal product receipts
1947
Sup
pl.,
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Sour
ce R
efer
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mi
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H1O
1P+
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urre
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H 2
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RH
202
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01 q
HH
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0)
min
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GN
P 10
2 F)
HR
101
DH
R 1
01 K
RH
101
?.L
thru Q
B R minus S
and
heal
thinsurance,
mut
ual a
ccid
ent
and
sick
benefit associations,
2/In
clud
es f
ire
and
thef
t ins
uran
ce o
n pe
rson
al p
rope
rty,
acc
iden
tau
tom
ebil.
insu
ranc
e an
d ex
pens
e of
handling
life
insurance.
5.
1- 'p
GN
P R
xpen
ditu
res
and
Oth
er O
rdin
ary
Tra
nsac
tions
Hou
seho
lds
(Con
tinue
d)(n
ilhio
ris
of d
olla
rs)
GN
P l
Net
Tra
nsfe
r Pa
vmen
tsT
rans
fer
rece
ipts
:A
Publ
ic p
urpo
se p
aym
ents
BT
ax r
efun
dsC
Insu
ranc
e be
nefi
tsG
ovt.
mt.
pd. (
net)
DFe
d. G
ovt.
HSt
. & L
. Gov
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gov
t. m
t. pd
., Fe
d. +
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& L
. Gov
t.0
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al tr
ansf
er r
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pts
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r pa
ymen
t:'H
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IT
axes
pd.
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rope
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tax)
3In
s. p
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e (e
xci.
GN
P ex
pd.)
KT
otal
tran
sfer
pay
men
tsL
Net
tran
sfer
psy
men
te (
To
Tbl
. 33
A, line
C)
N T
otal
ord
inar
y re
ceip
tsN
Total
ordi
nary
exp
d.
1,55
7 243,
673
634
416
1,05
06,304
1,12
42,
316
2,734,
6,174
—13
0
66,72
66,9
75
RH
103
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HR
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us D
D +
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s)+
(GN
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RH 203 T
A B C D H F 0 H I I L N I
22
RH
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HR
202
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Of
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106
WV
57of
Cur
rent
Bua
lnes
e, J
. 1.9
47 S
ul.,
701.
31
UA
x(1)
95A
mlm
iaB
894
1020
1197
Sur
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of C
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t Bus
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s, Z
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947
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Exp
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d.C
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+ B
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Pt.
etil
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11
AC
rude
pet
role
um &
nat
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gas
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con
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BR
elig
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, edn
a., h
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stit.
con
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Com
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mis
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r. e
xod,
by:
CA
ll T
rans
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s1)
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., A
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FL
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& B
us. P
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new
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p. a
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rude
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pib
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actio
naPr
oduc
t rec
eipt
o:S
Cas
hint
.T
Cas
h di
v.U
-Ins
taim
mnt
s to
con
trac
tors
VG
ross
rents
,W
Tax
ref
unds
KR
ecei
pts
from
cus
tom
ers
IT
otal
pro
duct
rec
eipt
sFo
r fo
otno
te s
ee G
NP
106.
Sour
ce R
efer
ence
367
Surv
ey o
f C
urre
ntBusiness,
.Iy.
1947
Supp
i,,A
ml.
2 m
inua
.Tbl
. 31
r/12
2Id
em, m
l. 31
-B
mid
.(G
NP
117
A)
+ (
GN
P 11
9 A
)+
'(GN
P 12
1 B
)C
min
usD
Surv
ey o
f C
urre
nt B
usin
ess,
Jy.
194
7 Su
ppl.,
Thl
. 31
Ibid
.-
A+
B+
E+
F+
G-
Eat
,as
95%
of
(A +
F +
C)
--
Ret
, as
H x
(30
%)
jI+
JK
Est
.asR
min
usK
-
.
Surv
ey o
f C
urre
ntB
usri
ee,:'
1947
Supp
l.,T
bl.
3214
GN
P1O
3DN
Gnp-iog L
0M
min
us(N
'pO
)P
Surv
ey o
f C
urre
ntB
usin
ess,
Jy.
1947
Supp
i.,m
l.33
Q
K+
P+Q
-R
342
IC1O
1B-
•
S
967
IC1O
1AT
2,20
8IC
101
T -
-U
524-
IC1O
1FV
38IC1O2K
.W
119,
495
IC 1
01 S
X12
3,57
4S
thru
Iy
GN
P E
xpen
ditu
res
and
Oth
er O
rdin
ary
Tra
nsac
tions
Indu
stri
al C
orpo
ratio
ns(m
illio
ns O
f do
llars
)
ClI
P 10
5..
419
171
248
254
494
1,475
1,06
1 751,13E "9
4,57
769
1,13
12,752
-25
14,
1,39
C D H F G U
•G
NP
Hxp
endi
ture
aan
d O
ther
Ord
inar
y T
rans
actio
ns0
106
Indu
stri
al C
orpo
ratio
ns (
Con
tinue
d)(m
fllio
nsof
dollars)
- •O
ther
Pod
uct T
rans
actio
ns (
Con
t,)N
onfin
al p
rodu
ct e
xpd.
,S
pent
by m
d. C
orp.
as
custonsre
Instalments
to c
ontr
acto
rsG
ross
cas
hpay
GNP
expd
. a/c
A +
B +
CN
onfi
nal p
rodu
ct e
xd. s
/c£
+ B
+ C
Cash
mt.
Cas
h dl
v.G
ross
ren
tsT
axes
col
lect
edN
etpayments
for
real
est
ate
tran
sfer
sT
otal
non
fina
]. p
rodu
ctexpd.
LProduct
rece
ipts
min
us n
onfi
nal p
rodu
ctexpd.
(To
Thl
.33 A,
line
T)
Nei
t rra
nafe
rPaymete
Tra
nsfe
rreceipts:
MPublic purpose
paym
ents
NIns,
bene
fits
0Total transfer receipts
Tra
nsfe
r pa
ymen
ts:
PPublic
purp
ose
paym
ents
QIn
s.pr
emiin
aR
Tot
al tr
ansf
er p
aym
ents
SNet transfer
paym
ents
(T
o T
bl. 3
3A, line B)
TTotal ordinary
rece
ipts
UT
otal
ord
inar
r ex
pd.
m2
Sou
rce
Nef
ece
81,455
681
25,2
244,
339
103,
221
1,78
04,
290
l850
6,45k
100
117,
3 40
261
301
IC
IC Ms
102
102
N
T P
N N °
27
1,053
1,080
IC
IC P+
203
203
Q
H G-
P Q B
779
Rm
inus
0S
(GN
P 10
5!)
+ (
GN
P 10
6 0)
Ic
102
U(aN?
105
R)
+ (
Gm
' 106
K +
B)
= I
C 2
03 I
A B C D K P 0 H -I J K
1C20
2AA
IC20
20B
1C20
1AC
GNP1O5R
D(A+B+C)minusD
!
•IC2O1H
F1C201G
0IC2O1V
H1C202P
I-
IC202B
JZtbruJ
K
(Gm
'105!)
min
us-(
ON
P 10
6K)
L5,
881
123,
875
122,
912
i/Rev
ised
Dep
artm
ent o
f C
omm
erce
est
imat
es o
fconstruction expenditure
estim
ates
(fr
om th
eSurvey
ofCurrent Butheas.
July
1947
Snsmlemqt)
are
used
her
e, a
lthou
gh e
arlie
r es
timat
es w
ere
the
basi
s of
the
figu
res
in th
e St
atem
ents
of
paym
ents
and
'bal
ance
s,T
hecost significant
ofthe
revi
sion
s is
the
tren
tmen
t of
GN
P 10
5 lin
e A
abo
ve a
s a
new
con
stru
ctio
n ex
oend
iture
.It
is b
elie
ved
that
this
item
is in
clud
ed in
the
estim
ates
of
tota
l ord
inar
y ex
r'end
iture
s by
Ind
ustr
ial C
orpo
ratin
ns a
nd B
usin
ess
Prop
riet
ors
and
Part
ners
hips
, and
that
the
incl
usio
nof
the
revi
sion
s of
oth
er c
onst
ruct
ion
exoe
nditu
re e
stim
ates
her
edoe
s no
t gre
atly
aff
ect t
he r
esul
ts,
T
Gri
P cp
endi
AE
at. e
xod.
for
new
non
rer.
.eon
str.
Eat
. pro
duce
rn' d
urab
le e
quie
nt e
xnd.
a/c
:B
Too
ls, p
rof-
ss1o
nal &
acl
entif
icequiçaent
C.
Eat
. exp
d.. b
y B
un. P
r. &
Pt.
et a
-i a
/c B
Con
str.
mac
hIne
ryE
at. e
rd. b
y B
us. P
r. &
Pt.
at a
l a/c
1)
Ele
ctri
cal
apoaratue
& e
quie
nt, o
ffic
e m
achi
nery
, etc
. /E
at.
exrd
. by
Bun
. Pr.
& P
t. et
a-i
a/c
FA
ll ot
her
(exe
l. fa
rm m
achi
nery
& e
quir
seen
t & tr
actu
rs)
Ent.
expd
; by
Bus
. Pr.
& P
t. at
a-i
a/c
HM
inus
Eov
tt. p
urch
ocea
not
allo
cabl
eE
at.
govt. i.irchases mci. In expd. by Bus. Pr. & Pt.. at al.
-T
otal
expd
. for
pro
duce
rs'
dura
ble
equi
rene
ntby
Bus.
Pr. &
-Pt
. at a
lby nonprofit instltut,lone /
Rec
eipt
sof
non
prof
It in
stitu
tions
Net
exr
d. b
y no
noro
fit i
nstit
utio
nsN
at th
ange
1n
noncorporote
bus.
inve
nthr
ies
Tot
al. G
NP
exyd
., B
us. P
r. &
Pt.
at a
l (T
oThi. 33
A, u
jne.
W:)
Other
Prod
uct T
ansa
ctio
nsPr
oduc
t rec
eipt
asR
Cas
h m
t.S
Cas
h di
v..
TG
ross
ren
tsU
Instalnnts
tocontrncthra
VT
ax r
efun
dsW
Rec
eipt
s fr
om c
usto
mer
sZ
Tot
al p
rodu
ct r
ecei
pts.
Surv
ey o
f C
urre
nt B
usin
en. J
y. 1
947
Supp
i., T
hi. 3
2E
rt..
as B
x (
ino%
)S
urv'
yof
Cur
rent
ilun
inea
s,Jy. 1947 Suppl., ThI. 32
Err..
os 0 x (50%)
Surv
eyof.Current
Bus
inen
s,.Ty.
1947 .Suppl., Tbl. 32
Ect. os F x
(40%
)
Surv
ey 5
f C
urre
nt R
usin
ess,
Jy..1947 Suppi., Thl. 32
Eat.
no H
x (
8%)
Surv
oy o
f C
urr.
nt B
usin
ess,
Jy.
1947 Suppl.,
ThI
. 32
.ix
(o%
)
57
PP 101 M
58
PPi0
1 N
PW_l
0l S
PP 1
02 F
PP 1
02 K
PP 1
02 E
Rth
ru V
GN
F E
xpen
dtur
rs a
nd O
ther
Od1
ruir
y T
rnr.
tctic
'ns
C11
108
etru
or. P
repr
ieto
rr a
nd P
ertn
erah
ipe
et a
l(s
I1.;i
oe o
f. d
ofl-
ar)
Sour
ce R
ef&
rc.
-
339
CU
T 1
05 L
145
145 41 793
1,90
115
2 0 0
A B C D- E F.
C H I. J K
1,13
1C
+E
+C
'-i-
I+
KL
1,970
Surv
ey o
f(l.rrenthiusiness,
Jy.
1947
Suppi.
N9'7O
(HH2l3B)+(H12l4B+c.y)
.N
1.O
ooM
mln
usN
0
93Su
rvey
of
Cur
rent
BuS
Ines
s,Jy
.1°
47Su
ppl.,
ThI
. 33
P2,
563
A--
L÷
O+
P.
Q.
221
3 ,3
3 1450
,35/
.54,017
i/see
tuP
206.
..-
i/Inc
lude
sel
ectr
ical
app
arat
us e
nd e
qutp
aent
, off
ice
mac
hine
ry, n
onre
nide
ntia
l fur
nitu
rean
d eq
uiyi
eent
, bus
ines
s no
tur
vehi
clee
,. an
d sh
ipe
and
boat
s..
.
2/T
hclu
depr
ivat
ely
cont
rolle
d ho
spita
Ja a
nd s
anita
rium
s, f
rAte
rnal
, pat
riot
ican
d w
osen
's o
rgan
izat
ions
, pri
vate
edu
catio
n, r
esea
rch,
relig
ious
nd
wel
fare
oza
n1za
tinns
. fro
m S
urve
ypf
c11I
ITt.
IsLj/.7n1l1tii'3'fP.
Tab
le 3
0, le
ss in
stIt
utio
nal d
epre
ciat
ion,
Tob
le 3
9..
-
R U V w x
GN
P E
xpen
ditu
res
and.
0th
rO
rdin
ary
Tra
nsac
tioi.s
Bus
ines
sProprietors and Partnerships et ml (Continued)
(r1Ytions
of d
clla
rs)
CU
P 10
9
PC
ash
mt.
Gro
ss r
ents
FT
axes
col
lect
edI
Net
oir
take
out
IN
et p
aym
nte
for
ra1
ecta
te •
traz
mfe
rsK
Tot
al n
onfi
nal p
rodu
ct e
xjd.
Tot
al o
rdin
ary
rece
ipts
Tot
al o
rdin
ary
expd
.
983
l3P
1,12
1 6643
950
5
616
55,1
3855
,621
PP 2
01 Q
PP.2
02 K
PP 2
01 A
GN
P10
8 Q
(A +
B +
C) minus
D
PP201 F
PP 201 P
PP
202
LPP
203
G
PP
2O1R
Eth
ru .1
(GN
P10
8 X
) m
inus
(G
NP
109
K)
PP
102
VPP
102
P14
4W
PP
203
FPP
202 P
P+Q
0 minus 8
(GUP 108
X)
+(G
NP
109
0).
PP 1
02 V
(GN
P 10
8 Q
) +
(GUi'
109
K i.
R)
= p
p 20
3 H
A B C p K F G H I J K L 14 N 0 P Q 8 S U
0thr Product Transsct1i (Cent.)
Non?in
al p
rodu
ct e
xpd.
:P.
Spen
t by
Bus
. Pr.
& P
t. at
ml a
s cu
stom
ers
IIn
stal
men
ts to
con
trac
tors
Gro
ss c
ash
pay
-
GN
i exp
d.. a
/c A
, B &
CK
Non
t'tha
l pro
duct
expd
. a/c
A, B
& C
Sour
ce R
p fe
renc
e
36,6
48 708
7,81
62.
563
42,6
09 318
1,1.
541,
906
6,l6
100
52,5
531,
466
IP
rodu
ct r
ecei
nta
min
usno
nfin
alproduct
expd
.(T
o T
hl. 3
3k,
liii.
Z)
Net
Tra
nsfe
r Pa
ymen
tsT
rans
fer
rece
ipts
iPu
blic
. .ar
-oos
e pa
ymen
tsIn
s.. b
anef
lts0
Tot
al tr
ansf
er r
ecei
pts
Tra
ns f
e r
paym
ents
:•
Publ
ic p
irjx
'se
paym
ents
Ins.
pre
m11
.sR
Tot
al tr
ansf
erpa
ymen
ts
SNet tranfnr receipts (To Tbl.
33k,
line
a).
r B
Item
GN
P E
xmen
djtu
res
Gro
se e
xpd.
a/c
s-
AG
ross
cash
pay
-B
Gro
ssrents
CSp
ent a
s a
cust
omer
+ n
et p
aym
ents
for
rea
l est
ate
tran
sfer
sD
Inst
alm
ents
to c
ontr
acto
rs•
ET
otal
abo
ve e
xpd.
Ded
uctio
n of
non
fina
l pro
duct
exp
d,O
per.
exp
. of
Fed,
qua
si-b
us. e
nter
aris
es:
FPo
st O
ffic
e pa
yrol
l, C
. Y.
Oco
at o
f m
ail t
rans
port
atio
n +
sup
plie
s an
d se
rvic
esH
Eat
., pa
yrol
l & a
dm. p
rocu
rem
ent,
govt
. cor
p. &
cre
dit a
genc
ies
IT
otal
ded
uctio
ns a
/c o
per.
exp
. of
Fed,
qua
si—
bus.
ent
erpr
ises
Net
axp
d. a
/C s
ubsf
dy n
urch
ase
prog
ram
:J
Purc
hase
s, C
CC
& W
ar C
orp.
NM
inus
sal
es, C
CC
& W
ar C
orp.
LM
inus
nat
chan
ge in
inve
ntor
ies,
War
Cor
p.M
Net
exp
d. a
/c s
ubsi
dy p
urch
ase
prog
ram
NN
et p
aym
ents
for
rea
l est
ate
tran
sfer
sO
Eat
. ove
rsea
s pr
ocur
emen
t
PT
otal
ded
uctio
n of
non
fina
l pro
duct
exp
d.Q
Tot
alGNP
expd
. Fed
. Gov
t. / (
To
Thi
. 33
A, l
ine
d)•
Oth
er P
rodu
ct T
rans
actio
Product receipts:
Cash tat.
Gro
ssrents
Receipts from customers
Tas
, etc
. col
lect
ed (
excl
. 'H
H)
-
Tot
alpr
oduc
t rec
eipt
sNonfinal
prod
uctexpd.:
Tot
al c
ash
tnt.
pd. t
o pu
blic
-T
rans
fer
paym
ents
a/c
WM
ont i
nal p
rodu
ct e
x. a
/cN
Tot
al ta
x re
fund
sT
rans
fer
paym
ents
a/c
Z (
refu
nds
to H
E)
Non
fina
l pro
duct
exp
d. a
/c N
Tot
al n
onfi
nsi p
rodu
ctexpd.
Product recelots
min
us n
onfi
nal p
rodu
ct e
xd, (
To
Tbl
.33 A, line g)
footnotes
see
GN
P 11
2.
Sour
ce R
efer
ence
App
'. B
, Wor
kshe
et A
-2—
A +
BA
pp. B
, Wor
kshe
et A
—2—
EA
pp.B, Worksheets (E—4—q)
+ (
A—
4—0)
App
. 'B
,Worksheet E-.6-.X
Athru D
603
Postna.er Gieral, Ann, Renort
1940
,p.
97(2
yr. mov.
avg.
)19
3App'.
B,W
orks
heet
A—3—N
164
App
.. B
,!dork&ieet A—4—X
960
F+G
+H
8A
pp. B
,increment in Worksheet E—4—B +
F
24A
pp. B
, Inc
ram
ent i
n W
orks
heet
E—
2—h
+g
0Se
e ro
otno
te 1
/—
163
min
us (
K+
L)
OSR
2O2Q
OE
st, b
ased
on
U, S
. Gov
t. C
es'h
Tra
nsac
tions
Abr
oad,
F. Y
. 194
1—45
, U. S
. Dep
t. of
Cco
sn.
944
l+M
+N
+O
5,14
1E
min
us P
413
App
. B, W
erks
hots
(C
—1—
}t)
+ (
E—
2—R
)3l
App
.B
,Worksheet
E—
2—Z
1,15
7A
pp. B
,-'!n
rksh
eets
(A
—i—
c+ d)'+
(E—
2—i)
+ (
E—
3—E
+ N
)3,
728
(IC
lU A
) m
inus
(G
B?
112
3)5,
332
Rthrutr
1,04
7.N
H 1
13 Q
634
GN
P112
Nx
1.13
,
76WminusX
App,
B, W
orks
heet
A—
2—F
'F Z
•24
GN
P112
O-
a'5
2Z
min
us a
b1,
409
3,92
3P+
Y+
bV
min
us d
..
6 e.
4,
GB
? E
xpen
ditu
res
and
Oth
er O
rdin
ary
Tra
nsac
tions
The
Fed
eral
Gov
ernm
ent
(mill
ions
of
dolla
rs)
GN
PU1
-
3,94
8 311,
782
.324
6,08
5
'N S F U V V I Y N a b d a For
A B C D F C H I J K L N N 0 p Q R S T U V
GN
P Fp
eric
iitur
esan
d O
ther
Ord
inar
y T
rans
actio
nsG
(P 1
12T
he F
eder
al G
over
nnen
t (C
ontin
ued)
(mill
ions
of
dolla
rs e
xcep
t for
fig
ure
in p
aren
thes
es)
Sour
ce R
efer
er.c
cN
etTrapafer
Paym
ents
Trt
hfer
receiptsz
AIn
s. p
i'eni
nms
159
App.
B, W
orks
heet
,s(C—i—?)
+ (
D—
i—3)
+(F—3—V)
A
Tax
es, e
tc. c
olle
cted
fro
m. R
H b
y Fe
d. G
ovt.:
BT
otal
Fed
, pay
roll
taxe
s co
llect
edit
iii A
P
CTotal accrued
empl
oyer
& e
np1o
ee c
ontr
ibut
ions
836
Surv
ey o
f C
urre
nt B
usln
esr,
Jy.
194
7 Su
ppi.,
C
for
Fed,
soci
al m
B. 1
/T
his.
34 &
35
DAccrued
empl
oyee
con
trib
utio
ns f
or F
ed, s
ocia
l ins
.34
9Id
esi,
Thi
. 35
0H
Rat
io, a
ccru
ed e
mpl
oyee
to to
tal c
ontr
ibut
ions
(%
)(
4.1.7)
D—
CE
PT
otal
pay
roll
taxe
s co
llect
ed f
rom
RH
by
Fed.
Gov
t.32
6B
x K
F
0Total fees, fines, penalties,
etc.
collected
by F
ed. G
ovt.
29A
pp.B, Worksheet
k-1—
HS
-H
Eat.
fees
,fines, penalties collected from
RH
by
Fed.
Gov
t.10
1st.
as C
x (
33.3
%)
H
ICustoms
dutie
s +
indi
vidu
al in
com
e ta
xes
1,24
2H
H 2
02 A
+ D
3T
otal
taxe
s, e
tc. c
olle
cted
fro
m R
H b
y Fe
d. G
ovt.
1,57
87
+ H
+I
3
KPu
blic
pu.
poeó
pay
men
ts83
0A
pp. B
, Wor
kshe
ets
(B—
i—F)
+ (
1—3-
!)K
LT
otal
. tra
nsfe
r re
ceip
ts2,
567
A +
J + K
L
Tra
nsfe
r Pa
ymen
ts:
-
NIn
s, b
enef
its72
3A
pp.B, Worksheets
(B-1
—J)
+ (
C—
i-!)
+N
+H
+F) +
(1-5
—0)
NN
et c
ash
let.
pci.
to p
ublic
634
RH
113
Qminu.e C
N
0T
axre
tund
e to
HR
24H
R 1
01 V
0
PPu
blic
pur
pose
pay
men
ts2,
300
App
. B, W
orks
heet
s (A
—2—
K +
L +
P+ W + Y) +
P
(1-4-b)
+(1-5—P
+ U
)Q
Tot
altr
ansf
er p
aym
ents
3,68
114
thru
PQ
.1N
ettr
ansf
er p
aym
ents
(T
o m
l. 33
A, l
ine
e)1,
114
Qm
inus
L-
H
BT
otal
ordi
nary
rec
eipt
s7,
899
(GN
P U
.]. V
)+
(GN
P 11
2 L
) cf
. Tbl
. 19
C.
S
T T
otal
ord
Inss
- ex
pd.
10,2
31(G
B?
111
Q+
ci)
+(G
NP
112
Q)
ef.
Thl
. 19
yI
2/C
hang
es I
n go
vsrm
eent
qua
ai-b
uain
aeu
Inve
ntor
ies
wer
e as
sum
ed n
eglig
ible
pri
or to
194
0.D
urin
g l9
40.1
942
only
inve
ntor
ies
ofiar
corp
orat
ions
vase
oon
side
red
alge
ific
ant.
Cha
nges
in s
uch
inve
ntor
ies
wer
e es
timat
ed o
nthe
basi
s of
data from the
file
s of
the
Dep
artm
ent o
fCorenerce.
2/T
his
estim
ate
otGNP öxpenditures
diff
ere
from that
mre
aent
ed in
Tec
hnic
al P
aper
No.
5(r
efer
red
to là
Sec
tion
2 above), because
an a
ttem
ptha
s he
re b
een
med
e to
con
form
to th
erevised
Dep
artm
ent o
fCbmnerce
conc
ept o
fgross
natio
nal p
rodu
ct.
The
priricipel
diff
eren
ces
betw
een
ON
? 11
1 Q
abov
ean
d T
ebl.
5 in
Tee
bdoa
l Pap
er lb
. 5 a
re th
eexclusion of
inte
rest
ori
gina
ting
In g
over
nmen
t and
gov
ernm
ent s
ubsi
dies
.-
1/T
his
item
incl
udes
em
ploy
er, c
ontr
ibut
ions
for
Federal unemployment
tax,
rai
lroa
d un
empl
oym
ent I
nsur
ance
, rai
lroa
d re
tirem
ent i
nsur
ance
,an
d ol
d ag
e an
d su
rviv
or in
sure
nce
plus
em
ploy
ee c
ontr
ibut
ions
to th
e la
st t
of th
ese
cate
gori
es.
GN
? E
xpen
ditu
res
and
Oth
er O
rdin
ary
Tra
nsac
tions
Stat
e an
d L
ocal
Gov
ernm
ents
(mill
ions
ofdollars)
GN
P 11
4.
ON
? E
xlle
nditu
yeS
Gro
ss e
xpd.
a/c
lA
Gross
cash
pay
BSp
ent b
y St
. & L
. Gov
t •as
cust
omer
sC
Gro
ss r
ents
DIn
ata)
nsnt
s to
con
trac
tors
•T
otal
of
abov
e ex
pd.
Ded
uctio
n of
non
fina
l pro
duct
exp
d,F
Wag
es &
sal
arie
s, p
ublic
ser
vice
ent
erpr
ises
.G
Spen
t by
publ
ic s
ervi
ce e
nter
pris
es, a
scustomers
HT
otal
ded
uctio
n of
non
fina
l pro
duct
exp
d.I
Tot
al G
M?
expd
., St
.&
L. G
ovt.
(To
ml.
33 B
,' lin
e A
)
Oth
er P
rodu
ct T
rans
actio
nsPr
oduc
t rec
eipt
s:'.
Cas
h m
t.G
ross
ren
tsR
ecei
pts
from
cus
tom
ers-
Tax
es,etc. collected
(exc
i.all
taxe
s pd
. by
1'ex
cept
real property)
NTotal product receipts
Nonfinal
prod
uct e
xpd.
:0
Tot
al c
ash
int.,
pd.
PT
rans
fer
paym
ents
a/c
0
QN
onfi
nal p
rodu
ct e
xpd.
a/c
0
R'
onf1
nal
prod
uct e
xpd.
list
ed a
bove
STotal
nonf
inal
pro
duct
expd.
Sour
ce R
efer
ence
10 2
01 A
(to
201
0) +
(to 203
R)
tO 2
01 K
tO 2
04 R
Ath
ruV
552
1020
1D416
ON
? 11
53
136
Om
inua
PH Q
+ H
4,16
82,
781
1,52
58,
488
A B.
C D g 1' 0 H I
202
Surv
ey o
fCurrent
Bus
ines
s,.J
y. 1947
Supp
l., f
bi. 1
425
9(t
o. 2
01 G
) +
(10
203
II)
461
F+G
8,02
?E
min
us H
136
1010
1K3
46
IO1O
1LK
1,351
1010
2D+
N.
'I.
7,62
6(t
O 1
02 0
) m
inus
(G
M?
US
F).
.N
9,21
9Jt
hr.M
-N
597
TProduct receipts minus nonfinal product expd.
8,622
Nrn
.inu.
è S
T(T
oTbl. 33
8,line E)
0 P Q R S
Gm
'. E
xpen
ditu
re. e
ndO
ther
Ord
inar
yT
rans
actio
nsst
ate
and
Loc
al G
over
tent
s (C
ontin
u.d)
(nilh
iona
of
dolla
rs)
GN
P' 1
35
Net
Tra
nsfe
rPa
sent
eT
rans
fer
rece
ipts
:a
Ins.
pre
mim
na17
7
lonp
eope
rty
taxa
s, e
tc. o
oile
oted
fro
m im
by:
BFe
d. +
St.
& L
. Gov
t.C
Fed.
Gov
t.D
St. &
L. G
ovt.
(md.
pro
pert
y ta
x..)
BR
eal p
rope
rty
taxe
s co
llect
ed f
rom
HH
by
St. &
L. G
ovt.
VA
ll ta
xes
colle
cted
fro
m F
iN b
y St
. & 1
$. G
ovt.
exce
pt r
eal p
rope
rty
CPu
blic
.upe
ee p
aym
ent..
2,36
8
Tot
al tr
ansf
er r
ecei
pt.
.3,
283
fran
efer
pay
men
t.,I'
Ins,
bene
fit.
JN
et c
ash
mt.
pd.
APu
blic
p2r
po.e
pay
men
t.
225
/46
32]
.3
LT
otal
tran
sfer
ps.
yRen
ts3,
854
NN
ettr
en.f
er p
eyls
inte
(T
o T
ol. 3
3 B
lins
C)
571.
NT
otal
ord
inar
y re
ceip
t.12
,502
0 1b
tal o
rdin
ary
.pd.
32,4
78
ffl(
202
1G
NP1
I2J
B m
inus
CR
H 2
02'?
min
us10
13.
31
Dm
inus
A
IGlO
4D+
M+
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inus
(L
L 1
01 1
)10
205
F +
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H
I JO A L
Lni
nuaE
(om
' 114
0)
+ (
Gm
' 115
8)
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04?
(GoP
114
1+5)
+ (
aN?
115
I.)
1020
51
Sour
ce R
efer
ence
10 1
03 1
3,15
71,
578
1,57
984
173
8
a 'B C 'V I F 11 N 0
B C D 11 F G
Oth
erProduct
Tra
nsac
tions
Product receipts:
HCash
dlv.
IC
ash
tnt.
3G
ross
ren
tsK
Rec
eipt
s fr
omcuatomere
LT
otal
pro
duct
reáeipta
GN
P E
xpen
ditu
res
and
Oth
er O
rdin
ary
Tra
nsac
tions
Ban
ks a
nd U
. S. )
bnet
ary
Fund
s(m
illio
ns o
f do
llars
)
49
17,6
447,
093
10,5
51 1:14
161
324
23
1,706
96
368
2,193
577-
445
236 47 151
-
1,6'
79
514
BK 101 A
BK 101 T
BK 101 U
BK 102
3H
thru
K
BK
202
VB
K20]. C
BK 20]. R
BK 20111
BK 201 S
BK 203 0
11
thru
aLminus S
GN
P 11
7
A B C D 11 F 0 a .1 3-.
K L 11 N 0 P Q a T
GN
P E
xoen
ditu
res
AInstalments to contractors a/C
new
nonres. constr.
Additions
togold stock from domestic gold production:
Asset of Bka. & U. S. Ibn. Funds a/c gold stock in
the
U. S.
Liability of R of Wa/cu. S. gold imports
Discrepancy (balance recbl., gold acot.)
Mditions
to g
old
stoc
k fr
om d
omes
tic g
old
prod
uctio
nM
intperohases of silver
-
Tot
alON? expd. (To
Tb]
.. 33
B, line H)
i98
14,512
4,075
10,437
Source Reference
BK 203 B
BK3O1&
-
RW
302D
B minus C
Thcreint in D
Treasury Bull. Jan.
1940
,p.
46
A+
11+
?
Non
.fin
al p
rodu
ct e
xpd.
:-
MSpent
by B
ks.& U. S. )n. Panda as customers
NGross
cash
pay
.0
Cash-tnt,
PCash. div.
QG
ross
ren
tsR
Tax
es c
olle
cted
-
STotal
nonf
inal
pro
duct
exp
d.-
TPr
oduc
t rec
eipt
s m
inua
non
i'ina
l pro
duct
epd
,(To
Thl
.33 B,
line
11)
GN
P pe
nditu
rea
and
Oth
er O
rdin
ary
Tra
nsac
tions
Ban
ks a
nd U
. S. )
neta
ry F
unds
(C
ontin
ued)
(mill
ions
of
dolla
rs)
GN
P '1
18
Net
Tra
nsfe
r Pa
ymen
ts£
Ins,
ben
efits
rec
d (t
otal
tran
sfer
rec
eipt
s)B
Ins.
pre
miu
ms
pd.
CPu
blic
pur
pose
pae
nte
(exp
d.)
DT
otal
tran
sfer
pay
men
ts
NN
et tr
ansf
er p
aym
ents
(T
o T
hl. 3
3 B
, lin
e K
)
Net
)bn
ey A
dvan
ced
or R
etur
ned
to O
ther
s. A
djus
ted
FN
et n
ey a
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ced
or r
etur
ned
to o
ther
s(m
ci. n
et n
ew g
old
'from
dom
estic
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rces
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int p
urch
ases
of
silv
er)
CN
et n
uney
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ance
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ret
urne
d to
oth
ers
excl
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new
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d fr
om d
omes
tic s
ourc
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Min
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rcha
ses
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ilver
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o T
hi. 3
3 B
line
3)
HT
otal
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inar
y re
ceip
tsI
Tot
al o
rdin
ary
exrx
.
Sour
ce R
efer
ence
368
(Inc
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ent i
n B
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inus
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in-
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) m
inus
(B
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03 N
)
93(r
p 11
8 F)
min
us (
ON
P ]1
7E +
F)
(Gm
' 117
L)
+ (
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? 11
8 A
) =
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N?
117
0 +
s) +
(GN
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8 D
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inus
(GN
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N +
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BK
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U
27B
1102
187
BK
2038
23K
203T
89B
+C
62D
mln
uaA
2,22
01,
817
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C D
-3
a H I
ON? Fxpenditures
AIn
ata]
men
tsto
cont
ract
ors
a/c
new
con
res.
con
sty.
BT
otal
GN
P ax
xi. (
To
Tbl
. 33
B, line
Q)
Other
Prod
uct T
rans
actio
nsPr
oduc
t rec
eipt
s:C
Cas
h m
t.D
Cas
h dl
v.K
Gro
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ents
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et p
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for
rea
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tran
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sH
NH
GN
Pexpd.
a/c
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pre
mio
ma
IT
otal
pro
duct
rec
eipt
sN
onfi
nal p
rodu
ctexpd.
$
JC
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dir.
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lder
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ross
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roas
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rier
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lect
ed0
Tot
al n
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nai p
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ct e
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i pro
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o T
bl.
33 B,
line
T)
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Transfer receipts:
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P ex
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pre
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Tot
altransfer receipts
IT
otal
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YT
otal
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in:tr
y ex
pd.
GNP Expenditaires
and
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Tra
nsac
tions
Priv
ate
Insu
ranc
e C
arri
ers
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ions
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rs)
22S
ourc
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24(LI2O2J)+(oI2o3B)
24
A I + S
(LI 102 K) +
(or
102
V.)
B+ 0 +
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I 20
2R) + (01 203 R)
GB
? 11
9
£ B C a B F, a I 3 K L N N 0 P Q R S -T.
U V N I I
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I 10
1 D
) +
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102
L96
(LI
101
B)
+ (
01 1
01 B
214
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131
K)
+ (
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.02
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1020
—17
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CPU
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ru H
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K)
+ (
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1,192
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237
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2,298
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818-
Iain
us0
Q R S T U V w
Transfer payments:
Ins, benefits pd,
Div.
with
drau
fl b
y po
licyh
olde
rsT
otal
transfer oaymeta
Net transfer receipts (To Thl. 33 B, line U)
6,25
41,
605
4,649
3,31.7
187
3,531.
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÷J)
+ (
0110
20)
II Q m
inus
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(LI 202 N +
'Q)+
(.01
203 Q)
(LI 201 Q)
+ (
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1,115
Sm
inus
V
7,76
55,
856
GN
P pe
nditu
res
and
Oth
er O
rdin
air
Tra
nsac
tions
Secu
rity
and
Rea
lty F
iiins
et a
l(m
illio
nsof
dolla
rs)
GN
P. 1
21
Oth
er P
rodu
ct T
rans
actio
nsPr
oduc
t rec
eipt
s:C
ash
mt.
Cas
h dl
v,G
ross
ren
tsR
ecei
pts
from
cus
tom
ers
Tot
al p
rodu
ct r
ecei
pts
Non
fina
l pro
duct
exp
d.Sp
ent b
y Se
c. &
R. F
irm
s et
a].
as
cust
omer
sIn
stal
men
ts to
con
trac
tors
Gro
as c
ash
pay
Non
fina
l pro
duct
exp
d. a
/c 3
, K &
LN
Cas
h in
t.0°
Cas
h dl
v.P
Gro
ss r
ents
QT
axes
col
lect
edR
Net
ow
ner
take
outs
SN
et p
aym
ents
for
rea
l est
ate
tran
sfer
sI'
Tot
al n
onfi
nal p
rodu
ct e
xpd.
Net
Tra
nsfe
r Pa
ymen
tV
Ins,
ben
efits
rec
d. (
tota
l tra
nsfe
r re
ceip
ts)
WIn
s. p
reci
ts p
d.X
Publ
ic p
urpo
s pa
ymen
ts (
expd
.)T
otal
tran
sfer
pay
men
tsZ
Net
tran
sfer
pay
men
ts (
To
Tbl
. 33
B, l
ine
Y)
aT
otal
ord
inar
y re
ceip
tsb
Tot
al o
rdin
nr.'
expd
.
1,27
61,
254
230
1,34
4
474
7,21
72,
910
138
380 4
384
246
10,2
6510,234
SR 2
11 Q
SR 2
12 D
SR 2
2114
A+
5+
C
SR 2
02 P
SR 2
01 U
SR 2
02 L
SR 2
03 K
SR 2
04 Q
SR 2
02 W
N th
ru S
I m
inus
T
SR 1
03 B
SR 2
03 0
.SR
204
Sw
+I
Y m
inus
VSour
ce R
efer
enc
I +
VSR
103
CD
+ T
+ 7
=S
R20
4 T
14 F 0 H I 3 K L 14 N 0 P Q a P U V w x 7 z
GN
P 1c
nénd
itere
pA
Eat
. exp
d. a
/c n
ew r
oe. c
onst
r. f
or te
nant
occ
upan
cyB
Inst
alm
ents
to c
ontr
acto
rs a
/c n
ew n
onre
s. c
onst
r.C
land
lord
pir
chaa
es o
f co
nsus
r go
ods
& a
ervi
cee
PT
otal
GN
P. e
xpd.
(T
o T
hi. 3
3 B
, lin
e X
)
14 F G H I 3 K L M
1,22
1 981,
314
2,63
3
863
1,O
6,89
01,
292
10,1
27
2,40
01,
113
1,06
81,
948
A B C P
SR 1
01SR
101
SR 1
01SR
102
14 th
ru
SR 2
02SR
202
SR 2
01(3
+K
K C N 0+ K
÷ S
+ 1
1H 14 x H +
L)m
inus
P
UPr
oduc
t rec
eipt
s m
inus
non
fina
l pro
duct
exp
d. (
To
Tbl
. 33
B, l
ine
a)
a bI-
., '0
GH
P E
,end
iture
s an
d O
ther
Ord
inar
y T
rans
actio
ns.
GN
P22
3T
he R
est o
f th
e W
orld
(mlf
lions
of
dolla
rs)
Bou
rce
Ref
eren
ce-
GN
PE
xoen
ditu
roA
Net
mt.
pd.
127
(By
201
0) m
inus
(RW
101
F)A
BN
et d
iv. p
1.23
3(R
W 2
01 C
) m
inus
(R
U 1
01 C
).
BC
Net
spe
nt. b
y R
of
U a
s cu
stom
ers
623
(RU
201
V)
min
us(R
U10
1 U
)-.
CD
Tot
alG
NPe
xpd.
(ToT
bl.3
3B,li
nee)
883
A+
B+
CD
Oth
er P
rodu
ct T
rans
actio
ns!
Net
pay
men
ts f
or r
eal e
stat
e tr
ansf
ers,
etc
.9
RU
202
C(T
otal
non
fina
l pro
duct
exp
d.)
FT
otal
pro
duct
rec
eipt
sm
inus
nonf
lxia
l pro
duct
exp
d.—
9M
inus
EF
(To
Tbl
. 33
B, l
ine
g)-
Net
Tra
nsfe
r R
ecei
nts
GPu
blic
pur
pose
pay
men
ts (
read
.)18
7R
U 1
02 D
Gif
Publ
ic p
urpo
se p
aym
ents
(ex
pd.)
RU
202
DI
Net
tran
sfer
rec
eipt
s (T
o T
hi. 3
3 B
, lin
e h)
151
0 m
inus
HI
0' 0
22
16,8
661
150
B16
,716
C60
5D
17,3
21H
12,6
11O
thru
M5,
835
Ban
king
&o
1,09
4Ib
id.
B40
3Ib
id.
j81
7Ib
id.
K79
4Ib
id.
L3,
668
Ban
king
&N
4,70
9Ib
id.
608
mid
.V0
2,95
6Ib
id. /
p1,
145
Ibid
.a/
Q
22,1
69R
26s
22,1
43T
Vtb
ru,a
UT
x(G
4K)
VT
x(H
+E
)T
x(34
E)
xT
x(K
.E)
yT
x(L
—E
)z
Tx(
ME
)a
Fed.
Rea
. Bul
l.b
amin
usb
c d a f
Ban
k C
redi
t cla
ssif
ied
by O
bli,g
or(m
illio
ns o
f do
llars
)
Ban
k L
oans
Ins.
bks
.:A
Tot
al lo
ans,
jn. C
omm
. bks
.B
Loa
ns to
bIn
s. &
can
acc
epta
nces
CT
otal
loan
s to
the
publ
ic, i
ns. c
orm
i. bk
s.D
Tot
al lo
ans,
ins,
nut
. ags
. bks
.H
Tot
al lo
ans
to th
e pu
blic
, ins
. bks
.F
Tot
al n
on r
eal e
stat
e lo
ans
0C
omm
. & m
d. lo
ans
HA
gr.]
.osn
sJ
Ope
n m
arke
t pap
erK
Loa
ns f
or p
urch
ase
or c
arry
ing
of s
ee, t
o br
oker
s, e
tc.
LL
oans
for
pur
chas
e or
car
ryin
g of
see
, to
othe
rsN
Oth
er lo
ans
-
NT
otal
rea
l est
ate
loan
s0
On
farm
land
PO
n re
a. p
rope
rty
QO
n ot
her
prop
ertie
sA
ll bk
e.*
HT
otal
loan
sS
Bk.
bor
row
ings
TT
otal
loan
s to
pub
lic, a
ll bk
s.
Sour
ce R
efer
ence
Ban
king
&ib
neta
ry S
tat.,
Tbl
. 1,0
Ibid
.A
min
us B
Ban
king
& I
.bne
tary
Sta
t., T
bl, 4
6C
+D
nF+
N
BL
101
1940
, Tbl
. 55
)4ne
tary
Sta
t., T
hl. 4
0
)net
ary
Stat
., T
bls.
60
& 4
6
Ban
king
& )
bnet
ary
Stat
., T
bl, 2
Com
ptr.
of
Cur
renc
y, A
nn. R
epor
tR
min
us S
UT
otal
non
rea
l est
ate
loan
s16
,123
VC
omm
. & m
d. lo
ans
7,46
0N
Agr
. loa
ns1,
399
KO
pen
mar
ket p
aper
515
I-
Loan
sfo
r pu
rcha
se o
r ca
rryi
ng o
f se
c. to
bro
kers
, etc
.1,
044
HL
oans
for
pur
chas
e or
car
ryin
g of
see
, to
othe
rs1,
015
aO
ther
loan
s4,
690
bC
onsu
mer
loan
s (s
ingl
e pa
ymen
t & in
stal
men
t) o
f co
mm
. bka
.1,
991
oM
ien,
loan
s2,
699,
dR
eal e
stat
e lo
ans
6,01
9•
Onf
arin
land
777
fO
n re
s. p
rope
rty
3,77
8O
n ot
her
prop
ertie
s,
1,46
4__
____
____
____
____
____
____
____
___
i/me
entr
y on
line
J in
clud
es b
ills
paya
ble
abro
ad, c
mm
nero
ial p
aper
bou
ght,
and
acce
ptan
ces
of o
ther
ban
ks.
fon]
y th
e to
tal o
f re
al e
stat
e lo
ans
Ia a
vaila
ble
for
insu
red
mut
ual s
avin
gs b
anks
,T
his
tota
l was
pro
rate
d on
fig
ures
for
loan
s on
tars
, laM
,, on
res
iden
tial p
rope
rty,
and
on
othe
r pr
oper
ties
for
insu
red
coim
nerc
ial b
anks
at t
he a
nd o
f ea
ch y
ear.
Hay
194
6, p
. 536
T x
(0
4H
)V
* (
P 4
H)
T x
(Q
4 B
)
Ban
k C
redi
t Cla
ssif
ied
by O
blig
erB
L 1
C(m
iflio
na o
f do
llars
)
Sour
ce R
efer
ence
A•
Ins.
o. b
ka.,
tota
l mv.
(en
nl. F
ed. G
ovt.
oblig
atio
ns)
6,45
2Fe
d. D
epos
it In
s. C
oxp.
,A
nn. R
epor
t 191
.0,
A
•
..
Tb]
.. 11
9
fi C p
Stoc
k of
aff
iliat
ee &
oth
er b
ke.
Fed.
Res
. Bk.
eto
akO
blig
atio
ns o
f st
ates
, mun
icip
aliti
es, e
tc.
.
142
136
3,28
5•
Ibid
.-
Ibid
.Fe
d. D
epos
it. I
ns. C
orp.
,T
bl.1
19in
n. R
epor
t
•
1940
,
B C D
••F
Ins,
com
u. b
k. in
v, (
exci
. bk.
sto
ck, F
ed. &
St.
& L
. Gov
t. ob
ligat
ions
)B
k, u
tility
, ind
. & o
ther
bon
ds, &
sto
ck o
f do
mes
tic c
orp.
.
2,88
92,
670
.
A m
inus
(B
+ C
+ B
)Fe
d. D
epos
it In
s. C
orp.
,T
bl.1
19in
n. R
epor
t19
40,
N F
•0 N j L
Fore
Ign
bond
s &
atoo
ka, e
tc.
Al]
. bka
., to
tal m
v. (
axe]
.. Fe
d. G
ovt.
oblig
atio
ns d
irec
t & f
ully
gua
rant
eed)
Fed.
Rae
. Eke
, pd.
-In
capi
tal
Fed,
Gov
t. ob
ligat
ions
not
ful
ly g
uara
ntee
dSt
. & L
. Gov
t. ob
ligat
ions
.
9,31
413
645
03,
991
Ban
kIng
& )
nete
.ry
Stat
.,Id
em, T
hl. 2
0B
K 3
01 L
Com
ptr.
of
Cur
renc
y in
n.T
h1.5
5
Tb]
., 2
Rep
ort 1
940,
G.
H j L
NA
].].
bk.
mv.
(ex
el. b
k. s
tock
& F
ed. &
St.
& L
, Gov
t. ob
ligat
ions
)4,
737
Rm
imxa
(+
1+
L)
•N
pSe
c. o
f m
d. C
orp.
& B
us. P
i. &
Pt.
et a
].Se
c. o
f R
of
UV
0x
(Fa)
N x
(0
÷a)
.
N i'
Q RFe
d. R
as. E
ke. i
nv. (
cxci
. Fed
. Gov
t. ob
ligat
ions
), d
isco
unts
& a
dvan
ces
Fed.
Gov
t. ob
ligat
ions
hel
d by
Bks
. &U
, S. )
n. F
mde
,/ (
To
Tb]
.. 41
C)
18.2
3,54
0B
ankI
ng &
)nn
etar
y St
at.,
BK
301
0T
b]..
85Q a
sT
otal
loan
s &
mv
Bka
, & ii
.S.
Mon
. Fun
ds (
To
Tb]
.. 41
i)54
,429
(EL
101
T)
+ (
BL
lC L
+K
+ Q
+ a
)S
2/In
clud
es d
irec
t Fed
eral
Gov
ernm
ent d
ebt p
lus
fully
- gu
aran
teed
and
not
ful
ly g
uara
ntee
d ob
ligat
ions
.
a B C. D B F a J K L N N P Q R S T 11 V
22 3,00
6
12,2
O22
,359
49.8
)3,
778
1,88
14,88?
7,46
06,714
515
1,4.
645,
695
1,73
7(,
0.5)
447
425
1,01
?3,958
3,16
6C
80.0
)
2,69
91,
800
10,2
684,
395
2W°
Ref
eren
ce
EL
101 B *
b
UN
302
NH
R 3
02 N
min
us N
B .
(B+
C)
EL 101 t
DxB
Eat.
as k
+F
BL101 V
Bet.
ae J
x (
90%
)B
L1O
1KE
L101 g
Survey
of C
urre
ntm
id.
P.E
XxQ
Eat
. as
R x
' (95%)
Nm
inus
RPP
301
8P
P301.
V
Eat
, as
T x
W
BL
101
çE
at. a
s 2/
3 of
Z
I+
L+
I.+a
BL
102
N +
Q
a B C D B F 0 J K L N N P Q R $ V 11 V N I I z a b C
Ban
k C
redi
t Cla
asif
ied
by O
blig
or(m
illio
ns o
f do
llars
exce
ptfo
r fi
gure
sin
par
enth
eses
)
TIN
Deb
t&
U. 8
.Nn.
Fun
dsco
nsum
er lo
ans
+lo
ans
for
purc
hase
of
see.
to in
divi
da15
& o
ther
sR
eal e
stat
e lo
ans,
Eat
. rea
. mtg
s. o
wed
to a
ll la
nder
s on
ow
ner
Occ
upie
d ho
mes
t..
mtg
e.ow
ed to
all
lend
ers
on te
nant
occ
upie
d ho
ses
Rat
io,,
rae.
mtgs.
on o
wne
r oc
cupi
ed h
omes
to to
tal r
ae.
mtg
s.(%
)A
llbk
'. re
al e
stat
e lo
ans
on r
ae, p
rope
rty
Rea
l est
ate
loan
s ow
ed b
y H
R to
bks
.T
otal
101
deb
t to
Bka
. & 1
1.8.
)n.
Fn
j,2 B
)
Deb
tof
Bad. Corn. &Bus.
Pr. &
Pt. e
tslB
el4b
yBan
ksC
onin
. &m
d.lo
ans,
all
bka.
Eat
. .&
mad
, loa
ns to
Bud.
Cor
p. &
Bus
. Pr,
& P
t. et
.1O
pen
mar
ket p
aper
hel
d by
all
bica
.R
eal e
stat
e lo
ans
onother than fans
land
& r
ae. p
rope
rty,
an
bks,
Com
a. m
tge.
ow
ed b
y al
l bor
row
ers
to a
ll 1e
ndez
Com
a. a
tgs.
ow
ed b
y co
rp. b
orro
wer
s to
all
lend
ers
Rat
io, C
orp.
coa
ni. s
tgs.
to a
1.1
o. m
tgs.
ow
ed (
%)
Rea
les
tate
loan
s by
all
bks.
to c
orp.
bus
.E
at,
real estate
loan
s by
all
bka.
tolad.
Cor
p.R
eal e
stat
e lo
ans
by a
ll bk
a. to
non
corp
. bus
.C
oma.
mtg
s. o
wed
by
all c
onco
rp. b
us. t
o al
l len
ders
Com
a. m
tgs.
ow
ed b
y B
us. P
r. &
Pt.
et .1
to a
lers
Ratio,
com
a. m
tge.
ow
ed b
y B
us. P
r. &
Pt.
atal to
all
nano
orp.
mst
gs. o
wed
(%
)R
eal
esta
te lo
ans
by a
ll bk
e. to
Bus
. Pr.
& P
t. at
al
VT
otal
rea
l est
ate
loan
s by
all
bks.
to la
d. C
orp.
&B
ua.P
r.&
Pt.e
tal
ZMisc,
loan
s, a
ll bk
s.$
Eat
,misc,
loan
s by
all
bks.
to B
ud. C
orp.
& B
ue. P
r. &
Pt.
et a
lb
Tot
al lo
ans
by a
ll bk
a. to
lad.
Cor
p. &
Bus
. Pr.
& P
t. et
al
oSec.
& o
ther
loan
s of
Irid.
Cor
p. &
Bus
. Pr.
& P
t. et
al h
eld
by
Eke.
& 0
. 8.bn.
dTotal debt of Bud. Corp. & 5us. Pr. & Pt. et ..1 held by Bks. &
U. S. Mon.
Fund
s
EL 103
Bus
ines
sSept. 1946, p. 17
0
1,23
9S+
L
14,6
63b+
o
Ban
k C
redi
t C].
asai
fied
by
Obl
igor
BL
101
(mill
ions
of
dolla
rs)
L K N P Q R S
7,1.
606,
714
746
1,04
43,
778
1,88
11,
89?
1,46
41,
239
225
2,69
91,
800
546
353
4,26
5
Sogr
oe R
efer
ence
BL
101
UB
L 1
01 e
A+
B
BL
102
L
Ban
king
&Fb
i. 16
1B
L 1
02 P
E+
F
BL
101
VB
L 1
03 K
Hm
inus
JB
L 1
01 Y
BL
101
-fB
L 1
03 F
M m
inus
NB
!. l0
lgB
L 1
03!
Q m
inus
K
B!. 101 a
B!.
103
aN V
min
us (
U +
V)
K+
L+
P+
S+
W
B J K L K N P Q K S F U V V x.
i/obl
igat
ions
or
priv
ate
insu
ranc
e ca
rrie
rs a
re a
ssum
ed n
eglig
ible
.
J
1,39
977
7-2,
176
3,991
546
360
9%
Farm
Deb
t to
Bks
. & U
. S. )
bn. F
unds
AAgr. loans by all bks.
BReal estate loans by all
bks.
on
fern
lend
CTotal fans
debt
to Rica. & U. S. Ban. Funds
(ToFbi. 41 N)
-
DObligations of St. & L. Govt. held by Bks. & U. S. Ban. Funds (To ml. 41 F)
0b1igation of-K of V held.
hr B
ka. &
U. S. Ban. Funds
EShort-term
fore
ign
assets held
by b
ks.
FFo
reig
n se
c.held by bks.
0T
otal
obl
igat
ions
of
K o
f V
hel
d by
Bka
. & U
. S. B
an. F
unds
(T
o m
l. 41
0)
Obl
igat
ions
of
Se. &
K. F
irm
a at
al h
eld
by B
ka. &
U. S
. Ban
. Fun
BT
otal
coa
ni. &
md.
loan
s, a
ll bk
h.J
Com
m. &
md.
loan
s to
lad.
Cor
p. &
Bus
. Pr.
& P
t. et
al
KE
at. c
ons.
& le
d, lo
ans
to a
ll ot
her
nonb
k. tr
ansa
ctor
aL
oans
to b
roke
rs f
or p
urch
ase
or c
arry
ing
of s
ee.,
all b
ks.
Tot
al r
eal e
stat
e lo
ans
on r
es. p
rope
rty,
all.
bks
.R
eal e
stat
e lo
ans
on r
es. p
rope
rty
to H
RE
at, r
eal e
stat
e lo
ans
on r
es. p
rope
rty
to a
ll ot
her
nonh
k. tr
ansa
ctor
eT
otal
rea
l est
ate
loan
s on
oth
er p
rope
rtie
s, a
ll bk
a.R
eal e
stat
e lo
ans
on o
ther
pro
pert
ies
to la
d. C
orp.
& B
us. P
r. &
Pt.
at a
lE
at. r
e1 e
stat
e lo
ans
on o
ther
pro
pert
iea
to a
ll ot
her
nonb
k. tr
ansa
otor
aT
Mis
c, lo
ans,
all
bka.
UM
isc,
loan
s to
lad.
Cor
p. &
Bus
. Pr.
& P
t. at
al
VSh
ort-
term
for
eign
ass
ets
held
by
bks.
VE
at, m
isc,
loan
s to
all
othe
r no
ubk.
tren
sact
ors
K-
Tot
alob
ligat
ia o
fSec
. & R
. Fir
es a
t al I
mid
by
Bks
. & U
. S. B
an. F
unds
/(T
oT
bl. 4
1 H
)-
A B C
Ban
etaz
Sta
t.,B P a
SectjoSome of th 14're Involved Estimatingfor 1939
A165
I
.&166
i Payrolls and Operating Revenuesof l4anufaoturing 1ltterpriaes
miual estimates of total payrolls and of corporate. op..
erating revenues are available for nineteen industry groups
of manufacturing units. For purpoae8 of allocating payrolls
between industrial corporations and business proprietors and•
partnerships et al, and of estimating the operating revenues
of nonoorporat enterprises these manufactures series were
combined into three broad subgroups. The constant weight
ratios used in "mltlng the allocations and te operating rev-
enues estimates were derived from estimates of the corporate
payrolls and the noncorporate operating revenues of each of
the three subgroups in 1939.
For each subgroup corporate payroll was estimated as tim
sum of four components (a) officers' salaries as reported in
Statistics of Income, (b) payrolls for manufacturing wage
earners, (c) payrolls of central office employees, and (d)
other payroll of manufacturing establisheents. Census ,gu.tea
for (b) and (d) are not detailed by type of legal organiza-
tion. Corporate figures for (b) were estimated by prorating
on the number of corporate and noncorporate wage ,earners;
such figures for (d) were estimated by prorating on value ad-
ded In manufacturing. The 1939 Census did not cover central
offices. The 1937 total figure for central offices was ap-
portioned among the three groups by prorating on the sam of
A167
(a), (b), and (d).
Noàcorporate payroll for each of the three subgroups
was estlinated by deducting the corporate estimate from the
total as estimated by the Department of Commerce. Payroll of
noneorporate establishmants covered by the Census was siini—
lar].y estimated by subtraction. For each group the result.-
ipg total-to-Census payroll ratio was applied to th Census
figure on nonoorporate value of products to obtain an esti-
mate of noncorporate operating revenue.
These computations and the computations of the constant
weight ratios used in InAH'g estimates for years other than
1939 are set forth in Table A.
A168
Table APayrolls end Operating Revenues of Manufacturing Enterprises in 1939
(dollar figures in millions)
A Compensation of officersB Mfg. wages,C Total wage earners in mfg. md.B Wage earners in corn. mfg. lad.E Eat. Corp. wages (E:D:C)
F Other payroll ,/ -0 Total value added, mfg. tad.H Value added, corp. mfg. tad.J Eat, other corp. payroll (J:PuHtG)K 1st eat, total corp. payroll
L Est. central office payrollH Rev, est. Corp. payroll (lcfL)N Eat, total payroll, Comm. basisP Est. noncorp. payroll, Conan. basis
(N minus H)
Q Ratio eat. noncoro. to total payroll,Comm. baste (PN) (%)
B Census total payroll, exci. officers(Si-F).
S Eat. nonoorp. payroll, Census basinR minus (Bi-S)
'F Census value of products, noncorp.U Eat. noncorp. oper. rev. (U:luP,S)V Corp. oper. rev.V Ratio eat. noncorp. to corp.
oper. rev. (%) (Civ)
Food, Iron,Tobacco Steel, Other& Print-.tag lad.
(1)231
etc.Ind.,/
27].
Mfg.Ind.2/
4631,4761,236
3,58:3
2,5314,0304,120
1,0201,218
2,4473,464
3,5843,506
854 1,055 1,0815,672 8,543. 10,4684,986 8,298 9,506
747 1,025 984
2,196 4,760 4,953 11,909
1,7382,162
15,416
446694
17,332
1,9982,304
24,411
4,1825,16&J
57,159
14.02 4.00 944
Sources:Line A, Statistics of Income 1939, Pt. 2, ml. 3.Lines B, C, B, F, 0, H, T, Sixteenth Census, i-xcufactures: 1939, Vol. I,
pp. 88, 230—231.Line L was estimated by prorating total of $274 million on line K. Totalwas' assumed to be the same as in 1937 (Biennial Census, Manufactures: 1937,Pt. I, p. 1652).LIne N, Survey of Current Husine, July 1947 Supplemônt, p. 27.Line V, Same journal, April 1946, p. 19.
Includes iron and steel, nonferrous metals, machinery, nonautomotive transportation,
and automobile industries.2jlncludes textile, apparel, lumber, furniture, paper, chemical, petroleum, rubber,leather, etone, and miscellaneous industries./Thls is a crosstotal.'Includes manufacturing salaries and payro7l for distribution, construction, and
"other5.
TotalHf g.
9,089
8,18&/'
2,990
2,756/
51 1102,247 4,8702,701 5,102
454 232
12,3 2745,066 12,1835,782 13,585
716 1,402
16.81 4.55 12.38
2,330 4,638 5,111 12,079
365 149 62]. 1,135
A1)ii Payrofl.s and Operating Revenues of Wholesale Firma
The Department of Commerce has made annual estimates of
tote], wholesale payrolls and of wholesale sales by major
kind8 of business.]! Constant weight ratios were applied to
theáe series to apportion payrolls between corporate and nom-.
corporate firma and to estimate noncorporate operating reve-
nues.
For noncorporate wholesale enterprises crude estimates
of receipts from customers (operating revenues) and gross
cash pay for 1939 were made for seven subgroups. As in the
case of other broad industrial groupings, particularly min-
ing and mineral extraction and manu.facturing, no attempt was
made to adjust the establishment estimates of payrolls made
by the Department of Commerce to an ownership basis; but the
estimates of operating revenues are necessarily on an owner-
ship basis. Therefore the total wholesale payroll estimate
(corporate plus noncorporate) for 1939 is slightly larger
than that reported in the 1939 Census ($2,791 million as
ompared to $2,624 million; the difference represents omis-
sions); the total operating revenue estimate is very much
smni 1cr than the Oensus total for whole$ale sales ($28.8
The Department of Commerce has recently made an extensiverevision of its annual estimates of wholesale sales. The
new estl.mates exclude manufacturers' sales (sales by manu-facturers' branches and offices, etc.); thus these new esti-mates represent 'ihat is here called operating revenues ofwholesalers. But they did not become available in time forinclusion in this study.
£170
billion as compared to $55.3 billion). The two principal
factors accounting for the difference between wholesale sales
and the operating revenues of wholesalers are that wholesale
sales include sales of branch offices of manufacturing con-
cerns and that they include sales by agents On OOflisBiOfl.
Operating revenues of wholesalers are here assumed to equal
8alea by principals that are classed as wholesalers plus com-
missions of wholesale agents.
1939 operating revenues of noncorporate wholesalers were
estimated as foflowa:
2/Col. 1 co].. 2 assumed the, same as on line A.2j3%ofD
For corporate wholesalers the Department of Comaerce eati—
mate, Survey of Current Thisineas, April 1946, p. 19, based on
corporation income tax returns was used.
Table BEstimated Operating Revenues of
Noncorporate Wholesalers
Sales(1)
6,196
Closing Inventory(2)623A Service and limited
function wholesalers
B £gents and brokersC AssemblersD Subtotal
E Omissions, etc.F Estimated total
operating revenue
278218$521
7,359
221 2
7,580
- A171
In the case of payrolls the Census 'total was accepted
for corporations; noncorporate payrolls were estimated by sub-.
tracting this total from' the Department of Commerce estimate
for all wholesale establishments. thnissions were thus as—
sumed to be entirely noncorporate.
M,re careful revenue and payroll estimates for 1939 did
not seem feasible because the Census does not pro'ide a de-
tailed bench mark for noncorporate establishments.
For the jirpose of making estimates for other years the
1939 totals of noncorporate operating revenues and payrolls
were apportioned among seven industrial groups. The groups
were' selected partly to make it possible to use data from
income tax returns and partly as combinations of groupings
for which the Department of Commerce has prepared sales esti-
mates. The analysis of operating revenues And ayro1ls for
1939 and the computations of the constant weight ratios 'for
other years are sumirized in Table C.
A Groceries ,/B Tarn products 2/C Alcoholic bev..B Clothing &
dry goodsF Chemicals etc2/ 1,908F Hardware etc. j,/ 1,380C Plumbing etc. 2/ 380ii Lumber&
mill work.1 Bldg. mat.K All otlr.1. Total
"5n.e,c 262
8,20223,662
Rev,
- Est.Non-corp.
Whole-salers
(8)A GrocerIes 1.B Farm products
Alcoholic bev. 479D CLdthing & 965
dry, goodsE Chemicals etc.1/ 988F Hardware etc. 2/ 280C Plumbing etc. ,/'t
H thmbér& 264mill work3 Bldg. mat. n.e.c4K All other 886L Total 7,580
30.97'11.32
10.39
.1.1 4.22
A172'Table C
Payrolls end Operating Revenues of Wholesale Firma in 1939(dollar figures in millions)
See footnote 1 to accompanying textCensusSales,Serv1c& Ltd.FunctionWhole-salers.11)6,7111,1061,2491,889
lit Est,Oper. Rev.?loncorp.Whole—calera(L)+(6).i2i --
3,610
465937
.CensiSales,
Agents,Broker.& A.aee-blare
8,82730
2,G2
Eat.Oper.Rev.,?ioncorp.Agents,Brokers &Assemblers
--669
2170
TotalCompi]ed Fot.Sales, ServiceReceipts & Ltd. FunctionWhole— _Wholesalerssale Noncorp.Corp. Corp. (1)minug(3)
(2) L 1) 4,876 2,941
902 786 4631,288 1,122 767
1100 9581,2912/ 1,124
3552/1510' 963
7,61720,029 17,446
950 166 9 959256 193 16 272
234 266 22 256
585 2,716 2756,196 1.4,290 1,163
CensusPayroll, Rev,Service 1st Est. Est,& Ltd. Noneorp. Non— TotalFunction Payroll corp. Whole—Whole— (1):(7)— Pay— salecalera (9):(iO) roll Sales(9) (lo) (11)
_______
407 188 258 19,54.4
74 28 39 1,685126 63 87 4,834
Ratio,Nonoorp.Payroll toTotal Whole-sale Sales'(l1)(l2)
Cu)1322.311.80
860'7,359
SalssRatio(8)f(22)
S
ULL.
28.4319.96
97 49 '68 3,8% 2.1.3
137 27 38 2,474 1.54
101 22 30 2,244 1.18
"588 62 85 20,6271,530 439 605 55,266
Sources, Cola. 1, 5 9, 12, Sixteenth Census, iholesa1e Trade; 1939, pp. 49-.,58'.Col. 2, StatistIcs of Income 1940, Pt. 2, ml. 2. These are 1940 figures;they exclude ccmalssion merchants and wholesalers not allocabl•.Col. 3', total from Sixteenth Census, Wholesale Trade; 1939, p. 200. Thistotal was prorated on col. 2 above.Col. 6, total from Thi. B, lines B 4 C, col. 1. This total wee prorated
on eel. 5 above.,
Col. 8, col. 7 plus 3% fr omissions.Col. 11, Coomorce figure $2,791 million (Survey of'On'remt 80sineJune 19L., p 19) minus Census total wholesal, corporate nayroll, $2,186million (Sixteenth Census, Who1esle Trade: 1939, p. 200). This non—
- corperate payroll estimate. was prorated on col. 10 above.2/Line A includes food, grocery, and coflstr farm products wholesalers; in. B In-cludes wholesalers of rev materials excluding grain.a/Lines a-and 3 'aere estimated on the. aasumption that the ratios of line B to liii. Aand line J to line H are the same as in col. 1.
illncludes paints, drugs and sundrIes, and tobacco and tobacco products (excludingleaf) wholesalers. . .
2/Line P includes hardware and electrical goods, 'line C includes plumbing and heat-
ing equipeent wholesalers.2/Statistics of Tncomp total of .81,646 million for lines F and G a pxorated on aol. 1./itatisticm of income total of $9,777 million minus lines B + 3.
A173
iii Payrolls and Operating Revenuesof Retail Firms
For retail trade there are. available (a) annual esti-
mates of sales by kinds of business :comparable to the 1939
Census figures, (b) an annual estimate of total payrolls,
and Cc) annual data on corporate operating revenues by kind
of business. Estimates of noncorporate operating revenues
and payrolls by kinds of business were developed for 1939,
and for each kind of business the 1939 ratios were applied
to (a) to give estimates for other years.
Corporate payrolls (in millions of dollars) in 1939 were
estimated as follows:
TableD
A Retail stores 2,824
B Central offices and warehouses 224
C Auto repair services
D Tips and furnished meals 120
E Total (Athru D) 3,205
Sources: Line A, Sixteenth Census, Retail Trade: l9, p. 71.Line B, pp. l83—14.Line C, Sixteenth Census, Service Estab1ishment:
pp. 99—100.Line D, Estimated as two—thirds of Department ofCommerce estimate for all retailers. From files ofNational Income Division.
Nonoorporate payrolls were estimated at $2,370 nilhion by de-
ducting this total from the Commerce Department's estimate
for all retail trade, $5,575 million. All omissions from the
A174
Census were thus assumed to be nonoorporate.
The method of apportioning this noncorporate payroll
estimate by kinds of business is shown in Table E. Table E
also gives the 1939 estimates of nonoorporate operating rev-
enues by kinds of business, and the ratios used for estlinat—
ing noncorporate payrolls and operating revenues in other
years. Noncorporate operating revenues may well be under-
estimated, for the allowances for omissions are smI1er than
the allowance implicit in the Coimnerce Department estimates
of total retail payrolls.
S
Table E
Pay-rolls and Operating Revenues of Retell Firms in 1939
(dollar figures
Inmillions)
AAutomotive products retailers
BulldIng
mat
eria
ls& hardusre retailere
CRome furnishings & evelry
reta
ilers
DApparel reteilers
EDnig stores
FEating & drinking places
C,
Foo
d5tores
ii
Fill
ing
stat
ione
JCerteral rcrchand1se retailers
KOther reteilers
LSu
btot
al74
Aut
o re
pair
& s
ervi
ce s
tatio
nsN
Total
Census
Census
Total
Noncorp.
Sales
Sales
(1)
(2)
gporc. Payroll
làt
Est.
(l),(2)a
Rev.
(3):(/.)
Eat.
._I4I__
(5)
Rat
iot t
o T
otal
S81
e5 E
s!lkncorp.'
Non
ccrp
.Pa
yrol
lO
r'er.
Rev
.(5
)-.(
1)(6)-(1)
II
('7)
(8)
4.11
57.50
5.01
56.34
6.73
52.51
5.12
&9.25
7.04
71.53
15.23
94.20
4.39
74.85
5.71
102.87
2.33
22.08
5.75
70.38
16.10
88.66
Sour
ces:
Col
a.1 and 2, lInes Athru F, Sixteenth Census,
Ret
ailTrade: 1939, Pt. I, Tbl. 6A; line i-i,
_rvi
ceE
stab
1ish
men
jgJ_
j39,
Tbl
.5A
.Ccl. 3,
lines
Ath
ru K
,Sixteenth Cersus,
Ret
ail T
rede
: 193
9,Pt.lT
bl.
1A li
neN, Service
Fsta
b11s
hmej
9,Thi. 5A.
10%
ofestimated
tips
and
furn
ishe
dmacis
adde
d to
line ETIIB million) and 90%
toline F ($162.
mi1
liTC
ol.
5 yes prorated
oncol. 4.
See accompanying text explenatlon for estim'ted total,
Co]. 6, lines A, B, F, C, H. F and N, respective lines of col, 2
plus
70%.
Lines C, 0, E and J, respective
lines
of col.
2
plus
16 2/31.
AdJ. Census
Total
Payroll
[3)
Eat.
Noncorp.
Oper.
Rev
,(6)
5,549
2,659
508
21,3
228
3,191
2,735
-1,2
84312
146
137
1,541
-2,005
91.3
33/.
150
1/.)
1,10
03,
259
1,56
31,
376
958
1.21
191
178
117
167
110
1,60
5]1
183,520
2,763
72?
571
536
3,3)6
10,165
6,360
761
475
446
7,608
2,22
6,475
2,419.
1,226
•
199
351
171
-
161
161
151
2,903
1,430
3,85
92,263
1.05
237
222
2,716
42,042
22,231
t,700
2,449
26,528
441
326
22,557
•
98
'
73
2,522
71
2,370
391
26,919
A176.
iv Payrolls and Operating Revenuesof Six Service Groups
Annual estimates both of total payroll and of corpo:rate
operating revenues (adjusted Bureau of Internal Revenue fig-
ures) are available for six industrial categories of service
enterprises. The ratios used in connection with these series
were derived from estimates of corporate payrolls and esti-
mates of •nonoorporate operating revenues in 1939. Census
figures were used for the corporate payrolls of four of these
industry groups. This procedure makes the implicit assump-
tion that all Census omissions for these groups were noncor—
poraté. In the case of the business services and trade
schools group a rough blow-up was applied to allow for the
omission of consneroial and trade schools. Census data for
motion picture production and for filin exchanges do not In-
clude any detail by type of legal organization. For these
industry groups the entire payroll of producers and of inanu—
facturers' sales branches and half the payroll of service and
limited function wholesalers was included in the e8timate of
corporate payrolls for the motion picture group. For owners
of motion picture theaters, corporate payrolls were included.
The noricorporate payroll for each group was estimated by
subtracting the corporate figure from the Commerce Depart-
ment's estimate of total payroll. In conjunction with these
eatinites Census figures on nonoorporate payrolls and on
A17'7
receipts were then used to estimate noncorporate operating
revenues. For this purpose the Census ratio of receipts to
payroll was applied to the estimated. noncorporate payroll.
These computations and the computations of the ratios em—
ployed in making estimates for years other than 1939 are set
forth in Table F.
A178
Table F• Payrolls and Operating Revenues of Six Service Groups in 3.939
(dollar figures in mi].lions)
1st Est,
Ad3. Comm. Eat, Noncorp.Corp. Eat. NonoOrp, Corp. Oper.Rev.Pay— Total Payroll Oper. (5):(4)
• roll Payroll (2)ndnua(l) Rev. (3):(].)(2) (3) Jz.1 (5)
A Rote]. & lodging services 361 172 56 514B Personal service 283 617 334 622 734C Comm. & trade schools & 2231/ 450 227 983 1,001
bus, services n.e.c.B Misc, repairs & other services 20 93 73 62 226S Notion pictures 25521 339 84 883 291F Other amusements & recreation 65 221 156 23.2 509C Total 1,035 2,081 1,046 3,327 3,275
Ratio, Ratio,Nondorp. Corp.
Census Census 2nd Sat. Oper.Esv. PayrollNon— Non— Noncorp. 2nd Est,tO to Totalcorp. corp. Oper.Rev. let Eat, PayrollPay— Re.. (8)(3) (8).() (l)(2)roll ceicts (7)(6) %)_ (7 (8) 9) (10)
A Hotel & lodging services 58 259 767 149.22 52.35B Personal services 291 1,250 1,435 195.50 45.87C Coma, & trade schools & 45 l61 825 82,1,2 49.56
bus, services n.e.c.B Misc, repairs & other services 35 222 463 204.87 21.51S Notion pictures 2321 14021 510 175.26 75,22F Other amusements & reoreation 28 118 656 128.88 29.43.0 Tote]. 480 2,153 4,656
Sources: Gals. 1, 6, and 7 (except col. 1, line B), Sixteenth Census, ServiceEsitabltsbuèuta: 1939, line A, p. 595; lines B, C, and 0, pp. 96-1O3line F, pp. 9-56O; on line B see footnote a.'.Col. 2, Survey of Current Business, June 1945, p. 19.Col. 4, Survey of Current Business, April 1946, p. 19.
of Census figure ($167 million) to allow for emission of commercial and tradeechools. According to Survey of Current Business, April 1946, corporate sales forsuch schools and. euplopuent exchanges were $255 million; for other business services,$728 million in 1939.21001. 1, line S includes (a) all motion picture production, Sixteenth Census,Statistical Abstract o the U. S.. 191.5, p. 853, (b) motion picture exchanges classedas manufacturers' sales branches, Sixteenth Census Wholesale: 1939, p. 52, Ce) 50%of other motion picture exchanges, p. 49, (dS motion picture theaters owned bycorporations, Sixteenth Census, Service Establishments: 1939, p. 560. Cols, 6 and 7,line B include only noncorporate motion picture theaters,
A].79
v, Payrolls of Construction Contractors
The Department of Commerce estimate of the total payroll
of the construction industry (Survey - of Current Business,
June 1945, p. 19) is somewhat larger than the total reported
in the 1939 Census (Sixteenth Census, Construction: 1939,
p.12).
A Census estimate $1,404 million
B Gommerce estimate $1,546 million
The Census shows that 52.6 percent of reported payrolls were
paid by corporations (Construction: 1939, p. 2.1), or $739 mil-
lion.' It is here assumed that all omissions from the Census
were nonoorporate. fence the payroll estimate for eachyear
was apportioned 47.8 percent (or ) to transactor group
III ($739 million), and 52.2 percent to transactor group IV
($807 million).
A180
vi Property Taxes and Noncorporate Commercial Wrtgages
Property taxes, including special assessments and taxes
on personalty, were estimated as follows for 1939, as indi-
cated above:
Table 0
(milliona of dollars)
Transactor Gr Source
A Households 978 Iffi 202 T
B Farms 452 £0'202A
C Security & Realty Firms '890 t& 113 LetaljD All others 2,450 E minus,
(c)B' Total 4,770 I U3A
2/Thciudes property taxes paid on rented dwellingsend vacant dwellings for rent or sale.
The total on line S was apportioned among transactor
groups approximately' on the basis of crude estimates of prop-
erty valuation shown in the following table.
A181
Table HA Crude Estimate of Taxable Properties in 1939
(dollar figures in billion8)
Eat. Prop—arty Taxes
(1) + % & Specialloan 2% of Distri— Assess-
Real Funds Inven— Cola. button ments (5)Estate Reobi. tories (2+3) in (4) x 2,450Jfl_ J)_ (3) J4J_ _J_ (6)
A Industrial Corporations 83.5 49.4 18.0 84.9 1,788
B Business Proprietors & 8.5 15.5 4.0 8.9 9 221Partnerships at si
C Banks & U. S. )'bnetary Funds 2.6 75.1 0 4.1 4 98
D Private Insurance Carriers 2,3 33.2 0 3.0 3 74
E Security & Realty Firma et al 11.6 49,1 0 12.6 11 2Eaxol. residential properties
F Total - 108.5 '13.5 100 2,450
Sources: Col. 1: Line A, Statistics of Income 1939, Pt. 2, Tbl. 4, figure blown upby ratio of compiled receipts of. all corporations to corporations submittingbalance sheets. Line B, see accompanying text. Line C, Federal Depos
rance Corporation. Annual Report 1939, This. 116 and 117; real estatefixtures held by insured coemiercial banks x 2,923 + 1,977 (ratio of real -
estate and fixtures plus miscellaneous assets of all banks to real eatateand fixtures plus miscellaneous assets of insured cocxnerclal banks. Line U,real estate held by life insurance companies (Spectator) plus real estateheld by fire and marine and- casualty Insurance companies (New York InaursncSo,rts) x 5.4 -. 3.5 (ratio of loans and securities of Other InsuranceCarriers (CI 303 K) to loans and securities of fire and marine and casualtyinsurance companies in New York Insurance Reporti).LineR:
I Capital assets of financial and real estate $17.1 billioncorporations other than banks and insurancecompanies, Statistics of Inconei5939, Pt. 2,Thi. 4 raised to Tbl.. 3 level.
ii Noncorporate comnerèial properties estimoted at $ 2.1 billion1/4 of aol. 1, line B (see ratio for noncorpo—rate commercial mortgages below).
iii Corporate residential properties: $87.4 billion $ 7.6 billion(value of nonfarm residential propertiec,Statistical Abstructj/, ml. 990) x2,13/. 24,619 (ratio of corporate to allresidential mortgages, Survey of CurrentBusiness, September 1946, p. 17).
iv Eat. nonresidential real estate, Security and $11.6 billion
Realty Firms et al (I + ii) minus iii.
Col. 2: See loanfund worksheets for transactor groups.Col. 3: Lines A, C, U, E from Statistics of Income 1939, Pt. 2, Thi. 4;line B, George N. Cobren, Nonfarm Business Inventorv Component of National
Wealth, p. 4.For total on line F, see Thl. C, line 1).
)./Arbitrarily reduced to take account of properties outside corporate limits.
A182
The method of estimating the value of real estate shown
in Table H, col. 1, line B and the amount of mortgage debt of
transactor group IV at the end of 1939 (discussed below) may
be illustrated by the foUoz1ng steps for manufacturing enter—
primes.
Table 3(millions of dollars except for figures in parentheses)
i2.2 Sou
A Total compiled receipts, 58,306 Stat, of Incomeall corp. 1939, Thi. 3
B Total compiled receipts, l,9' Stat. of Incomesmallest corp. 1939, Th1. 6
C Net capital assets, 296 Ibid.smallest corp.
D Bonds & mtgs. paybL, 9]. Ibid.si11eat Corp.
B Ratio, compiled receipts, ( 29.48) A Btt].1 Corp. to smallest Corp.
F Payroll, md. Corp. 12,183 IC 21]. IC
G ThyroU, md. Corp. & 13,585 IC 211 3 + KBus. Pr. & Pt. et al
H Ratio, payroll Bus. Pr. & ( 1.115) C FPt. et a]. & md.. Corp.to Ind, Corp.
3 No. of employees & proprietors, (10,091) Survey of Cur—Bus. Pr. & Pt. et a]. & rent Business,
• employees, md. Corp. (N) Jy. 1947 SuppL,pp. 36, 39
K No. of employees, Bus. Pr. & ( 9,967) Idein, p. 36Pt. et al'& md. Corp. (N)
L Ratio, employees & ( 1.012) .14. Kproprietors to employees
N Indicator ratio, Bus. Pr. & ( 3.77) B x [(L x H)Pt. et al to smallest corp. minus ':)
N Est, real estate, Bus. Pr. & 1,117 14 x CPt. et al
0 Bet. mtg. debt, Bus. Pr. & 343 N x D.Pt.etal
£183
Similar computations were made for mining, transportation and
comminit cation, trade, construction, and service. These compu-
tations gave the following totals for group IV as of the end
of 1939:
Real estate $8.5 billion
Bonds and mortgages $3.0? billion
The Department of Commerce estimate of commercial. non—
óorporate, mortgages as of that date a $3,958 million. Thus
the above estimate indicates that 77 percent + of noncorporate
commercial mortgagee were obligations of transactor group IV.
80 percent were assigned to this group in each year and 20
percent to group X.
A184
vii Federal Exci8e and Miscellaneous Taxes
In each of the seven years 97 percent of federal excise
taxes and 81 percent of federal miaöellaneous taxes were as-
signed to industrial, corporations, and the rest of these
taxes was assigned to business proprietors and partnerships
et al. These percentages were based on detailed allocations
for 1939 as in the accompanying tables. br most items Census
data on value of products (or other comprehensive data) were
available as a basis of allocation.
A185
Tablel
Non-Total Corporate corporate
(1) - (2). (3)Federal cise Taxes:
A Liquor manufacture 310 304 6
B Brewers 268 265 3
C Dealer & other alcoholic 28 14 3.4beverage excise taxes
D Tobacco manufacturing 598 88 10
B Automobile 53 53 0
F Electrical energy 41 41 0
0 Other 344 131 33
N Total 1,4/,2 1,396 46
Itiècellaneous Federal Taxes:
J Sugar Act of 1937 66 66 ó
K Telegraph, telephone, cable, 24 24 0& radio facilities
L Club dues & fees, & adm.ta— 27 0 27alone to theatres, cabarets,etc.
H Coconut oil & oleomargarine 31 28 3
N Allother 17 15 .20 Total 165 133 32
Source of col. ii Treasury Annual Renort 19I0, pp. 662-663.
A186
viii Real Estate, Transfers and Instalments to Contractorsa/c New Residential Construction
In the apportionment, of inatalmente 'to contractors On ac—
count of new residential construction it was assumed that 30
percent. of such instalments were for tenant occupied proper'-
ties in the case of single—unit structures (including row
houses), 65 percent in the case of two—faaU structures, and
100 percent for all others. -
These ratios represent udgmenta1 adjustments of ratios
computed on the basis of the Sixteenth Census as follows. The
total number of tenant occupied units and units for sale 'or
rent was reported under these three heads; also the total for
all tenures. Both owner occupied and tenant occupied unite
constructed within the ten years preceding the Census were
assumed to be divided among these three types of structure in
the same proportions as all dwelling units. This rough com-
putation is shown in Table L, lines K through Q•. It indi-
cated the following percentages of tenant units to total
units for properties constructed during the decade:
Single—family 33 percent
Two-family 64 percent
Other 85 percent
The adjusted percentages used on SR 211 (30 percent, 65 per-
cent, and 100 percent respectively) represent a crude judg-
men1a1 'allowance for misstatement in the above computations.
A17
Belated data from the Sixteenth Census were used to give
crude estimates of the value of existing residential proper-.
ties, passing from the hands of owner occupants into rental
status or nonresidGntia]. use. One estimate was made by com-
paring the increment in the number of occupied units with the
number of units reported as less than ten years old. This
comparison indicated that 2,114,000 unitø passed out of owner
occupied status during the decade (cci. 1, line F). Average
value per nonfarm unit for sale or rent, 1940, based on
Census tabulations is $3,321. Thus the annual average source
of money to households from sale of residences during the dee-
ado may be estimated at $701 million (col. 1, line Jr). Annual
sales of farm land to private transactora for nonfarm use
have been estimated at $100 million (AG 101 B). Assinniing
that two—thirds of this amount represents a disposition of
money by households, we have net receipts by households from
real estate transfers estimated at $634 million. The rounded
figure $600 million appears on RH 101 Q.
A rough estimate that 576,000 dwelling units passed out
of resIdential use during the decade, was similarly computed
(ccl. 3, line 'F). At $3,321 per unit this would mean that
transactors acquiring such properties (ohief,y industrial
corporations and business proprietors and partnerships et al)
must have expended some $190 million per year. Such expendi-.
tures were assumed to be $100 million a year by industrial
A18
corporations and $100 million a year by business proprietors
and partnerships et al. S
These rough estinates probably err. on the side of oval'-
statement both because vacancies are not taken into account
(they ware presumably higher in 1930 than in 1940) and because
line E is probably an overstatement — people tend to under-.
estinate the age of dwelling unite.
% T
enantO
ccupied(2)+
(3)('4)
'T
ableLE
stimates
ofNumber of
Dw
elling Units B
uilt and Value
of Dwelling Units
Transferred
1930-40
(for Selected Categories O
nly)(doflar figures In
millions;
number
of dwelling units
in thousands)
Owner
Tenant
Total
Occupied O
ccupied(l)+
(2)C
i)(2)
(3)A
Total l94b /
15,802:
21,52337,325
BOccupied 1940
15,196
19,659
34,855
COccupied 1930 /
14,28015,625
29,905
DIncrement, 1930-40 (B minus C)
916
4,034
4,950
ETotal àf 1940 units built, 1930-40
3,030
2,498
5,528
FBat, no. of transfers (E minus D)
2,114
—1,536
576
JEat. ann. value of tranafers (1/10 F x t3,321)
,/
701
—5)1.
190
KDwelling units In 1 family structures 1940
13,762
11,146
24,908L
Dw
ellingunits In
2family structures
19401,315
3,806
5,121
14D
welling units in other structures
1940
7256,571
7,296N
Eat. uuitg built.during 1930-40, 1 family K x (B + A)
2,639
1,292
3,931
33
PE
at, unitsbuilt during 1930-40, 2 family
L x (B .
A)
252
442
694
64
QE
at,units
built
during 1930-40, other14x
(B4 A
)139
762901
85
Sources:L
inesA, B, Statistical Abstract 1945,
Tbl. 986.
Sixteenth Census, H
ouaiugj9h0,Vol.
II, Tbl.
5.
i/Owner oócupied
includes vacant, notfor sale or
rent, andtenant
occupied includes vacant,for
sale or rent.
2JNot
reported by tenureare prorated.
-
/3,321,the average value per nonfarm dwelling unit for rent or sale In
1940,w
coinputed-aathe
Census estimates of total
valuedivided by total number of these units, or 4"'
(itatisticaIA
batract1945, This. 990, 992).
1,429
Line C,
Tbl.
987.
Line B
,L
inesK, L, 14,
p.10,
ix Other Instalments to Contractors
Instalments accruing to contractors from the several
transactor groups were estimated by applying rough ratios to
the various annual component estimates of the value of con—
struiction york published by the Departnent of 0ommerce, )y1944.
The bench mark information on óonstructjon is far from
adequate for the purpose of determining appropriate ratios,
and it was necessary to resàrt to various crude procedures.
Instalments to contractors include instalments
contractors. Only instalments to prime contractors
directly related to the value of construction work.
lation of estimated total instalment receipts to
receipts by prime contractors in 1939 is as follows:
ItemA Instalments to prime contractors
B Instalments to subcontractors
C TotalD Instalments to Izid. Corp.
contractorsB Instalments to Bus. Pr. & Pt,
•et a]. contractors
Total
Sourceml.?, co]..5,line U(PP 202 i) +(Ic 202 N)A+ B
IC 101 T
A190
to sub-
can be
The re—
estimated
Table N(millions of dollars)
224,99'7
524
5,521
2,20g
3,313 PP 102 F
F 5,52]. D+E1"Revisions of these estimates have since appeared, but itdid not seem feasible to take account of these revisions inthese computations.
A191
The total value 'of construction work in 1939, according
to the Department of Conuneroe estimates,, was more than twice
total instalments to prime contractors as estimated on line A.
above. Tim difference betweón these two estimates was assumed
to be due to two factors:' the value of force account con—
atruction work and the value of equipment installations by
manufacturers and dealers. Some effort was made to include
such equipment iust1lationa as contract construction in the
1939 Census, but the coverage must have been distinqt].y hap-
hazard. The relation between the estimated total value of
construction work and the sétimated instalments -to prime con-
tractors may be detailed thus:
Table N(millions of dollars)
• i2 Source
A Coma, eat, value of constr. work lO,3]5 /'Components of this total assumedto be wholly force acct. work:
B Conservation & development, 156 /• Army Engineers
C Work relief 1,032 /
D Public utility maintenance 711 JB Rivera & harbors maintenance 4 il
F Total of above components 1,947 Bthru B
G Components used in estimating 8,36g A minus Finstalments to contractors
H Allowance for force acot. constr., 3,371 G minus 3& dealer & mfr. installations -
mci. juG3 Instalments to prime contractors 4,997 Tbl, P, col. 5,
_____________________
line U2/Construction Activity in TI S., Special Release May 1944,U. S. Department of Commerce.' -
A192
Instaiments to. prime contractors as reported in the Six..
teenth Census, Construction: 1939, Table I, totaled $4,520
million, unincorporated• egtabliebments accounting for 53.6
percent of this total, or $2,425 million. Assuming that
Omissions are all noncorporate, and are comparable to payroll
omissions (see' App. A 3 v) th Census total should be in—
807-665'creased by x2,425 or some $500 million, to a totalof $5 billion.
Tables VI, XIII arid XV of the Sixteenth Census,.
n: 1939, give inforua'tion on value of construction work by
type of project, although the two latter tables cover only
the larger establishments (with, business of over $25,000).
An attempt was made to piece the information from these three
tables together, and to blow it up to approximately the $5
billion, A comparison of the' result with the Commerce De-
partment estimates of totaL value of construction work by
type was used as a giiide In determining the allowances to
make for force account work and dealer and manufacturers in-
stallations. Thus the type of project components of instal-.
menta to prime contractors were estimated. These components
were then apportioned to the various transactor groups. In
a number of cases the entire component' was assigned to a
single transactor group. But several of these components
had to be apportioned by groups' on the basis of rough judg-
mental percentages. The following table summarizes the
£193
estimates of force account ,rk and dealer and manufacturer
installation allowances and of instalments to prime contrac-
tors. In general col. 4 is approxiinate]y equal to col. 1 di-
vided by col. 2, but in some instances there is a judgmental
deviation from this formula.
It would undoubtedly have been possible with the avail-
able information materially to improve the method of estimat-
ing instalments to contractors atmirnarized in the table below.
However, more refined methods would have involved a good deal.
of additional work, and it did not seem feasible to mdei-take
a more careful set of óstimates in connection with this ex-
ploratory study.
A194
Table PEstlneted Instalments to Prise Contaetor in 1939
(dollar figures in millions)
Private building constr. iA New res,
B Rae. repairs
C Other new building(see lines V thru Y belov)
Public &private nonres. emnatr.:
D Building repairsPublic new constr.
R Res.P Publio a, & boap. & inetit,C led. & comm. buildingB Educ. social, recrea-
tional & misc.
R Highway retireS Sewage & watr repairsP Privite new nublic
util]ty constr.
U Total (A theu T)
led.
Cc., 300151 & misc.Fteligious, odue. & ?osp,
Instalmentsto Contrao—tore, Census
Est.
9622?395110
_________
msmt.to
Cnetoao-
40.0 &).0 1,52245.6 54.4 499
721
85.0 36l/92.0 7064.4 17464.4 2764.4 290
59.3 51566.7 22
100.0 16283.3 10066.7 861/66.7 10
100.0 91
11.8 7480.0 6340.0 210
4,997
5883.3 18893.5 3&3
95.0 106
Souroesi Cole. 1, 3, aed 4, See accocoenying text,- 001, 2, Construction Activity in the U..S., Special Rolease )y 1944,
U. S. Depe.rtment or Comearo..
/oludes TVA aM Ara Engineers.a,/Thi'se are sesblic heavy repairs.
1/These are nev.private heavy repairs and highway maintenance.W'A Bureau of Agrlàultural Economics series was used ror estlisating thialtea./Repreaents instalments to urine contractors on nonfarm building repairs only.Farm building repairs of $170 million were deducted from Col. 2 before al].o—eating remainder ($427 million) between force account end instalmente to
oontraotore.
Ya.1.me of Coastr Act1irilofCoL2vie. t1tA1
Coma. & Dealer & moat.!et. Wr. IMtal— t. Con.
letione tractors.L.?_ () —
1,512 2,537.499 917
&2 828
384 59? 15.0
70 76 8.01 270 35.6
d91 < 4.2 35,6
L
450 35.6
.7 RighwsysE TVA
t Sewage & water eurolyM Military & navalN Conservation & developmentP Other Fed. Govt.
Q Other St. & L. Govt.
.515 .832
162466 119
1301/
9174 629532_f 79
2052/ 526
4,871 8,368
Other new private builaing(line C above):
Farm nonres. cnnetr.
40.733.3
016.733.333.3
0
88.220.0
16.76.55.0
V
w
I.I
Apportionment of Estimated Instalments to Contractorsby Transactor Groups
A195
Between groups I & X,See App. A 3 viii50% to group I, 50% to gxóup X
See linei V thru I below
The Dept. of Comm. est. for non—rca. non!ar,n building repairsin 1939 is 427 million. Suchrepairs were apportioned as fol-lows: Group III, 22%; IV, 16.7%;V, 5%; VI, 33.3%; I, %. The re—inainder (15%) was assumed to be.force acot. &. dealer & mfr.installations.
Between groups V & VI,See App. B, Worksheet. E-6—C
33% to group V, 67% to group VI
All to group VAll to group VI
All to group VIAU to group VAll to group VIAll to group VAll to group V
Private building constr,:A New res.
B Roe, repairsC Other new building
Public & privatenonres. conetr.:
D Building repairs
Public new conatr.:'B Roe.
F Public adm. & hoap. &instit.
G md. & comm. buildingH Educ., social, re-
creational & misc,3 HighwaysK TVA
L Sewage & water supply1! Military & navalN Conservntion &' devel—
opmentP Other Fed. Govt.Q Other St. & L. Govt.R Highway repairs
Sewage & water repairsT Private new public
utility conatr.Other new private building:
V Farm nonres. constr.W Ind.
I Comm., social & misc.
I Religious, educ. & hosp.
All toAll toAl]. toAll to
JJ.to
groupgroupgroupgroupgroup
VVIVIVIIII
All to group II75% of col. 2 to group III,
.3% to group IV25% of co].. 2 to group III,25% to IV, 25% to I, 12.5% toVII, 3%'to VIII, 3% to IX.
95% of Thl. P, ccl. 2 to IV
SourceHE 102 THE 203 (D thru I)minus N
Q 10]. D + NIG 202 J + N
D minus (A j. B)
Detail by t'pea of policy was
and B (see worksheets referred to
the reports of the New York State
blown up to provide an analysis of
(by subtraction) of line C. The
used in estimating lines A
above). Such detail from
Insurance Commission was
the totals on line D, and
detail for line C was then
£196
x Private Carrier Insurance Premiumsand énefits
Estimates of insurance premiums paid to mivate carriers
by households and farms in 1939, and of total premium re-
ceipts of private carriers (less dividends to policyholders)
in that year have been explained on the preceding sample
worksheets. These sample worksheets also cover correspond-
ing information for benefits. Combined totals for other
sectors can thus be computed as follows:
Table(millions of
A N. or recd. byHouseholds
B Pd. orreod. by 9? 46Farms
C Pd.orreod.by 1,843other transactors
______ ______
D Pd. to or by £1i 6,O&7 /Ins. Carriers
/Tota1 premium receipts $6,254 million minus dividendsto policyholders of $18? million.
Qdollars)
BenefitsRead.2,750
PremiumsPd.
4,12'l
55].
3,347
A197
apportioned anng transactor groups III, IV, VII and X, as
indicated in Table L Lines D and' N of Table R were appor-
tioned on the basis of eatinated property taxes paid. Line F
was apportioned between two sectors and line G aing all four
sectors on the basis of payrolls. The other apportionments
'are arbitrary.
Total preniume and tote]. benefits for the four sectors
for other years were assumed to be distributed in the same
proportions as in 1939, i.e., the percentages on lines J and
R were applied to totals for other years corresponding to
those on line D of Table Q.
1198
TableRApportioxuáent of Insurance Premiwna and Benefits
ng Four Traneactor Groups In 1939
Ind Bua.Pr. Bka. & Sec. & R.Irid. & Pt. U.LMn. FirmaCorp. et el Funds et a]. Total
Tyce of Po1icy JIL (2) j) (1..) (5)Premiums
ALife 57 0 0 1]3
B Automotive 156 155 0 35 346
CMarine 76 38 0 0 114
D Other property 262 32 14 182 490
K Fide].ity, etc. 99 99 32 99 329
F Worlonen's 235 71 0. 0 306compensation
G Self-admInistered 107 32 2 4 145pension plans
H Total 992 427 48 376 1,843
3 Percent 54.0, 23.0 2.5 20,5 100,0
Benefits
KLife 13 0 0 26
L Automotive 79 ' 0 18 176
N Marine 32 17 .0 0 49
Ii Other property 110 6 76 205
P Fidelity, etc. 29 29 8 29 95
Total 263 ]3 14 ]36 551
H Percent 47.5 25,0 2.5 25.0 100.0
£199
xi Household lbrtfàlios
Although household portfolios are an extremely Important
item, the informational basis for estimating them is partic—
ulariy unsatisfactory. The methods employed for four of the
major components of this item were sufficiently considered in
Section 2: government obligations, mortgages on farina, mort-
gages on one to four family residential properties, and re—
purchasable shares of savings and. loan associations. The re-
maining component is a very large one. It includes all other
forms of indebtedness held by households plus corporate
stocks.
As already explained, the annual increments used in con-
nection with this large component were based on the Securi-
ties and Exohange Commission's estimates of savings in. the
form of individual holdings of "securities, corporate and
other". This series represents the increment In the hold-
ings by households of corporate stoclca and corporate obliga-
tions. Where title to such Instruments is held by a natural
person directly, or through his participation in a business
partnership, it is assumed that the title is held by the nat-
ural person in his capacity as a member of a household. How-
ever, this Securities and Exchange Conmission estimate is on
a net basis in that the increment refers to holdings less
bank loans for purchasing or carrying securities. Hence the
A200
adjustment of HH 311 0 to a gross basis on JUl 311 Q. Line Q
is not precisely adapted to our present purpose but the eati—
mate on HR 31]. S is so rough that further attempts -at adjust—
ing HR 31]. 0 did not seem warranted.
It remains to consider the crude estimate of total hold-
ings of stocks and misceflaneous forms of indebtedness for
December 31, 1939 used in passing from RH 311Q to RH 311 R,.
The miscellaneous indebtedness holdings of households n
that date were assumed to be obligations of transactor groups
• III, IV, I and XI. It was further assumed that short—term
obligations of these groups were held ehiefay by banks and• security and realty firms et a].. Estimates of short-term
obligations and of the noncorporate residential mortgage in—
debtednes$ of group I (a portion of such mortgages being pre-
viously included in household portfolios) were therefore de-
ducted from debts n.e.c. of these groups to obtain a total to.
be apportioned among holder groups. This process may be out-
lined as follows:
2/The manuscript of Irwin Fiend's monograph on the Volumeand Comnosition of Individual Savings became ,available toolate for this study to profit by it. Thin study makes itpossible to improve and simplify the estimates of householdholdings of stocks and nongoverument obligations, among thefurther adjustments that might be made in HR 311 R are (a)subtracting the increment in the excess of the holdings ofsecurities by nonoorporate\ security dealers over bank loansto all security dealers, () adding the estimated incrementin household hâldings of nmcorporate commercial mortgages,.(o) subtracting the estimatd increment in institutional hold-ings of private securities.
A201Table S
Miscellaneous Debts Outstanding December 31, 1939(millions of dollars)
Deduc.-Gross tions Net
(1) (2). (3)A III md. Corp. . 40,000 / 5,000 35,000B IV Bus. Pr. & Pt. et a]. 7,700 / 4,500 3,200C I Sec. & R. Firma et a]. 31,800 ,/ 14,300 2J 17,500D XI R of U 4.105 3/ 0 4.105B Total of above 83,605 23,800 59,805ilsee B III, IV, and I.2jShort-terzn debt estimated at $4.1 billion and noncorporateresidential mortgages at $10.2 billion.3/Private U.S. long-term Investments abroad (excluding directinvestments), International Transactions of the U. S. 194Q
U. S. Department of Commerce, 194, p. 110.
Next the holdings of the Indebtedness included In the
$59.8 billion total were estimated for six transactor groups
as follows:
TableTHoldings of Miscellaneous Indebtedness December 31, 1939
(millions of dollars)
A V Fed. Govt. 3,500 Based on a specialFed. Res. tabulation
B VII Bka. & U.S. !'bn. Funds 6,800 See footnote 21C VIII All. Ins. Carriers 13,200 See footnote 2J
D XI R of U 5,340 Intl. Trans. of theLi., p. 110 3/
B (In IV) Endowments 600 Eat, as PP 301
______
(N+P) x (65.0%)F Total 29,440Corporato end foreign bonds plus nonfarm, nonresidentialmortgagee (Comptroller of the Curren.y, Annual Report 19h0,p. 276) plus estimated tern loans (see Term Lendini to Bu.si—
National Bureau of Economic Research, pp. 139 and 274).&'Estlmated bonds held (based on Snectator and Iw York Inazr—
Repo) minus government bonds held (eaau1.v. AnnualReport l9h3, p. 751) plus estimated nonfarm, nonresidentialmortgages held (based on a special report of the Federal Say—.rgs and Loan Insurance Corporation, August 8, 1947).3/Private foreign investments in the U. S. (excluding corpox'—ate stocks and state and municipal obligations).
A202
Presumably substantially all of the rema:Ining miaeellanó-
ous obligations ($59,805 million m.nus $29,440 million) were
held by transactor gropa 'I 'III and X. A rough analysis of
interest receipts indicated that households received about
three times as much interest on such obligations as idtstrial
corporations and security and realtr firms at al taken to-
gether. Household holdings were therefore estimated as (75%)
x $30.4 billion or $22.8 billion.
Data for estimating holdings of stocks are much less sat-
isfactory. Total paid—in capital shown on P&B III, VII and X,
for December 31,, 1939 is $111,540 million. A TNEC monograph
indicates that about 5/8 of stock at the end of 1937 was held
by bouseholds.21 The household estimate is thus 5/8 x l11.5
billion or $&9. 7 billion, and the estimated total of stocks
plus miscellaneous debt as of December 31, 1939 is $92.5 bil-
lion.
2JThe Distribution of Ownershin in the 200 Lrestcial Coroorations, Temporary National Economic Committee,bnograph 29, p. 9.
A203
xii Gross Transfer Receipts and Expenditures
The explanation of GNP expenditures and net transfer ex—
penditures given on pages A145 to A160 of this appendix can
be used to show how gross transfer expenditures, gross trans-
fer reeipts, and nonfinal product receipts should be calcu—
latec3. Some of those who wish to use the estimates presented
in this study nay prefer to have Table 33 (Synopsis of CTNP
Expenditures, Loanfund Financing and Other Noneyflows) on a
gross basis. Accordingly we give below a table of transfer
flows in which receipts have not been netted against expendi—
tures. The various categories of moneyflows transactions in-
cluded here as transfers are listed in Exhibit B of Chapter
]X of the main text. This table of transfer flows, and the
statements of payments and balances, can be used to gross up
Table 33.
Tab
le U
Gro
ss T
rans
fer
Rec
eipt
n an
d E
xpen
ditit
rea
(bill
ions
of
dolla
rs)
.1 .217
.6
2212
2G
ross
Tra
nsfe
r R
ecei
pts:
A B C D K P 0 H 3 K
Hou
seho
lds
Farm
sIn
dust
rial
Cor
pora
tions
&is
5nes
e Pr
opri
etor
s &
Frt
ners
hipe
Fede
ral G
over
nmen
tSt
ate
& L
ocal
Gov
ernm
ents
Priv
ate
Insu
ranc
e C
arri
ers
Secu
rity
& R
ealty
Fir
ms
etal
Rest
of th
e W
orld
Tot
al.
-
et m
l
:
7.2 .3 .2 1.1
1.3
2.6,
4.5
5.3 .4 .2 1.2
2.7
3.0
4.6 .2 .2
17.9
6.1 .5 .2 1.2
2.0
3,1
4.6 .2 .2
19.0
6.3 .9 .3 1.1
2.6
3.3
4.6- .1 .2
19.4
6.7 .8 .3 1.3
2.9
3.2
5.0 .2 .2
20.6
6.5 .7 .3 1.3
3.6
3,4
5,5 .2 .2
21.7
6.8 .8 .4 1.6
7.0
3.3
5,8 .2 .4
26.3
Gro
ss T
rans
fer
Trp
endi
ture
s:'
L N P Q
Households
NFarms,
Industrial
Cor
pora
tona
Dus
ines
eProprietors & PRrtnersipe
Federal
Gov
ernm
ent
et el
.•
-
5.6 .1
1.0 .5 4.2
6.6 .1 1.0 .5 2,4
6.5 .1 1.0 .5 3,0
6.2 .1 1.1 .5 3.7
6.7 .1.
-1.
2 .6 3.9
7.7 .1 1.4 .7 3.6.
.1 1.8 .7 4.2
11 S 1
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e &
Loc
alGoverhmenta
riks
& U
. S. 3
4roe
tary
Fun
dsPr
ivat
e In
nura
nce
Car
rier
s
2.6 .1 3.3
3,3 .1
3.3
3.8 .1 3.5
3.9 .1 3.5
3.9
-.1
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6
3.9 .1 3.?
3.9 .1
3.8
U V V
Secu
rity
& R
ealty
Fir
ms
et m
lR
est o
f tF
a W
orld
Tot
al-
.3 ,/17
.6
.6 J17
.9
.4 1/19
.0
.4 /19
.4
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206
.5 /21
.7
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,3
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eae
than
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ion.
Not
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ue to
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ndth
g co
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ns m
aynot
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isel
ydowntotal.
-I
Section 4
For the Convenience of Thoee Who Delveinto Appendices
A205
A206
i A List .of the Principal Sources
Bank Supervisory Agencies:
Banking and Wnetary StatisticsBoard of Governors of the Federal Reserve System,
Annual ReportsComptroller of the Currency, Annual ReportsFederal Deposit Insurance Corporation, Annual ReportsFederal Reserve Bulletin, monthly
Department of Commeree Publications:
County Finances, 1942Financial Statistics of Cities, annualFinancial Statistics of States,. annualGovernmental Finances in the United States: 1942International Transactions of the, United States During the
War 1940—1945, issued 1948Sixteenth Census: Construction, .}.nufactures, Retail and
Wholesale Trade, Housing, and Service EstablishmentsStatistical Abstract of the United States, annualSurvey of Current Business,, monthlyUnited States in the World Eeonomy issued 1943
Department of Agriculture:
Agricultural Finance Review, sea4-annual.Agricultural Statistics, annualBalance Sheet of Agriculture, annualLarsen, Harold C, Diètrlbution by Lender Groups of Farrn—
Mortgage and Real Estate Holdings, January 1, 1930—1945,issued August 1945
Net Farm 'Income and Parity Report: 1943, issued July 1944'
Financial Statements for Industrial Corporations:
Moody's Public UtilitiesStatistics of American Listed Corporations,
Securities and cchange Commission, issued 194].
Statistics of Communication Industry,Federal Communicatina Commission, 'annual
Statistics of Electric Utilities in the United States,Federal Iwer Commission, annual
A207
Financial Statements for Tnduatria]. Corporations: (Cont.)
Statistics of Railways in tha United States,Interstate Commerce Commission, annual
Survey of American Listed Corporations,Securities and Exchange Coimuiselon, Data on Profits andOperations, annual; Balance Sheet Data issued on variousdates in 1945
Department of the Treasury, n.e.c.:Commiss loner of Internal Revenue, Annual ReportsDaily Statements of the TreasurySecretary of the Treasury, Annual ReportsStatistics of Inàome, Part I and Part II, and
Source Book to Statistics of IncomeTreasury Bulletin, monthly
Insurance Reports:
New York State Insurance Commission Reports, annualSpectator Insurance Year Books, annual
Miscellaneous:
Automobile Facts and Figures,Automobile nufaoturers Association
Facts and Figures of Government Finance, The Tax Foundationstmaster General, Annual ReportsSecurities and Exchange Commission, Annual ReportsShapiro, Solomon, 5The Distribution of Deposits and
Currency in the United States, 1929—1939,"American Statistical Association Journal, Vol0 38,pp. 438-444
Social Security Yearbook, Social Security BoardVolume and Components of Savings in the United States 1933—
1940, Securities and Exchange Commission, 1941
ii A. Glossary of Abbreviations
a/c . . . . .accte.(a) . .adj. . . . . S S
adm. . . . . . S
agr. . . . . S
LU Ins. CarriersAmer. . . . .ann. . . . . .app. . . .Apraaan.(s) . . S
Aug. . . . . .avg. . .. . . .
BAE..boy. .
B]Ibk.(s)Bks. & U.
bldgbu. . •. . . S'Sbull. . . . . I Iburbus. . . . . .Bus. Pr. & Pt. et
compt.oonatr.cont.Corp.
C. Y.
on account ofacoount(s)adjustedadm.tnistration, aim1nistrativeagriculturalAll Private Insurance CarriersAmericanannualappendixAprilassociation(s)Augustaverage
• , . . Bureau of Agricultural Economics• . . . beverage
Bureau of internal Revenue• . . . bank(s)Funds . Banks and United States Wrnetary
Funds•... building•... bushel.... bulletin.... bureau• . • . businessal . . Business Proprietors and
• Partnerships et alComndity Credit Corporationcompany, companies
.rcommercia].
L coD,mission
comptroller -
constructioncontinuedàorporation( a)Civil Works Administrationcalendar year
......... December• • . . . • . . . department
(division• •I••••• 1dividend(a)
A208
• I S •
S I •. S
• I, S •
I S S I• S S ••
• I S •
• . I •
S S S
S S S I• I I S
S. )bn.
CCC . • . . I • S S
co.(s)
co. . . . . S • S S S
• I S
• I S
• S
• S I S S
• I S S • S
S S I, S S I
Dec.dept.dlv.
expd. . . , . _._
FCCFeb. .Fed. .Fed. Govt.
F • I.
A209
economiceducationalestimete, estinatedExchange Stabilization Fundexcluding, excludedexpenses (in oper. exp. & prod.exp.)expenditure(s)
Federal Communications CommissionFebruaryFederalFederal GovernmentFederal Ibwer Commissionfiscal year
govt. S S S S • S government
I Ihoap. . .
• S S I • S I• . I • • • S
householdshospital(a)
ICCmd. .md.Thd. Corp.ins.instit.mt.intergovt.interp.intl...mv. .
• S S I • • • •
• . I I S • •• I S • I • • I
•• I • I S I I• S • S S I • I
• S I S I I S S
S I I S S S S I
Ikiterstate Commerce Commissionincluding, includedindustrialIndustrial Corporationsinsurance, insuredinstitutionalinterestintergovernmentalInterpolated, interpolationinternationalinvestment(s)
3an.30.3y.
• I I I• S I •• S S •
• . Januaxy• . Jima• • July
• econ.eduo.eøt.Exch.exol.
exp.
• S S S S S S
• S • •l II S I S • •
Stab. Fund• I I I I S
• S S • S • S
S. I •
. ISS..I. S
• I •
. •
.5 I S S
• I • S
• S S
• S S I
• I. S. I
• S • S
• I • •
• S S S
• • I S
• I I • S •• S S
• I S I S I •• •
Life Ins.. COs.bc. . . .ltd. . • .
• . Life Insurance Companies• local
• • limited
... thousand• . • million
March• . . merchandise• . . Matropolitan• . . manufacturing• . . manufacturers• • . miscellaneous• . . month(s)• . . mortgage• . . moving
nat, . . .n.e.c. '. .no. .• . .nonadm.nonbk.(s) .
nonbus. .
noncOEa.noncorp. .
nonfed, •
nongovt.nonin.s, .nonrea. • •
Nov. •
N. Y. • • .
. I I S S I •• S S • I I I• S S S I I S •• S S • S I S ê
• I • • S • •I •• S • • S I I •• I S S S I • •• . I • I •• S •• ._ I • • •. •• . . . S • I S
• • I I I I S •
• S I I I I S e
• . . I S S •
nationalnot elsewhere classifiednumbernonadminiatrativenonbank(s)nonbusinessnoncommercialnoncorporatenonfedera].nongoverrznentnoninsurednonresidentialNovemberNew York
Oct. , • . • • • , . . . .
oper. . . . • • . . • .
org.(a) . • . • •
Other Ins. Carriers
Octoberoporati.ng (in oper. rev. &.oper. exp.operationaorganization(s)Other Insurance Carriers
pagepayablepayments and balancespaidpreliminaryproduction (in prod; exp.)part.Public Works Administration
N...
Mar.mdae...Met.mfg. .mfr.misc.
S
mtg. .. ..movg...
• I • I •
• • I •• •
• . S • S
• . ., • ..• . . I S
• • I I S
• S • I I• I I • S
• I I I •
• . S I
• ..• .• .. S
• .
I S
• I
• S S • S
• . . . I
p. .
paybi. .pd....prel. .
prod. ..
pt.WA ..
I
S
.
• I I I S S
• . . I I S • I •
. S • • I • I• • S I I I I I I. . I S S I II I I I I I S
• . S I S • I •
. . I I S • S S
A211
receivable(s)received
(residentialresearch
Reservé (in Fed. Res.)• Reconstruction Finance Corporation
• . .[revenue (in oper. rev.)trevised
• . . . • . • The Beet of the World
• • . . . . . railroad
• • f section\ security, securities
• . . Securities and Exchange Comizisaional . Security and Realty Firms et al• . . September• . . statistics, statistical• . . State and Local Goverunents
• supplement• . • saving(s)... system
unadjustedunpublishedUnited States
vol. . . . . . . . • . . VOlU3
yr.(s) . . . . . . . . year(a)
recbl. (a)reed. . . . . . . .
. . . . . . .
RFC
rev....RofWB.R . •
Sec. • . . • .• .
SEC . . • . . S 0
Sec. & R. Firms etSept. . . . .stat. . -. .St. & L. Govt.su.pplsvg.(s) • . . .syst. . . •
tbl.tech.tel.tranap.trans.WA
unadj.unpub.U. S.
• . . . . • . S
• . S S S S
S • S S • •. S • • •
• . . . . . . S
. S S S S S
• . • . S S S
• S S • S S
tabletechnicaltelegraph, telephonetranSportatiQntransactionsTennessee Valley Authority
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