TEXAS BUSINESS REVIEW 

A Monthly Surnmary of B1tsiness and Econoniic Conditions in Texas 
B U REA U OF BUSINESS RESEARCH THE UNIVERSITY OF TEXAS 
POSTWAR PROBLEMS OF THE TEXAS PETROLEUM INDUSTRY by Francis B. May I THE BUSINESS ~11 uA­TION IN TEXAS by John R. Stockton / TEXAS BUILDING CONSTRUCTION JN :-.1AY by James ]. Kelly 
VOL. xxxn11, NO. 7 
JULY 1964 $3.00 A YEAR 
TEXAS BUSINESS REVIEW VOL. XXXVIII, NO. 7' JULY 1964 
Editor: Stanley A. Arbingast I Associate Editor: Francis B. May I Managing Editor: James J. Kelly 
Editorial Board: Stanley A. Arbingast, Chairman, John R. Stockton, Francis B. May, Robert H. Ryan, James J. Kelly 

CONTENTS 
157: 	THE BUSINESS SITUATION IN TEXAS by John R. Stockton 
160: 	POSTWAR PROBLEMS OF THE TEXAS PETROLEUM IN­DUSTRY by Francis B. May 
164: 	TEXAS RETAIL SALES IN MAY by Robert M. Lockwood 
166: 	TEXAS BUILDING CONSTRUCTION IN MAY by James J . 
Kelly 
TABLES 

158: 	SELECTED BAROMETERS OF TEXAS BUSINESS 
159: 	BUSINESS ACTIVITY INDEXES IN 20 TEXAS CITIES 
161: 	UNITED STATES IMPORTS AND EXPORTS OF CRUDE PE­TROLEUM AND REFINED PRODUCTS, 1920-1963 
162: 	
ESTIMATED PROVED WORLD RESERVES, JANUARY 1, 1963 

162: 	
AMOUNT AND ANNUAL INCREASE IN AMOUNT OF UNITED STATES IMPORTS OF PETROLEUM AND PETRO­LEUM PRODUCTS, 1945-1963 


163: 	CALCULATED CONSUMPTION OF ENERGY FUELS AND ENERGY FROM W ATERPOWER EXPRESSED AS A PERCENT­AGE OF TOTAL ENERGY CONSUMPTION IN THE UNITED STATES, 1950-1963 
164: 	RETAIL SALES TRENDS BY KINDS OF BUSINESS 
165: 	
ESTIMATES OF TOTAL RETAIL SALES 

165: 	
POSTAL RECEIPTS 


166: 	ESTIMATED VALUE OF BUILDING AUTHORIZED 
168: 	LOCAL BUSINESS CONDITIONS 
CHARTS 
157: 	TEXAS BUSINESS ACTIVITY 
158: 	
INDEX OF TEXAS INDUSTRIAL PRODUCTION, TOTAL MANUFACTURING 

158: 	
INDEX OF TEXAS INDUSTRIAL PRODUCTION, DURABLE MANUFACTURES 


159: 	
INDEX OF TEXAS INDUSTRIAL PRODUCTION, NONDURABLE MANUFACTURES 

159: 	
INDEX OF TEXAS INDUSTRIAL PRODUCTION, MINING 


161: 	CRUDE PETROLEUM PRODUCTION IN TEXAS 
166: 	BUILDING CONSTRUCTION IN TEXAS 
167: 	
INDEX OF RESIDENTIAL CONSTRUCTION AUTHORIZED 

167: 	
INDEX OF NONRESIDENTIAL CONSTRUCTION AUTHORIZED 


BUSINESS RESEARCH COUNCIL 
John Arch White, Dean of the College of Business Admin­istration (ex officio); John R. Stockton; Jim G. Ashburne, Jessamon Dawe, James R. Kay, Stephen L. McDonald, 
E. W. Mumma, and W. T. Tucker 
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, Clark, Marie Fletcher, Louise K. Iscoe, Joe James J. Kelly, Ida M. Lambeth, Robert M. 
Charles T. H. Jones, LockwOod, 
Margaret Paulissen, Charles A. Pieper, Robert H. Ryan, 
Elizabeth R. Turpin, Robert B. Williamson Research Assistant: Bobby G. Bizzell, Terry D. Kahn, Harold L. Sides, William W. White 
Administrative Secretary: Margaret F. Smith Senior Secretary: Diana Rausch Senior Clerk Typist: Pauline M. Casey, Claire Howard 
Carollin Mayes, Sharon Wheat Cartographer: Judy Buerkle Library Assistant: Merle Danz Statistical Assistant: Mildred Anderson, Constance 
Coo ledge Statistical Technician: Kathleen Hudkins Clerical Assistant: Pamela Binkley, Robert T. Jenkins Offset Presa Operator: Robert Dorsett, Daniel P. Rosas 
The Bureau of Business Research is a member of the Associated University Bureaus of Business and Economic Research. 
Published monthly by the Bureau of Business Research, College of Business Admini•tration, The University of Texas, Auetin, Texas, 7~712; Second-class postage paid at Austin, Te.itas. Content of this publication is not copyrighted and may be reproduced freely. Acknowledirmen ° source will be appreciated. Subscription, S3.00 a year; individual copie•, 25 cents. 

THE BUSINESS SITUATION IN TEXAS 

TEXAS BUSINESS ACTIVITY 

INDEX-ADJUSTED FOR SEASONAL VARIATION-1957·1959· 100 
200
200 
150
150 
100
100 


50
50 
0
0 

1953 '54 '55 '56 '57 '58 '59 '60 '61 '62 '63 '64 
NOTE: Shaded areas indicate periods of decline of total business activity in the United States. 
THE BAROMETERS OF TEXAS BUSINESS IN MAY INDICATED that business activity in the state is still maintaining its strength. The current upswing in business has now run 40 months and, except for the period including the Korean War, is the longest expansion in business activity in the postwar era. It now seems reasonable to expect that be­fore any adjustment occurs, Texas business will surpass even the 45-month rise of business activity from October 1949 to July 1953. 
The index of Texas business activity, compiled by the Bureau of Business Research from the reports of debits to individual accounts collected by the Federal Reserve Bank of Dallas, slipped 2% from April, but the average for the first five months of 1964 was 7% above the av­erage for the same period in 1963. There appears to be no special significance in the decline from April since that month had registered an unusually large increase (4%). Erratic fluctuations, such as an unusually high month being followed by a decrease, are to be expected in all business barometers, and the analyst should always look for the underlying trend in the series. There is no indication at the present time of any reversal of the present high level of activity. 
Consumer spending in Texas picked up sharply in May after a decline in April. Durable goods stores reported an increase of 37c in sales, after adjustment for seasonal variation, and nondurable goods stores an increase of 4'7<. The first five months of 1964 have shown increases in sales over the same period of 1963 for practically all kinds of business. The fact that consumer spending in­creased consistently in nearly all types of stores is evi­dence of a sound rise in business activity over the twelve­month period. It is estimated that durable goods stores increased their sales 4'/c in the first five months of 1964 compared to the first five months of 1963, while nondurable goods store sales increased l '/c . However, the level of con­sumer spending is still below that of the early months of 1964, since the rise in May failed to recover all the 
JULY 1964 157 
INDEX OF TEXAS IND STRIAL PRODUCTIO
INDEX OF TEXAS I D STRIAL PRODUCTION, 
DURABLE MA UFACTURES
TOTAL MANUFACTURI NG 
INOEX-N>JUSTEO FOi. SEASONAL VMIATION-1951·1959· JOO 
/NOEX-.ADJUSTED FOR SE.I.SON.Al. VMIATION-1957-1959· 100 


NOT£: Shaded 1 rea• indica1e period• of dec:line of 1011.I bu1ine11 aetivity 1n the Uni1ed Stue1. 
volume lost in April. It is still too early to determine accurately whether the reduced volume of the last two months indicates a change in the underlying trend of con­sumer spending. It is important to watch this series in coming months, for there seems to be some weakness in this sector of the Texas economy. 
Data for retail sales in the United States are more optimistic than for Texas. Preliminary estimates by the Bureau of the Census indicate that May sales rose 1.4% to a new high for the seasonally adjusted series. The previous all-time high was in February, and the May volume topped this figure by 0.7%. While the national volume of consumer spending is slightly more favorable than for Texas, it still does not indicate that the tax cut has stimulated any substantial amount of consumer spend­ing. Retail inventories, adjusted for seasonal variation, were higher at the end of April than at any previous time. 
SELECTED BAROMETERS OF TEXAS BUSINESS ( 1957-59=100) 
Percent change  
Index  May 1964  Apr 1964  May 1964 May 1964 May from from 1963 Apr 1964 May 1963  

Texas business activity . . .. 146.5 149.1 142.7r -2 + 3 Miscellaneous freight carload­
ings in S.W. district . 77.1 79.6 79.7 -3 3 Crude petroleum production ......101.8• 98.1* 96.3r + 4 + 6 Crude oil runs to stills . . .116.0 113.7 106.5 + + 9 Total electric power consumption 165.5* 163.0* 149.4r + 2 + 11 Industrial power consumption . . . 150.61) 150.8¢ 134.6r ¢¢; + 12 Bank debits 146.6 149.5 142.7 -2 + 3 Ordinary life insurance sales. 143.7 157.1 143.7 -9 •• Total retail sales .. 122.6* 118.1* 124.4r + 4 
Durable-goods sales 143.0* 138.2* 143.9r + 3 -1 Nondurable-goods sales .. . 112.1• 107.7• 114.4r + 4 -2 Urban building permits issued 11 5.8 143.9 136.7 -20 -15 Residential . 110.4 117 .0 133.3 -6 -17 Nonresidential 126.5 169.0 144.9 -25 -13 Total industrial production 126• 124• 120r + 2 + 5 Total nonfarm employment 111.1* 110.9* 108.Sr •• 2
+ 
Manufacturing employment .....109.o• 108.6* 106.2r 
+ 3 
Total unemployment 90.4 91.4 104.9 1 -14 Insured unemployment 88.0 91.0 103.2 -3 -15 Average weekly earnings-
manufacturing .. . 117.5* 118.1* 113.8r -3
+ 
Average weekly hours­manufacturing ... 102.2* 102.5* 102.0r .. •• 
Adjusted for seasonal variation. 
*Preliminary. 
rRevised. 
••Change is less than one-half of 1%. 

NOTE: Shaded • rns indicate pe riods of dedine of tol•I bu•ineu ac1ivi1y 1n the Un.11ed S1,.1u. 

Personal income for the United States rose 0.2% in May, which is a somewhat smaller monthly increase than has been maintained since last summer. All components of nonagricultural income increased at approximately the same rate, but farm proprietors' income declined slightly. The general slowing down in the increase in personal in­come probably is a factor in the slowing down in con­sumer spending, as reflected in retail sales. No informa­tion is available for personal income in Texas, but it seems logical to assume that the trend in the state is approximately the same as in the country as a whole. Information on weekly earnings in manufacturing and other selected industries in Texas represents the only component of personal income for which information is available, and this data is reasonably consistent with the national trend in personal income. Average weekly eam­ings for May increased from April in all but a few cate­gories, but the overall increase in earnings was very small. For the United States wages and salaries represent ap­proximately two-thirds of total personal income, so the information ori weekly earnings in Texas gives a reason­able basis for the conclusion that the slowing down in retail sales is related to smaller increases in income. 
The total number of persons in the labor force in Texas increased from 3,739,200 in April to 3,762,900 in May, with the number unemployed decreasing from 147,000 to 142,500. The number unemployed in Texas in 'May rep­resented 3.8% of the labor force, compared to 4.9% for the United States. The total number of persons employed in Texas in May increased 28,100, with employment in agriculture accounting for 21,300, and in manufacturing for 1,600 . 
The index of industrial production in the United States 
increased for the eighth consecutive month, bringing the 
index to 130.3% of the 1957-59 base. The increase was 
widespread, with practically all major industry groups 
contributing to the rise. The index of industrial produc­
tion in Texas, compiled by the Federal Reserve Bank of 
Dallas, rose to an all-time high of 126 in May, 2% above 
the April level and 5% above a year ago. This index has 
been rising, although somewhat irregularly, with the re­
sult that the first five months of 1964 averaged 7% above 
the same period in 1963. The mining component of ~he 
index rose from 101 in April to 106 in May, reflecting 
the improved condition of the oil industry. The manufac­
turing component rose from 141 to 142. 
Industrial power consumption in Texas remaine~ ~n­
changed in May but was 12% higher than a year earlier. 
TEXAS BUSINESS REVIEW 

INDEX OF TEX AS INDUSTRIAL PRODUCTION, INDEX OF TEXAS INDUSTRI AL PROIHICTlON, NONDURABLE MANUFACTURES MINING 
INDEX-ADJUSTED FOR SEASONAi. VMIATION-1957·1959· 100 INDEX-ADJUSTED FOR SEASONAi. VAAJATION-1957·1959· 100 



NOTE: Shaded 11ros indicatt" periods of tlec:line of tou.l busine•s activity in the United State1. 

The first five months of 1964 were 12% above the same period of 1963. Oil production in May was 4o/c higher than in April, while crude runs to stills were up 2%. With the first five months of 1964 running 6.5% ahead of the same period last year, there is some indication that the industry is still making progress in working out of the decline that has plagued it in recent years. May 1964 production exceeded the May production of the pre­ceding four years. Refinery operations have held up better than crude production, and crude runs to stills estab­lished an all-time record for May. Crude runs for the first five months of 1964 were 4% greater than for the same period of 1963. Average weekly hours in petroleum refining increased from 40.8 in April to 41.2 in May. In crude petroleum and natural gas production, weekly hours increased from 41.2 to 42.8. These two industries turned in a better performance than total manufacturing, which reduced the average weekly hours worked from 41.8 to 
41.7. Construction activity in Texas showed considerable weakness in May. The total value of building permits issued dropped 20% from April, bringing the total auth­orized for the year to date 2% below the amount author­ized during the first five months of 1963. Residential per­mits issued were down 6% in value, but nonresidential permits declined 25%. The construction industry is such an important segment of the economy of the state that a decline of this amount is cause for concern. The decline for one month may subsequently turn out to be a ran­dom fluctuation, but the fact that the year to date is below last year indicates that a decline in the rate of new construction is under way. For the United States total new construction expenditures remained unchanged, but housing starts at a seasonally adjusted annual rate of 1,501,000 units were down from the April annual rate of 1,515,000 units. Applications for FHA commitments and requests for VA appraisals were also down somewhat. Probably the most encouraging aspect of the Texas business situation is found in the results of a survey just released by the Department of Commerce and the Se­curities and Exchange Commission. This survey, made in May, projects 1964 business spending on plant and equip­ment at a level 14% higher than in 1963. A similar sur­vey made in February had projected an increase of 
10%, so the most recent report represents a substantial increase over the previous one. 
In the manufacturing category, automobile, oil, and chemical companies reported the greatest increases in an-
NOTE: Shaded lo TUI indic ate pe riod• of decline o! tot;i.I bu11ne11 activity in 1he United States. 

ticipated spending. Oil companies anticipated an increase in capital spending of 20'7< more than last year, and chemical makers plan to increase their outlays 14% over last year. In February the mining industry anticipated no increase in capital spending, but the May survey in­dicated an increase of 5o/c . Since these industries have important investments in Texas, it is to be expected that their expenditures for new plant and equipment in Texas will be substantial. Railroads and other transportation firms also reported upward revisions in their capital spending plans. The results of the survey on capital expenditures are in line with the expectations of economists, who had argued that the reduction in taxes would be a stimulant to business. Since the effects of this increase in spending for plant and equipment will be spread over a period of time, there is good reason to believe that the present upswing in business will continue for some time in the future. Texas industries are well represented in the categories that have expressed the intention to 
expand substantially, so it appears that the remainder of 1964 should be a period of improved business in the state. 
BUSINESS ACTIVITY INDEXES IN 20 TEXAS CITIES (1957-59=100) 

Percent change  
City  May 1964  Apr 1964  Mayr 1963  May 1964 from Apr 1964  May 1964 from May 1963  

Abilene 119.4 130.2  116.9  + 2  
Amarillo 158.4 159.5 Austin 177.6 166.4  122.5 176.8  -1 + 7  + 29. 
 
Beaumont 134.0 152.6  129.4  -· 12  + 4  
Corpus Christi 114.7 124.0  116.0  7  
CorsicRna 119.5 120.2  122.4  -I  
Dallas 158.1 163.5  154.2  -3  + 3  
El Paso . .135.4 119.2  130.9  + 14  + 3  
Fort Worth 110.2 121.7  116.3  9  5  
Galveston 115.3 112.2  115.2  + 3  ••  
Houston . . 143.7 158.7  135.9  9  + 6  
Laredo 134.4 147.7  138.8  9  3  
Lubbock 157.2 158.9  144.2  1  + 9  
Port Arthur 103.5 100.I  104.8  + 3  1  
San Angelo ... .122.0 124.9  119.5  + 2  
San Antonio 131.2 142.7  143.1  8  
Texarkana .. 149.7 158.7  150.7  6  
Tyler . . . .123.5 132.7  127.8  7  3  
Waco .134.1 140.6  127.4  -5  + 5  
Wichita Falls 126.4 132.0  118.1  + 7  
Adjusted for seasonal variation.  
••Change is less than one-half of lo/c .  
rRevised.  

JULY 1964 159 
Postwar Problems of the Texas Petroleum Industry 
The second of two installments 

by Francis B. May 
Professor of Business Statistics, The University of Texas 

AFTER WORLD WAR II THE DOMESTIC PRODUCER OF PETRO­ieum was in a favorable position. Demand was rising rapidly. Exploration was producing favorable results. Profits were at satisfactory levels. Texas, the state with the largest total production, enjoyed a high and rising level of prosperity among producers-large and small. 
As the years passed, problems of Texas producers, which had been minor, increased in magnitude. These problems were: 
1. 	
A substantial rise in the volume of imports of crude petroleum ; 

2. 	
Competition from natural gas and natural-gas liquids in the space-heating market; 

3. 	
Pressures resulting from a relatively rapid growth of production in other states; and 

4. 	
A reduction in the growth rate of domestic demand fo1· petroleum. 


Imports of Foreign Oil 
At the close of World War II the United States was producing 66.0'/, of world production of 2.6 billion bar­rels of oil a yea1". Texas production in 1945 was 755 million barrels, 44 % of national production of 1.7 billion barrels and 29% of world production. Total U. S. de­mand for crude petroleum was 1.8 billion barrels an amount slightly above production and equal to 69o/o of world production. The difference was imported with the result that, although the United States was a net exporter of all oils, crnde and refined, the excess of exports was due to shipments abroad of 150.0 million barrels of refined products. Table 1 shows how this net balance of exports was divided between crnde petroleum and refined 
products. The United States was a net exporter of refined prod­ucts from 1920 until 1949. In 1950 there was an increase 
in products imports from 81.9 million to 132.5 million b:urels, a 62C/r increase in a single year which wiped out the export surplus in this category. In 1951 products exports rose substantially so that exports were only 
3.7 million banels below imports. Imports continued to rise rapidly-more rapidly than exports so that by the end of 1963 the surplus of imports over exports was 290 million barrels. It is apparent from Table 1 that this great imbalance was due to a decline in exports of products that began in 1958. 
In 1963 total refining capacity in the United States was 10,491,000 banels a day. Free world refining capacity amounted to 24,409,100 barrels a day. United States capacity was 43o/r of the free world total. Crude runs to stills in 1963 averaged 8,687 ,000 barrels a day or 83'7(-of capacity. The volume of imports of products was not necessitated by any shortage of refining capacity. Imports of refined products averaged 1,000,000 barrels a day. If imports had ceased in 1963, refining would not have increased as much as 1,000,000 barrels a day be­cause 75o/r of the refined imports consisted of residual fuel oil which is not as large a constituent of refinery output in this country as it is abroad. It is true, however, that the remaining 25 % consisted of products that could have been supplied by domestic refiners. 
Although the United States became a net exporter in 1924 because of large exports of refined products, it con­tinued to be a net importer of crude. Imports of crude in 1924 amounted to 77.8 million barrels. Exports were only 18.2 million barrels. Most of the crude exported in 1924 was shipped to Canada. From 1919 until 1955 Canada was the largest single purchaser of crude petroleum pro­duced in this country. 
Crude imports continued to exceed exports until 1933. From 1920 to 1933 imports declined from a peak of 127.3 million banels in 1922 to 31.9 million barrels in 1933. Exports rose from 9.3 million barrels in 1920 to 36.6 mil­lion barrels in 1933. The East Texas oil field, discovered in 1930, supplied a large part of this surplus of crude. From 1930 to 1933 United States production rose from 
898.0 million to 905.7 million barrels, a net increase of only 7.7 million barrels. Texas production rose from 
290.5 million barrels in 1930 to 402.6 million in 1933, a net gain of 112.1 million barrels. The small net national increase was a result of declines in production in Okla­homa, California, Ohio, and several other states which offset much of the large increase for Texas. 
Exports of crude oil continued to exceed imports until 1941. In 1940 exports amounted to 51.5 million barrels. Imports were 42.7 million barrels. Canada received 28.8 million barrels, or 56%, of exports. Japan, the second 
TEXAS BUSINESS REVIEW 

largest importer of United States crude in 1940, received 
11.5 million barrels or 22% of the total. France and Italy, the third and fourth largest purchasers, received 5.4 mil­lion and 1.4 million barrels respectively. Due to the ef­fects of the war, exports to France, Italy, Germany and Japan had ceased by 1941. Exports to the United King­dom in 1941 were cut 55o/r from the preceding year. 
United States exports of petroleum exceeded imports again in 1942 and 1943. Canada took almost all of the increase. The United Kingdom purchased the remainder. Exports to all other countries declined. This country was supplying the needs of its allies for oil to fight a war. From 1941 to 1943 total national petroleum output in­creased from 1,402.2 million to 1,505.6 million barrels, 
Table 1 
UNITED STATES IMPORTS AND EXPORTS OF CRUDE PETROLEUM AND REFINED PRODUCTS, 1920-1963 (Million• of barrele) 
Imports  Exports  
Net  
Year  Crude  Products  Total  Crude  Products  Total  Exports  

1920  106.2  2.6  108.8  9.3  70.3  79.6  29.2•  
1921  125.4  3.4  128.8  9.6  62.0  71.6  57.2•  
1922  127.3  8.7  136.0  10.8  63.5  71.3  61.7•  
1923  82.0  17.6  99.6  17.5  84.4  101.9  2.3  
1924  77.8  16.8  94.6  18.2  98.9  117.1  22.5  
192S  61.8  16.4  78.2  13.3  100.5  113.8  35.6  
1926  60.4  20.9  81.3  15.4  116 . .5  131.9  50.6  
1927  58.4  13.4  71.8  15.8  125.8  141.6  69.8  
1928  79.8  11.8  91.6  19.0  136.0  155.0  63.4  
1929  78.9  29.8  108.7  26.4  136.7  163.1  54.4  
1930  62.1  43.5  105.6  23.7  132.8  156.5  50.9  
1981  .... 47.3  38.8  86.1  25.5  98.9  124.4  38.3  
1982  44.7  29.8  74.5  27.4  74.3  101.7  27.2  
1933  31.9  13.5  45.4  36.6  67.6  104.2  .58.8  
1984  35.6  14.9  50.5  41.1  71 .7  112.8  62.3  
1935  32.2  20.4  52.6  51.4  74.3  125.7  73.1  
1986  32.3  24.8  57.1  50.3  79.1  129.4  72.3  
1937  27.5  29.7  57.2  67.2  102.1  169.3  112.1  
1938  26.4  27.9  54.3  77.3  116.5  193.8  139.5  
1939  33.1  26.0  59.1  72.1  116.9  189.0  129.9  
1940  42.7  41.1  83.8  51.5  79.0  130.5  46. 7  
1941  50.6  46.5  97.1  33.2  75.6  108.8  11.7  
1942  12.3  23.7  36.0  33.8  83.1  116.9  80.9  
1943  13.8  49.6  63.•  41.3  108.6  14:).9  86.;;  
1944  44.8  47.5  92.3  34.2  173.4  207 .6  115.3  
1945  74.3  39.3  113.6  33.0  150.0  183.0  69.4  
1946  86.1  51.6  137.7  42.4  110.1  153.1  lo.4  
1947  97.5  61.9  159.4  46.4  118.1  164.o  S.1  
1948  .129.1  59.1  188.2  39. 7  94.9  134.6  53.6°  
1949  .. .. 153. 7  81.9  235.6  33.1  86.3  119.4  115.2•  
1950  .. 177.7  132.5  310.2  34.8  76.5  111.3  198.9•  
1951  .. 179.1  129.1  308.2  28.6  125.4  154.0  154.2°  
1952  .... 209.6  138.9  348.5  26.7  131.5  158.2  190.3•  
1953  . . . . 236.5  141.0  377.5  19.9  126. 7  146.6  230.9*  
1954  ... . 239.5  144.5  384.0  13.6  116.1  129.7  254.3*  
1955  285.4  170.1  455.5  11.6  122.6  134.2  321.3*  
1956  . . . . 341.8  183.8  525.6  28.6  128.8  157.4  368.2*  
1957  . 373.3  201.3  574.6  50.2  156.9  207.1  367.5*  
1958  ... . 348.0  270.7  618.7  4.3  96.4  100.1  518.o•  
1959  . .. . 352.3  297.2  649.5  2.5  74.5  77.0  572.5°  
1960  .. 371.6  292.5  664.1  3.1  70.8  72.9  590.2°  
1961  . . .. 381.5  318.1  699.6  3.2  60.3  63.5  636.1°  
1962  .. .. 411.0  348.0  759.0  1.8  59.5  61.3  697.7°  
1963 J>  412.5  365.0  777.5  1.8  74.1  75.9  701.6°  

•Excess of total imports over total exports. pPreliminary. Sources: U. S. Bureau of the Census, HU.torical Statistics of the United States, Colonial Time• to 1951. 
American Petroleum Institute, Petroleum Facts and Figures, Centen­nial Edition and 1968 Editi<m. 
U. S. Bureau of Mines, Monthl11 Petroleum Statement, March 6, 1964. 

an increase of 103.4 million. Texas output during the same period rose from 505.6 million to 594.3 million barrels, a net increase of 80.7 million barrels or 85'/r of the total national increase in output. In 1943 Texas production amounted to 39'/r of total national production. 
In 1944 petroleum imports to this country from Vene­zuela jumped from 9.3 million barrels in the preceding year to 36.7 million barrels, an increase of 27.4 million barrels. There were large new discoveries in Venezuela at that time to account for such an increase. After World War II stopped development of oil fields in the Middle East, many major companies increased exploration and 
CR UDE PETROLEU~I PHODUCTIO~ l:'l TEXA 
INOf.X-NJJUSTEO FOR SEASONAL VAIUATlON-1957-1959· tOO 

NOT E : Shaded are. 1 indicaa pe riod• of dtcline of to!al bu•ine lf 1chv,1y 1n lhe Unned St.1le1, 
development in South America. Since discovery of the im­mense Mene Grande field in Venezuela in 1914, many companies had been active in that country. The events of World War II heightened their interest in an area with a government friendly to the United States. This large increase in imports tipped the balance in favor of a sur­plus of petroleum imports over exports in 1944. Imports of 44.8 million barrels exceeded exports by 10.6 million barrels. 
During this twenty-five-year period of 1920 through 1944, the United States was a net exporter of petroleum for a total of only ten years. The largest net balance of exports was 50.9 million barrels in 1938. This net balance was only 4r;, of total national production of 1,214.4 million barrels in that year. It is obvious that from an overall point of view these expo1ts, worth a little more than a dollar a barrel at the wellhead, were not of para­mount importance to the industry. The domestic market consumed 96'/r of national output in 1938 and a com­parable percentage during those years in which the U. S. was a net petroleum exporter. It was his position in the growing national market that concerned the typical do­mestic producer. 
The United States position as a net exporter of pe­troleum and its products during the 1923-1944 period was due in all but ten of those years to the surplus of exports of refined products. In the years in which there was a surplus of exports of petroleum, as well as its products, exports of products were greater than those of petroleum. This was due to the fact that much of the petroleum refining capacity of the free world was located in the United States. This has been the case because of the tremendous investment in research in petroleum refining technology made by domestic oil refiners and because of the large domestic production of crude oil. 

JULY 1964 161 
During the 1920-1944 period, Texas became the largest nroducing-state. The oil producing, transporting, and re­fining i~dustries became a large and expanding portion of its economy. During this period, the concept of Texas as the "bala'lce wheel" of the domestic oil industry originated and secu1·ed a firm place in the imagination of domestic oil producers. If Texas production, through proration, could be keot from fluctuating violently, the domestic petroleum industry could be kept in balance. No other state produced enough oil to destroy this bal­ance. In 1944, for example, Texas produced 746.7 million barrels of oil, 45% of total national output of 1,677.9 million banels. ·california, the next largest producer, con­tributed only 311.8 million barrels to the national· output in 1944, less than half of the Texas total. 
After 1944 United States' exports of petroleum remained below imports. This country continued to be a net exporter of crude and products combined because of large ex­ports of products; ·however, even this was not enough because net exports of all oils (crude and products) be­gan to decline in 1945. From a peak of 115.3 million 
Table 2 ESTIMATED PROVED WORLD RESERVES, JANUARY 1, 1963 
Proved reserves Percent Area (billion barrels) of world 
United  States  31.4  10.1  
Othet' North  American  reserves  7.1  2.3  
Total  North  American  38.5  12.4  
South  America  21.7  7.0  
Western  Europe  1.6  .5  
Eastern  Europe  29.9  9.7  
Africa  12.3  4.0  
Middle  East  .. . . 194.0  62.7  
Far  East  11.6  3.7  
World Total  ...... . 309.6  100.0  

Source : Petroleum. Facts and Figures, 1963 Edition. American Petro~ 
leum Institute, New York. 
barrels in 1944, net exports of all oil sank to 5.1 million barrels in 1947. Since 1947 this country has been a net importer of petroleum. Imports of products have exceeded exports since 1950. 
The change of the United States to a net importer of petroleum was brought about by continued discoveries of large reserves in South America ai.d Canada and a series of dramatic new discoveries in the Middle East. These were followed by large discoveries in North Africa. As a result, proved world reserves on January 1, 1963, were as shown in Table 2. 
The rapidity of the shift in relative positions with respect to reserves is illustrated by the fact that in 1944 the United States held 39.6% of world proved re­serves. By January, 1963, this percentage had slipped to 
10.1. In 1944 the Middle East held 30.6% of world re­serves. By January 1, 1963, this percentage had more than doubled. Africa in 1944 had 0.2% of world reserves compared with 4.0% in 1963. 
On January 1, 1963, Texas reserves were 14.6 billion barrels, 46.5% of the United States total. 
This country is the world's principal market for pe­troleum. In 1920 national production of 442.9 million barrels was 64.3% of world production. The United States consumed a net equivalent of its total output of crude plus an additional 29.2 million barrels. Twenty years 
162 later the output was 62.9% of world production of crude. Consumntion was all but 8.8 million barrels of an out­put of 1.4 billion barrels. In 1962 United States output was 30.4'/r of world production. The net equivalent of all of this plus net imports of 410 million barrels of crude and 
290.9 million ba!'l'els of products was consumed. The gar­gantuan appetite of our nation for petroleum and its products has made it the chief market of the world, As a result, this country has become a magnet for imports. Countries with large reserves discovered by United States­based international oil companies naturally look to this nation as their prime market. The role of the dollar as an international currency has heightened their interest in sales to the United States to earn dollar foreign ex­change. As a result, pressure of imports on the domestic market has been severe. 
Table 1 shows a rapid rise in imports beginning after World War II. A sharper definition of the rapidity of in­crease is given in Table 3. 
Large increases in petroleum imports during the 1945­1963 period came in clusters of years. Periods of large increases in imports were 1948-1950, 1952-1953, 1955-1957, and the single years of 1960 and 1962. The drop in 1958 was caused by the closing of the Suez Canal, choking off imports of Middle Eastern petroleum. 
Large increases in imports of refined products also came in clusters of years. These were 1949-1950, 1955­1959, and 1961-1962. Since the major portion of imported products is residual fuel oil used as boiler fuel, and the major sources are Venezuela, Trinidad, Mexico, and Netherlands Antilles, the closing of the Suez Canal had no adverse effect. Instead, there was a large increase in these imports in 1957 and again in 1958. 
Shortly after World War II, independent petroleum producers in this country began to express concern about the rising tide qf imports. Texas producers began to feel increasing alarm. Up to 1956 production in the state was at high levels and growing, but the rapid increase in im­ports in 1955-1956 was obviously eroding Texas' share of the domestic market. A program of voluntary import quotas was inaugurated by the federal government. The initial quota system did not include the West Coast. Early in 1958 the program was expanded to cover all of the United States. 
As a result of this program, imports of petroleum de­clined in 1958. Imports of products, which were not in­cluded in quotas, l'OSe in 1958 by 69.4 million barrels to 
270.7 million barrels. Many domestic producers considered the program inadequate. Texas independents, whose share of the domestic market had declined from 33% in 1950 to 28% in 1958, were decidedly of this opinion. They wanted a compulsory program to limit imports to a spe­cified share of the domestic market. The most commonly quoted market share for imports was 9%. 
In response to urgent representations from domestic producers, a system of mandatory import quotas was im­posed by the federal government in March 1959. Presi­dential Proclamation No. 3279 placed imports of petro­leum and petroleum products under quotas. Imports from Canada and 'Mexico received by pipeline, and distillate and residual fuel oils used in bunkering vessels engaged in foreign trade or for offshore military use were exempted from mandatory controls. Imports of crude oils and un­finished oils for further refining were limited to 9% of 
TEXAS BUSINESS REVIEW estimated total demand for states east of the Rocky Mountains. In states west of the Rockies, the quota was based on the difference between the estimated available domestic supply and forecast demand. 

The 9'7< nuota for imports was based on total demand in Districts I-IV, the area east of the Rocky Mountains, excluding certain categories of imports. Under this sys­tem, total United States imports rose 59.4 million barrels in 1962 while Texas production declined. Texas producers protested that the system was not accomplishing its in­tended purpose. Exclusion of Canadian imports from quo­tas resulted in a rapid rise from 33.9 million barrels in 1959 to 84.9 million barrels in 1962. Most of the rise in petroleum imports during the 1959-1962 period was due to increased Canadian imports. The rise in imports in 
Table 3 AMOUNT AND ANNUAL INCREASE IN AMOUNT OF UNITED 
STATES IMPORTS OF PETROLEUM AND PETROLEUM 
PRODUCTS, 1945-1963 
(Millions of barrels) 
Petroleum Products Total Year Amount Increase Amount Increase Amount Increase 
1945  74.3  39.3  113.6  
1946  86.1  11.8  Sl.G  12.3  137.7  24.1  
1947  97.5  11.4  61.9  10.3  159.4  21.7  
1948  129.1  31.6  59.1  2.8•  188.2  28.8  
1949  .. . 153.7  24.6  81.9  22.8  235.6  47.4  
1950  .. 177.7  24.0  132.5  50.6  310.2  74.6  
1951  . . 179.1  1.4  129.1  3.4•  308.2  2.0*  
1952  209.6  30.5  138.9  9.8  348.5  40.3  
1958  . . . 236.5  26.9  141.0  2.1  377.5  29.0  
1954  ... ... . 239.5  3.0  144.ii  3.5  38~. o  6.5  
1955  285.4  45.9  170.1  25.6  455.5  71.5  
1956  341.8  56.4  183.8  13.7  525.6  70.1  
1957  373.3  31.5  201.3  17.5  574.6  49.0  
1958  ....348.0  25.3°  270.7  69.4  618.7  44.1  
1959  . . . . 352.3  4.3  297.2  26.li  649.5  30.8  
1960  ... . .. . 371.6  19.3  292.5  4.7•  664.l  14.6  
1961  381.5  ·9.9  318.1  25.6  699.6  35.li  
1962  ......411.0  29.5  348.0  29.9  759.0  59.4  
1968 p  . . .. . 412.5  1.5  365.0  17.0  777.li  18.5  
Source: U. S. Bureau of the Census, Historical Stati•tics of the United States, Colonial Times to 1957. 


•Decrease. 
pPreliminary. 
American Petroleum Institute, l'etroleum Fact• and Finures, Centen­nial Edition and 1989 Edition. 
U. S. Bureau of Mines, Monthl11 Petroleum Statement, March 6, 1964. 
1962 was greater than the incl'ease in domestic petroleum output in 1962. Texas producers, in their role as the "balance wheel" of the producing industry, suffered se­verely. Texas production in 1962 declined from its low level of 1961 by 2.7 million barrels. Total footage of oil wells drilled in the state remained at low levels. Manu­facturers of drilling machinery and oil-field equipment were in a distressed condition. Employment in oil and gas production was affected adversely. 
Continued protests by domestic oil producers resulted in the installation of a revised mandatory quota system at the close of 1962. Since total imports of crude oil and refined products had grown to 759.0 million barrels, 19.9o/c of total new supply, the old limitation of 9% was un­realistic. Under the new program imports into Districts I-IV were limited to 12.2% of domestic production of crude oil and natural-gas liquids. "Imports" included crude oil, finished products, and unfinished products but excluded residual fuel oil. The area west of the Rockies was again exempted from any hard-and-fast percentage quota. Imports from Canada and Mexico were included in the overall 12.2r/r auota for Districts I-IV. In June 1963 the regulation was changed to base the 12.2% on an estimate of future production rather than on actual production during a past period. The effect of this change was to raise the level of imports for the second half of 1963. Domestic producers immediately protested. 

Total imports of refined products and petroleum in 1963 amounted to 777.5 million barrels, as shown in Table 3. This was an increase over 1962 of 18.5 million barrels, nearly all of which was refined products. Residual fuel oil was the largest portion of refined products. Of the 17-million-barrel increase in refined products imports, 10 million barrels was due to increased residual oil im­ports. Residual fuel oil competes with coal and natural gas in the space-heating and boiler-fuel markets. Do­mestic refiners produced 277 million barrels of residual. 
Table 4 
CALCULATED CONSUMPTION OF ENERGY FUELS AND ENERGY 
FROM WATERPOWER EXPRESSED AS A PERCENTAGE 
OF TOTAL ENERGY CONSUMPTION IN THE 
UNITED STATES, 1950-1963 

Year  Total  Coal and lignite'  Imported Natural-Crude petroleumNatural gas Water-oil products gas liquids power  
1950  100.0  37.8  36.0  1.2  18.0  2.3  4.7  
1951  100.0  35.8  37.6  .3  19.6  2.4  4.S  
1952  100.0  32.4  39.0  .4  21.2  2.6  4.4  
191i3  100.0  31.6  39.'i  .Ii  21.6  2.7  4.1  
1954  100.0  28.l  40.8  .7  23.5  2.8  4.1  
1955  100.0  29.3  39.9  .9  23.1  3.0  3.8  
!U56  100.0  28.4  40.5  1.0  23.4  2.9  3.8  
1%7  100.0  27.1  40.5  .9  24.8  3.0  3.7  
1958  100.0  24.3  39.3  2.7  26.5  ~.o  4.2  
1959  100.0  23.2  39.2  3.0  27.6  3.1  3.9  
1960  100.0  23.2  38.2  3.2  28.3  3.2  3.9  
1961  100.0  22.4  38.0  3.4  29.0  3.3  3.9  
1~62  100.0  22.l  37.3  3.8  29.4  3.3  4.1  
1963 p  . . 100.0  22.5  37.3  3.2  29.7  3.4  3.9  

µPreliminary. 
1lncludes anthracite and bituminous coal. 
Source: U. S. Bureau of Mines, Monthly Petroleum Stateme11t, 

March 6. 1964. 
Imports were 274 million barrels. It cannot be said that imported residual has no competition among products of United States refiners. The level of imports in 1963 was held close to 1962 levels by the new program. 
During the first four months of 1964 imports averaged 1,161 thousand barrels a day of crude and 1,260 thousand barrels a day of products. Their combined total was 21.53% of total new supply which is composed of domestic production of petroleum and natural-gas liquids plus im­ports of petroleum and refined products. 
Texas production during the first four months of 1964 was up 4.2% over the comparable 1963 period, a wel­come rise. If the quota program continues to restrain the rise in imports, domestic producers will have an op­portunity to share rising demand. Texas will find its role of balance wheel less damaging to its oil-producing in­dustry, but there will remain the problem of competition of natural gas. 
Natural Gas as a Competitor to Crude Oil 
Table 4 shows how natural gas has increased its share of the energy market since 1950 from 18.0% to 29.7%. 
JULY 1964 
Much of this increase has been at the expense of fuel 
oil. Some of it has been at the expense of coal. The 
effect has been to hold crude oil at 37.3o/r of the fuel 
energy market for the past two years and to cause re­
duction in oil's share since 1957. 
Texas is the leading gas-producing state as well as 
the largest oil producer. Production in the state in 1963 
was 6.1 trillion cubic feet, 42'7< of national production 
of 14.8 trillion cubic feet. The great majority of oil pro­
ducers also produce and sell natural gas. So long as 
natural gas is priced at the wellhead below an equivalent 
amount of energy in the form of petroleum, natural gas 
will continue to make inroads on oil's markets. If it were 
priced on an equivalent basis, natural gas has advantages 
of cleanliness and ease of transportation that would 
make it still a strong competitor in the space-heating 
market. 
Rapid Growth of Output in Other States 

Although Texas has been the largest producer of pe­troleum since 1928, it has had vigorous competition from Oklahoma, California, Louisiana and, recently, Wyoming. Louisiana has moved up from third to second place, dis­placing California from that position. In 1962 Louisiana produced 477.2 million barrels of oil. In 1963 it increased output 45.6 million barrels to 522.7 million. Texas output in 1963 increased 29.8 million barrels, only 65% of the amount of increase for Louisiana. In 1962 the Louisiana increase of 54 million barrels was equal to the national increase. Texas' output decreased 2 million barrels in that year. It is important that producers in individual states not increase output disregarding growth of demand. 
Decline in the Rate of Growth of Domestic Demand 
Rapid increases in the number of automobile registra­tions and in vacation travel after World War II sent gasoline demand soaring. Other refined products also had favorable markets. The result was that until 1957 demand for petroleum rose 5%-6% a year. After 1957 this growth rate dropped. The rise in purchases 'f foreign-made econ­omy cars caused a major shift in the attitude of the do­mestic automobile manufacturers who had looked on them with disdain. Successful introduction of the Rambler and Lark showed that many users wanted small eco­nomical cars giving gasoline mileage much higher' than had been the case with popular American makes. The shift of a large number of motorists to economy cars has been a major factor in the drop in growth of domestic 
demand. 
Summary 
The Texas oil producer is confronted with four prob­lems that vitally affect his future: imports; competition from natural gas; imbalance in rates of growth of pro­duction in Texas and other states; and a reduced rate of growth of domestic demand. As the balance wheel of the do~estic industry, Texas has reduced production whenever it was necessary in order to maintain a balance bet~een supply and demand. In the past this has at times subJected the oil producers in the state to severe financial stresses. This may happen again in the future. In such a c~se Texas may be forced to abandon its balance-wheel 
pohcy. 
TEXAS RETAIL SALES 
IN MAY 
by Robert M. Lockwood 

RISING ALMOST 4<Jc FROM THE YEAR'S LOW IN APRIL, THE May index of total retail sales in Texas, after adjust­ment for seasonal influences, attained a level of 122.6% of the 1957-1959 average. Automotive stores alone were responsible for the increase of more than 3% in the adjusted index of durable goods sales. which rose to 143%, a tenth of a point higher than the 1964 high re­corded in January. Only one of the seven major categories of nondurable goods failed to move better than expected in May, and this broad push raised the index of non­durable goods sales by more than 4%, to a seasonally adjusted level of 112.1'7< of the base-period average. 
Up 7% from April, estimated total retail sales in Texas in May amounted to $1,136.2 million, pushing the cumu­lative total for the first five months of 1964 some 2% above the comparable "figure for last year. As the indexes suggest, the gain in total dollar sales was roughly the same in both retail categories. Estimated durable goods sales rose 6% from April to a level of $465.5 million. Estimated cumulative durable goods sales for January­May 1964 totaled $2,085.2 million, 4% above the figure for the first five months of last year. At $670.7 million, estimated nondurable goods sales for May gained 7o/r on the April total, and the estimate for the first five months was up 1 % from January-'May 1963. The May 1963 to May 1964 comparison of estimated retail sales were not quite so favorable, with total sales down 1%, 
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 chan1re 
Normal seasonal• Actual Jan-May 
Number of 1964 reporting May May 1964 May 1964 from establish-from from from Jan-May 

Kinds of business ments Apr Apr 1964 May 1968 1988 
DURABLE  GOODS  
Automotive  storest  . . 324  ••  + 7  + 9  +9  
Furniture & household  
appliance  storest  . .....179  +rn  +1s  + 6  + 6  
Lumber, building  
material,  and  
hardware  stores  252  +  4  + 1  -1  + 1  
NONDURABLE  GOODS  
Apparel stores Drugstores  317 ....... . . 179  -5 + 5  +12 + 6  + 7 + 4  + 6 + 2  
Eating and drinking placest . . 121 Food stores ...........416  + 5 + 2  + 8 + 5  + 4 + s  + 2 + s  
Gasoline and service  
stations  .......... . . .. 555  + 5  + 4  -3  + 2  
General  merchandise  
storest  .... .. ....307  + 4  +12  + 6  + 6  
Other retail storesj  ... .. . 280  + 4  + 6  -2  + 2  

•Average seasonal change from preceding month to current month. 
••Change is less than one-half of 1'/'o. 
tlncludes kinds of business other than classification listed. 

TEXAS BUSINESS REVIEW durable goods sales unchanged, and nondurable goods sales off 2o/r from last May. 

Among the three major categories of durable goods out­lets, only automotive stores did better in May than sea­sonal expectations. Automotive stores did 7% more busi­ness in May than in April, compared to an ·expected level unchanged from April. In a kind of business proportion­ately so significant in both durable and total retail sales, this gain was considerable. It reflects the year-long auto­mobile buying which, in the state as in the nation, began late last fall and has not yet really begun to slow down, at least over the state as a whole. 
Neither furniture and household appliance stores nor lumber, building material, and hardware dealers did as well as historical trends showed they might expect. Fur­niture and appliance sales were up 13% from April, a respectable increase except in comparison to the normal seasonal increase of 19% in May. Of the cities reporting in this category, seven indicated sales at least 19% above those for April. These cities were Beaumont, Galveston, Houston, Jasper, San Antonio, Sherman, and Temple. Other increases ranged from 5% (Port Arthur) to 18% 
(Austin). Abilene, Amarillo, McAllen, and Odessa re­
ported decreases ranging from 2% to 6 % . 
ESTIMATES OF TOTAL RETAIL SALES 

Percent change  
Clasalllcation  May Jan-May 1964 1964 (millions of dollars)  May 1964 from Apr 1964 Jan-May 1964 May 1964 from from Jan-May May 1963 1963  

TOTAL . $1,136.2 $5,338.5 + 7 -1 + 2 
Durable goods• 465.5 2,085.2 + 6 •• + 4 
Nondurable goods 670. 7 3,253.3 + 7 -2 + 1 
•Contains automotive stores, furniture stores, and lumber, buildin11: 

material, 	and hardware stores. ••Change is less than one-half of 1o/c. 
Hardware stores led the businesses comprising the lum­ber, building material, and hardware stores group, with an increase of 9% in May. Farm implement dealers re­ported a 2% decrease, and lumber yards showed no change from April. The entire category, however, increased only 1% instead of the expected 4%. 
What Easter apparently failed to do for department store buying may have been accomplished by Mother's Day. In any event, apparel stores and general merchan­dise stores reported sales in May which were improved over those of April by considerably more than seasonal expectations. Generally expected to decline from April by about 5%, apparel sales rose 12% in May, attaining a level 18% better than seasonal fluctuations had sug­gested. General merchandise sales, which usually rise about 4% in May, increased their April level by 12%. This welcome improvement surely reflects a much im­proved atmosphe1·e for department store buying, since these establishments are both volumetrically and quan­titatively by far the most important segment of the gen­eral merchandise category. 
Eating and drinking places, a category dominated, of course, by restaurants, increased their April sales by 8% instead of the anticipated 5%. A similar improvement over seasonal expectations was recorded by food stores, the sales of which rose 5% from April, compared to a normal seasonal increase of about 2%. The groceries-without-meats subcategory, volumetrically and numerically the less imoortant of the two. gained 8o/r on April sales, compared to 5o/r for stores selling both groceries and meats. 
Florists, nurseries, jewelry stores, liquor stores, and of­fice, store, and school supply dealers-businesses combined under the category "other retail stores"-increased their sales 6o/r in May, compared to a normal seasonal in­crease of about 4o/c . Drugstores, the single remaining category which did better than expected, repo1ted sales 6o/r higher than those for April. 
Gasoline and service stations, the only nondurable goods category which failed to improve upon seasonal indications, reported sales up 4o/c from April, instead of the average May increase of 5%. 
POSTAL RECEIPTS 

Percent change  
Apr 25, 1964­May 22, 1964 from  Apr 25, 1964­May 22, 1964 from  
'Jity  Apr 25. 1964­May 22, 1%4  Mar 28, 1964­Apr 24, 1964  Apr 27, 1963­May 24. 1963  
Alvin  10,112  + 22  + 10  
Angleton Ballinger Bellaire  8,136 4,934 45,365  + 13 + II + 18  -9 + 5 + 16  
Belton  12,981  -13  -13  
Breckenridge Carrizo Springs Carthage  6.~84 3,751 7,312  -10 + 27 + 9  -9 + 21 + 13  
Childress  6.417  + 6  - :!  
Cleveland  6.384  + 27  + 13  
Coleman  6.817  + 4  - 2  
Columbus  4,070  -16  -18  
Commerce  7,945  + 2  + 8  
Crockett  5,936  - 2  -II  
Cuero  6,836  + 11  + 4  
Dalhart  6,223  + 9  + 1  
El Campo Electra  10,182 5,895  -2 + 59  + 3 + 33  
Falfurrias  4,845  + 8  -10  
Freeport  19,9a9  + 15  + 30  
Galena_Park  6,773  - 2  
Georgetown  7,106  + 30  + 17  
Gilmer  8.214  + 47  - 4  
Gonzales  6.797  + 7  -31  
Groves  7,530  + 7  -16  
Hearne  3,926  -12  
Hillsboro  8,454  4  + 12  
Hurst  .. 10,120  -13  + 15  
Kenedy Kerrville  4,412 .. 17,627  -3 + 23  -3 + 29  
La Grange Lake Jackson  5.025 7,138  -3 + J,;  7 + 1  
Levelland  !1 ,627  -12  + 2  
Liberty Marlin  7,871 8.372  + II + 4  + 14  
Mathis  2,866  + 27  -13  
Navasota  7,388  + 19  + 25  
Perryton Pittsburg  10,016 4,595  + 10 -2  + 18 + 7  
Plano  6,090  -10  
Port  Lavaca  10,388  - 7  + 8  
Refugio  5,136  + II  + 22  
Rusk  5,455  6  -18  
Seminole  4,655  - 6  -10  
Stephenville Taft  9,147 3,369  -4 + 21  + 15  
Wharton  9,545  + 6  + 13  
Winnsboro  4,247  9  + 6  
Yoakum  . . . ... 14.218  9  + 5  

• •Change is les• than one-half of lo/c. 
JULY 1964 
TEXAS BUILDING CONSTRUCTION IN MAY by James J. Kelly 

WITH THE EXCEPTION OF THE LARGE-VOLUME CATEGORIES of churches, apartments, and office-bank buildings, per­mits issued in Texas in May declined for almost every type of building. After adjustment for seasonal factors, the index of total construction authorized in Texas was down 20% in May to 115.8% of the 1957-59 base period average. Although authorizations issued by Texas cities vary widely from month to month, the index in May was at a low point for this year, and only three times in 1963 was it lower. The adjusted index of residential con­struction in Texas was 110.4 in May, down 6% from April. Residential construction in Texas is being author­ized at a slow pace in 1964. The average of the index this year is below the annual average for 1963. Nonresidential building permits, however, have averaged thus far in 1964 above the 1963 annual average, even though the index in May was down 25 % to 126.5% of the 1957-59 base period average. 
Current authorizations issued in Texas indicate that residential construction is below the levels reached last year; construction of one-family homes is being author­ized at about the same rate as in 1963, but permits to build apartments have declined. Several categories of nonresidential authorizations in 1964 are offsetting some of this drop. Authorizations to build hotels, motels, service stations, hospitals, and churches have all shown increases. The effect of these changes has been to produce an index 
of total  construction  that averages  2%  lower  this year  
than last.  
The  value  of  total  construction  authorized  in  Texas  

in May was estimated at $122.6 million, a decrease of 20% from April. The five-month cumulative value was estimated at $681.7 million, still 2% below the value of pe1·mits estimated for the first five months of 1963. Both new construction and additions, alterations, and repairs 
showed declines in value. 
Residential building permits were estimated at $68.3 million in May, down 8% from April. In five months of 1964, the total value of residential construction author­ized amounted to $369.8 million, 1 % below the authori­zations in the first five months of 1963. This was about 60% of the total of new construction authorized in Texas 
in 1964. 
BUILDING CONSTRUCTION IN TEXAS 
INDEX-ADJUSTED FOR SEASONAL \IMIATION-1957 .1959 • 100 

NOTE: Shaded a rn.1 indicate periods of decline of total bu1ine11 1.ctivi1y in the United Stuu. 

Permits for one-family dwellings amounted in May to $50.6 million, a decline of 11o/< from the April total. Thus far in 1964, a total of $263.8 million of permits for one­family houses has been authorized, an increase of 1o/r above authorizations for homes in the same period in 1963. The construction of apartment houses in Texas was authorized for $16.5 million in May, an improvement of 5% over April authorizations. This year's value of apart­ment permits is lagging 6% behind last year. Through 
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 May Jan-May 1964 1964 May 1964 Jan-May 196' 

from from Classification (thousands of dollars) Apr 1964 Jan-May 1963 
ALL  PERMITS  $122,610  $681.663  -20  
New  construction  109,822  609,170  -16  
Residential  
(housekeeping)  68,309  369,799  - 8  
One-family  dwellings  50,593  263,807  -11  +  
Multiple-family  
dwellings  17,716  105,992  + 2  
Nonresidential  buildings  41 ,513  239,371  -26  
Nonhousekeeping build­ 
ings  (residential)  3, 127  16,815  -37  + 93  
Amusement  
buildings  290  10,604  -88  -64  
Churches  5,487  18,311  + 23  + 88  
Industrial  buildings  3,554  24,374  -24  + 16  
GarageJ (commercial  
and private) Service stations  609 1.196  3,078 6,928  -19 -9  -16 + 28  
Hospitals and institutions  2,736  27,570  -67  + 39  
Office-bank buildings .  6,575  27,665  + 24  -38  
Works and utilities  355  3,890  -42  -62  
Educational  buildings .  6,457  42,397  -20  -26  
Stores and mercantile  
buildings  9, 586  49,659  -81  + 64  
Other buildings and  
structures  1,53!1  8,080  + 53  +  
Additions, alterations, and  
repairs  12, 788  72,493  -45  
METROPOLITAN  vs.  
NONMETROPOLITANt  
Total metropolitan Central cities  101,982 76,202  571,730 443,986  -22 8  + (  
Outside central cities . Total nonmetropolitan  26,780 20,628  127,745 109,933  8  + 4 + 19  
10,000 to 50,000  
population  10,996  59,757  + 11  
Less than 10,000 population  9,632  50,176  6  + so  

t As defined in 1960 Census. 
TEXAS BUSINESS REVIEW 
INDEX OF RESIDENTIAL 
INDEX OF NO RESIDENTIAL 

CONSTRUCTION AUTHORIZED BUILDING AUTHO RIZED 


NOTE: Shaded aru.1 indicue period• of decline or total bu1ine111.cliYity in the United St:iotea. 

May, apartment authorizations had totaled $97.6 million compared with a total of $103.8 million through May 1963. 
While the value of residential construction authorized for the state was down slightly thus far in 1964, this was by no means true of all the cities in the state. In the comparison of the fhst five months of 1963 and 1964, Corpus Christi, El Paso, and San Antonio showed improvement in authorizations for both one-family and apartment buildings. Beaumont-Port Arthur-Orange, Brownsville-Harlingen-San Benito, Fort Worth, Lubbock, and Midland showed gains in permits for apartment build­ing but decreases in one-family building permits. Those metropolitan areas showing gains in permits for one­family homes but losses in apartment authorizations were Austin, Dallas, Galveston, Laredo, Odessa, Tyler, and Waco. Significantly, there were 6 areas which recorded decreases in both categories-Amarillo, Abilene, Houston, San Angelo, Texarkana, and Wichita Falls. 
In sum, building permits for residential construction in Texas in the five months of 1964 compared with the same period in 1963 have declined in the metropolitan areas in both value and number of units. At the same time, there has been an improvement in the value and number of units of residential authorizations in those cities outside the metropolitan areas. The net effect for the state total has been a decline of 2% in valuations and a decline of 8o/r in number of units in the five-month comparison. 
Nonresidential building permits were estimated at $41.5 million in Texas in May, a decrease of 26% from April valuations. In the five months of 1964, total valuation of nonresidential construction permits declined to $239.4 million. This was approximately 40% of the total valu­ation of new construction in Texas this year. 
In 1964, the largest category of permits of the non­residential types of building has been stores and mercan­tile buildings, which includes authorizations to build shop­ping centers. Although there was a decline in 'May in the value of permits for this type of building, the five-month total rose to $49.7 million, up 64% above the five-month total in 1963. 
Other types of building showing improvement in the value of building permits issued this year were hotels and motels, hospitals, industrial buildings, and churches. Declines were recorded in the five months of 1964 in the value of permits for schools, office-bank buildings, and amusement buildings when compared to the first five months of 1963. 
NOTE: Shaded 1ru1 1ndicate per1od1 of decline of 1oul bu11n.,11 a r t1v1ty in the United Su te1 

Hospital building permits in Texas declined 67 % in May from April valuations. In May the value of building permits for hospitals was $2.7 million. For the first five months of 1964, total value of permits rose 39% over the value for the first five months of 1963 to $27.6 million. 
The value of industrial buildings authorized also in­creased in the 1964 five-month cumulation. Although there was a decline of 24% in May to $3.6 million, in the five months of this year total valuations for industrial build­ings increased 14% to $24.4 million, well above the $21.4 million of pe1mits authorized in the same five months of 1963. The value of permits issued for the construction of industrial buildings is much less than the total value of industrial construction in the state since a large number of industrial plants are built outside the juris­diction of permit-issuing agencies. 
The construction of churches continues to be authorized at an increased rate. In May building permits were issued for $5.5 million of church construction, an increase of 23% above the value for April. In the first five months of 1964, church permit valuations increased to $18.3 million, up 38% over the value of permits in the first five months of 1963. 
Hotels, motels, and tourist courts declined in permit authorizations by 38% in May to a total value of $3.1 million. The total for 1964, however, now stands at $16.7 million, almost twice the permit valuations issued for the first five months in 1963. This trend is supported by the expansion this year in permits to build service sta­tions and repair garages. Thus far in 1964, $6.9 million of construction has been authorized in this category, an increase of 28% above the value of permits issued in the same five months of 1963. The present high sales of automobiles, the construction of the Interstate Highway System, and the anticipated increase in tourism indicate that building permits for hotels, motels, service stations, and garages will probably continue to show steady gains. 
The rush to build schools in Texas is abating at least for the moment. Although it is still the second largest category in value of permits issued for nonresidential buildings, educational buildings declined in valuations to a five-month total of $42.4 million, down 26% from the 1963 five-month figure. 
Permits issued for the construction of office-bank build­ings have declined, too. Even though there was a 24% rise in May, with $6.6 million of permits authorized, the total for five months of 1964 declined to $27.7 million, down 38% from the comparable 1963 period. 
JULY 1964 167 



LOCAL BUSINESS CONDITIONS 

Percent change Percent change 
May 1964 Mity 1964 May 1964 May 1964 May from frQm May from f1"1>m City and item 1964 Apr 1964 May 1963 City and item 1964 Apr 1964 May 1968 
ABILENE AMARILLO 
Standard Metropolitan Statistical Area Standard Metropolitan Statistical Area 
(pop. 126,9901; Jones and Taylor2) (pop. 166,6161; Potter and Randall~) 

ABILENE (pop. 90,368) AMARILLO (pop. 155,205r) Retail sales 
+ st + G + 6 Retail sales + St + 8 + Apparel stores 5t + 10 + 2S Apparel stores st + + 6
···· ···· ··· 

Automotive stores . 
-17 -8 Automotive stores •• s + 8 Drug stores 
+ st + 4 + 4 Drug stores + st s 2 Eating and drinking places. 
+ St + 11 + 12 Eating and drinking places . + St + 20 + 19 
Food stores 

+ 2t + 11 + Furniture and household 
Furniture and household 

appliance stores + 19t -4 -s appliance stores 
+ 
19t 6 14 General merchandise stores + 4t + 27 •• General merrhandise stores 

+ 
4t + 9 + 12 Lumber building material,Postal receipts* $ 131.078 


+ + 3 and hardware stores + 4t + SI + 14 Building permits, less federal contracts $ 820.S70 -39 -30 3 1
Postal receipts" 242,007 -­
Bunk debits (thousands) . . ... . ...$ 107,824 + 2 Building permits, less federal contracts $ 3.803.493 + 12 -14 End-of-month deposits (thousands) t. $ 63,924 2
+ 11 Bank debits (thousands) .. .$ 303,SSO -2 + 29 Annual rRte of deposit turnover . 20.4 7
-3 + 17 End-of-month deposits (thousands) t. $ 124,444 -3 + Nonfarm employment (area) . ¢>.'<

36.000 2 Annual rate of deposit turnover . 28.8 •• + 21 
Manufacturing employment (area) 4.370 I
+ + Nonfarm employment (area) . 54,800 + I + 
Percent unemployed (area) 

4.8 -8 17 Manufacturing employment (area) 6.410 •• + 7 
Percent unemployed (area). 2.8 -18 7 ALICE (pop. 20,861) 
Retail sales 

+ Gt + s + 2S CANYON (pop. 5,864)


Drug stores 

······· ······ + 5t + 11 + Postal receipts• ' . .$ 6,477 -16 + 12 
Lumber building material. 

Building permits. less federal contracts $ 70,700 -59 -66 
and hardware stores 

+ 4t ** -20 Bank debits (thousands) . .. ...... .$ 6,231 -21 -6 

Postal receipts.I) 
18,695 

+ -6 End-of-month deposits (thousands)t . .$ 6,226 -8 •• 
Building permits, less federal contracts 

56,431 -s -SS Annual rate of deposit turnover . 11.S -15 -6 
ALPINE (pop. 4,740) 

ANDREWS (pop. 11,135)
Postal receipts" ... . 

.$ 6,473 + 12 + 23 Postal receipts• ........ .$ 8,214 -11 -2 

Building permits, less feder~l c~ntra~t~ $ 

23,SOO -34 +110 Building permits. less federal contracts $ 42,550 -39 -4 
Bank debits (thousands) . 

.. .$ 3,127 1 -10
+ + 3 Bank debits (thousands) . .. ...$ S,SlS s 
End-of-month deposits (thousands) t. $ 

3,744 8 s
+ 3 End-of-month deposits (thousands) t .. $ 6,894 1 
Annual rate of deposit turnover . 


9.6 + 3 Annual rate of deposit turnover . 9.5 2 -9 
168 
TEXAS BUSINESS REVIEW 
Indicators of business conditions in Texas cities pub­lished in this table include retail trade, postal receipts, building permits, banking, and employment. City infor­mation is published when a minimum of three indicators is available. 
The cities have been grouped according to Standard Metropolitan Statistical Areas. In Texas all 21 SMSA's a1·e defined by county lines and, for this reason, the counties are listed under the major heading for the area.2 The population shown for the SMSA's are estimates for April 1, 1963,1 prepared by the Population Research Cen­ter, Department of Sociology, The University of Texas. The cities within the counties are listed with the appro­priate SMSA; all othe1· cities are listed alphabetically. The population shown afte1· the city name is the 1960 Census figure with the exception of those marked (r), which are estimates officially recognized by the Texas Highway Department. 
Retail sales data are reported in this tabulation only when three or more stores report for the category. The first column contains an average percent change from the preceding month marked by a dagger (t). This is the normal seasonal change in sales by that kind of busi­ness. The second column shows the percent change in actual sales reported for the month. The third column shows the change in sales from the same month of the preceding year. A large variation between the normal seasonal change and the reported change indicat.es an abnormal month. Waco retail sales information is re­ported in cooperation with the Baylor Bureau of Busi­ness Research. 

Postal receipts information which is marked by an asterisk (*) indicates cash received during the four-week postal accounting period ended May 22, 1964. 
End-of-month deposits as reported represent money on deposit in individual demand deposit accounts on the last day of the month and are indicated by the symbol m. 
Figures under Texarkana with the following symbol (§) are for Texarkana, Texas, only. Changes of less than one-half of 1o/c are marked with a double asterisk (**). 
Percent change 	Percent change
Loeal Business Conditions 	Local Business Conditions 
May 1964 May 1964 May 1964 May 1964 May from from May from from City and item 1964 Apr 1964 May 1963 City and item 1964 Apr 1964 May 1963 
ARANSAS PASS (pop. 6,956) 	NEDERLAND (pop. 12,036) Postal receipts• $ 8,848 
PoStal receipts• ......... . .....$ 4,498 -14 -8 + 9 + Bank debits (thousands) $
Building permits, less federal contracts $ 76,480 +333 -41 S,799 -23 + 7 End-of-month deposits (thousands>: . $ 4,8S4 +SS
Bank debits (thousands) . . .... .$ 4,092 -14 -23 + 
End-of-month deposits (thousands) i . .$ 5,025 -4 -15 -13

Annual rate of deposit turnover. 14.4 -23 
Annual rate of deposit turnover . 9.6 -12 -9 ORANGE (pop. 25,605) ARLINGTON: see FORT WORTH SMSA Postal receipts• ... . S 29,337 + 11 .. Building permits, less federal contracts $ 320,196 + 80 +147 Bank debits (thousands) . . $ 30,S63 s -5
ATHENS (pop. 7,086) 
End-of-month deposits (thousands) i . .$ 23.990 8 ••
Postal receipts• .. $ 11.283 + 1 + 4 
Annual rate of deposit turnover . 14.7 3 s 
Building permits, less federal contracts $ 62,400 -83 89 

Nonfarm employment (area) . 114,200 + 7 
Bank debits (thousands) . . . . ..... . $ 11,643 + 5 + 16 Manufacturing employment (area) . 3S,S40 + •• 2 ••
End-of-month deposits (thousands) i . .$ 10,752 •• + 13 Percent unemployed (area) . 

S.2 •• -32 Annual rate of deposit turnover . 13.0 + 4 

Nonfarm placements 	221 + 85
+ 
AUSTIN 

PORT ARTHUR (pop. 66,676) Standard Metropolitan Statistical Area Retail sales + 6t + 15 + • (pop. 234,39!1; Travis2) Furniture and household appliance stores + 19t + 5 + 8AUSTIN (pop. 186,545) Postal receipts• S S2,349 17 + 9 
Retail sales 	+ 6t + + 4 Building permits, less federal contracts S 230,444 1 -25 
Apparel stores ... ........ .. ...... . 5t + 6 + 6 Bank debits (thousands) . . ....$ 68,208 + 7 
Automotive stores . .... ... ... . •• + 4 + 20 End-of-month deposits (thousands>: . . $ 41,780 4 

Drug stores . . . . .... ..... . + St + 3 -2 

Annual rate of deposit turnover . 19.2 + 8 + 3 Eating and drinking places . + st + 9 -14 
Nonfarm employment (area) . 114,200 + 2 + 7 Furniture and household Manufacturing employment (area) . 3S,S40 .. •• appliance stores Percent unemployed (area) . S.2 •• -32
+ 19t + 18 + 9 
Lumber, 	building material, 
and hardware stores + 4t + 2 + 2 

PORT NECHES (pop. 8,696)
Postal receipts• 	$ S41,187 + 10 + 9 Postal receipts• .. . S 8,727 + s + 2S Building permits, less federal contracts $ 4,604,3S7 -34 lS Building permits, less federal contracts $ 71,122 -43 -78 Bank debits (thousands) . . . . . $ 342,046 + 8 + 1 Bank debits (thousands) . $ 8,211 -3S + s End-of-month deposits (thousands) i . .$ 163,077 13 + 7 
End-of-month deposits (thousands) i $ 7,306 + s + 37 Annual rate of deposit turnover. 23.S + 14 
Annual rate of deposit turnover . 13.9 -41 -19 

Nonfarm employment (area) . 91,100 •• + s Manufacturing employment (area) . 6,170 + 1 + 5 Percent unemployed (area) . 2.6 + 8 7 BEEVILLE (pop. 13,811) Retail sales BAY CITY (pop. 11,656) Food stores + 2t + 11 -2 Postal receipts• $ 13,392 + 16 + 5
Retail sales 	+ St 2 + 11 
Building permits, less federal contracts $ 97,1S4 +183 + S5
Pootal receipts• . . $ 14,239 3 + 9 B•.nk debits (thousands) . .$ 10,2S2 3 -12
Bank debits (thousands) $ 1S,S66 3 + 2 End-of-month deposits (thousands) i . .S 14,838 + 2 + 7End-of-month deposits (thousands) i . .$ 23,978 + 12 Annual rate of deposit turnover. 8.4 3 -lS
Annual rate of deposit turnover . 7.7 •• -8 
Nonfarm placements 	139 + + 
BAYTOWN: see HOUSTON SMSA 
BIG SPRING (pop. 31,230) 
Retail sales + St + 2 -4

BEAUMONT-PORT ARTHUR 
Automotive stores •• + -4 Drug stores + st -10
Standard Metropolitan Statistical Area 
Lumber, building material,
(pop. 318,0541; Jefferson and Orange2) 
and hardware stores . + 4t -10 -6 Postal receipts• .$ 31,902 + 2 -21
BEAUMONT (pop. 119,175) 
Building permits, less federal contracts $ 137,8SO -S2 -79 
Retail sales 	+ St + 11 + 4 Bank debits (thousands) . . . $ 35,274 8 -18 
Apparel stores . . 	5t + 18 + 10 End-of-month deposits (thousands) i .$ 22,804 3 -9 
Automotive stores .......... ...... . •• + 10 + 8 

Annual rate of deposit turnover . 18.3 8 

Eating and drinking places . + st + 15 + 3 	209 7 + 14
Nonfarm placementsFurniture and household 

appliance stores . . . + 19t + 53 s 
General merchandise stores . + 4t + 18 •• BISHOP: see CORPUS CHRISTI SMSA 
Lumber, building material, 

and hardware stores + 4t -8 -4 
Postal receipts• $ 140,406 -3 + 1 


BONHAM (pop. 7,357) 
Building permits, less federal contracts $ 983,609 + 25 -31 Retail sales 

.. 

Bank debits (thousands) . . . . . . . .. .$ 208,648 9 + 4 Automotive stores + 12 + 74 End-of-month deposits (thousands) i . .$ 102,85S •• Postal receipts• .. $ 7,35S + 10 •• Annual rate of deposit turnover . 23.8 6 + 3 Building permits, less federal contracts $ 100,000 S9 +103 7,718 7
Nonfarm employment (area) . 114,200 + 2 + '1 Bank debits (thousands) . .$ Manufacturing employment (area) . 3S,540 •• •• End-of-month deposits (thousands ) i . .$ 7,679 + Percent unemployed (area) . 5.2 *" -32 Annual rate of deposit turnover . 12.0 2 10 
JULY 1964 
Percent change Percent change

Local Business Conditions 	Local Business Conditions 
May 19S4 May 1964 May 1964 May 1964

May from from 	May from from 
City and item 19S4 Apr 1964 May 1963 	City and item 1964 Apr 1964 May 1968 
BORGER (pep. 20,911) 	PORT ISABEL (pop. 3,575) 
Postal receipts• .$ 23,581 + 37 + 15 Postal receipts• . .. .$ 2,030 -2 -8 Building permits, Jess federal contracts $ 187,250 -60 -9 Building permits, less federal contracts $ 3,160 
-28 Nonfarm placements 151 + 39 -11 Bank debits (thousands) . . .. . ... .$ 1,478 + 6 + 18 End-of-month deposits (thousands) i. $ 1,203 + ­
4 9BRADY (pop. 5,338) Annual rate of deposit turnover . 15.0 + 7 + 21 Postal receipts* $ 5,117 + 2 Building permits, less federal contracts $ 81,115 -25 4 SAN BENITO (pop. 16,422) Bank debits (thousands) .............$ 5,815 7 + 9 Retail sales End-of-month deposits (thousands) t $ 7,366 + 4 •• Automotive stores •• •• 
·-20

Annual rate of deposit turnover. 9.7 8 + 11 	Postal receipts• $ S,988 -4 -18 Building permits, less federal contracts $ 12,400 + 20 -41
BRENHAM (pop. 7,740) 

Bank debits (thousands) .. .. . ... .$ 5,142 9 8
Retail sales 

End-of-month deposits (thousands) t. $ 5,243 
General merchandise + + 12 + Annual

stores 4t rate of deposit turnover. 11.5 6 7Postal receipts• .. $ 9,955 + 25 + 15 
Nonfarm employment (area) . 35,250 
+ + 1
Building permits, Jess federal contracts $ 178,094 +221 + 13 
Manufacturing employment (area) 5,050 + 
4Bank debits (thousands) . .$ 12,725 + 10 + 10 

Percent unemployed (area) . 6.6 -12 End-of-month deposits (thousands) t .. $ 12,977 •• •• 
Annual rate of deposit turnover . 11.8 + 12 + 15 
BROWNWOOD (pop. 16,974) 

Nonfarm placements . 49 -4 + 2 Retail sales + Gt + 1 +u 
BROWNFIELD (pop. 10,286) Apparel stores -st + 16 + 6 Postal receipts• $ Postal receipts• .......... .$ 30,774 -s -2
12,444 + 8 + 10 Building permits, less federal contracts $ 59,950 5 -69 Building permits, less federal contracts $ 34,945 + 10 -92 Bank debits (thousands) $ 17,509 7 Bank debits (thousands) . . ... . ...$ 18,37S •• + 7
+ 

End-of-month deposits (thousands) t .. $ 13,671 10 End-of-month deposits (thousands) i . .$ 13,084 + -1 Annual rate of deposit turnover. 14.5 + 2 Annual rate of deposit turnover. lS.9 + + 7
+ 

Nonfa.rm placements 	127 6 + 26 
BROWNSVILLE-HARLINGEN-SAN BENITO BRYAN (pop. 27,542) 

Standard Metropolitan Statistical Area Retail sales + St -1 -6 (pop. 146,2071 ; Cameron2) Apparel stores •• -3 -14 Postal receipts ......... . . . . . . $ 28,147 -13 + 16
BROWNSVILLE (pop. 48,040) 

Nonfarm placements 	289 -12 + 22
RetaiI sales Automotive stores •• + 13 + 19 

CALDWELL (pop. 2,204) 
Postal receipts• 	.$ 32,747 
-1 + s 

Postal receipts• 	$ 2,826 3
Building permits, less federal contracts $ 508,006 +1so +244 Bank debits (thousands) . . . . $ 29,898 Bank debits (thousands) . .$ 2,423 3 + 6
8 

End-of-month deposits (thousands) i. $ 	End-of-month deposits (thousands) t .. $ 3,992 + 5 + 9
19,002 2 5 Annual rate of deposit turnover. 18.7 4 2 

Annual rate of deposit turnover . 7.5 3 + 1
+ 
Nonfarm employment (area) . 35,250 + + 

Manufacturing employment (area) . 5,050 + 1 4 1 7 CAMERON (pop. 5,640) Percent unemployed (area) . 6.5 12 2 Postal receipts• .. .....$ 6,592 -42 -2 Nonfarm placements S23 Building permits, less federal contracts $ 4,897 -~l + 88
+ 35 +132 

Bank debits (thousands) . . ... .$ 5,214 + 13 + IS HARLINGEN (pop. 41,207) End-of-month deposits (thousands) i. $ 5,133 + + 9 Retail sales + St + 19 + 10 Annual rate of deposit turnover. 12.3 + 12 + 6 
Gasoline and service stations. 
+ 5t + 9 8 
Lumber, building material, 

CANYON: see AMARILLO SMSA 
and hardware stores . 
+ 4t + + 4 
Postal receipts• .......$ 


35,472 + 1 + 1 CARROLLTON: see DALLAS SMSA 
Building permits, Jess federal contracts $ 73,800 -84 -2S Bank debits (thousands) . . ..... .... .$ 3S,S71 + 3 

+ 5 CISCO (pop. 4,499) 
End-of-month deposits (thousands) t. $ 23.321 + 18 + 20 

Postal receipts• 	$ 5,5S7 + 44 + 17Annual rate of deposit turnover. 20.4 3 Nonfarm employmont (area) . 
Bank debits (thousands) . $ 3,802 -1
35,250 
+ + 1 

End-of-month deposits (thousands)t . $ 3,271 2 -10
Manufacturing employment (area) 

5,050 Pereent unemployed (area) . + 7 rate of deposit turnover. + 2 + 12
Annual 	13.8
6.5 12 2Nonfarm placements 
SlS + 52 + 27 

CLEBURNE: see FORT WORTH SMSA LA FERIA (pop. 3,047) Postal receipts• . ...$ CLUTE (pop. 4,501) 
2,355 + 14 
+

Building permits, Jess federal contracts $ 300 -98 -80 Postal receipts• . . . . . . . . . . . .$ 2,128 -2 -6 Bank debits (thousands) . . ...$ 
1,553 •• Building permits, Jess federal contracts $ 	26,015 -38 -86
+ s

End-of-month deposits (thousandsJi .. $ 1,448 8 	Bank debits (thousands) . . ....$ 2,147 + 10 + 16
+ 15
Annual rate of deposit turnover. 

12.3 	+ 3 10 End-of-month deposits (thousands) i . .$ 1,411 -s + s Annual rate of deposit turnover. 17.7 + 13 + 9
LOS FRESNOS (pop. 1,289) 
Postal receipts• . . . . . . . . . . . . . . . .$ 

1,343 + 19 -10 COLLEGE STATION (pop. 11,396) 
Building permits, less federal contra~~~ $ 
1,400 

-87 Postal receipts• ..$ 22,365 + 23 + 8 Bank debits (thousands) ...... . . . ... .$ 
l,S35 + 20 + 16 Bank debits (thousands) ... . .. .·$ 	6,257 + 2 + 47 End-of-month deposits (thousandsJi. $ 
1,466 -9 + 12 End-of-month deposits (thousandsJi .. $ 	3,732 1 + 21 Annual rate of deposit turnover. 
12.8 + 21 -4 	Annual rate of deposit turnover . 20.0 + 8 + 20 
170 TEXAS BUSINESS REVIEW 

Local Business Conditions  Percent change  
City and item  May 1964  May 1964 from Apr 1964  May 1964 from May 1963  

Percent change

Local Business Conditions 
May 1964 May 1964 May from from City and item 1964 Apr 1964 May 1963 
DALLAS 
Standard Metropolitan Statistical Area 
(pop. 1,195,1991; Collin, Dallas, Denton, and 


CARROLLTON (pop. 4,242) Postal receipts• 8,030 + 9 + 39 Building permits, less federal contracts S 1.555.600 + 370 +204 Bank debits (thousands) . . ... $ 5,813 3 16 End-of-month deposits (thousands) t 3.405 + 6 l Annual rate of deposit turnover. 21.1 2 5 
DALLAS (pop. 679,684) 
Retail sales + 5t + 8 + 4 Apparel stores 4t 4 + 2 Automotive stores + 1ot + 2 + 16 Florists + 5t + 43 + 17 
Furniture and household 
appliance stores + 7t + 8 .. Gasoline and service stations . + 7t + 6 + 2 General merchandise stores + 5t + 30 + 12 Lumber, building material. 
and hardware stores + 4t 9 9 Office, store, and school 

supply dealers + 9t + 2 Postal receipts• . . .. .$ 3,161.095 5 + 13 Building permits, less federal contracts $17,074,646 -40 -22 Bank debits (thousands) . . S 3.808,200 + 2 + 3 End-of-month deposits (thousands) t .. $ 1.317,757 -I + 4 Annual rate of deposit turnover . 34.4 l Nonfarm employment (area) . 505,700 + .. .. + 4 
Manufacturing employment (area) . 113,190 + 6
..

Percent unemployed (area) .. 3.1 9 
DENTON (pop. 26,844)  
Retail sales  + 6t  -12  + 11  
Drug stores  + 5t  + 5  + l  
Postal receipts• , . .  . S  42,584  
Building permits, less federal contracts $ 1.151.950 Bank debits (thousands) . . . . S 27,367  +228 -11  -47 + 5  
End-of-month deposits (thousands) t . . $ Annual rate of deposit turnover . Nonfarm placements  21,801 13.2 209  -22 + 1 + 33  -17 + IS + 33  

ENNIS (pop. 9,347)  
Retail sales Apparel stores Postal receipts• .... . S Building permits, less federal contracts S Bank debits (thousands) . . .$ End-of-month deposits (thousands) i . S  -st 10,903 320,100 6,592 6,914  + 38 -26 + 66 -1 -2  + 28 + 5 +634 •• ••  
Annual rate of deposit turnover .  11.3  - 1  

GARLAND (pop. 38,501) 
Retail sales + St + 22 

+ 	" 
Apparel stores 	5t + 46 + 17 
Automotive stores 
.. + 29 + 6 Postal receipts• ....$ 46,188 -4 + 16 Building permits, less federal contracts $ 820,759 -59 -50 Bank debits (thousands) . . . $ 36,542 + 9 + 18 End-of-month deposits (thousands) t. $ 17,108 2 + 17 Annual rate of deposit turnover . . 25.3 + 11 + 4 Nonfarm employment (area) . 505,700 •• + 4
..
Manufacturing employment (area) . 113,190 + 6 Percent unemployed (area) .. ••
3.1 9 
GRAND PRAIRIE (pop. 30,386) Postal receipts• . . $ 29,531 + 5 + 24 Building permits, less federal contracts $ 921,362 + 40 +135 Bank debits (thousands) . . . $ 18.580 
2 5 
End-of-month deposits (thousandsH . $ 11,261 -3 + 3 Annual rate of deposit turnover . 

19.5 + 2 10 
Nonfarm employment (area) . 505.700 •• + 4 Manufacturing employment (area) . 113.190 .. + 6 
93.1 ..
Percent unemployed (area) . 

COLORADO CITY (pop. 6,457) Retail sales 
Lumber, building material, 

and hardware stores Postal receipts• .. $ Bank debits (thousands) $ 
End-of-month deposits (thousands) t. $ Annual rate of deposit turnover. 
COPPERAS COVE (pop. 4,567)  
Postal receipts• .... . $  5,292  + 26  + 44  
Building permits, less federal contracts $  50,975  - 68  - 80  
Bank debits (thousands) . . . $  1,522  - 9  - 10  
End-of-month deposits (thousands) t .. $  1,404  - 26  + 31  
Annual rate of deposit turnover .  11.1  - 3  - 28  
CORPUS CHRISTI  
Standard Metropolitan Statistical Area  
(pop. 223,060t; Nueces2)  
BISHOP (pop. 3,722)  
Postal receipts• .. .. $  3,231  + 47  + 47  
Bank debits (thousands) . $  1.812  9  - 1  
End-of-month deposits (thousands) t . $  1,994  13  
Annual rate of deposit turnover. . .  10.6  5  + 13  

CORPUS CHRISTI (pop. 184,163r) 
+ 	4t 
5,347 3,928 5,902 
7.8 

Retail sales 
Automotive stores 
Drug stores 
Food 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 . Nonfarm employment (area) . 
Manufacturing employment (area) . Percent unemployed (area) . 
+ 	6t 
+ 	
5t 

+ 	
2t 


+ 	4t 
207,676 
1,648,519 212,157 116,031 
21.8 
70,100 8,760 
3.8 
ROBSTOWN (pop. 10,266) Retail sales 
Automotive 1tores ............... . . Postal receipts• .. $ Building permits, less federal contracts $ Bank debits (thousands) . .$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover . 
- 19  
9  
- 10  
5  
- 4  

+ 
10 

+ 
10 

+ 
15 

+ 
13 

+ 
10 


+ 	6 
-	37 8 1 7 
+ + 
3 -36 -17 -17 
-17 
+ 
12 

+ 
14 


+ 5 
+ 
5 

+ 
6 


·-11 
.. 

+ 2 -1 -21 
FLOUR BLUFF (pop. 9,332) Bank debits (thousands) . .$ 2,437 -39 End-of-month deposits (thousands)t.. $ 2,031 7 + 14 Annual rate of deposit turnover..... . 13.9 + 2 -46 
+ 	8 
-36 -19 -11 -10 
CORSICANA (pop. 20,344) Retail sales 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 . Nonfarm placements .... . 
CRYSTAL CITY (pop. 9,101) Postal receipts• . . . ... .. .. .. ..... . . $ Building permits, less federal contracts $ Bank debits (thousands) . . . . . S End-of-month deposits (thousands)t..$ Annual rate of deposit turnover..... . 
JULY 1964 
7,367 25,685 9,678 8,459 
14.0 
+ 
St 

+ 
4t 


21 ,119 129,240 17,992 20,717 
10.4 303 
3,585 22,090 2.771 2,469 
18.0 
-8 -21 -66 4 
+ 	4 
4 
+ 
16 

+ 	
8 


-71 3 
-	1 
-	2 
+ 52 
- 2  
- 43  
8  
7  
4  

-	3 
+ 
10 

+ 
92 


+ 	
4 

+ 
6 + 

+ 
7 

+ 
2 

+ 
6 


+ 25 
2 
+ 3 
-6 
+ 50 
Percent change Percent change

Local Business Conditions 	Local Business Conditions 
May 1964 May 1964 May 1964 May j 964 May May from from
from from City and item 1964 Apr 1964 May 1963 City and item 1964 Ap_r 1964 May 1963 
IRVING (pup. 45,985) 	DEL RIO (pop. 18,612) 
Postal receipts"' . $ S5,0S5 + 41 + 18 Retail sales 
Building permits, less federal contracts $ l,844,994 54 21 Lumber, building material, 
Bank debits (thousands) $ 34,246 + + 20 and hardware stores + 4t + 24 + 1 
End-of-month deposits (thousands) i. $ 18,527 + + 29 Postal receipts• ... .......... ........$ 16,746 + 17 

+ 6 
Annual rate of deposit turnover . 22.8 2 -3 Building permits, less federal contracts $ 79,381 -47 

-76 B1rnk debits (thousands) . . ... .. $ 12,468 
+ 2 End-of-month deposits (thousands) t .. $ 16,037

JUSTIN (pop. 622) 	2 + 
Annual rate of deposit turnover . 9.9 

Postal receipts• $ S76 2 -l S + 
Bnnk debits (thousands) . .$ 1.272 + 2 -23 
End-of-month deposits (thousands)t . $ 8S2 + 4 + 3 DENISON (pop. 22,748) 
Annual rate of deposit turnover. 18.3 + 2 -27 Retail sales 

Apparel stores 	-st + 9 
·•• 
Automotive stores ........... . •• 10 
Postal receipts• ....... .$ 21,883 5 


McKINNEY (pop. 13,763) 	--4 
Retail sales 	--1 
Building permits, less federal contracts $ 294,289

Food stores + + 13 + 7 	+ 75 -2' 
Bank debits 	(thousands) . . . .. .$ 17,376

Postal receipts• .$ 13,902 + 3 + 10 2 
End-of-month deposits (thousands) t. $

Building permits, less federal contracts $ 302.620 +243 +267 lS,136 + 2 + 2 
Annual rate of deposit turnover.

Bnnk debits (thousands) .$ 9,880 -10 4 13.9 6 -2 
Nonfarm placements

End-of-month deposits (thousands) i. $ 9,438 4 + 4 208 + 22 
AnnuRI rate of deposit turnover . 12.3 8 8 
Nonf::i.rm plRccments 1S4 + 10 + 34 DENTON: see DALLAS SMSA 

MESQUITE (pop. 27,526) DONNA (pop. 7,522) 
Retail sales Postal receipts• ... ... .$ 3,464 8

-	•• 

Eating and drinking places . + St + 26 + 20 Building permits, less federal contracts $ 300 99 -95
-
Postal receipts• ...... .$ 16,019 + 8 + 13 Bf\nk debits (thousands) . . ...$ 2,674 2 1 
Building permits, less federal contracts $ l,1S8,039 +108 + 91 End-of-month deposits (thousandslt.. $ 3,369 

+ 

B1mk debits (thousands) . . .. $ 8,S97 8 + 13 Annual rate of deposit turnover. 9.2 + + 
End-of-month deposits (thousands)t . $ 6,620 -6 + 17 
Annual rate of deposit turnover . lS. l 2 DUMAS: (pop. 8,477) 
Nonfarm employment (area). 505,700 •• + 4 Postal receipts• 7,999

.... .$ 
+ 11 -	1 

Manufacturing employment (area) 113,190 •• + 6 Building permits, less federal contracts $ 306,925 + 34 +229 Percent unemployed (area) . 3.1 
•• 9 Bank debits (thousands) ............ .$ 8,294 -16 + IS 

End-of-month deposits (thousands) t . $ 8,521 -13 -s MIDLOTHIAN (pop. 1,521) Annual rate of deposit turnover . 10.9 -9 + 10 Building permits, less federal contracts $ 1,100 -98 
-3S Bank debits (thousands) . $ 931 -14 -28 EAGLE PASS (pop. 12,094) End-of-month deposits (thousands) t . $ 1,307 2 -20 Retail sales Annual rate of deposit turnover. 8.S 
-11 -8 Gasoline and service stations . + Gt + 9 + 14 
Postal receipts• .................... .$ 8,548 + 8 + 18 PILOT POINT (pop. 1,254) Building permits, less federal contracts $ 102,243 + 22 +216 Bank debits (thousands) . . ... .. $ l,070 Bank debits (thousands) .. ..... ...... $ 6,773 2
•• -8 	+ 
End-of-month deposits (thousands) t .. $ l,S73 	End-of-month deposits (thousands) t. $ 4,306 +
4 •• 

Annual rate of deposit turnover . 8.0 	Annual rate of deposit turnover. 16.8
+ -7 	+ 
RICHARDSON (pop. 16,810) 	EDINBURG (pop. 18,706) 
Postal receipts$ . . . . . . . . .$ Postal receipts• ......... $ 12,444 -4 -8 Building permits, less federal contra~~ $ Building permits, less federal contracts $ 27,500 -69 -26 
43,885 + 11 + 11 
l,S66,910 2S ­
-12 

Bank debits (thousands) . . . . . . ....$ 22.981i •• 27 Bank debits (thousands) ............ .$ 13,390 -12 8 End-of-month deposits (thousands) t . . $ 10,629 •• + + End-of-month deposits (thousands) t $ 8,894 -s + 4 
Annual rate of deposit turnover . 	Annual rate of deposit turnover . 17.8 4 s Nonfarm placements 275 + 34 


26.0 -	2 + 18 ­
SEAGOVILLE (pop. 3,745) 
Postal receipts$ . . . . . . . . .$ 4,244 EDNA (pop. 5,038) 

+ 26 -3 60,227 13 + 36

Building permits, less federai ~~~-t~~~~~ $ Postal receipts• $ 5,589 + 16 + 17 Bnnk debits (thousands) . . .$ Building permits, less federal contracts $ 27,260 -86 + 86
3,336 
+ + 	20 

End-of-month deposits (thous~~d~l i $ l,82S + 21 Bnnk debits (thousands) . . .. ..... . $ 4,811 8 -60 Annual rate of deposit turnover . + End-of-month deposits (thousands) t .. $ 6,276 + 10
22.0 
+ + 4 

Annual rate of deposit turnover. 9.2 -53 
WAXAHACHIE (pop. 12,749) Retail sales 

ENNIS: see DALLAS SMSA 
Lumber, building material, 
hardware stores EULESS: see FORT WORTH SMSA

+ 4t + 6 + 33Postal receipts• . . . . . .$ 
20,172 -27 -24Building permits, less federal co~~~~~~~ s 

FLOUR BLUFF: see CORPUS CHRISTI SMSA
707,105 	+411 
+1s1
Bank debits 	(thousands) . . . . . . . . . s 11,187 •• 4
+

End-of-month deposits (thousands) t . $ 	FORT STOCKTON (pop. 6,373) 
9,807 -6 2
+

Annual rate of deposit turnover 	Postal receipts• .$ 6,344 -1 +u
13.3 + 	1 
**

Nonfarm placements . 	Building permits, less federal contracts $ 92,200 + 38 +262
62 + 68 

+ 	4 Bnnk debits (thousands) . .$ 6,896 + 2 + 7 End-of-month deposits (thousands) t .. $ 4,960 3 -4
DEER PARK: see HOUSTON SMSA 

Annual rate of deposit turnover . 14.0 + 10
+ ' 
172 
TEXAS BUSINESS REVIEW 
Percent change Percent change

Local Business Conditions Local Business Conditions 
May 19S4 May 19S4 May 1964 May 1964

May from from May from fromCity and item 19S4 Apr 19S4 May 19S8 City and item 1964 Apr 19S4 May 1968 
EL PASO GRAPEVINE (pop. 2,821) 
Postal receipts• .. .. $ 8,7SO -1 -11Standard Metropolitan Statistical Area Building permits, less federal contracts $ 86,100 +445 +1867 (pop. 337,6501; El Paso2) Bank :lebits (thousands) . . . ... .. .$ 3,254 -13 •• End-of-month deposits (thousands) t .. $ 8,270 -1 + 16
EL PASO (pop. 276,687) 
Annual rate of deposit turnover. 11.9 -11 -10 Retail sales 
+ St + 9 + 12 

Apparel stores NORTH RICHLAND HILLS (pop. 8,662)
St + 27 + 25 Automotive stores ...... . •• + 8 + 10 Building permits, less federal contract• $ 239,392 -S4 -4 General merchandise stores. + 4t + 3S + 18 Bank debits (thousands) . . .. .$ 6,00S 5 + 96 Postal receipts• $ 32S.S82 -6 2 End-of-month deposits (thousands) t. $ 3,803 2 +134 Building permits, less federal contracts $ 3, 719,SS9 -14 -17 Annual rate of deposit turnover. 18.8 -lS 
Bank debits (thousands) . . $ 41S,225 + IS + 4 End-of-month deposits (thousands) t .. $ 19S,327 18 + 11 WHITE SETTLEMENT (pop. 11,513) Annual rate of deposit turnover . 22.9 + lS 18 Building permits, less federal contracts $ 97,326 + 12 + 18 
Nonfarm employment (area) ... 92,800 Bank debits (thousands) . . . ........ .$ S97 -11 

Manufacturing employment (area) . lS,790 End-of-month deposits (thousands) t $ 738 -2S 
Percent unemployed (area) . 4.8 -4 -8 Annual rate of deposit turnover. 9.5 

+ 1 + 2 

FREDERICKSBURG (pop. 4,629)FORT WORTH 
Retail sales + St + + 18 Drug stores . + st •• ••
Standard Metropolitan Statistical Area 
General merchandise stores . + 4t + 17 + 17
(pop. 592,341'; Johnson and Tarrant2) 

Postal receipts• ...........$ 7,000 2 -8 ARLINGTON (pop. 44,775) Building permits, less federal contracts $ 39,S2S + SS -13 Bank debits (thousands) . .$ 8,S74 + 2 + 7
Retail sales End-of-month deposits (thousands) t .. $ S,9S7 + + 6Apparel stores . . -st + 15 + 12 Annual rate of deposit turnover . 11.S + + 2
Postal receipts• .......... . .. . .. . ....$ 7 5,280 + 16 + lS 
Building permits, less federal contracts $ 2,llS,644 + 33 + 2S 

G.\INESVILLE (pop. 13,083)
Nonfarm employment (area) ... 280,800 •• + 4 Retail salesManufacturing employment (area) . SS,42S + 1 + 9 Apparel stores -St + 21 + 3Percent unemployed (area) . 3.2 -s -16 
Drug stores + 5t + 2 Postal receipts• ...$ 15,S40 -9 + 17 CLEBURNE (pop. 15,381) Building permits, less federal contracts $ S27,173 +2S3 +742 
Postal receipts• . . . . . . . . ... ..... .$ 18,774 + 6 + 6 
Building permits, less federal contracts $ 1SS,3SO + 49 + 95 

GALVESTON-TEXAS CITY 
Bank debits (thousands) . . .. . .. $ 12,242 + Standard Metropolitan Statistical Area 
End-of-month deposits (thousands) t .. $ . 12,274 + + 2 (pop. 148,1121; Galveston2 ) 
Annual rate of deposit turnover . 12.0 4 •• 

GALVESTON (pop. 67,175)
Nonfarnt employment (area) . 230,SOO •• + 4 Retail sales + St + 11 + 14Manufacturing employment (area) . S8,42S + 1 + 9 Apparel stores -st + 20 + 7Percent unemployed (area) .. . 8.2 3 -16 
Automotive stores •• + + 72 Food stores .... . + 2t + 6 + 6 

EULESS (pop. 2,062) Furniture and household Postal receipts• .$ 6,286 + + 2S appliance stores + 19t + 21 8 Building permits, less federal contracts $ 279,0S6 -4S -49 
Postal receipts• .. $ lOS.571 + + 9 Bank debits (thousands) . . . . .. . .. $ 4,6S2 -1 + 40 
Building permits, less federal contracts $ 359,202 -S2 -84 
End-of-month deposits (thousands) t .. $ 2,814 + + 9 Bank debits (thousands) . $ 103,733 + •• 
End-of-month deposits (thousands) t .. $ S0,629 -1 + 7
Annual rate of deposit turnover. . . .. . 19.S -12 + 19 Annual rate of deposit turnover . 20.4 + 4 2 Nonfarm employment (area) . 55,SOO •• + 4 FORT WORTH (pop. 356,268) Manufacturing employment (area) . 10,SlO + + 2 
Retail sales + St + IS + s Percent unemployed (area) . 4.S -4 -32 Apparel stores St + 6 + 9 Automotive stores + 10 + 19 LA MARQUE (pop. 13,969)
+ 9t Drug stores + st + 6 + 6 Postal receipts• .$ 11,050 + + 2 
Eating and drinking places ... + St + 10 + 6 Building permits, less federal contracts $ 242,800 + 39 +251 Florists .. + 81 1 Bank debits (thousands) . . .. .$ 10,352 3 + 10 Food stores ......... . + 2t + 14 + 6 End-of-month deposits (thousands) t .. $ 6,301 + 8 + 1 Furniture and household Annual rate of deposit turnover. 20.0 + s 
appliance stores + 2St + 17 + s Nonfarm employment (area) . 55,600 •• + 4 G880line and service stations . + St + -13 Manufacturing employment (area) . 10,610 + + 2 General merchandise stores . + 1st + 34 + IS Percent unemployed (area) . 
4.6 -4 -82 

Lumber, building material, and hardware stores . + 4t -6 -6 TEXAS CITY (pop. 32,065) Postal receipts• . . . . . . . . $ 962,270 + 2 + 14 Postal receipts• $ 27,29S -8 + 7 
-

Building permits, less federal contracts $ 7 ,332,695 + 79 + 91 Building permits, less federal contracts $ 597,920 -36 29 24,979 -3 -4
Bank debits (thousands) . . .... ..... . . S S04,S42 -s 6 Bank debits (thousands) . . $ 
End-of-month deposits (thousands) t .. $ U0,567 •• + 1 End-of-month deposits (thousands) t .. $ 15.396 •• + 11 

19.4 -8 -10

Annual rate of deposit turnover. 28.S -7 5 Annual rate of deposit turnover .. 
Nonfarm employment (area) . 280,SOO •• + 4 Nonfarm employment (area) . •• + '

5S,600 

Manufacturing employment (area) . 68,426 + 1 + 9 Manufacturing employment (area) . 10,610 + + 2 
4.5 -4 -82

Percent unemployed (area) . 8.2 -8 -16 Percent unemployed (area) . 
JULY 1964 

Percent change Percent chan1e
Local Business Conditions Local Business Conditions 
May 1964 May 1964 May 1964 May 1964 May from from May from from City and item 1964 Apr 1964 May 1963 City and item 1964 A_pr 1964 May 1963 
HARLINGEN: see BROWNSVILLE-HARLINGEN-SAN BENITO SMSA GATESVILLE (pop. 4,626) Postal receipts• $ 5,708 -5 + 5 HEMPSTEAD (pop. 1,505) Birnk debits (thousands) . $ 5,286 -12 5 
GARLAND: see DALLAS SMSA 

Postal receipts• ... . .............$ 4,019 -17 -20
End-of-month deposits (thousands) t. $ 5,873 -2 + 3 

Ba nk debits (thousands) . . ..........$ 1,402 9 

-17
Annual rate of deposit turnover. 10.7 -11 

End-of-month deposits (thousandsJi ..$ 1,925 + l -1 
Annual rate of deposit turnover. 8.8 GIDDINGS (pop. 2,821) -10 Postal receipts• $ 4,544 + 36 + 33 
HEREFORD (pop. 9,584r) 
Building permits, less federal contracts $ 30,600 + -30 Postal receipts• .$ 14,192 + 9
Bank debits (thousands) . $ 3,547 + 4 + 14 + 83 End-of-month deposits (thousands) t. $ 3,972 3 -4 -50 -70
Building permits, less federal contracts $ 179,800 
Bank debits (thousands) . . . . .... $ 22,073 End-of-month deposits (thousands) i. $ 14,225 9 Annual rate of deposit turnover. 10.6 + + 18 7 + 65 
+ 14 

Annual rate of deposit turnover. 17.7 
GILMER: (pop. 4,312) + + SS Retail sales Lumber, building material, HOUSTON 
and hardware stores + 4t + 21 Postal receipts ....................$ 8,214 + 47 4 Standard Metropolitan Statistical Area Building permits, less federal contracts $ 12,000 +167 (pop. 1,342,5111; Harris2) 
BAYTOWN (pop. 28,159) 
GLADEWATER (pop. 5,742) Postal receipts* 8,419 + 18 + 10 Retail sales + 6t + + 9 Building permits. less federal contracts $ 64,618 +298 +425 Automotive stores •• + 8 + 14 Bank debits (thousands) . . ... .. $ 3,811 -12 + 11 Food stores + 2t + + 2 End-of-month deposits (thousands) t. $ 3,897 + 5 -2 Postal receipts• $ 35,764 + 16 + 18 Annual rate of deposit turnover . 12.0 14 + 14 Building permits, less federal contracts $ 950,585 + 59 + 14 
Nonfarm employment (area) . 29,150 + l + 2 Bank debits (thousands) . . .... ...$ 31,410 -11 + 6 Manufacturing employment (area) . 6,170 + 3 + 10 End-of-month deposits (thousands) t .. $ 28,212 + 5 + 10 Percent unemployed (area) .. 3.9 + 8 -17 Annual rate of deposit turnover . 13.7 -4 •• Nonfarm employment (area) . 578,100 •• + 8 GOLDTHWAITE (pop. 1,383) Manufacturing employment (area) . 97,700 •• + 5 Percent unemployed (area) . 3.4 + 10 -11
Postal receipts• . $ 2,790 + 48 + 32 Bank debits (thousands) . . ....$ 4,633 + 2 -8 End-of-month deposits (thousands>: .. $ 5,534 + 2 + 20 DEER PARK (pop. 4,865) Annual rate of deposit turnover . 10.1 •• -23 Postal receipts• .....$ 6,720 + 2 + 14 Building permits, less federal contracts $ 190,300 -41 -15
GRAHAM (pop. 8,505) 
Bank debits (thousands) ......... . . $ 3,829 -10 -1 Postal receipts• ...$ 7,761 -13 16
-

End-of-month deposits (thousands) t ..$ 2,058 -10 Building permits, less federal contracts $ 4,000 -87 84
-

Annual rate of deposit turnover . 21.9 -4 + 9 Bank debits (thousands) . . ........ .. $ 8,167 -16 -17 End-of-month deposits (thousands) t. $ 9,651 •• + 2 Annual rate of deposit turnover . 10.1 -13 -15 HOUSTON (pop. 938,219) Retail sales + 6t + +GRANBURY (pop. 2,227) Apparel stores St + 11 + Postal receipts• $ 3,725 -27 Automotive stores + llt + 6 + Bank debits (thousands) . . .......$ l,559 7 Drug stores .................... .. . + 2t + 11 End-of-month deposits (thousands) t .. $ 2,071 + 4 Eating and drinking places . + 4t + + 4 Annual rate of deposit turnover . 9.2 + 5 Florists + 29 + 16 Food stores ................ . .. . . . . + 2t + 6 + 4 GRAND PRAIRIE: see DALLAS SMSA Furniture and household appliance stores .. + 9t + 19 + 16 GRAPEVINE: see FORT WORTH SMSA 
General merchandise stores . + St -3 + 4 Liquor stores ........ . . . + lt + 10 + 19 Lumber, building materials,

GREENVILLE (pop. 19,087) 
and hardware stores . + 4t + 8 + 4

Retail sales Postal receipts• . $ 2,275,956 + 4 -24Drug stores 
+ 5t + 10 + 10 Building permits, less federal contracts $20,314,385 -32 -85Food stores 

+ 2t -17 -10 

Bank debits -(thousands) ........$ 3,562,409 4 +

Postal receipts• $ 28,728 ­3 + 27 End-of-month deposits (thousands) t .. $ 1,512,590 + l +Building permits, less federal contracts $ 506,180 +132 + 7 Annual rate of deposit turnover. 28.4 -4 + 4
Bank debits (thousands) ......... ....$ 16,216 + 12 

Nonfs.rm employment (area) . 578,100 •• +
End-of-month deposits (thousands) t. $ 13,534 -2 •• 8 
Manufacturing employment (area) . 97,700 •• + 5

Annual rate of deposit turnover . 14.2 -6 + 11 Percent unemployed (area) . 3.4 + 10 -11Nonfarm placements 159 -10 +145 
HALE CENTER (pop. 2,196) HUMBLE (pop. 1,711) 
Postal receipts• . . . . . . . . . $ 2,733 + 17 + 15 Postal receipts• ...$ 5,027 + 22 + 18 Building permits, less federai ~~~-t~~~i,; $ 10,500 -12 + 72 Building permits, less federal contracts $ 1,375,640 +22827 H6S2 
Bank debits (thousands) .............$ 

2,506 -24 9 Bank debits (thousands) . . . $ 6,113 + 83 +101 End-of-month deposits (thousands) t. $ 3,929 -9 End-of-month deposits (thousands) t. $ 3,190 •• + 9 Annual rate of deposit turnover . 
7.3 -18 6 Annual rate of deposit turnover . 23.0 + 85 + 85 
TEXAS BUSINESS REVIEW 
Percent change Percent change

Local Business Conditions Local Business Conditions 
May 1964 May 1964 May 1964 May 1964

May from from May from fromCity and item 1964 A.11r 1964 May 1963 City and item 1964 Apr 1964 May 1963 
KATY (pop. 1,569) KERMIT: (pop. 10,465) 
Postal receipts ....... . .. $ 2,199 + 4 + 9 Retail sales 
Building permits, less federal contracts $ 35,900 -78 Drug stores St ­
+ 7 -2 

Bank debits (thousands) .. . . . ....... .$ l,916 -83 •• Postal receipts• .... .. ... .$ 9,064 + 9 + 2 ·End-of-month deposits (thousands) i . .$ 2,412 -3 + 16 Building permits, less federal contracts $ 26,400 +162 -70 Annual rate of deposit turnover . 9.4 -31 -18 
KILGORE (pop. 10,092) 
LA PORTE (pop. 4,512) Postal receipts• ... .........$ 14,880 + 1 -6 
Building permits, less federal contracts $ 90,000 2 Building permits, less federal contracts $ 44,739 -80 -25 

Bank debits (thousands) .. ... ...... .. $ 4,769 2 · 1 Bank debits (thousands) . . .....$ 11,872 -4 
End-of-month deposits (thousands) i. $ 2,803 4 + 8 End-of-month deposits (thousands!* . $ 12,394 •• + 3 
Annual rate of deposit turnover . 20.0 + 12 Annual rate of deposit turnover. 11.5 3 

Nonfarm employment (area) . 29,150 + 1 + 2 Manufacturing employment (area) . 6,170 + 3 + 10
PASADENA (pop. 58,737) 
Percent unemployed (area) .. 3.9 + 8 -17
Retail sales 
Apparel stores -st + 16 + 40 

KILLEEN (pop. 23,377)
Automotive stores •• + 12 -1 Postal receipts• . . $ 40,100 -14 + 2Postal receipts• .. $ 51,198 + 10

+ 

Building permits, less federal contracts $ 422,895 -39 -59Building permits, less federal contracts $ 2,075,310 + 18 -19 
Bank debits (thousands) . . ...... ... .$ 16,065 -13 -4Bank debits (thousands) . . $ 58,063 -9 + 6 
End-of-month deposits (thousands) i $ 9,523 -24 -10End-of-month deposits (thousands) i. $ 30,358 + 2 + 11 Annual rate of deposit turnover . 17.5 -1 -6Annual rate of deposit turnover . 23.2 -10 -2 
TONGSLAND (pop. 150)SOUTH HOUSTON (pop. 7,253) 
Postal receipts• .. ....$ 870 -48 + 46 Postal receipts• .. .$ 8,175 + 4 + 12 
Bank debits (thousands) .. .$ 932 + 14 + 64 Building permits, less federal contracts $ 118,044 -45 +123 
End-of-month deposits (thousands) i . .$ 561 -15 + 79 Bank debits (thousands) .. . ..........$ 6,869 1 + 17 
Annual rate of deposit turnover . 18.3 + 18 -19 End-of-month deposits (thousands) i. $ 5,010 8 + 25 
Annual rate of deposit turnover. 15.8 2 -6 
KINGSVILLE (pop. 25,297) 
Postal receipts• . . . . . . . . . . . . . . . .. $ 17,226 .. -8 TOMBALL (pop. 1,713) Building permits, less federal contracts $ 78,950 -85 -81 Building permits, less federal contracts $ 19,000 Bank debits (thousands) . . . $ 11,766 9 -7 Bank debits (thousands) . $ 8,664 + 9 + End-of-month deposits (thousands) i $ 13,792 + + 10 F:nd-of-month deposits (thousands) i $ 5,416 •• 8 Annual rate of deposit turnover .... 10.3 6 -12 Annual rate of deposit turnover 19.2 + 9 + 5 
KIRBYVILLE (pop. 1,660) 
Postal receipts• .. $ 4,593 + 42 + 28

HUMBLE: see HOUSTON SMSA 
Bank debits (thousands) . . . . . . .....$ 2,142 + 4 -14 End-of-month deposits (thousands!* . . $ 3,446 + 7 ••
HUNTSVILLE (pop. 11,999) 
Annual rate of deposit turnover .. . .. 7.7 + 1 -18 Postal receipts• . .. ... .... ....$ 12,415 -11 + 18 Building permits, less federal contracts $ 133,900 -62 +129 
LA FERIA: see BROWNSVILLE-HARLINGEN-SAN 
Bank debits (thousands) . . ...... . $ 8,058 2 -14 
BENITO SMSA 
End-of-month deposits (thousands) i . .$ 8,712 6 + 4 
Annual rate of deposit turnover...... 10.7 + 2 -18 

LA MARQUE: see GALVESTON-TEXAS CITY SMSA 
IOWA PARK: see WICHITA FALLS SMSA 
LAMESA (pop. 12,438) Retail sales IRVING: see DALLAS SMSA Drug stores + 5t 9 -6 
Lumber, building materials, JACKSONVILLE (pop. 10,509r) and hardware stores . + 4t 2 + 15 Postel receipts• . . .$ 21,590 8 + 22 
Postal receipts• .. ...$ 11,978 + 9 -7
+ 

Building permits, less federal contracts $ 95,700 -18 -64 Bank debits (thousands) .. $ 14,693 -16 -6Building permits, less federal contracts $ 44,000 -48 -2S 
Bank debits (thousands) . . . . .. .....$ 13,118 •• + lS 
-

End-of-month deposits (thousands!* . $ 9,608 + 8 + 4 End-of-month deposits (thousands) i. .$ 16,241 6 •• 
Annual rate of deposit turnover . 16.7 -1 + 11 

Annual rate of deposit turnover . 10.5 -9 -6 Nonfarm placements 77 -24 -27 
JASPER (pop. 4,889) 
LAMPASAS (pop. 5,061) 
Retail sales 

Postal receipts• . . $ 6,614 + so + 29 Furniture and household Building permits, less federal contracts $ 63,500 + 12 -85 
appliance stores + 19t + 28 + 25 Bank debits (thousands) . $ 8,18S + 10 + 6 
Postel receipts• . . . . . . . . . . . $ 8,554 + 7 + 7 End-of-month deposits (thousands>*. .$ 6,451 •• 2 
Building permits, less federal contracts $ 92,115 -1 +soi Annual rate of deposit turnover..... 15.2 + 9 + 6 
Bank debits (thousands) . . . . . . . . . .$ 12,420 + 20 + 27 
End-of-month deposits (thousands!*.. $ 9,276 + + 16 LA PORTE: see HOUSTON SMSA 
Annual rate of deposit turnover..... . 16.4 + 17 + 26 

LITTLEFIELD (pop. 7,236) Retail salesJUSTIN: see DALLAS SMSA 
General merchandise stores..... ... . + 4t + 24 + 11 Postal receipts• ...S 7,308 + 5 -30 KATY: see HOUSTON SMSA Building permits, less federal contracts $ 155,100 -10 -26 
JULY 1964 175 
Percent change 	Percent change
Local Business Conditions Local Business Conditions 
May 1964 May 1964 May 1964 May 1964 May from from May from from City and item 1964 Apr 1964 May 1963 City and item 1964 Apr 1964 May 1963 
LAREDO 	SLATON (pop. 6,568) Postal receipts• ................... $ 4,956 + 40 
+ 14

Standard Metropolitan Statistical Area Building permits, less federal contracts $ 88,3SO + 70 
+122 (pop. 67,192t; Webb2) Bo.nk debits (thousands) $ 3,978 -8 4 End-of-month deposits (thousands) t .. $ 3,802 -10LAREDO (pop. 60,678) Annual rate of deposit turnover . 11.9 •• + 8 7 Retail sales Nonfarm employment (area) . 57,SOO •• 
+ 

Apparel stores -St + 24 + 26 	Manufacturing employment (area) . 6,160 + 2 
+ 

Postal receipts• . .. $ 43,021 + 7 + 17 	Percent unemployed (area) . 3.2 -9 
-14 Building permits, less federal contracts $ 170,660 -4S 38 Bank debits (thousands) . . . .. .$ 38,IS8 6 3 LUFKIN (pop. 17,641) End-of-month deposits (thousandsIt. $ 2S,621 3 + 5 
Retail sales Annual rate of deposit turnover . 17.6 4 
Automotive stores 	•• + 8 + 35Nonfarm employment (area) . 19,SOO + 3 + 2 

Postal receipts• . ..... .. .. ... . . $ 35,063 + 30 + 89Manufacturing employment (area ) 1,340 + 2 
+ Building permits, less federal contracts $ 18S,S10 -38 -54Peroent unemployed (area) . 9.0 8 1 
Bank debits (thousands) . . .. .$ 33,042 + 15
Nonfarm placements 	60S 2 + 64 

End-of-month deposits (thousands ) t .. $ 28,372 •• -1 Annual rate of deposit turnover . 13.9 2 + 15 LLANO (pop. 2,656) +
Nonfa rm placements 	70 + 8 
Postal receipts• ....$ 3,13S + 13 -13 
McALLEN (pop. 32,728)
Building permits, less federal contracts $ S,600 -74 -66 

Retail sales + 	6t + 7
Bank debits (thousands) $ 3,406 + 8 2 	+ 14 
Apparel stores 	St + JO + 22

End-of-month deposits (thousands) t $ 4,0lS + 1 + 11 Automotive stores 8
Annual rate of deposit turnover . 10.3 + 6 9 	•• + + 21 
Food stores 	+ 2t + 
-' 
Furniture and household
LOCKHART (pop. 6,084) 

appliance stores + 19t 6 + 18 Postal receipts• $ 6,279 + 40 + 29 Gasoline and service stations . + st + 10 + 1 Building permits, less federal contracts $ S73,8SO +435S +272 Postal receipts• . . . . . . . . . . . . . . . ....$ 32,171 -7 •• Bank debits (thousands) . . . ...$ S,260 -2 -2 Building permits, less federal contracts $ 268,SOO + 36 + 66 End-of-month deposits (thousands) t. $ 6,486 + 20 + 29 Bank debits (thousands) . $ 30,027 -1 Annual rate of deposit turnover. 10.6 -10 -l S End-of-month deposits (thousands) t. $ 21,928 •• 
Annual rate of deposit turnover . 16.3 
Nonfarm employment (area) . 42,850 + +

LON&VIEW (pop. 40,050) 
Manufacturing employment (area) . 4,910 + 
+
Retail sales + 	6t + 7 3 

Percent unemployed (area) . 5.8 -19 
Apparel stores St + 

9 2 Nonfarm placements 650 -6 + 60 Automotive stores ..t 7
+ 
Drug stores 	+ St + + 4 
McCAMEY (pop. 3,375)
General merchandise stores. + 4t + 33 + 10 Postal receipts• .. ... $ 3,117 -6 + 2Lumber, building materials, Bank debits (thousands) ... . . $ 1,916 + 2 + 6and hardware stores . + 4t -8 + 12 End-of-month deposits (thousands) t. $ 1,702 -11 2Postal receipts• .. . ..... .$ S7,147 + 7 + 4 Annual rate of deposit turnover . 12.7 + 2 +

Building permits, less federal contracts $ 897.600 -30 + 67 Bnnk debits (thousands) . .$ Sl,780 6
+ 

End-of-month deposits (thousands ) t. $ 40,764 + McGREGOR: see WACO SMSA Annual rate of deposit turnover. lS.O 3 Nonfarm employment (area) . 29,l SO + 1 
8 

+ 2 McKINNEY: see DALLAS 	SMSA 
Manufacturing employment (area) 6,170 
+ 3 + 10 
Percent unemployed (area) . 3.9 + 8 -17 

MARSHALL (pop. 23,846) Retail sales 
LOS FRESNOS: see BROWNSVILLE-HARLINGEN­Apparel stores 	-5t + 26 .. 
SAN BENITO SMSA 	Postal receipts• ........ ......... $ 30,868 + s + 6 
Building permits, less federal contracts $ 313,8S8 +427 -88 
Bank debits (thousands) . . ... .$ 19,404 + 11 + 12 

LUBBOCK 	End-of-month deposits (thousands)t.. $ 23,935 + 4 + 7 Annual rate of deposit turnover . 9.9 + 9 +
Standard Metropolitan Statistical Area 
Nonfarm placements 	236 2 +
(pop. 171,0711; Lubbock2) 

LUBBOCK (pop. 128,691) MERCEDES (pop. 10,943) Retail sales 
Postal receipts• . . . . . . . $ S,195 -10
+ 6t -1 •• 	-' 
Apparel stores 	Building permits, less federal contracts $ 13,92S -82 -88
St + 16 + 3

Automotive stores 	Bank debits (thousands) . .$ 5,087 6 -11
•• -7 -4

Florists 	End-of-month deposits (thousands) t .. $ 3,663 + 4 + 6
+ 34 + 20 
Annual rate of deposit turnover . 17.0 -11General merchandise stores. + 4t 

+ 13 + 6 	' 
Postal receipts• . . . . . . . . . . . .. $ 221,880 
•• + 4 

Building permits, less federal contracts $ 3,7S2,201 	MESQUITE: see DALLAS SMSA
•• + 58 
Bnnk debits (thousands ) . . ..........$ 239,970 

-3 + 9 End-of-month deposits (thousands) t .. $ 129,466 

-3 + 8 MEXIA (pop. 6,121)
Annual rate of deposit turnover. 21.8 

•• + 2 Postal receipts• ....... . ..$ 6,099 -9 + 16 

Nonfarm employment (area) S7,SOO •• + 6 Bank debits (thousands) . . . . . . .. . $ 4,635 -11 + 18 Manufacturing employment (area) 6,160 

+ 2 + 2 End-of-month deposits 	(thousands) t .. $ 4,966 -4 + 11 Percent unemployed (area) . 3.2 
-9 -14 Annual rate of deposit turnover. . . . . . 10.8 -10 
+ ' 
176 

TEXAS BUSINESS REVIEW 

Percent change 	Percent change
Local Business Conditions 	Local Business Conditions 
May 1964 May 1964 May 1964 May 1964 May from from May from from City and item 1964 Apr 1964 May 1963 City and item 1964 Apr 1964 May 1963 
MIDLAND 	NEDERLAND: see BEAUMONT-PORT ARTHUR SMSA 
Standar<I Metropolitan Statistical Area NEW BRAUNFELS (pop. 15,631)

(pop. 68,4521; Midland2) 

Postal receipts• .. $ 19.595 + 8 •• MIDLAND (pop. 62,625) Building permits. less federal contracts $ 290,905 + 65 +127 Bank debits (thousands) _ $ 13,169 5
Retail sales 	+ 6t 2 + 2 End-of-month deposits (thousands) t $ 12.579 + I +
Drug stores . . . . . 	+ 5t + .9 + 11 

Annual rate of deposit turnover _ 12.6 7 4
Postal receipts . . . . . $ 109.817 7 + 5 Building permits, less federal contracts $ 1,042,475 2 -13 
NORTH RICHLAND HILLS: see FORT WORTH SMSA 
Bank debits (thousands) . . .. . . $ 130,386 7 -14 End-of-month deposits (thousands)i.. $ 103,661 + + 7 Annual rate of deposit turnover . 15.2 7 -17 ODESSA Nonfarm employment (area) . 56,200 + 1 2 
Manufacturing employment (area) . 4.180 + 1 + 1 Standard Metropolitan Statistical Area 
Percent unemployed (area) . 2.9 3 --6 (pop. 87,4721 ; Ector2) 
Nonfarm placements 831 + 23 

ODESSA (pop. 80,338) Retail salesMIDLOTHIAN: see DALLAS SMSA 
Furniture and household 

appliance stores + 19t -2 -1 
MINERAL WELLS (pop. 11,053) Postal receipts• ...$ 89,690 + 5 + 2 
Building permits. less federal contracts $ 476.168 -19 -28

Retail sales Bank debits (thousands) .$ 88,013 + l + sGeneral merchandise stores . + 4t + 18 + 2 End-of-month deposits (thousands) t. $ 78.743 8 + s
Postal receipts• 	$ 15,187 + 14 + 15 
Annual rate of deposit turnover. 12.8 + 2 2
Building permits, less federal contracts $ 118,450 + 13 -46 
Nonfarm employment (area) . 5S.200 + 2Bank debits (thousands) . . . $ 11.945 -2 -14 Manufacturing employment (area) _ 4,180 + 1 +End-of-month deposits (thousands) $ 11,473 •• -2 Percent unemployed (area) . 2.9 3 6Annual rate of deposit turnover . 12.5 1 -10 
Nonfarm placements 	502 .. + 11Nonfarm placements . .... .. .. . . . . 106 + 3 -9 
ORANGE: see BEAUMONT-PORT ARTHUR SMSA
MISSION (pop. 14,081) 
Retail aales 

PALESTINE (pop. 13,974)
Drutr stores + 5t + 3 + 16 Postal receipts• .... .. $ 9.056 -8 + 3 Postal receipts~ . _ . $ IS.720 + s -7 Building permits, less federal contracts $ 38,800 + 34 -67 Building permits, less federal contracts $ 176,000 + 19 + 55 Bank debits (thousands) . . . $ 10.851 7 + 3 Bank debits (thousands) . $ 11.701 l + 8 End-of-month deposits (thousands) t. $ 8.649 3 + 6 End-of-month deposits (thousands) t. $ 15,985 + 3 + 5 Annual rate of deposit turnover. 14.8 3 Annual rate of deposit turnover. 8.9 + 5 
PAMPA (pop. 24,664)MONAHANS (pop. 8,567) 
Retail sales 	+ St + 11 + 19 
Postal receipts• .$ 9.341 -14 + 7 	..
Automotive stores 	+ 13 + 35 

Building permits, less federal contracts $ 36.400 -61 -18 
Eating and drinking places. + st + 7 + 11 

Bank debits (thousands) . . . . . $ 10.258 -8
+ 1 Food stores ............ .. ....... .. + 2t 	-4 + 12 

End-of-month deposits (thousands) t .. $ 7.232 + 1 •• 	Postal receipts• ...$ 29,401 + 11 + 5 
Annual rate of deposit turnover . 17.1 + 2 -6 	Building permits, less federal contracts $ 222,950 + 43 +524 Bank debits (thousands) . . ..$ 25,338 5 + s End-of-month deposits (thousands) t .$ 20,820 -2 + 1
MOUNT PLEASANT (pop. 8,027) 
Annual rate of deposit turnover . 14.4 -4 + 7 Retail sales 
Nonfarm placements 	213 + 12 + 49 
Apparel stores .......... . .. . . -5t + 29 + 2 
Postal receipts• ... .$ 11.801 + s + 7 

PARIS (pop. 20,977)
Building permits, less federal contracts $ 107,100 + 12 +192 
Bank debits (thousands) ............ . $ 11,039 1 + 14 Retail sales 

+ St + 15 + 20 End-of-month deposits (thousands) t .. $ 8,091 3 + 7 Apparel stores 5t
-+ 31 + 8 Annual rate of deposit turnover . 16.l + 3 + 8 Automotive stores .. + + 28 Postal receipts• ...$ 28,300 + 18 + 19 Building permits, less federal contracts $ 542,478 + 27 +177 MUENSTER (pop. 1,190) Bank debits (thousands) . . . ....$ 18.766 4 + 12 Postal receipts• . . . . . .....$ 3,541 + 95 + 86 End-of-month deposits (thousands) t .. $ 14,999 -2 + 5 Building permit•, less federal contracts $ 30,000 Annual rate of deposit turnover . 14.9 + + 6 
Bank debits (thousands) . . .... .. .$ 2,126 5 -11 Nonfarm placements 132 + 63 + 2S End-of-month deposits (thousands)i.. $ 1,987 9 4 Annual rate of deposit turnover... 12.3 -9 PASADENA: see HOUSTON SMSA 
NACOGDOCHES (pop. 12,674) PECOS (pop. 12,728) Postal receipts• . . ...... . ..... .. .. . .. $ 20,928 -7 + 6 Postal receipts• ... .$ 13,22S + 27 + 25 Buildintr permits, less federal contracts $ 78.864 -56 -86 Building permits, less federal contracts $ 11.871 + 2 -45 Bank debits (thousands) . . . . . . . . . .$ 20,939 2 + 13 Bank debits (thousands) . .$ 15, 752 7 -9 End-of-month deposits (thousands)i.. $ 19,611 -2 + 11 
End-of-month deposits (thousands) t .. $ 10,0S4 s -13 
18.2 I + 6

Annual rate of deposit turnover .... 12.7 -2 + 2 	Annual rate of deposit turnover. 
S9 + 80 +so

Nonfann placements 115 -43 -27 	Nonfarm placements 
177

JULY 1964 
Percent change Percent change
Local Business Conditions Local Business Conditions 
May 1964 May 1964 May 1964 May 1964 May from from May from from 
1964 Apr 1964 May 1963 City and item 1964 Apr 1964 May 1968City and item 
SAN ANGELO
PHARR (pop. 14,106) 6,606 -16 -2

Postal receipts• · · $ Standard Metropolitan Statistical Area 
Building permits, less federal contracts $ 24,150 -28 -47 
(pop. 69,9521; Tom Green2) 
3,860 6 End-of-month deposits (thousands)t . $ 3,891 I Bank debits (thousands) . . . $ 

SAN ANGELO (pop. 58,815)
Annual rate of deposit turnover .. 11.8 3 + Retail sales + st + 12 + 
4 General merchandise stores + 4t + 18 
+ 7
PILOT POINT: see DALLAS SMSA 
J ewelry stores 64

+ -17 Postal receipts• ...$ 86,414 -6 -6
PLAINVIEW (pop. 18,735) 

Building permits, less federal contracts $ 273,237 -68 -18 Retail sales Bank debits (thousands) . . . . . . . . . . . . $ 62,362 + 2 Automotive stores + 4 -5 End-of-month deposits (thousands) t. .$ 48,784 + + I 
Lumber, building material, 

Annual rate of deposit turnover. 15.5 + I and hardware stores + 4t + 4 -28 Nonfarm employment (area) . 20,150 + ••Postal receipts• . . $ 27,143 + 12 + 10 Manufacturing employment (area) . 3,390 + 
+ 

Building permits, less federal contracts $ 396,300 -65 -34 Percent unemployed (area) . 4.4 + 7 -4 Bank debits (thousands) . . .. $ 39,036 + 7 End-of-month deposits (thousands) t $ 27,976 + 6 Annual rate of deposit turnover 17.2 + 8 SAN ANTONIO Nonfarm placements 326 -7 + 27 
Standard Metropolitan Statistical Area (pop. 774,1751 ; Bexar and Guadalupe2) 

PORT ARTHUR: see BEAUMONT-PORT ARTHUR 
SMSA SAN ANTONIO (pop. 587,718) 

Retail sales + 7t + 18 
+
PORT ISABEL: see BROWNSVILLE-HARLINGEN­

Apparel stores 4t + 19 + 
SAN BENITO SMSA Automotive stores + 14t + 12 + 
Drug stores + 5t + 1 
PORT NECHES: see BEAUMONT-PORT ARTHUR Eating and drinking places . + 2t + + 2 
Florists + 44 + 19

SMSA 
Food stores + 4t + 5 + IS Furniture and household
QUANAH (pop. 4,564) 
appliance stores + 22t + 83 
+
Postal receipts• .$ 5,329 + 27 -11 Gasoline and service stations . + St 1 -11
+
Building permits, less federal contracts $ 231,500 +356 +712 General merchandise stores + 11t + 66 + 11
Bank debits (thousands) . ............ $ 4,558 -12 -26 

Jewelry stores + 88 
+
End-of-month deposits (thousands) t .. $ 5,021 -20 Liquor stores 9 +

Annual rate of deposit turnover. 10.9 -5 -12 + 
Lumber, building material, and hardware stores + St 3 1 

RAYMONDVILLE (pop. 9,385) Nurseries .. .. .... . . . ... . -47 -22 
Postal receipts• . .. ... ...... . . . $ 5,623 -22 -3 Postal receipts• ...$ 887,400 + 7 + 6 
Building permits, less federal contracts $ 33,500 -32 + 32 Building permits, less federal contracts $ 4,246,636 -H -20 
Bank debits (thousands) . . . . $ 5,803 + 3 -16 Bank debits (thousands) . $ 750,538 -8 
End-o!-month deposits (thousands) t. .$ 6,648 •• -14 End-of-month deposits (thousands)f.. $ 420,943 -2 + 2 
Annual rate of deposit turnover . 10.5 + -5 Annual rate of deposit turnover. . . . . . 21.2 -4 -10 
Nonfarm placements 40 -37 -27 Nonfarm employment (area) . 216,000 •• + 3 

Manufacturing employment (area) . 25,750 •• + 2 RICHARDSON: see DALLAS SMSA Percent unemployed (area) . 4.2 •• -14 
ROBSTOWN: see CORPUS CHRISTI SMSA SCHERTZ (pop. 2,281) 

ROCKDALE (pop. 4,481) Postal receipts• $ l,363 + 1 + 9 Postal receipts• .... .$ 5,874 + 32 + 1 Bank debits (thousands) . $ 585 -8 Building permits, less federal contracts $ 65,300 +223 +695 End-of-month deposits (thousands) t ..$ 1,139 + 12 
Bank debits (thousands) . $ 4,601 2 Annual rate of deposit turnover. 6.5 -7
+ 3 
End-of-month deposits (thousands) t. $ 6,031 1 
+ 
Annual rate of deposit turnover. 9.1 
SEGUIN (pop. 14,299) 
Retail sales
ROSENBERG (pop. 9,698) 
Automotive stores •• -10 + 16Postal receipts• ... ... . $ 9,888 + 16 + 10 Postal receipts• . . . .... $ 11,900 + 1 + 5 Building permits, less federal contracts $ 107,780 

+ 11 + 6 ­
Building permits, less federal contracts $ 75,625 -88 82 End-o!-month deposits (thousands) t .. $ 8,946 

+ + 4 -22
Bank debits (thousands) . .$ 11,681 + s End-of-month deposits (thousands) t .. $ 16,688 + + 6 
SAN BENITO: see BROWNSVILLE-HARLINGEN-SAN 

-25 BENITO SMSA 
Annual rate of deposit turnover..... . 9.0 + 

SAN JUAN (pop. 4,371) SAN MARCOS (pop. 12,713) Postal receipts• ............... .$ 3,053 + 24 + 18 Postal receipts• . $ 13,105 •• + 20 Building permits, less federal contracts $ + 40
76,225 +5157 +4520 Building permits, less federal contracts $ 142,315 -70 Bank debits (thousands) . . ...... .. .. $ 1,961 9,208 2 + 8
+ 2 Bank debits (thousands) . .$ End-of-month deposits (thousands>: . . $ 8 + 10
1,853 1 2 End-of-month deposits (thousands)f. . $ 10,038 
Annual rate of deposit turnover . 10.8 8




12.6 8 + 6 Annual rate of deposit turnover . ­
178 
TEXAS BUSINESS REVIEW 
Percent change 
Percent chanee

Local Business Conditions 	Local Business Conditions 
May 1964 May 1964 May 1964 May 1964

May from from 	May from fromCity and item 
1964 Apr 1964 May 1963 City and item 
1964 Apr 1964 May 1963 

SAN SABA {pop. 2,728) TAYLOR (pop. 9,434) Foetal receipts• . . . .... . . .. .... .... $ 2,664 -4 -9 Retail sales Building permits, less federal contracts ~ 30,000 +2900 + 10 Automotive stores 
+ 6 + 4 

Bank debits (thousands) ....... . .. .. s 	Postal receipts• $ 

End-Of-month deposits (thousands) t .. $ 4,391 •• 3 Building permits, less federal contracts $ 175.405 +us +20S Annual rate of deposit turnover . 12.3 + 9 8 Bank debits (thousands) . S 
4,49S + 9 	10,606 + 13 + 32 
7.320 -12 a End-of-month deposits (thousands) i S 13,774 -4 + 

6 SCHERTZ: see SAN ANTONIO SMSA Annual rate of deposit turnover . 6.S -7 
-7 Nonfarm placements 

41 + 46 + 24 SEAGOVILLE: see DALLAS SMSA TEMPLE (pop. 30,419) SEGUIN: see SAN ANTONIO SMSA Retail sales + 6t + 19 -l Apparel stores 5t +
+ 19 5 

SHERMAN (pop. 24,988) 	EAting and drinking places . + St -2 -10 Food stores
Retail sales . . + 6t + 10 + + 2t + 10 -2 Apparel stores -St + 30 
Furniture and household Automotive stores •• -1 + .. appliance stores + 19t +as + 12 
Lumber. building material,

Furniture and household 
and hardware stores

appliance stores + 19t + 37 + 18 + 4t + 40 + 20 Postal receipts• .$ 40,218 + 4 + 17 
Postal receipts• . . S 46,901 -2 + 3 Building permits, less federal contracts S 1.350,427 +280 + 64

Building permits, less federal contracts $ l,167 ,866 +129 +333 Bank debits (thousands) . . . ...$ 30,668 1 Bank debits (thousands) . ....... . . ...S S0.307 -10 ••
+ 3 
Nonfarm placements 	299 + 8 + 2SEnd-of-month deposits (thousands)t. . $ 18,792 -s + 3 Annual rate of deposit turnover. 19.1 + 4 + 1 Nonfarm placements 180 + 10 -21 TERRELL (pop. 13,803) 

Postal receipts• .$ 9.071 + 5 -11 SILSBEE (pop. 6,277) Building permits, less federal contracts S 101.650 + S5 -S2 Postal receipts• $ 7,832 -12 Bank debits (thousands) . .$ 9.784 + 1 + 19 Bank debits (thousands) . . . $ 4,S74 -5 End-of-month deposits (thousands)t. $ 8.329 + 1 + 5 End-of-month deposits (thousands) t .. $ S.853 + 11 + 6 Annual rate of deposit turnover . 14.1 + a + 17 Annual rate.of deposit turnover. 9.9 -8 •• 
TEXARKANA SINTON (pop. 6,008) 
Standard Metropolitan Statistical Area

Postal receipts• .. $ 6,871 + + 20 Building permits, less federal contracts $ 13,485 + 22 (pop. 62,8691 ; Bowie, excluding Miller, Ark.2) Bank debits (thousands) . . . $ 4,599 4 + 6 
TEXARKANA (pop. 30,218) 
End-of-month deposits (thousands) i. $ 3,996 -11 -7 
Retail sales
Annual rate of deposit turnover. 13.0 + 2 + 12 

Automotive etores .. •• -18 Furniture and household SLATON: see LUBBOCK SMSA appliance stores + 19 + lS + 2 
Postal receipts• $ 6S,1S9 + 4 + 6 SMITHVILLE (pop. 2,933) Building permits, less federal contracte S 424,095 -89 -27 Postal receipts• . . . . . . . $ 2,094 -5 -s Bank debits (thousands) . . ....$ 64.871 3 1 Building permits, less federal contracts S 11,300 -37 End-of-month deposits (thousands) i . .$ 20.002 + 1 + 6 Bank debits (thousands) . . . $ 1,859 + 39 + 54 Annual rate of deposit turnover . 18.0 -3 6 End-of-month deposits (thousands)t. . $ 2,440 + 2 + 3 Nonfarm employment (area) . 82.050 .. + 1 Annual rate of deposit turnover. 9.2 + 42 + 61 Manufacturing employment (area) . 6.780 + + 2 
Percent unemployed (area) . S.7 + 4 •• SNYDER (pop. 13,850) Building permits, less federal contracts $ 11,800 -73 -72 TEXAS CITY: see GALVESTON-TEXAS CITY SMSA Bank debits (thousands) . . . . . $ 12,600 6 + 10 End-of-month deposits (thousands)t.. $ 17,417 + 7 
TOMBALL: see HOUSTON SMSA
Annual rate of deposit turnover . 8.6 s + 6 
TYLER

SOUTH HOUSTON: see HOUSTON SMSA Standard Metropolitan Statistical Area 
SULPHUR SPRINGS (pop. 9,160) (pop. 92,3351 ; Srnith2 )

Postal receipts• . . $ 14,686 -4 + 18 Building permits, less federal contracts $ 154,175 + 48 +121 TYLER (pop. 51,230) Bank debits (thousands) . . ....$ 12,019 -12 + 1 Retail sales + 6t + 5 + a End-of-month deposits (thousands)t.. $ 12,545 + 2 + 1 Apparel stores -St + 19 + 6 Annual rate of deposit turnover. . . . . . 11.6 -10 + 2 Automotive stores .. + 9 + 4 
Florists . . + 24 + 27 SWEETWATER (pop. 13,914) Postal receipts• . .. .. .. ... . . S 108,679 -14 6 Retail aales Building permits, less federal contracts S 1,350,675 + 7 + 7 
Automotive 1torea .. ...... .. . . . ... . •• -9 + 13 Bank debits (thousands) . . ..$ 105,783 -a s
..

Postal receipts• . . . . . . . . . $ 12,787 + 12 •• End-of-month deposits (thousands) t S 69,821 + 4 Building permits, lesa federal contracts $ 70.400 + 1 + 8 Annual -rate of deposit turnover . 18.1 
4 8 

+ 1 + 2 End-of-month deposits (thouaandsH..$ 9,904 + 1 1 Manufacturing employment (area) . 8,140 + 3 + 5 Annnal rate of depoeit turnover. 11.1 -10 6 Percent unemployed (area) . 8.8 3 •• 
Nonfarm placements .. ... ......... . . 118 -20 + 22 Nonfarm placements 	692 

Bank debits (thousande) . . . . . . . . . .$ 10,764 -11 7 Nonfarm employment (area) . 32.350 
9 -2 
JULY 1964 

Percent change 	Percent chanire
Local Business ConditionsLocal Business Conditions 
May 19S4 May 19S4 May 1964 May 1964 May from from May from frpm 19S4 Apr 19S4 May 19S3 City and item 19S4 Apr 19S4 May 1963City and item 
WEATHERFORD (pop. 9,759)UVALDE (pop. 10,293) 
Postal receipts• . . $ 11,345 
+ 2 + 26

Retail sales Building permits, less federal contracts $ 122,200 2
Lumber, building materials, 	-64 
-1 -s End-of-month deposits (thousands) t. $ 13,97S
and hardware stores + 4t + 5 Postal receipts• $ 
9.544 + 10 -30 Building permits, less federal contracts $ IS4,728 + 73 +118 Bank debits (thousands) .$ 12,0S9 -13 WESLACO (pop. 15,649) 
End-of-month deposits (thousands ) t 8,375 3 Annual rate of deposit turnover . . 17.0 -10 Retail sales 
Food stores ..... ........ .... ...... + 2t + 4 -1 Postal receipts.c< $ ll,S55 + 21 + 20 Building permits, less federal contracts $ 19,0SO -7S 98
-
llnnk debits (thousands) . . .... . $ 7,S33 9 + 2 
VERNON (pop. 12,141) End-of-month deposits (thousands) t $ 7,0lS 4 •• 
Annual rate of deposit turnover. 12.8 4 + 2

Postal receiptst.1 12,505 -9 -10 Building permits, less federal contracts $ 109,525 -4S 49
-

Bank debits (thousands) $ 12,880 -13 -19 End-of-month deposits (thousandslt. $ 18,980 + 1 -s WHITE SETTLEMENT: see FORT WORTH SMSA Annual rate of deposit turnover . 8.2 -12 -15 NonfRrnl placements SS -1 SI
-
WICHITA FALLS 

Standard Metropolitan Statistical Area 
VICTORIA (pop. 33,047) (pop. 140,8401 ; Acher and Wichita2 ) 

Retail sales + st + 12 + 12 IOWA PARK (pop. 5,000r) 
Apparel stores 5t 2 + 
Food stores .. + 2t + 3 -I 

Building permits, less federal contracts $ 27,000 -28 -74 
Postal receipts(! . . $ 43,S28 -3

+ llnnk debits (thousands) . . ... $ 3,725 5 -6 Building permits. less federal contracts $ 248,359 -15 -S8 
End-of-month deposits (thousands) t. $ 4,523 + 7 + 10 
Bank debits (thousands ) $ 72,103 + 5 + 12 

Annual rate of deposit turnover . 10.2 7 -14 
End-of-month deposits (thousands)~ $ 84,585 + 2 + 5 
Anr.ual rate of deposit turnover . . 10.3 + 4 + 8 
Nonfarm placements S37 + 5 + 19 

WICHITA FALLS (pop. 101, 724) 
Retail sales + St + 18 + 26 Automotive stores •• + 17 + 29 WAXAHACHIE: see DALLAS SMSA Furniture and household appliance stores + 19t + 12 + 7 
General merchandise stores + 4t + + 84 Building permits, less federal contracts $ 54S,533 -59 -80 Bank debits (thousands) . .$ 137,412 -3 + 7 WACO End-vf-month deposits (thousands)t . .$ 98,453 + l -2 Annual rate of deposit turnover . lS.9 •• + 11 Standard Metropolitan Statistical Area Nonfarm employment (area) . 4S,100 + + 1 Manufacturing employment (area) . 4,160 + 4
(pop. 153,1091 ; McLennan2) 	+ 
Percent unemployed (area) . 3.4 -15 -15 
McGREGOR (pop. 4,642) 

Building permits, less federal contracts $ S2,250 +7S81 + 34 LOWER RIO GRANDE VALLEY Bnnk debits (thousands) . . . .. $ 4,288 2 + 25 End-of-month deposits (thousands) t .. $ 5,S30 + 4 Retail sales + st + 11 + 7 
Annual rate of deposit turnover . 9.1 	Apparel stores 5t + 12 + 20 Automotive stores •• + 16 + 12 Drug stores + 5t + + 6 Eating and drinking places . + 5t -2 + 2 Florists + 49 + 18 
WACO (pop. 103,462) Food stores ...... ..... . .. . . . .. . ..• + 2t + 9 + 7 Furniture and household Retail sales 6 
+ 20 

+ s + 13 + 3 appliance stores + 19t •• + Apparel stores 5t s 1
+ 2 Gasoline and service stations . + st + Automotive stores + 8
•• + General merchandise stores. + 4t + 14 
General merchandise stores. 

+ 4t + 30 + 13 Lumber, building material,Postal receipts• 
$ 208,315 + 10 + and hardware stores + 4t 
Building permits, less federal contracts $ 847,S53 -S4 

-47 Office, store, and school Bank debits (thousands) . .$ 131,905 2 + 29
+ 
5 supply dealers .............. ... . End.of-month deposits (thousands) t. 80,307 s + l

+ 
1 + lS Postal receipts•Annual rate of deposit turnover . + 10


19.8 4 8 Building permits, less federal contracts -14 
Nonfarm employment (area) . 	2
52,500 + + 3 Bank debits (thousands) . . 	5 
Manufacturing employment (area) . 10,S20 	+ 1 + 2
•• + 2 End-of-month deposits (thousands) . 
Percent unemployed (area) . 4.2 	8 +
-5 9 Annual rate of deposit turnover. lS.2 
TEXAS BUSINESS REVIEW 






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 indi­cated; 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) . 
May 1964  Apr 1964  May 1963  Year-to-date average 1964 1963  

GENERAL BUSINESS ACTIVITY  
Texas business activity, index .... . ... .. .. . . ... .. . . .. . . . .. . ..... . . . .  146 .. ~  149.1  142.7r  145.7  135.7  
Miscellaneous freight carloadings in SW District, index  77.1  79.6  79.7  77.5  77.2  
Wholesale prices in U. S.,  unadjusted  index  JOO.I  100.3  100.0  100.5  100.I  
Consumers' prices in Houston, unadjusted index .  106.9  IM.4  107.1  104.7  
Consumers' prices in U. S., unadjusted index .  107.8  107.8  106.2  107.7  106.1  
Income payments  to  individuals in  U. S.  (billions, at  seasonally  ad­ 
justed  annual  rate) . .  . ... .... . .  $  484.8•  $  483.6r  $ 460.1  s  481.2  s  455.8  
Business failures  (number) .  . ... ... . .. . . .... . . .. .  59  34  50  56  50  
Business failures  (liabilities,  thousands)  . .. . ... . . . .  s 4,917  $ 4,047  $ 3,134  $ 5,192  s  4,662  
Newspaper linage, index .  110.6  109.1  109.4  108.1  106.3  
Ordinary life insurance sales, index .  143.7  157.1  143.7  148.2  128.0  
TRADE  
Total  retail  sales, index  122.6•  118.1 •  124.4r  
Durable-goods sales, index .  143.o•  138.2•  143.9r  
Nondurable-goods sales, index .  112.1 •  107.7•  114.4r  
Ratio of credit sales to net sales in department and apparel stores  . .  65.6•  70.5•  66.3r  68.9  70.0  
Ratio of collections to outstandings in department and apparel stores  31.8•  32.0·  32.lr  34.0  33.4  
PRODUCTION  
Total electric power consumption, index ....  165.5•  163.0•  149.4r  158.3  141.7  
Industrial electric power consumption, index .  150.6•  150.8•  134.6r  146.3  131.2  
Crude oil  production,  index .  . .... . .. . . .. . . ... . . ... . . .. . .  101.8•  98.J •  96.3r  98.2  92.2  
Average daily production per oil well  (bbl.)  . . ... . . .. . .  13.0  13.1  12.6  13.1  12.5  
Crude oil runs  to stills, index . . . . . .. . . . . .... .. .. . .. .  116.0  113.7  106.5  113.8  109.5  
Industrial production in U. S., index . . . . .  . ... .. . .. . . . .  130.3•  129.6•  124.5r  128.7  121 .5  
Texas industrial production-total, index .  126•  124•  120r  124  116  
Texas industrial production-manufacturing, index .  142•  141•  133r  141  llll  
Texas industrial production-durable goods,  index  134•  134•  125  134  123  
Texas industrial production-nondurable goods, index .  . . . ... . . .  147•  147•  139r  146  137  
Texas mineral production, index . . . ..... . . .. . .  100•  101 •  104r  102  98  
Cement shipments, index . .  126.7  129.4  113.8  
Cement production, index. . .  . . .. .... . . .. .. . . .. . . . .. . . . . .  126.9  133.1  111.2  
Cement consumption, index . . . . . . . . . . . . . . . . .  . .. . . . . . . .  123.2  123.4  113.2  
Construction authorized, index . . .  . . .. . . .... . .. .... . . . . .  115.8  143.9  136.7  129.0  131.6  
Residential  building,  index .  . . .. . . . .... . .. .  110.4  117.0  133.3  118.6  119.8  
Nonresidential  building,  index .  . . . .. . . . . .  126.5  169.0  144.9  144.6  148.6  
AGRICULTURE  
Pr~ces re~eived by farmers, unadjusted index, 1910-14=100 . . . . .  245  253  258  253  263  
Pnc_es paid by farmers in U. S., unadjusted index, 1910-14=100 .. . . .  314  314  311  313  311  
Rauo of Texas farm prices received to U. S. prices paid by farmers  78  81  83  81  85  
FINANCE  
Bank debits,  index .. . .. . .  146.6  149.5  142.7  146.4  135.8  
Bank debits, U. S., index .... . .. ... .... .  157.9  168.7  148.8  160.4  147.3  
Reporting member banks, Dallas Federal Reserve District:  
Loans  (millions)  . . . .  $ 4,124  $ 4,085  .$  3,581  $ 4,071  $ 3,547  
Loans and investments  (millions)  $ 6,169  $ 6,161  $ 5,714  s  6,146  $ 5,694  
Adjusted demand deposits  (millions) .  .$  2,840  $ 2,771  $ 2,828  $ 2,835  s  2,879  
Revenue receipts of the State Comptroller (thousands) ... .. . . . . .. . . .  $217,685  $179,858  $232,411  $158,311  $150,381  
LABOR  
Manufacturing employment in Texas,  index . . . . . .  109.0•  108.6•  106.2r  108.3  105.1  
Total nonagricultural employment in Texas, index .  111.1 •  ll0.9r  108.8r  110.6  107.9  
Average weekly hours-manufacturing,  index .  102.2•  102.5•  102.0r  101.7  100.8  
Average weekly earnings-manufacturing, index .  117.5•  11 s.1 •  I 13.8r  116.3  111.7  
Total nonagricultural employment  (thousands)  . . . . . .. . .. . .  2,742.7•  2,736.9r  2,687.4  2,715.4  2,650.1  
Total manufacturing employment  (thousands)  . . . .. .... .. . . .  526.5•  524.9r  512.6r  522.9  507.0  
Durable-goods employment  (thousands) ..  261.4•  259.2r  250.2  257.0  245.0  
Nondurable-goods  employment  (thousands) . . . ... . . . .  265.I •  265.7•  262.4r  265.8  262.0  
Total nonagricultural labor force in selected labor market areas  
(thousands)  . . . . . . . . . . . . . . . .... ... . . . . . . . .. ......... . ... .  2,484.0  2,474.I  2,434.4  2,472.7  2,41 5.8  
Employment in selected labor market  areas  (thousands) . . . . .. . .  2,338.4  2,330.7  2.266.8  2,318.4  2.240.5  
Manufacturing employment in selected labor market areas  
(thousands)  . . .. . . ... .. .. . . . . . .. . . . . .. . .  424.2  422.8  404.8  420.2  399.3  
Total unemployment in selected labor market areas  (thousands) . .  89.2  88.9  102.0  103.6  115.8  
Percent of labor force  unemployed in selected labor market  
areas  . ... . . . .... . . . .. . . .... . .... . . . . . . .. .. . . . . .. .. . .  3.6  3.6  4.2  4.2  4.8  

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ECONOMIC STATISTICS OF TEXAS 
1900-1962 
Francis B. May and Florence Escott 
Long-term statistics are vital to an understanding of the de­velopment of the state, and now forty-one time series of data on the Texas economy have been compiled in this new publica­tion of the Bureau of Business Research, bringing together historical data that apply to agriculture, trade, manufacturing, and minerals. 
A general section contains time series on population, employ­ment, income, finance, foreign trade, transportation, and con­struction. The agricultural section contains data on crops and livestock in Texas. Most of the series in these two sections date back to 1900. 
Retail, wholesale, and service statistics are included in the trade section of the publication. These data go back as far as 1930 for a clear perspective on current trends. 
Statistics for 18 industries in Texas are shown in the manu­facturing section. These data are taken from annual surveys and censuses and are useful in any study of manufacturing development in Texas. Dating from 1939, the time series in the section also include an industry breakdown of value added by manufacture from 1939 through 1961. 
Minerals, long important to the state's economy, are described statistically in time series covering petroleum, natural gas, portland cement, sulfur, and salt. 
$1.50 
Order Your Copy from 
BUREAU OF BUSINESS RESEARCH 
(Texas residents add 2% sales tax)