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

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t & s

ick

bene

fit a

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., cl

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s p0

.N

Ffre

& th

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ns. O

n pe

rson

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rope

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NA

uto

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clai

iapd

.o

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sIon

sre

ed, u

nder

ael

f-.a

dmin

iBte

red

pens

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plan

sW

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' icg

mpe

nsat

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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

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y to

tal s

tock

oaa

ualty

, sur

ety,

& ta

isO

, ins

, sos

.N

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pre

niun

s p0

. on

owne

r oc

cupi

ed n

ozd'

arm

dw

ellin

gsS

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. ben

efits

ree

d. b

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H f

rom

fir

e &

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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

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.34)

/-

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Tile

s,U

. S. D

ept.

of C

nns.

, Nat

. Inc

ome

Dlv

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àt.a

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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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App

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s (E

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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.

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+E

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211

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lrius

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et, a

s K

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1/

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ivity

in th

e U

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ial R

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ay 1

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U. S

. Dep

t. of

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m.

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11

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A B C D K F a

A B C D

Inst

alm

ents

to C

ontr

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ueof

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res

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atr.

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947

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f es

tiinn

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ased

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193

9 C

ensu

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stru

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ta to

the

1939

estim

ates

of

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e U

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d St

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(Sp

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194

4), U

. S. D

epar

tsne

nt o

f C

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r th

e w

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t rat

ios

see

App

. A 3

ix.

Rev

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Coi

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Dep

artm

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stim

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of

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activ

ity b

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e av

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if -I J-K

L If 0 P

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pend

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exce

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pare

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HR

2

Tax

es C

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Indi

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com

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o Fe

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/In

divi

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r ca

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ars)

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ars

(Moa

rs)

Avg

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nont

arm

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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

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taxe

s (e

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orve

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colle

cted

by:

P94

larg

eci

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QAll

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RState

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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.

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c. g

ovt.

fees

, fin

es &

pen

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s co

llect

edW

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,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

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IC 1

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0121

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s 3.

. 194

4,p.

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102

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, Dec

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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

-

Nminus (0 t&u U)

Eat,

as I

C 2

21 T

x (

10%

)E

at, a

s V

min

us V

Est.

aslx

(80%

)

(1c2

22P)

÷(I

c223

G+

K+

M+

y)w

publ

ic u

tility

con

stru

ctio

n, 6

0 pe

rcen

t of

all n

on—

22i2

2So

urce

Ref

eren

ce

1,52

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

(IC

221

B)

+ (

IC 2

22 D

+ K

)C

xDIncrement

in K

(IC

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

ces

Sale

a co

zani

ssio

ns:

Cos

t of

good

s so

ld b

y w

hole

sale

end

ret

ail c

orp.

Eat

, sal

es c

oma.

pd.

by

lcd.

Cor

p.A

dver

tisin

g ex

pd.:

IC

ost o

f m

agaz

ine

adve

rtis

ing

(men

th1y

avg

. in

$ M

)K

Eat

. cos

t of

adve

rtis

ing

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

eris

ing

Mis

c. s

ervi

cess

/N

Gro

ss c

ash

pay,

lcd.

Cor

p.0

Ret

. lcd

. Cor

p. e

xpd.

on

mis

c, s

ervi

ces

Post

al S

ervi

ces:

PPo

st O

ffic

e op

er. r

ev.,

C. I

.Q

HE

exp

d. f

or p

osta

l ser

vice

sR

Non

HE

exp

d. f

or p

osta

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

tion

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

Tav

els

AB

R p

asse

nger

rev

enue

BP

uils

en g

ross

rev

enue

s-C

Tot

al, R

H+

Pul

isen

pas

seng

er -

reve

nue

DR

Hex

pd.

for

BR

+Pu

llman

serv

ices

-BN

on H

R e

xpd.

for

BR

. + P

ullm

anse

rvic

esP

md.

Cor

p.. e

xpd.

for

BR

+ P

oThv

u. s

ervi

ces

418

Stat

. Abs

trac

t 194

3, T

bl. 5

1659

Idem

, Tb]

.. 52

547

?A

+B

288

-S

urve

yof

Cur

rent

Bus

ines

s Jo

. 194

4, p

. 10

189

-Cm

inns

D12

5E

at,

as2/

3ofE

3,25

137

833

7(2

.76)

659

1,81

95,

070

(4.5

8)

1,55

715

6--

1,40

13,

5%

IC 2

23Z

PP 2

13 a

App

. B, W

orks

heet

s (A

-4-0

) +

(E

.o4-

q)E

at,

as I

x (

90%

)G

+H

+J

-

Stat

. Abs

trac

t 194

3, T

b]..

518

Idea

194

4, T

b]..-

552

mid

.)(

4N

Surv

ey o

f C

urre

nt B

usln

ese.

Je. 1

945,

p. 1

9O

xPL

+ Q

R. K

GxS

HxS

Bet

, as

U x

(10

%)

U m

imia

VI"

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

Indu

stri

al C

orpo

ratio

ns —

Sup

p1nt

to O

rdin

ary

pend

iture

sE

stim

ated

Spe

nt b

y In

dust

rial

Cór

pora

tiona

as

Cus

tom

ers

(mill

icna

of

dolla

rs e

xcep

t for

fig

ures

In

pare

nthe

ses)

22

5,10

225

Frei

ght o

harg

esi

0le

d. C

orp.

pur

chas

esB

Res

.Pr&

Pt.a

tal

IFe

d, G

ovt.

puro

hasó

sZ

Fed.

Gov

t. pu

rcha

ses

KT

otal

pur

chas

es o

f

Sour

oe R

efer

ence

of g

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

L-

RB

frei

ght r

even

ue (

Cla

ss I

line

s)K

?tor

fre

ight

car

rier

s' o

per.

rev

.N

)bto

r fr

eigh

t car

rier

s'-

payr

oll

0R

atio

, ope

r. r

ev, t

o pa

yrol

l, m

otor

fre

ight

car

rier

sP

Payr

oll,

mot

or &

wat

er f

reig

ht o

arri

ers

QB

st.

frei

ght r

even

ue, m

otor

& w

ater

fre

ight

car

rier

sN

Tot

al f

reig

ht c

arri

ers'

rev

enue

R&

tie, f

reig

ht r

ev.e

to p

urch

ases

of

good

s (%

)B

at.

md.

Cor

p. f

reig

ht c

harg

esE

at, t

his,

Pr.

& P

t, at

al f

reig

ht c

harg

esB

at, f

reig

ht c

harg

es a

bsor

bed

by m

d. C

orp.

Rev

, eat

. Bus

. Pr,

& P

t. et

al f

reig

ht c

harg

esR

ev, e

at. m

d. C

orp.

fre

ight

cha

rges

Let

, tot

al p

urch

ases

of

serv

ices

, Int

l. C

orp.

ZE

at, t

otal

pur

chas

es o

f go

ods,

Int

l. C

orp.

a -

Eat

.om

issi

ons

--

-

bR

ev. .

st.,

tota

l pur

chas

es o

f go

ods

& s

ervi

ces

by le

d. C

orp.

81,4

55(T

oIC

2A)

-

6,13

3(I

C 2

24 D

+ F

+ H

+ K

+ 1

4 +

0+

S +

U +

I +

7)

+(1

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.

Cd

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

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. 249

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II a

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1935

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the

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stat

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el. &

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2,57

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ic U

tiliti

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. 114

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____

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+ 6

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rvey

of

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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

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071

..10

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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,

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dy, p

. 113

.G

Ath

ruG

H

IC

umul

ativ

e of

add

ition

s to

sur

plus

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et. p

d.-i

n ca

pita

l, pr

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ship

equ

ity m

inus

cum

ulat

ed a

dditi

ons

to s

urpl

us s

ince

193

5K

Rev

. eat

. pd.

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Cor

p. (

To

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II h

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ance

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d Pr

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t. pr

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III

i)

34 T

otal

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ds P

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to surplus represent rsported net

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itn

IC 3

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/m

this

case

the figure for 1939 (as well as those

for

prie

r ye

ars)

was

der

ived

by

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ing

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ries

bas

ed o

n da

ta f

rom

Sta

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s of

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eric

an L

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ratio

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ont

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year

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4.g

1940

fro

m th

, sou

rce

cite

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C).

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eefootnote

to I

C 3

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ily a

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pai

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billion.

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r $5

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me

1939

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bl. 3

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O)

Stat

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ted

Cor

p. D

ec. 1

941,

SIC

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. 2, p

. 6,

lines

91, 9

, 94

&95

181

Ibid

., lin

es 1

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07,,

110

& il

l

1UD

min

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xlB+7

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ains

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n) o

f se

curi

ty in

vest

men

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39 v

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Lis

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Cor

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UI

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inus

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C—

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1,4,

054

App

. B, W

orks

hget

a (4

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BC

AxD

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Bas

edon

Am

er. F

ound

atio

ns, G

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Stat

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Cas

h X

nter

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AH

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ovt.

debt

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el,

Dec

. 31

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. on

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et a

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y en

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el (

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IV

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h D

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ml

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atio

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Pt.

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l to

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, Bus

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IV

C)

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& P

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2/Se

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er th

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, whi

ch a

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by a

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son

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med

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y hi

m 'i

n hi

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s co

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sum

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at e

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men

t fun

d ea

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gs d

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ed f

rom

inte

rest

one—

sixt

h of

line

K.

52,7

60P

P11

5 T

who

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mem

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and

incl

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ne H

equ

al

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AT

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reed

. by

employees

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BE

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by

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us.

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etal

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o P&

BIV

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alm

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acto

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IVE

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ax R

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refu

nded

to B

us. P

r. &

Pt.

et a

l

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Pt,

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P&B

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Insu

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l bus

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arm

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s,be

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Pt.

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l by

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x 1

939

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atio

/(T

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B I

V G

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ate

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ities

by:

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d.C

orp.

RB

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trus

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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

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payments

reed

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al

(To

cB I

VH)

VT

otal

Ord

inar

y R

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pts

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IV

J)

2.2

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ence

183

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of

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119

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pd.

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Pt.

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T)

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02 C

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inus

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E

3,31

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refu

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27

Stat,

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e 19

39,Pt. 2, Thl. 3,

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st.a

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valu

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1939

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ght r

atio

see

App

. A 3

x.

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aym

ents

by

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PP]U

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ste

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ustr

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r. &

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x 1

939

ratio

]/

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upII

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extil

e, a

ppar

el,lu

mbe

r, e

tc.

industries, corp.

Bus

. Pr.

& P

t. op

er.

rev.:

Kx

1939

rat

io 2

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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

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nt B

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x (

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urve

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pr.

C(4

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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

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211 N

IC 211

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f ac

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in h

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ay tr

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y ($

)2/

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mpu

tatio

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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

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31, 1

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0

ASSETS, DECEMBER31

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at to

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and

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dem

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ail f

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al (

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5, N

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116

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. of

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me

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orp.

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corp

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17)

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short—term

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3,71

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Pt.

at a

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Notes & aects. reobi. of credit & loan corp. +

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34,

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ins.

agents, realty corp. & lessors

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805

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s Pa

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f do

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em

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for

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in p

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es)

Sour

ce R

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1

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s£

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s. r

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., co

rp. .

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she

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heet

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cor

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., B

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Pt.

to c

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(5)

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., B

us. P

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sub

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. Pr.

& P

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io,o

per.

rev.

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%)

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esti.

reo

bi.,

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& P

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aybi

., B

us. P

r. &

Pt.

Stat

, of

TnA

019

39, P

t. 2,

Thi

. 4m

id.

Ibid

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111

0P_

CE

at, a

s £

xH

.

Eat

, as

B x

I LI

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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.

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1111

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-

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,as

V x

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et, a

s V

x H

U

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ail t

rade

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she

ets

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., co

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she

et. /

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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

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., B

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IE

at,

sect

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., B

us.

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& P

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117,

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5

1,39

31,

856

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(6.

9) 97 130

£ 3 C P. I. F a' H I I I L K I 0 P Q a S..

P U.

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2,/L

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20

and

21 in

the

sour

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3/In

app

lyin

g th

e va

riab

le w

eigh

t rat

io m

etho

d fo

r D

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ber

31, 1

935

thro

ugh

1937

uho

lesa

l. an

d re

tail

trad

e w

ere

com

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d as

a s

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la ts

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, dep

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imite

d—va

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y st

ore

corp

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, 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.

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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.

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g &

als

o. in

dust

ries

: fN

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ti. r

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., co

rp. s

ubai

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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

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r. r

ev.,

prof

essi

ons

& n

onpr

ofit

org.

(ex

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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.

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., ch

arita

ble

org.

-50

649

2E

st. a

s B

x (

50%

)C

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, aec

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. to

opel

, rev

., B

un. P

r. &

Pt.

serv

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.)(

u.6)

PP 3

12 1

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indu

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& n

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ofit

org.

, (%

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io, a

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. pay

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to o

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. rev

., B

us. P

r. &

Pt.

serv

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(14

.)C

13.9

)PP

312

U .

H

indu

stri

es e

xcl.

prof

essi

ons

& n

onpr

ofit

org.

, (%

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Eat

. acc

ts. r

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., 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

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6,31

56,657

(PP 312 V) + (PP 313 F)

HI

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6,724

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W)

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Inte

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Fed.

gov

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igat

ions

hel

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1

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pts

(mill

ions

of

dolla

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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

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al h

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grad

e bo

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()

FE

at, c

ash

jut,

reed

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sta

te, c

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ity o

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ther

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:0

Fed.

Gov

t. ob

ligat

ions

hel

d by

St.

& L

. Gov

t., J

e. 3

0H

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, oth

er m

v. h

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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

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r in

v.B

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al, c

ash

jut.

reed

.by

St.

& L

. Gov

t. (T

o B

TI

A)

L G

ross

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ts (

To

B V

I B

)-

i/Sta

te g

ovt.

hold

ings

of

Fed.

& S

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L. G

ovt.

oblig

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ns,

191,

1(c

xci.

unem

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men

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pens

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n fu

nds)

Hol

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s by

92

citie

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Fed

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oblig

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941

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Fed

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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

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illio

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9, T

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51)

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1939

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193

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Tb)

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estim

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sal

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mill

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sou

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cite

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foo

tnot

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).It

was

est

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at I

ndus

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pora

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pai

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5 m

illio

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r al

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ever

age

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9),

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Fina

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1939,

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Ope

r. r

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corp

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ooi,

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432,

731

272

Fina

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, of

States

1939

,su

rvey

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Cur

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pr.

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1946,

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C)

D

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toall forms of bus. ($)

39 427

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Financial Stat, of States

1939

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govt

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164

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0.

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63 16 16 16

Fina

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s Q

(25%

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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

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to O

rdin

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Rec

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ce R

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etc

..-

____

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fees

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., C

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29A

pp. B

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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

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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

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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

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(1fl

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G+

H)

Stat

e an

d. L

ocal

Gov

ernm

ents

—Lc

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10 3

01(m

illio

ns o

fdollars)

Socaoe

Ref

eren

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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

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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

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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

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of d

olla

rs e

xcep

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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.,

Dec

. 31

/F

Tin

e de

posi

ts, a

ll co

me.

bks

., D

ec. 3

10

R&

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oin

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ll bk

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ual s

vga.

bks

., D

ec. 3

1}(

Tim

e de

posi

ts, a

ll m

utua

l svg

a. b

ka.,

Dec

. 31

NR

atio

, tim

e de

posi

ts, a

ll m

utua

l svg

s. b

ks. t

oin

s, m

utua

l svg

a. b

ka. (

5)o

Eat

. 5nt

. pd.

on

borr

owin

gs, d

epos

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apita

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es,

etc.

, all

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ual s

vga.

bks

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mt.

& d

lv. p

d., P

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]. S

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Sys

t., F

. V.

mt.

& d

iv. p

d., P

asta

]. S

vga.

Sya

t., C

. V.

Tot

al m

t. pd

., B

ks. &

U. S

. )4n

. Fun

ds (

To

P&B

VII

L)

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ea R

ents

8.R

ents

pd.

, oor

p. b

ks. &

trus

t oos

. (T

o P&

B V

II K

)

Sour

ce R

efer

ence

507

Surv

ey o

f C

urre

nt &

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ese

Je. 1

945.

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of C

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BK

201

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d.Rca., Ann. Report

1939

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BFed. Deposit Ins.. Corp., Ann. Report

CD

Fed.

Dep

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Ins.

Cor

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nn. R

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t 191

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hl. 1

39Ib

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mid

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4E

xI31

Fed. Res., Ann. Report

1939

,Tbl. 5

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id.

566

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47B

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2, T

bl. 3

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VII

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U

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3 8+

0+

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ix:

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015

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940,

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/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

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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

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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

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yrol

l tax

es p

d. b

y em

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ers

to ta

xabl

e pa

yrol

l (%

)H

Payr

oll t

axes

, All

Ins.

Car

rier

s-

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& L

. Gov

t. T

axes

IB

us, l

icen

se ta

xes

pd. b

y A

ll In

s. C

arri

ers

JE

at, s

ales

taxe

s pd

. by

All

Ins.

Car

rier

sK

Tot

al S

t. &

L. G

ovt.

taxe

s pd

. by

All

Ins.

Car

rier

sL

Eat

, pro

pert

y ta

xes,

etc

. pd.

by

All-

Ins.

Car

rier

s

-T

otal

Tax

es14

Tot

al ta

xes.

pd.

by

All

The

. Car

rier

sN

Tot

al-

taxe

s, in

s., l

icen

ses

& f

ees

p. b

yLi

feIn

s. C

os.

OE

at, i

ns. i

nol.

in li

ne N

-

PE

at, t

otal

taxe

s pd

. by

Lif

e In

s. C

os. (

To

LI

202

K)

QE

at, t

otal

taxe

s pd

. by

Oth

er I

ns. C

arri

ers

(To

01 2

03 C

)

Sour

ce R

efer

ence

1511

10-

A

860

Stat

, of

Inco

me

1938

, Pt.

2,T

hi.

2B

•27

(3.1

4)Ib

id.

-

CB

C D38

Eat

.aal

xD-

Z

664

(3.6

6)01

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7415

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237

E+

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L-

M

135

The

Spe

ctat

or L

ife

Ins.

Vol

.19

40,

p. -

]36

A-

N

4E

at. a

aNx(

3%)

--

013

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min

us0

p10

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e In

sura

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d V

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d D

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o.B

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770

929

The

Spectator,

Lif

e In

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1940,

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(&

1939)

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s &

see

, hel

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s. C

os./

23,7

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ther

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19,0

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B minus C

D

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(To

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-24

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Valuation

Gai

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Net

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69-

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ns. R

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. I 1

940,

p.

125a

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ook

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137

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et in

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se I

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stoc

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-68

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N.

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ns. R

epor

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Net

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of s

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—78

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all L

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ass

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to N

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epor

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B V

III

•

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asse

ts,

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(1.

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the

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nce

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Y. I

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1940

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9.Ib

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tat.

Abstract

1941

, Thl

. 345

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et. a

s C

xF

N.

V. I

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.II

1940

, p. 4

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Stat

.Abstract 1945,

Thl

. 40d

J I

Kit,

as H

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N, V

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ol.

III 1940, p.

llbIb

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ife

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the y-

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--

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to N

. V. I

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t 2J

0K

it. ju

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& r

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, all

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96 72 51 862

1,19

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'Inan

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of

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atio

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as

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Pens

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1940

, p. 7

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r $9

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illio

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n.e

.c.

are

chie

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title

and

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stitu

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he w

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sto

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stim

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m c

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other

fina

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l sta

tem

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tem

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r th

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e de

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om c

rude

193

9 es

timat

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The

re w

ere

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e pr

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ases

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ploy

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arr

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g at

thes

e cr

ude

1939

fig

ures

:(a

) th

e fi

gure

s fo

x' to

tal

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ts a

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rem

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s pl

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s sh

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e 19

39 N

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Insu

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. III

,(b

) a

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alys

is o

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Stat

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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

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193

9 w

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pp. A

3x,

classification,

Sec

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irms

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al-

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SR 204

(mill

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figu

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in parentheses)

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1939

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or a

list

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of th

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grou

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clud

ed in

this

cla

ssif

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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%)

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A+B+D+E

(sit

203

Q +

ti) m

inus

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(SR

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35) x (SR 204 H)

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N N 0 I'

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10,234

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Secu

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end

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al —

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to O

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Exp

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s5R

211

Inst

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to C

ontr

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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

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ts to

Con

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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

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a/c

non

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, non

farm

427

mid

.c

•bu

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pair

sE

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ts to

con

trac

tors

by

Sec.

& R

. Fir

ms

et a

l a/c

eD

New

com

a., s

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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

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to c

ontr

acto

rs, S

ec. &

R..

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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

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•

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Secu

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and

Rea

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ary

Exp

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sSp

ent b

y Se

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Fir

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l as

Cus

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(mill

ions

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rs)

Purc

hase

s of

Goo

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f su

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s, e

tc. u

sed:

APa

yrol

l, Se

c. &

R. F

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s et

al

BN

et o

wne

r ta

keou

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R. F

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CE

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oat o

f su

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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

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ancy

HSe

e. &

R. F

irm

a in

stal

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ts to

con

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tors

for

new

rae

. con

str.

FE

at. f

orce

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t, w

ork

& d

eale

r &

mfr

. Ins

talla

tions

a/c

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GE

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asea

of

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s by

Sec

. & R

. Fir

ms

et s

i a/c

new

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. 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

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hrd

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hase

sof

con

saer

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Tot

al p

urch

ases

of

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s by

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. & 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.

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& 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.

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. coa

t of

adve

rt-i

eing

-a...

c., S

ec. &

R. F

irm

a at

el

P'of

essi

onal

aer

vice

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Gro

ss in

com

e of

eng

inee

ring

& o

ther

pro

fess

iona

l ser

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. Sec

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ms

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l exp

d. f

or p

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ces

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ther

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er d

educ

tions

, cre

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cor

p. /

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et. S

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al e

xpd.

on

othe

r se

rvic

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Tot

al p

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ases

of

good

s &

ser

vice

s, S

ec. &

H. ?

izs

at a

l (ex

ci. o

mis

sion

s)K

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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

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1QSR

211R

.DH

490

367

Est

.asD

min

usE

Eat

, as

P x

(75%

)--

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91?

SR2l

lS.

H49

941

815

752

4

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, asH

x (

544%

)E

st,a

sHm

inus

lE

at, a

s Jx

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.5%

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+K

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I j K L

432

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22E

at. a

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5%)

T

244

Stat

, of

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me

1939

, Pt.

2, T

bl. 3

, Pt.

I U

122

Eat

, as

U x

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%)

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2,33

0 702,

400

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ce R

efer

ence

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1,31

4R

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130

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clas

sifi

catio

n,

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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

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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

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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

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37,4

5636

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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

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ref

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from

cus

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otal

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106.

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ce R

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ence

367

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ey o

f C

urre

ntBusiness,

.Iy.

1947

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i,,A

ml.

2 m

inua

.Tbl

. 31

r/12

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l. 31

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mid

.(G

NP

117

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GN

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min

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f C

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nt B

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194

7 Su

ppl.,

Thl

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Ibid

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%)

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1947

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l.,T

bl.

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f C

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Jy.

1947

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i.,m

l.33

Q

K+

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342

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1B-

•

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stri

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171

248

254

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106

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stri

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dollars)

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July

1947

Snsmlemqt)

are

used

her

e, a

lthou

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arlie

r es

timat

es w

ere

the

basi

s of

the

figu

res

in th

e St

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of

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and

'bal

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s,T

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ofthe

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s is

the

tren

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GN

P 10

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e A

abo

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s a

new

con

stru

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n ex

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.It

is b

elie

ved

that

this

item

is in

clud

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the

estim

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of

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nd B

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hips

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the

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t gre

atly

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acl

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at a

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govt. i.irchases mci. In expd. by Bus. Pr. & Pt.. at al.

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otal

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. for

pro

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ange

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al. G

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., B

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Tot

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pts.

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y. 1

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i., T

hi. 3

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os 0 x (50%)

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Bus

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)

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Jy..1947 Suppi., Thl. 32

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1947 Suppl.,

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.ix

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57

PP 101 M

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To

Tbl

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footnotes

see

GN

P 11

2.

Sour

ce R

efer

ence

App

'. B

, Wor

kshe

et A

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A +

BA

pp. B

, Wor

kshe

et A

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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

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pp. B

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pp. B

, Inc

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n W

orks

heet

E—

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163

min

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5,14

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413

App

. B, W

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hots

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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

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inus

L-

H

BT

otal

ordi

nary

rec

eipt

s7,

899

(GN

P U

.]. V

)+

(GN

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2 L

) cf

. Tbl

. 19

C.

S

T T

otal

ord

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- ex

pd.

10,2

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B?

111

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ci)

+(G

NP

112

Q)

ef.

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. 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

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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

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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

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a/c

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Gross

cash

pay

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ent b

y St

. & L

. Gov

t •as

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omer

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ss r

ents

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ata)

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s to

con

trac

tors

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otal

of

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pd.

Ded

uctio

n of

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l pro

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d,F

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es &

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arie

s, p

ublic

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ent

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ises

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t by

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ic s

ervi

ce e

nter

pris

es, a

scustomers

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ded

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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

)

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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

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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

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inua

PH Q

+ H

4,16

82,

781

1,52

58,

488

A B.

C D g 1' 0 H I

202

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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+

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7,62

6(t

O 1

02 0

) m

inus

(G

M?

US

F).

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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

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inar

yT

rans

actio

nsst

ate

and

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al G

over

tent

s (C

ontin

u.d)

(nilh

iona

of

dolla

rs)

GN

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35

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nsfe

rPa

sent

eT

rans

fer

rece

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:a

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pre

mim

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7

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rty

taxa

s, e

tc. o

oile

oted

fro

m im

by:

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& L

. Gov

t.C

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pro

pert

y ta

x..)

BR

eal p

rope

rty

taxe

s co

llect

ed f

rom

HH

by

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L. G

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VA

ll ta

xes

colle

cted

fro

m F

iN b

y St

. & 1

$. G

ovt.

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/46

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571.

NT

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0 1b

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78

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13.

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8

a 'B C 'V I F 11 N 0

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Oth

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nsac

tions

Product receipts:

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tnt.

3G

ross

ren

tsK

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eipt

s fr

omcuatomere

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otal

pro

duct

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and

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er O

rdin

ary

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nsac

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ks a

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. S. )

bnet

ary

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illio

ns o

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)

49

17,6

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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

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P 11

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K L 11 N 0 P Q a T

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xoen

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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

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k fr

om d

omes

tic g

old

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uctio

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intperohases of silver

-

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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

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:-

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ks.& U. S. )n. Panda as customers

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cash

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non

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nsac

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ks a

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. S. )

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of

dolla

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rces

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ases

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8 D

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p)a

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187

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2038

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a H I

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Transfer receipts:

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GNP Expenditaires

and

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24

A I + S

(LI 102 K) +

(or

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9

£ B C a B F, a I 3 K L N N 0 P Q R S -T.

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transfer oaymeta

Net transfer receipts (To Thl. 33 B, line U)

6,25

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4,649

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187

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as

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380 4

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246

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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

Stat

e &

Loc

alGoverhmenta

riks

& U

. S. 3

4roe

tary

Fun

dsPr

ivat

e In

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rier

s

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3,3 .1

3.3

3.8 .1 3.5

3.9 .1 3.5

3.9

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6

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3.9 .1

3.8

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orld

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al-

.3 ,/17

.6

.6 J17

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-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