Monthly Review of Credit and Business Conditions* 1924 ACCEPTANCES Outstanding, February 3 ADVERTISING January 6 AUTOMOBIIJSS (see Uotor vehicles) BANKING CONDITIONS Monthly beginning January - 2 BUILDING Monthly beginning January 5 BUSINESS ACTIVITy Monthly beginning January ---------------------------- 5 BUSINESS CONDITIONS Monthly beginning January Business over fifty years as reflected in bank clearings, May - - 8 BUSINESS FRO FITS IN 1923 Mar«h & CANADA Canadian financing abroad and in Canada, March 4 CHAIN STORE SALES Monthly beginning January (except February) 7 CLEARINGS Business activity over 50 years as reflected in bank clearing, CROPS August, September, October - -----f DEPARTMENT STORES Department store business, Monthly beginning January.««. T Department store sales since 1900, December 9 DEPOSITS Velocity of bank deposits, March 2 Savings bank deposits, March, September - 3 Changes in ft amber bank deposits, April 2 EMPLOYMENT Monthly beginning January 4 FEDERAL RESERVE BANK OF NEW YORK Operations in 1923, February - 8 FOREIGN EXCHANGE Monthly beginning January 3
- 2 - Index to Monthly Review, e t c - 1924 FOREIGN TRADE Monthly beginning January - - - - - - - - - - - - - - - - - - - - 3 GENERAL PRICE LEVEL INDEX A pril - - - - - - - - 8 GOLD Movements, Monthly beginning J anuary - - - - - - - - - - - - - - - T 3 GOVERNMENT DEBT August - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 4 INTEREST RATES Monthly beginning J anuary - - - - - - - - - - - - - - - - - - - - 2 MONEY SHIPMENTS Pbreign shipments o f United States cu rren cy, Monthly beginning February (excep t March, May, November) - - - - - - - - - - - - - 3 MOTOR VEHICLES Production and s a le s, April - - - - - - - - - - - - - - - - - - - - - 5 PRICES January, p - 3; Pbbruary» p. 5; June, p. 4 ; August, p» 7; September, p.7; October, p - 7. PRODUCTION Monthly beginning January - - - - - - - - - - - - - - - - - - - - - - 5 RAILROADS Equipment purchases, A p ril 6 REAL ESTATE Real estate and r e n t s» April - - - - - - - - - - - - - - - - - - - - 6 RENT Real estate and r e n t s, April - - - - - - - - - - - - - - - - - - - - 6 Apartment rents, November - - - - - - - - - - - - - - - - - - - - - - 7 ROAD BUILDING November - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 7 SECURITIES Security markets, Monthly beginning January - - - - - - - - - - - - - 3 SILVER S ilver exports, September - - - - - - - - - - - - - - - - - - - - - - 5 WAGES Monthly beginning January - - 4 WHOLES A. LE TRADE' Monthly beginning January 6 m m s. ADVERTISING Newspaper and magazine, compared with computed trend. 1919 1923. January - - -
Index to Monthly Review, e t c. 1924. BANK DEBITS Factory employment in New York state and average d aily figures for bank debits outside o f New York c it y, t o ta l ca r- loadin gs, and sales o f wholesale dealers in Second D is trict compared by months for 1923 and 1924. November - - - - - - 5 BONDS Average monthly p rice o f 40 m iscellaneous bonds and o f the Fourth Liberty 4 *s«1912-1924. July - - - - - ----------- - 4 BORROWINGS Daily borrowings by p rin cip al New York c ity member banks from Federal Reserve Bank, and rates for commercial paper and c a ll loan renewals, Jan. - July, 1924. August - - - - - - 3 BUILDING Value o f building contracts awarded in New York sta te and Northern New Jersey and in a ll other Northwestern sta te s, in f ir s t 11 months o f the years 1919 to 1924. January, p*5; May,p.6. Volume o f building and production o f pig iron. 1919-1924,A p ril - 6 Monthly average o f bu ildin g contracts for f ir s t..five months o f 1923-1924. July - - - - - - - - - - - - - - - - - - - - - 6 Value o f b u ild in g con tra cts awarded in 36 sta tes and in New York state and Northern New Jersey, 1923-1924. September - - - - 5 BUSINESS ACTIVITY Monthly changes in indexes o f d is tr ib u tio n and general business a c t iv it y, May - - - - - - - - - - - - - - - - - - - - - - - 5 Business a c tiv it y over 50 years as re fle cte d in bank clearings outside New York c it y, 1875-1924. May - - - - - - - - - - - 8 CANADIAN BONDS Sales in Canada, United Kingdom and United States by years, 1910 to 1923. March - - - - - - - - - - - - - - - - - - - - - - 4 CAPITAL ISSUES (see Securities) CAR LOADINGS Wholesale trade in the Second Federal Reserve D is tr ic t and carloadings o f merchandise and m iscellaneous fr e ig h t, 1919-1923. February - - - - - - - - - - - - - - - - - - - - - - 6 Factory employment in New York s ta te and average d a ily fig u res fo r bank debits outside o f New York c it y, t o ta l car-loadin gs, and' sales o f wholesale dealers in the S econ d.d istrict, compared by months for 1923 and 1924. November - - - - - - 5 CEMENT Average d a ily consumption o f cotton and production o f p ig ir o n, automobiles, and cement, by months for 1923 and 1924, compared*. November - - - - - - - - - - - - - - - - - - - - - -------- - - 4 CHAIN STORES Monthly sa le s o f department sto re s in the Second Federal Reserve d is t r ic t and sales o f chain s to re s, 1919-1924. June - - - - 8 CLEARINGS Business a c tiv it y over 50 years as re fle cte d in bank clearings outside New York c it y, 1875 to 1924. May - - - - - - - - - 8 COMMERCIAL PAPER Outstanding - 26 d ealers, 1918-1924. March - - - - - - - - - - - 3
4 Index t o Monthly Review, etc* 1924 COMMERCIAL PAPER (continued) Daily borrowings by p rin cip a l New York c it y member banks from Federal Reserve Bank, and rates fo r commercial paper and c a l l loan renewals. January-July, 1924* August - - - - - - - - - 3 CONCRETE Contracts awarded fo r con crete highway con stru ction in the United States by months, 1919-1924* November - - - - - - - - - - 7 CORN Average p rice s at Chicago of wheat (no* 2 red w inter) and corn (no* 3 mixed y ellow.) 1914-1924* August - - - - - - - - - - 7 COTTCN Average d aily consumption of cotton and production of pig iron, automobiles and cement, by months fo r 1923 and 1924 compared. November - - - - - - - - - - - - - - - - - - - - - - - 4 CREDIT Bank cre d it, 800 member banks in leading c it ie s, 1919-1923* January - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 2 Member bank cre d it - weekly figures - 1 0 1 leading c it ie s, 1919-1924. February, March, May, November, December - - - - - - - 2 Reserve bank c r e d it ** 12 Federal Reserve banks, weekly fig u re s, 1919-1924* February, March, A pril, June, August, October - - - - 2 Member bank cred it in Second Federal Reserve d is t r ic t - weekly figures fo r 1CB banks in 8 leading c it ie s, 1919-1924* July» - - 3 750 member banks in 101 leading c i t i e s, 1919-1924* July, Sept. - - - - 2 CROPS Estimated value of p rin cip a l 1924 crops at July 15 p rices at the farm compared with December 1 value of crops harvested in 1921, 1922, 1923* September - - - - - - - - - - - - - - - - - - - 7 DEPARTMENT STORES. Sales and stocks o f department stores in Second d i s t r i c t, 1919-1923* January -------------------------- 7 Sales o f department stores in the Second Federal Reserve d i s t r i c t and mail order houses, 1919-1923. February - - - - - - - - - - - 7 Monthly sa le s o f wholesale dealers and department sto re s in the Second Federal Reserve d is t r ic t, 1919-1923. March, July - - - - -? Department sto re sa les - index of sa les of 333 sto re s in 117 c i t i e s, 1919-1924* May, October - - - - - - - - - - - - - - - - - - - - - 2 Monthly sa les of department sto re s in the Second Federal Reserve d is t r ic t and sales of chain stores, 1919-1924* June - - - - - - - 8 Sales and stocks on hand, 1923 compared with 1924* August, October - - 8 Monthly percentages of outstanding orders to to ta l purchases in previous year of representative department stores in the Second D is tr ict, 1921-1924* August, September - - - - - - - - - - 8 Annual sales of selected department stores in New York and nearby c it ie s, 1900-1924, compared with growth of New York c it y population and sa les of 64 stores from 1919-1924. December - - - 8
Index to Monthly Review, e t c - 5-1924 DEPOSITS Rate o f turnover o f bank deposits in New York c it y, a selected c it ie s, and 141 c it ie s before and a fter allowance fo r seasonal v a ria tio n s, 1919-19 24, March - - ------- - - - - - - 3 Monetary stock o f gold in the United States and t o ta l o f demand, time and government deposits o f a ll nation al banks, 1914-1924* March - - - - - - - - - - - - - - - - - - - - - - - - - 5 D eposits o f 15 savings banks in New York c i t y and the Second d is t r ic t outside New York city * 1918-1924* March, S e p t.- - - 3 Demand and time deposits o f a ll member banks, 1919-1924* A p r il- - 3 EARNING ASSETS A ll Federal Reserve banks, 1922-1923* January ---------------------------- 8 T o ta l, Federal Reserve Bank o f New Yor*% by days, Dec* 1, 1923 to January 24, 1924, inclusive* February - - - - - - - - - - 3 EARNINGS Changes in average weekly earnings o f factory operatives and factory o f f i c e workers in New York state and the cost o f liv in g in the United States, 1914-1923* January - - - - - - - 4 Changes in employment, in t o t a l wage payments, and average weekly mage earnings in New York state fa c to r ie s, 1918-1924# July 7 EMPLOYMENT Factory employment in the United States and New York sta te by in d u stries, 1919-1923. January - - - - - - - - - - - - - - - 4 Index o f employment in manufacturing in d u s trie s, 1919-1924* January, A p r il, June, July, August, September, November, December - - - - - - - - - - - - - - - - - - - - - - - - - - - 2 Changes in employment, in t o t a l wage payments, and average weekly wage earnings in New York state fa cto rie s, 1913-1924* July, p.7 ; December, p. 6. Factory employment in New York state and average d a ily figures for bank debits outside New York c ity, t o t a l car loadings, and sales o f wholesale dealers in Second d is t r ic t, compared by months, for 1923 and 1924* November - - - - - - - - - - - 5 FOREIGN EXCHANGES Depreciation from par value, 1919-1924* February, July - - - - - 4 Foreign exchange ra tes in p er cent d ep recia tion from par in November, 1924, November, 1923, and at the 1920-1924 low points compared. December - - - - - - - - - - - - - - - - - 4 FREIGHT CARS Domestic purchases, 1922-1924* A pril - - - - - - - - - - - - - 6 GENERAL PRICE LEVEL INDEX An index o f the general p r ic e le v e l compared with wholesale p rice s and wages, 1875-1924* A pril - - ------- --- ------- ---------- --- ------- 8 GOLD Monetary stock o f gold in the United States and to ta l o f demand, tim e, and government deposits o f a ll nation al banks, 1914-1924* March - - - ----------------------------------------------------------- - - - 5 United States net imports and exports o f g o ld, 1914-1924* June, December - - - - - - - - - - - - - - - - - - - - - - - - - - 4
-6 - Index t o Monthly Review, e t c. 1924. HOUSING Columns of "Apartments For rent" a dvertisin g in the Sunday e d itio n of a New York newspaper during the renting seasons of 1922-1924. November - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 7 INTEREST RATES Open market rates fo r prime commercial paper and bankers acceptances, and discount ra te of the Federal Reserve Bank of New York# 1914-1924. June -... - - ----------------------- ------------- 3.Money rates - New York and London, 1922-1924. July, November - - - - - 3 Daily borrowings by p rin cip a l New York c ity member banks from Federal Reserve bank, and ra tes f o r commercial paper and c a l l loan renewals* January-July, 1924. August - - - - - - - - - - - 3 C a ll loan renewal ra te s, open market ra tes f o r 4-6 months comm ercial paperaad 90-day bankers acceptances, and the Federal Reserve Bank red iscou n t ra te by weeks, 1922-1924* December - - - 3 LOANS Loans la r g e ly f o r commercial purposes and t o t a l investments of rep ortin g member banks, New York and United States, 1921-1924. February, June - - - - - - - - - - - - - - - - - - - - - - - - - - 2 Loans la rg ely fo r commercial purposes of a ll weekly reporting member banks compared with weekly rates fo r prime commercial paper, and 4-6 months c e r t ific a t e s, 1922-1924. May - ----- - - - ----- - - - - - 3 Total loans and investments and t o ta l deposits of 750 reporting member banks in p rin cip a l c it ie s of the United States and of 67 reporting member banks in New York c it y. 1924. September - - - - - - - - - 2 Total loans and investments and t o ta l deposits of 636 reporting member banks in p rin cip a l c it ie s outside the Second d is t r ic t, and of 108 reporting member banks in the Second d is trict* 1924* November, December - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 2 MAIL ORDER BUSINESS Sales o f department sto re s in the Second Federal Reserve d i s t r i c t and mail order houses, 1919-1923* February - - - - - - - - - - - - - 7 MOTOR VEHICLES Monthly production of motor v e h ic le s in the United S tates, 1911-1924. A p ril ---------------------------- --- - -------------------------------------- 5 Average d a lly consumption of co tto n, and production of p ig iro n, autom obiles and cement by months, fo r 1923 and 1924, compared. November 4 PIG IRCN Volume of bu ildin g and production of pig iron, 1919-1924.' A pril - - - 6 Average d a ily consumption of cotton, and production of p ig iro n, autom obiles, and cement by months, fo r 1923 and 1924 compared* November ------ ------- ------- --- ------- 4 PRICES Index of United States Bureau of labor s t a t is t ic s, 1919-1924. Monthly beginning January - - - - - - - - - - - - - - - - - - - - 1 P rice indexes o f 2 0 b a sic commodities in the United States and England. July, 1922-1924* January, p*3; June, p.5; October, p*7*
- 7 - Index t o Monthly Review, e t c. 1924. PRICES (continued) An index of the general p rice le v e l compared with wholesale p rice s and wages, 1875-1924. April - - - - - - - - - - - - - - - - - - - 8 Monthly changes in production and p rice s o f b a sic commodities, 1919-1924. M a y ----------- ----------------------------------------------- ------------------------ 4 PRODUCTION Index of 22 b a sic commodities, 1919-1924. Monthly beginning January - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 1 Production of b a sic commodities during January and February of 1924. A pril - - - - - - - - - - - - - - - - - - - - - - - - - - - 5 Monthly changes in production and p rice s of b a sic commodities, 1919-1924. I s a y...... 4 Monthly production in b a sic in d u s trie s, 1918-1924. July, October - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 5 PR (FIT Annual net p r o f it s of 203 manufacturing, merchandising, and p u b lic service concerns and of cla ss 1 ra ilroa d s, 1919-1923. March - - - 8 RENT Rents of apartments in New York c i t y compared with changes in the co st of building construction, 1917-1924. November - - - - - - - 7 RESERVES Average weekly excess reserves at New York c it y clearin g house banks and open market rates fo r 4-6 months commercial paper and 90 day b i l l s. 1924. October -------------------------------------------------- - 2 SECURITIES Par value of foreign ca p ita l issues offered in New York and London by s ix month periods in m illio n s by d o lla r s, 1921-1924. August - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 4 Holdings of United States bonds and short term c e r t ific a t e s and notes of 750 reporting member banks in p rin cip a l c it ie s throughout the country, 1919-1924. September - - - - - - - - - - 4 New idsues of domestic corporation se cu ritie s, exclusive of refunding issu es, 1919-1924. October - - - - - - - - - - - - - - 3 Number o f foreign government, sta te, and municipal issues traded in on the New York Stock Exchange each year, 1904-1924. November - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 3 Average p rices of 50 stock s, both railway and in d u stria l, and 40 bonds, and number o? shares sold on the New York Stock Exchange by months, 1916-1924. December - - - - - - - - - - - - - 3 TRADE Merchandise exports and imports of the United S tates, 1919-1924. March 5 Monthly imports and exports of merchandise o f the United States, 1915-1924. September - - - - - - - - - - - - - - - - - - - - - - 5 WAGES Wages of unskilled labor compared with p rices of basic commodities 1916-1924. May, August, November - - - - - - - - - - - - - - - - 6 Changes in employment, in t o t a l wage payments and average weekly wage earnings in New York sta te f a c t o r ie s, 1918-1924. July - - - 7
- 8 - Index t o Monthly Review, etc 1924 WHEAT Average p rice s at Chicago of wheat (n o. 2 red w inter) and corn (no. 3 nixed yellow ), 1914-1924. August - - - - - - - - - - - - Exports of wheat and wheat flo u r of p r in c ip a l wheat exporting co u n trie s, 1909-1913 average, 1914-1923. October - - - - - - - R eceipts of wheat, corn and oats at 14 in t e r io r markets between July 1 and November 1 of seven years, 1918-1924. December - - - VHCLESALE TRADE Wholesale trade in Second Federal Reserve d i s t r i c t and car loadings of merchandise and miscellaneous fre ig h t, 1919-1923. February - - - - - - - - - - - - - - - - - - - - - - - - - - - - Monthly sa les of wholesale dealers and department sto re s in Second Federal Reserve d is t r ic t, 1919-1923. March, July - - - - Monthly sa les of rep resen ta tive wholesale dealers in the Second Federal Reserve d is t r ic t,, 1919-1924. June - - - - - - - - - - - Factory employment in New York state and average d aily figu res fo r bank debits outside of New York c it y, t o ta l car loadings and sales of wholesale dealers in Second d is t r ic t, compared by months fo r 1923 and 1924. November - - - - - - - - - - - - - 7 4 5 6 7 7 5