TEXAS BUSINESS REVIEW 

A Monthly Summary of Business and Economic Conditions in Texas 
BUREAU OF BUSINESS RESEARCH THE UNIVERSITY OF TEXAS 
VOL. XXXIII, NO. 1 TWENTY CENTS A COPY-TWO DOLLARS A YEAR JANUARY 1959 
The Upper .Nueces 
River Basin 

(page 7) 
LEGEND 
.............Railroads 

"-. 
-·-U.S. Highways ----State Highways Laredo ••. 
.........-.........-.-...

_ 
THE BUSINESS SITUATION IN TEXAS 

By JOHN R. STOCKTON 
The strong recovery trend that has been present in Texas business throughout the fall showed some hesitation in No­vember, with the index of business activity declining 5% from October. This barometer of business activity is based on the total volume of business transactions as measured by checks written in major cities. It is used as an over-all measure of the changes in business activity, adjusted for the regular seasonal variations in business and for the changes in the volume of transactions resulting from the changes in the level of prices. 
The drop in the index of business for November re· fl.ected declines in new building authorized, petroleum re· fining, ordinary life insurance sales, and electric power consumption. Retail sales and crude petroleum production rose from the October level but not enough to offset the de· pressing effects of the declines in other segments of busi· ness. The extent of the change in these and other barometers of Texas business is given in the table on the following page. 
With data for eleven months it is possible to predict with a considerable degree of assurance that the volume of Texas business in 1958 will be approximately the same as in 1957. The average of the index of Texas business ac­tivity for the first eleven months of 1958 was 195 compared with an average of 196 for the first eleven months of 1957. However, this stability in the over-all measure of activity obscures the variation in the different segments of business. 
Total construction furnished strong support to business with an increase of 16% in the first eleven months of 1958 over the same months of last year. Nonresidential construc­tion declined 3% in this period, but residential building registered a 36% gain. The upsurge in Texas building has been part of the total upturn for the United States, but the gains in Texas have been considerably greater than for the country as a whole. 

In both Texas and the United States the decline in busi· ness activity resulted in a reduction in the volume of non· residential construction. A reduction in business volume may be expected to exert a strong influence on the starting of nonresidential buildings, so the decline in this type of construction was not unexpected. Residential building is influenced by consumer income and the availability of credit. The continued rapid growth of the population and its shift to the cities and to the suburbs sustains a strong demand for housing. The decline in business activity did not result in substantial reductions in consumer income. and since the supply of credit available was increased dur: ing 1958, the volume of residential building showed very satisfactory gains. 
Construction is one of the most dynamic elements of the economic system, since it is possible for it to expand or contract at a much more rapid rate than many other phases of business. An increase of 10% in factory production may cause an increase of 100% in purchases of new plant and equipment. A decrease of 10% in factory output might reduce the demand for new equipment and new industrial construction to zero for the duration of the reduced output. Residential construction is closely related to the availability ?f credit and normally can expand or contract rapidly. Dur­mg 1958 a period of substantial expansion of credit oc· curred, and building reacted to this stimulus. 
Texas Business Activity 
250 Index • Adjusted for seasonal variation • 1947-1949=100 

250 
200 
200 
150 
150 
100 
100 
50 
50 
0 
° 
TEXAS BUSINESS REVIEW 
Agriculture afforded almost as much support to business during 1958 as construction. Preliminary estimates of farm income for 1958 indicate that it may be as much as 18% larger than 1957. An increase of 5% in prices received by farmers has contributed to this rise in income, but the good crops resulting from adequate rainfall have had an even greater influence. Texas farm income from the sale of crops is estimated to be 28% higher than in 1957, while the income from livestock and products is estimated to be approximately 6% higher than 1957. 
All of the major Texas crops will produce a larger in­come in 1958 than in 1957. Income from cotton is expected to be approximately 26% higher than last year. Grain sorghums should be 23 % greater, wheat more than double, and fruits and vegetables 27% greater than in 1957. Cat­tle and calves are expected to produce approximately 14% more farm income, broilers 15%, turkers 14%, and eggs 13%. On the other hand, dairy products are forecasted to show a reduction of approximately 14% . 
Crude Petroleum Production in Texas 
Index • Adjusted for seasonal variation • 1947-1949·100 


The increases in the income from most of the major farm commodities have influenced business activity in all areas of the state and have been a very important factor in the relatively strong showing Texas business has made during 1958. The increase in farm income for the year will ap­parently be very nearly the same as the increase in build­ing authorized. The gains in these two segments of business have approximately counterbalanced the declines in manu­facturing, oil production, and consumer spending. 
Preliminary estimates indicate that industrial produc­tion in Texas during 1958 was below the level of 1957, al­though gains have been made since the low point reached in the spring. Industrial power consumption rose 4% in November, although the November level was still 6% be­low a year earlier. For the first eleven months of 1958 in· dustrial power consumption was 9% below the same period of 1957. 
Manufacturing employment in Texas in November 1958 rose 1 % from October hut was still 4% below the level of a year ago. The average monthly employment in manu­facturing for the first eleven months of 1958 was 5% lower than in the same period of 1957. Most of the decline was in durable goods manufacture, which was down 9% compared to a decline of 1 % in nondurable goods. The only nondurable goods industry to decline significantly was petroleum refining. The declines in durable goods manufacturing were largely concentrated in transportation equipment, machinery (except electrical) , fabricated metals, and primary metals. 
Miscellaneous Freight Carloadings, 
Southwest District 
Index • Adjusted for seasonal variati~n • 1947-1949,100 


Industrial production in the United States, as measured by the preliminary index of the Federal Reserve Board, rose from 138 in October to 143 in November. This rise continued the climb started in April and restores most of the loss since the summer of 1957. All of the decline in this index has been in the durable goods classification; non· durable manufactures in November were substantially above the previous high. 
The production of petroleum, adjusted for seasonal vari­ation, increased 3% in November but was still 20% below the peak reached in March 1957. The first eleven months of 1958 averaged 15% below the first eleven months of 1957. The oil industry has been the most severely depressed in­dustry in the state, suffering partly from the reduced de­mand for petroleum products but more from the excessive imports of foreign oil and the stocks accumulated during the Suez crisis. The condition of the oil industry is the most serious element in the present business situation, and although November registered some improvement, the level of the industry is still seriously low. 
A direct effect of the decline in industrial activity is the reduction in capital spending of business concerns. No data are available for expenditures for new plant and equipment 
SELECTED BAROMETERS OF TEXAS BUSINESS 
( Adjusted tor seaaonal variation, 1947--49 = 100 ) 
Percent change  
Index  Nov 1958  Oct 1958  Nov 1957  Nov 1958 from Oct 1958  Nov 1958 from Nov 1957  

Texas Business Activity .....  193  204  187  - 5  + 3  
Miscellaneous frei ght  
carloadings in S .W. district __  78  78  73  **  + 7  
Crude petroleum production ....  117*  114*  118  +  3  1  
Crude oil runs to stills  144  146  134  +  7  
Total electric power  
consumption  ...  331*  340*  327  3  + 1  
Industrial electric power  
consumption  335*  322*  357  +  4  6  
Bank debits ......................  230  243  221  5  + 4  
Ordinary life insurance sales __ Total retail sales .  392 204*  409 197*  387  +  4. 4.  + 1 ••  
Durable goods sales Nondurable goods sales ........  173* 220*  150* 221•  + 15 ••  - 2 ••  
Urban building p ermits issued _  239*  258*  178  - 7  + 34  
Residential ......... ---------------------­ 285*  318''  169  - 10  + 69  
Nonresidential  181"  197*  196  - 8  - 8  
Farm cash income, unadjusted .  230*  248*  158  - 7  + 46  

Adjusted for seasonal variation, except annual averages and fa.rm cash income. 
* Preliminary, 
•• Change is less than one-half of one percent. 

JANUARY 1959 in Texas, but the record of industrial e:cpansion in the state parallels closely the expenditures of this type for the c~~n­try as a whole. The most recent surveys of the Secuntles and Exchange Commission and the Department of Com­merce estimates that 1958 expenditures will total $30.53 billion, a decline of 17% from the peak y~ar 1957. !he estimates for the fourth quarter of 195~ i:eg1stered a shght increase over the third quarter, but this mcrease was c?n· centrated in mining, public utilities, and transportation other than railroads. Commercial businesses and both durable and nondurable manufacturing declined. 
REFINERY STOCKS* 
Source: The Oil and Gas J our,,al 
Percent change 
Nov 1958 Nov 1958 Area N ov Oct Nov from from 
and products i958 1958 1957 Oct 1958 Nov 1957 
(thousands of barrels) 
UNITED STATES 
Gasoline  -········----·­- 173,600  168,476  185,203  +  - 6  
Distillate --······-·······  161 ,439  166,4 14  167,594  - 4  
Residual ..................  66,199  67 ,580  58,807  + 13  
Kerosene ················  31,932  32,374  32,661  
TEXAS  
Gasoline ..................  30,762  28,976  30,999  +  1  
Distillate ················  19,104  21,118  20,714  - 10  8  
Residual  ··········--····  9,253  10,213  9,384  9  
Kerosene ·········-······  3,520  3,871  3,901  - 9  -10  

• Fi&"ures shown for week ending nearest last day of month. 
Anticipated expenditures for new plant and equipment for the first quarter of 1959 showed a modest increase over the previous quarter, with both durable and nondurable manufacturing registering gains. If expenditures for new plant and equipment do increase in the first quarter of 1959, it is to be expected that industrial expansion in Texas will rise. The sharp decline that was in progress at the end of 1957 had a significant effect on the volume of Texas ac­tivity, and any revival of spending would lend support to Texas business. 
Consumer spending in Texas during November increased 4%, with all of the increase concentrated in durable goods. With nondurable goods sales remaining practically un­changed, durable goods sales increased 15% from October. For the first eleven months of 1958 retail sales were 2% below the same period of 1957, reflecting almost entirely the low level of automobile and appliance sales. Sales by durable goods stores were 9% below last year, but non· durable goods were 1% higher. The decline in the buying of goods of this type contributed to the slower pace of Texas business during 1958, but the decline in consumer 
income was not large enough to restrict significantly the purchase of soft goods and services. 
As 1958 ended, one of the most important questions was the renewed trend toward inflation. The index of wholesale prices and the consumers' price index both rose 0.2 points m November, after very slight declines during 1958. The fact that b~siness volume declined rather sharply during the year with almost no corresponding decline in prices 
~ay have se_t the stage for another sharp rise in prices dur­mg the ensumg expansion of business. 
TEXAS BUSINESS REVIEW 


Editor_
___ 
..________,,____ ,,_______ __
__ ,,____ _
__
__ ___John R. Stockton 
Managing Editor____________________ ............ Robert H. Drenner 

TABLE OF CONTENTS 
The Business Situation in Texas -·--······-·-----·---····--··· 2 
Retail Trade -··------·-·--··-···---······-··-···-·-··--··-·--····---···· 5 
The Upper Nueces River Basin ·-··········--·-·--·-------·--7 
Finance ······-··-·······-·-····-··-····--·····-----·-·····-·-·············-I0 
Construction 	·-----·--····-·-··-·--·····-·--···---·······--·----·-·-·-· 12 
Local Business Conditions -··-·-····--··-··-·····---·-······.. 14 
Barometers of Texas Business -·-···----------·---·······-·----· 20 
BUSINESS RESEARCH COUNCIL 
John Arch White, Acting Dean of the College of Business Adminis­tration (ex officio); J ohn R. Stockton; W. H. Baughn ; L. G. Blackstock; E. W. Cundiff ; J. Neff; G. H. Newlove. 
BUREAU OF BUSINESS RESEARCH 
John R. Stockton Stanley A. Arbingast Florence Escott 
Director 
Assistant Director Administrative Assistant Resources Specialist
Francis B. May Robert H. Drenner Statistician Alfred G. Dale Reaearch A ssociate Deirdre C. H andy Research AssoC'iate 
Tina Piedrahita 
Research Associate J acquie LeRoy Research Associate 
Char les 0 . Bettinger Research Associate 

Charles R . McCord 
Research Associate 	Arvid A. Anderson Research Associate 
Research Associate

Roberta Steele 	Mildred Anderson 
Cartographer 	Marjorie T. Cornwell Statistical Technician Administrative Clerk
Eva A. Arias 	Crescen cia M. Stanley
Statistical Assistant Candler P. Cass Senior SecretaryStatistical Assistant
Marie Fletcher Anna Merle Danz 
Senior Secretary Josephine J. Knippa Library Assistant Senior Clerk Typist
Dorothy W . Smith 
Barbara Warden
Cleric Marilyn Whites Clerk TypistPublication Assistant 
Robert Dorsett Gail McElroy Daniel P. Rosas
Offset Preas Operator Cleric Typist Offset Press Operator 
Assistants 
Wayne Ferguson, William H. Fleming Hugh Herndon, Robert 
Parker, Marie Payne, and Charles J. Turne;, 
Published mout.hly by the Bureau of Business Research College of Business Adminkstration, The University of Texas A~tin 12. Ente~ed "" second class matter May 7, 1928 at the post office at Au~tm, Texas, nnder the act of August 24, 1912. Content of this publi­cat10n IB not copyrighted and may be reproduced freely. Acknowle<lire­!"•J?t. of sou~ce will be appreciated. Subscription, $2.00 a year;
rnd1v1dual copies. 20 rAnts. 
TEXAS BUSINESS REVIEW 
Retail Trade: 
NOVEMBER RETAIL SALES NOT SIGNIFICANTLY CHANGED 
By TINA PIEDRAHITA 
Dollar sales. Estimated November 1958 retail sales in Texas ($1,064.3 million) were not significantly changed from either October I958 ($I,064.I million) or November I957 ($I,067.6 million). Eleven-month cumulative sales, estimated at $10,995.0 million, were 2% below sales in the same I957 period. 
For the second consecutive month, durable goods sales ($279.0 million) showed an increase over sales in the pre­ceding month (+3% from October). However, sales of durables in November were 2% below November I957 and, in the 11-month comparison, were down 9% from January-November I957. Sales by nondurable goods stores ($785.3 million) declined seasonally from October ( -I%), remained unchanged from November I957, and for January-November were 1% above sales of nondur­ables in the same period last year. 
ESTIMATES OF TOTAL RETAIL SALES 
(Unadjusted for seasonal variation) 
Percent change  
Type of store  Nov 1958  Nov 1958 from J a n-Nov Oct 1958 1958  Nov 1958 from Nov 1957  Jan-Nov 1958 from Jan-Nov 1957  

Millions of dollars  
TOTAL ---·····-----­-· 1,064.3 Durable goods• ............ 279.0 Nondurable goods ........ 785.3  10,995.0 3,166.8 7,828.2  •• + 3 -1  - •• 2 ••  +  2 9 1  

•Contains automotive stores, furniture stores, and lumber, building 
material, 	and hardware stores. ••Change is less than one-half of one percent. 
November indexes. The preliminary November index of total retail sales (I957-49= 100 and adjusted for sea­sonal variation) was 204, seven points above October I958 and 21 points above the average month for 1957. The dur­able goods index (I73) was 23 points above October I958 and four points above the average month for 1957, and was the highest durables index reported thus far in 1958. The nondurable goods index (220) slipped one point from Oc­tober I958 but was 30 points above the average month for I957. Deflated for price changes, the November index of total retail sales was I 73, or six points above the deflated index reported for October 1958. 
Sales by store types. Increases (not adjusted for sea­sonal variation) in November I958 over October I958 in sales by both durable and nondurable goods stores were reported by jewelry stores (+60%); motor vehicle dealers and unclassified apparel stores (each +9%) ; liquor stores (+6%) ; family clothing stores (+3%) ; farm implement dealers ( +2%) ; and hardware stores and restaurants (each +1% ) . 
Among durable goods stores, sales by motor vehicle dealers were 8% below November I957, while other cate­gories reported increases from 23% to 44%. In the 11­month cumulative comparison, sales increases were made by farm implement dealers ( +8%); lumber and building material dealers ( +6%); hardware stores ( +3%); and furniture stores (+I%) . Sales by automotive stores were 13% below sales in the same 11-month period a year ago. 
In the nondurable goods tabulation, best showings over November 1957 were made by jewelry stores and groceries without meats (each +IS%) ; unclassified apparel stores ( + 10%) ; liquor stores (+B% ) ; and office, store and school supply dealers ( +7%). Family clothing stores re­ported a I9% decrease from November I957. In the eleven­month cumulative comparison, sales increases were re­ported by drug stores, groceries without meats and country general stores (each +6% ) ; groceries with meats and gas­oline and service stations (each +4%) ; and florists (+2%) ; while sales by women's ready-to-wear stores, un­classified apparel stores, department stores, and jewelry stores remained unchanged. Sales decreases in the 11-month period ranged from I% reported by shoe stores to IO% reported by family clothing stores. 
Volume of department and apparel stores. No­vember sales of 266 Texas department and apparel stores were 2% below October I958 and 5% below November I957. But, in spite of the percentage decrease from No­vember I957, cumulative sales remained 2% below Jan­uary-November I957. 
Sales by department and apparel stores in 26 of the 30 reporting cities fell below October I958, sales in I3 were above November I957, and sales in I2 cities bettered Jan­uary-November I957. Sales increases over October I958 were made in Lubbock {+10%); Austin (+7%); and Houston and San Antonio {each +4%). Highest percent­age increases over November I957 were reported by Big Spring {+18%); Lubbock (+IS%); San Angelo( + 7%) ; and Brownwood, Corsicana, Sherman, and Waco {each +5%). In the eleven-month cumulative comparison, gains were reported in Edinburg ( +10%); Big Spring (+8%) ; Brownwood, Lubbock, and Temple {each +5%) ; Victoria { +4%) ; Corsicana and Lockhart (each +2%) ; and Greenville, Port Arthur, and San Angelo {each +I%). 
Sales in Texas cities. 0£ the 22 Texas cities reporting a large enough number of retailers to permit individual city listings, total retail sales in nine cities were ahead of October I958, sales in eight bettered November I957, and only four cities reported sales up from January-November I957. 
RETAIL SALES TRENDS llY KINDS OF BUSINESS 
Source: Bureau ol Business Research In cooperation with the Bureau of the Census, U. S. Dep:artment of Commerce 
Percent change in sales  
Kind of business•  Number of reporting establishments  Nov 1958 from Oct 1958  Nov 1958 from Nov 1957  

Automotive stores ........................  242  +  8  7  
Furniture and household  
appliance stores ........................  14 7  3  + 9  
L umber, buildina-m aterial,  
and hard ware stores  273  - 11  + 22  
NONDURABLE GOODS  
Apparel stores  ..............................  205  - 7  
Drug stores ....................................  159  5  + 6  
Eating and drinking places ........ Food stores ........ . ....................... .  91 288  + 1 1  + 3••  
Gasoline and service stations ....  705  6  + 2  
General  merchandise stores ......  190  4  - 2  
Other retail stores ........................  197  +  5  + 4  

• Totals include kinds of business other than classification listed. ••Change is less than one-half of one percent. 
JANUARY 1959 

Largest increases over October 1958 were reported by veston, San Antonio, and Waco improved their collection Corpus Christi ( + 17% ) ; Lubbock and Texarkana (each ratios over November 1957. By type of store, highest col­+12% ) ; and Dallas and San Antonio (each +6% ). Gains lection ratios were made by dry goods and apparel stores over November 1957 were made by Waco ( +19%); Lub­( 55. 7%) and men's clothing stores (43.0%). Improve­bock (+17%); Brownsville (+15%); Amarillo ments in collection ratios were also reported by department 
(+8%); Marshall ( + 7%); Temple ( +3%); and Aus­stores with sales under $1 million. 
tin ( +2% ). Although the remaining cities registered total Secondary trade indicators. Advertising linage in 
sales decreases, a general upward trend in sales by durable 26 Texas newspapers was 3% below October 1958 and 4% 
goods stores in general and furniture and lumber and build­above November 1957. Four newspapers bettered October 
ing material dealers in particular was evident in most cities. 1958 and 12 were ahead of November 1957. 
In the furniture stores tabulation, sales increases were re­Of 109 Texas cities reporting postal receipts for the 
ported by Fort Worth ( +37%); San Antonio ( +20%); October 18-November 14, 1958 period, 21 bettered Sep­
Houston ( +11 % ) ; and Sherman ( +8%). Among lum­tember 20-0ctober 17, 1958, and 104 topped October 19­ber, building material, and hardward stores increases were November 15, 1957. 
made in Fort Worth ( +55%); El Paso ( +44%); Hend­
erson (+36% ) ; Beaumont (+22% ) ; and Paris POSTAL RECEIPTS 

(+14%) . 
Sales gains over January-November 1957 were reported Percent change 
by Temple ( +6% ) ; Marshall ( +5%) ; and Brownsville Oct 18-Oct 18­
Nov 14 Nov 14 

and El Paso (each + 1 % ) . Cumulative sales in all other 
1958 1958 
reporting cities either declined or showed no significant Oct 18-Sept 20-Oct 19 from from 

Nov 14 Oct 17 Nov 15 Sept 20-Oct 19­

change from the same period last year. 	City 1958 1958 1957 Oct 17 '58 Nov 15 '57 
Alice ------13,792 15,608 10,768 -12 + 28 CREDIT RATIOS IN DEPARTMENT AND APPAREL STORES 
-------············ 

Alpine ........ 3,901 5,081 2,776 -23 + 41 Bay City --------------------9,322 11,437 8,947 -18 + 4 Credit Collection Brownfield --12,027 8,058 + 49 ratios* ratios•• Cameron 6,200 8,033 4,412 -23 + 41
···················· 
Number of ----­

Childress ···-····· 4,723 5,540 4,595 -15 3 
reporting Nov Nov Nov Nov + Classification stores 1958 1957 1958 1957 Cisco ·························· 3,777 4, 526 2, 852 -17 + 32 Cleburne .................... 12,814 13,010 9,666 -2 + 33 ALL STORES -----------------------­63 69.1 68.7 36.0 36.5 
Coleman ·······-··········· 4,935 7,004 3,658 -30 + 35 
BY CITIES 

Crystal City ____ 2,728 2,811 3,229 -3 -16 
Austin ·---------------------------------­

5 64.2 64.0 49 .8 50.6 

Cuero ·······-················· 4,434 5,086 3,280 -18 + 35 Bryan ------------------------------------3 56.2 51.8 47.7 47.2 
Denton ------------------------29,241 22,610 24,133 + 29 + 21 
Cleburne ---------------------------3 36.8 39.1 44.5 43.5 Eagle Pass .............. 5,641 6,540 4,910 -14 + 15 
Dallas ------------------------------80.3 79.1 42.1 41.0 

Edna 5,046 4,497
·························· 5,135 -2 + 12 
3 59.4 60.4 27.9 28.1

El Paso ---------------------------------------­El Campo 8,192 10,442 7,877 -22 4
················ 	+

Fort Worth ---------------------------------­3 71.2 70.7 33.1 36.4 
Gainesville ---12,925 10,635 + 22 Galveston ------------------------­69.1 67.5 48.5 45.6 
Gatesville 3,517 4,114 3,160 -15 + 11 
Houston ·--·----···-----	66.7 66.3 32.2 32.9 
Giddings ---2,912 2,896 2,154 + 1 + 35San Antonio ____ _ 4 70.4 68.5 45.7 44.0 
Gilmer ........................ 4,857 4,576 2,875 6 + 69

+

Waco --------------------------4 59.7 59.6 41.1 39.3 
Goldthwaite 1,524 1,984 1,358 -23 + 12
BY TYPE OF STORE 

Graham ······ 6,321 5,904 5,601 + 7 + 13
Department stores 
Granbury ---3,569 3,008 3,673 + 19 -3(over $1 million) 15 70.5 70.1 34.4 34.8 
Hale Center l,632 2,190 1,313 -25 + 24
Department stores 
Hillsboro ············· 5,955 7,406 4,541 -20 + 31(under $1 million) .... 19 47.7 48.5 41.8 40.5 
Huntsville 8,559 9,460 7,071 -10 + 21Dry goods and apparel stores__ 5 73.0 73.7 55.7 56.1 
Jacksonville 16,388 14,323 15,352 + 14 7
+

Women's specialty shops _ 14 65.4 64 .9 42.5 43.2 
Kenedy ___ 3,422 3,377 2,715 
···················· 	+ 1 + 26

Men's clothing stores . 10 68.3 68.1 43 .0 45.7 
Kermit .... 6,446 8,254 4,935 -22 + 31
BY VOLUME OF NET SALES 

Kerrville ···················· 11,199 11,726 8,238 -4 + 36Over $1,500,000 ·--------------------22 70.2 69.8 35.7 36.1 
Kingsville ·················· 12,254 14,519 10,435 -16 + 17$500,000 to $1,500,000 ----------------14 55.7 56.2 44.8 46.1 
Kirbyville 2,442 3,998 1,534 -39 + 59$250,000 to $500.000 ·-----------------12 53.1 53.4 39.4 40.3 
La Grange ················ 4,480 4,706 4,048 -5 + 11Less than $250,000 ----·---------------15 48.4 48.0 39.1 40.6 
Levelland ..... 8,067 10,050 6,568 -20 + 23 Littlefield
•Credit sales as a percent of net sales. 6,903 7,852 5,115 -12 + 35 •• Collections during the month as a percent of accounts unpaid on the Llano 1,912 2,650 1,842 -28 + 4 
first of the month. McCamey 2,804 4,467 2,577 -37 + 9 Marlin .... ................... 6,674 6,960 4,957 4
-+ 35 

Mer cedes 4,847 4,299 -35
····· 7,418 	+ 13 

Credit and collection ratios. The ratio of credit sales 	Mission ······················ 7,937 10,695 6,787 -26 + 17 Navasota 5,114 4,594 3,298 
to total net sales in 63 Texas department and apparel stores 	+ 11 + 55 
Odessa 63,108 72,087 50,166
·········· 	-12 + 26

was 69.1 % , or 1.4 points below October 1958 but 0.4 point 
P ecos ........ 17,269 18,712 14,380 -8 + 20
above November 1957. Highest credit ratios were reported Pharr ........................ 4,463 6,154 

3,909 -27 + 14 

by Dallas (80.3%); Fort Worth (71.2%); San Antonio 	Pittsburg 3,124 4,997 2,495 -37 + 25 
Seguin 8,135

(70.4% ); and Galveston 69.1 % ) . ······················ 10,154 7,766 -20 + 5 Sinton ---7, 350 5,410 + 36
The ratio of collections during the month of November 

Sulphur Springs ______ 
8,209 9,294 5,850 -12 + 40

to outstandings at the first of the month was 36.0%, or 38 	Taft 
···························· 2,794 3,284 2,188 -15 + 28
points below the ratio for October 1958 and 0.5 point below Terrell ········· 7,912 7,553 7,053 7 1 
W axat·achie ··········· 10,516 10,945 9,108 4

November 1957. Austin (49.8%), Galveston (48.5%), 	-+ 15 
Weatherford ············ 7,572 9,632 6,800 -21
Bryan (47.7% ), and San Antonio (45.7%) reported the 	+ 11 
Yoakum 10,617 10,973 9,027 -3 + 18
highest collection ratios. Bryan, Cleburne, Dallas, Gal­
6 	TEXAS BUSINESS REVIEW 
The Upper Nueces River Basin 

By MELVIN R. MASON* 
The upper Nueces River basin is a land of contrasts. Verdant, intensely cultivated acres of irrigated cropland differ sharply from the stretches of semi-arid, mesquite­spotted range. Including the watershed of the Nueces River and its tributaries, the basin extends from the rugged heights of the Edwards Plateau to the level Coastal Plain. For the most part the basin is made up of that portion of southwest Texas known as the Brush Country, but within the same region is found the Winter Garden, producing fresh vegetables through the winter. 
The headwaters of the Nueces, along with those of most of its tributaries, rise in the Edwards Plateau. Flowing southeast down through the plains, the Nueces is joined by the Frio and Atascosa Rivers in Live Oak County and finally empties into Nueces Bay on the Gulf. 
Most of the land in the basin is devoted to ranching, for normal rainfall is not sufficient for large-scale farming. In certain areas of fertile soils, however, stores of underground water have been tapped for intensive irrigation. The long drouth took its toll in the basin, hut recent rains have restored growth of grasses on the ranches and have created a favorable situation for the immediate future. Manufactur­ing plays only a minor role in the region. The economy rests primarily on an agricultural base, although discovery of oil, gas, and other minerals has provided substantial support in many of the counties. 
The terrain of the northern sector of the upper basin consists of the rock and stony soils of the Edwards Plateau and of the Balcones Escarpment, the fault between the Plateau and the lower plains country. This upper region, ranging in elevation from 2,500 to 1,000 feet, includes Edwards and Real counties and covers parts of Uvalde and Medina. The counties to the south have soils that are pre­dominantly loams-black, clay, and sandy-and decline toward the Gulf to elevations of less than 250 feet. 
Natural vegetation of the Plateau region is primarily cedar and brush. The rest of the upper Nueces basin is appropriately called the "Brush Country," for natural growth over most of the area is mesquite, catclaw, and huisache. Much of the land now under cultivation was first cleared by chaining. The Nueces (which means "nuts" in Spanish) gets its name from the pecan trees that grow along its hanks. Other native trees found in the basin include oak and liveoak. Uvalde and Medina counties have some cypress and walnut trees, and Zavala has hackberry, mulberry, and cottonwood. There are few heavily wooded areas, however, and most of the basin's acreage remains covered with brush, other scrub growth, and prickly pear. 
The growing season in the upper basin is 260 to 285 days per year, while the average annual precipitation ranges from 20 to 25 inches. Since the length of the growing season and soil conditions are more favorable for agriculture than is the water situation, intensive farming in the basin must be under irrigation. 
• Former member of the staff, Bureau of Business Research. 
Goat and sheep ranching are the chief sources of income for Edwards and Real counties. In fact, Rocksprings, county seat of Edwards County, calls itself the "Goat Capital of the World" and is the home of the registry office of the American Angora Goat Breeders Association. In 1954, year of the last U.S. Census of Agriculture, Edwards County pro­duced more than a million pounds each of mohair and wool. Rocksprings, and Leakey in Real County, are retail centers as well as shipping points for mohair, wool, and livestock. Very little land is cultivated in the two counties because for the most part they consist of the rocky terrain of the Ed­wards Plateau and Balcones Escarpment. Game preserves cater to visiting sportsmen who come to hunt deer and turkey. Thinly populated, the counties have a combined population of about 5,000. 
Immediately south is Uvalde County, its upper section lying on the Edwards Plateau and Balcones Escarpment, its southern section reaching onto the plains and the Winter Garden. Although the northern area is devoted almost ex­clusively to large-scale ranching, 15,000 acres of the plains area are under irrigated cultivation, and 100,000 acres are dry farmed. A county with a growing population (over 18,000), Uvalde is well known for its honey, pecans, and asphalt. The economy of the county, more diversified than that of most others in the region, also includes some manu­facturing, food and minerals processing, and vegetable growing. 
The famous flavor of Uvalde honey owes its distinction to huajillo and catclaw, from which the bees gather nectar. Many bee keepers are transient, moving from place to place for fresh blossoms, and for the migratory beekeeper Uvalde County is a favorite wintering area. 
Rock asphalt mines in the western part of the county near Blewett make Uvalde County the state's largest pro­ducer of this important paving material. The Uvalde Rock Asphalt Company and White's Uvalde Mines employ over 160 people and ship more than 20,000 rail cars throughout Texas, Arkansas, and Louisiana every year. The Southwest Stone Company at Knippa, between Sabinal and Uvalde, crushes basalt, a volcanic rock used in making concrete for building and paving. 
The City of Uvalde accounts for more than half the popu­lation of the county. Largest municipality in the upper Nueces basin, it serves as trade center for a wide area. Five vegetable sheds operate during harvest season to process tomatoes, lettuce, carrots, beans, broccoli, and other crops grown on nearby farms, and two auction rings hold regular sales of livestock brought in by ranchers. Polar-Vac Corpo­ration recently completed a new vegetable cooling plant. Because of its location the city serves as district head­quarters for three large companies: Central Power and Light, Southwestern Bell Telephone, and Southern Ice and Storage. 
Although manufacturing in Uvalde is a relatively minor source of income, it represents the heaviest concentration of industry in the upper Nueces basin. One company pro-
JANUARY 1959 duces agricultural insecticides, while another makes hen cages and agricultural aircraft tanks and hoppers. Other plants produce bedding, soft drinks, pecan candy, concrete pipe, and ready-mixed concrete. Williamson-Dickie Manu­facturing Company operates a garment factory for men's underwear and work clothing, and Southern Ice and Stor­age processes meats. In eastern Uvalde County two plants at Sabinal produce feeds for livestock and poultry, and one makes medicine for cattle and sheep. 

The City of Uvalde and the irrigated farms secure water from deep wells. The county is practicing water conserva­tion through the construction of injection dams which divert flood waters into crevices and caverns, with a view to restoring the underground supply. Only last year county residents voted a $400,000 bond issue to further the pro­gram. 
More evidence of conservation activity centered at Uvalde is the grass seed cleaning plant owned by the Nueces-Frio-Sabinal Soil Conservation District. In 1956 the plant cleaned over 650,000 pounds of seed, mostly buffel grass. The district is experimenting to find grasses that will thrive on the range during periods of scant rain· fall. Recent enlargement of the cleaning plant has doubled its capacity. 
In addition to its agriculture and manufacturing, the county derives income from tourists and visiting sportsmen. Garner State Park (named for former vice-president John Nance Garner, whose home is in Uvalde) attracts visitors to the Frio River in the hill country for camping, picnicking, and swimming. In other parts of the county sportsmen hunt javelinas, turkeys, squirrels, quail, and doves, and other game including coyotes, bobcats, and mountain lions. Fishermen catch large numbers of pan fish, black bass, and catfish in the Nueces and Frio rivers. 
While there is considerable irrigation farming around Uvalde, the real heart of Texas' Winter Garden lies in Zavala and Dimmit Counties, immediately to the south. Approximately 110,000 acres of irrigated cropland in the two counties produce an abundant harvest of fresh vege­tables when northern sections of the United States are covered with ice and snow. Spinach, cauliflower, tomatoes, lettuce, peppers, peas, beans, onions, carrots, eggplant, squash, brussel sprouts, and melons are included on the long list of fresh foods grown in the area. Bedded plants, shipped to all parts of the nation, are also a substantial source of income in the Winter Garden. Truck farmers get most of their water from underground wells, although some is taken from rivers and streams. Irrigated acreage is used for growing cotton and grain as well as vegetables. The long growing season of 270-280 days permits double cropping. Average January temperatures are in the mid­fifties, while July averages in the eighties. 
Truck farming centers around Crystal City in Zavala County and Carrizo Springs, ten miles south in Dimmit County. Crystal City, which displays a statue of Popeye in the town square to advertise its title, "Spinach Capital of the World," is the home of three vegetable processing plants. California Packing Corporation, a division of Del Monte, cans spinach and other vegetables grown on its farms in the area. Crystal City Canneries cans spinach, blackeyed peas, and sauerkraut, using the produce of inde­pendent farmers. One of the newer companies in the city is Winter Garden Processors, Inc., whose freezing plant has a capacity of 40,000 pounds of frozen spinach daily. 
Although Winter Garden farming is of tremendous im· portance to this part of the state, by far the greater part. of the two counties is devoted to large-scale ranching. Car~1zo Springs, especially, is an important shipping point for h~e­stock since it is a southern terminus for the Missouri-Pacific Railroad. In Crystal City a manufacturer makes cattle chutes, iron culverts, and other items needed by ranchers, while a grain elevator and feed mill produces livestock feeds. 

Exploitation of minerals is of some importance in the counties. Asphalt is mined in Zavala County and shipped from La Pryor. Two years ago, Texas Calgary Company built a $275,000 pipeline system and refinery near Carrizo Springs to handle oil production in the Carrizo oil fields. Initial capacity of the refinery was 2,000 barrels of finished petroleum products per day. 
Another county in the upper Nueces River basin is Medina. Although a third of the northeastern part of the county drains into the Medina River, the rest of its territory is in the Frio watershed and therefore is considered a part of the Nueces basin. Medina's economy is based on agri­culture. Raising beef cattle, sheep, and goats is the main activity, but there is also farming of dry and irrigated land around Devine and Natalia. Manufacturing furnishes some additional employment. 
A canning plant, Consolidated Food Processors, Inc., processes corn and other vegetables at Natalia, and a grain mill and elevator operates at Devine. Other industries geared to the agricultural economy of the county include a plant for shelling pecans in Yancey and a livestock and poultry feed company in Hondo. 
The abundant supply of clay in Medina County is utilized by the D'Hanis Brick and Tile Company, whose present plant has been in continuous operation since 1904. Clays imported from England and Tennessee are used in the manufacture of vitreous china bathroom and kitchen fix­tures in the Universal-Rundle plant operated in Hondo. The company employs approximately 150 persons and in 1956 completed a third kiln as an expansion of the plant. 
Other Hondo plants include a soft drink bottling plant and a factory for moccasins and leather handbags. In Devine there is a small operation for constructing wooden door and window frames. 
Medina County is perhaps best known for the historic buildings of Castroville, "Old" D'Hanis, and other settle­ments, founded in the 1840's by colonists from Alsace. Developed by Henri Castro, the towns still have many of the original churches and houses. Lake Medina, in the north­eastern portion of the county, is also well known. Although not in the Nueces River watershed, the lake contributes materially to the county economy. A large number of sum­mer homes, marinas, and fishing and hunting camps are located along its shores, and, since the lake is within easy commuting distance of San Antonio, many residents of that city visit the lake area in any given week, and especially on weekends. 
To the south of Medina lies Frio County, which like most of the other counties depends upon agriculture for its main source of income. While beef cattle are the number one product, the area also raises large quantities of peanuts, grain sorghums, and melons. Proud of a product that has made it famous, the town of Dilley near the southern border has raised a monument to the watermelon. Cotton, feed, and vegetables are other crops grown on the sandy soils with the aid of irrigation. 
TEXAS BUSINE.5S REVIEW 

Since Dilley is located on the Missouri Pacific Railroad, it is an important shipping point for livestock, melons, and other agricultural produce. The main center of Frio County, however, is Pearsall, the county seat. The scene of cattle and hog auctions, this town of 5,000 inhabitants is also the home of several manufacturing plants. Curtis Peanut Com­pany packages shelled peanuts, and Curtis Feed Mills make livestock feeds. Texas Pear Burner Company manufactures prickly pear burners, hand pumps, and spraying equipment used in agriculture. The burners are portable equipment, similar to flame throwers, used for burning the thorns from prickly pears on the range. In periods of drouth these plants are important food sources for cattle. 
A substantial supplement to the income of Frio County comes from production of oil and gas-Frio, Atascosa, and Live Oak are the richest counties, as far as mineral resources are concerned, in the upper Nueces basin. 
Frio County is known for "Bigfoot" Wallace and water­melons, and Crystal City publicizes its spinach. In Atascosa County, though, the important product is peanuts, and the town of Charlotte claims the distinction of being "Peanut Capital of the World." Actually, peanuts are only one of the important crops grown in this agricultural county. Strawberries are such an important facet of the economy around Poteet that an annual Strawberry Festival is held in the community. Watermelons and grains are other sig­nificant products. Drained by the Atascosa River, the county draws upon the stream and wells for irrigation water. 
Despite the importance of the crops, most of Atascosa County is still devoted to livestock raising. Brahman and 
other breeds are raised for beef, while some farmers special­ize in dairy cattle. In Pleasanton the Atascosa Packing Company processes beef, pork, and poultry for shipping to urban centers. San Antonio, in neighboring Bexar County, is a ready market for much of the county's produce. 
A few manufacturing plants are located in the county. West-Land Silica Sand Company at Poteet processes high­grade sand to be used in glass making. A bakery and a plant for making lightweight concrete seismo plugs operate in Pleasanton. Jourdanton has a manufacturer of prepared feeds and a firm producing livestock medicine. 
Oil and gas are becoming increasingly important to the economy of Atascosa County. Over six million barrels of crude were produced in 1956. Humble Oil and Refining Company has a natural gasoline plant at Jourdanton to utilize locally a part of the county's production. Early last year Lone Star Producing Company of Dallas began con­struction of a $3,750,000 natural gas treating installation in the Fashing field. The plant, which will remove acids from the sour gas of ten of Lone Star's own wells, will have the capacity to deliver 100 million cubic feet of treated and dehydrated gas daily. 
Three remaining counties located entirely within the upper Nueces basin, La Salle, McMullen, and Live Oak, have two principal characteristics in common. They de­pend upon ranching as the main economic activity, and they have supplemental income from oil and gas resources. 
Activity in La Salle County centers around Cotulla, the county seat, which serves as international headquarters for the Pan-American Zebu Association, a registry for pure­bred cattle. The scrub longhorns of the Texas range of fifty 
HOURS AND EARNI NGS 
Source: Texas Employment Commission in cooperation with the Bureau of Labor Statistics, U. S. Department of Labor. 

Average weekly earnings 
Average weekly hours Average hourly earnings

Nov• Oct Nov Nov• 
Oct Nov Nov* Oct Nov
Industry 1958 

1958 1957 1958 1958 1957 1958 1958 1957 
A LL MAN UFACT U RING................. Durable goods -------···-·-----------------------------------­P r imary metals........................................... Machinery, except electrical...................  $86.32 86.31 97.14 90.07  $85.49 86.11 94.87 90.07  $84.65 84.87 94.86 90.61  41.3 41.9 38.7 41.7  41.1 41.8 38.1 41.7  40 .5 41.0 39.2 41.0  $2.09 2.06 2.51 2.16  $2.08 2.06 2.49 2.16  $2.09 2.07 2.42 2.21  
Oil fi eld machinery................................ Transportation Equipment .....................  97.47 104.67  96.00 105.06  92.23 101.34  41.3 39.8  41.2 40 .1  40.1 40.7  2.36 2.63  2.33 2.62  2.30 2.49  
F abricated metal pr oducts...................... Lumber and wood products,  82.98  83.80  82.80  41.7  41.9  42.9  1.99  2.00  1.93  
except furniture.·---------------------­----­----­--- 57.04  58.72  53 .75  46.0  46.6  43.0  1.24  1.26  1.25  
Furniture and fixtures.............................  65.38  66.84  59.85  43.3  43.4  39.9  1.51  1.54  1.50  
Stone, clay, and glass p roducts.............  77.53  76.90  70.35  43.8  43.2  40.2  1.77  1.78  1.75  
Nondurable goods.... ­--------------­--­----
------­---­-­ 85.88  85.67  84.61  40.7  40.6  40.1  2.11  2.11  2.11  
Textile mill product s................................  60.05  59.64  58.79  43.2  42.6  42.6  1.39  1.40  1.38  
Broad woven fabric mills........................  55.94  53.56  55.70  42.7  41.2  42.2  1.31  1.30  1.32  
Apparel and fabric products..................  45.38  46.62  43.79  36.6  37.6  35.6  1.24  1.24  1.23  
Food and kindred products....................  74.46  74.57  72.50  41.6  41.2  40.5  1.79  1.81  1.79  
Meat packing..............................................  91.65  87.91  94.08  39.0  38.9  39.2  2.35  2.26  2.40  
Printing, publishing,  
a llied industries......................................  91.26  95.25  87.70  37.4  38.1  37.8  2.44  2.50  2.32  
P aper a nd allied pr oducts.......................  95.87  99.23  94.40  42.8  44.1  43.5  2.24  2.25  2.17  
Chemical, allied products ........................  105.22  105.22  103.33  43.3  43 .3  42.7  2.43  2.43  2.42  
Vegetable and anima l  
oi a nd fats.......... --------­--­----------­----­------­- 61.56  63.39  60.38  54.0  56.1  52.5  1.14  1.13  1.15  
Petroleum and coal products..................  114.62  11 1.00  114.17  40.5  39.5  40.2  2.83  2.81  2.84  
Leather a nd leather product s.................  49.63  49.48  47.37  39.7  39.9  38.2  1.25  1.24  1.24  
NONMANUFACTURING  
Mining·-·-··------··----·--­--­--­-----­-------·-····················  110.25  105.22  105.58  44.1  42 .6  42.4  2.50  2.47  2.49  
Crude petroleum product s.......................  112.46  106.62  107 .53  44.1  42.5  42.5  2.55  2.51  2.53  
Sulphur .................... ------­--·-····-·············--····  105.83  98.75  93.45  41.5  39.5  38.3  2.55  2.50  2.44  
Communication and public ut ilities..........  85.84  84.38  82.81  40.3  39.8  41.2  2.13  2.12  2.01  
Retail trade.....................................................  62.88  62.73  58.49  42.2  42 .1  40.9  1.39  1.49  1.43  
Wholesale t rade.. ............................................  87.36  84.05  84.05  41.6  41.0  41.2  ~-10  2.05  2.04  

.:. Preliminary, subject to revision upon receipt of additional reports. 
Figures do not cover proprietors, firm members, other principal executives, or unpaid household workers. 

JANUARY 1959 years ago have given way to new and improved breeds. Hereford, Santa Gertrudis, and Brahman cattle are impor­tant ones in La Salle County. Although a few thousand acres are under cultivation, ranching remains the dominant force in the county. 
Next door McMullen County has the smallest population in the Nuec~s basin. Having less than 2,000 inhabitants, the county, like its neighbor, has little cultivated acreage and is devoted primarily to ranching. Last summer Trans­continental Gas Pipe Line Corporation completed a new gas treating and dehydration plant at. Tilden, the c?~~ty seat. Total cost of the new plant, includmg storage fac1hties and necessary gas lines in the area, is estimated at nearly $2.5 million. The plant will remov.e acid and water fro~ gas before it is sent through pipelines. In 1956 crude 011 production was over 882,000 barrels in McMullen, more than twice the production of La Salle County. . 
Flowing through La Salle and McMullen counties, the 

Frio and Nueces rivers converge with the Atascosa at the 
town called Three Rivers in Live Oak County. About nine 
thousand people live in the county, a?d although most ~f 
the land is devoted to ranching, a thud of the acreag~ is 
under cultivation. Sorghums, cotton, and peanuts are ma1or 
crops, and several thousand acres are irrigated for truck 
farming. . . 
Oil and gas have been vital factors m the economy of 

Live Oak County, especially during the extended drouth. 
Crude oil production in 1956 was over 1,700?000 barrels. 
Three Rivers Refinery and a plant of the Gohad Corpora­
tion produce natural gasoline and other petroleum products. 
In 1956 the Goliad Corporation added a $185,000 butane 
splitter with 1,370 barrels per day capacity. 
In the southeast corner of Live Oak County the Nueces 
River forms Lake Corpus Christi, the 300,000 acre-feet of 
water hacked up behind the new Wesley E. Seale Da~ (See 
September Review). Main water supply for the ~1ty of 
Corpus Christi and industry in the lo~er Nue~es h.asm, the 

lake also furnishes facilities for fishmg, sw1mmmg, and 
other recreation. 
The southernmost area of the upper Nueces basin cuts 
across a corner of Webb County and includes part of the 
oil and gas producing section of Duval County around 
Freer. A boom town in the early thirties, Freer, now a co~­
munity of 2,000, is still headquarters fo~ ~he oil and gas rn­
dustry in that part of the county. ~n addition, ~natural gas 
and LPG plant is operated by Gohad Corporat~o1!. . 
As the foregoing illustrates, economic activity .m the 
upper Nueces River ?asin in diversifi.ed and expandmg. In 
common with other important areas m Texas, furt~er ~~o­
nomic development depends largely upon the ava1lab1h~y 
of more water. Much can be and is being done, however, m 
the more efficient utilization of existing water resources. A 
remarkable example of progress in this directio? is the 
root-plowing and grass reseeding program that 1s trans­
forming much of the Brush County into profitable. grass­
land. Public awareness of the water problem is ~lso 
evidenced in successful and expanding water cons.e~vat10n 
programs in the area. Even apart from the probab1hty that 
the reuion's water resources will be substantially increased 
by fut~re water development program.s, the c?nditio1!s that 
now exist favor the material expans10n of mdustnal ac­
tivity, especially of light manufactur~n.g, in the near f~ture. 
Growing, more prosperous commum~1es and an availa~le, 
easily-trained labor supply are particularly encouragmg 
factors. 

Finance: 
PROPERTY INSURANCE AND THE PEACEFUL ATOM 
By H. IRVING SCHWEPPE* 

Something new is appearing on casualty insurance poli­cies and it is on its way on property insurance covers as weli. The policy-holder is being alerted to it by a rubb~r stamp on the face of the policy, or in some ca~by a shp glued to it, which asks that he read a new exclusion clause that has been incorporated by way of endorsement-a "Nuclear Energy Exclusion." The wording may vary some­what depending on the particular ty~ of casualty cover that is being modified--or rather clanfied, fo~, after al~ the basic forms did not contemplate assumption of the hazards peculiar to atomi~ fission or fusi?n. 
Endorsements appropnate for the vanous types of prop­erty policies are now being considered by the Texas State Board of Insurance. By the time this is published t~~y m~y be decided upon, and then in due time property pohc1es ~ill also be endorsed and the policy-holder duly alerted. Agam, one of the reasons for the endorsement is to make clear that the policy excludes the nuclear hazard; it is not an admission that heretofore the policy embraced such a hazard. 
The endorsements do far more than this: they signal the advent of a new form of insurance against the very hazards they are designed to clarify and exclude. Thus they clear the field in the conventional forms of insurance of the nuclear hazard, and open the way for policy forms, rates, and facilities for writing specific policies covering. the hazard. Nuclear Damage insurance is now a recogmzed form of insurance. 
Thus the peaceful civilian atom can go to wor~. The coverage afforded still, as always, excludes the bell1gerei:it atom. The war risk exclusion, including loss from atomic weapons in any form, is still and will remain in full effect. 
The peaceful atom, of course, is already busy in Texas industry, education, research, and therapy. Our nuclear power plants are still on the drawing boards, but, when they arrive, the Texas insurance industry will be ready to insure them. Industries are already busy using that valu­able nuclear by-product, the radioisotope, in product gaug­ing, radiography, and process control, as well as in wear studies. In well logging and refining, our petroleum industry finds the isotope an able and valued worker. 
With all this progress in peacetime use, however, the 
peaceful atom carries its definite dangers, as does its bellig­
erant counterpart. For insurance purposes, these dangers 
have been placed into three categories. For the moment, in 
this rapidly changing and developing field, the industry 
delineates three nuclear "perils." Endorsements on conven­
tional policies eliminate them, and the new form of nuclear 
insurance insures against them. The first peril is labeled 
"nuclear reaction." This relates to uncontrolled or unex­
pected behavior, or rather misbehavior, of the nuclear 
material in any form-a type of explosion which could be 
minute or catastrophic. This is the "blowup," in common 
parlance. It could come from a bad guess by the engineers 
•Lecturer in Insurance, The University of Texas. 
TEXAS BUSINF.SS REVIEW 

concerned, it could come from failure in mechanical con­trols, or it could come from some condition still unforeseen by science. It would at all times certainly be accidental. 
The second peril is labeled "atomic radiation." This general danger is frequently discussed in the various news media. Technically, atomic radiation is the emission of alpha, beta, and gamma particles by nuclear materials. These emitted particles can severely damage not only all forms of life but property as well-in addition to other harmful effects, they can change the very composition of matter. Here again the damage would be accidental, for there is adequate knowledge of the nature of these emissions to make possible their control through shielding and by other means. 
The third nuclear peril is labeled "radioactive contami­nation." Texans recently had a thorough indoctrination in this danger through the television story of an accident in the Houston area, with the resulting contamination of a home, automobiles, and many other articles, in addition to the building in which the accident occurred. Contamination has posed a distressing situation elsewhere also, for sudden and heavy radioactive bombardment of a building or machinery may be such as to make decontamination im­possible. Thus even where there is no apparent damage to property, the use of property may be terminated because it is impossible for human beings to work in or near it, without danger to human life. 
The exclusion endorsements for property policies will spell out these perils in precise form. Their intent is to take nothing away from the coverage heretofore granted, for obviously heretofore no such hazards existed except in the matter of the use of radium, and, where radium was used, the extent of the radiation hazard as well as other nuclear hazards was considered so small as to be a matter for indi­vidual action on the part of underwriters. Early use of radium had its accidents and injuries, and exclusions regarding it are still found in many policy forms. 
So much for the exclusion endorsements. The story of how the insurance industry can now undertake the risk of the peaceful atom is indeed worth telling, for behind such an undertaking lie several decades of work, experimenta­tion, research, and cooperation. The facts are that even since the earliest times of the Manhattan Project and all the other early nuclear research through the war years, insurance worked hand in hand with American industry not only in the experimental job of splitting the atom, but in the construction of the atomic plants and in the preparation and storage of the original supplies of nuclear material. Safety engineering of the insurers developed hand in hand 
Ordinarr Life Insurance Sales in Texas* 
Index • Adjusted for seasonal variation • 1947-1949-100 



CHANGES JN CONDITION OF WEEKLY REPORTING MEMBER 
BANKS JN THE DALLAS FEDERAL RESERVE DISTRICT 

Source: Board of Governors of the Federal Reserve System 
Percent change• 

Nov 1958  Nov 1958  Nov 1957  
from  from  from  
Oct 1958  Nov 1967  Oct 1967  
TOTAL  ASSETS  ·---···--··­ + 2  + 12  ••  
Loans and investments, less  
loans to banks and  
valuation reserves ---·---·  + 2  + 15  
L oans, less loans to banks  
and valuation r eserves ____  + 1  + 9  + 1  
Commercial, industrial, and  
agricultural  loa ns  ___ __ _________ _  + 1  + 10  + 1  
Loans for purchasin g or  
carrying securities -­-----------------­Real estate loans ----------------·---------·­ + 1 + 3  + 11 + 20  + 2 +  
Other loans ... ------·­---·-----·--·-----····---··­ + 2  + 2  +  
Total U .S. Government  
securities  ---------------------------­ + 3  + 29  3  
Treasury bills -­----··-----· --·----··--····----·­ + 80  +103  4  
Treasury certificates of  
indebtedness ·····-----------·--­·-··-----·-­ 2  + 69  9  
Treasury notes -------­-------------·---­Bonds --­-------··-----·· -------··---···-----·----·--­ 3  + 48 + 14  9 ••  
Other securities ·---··-·-·-·-···-----·-----­ + 3  + 15  - 8  
Loans  to  banks  -------­ +817  +293  -53  
Reserves with Federal  
Reserve banks ------­---·------­Cash in vaults ..... ----------·---··--­ - 3••  - 6  + 5 2  
Balances with domestic banks  + 2  + 2  + 8  
Other n et assets ..... ·­---------·---·-· TOTAL LIABILITIES.... Total adjusted deposits ··----·­ + 10 + 3 + 2  + 11 + 12 + 12  + 3••••  
Dem a nd  deposits  - 1  + 1  + 1  
Time deposits  - 2  + 27  - 1  
U. S. Government deposits -----------­Total interbank deposits -------­Domestic banks -·-·-···--·----·····-··--·····-· Foreign banks -----­-----------------------------­ +111 + 4 + 4 + 19  + 186 + 16 + 16 + 6  -34 ••••••  
Borrowings ----------­--------------------­Other liabilities -·-------­·--------­_____  -6 + 26  -15 + 13  +117 + 10  
CAPITAL  ACCOUNTS..  + 2  + 10  ••  

*Percentage changes are based on the week nearest the end of t he month. 
**Change is less than one-half of one percent. 

with the spectacular progress of nuclear science. The secrecy of the earlier scientific activity also covered the work of the insurance companies in the field. Now that Congress since 1954 has permitted the civilian use of the split atom, the story can not only be told, but insurance companies can now approach the dangerous field of atomic insurance with some confidence of ultimate success in writing the appro­priate insurance, as well. 
Recognizing the magnitude of the coverage required, as a result of the possible magnitude of the loss should the peaceful atom run wild, several groups of insurance com­panies have been formed to undertake the appropriate coverage together. Thus the liability for loss incident to any one installation can be spread over many companies, making possible the granting of large limits of loss under the policies. 
These pooling arrangements by the companies have two additional advantages. The first relates to the critical matter of proper safety engineering, including periodical inspec­tions by competent engineers of all places and installations where nuclear materials are used. No one company would have the resources in skills and manpower to provide a countrywide service of such a highly technical nature. By 
LOANS BY SAVIN GS AND LOAN ASSOCIATION S Source : Federal Home L oan Bank of Little R ock 
Percent cha n g e  
Type  N ov 1958  Oct 1958  N ov 1958 N ov 1958 N ov from f r om 1957 Oct 1958 N ov 1957  

Number  
ALL  L OANS  -------­ 3,740  4,339  3,383  - 14  + 11  
Const ruct ion  -·----·­········-­ 817  850  727  - 4  + 12  
P u rchase ---------------···········  1,746  2,082  1,208  - 16  + 44  
Other ---­-------------------------­-­ 1,177  1,407  1,447  - 16  -19  
V alue (thousands of della r s )  
A LL LOANS  -------­ 31,898  36,587  24,871  - 13  + 28  
Construction  ·····-······-·--·­ 8,781  9,209  7,488  - 5  + 17  
Purchase -------------­············  15,889  19,560  11,200  - 19  + 42  
Other  ----····------··--·------------­ 7,227  7,819  6,183  - 8  + 17  

pooling resources, the companies are not only able to main­tain such technicians, but to continue their training and increase their skills in this rapidly developing technology. 
A second advantage of such a pooling arrangement is its ability to attract foreign reinsurance. By pooling their resources, capitol stock insurance companies have achieved a capacity for writing property insurance to the extent of $39,000,000 per risk, and they can supplement this when necessary by some $19,000,000 in quota-share foreign reinsurance. In addition, mutual insurance companies have organized a combination property damage and liability insurance pool, with large capacity. Among the stock com­panies there is also a Nuclear Energy Liability Insurance Association which undertakes personal injury liability and similar risks to go along with the property coverages avail­able. By such means, the insurance industry, both nationally and in Texas, is contributing materially to progress in the peacetime use of nuclear energy by reducing the financial risks incident to such use. 
REVENUE RECEIPTS OF THE STATE COMPTROLLER 
Source: State Comp troller of Public Accoun ts 
Septem ber 1-N ovember 30 
P ercent Accoant 1958 1957 change 
T OT AL  ------------------­__ -------------------$237,602,075  $242,174,568  - 2  
Ad valor em. inheritan ce, and  
poll taxes -­-----------------------------------------­ 5,276,596  6,648,122  -21  
N a tural a nd casinghead gas  
p r oduction  t a xes ............................. .  10,495,895  9,620,758  + 9  
Crude oil production t axes ---------------­ 31,997,810  34,122,85 4  6  
Other g r oss r eceipts a nd  
production  taxes  -------------------------­-­ 5,485,912  5,614,654  2  
Insurance compan ies and oth er  
occupation  t axes  ........................... .  241,056  168,001  + 43  
Motor  fuel  t a xes  (net)  --­----------------­ 42,678,505  42,388,394  + 1  
Cigarette t ax a nd licenses ................. .  12,3 97,334  11,536,304  + 7  
Alcoholic beverag e t a x es  
and licenses ....................................... .  9,187,283  9,431,044  3  
Autom obile a nd ot her sales tax es --­- 4,586,951  5,106,551  -10  
All licen ses and fees ........................... .  9,430,831  8,93 4,9 62  + 6  
F ranchise taxes ........................... .  788,986  732,270  + 8  
Miner a l leases, la nd sales,  
r entals, and bon uses ...................... .  7,172,924  4,075,799  + 76  
Oil a nd g as r oyalties --------­ 7,380,730  6,989,344  + 6  
Inter est earned -----------------------------------­ 6,005,503  8,169,521  -26  
Unclass ified r eceipts ---------------------------­Other miscella n eous r even ue ........... .  20 ,447,974 3,235,778  20 ,690,767 2,979,514  -1 + 9  
Federal aid for h ighways  20,318,592  29 ,793,600  -32  
Federal aid for public welfa re -----­-­ 35,456,302  30,459,071  + 16  
Other feder a l a id --­--------­-------­--------·--­ 4,871,588  4, 349,354  + 12  
Donations a nd gran ts ....................... .  145,525  363,684  -60  

Construction: 


FIFTH CONSECUTIVE MONTHLY PERMIT RECORD IN NOVEMBER 
By ROBERT H. DRENNER 
An estimated $89,168,000 in urban building construc­tion was authorized in Texas in November, a new record for the month (9% greater than the previous November high in 1954) and the fifth consecutive monthly permit record set this year. The November figure was 34% greater than authorizations in the same month last year, and as a result the 1958 cumulative total increased its im­provement over the comparable 1957 period from 15% for the first ten months to 16% . November authorizations, however, declined 11 % from October. A small decline from October is normal, but the actual decrease pushed the ad­justed index down from 258 in October to 239. 
Building Construction in Texas* 
Index , Adjusted fo r seasonal variation , 1947-1949-100 . 

300 
300 
I
250 
250
( I 
/~ 
200 
200 



1 'ti v
j

/I A 
150 
150
~ 
·~ 
w Ii
100 
100
f" 
'l !/
A 
I
50 
50
1'-.l ' IV 
..,_,'" 
~ 
0 
..
1940 41 42 43 44 45 46 
47 
48 
49 
50 51 52 53 54 55 56 57 58 ° 
·value of building construction authorized. 
RESIDENTIAL 
Approximately $52,579,000 in new residential construc­tion was authorized in Texas in November, an amount 5% greater than the previous November record (also in 1954). There have been seven new monthly highs in residential authorizations so far in 1958; five of these occurred in the second half. In general, authorizations in the first half were slightly below those of the comparable months in the July 1954-June 1955 period, when the largest previous 12­month residential permit total was established in Texas. Authorizations in the first 11 months of 1958, however, were only 2% below the 12-month total in 1954-55; De· cember permits will push 1958 authorizations at least 4% above the highest total ever recorded in any consecutive 12 months, and about 17% higher than the previous record annual total in 1955. 
November residential authorizations were 69% above the same month last year. As a result, the cumulative gain over 1957 of 34% that had been recorded through October rose to 36% in the 11-month comparison. However, No­vember permits were 15% under the October level and since the normal seasonal decline from October to Novem: her is only about 5%, the adjusted residential index fell from 318 in October to 285. 
Residential building authorized in Texas in November constituted 65% of the value of all new building authorized during the month; single-family residences alone accounted for 59% of the total and for 91 % of all residential author­izations. Permits for 5,483 new urban dwelling units 
TEXAS BUSINESS REVIEW 
(2,624 or 48% of which were in the state's five largest cities) with an average construction cost of $9,600 were issued-an average cost that was $600 less than the Jan­uary-October average. Builders in Texas are apparently continuing their emphasis on lower-priced homes, a trend that seems to be characteristic of residential building over the nation generally. 
Permits for multiple-family dwellings (duplexes and apartments, primarily) declined 9% from October; the 11­month total, however, was 161 % above January-November 1957. Duplex authorizations rose 70%, but apartment per­mits, which accounted for 83% of the value of all multiple­family building authorized, fell 13% from October. Eleven­month apartment permits, however, were still 213% above similar permits issued in the same month last year. 
City-by-city residential authorizations indicate that the 11-month statewide improvement over the same period last year was largely the result of even more marked increases among the state's 20 largest cities. Together these ac­counted for 71 % of all new dwelling units authorized, and in 11 of these-Abilene, Amarillo, Corpus Christi, Dallas, El Paso, Lubbock, Odessa, San Antonio, Tyler, and Waco­the increase from 1957 exceeded 40%. 
New residential authorizations in December 1957 were at a relatively high level, but the December 1958 figure will probably be as large. In the longer view, however, the future course of residential building, both nationally and in Texas, will depend largely upon continued recovery from the recession and on further governmental credit as­sistance. If economic recovery stimulates a marked rise in interest rates, as it seems likely to do, action will be neces­sary to maintain FHA and VA mortgage yields in a com­petitive position (interest rates have already risen enough in recent months to sharply reduce the attractiveness of VA home loan mortgages). Given a substantial interest rate increase, and a failure to either raise the permissible rates on FHA and VA loans or to allow the builder to pass on to the home buyer the necessary mortgage discount, private residential building next year will show a marked letdown from the 1958 level. But it is widely anticipated that the federal government will give the necessary encouragement, in one form or another, to prevent a substantial decline. 
NONRESIDENTIAL 
New nonresidential building authorized in Texas in No­vember totaled $28,135,000, a decrease of 4% from Oc­tober and 8% from November of last year. Since November usually shows a moderate seasonal rise from October in the nonresidential category, the adjusted nonresidential index fell to 181 from October's 197. The 11-month total was 3% below January-November 1957, the same decrease as in the 10-month cumulative comparison. 
As usual, there were wide variations from the November showing of the general nonresidential category by the various subcategories that constitute it. Month-to-month changes in each of these subcategories also tend to be ex­treme; they are, therefore, relatively insignificant apart from their influence on the cumulative record of the sub­category in question. The characteristically large month­to-month changes are the result, apart from seasonal factors peculiar to each subcategory, of the relatively small num­ber of individual projects ordinarily authorized in a given month and the extremely large value of some of these pro­jects. The most significant October-to-November changes 
JANUARY 1959 in the various nonresidential subcategories were in author­izations for new bowling alleys, theaters, and other types of amusement buildings ( +190%, and +60% in the 11­month comparison), churches ( +46%, and +11 % ) , fac­tories (-66%, and -32%), hospitals (-42%, and -39%), office-bank buildings (+141 %, and -2%), schools (+12%, and -2%), and stores ( -41%, and +103 ). 
December 1957 and January 1958 were relatively poor months in total nonresidential authorizations, and the com­ing two months should both compare favorably with the appropriate months a year earlier. Continued recovery of nonresidential building, however, is contingent upon both an upward movement in economic activity and a sustained high level of spending for building construction by federal, state, and local governments. It is generally expected that both of these major supports will be present in 1959. Though a large increase in nonresidential building next year is not being widely forecast, a small improvement is anticipated. 
ESTIMATED VALUE OF BUILDING AUTHORIZED 
Source: Bureau of Business Research in cooperation with the Bureau 
of Labor Statistics, U. S. Department of Labor 
J anuary-November  
N ov  P er cent  
Classificat ion  1958  1958  1957  change  

T housands of dollars  
CONSTRUCTION  CLASS  
ALL  P ERMITS  89,168  l,103,928  949,819  + 16  
R esidential  (housekeeping) __  52,579  646, 632  475,325  + 36  
One-fam ily  dwellings  --·---··  47,714  592,719  454,700  + 30  
Mult iple-family  
dwellings ---------------------------­ 4,865  53,914  20,624  + 161  
N on residential buildings -------­ 28, 135  348,806  359,942  - 3  
Non housekeeping buildings  
( r esidential)  -------­ 499  11,348  6,711  + 69  
Amusemen t  buildings  ------­- 1,232  10,183  6,356  + 60  
Churches ----------­---­ 2,912  35,382  32,008  + 11  
F actories and wor kshops ____  1,570  24,308  35,837  -32  
Ga r ages (commercial and  
private)  ---------------------------­ 583  4,676  8,400  -44  
Ser vice stations -------------------­ 695  8,885  11,547  -23  
Institution al bu ildings -----­ 956  15,622  25,672  -39  
Office-bank bu ildings* ________  5,554  59,360  67,990  +  2  
W orks a nd utilities -----­-----­ 388  13,341  18,881  -29  
Educational buildings -------­ 9,730  86,943  88,693  - 2  
Stores a nd m ercantile  
buildings  3,401  65,528  59,631  + 10  
Oth er buildings and  
structuresf  ------------­ 615  13,230  9,841  + 34  
Additions, a lter ations,  
a nd  r epair s§  ------------------­- 8,454  108,49()  113,022  - 4  
METRO P OLITAN vs. NON- 
METROPOLITANt  
Total  Metrop olitan  -----------­-------­ 66,310  831,033  726,151  +  14  
Central cit ies ----------------------­- 56,686  708,792  639,205  + 11  
Outs ide cen t r a l cities ----­--­ 9,624  122,241  86,946  + 41  
T ot a l  non-m etropolitan  22,858  272,895  223,668  +  22  
10,000 to 50,000  
population  ------­------­ 15,529  196,987  161,423  + 22  
L ess t ha n 10,000  
population  --------------­ 7,329  75,908  62,245  + 22  

*Includes public (nonfederal) administration buildina'S beginning July 1957. 
tAs defined in 1950 census. 
tincludes government (nonfederal) service buildings beginning J uly 1957. 
§Includes additions and alterations to public buildings beginning July 1957. 


Local Business 


Percent Change  Percent Change  
Nov 1958  Nov 1958  Nov 1958  Nov 1958  
Nov  fro­m  from  Nov  from  from  
City and item  1958  Oct 1958  Nov 1957  City and item  1958  Oct 1958  Nov 1957  
ABILENE (pop. 55,000r) Retail sales Lumber, building material, and hardware stores ____ Postal receipts• -------­-­--­----------­-----­----$ 98,215 Building permits, less federal contracts S 1,893,911 Bank debits (thousands) --------------------­--$ 82,044 End-of-month deposits (thousands) t _$ 62,397 Annual rate of deposit turnover ______ _ Employment --­---------------------------------­Manufacturing employment . Percent unemployed -------------------············ 16.0 31,300 4,26() 4.9  6 7 8 -12 + 2 -12 + 1 1 4  + 23 + 35 + 54 + 5 + 8 + + 11 + 23  BEAUMONT (pop. l22,485r) R etail sales ---·-­Apparel stores --------·---·----·----·· Automotive stores .. Eating and drinking places Food stores ---­-------·--­---­Furniture and household appliance stores ...... --------------------­Gasoline and service stations ............. General merchandise stores _____ _ Lumber, building material, and hardware stores  7 1 + 2 2 + 9 + 13 17 +  -15 -17 -8 -8 •• -9 + 16 -28 + 22  
AMARILLO (pop. l25,049r) Retail sales ---------------------------­---------------------­Apparel stores ___ -------------------------------­--­Automotive stores ·······················-····----·· Drug stores ........................................ Eating and drinking places ---------------­Furniture and household  + •• + 13 2 +  + 8 + 4 + 13 7 -1  Building permits, less federal contracts $ Bank debits (thousands) ----------·­S End-of-month deposits (thousands) t $ Annual rate of deposit turnover Employment (area ) ____ _ Manufacturing employment (area) __ Percent unemployed (area) __ _  857,435 147,561 113,794 16.2 85,100 26,590 10·.2.  -38 2 + 8 6 1 2 4  -26 2 + 1 + 1 4 8 +137  
appliance stores ·----------·---------------------­Liquor stores ....... Lumber, building material, and hardware stores ------------------------·····--· Postal r eceipts* ------------------­---­-----------------$ 230,059 Building permits, less federal contracts $ 1,401,516 Bank debits (thousan ds) ________________________$ 191,559 End-of-month deposits (thousands ) t _ 
$ 119,976  2 + 6 -27 + 29 -34 -12 ••  + 15 + 22 •• + 13 -2 + 13 + 13  BEEVIT..LE (pop. I0,500r) Postal receipts• ----------------------------------------­$ Building permits, less federal contracts $ Bank debits (thousands) _. _____________ ___________ $ End-of-month deposits (thousands )t $ Annual rate of deposit turnover ___________ _ 9,703 53,200 8,902 13,945 7.7  -18 -84 3 + 2 6  + 5 -35 + 7 + 5 ••  
Annual rate of deposit turnover _______ _ Employment -------­-----­----------------------­Manufacturing employment ·····----------­Percent unemployed ----------------------­----------­ 19.1 50,10() 5,840· 3.6  -13 •••• + 6  1 + 1 + 6 -29  BIG SPRING (pop. 24,442r) R etail sales Apparel stores -----------·------·-------·------------­Lumber, building material, and  - 19  + 36  
ARLINGTON (pop. 27,550r) Postal receipts• ----··----·-·-----------------------------$ Building permits, less f ederal contracts $ Employment (ar ea ) ----·--·---·-----­Manufacturing employment (area)  34,478 817,359 194,000 53,675  + 21 -36 + + 4  + 34 + 88 •• -2  hardware stores ------------------­--·········-··· Postal receipts• ---------------------·----·--------·------$ Building permits, less f eder al contracts $ BORGER (pop. 18,059)  25,583 222,625  -19 -10 -15  + 34 + 52 + 95  
Percent unemployed (area)  -·-----------------­ 5.5  **  -14  Postal  receipts•  --------------­-·----------------·---$  16,944  -11  + 7  
AUSTIN (pop. 186,000r) Retail sales ---·-----·-------------------------·-­---·­------­Apparel stores ---------------------·-··········-··---­Automotive stores ---------------------------···---­ -1 -9 -15  + 2 -1 -17  Building permits, less federal contracts $ Bank debits (thousands) --·-------------­-----$ End-of-month deposits (thousands) t $ Annual rate of deposit turnover  276,901 17,040 17,371 12.1  -46 1 + 6 8  -62  
Eating and drinking places -·-·----·---·--· Food stores --·-·--------·-------·---­·------------·-----­Furniture and household appliance stores ················-----------------­Gasoline and service stations -----------­Lumber, building material, and hardware stores --------------------..·-·····--··­Postal receipts* --------------------·-------·-------------$  323,781  + 6 + 2. 8 + 6 + 1 1  + 24 + 2 + 11 + 3 -21 + 18  BRADY (pop. 5,944) Postal receipts* -----------------------­---·-­__ ___ __ __
_$ Building permits, less federal contracts S Bank debits (thousands) ---------------·-------­$ End-of-month deposits (thousands)+ $ Annual rate of deposit turnover -----------­4.744 5,475 4,575 6,282 8.1  + 9 -32 -16 -14 -12  + 13 + 75 + 28 -14 + 31  
Building permits, less f ederal contracts $ 4,212,658 Bank debits (thousands) --------·--·------------$ 160,46R End-of-month deposits (thousandsH $ 130,411 Annual rate of deposit turnover --­--------­15.1 Employment -------------·-··---­--------------------------­73,300 Manufacturing employment ------­--------­5,42() Percent unemployed --------------------------·-·----· 3.7  + 17 -18 + 6 -22 ••••••  + 34 + 12 + 8 + 5 + 2 + 2••  BRENHAM (pop. 6,941) Postal receipts• -----------·------­---·----------------.$ Building permits, less federal contracts $ Bank debits (thousands) ------·-----------------$ End-of-month deposits (thousands)t $ Annual rate of deposit turnover __________ _  6,333 23,750 7,413 13,287 6.7  -18 -5() -23 + -25  + 3 -28 + 2 + 6 3  
BAYTOWN (pop. 22,983) Postal receipt s• -------·-----·----·----------------------­$ Building permits, less federal contracts $ Bank debits (thousands) ----------------·--·---­$ End-of-month deposits (thousands H ..$ Annual rate of deposit turnover -----·-----­Employment (area) -------·---··--·----------------Manufacturin g employment (area) 21,124 378,596 19,106 22,620 10.1 439,300 89,175  -12 + 46 6 2 4 + ••  + 22 + 80 -9 -19 -1 •• -6  BROWNSVILLE (pop. 36,066) Retail sales ---------· ·-------·-·------·-----------------·--­Automotive stores ····--------····------­----···---­Lumber, building material, and hardware stores ····---------­------------­------­Postal receipts• ---­-------·---­·-----------------·-------$ Buildinl!' permits, less federal contracts $ 29,674 147,317  -12 -21 -5 -9 +112  + 15 + 14 -4 + 46 -59  
Percent unemployed  (area)  ---------------·---·  5.9  - 5  + 55  
For explanation of symbols, see page 23.  

TEXAS BUSINESS REVIEW 

Conditions 

P ercent Change Percent Change 
:>rov 1958  Nov 1958  Nov 1958  Nov 1958  
N ov  from  from  Nov  from  from  
City and item  1958  Oct 1958  N ov 1957  City and item  1958  Oct 1958  Nov 1957  
BROWNWOOD (pop. 20,181)  DEL RIO (pop. 14,211)  
Retail sales Apparel stores ....................................... . Furniture and household appliance stores ----· ---------·-········ Building permits, less federal contracts $  31,550  5 9 + 54  + 4 + 18 +158  Bu ilding permits , less federal contracts $ Bank debits (thousands) ........................ $ End-of-month deposits (thousands) :t $ Annual rate of deposit turnover ------·····­ 70,124 9,555 11,437 10.1  -48 + 2 3  -38 + 18 + 18 + 4  
Bank debits  (thousands)  ........................ $  10,678  -16  + 5  
End-of-month  deposits  (thousands)+  $ 12,998  - 1  + 11  DEMSON (pop. 17,504)  
Annual rate of deposit turnover  9.9  - 15  - 6  R etail sales  
Automotive stores ························-·-···-···  + 54  - 6  
BRYAN (pop. 23,883r) Retail sales ................................ . Apparel stor es ..................... . Lumber, building material, and hardware stores --··--··-···-···-·················  <• + 2  -5 -16 + 2  Postal r eceipts• .......................................... $ Building permits, less federal contractr $ Bank debits (thousands ) ........................$ End-of-month deposits (thousands ) :t $ Annual rate of deposit turnover ........... . 17,682 69 ,875 15,903 22,480 8.1  -28 -5 -10 -6  + 27 + 92 + 3 + 27 -22  
Posta l r eceip ts* ......................................... $  19,842  -17  + 4.  
Building permits, less federal contracts $  121,187  -45  + 46  EDINBURG (pop. 15,993r) Postal receipts* .......................................... $  10,434  ••  + 31  
CORPUS CHRISTI (pop. 165,458u) R etail sales ................................................... . Apparel stores ....................................... . Automotive stores ---------­----------------­-­----­ + 17 -15 + 23  -5 -10 6  Building permits, less federal contracts $ Bank debits (thousands) ....................... $ End-of-month deposits (thousands) :t $ Annua l rate of deposit t urnover ........... .  113,548 10,336 9,4 08 13.9  + 38 -6 + 12 -10  +295 + 26 + 3 + 17  
L umber, building material, and  
h a rdware stores ..... ......................... . Postal r eceipts* ........ . .......................... $ Building permits, less federal contracts $ Bank debits (thousa nds) ....................... $ End-of-month deposits (thousandsH $ Annual rate of deposit turnover ........... . Employment ............................................... . Manufacturing employment --------­------­Percent unemployed ................................. . 149,112 1,370,908 172,280 117,072 17.6 65,400 8,440 6.2  + 2 7 -8 ** -9 + •• ••  + 2 + 20 + 67 4 + 2 7 + 1 + + 24  EL PASO (pop. 244,400r) R etail sales Apparel stores .......... . Automotive stores ... --------------············-·-· Drug stores ............................................ . Office, stor e, and sch ool supply dealers .................................. . General merchandise stores ---·-··-········ Lumber , building material, and  -7 -28 5 -3 -14 + 7  -5 -37 -22 + 17 3 + 44  
hard ware stores  ___  --­-·-·······-··---­ -11  + 7  
CORSICANA (pop. 19,211) Postal r eceipts* ..........................................$ Building permits, less federal contracts $ Bank debits (thousands) ........................ $ End-of-month deposits (thousandsH $ Annual rate of deposit turnover ........... . 22,305 93,850 17,191 22,167 9.2  -6 -30 -15 -1 -16  -13 + 66 + 16 + 2 + 11  Postal receipts• . ......................... $ 241,052 Building permits, less federal contracts S 4,697,929 Bank debits (thousa nds) ........................ $ 314,638 End-of-month deposits (thousands )j: S 168,226 Annual rate of deposit turnover ··--·-·· Employment ............................................. . Manufacturing employment ··--·--········· 23.2 82,900 13,560  -8 -23 2 + 6 •• -2  + 15 + 44 + 10 + 7 4 + 4 ••  
Percent unemployed  ................................. .  3.8  + 12  - 7  
DALLAS (pop. 621,500r)  
Retail sales .. Apparel stores ........................................ Automotive stores ----------------------····-------­Eating and drinking places ............... . Florists ..... Food stores --­·········-·······---------·--··-----------­Furniture a nd household appliance stores --------------------------·······­Garoline and service stations -···--------·· General merchandise stores ···--------·-·-··· J ewelry stor es ....................................... . Lumber, building material, a nd hardware stores -···--· ---·­-····-··---···-·-··-· Office, store, and school supply d ealers ............ ...................... . P ost al receipts• ...... . .... $ 2,089,67 4 Building permits, less f eder a l contracts $ 8,726,872 Bank d ebits (thousands ) ........................ $ 2,285,451 End-of-month deposits ( t housands ) j: $ 1,139,887 Annual rate of deposit turnover Employment (area ) ................... . Manufacturing employment (area ) 24.4 349,900 85,250  + + 27 -7 + 21 -2 -12 8 2 + 56 -28 -22 -22 + 2 6 + 1 ••  + 3 2 6 + 5 + 30 + 9 + 10 + 2 -11 + 17 + 32 + 2 + 21 -29 + 8 + 15 4 + 1 4.  FORT WORTH (pop. 315,578u) Retail sales ................................................... . Apparel stores ....................................... . Automotive stores --------·-·······-··············-· Drug stores ................................... . Eating and drinking places ............... . Furniture and househ old appliance stores -----­·-····-···-················ Gasoline and service stations -----·-······· General merchandise stores ········-··-·-·· H ay, grain and feed ............................. . Lumber, building m aterial, and hardware stores ......... --------·········-··-·-· Postal r eceipts• ......................................... $ Building permits, less federal con tracts $ Bank debits (thousands ) ........................ $ End-of-month deposits (thousands) 1: $ Annual rate of deposit turnover ....... . Employment (area) ................................. . Manufacturing employment (area) Percent unemployed (area) ................... . 695,220 4,109,520 677,044 378,045 21.7 194,000 53,675 5.5  -4 -22 + 12 8 -8 -13 8 + 5 5 -15 + 2 -29 -12 + 2 -12 + 1 + 4••  -1 -12 -17 4 3 + 37 -13 + 1 + 1 + 55 + 12 -30 + 7 + 5 + 3•• -2 -14  

Percent unemployed (area) ................... . 3.6 + 20

+ 
For explanation of symbols, see page 23. 
DECEMBER 1958 
LOCAL BUSINESS CONDITIONS 

P ercent Change 	Percent Change 
Nov 1958 Nov 1958 Nov 1958 Nov 1958 Nov from from Nov from from City and item 1958 Oct 1958 Nov 1957 City and item 1958 Oct 1958 Nov 1957 
GALVESTON (pop. 71,527u) 	HENDERSON (pop. 11,606) 
15 
Apparel stores ---------9 Apparel stores 9 4 Food stores ___________ *':< 
Retail sales -------------­-4 	Retail sales --· ---------·--·----------· --··---·-----·-------•• ­
5 Furniture and household Postal receipts* ------------S 83,920 + 2 + 9 appliance stores ------------------­3 7 Building permits, Jess federal contracts S 640,549 + 75 +112 Lumber, building material, and Bank debits (thousands) -------S 83,164 12 16 hardware stores ___ _ + 3 + 36 End-of-month deposits (thousands)::: S 65,952 + Postal receipts* ·--------------------·---------·-------·-$ 9,763 1 + 25 
Annual rate of deposit turnover 15.4 13 11 Building permits, less federal contracts $ 124,900 +154 + 215 
Employment (area) 47,600 4 Bank debits (thousands) ---------·----$ 8,225 + 8 + 2 
Manufacturing employment (area) 10,800 6 End-of-month deposits (thousands) t $ 16,656 + 
Percent unemployed (area) 7.2 -4 + 16 Annual rate of deposit turnover ------------5.9 + 7 5 

** 
GARLAND (pop. 28,15Ir) 	HEREFORD (pop. 8,500) 
Postal r eceipts* -·-----$ 22,386 -12 + 31 Postal receipts• --------·-----$ 8,414 + 18 
Building permits, Jess federal contracts S 820,364 -12 + 38 

Building permits, less federal contracts $ 100,550 + 38 +526 
Bank debits (thousands) -----------------------S 18,251 + 16 Bank debits (thousands) ------·---·-------------$ 15,026 5 + 38 
End-of-month deposits (thousands ) t S 12,637 12 End-of-month deposits (thousands)t $ 11,159 4 + 12

+ 
Annual rate of deposit turnover ____ 15.8 10 + 21 
Employment (area ) . 349,900 + 1 

Annual rate of deposit turnover ............ 17.8 + 33 

+ 
Manuf acturing employment (area) 85,250 •• 4 
HOUSTON (pop. 700,508u)
Percent unemployed (ar ea) ___ _ 3.6 + + 20 
Retail sales -----------------------------------+ 3 -2 
Apparel stores + 9 -13 
GLADEWATER (pop. 5,305) Automotive stores __________ -----------------------+ 8 -13 

Postal receipts* __ -----------·----$ 4,368 -26 + 12 Drug ---------------	+ + 23
stores 2 
Building permits, less federal contracts $ 27,950 14 + 49 Eating and drinking places + 9 •• 

Food stores _______ ____
Bank debits (thousands) -·····-------_S 3,625 2 + 3 
End-of-month deposits (thousands) t $ 4,995 + 8 Furniture and household 
Annual rate of deposit turnover --·----·­8.6 + 2 9 appliance stores -------------­+ 5 + 11 

E m ployment (area) 25,950 Gasoline and service stations 4 + 3 
Manufacturing employment (area) 4,620 -10 General merchandise stores 2 
Percent unemployed (area.) Lumber, building material, and

4.8 6 + 20 
hardware stores __ 	4 5 
Other retail stores + 4 +GONZALES (pop. 5,659) P ostal receipts* _____________ $ 1,374,452 + 15 Building permits, less federal contracts S 103,600 +266 +352 Building permits, less federal contracts $19,494,680 2 + 94 Bank debits (thousands) ___________ $ 5,555 6 Bank debits (thousands) ---------·--------------$ 2,133,990 12 s 
End-of-month deposits (thousands) t $ 5,255 + 4 End-of-month deposits (thousands)t $ 1,269,341 + 5 + 2 Annual rate of deposit turnover 12.6 11 Annual rate of deposit turnover 20.8 14 Employment (area) 439,300 + •• 
Manufacturing employment (area) 89,175 . 
6GRAND PRAIRIE (pop.14,594) P ercent unemployed (area) -··-·------5.9 -5 + 55 Postal receipts'' ----------------------________ S 26,217 + 44 
+ 71 
Building permits, less federal contracts $ 368,153 -61 +779 
Employment (area) ________ 349,900 IRVING (pop. 40,065r)

+ + 
___ ______$
Manufactur ing em ployment (area) 85,250 •• 4 Postal receipts• ·----··----·------18,894 -7 + 37 Percent unemployed (area) __ 3.6 Building permits, less federal contracts $ l,389,513 +101
+ + 20 	+ 35 
Employment (area) ·---·---· 349,90() 
+ + 
Manufacturing employment (area) 85,250 •• 4GREENVILLE (pop. 17,500r) Percent unemployed (area) _________ 
3.6 + 3 + 20 
Retail sales Apparel stores -8 2 Lumber, building material, and JASPER (pop. 4,403) 
hardware stores ····-···------------········--29 + 7 
Retail sales Postal receipts* ___ __ 
$ 19,549 
-13 + 22 Automotive stores _-----------------------11 -28 Building permits, Jess federal contracts $ 113,100 -36 + 93 General merchandise stor es ---------------­8 •• Bank debits (thousands) ___$ 14,336 14 + 14 Postal receipts• ------------------------·····--------·--·-$ 6,158 4 + 43 End-of-month deposits (thousands )t _S 15,262. + 1 Bank debits (thousands) ---·-------------·-·----$ 6,076
+ 1 + 7 	+ 3 
Annual rate of deposit turnover . 11.3 + 12 	End-of-month deposits (thousands) t S 6,908 1 + 2 Annual rate of deposit turnover _ 10.5 + 5 7 
HARLINGEN (pop. 30,038r) 
Retail sales KILGORE (pop. 9,638) 

Automotive stores __ 	+ 2 + 20 Postal receipts* ---------------··-··---------·-·----·-··--$ 13,407 + + 18 
Postal receipts• ·----S 32,721 4 	Building permits, Jess federal contracts $ 150,270
+ 18 + 23 	+155 
Building permits, less federal contracts $ 189,965 -50 54 Employment (area) -----·--------·-----25,950 •• •• Bank debits (thousands ) _$ 32,722 -14 4 Manufacturing employment (area) 4,620 •• -10 End-of-month deposits (thousands)+ $ 27,814 4 + 18 Percent unemployed (area) -------·----··------4.8 
-6 + 20 
Annual rate of deposit turnover ------------13.8 -11 -18 For explanation of symbola, see Pa&'e 23. 
16 
TEXAS BUSINESS REVIEW 
LOCAL BUSINESS CONDITIONS 

Percent Change  Percent Change  
Nov 1958  Nov 1958  Nov 1958  Nov 1958  
Nov  from  from  N ov  from  from  
City and item  1958  Oct 1958  Nov 1957  City a nd item  1958  Oct 1958  Nov 1957  
KILLEEN (pop. 21,076.. ) Postal receipts• -------------­------­--­-.$ Building permits, less federal contracts $ Bank debifs (thousands) ------------------------$ End-of-month deposits (thousands):j: $ Annual rate of deposit turnover __ 24,702 268,300 7,545 6,646 13.7  -16 -1 -10 + -11  + 3 +358 + 3 -1  McALLEN (pop. 25,326r) Postal receipts''' ·----·--·-----­-------­..$ Building permits, less federal contracts $ Bank debits (thousands ) ---­·-­------­--------­-$ End-of-month deposits (thousands )+ S Annual rate of deposit turnover -------·­--­25,084 815,015 19,812 19,011 12.4  •• + 573 -11 -2 -16  + 29 +1090§ + 3 + 3 ••  
LAMESA (pop. 10,704) Retail sales Automotive stores ----­----­-----------­------­Postal receipts* ---­---­----------­---­$ Building permits, less federal contracts $ Bank debit (thousands) -------­------­·-----­-$ End-of-month deposits (thousands)+ $ Annual rate of deposit turnover 14,755 115,665 23,313 19,008 15.6  -11 -26 -52 •• + 12 -15  + 31 + -4 + 27 + 33 -3  MARSHALL (pop. 25,479r) Retail sales ·­----·-·-­-·-­----­---­Apparel stores ---·­--­·----­--·­------·-----­General merchandise stores ___ __ 
_____ _____ Postal receipts* .. ____________________________ $ Building permits, less federal contracts $ Bank debits (thousands ) __ _______ ____ ____ _$ End-of-mont h deposits (thousands>; $ Annual r ate of deposit turnover 21,235 93,443 15,905 20,087 9.6  4 3 3 + 3 62 + 4 + 2. + 3  + 7 + + 3 + 26 + 5 + 5 •• +  
LAMPASAS (pop. 4,869) Postal receipts* --------------­------------------------­S Bu.ilding permits, less federal contracts $ Bank debits (thousands) _ ____________ _$ End-of-month deposits (thousands)+ $ Annual rate of deposit turnover . 3,840 77,500 5,479 6,604 9.9  -27 5 8 2 8  + 18 +5154 + 29 + 7 + 21  MIDLAND (pop. 50,160R) Postal receipts* ·---------------------·-·-·-·-·---------·­$ Building perm its, less federal contracts $ Bank debits (thousands ) ____________________ ____ $ End-of-mont h deposits (thousands )+ $ Annual rate of deposit turnoTer n ,169• l,637,75(} 80,533 87,380 11.3  -12 -25 7 + 4  + 27 + 19 + 6 + 4 + 4  
LAREDO (pop. 59,350r) Postal receipts• ---------­-------­---­___ $ Building permits, less federal contracts $ Bank debits (thousands) ___ ___ __ _$ End-of-month deposits (thousands)+ $ Annual rate of deposit turnover __ 28,748 64,19(} 24,144 22,173 13.1  + -49 -8 •• -8  + 30 + 51 -7 + 9 -15  MONAHANS (pop. 6,3ll) Postal r eceipts• ---··---··---·-·---·--··------------·--­.$ Building permits, less federal contr acts $ Bank debits (thousands) ·-------··-------·------$ End-of-month deposits (thousands ) + __$ Annual rate of deposit turnover  6,954 94,625 9,110 8,244 13.9  -18 -36 + 11 8  + 31 -16 4 + + 2  
LOCKHART (pop. 5,573) Postal receipts* -­---------·-----·---$  2,912  -26  +  NACOGDOCHES (pop. 12,327) Postal r eceipts• ·-·-···--·--·-·---------­-------------·-­$ 11,343  -23  + 17  
Building permits, less federal contracts S  6,800  -94  -73  Building permits, less feder al contracts S  48,186  + 27  -15  
Bank debits (thousands) ___ ____ S End-of-month deposits (thousands )+ $ 3,339 4,466  6 6  Bank debits (thousands ) ----------·----·---· ___ $ 13,334 End-of-month deposits (thousands )+ ..$ 16,088  - 4..  + f4 + 10  
Annual rate of deposit turnover ...  8.7  5  Annual rate of deposit turnover ----·­ 10.0  - 6  + 4  
LONGVIEW (pop. 34,328r)  NEW BRAUNFELS (pop.12,210)  
Postal receipts'''  ·---­ -·­$ 39,806  - 2  + 83  Postal  receipts* __  -----------......$  16,209  + 4  - 1  
Building permits, less federal contracts $ Bank debits (thousands) _____ _$ End-of-month deposits (thousands) + _S Annual rate of deposit turnover _____ ______ _ Employment area Manufacturing employment (area) Percent unemployed (area) _ 897,338 36,201 35,264 12.6 25,950 4,620· 4.8  + 26 6 + 5 7 •••• 6  + 85 2 -5 + 6•• -10 + 20  Building perm its, less federal contracts $ 78,815 Bank debits (thousands) ____$ 9,470 End-of-month deposits (thousands ) + $ 11,461 Annual rate of deposit turnover __ _____ 10.4 ORANGE (pop. 21,174) Postal r eceipts* -----------------------------------­--­..$ 23,156  -22 + 3 + 10 -4 +  +128 + 9 + 19 -2 + 45  
Building perm its, less federal contracts$  180,199  -57  
LUBBOCK (pop. 134,156r) Retail sales --­-·-----· Apparel stores ___  + 12 + 12  + 17 + 17  Bank debits (t housands) -------------------­----$ End-of-month deposits (thousands ) :j: S Annual rate of deposit turnover ---------­-­ 19,567 21,230 11.2  +  7  -8 •• +  
Lumber, building m aterial, and hardware stores ___ ____ __ _____ _---­--­----------­ + 29  + 19  PALESTINE (pop. 15,063r)  
Postal receipts•  ___ ___________ _$ 188,182  + 24  Postal  receipts*  ------------··------­------·-------­-----­$ 10,717  -21  + 31  
Building permits, less federal contracts S 4,296,483  + 12  +196  Building permits, less federal contracts $  127,300  + 76  +123  
Bank debits  (thousands)  _____$  212,471  + 6  + 20  Bank debits  (thousands )  ________ __ ______________$  8,736  - 4  + 9  
End-of-month  deposits  (thousands H  $ 114,554  + 6  + 15  End-of-mont h  deposits  (thousands) :j:  $ 14,463  + 3  + 7  
Annual rate of deposit turnover ·--­ 22.9  +  +  6  Annual rate of deposit turnover _  7.4  +  4  
Employment  ·-----·-------------­-·--­ 46,900  + 2  + 3  
Manufacturing employment _ Percent unemployed --· --------­--­----·---­ 4,560 4.4  + 2 ••  PAMPA (pop. 20,448r) Retail sales  
Automotive stores ----------------­-------­--------­ + 42  + 13  
LUFKIN {pop. 20,846r)  Postal receipts* ·----------·--·-------­---­·-·--···-----­$ 22,821  + 2  + 24  
Postal receipts" --------------------­. $ Building permits, less federal contracts S Bank debits (thousands) _______ ___ ___ _____ $ End-of-month deposits (thousands) :j: $ 19,525 91,285 20,024 24,093  + -73 -16 + 2  + 29 + -5 + 10  Building permits, less federal contracts $ Bank debits (thousands ) -----------­---·--------$ End-of-month deposits (thousands )+ S Annual rate of deposit turnover ----­---­--­ 382,025 18,906 26,054 8.8  -4(} -8 + 2 -11  + 64 •• + 9 -7  
Annual rate of deposit turnover ------­----­ 10.1  -16  -15  
For explanation of symbols, •ee page 23.  
JANUARY 1959  17  


LOCAL BUSINESS CONDITIONS 

P ercent Change  Percent Change  
City and item  Nov 1958  Nov 1958 from Oct 1958  N ov 1958 from N ov 1957  City and item  Nov 1958  Nov 1958 from Oct 1958  Nov 1958 from No·; 1957  

PARIS (pop. 24,55Ir) R etail sales ------------­---­--­----------------­Appar el stores --------­------------­--­---­---­Lumber , building m ateria l, and hardware stores -·----------------­Postal receipts• -­---­------------------­----------­___ __$ Building permits, Jess federal contracts $ 16,865 159,073  + 2 2 -21 -9 + 21  5 + 4 + 14 + 17 + 163  SAN ANTONIO (pop. 555,000r) R etail sales ·-···-·-···-·-------·------·­····­···-··-·-­--···· Apparel stores ·-----··-------·······----··--­---·-·-·· Automotive stores .................................. Drug stores ·········---------------------­----­--------·­Eating and drinking places ----·­-·---··-·· F ood stores --·-···--­··----·--------·····-····---···--···  + 6 + 4 + 18 9 + 5 + 2  -1 -. •• + • + 3 -14  
Bank debits  (thousands )  ----------------­-------$  16,318  + 1  - 3  Furniture and household  
End-of-month deposits (t housands) t $ Annual rate of deposit turnover -----------­13,997 14.2  + 3 + 5  -8 + 12  appliance stores -------·--···-···-·-··-···--······ Gasoline and service stations ..............  + 4 4  + 20 + 7  
PASADENA (pop. 22,483) Postal receipts• ·-----------------------------------------$ Building permits, less f ederal contracts $  28,541 763,035  -9 -28  + 17 + 49  General merchandise stores ---­-----------­Stationer y stores --------­--------·--···············­Lumber, building material, and h ardware stores -------·--------------­----------­ + 3 8 + 22  + 9 -15  
Employment (area) ---·------­------­Manufacturing employm ent (area)  439,300 89,175  + . 
 - ** 6  Postal r eceipts* ------·····-·---·----·---------·--···--··$ 597,712 Building permits, less federal contracts $ 4,622,920  -4 + 3  + 25  
Percent unemployed (area)  5.9  - 5  + 55  Ilank debits  (thousands)  ----···-­-···-·-·---·--­$ 508,319  -10  + 3  
PLAINVIEW (pop. 14,044) R etail sales Apparel stores ___ -------­--·----·-··-·---·---··--·--· Automotive stores __ Postal r eceipts• ·-----------------··---·--··--­-·----·---­$ Building p ermits, less f ederal contracts $ Bank debits (thousands) _ _____$ 16,120 302,500 34,700  + 7 + 2 -16 + 63  + 38 + 40 + 30 + 43  E nd-of-month deposits (thousands)t __ $ Annual rate of deposit turnover ---·---··-·· Employment ---·······---------------·······-·--·-··-·---­Manufacturing employment ________________ P ercent unemployed SAN MARCOS (pop. 9,980) P ostal r eceipts• ····--------------·-······-·-----­·-·-··--$  390,325 15.6 197,500 23,325 7.2 10,013  + - 9.. 6 5  + 13 -9 •• + + 13 + 9  
End-of-month deposits  (thousands )t  __ $  26,114  Building permits, Jes federal contracts $  369,060  -28  -59  
PORT ARTHUR (pop. 82,150°) R etail sales ---·····-·­·--------··­-----··------------­Apparel stores ----·--·------·----­------­AUtornotive stores .  -3 -5 + 13  -1D -6 -28  Ba nk debits (thousands) ------·-··-··-··-·------$ End-of-month deposits (thousands)t $ Annual rate of deposit turnover -----------­SHERMAN (pop. 25,855r) 7,486 8,821 10.4  + 4 + 5 -14  + 19 + 15 +  
E at ing and drinking places ·----­ - 7  -13  Reta il  sales  ·······-----·-··---·------····-····-------·····-··  8  
Furniture and household  A ppar el stores  ····------------····-·-·­ 2  + 9  
appliance stor es ------------------------­ -11  -28  Furniture and household  
Gener al  m erchan dise stores _____ _  - 8  -15  appliance stor es ············--------·-····----­--­ -20  +  
Lumber, building material, and  Lumber, building material, and  
hardware stores __ Post al receipts• ______ --­----------·------··-­__ __ $ Building permits, less federal contracts $  45,198 476,656  -19 + 11  -26 + 16 + 21  h ardwa re stor es ---·····--------·-····-----------­Postal r eceipts* -------­--------------··-···------··-···--$ Building p ermits, less federal contracts $  27,249 708,420  + -12 + 202  9 + 26 -10  
Bank debits (thousands) ··-···-· __ ______ _$ End-of-month deposits (thousands) t _ 
$ 61,203 45,951  - 7  -11 -2  SLATON (pop. 5,036)  
Annual rate of deposit turnover  ........  16.0  7  -11  P ostal r eceipts•  ·--·····-··--------·····-·-----·····------$  3,582  -24  + 10  
Employment (area )  ·---····--·····-·-·-·-·----­--·--­ 85,100  - 4  Building permits, less federal contracts $  3,750  -95  -88  
Manufacturing employm ent  (area)  ..  26,590  - 8  Bank debits  (thousands )  ------·-····­--·--··-···$  3,678  - 4  + 19  
Percent unemployed (area )  ··--··-·----·------­ 1(}.2  4  +137  End-ofmonth  deposits  (thousands) t  _ 
$ 4,561  + 8  + 18  
RAYMONDVILLE (pop. 9,136) Postal receipts• -······­·---·-------·····--··-----··-·····$ 5,347  + 32  Annual r ate of deposit turnover ·····-··---­Employment (area ) ·-··----·---··-·---­Manufacturing employment (area) -·  10.0 46,900 4,560  -15 + 2 + 2  + 1 + 3 + 2  
Building permits, less f eder al contracts $  27,350  +140  -51  P er cent u nem ployed  (area)  ··--····----·---····  4.4  6  
Bank debits (thousands) ·--···------··------·---$ 5,912 E nd-of-month deposits (thousands) t $ 9,022  -20 -18  + 11 + 9  SNYDER (pop. 14,lllr)  
Annual rate of deposit turnover ·­---------·  7.1  PostRI receipts* ····---------···----····--------·--·----··$ Building permits, less federal contracts $  11,349 271,900  -25 -76  +122  
ROCKDALE (pop. 4,550r) Postal receipts• ··-·······-··---··--·-·-----·---·---·-····$ Building permits, less federal contracts S  3,100 80()  -14 -20  + 6 -76  Bank debits ( thousands ) ····---------··­----··· $ End-of-month deposits (thousands) t __ $ Annual rate of deposit turnover ····-··----­ 14,765 19,915 9.2  + 1 + 6  -10 + 7 -14  
Bank debits (trousands ) ··-·······-····­----··-·$ 3,253 E nd-of-month deposits (thousands) t $ 5,222 Annual rate of deposit turnover ···-----··-· 7.4  6 2 5  -15 -2 -12  SWEETWATER (pop. 13,619) Postal receipts* ··--·-·····-----····-·---·-·-----------·­$ 11,790 Building permits, less federal contracts S 144,050  -37 + 80  + 28  
SAN ANGELO (pop. 62,359r) R etail sales Lumber, building material, and  Bank debits (thousands) -······---------------· $ End-of-month deposits (thousands) t ..$ Annual rate of deposit turnover ·······----­ 13,052 11,805 13.4  1 + 2  + 6 + + 6  
hardware stores --------------------­Postal receipts• ----·-····-­···--···--··--··-·­-....__$  69,256  + 12, + 9  + 14  TAYLOR (pop. 9,071)Retail sales  
Building permits, less f ederal cont racts $ Bank debits (thousands ) ------··-···--·-··---··-$ End-of-month deposits (thousands) t ..$ Annual rate of deposit turnover ............ Employment ·---·--···------··--·-·---·--------­·-------···· Manufacturing employment ·-----··-------· P ercent unemployed --··-·--·---·---·-·--------------·  320,422 47,474 42,720 13.3 22,400 2,840 6.3  + 25 -17 •• -17 + •• -6  + 98 + 7 + 3 + 2 2 4 + 7  Automotive stores ····----···-··--····---·--····---­Postal receipts* ----····----·-·-··-··--·---­--·-····--·­-·$ Building permits, less federal contracts $ Bank debits (thousa nds) ----·······-·-··--------$ End-of-month deposits (thousands)t ..$ Annual r ate of deposit turnover ·--·····---­ 7,314 117,679 6,941 13,433 6.1  •• -21 + 78 -23 -3 -22  -8 -3 +862 •• + 9 -13  
For explanation of ayrohol.o, 1ee page 28.  

TEXAS BUSINESS REVIEW 
LOCAL BUSINESS CONDITIONS 

Percent Change 	Percent Change 
Nov 1958 Nov 1958 Nov 1958 Nov 1958 Nov from from Nov from from City and item 1958 Oct 1958 Nov 1957 City and item 1958 Oct 1958 Nov 1957 
VERNON (pop. 12,651)TEMPLE (pop. 33,912r) 
Postal receipts• ..........................................$ 10,349 -20 + 36 

Retail sales ................................................. . 5 + Building permits, less federal contracts $ 20,000 -89 + 61 
Apparel stores ...................................... . 3 + 2 Bank debits (thousands) ........................ $ 16,013 + 7 + 43 
Furniture and household End-of-month deposits (thousands) t .. $ 21,257 + 4 + 20 

appliance stores ---····-------.................. . -15 9 Annual rate of deposit turnover ........... . 9.2 + 3 + 21 
Postal receipts• .......................................... $ 28,548 -25 + 13 
Building permits, less federal contracts $ 344,000 + 72 + 43 VICTORIA (pop. 49,164r) 
Bank debits (thousands) ........................ $ 19,791 -14 + 15 Retail sales ................................................. . -6 
End-of-month deposits (thousands)t $ 27,429 -3 -8 Apparel stores ....................................... . -8 
Annual rate of deposit turnover ............ 8.5 -13 + 25 Automotive stores ................................ . + 5 -11 

Food stores ............................................. . 5 + 3 
Furniture and household 
TEXARKANA (pop. 31,05lr) appliance stores ...... -------------------------------+ 5 
Lumber, building material, and 

Retail sales ..... . 	+ 12. -2 
hardware stores .. .............................. . -10 2

Apparel stores 	-9 -6 
Postal receipts• ..........................................$ 28,985 -7 + 11

Automotive stores ·-··--··········-·········--··---· + 36 -10 Building permits, less federal contracts $ 232,584 + 16 + 22Postal receipts•ff ........................................ $ 47,804 -20 + 25 Building permits, less federal contracts $ 330,315 + 98 +338 
WACO (pop. 101,824r)
Bank debits (thousands) ff ...................... $ 42,244 9 + 7 

Retail stores .......................... . 	+ 2 + 19

End-of-month deposits (thousands )t .. $ 16,729 + 1 + 4 
Apparel stores ................ 	-6 -6

Annual rate of deposit turnoverff ......... . 14.2 6 + 1 

Florists ..................................................... . -16 -22

Employmentff ............... . 31,850 •• + 2 

F urniture and household
Manufacturing employmentff 4,260 + 4 
appliance stores -·····---------··--------·---····· -7 6
Percent un£ 1nployedff ............ . 7.2 -1 -32 

Building permits, less federal contracts $ 621,515 -15 Bank debits (thousands) ........................ $ 95,411 -8 + 4 End-of-month deposits (thousands)t .. $ 69,944 + 19 + 9
TEXAS CITY (pop. 23,000') 
Annual rate of deposit turnover ........... . 16.4 11 4 
Retail sales 

Employment ............................................... . 47,500 + 1 
Lumber, building material, and Manufacturing employment ............... . 9,030 + 7 

hardware stores .................... -15 + 24 Percent unemployed ................................. . 4.8 + 9 + 14 
Postal receipts• .. .......................................$ 17,888 -18 + 44 
Building permits, less federal contracts $ 290,150 13 + 3 WICHITA FALLS (pop. 103,152r)
Bank debits (thousands) ................. $ 17,970 J 11 -23 Retail sales 
End-of-month deposits (thousands) t ..$ 11,736 + 3 -52 

Automotive stores ------··········--·-·····----····· -20 -37 
Annual rate of deposit turnover ........... . 18.6 -9 + 59 Furniture and household 

Employment (area) . . .................... . 47,600 •• 4 appliance stores ------------·-------····· + 10 + 11

········­Manufacturing employment (area) .. 10,800 6 Lumber, building material, and 
Percent unemployed (area) ................... . 7.2 -4 + 16 hardware stores ................................. . -1 + 40 
Postal receipts• .......................................... $ 94,602 -2 + 24 
Building permits, less federal contracts $ 771,693 64

-+ 66
TYLER (pop. 49,443) 	Bank debits (thousands ) ........................ $ 101,161 -14 + 7 End-of-month deposits (thousands) t ..$ 110,026
Retail sales 	+ 2 + 8 
Annual rate of deposit turnover ........... . 11.2 -15 + 2

Automotive stores ................................. . + 13 -29 

Employment ............................................... . 38,250 

Postal receipts• ..........................................$ 72,018* -15 	+ + 

Manufacturing employment . 3,620· 2
Building permits, less federal contracts $ 534,752 -52 + 62 	•• 
Percent unemployed ................................. . 4.3 ­
Bank debits (thousands) ........................ $ 80,943 -6 + 7 2 + 5 End-of-month deposits (thousands) t .. $ 61,169 •• + 2 
§ Unusual increases in building permits in McAllen are due to the 
Annual rate of deposit turnover ........... . 16.0 -6 + 7 

issuance of a building permit to the city of McAllen for a civic center costing $585,000. 
•Postal receipts for Amarillo and Tyler are for calendar month. Other cities receipts are for the period May SO-June 27. 
UReported by the Bureau of Businl!ll.I and Economic Research, University of Houston, for Harris County. 
f Figures include Texarkana, Arkansas (pop. 19,733) and Texarkana, Te1:aa (pop. 31,051). 
'Revised for use by the Texas Hi11:hway Department. 
•1950 Urbanized Census. 
..Chan11:e is 1-than one-half of one percent. 
tAll unemployment percentatiea represent a percent of total non-agricultural employment only. 
JANUARY 1959 19 
BAROMETERS OF TEXAS BUSINESS 

Nov  Oct  Nov  Year-to-date average  
1958  1958  1957  1958  1957  

GENERAL BUSINESS ACTIVITY 
tTexas business activity, index ......................................................................... _..... _ Miscellaneous freight carloaclings in SW District, index. .............. _................ .. Ordinary life insurance sales, index ............... -..................................................... Wholesale prices in U. S., unadjusted index ....................................................... . iconsumers' prices in Houston, unadjusted index .............................................. .. Consumers' prices in U. S., unadjusted index ..................................................... .  193 78 392 119.2 124.2 123.9  204 78 409 119.0 123.7  187 73 387 118.1 122.4 121.6  195 78 376 119.2 123.6 123.4  196 83 353 117.5 121.5 120  
Income payments to individuals in U.S. (billions, at seasonally  
adjusted annual rate) ............................................... ..................................... ..  s  360.o•  s  357.5  $ 350.2  $ 353.0  s  346.4  
Business failures  (number) ................................................................................ ­ .  41  4-0  45  36  
TRADE  
Total retail sales, index ....................................................................................... _ ...  204•  197•  186  
Durable-goods stores .................. .. ...................................... _ .......................... ..  173.  150•  176  
Nondurable-goods stores ................................................................................. . Ratio of credit sales to net sales in department and apparel stores ................ .. Ratio of collections to outstandings in department and apparel stores ........ ..  220• 69.1 • 36.o•  221• 70.5° 39.8•  191 68.7 36.5  68.4 37,5•  68.l 37.6  
PRODUCTION  
Total electric power consumption, index ...................... .........................................  331 •  340•  327  337•  341  
Industrial electric power consumption, index ................................................ ....... Crude oil production, index .. ............. .......................................................... -........ ..  335• 117•  327• 114•  357 118  328 110  360 130  
Crude oil runs to still1, index ........... ...................................................................... .  144  146  134  135  144  
Gasoline consumption, index ................................................................................. .  188  175  172  
Natural gas production, index ................................................................................ . Industrial production in U.S., index ....................................... -............................ ..  141.  190 138  183 139  133  185 144  
Southern pine production, index...... ........ ............................................................ ..  119  94  106  
Cottonseed crushed, index ...................................................................................... .  138  111  113  
Construction authorized, index ....................... -..................................................... Residential building ....................................................................................... . Nonresidential building ................................................................................. .  239• 285• 181°  2ss• 318. 197.  178 169 196  235• 268. 202•  201 195 211  
AGRICULTURE  
Fann cash income, unadjusted index ............................................................... _ _  230•  248•  158  126.  90  
Prices received by farmers, unadjusted index, 1909-14=100.......................... ..  284  285  264  279  266  
Prices paid by farmers in U. S., unadjusted index, 1909-14=100.................. .. Ratio of Texas farm prices received to V. S. prices paid by farmers ............... .  308 92  307 93  298 89  305 91  295 90  
FINANCE  
Bank debits, index ................................................................................................... ­ 230  243  221  233  230  
Bank debits, U.S., index. ............................................................... -.................. -... ­ 192  213  198  206  200  
Reporting member banks, Dallas Reserve District :  
§Leans (millions) ............................................................................................ . . §Loans and investments (millions) ...................................................... ..... .. .. . Adjusted demand deposits (millions) ....................................................... ... Revenue receipts of the State Comptroller (thousands) ............................ ....... .. Federal Internal Revenue collections (thousands) ................................. ... ........  $ 2,696 $ 4,518 $ 2,697 $ 80,4-02 $216,295  s 2,668 $ 4,436 $ 2,715 $ 90 ,924 $159,329  $ 2,479 s 3,920 s 2,664 $ 83,181 $231,877  $ 2,581 $ 4,255 $ 2,660 $ 85,923 $234,977  $ 2,421 $ 3,918 $ 2,638 $ 84,620 $235,206  
LABOR  
Total nonagricultural employment (thousands)U .... ........................................ .. Total manufacturing employment (thousands)U ...................... ................ .. Durable-goods employment (thousands) U ........................................... .. Nondurable-goods employment (thousands) U.. .....................................  2,481.7 460.5 215.9 244.6  2,471.7 457.0 213.9 243.1  2,479.7 479.7 233.2 246.5  2,451.0 460.6 217.2 243.4  2,468.3 484.7 239.8 244.9  
Employment in 17 labor market areas (thousands) ................................ .. l\fon ufacturing employm ent in 17 labor market areas (thousands)  1,829.3 355.3  1,818.4 354.3  1,815.4 367.9  1,797.9 356.0  1,793.7 375.7  
Total unemplovment in 17 labor market areas  (thousands) .. ..................  101.7  102.8  84.0  116.7  79.l  
Cement shipments, index  ................................................................................ ........  208  213  124  186  178  
Cement production, index  ................................................. ................................. ..  184  201  105  177  151  
Cement consumption, index .................................................................................. ..  188  212  no  183  158  

All figures are for Texas unless otherwise indicated. All indexes are based on the average months for 1947-49, except where indicated: all are adjusted for seuonal variation, except annual Indexes. Employment estimates have been adjusted to first quarter 1957 benchmarks. 
t Based on bank debits in 20 cities, adjusted for price leTel. 
i Index computed for Febru&r7, May, August, and November only. 
f Exclusive of loans to banks after deduction of valuation reserves. 
'II Figures are for wage and salary workers only. Other labor fiirures include proprietors, firm members, self-employed. independent contractors, unpaid ramily and private household workers. 
••Includes lump-sum retroactive salary payments to Federal employees at an annual rate of $4.6 billion ($380 million multiplied by 12). 
•Preliminary. 
TEXAS BUSINESS REVIEW