Source: Friedrich A. Lutz, Corporate Cash Balances 1914-1943, Manufacturing And Trade (1945), P. 115.
This NBER data series a12039 appears on the NBER website in Chapter 12 at http://www.nber.org/databases/macrohistory/contents/chapter12.html.
NBER Indicator: a12039
Release: NBER Macrohistory Database
National Bureau of Economic Research, Cash Payments For Operating Expenditures for United States [A12039USA144NNBR], retrieved from FRED, Federal Reserve Bank of St. Louis https://research.stlouisfed.org/fred2/series/A12039USA144NNBR/, August 3, 2015.