TEXAS BUSINESS REVIEW 

A Monthly Summary of Business and Economic Conditions in Texas 
BUREAU OF BUSINESS RESEARCH 
mE UNIVERSITY OF TEXAS 
VOL. XXIX, NO. 7 
TWENTY CENTS A COPY-TWO DOLLARS A YEAR 
JULY 1955 
The Rio Grande 



Southernmost major river in the nation, it flows from the forested Rockies through barren highlands and ()n to the green plains of the coast. 
lrfXJ~ [!J][jjQ \1LS L j JJ)J San Antonio @[? lr~~l[\~ 
•

MEXICO TEXAS JUL 1Jo5 

Miles 

Corpus Christi 0 50 100
'======== 
Shaded area on the map represents Rio Grande drainage basin. 

In 1900 the Rio Grande Valley was largely an unpeopled wasteland. Its largest city then: El Paso, population 15,000. But Valley Texans have learned to draw rich crops and mineral resources from the earth. Today Falcon Dam provides Lower Valley farmlands with a 4 million acre-foot reservoir. And El Paso has be­come the industrial center of the southern Rockies. A special report on the Rio Grande begins on page 13. 


The Business Situation in Texas 

Business activity in Texas, after adjustment for seasonal variation, edged slightly higher during May to set another record. The index of business activity in Texas compiled by the Bureau of Business Research rose one point in May after registering no change between March and April. At 177% of the 1947--49 base period, the index in May was 17% higher than a year ago and, as can be seen in the chart below, has been rising with only minor interruptions since early in 1954. The fact that April registered no change and that the rise in May was very small suggests that the pres­ent level of activity is at practically full capacity. It seems doubtful that the next 12 months will witness an increase in business volume equal to that registered in the pre­ceding year. If the volume of business continues to in­crease, the expansion probably indicates a rising secular trend resulting from further population growth and a higher degree of industrialization. It appears that most of the existing capacity of the Texas economy is being uti lized. 
The table at right gives the changes in the different components of the index of business activity. The rise in the composite index was brought about almost entirely by the increase in building activity. The only other component to register an increase was miscellaneous freight car­loadings. Total electric power consumption showed no change, and industrial power consumption declined only one point, less than one-half of one percent. The declines in the other series were small, except for the 5% drop in crude petroleum production. 
Every component of the index of business activity except miscellaneous freight carloadings has risen in the 
12 months since May 1954. The strongest rise has been in building {+43%) ; but life insurance sales {+26%) industrial electric power consumption {+24%), and' total electric power consumption {+21% ) have also made strong gains. Retail sales, adjusted for price changes, rose 12%, while crude runs to stills gained 6%, and crude petroleum production 4%. 
INDEX OF TEXAS BUSINESS ACTIVITY AND COMPONENT SEIUES (Adjusted for aeu onal varia tion, 1947-'9 = 100) 
May Apr Percent Index We~ht 1955 1955 cbanee 
INDEX OF BUSINESS ACTIVITY 
(COMPOSITE) -----------------__________ 100.0 Retail sales, deflated --------------------------------46.8 Industrial electric power consumption ... 14.6 Miscellaneous freight carloadings --------__ 10.0 Construction authorized, deflated ______ ____ 9.4 
Crude petroleum production ------------___ __ 8.1 
Ordinary liie insurance sales, deflated __ ___ 4.2 Crude runs to stills ----------------------____ __ 3_9 Total electric power consumption ···-. 3.0 
177•  176•  + I  
156•  158  - I  
309•  310•  
95 181 •  93 152•  + 2 + 19  
124•  13!•  
201  206  
138  142  
284•  284•  

*Preliminary. 
xChange is less than one-half of one percent.

~~~~~~~~....i 
The booming construction industry has been the strong· est segment of the Texas economic picture, just as it has been for the country as a whole. The May value of the Bureau's index of urban building permits issued was 243% of the 1947--49 base. This index does show considerable erratic variation from month to month; yet, for eight out of the past nine months it has been more than 200% of the 1947--49 level. The index had previously been above 

Texas Business Activity 

Index· Adiusted for seasonal variation · 1947-1949=100 
200 150 
100 
so 
0 


1939 '40 '41 '42 '43 '44 '45 '4·6 '47 '48 '49 'SO '51 '52 '53 '54 'SS 

200 for only three months, August and December 1950 and January 1951. 
For the United States expenditures for new construction in May were at a record level. This marked the sixth con­secutive month of extremely high expenditures. The rise was particularly strong in private construction, with both residential and nonresidential building increasing sharply. As a result of the record first five months of the year, gov­ernment economists have raised their estimates of the new construction volume during 1955 to $41.8 billion, an in­crease of 11 % over the record 1954 expenditures of $37.6 billion. Last November the official estimate of 1955 con­struction was $39.5 billion. 
Privately financed new home building in the United States was estimated to run 21 % ahead of 1954, com­mercial b~ilding 30%, industrial construction 8%, pri­vate utilities 4%, and public construction 4%. For Texas 
F. W. Dodge Corporation reported that the value of new residential construction contracts during the first five months of 1955 was 31 % above the same period of last year, and the value of new nonresidential contracts was up 33%. Even if residential building should slow down dur­ing the remainder of 1955, it is reasonable to assume that total construction will be well maintained by contracts for nonresidential construction. · 
During 1954 the volume of new plant and equipment expenditures of business declined, but the trend has been reversed in 1955, and this factor has become one of the major sustainin~ forces in the current business upswing. The data compiled by the Securities and Exchange Com· mission and the Department of Commerce are not tab­ulated separately for Texas, and the information compiled by the Bureau of Business Research on industrial expan­sion does not include statistical data on investment in new plant and equipment. However, the information available to the Bureau indicates that industrial expansion was maintained at a higher rate in Texas during 1954 than for the country as a whole. 
The latest survey of business plans for expenditures for new plant and equipment made by the SEC and Depart­ment of Commerce in April and May indicates that cx­penditures will increase approximately 9% between the first and second quarters of 1955. This would be the largest quarterly rise since the last half of 1950. The plans of business concerns indicate an increase of 3% in the third quarter, which would bring the level of expenditures to nearly $29 billion, equal to the previous peak reached in the third quarter of 1953. These estimates represent a sub­stantial increase over the anticipated expenditures based on the survey made in January and February. 
A direct result of the increase in expenditures for new plant and equipment has been the rapid increase in orders for machine tools. The National Machine Tool Builders Association reported that new orders for machine toob in May were at the highest level since Atwust 1953 and were 75% above May 1954. The continued announcemt"nt of new plants and expansion of existing facilities in Texas gives evidence that this portion of the rconomy is still one of the most stimulating factors in the rurrent ·bu"ine"" 
situation in the stale. The index of industrial production in the Cnited State~ compiled by the Board of Governors of the Federal Re­serve System reached an all-time high of 138 (1947-!9= 100) in May, one point above the previous peak in July 1953. The only statistical measure of industrial produc­tion in Texas is the index of industrial power consumption. which reached its highest recorded peak in April. Although the index declined one point in May, it was still 24'./r aboYc l\fay 1954, and the first five months of 1955 were i9r; above the same period of 1954. Consumer purchases as measured by retail sales in Texas stores continue to represent another mainstay of the busi­ness boom. May retail sales declined 2% from April, but May 1955 was 12% above the same month a year ago. Sales of durable-goods retailers were 20~c aho\·e last May, reflecting the strong demand for cars and appliances. Consumer income has continued high, and installment credit has been generously used to increase purchasing power. The recent wage increases have stimulated some discussion of the possibilities of higher prices, but the major price indexes have remained surprisingly stable through both the decline in 1954 and the rise in busine5s activity in 1955. The consumer price index for May re­mained unchanged at 114.2'./c of the 1947--49 ba~e period. The index of wholesale commodity prices declined 0.6 points between April and May but was only 1.0 point below the level of May 1954. 
Bank Debits in Texas 
Index· Adjusted for seasonal variation •1947-1949: 100 
250 
200 
50 
00 


1939 ·40 ·41 ·42 ~3 ·44 '4S '46 ·41 '48 ·49 ·so ·s1 ·s2 ·s3 ·54 ·ss 

The index of bank debits in Texas cities (charted above) shows essentially the same pallern as the index of business activity. May 1955 was 17% above May 1954. 
the  same percentage change as shown  by  the  busines5  
index.  
JOHN R. STOCKTO:'i  

THE UNIVERSITY OF TEXAS 

Executive Seminars 

To encourage better leadership for small and medium­sized Texas businesses, four one-week executive seminars are scheduled for the coming year, the first beginning July I I. For full information write to the Director, Execu­tive Development Program, Divisio.n of Extension, The University of Texas, Austin 12. 

TEXAS BUSINESS REVIEW 

...........Managing Editor

Robert H. Ryan .......·-··············----·· 

COLLEGE OF BUSINESS ADMINISTRATION 
THE UNIVERSITY OF J'EXAS 
William R. Spriegel............................--·-··--··-···-----·-·--··--·····-··-·---.......Dean 

Business Research Council 
William R. Spriegel (ex officio), J. W. Cashin, A. F. Etier, J . L. Hazard, Elizabeth Lanham, R. H. Montgomery, and G. H. Newlove. 
STAFF OF THE BUREAU OF BUSINESS RESEARCH 
John R . Stockton Director  Stanley A. Arbingast Florence Escott A ssistant Director Research Supervisor Resources Specia.liat  
A. Hamilton Chute Retailing Specialist  Francis B. May Richard C. Henshaw,Jr. Research Scientist Statistician  
Robert H. Ryan Research Associate  Alfred G. Dale Anne K. Schuler Research Associate Research Associate  
William E. Wright Research Associat.e  
William S. Lowe, Jr. Research. Associate  Sylva Bowlby Jo Overstreet Don N oble Senior Clerlc Research Assi8tants  
Marjorie T. Cornwell Administrative Clerk  Martha G. Moore Tina Piedrahita Statistical Assistant Library Assistant  
Roberta Steele Cartoorapher  Barbara Scott Calvin Jayroe Publications Assistant Offset Press Operator  

Judy Vaughan Phyllis Lemon Mary Oxford Clerical Assistant Secretaries 
Assistants 
Pierce Arthur Jr., Marilyn Biel, Benny Hill, Cahill Hitt, Julian Jones, Patricia Ludwig, Clifford McCormick, Jr., Candis Pattillo and Ma ry Weber. 
TABLE OF CONTENTS 
The Business Situation in .Texas_________ __________ _ 1 Construction . 
··------·----·--···-----------------·-----------------___
__ 4 Retail Trade ... -----------·--·----· _--------------------6 Finance ..... 8 Industrial Production 9 Agriculture 11 The Rio Grande 13 Labor ... ... .. .... 17 Local Business Conditions -----------------------·-----------------18 Barometers of Texas Business -----------------------------------24 
Publiobed monthly by the Bureau of BuslneM Research, College of Business Administration, The University of Texaa, Austin 12. Entered as second class matter May 7, 1928 at tbe post office at 
Austill Texaa, under the act of August 24, 1912. Content of this publication lo not copyrighted 1<nd r.iay be reproduced freely. Acknowledgement of source will be Rppreclated. Subacription. S2.00 " year: individual copiea, 20 cent.a. 
CONSTRUCTION 
Near records set for May. After adjustment for sea­sonal changes, construction authorized in Texas during May increased 19% over April and 46% over the same month of last year to reach the }iighest point since Decein­ber 1950, the all-time high in Texas. The $102 million registered in May was over $10 million more than con­struction authorizations reported for April 1955 and brought the cumulative total for January-May 1955 to 36% over the same period for 1954. 
Value of Building Construction Authorized 
Adjusted for price changes and seasonal vorKJtion -Index 19.0..C9-100 
2SO 200 
20I 
A 
/VI 
Ir.
ISO 
ISO
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l'I 
M 
,
I ,A
l)
, 
V\1
A 
\I
100 
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-v 
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vvv 
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0 • 
1939 '40 '41 '42 '43 '44 '4S '46 '47 '48 '49 ·so 'SI 'S2 'S3 '54 'SS 
The biggest single increase was in commercial garages (+2230%), which are springing up all over Texas, not only for transient parking but mainly to relieve parking problems in congested cities. An example of this is one per­mit issued in Dallas for a multiple-story parking lot for almost $1.4 million. In Houston two permits were issued for a total of almost $2.8 million for similar projects. 
Other large increases occurred in small apartment buildings (+640%), larger apartment buildings {+360%), public institutional buildings (+ 150%), and private schools (+ 70% ). The May rise in apartment con· struction can be attributed most!y to Houston (68 permits totalling $2.9 million). An addition to a state hospital in Austin accounted for $503,000 of the $641,000 reported for institutional buildings. Schools were built in Houston 
(four for $1.5 million) , San Antonio (three for $365,000), Marshall (one for $289,000) , and Gainesville (one for $174,000J. 
Building permit values issued by cities. Largest relative percent changes in May over April 1955 occurred in Brownwood (+4150%), Llano (+560%), Childress (+250%), Marshall (+220'/o) , Sherman (+170%), Pampa (+ 140%) , and Marlin (+ 100%). J'he six larg· est cities' percentage changes over April were: Austin (+15% ), Houston (+11 %), Dallas (a very slight de· crease), San Antonio {-17%), El Paso (-25%), and Fort Worth (-30% ). 
Per capita expenditures. Per capita construc~i?n spending in 242 cities during May averaged $27.31. C1t1es that registered more than $100 per person were: Pasade~a ($975.71), Irving ($748.57), Richardson ($519.78), Big Lake ($465.61), Mesquite ($381.49), Groves ($237.69) , Sinton ($144.33), Justin ($141.13), Dimmitt ($120.47), and Euless ($100.00). 
More projects started. The $151.2 million Texas out· lay for total construction started in May, reported ~y Dodge Statistical Research Service, represents a 15% gam over April and a 35 % improvement over May 1954. The cumulative January-May total was 28% ahead of the like period of last year. During the first five months of this year value of nonresidential building starts rose 33% above the comparable 1954 total, while residential build­ing and public works and utility projects registered in­creases of 31% and14%, respectively, for the same period. 

The national picture. The value of new construction put in place throughout the nation expanded seasonally in May to $3.5 billion, setting a new high for the month and establishing a record total of nearly $15.3 billion for the first five months of the year, according to preliminary estimates prepared jointly by the U. S. Department of Commerce and Department of Labor. Construction ex­penditures during May rose to an all-time peak annual rate of $42.1 billion, seasonally adjusted. This compares with an annual rate of $41.1 billion during January 1955 and actual outlays of $37.6 billion in 1954. Increased 
activity in nearly all types of private work contributed to 
this record rate. Private expenditures totalled $11.1 bil­
lion during January-May 1955, highest sum ever recorded 
for that part of a year and 21 % more than private con­
struction outlays in the previous record first five months 
of 1954. Public outlays during January-May were the 
same as in the corresponding five months of 1954, as sus­
tained expansion in state and local public works offset 
continued declines in public housing activity and most 
types of direct federal construction. 
Private residential building activity increased season­

ally from April to set a new peak for the month of May 
and to complete a record five-month period. The $6.0 bil­
lion worth of work put in place was a 33% increase over 
January-May 1954. 
Other types of private construction that posted new rec­

ords for work put in place in the first five months of 1955 
ESTIMATED VALUE OF BUILDING PERMITS ISSUED 
Source: Bureau of Business Research In cooperation with the Bureau of Labor Statistics, U. S. Department of Labor 
January-May 
May Percent Classification 1955• 1955 1954 change 
~~~~~--:-:----::--:-:--::-~~~­
CONSTRUCTION CLASS value (thousand of dollars) 
ALL PERMITS ·········-····-·····-101,929 470,292 345,548 + 36 
New construction ---------------------------84,806 418,643 307,973 + 36 Residential buildings -----------------59,869 290,892 202,476 + 44 Housekeeping dwellings 59,343 287 ,255 198,782 + 45 One-family dwellings ---------54,999 274,723 188,696 + 46 Multiple-family dwellings.... 4,344 12,532 10,086 + 24 
Nonhousekeeping buildings ... 526 3,637 3,694 -2 Nonresidential buildings 24,937 127,751 105,497 + 21 Additions, alterations, -----------------·------------­
and repairs 17,123 51,649 37,575 + 37 
METROPOLITAN vs. NON-METROPOLITANt (1950) ALL PERMITS -----------------------101,929 470,292 345,548 + 36 
Metropolitan ---------------------------------77,675 359,212 260,647 + 38 Central cities ................................ 65,736 301,195 223,315 + 35 Out.side central cities -----------------11,939 58,017 37,332 + 55 Nonmetropolitan -----------····--------·-···· 24,254 111,080 84,900 + 31 10,000 to 50,000 population ·--14,616 71,194 45,266 + 67 Less than 10,000 population ------9,638 39,886 39,634 + 1 
Only building for which permits were issued within the incorporated area of a city Is Included. Federal contracts and public housings are not included. 
•Preliminary. 
tA1 defined in the 1950 Cenaus. 

VALUE OF CONSTRUCTION CONTRACTS AWARDED 
Source: Dod11:e Statistical Research Service 

January-May 
Type of May Percent construction 1955 1955 1954 change 
Value (thousands of dols) 
NEW CONSTRUCTION .... 151,233 646,947 505,148 + 28 

ALL BUILDINGS ........  126,132  524,170  397,694  + 32  
Residential buildings ------­ 79,026  320,692  244,994  + 31  
Nonresidential building ----­ 47,106  203,478  152,700  + 33  
PUBLIC WORKS  
AND UTILITIES ......  25,091  122,777  107,454  + 14  

were commercial, religious, and educational buildings. The current level of expenditures for private educational buildings is lower, however, than the amounts recorded for August and September 1954. 
During January-May 1955 most types of public con­struction continued at an even rate, after allowing for sea­sonal factors. Compared with 1954., residential and indus­trial building activities were lower in 1955 by 351/c and 41 %, respectively, and conservation and development work was off by 13%. These decreases were offset by ga~n.s in public educational buildings ( +18%), military facili­ties (+13 % ) , sewer and water projects ( +11 % ) , and highway projects (+8%). Hospital construction con­tinued relatively unchanged over the year. 
House hunters to pay more. New homes bought this summer will probably cost $200 to $400 more than they would have earlier this year. ~uilders of medi.u~­priced homes-$10,000 to $18,00~-m.a numbe'. of_ c1t1es say they have already raised their pnces or will m the near future. Generally, the price advance reflects a new round of wage boosts for building trades workers. (car­penters, painters, and bricklayers). Some boosts m the cost of lumber and other building materials also are add­ing dollars here and there to price tags on housing. 
Demand still strong. A Wall Street ! ournal surve~ of builders in a dozen key cities reveals other house bmld­ing highlights. For one, there is little slackening of de­mand for houses, although some builders say buyers are looking a little harder and longer than ~efore. In other areas, including Dallas and Houston, builders ~re start· ing fewer homes this summer t~an last or cuttmg bac.k original plans for new construction. One rea~on for th:s cutback may be the anticipated 30% increase 111 prefabn­cated houses. Where cutbacks are occurring, they are usually in speculative homes, for which the builder seeks a buyer after the house is finished. :\nd .shortages of some materials, notably cement, are ~akmg life ?ard f.or build­ers but generally are not delaying buyers movmg da)S. 
An FHA slowdown? Reports and rumors in recent weeks have suggested tl:iat the Federal Housing Autho.r­ity had shut off various types of mortgage loan commit­ments in some parts of the country. The agen~y ai~nounced that 26 areas were involved, but FHA officials 111 ~ash­ington have refused to list the areas or further explain the withdrawals and agree that the housing market should be left to self-adjustment, rather than g.o\·ern~ent contr?ls, except in a few isolated areas where mdustnal expans10n 
is rapid. 
(Continued on page 16 1 


HETAIL TRADE 

Sales hanging high. With new records for production, employment, income, and expenditures continuing to be set, retail sales held at high levels during May and early June. Business optimism and consumer confidence ride high, except in agricultural regions. Rains in drouth areas of the Southwest have improved buying tendencies there. Sales increases in the Southwest surpassed the national average in 19 of the first 24 weeks of 1955. Much of the sales impetus has attached to the volume of new auto­mobiles, moving at a monthly rate of 600,000 or more for 
Retail Sales in Texas 
Adjusted for price changes and seasonal variation -Index 190-49-100 


M~~~~~~~~~~~~~~~~ 

the fourth consecutive month. Even used cars have been selling at a rate 25% higher than in 1953 or 1954. Their price structure has been considerably less weak than was true last year. 
Larger-than-usual gains appeared in various lines of women's apparel. Children's wear sold briskly until early June, then fell off. Men's summer clothing has maintained a strong pace, also shoes and athletic goods. Numerous lines of household goods have continued to sell well, especially case goods, outdoor furniture and barbecue equipment, re­frigerators, washers, and dryers. Home repair and decorat· ing supplies moved well. Retail sales of fans, air con· ditioners, and television sets have been disappointing. 
ESTIMATES OF TOTAL RETAIL SALES 
Sales Percen\ change (mils of dols) May 1955 May 1955 Jan-May 1955 Type of May Jan-May from from from store 1955 1955 Apr 1955 May 1954 Jan-May 1954 
TOTAL -----931.0 4,420.5 + 1 + 12 + 12 

Durable goods _____ 357 .6 1,665.2 
+ 5 + 20 + 21 

Nondurable goods _.. 573.4 2,755.3 -+ 8 +
1 7 

Food sales were strong until mid-June. Nationwide, about 7.5% more merchandise has been sold than in the early part of 1954 and 5% more than at the earlier peak of 1953. Much of the retail "boom" has concerned itself with luxury-type goods. Many higher price tags have been ac­cepted, although with a careful eye to better quality and value. 
Market brisk. Attendance at wholesale markets and orders placed there have remained well above last year's levels. Considerable fall business was reported, and earlier than last year, besides active reordering of men's summer clothing, which had evidently been stocked too sparingly. Buyers responded well to showings of women's fall apparel in New York, Los Angeles, and Chicago. Orders were earlier and larger: up 25% for fur goods, ahead 15% to 25% for other apparel lines, 5% higher for household goods, and 4% to 6% stronger on nondurable goods, such as draperies and curtains. Increased prices were posted for carpets. Ordering of heavy appliances and television sets improved in late May. Demand for colored ranges, re­frigerators, and washers proved smaller than expected and demand for white models, larger. Air conditioners were ordered more actively in early June. Little inventory ac. cumulation has occurred among retailers except for stocks of new automobiles. These reached an all-time high of about 757,000 on May 1. Some seasonal slowness is ex­pected for a few weeks, but firm plans are evident for an expected strong fall upturn. A record volume of vacation travel is under way. 
Tightening credit terms and greater selectivity as to risks are reported from some areas, thus reflecting the huge de­mand for funds. Sales volume appears to be but little af­fected. Home mortgage credit in the first quarter doubled its 1954 volume for: that period. Loans on cars declined about $475 million in the first quarter of 1954 but rose about $650 million this first quarter. 
Survey of Texas trade. In Texas, with 3,197 retailers reporting, May sales bettered April's by 1 % and topped last May's by 12%, as compared with a national average gain of 8%. There was also a 12% increase for January­May over those months of 1954. Durable goods continued to make substantially larger contributions to increased volume (+20% in May). 
Retail lines averaging the largest increases over April included farm implement dealers ( +48%) and jewelry stores ( +18%). Sales in apparel lines (-7% to -22%) 
CREDIT RATIOS IN DEP ARTMENT AND APPAREL STORES 

Credit Number ratioe• of reporting May May Classification stores 1955 1954  Collection ratios! May May 1955 1954  
ALL STORES --------------­68 62.8 61.9 BY CITIES Austin -----------------­4 62.2 60.3 Cleburne ----------------­37.3 37.9 Dallas -------------­7 57.5 61.5 El Paso ---------------------­3 59.5 59.2 Fort Worth -----------­3 67.0 64.0 Galvooton -------------·--­5 61.0 59.9 Houston --------------------­5 67.2 64.& San Antonio ----------------­6 63.1 62.2 Waco -----------------·--­5 60.1 59.0 All others ------------------­27 60.2 58.0  38.6 39.6 53.7 50.6 41.2 46.1 50.2 48.6 33.7 32.1 33.4 36.0 47.2 50.5 31.8 33.7 41.4 46.4 51.0 53.4 45 .9 41 .0  
BY TYPE OF STORE Department stores (over $1 million) -------------­20 63.3 62.5 Department stores (under $1 million) ------------­18 46.8 44.1 Dry goods and apparel stores ___ 73.8 70.9 Women's specialty shops ------­14 61.8 61.1 Men's clothing stores --------­10 64.6 63.8 BY VOLUME OF NET SALES (1954) Over $3,000,000 -----·---------­20 63.7 63.0 $1,500,000 to $3,000,000 ---------­5 60.1 59.6 $500,000 to $1,500,000 ---------­16 58.8 57.0 $250,000 to $500,000 -----------­11 49.5 47.4 Less than $250,000 -------­16 45.9 43.2  36.6 37.7 45.4 46.6 55.9 57.2 46.7 45.2 49.2 54.6 37.3 38.4 54.7 54.9 49.7 50.9 43.9 44.6 44.4 46.7  
•Credit sales 88 a percent of net aales.  

tCollections durinc the month as a percent of accounta unpaid on the flnst of the month. 

BETAIL SALES TRENDS 

Source: Bureau of Business Research in cooperation with the Bureau of the Census, U. S. Department of Commerce 
Percent change 
Numberof~~~~~~~~~~~~ 
reporting May 1955 May 1955 Jan-May 1955 establish-from from from Group ments Apr 1955 May 1954 Jan-May 1954 

KIND OF BUSINESS DURABLE GOODS Automotive stores ----------------279 + 6 + 31 + 35 Furniture and household appliance stores -------------138 + 6 + 12 + 10 Lumber, building material, and hardware stores --------331 3 + 16 + 18
+ 

NONDURABLE GOODS Apparel stores -------------------235 -11 6 5
+ + 

Drug stores -------------------194 x + 6 + 6 Eating and drinking places 142 2 -3 -1
+ 

Filling stations ------------------1,136 + 1 + 22 + 17 Food stores ---------------------303 1 + 3 + 2 General merchandise stores 217 3 8 9
+ + 

Other retail sale stores.......... 222 4 2 6

+ + + 

CITY-SIZE CLASS (1950) 
Over 250,000 -----------------1,610 + 1 + 16 + 19 100,000 to 250,000 ---------------221 -11 + 12 + 17 60,000 to 100,000 ----------260 + 2 + 18 + 20 2,600 to 50,000 -----------------965 + 4 + 16 + 14 Under 2,600 -----------------------141 + 6 + 1 + 4 
xChange is less than one-half of one percent. 

fell sharply from earlier spring peaks. Best gains over last May included motor vehicle dealers (+32%), filling stations ( +22%), lumber, building material, and hard­ware stores ( +16%), furniture stores and men's and boys' clothing stores (each + 14% ), and office, store, and school supply dealers ( + 12%). Comparing the first five months of 1955 with the same period of 1954, leading increases were shown by motor vehicle dealers (+37%), lumber and building material dealers ( +20%), filling stations ( + 17%), furniture stores ( + 13 % ) , and department, hardware, and jewelry stores (each +11 % ) . 
Reporting by cities, 320 Texas department and apparel stores averaged a 6% drop from April but topped by 8% both May 1954 and January-May 1954. Of the 36 cities reporting, five bettered April, 24 topped last May, and 26 were ahead of January-May 1954. In the May-to-May com­parison, largest gains were at Lubbock ( +20%), McAllen ( + 19%), Port Arthur ( + 16%), Denison and Fort Worth (each +14%), Snyder (+12%), Houston and San Antonio (each + 10% ), and Temple ( +9%). Leaders for the five months, January-May, were Lubbock ( +25%), McAllen (+20% ), Fort Worth (+15%), Temple ( + 12%), and Port Arthur ( + 10% ). 
Of the 34 cities reporting enough retailers of various types to be listed individually, 20 rose from April, 26 sur­passed last May, and 30 exceeded January-May 1954. Top­ping May 1954 were Big Spring (+82%), McAllen (+42%), Amarillo (+28%), Beaumont, Brownsville, and Lubbock (each +24%), Denison (+16%), Hen­derson (+20%), and Houston, Sherman, Waco, and Wichita Falls (each + 17% ) . Many other towns showed smaller gains. Bettering the first five months of 1954 were Big Spring (+44%), Lubbock (+37%), Amarillo (+34%), McAllen (+33% ), Dallas (+20% ) , Browns­ville (+18% ), and Corpus Christi, Denison, EI Paso, Houston, and Temple (each +16% ). 
The May ratio of credit sales to total retail sales in 68 Texas department and apparel stores stood at 62.8% as compared with 61.0% in December, 64.41);, in March, and 61.9% last May. The average collection ratio for May was 38.6%, as against 45.5% in December and 39.61; ; last May. Largest collection ratios were reported from Austin 
(53.7% ), Waco (51.0% ), and Dallas (50.2% ). By type, dr~ goods and apparel stores had the highest collection ratio, 55.9%. Improvement over collection ratios of May 1954 was made at Austin, Dallas, and El Paso. 
Secondary trade indicators. Advertising linage in 30 Texas newspapers averaged 6% over April and 15% over last May. Of the 30 papers, 23 topped April and 25 sur­passed last May. Postal receipts for 120 Texas cities ex­ceeded April by 9% and last May by 15%. Of the 120 cities, 65 outdistanced April and 84 were ahead of May 1954. 
A. HAMILTON CHUTE 
POSTAL RECEIPTS 
Percent change 
May 1955 May 1955 May Apr May from from City 1955 1955 1954 Apr 1955 May 1954 
TOTAL" --------$6,604,611 $5,945,762 $5,655,018 9 + 15
+ 
Arlington -----------16,299 16,172 12,954 + 1 + 26 Bastrop 1,392 1,401 2,053 1 -32 Bay City ------------8,588 7,806 7,740 + 10 + 11 Belton -----------6,479 6,937 4,914 8 + 11 Brownfield -----------6,209 6,672 6,110 7 + 2 Cameron ----------8,083 8,774 7,951 8 + 2 Cleburne ------------11,597 11,452 10,620 + 1 + 9 Coleman 5,038 5,081 6,188 -3 Crystal City ---------2,446 2,425 2,160 + 1 + 13 Cuero -------------------3,933 4,201 3,584 + 10 Denton 22,550 22,500 20,066 x + 12 El Campo -----------7,081 7,166 7,270 1 -3 Gainesville _______ 12,439 10,053 9,893 + 24 + 26 
Gatesville ---------3,439 3,353 3,313 + 8 + 4 Gilmer 3,147 3,396 4,542 7 -31 Graham ----------5,624 5,723 5,256 + 7 -------+
Granbury 2,290 2,302 2,118 8 Grand Prairie ----16,750 15,131 12,610 + 4 + 25 
Hillsboro ------4,849 6,070 5,033 4 -4 Huntsville 4,961 8,955 5,971 -45 -17 Jacksonville ----9,619 12,038 11,392 -20 -16 Kenedy --------­
2,709 2,892 	3,190 6 -15 7,872 2 3
Kerrville ---------7,602 7,442 + -
Kingsville ------10,616 9,995 9,547 + 6 + 11 Kirbyville ------1,587 1,977 1,994 -20 -20 La Grange -----3,011 3,751 3,441 -20 -12 
Littlefield ------­
4,082 4,939 	6,061 -17 -19 
2,772 3,312 	2,792 -16 -1 
McCamey ---------2,803 2,149 2,408 + 30 + 16 Marlin ------6,794 5,112 5,153 + 13 + 12 Mission ----------6,075 6,324 + + 
Luling -------­
5,823 4 4 Paris 14,510 14,446 13,293 x + 9 Pasadena 19,212 20,025 15,828 -4 + 21 
Pecos ----------8,080 7,264 7,115 + 11 + 14 Pittsburg --------S,000 2,658 2,450 + 13 + 22 
San Marcos -------10,306 9,841 9,901 + 5 + 4 1,998 1,979 2,062 1 3
Taft --------------	+ 
5,616 6,225 -4 3
Terrell --------5,371 + Vernon ------­
8,677 9,686 8,284 -10 + 5 Waxahachie ----8,306 7,621 8,606 + 9 -3 
8,439 9,011 	9,580 -6 -12
Yoakum --------­
•The total includes receipts for cities which are listed individually under 
41Local Business Conditions." xChanlj'e is less than one-half of one percent. 
FINANCE 
Expanding business in Texas during the past 12 months has made necessary the use of greater amounts of bank credit. This expansion is reflected in the fact that loans of the weekly reporting member banks in the Eleventh Fed­eral Reserve District were 16% higher in May than a year earlier. In all parts of the country the boom in business is calling for an increased amount of credit. In fact, the ris­ing of the level of business has been so strong that signs are beginning to suggest that there is some concern that an excessive expansion in credit may be in the making. 
CHANGES IN CONDITION OF WEEKLY-REPORTING MEMBER BANKS IN THE DALLAS DISTRICT 
Source: Board of Governors of the Federal Reserve System 
Percent change 
May 1955 from Item Apr 1955 
ASSETS Loans and investments --------------x Loans ----------------------------------------+ 2 
Total U.S. Government securities 3 Treasury bills -----------------------------26 Treasury certificates of 
indebtedness --------------------------36 Treasury notes --------------------------+ 5 Bonds -------------------------------------1 
Other securities ----------------------------­Reserve with Federal Reserve 
Banks --------------------------------­Cash in vaults -------------------------14 Balances with domestic banks ---+ 5 
LIABILITIES Total deposits (except interbank) + Demand deposits (adjusted) ___ + Time deposits -------------------------1 
U.S. Government deposits _____ + 19 Interbank deposits -----------------9 Domestic banks ----------------------9 
Foreign banks ----------------------..-­CAPITAL ACCOUNTS -------+ 2 
Percentage changes are based on the Wednesday nearest the end of the month. 
xChange is Iese than one-half of one percent. 
The demand for funds has come from many segments of the economy. The rising volume of business has called for more working capital, while the increased expendi­tures for plant and equipment require increases in long­term capital. Consumer credit outstanding reached a rec­ord level in April, spurred by the greatly increased pur­chases of cars and appliances. The mortgage market con­tinued to absorb great amounts of credit as the building boom continued to set new records. Expenditures of state and local governments for the many needed projects con­tributed substantially to the demand for funds. The Dal­las-Fort Worth toll-road bonds in the amount of $58,500,­000 were sold at a net interest rate of 2.92805%, reported to be the best price ever received for a turnpike project not supported by public funds. 
Federal Reserve allows credit tightening. It is in­evitable that the market for loan funds should tighten under the greatly increased demand, and the fact that the Board of Governors of the Federal Reserve System has not made any moves to increase the supply of credit is sig­nificant, since it is possible to ease or tighten reserves 
REVENUE RECEIPTS OF STATE COMPTROLLER 
Source: State Comptroller of Public Account. 

September 1-May 31 
Percent 
Source 1954-66 1953-64 
ch an.re 
TOTAL ----------------------~-----------­
Ad valorem and inheritance taxes____ Natural and casinghead gas 
production taxes -------------------------­Crude oil production taxes ---------------­Telephone and utility taxes -----------­Insurance companies occupation 
taxes ---------------------------------------­
Net motor fuel taxes ------------------------­Cigarette tax and licenses --------_____ Alcoholic beverage taxes and licenses Automobile and other sales taxes___ 
Franchise taxes -------------------------­
Mineral leases, rentals, and bonuses Oil and gas royalties ----------------------· Motor vehicle licenses, permits, and 
miscellaneous ------------------------­Federal aid-highways ------------------­Federal aid-public welfare -----------­Unemployment compensation taxes.. 
All other receipts -----------------------­
$637,365,420 $616,1~6,179 
+ 
33,214,202 
29,252,262 97,311,999 3,752,780 
20,057,771 88,888,119 25,795,197 16,017 ,138 16,466,714 28,794,212 20,867,906 18,484,364 
39,077,256 27,331,451 88,511,289 11,719,999 71,822,761 
31,493,224 
19,007,430 96,075,653 3,429,918 
18,477,259 83, 724,933 25,390,949 14,250,676 13,778,462 14,958,270 53,942,107 17,668,332 
38,464,920 19,916,968 87,892,822 13,010,678 64,813,578 
+ 
+64 
+ 
1 

+ 
9 

+ 
9 

+ 
6 

+ 
2 


+12 
+20 
+92 
-61 
+ 
6 

+ 
2 


+ 37 
+ 1 
-10 
+11 
whenever the Board considers it wise to do so. No move had been made by the third week in June to alter the situ· ation in the money market. With the volume of business continuing to rise, some increase in interest rates during the coming months is to be expected if there is to be no easing of the reserve situation. The regular seasonal rise in the demand for credit is just ahead, and the failure of the Federal Reserve System to take steps to expand the volume of credit is tantamount to a tightening of credit. 
Security prices under surveillance. The continued rise of the stock market is being watched more and more carefully, although the present level is generally not con· sidered too high in comparison with past bull markets. After establishing a high of 430.64 on April 26, the Dow· Jones industrial average declined to 414.12 on May 17. Since that date it has been rising, and it closed at 444.38 on June 20. }oHN R. STOCKTON 
FEDERAL INTERNAL REVENUE COLLECTIONS 
Source: Internal Revenue Service, U.S. Treasury Department 

July 1-May 31  
Percent  
Source and area  1964-65  1953-64  change  
TEXAS  ------------­ $1,911,165,520  $1,930,496,712  -1  
Income -------------------------­Employment ---------------------­Withholding ------------------­Other -----------­-----------------­FIRST DISTRICT ---­ 995, 728,522 24,810,853 750,559,587 140,066,558 1,029,982,514  979,281,336 21,379,126 757,573,808 172,262,442 1,048,753,871  + 2 +16 -1 -19 2  
Income ------­----------------------­ 535,278,222  541,807 ,015  
Employment -----------------­Withholding ----------------------­Other --------------------------------­ 4,535,521 406,540,987 83,627,784  4,748,418 403,983,714 98,214,724  + 1 -15  
SECOND DISTRICT__ Income -------------------------­Employment -------------------­Withholding ----------­----­----­Other -----------------­------------­ 881,183,006 460,450,300 20,275,332 344,018,600 66,438,774  881,742,841 437,474,321 16,630, 708 353,590,094 74,047,718  x + 6 +22 -3 -24  

xChange is less than one-half of one percent. 


INDUSTRIAL PRODUCTION 

,Texas aircraft manufacturers have secured a number of highly significant new contracts during the past month. Most recently the Convair Division of the General Dy­namics Corporation at Fort Worth was awarded a con· tract for modification of a large number of C-54's into air rescue craft. TEMCO Aircraft Corporation, Dallas, will build several F-lOOD Super Sabre assemblies for the Co­lumbus, Ohio, Division of North American Aviation, Inc. Work on the North American contract will be performed at TEMCO's Garland Plant beginning in July. 
ELECTRIC POWER CONSUMPTION 
WELL COMPLETIONS 
Source : The Oil and Giu J our.t<tl 

May 1955* January-May Region Oil Gas Dry Total 1955 1954 
ALL TEXAS ___ 968 
56 546 1,570 7,921 7,267 

Southwest ---------­Gulf Coast _____  124 90  10 10  83 100  217 200  1,235 1,047  977 1,102  
East  -------------­ 29  7  30  66  385  489  
North Central __  382  7  243  632  2,847  2,670  
West --------­Panhandle ____  284 59  5 17  83  372 83  2,000 407  1,630 399  

*For four weeks ending May 28, 1955. 
Percent change
Consumption (thous kw-hrs) May 1955 May 1955 May Apr May from from Use 1955* 1955* 1954t Apr 1955 May 1954 
TOTAL ---------·--· 2,814,389 2,704,182 2,327,679 + 4 + 21 

Commercial -------------383,494 337,286 326,927 + 14 + 17 
Industrial ---------------1,929,578 1,865,588 1,554,173 3 + 24

+ 

Residential --------------· 454,783 449,701 339,019 1 + 34
+ 

Other ----------------------46,534 51,607 107,560 -10 -57 
•Preliminary-based on reports of 10 electric power companies, leveled to Federal Power Commission estimates by the Bureau of Business Research. 
t Revised to preliminary Federal Power Commission data. 

government readvertise the plant for sale. The goYern­ment agreed, and the United Carbon bid was accepted. 
Sale of the government-owned plants has broken the near monopoly in butadiene production held by petroleum companies. In the past petroleum companies operated oyer 95% of petroleum-butadiene capacity; their share now amounts to about 62% . Oil companies remain in control of butyl rubber production. About one-third of the na· tion's copolymer capacity is now controlled by oil com­panies; previously, only Phillips Chemical Company op· erated a copolymer plant. 
Considerable expansion in Texas production capacity for the various synthetic elastomers may be on the way. 
TEMCO's subcontracting activities have included work for Boeing, Lockheed, McDonnell, Republic, and its Grand Prairie neighbor, Chance-Vought. The addition of another major plane producer to the list is considered significant. 
These two contracts in addition to those already under way at the Texas plants will help stabilize employment in aircraft manufacturing at higher levels than had been an­ticipated earlier in the year. 
Sold: Texas rubber plants. If Congress and the United States Attorney General approve, the last of the government-owned synthetic rubber plants in Texas will be sold to the United Carbon Company of Charleston, West Virginia, a newcomer in the field of rubber manu­facture. Sale price for the 44,000-ton Baytown copolymer plant will be $7,153,000. When the ,Texas rubber plants were put up for sale last year, there was only one bidder for the Baytown facility. Government authorities felt that the General Tire and Rubber Company offer of $2.5 mil­lion was too low and moved to place the plant on stand-by status. However, citizens of the Baytown and Houston areas and Texas Congressmen initiated action to have the Petro-Tex, a company jointly owned by Tennessee Gas Transmission Company and the Food '.Iachiner\" and Chemical Corporation, has already announced plans to increase output of the 90,000-ton Houston plant formerly operated by Sinclair Rubber, Inc. 
On the other hand, with some butadiene plants no longer tied to supplies of refinery gases and with copolymer plants no longer tied to fixed supplies of butadiene, com· petition for raw materials can be expected to increase. More copolymer will now be selling on the open market than to captive outlets. 
.The President's Materials Policy Commission antici­pates that world consumption of rubber will double by 1975. About half the 1975 demand is expected to be sup· plied by synthetic; therefore, substantial expansion in capacity will have to be made, possibly much of it in Texas. One new Texas butadiene plant is now in the plan­
ning stages. . . Texas containers for Texas markets. Growmg 1m· portance of market-oriented manufacture in Texas has been highlighted by the attraction of several cont~iner manufacturing plants during the past year. Internat10nal Paper, Dairy-Pak, and Kieckhefer have established plants 
Cruae Oil Proauction in Texas


Total Electric Power Use in Texas 


Index. Adjusted for seasonal variation • 1947-1949•100 Index. Adjusted for seasonal variation •1947-1949•100 
ISO

300 ISO 2SO 
100

200 100 ISO 
so

100 so 
so 
0 
0 
1939 '40 '41 '42 '43 '44 '4S '46 '47 '48 '49 'SO 'SI 'S2 'S3 'S4 'SS
'40 '41 '42 '43 '44 '4S '46 '47 '48 '49 ·so 'SI 'S2 'S3 . 'S4 'SS 

REFINERY STOCKS Source: Th~ Oil and Gaa Jourrnil 
Percent chan1re  
Area and product  Stocks (thous of bbls) May 1955 Apr 1955 May 1954.  May 1955 from Apr 1955  May 1955 from May 1954  

UNITED STATES  
Gasoline ··------·-···­Distillate --·-··--··--··  168,985 84,345  176,759 67,635  172,855 71,224  -4 + 25  -2 + 18  
Residual ··-·-····-······----·­Kerosene ----------------­ 44,359 26,344  43,887 21,012  46,433 23,416  + 1 + 25  -4 + 13  
TEXAS  
Gasoline -·--····-·-····-­Distillate --··------·····--­ 29,543 11,035  31,823 8,359  30,016 8,290  -7 + 32  -2 + 33  
Residual ····-··--··-···-·­Kerosene ------------------­ 5,570 3,644  5,211 2,803  5,538 3,534  + 7 + 30  + +  

Fi1rur.., ahown are for the Friday nearest the end of the month. 
to make paper milk cartons at Waco, Fort Worth, and Garland, respectively. Bags for the packaging of fruit and vegetables are being manufactured in a new plant re· cently put into operation at Elsa by Texas Plastics, Inc. 

Officials of American Can Company announced last month that a plant at Arlington in Tarrant County near the center of the Dallas-Fort Worth industrial complex would be built this year. This plant will be American's second Texas factory; one has been operated in Houston for several years. Addition of these plants emphasizes the growth of markets in ,Texas already served by such container makers as Gaylord, Cummer-Graham, Thomp· son Can, Continental Can, Bemis Bag, Container Corpora­tion of America, Owens-Illinois Glass, and the Knox Glass Bottle Company of Mississippi, among many others. 
The fact that Texas factories produce containers made of glass, cloth, wood, cardboard, polyethylene, plastic, metal, and paper is not only important to the servicing of regional markets but is a definite attraction for factories to come to the Southwest. Containers are usually too bulky to be shipped economically over long distances. A container plant can best serve the market when it is lo· cated near enough to its customers to keep in close touch with them. Most companies specializing in container out­put maintain a special research and design staff for the purposes of serving the special needs of their customers. 
Industrial briefs. A report recently submitted to the House Appropriations Committee by the Corps of Engi· neers is of importance to Texas shippers who use the Gulf Intracoastal Waterway. According to the report, tl.!e ratio of benefits to costs for the Intracoastal Canal is 
14.8 to 1, a much higher ratio than for other waterways. This means that savings in transportation costs to users of the canal amount to $14.80 for every dollar expended 
Crude Oil Runs to Stills in Texas 
Index · Adjusted for seasonal variation • 1947-1949•100 
PETROLEUM AND GAS ACTIVITY 
Source : State Comptroller of Public Accounta and Oil and Gaa Division, 
Railroad Commission of Texas 

Percent chaUll'e  
Product  May 1955  Apr 1955  May 1954  May 1955 from Apr 1955  May 1956 from May 1954  
CRUDE OIL  
Value (thous of dols) ····-­245,020 Production (thous of  254,697  237,803  +  4.  + 8  
bbls) ------·--------·-----··---Runa to stills (thous  86,381  89,669  83,843  4  + 3  
of bbls) ... ­·---·--------­NATURAL AND  64,449  62,535  60,658  + 3  + 6  
CASINGHEAD GAS  
PRODUCED  (value  
in thous of dols) ...  40,554  35,076  42,403  + 16  -4  
SULFUR RECOVERED  
(long tons)  -··-··-···-·­ 456  420  101  +  9  +a5o  

in the cost of its construction and maintenance. The na· tional average for 12 of the nation's major waterways was 7 to 1. Benefit-cost ratio of the Gulf Waterway is twice as high as for the 12 major canals and nearly three times as high as the average for all. 
First shipments of South African lithium ore destined for the new plant of American Lithium Chemicals at San Antonio have arrived at the Port of Corpus Christi. The ores are being stockpiled now for use when the plant goes on stream sometime in 1956. 
Alliance Ware, Inc. of Alliance, Ohio, will build a $1 million plumbing fixtures factory at Kilgore. ,The plant is to be constructed on property adjacent to that of the Kilgore Ceramics Corporation. Alliance Ware is a lead· ing manufacturer of porcelain-on-steel bathtubs, steel sani· tary ware, and tubs for washing machines. Metal shapes for the Kilgore plant will be formed at Alliance. Poree· lain enameling of the shapes, including chemical prepara· tion of the steel, welding, and other operations will be done at Kilgore. Products will be distributed throughout the Southwest. 
Trailmobile, Inc., a subsidiary' of the Pullman Com· pany, has purchased the plant formerly occupied by Pow· ers Manufacturing Company at Longview. Trailmobile will manufacture trailers and other automotive equip· ment at its new Texas plant. 
Pittsburgh Screw and Bolt Corporation made its first shipment from its new Longview factory in late May. The initial output of the plant consisted of pipe thread pro· tectors and went to the pipe mill of Lone Star Steel at Lone Star. 
STANLEY A. ARBINGAST 
Dairy Products Manufacturing in Texas 
Index-Adjusted for seasonal variation· 1947-1949•100 


200
200 
A 
. lf l( 
'-'\ 
"'\ M 
l50
150 
"1-w 
v 
" 
I, 1 
A 
A 
...,
' . 
1OG
100 
vvv'W 
n 
~
~ 
v ., 
"' 
\,,, \,, 
\ \
so 
0 
0 
1939 '40 '41 '42 '43 '44 '4S '46 '47 '48 '49 '50 '51 '52 'S3 '54 'SS 



AGRICULTURE 

Rain stimulates farm activity. Wheat harvesting was under way in counties of North Texas, the Cross Timbers, and the southern Low Rolling Plains in early June, fol­lowing two weeks of rain over much of the state. Summer crop and pasture prospects were brightened by the most favorable June 1 statewide moisture reserves in several years. Tractors moved across Texas farms from early morning until late at night while farmers rushed plant­ing, replanting, cultivating, hay baling, and combining operations. Although scattered showers in parts of the Plains area interrupted field work, the sun soon came out, and the tractors began to roll once more. It was one of the peak weeks of farm activity for the year. 
Farm Cash Income in Texas 
Index· Unadtusted for seasonal variation· 1947-1949 ..100 



~~~~u~~~~~~~~~g~~ 

In sharp contrast, the Lower Valley and much ?f South Texas missed the showers, and the drouth remained un· broken. However, continued rain in other areas of the state brought with it some difficulties. As the first week in June ended, light to flooding rains in central and east~rn counties stopped field work. Combining. of Low Rolh~g Plains and Cross Timbers wheat was mterrupted, with damage in some se~tions from hail and l}eavy rains. Rains also interrupted harvesting of small grains in No.rth Tex~s. Some cotton in the extreme southern Low Rollmg Plams and northern Edwards Plateau counties was damaged by a local sand storm. Heavy rains made further replanting necessary in the northwestern area. . 
Long-awaited thundershowers brought a good moisture supply to many Texas farms and ranches in June but also 
CARLOAD SHIPMENTS OF FRUIT AND VEGETABLES 
Source: Compiled from reports received from Agricultural Marketinir 
Service, U.S. Department of Airriculture 

January-May 
Percent Item 1955 1954 chanire 
TOTAL SHIPMENTS ------22,147 24,347 -9 

FRUIT 1,892 2,219 -15 Cantaloupe --............__........ -....--1,785 1,977 -10 Honeydews 105 17 +520 Watermelons ------------------2 225 -99 
VEGETABLES 16,287 18,592 -12
---------··­

Cabbage 1,908 2,287 -17 Carrota 4,340 4,059 7
-----------------------+ 

Corn 233 480 -51 Cucumbers -··-----------------·----16 52 -69 Onions ·-----··-·-----------­
-----------·--·-··-------------­
3,773 3,950 -4 

Tomatoes 1,586 2,600 -39 Mixed vegetables 4,431 5,164 -14 
·-·-------------·-·-­
··-----------­
3,968 3,636 + 12
ALL OTHER ·------------­
FARM CASH INCOME 
January-May 
Commodity  1955  1954  Percent chana-e  
Value (thousands of dollan)  
TOTAL ____  555,710  542,803  + 2  

Cotton ----­ 132,026  137,844  - 4  
Wheat  ------­ 15,716  8,763  -!. 18  
Oats Corn ____.._____  2,338 3,376  2,188 2,992  + 11 + 11  
Grain sorghum --·-­-­ 16,693  16,271  + 10  
Flaxseed ----­ 1,537  3,820  -60  
Peanuts ----­ 3,279  2,823  + 12  
Cattle ------­Calves Hogs ------­ 139,242 36,834 30,760  133,592 36,161 36,275  + 4 + 1 -15  
Sheep and Jambs ·--­W ool ·-----­ 14,132 6,002  13,593 5,959  + 4 -16  
Mohair -·--·  6,970  4,813  + 45  
Poultry ----­Eggs Mille and milk producta ­Fruit and vegetables _  22,176 32,724 50,532 42,863  20,422 32,609 48,061 36,617  + 9 + 1 + 6 + 17  

Farm cash Income as computed by the Bureau undentates actual farm cash Income by from 6% to 10%. Thia situation resulta from the fact that means of eecurina-complete local marketinp, especially by truck, have not yet been fully developed. In addition, means have not yet been devel­oped for computinir cash Income from all agricultural specialties of local Importance in scattered areas. Thia situation does not impair the ac­curacy of the index 1hown on page 24. 
brought hordes of insects to threaten the crops. Aphid~, boll weevils, grasshoppers, and other pests became a sen· ous threat as the rain washed away poisonous insecticides. By mid-June, grasshoppers were nu_merous. throu_ghout North Texas counties and in the Rollmg Plams region to the west. Aphids and boll weevils appeared in Central Texas and in the North Texas region where ranges and pastures were in excellent condition following the_ rains. 
Over much of the Plains area, in eastern Cross Timbers and northern Edwards Plateau counties, farmers had dif. ficulty in getting and maintaining a stand of cotton. B~at· ing rains and hail were heavy enough to cause . ero~10n, forcing farmers to replant cotton, some for the th~rd time. Survivina early cotton in the northwest was growmg well, and moi~ure was favorable except in parts of the southern High Plains and in South Texas where the drouth con­tinued. Trans-Pecos cotton made good growth as the weather warmed up. South central and upper coastal cot· ton was blooming profusely. 

Range and pasture feed continued to improve in coun· ties of the Low Rolling Plains, Cross. Timb~rs, ~nd Blac_k· lands, as frequent light to heavy rams ma1~tamed m01s· ture. But in much of the southern High Plams grass h~s stopped growing, and moisture is again needed. More ram is also needed to start summer grass in the western Plateau, Trans-Pecos and extreme southern counties. By late June, a lush suppl~ of green feed was available in easte~n Texas, but moisture was getting short and growth slowing, par· ticularly in Northeast Texas. 
As the month moved toward a close, combining of_ oats was progressing rapidly in com:nercial. areas of :\ orth Texas. Baling of alfalfa in the High Plarns an? first cul­
t. a of hay meadows over a wide area were actl\"e. Plant· 
in" H" h Pl .

ing of sorghums in extreme _northi;rn _1g ams cou?· ties became active, and seedrng will gam momentum m 
southern counties of the High Plains as cotton planting winds up. Cotton surplus solution offered. "Texas cotton growers should produce the kind of cotton manufacturers want, and they should price cotton surplus qualities more 
realistically." These two ways to solve the cotton surplus problem in Texas and the Southwest were offered by Lamar Fleming, Jr., member of President Eisenhower's Cotton Advisory Board, at the June 2-4 meeting of the American Cotton Congress in Harlingen. Fleming is chairman of the board of Anderson, Clayton and Company of Houston. 
Fleming said most of ,Texas and Oklahoma continues to produce unwanted 15/16-inch and shorter fiber cotton, and the Upper Rio Grande and Pecos Valleys of Texas and New Mexico continue to produce unwanted qualities of 11/s-inch and longer. The big demand, he said, is for 1 1/32-inch fiber cotton. The speaker gave two major rea­sons for this continued unwanted production: Texas cot­ton farmers are not fully advised about the changes in de­mand and the changes to make in variety plantings, and government loan rates for 15/16-inch and shorter and for 11/s-inch and longer cottons made production of them ap­pear to be the most profitable activity for many south­western farmers. 
Fleming warned that if the Southwest continued to over­
produce unwanted qualities, other states might propose 
another scheme of regimentation that would restrict pro­
ducers of surplus qualities and release the producers of 
scarce and unwanted qualities. He said the Southwest may 
get a dangerous reaction from the rest of the Cotton Belt 
when "the inevitable realization comes of impending acute 
scarcity of the qualities which they produce, and which 
mills principally want, combined with continued severe 
acreage restrictions resulting from a continued tremend­
ous surplus in the Southwest of qualities of which mills' 
needs are relatively small." 
Black fly invades Texas. One of the most troublesome and costly pests known to the citrus industry, the citrus black fly, was spotted on a tree outside a Brownsville 
INDEXES OF PRICES RECEIVED BY FARll-IERS 
(1909-14 = 100) 
Source: Agricultural Marketing Service, U. S. Department of 
Agriculture 

Percent chani'e  
Index  May 1955  Apr 1955  May 1954  May 1955 from Apr 1955  May 1955 from May 1954  

ALL FARM PRODUCTS ____  260  267  272  
ALL  CROPS  ---------­ 255  255  254  x  
Food grains ------------··-·  233  230  229  +  1  +  2  
Feed grains and hay ----··  200  195  197  +  3  +  2  
Potatoes and sweet potatoes.­ 308  316  215  +  43  
Fruit ---------------­ 119  119  83  +  43  
Truck crops  ---------------­ 315  348  363  9  - 13  
Cotton  -------------­ 260  255  259  +  2  x  
Oil-bearing crops ________  274  279  260  2  +  5  
LIVESTOCK AND  
PRODUCTS  -------­ 267  283  297  - 6  - 10  
Meat animals ---------­ 293  319  344  - 15  
Dairy products ______  235  235  226  +  4  
Poultry and eggs __________ Wool ____  213 286  218 304  202 366  2  + - 5 22  

xChange is less than one-ha!! of one percent. 
TEXAS BUSINESS REVIEW 

CARLOAD SHIPMENTS OF LIVESTOCK * 
Source : Bureau o! Business Research in cooperation with Agricultural 
Marketing Service, U. S. Department of Agriculture 

Percent change  
May  Apr  May  May 1955 from  May 1955 from  
Classification  1955  1955  1954  Apr 1955  May 1954  

TOTAL SHIPMENTS 5,100 7,115 4,543 -28 + 12 
Cattle -----­Calves ________  3,995 430  6,005 503  3,463 420  -33 -15  + 16 + 2  
H ogs -------­ 5  2  9  +150  -44  
Sheep  ------­ 670  603  651  +  11  + 3  
INTERSTATE  ___  4,880  6,734  4,214  -28  +  16  
Cattle  3,815  5,722  3,212  -33  + 19  
Calves -------­ 405  433  385  - 6  + 6  
Hogs --------­ 2  0  1  +100  
Sheep  658  579  616  +  14  + 7  
INTRASTATE  -­ 220  381  329  - 42  -33  
Cattle  __________  180  285  251  - 37  -28  
Calves  25  70  35  -64  -29  
H ogs -------­ 3  2  8  + 50  -62  
Sheep ------­ 12  24  35  -50  -66  

*Rail-car basis: cattle, 30 head per car; calves, 60; hogs, 80; and sheep, 
260. 
tourist court in early June. The U. S. Department of Agri· culture said the fly apparently had been carried across the Rio Grande by automobile. 
N. 0. Berry, a uSDA insect expert, said the black fly, not much bigger than a large gnat, had never been found before in Texas, although many years ago it had invaded the citrus producing area around Key West, Florida. The black fly was eradicated there through a very expensive spraying program. 
Spraying began immediately in Brownsville, and Berry hoped the insect's spread would be prevented in the Val· ley. rwo light infestations were reported more than a year ago in northern Mexico, one near Matamoros and the other around Nuevo Laredo. The Mexican government has spent millions of pesos trying to destroy the pest, and the United States has given considerable aid in that effort. 
Cotton fiber testing lab to open. A cotton fiber test· ing laboratory to serve the Lower Rio Grande Valley will open in Brownsville on July 1. Officials of the firm, the United States Testing Company, said key personnel from Dallas and Memphis branches will be transferred to Brownsville for the peak movement of the cotton crop. The laboratory w111give24-hour service. 
The Brownsville branch will be located in a new 1,200· square foot building designed solely for accommodating larger-scale fiber testing. The building is insulated throughout and has complete humidity and temperature controls. 
Company officials said the expansion demonstrates the importance now being placed on fineness tests on indi­vidual bales of cotton and the fact that this information must be reported daily to meet the rapid movement of the crop. ,The company will issue a certification of fineness that will travel with the weight and original warehouse number. The test for fineness will be carried out at no cost to the owner, upon his request, as the cotton is re· ceived at the warehouse. However, costs of additional test­
ing  to  determine  length, strength, or  maturity will be  
charge d to the owner.  
ANNE K. SCHULER  






The Rio Grande 

Climate, soils, minerals -all these are positive factors in the development of the Rio Grande area. With faster transportation and more reliable water sup­plies now being engineered, the Valley's two greatest limitations are losing out 
to progress. 
F
OR almost 890 miles along the Texas border flows the Rio Grande. From El Paso it snakes through desert valleys, high gorges, and finally, thick with silt, meanders across the green coastal plain to the Gulf. But for all its fame and all its economic importance to the state and nation, few Texans see the Rio Grande, except where it flows through widely scattered population clusters. Broad plains and mountains, nearly unpeopled, isolate the Rio Grande Basin from the Texas heartland. 
Few geographers or economists consider a river drain­age basin to be a basic region of land. They delineate their units in terms of soils, vegetation, or economic homogeneity But in Texas, where homes and farms, factories and de­fense units over much of the state depend on impounded surface water supplies, there is a growing tendency to re­gard drainage areas of rivers as economic units. 
Nowhere in the state are Texans more dependent on a stream than in the Rio Grande Basin, for there the river is both a borderline and a lifeline. These southwestern counties have more in common than their peripheral lo­cation and their dependence on the river. They are almost all too dry for easy human occupancy. Their agricultural activities are much the same-irrigation, dry farming, and ranching. With one or two obvious exceptions, such as citrus fruit, their crops are somewhat alike. All the area is mineralized to some degree. Most of the counties are quite dependent on tourism as a source of income, and all have been liberally exposed to Latin-American cultural in­fluences. Even many of their manufacturing specialties are similar. 
Differences between the counties of this area, however, are almost as numerous as their resemblances. The topog­raphy of the land which lies between El Paso and Eagle Pass is much more rugged than along the lower course of the river. Population density varies widely. The length of the growing season increases as one proceeds southeast along the river, and vegetation changes as the stream flows on. 
O
VER 200,000 square miles are drained by the Rio Grande; of these, 40,600 are in Texas. True, much of this Texas land is desert and much is rugged and moun­tainous, so its economic value to the state has some limi­tations. Yet considerable acreages (over 700,000 acres) are irrigated, and crop yields received from the rich alluvial soils ai:e among the nation's highest. The scanty but nu­tritious grasses of the Rio Grande rangelands support a substantial livestock industry. The number of animals that the land can support is limited by aridity. But grasses that do grow in the basin draw a rich mineral content from the relatively unleached soils. Much of the Texas land drained by the Rio Grande has less than 10 inches of rainfall each year, and most of it receives less than 20 inches. 
The disadvantage of dryness is offset, however, by the mild, clear climate that goes with it. In the Valley there is almost always the sun-not always as much water as might be wanted, but always the sunlight, burning, intense in the highlands, thinly veiled with white sea mist in the Lower Valley. Tourists flock south every winter (and in the summer, too) to enjoy the crisp, warm air of the area. The climate has also influenced the establishment of mili­tary training facilities in the basin. Weather and terrain both favor ground and air training and the testing of planes and other military equipment. 
Population along the Texas side of the river is generally sparse. There are, however, three major clusters. The most populous of these is the area between Rio Grande City and Brownsville along the lower course of the river. (See map below.) The four counties of Starr, Willacy, Hidalgo. and Cameron near the mouth of the stream are collectively known as the Lower Valley and are often referred to as "The Valley." Although not officially classified as a 
metropolitan area, cities of the Lower Valley are so close together they appear as one big attenuated city with a series of shopping centers spaced through the city's core. A sec· ond concentration is found at Laredo, and the third is at El Paso, near where the river enters Texas from \"ew Mexico. Smaller agglomerations occur at Eagle Pass and Del Rio. The population nodes at the two Texas extremes of the river's channel are among the fastest growing in Texas. Together they account for roughly 7% of the state's population. El Paso's metropolitan population is now estimated at approximately 250,000, and the Lower Valley contains about 400,000. Away from the river but within its drainage area are Pecos, Fort Stockton, Alpine, and Marfa, none of which exceeded 10,000 in 1950. 

A
LTHOUGH manufacturing income contributes increas­ingly to the economic base of the area, agriculture still yields the largest segment, except at EI Paso, and is quite likely to dominate for some years to come. Cotton, citrus, vegetables, alfalfa, and melons account for the largest acreages. Although some dryland farming is carried on in the area, income from irrigation agriculture is far greater. Cotton grown along the river and its Texas tribu­taries compares favorably in quality with that grown in other similar environments. Emphasis on this crop has in· creased iJJ recent years, because of the government price support program, diversification, and the high yields se­cured. The four counties comprising the Lower Valley harvested only 111,000 hales in 1945; in 1954 the total was 410,000 bales. 
Vegetables grown here are in considerable demand, par­ticularly in midwestern markets. The long growing season enables farmers in the region to plant early and thus to market their produce at strategic times. Two crops of vegetables, and often three or four crops, are grown on the same piece of land in a year. Since the Lower Valley has the longest growing season, such practices are naturally more common in that area. The flexibility that accrues to farmers from the long growing season is the envy of many who farm elsewhere in the nation. For example, if the price of a commodity already planted appears disappointing, a farmer can plow under that crop and replant with some· thing for which the financial return seems more promising. It is this flexibility that has contributed so much to the prosperity of the farmers in that area. 
Almost every vegetable sold in the American market can be grown to advantage in the Lower Valley. Largest acreages are devoted to tomatoes, cucumbers, beans, mel­ons, squash, carrots, lettuce, radishes, cabbages, cauli­flower, eggplant, Irish potatoes, turnips, peppers, and greens. The entire valley is also well adapted to the pro­duction of other specialized crops. For example, during the World War II period of raw material shortages con· siderable attention was focused on guayule, a substitute for natural rubber. Most oilseed crops do well in this en· vironment, too. 

Although it is possible to mature fruit somewhat farther west, commercial citrus production is concentrated in the Lower Valley because the growing season is longer there. The quality of .Texas citrus, particularly' grapefruit, is held in high esteem throughout the nation. Recovery from the disastrous freeze of 1950-51 has been rapid. It is of interest that some of the Lower Valley's leading citizens believe that the freeze was really beneficial, despite the enormous losses suffered. Valley farmers were forced to diversify their crops to a far greater degree than had been customary in the past. Also, the citrus groves were re­planted with better trees by improved methods, and the long-range effects of the replanting are expected to be very beneficial to the Lower Valley's economy. 
Livestock raising is a secondary activity in the irri­gated areas along the river, but on the nonirrigated lands it is the number one agricultural pursuit. The superior quality of the grasses has already been noted. An addi­tional source of sustenance for the livestock of the area is furnished by alfalfa grown under irrigation and by vegetable tops and refuse left in fields after harvest. Al· though beef cattle greatly outnumber milk cattle in the region, dairy cattle are quite numerous near the major population centers. 
INERAL extraction and related activities employ aMsubstantial number of persons in the river basin. Oil and gas have been found in substantial quantities, and re· cent finds have added new reserves to the region's total. Mercury mines near Terlingua in Brewster County are the center of renewed interest now that mercury is command­ing a high market price. Gold, silver, copper, lead, and zinc are known to exist in the El Paso area, but inacces· sibility of deposits and low prices, combined with the marginal nature of some of the deposits, have resulted in lack of interest. However, they could conceivably be· come important in the future. 
In addition to those minerals already mentioned, the Bureau of Economic Geology at The University of Texas reported in 1944 that in the basin there were also occur· rences of limestone, caliche, salt, fluorite, sand and gravel, gypsum, drilling and burning clays, sulfur in the form of gypsite, tungsten, nitrates, marble and other building stones, novaculite, barite, mica, rhyolite, tuff, cement ma· terials, and coals. These coals may have some potential value as chemical raw materials, especially the cannel coals of Webb County. While sporadic production of some of these minerals has occurred in the past, only a few are still being exploited. Yet almost all hold some promise for future development. Prospecting for uranium is active in the upper portion of the river basin but has not met with spectacular success. 
Manufacturing in the Texas cities along the Rio Grande is heavily resource-oriented. However, the region is at· tracting a substantial concentration of apparel manufac· ture, a type of industry which is notably labor-oriented. There are, of course, examples of manufacturing opera· tions which are either power-oriented or market-oriented, but with one or two exceptions they are typical of those which might be found in any American community. 
Food processing is a major manufacturing activity in almost all the cities in the basin. Growth of this activity is in the main closely allied to the expansion of irrigation agriculture in that area. Vegetables, citrus fruit, and other fruits are canned, frozen, packed, and preserved. Fish are frozen in some of the Lower Valley· cities, and meat pack· ing is important at EI Paso. Various Mexican foods are also a manufacturing specialty. Fabrication of wood, pa· per, and polyethylene containers is locally significant he· cause of emphasis on food processing. There is also some manufacture of food processing equipment. 
Three major metal industries are operated within the area. They include the copper smelter of the American Smelting and Refining Company at El Paso and the copper refinery of the Phelps-Dodge Corporation in the same city. The largest antimony smelter in the nation is located at Laredo. None of these large metal-processing installations utilizes local raw materials; all three smelt or refine ores and a~odes shipped in from other states or from foreign countries. 
Construction materials industries have grown along with population in the area. Cement and brick are made at El Paso. One of the largest brick manufacturing plants in the state is located at Mission in the Lower Valley. Siz­able local industries are engaged in the manufacture of ready-mix concrete and concrete pipe used in irrigation. 
Oil refining is significant in two areas. El Paso has three refineries, and there are several more in the Lower Valley cities. Natural gas cycling and fi eld processing plants are found in the Lower Valley area and up the Pc;cos River n~ar the New Mexico border. Natural gas will be the ma1or feedstock for the huge Stanolind plant 
(formerly Carthage Hydrocol) near Brownsville. 
A
PPAREL manufacture, particularly of men's work and 
sport clothing and of children's garments, is a definite 
growth industry in the basin's larger cities. EI Paso boasts 
of being the leading center for the manufacture of men's 
and boys' work and play clothing in Texas, and there is 
no reason to doubt the claim. Large new garment plants 
have been established at Eagle Pass, Weslaco, and Mc­
Allen within the past two years. No figures are available 
on the total value of apparel output nor of total employ· 
ment in the industry, but they are undeniably substantial. 
What is more significant, they are increasing with each 
passing year. 
Proximity to intensively farmed areas has spurred de­
velopment of the fertilizer mixing industry in the border 
cities. Furniture and other woodworking industries are 
also of considerable importance. 
In general, industry in the basin is diversified, and 
chances for additional diversification are promising. It is 
rather difficult to forecast the trend of industry in any 
area, but the cities along the Rio Grande might well 
specialize in the manufacture of any product low in weight 
and high in value. In particular, producers of electronic 
equipment are likely to find the border cities to be prime 
locations for new plants. The manufacture of aircraft 
equipment and the overhaul and modification of planes 
are also types of industry suitable to the area. Air-condi­
tioning and automotive equipment, ceramics, and novel­
ties are other products which probably could be made 
economically in the region. Production to supply the var­
ious needs of the military installations in the region is also 
another possibility. 
Established industries in which expansion seems as­
sured include food processing, construction materials, the 
smelting, refining and fabrication of metals, irrigation 
equipment, apparel, leather products, containers, and fer· 
tilizers. Power, labor supply, and raw materials are all 
adequate for industry. Climate is a very attractive indus­
trial factor. It enables manufacturers to save money on 
construction costs and to carry on many activities out-of· 
doors the year around. The transportation network is gen· 
erally adequate, and the Lower Valley has the additional 
advantage of low-cost water transportation available at 
Brownsville, Port Isabel, Raymondville, Harlin~en, and 
Port Mansfield. 
PEOPLE who live in cities on the Texas side of the river 
naturally have much in common with those who live in northern Mexico. Each of the Texas border cities acts as a gateway to Mexico, and each derives considerable in· come from tourism through its gateway function. 
Furthermore, each Texas border community of any size has a twin city just across the river in l\foxico. Examples of the twin-city relationship include El Paso-] uarez, Pre· sidio-Ojinaga, Del Rio-Acuna, Eagle Pass-Piedras Negras, Laredo-Nuevo Laredo, McAllen-Reynosa, and Browns· ville-Matamoros. Bridges connect the twin cities, and each benefits from trade with the other. Newest of the inter· national bridge links is one which connects the Weslaco and Progreso communities in Hidalgo County with north­ern Tamaulipas. Several additional spans also aid trade and communication between the two nations. Per capita incomes in northern Mexico have increased greatly in re· cent years due to expansion in irrigation and manufactur­ing; gains in prosperity there are almost inevitably re­flected in business expansion on the Texas side. 
But tourist attractions are by no means confined to the area south of the border. Many of the cities in the basin are winter resorts of note; in contrast, Al pine and other towns in the foothills of the southern Rockies are enjoy· ing some increase in popularity as summer resorts. Big Bend National Park draws more visitors each year, al· though most of the accommodations in the park are still rather primitive. Padre Island, the southern extremity of which lies just opposite the river's mouth, is rapidly de­veloping as a resort area, and with the right kind of plan­ning and foresight it has possibilities for becoming among the finest of its type in the world. Hunting is generally good, particularly in the rough country between Eagle Pass and El Paso. The construction of Falcon Dam and smaller dams has opened new recreational areas to the public. Deep sea fishing attracts many to Brownsville and Port Isabel. 
T
HE PEOPLE of the basin have their problems, too. Of these, water is probably foremost, except in years of normal rainfall. But the Rio Grande basin is no freer from long periods of drouth than the rest of Texas. The two major sources of surface water supplies used for irriga· tion and for domestic and industrial consumption in Texas are Elephant Butte Dam in New Mexico and Falcon Dam eighty miles east of Laredo, both on the main channel of the stream. :rhe two resen1oirs are large and, when full, hold enormous quantities of water, but there is no guar· antee of ample supply without normal rainfall. Supplies from these dams are supplemented from wells, from siphoning off water from the main stream and its tribu· taries, and from other smaller dams. 
The area's annual water loss from evaporation is huge and is a challenge to technologists. It has e\'en been sug­gested that a roof be built over the river between Elephant Butte and El Paso so that the amount of loss might be cut. One accomplishment in reference to the water prob­lem is outstanding-water loss other than through ernp· oration is held to a minimum. Farmers in the area ha\'e made much progress through experimentation with meth· ods for making the most effective use of irrigation water; in the Pecos Valley use per acre has been cut as much as 50% with no decrease in crop yields. Civic leaders of the region have tagged the water situation as a problem which must be solved as soon as possible. 

At present there is little possibility of bringing much additional land under irrigation, although large tracts are suitable for irrigation if water were available. Similarly, the chances for attracting large·scale industries using sub­stantial quantities of water are limited. However, water shortages present no particular threat to domestic use in most municipalities. A solution of the problem may be some years in coming, and whether the solution will re­sult in diverting water into the Rio Grande watershed from other streams or whether supplemental water will be se­cured from some other source is for the people of the basin and of all Texas to decide. 
The practice of meeting seasonal peaks in labor demand through the importation of laborers from Mexico is an­other dilemma facing the people of the region. Chances for reaching a satisfactory settlement in this matter are considered good. 
Relative isolation within the region, state, and nation because of border location is another problem, but it is one which is rapidly being overcome through modern means of transportation and communication. Fresh pro­duce from the irrigated areas now reaches major consum­ing markets in an amazingly short period of time. Distri· bution of manufactured products has been speeded up enough that transportation is not considered to be a seri­ous handicap to manufacturers operating in the cities. El Paso, at a major crossroads location, does not suffer in this respect, but in some other cities distribution problems have been a possible deterrent to the expansion of manu­facture. 
Even the most optimistic residents of the basin have been astonished at the rapid development of the area since World War II. And greater progress seems possible dur· ing the next decade. 
STANLEY A. ARBINGAST 
Bureau of Business Research Publications 


Industrial Expansion in Texas 
Second quarter, 1955 

by Stanley A. Arbingast a.nd Tina Piedrahita 
A listing of new plants and plant expansions an­nounced during April-June 1955, together with data on ~ost, number of employees, and products. Single copies free upon request; yearly subscription, fifty cents. 


Texas Resources and Industries 
Selected Maps of Distribution 
by Stanley A. Arbingast, 
Associate Professor of Resources 
Forty-two maps delineate the distribution of manu­
facturing plants and the locations of raw materials 
used in Texas industry. Price, one dollar. 
(Continued from page 5) 

More house, more money. Higher home prices builders say, often represent "more house" as well as cost'. lier building. Some builders report adding a "half bath· roo~" to homes and charging more; buyers apparently co~s1der the extr~s worth the premium price. The selling pnce of a h?me, hke the cost of a car, is commonly subject to some adiustment, as the market may dictate. So even though a builder boosts his asking price, he may have to bypass the raise to make a sale, especially if there should be any drop in housing demand. 
A Houston builder notes that he may "lower prices a little on the houses I have left, in order to sell." Most builders planning price rises blame higher lumber and labor costs, although some other expenses are up, too. Another Houston contractor relates that he is paying $120 for a thousand board feet of fir lumber, against $ll5 as recently as late May. And in July his water meter instal­lation costs will jump to $55 from $35. So far builders have commonly been absorbing the higher cost of ma­terials, but with labor costs rising and the cement shortage pointing to an increase in the cost of that product, prices are forced up all the way to the end of the line-the cus­tomer. 
The concrete problem. Cement costs and shortages are. a major problem for many builders. Some are getting the1~ cem~nt but paying stiff transportation charges for it. While bmlders generally say they are planning or pouring foundations at an undiminished rate, some report that they are slowing up a bit. 
Due to an unseasonably mild winter, cement stockpiles normally available at the beginning of a construction sea· son have been depleted during the past five months. Ce­ment plants are producing at an all-time high. A new monthly U. S. production record was set in March with the output of 22.4 million barrels, representing operations at 90% of the total rated capacity for the industry. The 
2.0 million barrels produced in Texas that month rep· resented 97% of the state's capacity. U. S. shipments rose 64% from February to March. The 22.6 million barrels shipped (over 10% of which was from Texas) set a new record for the month. For the first three months of 1955 shipments in the United States reached 50 million barrels compared with over 5.6 million barrels shipped in Texas. 
Other shortages develop. Fabricated structural steel may join cement on the "critical list" if bookings continue at the rate of the first four months of this year. Bookings during this period ran 10% ahead of shipments. A critical shortage of gypsum board is troubling homebuilders in many sections of the country. Some mills have had to re· sort to allocations to ease pressure of demand. 
Construction offers more new jobs. Construction continues to hold the lead among nonmanufacturing indus· try groups. Substantial job additions that began in Feb· ruary are to be followed by more during the 60-day fore· cast period of the Texas Employment Commission. The number of workers now on construction jobs is already higher than at any time during 1954 and is 15% greater than in April 1954. 
Jo OVERSTREET 

LABOR 

Employment in Texas continued to rise steadily through June, and additional increases are predicted for July by Texas Employment Commission officials. Seasonal gains are anticipated in construction, cotton harvesting, ice cream factories, and soft drink bottling plants. After hav­ing lagged in the forepart of the year, manufacturing is expected to take the lead in job advances in mid-June and July. 
Although total employment increased during May, a moderate decrease in employment and a sharp upswing in unemployment is in prospect for several labor mar­kets. Corpus Christi, Lubbock, Port Arthur, and Texar­kana registered decreases in employment during May. Dallas employment, after passing the year's peak of 318,470, began to level off by the middle of June in the usual summer slump. F. E. James, Dallas district ,TEC director, estimated employment may rise as high as 11,030 by mid-July because of the big influx of high school and college graduates seeking jobs. However, the employment level, highest so far this year, was 8,653 above the total at the same time last year. It is expected to run up toward 319,000 by the time schools reopen in September. 
Employment gains were registered in Abilene, Ama­
rillo, Austin, Beaumont, Longview, San Angelo, San An­
tonio, and Waco. At Amarillo a steady upturn during the 
past three months brought gains to practically all major 
industry groups and raised employment 2.3% above the 
May 1954 sum. 
Austin recorded another new all-time high during May, when TEC officials estimated nonfarm employment at 64,780 workers, an increase of 3,555 over a year before. 
In Houston, increasing employment and declining unem­ployment were accompanied by a general rise in wage rates. 0£ 114 job categories listed by the Employment and Wages Division of the Houston Chamber of Com­merce Research and Statistics Committee, 86 showed wage rate increases, 18 showed wage decreases, and 10 were unchanged. All job classifications in the baking indus­try showed base pay increases, on the average, and most categories in the food-meat packing industry and chemi­cal manufacturing industry' likewise showed average gains. 
TEC to study new contract. Attorneys for TEC report 
that the effect of unemployment benefits of Texas workers 
for Ford and General Motors will depend on a legal inter­
pretation of the new contracts. 
Lee Williams, attorney for TEC, maintains that the 
state unemployment act requires that in order to collect 
benefits, a Texas worker must be unemployed. An unem­
ployed worker would be one who is collecting no regular 
compensation. Williams said the Attorney General prob­
ably will be asked for a ruling on the status of the pay­
ments of laid-off workers who continue to receive money 
from their employer. 
Texas labor legislation. The Ford bill, growing out 
of a strike a few years ago in which workers in the Ford 
assembly plant at Dallas were idled by a strike of the 
same union in a Michigan plant, received final legislative 
approval and was sent to Governor Shivers. 
The bill stops payment of unemployment benefits to 
persons made idle by a strike of fellow union members who supply parts and permits payments only to persons who can proYe they are "not participating in or financ­ing or directly interested in the labor dispute which caused the stoppage of work" and do not belong to the group engaged in the dispute. 
TINA PIEDIHHITA 
ESTIMATES OF NONAGRICULTURAL EMPLOYMENT 
Source: Texas Employment Commission in cooperation with the Bureau of Labor Statistics, U. S. Department of Labor 
Percent change Employment (thous) May 1955 May 1955 May Apr May from from Industry 1955• 1955 1954 Apr 1955 May 1954 
TOTAL --------------­--2,238.3 2,230.4 2,173.4  x  + 3  
TOTAL  
MANUFACTURING -431.7 425.3 422.2  +  2  + 2  
Durable goods----------­203.9 200.7 197.4  +  2  + 3  
Ordnance ---------------­2.5 2.6 3.8  -34  
Lumber and wood products 26.4 25.7 23.6  +  + 12  
Furniture and fixtures ----­10.9 10.7 10.1 Stone, clay, and glass.___ 15.6 15.5 15.0  + +  2 1  + 8 + 4  
Primary metals -----------­25.4 25.1 23.8  +  + 7  
Fabricated metal products 18.7 18.3 18.6  +  + 1  
Machinery, except  
electrical ---------------­37.4 36.5 35.6  +  2  + 5  
Electrical equipment ·-­5.5 5.3 5.0  +  4  + 10  
Transportation equipment 53.4 53 .1 54.6  +  -2  
Other durable goods _______ 8.1 7.9 7.3  +  + 11  
Nondurable goods ------­227.8 224.6 224.8  +  1  + 1  
Food ---------------­62.6 59.6 62.3  +  5  x  
Textile mill products ___ 8.0 8.1 8.8  - 1  
Apparel -------------------­31.1 31.3 29.1  - 1  + 7  
Paper and allied products.. 7.3 7.2 7.2  +  1  + 1  
Printing and publishing ___ 25.9 26.0 25.5  x  + 2  
Chemicals and allied  
products ---------------­39.4 39.4 39.0  +  
Petroleum products -----­46.9 46.8 47.2  x  
Leather and leather  
products ------------------­4.1 3.8 3.2  +  8  + 28  
Other nondurable goods ---­2.5 2.4 2.5  +  4  0  
TOTAL NONMANU­ 
FACTURING ------------1,806.6 1,805.1 1,751.2  x  + 3  
Mining ---­-------------------­122.6 122.0 120.9  x  + 1  
Petroleum and natural gas 115.1 114.5 113.5  +  1  + 1  
Metal, coal, and other  
mining ----------------­7.5 7.5 7.4  + 1  
Contract construction -------­164.1 162.7 146.0  +  1  + 12  
Transportation and uti1ities.. 220.5 219.2 219.6  +  x  
Interstate railroads -----­58.4 58.0 58.1  +  +  
Other transportation ____ 87.7 87.1 88.3  +  1  
Telephone and telegraph ___ 35.4 35.2 35.5  +  1  x  
Public utilities ----------­39.0 38.9 37.7  x  + 3  
Government ­--------------­--­334.6 337.1 322.8  - 1  + 4  
Trade ----------------------------­598.2 599.1 581.4  x  + 3  
Wholesale trade ----------­155.2 154.9 151.5  x  + 2  
Retail trade -------------­443.0 444.2 429.9  x  + 3  
General merchandise ---­72.3 73.5 71.2  - 2  + 2  
Food and liquor stores _ 83.9 83.4 79.4  +  1  + 6  
Automotive -----------------­49.8 49.6 49.2  x  + 1  
Apparel ---------------------­29.1 31.1 28.6  + 2  
Other retail trade --------­207.9 206.6 201.5  +  1  + 3  
Finance, insurance, and  
real estate -~---------------­100.3 100.1 97.9  x  + 2  
Banks and trust companies 25.1 25.1 24.8  +  
Insurance ---------------­-----­43.6 43.7 42.4  x  +  
Real estate and finance ­---­31.6 31.3 30.7  +  1  + 3  
Service and miscellaneous __ 266.3 264.9 262.6  +  1  + 1  
H otels and lodging places . 25.8 25.7 26.1  x  
Laundries and cleaners ___ 30.3 29.9 30.1  +  1  .J_ 1  
Other business services --­210.2 209.3 206.4  x  + 2  
xChange is less than one-half of one percent.  
•Preliminary.  

TEXAS BUSINESS REVIEW 


Local Business 


Percentcliange Percent cliange 
May 1965 May 1956 May 1966 May 1955 May from from May from from City and item 1955 Apr 1956 May 1954 City and item 1966 Apr 1966 May 195' 
BAYTOWN (pop. 22,983)ABILENE (pop. 55,000r) Postal receipts ---------------------$ 14,691 -11 -7 Building permits, less federal contracts .$ 493,465 + 22 +290
Reta il sales --------------------------------+ 6 + 8 Bank debits (thousands) ---------------$ 17,738 2
Department and apparel stores --------­-6 + 7 + 8 
End-of-month deposits (thousands) L ---$ 22,938
Postal receipts --------------------------$ 71,407 + 13 + 16 3 + 21 
Annual rate of deposit turnover__________ 
9.1
Building permits, less federal contracts..$ 1,367,767 -23 +120 8 Bank debits (thousands) ______________________$ 69,523 + 10 + 34 Employment (area) ----------------------377,600 + + 6 Manufacturing employment (area) ____ 83,675
End-of-month deposits (thousands)*-----$ 59,025 + 1 + 13 + + 4 Annual rate of deposit turnover_____________ 14.2 Percent unemployed (area) -----------------3.3 -23
+ 9 + 18 EmJ>loyment -------------------------------------------28,150 + 1 + 6 Manufacturing employment ---------------­3,200 + 1 x BEAUMONT (pop. 104,416r) Percent unemployed -----------------------4.4 + 7 -16 Retail sales• -------------------------------+ 4 +24 
Automotive stores• --------------------+ 8 + 44 Department and apparel stores_______ 

5 x ALICE (pop. 16,449r) Eating and drinking places• --------­x -10 Food stores• -----------------------­+ + 1
Postal receipts -------------------------------$ 10,426 -4 -6 Lumber, building material,Building permits, less federal contracts .$ 220,762 + 87 +360 
and hardware stores*--------------+ 6 + 45Bank debits (thousands ) -----------------$ 7,511 + 2 -35 

Postal receipts -------------S 93,486 + 18 + 19
End-of-month deposits (thousands)*-----..$ 11,286 -3 -17 Building permits, less federal contracts $ 739,089 -38 + 57
Annual rate of deposit turnover_____________ 7.8 -23
+ 22 

Bank debits (thousands) ----------$ 129,178 + 9 + 16 End-of-month deposits (thousands) t ------S 96,568 -6 + 2 Annual rate of deposit turnover__________ 

16.6 + 11 + 11
ALPINE (pop. 5,261) 

Employment (area) ---------------------81,100 x + 4 
Postal receipts ------------------------------------$ 2,882 -7 -13 Manufacturing employment (area) ____ 26,500 x x Building permits, less federal contracts $ 6,000 -86 -96 Percent unemployed (area) -----------6.2 2 Bank debits (thousands) ---------------------$ 2,223 + 2 + 6 
End-of-month deposits (thousands) t ____$ 3,868 2 
BEEVILLE (pop. 10,500r)

Annual rate of deposit turnover___________ 6.8 
+ + 8 Postal receipts ----------------------------$ 7,346 + 5 + 20 Building permits, less federal contracts .$ 117,426 + 10 + 21 Bank debits (thousands) -----------------$ 7,669 + 1 + 21AMARILLO (pop. 108, 034r) End-of-month deposits (thousands) t -----$ 12,432 2 + 8 Annual rate of deposit turnover_________ 7.3 + + 11
Retail sales• -------------------------------------+ + 28 Automotive stores* -------------------------­+ + 39 Department and apparel stores ---------9 x BIG SPRING (pop. 20,654r) Drug stores• -------------------------------·---+ 3 Retail sales ------------------­+ 10 + 82 Food stores• ---------------------------------------x 
Automotive stores --------------------------+ 19 +m Furniture and household Department and apparel stores__________ 
9 + 2 

appliance stores• ----------------------------­+ 8 + 32 Lumber, building material, 
Lumber, building material, 

and hardware stores ------·------------------+ 6 + 15 and hardware stores* -----------------------+ 25 + 22 Postal receipts ------------------------------------------$ 18,083 + 13 + 8 
Postal receipts ---------------------------------------$ 131,087 + 3 + 12 Building permits, less federal contracts $ 119,785 -53 
+140 Building permits, less federal contracts $ 2,644,929 + 34 +no 
Bank debits (thousands) -------------------· $ 25,622 + 6 + 27 E'nd-of-month deposits (thousands)*·-----$ 23,917 -+ 4
Bank debits (thousands) ---------------------$ 148,334 2 + 23 8 
End-of-month deposits (thousands)*-----$ 108,318 + + 12 Annual rate of deposit turnover____________ 12.3 + 10 + 18 Annual rate of deposit turnover_____________ 16.6 
+ 11 

Employment ----------------------------------------44,400 + + 3 
BORGER (pop.18,059)

Manufacturing employment ---------------6,220 + 2 + 12 Building permits, less federal contracts $ 160,478 + 61 +200
Percent unemployed --------------------------4.8 + 2 -6 Bank debits (thousands) ----------------------$ 13,616 2 + 24 End-of-month deposits (thousands) t ___$ 14,807 + 13 
AUSTIN (pop. 168,500r) Annual rate of deposit turnover___________ 11.0 + 11 
Retail sales ----------------------------------­-9 + 11 Automotive stores -------------------------------10 + 21 BRENHAM (pop. 6,941) Department and apparel stores___________ + 28
9 + 6 Postal receipts ----------------------------------$ 6,809 + 12 +
Eating and drinking places ---------------3 + 14 Building permits, less federal contracts..$ 63,947 -40 + 13 Food stores -----------------------------------------+ 6 2 Bank debits (thousands) ---------------------$ 6,697 + 2 Lumber, building material, End-of-month deposits (thousands) t -----S 10,362 2 + 
and hardware stores ------------------------17 + 7 Annual rate of deposit turnover__________ 6.6 Postal receipts ---·-------------------------------$ 248,839 + 7 + 16 Building permits, less federal contracts.$ 4,247,868 + 15 + 20 
BROWNSVILLE (pop. 36,066)

Bank debits (thousands ) --------------------$ 142,176 + 5 + 22 Retail sales• ----------------------------_____ + 12 End-of-month deposits (thousands ) t ------$ 116,093 1 
+ 9 Automotive stores• -----------------+ 15
Annual rate of deposit turnover___________ 14.6 
+ 4 + 10 Lumber, building material, Employment ---------------------------------64,800 + + 6 + 42
and hardware stores• ---------------+ 15 

Manufacturing employment --------------4,640 + 2 9 +no
+ Building permits, less federal contracts_$ 213,188 + 76 Percent unemployed ----------------------------3.2 -24 
For explanation of symbols, see paire 23. 

JULY 1955 

Conditions 

Percent change 
Percent change 
May 1955 May 1955 May 1955 May 1955
May from from

City and item May from from
1955 Apr 1955 May 1954 City and item 1955 Apr 1955 May 1954 
BROWNWOOD (pop. 20,181) DALLAS (pop. 538,924u) 

Retail sales --------------------------------+ 6 + 6 Retail sales• 
-4 + 6
Automotive stores --------------------+ 43 + 10 
Apparel. stores• -------------­-12 -8
Department and apparel stores._________ 

-18 -5 Automotive stores• 
x + 31
Furniture and household Department storest=~~=== + 11
appliance stores --------------------------­+ 19 

+ 10 Eating and drinking places• ------­15
+ ­Postal receipts ----------------··------------------$ 15,645 

-4 + 5 Food stores• ---------------­4 4
Building permits, less federal contracts $ 185,490 +4150 +
+900 Furniture and household Bank debits (thousands) ----------------$ 10,540 
+ + 13 appliance stores• --------­19
End-of-month deposits (thousands) t ---·$ 13,679 1 +
+ 5 General merchandise stores• ----­7 xAnnual rate of deposit turnover________ 
9.2 + 6 + 8 Jewelry stores• ----------­+ 11 
+ 

Lumber, building material, BRYAN (pop. 23,883r) and hardware stores• --------­-11 + 23 Office, store, and school
Retail sales* ---------------------------------+ 2 + 2 supply dealers• ------------15
Automotive stores• -----------------9 6 + 
Department and apparel stores. ______ Postal receipts ------------$ 1,574,111 + 6 

+ 
+ Building permits, less federal contracts $12,807,131 x + 23Food stores• ------------------------------------+ 6 -15 Bank debits (thousands) ____ ______$ 1,961,208 (

Lumber, building material, + + 17 End-of-month deposits (thousands) t----$ 979,749 1 7
and hardware stores• -----------------­+
+ Annual rate of deposit turnover____ 24.0
Postal receipts -----------------------------$" 17 ,593 3 + 3 + 8
+ 
Building permits, less federal contracts_$ 303,120 -18 + 180 Employment -----------------313,500 x + 
Manufacturing employment ------77,700 x 

+ Percent unemployed --------2.5 -24
CIDLDRESS (pop. 7,619) 

Retail sales• ---------------------------------­+ 11 + 9 Automotive stores• ----------------------+ 14 + 29 DEL RIO (pop.14,211)Department and apparel stores.________ 
-11 + 8 Postal receipts __ ----$ 10,017 8 6

+ +Filling stations• -----------------------------­+ 9 + 7 

Building permits, less federal contracts. $ 123,370 + 48 + 97 Food stores• ---------------------------­-2 + 2 Bank debits (thousands) $
_______ 8,958 8
+ +
Lumber, building material, End-of-month deposits (thousands) t--$ 11,854 

+ +

and hardware stores• -----------------+ 26 -11 Annual rate of deposit turnover___ _ 9.1 Postal receipts --------------------------------$ 4,082 + 16 + 2 Building permits, less federal contracts..$ 12,550 +250 + 99 
EAGLE PASS (pop. 7,276) CORPUS CHRISTI (pop. 122,956u) Postal receipts ------------$ 4,228 -7 -9 
:Building permits, less federal contracts..$ 11,635 -59 -17Retail salea ---------------------------------4 + 6 Bank debits (thousands) ________$ 4,300 6 + 14
Apparel storea --------------------------­-24 + 4 ­
End-of-month deposits (thousands) t -S 4,065 -15 + 7Automotive stores ----------------------------­+ 3 + 12 Annual rate of deposit turnover_____ 11.7 -8 -10
Department storest --------------------­5 + 12 
Lumber, building material, 
and hardware stores -------------------·-­8


+ EDINBURG (pop. 12,383)
Postal receipts --------------------------------$ 122,371 4 + 2 Building permits, less federal contracts..$ 1,999,481 -49 -37 Postal receipts ---------------$ 7,343 -10 + 3 Building permits, less federal contracts $ 72,240 + 25 +1600
Bank debits (thousands) --------------------.$ 160,441 3 + 9 End-of-month deposits (thousands) t -$ 104,034 2 -12 Bank debits (thousands) --------$ 8,901 + 24 + 4 Annual rate of deposit turnover___________ 18.2 + 15 End-of-month deposits (thousands) t----$ 8,712 + 27 -5 
Annual rate of deposit turnover______ 13.7 + 12 + 23
Employment ------------------·-----------------62,300 0 + 3 Manufacturing employment -------------·­8,060 x + 2 Percent unemployed ·-----------------------6.8 + 19 
EL PASO (pop. 182,505r) 

Retail sales• ---------------­-11 + 10 CORSICANA (pop. 19,211) Apparel stores ---------------­-16 + 11 Department and apparel store sales._______ -3 x Department storest --------------­-11 + 
Postal receipts ---------------------------------$ 12,848 0 Drug stores• -----------------­+ 4 + Building permits, less federal contracts $ 68,550 -56 -16 General merchandise stores• -----­-14 + 6 Bank debits (thousands) ------·-------------·$ 13,257 5 + 
7 Lumber, building material, End-of-month deposits (thousands) t----$ 21,658 + 4 and hardware stores• ---------+ 
9 + 41 Annual rate of deposit turnover___________ 7.3 + Piano and musical instrument stores• -21 -4 Postal receipts ----------------·· $ +
192,539 -4 4 Building permits, less federal contracts $ 2, 701,604 -25 + 22
DENISON (pop. 17,504) 

Bank debits (thousands) ____________$ 214,975 + 23 -6 + 16
Retail sales --------·------~-------··-----------End-of-month deposits (thousands) t .....$ 127,863 + 6 
Department and apparel stores.__________ -20 + 14 

Annual rate of deposit turnover ------­20.0 + 15 Postal receipts -----------··------·------··$ 12,400 -2 -14 Employment --------------------74,600 + + Building permits, less federal contracts $ 72,306 + 21 + 91 11,740 2
Manufacturing emp1oyment ------­+ + Bank debits (thousands ) --------------------·$ 12,794 + 5 + 12 
Percent unemployed ---------4.4 + 22 End-of-month deposits (thousands) t . ____$ 19,676 + + 6 Annual rate of deposit turnover___________ 7.8 3
+ + 
For explanation of symbols, oee paiie 23. 
TEXAS BUSINESS REVIEW 

LOCAL BUSINESS CONDITIONS 

Percent change Perrent chanKe 
City and item  May 1955  May 1955 from Apr 1955  May 1955 from May 1954  City and item  May 1955  May 1955 from Apr 1955  May 1955 from May 1951  
FORT WORTH (pop. 315,578u) Retail sales• --------------------------------­Apparel stores• ----------------------------­Automotive stores• -----------------------­Department storest ------------------------­E ating and drinking places• ---------­Filling stations• --­---------------------------­Food stores• ------------------------------------­Furniture and household appliance stores* ------------------------­General merchandise stores• ------­Lumber, building material, and hardware stores* -------------------­2 -10 + 7 + 4 + 1 -10 + 23 8 + 4  + 10 + 6 + 29 + 12 + 5 + 41 -12 + 16 + 10 + 19  GREENVILLE (pop.17,500 r) Retail sales• ---------·--------­Department and apparel stores..______ Food stores• ---­--·--­-----·------·-·---·-­Lumber, bullding material, and hardware stores• ------------------­Postal receipts --·--------·---··-·-----------$ Building permits, less federal contracts._$ Bank debits (thousands) ------------·----$ End-of-month deposits (thousands) t ----$ Annual rate of deposit turnover__________ 17,154 63,056 11,397 14,260 9.5 + 1 -20 -9 + 27 + 5 -44 4 2  -2 -8 -5 +16 +76 + 4 6 +  
Postal receipts ---------------------------------$ 513,508 Building permits, Jess federal contracts S 4,189,733 Bank debits (thousands) -------------------$ 597,608 End-of-month deposits (thousands ) t--­---$ 362,226 Annual rate of deposit turnover__________ Employment --------------·--------­Manufacturing employment -------------­Percent unemployed --------------------------­20.0 181,300 52,975 4.6  2 -30 + 6 + 2 + + + 8  + 7 + 27 + 18 + 9 + 9 + + 6  HENDERSON (pop. 6,833) Retail sales• ------·--------·----­----··----·---­Automotive stores• -----------------------­Department and apparel stores________ Food stores• ---------------------·--­Lumber, building material, and hardware stores• ----­------------­--Postal receipts --------------------­---------­$ 7,173  + 9 + 16 5 + +  +20 +30 + 6 -7 -4  
GALVESTON (pop. 71,527u) Retail sales ---------------------------------­Department and apparel stores________ Food stores -------------------------------­ + 2 -10 -21  +  8  Building permits, less federal contracts­$ Bank debits (thousands) ---···-------··-$ End-of-month deposits (thousands) t .-.$ Annual rate of deposit turnover_______ 45,500 5,902 13,850 5.1  -18 + 1 2 +  -57 +18 + 4 +13  
Lumber, building material, and hardware stores -------------------­Postal receipts ----------------------------------$ Building permits, less federal contracts $ Bank debits (thousands) -----------------------$ End-of-month deposits (thousands ) L---$ Annual rate of deposit turnover___________ Employment (area) -------------------­Manufacturing employment (area) ___  68,188 323,488 77,744 70,530 13.3 45,450 11,290  + 11 + 1 + 2 + + + 1  + 9 + 9 + 13 + 6 + 7 + 8 + 2  HEREFORD (pop. 5,207) Postal receipts -··------------------------·-----$ Building permits, Jess federal contracts $ Bank debits (thousands) ---------------------$ End-of-month deposits (thousands) t---S Annual rate of deposit turnover_______ 4,537 148,450 8,240 9,538 10.0  -8 -14 + 1  -1 + 39 +20 + 11 + 5  
Percent unemployed (area)  ---------­ 6.0  3  + 2  HOUSTON  (pop. 700,508 u)  
GARLAND (pop. 10,571) Postal receipts --··--------------·-------·-·---···---$ 12,238 Building permits, less federal contracts__ $ 965,689 Bank debits (thousands ) -------------·--$ 13,570 End-of-month deposits (thousands) t------S 11,991 Annual rate of deposit turnover________ 13.7 GIDDINGS (pop. 2,532)  -9 -22 + 10 + 2 + 11  + 16 + 120 + 34 + 21 + 13  Retail salesIT ------------------------·­Apparel storesIT ------------------·-·------­Automotive storesIT --·-------·---------­Department storest ---·-·---····-··---­-----­Drug storesU -----------------­Eating and drinking placesIT ------­Filling stationsR ---·-------·------­·-­Food storesU --------------··--··-··-­··-----·-·-· Furniture and household  + + + + +  x x  + 17 + 7 +48 + 8 + 10 -1 + 21 + 10  
Postal receipts ---------------------·-····--------···$ 2,499 Bank debits (thousands) -------------------$ 1,722 End-of-month deposits (thousands ) t ____$ 4,071 Annual rate of deposit turnover_______ 5.0 GLADEWATER (pop. 5,305) Postal receipts ------------··--------------$ 5,116 Bank debits (thousands ) -----··-------·-----$ 4,223 End-of-month deposits (thousands ) t----­$ 3,923 Annual rate of deposit turnover._________ 12.7 Employment (area) --------------·---·------­24,050 Manufacturing employment (area ) __ 3,840 Percent unemployed (area ) ---------------­5.1  + 17 + 2 1 + 2 + 7 + + + 1 + 4 -12  + 34 3 2 x + 15 4 + 17 x 5 0  appliance storesff -----------------­-----­General merchandise storesU ---------­Liquor storesIT ·----------·-----·-----­Lumber, building material, and hardware storesY ---------­-Postal receipts ·------------------------$ 1,440,214 Building permits, Jess federal contracts $17,829,287 Bank debits (thousands) ----------·--------$ 1,958,523 End-of-month deposits (thousands) t ___$ 1,153,833 Annual rate of deposit turnover__________ 20.3 Employment (area) ------------··---·----­377,600 Manufacturing employment (area) ·­--83,675 Percent unemployed (area) --------------­3.3  + 4 7 + 8 + 47 + 11 + 7 1 + 7 + +  + 16 + 11 -1 + 24 + 50 + 61 +15 + s + 13 + 6 + 4 -23  
GONZALES (pop. 5,659) P ostal receipts ---·----------------------····---$ 3,745 Building permits, less federal contracts $ Bank debits (thousands ) ----·-·--··-·---------$ End-of-month depos its (thousands ) t----·-$ Annual r ate of deposit turnover___________ 21 ,550 4,719 6,396 9.1  + 5 -53 1 + 7 5  -3 + 23 + 7 + 3 +  JASPER (pop. 4,403) Retail sales• --------------·-----···--··--··---------­Automotive stores* ---------------------·-­Food stores• -----------------····--------­General merchandise stores* ----------­Lumber, building material,  + 5 + 12 -9 -16  
HARLINGEN (pop. 30,038r) P ostal receipts ---·----------·----·----·--·---·-·--------$ 24,747 Building permits, less federal cont racts .$ 147,280 Ba nk debits (thousands ) -·----------·-----$ 28,363 End-of-month deposits (thousands ) t_____ $ 19,973  + 2 -65 1  + 10 + 7 + 19 + 11  and hardware stores* -----------­----­Postal receipts -------------------·-­--·---·-----------$ Bank debits (thousands) ··-·---·----------····-$ End-of-month deposits (thousands) t_
___ $ Annual rate of deposit turnover__________ 4,556 4,784 6,371 9.1  + 21 -1 -13 + 1 -12  + 4 -8 +17 -17  
Annual rate of deposit turnover _____  17.0  +  +  8  For explanation of symbols, see page 23.  

JULY 1955 
LOCAL BUSINESS CONDITIONS 
Percent change  Percent change  
City and item  May 1955  May 1955 from Apr 1955  May 1955 from May 1954  City and item  May 1955  May 1955 from Apr 1955  May 1955 from May 1951  
KERMIT (pop. 6,912) Postal receipts _______ -------------------------------$ Building permits, less federal contracts $ Bank debits (thousands) -----­----­----­·-----3 End-of-month deposits (thousands) t _ $ Annual rate of deposit turnover____.______ 4,676 24,200 3,452 3,023 13.9  + 10 -80 + 9 + 4 + 21  + 7 -42 + 21 + 1 + 17  LONGVIEW (pop. 34,328 r) Postal receipts ··-··-------·­_ __ $ Building permits, less federal contracts $ Bank debits (thousands) ____________ $ End-of-month deposits (thousands ) t _ $ Annual rate of deposit turnover _ _ _ 28,7 7 437 ,645 32 ,636 36,760 10.  + 9 + 33 -t­2  T +  3  
KILGORE  (pop. 9,638)  Employment (area) ______ Manufacturing employment (area)  24 ,050 3, 40  ..L  I 4  x  
Postal receipts _------··-····-------··-----···--· __ Building permits, less federal contracts  $ $ 10,330 85,484  + 9 -27  + 18 17  Percent unemployed (area)  5.1  - 12  0  
Bank debits (thousands) ----·· ___ ·--·-·----$ End-of-month deposits (thousands)t .. $ Annual rate of deposit turnover ....... . Employment (area) _________ ____-····--------· Manufacturing employment (area) Percent unemployed (area) ....... --------····-· 13,985 15,316 11.0 24,050 3,840 5.1 KILLEEN (pop. 21,076r) Postal receipts _____ ·--------·-----­--····-·-·-·---$ Building permits, less federal contracts $ 27,060 506,782  + 12 + 1 + 12 + 1 + 4 -12 + 8 + 72  + 15 + 8 + x 5 0 + 27 +160  LUBBOCK (pop. 117,886r) Retail sales ----··----­____ --· _ Department and apparel stores Lumber, building material, and hardware stores ____ Postal receipts -· -·------. -·-· .. _ $ 91,274 Building permits, less federal contracts $ 3,051,003 Bank debits (thousands) $ 120,075 End-of-month deposits (thousands) t $ 96,500 Annual rate of deposit turnover 14 .6  IO " + + 55 3 3 3  T 24 -'­20 -8 ~ 15 + 46 ..L 31 + 21 -7  
Bank debits (thousands ) _____ ··-·-----· ... End-of-month deposits (thousands ) t .  $ $ 8,069 5,753  " 3  + 29 -40  Employment Manufacturing employment  42,300 4,430  x  ' 7 + 13  
Annual rate of deposit turnover .  16.6  +  + 120  Percent unemployed --· __  __ __  4.3  - 25  
LAMESA  (pop. 10,704)  LUFKIN  (pop. 15,135)  
Postal receipts  --·-···---------··--__  .... --··---·­ $ 7,706  + 17  + 16  Postal receipts  --····· __ ··--­ 13,621  9  x  
Building permits, less federal contracts Bank debits (thousands) -·-·----·------·  $ $ 9,400 8,186  -77 9  -9 + 31  Building permits, less federal contracts Bank debits (thousands) -··­ $ $ 354,700 I ,334  +  110 + 35  
End-of-month deposits (thousands) t .  $ 11,928  + 15  End-of-month deposits (thousands) t  _$ 24,634  +  -,­ 5  
Annual rate of deposit turnover  . ..  ____  8.0  6  + 13  Annual rate of deposit turnover _  9.0  ..L 23  
LAMPASAS  (pop. 4,869)  McALLEN (pop. 25,326r)  
Retail sales• ···-·· Food stores*  +  15  Retail sales ---··--· ·--------·--·· Department and apparel st.ores  -13 + 26  -,-42 + 19  
Postal receipts  __  $ 3,330  10  -16  Postal receipts ______ ... ____ ·­ .... _$  16,080  - 5  + I  
Building permits, less federal contracts  S  64,900  7  -28  Building permits, less federal contracts  $ 143,462  -53  -51  
Bank debits (thousands) --·· ------·-··-···· ·­$ End-of-month deposits (thousands) t $ 5,397 6,940  + 15 + 1  + 17 + 8  Bank debits (thousands) --·-·--·------·· End-of-month deposits (thoUBands) t . _$ 17,034 13,249  ..L  x  
Annual rate of deposit turnover  ........ .  9.4  +  12  + 8  Annual rate of deposit turnover  -------_  11.4  
LAREDO (pop. 59,350 r) Postal receipts _-----------··­_ -·-······· $ Bu ilding permits, less federal contracts $ Ilank debits (thousands) -·-·-------------···­$ End-of-month deposits (thousands ); __ S 23,899 47,975 23,526 18,897  + 4 -76 x x  -1 -25 + 25 x  McKINNEY (pop.10,560) Building permits, less federal contracts $ Bank debits (thousands ) --·-----·· _·­$ End-of-month deposits (thousands) t $ Annual rate of deposit turnover ____ 94,896 5,513 12,070 5.5  + 17 T + 6 0  
Annual rate of deposit turnover  __ ·-··­ 14.9  + 22  
MARSHALL (pop. 25,479r)  
LEVELLAND (pop. 8,264) Postal receipts . ··-·----··---­··-·-·--------··----·-· $ Building permits, less federal contracts $ Bank debit (thousands) ______ ···­__ .. ·-­$ End-of-month deposits (thousands) t $ Annual rate of deposit turnover______._ .. 5,753 54,150 6,688 10,061 7.8  + 5 -56 5  + 13 -41 + 17 + 17 0  Department and apparel store sales __ Postal receipts ___ ·-·--__ -·· $ Building permits, less federal contracts S Bank debits (thousands) -· $ End-of-month deposits (thousands)t $ Annual rate of deposit turnover 17,661 664,765 14,9 3 21,305 .4  -6 -r I +220 2  + + 14 +240 + 22 + '14  
LLANO (pop. 2,954) Postal receipts --·-------·----------­Building permits, less feder:.il contracts $ Bank debits (thousands) ------······--·-·-­··-$ End-of-month deposits (thousands) t $ Annual rate of deposit turnover 1,678 39,500 2,394 3,414 8.5  + 6 +560 + 18 + 1 + 16  -14 + 160 -18 -5 -14  MERCEDES (pop. 10,081) Postal receipts 4,4 1 Building permits, less federal contracts 1,465 Bank debits (thousands) --­--­5,356 End-of-month deposits (thousands) t 5,913 Annual rate of deposit turnover __ ----­11.0  + 25 -67 I + 3 2  + 2 -55 -23 + 5 -44  
LOCKHART (pop. 5,573) Department and apparel store sales -· ,. Postal receipts __ ------··­----------·------····· $ Building permits, less federal contracts $ Bank debits (thousands) ·---···-----·-· 3 End-of-month deposits (thousands) t $ 3,117 30,550 3,122 4,533  -2 + 1 -22 6 2  x + + 2 + 19 -1  MIDLAND (pop. 42,600r) Postal receipts ___ --·--­$ 47,539 Building permits, Jess federal contracts $ 1,21 ,050 Bank debits (thousands) $ 56,532 End-of-month deposits (thousands) t $ 73,640 Annual rate of deposit turnover -­9.2  + 3 + 37 T 4 x +  7 8 + 90 ~ 19 T -11  
Annual rate of deposit turnover .  8.2  5  + 19  For explanation of symbols, see page 23.  

TEXAS BUSINESS REVIEW 


LOCAL BUSINESS CONDITIONS 
Percent change 


May 1955 May 1955 May 1955 May 1955 May from from May from from Apr 1955 May 1954 City and item 1955 Apr 1955 May 1951
City a nd item 	1955 

MONAHANS (pop. 6,311) 	PORT ARTHUR (pop. 82,150u) 
Postal receipts _______________$ 5,177 + 4 + 9 
Retail sales• ---------------------------------------­+ + 6 Building permits, less federal contracts S 97,600 + 13 +180 

Automotive stores• ··---------------------····-.... + + 5 Bank debits (thousands) ------------$ 7,259 4 + 17 Department and apparel stores -------·· 5 + 16 End-of-month deposits (thousands) t ____ $ 7,648 2 + 19 
Eating and drinking places• 	3 6
+

Annual rate of deposit turnover_________ 11.3 + 0 
Food stores• ------------------­Furniture and household NACOGDOCHES (pop. 12,327) appliance stores• --------------------­-'­8,613 -33 + 7 Lumber, building material,
Postal receipts ---------------------------$ 
Building permits, less federal contracts _$ 36,662 -19 -74 and hardware stores• ------------------­+ 23 + 31 

Bank debits (thousands) ______________$ 10,075 -14 + 11 	Postal receipts -----------------------S 37,666 + 6 + 11 
End-of-month deposits (thousands) t-----S 14,801 + 17 + 1 	Building permits, less federal contracts $ 354,994 + 87 + 19 Bank debits (thousands) _________$ 57,639 + 14 + 29
Annual rate of deposit turnover ----------· 8.8 -13 + 17 End-of-month deposits (thousands) t-----S 42,998 + 1 + 13 Annual rate of deposit turnover___________ _ 16.2 + 12 + 17
NAVASOTA (pop. 5,188) 	81,100
Employment (area) -------------------x + 4
Retail sales• -------------------------------------------­Manufacturing employment (area) .... 26,500 x Food stores• -------------------------------­Percent unemployed (area) ---------------6.2 Lumber, building material, 
and hardware stores• ----------------­3,850 + 11 + 9 RAYMONDVILLE (pop. 9,136)

Postal receipts ---------------------------------$ 
Building permits, less federal contracts $ 21,290 + 24 + 450 Postal receipts --------------$ 4,504 + 12 

Building permits, less federal contracts_$ 20,900 -67 +170 Bank debits (thousands) ---------$ 4,471 -14 +22NEW BRAUNFELS (pop. 12,210) End-of-month deposits (thousands):[______$ 7,770 4 + 12 
Postal receipts _ __ $ 11,059 -6 -2 
Annual rate of deposit turnover _____ 6.8 -9 + 10 Building permits, less federal contracts _$ 83,29G -71 -11 Bank debits (thousands) --------------·-----$ 7 ,597 4 + 14 End-of-month deposits (thousands) t __ $ 10,299 + 3 + 9 ROCKDALE (pop. 4,550 r) Annual rat#? of deposit turnover___________ 9.0 6 + 8 
Postal receipts ________ --------$ 3,611 + 32 + 9 Building permits, less federal contracts $ 46,625 -70 -37 Bank debits (thousands) ------------$ 3,606 +


ODESSA (pop. 50,807r) 
End-of-month deposits (thousands) t ___ $ 3,705 x

Postal receipts _____________$ 40,341 + 8 + 14 	+ 
Annual rate of deposit turnover_____________ 11. 7 
+

Building permits, less federal contracts S 2,443,815 + 88 + 8 Bank debits (thousands) --------------$ 45,743 + 7 + 28 End-of-month deposits (thousands) t ___ $ 39,810 + 1 + 26 SAN ANGELO (pop. 62,359 r) Annual rate of deposit turnover ___ 13.8 + 10 + 3 
Retail sales -----------------­Department and apparel stores ---------x Postal receipts _ ______________________$

ORANGE (pop. 21,174) 	53,408 + 4 + 
Postal receipts _____________________________$ 14,529 -2 	Building permits, less federal contracts.. $ 631,827 + 40 + 62
+ Bank debits (thousands) ----------------·--$ 20,861 x + 18 Bank debits (thousands) ---------$ 44, 139 x + 20 End-of-month deposits (thousands) t -· $ 23,833 2 -1 End-of-month deposits (thousands) t ....$ 46,307 + 9 Annual rate of deposit turnover -----------10.4 + 3 + 17 Annual rate of deposit turnover___________ 11.4 + JO 
Employment ---------------------·------------22,900 + 1 + 4 Manufacturing employment ----------------­3,300 + 3 + 22


PALESTINE (pop. 15,063r) 	-20
Percent unemployed -------------------------------4.0 
Postal receipts _____________$ 9,678 + + 13 
Building permits, less federal contracts..$ 179,945 4 +450 +

Bank debits (thousands) ________________$ 6,195 + 12 SAN ANTONIO (pop. 449,521 u) End-of-month deposits (thousands) t -·---$ 13,069 l + 3 + 12
Retail sales• -----------------------------------+ 3 

Annual rate of deposit turnover ----·-----5.7 + 2 + 8 	+ 1
Apparel stores• _____ ----------------------------------14 Automotive stores• _ ----~ -----------------+ 18 + 34

PAMPA (pop. 20,448 r) 	+ 13
Department stores! ----------------------------+

Postal receipts _________________$ 14,655 
-5 + 14 Drug stores• ---------------------------------	+ 3 
Building permits, less federal contracts .$ 739,884 + 140 + 160 Eating and drinking places* + I Bank debits (thousands) ___________________$ 15,949 
+ 2 + 15 	+ 29
Filling stations* -------······ 	+

End-of-month deposits (thousands):[___$ 20,826 1 + 7 Food stores• ________________ 	+ 12
+

Annual rate of deposit turnover____________ 9.1 2
+ 	Furniture and household 
appliance stores* --------------------_ + 24 + 5 General merchandise stores* _______ ·---·--+ 9 + 14
PHARR (pop. 8,690) 
Lumber, building material, 

Postal receipts ------------------------$ 4,669 + 23 + 19 
and hardware stores* -----------------------2 + 5

Bank debits (thousands) ________________ $ 3,714 + 45
+ Postal receipts ------------------------------$ 557 ,175 	+ 15 + 12 End-of-month deposits (thousands) L .. $ 3,402 I + 12 Building permits, less federal contracts $ 4,090,740 -17 + 17 
Annual rate of deposit turnover ------------13.0 + 7 + 30 
Bank debits (thousands) __________ $ 475,625 + 6 + 25 End-of-month deposits (thousands) t ___ $ 335,444 x + 10 Annual rate of deposit turnover___________ 17.0 + + 14
PLAINVIEW (pop. 14,044) 
Employment ------------------------180,300 + I + 3 

Retail sales ------------------­-14 	+ 10
Manufacturing employment ·-------_____ 21,850 + 3Department and apparel stores -----------6 
-31

+ Percent unemployed -·--------------·------4.8 -13 
Postal receipts ----------------------------$ 12,023 + 2 + 2 Building permits, less federal contracts $ 174,300 -18 + 18 For explanation of symbols, see page 23. 
JULY 1955 



LOCAL BUSINESS CONDITIONS 

City and item May 1955 May 1955 from Apr 1955 May 1955 from May 1954 Per­cent-change  
SEGUIN (pop. 14,000 r) Postal receipts -----------------------------------------$ Building permits, less federal contracts__$ Bank debits (thousands) ________________________ $ End-of-month deposits (thousandsH ___ $ Annual rate of deposit turnover_____________ 8,027 41,235 7,473 16,504 5.4 + 90 x + 2 -5 -74 + 17 -1 + 15  
SHERMAN (pop. 25,855r) Retail sales --------------------------------­------------­Department and apparel stores _____ Furniture and household appliance stores ------------------·---------­Lumber, building material, and hardware stores ---------·--------------­Postal receipts ------------------------------------------$ Jluilding permits, less federal contracts _$ Jlank debits (thousands) ___________________$ End-of-month deposits (thousands) t--­--$ Annual rate of deposit turnover_________ ..__ 23,682 564,586 26,193 18,229 17.4 SNYDER (pop. 14,lllr) Department and apparel store sales _______ Postal receipts -------------------------------------------­$ Jluilding permits, less federal contracts $ Bank debits (thousands) ---------------------$ End-of-month deposits (thousands) L--­$ Annual rate of deposit turnover________ 10,438 114,000 14,367 13,073 13.2 + 14 + 89 -5 +170 1 + 2 -6 + 26 -38 + 6 + 1 + 6 SULPHUR SPRINGS (pop. 9,890 r) Postal receipts ----­----------------------------------­$ Jluilding permits, less federal contracts--$ llank debits (thousands) --------­-------------$ End-of-month deposits (thousands ) +------$ Annual rate of deposit turnover____________ 5,721 95,000 7,700 10,849 8.7 -4 -42 + + + 5 SWEETWATER (pop. 13,619) Postal receipts -----------------------------------$ Building permits, less federal contracts_$ Bank debits (thousands) ----------------________$ End-of-month deposits (thousands)+----­$ Annual rate of deposit turnover-------------­16,641 54,735 8,871 10,709 10.1 TEMPLE (pop. 25,467) Retail sales _________________ ---­------------------------­Apparel stores --------------------------------------­Department and apparel stores ________ _ Drug stores ------------·­_________ _ Food stores ____________________ _ Furniture and household appliance stores ---------­Lumber, building material, and hardware stores .... Postal receipts -----------------­----------­$ Building permits , less federal contracts $ Bank deb its (thousands) ___ ----------------­-$ End-of-month deposits (thousands):):_____ $ Annual rate of deposit turnover______________ 26,343 719,557 18,86a 23,844 9.6 TEXARKANA (pop. 24,753) Retail sales§ ----------· ___________ Postal receipts§ --------­--------------··---------------$ Building permits, less federal contracts $ Bank debits (thousands) § ----------------------$ End-of-month deposits (thousands) t -­$ Annual rate of deposit turnover --------­Empl0yment§ __ --­----­--------------------------------­Manufacturing employment§ __ Percent unemployed§ --------------------­42,683 163,210 36,283 17,242 12_0 34,600 5,390 8.1 + 58 -88 x + 2 -2 -22 22 + 11 + 22 -6 -5 + 33 + + + + 6 3 41 3 16 + 17 + 3 + 37 + 70 + 1 + 240 + 7 + 13 6 + 12 + 25 + 33 + 9 + 2 + 6 -7 + 63 + 26 x + 28 + 66 + 53 + 10 + 12 0 + 2 + 9 + 9 + + + 35 -17 + 9 + 330 + 23 x + 23 + 10 + 9 +140 + 11 -3 + 17 + 2 -4 -37  

Percent change  
City and item  May 1955  May 1955 from Apr 1955  May 1955 from May 1954  


TAYLOR  (pop. 9,071)  
Postal receipts -----------------------­__ $ 6,691  - 17  i"  
Building permits, less federal contracts $  44,475  - 80  -63  
Bank debits  (thousands)  -­ ------------­$ 6,883  -24  
End-of-month deposits (thousands)+ __  $ 13,528  -5  
Annual rate of deposit turnover ----­____  6_0  -21  

TEXAS CITY (pop. 23,000r)  
Department and apparel store sales_____  _ _____  - 9  - 2  
Postal receipts ----------------------------------­ $ 13,595  - 3  +  6  
Building permits, less federal contracts_$ 450,190  -24  44  
Bank debits  (thousands)  __ ----------------$  26,696  +  3  +  3  
End-of-month deposits (thousands) :t: ____ $ 28,299  +  18  +  9  
Annual rate of deposit turnover..... _  12.3  +  6  +  6  
Employment (area) -----------------­ 45,450  +  +  3  
Manufacturing employment (area)  11,290  i"  +  
Percent unemployed (area) __ -------­ 6.0  +  

TYLER  (pop. 49,443 r)  
Postal receipts ----------------------------------$  58,113  - 20  + 2  
Building permits, less federal contracts $ 1,297,155  +  14  + 120  
Bank debits  (thousands)  --­---­______________ $  68,253  6  + 13  
End-of-month deposits (thousands) t  $ 57,584  3  x  
Annual rate of depooit turnover___________.  14.0  + 10  

VICTORIA (pop. 16,126)  
Retail sales• ------------------------------------------­ 
Automotive stores* ___ -------------­-­_  12  +  
Department and apparel stores -----.. .  2  +  
Eating and drinking places* ·----­-----­.. .  +  
Filling stations* --------------­ +  
Food stores• ------------------­ +  16  
Lumber, building material,  
and hardware stores* ........ ------------·····  + 38  
Postal receipts ---------------------------------$ 22,111  +  1  + 10  
Building permits, less federal contracts $ 540,761  +  38  
WACO (pop. 101,824r)  
Retail sales --------------------------------------­ +  + 17  
Department storest ---­______  +  + 14  
Furniture and household  
appliance stores  +  21  + 19  
Postal receipts ______ ---­_ -------------­---------$ 113,290  +  4  + 9  
Building permits, less federal contracts $ 832,062  - 24  x  
Bank debits (thousands) ---------------­$ 82,726  8  + 13  
End-of-month deposits (thousands) t---­$ 67,102  +  1  + 10  
Annual rate of deposit turnover_ ..... . 14.5  8  + 1  
Employment ------------------------­46,150  x  + 5  
Manufacturing employment .......----­8,730  +  + 6  
Percent unemployed ----------------­5_1  11  -20  

WICHITA FALLS (pop. 103,192 •) 

Retail sales __ --------------------------------------+ 4 + 17 
Department and apparel stores.. _ ..... -2 9 
Postal receipts $ 85,395 + 16 + 10 

Building permits, less federal contracts S 1,218,067 + 140 Bank debits (thousands) ---------S 93,460 + + 19 End-of-month deposits (thousands) :t: __ S 104,603 + 
Annual rate of deposit turnover .. _ + + 11
10_7 Employment 35,800 + + 3 Manufacturing employment . 3,410 + + 3 Percent unemployed 
4.5 -20 
x Change is less than one-hall of one percent. 
•Preliminary. 

tReported by the Federal Reserve Board of Dallas. t Money on deposit at the end of the month, hut excludes deposits to the credit of banks-fl Reported by the Bureau of Business and Economic Research, Uni­
versity of Houston for Houston metropolitan area as defined in 1950 
Census. 
§ Figures include Texarkana, Arkansas (pop. 15,875) and Texarkan&, Texas (pop. 24,753). r Revised for use by Texas Highway Department. 
u Population of urbanized area, 1950 Census. 

BAROMETERS OF TEXAS BUSINESS 

¥ear-t<>-date AverageMay Apr Mar average month 
1955 1956 1955 1955 

GENERAL BUSINESS ACTIVITY  
tlndex of Texas Business Activity (100.0) ............ ............... .................... . Index of bank debits .............................................................. ................................. . Index of bank debits in the United States ............................................................ . . Income payments to individuals in the United States (billions-seasonally  in• 205 173  176. 195 163  176. 202 171  172 196 168  163 177 160  
adjusted at an annual rate) ................................................................ . Index of wholesale prices in the United States, unadjusted.. . ............... . Index of consumers' prices in the United States, unadjusted.................... . Hndex of consumers' prices in Houston, unadjusted......................................... . Index of postal receipts ...... ................ ..................................................................... . tlndex of miscellaneous freight carloadings in the Southwestern District  114.2 115.5 228  s  295.6. 110.5 114.2 206  s  294.6 110.0 114.3 224  293.5 110.2 114.3 115.6 211  s 286.4 110.3 114.8 116.7 174  
(10.0) ·············· ···································································································· Corporation charters issued (number) ........ .. ................ . Business failures (number) .................................................................................. .. tlndex of ordinary life insurance sales, adjusted for price changes ( 4.2) ....... . Index of ordinary life insurance sales ........................................................... .. ...... . Index of ordinary life insurance sales in the West South Central states ........ .. Index of ordinary life insurance sales in the United States ............... .  95 13 201 230 233 202  93 515 10 206 235 230 193  95 509 19 226 258 250 207  94 500 14 211 241 232 197  93 345 20 172 197 19~ 170  
TRADE  
tlndex of total retail sales, adjusted for price changes (46.8). .......................... . Index of total retail sales ........................................................................................ Durable-goods stores .......... ................. .............................................................. . Nondurable-goods stores .......................................................................... ......... . Ratio of credit sales to net sales in department and apparel stores ............... . Ratio of collections to outstandings in department and apparel store! ... ........ .  156* 173* 188* 166* 62.8 38.6  158 176 188 170 64.3 37. l  150 178 194 169 64.4 40.0  154 l73 187 165 63.5 .38.5  143 160 162 159 63.0 39.0  
PRODUCTION  
tlndex of industrial electric power consumption (14.6) ............... .......... ....... . tlndex of crude runs to stills (3.9) .................................................................... Index of cottonseed crushed ....................................................... . tlndex of construction authorized, adjusted for price changes (9.4 ) Index of construction authorized. ........... .......................... . tlndex of crude petroleum production (8. 1) .......... . ............................ . Index of southern pine production, unadjusted, 1935-39=100 ....................... Index of gasoline consumption ................................................................. ..... ....... . Index of industrial production in the United States ......................................... . tlndex of total electric power consumption (3.0) ............................................... . Construction contracts awarded (thousands) ........ ................. . ............... . Index of dairy products manufactured............... . ....................................... . Index of natural gas production ........................ . Index of cement consumption .............................. .  309• 138 181° 243° 124. 138. 284* 151,223 56°  310* 142 209 152• 204• 131' 124 173 136 284. Sl31,455 62* 172 155  286* 149 135 166* 223• 133 132 173 135 268° 132,586 98* 179 178  292 141 147 163 218 130 120 177 135 269 129,389 75 173 171  238 127 150 141 186 117 117 173 125 235 Slll,196 62 169 153  
AGRICULTURE  
Index of prices received by farmers, unadjusted, 1909-14=100... ................... .  260  267  266  265  265  
Index of prices paid by farmers in the United States, parity index-unad­ 
justed,  1910-14=100 ...................................................... ............................. .  282  284  284  283  281  
Ratio of Texas farm prices received to U.S. prices paid by farmers ................ .  92  94  94  94  94  
Index of farm cash income, unadjusted.............................................................. .  61  68*  60  67  98  
Index of prices received by farmers-livestock, unadjusted, 1909-14=100....  267  283  283  279  28-1  
Index of prices received by farmers-all crops, unadjusted, 1909-14=100....  255  255  253  254  251  
FINANCE  
Loans, reporting member banks in the Dallas district (millions) .................. . Loans and investments, reporting member banks in the Dallas district  2,211  s  2,170  s  2,156  2,164  1,950  
(millions) ........................................................................................................... .  3,728  s  3,732  3,651  3,701  3,494  
Demand deposits adjusted, reporting member banks in the Dallas district  
(millions) ...................................................................................................... . Bank debits in 20 cities (millions) ........................................ Reven ue receipts of the State Comptroller (thousands) .  $ 2,740 s 6,475 Sl08,926  s 2,700 s 6,201 s 90,541  s 2,635 6,738 72,714  2,693 6,348 78,743  2,552 5,849 62,930  
Federal Internal Revenue Collections (thousands)  235,689  8159,205  8288,791  234,563  $183,604  
LABOR  
Total nonagricultural employment (thousands) .............................................. . Total manufacturing employment (thousands) ..................................... . Durable-goods employment (thousands) .................................. . Nondurable-goods employment (thousands) ........................................ .  2,238.3* 431.7. 203.9* 221.8•  2,230.4 425.3 200.7 224.6  2,212.l 423.4 198.6 224.8  2,213.5 425.2 199.5 225.7  2,189.6 424.8 199.7 225.2  

All figures are for Texas unless otherwise indicated. All indexes are based on the average months for 1947-49, except where Indicated and art adjusted for seasonal variation, except annual indexes. 
Employment estimates have been adjusted to first quarter 1954 benchmarks. 
*Preliminary. 

tThe index of business activity is a weighted average of the indexes indicated by a dagger (t). The weight given each index in computing th• composite is given in parentheses. 
!Index computed for February, May, August, and November only.