B APRIL 1965 
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.._,UL 
THE LiBR ARY 

A Monthly ummary of Busine.. ancl E conomic Conditions m T exas 
BUREAU OF BUSIKESS RESEARCH: THE UNIVERSITY OF TEX.A. 
TEXAS BUSINESS REVIEW VOL. XXXIX, NO. 4, APRIL 1965 
Editor: Stanley A. Arbingast I Associate Editor: Robert H. Ryan I Managing Editor: Robert H. Drenner 
Editorial Board : Stanley A. Arbingast, Chairman; John R. Stockton, Francis B. May, Robert H. Ryan, Robert H. Drenner 

CONTENTS 

93: 	THE BUSINESS SITUATION IN TEXAS by John R. 
Stockton 

96: 	ECONOMIC DEVELOPMENT AND POPULATION SHIFTS IN THE SOUTHWESTERN STATES SINCE 1920 by Stephen 
L. McDonald 

104 : TEXAS RETAIL SALES IN FEBRUARY by Robert B. Williamson 
106: 	TEXAS BUILDING CONSTRUCTION AUTHORIZED IN FEBRUARY by Francis B. May 
CHARTS, MAPS, AND TABLES 

93: 	TEXAS BUSINESS ACTIVITY 
94: 	
TEXAS INDUSTRIAL PRODUCTION 

94: 	
SELECTED BAROMETERS OF TEXAS BUSINESS 

94: 	
TEXAS INDUSTRIAL PRODUCTION, TOTAL 
MANUFACTURES 



95: 	
TEXAS INDUSTRIAL PRODUCTION, MINING 

95: 	
INDUSTRIAL ELECTRIC POWER USE IN TEXAS 



95 : 	BUSINESS ACTIVITY INDEXES FOR 20 TEXAS CITIES 
97: 	RATES OF NET MIGRATION, SOUTHWESTERN STATES, BY DECADES, 1920-60 
98: 	RATES OF NET MIGRATION BY RACE, SOUTHWESTERN STATES, BY DECADES, 1920-60 
99: 	
POPULATION DENSITY IN THE SOUTHWESTERN STATES, 1920 

99: 	
POPULATION DENSITY IN THE SOUTHWESTERN STATES, 1960 



100: 	POPULATION CHANGE IN THE SOUTHWESTERN STATES, 1920-1930 
101 : POPULATION CHANGE IN THE SOUTHWESTERN STATES, 1930-1940 
101: 	POPULATION CHANGE IN THE SOUTHWESTERN STATES, 1940-1950 
102 : 	POPULATION CHANGE IN THE SOUTHWESTERN STATES 1950-1960 ' 
103: 	CORRELATION COEFFICIENTS -DEPENDENT VARIABLE: MIGRATION RATES BY COUNTY-FOUR STATES IN THE SOUTHWEST, 1950-60 
103 : TEXAS INDUSTRIAL PRODUCTION, DURABLE 
MANUFACTURES 

103: 	TEXAS INDUSTRIAL PRODUCTION, NONDURABLE 
MANUFACTURES 

104 : 	ESTIMATES OF TOTAL RETAIL SALES IN TEXAS 
104: 	RETAIL SALES TRENDS BY KINDS OF BUSINESS 
104 : 
CREDIT RATIOS IN DEPARTMENT AND APPAREL STORES 

105: 	
TEXAS RETAIL TRADE : 1958 AND 1963 

105: 


TEXAS RETAIL SALES, TEXAS AND MAJOR METROPOLITAN AREAS, 1963 AND 1958 

106: 	
BUILDING CONSTRUCTION AUTHORIZED IN TEXAS, 1961-1964 

106: 	
NONRESIDENTIAL BUILDING AUTHORIZED IN TEXAS, 1961-1964 


107: 	
BUILDING CONSTRUCTION AUTHORIZED IN TEXAS 

107: 	
ESTIMATED VALUES OF BUILDING AUTHORIZED IN TEXAS 


108 : 	LOCAL BUSINESS CONDITIONS 
BUSINESS RESEARCH COUNCIL 

John Arch White, Dean of the College of Business Admin­istration (ex officio); John R. Stockton, Jim G. Ashburne, Jessamon Dawe, James R. Kay, Stephen L. McDonald, Kenneth W. Olm, 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 
Consulting Statistician: Francis B. May 
Administrative Assistant: Juanita Hammons 
Research Associate: Charles O. Bettinger, Robert H. 

Drenner, Louise K. Iscoe, Joe H. Jones, Ida M. Lambeth, Robert M. Lockwood, Margaret Paulissen, Helmut J. Rehder, Robert H. Ryan, Elizabeth R. Turpin, Joyzelle Wilke, Robert B. Williamson 
Research Assistant: Thomas B. Douglas, Jackson Gil­more, Dennis Hiser, Donald E. Kirsopp, Harold L. Sides, John Specht, Jr., William W. White, Robert Wood 
Administrative Secretary: Margaret F. Smith Senior Secretary : Diana Rausch Senior Clerk Typist: Patricia Gable, Claire Howard, 
Carollin Mayes, Sharon Wheat Cartographer: Lois Leonard Library Assistant: Merle Danz Statistical Assistant : Mildred Anderson, Constance 
Coo ledge Statistical Technician: Mary Gorham Clerical Assistant: Pamela Binkley, Ross Kammlah Offset Pres8 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 Bus' R h C II f . . . 	. 78712
Second-class postage paid t A ·t · T 1c;ess esearc •_ o eg~ o Business Adm1n1strat1on The University of Texas, Austin, Texas, i oource will be appre<:· led as b us .'nt" e~a.sontent o~ th1~ pubhca.t1on is not copyrighted a~d may be reproduced freely. Acknowledgment O 
1a · 	u scrip ion, • 3. ·00 a year; md1v1dual cop1e3, 25 cents. 

THE BUSINESS SITUATION IN TEXAS by John R. Stockton 
TEXAS BUSINESS ACTIVITY 


The index of business activity in Texas rose 5'/c in February to carry this barometer of business to another record high. This rise continued an upswing that has broken all previous records for a sustained improvement in business. Not only has the length of the rise in the business indexes been a record; it is particularly signifi­cant that the rise started at a very prosperous level. The last downturn in activity that ended four years ago was mild and brought about only a slight adjustment in the level of Texas business. 
The February level of the index was 9% above the level of a year earlier, and for the first two months of 1965 the index also averaged 9% higher than for the sam~ period of 1964. The improvement over a year ago was spread over all sections of the state. The Texas business activity index is based on total checks charged against bank deposits and is a measure of total business trans­actions. This information is available for 20 cities in the state and thus gives a comparable basis for comparing changes in business in different areas. Only one-fourth of the cities reported a decline in bank debits to individual accounts for the first two months of 1965 over the same period of 1964, which gave a rather overwhelming pre­ponderance of improvement throughout the state. 
Not only has the rise continued to be widely based, but it continues at a brisk rate that at the present time shows no sign of slowing its pace. In fact, the buoyancy of the economy is greater than a year ago, when signs were de­veloping that suggested the end of the boom might bP. approaching. 
One of the factors that has contributed greatly to the rise in Texas business over the past four years has been the expansion of industrial activity, resulting in the building of new industrial plants and the expansion of existing plants. No adequate statistical data are available on the expenditures for new plant and equipment in Texas, but the compilation of additions to the industrial capacity of the state published by the Bureau of Business 
o~~J__~.J_~-L~~Q(___l~~L-_.lS.2!.l!:JQl_~~-=-_._~:--'--:-:--:--"-:-::--=--o 
1954 '55 '56 '57 '58 '59 '60 '61 '62 '63 '64 '65 
NOTE: Shaded a r eas indicate periods of decline of total business activity in the United States. 
TEXAS I OUSTRIAL PR.OOUCTIO • 


·s 1. '',58 
• Manu.(ac111rln1 and mlnln1 (includlna crude-oil and natural·&•• pt'oduction), NOTE: Shaded a reu lndlntt period• o( decline o( tota l bu1lne11 aclivity in the United Statu. 

Research in its monthly bulletin Texas Industrial Expan­sion, indicates a healthy expansion of the industrial plant of the state. 
Statistical data compiled on a national basis support this conclusion suggested by the information available for Texas. Expenditures for new plant and equipment in the United States are compiled by the Securities and Exchange Commission and the Department of Commerce. The latest survey of these expenditures, made in February, shows that 1964 expenditures were 14% higher than expendi­tures in 1963, and it was from this increased appropria­tion of business concerns for capital expansion that the Texas industrial growth was financed. 
The February survey further indicated that 1965 ex­penditures were expected· to increase 12% from the record investment of $44.9 billion in 1964. It has been pointed out that this is a decrease from the rate of gain of last 
SELECTED BAROMETERS OF TEXAS BUSINESS 
(Indexes-Adjusted for seasonal variation-1957-59=100) 

Percent change  
Index  Feb 1965  Year-to­date Year-to­average date Feb 1965 1965 Jan average from from 1965 1965 Jan 1965 1964  

Texas business activity . . . ... 16l.9 154.5r 158.2 + 5 
+ 9 

Crude petroleum production 94.0* 95,7• 94.9 -2 •• Crude oil runs to stills.... .... ... 112.2 112.1 112.2 •• 2 Total electric power use .. .165.5* 16l.7* 163.6 + 
+ 7 

Industrial electric power use. 158.8* 15L.O• 154.9 + 8
+ 

Bank debits ......163.8 156.0 159.9 + + 10 Miscellaneous freight carload­ings in S.W. district 74.3 77.4 75.9 4 3 Ordinary life insurance sales.... . 163.6 142.9 153.3 + 14 3
+ 

Total retail sales. 127.3* 133.0• -4 4
+ 
Durable-goods sales ... 134.3• 150.0* -10 6
+ 

Nondurnble-goods sales ... . 123.6* 124.2* •• Building construction authorized 118.5 113.0 115.8 + 5 -11 
+ 3 
New residential 90.0 106.2 98.1 -15 

-18 New nonresidential 15l.5 113.3 132.4 + 34 -13 TolRI industriRI production 130.7* 129.9• 130.3 + 1 
+ 5 

Total nonCnrm employment. 115.4* 115.0r 115.2 •• 
+ 3 

MRnufacturing employment 113.2* 112.6r 112.9 + 
+ 3 

Tolal unemployment 99.7 97.2 98.5 + 
-11 ln•url'<I unemployment 88.1 89.1 88.6 
-16 Averaste weekly ea rnings­
mttnufacturing 
.119.1• 119.lr 119.l •• 
+ 4 

A vt•rnge weekly hours­mRnufa.C'turing 
102.2• 10l.4r lOl.8 + 1 
+ 
0 PreliminRry. 
"rRevi~ed. 
••Change is less than one-half of 1%. 
TEXAS I OUSTRIAL PROO CTrON, 
TOTAL MANUFACTURES 




1954 '55 '56 '57 '58 '59 '60 '61 '62 '6:1 '64 '65 
NOTE: Shaded area• indicate period• ol decline ol total busineu activily In lhe Unlled Stuu, 

year, but the difference is so little that it cannot be intel'· preted to be an indication of any slowing down of the current boom in industrial expansion. Manufacturing is expected to increase capital expenditures by 16% over last year, railroads by 15%, public utilities by 6%, and com­mercial and miscellaneous by 10%. It is to be expected that Texas industry will share in these increased expen­ditures, which will contribute substantially to the growth of the economy. 
The expenditure by business concerns for new plant and equipment represents one of the most important indicators of the course of Texas business, but also ranking high in importance is the level of inventories held by business. The level of total business inventories climbed steadily throughout 1964 and has continued to rise in the first two months of 1965. At the same time that inventories have been rising, the volume of sales has also increased in proportion, so there is no indication that excess stocks of goods are accumulating. The Department of Com­merce survey of manufacturers in February asking what they, expected to happen to inventories discovered that manufacturers believe that additions to inventories will amount to $700 million in the first quarter of 1965 and $900 million in the second quarter. These rates of increase exceed those registered a year ago, and although these reports do not refer specifically to Texas businesmen, there is no evidence in the information for the state to indicate that this same trend will not be followed in Texas. It appears that business will continue to invest in increased inventories in anticipation of a further rise in business volume. 
Retail sales by nondurable-goods stores in February 
rE:mained unchanged from January after adjustment for 
seasonal variation, but durable-goods stores declined 10%, 
bringing the total of retail sales for February 4% below 
January. However, sales for the first two months of 1965 
were 4% ahead of the same period of last year, so there 
is no reason to consider this to be other than an erratic 
fluctuation for this one month. The Office of Business 
Economics of the United States Department of Com­
merce reported that consumer income for the United 
States increased very slightly in February in comparison 
with January, but January income included a special 
nonrecurring dividend paid to veterans holding govern­
ment life insurance. If this special payment is excluded, 
the increase of February over January was 0.5'/o, about 
equal to the average monthly rise during the last half of 
TEXAS BUSINESS REVIEW 

TEXAS I DUSTRIAL PROD CTIO , Ml I 'G • D STRIAL ELECTRIC PO ER E IN TE 

0 
1954 '55 '56 '57 '58 '59 '60 '61 '62 '63 '64 '65 
• Include• crude-oil and noa111n.l·J&• production. 
NOTE: Shaded aru1 Indicate period• or d1din1 of toul bud~eu acllvity in the United SU.tu. 

1964. Since Texas veterans received this special dividend in January, it is not unreasonable to assume that this was a factor in raising the level of sales in January higher than in February. The strong rise of sales for the first two months over the first two months of last year sup­ports the conclusion that Texas business is continuing its upward course. 
The construction industry has been one of the most im­portant elements in the business situation in Texas as year after year the investment in building has continued to oler strong support to business. Total value of building permits issued in Texas cities in 1964 was at an all-tim~ high, but the first two months of 1965 have witnessed a 11\lbatantial decline. Residential building permits for the ftrat two months of 1965 were 18% below the first two months of 1964, and nonresid'ential permits were down 18% over the same period. Construction has been one of the major supports of the last four prosperous years, al­thourh there have been some major shifts in the kinds of building. 
The significance of the decline in building in 1965 ia not yet clear. It is rather generally agreed that apart­ments in Texas as well as in the rest of the country have been overbuilt, and there is some indication that residen­tial building may shift its emphasis back to single-family houses. The continued high level of business seems to indicate that nonresidential construction is not likely to show any prolonged decline. It should also be recognized that the various segments of the economy are strong enough to absorb a decline in one phase of business with­out starting a general recession. It normally requires a slowing down in more than one phase of business to bring about a substantial decline, and at the present time the building industry is the only one that shows any signifi­cant decline. 
Manufacturing activity in Texas during February in­creased slightly more than 1% from January, as measured by the index compiled by the Federal Reserve Bank of Dallas. Mining activity declined 1 % with the result that the index of total industrial activit; increased somewhat lea than 1%. Both durable and nondurable manufactures shared in this rise. Crude oil production in February wa~ down 2% from January and for the first two months of 1965 averaged the same as for the first two months 
of 1964. . Consumption of industrial electric power increased 5% fro~ January, giving a somewhat more optimistic indi­cation than the index of manufacturing activity. The con-

200 150 
I 00 
50 0 
NOTE: Shaded • re&I lndlc:at• ptriod1 of decline ot tot•I bu11ne11 11ctiri1y In the United SL1t.1t.1. 

sumption of electricity by industrial users is related to industrial activity, since there is a close relationship be­tween the amount of power consumed in a plant and the output of the plant. Manufacturing employment in Feb­ruary increased 0.4% from January, but average weekly hours worked in manufacturing plants increased 1<Jc . The increased' number of hours worked per week is an indica­tion of continued strength in this segment of the economy of the state, since the first effect of a slowing down in industrial activity is a reduction in the average number of hours worked. This series does not change abruptly, so even the modest increase suppo1ts the view that indus­trial activity showed strength in February. 
The price level continues almost without change from a year ago. One of the striking characteristics of the present high level of business activity is the absence of any tendency for prices to rise. It has been almost in­evitable that increased economy activity over a long period exerts an upward pressure on prices. Rising prices are considered one of the signs that a boom may be near­ing its end·, but at the present time no such indication is apparent. 
BUSINESS ACTIVITY INDEXES FOR 20 SELECTED TEXAS CITIES 
(Adjusted for seasonal variation-1957-59= 100) 

Percent change  
Cit y  Feb 1965  Jan r 1965  Year-to­date average 1965  Feb 1965 from Jan 1965  Year-to­date averaae 1965 from 1964  

Abilene . ... . 128.2 138.0  133.l  -7  + 3  
Amarillo 155.5 162.6  159.1  -4  + 14  
Austin ... 178.2 155.6  166.9  + 15  + 3  
Beaumont ....146.4 148.4  147.4  -l  + 9  
Corpus Christi .122.9 120.2  121.6  + 2  
Corsicana .. 132.8 125.8  129.3  + 6  + 7  
Dallas .193.8 164.7  179.3  + 18  + 18  
El Paso .. 125.2 120.9 Fort Worth .124.2 116.4  123.l 120.3  + 4 + 7  + l ••  
Galveston ....101.7 107.1  104.4  -5  4  
Houston .165.l 167.3  166.2  1  + 9  
Laredo 150.2 153.3  151.8  2  + 8  
Lubbock .. 142.7 183.3  163.0  -22  7  
Port Arthur 102.5 105.6 Sa n Angelo .... 123.2 131.6  104.l 127.4  3  3 ••  
San Antonio . . .. . 146.3 142.6  144.5  + 3  + 5  
Texarkana .154.4 165.0  159.7  6  3  
Tyler ....143.0 137.9  140.5  + 4  + 8  
Waco .. 142.6 141.2  141.9  + 1  + 5  
Wichita Falls 134.4 129.9  132.2  + 3  + 5  
..Change is less than one-half of 1%·  
rRevised.  


ECONOMIC DEVELOPMENT AND POPULATION SHIFTS 
IN THE SOUTHWESTERN STATES SINCE 1920 

Stephen L. McDonald~ 
I. Introduction 
In the first article in the present series on the recent economic development of the Southwest' it was shown that in the typical year since 1920 per capita personal income grew more rapidly in the Southwestern states than in the United States as a whole. Per capita personal income in the Southwest rose from about 72% of the national aver­age in 1920 to just under 80% in 1963. However, this rel­ative growth was confined almost entirely to the decade of 1940-50. Indeed, the ratio of Southwestern to national per capita personal income declined from 72% in 1920 to 60% in 1932, and only recovered its 1920 level in 1942, the first full year of United States participation in World 
War II. It then rose steeply to about 82% in the early 'fifties and remained at that general level until 1958. Since 1958 the ratio has drifted downward to slightly less than 80%. 
In general, each of the states in the Southwest experi­enced a pattern of growth in per capita personal income relative to the national average similar to the pattern just described for the region as a whole. However, the differ­ence among state per capita personal incomes narrowed substantially between 1920 and 1963, due largely to the marked relative gains of Arkansas, the lowest-income state in the region. Arkansas was the only state in the Southwest to enjoy a faster growth of per capita personal income after 1958 than the United States as a whole. 
It was also shown in the earlier article that relative 1·egional and state rates of population growth, in part re­flecting interstate migration, go far to explain relative rates of per capita personal income growth. Over the whole period since 1920 the Southwest's population grew at almost identically the same rate as the nation's, but there were significant subperiods in which the two growth rates differed. It was in the subperiods in which the re­gion's population grew more rapidly than the nation's that the ratio of Southwestern to national per capita per­sonal income declined. The several states of the Southwest while generally sharing the region's pattern of relativ; growth in per capita personal income, experienced widely' different rates of population increase from 1920 to 1963. Per capita personal income grew most rapidly in the state (Arkansas) where population increased most slowly. In the state experiencing the most rapid population in­
•Th~ author is Professor of Economics at The University of Texas. He wishes to acknowledge with gratitude the research assistance of Mrs. Anne Brown and Messrs. Peter Coltman and Charles Richey, 11:rad­
uate atudenta in economics at The University. 
'Stephen L. McDonald, "Growth of Per Capita Personal Income in the Southwestern States since 1920," Texas Business Review Vol XXXVlll, No. II (November 1964). pp. 276-281. The South,.;est i~ defined Ra the states of Arkansas, Louisiana, New Mexico, Oklahoma 
and _Texas. The research underlying the series of articles was made 
possible by R 11:rant to the Department of Economics by Resources for the Future, Inc. 
crease (New Mexico) per capita personal income grew no more rapidly than the regional average. These findings strongly suggest that the relative growth of per capita personal income in regions and smaller areas cannot ade­quately be explained without reference to migration in re­sponse to differential economic opportunity. 
II. Migration in the process of economic development 
The economic development of an area as large and diverse as the United States is almost inevitably charac­terized by continuous change in the regional structure of economic opportunity. This is true because the usual causes and consequences of economic development tend to shift the pattern of comparative advantage among regions and to alter the structure of product demands. Unless these two types of changes are by coincidence exactly offsetting, they result in a faster growth of demand for the products of some regions than of others. They therefore result in a faster growth of income­earning opportunity-for workers, capitalists, landowners and entrepreneurs-in some regions than in others. 
The pattern of comparative advantage among regions is shifted primarily by technological change, which is the essential ingredient of economic development in the long run,2 and secondarily by the depletion of exhaustible natural resources in some regions. Technological change economically creates new natural resources by creating new demands for, or by reducing the costs of utilizing, certain aspects of the natural environment. The new resources usually at least partially displace some old ones. Technological change also creates new products and techniques, which often require combinations of resource inputs different from those required by the products and techniques displaced. Since regional natural endowments differ qualitatively, the most economical sites for the new productive activities made possible by technological change may be located in different regions than the pro­ductive activities displaced.3 For similar reasons, the regions experiencing depletion of high-grade natural re­sources tend to lose locational .advantage over regions 
originally less richly endowed. 
'This is not to deny the importance of investment in economic devel­opment. In sparsely populated or undercapitalized countries which need only apply extensively an available technology, increase in the stock of capital may be the primary factor in development. But In settled, well­cnpitalized countries already employing advanced technology, ouch aa the United States today, the ability to raise per-worker output by means of mere addition to the capital stock is severely limited. Indefi­
nite increase in productivity requires continuous technological Im­provement. 
8An example of particular relevance to the economic development of 
the Southwest is provided by the relative displacement of coal by petrc· kum, which became a major natural resource with the perfection of the 
internal combustion engine and the consequent rise of automotive and air transportation. The primary petroleum-producing regions are dif­
ferent from the primary coal-producing regions. 

As per capita real income ·grows and the variety of consumable products expands with economic development, the structure of relative consumer demands undergoes continuous modification. Consumer demands tend to shift relatively toward the new, the more expensive, the less essential products. To cite some familiar examples, the demands for recreation, education, medical care and luxury goods tend to grow more rapidly than the de­mands for food, clothing, and shelter; the demands for 
fresh meats, fruits and green vegetables tend to grow more rapidly than the demands for cured meats, potatoes and grains. Given the pattern of comparative advantage among regions, such shifts in relative product demands reflect themselves in corresponding shifts in the relative demands for regional outputs. 
As some of the foregoing examples imply, economic development usually is accompanied by decline in the rel­ative demands for the principal agricultural products, from grains to natural fibers. The result is a decline not only in the relative demands for rural (vs. urban) pro­ducts of all regions, but a decline also in the relative demands for the total outputs of those particular regions with a comparative advantage in the production of staple agricultural commodities. 
Since economic development continuously alters the regional structure of income-earning opportunity, it is coincidental indeed when the demands for productive resources-labor, capital, natural resources and entre­preneurship-in each region grow in relation to the in­digenous supplies of them at exactly the rates required to maintain interregional per capita income parity. Such coincidence is rare; in relation to indigenous supplies, demands for productive resources tend to grow more rap­idly in some regions than in others. Per capita incomes in such regions therefore tend to rise relatively, creat­ing an incentive for mobile resources to migrate from other regions. If all owners of mobile resources were fully knowledgeable of alternative opportunities and there were no costs of migration, movements of productive re­sources from lower-to higher-income regions would quickly restore an initial interregional per capita income 
parity.• With perfect mobility, therefore, migration in response to differential income-earning opportunity both maximizes income and provides the continuous reallo­cation of productive resources required to satisfy the changing structure of demands incidental to economic development. 
But mobility is always less than perfect. Owners of productive resources are seldom fully informed of al­ternative opportunities. More importantly, the migration of persons-workers and entrepreneurs-is costly, par­ticularly where long distances and major environmental changes are involved." Consequently, in a developing econ­
'Strictly speaking. free mobility of productive resources only tends to equalize the returns to qualitatively equal resources-and then only if marketa are competitive and arbitrary discrimination is completely a-.it. Interreirional per capita income differences may arise and per­1ilt a1 the reeult of racial or other arbitrary discriminP.tions in training and/or hiring. or as the result of differences in resource qualities. worker-papulatlon ratios and occupational (skill) structures. 
'Some of the costs are purely psychic (e.g.• separation from a familiar -ial environment), but they are no Jen real as barriers to migration. 
omy substantial disparity in regional per capita incomes may arise and persist over time, the equalizing resource reallocations being held in check by the costs of migra­tion. Such a disparity may persist indefinitely if the shifts in the structure of income-eaming opportunity incidental to economic development consistently favor particular re­gions. Thus, for instance, students of the "farm problem" have long recognized that the persistence of relatively low incomes in agriculture (hence in agricultural regions) may be attributed to persistent decline in the relative demand for farm products combined with barriers to farm-urban migration.• An interregional per capita in­come disparity arising from resource immobility may be reduced by improved knowledge or reduced costs of migra­tion, but it could only be eliminated by a shift in the structure of income-earning opportunity in favor of the 
lower-income regions. 
The foregoing discussion suggests that interregional 

migration is a normal, functional part of the general 
process of economic development, and that regional dif­
ferences in per capita income may reflect imperfect mi­
gratory responses to differential economic opportunity. 
It further suggests that migration among the Southwest­
ern states and between the Southwest and the rest of the 
United States may help explain observed changes in rela­
tive per capita incomes since 1920. 
Ill. Rates of migration into or out of the Southwestern states since 1920 
Table I shows rates of net migration (the algebraic sum of in-and outmigration) for each state and for the Southwest as a whole, by decades, 1920-1960, expressed as percentages of population in the initial year of the decade.' Positive signs in front of the percentages in­dicate net inmigration, negative signs net outmigration. 
Taltle I 
RATES OF NET MIGRATION, SOUTHWESTERN STATES, 
BY DECADES, 1920-60 
(Percent of initial population) 
State 1920-30 1930-40 1940-50 19&0-60 

Arkansas  -10.9  - 7.0  -21.3  -22.7  
Louisiana  - 1.3  + 0.3  - 6.2  - 1.9  
New  Mexico  - 6.4  + 4.5  + 3.0  + 7.8  
Oklahoma  2.6  -11.2  -18.6  - 9.8  
Texas  + 5.2  1.3  + 1.1  + 1.5  
Southwest  0.4  3.5  - 6.7  - 3.5  

Here it can be seen that Arkansas experienced relatively high rates of outmigration in all four decades of the period, but especially in the last two. Oklahoma likewise experienced net outmigration in all four decades, but the peak rates occurred in 1930-40 and 1940-50; also the rates were lower than in Arkansas in all decades except 1930-1940. There were mod.est rates of outmigration from 
GFor a development of this thesis and references to supporting litera ature, see Stephen L. McDonald, ..Farm Outmigration as an Integrative Adjustment to Economic Growth," Social Force•. Vol. 34, No. 2 (De­cember JU-;5), pp. 119-128. 
'The percentages in Table I were computed by the author from orig­il'ai data in U. S. Department of Commerce, Hiatorical StatU.tic• of the United Statea and Statistical Abstract of the United Stain. 

Louisiana in all decades except 1930-40, the highest rate occurring in 1940-50. Substantial inmigration was the rule in New Mexico after 1930, especially in the decade of 1960-60. Texas experienced substantial inmigration in the 'twenties, modest outmigration in the 'thirties and equally modest inmigration in the last two decades of the period. Taking the region as a whole, there was net outmigration in every decade, but the rate was negligible in the period 1920-30. The peak rate of outmigration from the Southwest occurred in the decade 1940-50. 
In the light of the behavior of relative per capita in­comes, these data suggest that income-earning opportunity in the Southwest has not grown rapidly enough since 1920 to absorb all the natural increase in the region's labor force and at the same time raise the ratio of Southwestern to national per capita income. Only when the rate of out­migration from the region was above 3.6'/o per decade 
(1940-60) did the Southwest make substantial relative income gains. When the rate of outmigration from the re­gion was below 3.6% per decade (1920-30) the ratio of Southwestern to national per capita income declined. Within the Southwest, income-earning opportunity ap­pears to have grown most rapidly in Texas and New Mexico, least rapidly in Arkansas and Oklahoma. Migra­tion into the former states and out of the latter has been more than sufficient to offset the differences in oppor­tunity, however, so that the range of state per capita incomes within the region has been significantly reduced. Of particular interest is the fact that between 1940-50 and 1950-60 the rate of outmigration decreased' or the rate of inmigration increased in all of the Southwestern states except Arkansas. In Arkansas the rate of outmigration increased from 21.3% in 1940-50 to 22.7% in 1950-60; and Arkansas was the only state in the region to make significant gains in per capita income relative to the na­tional average in the decade of the 'fifties. 
In some states before 1940 and in all states after 1940, outmigration from the Southwest was selective of non­whites. (See Table 11.") In Arkansas and Oklahoma in 1920-30, and in Arkansas, Oklahoma and Texas in 
Table II RATES OF NET MIGRATION BY RACE, SOUTHWESTERN 

STATES,  BY DECADES,  1920·60  
(Percent of initial population)  
1920-30  1930-40  1940-50  1960-60  
State  Non-White white•  Non-White white•  Non-White white••  Non-White white••  

Ark. -11.3 -9.7 -7.0 -6.9 -17.6 -32.4 -19.1 -35.0 La. + 0.3 -3.7 + 1.1 -1.0 -0.2 -17.0 
+ 2.4 -10.4

N. M. 
-6.6 -50.0 + 5.1 +67.0 + 3.4 -1.5 + 8.5 -2.9 Okla.. -3.0 1.3
+ -12.5 -1.7 -17.1 -31.5 -9.5 -13.0 Tex. 
+ 6.6 + 1.3 -1.8 + 0.6 + 3.2 -10.0 + 2.1 -2.7 
•Negroes only. 
••Negroes, orientals and American Indians. 


1930-40, outmigration was selective of whites. In the other two decades the nonwhite rate of outmigration was much higher than the white rate in Arkansas and Oklahoma ; and Louisiana, Texas and New Mexico expe­
'The percentaites in Table JI were computed by the author from data derived from the same sources as Table I. 
rienced high rates of nonwhite outmigration concurrently with substantial rates of white inmigration. The rela­tive tendency of nonwhites to migrate from the region was stronger in the 'forties than in the 'fifties. 
It is significant that outmigration from the Southwest­ern states was selective of nonwhites, particularly after 1940, because the proportion of nonwhites to total pop. ulation is higher in Arkansas, Louisiana and Texas than in the United States as a whole,' average nonwhite in­comes are lower than white incomes in all regions,10 and, due to historical segregation practices, income-earning opportunities for nonwhites are probably somewhat more restricted in the Southwest than in the North and the West. The pattern of selectivity in outmigration thus sup­ports the presumption that migration has tended to equalize regional per capita incomes. The pattern helps explain the marked relative gain in per capita personal income experienced by the Southwest in the 'forties. For further insight into the significance of migration, we now consider population shifts within the several states of the Southwest. 
IV. 	Population shifts within the Southwestern states since 1920 
To analyze population shifts within states it is neces­sary to rely on county Census data. Since there are so many counties in the Southwest, a quick grasp of the data and their meaning is facilitated by the use of maps. Maps I and II show the major contours of population density in the Southwest in 1920 and 1960, respectively, density increasing from the lightest to the darkest areas on the maps.11 So as to embrace the wide range of densities with a manageably small number of contours and yet discriminate between significantly different den­sities in rural areas, the selected contour intervals increase (after the first open-end'ed interval) in geo­metric proportions: less than 2.5 persons per square mile, 2.5-4.9 p/ sm, 5.9-9 p/ sm, 10-19.9 p/ sm, etc. The contours are located by plotting actual county population densities on the geographical centers of counties (or on the centers of large cities where such are present in counties) and spatially interloping between adjacent county densities to selected contour values. For example, the contour denot­ing population density of 20 persons per square mile would be drawn one-half the distance between the centers of adjacent counties having population densities of 10 per­sons per square mile and 30 persons per square mile, re· 
0In 1960, nonwhites accounted for 11.4% of the total U. S. population. The corresponding percentages in the Southwestern states were: Ar­kansas, 21.8; Louisiana, 32.1; New Mexico, 7.9; Oklahoma, 9.5; Texa1, 
12.6. (U. S. Department of Commerce, Cen8"s of Population, 1920, l!l30; and St<ttistiral Abstract of the United States.) 
' 0 !for the United States as a whole in 1959, the year of reference of the 1960 census, the median income of urban nonwhite families WRI about two-thirds as large as the median income of urban white fam­ilies, while the median income of farm nonwhite families was only about one-third as large as the white counterpart. The ratios were similar In the Southwestern states. (U. S. Department of Commerce, C•,..... of Population, 1960.) 
"All the maps in this article, Nos. I-VI, were designed by Mr. Peter Coltman and drafted by Mr. Charles Richey under the supervision of the author. Mr. Coltman also compiled the population data represented on the maps. The data are from Centua of PopulatiO'PI, 1920, 1980, 1940, 1950 and 1960. 
TEXAS BUSINESS REVIEW 


Map 2: POPULATION DENSITY IN THE SOUTHWESTERN STATES, 1960 

spectively. This method of constructing the maps makes it impossible to read off exact county population densities, but it results in an effective representation of the gen­eral geographical pattern of population density in the Southwest. 
A comparison of Maps I and II reveals several striking changes in the pattern of population density in the South­west between 1920 and 1960. In 1960 the urban centers are more sharply defined, indicating a more pronounced dif­ference between the population densities of urban and adjacent rural counties. In addition, a greater number of substantial urban centers is in evidence in 1960 than in 1920, particularly in the western half of the region. In 1960 there is more concentration of population along the Gulf Coast and less in the rural areas of Arkansas and Oklahoma. Perhaps the most dramatic change be­tween 1920 and 1960 is the markedly increased popula­tion density in West Texas and in Southeast and North­west New Mexico, with the formation of several major urban centers in these areas. In general, the maps show a relative shift in population within the region from the north to the south and west, and from rural to urban counties. 
The relative shifts in population within the Southwest since 1920 are mo1·e clearly brought out by Maps III-VI, which show percentage rates of change in population by decades. These maps are constructed on the same general principles as Maps I and II, the contour intervals ranging from 20 0 or larger decrease per decade to 80% or larger increase per decade. The white, or unshaded, portions of the maps represent areas experiencing population de­creases, the largest percentage decreases being in the areas surrounded by the "barbed" contour. The shaded portions represent areas experiencing population increase the rates of increase rising from the lightest to the dark~ est shading. 
In the decade 1920-30 (Map III) there were two major areas in the Southwest experiencing red"uctions in pop­ulation: a broad band taking in the northwest half of Arkansas, the southeastern quarter of Oklahoma and most of the northeast quarter of Texas; and a narrower, more discontinuous band lying across New Mexico from north­east to southwest. Only a few small areas experienced pop­ulation reductions greater than 20%. The principal areas of population increase during the 'twenties were South and West Texas and the southeastern and northwestern quarters of New Mexico. 
The geographical pattern of population change in the decade 1930-40 (Map IV) was quite different. In this decade the chief area experiencing population reduction embraced the western three-quarters of Oklahoma and most of Central and Northwest Texas. Most of the area in which population reductions occurred in the 'twenties experienced modest population increases in the 'thirties. The increases in South and West Texas were much more selective in the 'thirties. The urban areas showing the highest percentage population gains in the 'thirties may be associated with oil and gas development (e.g., Kilgore, 
Map 3: POPULATION CHANGE IN THE SOUTHWESTERN STATES, 1920-1930 Map 4: POPULATION CHANGE IN THE SOUTHWESTERN STATES, 1930-1940 


LEGEND 

Map 5: POPULATION CHANGE IN THE SOUTHWESTERN STATES, 1940-1950 
LEGEND 
-Decrease lncreose-­20% 0-0-20-40-80% 
or 19% 19% 39% 79% or 

more more 


Houston, Midland-Odessa and Amarillo). In general, the map of population change in the Southwest from 1930 to 1940 reflects flight from the more severely drouth-stricken rural districts and a back-to-the-farm movement in other areas as a result of unemployment and restricted oppor­tunity in most of the cities. 
The decade 1940-50 (Map V) saw population reductions over most of the geographical areas of the Southwest. Reductions of 20% or more occurred in a great number of counties, many of which had experienced reductions in the 'twenties and then increases in the 'thirties. Popula­tion increases from 1940 to 1950 were confined almost entirely to band's along the Gulf Coast and the Texas­N ew Mexico border, and to major urban centers outside these bands. The picture is one of intensified migration from rural to urban areas. 
The pattern of population change in the decade of 1950-60 (Map VI) was highly similar to that of the pre­ceding decade. Most of the rural counties continued to empty out, with large groups of counties in Arkansas, Oklahoma and Texas experiencing population reductions of 20% or more. The urban counties continued to grow rapidly, as did many other counties along the Gulf Coast, in West Texas and in the southeastern and northwestern quadrants of New Mexico. Population growth in these areas of New Mexico was more pronounced in the decade of 1950-60 than in any other decade since 1920. 
The later emptying out of Western Oklahoma, We;;t 

North Central Texas, East Texas, North Louisiana and 
Southeastern Arkansas suggests that many of the fam­
ilies represented in the population increases of these areas during the 'twenties found that they could not earn in­comes there comparable with those available elsewhere. I~ so, population growth in these areas-all predom­inantly rural-helps explain the relative d'ecline of per capita personal income in the Southwest during the 'twenties. Similarly, the high rates of population reduc­tion in the rural counties of the Southw.est during the 'forties help explain the sharp relative increase in the region's per capita income during that period. Population continued to decline at high percentage rates in these counties in the 'fifties; but since the population base was lc,wer at the beginning of the 'fifties, the continuation of high rates of population decrease is consistent with re­duced or negligible relative gains in the Southwest's per capita personal income from 1950 to 1960. 
The partial reversal of migratory trends in the 'thirties, the decade of the Great Depression, tends to support the logical proposition that outmigration from rural depressed areas is impeded by unemployment and restricted oppor­tunity in the cities. The massive movement from farm to city in the 'forties-and the concurrent relative in­crease in the Southwest's per capita income--undoubtedly i·efiects in part the unprecedented demand for labor in the period of war and post-war reconversion. 
Although the general pattern of population shifts with­

in the Southwest is consistent with the presumption that 
migration tends to equalize incomes among regions and· 
subareas, more direct evidence on that score is highly de­

sirable. Unfortunately, limitations on comparable county 
TEXAS BUSINESS REVIEW 

income data restrict the direct evidence to the most recent decade, but even this is helpful. Using the limited avail­able data, county migration rates in Arkansas, Louisiana, Oklahoma and Texas during the 1950-60 decade have been correlated with county measures of median family income, median family age and percent of total employment in agriculture as of 1950." The resulting correlation co­efficients are summarized in Table III. Median family income is the dominant explanatory variable, with percent employed in agriculture in a weak second place. Median 
Talole III 
CORRELATION COEFFICIENTS• 
DEPENDENT VARIABLE: MIGRATION RATES BY COUNTY 
FOUR STATES IN THE SOUTHWEST, 1951..ft 

T7pe of eoe5denta and Independent nrialll• 

Keltlple  Partial  Slaple  
Area  Median family income Median family income Median family aire -other two Percent employed in acri. variables constant  Median family income  

Four  states  .. .  .347  .314  .527  
Arkansas  .793  .393  .682  
Louisiana  . . . . . . . .  .627  .489  .582  
Oklahoma  ..  • 677  .316**  .530  
Texas  .....  .347  .312  .335  
West Texas  .567  .406  .548  
East Texas.. .. ....  .758  .397  .711  

•Except where noted with (..), coefficient.a statistically siirniticant 

at 	99 percent level of conBdence. ..SlsntBcant at 115 percent level of conBdence. 
family age is an insignificant explanatory variable, except in Arkansas. Since median family income and percent employed in agriculture are inversely correlated, any com­puted division of explanatory power between them is un­trustworthy. On logical grounds median income would seem to be the governing factor, and the simple correla­tion coefficients for this variable are almost as large as the multiple correlation coefficients. Consequently, it is concluded that migratory patterns within the Southwest 
tend to reduce income differentials. 
One interesting finding of the correlation analysis is 

that the correlation coefficient is lower for the whole 
region than for the constituent states (except Texas) and 
lower for Texas as a whole than for each of two halves, 
eastern and western, formed by a north-south line run­
ning approximately through Dallas. This finding suggests 
that the "pull" of differential economic opportunity dim­
inishes rapidly with distance from that opportunity. This 
is an expectable result, since knowledge decreases and 
migration cost increases with distance, and it indicates 
that interregional income differences are not likely to be 
eliminated through migration alone. 
V. Summarr 
In its very nature, the process of economic develop­ment usually causes faster growth of income-earning opportunity in some regions than in others. Given similar regional rates of increase in indigenous supplies of pro­
'"Tile computation of correlation coelllcients was done by Mrs. Anne Brown 1IJlder the aatbor'a supervision. 

APRIL 1966 
ductive resources (the emphasis here being on workers and entrepreneurs), the result is a tendency for per capita incomes to rise relatively in the more rapidly growing regions, creating an incentive for migration from the other regions. To the extent that migration respond·s to this incentive, equality of per capita incomes among regions tends to be maintained. The fact that per capita incomes in the Southwest continue to be less than the national average may be attributed to imperfect migra­tory response to differential economic opportunity. 
The evidence presented here suggests that since 1920 income-earning opportunity has not risen rapidly enough in the Southwest to absorb all the natural increase in the labor force and at the same time raise the region's per capita income relative to the national average. Con­sequently, when outmigration from the region was negli­gible, as during the 'twenties, the Southwest's per capita income fell relative to the national average. Only when outmigration was substantial, as during the 'forties, did the Southwest experience gains in relative per capita income. Analysis of migration rates by states and counties supports the contention that differential rates of migra­tion are very helpful in explaining the pattern of change in the Southwest's relative per capita income since 1920 • 
An important feature of population shifts in the South­west since 1920 is the decline of rural population and the corresponding increase of urban population. This kind of shift is associated, of course, with change in the occupational structure of the region. In the next article in this series the changes in the occupational structure of the Southwest that have occurred since 1920 will be examined in detail. 
TEXAS I D STRIAL PROD CTI01 , 
D RABLE 1A FACT RE 


INDEX -ADJUSTED FO i SEA.S ONA! V.UIATION-1951 1959 100 
200 
150 
100 
50 
' 
NOT &: Shaded .uu1 lndlca l t ~tiod • o! <i!eclU:.e o( toul ba.1inu• acd¥11J ia ~\h:Uud .SUtu. 
TEXAS It D TRIAL PROD CTIO 0 'D RABLE MAN FACT RES 
INO EX -J.DJUSTEO FOi SEJ.SO,.,AL VARJAHON-19.S1.19.S9 · JOO 200 
150 
100 
50 1954 ·~a ·~6 ·~ 7 '58 '>9 '60 '61 62 63 64 6a 
NOTE: S!:-1.ded &au iDdicatt· pulods c! ~ul~t of t:x.a.l '=•lncu ac-riv!ty U:i \ht-TJ:lt.d St.a.1.u, 
103 

TEXAS RETAIL SALES IN FEBRUARY by Robert B. Williamson 

Retail sales in Texas during February were 1 C/r greater than a year ago, despite the fact that February 1964 had an extra day and had one more Saturday than did this February. Nondurable goods sales were 1% below a year ago, but durable-goods sales were up 5%. 
The preliminary sales figures for February indicate a narrowing of the year-to-year growth rates, however, even after allowance for shopping day differences. Accord­ing to the preliminary estimates, February sales were ·down from January by more than the normal seasonal amount. The major weaknesses in the month-to-month comparison (after allowance for normal seasonal changes) were in the automotive and the lumber, building material, and hardware categories. 
ESTIMATES OF TOTAL RETAIL SALES IN TEXAS (Millions of dollars) 

Percent change  
Type of store  Feb 1965  Jan-Feb 1965  Feb 1965 from Jan 1965  Feb 1965 from Feb 1964  Jan-Feb 1965 from Jan-Feb 1964  

TOTAL  1.082.0  2,119.0  -5  + 1  +  4  
Durable  iroods•  ..  412.9  832.8  -2  + 5  +  6  
Nondurable  goods  619.1  1,286.2  -7  -1  +  3  

•Contains automotive stores, furniture stores, and lumber, building material, nnd hardware stores. 
Retail sales trends for the nation during February were somewhat stronger than the Texas trends, although th<! basic pattern was similar. According to preliminary esti­mates of the U. S. Department of Commerce, total retail sales in the nation during February were up 3% from a year ago. (The Department estimated the increase amounted to 7% after adjustment for trading day differ­ences.) Compared with January, the national sales total showed a small seasonally adjusted gain. As in Texas, there was evidence of relative weakness in durable-goods sales, even though sales in the important automotive cate­gory were reported to be continuing at record rates. 
Early reports for March indicate a generally slower sales pace for both the state and' the nation. The Federal Reserve Bank of Dallas reported that department store sales in the Eleventh Federal Reserve District (which includes Texas and portions of three neighboring states) declined from year-earlier levels during the two weeks ended March 13. During the same period, retail sales totals for the nation showed a narrowing of year-to-year gains, compared to the adjusted' figures for February. Nondurable goods accounted for most of the reduction in the gains from a year ago and this may have been partly clue to the stimulus given March apparel sales last year by an earlier Easter season. However, the year-to-year growth in automobile sales appears to have also slowed somewhat during the first part of March. 
Some special influences encouraging retail sales in Jan­

uary of this year were absent or were diminished in im-
RETAIL SALES TRENDS BY KINDS OF BUSINESS 
Percent change 
Normal seasonal• Actual Jan-Feb 
Number of 1966 reporting Feb Feb 1965 Feb 1965 from establish-from from from Jan-Feb 

Kinds of business ments Jan Jan 1965 Feb 1964 1964 
DURABLE GOODS  
Automotive  stores  ... 440  +14  + 8  + 9  + 8  
Furniture & household  
appliance  stores  . 217  -7  -11  -2  + 8  
Lumber, building  
material, and  
hardware  stores  .. 261  +19  -11  · ­ 5  +2  
NONDURABLE GOODS  
Apparel  stores  .. 336  -19  -21  -8  + 2  
Drugstores  .. . . . . .. 235  -6  + 1  + 6  +'  
Eating and drinking  
places  101  -5  -10  -4  + 1  
Food stoi-es  .. 399  -7  -5  -s  -1  
GasoHne and service  
stations  ....... ... . . . . . 723  -2  -2  ••  -2  
General mechandise stores . . . . . . . . . . . . . . . 339 Other retail stores . .......329  -18 -2  -15 ••  -6 + 1  ••..  

•Average seasonal change from preceding month to current month. • •Change is less than one-half of 1%. 

portance during February and early March. Automobil~ sales in January were continuing to benefit from the backlog of demands accumulated as a result of the auto­mobile industry strikes in late 1964. Also, there was a bunching of government life insurance dividend payments to veterans during January. Other personal income re­ceipts rose in the nation during February at about the same rate as in the preceding six months. Although an estimate of personal income in Texas during February is not available, the state's personal income seems to have 
CREDIT RATIOS IN DEPARTMENT AND APPAREL STORES 

Ratio of credit sales Ratio of collectlon1 to net sales• to outstandlnget Number of reporting Feb Feb Feb Feb Classification stores 1965 1964 1965 1964 
ALL STORES .40 64.2 62.5 26.4 27.0 
BY CITIES 
Austin ......... .. .... .. 7 64.5 60.2 18.4 17.8 
Dallas . . . .. . . . . . . .. 3 65.8 66.2 86.8 89.8 
San Antonio ........ ..... 4 72.6 70.9 29.1 82.6 

Waco 59.9 59.4 81.6 86.7 

BY TYPE OF STORE 
Department stores 
(over Sl million) . ...... 11 63.2 60.9 24.4 24.6 
Department stores 

(under $1 million) . . . . . . . . 5 58.7 56.0 27.7 29.7 Dry good• and apparel stores . 6 61.8 61.9 86.7 41.6 Women's specialty shops..... .10 67.8 67.8 82.0 SU Men's clothing stores... . 8 68.2 70.1 86.6 88.8 

· BY VOLUME OF NET SALES $1,500,000 and over. .14 64.5 62.7 26.9 26.4 $500,000 to $1,500,000 . ..11 63.8 62.0 88.8 86.l $250,000 to $500,000 . 7 53.9 66.1 37.8 42.7 ·Less than $250,000 . .. 8 54.2 61.1 25.6 26.4 
*Credit sales divided by net sales. 

tCollections during the month as a percent of accounts unpaid on the first of the month. 
TEXAS BUSINESS REVIEW 

TEXAS 	RETAIL TRADE: 1958 AND 1963 SALES IN MILLIONS OF DOLLARS 
1958 	$10193 


SrATel•iiiliiiiiiiiiiiiiiiiiiiiliii...~ 
~1963 $12 ,715(+18%) Lum ber, 8\dg . Moteriols, Form~$843 Equip ., Hordwore Dealers...$ 838 (-1%} General Merchondise~$1,173 Group Stores~$1 ,565 (+IJ 3%) iliiliili~$ 2 ,60 2 
food Stores ~(I $2,923 (+12%) 
l.==~$2~,1083
Automotive Deolersl $2,723 (+31%} 
~880 
Gasoline Service Stotions,...$1,023' (+16%) 
~'624 
Apparel , Accessory Stores ,..$721 (+;15%) 
Furniture, Home furnishings .• $494 
Equipment Stores $521 (+5%} 
~595 
Eating, Drinking Ploces...$726 (+,22%) 
Drug Stores, t§._$376 , . Prop rietary Stores Ill$449 (+,J9.%) 
~Sl,122 
Other Retoilers,...$1,227 (+9%} Sour'°' 1963 CENSUS OF BUSINESS, U.S. Department of Commerce, 
Bureau of the Censu s, 

tracked the national changes fairly closely in recent months. 
Consumers' income expectations and purchase plans have shown only small changes during the past year, according to the latest quarterly survey by the U. S. Department of Commerce. In January, 24.2% of the households surveyed expected their incomes to increase during the next 12 months. This was down slightly from the 24.8% expecting gains as of last October but was above the 23.7% expecting gains a year ago. Plans to purchase new automobiles within 12 months were reported by 9.3% of the households. This was below the 10.4% reporting such intentions last October (at the beginning of the new model year) but was above the 8.5% report­ing purchase plans in the January 1964 survey. On the other hand, the proportion of households reporting plans to buy major items of household equipment within the next six months declined from both last fall and a year earlier. 
The U. S. Department of Commerce has released its 1963 Census of Business retail trade reports for Texas and the nation showing 1963 retail sales and comparisons with the 1958 census figures. These reports reveal that Texas retail sales grew at an average rate of slightly more than 3% per year over the 1958-1963 period. In contrast, Texas retail sales rose at an improved rate of about 4% during 1964, according to the estimates of the Bureau of Business Research. 
In 1963 Texas retail sales reached a level of about $1:{ billion, to show a total increase of 18% over the 1958-1963 period. This increase compared with a gain of 22'; for the nation and a combined increase of 20'i< fo1· Texas· four neighboring states. Among all the states, Californi.1 had the largest volume of sales, nearly $27 billion, anrl its 35'/c increase in sales between census yeal's repre­sented one of the fastest rates of gain. The sharpest gain among Texas' neighboring states was a 29c;, increase re­ported for Arkansas. 
Retail trade is relatively more important in some re­spects in Texas than in the nation as a whole. In 1963, Texans spent 60% of their total personal income for retail purchases. Nationally, only 53'/c of personal income was spent at retail. Food stores accounted for the largest share, 23'7(:, of retail sales in both Texas and the nation. Automotive dealers were second in importance, and rela­tively more important in Texas than in the nation, ac­counting for 21 '7( of the total sales in the state and 19'if. in the nation. The importance of automotive and related sales is shown more clearly by the share of sales going to automotive dealers and gasoline service stations con­sidered together. This was 29% in Texas, compared with 26% in the nation. 
The types of stores showing the fastest sales growth in Texas between 1958 and 1963 were department stores and other general merchandise stores and automotiV::! dealers. The relative growth rates and levels of sales for these and other types of stores are shown in the ac­companying chart. 
The four largest standard metropolitan statistical areas in Texas accounted for 43'7c of the state's retail sales in 1963. The 1963 sales ranking of these four metropolitan areas are: (1) Houston, with nearly $2 billion in sales; 
(2) Dallas, with over $1.8 billion; (3) Fort Worth, with $852 million ; and (4) San Antonio, with $807 million. Among the state's ten largest metropolitan areas in terms of sales, five showed percentage gains greater than the average for . the state from 1958 to 1963. These faster growing major metropolitan areas and their sales gains were: Lubbock (+35'7c ), Austin (+30%), Houston 
(+27%), 	Amarillo (+26'7(:), and Dallas (+23%). 
TOTAL RETAIL SALES 
TEXAS AND MAJOR METROPOLITAN AREAS. 1963 AND lt58 

(Dollar amount<; in millions) 

Peroent Area 1963 1958 increase 

Texas total  .. $12,715  $10,793  17.8  
Major metropolitan areas1  
Houston  1,962  1,545  27.0  
Dallas  1,809  1,473  22.8  
Fort Worth .  852  745  14.4  
San Antonio  807  703  14.8  
Beaumont-Port Arthur  388  350  11.0  
El Paso  380  324  17.5  
Lubbock  289  214  35.3  
Austin  285  219  30.2  
Amarillo  267  211  26.4  
Corpus Christi  264  255  3.7  

'Major standard metroPolitan statistical areas listed In order of 1963 retail sales and in accordance with 1963 Bureau of the Census definitions. Source : U. S. Bureau of the Census, U. S. Department of Commerce. 
TEXAS BUILDING CONSTRUCTION 
AUTHORIZED IN FEBRUARY 

by Francis B. May 

After declining sharply in January, the seasonally ad­justed index of construction authorized in Texas rose 5% in February to a value of 118.5% of the average monthly value of permits authorized during the 1957-59 base period. This value was 8% below February 1964. It was substan­tially below the average value of this index for the past three years, as shown by the following table: 
BUILDING CONSTRUCTION AUTHORIZED JN TEXAS, 1961-1984 
Average value of index of building construction Percent Year authorized (1957-59 = 100) change 
1961  112.1  
1962  124.2  +10.8  
1963  125.0  + 0.6  
1964  133.4  + 6.7  

During the post-World War II period the average value of this index has risen from 35.6% of the 1957-59 base in 1947 to 133.4% last year. The only years in which the average has declined from .the previous year's values were 1949, 1951, 1952, 1956, and 1960. Two of these five years, 1949 and 1960, were years of recession. In 1951, 1952, and 1956 total construction authorized declined although there was no recession. These declines coincided with declines in residential permits both in 1951 and 1956. The 1952 decline was caused by a combination of residential construction authorized proceeding virtually unchanged from the 1951 level and a drop of 3.2% in nonresidential construction authorized which pulled the total index down below the 1951 level. Construction authorized means value of building permits issued. 
The seasonally adjusted index of residential construc­tion authorized declined 15% in February to a level of 90.0% of the average monthly value during the 1957-59 base period. At this figure it was 22% below February 1964. Declines in permits for both single-and multiple­family dwellings caused the index to fall. The decline in permits for apartment houses exceeded the drop in per­mits for one-family dwellings by a considerable margin. 
In July 1963 the index of residential construction au­thorized reached a peak of 149.1 %, the highest value of the .index in seventeen years. Since reaching that peak, the 1~dex has declined gradually. The boom in one-family dwelling~ r.eached a peak earlier than 1963, but the apart­ment building boom pushed the index up until 1963 Since that time, construction of both single-and multiple-family dwellings has subsided slowly. 
The demand for residential construction is affected by 

:iuch factors as the availability of mortgage loans at 
r~asonable rates, the age composition of the total popula­
tion, consumer desires, and the distribution of income in 
~he population. The changing size of families is also an 
important factor. 
At the end of World War II a critical shortage of hous­ing existed. The long depression of the 1930's brought homebuilding down to extremely low levels. Only 93,000 new nonfarm dwelling units were started in 1933 in the entire United States. Shortages of building materials dur­ing World War II prevented any great volume of home construction. As a result of these factors many dwelling units were occupied by more than one family. The stage was set for a housing boom of unprecedented proportions. 
In Texas this boom caused the index of residential per­mits authorized to rise from a value of 17.5·% of 1957-59 in January 1947 to 149.lo/o in July 1963, a more than eight-fold increase. Part of this increase was due to inflationary rises in costs. The E. H. Boeckh & Asso­ciates index of costs of brick residences rose from a monthly average of 195.1 % of its 1926-29 average in 1947 to 299.2% in 1960. Rising costs account for only a part of the rise in value of permits, however. By far the greater part of the rise was due to an increase in the number of dwelling units constructed. Texas and the nation underwent a revolution in which a greater percentage of the nation's families became homeowners than ever before. During the fourth quarter of 1964, 63.0% of all occupied dwelling units in the United States were occupied by their owners. With war-and depres· sion-generated scarcity satisfied by the construction of millions of homes d·..iring the past seventeen years, the volume of home building has eased off until a new wave of demand is generated by post-World War II babies marrying and beginning to add to their families. 
The seasonally adjusted index of nonresidential con­

struction authorized in Texas rose 33.0% in February 
to a value of 151.5% of the average monthly value 
during the 1957-59 base period. At this value the index 
was 1 % below February 1964. It was the increase 
in February nonresidential construction authorized that 
pushed the index of total construction authorized above 
its seasonally adjusted January level. This index has 
advanced strongly since 1961, as shown in the table below. 
NONRESIDENTIAL BUILDING AUTHORIZED IN TEXAS, Ull·lH4 
Index of nonresidential building authorized P~rcent Year (1957-59 = 100) cbanp 
1961  127.4  
1962  135.1  + 6.0  
1963  126.0  -6.7  
1964  156.4  +24.1  

The advance has been irregular, as indicated by the 1963 decline. It has also been strong, as shown by the 24.lo/o gain in 1964 over 1963. Further evidence of the strength of the gain is revealed by a comparison of 1964 with 1961. The 1964 gain over 1961 was 22.8%. If the same compari· son is made for the index of residential construction au· thorized, the 1964 gain over 1961 is seen to be 16.6%, a substantial amount but not as large as the gain in non· residential construction. 
Nonresidential construction consists of fabrication of such structures as hotels, motels, theaters, industrial 
TEXAS BUSINESS REVIEW 

BUILDING CONSTRUCTIO AUTHORIZED I TEXAS 

1954 '55 '56 '57 '58 '59 '60 '61 '62, '63 '64 '65 
NOTE: Shad•d anal indicate period• of d•cli.ne o! total bu1i.n111 acdvi1y in tbe United SU.tel, 

buildings, churches, office buildings, schools, automobile service stations, stores, and so on. Each of these types of structures supplies a different kind of demand for shel­tered floor space. Most of them respond over the long term to different growth factors. 
Hotels and motels grow in accordance with new high­way construction and with increases in tourism and con­ventions. High levels of personal and business income have resulted in more travel. Major oil companies actively pro­mote travel by family automobile. This increases motel occupancy. The sales convention is a favorite business pro­motional device. All of this has meant a large volume of hotel and motel construction. February data show a 128'/c rise from January in hotel and motel permit&. 
Church construction is related to such growth factors as income of congregations, population growth, and chang­ing patterns of population distribution. These factors have all been favorable to church construction in recent years. Unadjusted February data show an 81% increase from January in value of permits for church construction. 
From time to time there are waves of misgiving con­cerning the boom in office building construction. Unad­justed February data show a 74% rise in value of per­mits for office-bank buildings. Houston Power and Light Company has announced plans for a 27-story tower to be completed during the third quarter of 1967. Apparently there is still a good demand for quality office space. 
The long rise in total population occasioned by a high birth total has caused an unprecedented rise in demand for education at all levels. The end is not in sight. In 1950 educational construction in the U. S., valued at the average 1957-59 price level, amounted to $2.0 billion. By 1964 it had grown to approximately $3.4 billion. Val­uing construction in constant 1957-59 dollars shows the increase in physical volume put in place. The data show that physical volume put in place in 1964 was 70.0% greater than in 1950. Unadjusted February data show a 29% rise in permits for educational building in the state. The Texas birth rate is declining but is still above the national average. Children born in 1965 will be entering college in 1983. The college building effort will continue until well toward the end of this century. 
Aa the state and national inventories of all kinds of buildings continue to increase, the value of additions, alterations, and repairs increases also. Unadjusted Feb­ruary data indicate an 11% increase. Cumulative data for the first two months of the year show permits for this category of building to be 36% above the first two months of 1964. 
National data show a decline in housing starts in Feb­ruary after seasonal factors are taken into a<'count. This is the second consecutive monthly decline in the index . Issuance of permits declined also. The decline was in the South and the North Central states. It was large enough to offset rises in the Northeast and West. 
There is still a considerable body of opinion among economists in the housing field that 1965 will be a good year. Construction of apartments should decline but one­family home building should increase. A plentiful supply of mortgage money at reasonable rates and high family incomes are cited in support of this belief. Low vacancy rates among individually owned homes is another favor­able indicator. Only 1.4% of individually owned homes were vacant in 1964. The vacancy rate for rental prop­erties was 7.5% in 1964. It is the high rental vacancy rates that have caused a reduction in apartment building, especially since an increase in vacancies in new struc­tures occurred in the latter part of 1964. 
ESTIMATED VALUES OF BUILDING AUTHORIZED IN TEXA.8 

Percent chanire Feb .Jan-Feb -------­1965 1965 Feb 1966 Jan-Feb 1966 from from Classification (thousands of dollars) Jan 1965 Jan-Feb 1964 
ALL PERMITS New construction  . . . . .116,389 ...... 100,495  281,547 201 ,320  + 1 ••  -11 -16  
Residential  
(housekeeping)  .....  52,823  115,141  -15  -18  
One-family  dwellings . 44,392  92,588  - 8  - Ii  
Multiple-family  
dwellings  8.431  22,608  -41  -47  
Nonresidential  
buildings  . . . . . .  47.672  86,179  + 24  -11  
Nonhousekeepinir  
buildinp  
(N!!lidential)  8,237  4,666  +128  -84  
Amusement  
buildings  . . .  105  1,922  -94  -7S  
Churches  . . .  4,000  6.209  + 81  + 15  
Industrial buildinp  5.055  9,677  + 12  - s  
Garages (commercial  
and  private)  . . . . . .  358  1.159  -56  g  
Service  stations  1,008  2,880  -27  7  
Hospital and  
institutions  . . . .  1,820  8,897  + 15  -72  
Office-bank buildinp  12. 755  20,102  + 74  + sa  
Works  and  utilities . .  1,435  2.916  - ll  + 46  
Educational  buildings .  9,883  16,639  + 29  -17  
Stores and mercantile  
buildings  . . . . . . . . . .  7,762  16,607  ••  -9  
Other buildings and  
structures  754  1,716  -22  -54  
Additions, alterations,  
and repairs METROPOLITAN vs.  15,894  80,227 •  + 11  + 18  
NONMETROPOLITANt  
Total  metropolitan  96,765  190,743  + s  -lll  
Central  cities  75.840  147,673  + 6  -16  
Outside central  cities.  20,925  43,070  6  s  
Total  nonmetropolitan  19,624  40,804  7  2  
10,000 to 50,000  
population  11,510  28,819  s  ' 
Less than 10,000  
population  8,JU  17.485  -11  +  

t As defined in 1960 Census. 
••Change is less than one-half of 1%. 

Source: Bureau of Business Research in cooperation with the BUttau of the Census, U. S. Department of Commerce. 


LOCAL BUSINESS CONDITIONS 

Percent change Percent cbanae 
Feb 1965 Feb 1965 Feb 1965 Feb 1965 Feb from from Feb from from City and item 1965 Jan 1965 Feb 1964 City and item 1965 Jan 1965 Feb 1964 
ABILENE AMARILLO
Standard Metropolitan Statistical Area 

(pop. 126,4061; Jones and Taylor2) Standard Metropolitan Statistical Area Building permits, less federal contract& $ 1,732,843 +138 + 44 
(pop. 166,6161 ; Potter and Randall2)

Bunk debits (thousands) . . . $ 1.628,232 -5 
+ 5 

Nonfarm employment (area) . 35,450 •• -2 Building permits, less federal contracts $ 2,666,940 -84 
Manufacturing employment (area) . 3,960 + 1 -9 Bank debits (thousands) . . .......$ 3,819,192 •• -+ 12 ' Percent unemployed (area) . 5.4 -10 -13 Nonfarm employment (area) . 54,000 -1 •• ABILENE (pop. 110,049r) Manufacturing employment (area) . 6,450 •• + 2 
Retail sales .............. .... . . 

-2t -16 + 3 Percent unemployed (area). . . . . 5.2 + 11 + 8 Apparel stores 
-19t -29 -2 
Automotive stores . ... . .. . . , . . + 14t -11 + 25 AMARILLO (pop. 155,205r) 
Drugstor.. . .. .... ........ . 

St + 10 + 15 

Retail sales -2t -2 +
Furniture and household Apparel stores -19t -16 +appliance stores 7t + 9 + 27 Automotive stores . . . + 14t + 2 +General merchandise stores . 
-13t -33 -7 Drugstores ..... ... .. . . .. . . St 6 + 7Lumber, building material, 

Food stores . . . . . . . . . . .......... . 7t 7 -17

and hardware stores + 19t 
-8 -14 
Furniture and household

Postal receipts• . . . . . . . . . . .$ 118,040 -23 -10 appliance stores . . . . . . . . . . . . . . . . 7t + 28 + 86Building permits, less federal cont~a~t~ $ J ,684,843 +133 + 43 Gasoline and service stations . . . 2t -5 -20Bnnk debits (thousands) . . . . . . . . . .$ 109,849 -16 + 4 General merchandise stores. . . -13t -21 -18End-of.month deposits (thousands) i . .$ 70,668 
-1 + 5 
Lumber, building material,Annual rate of deposit turnover . 18.5 

-14 
+ 

and hardware stores + 19t -29 -46 ALICE (pop. 20,861) Postal receipts• .. $ 245,025 -14 + 8 Retail sales ............ . . . . . . Building permits, less federal contract& $ 2,484,720 -37 -10
2t -7 -15 

Food stores .... .... • . . Bank debits (thousands) . $ 285,894 -16 + 16
7t -11 Lumber, building material, End-of-month deposits (thousands) i . .$ 128,507 -4 -1 and hardware stores . + 19t _ 6 4 Annual rate of deposit turnover . . . . . . 26.2 -16 + 16 Postal receipts• . . 19,553 _ 5 + 12 Buildinir permits, less feder;.J co~~~~ci,; 90,664 _ 49 _ 70 ALPINE (pop. 4,i4"0")___________.......:._:_ 
CANYON (pop. 6,755r) Postal receipts• . . . ... 
5,858 -2 + 14 Postal receipts• . . . . . . . . . . . . .$ 6,662 -23 + Z2Building permit~. less feder~i ~~~-t~~~~~ 13,800 -13 -27 

Building permits, less federal contracts $ 182,220 + 28
Bank debits (thousands) . . . . . . . . 
3,445 

-14 + 10 Bank debits (thousands) . . ...... .$ 6,799 -22 + 1End-of-month deposits (thousands) i 4,728 
+ 3 

+ 14 End-of-month deposits (thousands) i . .$ 7,499 + 1 ••Annual rate or deposit turnover ... 
8.9 

-14 + 2 Annual rate of deposit turnover. . , .. . 10.9 -24 + ·2. 
108 TEXAS BUSINESS REVl}lW 
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 are defined by county lines and, for this reason, the 
2

counties are listed under the major heading for the area.The populations shown for the SMSA's are estimates for April 1, 1964,1 prepared by the Population Research Cen­te1·, Department of Sociology, The University of Texas. The cities within the counties are listed with the appro­priate SMSA; all other cities are listed alphabetically. The population shown after the city name is the 1960 Census figure with the exceptions of those marked (r), which are estimates officially recognized by the Texas Highway Department, and that given for Pleasanton, which is a combination of the 1960 Census figures for Pleasanton and North Pleasanton. Since the SMSA and city popula­tion estimates have different sources, it is not surprising that they are sometimes inconsistent, as is the case here with the Odessa SMSA (Ector County) and Odessa. 
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 statewide seasonal change in sales by that kind of business-except in the cases of Dallas, Fort Worth, Hous­ton, and San Antonio, where the dagger is omitted because the normal seasonal changes given are for each of these cities individually. 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 indicatea an abnormal month. Waco retail sales information is re­ported in cooperation with the Baylor Bureau of Busi· ness Research. 
Postal receipts information which is marked by an asterisk (*) indicates cash received during the four-week postal accounting period ended February 26, 1965. 
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 U). 
Figures under Texarkana with the following symbol (§) are for Texarkana, Texas, only. Changes of less than one-half of 1o/o are marked with a double asterisk (**) . 
Local Business Conditions City and Item  Feb 1965  Percent chanire Feb 1965 Feb 1965 from from Jan 19G5 Feb 1964  Local Business Conditions City and item  Feb 19G5  Percent chanire Feb 1965 Feb 19G5 from from Jan 19G5 Feb 1964  
ANDREWS (pop. 11,135) r.tal receipts• .... . ................S Blllldlnir permits, leas federal contracts $ 1111111: debits (thouaanda) .. ........ ...$ W-of-month deposits (thouaanda)t.. $ Annual rate of deposit turnover..... . 8,260 76,403 G,039 7,547 9.6  •• +514 -3 •• -3  -13 + 77 + G + 8 +  NEDERLAND (pop. 15,274r) Postal receipts• . . . . . . . . . . . . . . .S Buildinir permits, less federal contracts $ Bank debits (thousands) . . .... .$ End-of-month deposits (thousands) i . .S Annual rate of deposit turnover .  8,919 248.468 6,771 4,762 14.0  -20 +206 -18 ·­7 -15  + 11 +180 •• + 2 -2  
A.RANSAS PASS (pop. 6,956) POltal receipts• ....... . ........ ... .. $  6,4G6  -15  + 27  ORANGE (pop. 25,605)  
Balldlnir permits, leu federal contracts  $ 6,900  -70  + 94  Retail sales  . .  - 2t  +  + 11  
1111111: debits  (thouaanda). . . .  .$  4,102  - 2  9  Automotive stores  .. . ....... .  + 14t  + 11  + lG  
Ind-of-month deposits (thouaanda) i . .S Annual rate of deposit turnover. . . . . .  5,109 9.6  -1 ••  7  Furniture and houaehold appliance stores ........... .. . .  - 7t  -36  - 8  
ARLINGTON: see FORT WORTH SMSA ATHENS (pop. 7,086)  General merchandise stores . Postal receipts• .. S Building permits, less federal contracts $  -lSt 28,178 250.245  -24 -6 + 56  -11 + 2 -25  
POltal receipts•  . . . .  . ...$  13,139  - 8  + 10  Bank debits  (thousands) .  $  28,85G  - 9  8  
B111ldlnir permits, leaa federal contracts  $ 49,500  -68  -17  End-of-month deposits  (thousands) i .. $  24,074  -18  - 4  
Bank debits  (thouaanda) ... , . .. . .....$  11,482  -13  + 18  Annual  rate of deposit turnover.  13.l  6  + 1  
End-of-month deposits (thouaanda) i . .$ Annual rate of deposit turnover .....  9,118 14.G  - G 9  -16 + 29  Nonfarm placements  .......... .  14G  +  2  -10  
AUSTIN Standard Metropolitan Statistical Area  PORT ARTHUR (pop. 66,676) Retail sales Automotive stores  -2t + 14t  -10 -9  7 a  
(pop. 243,2261 ; Travis2 ) B111ldln1r permits, leaa federal contracts $ 3,422,200 Bank debits (thouaanda) ...... . ......$ 8,796,944 Nonfarm employment (area) . . . . . . . . . 94,300 llanufacturlns employment (area) . 6,4GO  -22 + 12 •• +  -88 + G + 5 + 7  Furniture and houaehold appliance stores General merchandise stores. Lumber, building material, and hardware stores  -7t -18t + 19t  -17 -18 -20  -18 -20 -28  
Percent unemployed  (area) . . . . . . . . . .  8.4  +  6  + 10  Postal receipts•  $  61,112  - 7  - 6  
AUSTIN (pop. 212,000r) Retail aalea .. : .... . ............. . ..• Apparel ltorea . ......... . ... . .... .  -- 2t 19t  + -16  - 2 ••  Building permits, leas federal contracts $ Bank debits (thousands) . .$ End-of-month deposits (thousanda>i.. $  300,552 G3,7G7 42,288  + 87 -10 8  -22 •• + s  
Automotive 1tores  . . .............. .  + 14t  + lG  + 14  Annual rate of deposit turnover.  17.8  - 6  - 2  
Druptorea  ..................... . .  ~t  + 4  + 7  
Eatlns and drlnklns placea . ... ... .  5t  7  8  PORT NECHES (pop. 8,696)  
Food .tores  .. .. . ... . .... ......... .  7t  2  2  Postal receipts•  '' ..... "  ..$  7,708  -10  + s  
Furniture and houaehold  Building permits, less federal contracts $  89,497  7  -44  
appliance  .tores  . . . . . . . . . . . . . . . .  7t  G  + 18  Bank debits  (thousands) ...  .$  11,232  + 3  + 8G  
General  merchandise  stores .  -13t  8  -19  End-of-month deposits  (thousands)t.. $  7,32G  + 17  
Lumber, bulldlnir material, and hardware stores... . . .  + 19t  7  -18  Annual rate of depoait turnover .  18.3  + 18  
Poata! receipts•  .....$  479,25G  -18  - G  BAY CITY (pop. 11,656)  
Buildlns permits, leu federal contracts  S 3,394,700  -21  -88  Rel.ail sales  - 2t  - 6  + 16  
Bank debits (thousands) ............ .$ End-of-month depoalts (thouaanda)t.. $  317,014 1G4,816  + 6 -8  + G 4  Automotive atores Postal receipts•  .. S  + 14t 17,729  -8 + 85  + 9 + 86  
Annual rate of deposit turnover. . . . . .  22.1  + 13  + 8  Bank debits  (thouaands) .  .$  17,138  -25  + 12  
BAYTOWN: see HOUSTON SMSA  End-of-month deposits (thousanda) i . .S Annual rate of deposit turnover.  25,Gl8 7.9  -- 4 28  + + 11  
BEAUMONT-PORT ARTHUR-ORANGE  Nonfarm placement.  .......... .  56  -19  -27  
Standard Metropolitan Statistical Area  BEEVILLE (pop. 13,811)  
(pop. 314,7431; Jefferson and Orange2 ) Buildlnir permits, leaa federal contracts $ 2,097,559 -88 Bank debits (thouaanda) ........ .....$ 4,840,304 Nonfarm employment (area) . . . . . . . . . 108,400 Kanufacturlnir employment (area) . 84,550 + 2 -1 ••  -11 + 7 -s••  Retail sales Drugstores Food stores Postal receipts• ...$ Buildinir permits, leas federal contracts $  -St -7t 12,908 2G,l29  -6 -14 + 1 -41  2 + 7 + 6 7  
Percent unemployed (area) BEAUMONT (pop. 127,500r) Betall aalea . ................... . ... . Apparel ltorea .... . . . . . . . .. . .. . . . .  -- 5.9 2t 19t  - s 7 12  -21 •• + 8  Bank debits (thouaands) . .S End-of-month deposits (thouaanda) i . .S Annual rate of depoait turnover... . Nonfarm placement. . . .... . . . . .  9,782 15,822 7.5 71  -20 + 3 -21 -10  s + 8 -10 -36  
Automotive stores .. . ........... .. . Drqltorea .. . ........ . ......... . Eatlns and drlnldns places....... . Food .tores .................. .. . . Furniture and houaehold appliance atorea  + 14t Gt 6t 7t 7t  4 + 6 9 9 -11  + 6 + 7 -2 -18 + 29  BIG SPRING (pop. 31,230) Retail sales ....... . Apparel stores . . . . . .. ... . . .. . . . . Automotive atorea .... .... . . . . . ... . Drusstores .. ... .... . .. .. .. . .. . . . .  -2t -19t + 14t -Gt  -17 -48 + 25 + 9  G 8 a -10  
General merchandise .tores. Lumber, bulldinir material, -18t and hardware ltorea. . . . . . . . . . . . . + 19t POltal reeeipts• . .... . . .......... . .. . S 187 ,672 Buildlns permits, leu federal contracts $ 1,106,800 Baak debits (thouaanda) .. , ..... . .. . . $ 214,179 Bnd.ot-month de-its (thouanda)t.. $ 118,645 Ann'llal rate of depoelt turnover. . . . . . 22.6  -18 -20 -6 -Gl -12 •• -11  -8 -84 -4 -28 + 18 + 7 + 7  Lumber, buildinir material, and hardware storea. Postal receipts• -S Buildinir permits, leas federal contracts $ Bank debits (thousands) . . . . S End-of-month deposits (thousands) t .. S Annual rate of deposit turnover .. . .. Nonfarm placemente . ..  + 19t 34.361 655,07G 34.G89 24,525 16.9 lGG  -28 -18 +131 -14 -1 -13 + 6  -18 + 16 + 89 •• 4 + 6 + 8  
APRIL 1965  109  

Percent change Percent clwise
Local Business Conditions Local Business Conditions 
Feb 1965 Feb 1965 Feb 1986 Feb 1991 Feb from from Feb from from City and item 1965 Jan 19.65 Feb 1964 City and item 1966 Jan 1986 Feb 1964 
LOS FRESNOS (pop. 1,289) BISHOP: see CORPUS CHRISTI SMSA 
Postal receipts• ..................$ 1,118 

-28 + 11 

Building permits, less federal contracts $ 2,166 -48
BONHAM (pop. 7,357) 
Bank debits (thousands) .. .... . . . . ...$ 1,012 -18 
-ao

Retail sales End-of-month deposits (thousands) i . .$ 1,169 ­
Automotive stores + 14t + 14 + 21 8 -11 
Annual rate of deposit turnover. 10.0 
Postal receipts• .$ 7,764 + 11 + 11 -10 -7 Building permits, less federal contracts $ 166,000 +202 +261 
LA FERIA (pop. 3,047) 
Bank debits (thousands) . . . .. .$ 7,400 -16 6 
Postal receipts• ......... . . . $ 2,622

End-of-month deposits (thousands) i . .$ 8,062 -2 + 1 +81 
Building permits, leaa federal contracts $ 6,600
Annual rate of deposit turnover .. 10.9 -14 4 + 41 -aa 
Bank debits (thousands) ...........$ 1,610 8 

-17 End-of-month deposits (thouaands) f .. $ 1,602 4
BORGER (pop. 20,911) 
Postal receipts• ...$ 19,099 -2 + 16 Annual rate of deposit turnover . .. . . . 12.6 8 --14 ' 
Building_permits, leas federal contracts $ 36.100 -69 -36 
PORT ISABEL (pop. 3,575) 
Nonfarm placements 188 + 12 -46 
Postal receipts• ... ... ...... . ........$ 8,889 + 22 

+ .. 

Building permits, less federal contracts $ 6,660 -87 +a Bank debits (thousands) .......... . .. $ 1,469
BRADY (pop. 5,338) 
Postal receipts• .......$ 6,610 -3 + 21 + a +u End-of-month deposits (thousands) i . .$
+315 1,308 + a
Building permits, less federal contracts $ 20,750 + 2 + 
Bank debits (thousands) . . . . $ 4,862 -14 2 Annual rate of deposit turnover... . . 18.8 •• + 17 
End-o{-month deposits (thousands) i . .$ 6,905 -1 7 
SAN BENITO (pop. 16,422) 
Annual rate of deposit turnover.. . .. . 8.4 -12 + 6 Postal receipts• . . . . . . . $ 7,406 -9 + • BRECKENRIDGE (pop. 6,273r) Building permits, less federal contracta $ 82,966 -89 + ,. Postal receipts• .. ...$ 6,790 -19 + 4 
Bank debits (thousands) ....$ 6,078 9 End-of-month deposits (thousands) i . .$ 6,689 4
Building permits, less federal contracts $ 10,070 -8 +101 ' Bank debits (thousands) . . . $ 6,221 a' 
Annual rate of deposit turnover .. ... . 10.6 7 End-of-month deposits (thousands) i . .$ 8,649 
BROWNWOOD (pop. 16,974) BRENHAM (pop. 7,740) 
Retail sales .... .......... . ..... . .. . -2t •• + 10 

Retail sales Apparel stores .. . . . .. .. .. . ..... . -19t -19 ••General merchandise stores. -13t -12 •• Postal receipts• .. $ 88,074 -16 + 8 Postal receipts• ....$ 10,043 -14 + 36 
Building permits, less federal contracts $ 72,716 -66 -H 
Building permits, less federal contracts $ 50,800 -75 +122 Bank debits (thousands) . . . ..... $ 18,296 9 + 4 Bank debits (thousands) . . ..$ 11,369 -19 1 
End-of-month deposits (thouaands)t.. $ 18,868 a + I
End-of-month deposits (thousands) i . .$ 14,373 -2 + 8 Annual rate of deposit turnover.. . .. . 16.2 8 + IAnnual rate of deposit turnover .. ... 9.4 -18 8 
Nonfarm placements 116 + 8 + 8 BROWNFIELD (pop. 10,286) Postal receipts• .. . . $ 8,292 -82 -28 BRYAN (pop. 27,542) Building permits, less federal contracts $ 8,600 -57 -91 Retail sales ... -2t -19 -17 Bank debits (thousands) . . . . $ 20,659 -89 + 18 Apparel stores -19t -62 -a End-of-month deposits (thouaands)t .. $ 15,668 -9 -10 Automotive stores ...... . .. . .... . . . + 14t -18 -15 Annual rate of deposit turnover. 16.l -86 + 28 Lumber, building material, 
and hardware stores. ....... . ... . + 19t -18 + 19

BROWNSVILLE-HARLINGEN-SAN BENITO 

Postal receipts• ... . $ 28,942 -17 Standard Metropolitan Statistical Area Building permits, Iese federal contracts $ 180,702 -84 ++ aa ' 
(pop. 146,207t; Cameron2) Bank debits (thousands) . . ... .I 82,207 -ta + • Building permits. less federal contracta $ 288,649 -61 + 9 End-of-month deposits (thousands) t .. $ 21,010 •• + • Bank debits (tbouaanda) ..... ... .....$ 1,292,644 •• + 8 Annual rate of deposit turnover.... . . 18.4 -8 -1 Nonfarm employment (area) 85,100 •• + 1 Nonfarm placements 802 + 29 + 14 
Manufacturing employment (area) . 5,290 2 
Percent unemployed (area) . . . . . . . . . . 7.6 + 9 + 7 1 CALDWELL (pop. 2,202r) 
BROWNSVILLE (pop. 48,040) Postal receipts• ............... .I 2,467 -17 •• 

Retail oalea Bank debits (thousands) .. . .. . ....I 2,807 -22 1 -End-of-month deposits (thousands) i . .I 4,046 -a + I
Automotive stores + 14t + 47 + 26 
Lumber, building material, 


Annual rate of deposit turnover. 6.7 -20 1 
and hardware stores. 
+ 19t -16 + 8 

CAMERON (pop. 5,640) 
Poatal receipts• .$ 37,068 -6 + 11 
Postal receipts• .....................$ 7,874 + 28 + aa

Building permits, leaa federal contracts $ 211,229 -81 + 8 Building permits, less federal contracts $ 66,100
Bank debits (thousands) . . . . . . . . .. .$ 37,144 -10 + 16 End-of-month deposits (thousands) i . .$ 20,480 Bank debits (thousands) . . . . . $ 6,141 -14 + 11 
+ 

Annual rate of deposit turnover.... 21.3 4 End-of-month deposits (thousands) i . .$ 6,149 -1 ••
+ 16 

Nonfarm placements Annual rate of deposit turnover.. .. . . 11.9 -8 + 1'
621 1 + 30 

HARLINGEN (pop. 41,207) CANYON: see AMARILLO SMSA 
Retail sales 
-2t 7 
Automotive stores 


+ 14t 9 CARROLLTON: see DALLAS SMSA 
Lumber, building material, 
and hardware stores 


+ 19t + 5 + 23 CISCO (pop. 4,499) 
Postal recei pta• . . $ 34,470 6 + 6 Postal receipts• . . . . . . . . . . . . . . $ 4,660 -16 + 2 
Building permits, less fede~~j ~~nt~~~b $ 31,150 -90 -18 1
-22 Bank debits (thousands) . . . . . .I 8,470
Bnnk debits (thousands) . . . . . . . . . $ 34,593 + 9
-17 + 1 End-of-month deposits (thousands) i . .$ 8,676 + 8 End-of-month deposits (thousands) i . .$ 20,820 + 2 + 5 Annual rate of deposit turnover. . . . . . 11.6 -16 •
Annual rate of deposit turnover. 20.l -14 
Nonfarm placements 

451 -16 -7 CLEBURNE: see FORT WORTH SMSA 
Percent change Percent ~hanp

Loc:al Business Conditions 	Local Business Conditions 
Feb 1965 Feb 1965 Feb 1965 Feb 1965
Feb from f rom Feb from from 

Clt1 and Item 	1965 Jan 1965 Feb 1964 City and item 1965 Jan 1965 Feb 196' 
CLUTE (pop. 4,501) CRYSTAL CITY (pop. 9,101) POltal recelpta• . . ................. . 2,486 -6 + 80
• 
Postal receipts• 	-
Balldlns pennlta, 1-federal contracts S 6,500 -86 	········ ····· ....... . S,703 8 + '1 

Building permits, less federal contracta $ 209,619 +189 +&47
Bank deblta (thouaanda) .............S 1,905 + 7 + 12 

Bank debits (thousands) . 2.818 5 + 8
•

End-of.month depoaita (thouaandaH..S 1,746 + 4 + 17 	•
End-of-month deposits (thousands) i . .$ S,087 + 4 + 14Annual rate of deposit turnover...... 13.S + 8 -4 
Annual rate of deposit turnover...... 11.2 8 8
-

COLLEGE STATION (pop. 11,396) 
POltal recelpta• .................. ... S 24,942 -15 + 7 

DALLAS Bulldlns pennlta, 1-federal contracts S 134,249 +218 -11 Standard Metropolitan Statistical Area Bank debltl (thoaaanda) . . ...........$ 6,446 6 -1 (pop. 1,232,6251 ; Collin, Dallas, Denton, and Ellis2) 
End-of-month depoelta (thouundaH.. $ 4,849 4 + 16 Building permits, leBB federal contracts $~2.686,862 + 8 -16Annual rate of depoelt turnover. . . . . . 14.7 9 -16 
Bank debits (tbouaanda) .......... ...a;8,90S,684 + 21 + 28 COLORADO CITY (pop. 6,457) Nonfarm employment (area) . 519,800 + 1 + Ratall eal• Manufacturing employment (area) . 116,600 •• + '8 
Lamber, bulldlns material, Percent unemployed (area) . 8.7 + 6 8 and hardware Ito,... .. . . + 19t -6 -8 
CARROLLTON (pop. 9,832r)
POltal recelpta• ................... ..S 6,278 -10 + 11 

Postal receipts• ...... ............ ...$ 9,500 + 7 + 26

Bank deblta (thouaanda) ............ .S 4,924 -18 1 

Building permits, leBB federal contractl S 166,000 -76 -82
Enckf·montb depoelta (thouund1H.. $ 6,269 -4 9 
Bank debits (thousanda) .............S 5,666 -17 + 2

Aunual rate of depoelt turnover. ... . . 9.2 -16 + 8 
End-of-month deposits (tbouunda)l.. S 8,018 -4 -8 COPPERAS COVE (pop. 4,567) Annual rate of deposit turnover. 22.2 -12 + 10 POltal recelpta• .................. . . .S 4,505 -4 + 6 lhllldlns permlta, leu federal contractl S 220,610 -88 + 44 DALLAS (pop. 679,684) Bank deblta (thouunda) .............S 1,695 -10 + 8 Retail aalea . . . . . . . . . . . . . . . . . . . . . . . . . -4 -6 -8 Ind-of.month dapoelta (thomanda)l..S 1,471 -12 8 Apparel etorea . . . . . . . . . . . . . . . . . . . . -21 -19 -6 Annual rate of depoelt turnover..... . 12.2 -8 + 7 Automotive 1tore1 . . . . . . . . . + 8 + 16 + 16 
Druptorea . . . . . . . . . . . . . . . . . . . . . . . + 2 •• + 8
CORPUS CHRISTI 

Florists . . . . . . . . . . . . . . . . . . . . . . . . . . . + 1 •• + 8 Standard Metropolitan Statistical Area Food atorea . . . . . . . . . . . . . . . . . . 6 -16 -12 (pop. 223,0601 ; Nueces2) Furniture and hoUHhold appliance storea . . . . . . . . . . . . . . . . 8 -14 -2
Bulldlns pennltl, •-federal contracts. S 2,774,868 + 82 + 64 Gasoline and service station•. . . . . . . 4 + 8 2
Bank deblta (thoua&nda) .. . . ... . . . ...• 2,920,980 + 1 + 6 ­General merchandiae storea. . . . . . . . . 7 -16 -10

l•onfarm emplorment (area) . . . . . . . . . 74,700 -1 + 9 
Liquor atorea . . ........ . .... . .... . 6 -6

Manufactur!ns emplorment (area) . 8,890 •• + 8 !.umber, building material,

Penent 11nemplo1ed (area) ...... .. .. 4.8 + 7 8 
and hardware atorea. . . . . . . . . . . . . + 7 9 -28

BISHOP (pop. 3,825r)
Poetal recelpta• . ....... . ... . .... . ...S 2,224 -80 -86 

Nuneriea ............. .. . . ....... . + 6 + 7 Office, 1tore, and achoo!

Bulldlns pennlta, 1-federal eontracta $ 8,000 -85 -94 
eupply dealera ... . . . ..... . -22

Bank deblta (thouaanda) .............S l,764 + 24 + 12 	-18 

Poatal receipts• .....................$ 8,135,826 -6 +

End-of.month depoelta (tbou.1&nda)l.. S 2,168 -4 -6 
Annual rate of depoelt turnover... . . . 9.6 + 28 + 16 	Buildin1r permits, leaa federal contracta SlS,389,806 + 84 -22' Bank debits (thousands) .............$ 4,296,015 4 + 2S 
CORPUS CHRISTI (pop. 184,163r) 	2 1
End-of-month deposits (thouaandaH .. $ 1,854,848 + 
a.tall --. .. .. ... . .. .. . . .. . . . . . . . . -2t -8 + 2 Annual rate of depoeit turnover. 87.7 + 2 + 19 Apparel Ito,... . . . . . . . . . . . . . . . . . . . . -19t -17 4 Automotive 1tona . . . . . . . . . . . . . . . . . + 14t + 1 + '1 DENTON (pop. 26,844)Drusltor• . . . . . . . . . . . . . . . .. . .. . . . -et •• + 8 Retail aales General menbandlM Ito,.... . . . . . . . . -18t -18 -14 Drugatorea .......... .. . -6t + 6 + 19 
Po.ta! recelpta• .. ...................S 201,991 -15 -8 Postal receipts• ......... ............S 43,592 2 -4 Bulldlns pennlta, 1-federal contracts S 2,686,541 + 85 + 66 Buildin1r permits, less federal contractl S 687,660 + 4 -81 Bank debltl (thouaanda) ............ .• 217,100 -12 + 1 Bank debits (thousands) . . .... .S 88,084 + 4 + 12 Eud-of-montb depoeltl (thouaanda)l .. S 121,440 6 + End-of-month depoeits (thouaanda)l..S 28,468 + 8 -12 Annual rate of depoelt turnover. . . . . . 21.O -8 6 Annual rate of deposit turnover..... . 17.5 + 4 + 87 ROBSTOWN (pop. 10,266) Nonfarm placements ..... . . . . . .... . . 216 + 84 + 19 
a.tail lalea 
ENNIS (pop. 10,250r)
Automotive ltona .. . ......... .. .. . + 14t + 82 + 21 


Retail aalea
Guollne and lel'Vlce 1tatlon1...... . -2t -11 -6 
Apparel atorea ............ . -19t -SS -7


Po.ta! recelpta• ... ........... .......S 8,997 + 26 + 18 

Postal receipts• . . . . . . ...$ 12,089 + 7 -7lluUd.ins permit&, 1-federal contracts s 79,827 + 48 + 60 Building permits, leBB federal contracta $ 66,600 -88 -70
Bank deblta (thouaanda) .. ...........s 8,990 -20 -8 

Bank debits (thousands) . . .... ... .S 6,890 -16 + 8End-of-month depoelta (tbouaanda)l.. S 9,598 -4 + 11 End-of-month depoeita (thouaands)l .. $ 7,585 -2 + 6
Annual rate of depoelt turnover. 11.0 -20 -15 Annual rate of depoait turnover. 10.1 -18 CORSICANA (pop. 20,344) a.tan eal• ............. .. ...... . -2t -19 6 GARLAND (pop. 50,622r) 1-ber, bulkllns material, Retail aalea ............ . ..... . -2t + 17 + 12 and bardware store............ . + 19t -28 + 9 Apparel atorea ................. .. . -19t -27 12
-

Po.ta! recelpta• ...................... 28,484 + 28 + 66 Automotive etorea ................ . + ut + 18 + 18 Baildlns permit&, 1-federal eontracta S 78,168 -92 -86 Postal receipts• ...S 
47,761 -1 + 18 
892,327 + 7 -86

Bank debita (thouaanda) . . . . . . . . . . . . s 19,748 -17 + 6 	Building permits, leaa federal contractl S -18
W-of-montb depoeita (tboaaanda)l..s 21,627 -6 + 8 Bank debits (thouaanda) . . .. .S 34,820 + 9 haual rate of depoeit turnoYer..... . 10.6 -14 + 10 End-of-month deposits (thouaand•) l . .$ 18,981 -8 + 6 Nontann Plaemaenta .. . .... . ...... . . 196 + 4 + 24 Annual rate of depoeit turnover.. ... . 21.1 -18 •• 
Local Business Conditions City and i tern  Feb 1965  Percent change Feb 1965 Feb 1965 from from Jan 1965 Feb 1964  Local Business Conditions City and item  Feb 1965  Percent chanire Feb 1966 Feb 1966 from from Jan 1966 Feb 1964  
GRAND PRAIRIE (pop. 40,150r) Postal receipts• . .. $ 31,472 Building permits, less federal contracts $ 1,501.120 Bnnk debits (thousands) .... . $ 18,261 End-of-month deposits (thousands) t . $ 10,857 Annual rate of deposit turnover . . 19.6  -15 -50 8  -2 +133 + 4 + 7  WAXAHACHIE (pop. 12,749) Postal receipts• . . . . . . . $ Building permits, less federal contracts $ Bank debits (thousands) . . . . ....$ End-of-month deposits (thousands) t . . $ Annual rate of deposit turnover. Nonfarm placements  20,819 29,925 10,416 9,942 12.2 61  + 87 -93 -14 -6 -10 +103  + 6 -90 8 1 2 + 7  
IRVING (pop. 60,136r)  DEER PARK: see HOUSTON SMSA  
Postal receipts• ... .$ 45,432 nuildinir permits, less federal contracts $ 1,441,426 Bank debits (thousands) .....$ 38,493  -89 -24 4  -15 10 + 19  DEL RIO (pop. 18,612) Retail sales  
End-of-month deposits (thousands) t . . $ Annual rate of deposit turnover .  17,878 24.6  9 2  + 6 + 8  Automotive stores ........ .. . .. . •. . Lumber, building material, and hardware stores. ........... .  + 14t + 19t  -15 + 1  + ' + 17  
JUSTIN (pop. 622) Postal receipts• .$ Building permits, less federal contracts $ Bnnk debits (thousands) .. . .......... $ End-of-month deposits (thousands); . . $ 529 33,000 846 803  -25 + 78 -19 -2  -39 -29 -5  Postal receipts• . . . . . . . . . . . . . . . $ Building permits, less federal contracts $ Bank debits (thousands) . . . $ End-of-month deposita (thousanda)i.. $ Annual rate of deposit turnover. 14,699 61,236 11,952 14,978 9.6  -9 -57 -6 •• -6  + ' -69 + ' + 1 + 8  
Annual  rate of deposit turnover.  12.5  -18  -25  DENISON (pop. 25,766r)  
Retail sales  
Mc:KINNEY (pop. 13,763)  At>parel stores  - 19t  - 16  -18  
Retail sales  Automotive stores  .  + 14t  + 4  + 8  
Food stores Postal receipts•  .. ............ .$  -7t 12,432  -8 -21  -17 + 10  Postal receipts• . . . . . . . . . . . . .. . $ Building permits, less federal contracts $  22,179 105,249  -7 -18  + 11 -86  
Building permits, less federal contracts $ Bnnk debits (thousands) . .$ 79,755 11 ,185  + 8 -10  + 6 + 4  Bank debits (thousands) . . . $ End-of-month deposits (thousands) i . .$  16,670 14,962  -12 -1  
End-of-month deposits  (thousands) t . $  10,587  - 1  + 4  Annual rate of deposit turnover .  18.3  - 8  
Annual rate of deposit turnover. Nonfnrm placements  12.6 103  -7 + 16  + 2 + 66  Nonfarm  placements  127  + 25  +  
DENTON: see DALLAS SMSA  
MESQUITE (pop. 27,526)  
RctaiI sales Eating and drinking places .  - st  -16  ••  DONJ'.'fA (pop. 7,522) Postal receipts•  .$  4,100  + 4  + 7  
Postal receipts• .. .. ...........$ Building permits, less federal contracts $ Bank debits (thousands) ...... . .. .$ End-of-month deposits (thousands) t .. $ 15,879 301,473 8,758 6,753  -18 -62 9 +  -5 -23 + 15 +  Building permits, less federal contracta $ Bank debits (thousands) . .$ End-of-month deposits (thousands) i . .$ Annual rate of deposit turnover .  13,900 2,238 3,693 7.8  + 87 +  -- 8••••.  
Annual  rate of deposit turnover .  15.7  + 11  
MIDLOTHIAN (pop. 1,521)  DUMAS (pop. 10,547r) Postal receipts•  . $  7,575  2  + 16  
Building permits, less federal contracts $ Dank debits (thousands) .. .$ End-of-month deposits (thousands); . . $ Annual rate of deposit turnover . 10,550 993 1,494 7.5  -16 -23 -11 -21  -40 + 8 + 12 -6  Building permits, less federal contracts $ Bank debits (thousands) . .$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover.. . .. . 286,750 11,480 11,065 12.5  + 6 6 •• -6  + 78 + 60 + 18 + Cl  
PILOT POINT (pop. 1,254)  EAGLE PASS (pop. 12,094)  
Building permits, less federal contracts $ 6,900  -54  Retail sales  
Bank debits (thousands) . . . . $ End-of-month deposits (thousands) t . . $  1.034 1,628  -38 -6  - s  Gasoline and service stations. Postal receipts• . . . . . . . . . . . . . . .  . $  -2t 8,682  -16 -14  -17 + 19  
Annual rate ot deposit turnover . PLANO (pop. 10,102r) Postal receipts•  . . $  7.4 7,812  -37 + 11  •• + 26  Building permits, less federal contracts $ Bank debits (thousands) . . ....$ End-of-month deposits (thousands) t . . $ Annual rate of deposit turnover.... 66,476 6,244 4,578 16.1  -67 1 3 + 1  -68 + 8 + 6 + 7  
Building permits, less fe<lernl contracts $ Bank debits (thousands) . $ End-of-month deposits (thousands) t . $ Annunl rate of deposit turnover RICHARDSON (pop. 34,390r) Postal receipts• $ Building permits, less federal contracts $ 203,902 4,325 2,843 16.3 44,138 686,688  -55 + 11 -20 + 14 + -35  -35 + 7 + 9 7 + 9 -58  EDINBURG (pop. 18, 706) Postal receipts• . . . . . . . . . . . . $ Building permits, less federal contracts $ Bank debits (thousands) . .$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover .... . . Nonfarm placements 12,549 84,600 15,934 11.201 17.7 157  -18 -10 -10 + 8 -19 -52  + 10 + 86 + 9 + 18 + 2 -16  
Bnnk debits (thousands) . . ..... .$ End-of-month deposits (thousands); .. $ Annual rate ot deposit turnover . SEAGOVILLE (pop. 3,745) Postal receipts• . . ... . ...... , S Building permits, less federal contracts $ Bn n k debits (thousands) .......... .$ End-of-month deposits (thousands) t . $ Annual rate of deposit turnover . 21.668 12,589 20.2 4,953 17,816 2,974 l ,736 19.8  -13 -5 + 10 -5 -53 -29 -7 -12  + 11 + 34 -17 + 25 + 81 + 24 + 1 + 19  EDNA (pop. 5,038) Postal receipta• . $ Building permits, less federal contracts $ Bank debits (thousands) . .$ End-of-month deposita (thousands) t . . $ Annual rate of deposit turnover. .... . ENNIS: see DALLAS SMSA 6,224 19,400 5,214 7,179 8.7 EULESS: see FORT WORTH SMSA  + 9 -52 -24 -1 -19  + 28 -11 + 6 + ' +  

Percent change 	Percent change
Local Business Conditions 	Local Business Conditions 
Feb 1965 Feb 1965 Feb 1965 Feb 1965 Feb from from Feb from from City and item 1965 Jan 1965 Feb 1964 City and item 1965 Jan 1965 Feb 1964 
EULESS (pop. 10,500r) 
EL PASO Postal receipts• ... . ... .$ 6,079 -20 -89
Standard Metropolitan Statistical Area 

Building permits, less federal contracts $ 109,71S -60 -66
(pop. 339,2401; El Paso2) 

Bank debits (thousands) . . . . $ 5,339 12-+ 29 
Buildin1 permits, less federal contracts $ 4,282,305 -42 + 8 	End-of-month deposits (thousands) i . .$ 2,429 •• •• Annual rate of deposit turnover . . . .. . 26.4 -5
Bank debits (thousands) ... ..... .....$ 4,964,316 + 14 + 12 + 29 Nonfarm employment (area) . . . . . . . . . 94,000 •• + 2 
GRAPEVINE (pop. 4,659r) 
Manufacturing employment (area) . 16,SlO 1 + 5 Postal receipts• .$ 5,032 -9 +SS
Percent unemployed (area) .. .. . 5.5 + 4 -7 
Building permits, less federal contracts $ 25,600 -55 + 44 EL PASO (pop. 276,687) Bank debits (thousands) . . . . . .$ 3. 702 7 + 17 Retail sales . . . . . . . . . . .. -2t -4 + 14 End-of-month deposits (thousands) i . .$ S.482 5 + 11 
Apparel etores . . . . . . . . . . . . . . . . . . . . -19t -17 + 2 Annual rate of deposit turnover. . . . . . 12.4 + 8 Automotive 1torea . . . . . . . . . . . . . . . . . + 14t + 28 
NORTH RICHLAND HILLS (pop. 8,662) 
Druptores . . . . . . . . . . . . . . . . . . . . . . . -6t + + 4 Building permits, less federal contracts $ 452.208 + 68 +245Food etores . . . . . . . . . . . . . . . . . . . . . . . -7t 7 -5 Bank debits (thousands) . . ..$ 6,732 -8 + 52General merchandise stores. . . . . -lSt 2 •• End-of-month deposits (thousands)t.. $ 4,165 -3 + 28Poatal receipts• . . . . . . . . . S 342,360 8 + 9 Annual rate of deposit turnover . 19.l -11 + 21Buildin1 permits, less federal contracts S 4,258,405 -42 + 7 
Bank debits (thoueands) ......... ... . S S76,762 6 + 11 WHITE SETTLEMENT (pop. 11,513) 
End.of-month deposits (thousands)t..$ 215,392 + 5 + 12 Building permits, less federal contracts $ 144,983 +288 +t21 
Annual rate of deposit turnover. 21.5 9 + 1 Bank debits (thousands) . . ... .$ 1,361 + 7 

End-of-month deposits (thousands)t . . $ l,032 -2 
Annual rate of deposit turnover . 15. 7 + 11 FORT STOCKTON (pop. 6,373) Poatal receipts• ....... .. .... ........$ 6,187 -19 + 4 FREDERICKSBURG (pop. 4,629) Buildln1 permits, less federal contracts $ 93,900 +166 + 11 Retail sales Bank debits (thoueands) .. . . .. ... .. .. S 5,488 4 + 8 Drug!<tores -6t -5 + 10 End.of-month deposits (thoueands)t.. $ 5,591 4 + 5 General merchandise stores . -13t -24 + 7 Annual rate of deposit turnover .... . . 11.6 6 + 1 Postal receipts• .. ........... .$ 6,464 -28 + 8 
Building permits, less federal contract. $ 75,065 + Sl +179 Bank debits (thousands) . .$ 9,315 -12 + 4 FORT WORTH End-of-month deposits (thousands) i . .$ 8,479 7 8 
Standard Metropolitan Statistical Area Annual rate of deposit turnover . 12.7 -6 + 7 (Pop. 603,4471; Johnson and Tarrant2) FRIONA (pop. 3,049r) 
Buildln1 permits, lees federal contracts $ 8,393,147 -1 + 10 Building permits, less federal contracts $ S5,250 -S3 + Bank debita (thouaands) ............ . $12,110,556 + 10 + 9 Bank debits (thousands) . .$ 7,459 -40 + 19 Nonfarm employment (area) . . . . . . . . . 233.900 •• + 8 End-of-month deposits (thousands) i $ 5,906 -11 + 2 
Manufacturing employment (area) . 60,175 •• + 7 Annual rate of deposit turnover . 14.3 -39 + 59 Percent unemployed (area) . . . . . S.9 -s -15 
·~ \.INESVILLE (pop. 13,083) ARLINGTON (pop. 53,024r) Retail sales Retail sales Drugstores .... .... . . Gt + ts + 16 
Lamber, building material, 	Furniture and household 
and hardware stores + 19t -18 -14 appliance stores . . .... . 7t -25 + 2 Poatal receipts• .... .............. ... S 76,467 + 3 + 11 Postal receipts• ....... ..... .$ 15,787 -15 + 2 Bulldln1 permits, less federal contract.a $ l,522,890 + 5 -22 Building permits, less federal contracts $ 187,260 +101 + 29 
GALVESTON-TEXAS CITY 

CLEBURNE (pop. 15,381) Standard Metropolitan Statistical Area 
Poatal receipts• .. $ 18,434 + 18 + 19 
(pop. 149,4051; Galveston2) 

Bulldln1 permits, less federal contracts $ 170,989 +145 -9 Building permits, less federal contracts $ 1.494,583 + 1S5 + 82
Bank debita (thoueands) . . . . S 12.235 -17 -3 Bank debits (thousands) ........... ..$ 1,809,396 + 7 -1
End.of-month deposits (thousands) i . .$ 12,464 •• •• Nonfarm employment (area) . 54,800 ••Annual rate of deposit turnover.. ... . 11.8 -14 •• 
Manufacturing employment (area) . 10,150 8 2 Percent unemployed (area) . 5.9 + 4 2 
FORT WORTH (pop. 356,268) GALVESTON (pop. 67,175) 
Retail salea .... ................ . -4 -9 6 

Retail sales 	-2t -11 +
Apparel atorea ............... .... . -21 -27 6 

Apparel stores 	-19t -12 •• Automotive atores ..... ... ... ... . . . + 5 -11 4 
Automotive stores 	+ 14t + 10 + 9 
Druptorea .. .................... . -4 + 2 + 7 

Food stores ....... ....... ........• 7t -8 +

Eatln1 and drlnkin1 places.. ... .. . -5 -10 + 2 Furniture and houeehold

Florieta .. ........... ..... ....... . + 18 + 8 	54 13

appliance stores 	7t -­
Food etorea .... ..... . 
s + 4 9 
Postal receipts• 	. S 122,949 + 20 + 24 Furniture and houaehold Building permits, less federal contract.a S 291.069 -17 -57 
appliance etores 	5 -15 9 Bank debits (thousands) . .$ 86,640 -14 
Guoline and service etations. 	-6 + ' End-of-month deposits (thousands)l.. $ 59,714 -2 2 

General merchandise etores. . .. -13 -23 -14 	17.3 -11 2
Annual rate of deposit turnover .

Lumber, buildin1 material, and hardware atoree. . . . . . . . . . . . . + 6 + 2 + 24 LA MARQUE (pop. 13,969) Poetal recelpta• ............. .. ......s 872,873 9 + 2 Postal receipts• . S 9,722 -19 .. 
385.514 +243 +229

Balldln; permlta, less federal contract.a $ 4,330,876 + 38 Building permits, less federal contracta S Bank deblta (thoueands) . .. ... ... ... $ 829,910 -11 + 6 Bank debits (thousands) . $ 11,643 + 9 + 10 End.of-month depoelta (thouaanda)t .. $ 414,067 •• •• End.of-month deposits (thousands)l. $ 6,461 6 + 14 
-

Aanaal rate of depoait turnover. . . . . . 24.0 -10 + 8 Annual rate of deposit turnover . . . .. . 20.9 + 9 5 
Percent change Percent chance
Local Business Conditions Local Business Conditions 
Feb 1965 Feb 1965 Feb 1965 Feb 198& Feb from from Feb from from 
City and item 1966

1965 Jan 1965 Feb 1964 Jan 1965 Feb 1"4City and item 
HALE CENTER (pop. 2,296r)TEXAS CITY (pop. 32,065) 
Postal receipta• .$ 2,189 + 1 + 9 
Postal receipts• $ 25,185 -16 -6 Buildinll' permita, less federal contracts $ 16,675 -86 _ 46 Buildinll' permits, less federal contracts $ 818,000 +368 +141 
Bank debits (thousands) ............ .$ 4,109 -86 + 12 

Bank debits (thousands) $ 27,308 -13 + 21 
End-of-month deposita (thouaanda)t..$ 4,682 -16 _ 4 End-or-month deposits (thousands) i . .$ 14,607 -9 -4 Annual rate of deposit turnover. . . ... 9.6 -84 + u 
Annual rate of deposit turnover 21.4 -11 + 22 
HARLINGEN: see BROWNSVILLE-HARLINGEN-SANGARLAND: see DALLAS SMSA 
BENITO SMSA GATESVILLE (pop. 4,626) 
8 HEMPSTEAD (pop. 1,505)
Postal receipts• ........ .... . ..$ 6,280 + 10 

Retail sales
Bank debits (thousands) .$ 5,634 -10 + ' Automotive stores + 14t + 46 + 19End-or-month deposits (thousands>i . . $ 6,303 •• + 7 Postal receipts• .. ... ... ... . 6,lSO +ta +uAnnual rate of deposit turnover. 10.6 -7 2 
Bank debits (thousands) . . . ...... . $ l,474 -11 + 7 End-of-month depasita (thouaandlli..$ 2,117 •• 1
GEORGETOWN (pop. 5,218) 
Annual rate of deposit turnover . .... . 8.S -ta + 9
Postal receipta• .. .$ 7,243 + 19 + 32 Building permits, less federal contracts $ 30,300 -88 -18 
HENDERSON (pop. 9,666)
Bnnk debita (thousands) . . ....$ 4,591 -IS -7 
Postal receipta• . $ 10,717 -21 ••
End-of.month depoeita (thouaandlli..$ 5,766 -s + 5 
Building permits, less federal contracts $ 128,800 + 61 + 78Annual rate of deposit turnover . 9.4 -16 -18 
Bank debits (thousands). . $ 8,510 + 2 +40 End-of-month deposits (thouaands) i . .$ 18,450 1 + 4
GIDDINGS (pop. 2,821) 
Annual rate of deposit turnover. 5.6 + 2 + 18 
Poatal receipta• . . . . . . . . . . . . .. $ 4,166 + 5 •• 

HEREFORD (pop. 9,584r)

Buildinir permita, less federal contracta S 6,660 -66 -70 
Bank debita (thousands) . .$ 2,918 -24 -7 Postal receipta• . $ 12.025 + 2 + 4 
End-or-month deposits (thousands) i . .$ 4,211 + 1 + 2 

Buildinir permita, less federal contracts $ 269,400 + 21 7 
Annual rate of deposit turnover. 8.8 -21 -10 

Bank debits (thousands) . . . S 20,704 -81 9 
End-of-month deposita (thouaands) i . .$ 16,140 -8 a 
GLADEWATER (pop. 5,742) Annual rate of deposit turnover. 14.8 -27 
Poatal receipta• .. . ... ... ...$ 7,804 + 13 + 2 

HOUSTON

Buildinir permit&, less federal contract& $ 6,500 -86 -93 
Bank debita (thousands) . . . ... ....$ 4,276 -12 + 29 

Standard Metropolitan Statistical Area 
End-of-month deposits (thousands)t . . $ 4,513 •• + 18 (pop. 1,373,8721; Harris2) 
Annual rate of deposit turnover. . . . 11.4 4 + 10 Building permits, less federal contracta $31,169,226 + 41 •• 
Nonfarm employment (area) . 80,660 + 1 + 6 Bank debits (thousand&) ..... .... . . . . $50,713,128 + 5 + 8 
Manufacturinll' employment (area) . 7,060 + 2 + 28 Nonfarm employment (area).. .. .. 578,800 •• + I 
Percent unemployed (area) . 8.6 -12 -86 Manufacturinir employment (area) . 105,000 + 1 + 9 
Percent unemployed (area) . 8.5 •• -1• 
GOLDTHWAITE (pop. 1,383) 

BAYTOWN (pop. 38,000r)

Poatal recelpta• . . . . . . . . . . . .. $ 2,183 4-+ 24 Retail sales -2t + 8 -7 Bank debita (thousands) ...... ..... .$ 2,771 -26 -28 Automotive stores ... . . . . .. . . ..... . + 14t -14 -17 End-of-month deposits (thousands) i . .$ 5,454 -4 1
-
Food stores ..... . ... ... ..... .. .. . . -7t 4 1 

Annual rate of deposit turnover. 6.0 -24 
-21 Postal receipta• .. . ..... . . .. ....S 84,286 9 
+ ' I ' 
Buildinir permits, less federal contracts $ 801,289 a

GRAHAM (pop. 8,505) 
Bank debits (thouaanda) ... . . ... .. ...$ 82,490 4Retail sales End-of.month deposits (thouaandali..$ 28,584 8 + IApparel stores ... 

-19t -42 + 1 

Annual rate of deposit turnover..... . 18.6 4 -2 -IS
Poatal receipta• . . . . . . .... . . ..$ 8,993 • Bulldlnir permit&, less federal contracta S 9,474 -88 +492 BELLAIRE (pop. 21,182r) Bank debita (thousands) . . . ........$ 9,046 -14 + s Postal receipta• .................S 44,118 + 19 + 21 End-of-month deposits (thousands)t .S 9,724 4 4 Iluilding permits, less federal contracta $ 167,825 +694 +ae& Annual rate of dep"lsit turnover . 10.9 -9 Bank debits (thousandl) ..... ....... . $ 19,SOO -10 + 10
+ 6 

End-of-month deposita (thouaands) i . .$ lS,414 -8 + 19 GRANBURY (pop. 2,227) Annual rate of deposit turnover..... . 17.0 -10 -. Postal rec el pta• .... .$ 4,010 ­
6 + 6 DEER PARK (pop. 4,865)
Bank debits (thousands) ......... ... .s 1.574 

-17 + 1 Postal receipta• . ... .. ...............$ 6,978 + a +u 

End-of-month deposits (thousands>i . S 2,297 -1 + 12 Building permits, less federal contracta S 280,050 + 89 -79 Annual rate of deposit turnover. 8.2 
-16 10 

Bank debits (thousands) ....... .. ....$ 6,926" + 61 + 7 GRAND PRAIRIE: see DALLAS SMSA End-of-month deposit& (thouaands) i . .$ 2,827 -16 + 14 Annual rate of deposit turnover . 27.0 + 56 7 GRAPEVINE: see FORT WORTH SMSA 
HUMBLE (pop. 1,711) 
GREENVILLE (pop. 22,134r) Postal receipta• ... .. .. . .... . ...$ 8,912 + 21 8 
Retail sales . . . . Building permit&, less federal contracts $ 74,200 +209 +281

-2t + 6 + 8 

Automotive 1torea Batik debits (thousand&) .. ... .. .. . .. . $ 8,697 -1 + !8
+ 14t + 11 + 14

Druptorea End-of-month deposits (thousandsli..$ S,678 •• + 8
-St 6 + 10

Food stores Annual rate of depasit turnover. 12.1 -4 + 11
-7t + 2 -4

Postal receipt.a• . $ 
26,699 + 7 + 13 KATY (pop. 1,569)
Buildinir permit&, I~ fed~r~j c~ntr~;;,; $ 238,971 --12
63 +265 Postal receipta• . $ 2.295 -18Bank debits (thousands) S 
16,243 -16 + 7 Buildinir permita, less federal contracts $ S0,500 -98 -H End-of-month deposits (thousa~ds) i $ 13,959 

-I + 3 Bank debita (thousands) ............ .$ 2.560 4 + 17 

Annual rate of deposit turnover 
13.9 -13 + 6 End-of-month deposita (thouaanda)t..$ 8,155 8 + 14Nonfarm placements . . .. : ... .. 
93 -8 2 Annual rate of deposit turnover..... . 9.5 8 
-' 

114 TEXAS BUSINESS REVIEW 
Percent ehantre Percent chance
Local Business Conditions Local Business Conditions 
Feb 1966 Feb 1966 Feb 1965 Feb 1965 Feb from from Feb from from CltJ' and Item 1966 Jan 1965 Feb 1964 City and item 1965 Jan 1965 Feb 1964 
HOUSTON (pop. 938,219) JASPER (pop. 5,120r) 
Retail sales .............. .. . -2t -2 -8

Bdall ul• .. .......... ............ . -8 
Apparel atorea . ... ... . .. .. ....... . --14 ' -22 + •• ' Automotive atorea .. . + 14t •• -14 

General merchandiae atorea. . . -13t -86 -18Automotive atorea ... . ..... . . . . . . . . 2 + 8 + 16 

Postal receipts• ........... . $ 8,044 -24

Draptorea ····· . ... . ... . ........ . -7 -1 + 1 -8 

Building: permits, leaa federal contracts S 27,559 -68 + 47
Eatlns and drlnldq places......•. -4 -11 + 2 
Bank debits (thousands) . . ... .S 10,702 6 + 5
Flori.ta ...... . .. .. .... .. ..... . .. . + 21 + 12 
End-of-month deposits (tbouaandaH. S 8,181 + 3 1
-Annual rate of depoait turnover . 15.9 6 + 10 
Food lltorea . . .. .. ........... . .... . -4 -8 5 

Furniture and hoa8ebold 
appliance atorea . . . . . . . . . . . . . . . . 2 -22 + 5 

KERMIT (pop. 10,465)
Guollne and oervlce atatlone. . . . . . . 7 -2 + 5 
Retail sales 
General mercbandl1e lltorea. . . . . . . . . 7 -17 1 Lumber, building: material,Liquor lltorea . . . . . . . . . . . . . . . . . . . . . 8 8 + 8 
and hardware lltorea..... 19t + 28 -84
Lamber, balldlq material, 

Poatal receipts• . . . .. . .. .. . . .. .... $ 7,635 5 -8
and hardware lltorea............ . 2 + 16 


Building: permita, leaa federal contracta S 80,500 + 4 +101 
POltal receipts• ........... .. ..... . .. S 2,225,653 •• + 7 
Bulldlns permits, leas federal contraete $26,852,014 +SS 6 

KILGORE (pop. 10,092)

Bank debits (thousands) . . . . .. . . ... ..S 3,641,864 -15 + 6 
Postal receipta• ..... . S 12,524 -16 -20 End-of-month depoelts (thoueands) i . .S 1,606,596 •• + 6 
Building: permita, leas federal contracts S 47,500 -87 -58 Annaal rate of depo11lt turnover. . . . . . 27 .1 -10 •• 
Bank debita (thousands) . . . S 12,074 9 + 8 End-of-month deposits (thousands) i . .S 13,405 + 2 + 8
LA PORTE (pop. 7,250r) 
Annual rate of deposit turnover ..... . 10.9 8 + 1 Bulldlns permits, 1-federal contraete S 62,000 -5' -68 
Nonfann employment (area) . 80,550 + 1 + 8

Bank debits (thousands) .............S 4,111 -12 -12 

Manufacturing: employment (area) . 7,060 + 2 + 28 End-of-month depoelts (thoueandsH..S 2,678 4 6 
Percent unemployed (area) . S.6 -12 -88 Annaal rate of depoelt turnover. . ... . 18.1 -4 -6 
KILLEEN (pop. 23,377) PASADENA (pop. 58,737) Poatal receipta• . ................. . ..S 47,724 •• + 12 Retail eal• . . . . . . . . . . . . . . . . . . . . . . . . . -2t -4 + 18 Buildins permits, leas federal contracts $ 986,668 + 65 -68 
Apparel lltorea .. : . . . . . . . . . . . . . . . . . -19t -28 + 17 Bank debita (thousands) . . S 18,781 -12 + 2 Automotive ltorea . . . . . . . . . . . . . . . . + 14t -2 + 26 End-of-month depoaita (thousanda) l .. S 12,474 8 General merchandi1e lltorea . . . . . . . -18t •• -4 Annual rate of depoait turnover. 17.3 + 2 + •' 
Poatal receipts• .. . ..... ... ...... .. .. S 49,874 -1 + 11 KINGSLAND (pop. 150) 
Bulldlns permits, leas federal contraete S S,080,600 +115 +844 

Poatal receipta• . S l ,SS2 + 68 +129 Bank debit. (tbouaands) .. .. .........S 69,158 7 + 28 
Bank debits (thousands) . .S 1,000 + 29 + 88 End-of-month depoalts (thousandsJi.. S 81,684 8 + 5 
End-of-month deposita (thousand•) l .. S 624 -10 + 28 Annaal rate of deposit turnover. . . . . . 22.1 + 18 
Annual rate of deposit tumover... .. . 18.2 + 86 + 1 
KINGSVILLE (pop. 25,297) 

Poatal receipt.• .. ................. .. S 8,528 •• + 8 Retail sales .... -2t 8 -16 Automotive atorea ... . . . .. . . .. . ... . + 14t 1 -28 
SOUTH HOUSTON (pop. 7,253) 
Bulldlns permit., leas federal contraete S 54,685 +161 -41 Bank debit. (thousands) .......... . .. S 6,574 -10 + 11 Druptores ........... . ... . -St + 1 + Ii End-of-month depoalts (thouaandsli.. $ 5,786 + 5 + 20 Postal receipta• .... S 18,020 5 •• Annaal rate of depoalt tumover..... . 14.1 -11 -7 
Building: permita, leas federal contracts S 217,488 +144 +soo Bank debits (thousand•) . S 10,829 -12 -12 TOMBALL (pop. 2,025r) End-of-month depoaita (thousand1)l .. S 15,461 -1 + 9 Annual rate of depoait turnover 8.4 -16 -111
Bulldlns permits, leas federal contraete S 4,000 -88 Bank debit. (thousands) . . S 7,108 -8 -12 KIRBYVILLE (pop. 2,021r) End-of-month depo1lts (tbousandsH.. S 6,624 -8 + 1 Poatal receipts• ............ ........ . S 4,118 + 15 + 12 Annual rate of depoalt tumover. 12.7 -11 -15 Bank debita (thousands) . . S l,982 -26 -11 
End-of-month deposits (thousand•) i . .S 8,425 -2 + 8 BUMBLE: see HOUSTON SMSA 
Annual rate of depoait tumover.. . .. 6.7 -20 -16 

LA FERIA: see BROWNSVILLE-HARLINGEN-SAN HUNTSVILLE (pop. 11,999) 
BENITO SMSA 

Po.ta! receipt.• ........ .. ..... .. ....S 17,042 + 19 + 88 

LA MARQUE: see GALVESTON-TEXAS CITY SMSA 

Bulldlns permltl, leas federal contraete S 44,900 + 6 -66 
Bank debit. (thousands) .......... .. . S 8,105 -10 6 LAMESA (pop. 12,438) 
End-of-month depoelts (thouaandsH..S 10,861 + 8 + 2 

Retail sales Annaal rate of depo11lt turnover. .... . 9.5 14 7 . --29
-Automotive atorea ........ + 14t 4 Druptores ... 6t •• + l IOWA PARK: see WICHITA FALLS SMSA Lumber. building material, and hardware stores. . ..... . + 19t + 4 + 7 IRVING: see DALLAS SMSA Poatal receipt.• . . . . . . . . . . . . . .. S 12.209 -21 -11 
Buildins permits, leas federal contract. S 77,000 -62 -74 JACKSONVILLE (pop. 10,509r) Bank debits (thousands) S 17,005 -84 -10 POltal receipt.• .....................S 20,787 •• + 86 End-of-month deposita (thousands) l . . S 16.570 -8 -17 Bulldlns permits, 1-federal contraete s 29,000 -89 -14 Annual rate of deposit turnover. 11.8 -31 + 11 Bank debits (thousands) .... . ..... ...S 18,287 -14 -2 Nonfann placements 77 + 26 + 40 End-of-month depoelts (thoueands) i . .S 10,481 -6 + 9 
LAMPASAS (pop. 5,670r)
Annual rate of depo11lt turnover. . .. . . -12

14.7 -10 Poatal receipta• .. . S S,SlO -10 -14 Building: permits, leas federal contrac:ta $ 79,750 +104 -49 JUSTIN: see DALLAS SMSA Bank debita (thousands) . S 6,141 -19 7 
End-of-month depoaita (thousands) i . .S 6.025 -4 KATY: see HOUSTON SMSA Annual rate of depoait tumover . .... . 12.0 -15 8 
Percent change 	Percent chan1e
Local Business Conditions Local Business Conditions 

Feb 1965 Feb 1965 Feb 1965 Feb 1966 Feb from from Feb from from 
City and item

1965 Jan 1965 Feb l!l64 	1965 Jan 1965 Feb 196tCity nncl item 
LUBBOCKLA POHTE: see HOUST0:-.1 SMSA 

Standard Metropolitan Statistical Area LAI?EDO (pop. 174,8441 ; Lubbock~) Building permits, less federal contracts $ 4,264,684 + 47 -87
Standard Metropolitan Statistical Area 

Bank debits (thousands) .............S 3,061,428 18 -9

(pop. 69,0441 ; Webb") 

Nonfarm employment (area) . 58,200 1 
+ 

Building permits. less federal contracts $ 480,400 +395 +160 Manufacturing employment (area) . 6,610 + 2 + 11 Bank debits (thousands) .. .... .. .....$ 476,616 + 3 + 9 Percent unemployed (area) . 4.2 + + 20 NonCarm employment (area) . . 19,950 •• + 6 LUBBOCK (pop. 155,200r) 
Manufacturing employment (area) . 1,340 1 + 2 	-11
Retail sales -2t Percent unemployed (area) . 12.9 -1 8 + ' 
Apparel stores -19t -17 + 7 LAHEDO (pop. 60,678) Automotive stores + 14t + 11 Retail sales 6t + + 8
Drugstores 	5 

Apparel stores -19t -1 + 11 Furniture and household Postal receipts• $ 42,935 •• + 19 appliance stores 7t -47 -20 Building permits. less federal contracts $ 480,400 +395 +160 General merchandise stores . 13t -28 -8 Bunk debits (thousands) . .. $ 85,976 -16 + Lumber, building material, End-of-month deposits (thousandsH . . $ 27,621 -1 + 2 and hardware stores + 19t -49 -18 Annual rate of deposit turnover . 15.5 -12 + 3 Postal receipts• . .....$ 218, 160 -14 + 2 
Nonfnrm plnrements 456 + 14 15 	Building permits, less federal contracts $ 4,174,384 + 45 -39 Bank debits (thousands) .............$ 242,513 -44 -11 End-of-month deposits (thousandsH .. $ 137,879 -6 + 8
LEVELLAND (pop. 12,117r) 
Annual rate of deposit turnover . 20.5 -40 -18 Retail sales 
Automotive stores + 14t -8 -22 SLATON (pop. 6,568) Postal receipts• ............. .$ 9,133 -17 -3 
Postal receipts• $ 4,024 -84 -4 Building permits, less federal contracts $ 174,950 +135 + 37 
Building permits, less federal contracts $ 0 Dank debits (thousands) . . .....$ 18,784 -50 
+ 
22 B11nk debits (thousands) . .$ 4,894 -SS -7 End-of-month deposits (thousands) i . .$ 15,989 

+ 
24 + 19 End-of-month deposits (thousandsIi.. $ 4,225 -13 -11 Annual rate of deposit turnover. 


15.6 -46 + 19 Annual rate of deposit turnover 11.6 -81 + 5 
LIBERTY (pop. 6,127) LUFKIN (pop. 17,641) -16 -8
Postal receipts• $ 7,323 Postal receipts• . $ 27,261 -12 + 2 Buildinir permits, less federal contracts $ 37.425 -74 +223 Building permits, less federal contracts $ 437,518 + 54 + 89 Dank debita (thousands) .. . .. $ 8,766 -20 Bank debits (thousands) . . .... . . $ 33,092 -20 + End-of-month deposits (thousands>: .. $ 9,865 -1 -23 End-of-month deposits (thousands) i. $ 28,594 -10 •• AnnuRI rate of deposit turnover . 10.6 -18 Annual rate of deposit turnover . 13.2 15 + 1 
Nonfarm placements 	60 + 8 + 20 

LLANO (pop. 2,656) McALLEN (pop. 32,728) 
Postal receipts• ....... .$ 2,866 + 7 

+ Retail sales 	-2t -7 + 9Building permits, less federal contracts $ 12,000 + 12 
Apparel stores 	-19t -20 1

Bank debits (thousands) . ....... .$ 2,975 20

-

+ 6 Automotive stores 	+ 14t + 9End-of-month deposits (thousands) i .. $ 4,206 -8 
+ 8 Furniture and household
Annual rate of deposit turnover . 8.4 ­
18 + appliance stores -7t 8 + 29 
Gasoline and service stations . -2t + 5 
LOCKHART (pop. 6,084) Postal receipts• ...... .. $ 36,491 + 6 

Retail sales 
Building permits, less federal contracts $ 254,179 •• + 48 Automotive stores + 14t -27 Bank debits (thousands) . .... . .. .....$ 34,162 -10 + 6
+ 5 

Postal receipts• ...... .$ 4,790 -20 End-of-month deposits (thousands) i . .$ 21.898 5 -6 Duildinir permits, less federal contracta $ 25,500 Annual rate of deposit turnover. 18.2 -6 + 9 
+ 6 

53 +129 Dnnk debits (thousands) .......... .$ 4,845 Nonfarm placements .. .......... . 294 14
-

-15 + 2 	-2 
End-of-month deposits (thousands) i. $ 5,631 + + 4 Nonfarm employment (s.rea) . . . 43,850 •• + 8 Annual rate of deposit turnover . 10.4 -14 + 1 Manufacturing employment (area) . 5,150 •• -1 
+

Percent unemployed (area) . 8.3 -22 
LONGVIEW (pop. 40,050) 

McCAMEY (pop. 3,350r) 

Retail salea 
2t 12 
+ 3 
Postal receipts• . . . . . . . . . . . . . . $ 2,698 -19 -80Apparel stores 
19t 11 -11 
Automotive stores 

Bank debits (thousands) ........ .$ 1,607 -12 -7

+ 14t 13 + 7

Drugstores 	End-of-month deposits (thousands) i . .$ 1,762 -3
St + 10 + 16 	+ ' 
Annual rate of deposit turnover . 10.8 --10

Lumber, building material, 	15 
and hardware stores + 19t 
-14 + 11 

Postal receipts• .$ 57 ,670 2 	McGREGOR: see WACO SMSA 
-1 

Building permits, less federal contracts $ 2,608,300 +443 +723 
McKINNEY: see DALLAS SMSA

Bank debits (thousands) . . .... .$ 55,.)29 
-12 + 16 

End-of-month deposits (thousands) i $ 41,528 	MARSHALL (pop. 25,715r) 
+ 1 + 6 

Annual rate of deposit turnover . 16.2 8 + 13 Retail sales -2t -21 -4 Nonfarm employment (area) . 30,550 + 6 Apparel stores -19t -40 -11
+ 

Manufacturing employment (area) 7,060 	Postal receipts• .. . ... . . .. .. . ....... .$ 29,997 + 1 + 7

+ + 23 Pe rcent unemployed (area) 3.6 

-12 -36 Building permits, leas federal contracts $ 115,971 -85 + 68 
B11nk debits (thousands) ........ .$ 17,624 -14 + 1 
LOS .FlrnS.'IOS: see BROWUSVILLE-HARLINGEN­23,295 + 2

End-of-month deposits (thousands) i . .$ 
+ ' 
Annual rate of deposit turnover. 9.2 -12 -1

SA~ BE~ITO SMSA 
Nonfarm placements ........ ... . • . 220 + 45 + 27 


116 
Percent change 	Peroent ohange
Local Business Conditions 	Local Business Conditions 
Feb 1965 Feb 1965 Feb 1965 Feb 1965 Feb from from Feb from from City and item 1965 Jan 1965 Feb 1964 City and item 1965 Jan l!l65 Feb 1964 
MERCEDES (pop. 10,943) 	NACOGDOCHES (pop. 15,450r) 
Poetal receipts• .. ... ....... .. . " $ 5,970 -6 -7 Retail sales Building permits, leas federal contracts $ 35,021 +122 -24 Apparel stores . . . . ....... . . -19t -14 -4 Bank debits (thousands) . .. . $ 5,956 •• + 8 Postal receipts• . . . . . . . . . . . . . S 22,S69 + IS + 25 
End-of-month deposits (thousands); . $ 3,678 6 + 1 Building permits, less federal contracts $ 179,706 + 93 + 91 Annual rate of deposit turnover . 18.8 + 3 + 9 Bank debits (thousands) . . .. . . . ..$ 21,760 -17 + 6 End-of-month deposits (thousandsH . . $ 19.979 .. + 2 
Annual rate of deposit turnover. 13.0 -17 Nonfarm placements SS -22 6 
MESQUITE: see DALLAS SMSA 	+ 4 
MEXIA (pop. 7,621r) 
NEDERLAND: see BEAUMONT-PORT ARTHUR­
Poetal receipts• ... .................. $ 5,668 -17 -9 
Building permits, leas federal contracts $ 0 ORANGE SMSA 
Bank debits (thousands) . . .... . $ 4,530 -10 + 8 
End-of-month deposits (thousands) i . .$ 4,977 5 -8 NEW BRAUNFELS (pop. 15,631) 
Annual rate of deposit turnover. . .. . 10.7 -7 + 10 Postal receipts• . . . .$ 20,474 -2 -4 

Building permits, less federal contracts $ 93,159 -55 -SS Bank debits (thousands) . $ 12,141 -13 2 End-of-month deposits (thousands) i . .$ 12,625 -1 + 6 
MIDLAND 
Standard Metropolitan Statistical Area 

Annual rate of deposit turnover. . . . 11.5 	-12 -7
(pop. 66,8901; Midland2) 

Building permits, leas federal contracts $ 709,840 -72 -21 NORTH RICHLAND HILLS: see FORT WORTH SMSA Bank debits (thousands) ..... ...... . $ 1, 728,216 -1 + 6 Nonfarm employment (area) . . . . .. . . . 56,000 •• + 1 ODESSA 
Manufacturing employment (area) . 4,160 + 1 + 2 Standard Metropolitan Statistical Area 
Percent unemployed (area) . . . 8.7 -8 -12 (pop. 86,1531 ; Ector2) 
Building permits, less federal contracts $ 682,931 + 22 + 10

MIDLAND (pop. 62,625) 
Bank debits (thousands) .... .........$ l,104,588 	+ 13 + 4 

Retail sales ....... .. .. ... ...... -2t -20 -2 

Nonfarm employment (area). 5o,000 •• + I 
Drugstores ... ........ ... ... -Gt -6 -1 

Manufacturing employment (area) . 4,160 + 1 + 2 

Poetal receipts 	105,025 + 4 + 12
. ··· ··· ··· ··· ·· ······ .$ 	Percent unemployed (area) . S.7 -8 -12
Building permits, leas federal contracts $ 709,840 -72 -21 
ODESSA (pop. 86,937r) 
Bank debits (thouaanda) . ... ... .... ..$ 127,098 -22 + 2 
Retail sales -2t 	-17 + 4
End-of.month deposits (thousands) i . .$ 116,206 -2 + 12 Apparel stores . . . . . . . . . . . . . . . . ... -19t -45 -10
Annual rate of deposit turnover.. .. 13.0 -19 -9 
Furniture and household

Nonfarm placements .. ....... .... 682 + 23 + 11 appliance stores -7t -24 -12 
General merchandise stores . -!St -18 ••

MIDLOTHIAN: see DALLAS SMSA 
Postal receipts• ... ........ .. .$ 84,014 -4 + s Building permits, less federal contracts $ 682,931 + 22 + 10
MINERAL WELLS (pop. 11,053) 
Bank debits (thousands) . .. . " . $ 71,712 	-10 6 Poetal receipts• . . . . . . . . . . . . . . $ 16,888 + 15 + 48 
End-of-month deposits (thousands);. .$ 7S,118 	+ s -6 Building permits, leas federal contracts $ 83,000 -62 -60 
Annual rate of deposit turnover ... . . 12.0 	-17 + 7 Bank debits (thousands) . . .. . $ 12,190 + 6 
Nonfarm placements ....... ..... 414 	+ 16 + 14 

End-of-month deposits (thousands) . . $ 11,203 -5 
Annual rate of deposit turnover... 12.7 + 11 

ORANGE: see BEAUMONT-PORT ARTHUR· 

Nonfarm placements .. . 	62 + 2 -2 
ORANGE SMSA 
MISSION (pop. 14,081) 

PALESTINE (pop. 13,974) 

Poetal receipts• . . . . . . . . . . . . . . . . . S 8,700 -13 -18 
Building permits, leas federal contracts $ 26,850 -11 -97 

Postal receipts• . . $ 13,30S -22 -8 Building permits, less federal contracts $ 380,800 +128 +809
Bank debits (thousands) . . . . . . . . . $ 10,520 -20 -9 
End-of-month deposits (thousands) i . .$ 8,828 + 2 + 8 

Bank debits (thousands) . . .. .. $ 12,668 6 + 11 End-of-month deposits (thousands) i . .$ 16,341 6 +
Annual rate of deposit turnover. 14.4 -17 -11 Annual rate of deposit turnover. 9.0 8 + 7 
MONAHANS (pop. 9,252r) 
PAMPA (pop. 24,664) 

Postal receipts• .. .... .............. . 10.295 -4 + 19 Building permits, leas federal contracts S 112,550 -21 -59 Retail sales -2t + 8 + 8 Bank debits (thousands) . ... . .. ... .. S 9,989 8 8 
Automotive stores + 14t + 16 + 8 Eating and drinking places . -st -11 + 4End-of-month deposits (thousanda) i . .$ 7,588 2 --7t -16 -84

Food stores 

Postal receipts• s 26,551 -13 + 17 MOUNT PLEASANT (pop. 8,027) Building permits, le88 federal contracts $ 139,066 + 43 -2 Retail aalea Bank debits (thousands) . .. s 25,441 9 + 19 
21,031 ­Annual rate of deposit turnover.. ... . 15.6 + 1 

Apparel atorea .... ... . ... . . . . ... . . -19t + 6 -21 End-of-month deposits (thousands) i. s 5 •• Poatal receipts• ... .... ............. . $ 10,848 -12 -11 
Annual rate of deposit turnover. 14.1 	-6 + 15 + -

Bulldlnc permits, leas federal contracts S 167,750 +162 + 89 Nonfarm placements 154 22 28 Bank debits (thousands) . .. . .... . .. . $ 10,208 8 •• 
PECOS (pop. 12,728)

End-of-month deposits (thoWJaDdali..$ 7,990 8 4 . .. $ 10,875 -IS -1
Postal receipts• 

Building permits, less federal contracts s 6,876 -84 -88 MUENSTER (pop. 1,190) Bank debits (thousands) . s 16,672 -12 -5 Poetat receipts• . . . . . . . . . . . . . . . . . . . . S 2,076 + 44 + 88 End-of-month deposits (thousands) i. s + Annual rate of deposit turnover. 15.1 6 + 8 
11.145 s -I -11

Building permits, leas federal contracts S 0 Annual rate of deposit turnover . 18.2 •• Bank debits (thousands) ......... . S 2,431 -12 + 10 Nonfarm placements 
41 -56 -13 

End-of.month deposits (thousands) i $ 2,186 -s -4 
Annual rate of deposit turnover. .. . . . lS.l -10 + 14 PASADENA: see HOUSTON SMSA 

APRIL 1965 	:17 
Percent chanire Percent cbanp
Local Business Conditions 
Local Business Conditions 
·Feb 1965 Feb 198& Feb from from Feb from from 
Feb 1965 Feb 1965 

Jan 1965 Feb 1964 City and item 1966 Jan 1966 Feb 1984
City aud item 1965 
ROCKDALE (pop. 4,481) 

PARIS (pop. 20,977) 
Postal receipts• ............... ...... $ 4,792 -1' + 8

2t -.20 8

Retail sales ---: 
Buildinir permits. leas federal contracts $ 2.960 -89 + 44
Apparel stores -19t -14 7 
Bank debits (thousands) ........ . ....$ 4.178 -16 -7

Automotive stores + 14t -28 
End-of-month deposits (thousands) i . .$ 6,697 -1 + 7
Postal receipts• ..... . . $ 22,084 -26 2 
Annual rate of deposit turnover... 7.6 -16 -18
Buildinir permits, less federal contracts $ 256,407 -28 -69 Nonfarm placements 132 + 61 + 88 ROSENBERG (pop. 9,698) Postal receipts• . . . . . . . . $ 9,186 -17 + 21 PHARR (pop. 14,106) Buildinir permits. less federal contracts $ 74.800 -64 1 Postal receipts• . . .. .$ 6,488 -17 -12 End-of-month deposits (thousands) i . .$ 9,848 -6 + 7 Bulldinir permits, leas federal contracts $ 46,800 + 2 -14 
SAN ANGELO

Bank debits (thousands) .... .$ 4,373 + 2 + 14 End-of-month deposits (thousands) i . .$ 4,276 + 4 + 8 
Standard Metropolitan Statistical Area Annual rate of deposit turnover.. . .. . 12.5 + 4 + 25 (pop. 70,5821; Tom Green2) Building permits, less federal contracts $ 882,860 -46 -20 Bank debits (thousands) ......... .. ..$ 766,144 + 2 + a
PILOT POINT: see DALLAS SMSA 
Nonfarm employment (area) . 20,800 + l + a Manufacturinir employment (area) . 2,860 + 8 -11
PLAINVIEW (pop. 18,731r) 
Percent unemployed (area) .. . .. 4.8 -19
Retail aalea -2t + 5 + 11 
SAN ANGELO (pop. 58,815) 
Automotive 1torea + 14t + 11 + 6 
General merchandiee stores . -l8t -20 + Retail sales -2t -20 + 2 
Postal receipt1• . . . . . . . . . . .$ 30,446 -6 + General merchandise stores. . . -18t 26 + 4

-
Buildinir permits, leas federal contracts S 540,850 -67 -87 Jewelry stores + 27 + 47 
Bank debits (thousands) ............. $ 40,845 -42 8 Postal receipts• . . . . . . . . . . . . .$ 108,665 + 17 +u 
End-of-month deposits (thousands) i . .$ 31,789 -8. + l Building permits. less federal contracts $ 882,860 -46 -20 
Annual rate of deposit turnover . 14.8 -89 -1 Bank debits (thousands) . . . . .. . $ 67,268 -18 + I 
Nonfarm placements ... ... ...... . . 276 + 6 + 28 End-of-month deposits (thousands) i . .$ 60,637 -1 + a 
Annual rate of deposit turnover. 13.6 -16 + 2 
PLANO: see DALLAS SMSA 

SAN ANTONIO Standard Metropolitan Statistical AreaPLEASANTON (pop. 5,053r) 

(pop. 784,2691; Bexar and Guadalupe2)

Retail aalea 
Building permits, less federal contracts $ 5.046,640 + 28 + 19
Druptores -St -10 + l 

Bank debits (thousands) .............$10,084,244 + 7 + 12

Gasoline and service stations. -2t -13 + 18 

Nonfarm employment (area). . . . . . . . . 227,100 •• + e
BulldinK permits, less federal contracts $ 103,850 +649 +744 
Manufacturing employment (area) . 27,276 •• + 7

Bank debits (thousands) . . . .. S 3,868 -7 + 38 
Percent unemployed (area) . 4.9 ••
End-of-month deposits (thousands) i . .$ 3,772 •• + l 
SAN ANTONIO (pop. 655,006r) ' 
Annual rate of deposit turnover . 10.7 -2 + 41 Retail sales -4 -6 2 
PORT ARTHUR: see BEAUMONT-PORT ARTHUR­-16 -28
Apparel stores ..... . . . .... . . .. .. . . a Automotive stores ................ . •• + 2 + 11

ORANGE SMSA 
Drugstores ..... .. ............ .. .. -8 + 8 -I 
Eatinir and drinkinir places....... . -5 -9 -7


PORT ISABEL: see BROWNSVILLE-HARLINGEN­
Florists ........... . . . .......... . . . + 86 +u


SAN BENITO SMSA 
Food stores .. .................... . 8 8 -5 Furniture and household

PORT NECHES: see BEAUMONT-PORT ARTHUR­
appliance store& . . . . . . . . . . . . . . . . 1 + 2 -18 ORANGE SMSA Gasoline and service stations. . . . . . . 6 2 + 2 General merchandise stores........ , 4 
+ 
-' 

QUANAH (pop. 4,564) Lumber, build: 1g material, Postal receipts• .. .................. .$ 4,685 -16 + 8 and hardware stores . . . . . . . . . . . + 2 -26 -16 Buildlnir permits, leas federal contracts $ 6,500 -64 -88 Nurseries . . . . . . . . . . . . . . . . . . . . . . . . . + 16 + 6 
Bank debits (thousands) .. ....... ....$ 4,363 -80 -17 Postal receipts• ...$ 910,668 + 9 + 5 End-of-month deposits (thousands) t .. S 6,399 -8 -11 Building permits, less federal contract. $ 4,292,962 + 14 + 19 Annual rate of deposit turnover . 9.3 -29 -10 Bank debits (thousands) .............$ 747,962 8 + 10 End-of-month deposits (thousands>*..$ 451,812 1 + 8
RAYMONDVILLE (pop. 9,385) 
Annual rate of deposit turnover. . 19.8 7 + I Postal receipts• . . . . . . . . . . . . .....$ 6,534 8 ­
-17 SCHERTZ (pop. 2,281) 
BuildinK permits, leas federal contracts s 39,600 + 22 Bank debits (thousands) . .. . . .......$ 6,995 8 + 79 Postal receipts• . . . . . . . . . . .$ 1,749 -12 + 49 End-of-month deposits (thousands) i. S 7,766 7 Bank debits (thousands) . . . ... $ 585 -10 + 1 
-2 -4 

Annual rate of deposit turnover. 9.2 End-of-month deposits (thousands) i . .$ 1.115 + 1 + a 
-l -4 

Nonfarm placements Annual rate of deposit turnover. 6.8 -8 ••
62 + 16 -19 
SEGUIN (pop. 14,299) •

REFUGIO (pop. 4,944) 
Retail sales 

Retail sales 
Automotive stores . . . . . . . . . + 14t -46 -19 
Lumber, buildinir material, 
Postal receipts• . .. . ... . ..... ...$ 18,178 -2 + 17 
and hardware at.ores 

+ 19t •• + 11 Building permits, less federal contractao $ 840,878 +418 I 
Postal receipts• . . . . . . . . . . . . . .... 6,340 + 29 
+ 84 Bank debits (thousands) . .$ 12,884 -16 + 8 
Buildinlll" permits, leas federal contracts 0 End-of-month deposits (thousands>* ..$ 16,616 -2 + I Annual rate of deposit turnover . . . . . 9.8 -16 + 4
RICHARDSON: see DALLAS SMSA SAN BENITO: see BROWNSVILLE--HARLINGEN:s.AN ROBSTOWN: see CORPUS CHRISTI SMSA 
BENITO SMSA 
Percent cbanire Percent cbanse

Local Business Conditions Local Business Conditions 
Feb 1966 Feb 1966 Feb 1965 Feb 1965 

Feb from from Feb from from City and Item 1966 Jan 1965 Feb 1964 City and item 1965 Jan 1965 Feb 1964 
STEPHENVILLE (pop. 7,359) 

SAN JUAN (pop. 4,371) Postal recelpta• . ....... . . .. .... ... .. S 2.604 -8 •• Postal receipts• . . . .. . . S 18,846 +u + 19 Duildinir permits, less federal contracts S
Balldlnl' permlta, lea federal contracta S 16,160 +797 50,000 + 12 -89 Bank deblta (thousands) ...... . . . .. .. S -12
2,087 -18 Bank debits (thousands) S 6,992 -19 -7 
End-of-month deposits (thouaands>i..S 9,249 -1 + 4 Annual rate of deposit turnover End-of-month deposlta (thousandsIi. .S 2,397 + 1 + 23 

Annual rate of deposit turnover..... . 10.6 -14 -24 9.0 -18 -11 
SULPHUR SPRINGS (pop. 9,160) SAN MARCOS (pop. 12,713) Retail sales Postal recelpta• .. ....... ........... .S 13,308 + 10 -6 Automotive stores + at + 20 + 11 
Food storea

Balldlns permlta, lea federal contracta S 842.640 +879 +483 ... -7t -6 + 8 Bank deblta (thousands) . . . ... .. .... .S -16 -2
9,220 Postal receipts• S 18,117 + 3 + 47 
End-of-month deposlta (thouaands) i ..S 12,626 -8 + 21 Buildinir permits, leas federal contracts S 175,025 + 70 +188 Anaual rate of deposit turnover. 8.7 -19 -19 Bank debits (thousands) . . . .. .S 13,009 -18 8 End-of-month deposits (thousands>: . . S 13,295 -2 + a Annual rate of deposit turnover.. ... . 11.6 -16 6
SAN SABA (pop. 2,728) SWEETWATER (pop. 13,914) 
PoRal recelpta• .. ..... . ........S 8,466 -7 + 10 Balldlnr permits, leu federal contracts S O Postal receipts• . . . . . . . . . . . . . . .. .S 13,623 -28 + 12 
Buildinll' permits, less federal contracts $ 66,250 -4 + 82Bank deblta (thousands) ... . .. . .... .. S S,127 -31 -28 Bank debits (thousands) ............ .S 11.547 -24 8 End-of-month deposits (thousandsJi . . S 10.086 -4 End-of-month deposits (thouaandali . S 4,236 -4 -9 

Annual rate of depo1lt turnover. . . . . . 8.7 -27 -20 Annual rate of deposit turnover.. ... . 18.5 -22 4 Nonfarm placements . ...... . . . 96 + 82 + a
SCHERTZ: see SAN ANTONIO SMSA TAYLOR (pop. 9,434) Retail salesSEAGOVILLE: see DALLAS SMSA 
Automotive stores ........ . ... . . .. . + Ut -22 + 44 Postal receipts• . . . . . . . . . . . ......S 8,784 -10 + 18

SEGUIN: see SAN ANTONIO SMSA 
Duildinll' permits, leas federal contracts S 8,200 -85 -70 Bank debits (thousands) . . . . . S 7,738 -21SHERMAN (pop. 30,660r) End-of-month deposits (thousands>: . S 15,411 -4 Retail lalea ...... ............... . -2t -10 -1 Annual rate of deposit turnover..... . 5.9 -18 -8
+ ' 

Apparel ltorea ................ . .. . -19t -40 -16 Nonfarm placements ....... . .. . 20 + 18 + 88 Automotive 1torea .. ... . .... .. ... . . + 14t + 4 + 8 
TEMPLE (pop. 34,730r)
Furniture and hoaaehold 
Retail sales ........ ....... .. . -2t -8 -8

appliance ltorea . ...... . .... ... . -7t -20 + 16 Apparel stores ..... . ... ... . -19t -18 -12 

POltal receipts• .... . ................S 86,527 -12 •• 

Automotive stores . . . ... . ... .. . . + 14t + 4 + 7 

Balldlns permlta, leu federal contracta S 176,987 -49 -68 
Eating and drinking places. 6t -24 -26 
Bank debits (thoU1ands) .............S 81,285 -17 + 5 

Food stores .. .................... . 7t 6 End-of-month depo1lts (thouaandaH . . S 21,682 
-2 + 9 Furniture and household 
Annual rate of depoalt turnover..... . 
17.1 -18 -8 applinnce stores . . . . ...... .... . . 7t + 4 a Nonfarm placements .... .... ..... . 188 -8 + 11 
General merchandise stores. -18t -10 7 Postal receipts• . . . . . . . . . . . . . .. S 46.823 + 8 + a 

SILSBEE (pop. 6,277) Building permits, leas federal contracts S 565,725 +264 + 41 POltal recelpta• ....... . ... ..... .....S 9,830 -4 + 21 Bank debits (thousands) . . S 31.869 -22 7 Bulldlns permits, leu federal contracts S 4.286 +167 -86 Nonfarm placements 220 + + 7 Bank deb I ta (thousands) ........ .... . S 6,230 + 8 + 9 TERRELL (pop. 13,803) End-of-month deposits (thousands>:.. S 6,680 •• + 8 Postal receipts• . . . S 8.840 + 6 + a 
Annual rate of deposit turnover. 11.0 + 7 Buildinll' permits, less federal contracts S 62,867 -85 -88
+ ' 
Bank debits (thousands) . . .. S 9,530 -7 
+ ' 

SINTON (pop. 6,008) End-of-month deposits (thousandali. S 8,626 -10 + 1 
POltal recelpta• ..................... s 8,984 -17 + 81 Annual rate of deposit turnover .... 12.6 -1 
Balldlns permits, leu federal contracta S 22,100 +698 -80 

TEXARKANA

Bank deblta (tholl.lands) .. . ........ .. S 4,082 -14 4 

Standard Metropolitan Statistical Area 

End-of-month deposits (thouaands>i . . S 4,729 -8 + 8 
Annual rate of deposit turnover.. ... . 10.1 -14 4 (pop. 64,6141 ; Bowie, excluding Miller, Ark.2 ) 
Buildinll' permits, less federal contracts S 508,720 -23 +151 
Bank debits (thousands) . . ...S 979.500 + 8 4

SLATON: see LUBBOCK SMSA 
Nonfarm employment (area) ..... . .. . 32,250 •• + 2 Manufacturing employment (area) . 6.580 + 7 + Z SMITHVILLE (pop. 2,933) Percent unemployed (area) . 6.8 8 8 
Poatal receipt.• .....................s 1,965 -20 -23 

TEXARKANA (pop. 50,006r) 

Balldlns permits, lea federal contract& S 450 -84 -98 Retail sales .......... . ..... . -2t 7 
Bank deblta (thousands) . .... ........S 1,221 -14 2 Apparel stores -19t -87 9 
End-of-month deposits (thouaandsH.. S 2,898 -4 4 Automotive stores + ut •• -10 
Annual rate of deposit turnover. 6.0 -13 + 2 Furniture and household 

appliance stores -7t -9 •• SNYDER (pop. 13,850) Postal receipts• .. . S 61,325 -22 -1 POltal receipts . . ... .. ... . .... .. . . ...S 14.432 + 19 + 24 Buildinll' permits, less federal contracts S 487.720 -25 +185 Balldlns permlta, lea federal contract& s 54,150 +142 + 62 Bank debits (thousands) . . . . .. .. S 60,097 -18 8 Bank deblta (thouaands) .... ... ......s 12.276 -31 -19 End-of-month deposits (thousands) ti.S 20,058 -5 + 2 End-of-month deposits (thouaands>i. . S 19,018 -4 + 8 Annual rate of deposit turnover. 18.1 -6 -1 Aanaal rate of deposit turnover. . ... . 7.6 -81 -20 
TEXAS CITY: see GALVESTON-TEXAS CITY SMSA 

SOUTH HOUSTON: see HOUSTON SMSA TOMBALL: see HOUSTON SMSA 
Percent change Percent change
Local Business Conditions Local Business Conditions 
Feb 1965 Feb 1965 Feb 1966 Feb 1966 Feb from from Feb from from City and item 1965 Jan 1965 Feb 1964 City and item 1966 Jan 1965 Feb 1964 
TYLER 

WAXAHACHIE: see DALLAS SMSA Standard Metropolitan Statistical Area (pop. 93,2591; Smith2) 
WEATHERFORD (pop. 9,759) 
Building permits. less federal contracts $ 848,890 -22 -45 Bank debits (thousands) . $ 1.521.168 + 8 + 14 Postal receipts• . $ 10,229 -82 Nonfarm employment (area) . 32,500 •• + 8 Building permits, less federal contracts $ 40,900 -77 --84 9 
Manufacturing employment (area) . 8,250 8 + 7 End-of-month deposits (thousands) t ..$ 14,228 -1 + 1 Percent unemployed (area) . 4.4 -14 
TYLER (pop. 51,230) WESLACO (pop. 15,649) 
Retail sales -2t -2 Apparel stores -19t 18 -19 Postal receipts• ... . ... . ........ .$ 11,292 -8 -9 
Automotive at.ores + l4t 8 •• Building permits, less federal contracts $ 67,345 + 62 + 47 
Florists + 7 -1 Ilank debits (thousands) . . S 8,946 8 a 
Postal receipts ... $ 98,814 6 •• En1l-of-month deposits (thousands) i .. $ 7,717 4 1 

Building permits, less federal contracts $ 784,890 -24 -48 Annual rate of deposit turnover . 13.6 6 6 
Bank debits (thousands) . .$ 111,794 -10 + 18 
End-of-month deposits (thousands) t. $ 72,425 -5 + 7 
Annual rate of deposit turnover . 18.0 -7 + 4 WHITE SETTLEMENT: see FORT WORTH SMSA 

Nonfnrm placements 598 + 17 + 2 
UVALDE (pop. 10,293) WICHITA FALLS 
Retail salea 
Standard Metropolitan Statistical Area

Automotive atorea . . ........ . .... . . + 14t + 28 + 21 
Lumber. building material, (pop. 134,0401; Archer and Wichita2) 

and hardware stores . + 19t -8 -10 Building permits, less federal contracts $ 686,841 -68 -&8 Postal receipts• $ 9,868 -8 -27 Bank debits (thousands) . . ... ....$ 1,960,116 + 12 + 8 Building permits, less federal contracts $ 79,586 -89 + 82 Nonfarm employment (area) . . . . . 46,050 •• + 2 
Bank debits (thousands) . .$ 8,834 -28 -18 Manufacturing employment (area) . 4,170 •• + a End-of-month deposits (thousands) t. $ 8,755 -4 -2 Percent unemployed (area) . 4.6 + 8 Annual rate of deposit turnover . 11.9 -28 -16 
IOWA PARK (pop. 5,152r) VERNON (pop. 12,141) 

Building permits, less federal contracts $ 26,650 + 14 + 80

Retail sales 
Bank debits (thousands) ... .. . $ 3,809 -15 -18

Automotive atorea + 14t -21 -8 Postal recei pta• .$ 9,816 -82 -16 End-of-month deposits (thousands) i . .$ 4,377 •• + 12 
Annual rate of deposit turnover . 9.1 -14 -26

Building permits. less federal contracts $ 54,839 -1 -60 
Bank debits (thousaads) .... .$ 14,146 -27 •• 
End-of-month deposits (thousands) t. $ 20,002 -4 + 2 

WICHITA FALLS (pop. 101,724) 

Annual rate of deposit turnover . 8.8 -26 8 
Nonfarm place?menta 75 + 28 + 1 Retail sales -2t + 
Automotive stores + 14t +

VICTORIA (pop. 33,047) 
Furniture and household

Retail sales appliance stores -7t +Food stores -7t -10 + 7 General merchandise stores . -1st -12Postal receipts• .. .$ 42.681 -10 + 4 Postal receipts• ......$ 130,394 + 4 +Building permits, less federal contracts $ 746.880 -12 +198 Building permits, less federal contracts $ 537,441 -68 -64Bank debits (thousands) $ 66,311 -15 + 1 
Bank debits (thousands) . . ........$ 132,875 -11 + 9

End-of-month deposits (thousands) t $ 88,875 + 8 + 2 End-cf-month deposits (thousands) t .. $ 96,046 6 -4Anr.ual rate of Lleposit turnover . 9.1 -18 -1 
Annual rate of deposit turnover . 16.1 -6 + 12Nonfarm placements 469 -10 + 18 

WACO Standard Metropolitan Statistical Area LOWER RIO GRANDE VALLEY (pop. 154,0791; McLennan2) (pop. 359,8361; Cameron, Willacy, and Hidalgo2) 
Building permits, less federal contracts $ 2,065,730 -17 8 Bank debits (thousands) .........$ 1,876,584 + 5 + + 14 Retail sales -2t -6 + Nonfarm employment (area) . 52,500 •• + 2 Apparel stores -19t -21 •• 
Manufacturing employment (area) . 10,910 Automotive stores + 14t •• + 6
+ + 4 

Percent unemployed (area) . 5.0 4 14 Drugstores st 8 + 7
+ ­
Eating and drinking places . ......• st -7 8
McGREGOR (pop. 4,642) 
Florists + 1 + 6
Building permits, Iese federal contracts $ 3.500 -88 -84 
Food storea 7t -10 + 2
Bnnk debit• (thousands) . $ 4,924 + 11 + 25 Furniture and householdEnd-of-month deposits (thousands) t. $ 6,800 1
+ + 18 
appliance stores . ... ... . ...... . . 7t -18 + 8An nun.I rate of deposit turnover . 8.7 + 10 7
+ 
Gasoline and service station• . 4 + 8 

WACO (pop. 103,462) 2t -+ 8
General merchandise stores. -1st -16 
Retail sales 2t -14 -8 Jewelry stores + 8 + 27 Apparel stores 

19t -11 + 16 Lumber, building material,
Automotive stores 

+ 14t -16 -6 and hardware stores + 19t 9 + 1' Florists 
+ 16 + 10 Office, store, and school 
General merchandise stores -13t -21 ••
7 supply dealero ... . .. . . ... . .. ... . 8 Postal receipts• 
192,693 6 2 Postal receipts• 6 + a Building permits, less federal contracts $ 2,018,330 
+ 7 + 13 Building permits, less federal contracts -82 -46 Bank debits (thousands) 
$ 131.645 -11 + 7 Bank debits (thousands) -11 + 4 
End-of-month deposits (thousands) t $ 91,011 2 1 + 1
+ + 14 End-of-month deposits (thousands) . 
Annual rate ot deposit turnover. 17.5 

-14 -6 Annual rate of deposit turnover. 16.7 -9 
+ ' 






BAROMETERS OF TEXAS BUSINESS 

All figures are for Texas unless otherwise indicated. All indexes are based on the a\'erage months for 1957·59, except where indi­cated;. all are adjusted. for seasonal variation, excep~ a.nnual indexes. Employment estimates are Texas Employment Commission data m cooperation with the Bureau of Labor Statistics of the U. S. Department of Labor. The index of Texas business acti,·itv is based on bank debits in 20 cities, adjusted for price level. An asterisk (0 ) indicates preliminary data subject to rc\'ision . Re\'iseil data are marked (r). Data marked (§) are dollar totals for the fiscal years to date. 
Feb JRn Feb 1965 1965 1964 1965 1964 


GENERAL BUSINESS ACTIVITY  
Texas business activity, index . Miscellaneous freight carloadings in SW District, index Wholesale prices in U. S., unadjusted index Consumers' prices in Houston, unadjusted index . ...... .... ... . . .  161 .9 74.3 101.2 107.4  lr.4.5r 77.4 101.0  146.6 78.2 100.5 107.2  158.2 75 .9 101.1 107.4  144.8 77.9 100.8 107.2  
Consumers' prices in U. S., unadjusted index .  108.9  !08.9  107.6  108.9  107.7  
Income payments to individuals in U. S. justed annual rate) .. Business failures (number) . Business failures (liabilities, thousands) .  (billions,  at  seasonally  ad­ s ~  510.7° 55 3,024  S 510.2r 70 s 7,944  S s  480.!Jr 72 5.514  <; s  510.5 63 5,484  $ 479.7 63 s 6.151  
Newspaper linage, · index . Ordinary life insurance sales,  index .  111.5 163.6  114.4 142.9  106.8 156.5  113.0 153.3  107.7 149.0  
TRADE  
Total retail sales, index . Durable-goods sales, index .  127.3° 134.3°  133.0° 150.0°  126.6r 127.4r  
Nondurable-goods sales, index . Ratio of credit sales to net sales in department and apparel stores Ratio of collections to outstandings in department and apparel stores  123.6° 64.2° 26.4°  124.2° 65.9° 32.8°  126.2r 62.5r 27.0r  65.1 29.6  64.0 30.4  
PRODUCTION  
Total electric power use, index . Industrial electric power use, index . Crude oil production, index .. Average daily production per oil well Crude oil runs to stills, index .  (bbl.) .  . . ..... . .. . ... . . .. .  165.5° 158.8° 94.o• 13.4 112.2  161.7° 151.0° 95.7• 13.3 112.1  152.6r 145.5r 96.0r 13.1 116.8  163.6 154.9 94.9 13.4 112.2  152.3 143.1 95.1 13.1 114.6  
Industrial production in U. S., index . . ............... . . . Texas industrial production-total, index . Texas industrial production-manufactures, index . Texas industrial production-durable manufactures, index .. Texas industrial production-nondurable manufactures, index . Texas industrial production-mining, index .. Building construction authorized, index . . .. New residential building authorized, index . .. . New nonresidential building authorized, index .............. .  138.8° 130.7° 152.8° 151 .3° 153.9° 101.7° 118.5 90.0 151.5  138.1 r 129.9° 150.7° 149.2° 151.8° 102.7° 113.0 106.2 113.3  128.2r 125.8r 143.6r 136.7r 148.6r 102.5r 129.0 115.6 152.8  138.5 130.3 151.8 150.3 152.9 102.2 115.8 98.1 132.4  128.0 124.2 141.9 134.6 147.2 IOI.I 129.7 119.1 151.5  
AGRICULTURE  
!'rices received by farmers, unadjusted index, 1910-14=100 ... Prices paid by farmers in U.S., unadjusted index, 1910-14=100 . Ratio of Texas farm prices received to U. S. prices paid by farmers .  238 318 75  238 317 75  253 313 81  238 318 75  255 313 82  
FINANCE  
Bank debits, Bank debits,  index .. . ... .. . . .. . . U. S., index .  163.8 168.5  156.0 169.5  147.3 152.2  159.9 169.0  145.8 158.0  
Reporting member banks, Dallas Federal Reserve District: Loans (millions) Loans and investments (millions) Adjusted demand deposits (millions) .. Revenue receipts of the State Comptroller (thousands) ..  s 4,409 s 6,482 s 2,818 $198,722  s 4.353 s 6,457 s 2,797 $122,030  s 4,042 s 6,122 s 2,865 $146,837  s 4,381 s 6,470 s 2,808 $160,376  s 4.014 s 6,093 s 2,886 $134,729  
Securities registrations: Original applications: Mutual investment companies (thousands)  .  $ 28,!04  s 8,816  s  8,950  s 64,688§  s 32,370§  
All other corporate securities: Texas companies (thousands) . Other companies (thousands) .  s 7,944 s 3,040  $ 137 s 2.729  s 875 s 2,502  $ 45,869§ $ 24,919§  s 17.464§ s 21.226§  
Securities registrations: Renewals: Mutual investment companies (thousands) Other corporate securities (thousands) .  . . .. . . . . . .  $ s  3',245 494  s s  9,092 196  s 7,140 s 1.356  s 50,308§ $ 3,919§  s 53.003§ s 4.257§  
LABOR Manufacturing employment in Texas, index Total nonagricultural employment in Texas, index .. Average weekly hours-manufacturing, index Average weekly earnings-manufacturing, index .. . . Total nonagricultural employment (thousands) .. . Total manufacturing employment (thousands) .. . Durable-goods employment (thousands) ... . Nondurable-goods employment (thousands) . . . . . .. ..  113.2° 115.4° 102.2• 119.1° 2,815.8° 544.6° 273.3° 2i1.3°  112.6r 115.0° 101.4r 119.lr 2,814.6r 542.3r 270.8r 271.5r  109.9r 1l1.8r 101.8 115.1 2.728.3r 528.7r 260.0r 268.7r  112.9 115.2 101.8 119.l 2,815.2 543.5 272.1 271.4  109.4 111.5 100.8 114.9 2,723.6 526.7 258.3 268.4  
Total nonagricultural labor force in selected labor market areas (thousands) ... Employment in selected labor market areas (thousands) . .  2.iOl.9 2,502.0  2,702.0 2,504 .0  2,638.8 2,433.4  2,702.0 2,503.0  2,633.3 2,429.5  
Manufacturing employment in selected labor market areas (thousands) . . . . . . . . . . . . . . ........... . Total unemployment in selected labor market areas (thousands)  4:i8.5 120.:;  456.9 118.9  436.5 131.9  457.7 119.7  436.0 132.6  
Percent of labor force unemployed in selected areas ............. .. ... . .  labor market  Li  4.4  5.0  4.5  5.1  

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NEW PUBLICATION 
Notes on 
THE INDUSTRIALIZATION OF TEXAS 

Series 11 

Reprints, bound together, of articles appearing m the Texa,s Business Review over the past year bearing on the industrialization of Texas. . .... 50¢ 
orcler your copies from 
BUREAU OF BUSINESS RESEARCH (Texas residents add 2% sales tax.)