TEXAS BUSINESS REVIEW VOL. XXXVII, NO. 5 MAY 1963 Editor: Stanley A. Arbingast I Associate Editor: Francis B. May/ Managing Editor: James J. Kelly Editorial Board: Stanley A. Arbingast, Chairman, John R. Stockton, Francis M. May, Robert H. Ryan, James J. Kelly CONTENTS 101: THE BUSINESS SITUATION IN TEXAS by Francis B. May 103: SETTING THE TEXAS ALLOWABLES by A. Cameron Mitchell 106: TEXAS RETAIL TRADE: FIRST QUARTER 1963 by Robert M. Lockwood 108: BUILDING CONSTRUCTION IN TEXAS: FIRST QUARTER 1963 by James J. Kelly 110: HELIUM IN TEXAS by Rick P. Fisher 114: LOCAL BUSINESS CONDITIONS BUSINESS RESEARCH COUNCIL John Arch White, Dean of the College of Business Admin­istration ( ex officio); John R. Stockton; Jim G. Ashburne, Jessamon Dawe, Stephen L. McDonald, E. W. Mumma, David C. Townsend, and W. T. Tucker. COOPERATING FACULTY Charles T. Clark: Associate Professor of Business Sta­ tistics Robert H. Ryan: Special Instructor in Business Commu­ nications Kornelis J. Walraven: Assistant Professor of Finance The Bureau of Business Research is a member of the Associated University Bureaus of Business and Economic Research BUREAU OF BUSINESS RESEARCH Director: John R. Stockton Associate Director and Resources Specialist: Stanley A Arbingast Assistant to the Director: Florence Escott Statistician: Francis B. May Administrative Assistant: Juanita Hammons Research Associate: Charles 0 Bettinger, Robert R. Budd, Alfred G. Dale, Marie Fletcher, James J. Kelly, Ida M. Lambeth, Robert M. Lockwood, Margaret Paulissen, Elizabeth R. Turpin Research Assistant: Stanley Ault, Rick P. Fisher, Sneed Lary, Theodore ten Broeke Administrative Secretarv: Margaret F. Smith Senior Secretary: Elsa Acker Senior Clerk Typist: Linda Beard, Claire Howard, Elnora Mixson, Janet Redding Cartographer: Jo Ann Turk, Ellen Wray Library AssU!tant: Merle Danz StatU!tical Technician: Eva A. Arias Statistical Assistant: Mildred Anderson, Carol Laws, Gary Patterson Clerical Assistant: Mike Pettit, Diana Rausch Offset Press Operator: Robert Dorsett, Daniel P. Rosas · Adm' · t t' Th U · ers't of Texas Au.tin 12 Second-class postag~ ~~id at Austin, Texas. Content o~ t~is. publicat~on is not copyrighted and may be reproduced freely. Acknow gmen o source appreciated. Subscription, $3.00 a year; md1vtdual copies, 25 cents. p bl' h d monthly by the Bureau of Business Research, College of Busmess tms ra ton, e mv t Y Jed • t f · will be THE SEASONALLY ADJUSTED INDEX OF TEXAS BUSINESS activity declined in March for the second consecutive month. At 123.7% of its 1957-59 monthly average value, the March index was 7% below February and 4% below March of last year. In January the index reached a new peak of 138.3% of 1957-59. Examination of past behavior of the index shows that an unusually strong rise is often followed by one or two months of decline. The previous peak value of 137.1% reached in May of last year was followed by declines in June and July. The current decline in the overall index coincided with declines in a substan­tial number of other barometers of Texas business. Seasonally adjusted miscellaneous freight carloadings rose 2% in March. This was the third consecutive rise in this index since its December 1962 low. It is a welcome reversal of decline in the index. Nationally, total cars of revenue freight loaded in March were above March 1961 but slightly below March 1962. Increased shipments of manufactured goods and coal pushed total carloadings ahead of 1962 for the second week in April. Volume for the year was up 3.9% from the national total in 1961 but 3.8% below 1962. The rails are still experiencing heavy competition from other transportation media. Seasonally adjusted March crude petroleum production held almost at the February level. The index value of !l9.0% of 1957-59 was 0.1 % below February. For the first quarter of the year, the index averaged 88.8%, compared with 91.2% for the first quarter of last year. This repre­sents a 2.6% decline in the average value of the index for the quarter. Since the index is based on total production during the month, the evidence is plain that production in Texas for the first quarter was not gaining ground but losing it. Data from the April issue of World Oil support this conclusion. The data show cumulative January- T.EXAS BUSINESS ACTIVITY Index-Adjusted for seasonal variation-1957-1959=100 1951 '52 '53 '54 '55 '56 '57 '58 '59 '61 150 100 50 CRUDE PETROLEUM PRODUCTION · IN TEXAS Jndrx-Arpu1· tetI j or if'fl$Onal 1variation-1957-1959;.J00 150 f-,1\. r\ v A A ~ 'r-J /"""I" ( ,/\ 100 ~ \,J ~'\,._,,~ [,/ IV'-"' v 50 0 0 , , , 1951 '52 '53 '54 '55 '56 '57 '58 59 60 61 62 '63 February 1963 production for Texas at 150.6 million bar­rels, down 4.2% from the 157.2 million barrels for the first two months of 1962. Cumulative January-February 1963 production for Louisiana was 80.4 million barrels, up 4.9% from 76.7 million barrels produced during the first two months of 1962. The index of petroleum produc­tion has been below the 100% value since February 1960. Seasonally adjusted crude oil runs to stills dropped 3% in March. At 108.5% of 1957-59 average monthly runs the index was 5% above March 1962. Warmer weather in March reduced the demand for fuel oil. March demand SELECTED BAROMETERS OF TEXAS BUSINESS (1957-59=100) Percent change Mar 1963 Mar 1963 Mar Feb Mar from from Index 1963 1963 1962 Feb 1963 Mar 1962 Texas business activity. . ....123. 7 132.8 128.3 7 Miscellaneous freight carload­ings in S.W. district. 77.5 75.8 76.6 + 2 Crude petroleum production. 89.0* 89.lr 88.3 ** Crude oil runs to stills..........108.5 111.5 103.4 3 Total electric power consumption .134.6• 139.0r 127.9 3 Industrial power consumption ...125.7* 130.9r 121.6 4 Bank debits ............123.6 133.1 129.2 7 Ordinary life insurance sales ...118.0 131.1 103.5 -10 Total retail sales. . .......117.6* 114.6r 117.6r + 3 Durable-goods sales .133.8* 118.9r 136.5r + 13 Nondurable-goods sales .. .. ...109.2* 112.3r 108.lr -3 Urban building permits issued..137.1 139.5 129.2 -2 Residential .... 122.7 115.3 114.7 + 6 Nonresidential ......152.4 175.9 156.9 -13 Total industrial production. . .113 114 109r -1 Average weekly earnings-manufacturing ............. .100.7* 100.5 101.0 ** Average weekly hours-manufacturing ..111.1 * 110.4 110.9 + 1 4 + + + 5 + 5 + 8 4 + 14 2 + + + 7 3 + 4 Adjusted for seasonal variation. *Preliminary. rRevised. **Change is less than one-half of 1%. for gasoline was 1.7% above last year. Stocks of residual fuel oil were 14.3% above March 1962. Gasoline stocks were 2.1 % above March 1962. April is a month of large seasonal decline in demand, hence the reduction in March runs in order to reduce inventories of refined products. Total electric power consumption fell 3% in March after seasonal adjustment. Industrial power consumption declined 4%. Both indexes were above their March 1962 values. Sales of ordinary life insurance in March dropped 10% after seasonal adjustment. At 118.0% of average monthly sales during the 1957-59 base period the index was still 14% above March 1962. In February the index rose to the second highest value in its history. Retail sales in March rose 3% after taking seasonal factors into account. The rise was caused by improvement ir.. sales of consumer durables, whose index rose 13%. Sales of nondurables slipped downward 3%. In the dur­ables category both automotive stores and lumber, build­ing material, and hardware stores did particularly well. Nationally, March retail sales rose 1% from February after seasonal adjustment. At $20,695 million, national sales were at a new high for the third consecutive month. Increased sales in both durable and nondurable goods contributed to the rise. High personal incomes in the nation are fueling the rise in retail sales. March personal incomes rose to a seasonally adjusted annual rate of $452.7 billion, a new record. Manufacturing payrolls rose RETAIL SALES TRENDS BY KINDS OF BUSINESS Source: Bureau of Business Research in cooperation with the Bureau of the Census, U. S. Department of Commerce Percent change Normal seasonal* Actual Number of--­reporting Mar Mar 1963Mar 1963Jan-Mar 1963 establish-from from from from Kind of business ments Feb Feb 1963 Mar 1962Jan-Mar 1962 DURABLE GOODS Automotive storest .365 Furniture & household appliance storest . .. . 165 Lumber, building material, and hardware stores ....263 NONDURABLE GOODS Apparel stores ..271 Drug stores ..........163 Eating and drinking places 81 Food stores ......374 Gasoline and service stations . . . . . . . . . ..818 General mechandise storest ......317 Other retail storest. .261 -9 + 6 -S + 4 + 9 + 5 -5 -2 +11 +22 -2 -2 +85 +82 •• -2 + 3 + 5 + 8 + 1 +10 +13 •• -1 +12 +16 + 1 + 2 +11 + 9 + 2 •• +44 +21 •• + 1 +13 + 7 •• + 2 •Average seasonal change from preceding month to current month. **Change is less than one-half of 1%. tincludes kinds of business other than classification listed. to a record rate of $95.4 billion. Farm income in March dropped $200 million to $12.7 billion, the lowest rate since last July. March urban building permits slipped down 2% after seasonal adjustment. The total was 6% above March of last year. A 6% month-to-month increase in residential permits was more than offset by a 13% drop in nonresi­dential permits. The March value of the index of total permits is the highest March on record. Construction has been a main­stay of the state's economy. Industrial production declined 1 % in March after sea­sonal adjustment. At 113% of 1957-59, the index was 4% above a year ago. This index is compiled by the Dallas Federal Reserve Bank. The index of average weekly earnings in manufacturing was up 0.2% in March after seasonal factors are taken TEXAS BUSINESS REVIEW into account. At 100.7% of 1957-59 the index was vir­tually unchanged from March 1962. Average weekly hours rose 0.7% from February. This was partially offset by a less-than-seasonal increase in average hourly earnings. 200 ORDINARY LIFE INSU RANCE SALES IN TEXAS lmlu-Adjusted fo r •ea1onal variation -1957-1959=100 200 200 Il ILDl i\'G CO~STRUCTIO:'I !:'\ TEXAS I I r I j I , . -9·9n< ex-At uster or 1eoso11a nirwtion-19.51·1 ,., 200 150 150 150 150 100 100 00 50 50 0 19;:,l 52 53 ·­::i 1 55 ·­::i6 ·-­;:, I ·­;:,8 ;:,9 60 '61 62 63 A glance at the table of indexes of March business ac­tivity in twenty Texas cities shows only three increases. Beaumont, Texarkana, and Tyler had increases of 4%, 3%, and 3%, respectively. El Paso and Lubbock indexes held at their February values. Other indexes showed declines ranging from 2% to 16%. Comparison of March values of the indexes with their year-ago levels shows more plus signs. Austin was 8% above March 1962. Corsicana was up 5%. Houston was up 1%; Laredo, 3%; Lubbock, 4%; San Antonio, 3%; Texarkana, 5%; and Tyler, 6%. March insured unemployment in the state was 3.5% of average covered employment. This was only 61 % of the national rate of 5.7%. It is slightly above the March 1962 figure of 3.1 % for the state. A comparison of March unemployment in Texas and in surrounding states is shown below: March insured unemployment State percent Arkansas 7.4 Louisiana 5.8 New Mexico 5.7 Oklahoma 5.9 Texas 3.5 United States 5.7 The number of insured unemployed in the state was 64,000 in March. Nationally, the figure was 2,348,100. Tot::tl nonagricultural employment in the state was 2,655,000 in March, up 2.3% over March 1962. Employ­ment in durable goods manufacturing rose 1.5% over March of last year. Manufacturing of nondurables em- BUSINESS ACTIVITY INDEX (1957-59= 100) P ercent change Cities Mar 1963 Feb 1963 Mar 1962 Mar 1963 from Feb 1963 Mar 1963 from Mar 1962 Abilene . , , , , , 108.8 117.6 122.0 - 7 -11 Amarillo .114.7 124.4 117.0 - 8 2 Austin , , , , . , .. , , .142.1 165.4 131.8 -14 + 8 Beaumont .114.8 110.3 124.1 + 4 - 7 Corpus Christi .. , , 106.0 116.1 112.0 - 9 5 Corsicana . , , , , , , .111.l 116.7 106.0 - 5 + 5 Dallas El P aso ...... 125.5 , , , , 111.4 149,9 111.2 138.6 116.5 -16 •• 9 4 Fort Worth , .106.2 113.9 114,4 7 7 Galveston 97.1 94.2 97.7 + 3 - 1 Houston , , , , , 126.7 131.0 125.4 3 + 1 Laredo , , , , , , , . , , .129.7 Lubbock , , , , . , , , , , 140.7 136.1 141.2 125.7 135.3 •• + 3 + 4 Port Arthur 94,3 96,2 103.9 - 2 9 San Angelo . , , , 100.6 111.5 107.5 -10 6 San Antonio , , , , , 125.7 131.9 121.7 5 + 3 Texarkana , ....136.2 131.7 129.3 + 3 + 5 Tyler , , ,, , , , , , , .117.8 114.0 111.5 + 3 + 6 Waco . , , , , , , , , , , , 122.0 127.5 128.6 4 - 5 Wichita F alls , , , , , 106,9 116.4 115.l 8 7 Adjusted for seasonal variation . **Change is less than one-half of 1%. ployed 1% fewer persons. Nonmanufacturing employment rose 2.7%. Wholesale and retail trade, finance, insurance and real estate, government, and services all showed gains in employment over March 1962. With employment at a high level and most barometers of Texas business showing gains over l\Iarch of last year, Texas business seems in a strong position to advance with the nation's economy during the remainder of the year, Weakness in some areas is proof enough that we cannot become complacent and relax our efforts designed to strengthen the state's economy. ATLAS OF TEXAS Stanley A. Arbingast, Professor of Resources College of Business Administration Lorrin Kennamer, Associate Professor of Geography College of Arts and Sciences ORDER YOUR COPY FROM BUREAU OF BUSINESS RESEARCH (Texas Residents Add 2% Sales Tax) $3.00 which is producing at or near its full potential. Roughly speaking, a field should be producing at better than a 15-day allowable (or 50% of its capability) to determine MER. Several factors enter into the MER, the type of and the reactions to a particular drive probably being most important. Unfortunately, the only time in recent years that any well flows at a pace rapid enough to de­termine its MER is upon discovery and during the time it is on new-pool rules. However, during this time, the well is operating with dissolved-gas drive; and the reac­tion of the field to the two permanent drives, water and gas-cap, cannot be observed until after the well is sub­jected to shutdown, at which time it is not flowing at a rate fast enough to glean the true nature of the con­ditions. This is the reason that new wells which have an MER assigned to them have an MER in name only. Apparently, the 1947 Yardstick, having little if any­thing to do with conservation, is a holdover from the war. The Yardstick may have some equity overtones, since the deeper the well, the higher the cost and also the more the allowable. During the war, the government bought on the basis of five different types of crude which regularly occuned at different depths. Therefore, the buying was based upon depth. Since that time, the Yardstick has been based on the same principle with the exception that all crude is treated as one type. Several of the older fields under MER which would obtain higher allowables under the Yardstick with pres­ent proration have attempted to change over to the Yardstick. The Commission has been reluctant to allow the change in many cases because, if all the older fields were allowed on the Yardstick, the number of shutdown days would have to be increased. The process of setting the allowable for a given month actually starts six months before when buyers send six­month forecasts of their nominations for purchases to the Railroad Commission. No real action is taken, however, until the week before the statewide nominations hearing. Every buyer of petroleum in the state submits his nomination for the amount of petroleum he intends to buy under a certain allowable. These nominations are usually in the hands of the Commission on the Monday before the statewide meeting. The Bureau of Mines forecast usually arrives during the week before the meeting. Also available are the ques­tionnaires which had been sent to all major producers asking what their desired stock levels are for the month and how much they are over or under. In addition the Commission has obtained the API weekly figures.' The Commission has also estimated the amount of production which might be realized under different proration sched­ules. The last month's allowables are stated, and then any expected additions are made. Based on trends for the past several months, a reduction of from 10% to 12% is made. The reason for the reduction is that the allowables are invariably underproduced by this amount. Thus, with the Bureau of Mines forecast, crude-oil nom­inations, API figures, and stock statistics as basic infor­mation, the Commissioners meet with their staff and work out the forecast of demand. It is impossible to say exactly ~ow the demand estimate is made in general terms. Different factors must be considered at various ti.me~. All that can be said is that the Commissioners con­sider all the relevant material and arrive at a figure. 10G The Commissioners do not consider seasonal variations and trend particularly, but rather base the final esti­mate on common sense. By the time of the statewide hearing, the allowable has been reasonably determined-although not officially. The meetings seem mainly to be occasions where unusual nominations are discussed, and where complaints and problems may be heard. For example, a pipeline company may nominate for smaller allowable than the one expected because the pipeline company may have become over­stocked and would like to lower its stock level. In extreme cases, pipeline owners may have to prorate their pro­ducers on different allowables from the statewide allow­able; such matters as this are considered at the meeting. All of the buyers announce their nominations, and then a discussion period is invited by the Commissioners. A roll call of districts is made. When these formalities are finished, the Commissioners confer, and then announce the allowable. The method of setting the allowable and distributing it among fields may seem haphazard; however, it appar­ently works. Also, it is fairly standardized, so that the producers and buyers know what to expect. A statistical analysis of several monthly series of data relevant to the setting of allowables by the Railroad Com­mission was completed recently. The analysis was per­formed on a computer, since the number of months cov­ered was, in most cases, 180. A brief list of some of the findings follows: 1. The amount of petroleum stocks seemed to have very little influence on the allowables set. This is to be expected since the stocks remain more or less constant. 2. Surprisingly, the level of imports was found to be virtually unrelated to the level of allowables. 3. Crude oil nominations were highly related to allowables. 4. The relationship between exports of petroleum from the United States and allowables was significantly large. 5. The relationship between allowables and the Bureau of Mines forecast was high but not extremely high. 6. Using annual series, it was found that the level of crude reserves and demand for Texas crude were sig­nificantly related. 7. An analysis of the seasonal factors ill' the demand for Texas crude petroleum showed that, while the seasonal variation was not pronounced, it is changing. The share allocated to the beginning of the year is increasing, and the share allocated to the middle of the year is decreasing. It is apparent that the Railroad Commission has had adequate if not good success in setting statewide allow­ables. The lack of use of sophisticated statistical tech­niques is perhaps unfortunate but is, in some ways, justi­fiable. The factors affecting the demand seem to be dy­namic. Conventional seasonal and trend analysis would not to be profitable because of the fact that there is little seasonal variation on the one hand, and the error due to the usual trend lines seems fairly large. Another fac­tor which the Railroad Commission has had in its favor in the past was the extremely wide margin of error which was permissible because of the days of the month allow­able schedule. It will be interesting to see how the more exact percentage allowable system will work out. TEXAS BUSINESS REVIEW TEXAS RETAIL TRADE: FIRST QUARTER 1963 by Robert M. Lockwood WHETHER STIMULATED BY THE LATE EASTER, THE GEN­erally early spring, public confidence in the national and state economies, or consumer imponderables, Texas retail sales in March increased somewhat over February, push­ing the seasonally adjusted index to 117.6% of the 1957­1959 average. Total estimated retail sales for March ran to $1,036.9 million, almost precisely the same figure re­corded in March a year ago. Although its gains were not spectacular, the first quar­ter of 1963 remained ahead of the first three months of last year in both estimated total sales and average level of seasonally adjusted index. Durable, nondurable, and total estimated retail sales for January and February of this year all advanced the comparable figures for 1962. Generally speaking, March 1963 was last year's March all over again: a slight relative decline in durable spending this year was offset by a small increase in esti­mated nondurable buying, In slow but steady advance over the past quarter, retail sales in Texas have paralleled those throughout the country. When adjusted for seasonal variations, the January-to-February and the February-to-March gains were 1% and 3%, respectively, in Texas, compared to 1 % in each instance on the national level. The gain na­tionally between adjusted first-quarter sales figures for last year and those for this year was almost 8%, against a comparable increase of almost 10% in Texas. Durable goods sales during the last quarter again were more striking than nondurable figures, both in their strength and in the extent of their fluctuation. From a seasonally adjusted value of 126.2% in January, the index of durable goods sales declined almost 6% in Feb­ruary, to 118.9% of the 1957-1959 average, and increased in March to 133.8%, a gain of nearly 13% over February. Nondurables, on the other hand, representing 61 % of estimated total first-quarter sales against 63% last year, slid up about 5% on a seasonally adjusted basis, from 106.8% in January to 112.3% in February, and fell off less than 3% from February's quarterly high to the 109.2% registered in March. Throughout both Texas and the nation, several in­fluences appear to be favoring the retail merchant. Con­sidering seasonal fluctuations, national nonagricultural employment rose during each month of the first quarter. Total unemployment reached its lowest point this year in March, aggregating 5.6%, on a seasonally adjusted basis, of the civilian labor force. Although March figures are not yet available, nonfarm employment in Texas also rose during January and February. Because these figures are not adjusted for seasonal variation, the 5.8% February unemployment in Texas is misleadingly high. Unemployment character­istically increases after Christmas and during the worst of the winter. ESTIMATES OF TOTAL RETAIL SALES Percent change Mar Jan-Mar----------­1963 1963 Mar 1963 Mar 1963Jan-Mar 1963 from from from Classification (millions of dollars) Feb 1963 Mar 1962Jan-Mar 1962 TOTAL $1,036.9 $2,876.4 + 12 •• + s Durable goods* 400.3 1,113.7 + 9 -2 + 5 Nondurable goods 636.6 1,762.7 + 15 + 1 + 2 *Contains automotive stores, furniture stores, and lumber, building material, and hardware stores. **Change is less than one-half of 1%. Both total personal income and disposable income con­tinue the unbroken climb began many months ago. On a seasonally adjusted basis, personal income stood at an annual rate of $440.5 billion at the end of last year, an increase of 5.8% over the previous year and 11 % above the 1960 figure. Beginning in 1960, disposable personal income increased almost as much, by 4.1 % in 1961 and 5.3% last year. At $382.9 billion, the 1962 year-end dis­posable income was 9.6% ahead of that of two years previously. Personal savings also have increased greatly during the same period. Most of this growth came during 1961. At the end of that year the rate of personal saving, ad­justed for seasonal fluctuations, was 22.5% above that at the end of 1960. After rising another 2.3% by the end of last year, the rate of saving was more than a quarter greater than it had been two years previously. The end-1962 level, $26.2 billion, followed slight down­turns in the first, third, and fourth quarters. Although the total has fallen off slightly from the heights reached last December, outstanding consumer credit still stands at well over $60 billion, equivalent to roughly a sixth of disposable personal income. Creditors expect total credit outstanding to reach almost $70 billion by the end of the year. Much of this rush into credit buy­ing began with the unexpectedly successful movement of 1963 automobiles last fall. Reflecting this surge of dur­ables buying was the year-end spurt in instalment buy­ing, which finished the year 11% ahead of 1961. Totaling $48-plus billion on January 1, instalment credit out­standing is expected to rise to more than $50 billion by the end of the year. CREDIT RATIOS IN DEPARTMENT AND APPAREL STORES Ratio of credit sales Ratio of collections Number of to net sales• to outstandingsf Classification reporting stores Mar 1968 Mar 1962 Mar 1963 Mar 1962 ALL STORES .........46 76.0 75.7 88.0 40.8 BY CITIES Austin . 4 65.5 66.1 46.5 47.0 Cleburne 8 50.8 48.6 88.5 29.9 Dallas ... 4 83.0 83.8 37.4 89.9 Houston 4 80.7 80.0 40.2 39.9 San Antonio 3 76.6 75.6 34.9 89.6 Waco 4 59.l 57.4 36.0 89.1 BY TYPE OF STORE Department stores (over $1 million) ..18 78.S 77.9 87.6 89.6 Department stores (under $1 million). ...11 58.8 57.5 86.1 89.2 Dry goods and apparel stores ... ........ . 5 71.5 78.8 52.1 55.8 Women's specialty shops 9 72.6 72.5 88.2 41.8 Men's clothing stores.... 8 66.1 64.7 89.6 89.0 BY VOLUME OF NET SALES Sl,500,000 and over... .. . 13 78.1 77.9 88.0 40.2 $500,000 to $1,500,000. .13 65.0 64.7 89.3 42.2 $250,000 to $500,000 .... . 7 58.8 58.5 40.5 44.8 Less than $250,000.... . . 13 57.8 54.7 80.4 81.7 •Credit sales divided by net sales. tCollections during the month as a percent of accounts unpaid on the first of the month. Well over a third of the instalment debt is in auto­mobiles. Car loans have become increasingly liberal over the past couple of years. Notes running 36, 42, and even 48 months have begun to appear in some areas. Most of the pressure toward easing automobile credit apparently has come from the dealers, and the present state of the new car market is apt to increase this pressure still more. After jumping off to a big lead last fall, new car sales throughout the nation are running behind only the record pace established in 1955. An example or two will illustrate the extent to which new cars are a significant retail factor in Texas. In metropolitan Houston, where new vehicles sold fast­er than in the nation as a whole last year, the total sales were more than 30% above those of 1961, establishing a new record high almost 8% above that of 1955. About 87 out of every 100 of those vehicles were automobiles. Dallas County had the second best car buying year in i~s history in .1962, and the 1963 cars so far have kept right on movmg. March was the best single month in almost eight years. New car registrations in Dallas County for the first three months of this year were 1,050 ahead of the first quarter of 1955, the record car­buying year. That the automobile industry as a whole is optimistic is borne out by its actual production for the first and second quarters last year and the first quarter this year and its planned production for April-June of this year. The industry built almost 1.94 million cars in the first quarter of this year, compared to about 1.77 million in January-March 1962. Against actual second-quarter pro­duction of 1.86 million automobiles last year, the indus­try is undertaking now the completion of almost two million cars during the current quarter. To some extent, of course, the industry's steel-buying, and, therefore, its production, is influenced by the possibility of a steel strike in June. From what might be described as spotty optimism, at best, during the first two months of this year, retailers' opinions now, in both state and nation, appear to range from a low of cautious to a high of cheerful optimism. Strong pre-easter buying in several Texas communities made a better first quarter out of what many retailers regarded as a slow starter. Buyers are nowhere ex­hibiting evidence of being influenced by the possibility of a tax cut. If there is a significant nonpersonal factor at work on buyers, it appears to be simply confidence in the economy. POSTAL RECEIPTS Percent change City Mar2­Mar 29, 1968 Mar2­Mar 29, 1968 from Feb 1­Mar 1. 1968 Mar2­Mar 29, 1968 from Mar 8­Mar SO, 1962 Angleton . ... ........$ 7,690 -28 + 88 Athens . . . . . . . . . . 9,668 -11 + 28 Bellaire 87,469 + 7 + 26 Brownfield 10,760 •• + 22 Childress .......... . 5,612 + 4 + 7 Coleman ... 7,674 + 18 + 8 Cuero .................. . 8,901 + 72 + 68 Engle Pass ..... . .... . . 7,782 + 12 + 17 El Campo ... ... ...... . 10,705 + 8 + 16 Electra . . . 4,485 + 26 + 24 Freeport .. 16,600 -4 + 11 Gainesville 19,140 + 71 + 47 Galena Park 6,960 + 19 + 6 Gilmer 4,677 -18 •• Gonzales 6,818 + 16 + 21 Granbury 4,826 + 47 + 18 Groves .. 6,450 + 2 + 29 Hillsboro ...... .. .... . . . . 8,842 + 8 + 22 Huntsville 15,780 5 + 68 Hurst ... 8,698 + 4 + 46 Irving 59,001 + 77 + 64 Kenedy 4,859 + 8 + 6 Kermit ... 8,005 -1 + 4 Kerrville 18,542 -11 + 17 La Grange 6,066 + 6 + 7 Lake Jackson 7,161 + 86 + 60 Marlin 7,847 + 2 + 26 Navasota .. 4,648 8 + 1 Pittsburg 4.016 + 9 + 16 Port Lavaca 10,200 + 2 + 22 Richardson 86,870 + 16 + 61 Taft 2,618 7 + 9 Yoakum 11,961 7 •• ••Percent change is less than one-half of 1%. BUILDING CONSTRUCTION IN TEXAS: FIRST QUARTER 1963 by James J. Kelly TOTAL BUILDING CONSTRUCTION AUTHORIZED IN TEXAS hit a new peak in the first quarter of 1963 when the three-month average of the index reached 132.4. The index was at its highest level in the post-World War II period in this quarter because of two strong months ; in February the index was 139.5, and in March it was 137.1. These were the highest monthly levels recorded for the index of total construction authorized in the state in the last fifteen years with the single exception of August 1961. Although the index is adjusted for seasonal varia­tion, it is subject to wide erratic fluctuations, and the first quarter average takes on significance primarily be­cause authorizations in February and March were both at a high level. A strong rise in nonresidential building authorizations in Texas in the first quarter of 1963 accounted for the rise in the total authorizations in the state. The index of nonresidential building permits for the first three months averaged 155.4% of the 1957-59 base period. The index maintained unusually high levels in February and March when it stood at a seasonally adjusted 175.9 and 152.4, respectively. The activity in these two months was at the postwar high of nonresidential construction and pushed the total index into the new high levels. The index of residential construction authorizations for the first three months of 1963 in Texas maintained al­most the same level it had averaged during 1962. The first quarter average of the index was 116.3. Although this was exceeded in the last three quarters of 1962, the average of the index for the first quarter 1963 was close to the 1962 yearly average of 117.8. Normally, residential permits are authorized at the highest level in the second quarter of the year, while the authorization of nonresidential construction varies ir­regularly. In the first quarter, residential permits grad­ually increased, while nonresidential shot up to a new peak and held there for two months. The building in­dustry got off to a good start in the state in 1963 and may, if seasonal expectations are borne out, anticipate a good second quarter. The dollar estimate of total new construction author­ized for the first quarter of 1963 in Texas was $371.2 million, an improvement of 4% over the estimated total for the first three months of 1962. Additions, alterations, and repairs on housekeeping dwellings and other private buildings amounted to $45.3 million in the first quarter of 1963, an increase of 7% above the comparable 1962 period. Residential authorizations in the January-March 1963 period were up 4% over January-March 1962 to $216.7 million. Permits for the construction of one-family dwell­ings, the larger portion of the residential market, dropped 10% in this quarter below what they had been in first quarter 1962 to $154.5 million, but this drop was offset by a larger percentage rise in apartment building per­mits which rose 76% in the first quarter to $55.7 million. Authorizations to build nonresidential structures rose to $154.6 million, a 4% increase, in the first quarter over 1962's first quarter. The largest increase in the non­residential category was the addition of a permit for $19.5 million for the construction of a sports stadium in Houston. This permit brought the amusement building category to a first-quarter total of $20.9 million. Au­thorizations to build hotels, motels, and tourist courts almost doubled in the first quarter of 1963, increasing 95% to $5.9 million above the first quarter of 1962. Other important increases in the first three months of 1963 over the same period last year included a 29% in­crease in educational building authorizations to $35.1 ESTIMATED VALUE OF BUILDING AUTHORIZED Source: Bureau of Business Research in cooperation with the Bureau of the Census, U. S. Department of Commerce Percent change March Jan-Mar 1963 1963 Mar 1963 J an-Mar 1963 from from Classification (thousands of dollars) Feb 1963 Jan-Mar 1962 ALL PERMITS .. . $155,685 $416,530 + 13 + 7 New construction 136,344 371,241 + 11 + 4 Residential (housekeeping) One-family dwellings . 83,952 60,769 216,679 154,459 + 24 + 24 + • -10 Multiple-family dwellings 23,183 62,220 + 24 + 76 Nonresidential buildings 52,392 154,562 - 5 + 4 Nonhousekeeping buildings (residential) 1,184 5,956 -63 + 85 Amusement buildings 19,884 20,875 +8,434 +630 Churches 2,346 7,086 -21 -25 Industrial buildings. 5,003 14,673 +143 + 87 Garages (commercial and private) 569 1,954 -28 + 1 Service stations .. 1,426 3,150 + 50 + 3 Hospitals and institutions . . ... .. 1,801 7,779 -40 -48 Office-bank buildings . 3,034 29,073 -86 -so Works and utilities.. 307 4,348 -91 -34 Educational buildings 8,213 35,061 -25 + 29 Stores and mercantile buildings .. 6,584 19,805 + 16 -12 Other buildings and structures 2,541 5,522 + 65 - 4 Additions, alterations, and repairs .... . ... . . 19,341 45,289 + 32 + 37 METROPOLITAN vs. NONMETROPOLITANt Total metropolitan 186,987 368,150 + 12 + 12 Central cities 114,241 296,080 + 20 + 11 Outside central cities . 22,696 72,070 -15 + 16 Total nonmetropolitan 18,748 48,380 + 18 -21 10,000 to 50,000 population . . . 9,666 26,507 •• -32 Less than 10,000 population 9,082 21,873 + 46 - 1 t As defined in 1960 Census. ••Change is less than one-half of 1%. million and a 37% increase in permits for industrial buildings to $14.7 million. Permits to build in two large categories of nonresidential structures were less in this period than they had been in first quarter 1962: office­bank building permits decreased 30% to $29.1 million, and permits to build stores and mercantile buildings de­creased 12% to $19.1 million. Building gains in Texas are still being made in the metropolitan areas, while the volume of building declines in the nonmetropolitan areas. This is borne out in a comparison of first-quarter 1963 permits with those of the same period last year. The total dollar volume of authorizations in metropolitan areas amounted to $368.2 million in the first quarter of 1963, an increase of 12% over the same period last year. Authorizations in non­metropolitan areas for the first quarter were $48.4 mil­lion, a 21 % decrease from the first quarter of 1962. The total valuation of building authorized in Houston for the first quarter was $95.8 million, an increase of 8% above the first quarter of 1962. An increase of 11% in residential permits in that city for the first three months of 1963 brought total residential authorizations to $45.8 million, and this increase in residential permits was enough to offset a drop of 15%, to $35.4 million in first-quarter authorizations to build nonresidential struc­tures. Pasadena authorized 16% more permits in the first quarter of 1963 than in the first quarter of 1962. Dallas recorded increases in both residential and non­ residential permits in the first quarter compared with the first quarter of last year. Permits to build residences increased 19% to $31.3 million; nonresidential authoriza­ tions increased 56% to $26.6 million; and the total value of all construction increased 36% to $64.2 million. Cities in the Dallas area showing increases in permits for the first quarter were Richardson (35%), Garland (25%), Irving (11 % ) , and Grand Prairie (2%). Austin issued permits to build a greater valuation of buildings in the first three months of 1963 than in the same period last year. Total authorizations in Austin for the first quarter of 1963 were $26.5 million, an in­crease of 40% above the first quarter of 1962. Residential permits were up 37% to $14.0 million, and nonresidential permits were up 59% to $11.2 million. Total permits issued in Lubbock in the first quarter of 1963 amounted to $16.2 million, an increase of 54% over permits issued in the first quarter of 1962. This increase resulted from a jump in nonresidential permits of 377'10 to a total of $9.9 million for the quarter and included building permits issued to Texas Technological College: for the construction of two dormitories. Resi­dential permits issued in Lubbock for the quarter dropped to $5.2 million, a decrease of 33% when compared with the first quarter total for 1962. Fort Worth authorized a total construction of $11.7 million in the first quarter of 1963, a 6% increase over the same period in 1962. Arlington issued 25% less per­mits in the first quarter. Amarillo issued a total of $11.3 million in permits in the quarter, an increase of 10% above the first quarter last year. Those large cities showing decreases in the quarterly comparison were Galveston with a 78% drop, San An­tonio with a 2% drop, El Paso with a 30% drop, and Abilene with a 34% drop. Beaumont permits dropped 34% and Port Arthur 10%. In almost all these cities, decreases were recorded in both the residential and nonresidential categories. BUILDING AUTHORIZED IN TEXAS SELECTED CITIES Residential Dwelling units Nonresidential Total construction• January-March Percent Jan-Mar Percent January-March Percent January-March Percent 1968 1962 change 1963 1962 change 1963 1962 change 1963 1962 change Abilene ... $ 2,922,550 $ 3,892,083 -14 183 252 -27 $ 1,425,669 $ 3,312,974 -57 $ 4,481,332 $ 6,839,722 -34 Amarillo 7,311,410 6,966,505 + 5 520 484 + 7 2,918,559 1,846,900 + 60 11,272,826 10,212,713 + 10 Arlington 4,006,613 4,420,578 -9 318 207 + 54 1,989,296 3,612,964 -45 6,104,471 8,112,991 -25 Austin 13,963,156 10,216,829 + 37 1,130 844 + 34 11,171,955 7,038,181 + 59 26,508,916 18,884,255 + 40 Beaumont 1,644,221 1,847,500 -11 161 211 -24 832,661 1,980,442 -58 2,694,882 4,100,046 -34 Corpus Christi 3,236,631 2,910,100 + 11 301 321 -6 2,532,238 1,889,104 + 34 6,221,376 5,339,694 + 17 Dallas 31,344,443 26,426,314 + 19 8,737 2,552 + 46 26,554,501 16,997,172 + 56 64,194,752 47,220,159 + 36 El Paso 4,476,850 6,182,650 -28 352 489 -28 ··········· 2,806,269 4,701,369 -40 8,510,280 12,191,349 -30 Fort Worth 4,337,866 3,931,316 + 10 455 370 + 23 4,623,783 4,767,410 -3 11,713,969 11,052,162 + 6 Galveston 592,423 702,699 -16 40 62 -35 1,219,402 8,048,963 -85 2,048,078 9,385,764 -78 Garland . . . . . . . . .. 3,847,816 3,890,842 1-441 382 + 15 2,962,412 1,557,666 + 90 7,073,521 5,680,890 + 25 Grand Prairie 1,028,800 1,338,250 -23 71 124 -43 1,103,822 774,450 + 43 2,233,037 2,193,255 + 2 Houston 45,783,394 41,418,259 + 11 5,352 4,690 + 14 35,361,459 41,486,506 -15 95,827,634 89,113,039 + 8Irving 8,529,158 5,242,463 -38 867 ······ ······ 653 -44 3,703,018 1,273,342 +191 7,303,374 6,604,152 + 11 Longview 710,000 1,238,000 -43 43 74 -42 1,065,964 1,052,300 + 1 2,095,164 2,449,400 -14Lubbock 5,196,610 7,797,883 -33 364 580 -37 9,917,126 2,078,976 +377 16,202,525 10,550,506 + 54Mesquite 2,801,299 2,728,614 + 8 282 281 •• 643,548 1,079,245 -40 8,530,127 3,857,132 8Midland 2,576,000 2,573,000 •• 154 156 1-1,613,075 1,978,600 -18 4,562,060 4,872,465 -6Odessa . . . . . . . . . . . ... 786,472 1,503,700 -48 39 96 -59 1,421,951 795,285 + 79 2,381,540 2,417,562 -1Pasadena . . . . . . . . ... 2,980,000 3,286,700 -9 270 247 + 9 2,601,400 1,835,100 + 95 5,858,300 5,047,000 + 16Port Arthur 367,024 488,164 -25 36 51 -29 538,962 412,378 + 31 1,119,755 1,243,294 -10Richardson 4,667,603 3,468,453 + 35 401 257 + 56 883,938 596,860 + 48 5,628,102 4,166,411 + 35San Angelo 976,850 836,900 + 17 85 78 + 9 798,292 79,718 +901 1,895,543 1,632,404 + 16San Antonio 8,516,032 8,784,990 -3 1,143 1,158 -1 5,209,712 5,463,540 -5 15,788,369 16,106,519 -2Tyler 3,089,275 2,532,250 + 22 331 147 +125 409,075 517,240 -21 3,738,559 8,284,050 + 14Waco ············ 8,007,800 1,623,800 + 85 333 177 + 88 1,922,608 2,662,694 -28 5,519,851 4,746,846 + 16Wichita Falls 2,943,456 1,564,764 + 88 294 130 +126 l,916,092 1,390,616 + 88 5,271,483 3,843,847 + 37 •Includes additions, alterations, and repairs. ••Change is less than one-half of 1%. HELIUM IN TEXAS by Rick P. Fisher WITHIN THE NEXT FEW YEARS TEXAS WILL CONTAIN what may well be the only source of helium in the world. An unusual gas, now in demand for industrial and scien­ tific research-especially as they pertain to defense, nu­ clear energy development, and space exploration-helium is being pumped into a natural underground storage tank, the depleted natural gas field at Cliffside, near Amarillo. It is not without good reason that this area was chosen for the storage of helium gas. At present an estimated 95% of the world's recoverable helium is located within 250 miles of Amarillo. The helium industry has had a Texas character since its beginning. Helium gas remained a mere laboratory curiosity from its discovery as a component of natural gas in 1905 until the outbreak of World War I, when the Army and Navy became interested in using it as a non­flammable substitute for hydrogen in lifting airships. In 1917 construction was started on three extraction plants at the Petrolia field in Clay County, northeast of Wichita Falls. These plants were built by private companies but financed by the government; the war ended before any of the helium produced could be used, and the plants were shut down. The Navy built a plant at Fort Worth in 1921, using the Petrolia field as its gas source, and in 1925 all helium operations were placed under the super­vision of the Bureau of Mines, which promptly acquired the Cliffside field and shut down the failing operations at Fort Worth and Petrolia. The Bureau of Mines has been the Free World's only producer and distributor of com­mercial helium since that time. Helium occurs in traceable quantities in only two natu­ral sources on earth-in the atmosphere and in natural gas. Helium must constitute at least 1 % of the substance from which it is to be extracted in order for production to be commercially feasible. This characteristic of the gas eliminates the atmosphere as a possible source, for helium is but one part in two hundred thousand of air. A few scattered natural gas deposits in the south central and southwest United States remain, at present, the only usable sources of helium for commercial extraction. As­cording to a 1960 estimate by the Bureau of Mines, the total United States reserve of helium is around 154 bil­lion cubic feet, about 10% of which is available to the five government extra<'tion plants. Almost 95% of that reserve is contained within four helium-bearing natural gas fields-the Panhandle field of Texas, the Hugoton field of Kansas, Oklahoma, and Texas, the Greenwood field of Kansas, and the Keyes field of Oklahoma. Other sources are known to the Bureau of Mines-two on the public domain in Utah, specifically set aside as helium reserves, and a few small, shut-in gas fields in Arizona and Colorado, owned by private companies. No important new sources have been discovered since 1943. Generally, helium-bearing natural gas is piped from the gas fields to the government's extraction plants under contracts with various gas transmission companies. After the helium has been extracted, the remaining natural gas is sold to the transmission companies. In extracting the gas, advantage is taken of the fact that helium has the lowest liquification temperature of any known gas. The natural gas is cooled to a point below the boiling points of its other constituents, which pass out in liquid form, leaving gaseous helium with a purity of 98.2% to 99.5%. The semi-pure helium is then passed through activated charcoal at a temperature below the boiling point of nitrogen, the only remaining impurity in the gas, which is filtered out as a liquid. Grade A helium remains -99.995% pure-which is pumped directly to waiting storage or transportation tanks. It is stored in high­pressure containers as well as in the underground facility at Cliffside or shipped directly to consumers in special railway tank cars, standard compressed gas cylinders, or truck semitrailers. The Bureau of Mines operates five extraction plants, the first constructed at Amarillo in 1927, and the latest at Keyes, Oklahoma, in 1959. The others are at Exell, Texas, Navajo (Shiprock), New Mexico, and Otis, Kansas. All five plants produce Grade A helium. The government's total investment in the five plants as of 1959, without adjustment for depletion and depreciation, was more than $40 million-$27.5 million in plant and housing facilities, $7 million in shipping facilities (cylinders, tank cars, etc.), $5 million in gas rights and pipelines, and $0.5 mil­lion in service and supervisory facilities. In excess of 70% of the helium extracted is consumed by the government in atomic energy and defense research projects and nearly 20% by private companies under government con­tracts, leaving but 10% for use in private industry and research. Total production in the United States in 1960 amounted to 475,179,000 cubic feet, while production in Texas dur­ing ~he same year was 120,921,000 cubic feet. By way of comparison, total national helium production in 1950 was 81,394,000 cubic feet, all of which was produced in Texas. The conclusion to be drawn from the fact that Texas' total helium production has increased at the same time that the state's proportion of total national production has decreased drastically-from 100% to 25.4% in ten years-is that a predominantly Texas industry is rapidly becoming a regional and national one, in which Texas remains a major producer. From 1954 to 1959 demand so exceeded production that helium had to be rationed strictly to essential users, cut­ting civilian consumption to a fraction of its potential. In 1959 construction was begun on the plant at Keyes, Oklahoma, and finished in six months at a total cost of $11 million. Since production began in late 1959, the present national helium requirement has been met so adequately that nearly 273 minion cubic feet in excess of demand have been produced and stored at the Cliffside reservoir, and strict rationing was ended in 1960. Helium, which is tasteless, odorless, totally invisible, and harmless, has become indispensable to industry and research by virtue of its unique characteristics, some of ~hich are its hig~ electrical and thermal conductivity, mertness, low density, low refractive index, slow ioniza­tion, rapid diffusion, and the lowest liquefication tempera­ture of any gas. Its boiling point is only 4.2 degrees above absolute zero, and temperatures lower than 20 degrees above absolute zero cannot be obtained without the use of liquid helium as a coolant. The use of helium in liquid form has opened many fields of low temperature research. Molecular fragments in chemical reactions, usually having lives so short as to be nearly unmeasurable, can be frozen in place by liquid helium and studied with ease. Some metals become superconductors at temperatures near absolute zero, of­fering little or no resistance to the flow of electricity. From this observation came the development of the cryo­tron, which performs the function of a transistor when surrounded by liquid helium, enabling development of Table l ANNUAL HELIUM PRODUCTION, NATIONAL AND TEXAS U. S. Texas Year (thousand cubic feet) Texas percent oft.otal 1950 . . . . . . . .. .. . . · ·· ·· ·· 81,894 81,894 100.0 1951 ·· ···· ··· · ······ ···· . . . 112,009 82,690 78.8 1952 ........... ..... ...144,556 106,988 74.0 1953 ···· ··· ·· ······· ···· .. . 161,087 108,711 64.6 1954 ....... . . . . . ... 190,741 110,588 57.9 1955 ···· ····· ···· ·· ·· . 285,868 189,897 59.1 1956 .266,987 145,880 54.6 1957 ... ... ..... . . 810,865 204,286 65.6 1958 .. . . . 852,184 294,452 88.6 1959 . . . . . .. . .. . . . .... . . 875,408 288,118 68.4 1960 ....... 475,179 120,921 25.4 Source: Minerals Yearbook, U. S. Department of the Interior. very small, extremely reliable computors. Low tempera­ture amplifiers, such as the MASER (microwave ampli­fication by stimulated emission of radiation) make pos­sible the construction of extremely sensitive receivers for use in ultrahigh-frequency communications on the earth and in space, as well as increasing the sensitivity of ra­dio telescopes and radar. Helium is also used as a leak detector in the manufac­ture of beer kegs and airplane fuel tanks because of its rapid diffusion, as an inert shield for magnesium, alumi­num, and stainless steel welding, as a stable atmosphere for the crystallization of germanium used in the manu­facture of transistors, in combination with oxygen as a breathing medium for divers, mixed with flammable anesthetics to prevent operating room explosions, by the government in atomic energy and missile research, and, of course, as a gas for airships and meteorological balloons. The helium industry is not in such overall good con­dition as would appear from production, consumption, and storage figures, for while the Bureau of Mines was extracting 475 million cubic feet of the gas (1960), an estimated 4 billion cubic feet were liberated into the atmosphere and wasted by gas customers in the northern part of the United States-a loss in value of $62 million. For each cubic foot extracted, better than eight were wasted, 333 million cubic feet per month, 11 million per day. Considering the ever-increasing natural gas con­sumption by industry and homeowners, the Bureau of Mines estimates that the nation's helium supply would be used up by 1985 were no conservation measures taken. Helium waste can be curtailed only by construction of TEXAS BUSINESS REVIEW more extraction plants and storage of the resulting sur­plus, the bases of the helium conservation program en­acted by Congress in 1961. A new development has been added, however, for the new extraction plants will be built and operated by pri­vate industry, the Bureau of Mines maintaining control over storage, final purification, and distribution of the helium extracted. The program took effect in April 1961 under two pieces of legislation. The first directs the Sec­retary of the Interior to contract with private companies for the purchase of partially refined helium, the contracts to be no more than 25 years in duration, and permits the Bureau of Mines to borrow from the Treasury as much as Congress may authorize to meet the contract obligations; the second authorizes the Bureau of Mines to borrow $47.5 million per year. The plants under con­tract are to gather natural gas and extract helium at 70% purity, which is to be piped to Amarillo for further puri­ fication and sale or storage in the Cliffside field. The Secretary of the Interior has contracted with four companies for construction of five extraction plants­ the Helex Corporation, a subdivision of Northern Natural Gas Co. of Omaha, at Bushton, Kansas; Cities Service Helex, Inc., at Ulysses, Kansas; National Helium Corp., at Liberal, Kansas; and Phillips Petroleum Co. (two Texas plants) at Dumas (Moore County) and Hitchland (Hansford County). The Bushton plant has been op­ erating since last December, and the other four were on stream by April 1, 1963. A government-owned pipeline from Bushton to Amarillo is now transmitting. Lateral lines are to be tied in as each plant reaches full produc­ tion. The ultimate goal of the program is to have twelve privately operated extraction plants feeding the Amarillo plant and reservoir. An estimated $225 million will have to be borrowed from the Treasury before the program begins to pay for itself through helium sales at Table 2 HELIUM USE BY COMMERCIAL CONSUMERS, DECEMBER 1955 Percent used Percent used Purpose for each purpose on government contracts Percent used by others Welding 64.5 52.8 47.7 Leak detection 8.5 31.7 68.3 Titanium production 7.5 83.9 16.l Research .... . .. 5.1 63.2 36.8 Controlled atmospheres 5.0 22.5 77.5 Medical 2.6 100.0 Transistors . . . . . . . . ... . . . . 2.3 67.1 32.9 Zirconium production .. 1.6 100.0 Aircraft components 1.5 99.0 1.0 Advertising and toy balloons. 0.6 100.0 Lighter-than-air craft 0.6 100.0 Miscellaneous · ­······ ·· 0.2 27.1 72.9 100.0 51.8 48.2 Source: Minerals Yearbook, U. S. Department of the Interior. the recently increased price of $35 per thousand cubic feet. The Bureau of Mines proposes to conserve a total of 88 billion cubic feet of helium during the next 25 years -36 billion for sale and 52 billion for storage at Cliffside -and to cut waste to 31 billion cubic feet during the same period. One result will be lower heating bills for gas customers in the northern states; they will get more heat per cubic foot (and per dollar) with the nonflam­mable helium removed from the gas. All twelYe of the proposed extraction plants are to tie in with the Amarillo plant and storage facility by pipeline, making that area of Texas the sole depository and primary distribution center of helium for government and private use, as well as leaving Texas a major producer with two plants op­erated by the government and at least two by private concerns under contract with the government. AN ANALYSIS OF THE TEEN-AGE MARKET by Philip R. Cateora Assistant Professor of Marketing University of Southern California Los Angeles Studies in Marketing No. 7 . ............ ..... .......... . . .$2.00 This study presents an investigation of several aspects of the teen-ager as a consumer. Emphasis is given in the analysis of social forces acting on the teen-ager with respect to the family unit and the peer group. In the closely-related economic sphere the teen-ager is viewed as a consumer and consideration is given to quality, quantity, and price of products advertised to this segment of the consumer market. One primary object of the research has been to project the teen-ager in the role of the future adult consumer and in this respect analysis is made of the teen-agers' future credit and savings. ORDER YOUR COPY FROM BUREAU OF BUSINESS RESEARCH (Texas residents add 2% sales tax) LOCAL BUSINESS CONDITIONS As a readrr's guide to better utility of retail sales data, the previous year. Annual postal data are for 13 four-week an average percent change from the preceding month has periods falling closest within 1961 and 1962 calendar years. b"l'n cornputecl for each month of the year. This percent Changes less than one-half of 1 percent are marked with change is marked with n dagger (t) following that figure. a double asterisk (**). Waco retail sales information isTl1P next p(•recnt change represents the actual change from reported in cooperation with the Baylor Bureau of Businessthe preceding mnnth. A large variation in the normal sea­Research. End-of-month deposits as reported represent~* .. $ 2,974 -5 + 7 Building permits, less federal contracts $ 111,285 + 40 + 35 Annual rate of deposit turnover... . . . 11.3 + 12 -10 Bank debits (thousands) ..... ...... . . $ 11,731 + + 7 6 End-of-month deposits (thousands) i . .$ 12,021 + 3 DALLAS (pop. 679,684) Annual rate of deposit turnover... . 11.7 + 7 + 2 Employment (area) .... ... ......... . 219,300 Retail sales . ........................ + lOt + 20 + 1 + 1 •• Manufacturing employment (area). 51,645 + 2 + 2 Apparel stores ····· 1 ··············· + 26t + 34 •• Percent unemployed (area) ......... . Automotive stores . .. .. . . . . . . ... . . . + 18t 4 + 8 4.6 -13 -6 Eating and drinking places .. . ... .. + St + 7 + 6 Florists ... ............... ...... . + llt + 3 Food stores . . . . . . . . . .. . . . . . . .. . . . . + llt + 8 CLUTE (pop. 4,501) Furniture and household Postal receipts• . . . ...... .... .......$ 1,484 -25 -40 appliance stores ................ . + 6t + 80 + Building permits, less federal contracts $ 67,600 Gasoline and service stations.. . + 6t + 7 + Bank debits (thousands) ... .... ......$ 1,845 + 56 General merchandise stores... . + 12t + 63 + 13 + 14 -4 Lumber, building material,End-of-month deposits (thousands)t .. $ 1,428 -3 -17 Annual rate of deposit turnover .... 15.3 and hardware stores.... .......•. + 26t + 35 + + 17 + 8 Office, store, and school supply dealers . . . . . . . . . . . . . . + 6t 16 + ­ Postal receipts• . . . . . . . ...........$ 2,821,912 + 20COLLEGE STATION (pop. 11,396) Building permits, less federal contracts $13,809,633 -+ 62 -36 Bank debits (thousands) . ............$ 3,084,540 6 -10 Postal receipts• . $ 25,107 + 21 + 3 End-of-month deposits (thousands>* .. $ 1,279,798 + l Building permits, ·I~~ f~~~~j ~~~t~~~t~ $ 31,982 + 1 -95 -63 Annual rate of deposit turnover . . . . . 29.0 6 -10 Bank debits (thousands) .......... . .. $ 3,813 + 2 End-of-month deposits (thousands) i .. $ 3,135 + 2 + + 7 5 Employment (area) . . . . . . . . . . . . . . . . . 478,900 + 1 + 7 Manufacturing employment (area). 105,525 •• + Annual rate of deposit turnover. . ... . 14.7 •• 5 Percent unemployed (area) . 4.0 -7 + 116 Local Business Conditions Percent change Mar 196S Mar 1963 Mar from from City and item 1963 Feb 196S Mar 1962 DEER PARK (pop. 4,865) Postal receipts• ...................$ 5,641 + S6 + 22 Building permits, less federal contracts $ 112,225 -1 -87 Bank debits (thousands) . . . . . ...$ 8.021 -84 -11 End-of-month deposits (thousands) t . . $ 2,114 -5 -20 Annual rate of deposit turnover..... . 16.7 -32 + s DEL RIO (pop. 18,612) Retail sales Lumber, building material, and hardware stores............ . Postal receipts• .....................S Building permits, less federal contracts $ Bank debits (thousands) .............$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover. DENISON (pop. 22,748) Retail sales Automotive stores ................ . Postal receipts• .. .. $ Building permits, less federal contracts $ Bank debits (thousands) ........... . . $ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover..... . Nonagricultural placements .. . ..... . DENTON (pop. 26,844) Retail sales Drug stores . . . . . . . . . . . . . . . . . . . . . . . + St Postal receipts• . . . . ...............S 88,989 Building permits, less federal contracts $ 2,269,460 Bank debits (thousands) ........ .....$ 27,250 End-of-month deposits (thousands) t .. $ 25,483 Annual rate of deposit turnover. . . . . . 12.8 Nonagricultural placements . . . . . . . . . 157 DONNA (pop. 7,522) Postal receipts• ..............$ Building permits, less federal contracts S Bank debits (thousands) .............S End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover.. . .. . EDINBURG (pop. 18, 706) Postal receipts• ...........$ Building permits, less federal contracts $ Nonagricultural placements EDNA (pop. 5,038) Postal receipts• . . . . . . . . . . . .....$ Building permits, less federal contracts $ Bank debits (thousands) . .. ..........$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover.... . . ENNIS (pop. 9,347) Building permits, less federal contracts $ Bank debits (thousands) .............$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover. MAY 1963 + 11t 16,270 234,180 11,300 15,097 9.2 -9t 26,822 296,490 16,101 14,580 13.2 139 4,298 88,650 2,745 8,657 8.9 11,976 61,600 122 6,006 18,950 10,056 6,800 18.6 89,S90 6,194 7,137 10.4 + 21 -2 + 15 + 84 + 47 +225 + 5 •• + 5 + 5 + 3 -s + 18 + 32 -44 + 2 -1 + 2 + 80 + 10 + 58 +120 + 2 -s -24 + 4 -6 +469 + 24 + 25 + 27 -1 + 9 + 28 +224 + 26 + 19 + + + 13 + 85 +409 + 47 + 6 + 8 8 + 26 + 9 -19 + 5 + 22 + 11 -57 -22 + 23 + 52 + 84 -32 -44 + 20 - 6 + 26 -21 -8 + 5 -25 •• -s + 4 -22 Percent change Mar 196S Mar 1968 Mar from from City and item 1963 Feb 1963 Mar 1962 EL PASO (pop. 276,687) Retail sales .. ................ . ... .. . + 14t Apparel stores ...... ............. . + S5t Automotive stores . ............ . .. . - 9t General merchandise stores....... . . + 44t Lumber, building material, and hardware stores. . . . . . . . . . . . . + 11t Postal receipts• .. ... ...... .. ... . .. . . $ 340,261 Building permits, less federal contracts $ 3,885, 7S2 Bank debits (thousands) ....... . .....$ 882,727 End-of-month deposits (thousands) t .. $ 192,958 Annual rate of deposit turnover . . . . . . 22.7 Employment (area) . . . . . . . . . . . . . . . . . 91,700 Manufacturing employment (area) . 14,910 Percent unemployed (area) . . . . . . . . . . 6.1 FORT STOCKTON (pop. 6,373) Building permits, less federal contracts $ 49,800 Bank debits (thousands) .... . ........$ 5,694 End-of-month deposits (thousands) t .. $ 5,lSl Annual rate of deposit turnover. 18.1 FORT WORTH (pop. 356,268) Retail sales . ... .. ...... ........ . ... . + llt Apparel stores . ... ... . ..... .. .... . + 19t Automotive stores .. .............. . + llt Eating and drinking places. . ..... . + llt Furniture and household appliance stores .. . ............. . + 15t Gasoline and service stations . + St General merchandise stores.. . ... . . . + 24t Lumber, building material, and hardware stores. . . . . . . . . . . . . + 2St Postal receipts• .....................S 880,473 Building permits, less federal contracts $ 3,SOl,841 Bank debits (thousands) .............$ 784,598 End-of-month deposits (thousands) t .. $ 401,812 Annual rate of deposit turnover. . . . . . 28.8 Employment (area) . . . . . . . . . . . . . . . . . 219,SOO Manufacturing employment (area). 51,645 Percent unemployed (area) .......... 4.6 FREDERICKSBURG (pop. 4,629) Retail sales ...... . ................. . Drug stores ...................... . Food stores ... ........ ........... . General merchandise stores.. ...... . Postal receipts• ... . ............$ Building permits, less federal contracts $ Bank debits (thousands) .............$ End-of-month deposits (thousands) i .. $ Annual rate of deposit turnover... .. . GALVESTON (pop. 67,175) Retail sales ........ .. . . . ... .... . ... . Apparel stores . . .. ............... . Automotive stores ................ . Furniture and household appliance stores ............ .... . Lumber, building material, and hardware stores..... . . . .... . Postal receipts• ... ......... .........$ Building permits, less federal contracts $ Bank debits (thousands) ......... . ...$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover..... . Employment (area) ... ... .. ........ . Manufacturing employment (area) . Percent unemployed (area). + 14t + St + 12t + 44t 5,119 107,485 7,977 8,256 11.5 + 14t + S5t 9t + 9t + Ht 106,852 45S,296 90,756 61,991 17.8 53,200 10,440 7.0 + 9 + 44 -1 + 89 + 16 + 9 + 40 + 15 -9 + 15 + -14 -16 -2S -24 + 17 -16 -5 + 6 -10 -2 + s + 24 -85 + -2 s •• + s -2 + 17 + 22 + 4 + 16 + s + 7 + 28 + 13 + 3 + + 4 + 3 + 4 + 1 + 2 -18 + 4 8 + 4 + 3 + 6 + 7 -15 + 16 -40 -8 + s -10 + 2 -6 + 15 + 5 + lS + 2S -so + 19 + 9 -2 + 14 + 9 + 2 + 11 + 25 + 94 + 9 + 9 1 + 12 + 24 + 11 + 14 -2 + 11 -25 + 14 + 3 + 15 + + 1 -11 -16 -1 -so -8 -18 + 31 -90 2 -6 + 7 -4 -15 Local Business Conditions Percent change Local Business Conditions Percent change Mar 1963 Mar 1963 Mar 1963 Mar 1963 Mar from from Mar from from City and item 1963 Feb 1963 Mar 1962 City and item 1963 Feb 1963 Mar 1962 GARLAND (pop. 38,501) GREENVILLE (pop. 19,087) Retail sales . . . . . . . . . . . . . . . . . . . . . . . . • + 14t - 1 + 16 Retail sales ... .... . ................ . + 14t + 21 - 2 Automotive stores General merchandise stores. . . . . . . . . -9t + 44t -6 + 61 + 20 -10 Apparel stores .... . .............•. Drug stores ..... .. .. . ............ . + 35t + St + 19•• -9 -10 Postal receipts• ..................$ 42,431 Building permits, less federal contracts $ 1, 798,456 + 8 -15 + 18 -31 Lumber, building material. and hardware stores............ . + llt + 26 - 4 Bank debits (thousands). . . $ 29,813 + 7 -10 Postal receipts• . . . . . . . . . . . . . $ 26,024 + 80 + 4 End-of-month deposits (thousands) t . . $ 15,437 + 8 Building permits. less federal contracts $ 121,665 -17 -13 Annual rate of deposit turnover. . . . . . 24.0 + 8 + 2 Bank debits (thousands) . . . $ 14,684 2 + 4 Employment (area) . . . . . . . . . . Manufacturing employment (area) . 478,900 105,525 + •• + 7 + s End-of-month deposits (thousands) i .. $ Annual rate of deposit turnover. 18,791 12.6 -- 2 2 -11 + 18 Percent unemployed (area). 4.0 - 7 + 5 Nonagricultural placements 55 + 25 -40 GATESVILLE (pop. 4,626) HALE CENTER (pop. 2,196) Postal receipts• .. $ Bank debits (thousands) .............$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover. 6,780 5,038 5,962 10.3 + + + 4•• + 32 + 2 + 6 Postal receipts* ......... . . . ....$ Building permits, less federal contracts $ Bank debits (thousands) . . $ End-of-month deposits (thousands) t. .. $ 2,306 5,500 3,037 5,166 + 46 +2650 -17 -10 + 75 -59 + 8 -4 Annual rate of deposit turnover .... 6.7 - 6 + 10 GIDDINGS (pop. 2,821) Postal receipts• ...$ Building permits, less federal contracts $ Bank debits (thousands) . . .. $ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover.. . .. . 8,823 16,900 8,262 4,216 9.4 -15 -68 + 19 + 2 + 16 + 17 + 6 + 14 + 12 + 3 HARLINGEN (pop. 41,207) Retail sales Automotive stores Postal receipts• . . . . ....... . ......$ Building permits, less federal contracts $ + 14t -9t 34,100 237,600 + 7 + 10 + +256 •• -8 + 6 -42 Bank debits (thousands). . . $ 33,902 + 9 - 7 GLADEWATER (pop. 5,742) Postal receipts• . . . . . . . . . . . . . . . . . $ Bank debits (thousands) .............$ 6,198 3,246 + 14 + 12 •• End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover. .... . Nonagricultural placements 19,130 20.8 851 -4 + 11 + 11 -27 + 27 -48 End-of-month deposits (thousands) t .. $ 5,527 - 2 Annual rate of deposit turnover ..... Employment (area) 7.0 28,550 + 13 •• 8 1 HEMPSTEAD (pop. 1,505) Manufacturing employment Percent unemployed (area). (area) . 5,650 5.0 + -14 3 + 39 Postal receipts• ..............$ Bank debits (thousands) . . ....$ End-of-month deposits (thousands);.. $ 4,935 1,454 2,124 -18 + 14 -9 + 23 + 9•• GOLDTHWAITE (pop. 1,383) Annual rate of deposit turnover..... . 7.8 + 11 + 4 Postal receipts• .....................$ Uank debits (thousands) .............$ 2,060 4,878 + 5 + 34 + 30 + 48 HENDERSON (pop. 9,666) End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover. . . 4,749 12.8 + 8 + 29 + 50 + 2 Retail sales Apparel stores ..... .. ..... . + 35t + 26 •• Postal receipts• ........... .. ...$ 14,237 + 21 + 53 GRAHAM (pop. 8,505) Postal receipts• . . . .$ Building permits, less federal contracts $ 8,435 38,095 -17 + 2 + 20 + 55 Building permits, less federal contracts $ Bank debits (thousands) . . $ End-of-month deposits (thousands) i .. $ Annual rate of deposit turnover..... . 102,524 8,213 16,920 5.8 + 46 + 5 + -4 + 10 + 8 + 2 Bank debits (thousands) .. $ 8,795 + 2 - 8 End-of-month deposits (thousands)t .. $ Annual rate of deposit turnover. 10,418 10.3 + 3•• + 15 -3 HEREFORD (pop. 7,652) Postal receipts• . . . . . . . . . . . . . . . . .$ 9,991 - 7 + 16 GRAND PRAIRIE (pop. 30,386) Building permits, less federal contracts $ Bank debits (thousands) . . . $ 648,000 17,069 +443 + 5 +364 + 4 Post.al receipts• ... ...............$ Building permits, less federal contracts $ Bank debits (thousands)..... . . . $ 25,255 764,365 17,081 + 3 +103 5 + 2 + 47 •• End-of-month deposits (thousands) i .. $ Annual rate of deposit turnover.... 14,096 14.2 -4 + 14 + End-of-month deposits (thousands); .. $ Annual rate of deposit turnover .... . 10,930 19.2 + 5 + 1 HUMBLE (pop. 1,711) Employment (area) ........ .... .. . Manufacturing employment (area) . Percent unemployed (area) . 478,900 105,525 4.0 + •• -7 + 7 + 3 + Building permits, less federal contracts $ Bank debits (thousands) . . $ End-of-month deposits (thousands) t .. $ 10,000 2,651 3,027 9 8 + 5 -92 + 3 + Annual rate of deposit turnover.... . . 10.8 9 GRAPEVINE (pop. 2,821) Postal receipts• . . . . . . . . . . . . ....$ Building permits, less federal contracts $ Bank debits (thousands) .............$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover. 3,656 4.031 2,817 3,114 11.4 -7 + 79 + 1 + 11 -2 + 9 + 17 + 4 + 12 -3 IOWA PARK (pop. 3,295) Building permits, less federal contracts $ Bank debits (thousands) .............$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover. 28,500 3,741 3,928 11.5 -80 + 8 + 2 + -76 + 17 + 9 + 6 Percent change Local Business Conditions Mar 1963 Mar 1963 Mar from from City and item 1963 Feb 1963 Mar 1962 HOUSTON (pop. 938,219) Retail sales ....... .................• Apparel stores . . . . .............. . Automotive stores ....... . ........ . Drug stores ........ . ............. . Eating and drinking places. Food stores Furniture and household appliance stores Gasoline and service stations. General merchandise stores. Liquor stores Lumber, building material, and hardware stores. + 12t + 23t + 18t + St + 9t + 9t + 14t + lOt + 26t + 12t + sot Postal receipts• . . $ 2,034,865 Building permits, less federal contracts $58,414,642 Bank debits (thousands) .............$ 3,153,032 End-of-month deposits (thousands) t .. $ 1,490,544 Annual rate of deposit turnover. 25.4 Employment (area) . . . 547,800 Manufacturing employment (area) . 91,400 Percent unemployed (area) . 4.5 JACKSONVILLE (pop. 9,590) Postal receipts• ......$ 18,023 Building permits, less federal contracts $ 45,600 Bank debits (thousands) . .$ 11,478 End-of-month deposits (thousands) t .. $ 9,316 Annual rate of deposit turnover. 14.7 JASPER (pop. 4,889) Retail sales . Automotive stores Hay, grain and feed stores. Postal receipts• . . . . . . . . . . . . . . . $ Building permits, less federal contracts $ Bank debits (thousands) . . . $ End-of-month deposits (thousands);.. $ Annual rate of deposit turnover. KILGORE (pop. 10,092) Postal receipts• ......... . ...... . ....$ Building permits, less federal contracts $ Bank debits (thousands) . . . $ End-of-month deposits (thousands);.. $ Annual rate of deposit turnover. Employment (area) ... Manufacturing employment (area). Percent unemployed (area). KILLEEN (pop. 23,377) Postal receipts* ....$ Building permits, less federal contracts $ Bank debits (thousands) . . .....$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover . + 14t -9t 7,209 22,550 8,543 8,438 10.5 + 14 + 31 + 12 + 8 + 11 + 15 + 9 + 7 + 20 + 10 + 17 + 4 +217 + 10 + 1 + 9 + -6 2 3 7 + 5 2 3 + 4 + + 24 +136 + 6 + 7 + 7 5 4 - 1 + 17 -15 -14 + 20 1 - 1 + 7 + 18 6 + 14 ** + 37 6 -1 + 8 -23 + + 5 -15 -42 -11 -19 -12 15,511 85,200 11,113 12,720 10.6 28,550 5,650 5.0 + 2 + 93 + 7 + 3 + 6 + -14 + + 28 -14 8 5 3 + 39 34,434 -16 + 1S 779,444 + 51 + 33 13,863 + 9 + 17 9,314 + 4 + 1 18.2 + 8 + 21 Local Business Conditions Percent change Mar 1963 Mar 1963 Mar from from City and item 1063 Feb 1963 Mar 1962 KINGSVILLE (pop. 25,297) Postal receipts• ....$ Building permits, less federal contracts $ Bank debits (thousands) ... .$ End-of-month deposits (thousands);.. $ Annual rate of deposit turnover.... KIRBYVILLE (pop. 1,660) Postal receipts• .......... .. .....$ Bank debits (thousands) . . ... $ End-of-month deposits (thousandsl ; .. $ Annual rate of deposit turnover . LA FERIA (pop. 3,047) Postal receipts• ......$ Building permits, less federal contracts $ Bank debits (thousands). . ...$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover. LA MARQUE (pop. 13,969) Postal receipts* ..... $ Building permits, less federal contracts $ Bank debits (thousands) . . ...$ End-of-month deposits (thousands)t .. $ Annual rate of deposit turnover. Employment (area) Manufacturing employment (area). Percent unemployed (area) . LAMESA (pop. 12,438) Retail sales Automotive stores Drug stores .. Postal receipts• ............$ Bank debits (thousands) . . ....$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover. Nonagricultural placements LAMPASAS (pop. 5,061) Postal receipts* ........$ Building permits, less federal contracts $ Bank debits (thousands) . . . . .....$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover. LA PORTE (pop. 4,512) Bank debits (thousands) . . .. $ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover. LAREDO (pop. 60,678) Postal receipts• .. $ Building permits, less federal contracts $ Bank debits (thousands) . . ....... .$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover . Employment (area) .. .............. . Manufacturing employment (area) . Percent unemployed (area) . Nonagricultural placements . 19,084 + 33 + 38 115,120 -35 + 60 11,935 + 16 - 9 10,791 -23 -15 11.5 + 31 - 9 3,790 + 11 + 21 2,209 + 12 -12 3,331 + 9 + 30 8.3 + 8 -37 2,309 + 6 - 2 2,000 + 74 -20 1,426 13 + 1 1,342 5 2 12.4 9 + 2 10,494 + + 28 140,651 -70 + 8 8,235 •• + 2 5,859 + 8 17.0 + 2 + 12 53,200 + •• 10,440 + -4 7.0 -11 -15 - 9t + 2 + 5 + St + + 7 12,052 4 + 6 17,439 -18 •• 19,343 -7 -11 10.4 -10 + 12 55 -10 -41 JUSTIN (pop. 622) Postal receipts* . . . . . $ Bank debits (thousands). . ...$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover. 814 1,720 763 25.5 + 17 + 40 + 45 -11 + 26 + 39 + 29 -2 3,843 + 9 3,806 1 + 23 12.1 2 -10 KATY (pop. 1,569) Building permits, less federal contracts $ 28,000 + 83 -33 Bank debits (thousands) ......$ 1,958 5 + 30 End-of-month deposits (thousands) t .. $ 2,303 2 + 23 Annual rate of deposit turnover ... 10.1 2 + 5 5,587 + 4 + 20 233,097 +215 +252 7,040 + 8 + 5 6,580 + 2 13.1 + 14 + 8 37,566 -1 + 13 60,760 -58 -37 35,061 + 9 + 2 24,925 -1 + 5 16.8 + 11 18,600 •• 1,255 •• 12.5 5 274 -6 -55 Local Business Conditions Percent change Mar 1963 Mar 1963 Local Business Conditions Percent change Mar 1968 Mar 1968 Mar from from Mar from from City and item 1968 Feb 1963 Mar 1962 City and item 1968 Feb 1963 Mar 1962 LEVELLAND (pop. 10,153) LUFKIN (pop. 17,641) Postal receipts• .$ Building permits, less federal contracts $ Bank debits (thousands) . . .. $ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover . 10,198 187,735 12,524 13,822 10.6 + 2 + 25 -6 -12 + 6 + 87 + 40 -4 + 7 -12 Retail sales Automotive stores Postal receipts• . . . . $ Building permits, less federal contracts $ Bank debits (thousands) . . .. $ -9t 24,244 476,900 29,999 -8 -28 +151 + 12 -6 + 9 +299 + 2 End-of-month deposits (thousands) t .. $ 26,307 - 8 - 5 LITTLEFIELD (pop. 7,236) Annual rate of deposit turnover. Nonagricultural placements 13.5 40 + 14 -27 + 6 -70 Uctail sales Furniture and household appliance stores . .. .... . . . General merchandise stores .. Postal receipts• ...........$ Building permits, less federal contracts $ + 9t + 44t 7,586 166,900 + + 20 + 4 +140 -20 + 8 + 29 +154 McALLEN (pop. 32,728) Retail sales Automotive stores Furniture and household + 14t 9t + 12 + 16 + + 11 appliance stores + 9t 7 + LLANO (pop. 2,656) Gasoline and service stations. Postal receipts• . . . . . . . $ + llt 84,046 1 + 16 Postnl receipts• . . . . ..........$ Building permits, less federal contracts $ Bank debits (thousands) . . . . $ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover . 2,786 4,000 2,926 8,855 9.0 + 6 -61 + 13 -2 + 15 + 16 -82 -5 + 9 -18 Building permits, less federal contracts $ Bank debits (thousands) .............$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover . Nonagricultural placements 212,375 30,899 25,503 14.3 323 -47 + 2 -8 + 4 + 36 -90 1 + 4 -6 -58 LOCKHART (pop. 6,084) McCAMEY (pop. 3,375) Uetail sales Automotive stores Postal receipts• ............$ Building permits, less federal contracts $ Bank debits (thousands) . . .. $ End-of-month deposits (thousandsJi .. $ -9t 4,202 14,400 5,857 5,181 + 89 -5 -29 + 10 •• + 8 + 22 -34 + 18 -8 Postal receipts• .$ Bank debits (thousands) .............$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover . 8,035 1,751 1,754 11.7 + 8 + 4 + 10 + s + 10 -16 + 27 Annual rate of deposit turnover ..... . 13.6 + 19 + 28 McGREGOR (pop. 4,642) LONGVIEW (pop. 40,050) Retail sales Lumber, building material, Building permits, less federal contracts $ Bank debits (thousands) . . . $ End-of-month deposits (thousands)+.. $ Annual rate of deposit turnover .... . . 1,000 8,530 5,648 7.6 -67 + 15 + 4 + 15 -76 + 26 + 15 + 10 and hardware stores.......... . . . + llt + 3 -20 Postal receipts• . . . . ...... .$ Building permits, less federal contracts $ Bank debits (thousands) . . . . . .. $ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover. Employment (area) ................ . Manufacturing employment (area). Percent unemployed (area) . 57,178 1,365,564 49,870 37,785 15.8 28,550 5,650 5.0 + 8 + 182 + 6 + 1 + 6•• + -14 + 13 + 90 -11 4 6 8 + 89 McKINNEY (pop. 13,763) Postal receipts• . . . . $ Building permits, less federal contracts $ Bank debits (thousands) . . ........ $ End-of-month deposits (thousands) i ..$ Annual rate of deposit turnover. Nonagricultural placements 14,167 161,891 10,407 9,471 13.0 92 + 88 + 82 + 8 -8 + 10 + 21 + 40 + 26 + 5 •• + 2 -86 LOS FRESNOS (pop. 1,289) Postal receipts• ................ . . . .. $ Building permits, less federal contracts $ . 1,016 1,454 -18 + 7 -86 MARSHALL (pop. 23,846) Retail sales ........................ . + 14t + 21 - 7 Bank debits (thousands). . .$ End-of-month deposits (thousands) i . .$ 1,155 1,198 + 13 + + 9 + 8 Apparel stores Postal receipts• ............ . . . .. $ + 35t 28,514 + 85 + 8 -8 + 82 Annual rate of deposit turnover. 11.6 + 17 + 8 Building permits, less federal contracts $ 55,445 -84 -68 Bank debits (thousands) . . ....$ 16,770 2 LUBBOCK (pop. 128,691) End-of-month deposits (thousands) i .. $ Annual rate of deposit turnover. 21,952 9.1 -- 1 1 1 9 Rel.ail sales Apparel stores . ..... . ............ . + 14t + 35t + 2 + 40 + - 5 2 Nonagricultural placements ..... 148 + 45 8 Automotive stores . ... . ..... . . . ... . Furniture and household 9t appliance stores . . . . . . . . . . . . . . . . . + 9t General merchandise stores. . . . . . . + 44t Postal receipts• . . . . . . . . . . . . . . .$ 202,586 Building permits, less federal contracts $ 8,511,034 Bank debits (thousands) . .$ 240,007 End-of-month deposits (thousands) i .. $ 129,996 Annual rate of deposit turnover. 21.8 Employm nt (area) ... Manufacturing employment (area) . Percent unemployed (area) . 54,200 6,030 4.0 4 2 + 26 -7 + 53 + 1 3 + 6 + 1 + 2 -13 + 10 4 3 + 18 -19 + 3•• + 8 + 6 + 6 -17 MESQUITE (pop. 27,526) Retail sales Eating and drinking places . Postal receipts• . $ Building permits, less federal contracts $ Bank debits (thousands) . .$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover . Employment (area) Manufacturing employment (area) . Percent unemployed (area) . + lOt 15,462 715,431 6,689 5,720 18.9 478,900 105,525 4.0 + 41 + 12 -58 + + 2 •• -7 + 11 + 56 8 + 8 s + + + + Local Business Conditions Percent change Mar 1963 Mar 1963 Mar from from City and item 1963 Feb 1963 Mar 1962 MERCEDES (pop. 10,940) Postal receipts* .$ 6,510 Building permits, less federal contracts $ 30,295 Bank debits (thousands) ..........$ 6,363 End-of-month deposits (thousands) t .. $ 3,725 Annual rate of deposit turnover.. 20.7 MEXIA (pop. 6,121) Postal receipts* . . . . . . . . . . . . . . . ... .$ 6,425 Building permits, less federal contracts $ 10,000 Bank debits (thousands) . . . . .... . .. .. $ 3,789 End-of-month deposits (thousands) t .. $ 4,741 Annual rate of deposit turnover. 9.6 MIDLAND (pop. 62,625) Retail sales Drug stores + at Postal receipts . . . . . . . . . . .S 98,064 Building permits, less federal contracts $ 1,996,610 Bank debits (thousands) . . . . . $ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover. Employment (area) . . . . . . . . . . . . . . . . . Manufacturing employment (area) . Percent unemployed (area) . Nonagricultural placements MIDLOTHIAN (pop. 1,521) Building permits, less federal contracts $ Bnnk debits (thousands) . .. . ..... . .. .$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover . MINERAL WELLS (pop. 11,053) Postal receipts* . . . . . . . . . . . .$ Building permits, less federal contracts $ Bank debits (thousands) . .$ End-of-month deposits (thousands)t. . $ Annual rate of deposit turnover. Nonagricultural placements ... MISSION (pop. 14,081) Postal receipts• .$ Building permits, less federal contracts $ Bank debits (thousands) .............$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover . MONAHANS (pop. 8,567) Postal receipts* .$ Building permits, less federal contracts $ Bank debits (thousands) . . . . $ End-of-month deposits (thousands)t.. $ Annual rate of deposit turnover . MUENSTER (pop. 1,190) Postal receipts• . . . . . . ......S Building permits, less federal contracts $ Bank debits (thousands). . . .. $ End-of-month deposits (thousands)t.. $ Annual rate of deposit turnover . 135,475 101,378 16.2 67,800 4,160 4.0 613 24,197 1,134 1,801 8.0 13,875 110,650 12,049 12,010 10.8 84 9,336 41,205 10,828 8,727 14.9 8,954 65,330 9,780 7,402 15.5 1,437 1,000 2,145 2,170 12.0 NACOGDOCHES (pop. 12,674) Retail sales Apparel stores ........ . ... . Postal receipts• ....$ Building permits, less federal contracts $ Bank debits (thousands) ... . ..... . . .. $ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover. Nonagricultural placements . + 35t 15,808 131,202 20,947 18,377 13.9 111 5 + 4 + 25 + 8 -86 -11 + 11 + 6 + 2 - 8 + 12 + 16 -12 -69 -10 -5 + 1 + 10 -10 -13 + 1 -3 + 35 + 13 + 2 + 12 + 1 -13 + 4 -11 + 2 -80 + 12 + 2 + 10 + 6 + 60 9 + 8 +142 + 13 •• + 13 + 20 + 7 -11 -18 -5 -29 +176 -1 + 20 -19 + 17 + 8 8 + 9 -8 -1 + 29 + 19 -33 + 8 + 4 •• + 6 + 12 + 1 -15 -1 +196 -52 •• -3 5 -17 + 5 + 16 + 8 + 13 -87 + 8 + 2 + 3 + 17 + 8 -14 Local Business Conditions Percent change Mar 1963 Mar 1963 Mar from from City and item 1963 Feb 1963 Mar 1962 NEDERLAND (pop. 12,036) Building permits, less federal contracts $ 192,163 + 22 -14 Bank debits (thousands) . . ...$ 4,946 1 3 End-of-month deposits (thousands) t .. $ 4,098 + 3 + 2 Annual rate of deposit turnover . 14.7 3 NEW BRAUNFELS (pop. 15,631) Retail sales Automotive stores Postal receipts• . . . .$ Building permits, less federal contracts S Bank debits (thousands) .... . ........$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover . -9t + 42 + 37 19,726 9 + 201,983 + 9 + 15 13,127 + 5 + 6 12,399 + 2 + 2 12.8 + 6 + NORTH RICHLAND HILLS (pop. 8,662) Building permits, less federal contracts $ 252,940 + 21 -14 Bank debits (thousands) .. ... . ... . ...$ 2,439 + 13 End-of-month deposits (thousands) t .. $ 1,491 + 11 Annual rate of deposit turnover . 20.6 + 6 ODESSA (pop. 80,338) Retail sales .. . ....... .. ..... . .... . . . Furniture and household appliance stores General merchandise stores . Postal receipts• . . . . . . . . . . . . $ Building permits, less federal contracts $ Bank debits (thousands) . . . .. $ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover . Employment (area) Manufacturing employment (area) . P ercent unemployed (area) . Nonagricultural placements ORANGE (pop. 25,605) Retail sales Automotive stores . . Postal receipts• . .... .$ Building permits, less federal contracts $ Bank debits (thousands) .. .. .... . . . .. $ End-of-month deposits (thousands) t. $ Annual rate of deposit turnover . .... . Employment (area) ..... .... ...... . Manufacturing employment (area) . Percent unemployed (area) Nonagricultural placements PALESTINE (pop. 13,974) Postal receipts• ...... . ... .. $ Building permits, less federal contracts $ Bank debits (thousands) . .$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover . PAMPA (pop. 24,664) Retail sales Automotive stores Eating and drinking places.. . Food stores ......... . . . ... . Lumber, building material, and hardware stores. ... . Postal receipts• . . . . ....... . . .. $ Building permits, less federal contracts $ Bank debits (thousands) . . . .. $ End-of-month deposits (thousands)t.. $ Annual rate of deposit turnover. Nonagricultural placements + 14t + 9t + 44t 95,822 699,525 75,014 73,839 12.4 57,800 4,160 4.0 512 + 16 -5 + 31 + 25 -13 + + 4 + 13 + + 42 -13 -7 -16 -15 + 34 + 27 -4 + 8 + 5 -11 + 50 -9 -9t 27,436 70,323 27,268 25,198 13.1 106,300 34,880 7.6 154 + 16 + 22 -41 + 11 + 2 + 11 + + 2 8 + 54 -12 + 15 -43 -3 + 11 -11 -1 + 1 + 19 -4 12,663 - 5 - 3 108,632 -51 + 27 10,639 + 6 - 6 15,880 - 2 + 9 8.0 + 10 -12 + 14t + 40 7 9t + 68 6 + lOt + 10 8 + 12t + 11 -12 + llt + 59 + 7 29,011 + 12 + 23 122,293 +168 +133 24,806 2 -14 23,143 - 7 + 14 12.4 + 6 -25 101 - 12 -24 + 35 + 91 + 33 -6 + 3 + 86 + 10 + 8 + 10 +207 + 26 + 16 + 9 + 7 Local Business Conditions Percent change Mar 1963 Mar 1963 Mar from from City and item 1963 Feb 1963 Mar 1962 PARIS (pop. 20,977) Retail sales Apparel stores Automotive stores Lumber, building material, and hardware stores . . Postal receipts• .....$ Building permits, less federal contracts $ Bank debits (thousands) . . ........$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover. Nonagricultural placements + l4t + 35t -9t + llt 22,349 117,216 17,855 15,047 13.8 86 PASADENA (pop. 58,737) Retail sales . .. .. . . .. .. . + 14t Automotive stores - 9t Postal receipts• .. $ 43,116 Building permits, less federal contracts $ 1,100,700 Bank debits (thousands) . . ....$ 46,948 End-of-month deposits (thousands) t .. $ 27,334 Annual rate of deposit turnover. 20.6 + 13 ** PECOS (pop.12,728) Postal receipts* ........ $ 10,674 -19 -8 Building permits, less federal contracts $ 43,960 + 80 -17 Nonagricultural placements 75 + 17 + 6 PHARR (pop. 14,106) Postal receipts• .. $ 6.595 -9 + 30 13uilding permits, less federal contracts $ 42,890 -13 + 60 13ank debits (thousands). . .$ 4,458 + + 10 End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover . .... . 4,523 12.4 + 10 + 10 + 14 •• PILOT POINT (pop. 1,254) Bank debits (thousands) . . . $ End-of-month deposits (thousands) t .. $ 1,294 1,749 + 32•• + 44 + 15 Annual rate of deposit turnover .. . . . . 8.9 + 33 + 25 PLAINVIEW (pop. 18, 735) Retail sales Automotive stores -9t + 16 + 55 Postal receipts* .... . . . . $ 25,921 + 2 + 22 Building permits, less federal contracts $ 154, 750 + 43 -74 Bank debits (thousands) . .$ 34.598 -11 -8 End-of-month deposits (thousands) t .. $ 29,643 -4 + 5 Annual rate of deposit turnover. 13.7 -6 -10 Nonagricultural placements 250 + 15 + 16 PLANO (pop. 3,695) Postal receipts* . . . . . . .$ 4,270 -22 + 53 Building permits, less federal contracts $ 219,579 -68 + 7 Bank debits (thousands) ............$ 2,628 + 59 + 19 End-of-month deposits (thousands) t .. $ 2,343 + 4 + 21 Annual rate of deposit turnover. 13.7 + 57 + PORT ISABEL (pop. 3,575) Postal receipts* .....................$ 2,784 -8 + 11 Building permits, less federal contracts $ 3,000 -37 -43 Bank debits (thousands) . . . $ l,224 + 14 -27 End-of-month deposits (thousands) t .. $ 1.229 + 17 + 22 Annual rate of deposit turnover. 12.9 + 5 -31 + 17 + 24 PORT NECHES (pop. 8,696) Postal receipts• .....................$ 8,305 Building permits, less federal contracts $ 158,280 Bank debits (thousands) .............$ 8,556 End-of-month deposits (thousands) t .. $ 5,877 Annual rate of deposit turnover. 16.7 + 29 + 2 + 2 + 31 -62 -21 + 10 + 3 + 89 + 34 + 83 + 28 + 11 + 11 -8 -4 + 20 + 14 + 21 -3 Local Business Conditions Percent change Mar 1963 Mar 1963 Mar from from City and item 1963 Feb 1963 Mar 1962 PORT ARTHUR (pop. 66,676) Retail sales + 14t + 8 Apparel stores + 35t + 21 Automotive stores -9t + 3 Food stores + 12t + 9 Furniture and household appliance stores + 9t + 13 -22 Gasoline and service stations . . + llt + 4 -19 Postal receipts* ...... . ..............$ 47,823 3 -1 Building pe1mits, less federal contracts $ 343,833 + 22 -49 Bank debits (thousands) .............$ 63,269 + 7 -10 End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover. 40,970 18.4 -2 + 11 -11 •• Employment (area) 106,300 + -1 Manufacturing employment (area) . 34,880 + 2 + 1 P ercent unemployed (area) . 7.6 8 + 19 +107 + 9 -16 + 11 + 13 -6 -23 + 14 + 14 + 16 + 97 + 13 + 4 + 12 -10 -29 -22 RAYMONDVILLE (pop. 9,385) Postal receipts* .................... . $ 5,430 Building permits, less federal contracts $ 21,100 Bank debits (thousands) .............$ 5,525 End-of-month deposits (thousands) t .. $ 7,651 Annual rate of deposit turnover. 8.5 Nonagricultural placements 38 ROBSTOWN (pop. 10,266) Postal receipts• .$ 8,928 Building permits, less federal contracts $ 35,240 Bank debits (thousands) . .$ 9,074 End-of-month deposits (thousands) i . .$ 8,847 Annual rate of deposit turnover. 12.0 ROCKDALE (pop. 4,481) Postal receipts* . . ....... ....$ 4,860 Building permits, less federal contracts $ 22,300 Bank debits (thousands) .............$ 4,350 End-of-month deposits (thousands) t .. $ 5,980 Annual rate of deposit turnover. 9.0 SAN ANGELO (pop. 58,815) Retail sales Automotive stores General merchandise stores . Jewelry stores Postal receipts* .................$ Building permits, less federal contracts $ Bank debits (thousands) . . . ....$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover. Employment (area) ................ . Manufacturing employment (area) . P ercent unemployed (area) . .. SAN JUAN (pop. 4,371) Postal receipts* .. $ Building permits, less federal contracts $ Bank debits (thousands) .............$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover. + 14t -9t + 44t 83,709 588,039 50,528 47,008 13.1 19,850 3,170 5.0 2,610 6,950 1,827 2,043 10.5 SAN MARCOS (pop. 12,713) Postal receipts* . . . . . . . . . . . . .$ 11,925 Building permits, less federal contracts $ 113,663 Bank debits (thousands) ......... . . . . $ 7,741 End-of-month deposits (thousands) t .. $ 8,934 Annual rate of deposit turnover. 10.1 SAN SABA (pop. 2,728) Postal receipts• . $ Building permits, less federal contracts $ Bank debits (thousands) .............$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover. 2,620 19,250 4,067 4,423 10.9 + 15 -5 -34 + 11 -69 + 36 + 12 - 4 + + 2 + -56 -73 - 2 + 5 + 36 -94 + 12 6 - 5 9 + 17 2 +1552 -34 + 20 + 5 + + 3 + 20 + 3 + 13 -3 -13 -13 + 37 + 9 -8 + 12 -2 + 18 + 40 + 80 2 7 + 2 4 2 + 1 + + 3 + -17 -17 + 12 -48 -59 + 7 + + + + + 79 + 25 + 16 + 2 + 6 5 + 10 + 2 - 6 -21 - 7 + 20 + 13 - 2 - 1 + 27 + 15 Local Business Conditions Percent change Mar 1963 Mar 1963 Local Business Conditions P ercent change Mar 1963 Mar 1963 Mar from from Mar from from City and item 1963 Feb 1963 Mar 1962 City and item 1963 Feb 1963 dar 1962 SAN ANTONIO (pop. 587,718) Retail sales . . . . . . . . . . . . . . . . . . . . . . . . . + 17t Apparel stores . . . . . . . . . . . . . . . . . . . . + 27t Automotive stores . . . . . . . . . . . . + 15t Drug stores + 1t Eating and drinking places. . . + 9t Food stores . . . . . . . . . + 7t + 14 + 36 + 7 + + 12 + 11 -+ + 3 •• 4 5 9 SLATON (pop. 6,568) Postal receipts• .....................$ Building permits, less federal contracts $ Bank debits (thousands) . . . . . . ...$ End-of-month deposits (thousands); $ Annual rate of deposit turnover . . . Employment (area) . ... .... . ...... . 4,011 11,555 4,110 4,816 9.9 54,200 -4 -62 -9 -7 •• + l + 39 -86 2 + 8 6 + 6 Furniture and household appliance stores . .... . . . ... . Gasoline and service stations. + llt + 12t + + 20 4 9 llfanufacturing employment (area) . Percent unemployed (area) ... 6,030 4.0 + 2 -13 + 6 -17 General merchandise stores . Jewelry stores .. .. . . . Lumber, building material, and hardware stores...... ... •.. . Nurseries .. .. ..... .... .... . Stationery stores ......... . ....... . Postal receipts• .... ... .. .. ..........$ + 40t + 26t 851,869 + 22 -4 + 34 + 78 -12 + 3 + 3 -11 -9 + 35 + 3 + 15 SNYDER (pop. 13,850) Postal receipts ... . ..$ Building permits, less federal contracts $ Bank debits (thousands) ............ $ End-of-month deposits (thousands);..$ Annual rate of deposit turnover ..... 14,395 87,749 14,551 17,821 9.6 + 26 +155 + 20 -5 + 25 + 2 46 + 4 + 1 + Building permits, less federal contracts $ 5,703,921 Bank debits (thousands) .............$ 710,190 End-of-month deposits (thousands) t .. $ 416,579 Annual rate of deposit turnover . . . . . . 20.6 Employment (area) 209,400 Manufacturing employment (area) . 25,100 + 33 + + + 7•• + 7 + 2 + + l + 3 SOUTH HOUSTON (pop. 7,253) Building permits, less federal contracts $ Bank debits (thousands) .............$ End-of-month deposits (thousands) f $ Annual rate of deposit turnover..... . 108,947 4,739 4,033 14.5 -34 + 7 + 5 2 -77 + 16 + 22 -5 Percent unemployed (area) . 5.5 - 5 + 12 SULPHUR SPRINGS (pop. 9,160) SEAGOVILLE (pop. 3,745) Postal receipts* . . . . . . ..........$ Building permits, less federal contracts $ 3,853 36,305 + 15 -56 + 70 +505 Postal receipts• . . . ...$ 13,549 BuHding permits, less federal contracts $ 279,559 Bank debits (thousands) .............$ 12,331 + 2 -r239 + 23 + 86 +208 + 10 Bank debits (thousands) . $ 2,370 + 11 + 27 End-of-month deposits (thousands);. . $ 12, 730 + 2 End-of-month deposits (thousands);.. $ l ,554 + 8 + 15 Annual rate of deposit turnover...... 11.7 + 23 + 14 Annual rate of deposit turnover.. .. . . SEGUIN (pop. 14,299) Postal receipts• . . . . . . . . . . . . . . $ Building permits, less federal contracts $ Bank debits (thousands). . $ 19.0 12,063 86,335 11,018 + + 9 + 28 + 11 + 9 + 5 + 37 + 3 SWEETWATER (pop. 13,914) Postal receipts• ..... . . . ..........$ Building permits, less federal contracts $ Bank debits (thousands) ......... ... . $ End-of-month deposits (thousands) l .. $ 13,672 181,440 11,123 10,256 + 13 +1244 4 -2 + 11 +253 + 1 -l End-of-month deposits (thousands) t .$ 15,034 + 3 + 7 Annual rate of deposit turnover..... . 12.9 - 2 + 2 Annual rate of deposit turnover..... . 8.9 + 11 2 Nonagricultural placements .... . 84 + 14 -24 SHERMAN (pop. 24,988) Retail sales ... Apparel stores ..... Automotive stores .. ..............• Furniture and household appliance stores .... . ........... . General merchandise stores. Lumber, building material, and hardware stores.. .. . Postal receipts• .............. . . $ + 14t + 35t 9t + 9t + 44t + llt 34,525 + 12 + 46 + 6 + 3 + 22 + 41 •• -13 + 10 -23 -12 + 26 TAYLOR (pop. 9,434) Retail sales Automotive stores ................ . Postal receipts• .......... . ........ . . $ Building permits, less federal contracts $ Bank debits (thousands). . .......$ End-of-month deposits (thousands);..$ Annual rate of deposit turnover..... . Nonagricultural placements -9t 8,904 33,925 7,265 13,888 6.3 39 -4 + 17 -13 •• •• + 5 +290 -27 + 13 2 + 9 9 -46 Building permits, less federal contracts $ Bank debits (thousands) ......... .. ..$ End-of-month deposits (thousands) ; ..$ Annual rate of deposit turnover.... . . Nonagricultural placements 270,147 29,598 19,305 18.4 139 -67 + 13 •• + 16 -15 -77 + 6 + 4 + 3 + 9 TEMPLE (pop. 30,419) Retail sales ...................... .. . Apparel stores ................... . Furniture and household appliance stores ........... . + 14t + 35t + 9t + 15 + 35 -2 + + 5 + 3 SILSBEE (pop. 6,277) Postal receipts• .. . .... ... .. $ Building permits, less federal contracts $ Bank debits (thousands) ........... . . $ End-of-month deposits (thousands)t.. $ Annual rate of deposit turnover. .... . 8,074 51,425 4,275 5,652 9.1 •• + 73 + 3•• + 1 + 17 + 7 + 4 + Lumber, building material, and hardware stores...... . . . ... . Postal receipts* .....................$ Building permits, less federal contracts $ Bank debits (thousands) .............$ Nonagricultural placements ........ . + llt 40,798 555,270 29,276 165 + 11 -5 + 35 + 13 + 2 -11 + 6 + 9 -20 SINTON (pop. 6,008) Postal receipts• . . ...$ Building permits, less federal contracts $ Bank debits (thousands). . ......$ End-of-month deposits (thousands); $ Annual rate of deposit turnover.... . . 5,341 96,525 3,753 4,853 9.0 + 2 +173 4 7 + -8 + 45 -18 + 4 -22 TERRELL (pop. 13,803) Postal receipts• . . . .... .... $ Building permits, less federal contracts $ Bank debits (thousands) .............$ End-of-month deposits (thousands) f $ Annual rate of deposit turnover ..... Nonagricultural placements . . . . .. 8,635 110,800 8,347 8,377 11.9 43 + 18 +291 + 5 -l + 6 + 43 + 29 +223 + 20 + 11 -'­3 -33 SMITHVILLE Postal receipts• . . . (pop. 2,933) $ 2,345 + 8 + 15 TOI\IBALL (pop. 1,713) Building permits, less federal contracts $ 30,500 -53 Building permits, less federal contracts $ 1 ,000 -35 Bank debits (thousands)...... . ...$ End-of-month deposits (thousands) i ..$ 1,325 2,319 + 21 •• + 8 l Bank debits (thousands) .............$ End-of-month deposits (thousands) l $ 6,805 6,255 2 l l + l Annual rate of deposit turnover..... . 6.8 + 21 + 8 Annual rate of deposit turnover.. 13.0 2 9 Local Business Conditions Percent change Mar 1963 Mar 1963 Mar from from City and item 1963 Feb 1963 Mar 1962 TEXARKANA, TEX. (pop. 30,218) Retail sales Furniture and household appliance stores Postal receipts•§ Building permits, less federal contracts§ Bank debits (thousands) + 9t ... $ 64,494 .$ 456,992 .. $ 58,415 End-of-month deposits (thousands) t§. $ 18,862 Annual rate of deposit turnover§. 18.5 Employment (area) ... 31,650 Manufacturing employment (area) . 6,520 Percent unemployed (area) . 6.2 + 15 + 7 + 166 + 16 + 2 + 7 -14 + 4 + 26 + 248 + 6 + 8 + 11 + 6 + 42 -16 Local Business Conditions Percent change Mar 1968 Mar 1963 Mar from from City and item 1963 Feb 1963 Mar 1962 WACO (pop. 103,462r) Retail sales + 14t + 18 + Apparel stores + 85t + 12 + Automotive stores -9t + 6 + General merchandise stores. + 44t + 29 + Lumber, building material, and hardware stores .. + llt 2 -18 Postal receipts• .... . ... .. .. .. . . ....$ 184,249 5 + 22 Building permits, less federal contracts $ 861,685 8 -73 Bank debits (thousands) . . .. . .. .$ 125,272 + 7 6 End-of-month deposits (thousands) t .. $ 71,459 + 1 Annual rate of deposit turnover.... . . Employment (area) .. . . .. . .. . ..... . Manufacturing employment (area) . 20.5 50,700 10,250 + 10•••• 7 + 5 + 1 P ercent unemployed (area) . 5.1 -16 + 2 + 72 + 7 + 19 + TEXAS CITY (pop. 32,065) Postal receipts* ........... .$ Building permits, less federal contracts $ Bank debits (thousands) . . . $ End-of-month deposits (thousands) t ..$ Annual rate of deposit turnover. Employment (area) Manufacturing employment (area) . Percent unemployed (area) . 22,858 955,650 22,040 14,196 18.4 63,200 10,440 7.0 -17 + 232 2 2 + + -11 + 2 -8 -15 + 6•• -4 -15 TYLER (pop. 51,230) Relail sales Apparel stores Automotive stores Postal receipts ......................$ Building permits, less federal contracts $ Bank debits (thousands) .....$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover ..... . Employment (area) ........... . Manufacturing employment (area) . Percent unemployed (area) . Nonagricultural placements .... . ... . + 14t + 35t -9t 114,033 841,546 99,112 69,195 17.8 31,350 7,490 4.7 752 + 8 + 30 + 3 + 5 -1 + 12 + 6 + 9 + + 4 -10 + 12 -4 + 6 -12 + 13 -40 + 5 + 8 -1 -24 UVALDE (pop. 10,293) Postal receipts• .. . ..... . ........ ...$ Building permits, less federal contracts $ Bank debits (thousands). . .....$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover. 8,291 210,951 11,239 8,865 15.3 -6 +385 -10 + 1 -6 + 19 + 70 + 18 + 4 + 12 VERNON (pop. 12,141) Retail sales Automotive stores .. . Postal receipts• ...... . .............$ Building permits, less federal contracts $ Bank debits (thousands) ........... . . $ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover. Nonagricultural placements .. . . -9t 8,181 84,675 13,719 18,961 8.6 38 + 16 -29 3 -2 -2 •• -8 -49 -80 -27 -12 -1 -10 -87 VICTORIA (pop. 33,047) Retail sales Apparel stores Automotive stores ...... . . .. ... . . , . Food stores ............... .... . . . . Lumber, building material, and hardware stores. . ...... . .. . Postal receipts• ........ . ...........$ Building permits, less federal contracts $ Bank debits (thousands) . . .....$ End-of-month deposits (thousandsH . . $ Annual rate of deposit turnover. Nonagricultural placements + 14t + 35t -9t + 12t + llt 38,807 844,665 64,226 78,488 9.8 448 -1 + 26 -10 + 4 + 8 7 +149 + 8•• + 8 + 20 -10 + 6 -11 -8 -80 + 12 +109 -13 -2 -12 -25 WEATHERFORD (pop. 9,759) Postal receipts• .... . . . ..... . .......$ 10,936 -4 + 15 Building permits, less federal contracts $ 34,000 -24 -46 End-of-month deposits (thousands)i. . $ 13,677 -1 -7 TEXAS BUSINESS REVIEW Retail sales . . . . . . . . . . . . . . . . . . . . . . . . . Apparel stores . . . . . . . . . . . . . . • . . . . . Automotive stores . . . . . . . . . . . . Drug stores . . . . . . . . . . . . . . . . . . . . . . Eating and drinking places. Food stores Furniture and household appliance stores ...... . Gasoline and service stations. General merchandise stores. Jewelry stores .. ................. . Lumber, building material, and hardware stores .. ........ . Office, store, and school supply dealers ..... ... . . .. . Postal receipts• . ... . . . ... . ... . . Building permits, less federal contracts Bank debits (thousands) .... ........ . End-of-month deposits (thousands) t. Annual rate of deposit turnover. WAXAHACHIE (pop. 12,749) Postal receipts• .. .... ......... .....S 30,730 Building permits, less federal contracts $ 32,080 Bank debits (thousands) .. $ 9,913 End-of-month deposits (thousands) t .. $ 10,321 Annual rate of deposit turnover . 11.9 Nonagricultural placements ... . . . . . . 78 WICHITA FALLS (pop. 101,724) Retail sales ............... ....... .. . + 14t Apparel stores .......... .... . + 35t Automotive stores ....... ......... . -9t Eat ing and drinking places. + lOt Furniture and household appliance stores .. ...... . + 9t General merchandise stores. + 44t Lumber, building material, and hardware stores. . . . . . . . . . . . + 11t Postal receipts ......... .......... ...$ 124,146 Building permits, less federal contracts $ 1,261,808 Bank debits (thousands) . . ...$ 116,997 End-of-month deposits (thousands) t .. $ 98,544 Annual rate of deposit turnover. . . . . 14.2 Employment (area) . . . . . . . . . . . 45,050 Manufacturing employment (area) . 3,940 Percent unemployed (area) . 4.8 -82 -85 + 11 5 + 7 + 3 + 8 -9 + 21 -s + 28 + 9 + 21 •• -26 WESLACO (pop. 15,649) Postal receipts• .. .. . . ... . . .. .. . . ...$ 10,014 - 1 + 9 Building permits, less federal contracts $ Bank debits (thousands) . . . .. ... .$ End-of-month deposits (thousands) t .. $ 64,047 7,612 7,323 - 80 2 3 -46 •••• Annual rate of deposit turnover . 12.3 1 + •• -7 + 19 -1' + 28 -8 + 41 -18 •• + 2 + 16 + 8 -2 + + 4 -10 •• + 1 + + 1 -11 + 2 LOWER RIO GRANDE VALLEY (pop. 352,086) (Cameron, Willacy, and Hidalgo Counties) + 14t + 12 + 8 + 35t + 24 + 10 -9t + 16 + + St + 7 + + lOt + 2 + 12t + + + 9t -24 + + llt + 1 + 44t + 24 •• -6 + llt + 17 + + 8 + 17 8 + 15 -16 -66 + 8 + 2 4 s 15.9 + 5 + 8 BAROMETERS OF TEXAS BUSINESS All figures are for Texas unless otherwise indicated. All indexes are based on the average months for 1957-59, except where indi· cated; all are adjusted for seasonal variation, except annual indexes. Employment estimates are Texas Employment Commission data in cooperation with the Bureau of Labor Statistics of the U. S. Department of Labor. The index of Texas business activity is based on bank debits in 20 cities, adjusted for price level. An asterisk (•) indicates preliminary data subject to revision. Revised data are marked (r) . Mar Feb Mar Year-to-date average 1963 1963 1962 1963 1962 GENERAL BUSINESS ACTIVITY Texas business activity, index ...................................... Miscellaneous freight carloadings in SW District, index . .. .... ....... Ordinary life insurance sales, index ................................ Wholesale prices in U. S., unadjusted index .............. ......... . Consumers' prices in U. S., unadjusted index ....................... Income payments to individuals in U. S. (billions, at seasonally ad­ justed annual rate) ....... .... ..... . .................... .... .. . Business failures (number)_........................................ Newspaper linage, index ........................................... TRADE Total retail sales, index, 1957-59=100 . . .......................... . . Durable-goods sales, index, 1957-59=100 ........................ Nondurable-goods sales, index, 1957-59=100 ................. .. . Ratio of credit sales to net sales in department and apparel stores.... Ratio of collections to outstandings in department and apparel stores. PRODUCTION Total electric power consumption, index ... .... .. ......... ........ .. Industrial electric power consumption, index ....................... Crude oil production, index . . ..................................... Crude oil runs to stills, index ...... ............................... Industrial production in U. S., index .. . .. . ................ . . . ..... Texas industrial production-total index ............................ Texas industrial production-manufacturing index . ...... .. ... ... . ... Texas industrial production-durable goods, index ................... Texas industrial production-nondurable goods, index ................ Texas mineral production, index................................... Average daily production per oil well ....... ..... .... ........ ... ... Construction authorized, index, 1957-59=100 ................. ....... Residential building, 1957-59=100 . ................... ... ...... . Nonresidential building, 1957-59=100 ........................... AGRICULTURE Prices received by farmers, unadjusted index, 1910-14=100 ..... ..... Prices paid by farmers in U. S., unadjusted index, 1910-14=100 ...... Ratio of Texas farm prices received to U. S. prices paid by farmers .. FINANCE Bank debits, index .. . .................................... ......... Bank debits, U. S., index ................ .......................... Reporting member banks, Dallas Reserve District: Loans (millions) . . ..................................... Loans and investments (millions) ................... . ... . ... ... Adjusted demand deposits ( millions) .. ......................... Revenue receipts of the State Comptroller (thousands) .............. Federal internal revenue receipts (thousands) ...... ............... . . LABOR Total nonagricultural employment (thousands) . .. .. .... . ....... ... Total manufacturing employment (thousands) .................. Durable-goods employment (thousands) ........... ... . .. ... Nondurable-goods employment (thousands) ................ Total nonagricultural labor force in 18 labor market areas (thousands) Employment in 18 labor market areas (thousands) . .. ........... Manufacturing employment in 18 labor market areas (thousands) .. . ....... . . . .. .. ............ .. .. . .. .. .... Total unemployment in 18 labor market areas (thousands) ...... Percent of labor force unemployed in 18 labor market areas .. Average weekly hours-manufacturing, index ............. ........... Average weekly earnings-manufacturing, index ... .. ................. 123.7 77.5 118.0 99.9 106.2 $ 452.7 51 105.6 117.6• 133.8• 109.2• 76.0• 38.0• 134.6• 125.7• 89.o• 108.5 120.4 113 129 122 134 92 12.5 137.l 122.7 152.4 266 310 86 123.6 146.0 $ 3,557 $ 5,693 $ 2,865 $121,477 $211,970 2,655.o• 501.7• 244.9• 256.8• 2,411.0 2,239.3 398.8 115.4 4.8 100.7 Ill.I 132.8 75.8 131.l 100.2 106.l $ 451.lr 52 105.6 114.6r 118.9r 112.3r 66.4• 36.9• 139.0r 130.9r 89.lr 111.5 ll9.4r 114 129 122 134 95r 12.7 139.5 115.3 175.9 262 311 84 133.l 145.2 $ 3,514 $ 5,686 $ 2,888 $125,211 $570,425 2,636.0r 499.lr 243.7 255.4r 2,402.l 2,222.9 395.8 126.3 5.3 100.5 110.4 128.3 76.6 103.5 100.7 105.0 $ 435.2 33 102.6 ll7.6r 136.5r 108.lr 75.7r 40.3r 127.9 121.6 88.3 103.4 117.0 109r 123r 119r 126r 9lr 12.3 129.2 114.7 156.9 257 306r 84 129.2 136.5 $ 3,306 $ 5,341 $ 2,897 $123,991 $231,494 2,596.2r 500.2r 241.3r 258.9r 2,325.0 2,156.2 392.8 108.0 4.6 101.0 110.9 131.6 75.6 122.3 100.2 106.l $ 452.l 53 106.9 69.4 39.4 135.8 126.8 88.8 111.0 119.6 113 129 122 134 94 12.5 132.4 116.3 155.4 264 311 85 131.9 146.4 $ 3,526 $ 5,666 $ 2,904 $122,290 $350,292 2,640.6 500.0 243.7 256.3 2,407.6 2,226.8 396.8 124.3 5.2 100.2 110.5 130.5 75.9 105.2 100.7 104.8 $ 432.0 34 102.9 69.6 40.6 127.4 119.9 91.2 105.5 115.8 109 121 115 125 94 12.8 123.0 111.5 147.4 258 305 85 131.5 132.3 $ 3,268 $ 5,272 $ 2,906 $118,954 $335,298 2,581.6 496.9 238.7 258.2 2,323.2 2,149.0 391.2 114.5 4.9 99.7 110.l