No. 714. INDUSTRIAL AND COMMERCIAL FAILURES-NUMBER AND LIABILITIES: 1921 TO 1966

[Excludes Alaska and Hawaii. Excludes all railroad failures. Beginning 1933, excludes real estate and financial companies. Beginning 1939, includes voluntary discontinuances with loss to creditors and small concerns forced out of business with insufficient assets to cover all claims. See also Historical Statistics, Colonial Times to 1957, series V 1-3]

1 Annual data represent number of names listed in July issue of Dun & Bradstreet Reference Book; monthly data are listings in edition published in specified month. See table 716 for class of industries covered.

Includes concerns discontinuing following assignment, voluntary or involuntary petition in bankruptcy, attachment, execution, foreclosure, etc.; voluntary withdrawals from business with known loss to creditors; also enterprises involved in court action, such as receivership, and, since June 1934, reorganization or arrangement which may or may not lead to discontinuance; and businesses making voluntary compromise with creditors out of court.

Liabilities exclude long-term publicly held obligations; offsetting assets are not taken into account. Monthly data represent annual rate at which business concerns would fail if number of concerns and failures listed in that month prevailed for entire year. Adjustments have been made for seasonal fluctuations. Source: Dun & Bradstreet, Inc., New York, N.Y.; The Failure Record Through 1965, and unpublished data.

No. 715. INDUSTRIAL AND COMMERCIAL FAILURES-PERCENT DISTRIBUTION, BY MAJOR INDUSTRY GROUP AND YEARS IN BUSINESS: 1956 TO 1966

Source: Dun & Bradstreet, Inc., New York, N.Y.; The Failure Record Through 1965, and unpublished data.

No. 716. INDUSTRIAL AND COMMERCIAL FAILURES-NUMBER AND LIABILITIES, BY INDUSTRY AND SIZE OF LIABILITY: 1955 TO 1966

[Liabilities in thousands of dollars. Excludes Alaska and Hawaii. See footnotes 2 and 3, table 714]

Source: Dun & Bradstreet. Inc., New York, N.Y.; The Failure Record Through 1965, and unpublished data.

247 079 O-67-33

No. 704. NET CHANGE IN BUSINESS INVENTORIES: 1940 TO 1966

[In millions of dollars. Prior to 1960, excludes Alaska and Hawaii. Measures change in physical inventories, valued at average prices current during year. Difference between change in business inventories as thus measured and change in book value of inventories constitutes inventory valuation adjustment]

Source: Dept. of Commerce, Office of Business Economics; The National Income and Product Accounts of the United States, 1929-1965 and Survey of Current Business, July 1967.

No. 705. USES AND SOURCES OF FUNDS, NONFARM NONFINANCIAL CORPORATE BUSINESS: 1950 TO 1966

[In billions of dollars. Minus sign (—) indicates a reduction in assets or liabilities. "N.e.c." means not elsewhere.

Source: Board of Governors of the Federal Reserve System and Dept. of Commerce, Office of Business Economics; Survey of Current Business, February 1967 and May 1967.

No. 706. GROSS PRIVATE DOMESTIC INVESTMENT AND ITS COMPONENTS: 1950 TO 1966

[In billions of dollars. Prior to 1960, excludes Alaska and Hawaii. Consist of net acquisitions of fixed capital goods by private business and nonprofit institutions; including commissions arising in sale and purchase of new and existing fixed assets, principally real estate; and value of change in volume of inventories held by business. Covers all private dwellings, including those acquired by persons for their own occupancy]

1 Items for nonfarm producers' structures and equipment are not comparable with those shown in table 707 principally because the latter exclude investment by real estate industry, nonprofit organizations, and professional persons.

2 Total producers' durable equipment less farmers' purchases of equipment, including business motor vehicles. Farm nonresidential structures plus farmers' purchases of equipment, including business motor vehicles. See footnote 2. After inventory valuation adjustment.

Source: Dept. of Commerce, Office of Business Economics; Survey of Current Business, and unpublished data.

No. 707. BUSINESS EXPENDITURES FOR NEW PLANT AND EQUIPMENT: 1945 TO 1967 [In billions of dollars. Excludes Alaska and Hawaii. Excludes expenditures of agricultural business and outlays charged to current account]

1 Estimates based on anticipated capital expenditures as reported by business in February 1967. Comprises fabricated metal products, lumber products, furniture and fixtures, instruments, ordnance, and

miscellaneous manufactures.

Comprises apparel and related products, tobacco, leather and leather products, and printing and publishing. Comprises trade service, finance, and construction.

Source: Dept. of Commerce, Office of Business Economics, and Securities and Exchange Commission; in Survey of Current Business.

No. 708. BUSINESS EXPENDITURES FOR NEW PLANT AND EQUIPMENT, QUARTERLY TOTALS AT ANNUAL RATES: 1965 TO 1967

[In billions of dollars. Excludes Alaska and Hawaii. Seasonally adjusted. See headnote, table 707]

1 See footnote 1, table 707. 2 Comprises trade, service, finance, construction, and communication. Source: Dept. of Commerce, Office of Business Economics, and Securities and Exchange Commission; in Survey of Current Business.

No. 709. MERGERS AND ACQUISITIONS-MANUFACTURING AND MINING CONCERNS ACQUIRED: 1920 TO 1966

[Total limited to actions reported by Moody's Investors Service and Standard and Poor's Corporation. Many smaller acquisitions are not reported in these sources. Includes partial acquisitions when they comprise whole divisions of other companies. See also Historical Statistics, Colonial Times to 1957, series V 30]

1 Includes all concerns with assets of $10 million and over.

Source: Federal Trade Commission; Report on Corporate Mergers and Acquisitions, 1955, and news release, February 24, 1967.

No. 710.

MERGERS AND ACQUISITIONS-MANUFACTURING AND MINING CONCERNS ACQUIRED, BY INDUSTRY GROUP OF ACQUIRING CONCERN: 1948 TO 1966

Source: Federal Trade Commission; Report on Corporate Mergers and Acquisitions, 1955, and news releases.