B L--­MAY 1965 u TEXA S ~lb ni1: I ~I N OCT 1365 THE LIB ARY RE VIE s s I I A Monthly SU?nrnary of Btisiness and Economic Conditions in T exas BUREAU OF BUSINESS RESEARCH: THE UN IVER S ITY OF TEXA S TEXAS BUSINESS REVIEW VOL. XXXIX, NO. 5' MAY 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 121: THE BUSINESS SITUATION JN TEXAS by Francis B. May 126: MINERAL RESOURCES AND MINERAL INDUSTRIES OF EAST TEXAS by w. L. Fisher 131 : SECURITIES REGISTRATIONS AND SECURITIES REGULA­TION IN TEXAS by Ernest w. Walker 132: TEXAS RETAIL SALES IN MARCH by Robert H. Drenner 134: TEXAS BUILDING CONSTRUCTION AUTHORIZED IN MARCH by John R. Stockton CHARTS, MAPS, AND TABLES 121 : TEXAS BUSINESS ACTIVITY 122 : SELECTED BAROMETERS OF TEXAS BUSINESS ACTIVITY 122: TEXAS INDUSTRIAL PRODUCTION 123: TEXAS INDUSTRIAL PRODUCTION, TOTAL MANUFACTURES 123: TEXAS INDUSTRIAL PRODUCTION, MINING 123: BUSINESS ACTIVITY INDEXES FOR 20 TEXAS CITIES 124: ABILENE BUSINESS ACTIVITY 124: AMARILLO BUSINESS ACTIVITY 124: AUSTIN BUSINESS ACTIVITY 124: BEAUMONT BUSINESS ACTIVITY 124: CORPUS CHRISTI BUSINESS ACTIVITY 124: CORSICANA BUSINESS ACTIVITY 124: DALLAS BUSINESS ACTIVITY 124 : EL PASO BUSINESS ACTIVITY 124 : FORT WORTH BUSINESS ACTIVITY 124: GALVESTON BUSINESS ACTIVITY 125 : HOUSTON BUSINESS ACTIVITY 125 : LAREDO BUSINESS ACTIVITY 125 : LUBBOCK BUSINESS ACTIVITY 125: PORT ARTHUR BUSINESS ACTIVITY 125: SAN ANGELO BUSINESS ACTIVITY 125: SAN ANTONIO BUSINESS ACTIVITY 125: TEXARKANA BUSINESS ACTIVITY 125 : TYLER BUSINESS ACTIVITY 125 : WACO BUSINESS ACTIVITY 125: WIClllTA FALLS BUSINESS ACTIVITY 129: MINF.RAL PRODUCERS AND MINERAL RAW MATERIALS IN EAST TEXAS 130: TEXAS INDUSTRIAL PRODUCTION, DURABLE MAN UFACTURES 130: TEXAS INDUSTRIAL PRODUCTION, NONDURABLE MANt:FACTURES 131: SECURITIES REGISTRATIONS IN TEXAS, 1960-1964 132 : Llet;NSES ISSUED BY THE TEXAS SECURITIES BOARD, 1960-1964 132: ENFORCEMENT ACTIVITIES OF THE TEXAS SECURITIES BOARD, 1960-1964 132: ESTIMATES OF TOTAL RETAIL SALES IN TEXAS 133: RETAIL SALES TRENDS BY KINDS OF BUSINESS 133 : NUMBER OF RETAIL ESTABLISHMENTS AND SALES, PERCENTAGE CHANGES IN SELECTED CATEGORIES, TEXAS, 1958-1963 134: ESTIMATED VALUES OF BUILDING AUTHORIZED IN TEXAS 135: BUILDING AUTHORIZED IN SELECTED TEXAS CITIES 136: 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 0. Bettinger, Robert H. Drenner, 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, Samir Fahmy, Jackson Gilmore, Dennis Hiser, Donald E. Kirsopp, Har­old L. Sides, John Specht, Jr., William W. White, Robert Wood Administrative Secretary: Margaret F. Smith S enior 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 Cooledge Statistical Technician: Mary Gorham Clerical Assistant: Pamela Binkley, Ross Kammlah Off set Press 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 B s R h C II 2 Seeond-class postage paid at Austin T ~ 'cess ese~rc h' o eg~ of Business Administration, The University of Texas, Austin, Texas, 7871 f. source will be appre<:iated. Subscriptio e:a.s· ontent. 0 . dt' is pubhca~1on :s not copyrighted and may be reproduced freely. Acknowledgment o 3 0 0 n. • . a year, in 1v1dual cop1e 3i. 2<> cent.a. THE BUSINESS SITUATION IN TEXAS TEXAS BUSINESS ACTIVITY 1954 '55 '56 '57 '58 '59 '60 '62 '63 '64 '65 NOTE: Shaded areas indicate pe riods of decline of total business activity in the United States. KAY 1965 A strong surge upward in March carried the seasonally adjusted index of Texas business activity to a new high of 171.0% of its 1957-59 base value. The new high was 5.6% above the February value of the index and 19.2% above March 1964. This was the third consecutive peak for the index during the first quarter. It was ample evi­dence of the continued strength of the current business upswing. During the first quarter the ind"ex of Texas business activity averaged 162.5% of its 1957-59 average monthly value. This was a 13.0% increase over the first quarter of 1964. March crude oil production declined 1 % after allowance for seasonal factors. At 93.2% of average monthly pro­duction during the 1957-59 base period the index was a fraction of a percentage point below March 1964. Crude­oil production during the first quarter averaged 94.2% of 1957-59, virtually unchanged from the comparable 1964 period. January prod'uction of 95.7% of the base value was the highest for the quarter. Each successive month since January has seen a decline in the index: 2% in February and 1% in March. Total crude oil production in the state for the first two months of the year, as shown in the April issue of World Oil, amounted to 164.9 million barrels, up 1.1% from 1964. Total production for the United States for the first two months amounted to 463.6 million barrels, up 0.2% from the comparable 1964 period. Louisiana produc­tion for the period was 95.5 million barrels, up 3.4% from 1964. The increase in Louisiana production of 3.1 million barrels exceeded the increase of 1.0 million barrels for the entire United States. Declines in production in other oil-producing states reduced the national total for Janu­ary and February. Of the total Louisiana increase 1.6 million barrels, or 51.8%, was produced by wells in the North Louisiana district. The remaining 1.5 million bar­rels, or 48.2%, was produced by the South Louisiana dis­trict, which includes the vast offshore producing areas. When it is considered that 84.3 million barrels of the 95.5 million produced in Louisiana was produced in tht: o South Louisiana district, it seems unusual that more than half of the increase in allowable production was given to Nor.th Louisiana producers. The area which produced 11.7% of the Louisiana total received more than fifty percent of the increase in allowable production during January and February. Prospects for offshore activity in Texas were enhanced in the first quarter by a sale of leases which brought a record' $39 million. This was encouraging evidence that both major oil producers and independents regard .the prospects for offshore production in Texas favorably. Seasonally adjusted crude-oil runs to stills were 112.5% of their 1957-59 monthly average in March. This was a fraction of a percentage point above February and vir­tually unchanged from last year. Crude runs during the first quarter were 1 % below the first quarter of 1964. Demand for gasoline during January and' February was 0.6% below demand during the like 1964 period. Gasoline stocks at the end of February were 5.6% above February 1964. High inventories have resulted in crude runs to stills being held at a steady level. Seasonally adjusted total consumption of electric power in Texas declined 1 % in March as a result of a 4% de­cline in industrial power consumption. March total power use was 8.3% above March 1964. First-quarter total power consumption was 8% above the like 1964 period. This index has shown a strong growth trend for the en­tire post-World War II period. March consumption of electric power by industry was 7.3% above March 1964. First-quarter industrial power use was 8% above the comparable 1964 period. For the four full years of the 1961-64 cyclical upswing the indus- BELECTED BAROMETERS OF TEXAS BUSINESS Indexes-Adjusted for seaeonal varlation-1967-69=100) Percent change Year-to­ date Year-to­ average date Mar 1966 1966 Mar Feb average from from Index 1966 1966 1966 Feb 1966 1964 Texas business activity. . . . . . . . . . . 171.0 161.9 162.6 Crude petroleum production 98.2• 98.7• 94.2 Crude oil runs to stills .. . . .112.6 112.2 112.8 + 6 -1 •• + 18 •• 1 Total electric power use .........163.7• 166.6• 168.6 + 8 Industrial electric power use .. ..162.8* 168.8• 154.0 4 + 8 Bank debits ...178.2 163.8 164.8 + 6 + 13 Miscellaneous freight carloadings In S.W. district ........... 77.1 74.8 76.3 + 4 Ordinary life insurance sales.. .169.4 168.6 166.8 3 · + 6 Total retail sales ..182.1• 128.1* Durable-iroods sales . . .165.4• 129.1 • + 8 + 20 + 6 + 9 Nondurable-aoods sales 120.0• 127.6• -6 + 3 Bulldinir construction authorized ..118.6 118.6 116. 7 •• 9 New residential .............. . 104.5 90.0 100.2 + 16 -18 New nonresidential . . . . ... 121.8 151.6 128.7 -20 -10 Total Industrial production . . . ... 180.4* 181.0• 130.8 •• + 5 Total nonfarm employment .... . . 115.8• 115.4r 115.4 •• + 3 Manufacturing employment .. . .. 118.8* 118.3r 118.1 •• + 3 Total unemployment 89.5 99.7 95.5 -10 -11 Insured unemployment 84.6 88.1 87.8 -4 -15 Average weekly earnings-­ manufacturing .. . ....... ......118.6• 118.Sr 118. 7 Averas;e weekly hours­ •• + 8 manufacturina­.. 102.2• 102.0r 101.9 •• + •Preliminary. rRevised. ..Chans;e is lesa than one-half of 1%. 122 TEXAS INDUSTRIAL PRODUCTIO • ~21r--ir'N~D~-­ fX~~·~oJ~US~Tf~D~f~O·~S~f~·s~O~NA~l~Vi•'~"~n~oN~~,9~5~7·~19~59~·~10~0r-~~ 200t~ R i 200 o~~~~;-1---;;;;:!-~:-;;--L-;--;-;;...J..,,~~,..L~~_L_J~ 1954 '55 '56 '57 '58 '59 '60 '61 '62 '63 '64 '65 • Manufacturing and mining (including crude-oil and natural-gat production). NOTE: Shaded areas indicate period• of decline o( Iota! busineu ac1iv1ty in the United Sta.tu. trial power index has risen 37.8%. Since industrial power consumption is highly correlated with ind'ustrial produc­tion, the rise in this index attests to a strong increase in industrial production in the state. This fact is corrobo­rated by the 25.7% rise in the index of industrial pro­duction of the Dallas Federal Reserve Bank between Feb­ruary 1961 and February 1964. The larger rise in power consumption is due to the fact that industry relies in­creasingly on electrically powered tools and controls to increase .the productivity of its processes. Ordinary life insurance sales in March declined 3% after allowance was made for seasonal factors. At 159.4% of average monthly sales during the 1957-59 base period the index was 8.7% above March 1964. First-quarter sales were 6% above the comparable 1964 period. The steady rise shown by this index is a reflection of increased population and increased income. On July 1, 1964, the latest date for which Census Bureau estimates are avail­able, Texas had an estimated resident population of 10,­397,000. Using this figure and' the 1964 Department of Commerce personal income estimates yields an estimated per capita income of $2,175 for Texans, up 4.2% from 1963. A growing population and rising incomes make for a high volume of retail sales. Seasonally adjusted retail sales in Texas rose 3% in March due to a strong increase in sales of durable goods. Sales of nondurables declined. First-quarter retal}. sales were substantially above the first quarter of last year. Total sales were up 6%. Total retail sales in the United States declined to $23.2 billion in March after reaching a record $23.4 billion in February. The data are seasonally adjusted. The 0.8% decline was due to a slight drop in automobile sales from a record in February. The drop was in seasonally ad­justed sales, which are computed by dividing actual sales by a seasonal adjustment factor. What happened in March was that sales of automobiles rose from $4.28 billion in February to $4.99 billion in March, but the increase was less than the usual seasonal rise. Division of sales by the seasonal index number reduced March adjusted sales to a figure slightly below February ad­justed sales. The seasonally adjusted index of urban building per­mits issued in Texas held at the February level in March. In February the index rose 5%. A March rise in resi­dential permits issued was offset by a decline in non­residential permits. First-quarter permits issued were be­low the like 1964 period in all categories. Total urban building permits issued in .the United TEXAS BUSINESS REVIEW TEXAS INDUSTRIAL PROOUCTIO TOTAL MANUFACT RES NOTE; Shaded areu 1ndlu.te period• o! decline of 101&1 butineu activity in the Uni ted St.i.tu. States rose in March to a seasonally adjusted annual rate that was 5% above the February level. It was 5% below March 1964. The largest increase in permits was in the Northeast, followed by the West. Issuance of per­mits declined in the North Central states and in the South. Where increases occurred, permits for the con­struction of larger apartment units housing five or more families accounted for most of the gain. Recent storms and floods will have an adverse effect on April permit issuance. Miscellaneous freight carloadings rose 4% in March. At 77.1o/o of average monthly carloadings during the 1957-59 base period the index was 3.1% above March 1964. First-quarter carloadings were 1 o/o below the com­parable 1964 period and were 1 o/o above the first quarter of 1963. The railroads are spending large sums on mod­emization. These will produce improved operating results in the future. Nonfarm employment in March held at the February level after allowance was made for seasonal factors. At 2,842,900 it was 3.6% above March 1964. Gains in manu­ facturing employment, mining, construction, and' trade contributed to the year-to-year increase. Finance, services, and government also showed March-to-March employment gains. Fint-quarter employment in nonfarm occupations rose 8%. Manufacturing employment increased by the same percentage. This rise was due to increased employment in the manufacture of primary metals, fabricated metal products, electrical and nonelectrical machinery, apparel, and chemicals. An increase in manufacturing employment eauaea increases in service employment, for each worker in buic manufacturing industry supports several service workers. Total unemployment and insured unemployment de­ clined in March. First-quarter averages show decreases from the first quarter of last year in both these cate­ gories. Insured unemployment in mid-March was 2.8% in Texas, compared with 4.lo/o for the nation. A glance at the seasonally adjusted business activity indexes for twenty selected Texas cities shows that four­ teen increased in March. The increases ranged from 13% for Beaumont to 2% for Dallas and Tyler. Fil'lt-quarter results for the twenty cities show that leVeJlteen experienced increases. The 23% gain for Dallas WU largest. Amarillo, Beaumont, Houston, Tyler, and Corsicana had increases of 10% or more. Abilene, Austin, El Paso, Fort Worth, Laredo, San Antonio, Waco, and Wichita Falls had increases of 5-9%. KAY 1965 TEXA I D TRIAL PROD CTIO. r~c· 0 ~ ~;: 0 ) 954-'55 '56 '57 '58 '59 '60 '61 "62 '63 '64-'65 • Include• crude·oil and ~tural·a•• production. NOTE: Shaded areu Indicate period• of decline of totl.l bu.tlneu activity ht. tht: Un.hed Sb.tu. In a recent report the Bureau of the Census estimated that Texas will be the third most populous state in the nation in 1985. Depending upon the assumed rates of births, deaths, and migration, Texas population in 1985 is estimated to range between 13,689,000, and 14,749,000. Texas will exceed the combined populations of all of the eight mountain states. These are: Montana, Idaho, Wyo­ming, Colorado, New Mexico, Arizona, Utah, and Nevada. The per capita income estimate of $2,175 mentioned above would, if applied to this population estimate, yield an estimated total personal income for the state of between $29.8 billion and $32.1 billion. This means that· if there were no further increase in per capita income Texans in 1985 would have purchasing power equivalent to a current sum of between $29.8 billion and $32.1 billion. Increases in per capita income will carry the 1985 total above these figures. Manufacturers who like to locate near large mar­kets should note these projections. Texas will be an enormous market in 1985. It will be growing during the intervening years from its 1964 level of $22.6 billion of personal income. BUSINESS ACTIVITY INDEXES FOR ZO SELECTED TEXAS CITIES (Adjusted for aeasonal variation-1957-59=100) Percent chanire Year-to­ date Year-to­date Mar 1965 average 1965 City Mar 1965 Feb 1965 averaKe 1965 from Feb 1965 from 1964 Abilene .. 138.0 128.2 134.7 + 8 + 6 Amarillo . . 163.2 155.5 160.4 + 5 + 17 Austin Beaumont ... 184.7 .165.1 178.2 146.4 172.8 153.3 + 4 + 13 + 7 + 15 Corpus Christi . 132.7 Corsicana .. 128.1 Dallas .... 198.6 122.9 132.8 193.8 125.3 128.9 185.7 + -+ 8 4 2 + 4 + 10 + 23 El Puo Fort Worth Galveston Houston ... 125.8 .. 133.9 .... 111.9 172.3 125.2 124.2 101.7 165.1 124.0 124.8 106.9 168.2 + 8 + 10 + 4 + 5 + 5.. + 10 Laredo . . 149.6 150.2 151.0 + 9 Lubbock Port Arthur .151.9 ...100.0 142.7 102.5 159.3 102.7 + 6 2 + 3 1 San Angelo San Antonio Texarkana Tyler Waco ... 129.3 .. 153.0 .144.6 . . .. 145.8 .140.8 123.2 146.3 154.4 143.0 142.6 128.0 147.3 154.7 142.2 141.5 + 6 + 5 -6 + 2 1 + 2 + 8 3 + 10 + 8 Wichita Falls . 138.3 134.4 184.2 + 3 + 6 ..Change is less than one-half of 1o/o. CORSICA A BUSI ESS ACTIVITY ~S--1--l---J---Jl 50 .; ~ \· . ~J o~~l__L~_!___i_J~n>:&=-=-1--:-::-::J-,~~ ,~ ~~.. J 95·1 ·55 '56. '57 '58 '59 '60 '61 '62 '63 '64 '65 AMARILLO BUSINE S ACTIVITY DALLAS BUSI ESS ACTIVITY 200 150 I 00 100 · 1954 '55 '56 '57 '58 '59 '60 '61 '62 '63 '64 '65 A STIN BUSINESS ACTIVITY EL PASO BUSINESS ACTIVITY 200 150 100 so . 0 1954 '55 '56 '57 '58 '59 '60 61 '62 63 '64 65 ' ' BEAUMONT BUSI ESS ACTIVITY FORT WORTH BUSINESS ACTIVITY ,,,~--,-~,N~D~EX~-p'9~51~ -~AD~JU~S~TE~D~FO~R~S~E·~s~ONrM~V·~·~"~"0~N~-1~95r9~·1~001-~r---200 INDEX-ADJUSTED FOR SEASON Al VARIATION-1951·1959 ·100 200·rm 200 l§1 l§ 150 150 ~ I 1. AMN'rJV\A v - .A fil, I' 100 ~" . 100 A .. ·v '\,, ,, I ~ 50 50 0 0 '56 '57 '58 '59 '60 '61 '62 63 '64 '65 1954 '55 ' INDEX ADJUSTED FOR SEASONAL VARIATION 1957 1959 100 200 200 I 150 150 ,,..... Jr'-\ JV ~ ,.f" .A I. - 100 100 -v , ./'{"iMJ" 50 50 0 ~: 0 1954 '55 '56 '57 '58 '59 '60 '61 '62 '63 '64 '65 ·1 INDEX-ADJUSTED FOR SEASON Al VARIATION-1957 1959 · JOO 200 2 I 150 150 ' vvr .I'h,.rWvl" 1 . 100 . •v 50 50 ~ 0 .. 0 ' ' CORPUS CHRISTI BUSINESS ACTIVITY GALVESTON B SINESS ACTIVITY 00 100 0~~S~ ~~_J__L_l_.&lii>!_J--=-=-=-..L...,~•~.,::-;-~:-1-;-;~~~o 19H 55 56 '57 '58 '59 '60 '61 '62 '63 '64 '65 l954 '55 '56 '57 '58 '59 '60 '61 '62 '63 '6·1 '65 Source: Based on bank debits reported by the Federal Rei;erve Bank of Dallas and adjusted for seasonal variation and changes in the price level by the Bureau of Business Research. HOUSTON B SINE ACTIVITY INDEX-ADJUSTED FOR SEASONAL VARl ..l.TION-1957-1959 · 100 200"'"'....-~-,'"-=-,"'-'-l>:ri;-~.--.--,,~~~ ~,,---,~-,~.-~.---,200 O~>Ll~--'--,----'-~~j'~'l.,___,_._,.,,..,.--'--c-"~~ ~~J,...,--'--,---'--,--.L_,---'----'O J50 J954 '55 1954 '55 '56 '57 '58 '59 '60 '61 '62 '6:l '64 '65 LAREDO B SI 'ESS ACTIVITY INDEX-ADJUSTED FO R. SEASONAi. VARIATION-1957-1959·100 '56 '57 '58 '59 '60 '61 '62 '63 '64 '65 LUBBOCK BUS INESS ACTIVIT Y INDEX -ADJUSTED FOR. SEASONAL VARIATION -1957 1959 JOO PORT ARTH R BU I ' ESS ACTLV ITY INDEX -ADJUSTED FOR SEASONAL VARIATION-1957 1959 • 100 200"""'i ,,-,.~-,-"-="r'=;r..;;r-::-::.r=-=T-=-7i.m".:::..:.-r.:..::"--'-'r---:..::=.-r--.,.-----i200 ~fl P-''.? o~~-:-:-:=-'-=-=,-'-~""""'---'-~-'--z~·? .~~'----'-~--'-~,-'-~_.___,o 1954 '55 '56 '57 '58 '59 '60 '61 '62 '63 '64 '65 SAN ANGELO B SINE ACTIVITY INDEX-ADJUSTED FOR SEASONAl VARIATION-1957-1959· 100 SA 1 A:\'TO IO B SI;\E ACT! ITY INOEX -ADJUSTfO FOil SEASONAi VAllAT10N -195J'.1 9.S9• JOO 1954 '55 '56 '57 !58 '59 "60 '61 "62 '63 '6-1 '65 TEXARKA AB SINE ACT! ITY 19"4 '55 '56 '57 '58 '59 '60 '61 '62 '63 '64 '65 TYLER B SJ1 E ACTI !TY INOEX-AOJUS1ED FOR SEASONAL VA.lJAJION-1951·1959• 100 -,-~-.~"-,-"'-l""':--'--r-'"~o--'-...,,,,:rx-~r'--"'ir--'""'T~-.~,200 200 50 200'I 150I100 ~ 50 0 1954 " 1954 '56 '57 '58 '59 '60 '6l "62 '63 '64 '65 WACO B SINE ACT! ITY INDEX-AD JUS TED FOR SEASONAi VWATION-1951.J 959· 100 200 , 150 ~"' • YVV IJV'­ A """' .'r-'N 100 v ·­ -v-..... 50 0 '55 '56 '57 '58 '59 '60 '61 '62 '63 '64 '65 WICHITA FALL B . l~E CTI ITY '55 '56 '57 '58 '59 "60 '61 '62 '63 '64 '65 Dallas and adjusted for seasonal variation and changes in the price level Soarce: Buecl on bank debits reported by the Federal Res.erve Bank of Ill' tM Burau of Bwilneu Reiiearcb. MINERAL RESOURCES AND MINERAL INDUSTRIES OF EAST TEXAS W. L. Fisher~ Rock and mineral resources of a 33,000-square-mile area of eastern and northeastern Texas, comprising 42 counties (Fig.l), have been the objects of a recently com­pleted 30-month study conducted by the Bureau of Eco­nomic Geology, The University of Texas, a study sup­ported in part by a $40,000 contract with the Area Re­development Administration, U. S. Department of Com­merce. The Bureau has published results of this study as Report of Investigations No. 54, entitled Rock and Min­eral Resources of East Texas. The report, prepared by W. L. Fisher and others, treats the occurrence, distribu­tion, geology, reserves, quality, production, mining and processing, current and potential utilization, and economic considerations of principal rock and mineral commodi­ties of the area, exclusive of oil, gas, and water. It con­sists of approximately 450 pages, 5 colored plates (1 :500,­000 base maps), 71 figures, and 50 tables. Approximately 2,000 chemical analyses and physical tests of East Texas mineral raw materials are reported. Copies of the report are for sale by the Bureau of Economic Geology, Univer­sity Station, Box X, Austin, Texas. lntroduction.-The eastern and northeastern parts of Texas (area here considered indicated in Fig. 1) are en­dowed with a variety of rock and mineral resources, in­cluding some that currently support extensive industries and others that are undeveloped' or only partly developed. Total value of minerals produced during 1963 in this re­gion of the state, an area comprising approximately 12 percent of the total land area of the state and containing nearly 10 percent of the state's population, amounted to slightly more than $490 million, or about 11 percent of the total state mineral production. Value of minerals produced in the area exceeds value of manufactured prod­ucts, and though the majority of the population is rural, value of mineral products is 2.5 times total ag­ricultural income. As in many other parts of Texas, production of oil and natural gas is the major in­dustry, accounting for slightly more than 97 percent of the total value of mineral products. Oil and nat­ural gas are not only important to East Texas in a direct economic sense but also serve as relatively cheap sources of fuel necessary in the processing of other min­eral raw materials and hence are attractive to the de­velopment of these materials. Lignite was formerly used widely as a mineral fuel in East Texas; it was mined at a number of places and was the principal source of do­mestic and industrial fuel prior to the advent of the nat­ural gas industry in Texas. Deposits of sedimentary iron ore have been mined in East Texas since before the Civil War; currently, these iron ores are the raw materials for steel mills at Daingerfield and Houston. East Texas •Reoearch Scientist, Bureau of Economic Geology. Publication au­thorized by Director, Bureau of Economic Geology, The University of Texas. iron, together with South Texas uranium and magnesium extracted from sea water, comprise the metal-mining in­dustry of Texas. Nonmetallic and nonfuel rocks and min­erals are abundant in both reserves and variety; they support in East Texas several well-developed' industries such as ceramic and nonceramic clay, salt, sand and gravel, crushed stone, and specialty sand. Metallic ores.-Sedimentary iron ore, found chiefly in Anderson, Cass, Cherokee, Marion, Morris, Nacogdoches, Rusk, and Smith counties (Fig. 1, area 4), is the principal metallic ore of East Texas. Reserves of mineable ore are approximately 200 million tons. Iron ore occurs as limon­ite (iron oxide) lenses, disseminated throughout massive glauconite (iron silicate) bed·s, and as relatively per­sistent beds of siderite (iron carbonate). East Texas iron ores are mined in Morris, Cass, Cherokee, and Rusk coun­ties as raw materials for steel making, as mineral fillers and additives, and as portland cement additives. Mined ores vary in composition depending on amount of admixed sand and clay but average about 20 percent iron; bene­ficiation increases content of iron to about 40 to 45 percent. Large-scale production of East Texas iron ores dates only from World War II. Favorable location near oil and gas fields of East and Southeast Texas and the heavy industries along the northwest Gulf Coast chiefly accounts for current utilization. The large market for iron and steel products in Texas assures future interest in East Texas iron ores, though owing to the low grade of these ores and the lack of suitable coking coal in the area, future plants will probably utilize direct reduction meth· ods rather than blast-furnace smelting now employed. High-alumina clays, many containing alumina in excess of 28 percent, are potential sources of metallic aluminum. Such clays are widespread in East Texas (Fig. 1, area 2). Heavy mineral concentrates containing ilmenite and zir­con and occurring as fractions in predominantly quartzose sands are possible sources of titanium and zirconium metals. Certain rare or trace metals (gallium, germani­um, lanthanum, scandium, and yttrium) commonly are concentrated in small amounts in lignites and carbona­ceous rocks of East Texas. Lignite.-Lignite or low-rank coal deposits occur in 80 East Texas counties (Fig. 1, areas 2 and 5) with re· coverable reserves estimated at approximately 8 billion tons. Lignite mined for use as an industrial and domestic fuel supported a widespread mineral industry in East Texas from about 1900 to 1940. In recent years, however, lignite generally has not been competitive with natural gas as a fuel source. An exception is the large-scale util­ization of lignite by Aluminum Company of America at Rockdale, Milam County, as an industrial fuel for power generation. In recent years an electric generating plant in western Henderson County utilized lignite as a fuel, TEXAS BUSINESS REVIEW though that plant now operates on natural gas. In local areas or under special circumstances, lignite can compete with natural gas as a large-volume source of fuel, though its potential as a solid fuel will generally depend on the availability and cost of natural gas. Unfortunately, East Texas lignites cannot be processed economically as coking materials for use in Texas foundries. Lignite is utilized in considerable quantity as a raw material for the manufacture of activated carbon at Marshall in Harrison County. Use as filling and stabiliz­ing agents might be significant, though extent of potential market is not known. Much attention, chiefly by the U. S. Bureau of Mines, is directed to various nonfuel uses of lignite. Development of such uses may improve the market situation of East Texas lignite, but at the present time most nonfuel products obtainable from lignite can be pro­duced more cheaply from other sources. CZa11.-Extensive deposits of clay in East Texas (Fig. 1) support well-developed ceramic and nonceramic clay in­dustries. Approximately one-half of the state's total pro­duction of ceramic clay and about one-quarter of the state's total clay production (including that used in port­land cement) is mined and processed in East Texas and used chiefly in the manufacture of structural clay products. About one-half of the state's production ·of nonceramic clay, used chiefly as drilling muds, oil-decolorizing agents, and mineral fillers, is produced in East Texas. Principal types of clay include light-firing structural clays, ball clays, refractory clays, kaolin, bentonite, fullers earth, and miscellaneous clays. Currently, 19 operations, ranging from small plants to some of the largest plants in the country, utilize East Texas clays. The East Texas clay in­dustry, however, is dominated by a few large producers, and the general trend has been toward expansion of these concerns. In former years most communities in the area supported a local ceramic industry; at present, small local plants must manufacture special products to hold a market or to offset significantly the economic advantage of larger operations. Future development of the East Texas clay industry will be based on expansion of existing plants, on development of new uses of clay materials, and the commercial development, through technology, of spe­cialty clays requiring special processing. An example of the latter is the recently constructed kaolin-processing plant of Magcobar in Limestone County, which is de­signed to separate kaolin from silica sand. The abundance of suitable clay raw materials and a relatively cheap sup­ply of natural gas for fuel coupled with scarcity of nat­ural aggregate materials probably will lead to utilization of East Texas clays as sources of lightweight and stand­ard weight manufactured clay aggregates. Salt.-Salt resources in East Texas, as well as in other parts of the Texas Coastal Plain, are vast. Chief occur­rence is in shallow salt domes (salt within 2,000 feet of the surface) where salt in the form of circular to ellipti­cal plugs has been intruded' into overlying rocks from bedded salt deposits occurring at depths of 9,000 to 15,000 feet (Fig. 1, area 9). Salt occurs in 13 shallow domes in Anderson, Cherokee, Freestone, Leon, Smith, Van Zandt, and Wood counties as well as in deeper domes in other counties and as bedded salt at great depths. Reserves in Eut Texas alone amount to approximately 75 cubic miles (including salt within 2 miles of ground surface). KAY 1965 East Texas salt from surface salines generally asso­cia~d with shallow salt domes was used by early Texas Ind~ans and. ~as used extensively by the Confederacy durmg the C1~l War. Modern underground mining of salt h_as been conducted at Grand Saline (Van Zandt County) smce 1929. Salt was formerly mined at Palestine Dome in Anderson County. No other salt domes in East Texas have been mined. Caprock deposits associated with interior salt domes of East Texas do not contain significant amounts of sulfur or gypsum, unlike many caprock deposits on coastal salt domes. Structures associated with salt domes, especially deep-seated salt structures, however, are prolific oil and gas reservoirs. Mineralization associated with doming commonly causes induration of overlying rocks resulting in deposits of stone suitable for crushing. On certain domes, deposits of economic importance (e.g., limestone, lignite, and clay) crop out at the surface. Salt domes are favorable sites for underground storage of hydrocarbons and other materials ·as well as for disposal of radioactive wastes. Salt production in Texas varies from 4 to 6 million tons per year, representing nearly 20 percent of the total U. S. production. Production in Texas is geared closely to demand by the heavy chemical industry, especially along the Gulf Coast, where more than 90 percent of the salt is produced captively as salt-in-brine. Salt produced in East Texas is marketed mostly as rock salt and evap­orated salt. Interior salt domes are too distant from the coast to compete with coastal domes as sources of salt­in-brine. Industrial and specialty sands.-Deposits of high-silica quartz sands suitable for a variety of industrial and spe­cialty uses are extensive in East Texas (Fig. 1). Cur­rently, about 35,000 tons of specialty sand, valued at about $100,000, are processed and marketed annually in East Texas as blast sand, foundry sand, filter sand, hydraulic-fracturing sand, engine sand, and pulverized sand. In addition, large amounts of industrial sand are produced in East Texas (Hardin and Liberty counties) just south of the area here considered. Iron-oxide con­tent of East Texas sands commonly is greater than 0.04 percent, though many deposits contain iron oxide in amounts less than 0.1 percent. Utilization of these sands in the glass and chemical industries, therefore, requires upgrading or special processing. East Texas sands also commonly contain relatively large amounts of fine-grained particles, though they are generally unconsolidated and easily processed. The sizeable market for low-iron, high­silica sands will in cases justify beneficiation costs, though producers must compete with silica sand's produced in north-central Texas and southern Oklahoma. Annual consumption of industrial sand in Texas is about 700,000 tons, of which approximately 200,000 tons comes from outside the state. Annual consumption of ground silica sand is about 60,000 tons. Main consump­tion, in approximate order of amount, is as follows: glass sand, blast and abrasive sand, hydraulic-fracturing sands, silica flour, foundry and molding sand, engine sand, and miscellaneous sand. Principal markets or points of con­sumption of glass sand, used both in the manufacture of plate and container glass, are located at Corsicana, Hous­ ton, Palestine, and Waco, and in Shreveport, Louisiana. Most are within the market area of East Texas. Silica sand is also used as a ceramic material in the manufac­ture of fiberglass at plants in north-central Texas. Abra­sive and blast sands are marketed throughout the state but chiefly in industrial and metropolitan areas. Silica flour is used in certain chemical industries, such as the manufacture of soluble silicates and as mineral fillers, primarily at Hillsboro (Hill County), Dallas, and Hous­ ton. Hydraulic-fracturing sand and engine sand are mar­keted widely in the state. Consumption of foundry sand is largely in eastern and southeastern Texas foundries. Aggregate and constructional crushed stone.-Deposits of natural materials suitable for use as quality aggregate, base material, fill, and other types of constructional crushed or processed stone are limited and restricted in East Texas. Though produced at several places in the area, production of these materials amounts to less than 5 percent of the state's total and provides less than half the consumption in East Texas. Accordingly, a consider­able tonnage of construction materials must be shipped into the area from other parts of the state. Scarcity of natural materials suitable for crushed stone is due to the generally nonconsolidated character of Gulf Coastal Plain sediments that underlie the area; alluvial deposits high in gravel-size materials are uncommon due to low competence of Coastal Plain streams, distance from source, and nonconsolidated bedrock terrain. Deposits of hard limestone suitable for crushing as ag­gregate are restricted chiefly to Limestone County; rela­tively small tonnages occur above certain salt domes in Anderson, Freestone, and Smith counties (Fig. 1, areas 1 and 9). Extensive deposits of soft limestone and chalk occur in northeastern Texas (Delta, Lamar, and Red River counties); these are suitable for base material but generally too soft for use as aggregate. Constructional sand and gravel deposits are largely restricted to higher terraces along major streams in the area (Red, Trinity, and Brazos rivers) and are mined and processed princi­pally in Bowie, Henderson, Robertson, and San Jacinto counties. Gulfward along major streams, gravel deposits are less common and occur mixed with greater propor­tions of very fine-grained sediments (sand and clay). Deposits of indurated sandstone, formed in association with salt instrusion, occur above certain of the salt domes in East Texas; crushed stone is quarried at Blue Moun­tain (Butler salt dome) in eastern Freest.one County and marketed throughout East Texas. Local deposits of hard quartzitic sandstone occurring in a belt extending through parts of Trinity, Angelina, Polk, Tyler, and Jasper counties are intermittent sources of crushed stone· de­posits commonly are lenticular and discontinuous. Thin, surficial deposits of residual ironstone pebbles, weathered from iron ore and glauconite beds, are widespread in East Texas and have been quarried in small amounts at numerous places for use as base material and low-quality aggregate. Individual deposits generally are small, and the more readily accessible ones are being depleted rapid­ly. Clays that can be processed as lightweight or stand­ard weight aggregates are extensive in East Texas. Manufactured aggregates are not now produced in the area, though the demand for aggregate and the scarcity of natural materials will probably lead to a manufactured aggregate ind'ustry in the near future. Cement materials.-Abundant sources of the principal raw materials needed for the manufacture of portland cement (chalk, limestone, clay) occur in northeastern Texas (Lamar, Delta, and Red River counties) and farther south in Limestone County (Fig. 1, area 1). Min­eral raw materials available are similar to those used extensively by cement plants in the Waco, Dallas, and Fort Worth areas. Lack of a large and populous local market and strong competition from existing cement plants in adjacent areas probably preclude development of a cement industry in East Texas. Cement plants re­quire high capital investments (generally about $8 per annual barrel capacity) and' in most cases must have at least production of one million barrels per year to be economical. Certain of the white kaolin clays of Limestone and Freestone counties are used at Roust.on in the prep­aration of white portland cement. Similar .types of white portland cement could be made using these kaolins and light-colored limestones occurring just west of the kaolin outcrop in Limestone County. Chemical and industrial process stone.-Except for lo­cal and relatively small deposits, limestone and chalk of northeastern and eastern Texas (Fig. 1, area 1) are not sufficiently pure for burning to a high-quality lime, for use as a chemical raw material, or for use as fluxstone. Chalk can be used' as low-grade whiting and putty bases but generally is not competitive with other materials. Both limestone and chalk can be used as agricultural limestone fertilizer and soil conditioner, though the availability of aglime as a low-cost by-product from exist­ing limestone crushing plants would supplant any local advantage of northeastern Texas deposits. Glauconite.-Glauconite or greensand, a complex hy­drous iron silicate that also contains small amounts of potassium and magnesium, occurs throughout wide areas of central East Texas (Fig. 1, area 4). It generally occurs as the unweathered source rock of East Texas iron ores. Utilization of local glauconite as a soil conditioning agent, as a source of potash, and as a water-softening agent is severely limited by low content of potassium and the avail­ability of other more suitable raw materials and manu­factured products for these uses. Glauconite is a possible source of adsorbent or fixing base in aniline colors and as a green pigment, provided it is impregnated with a small amount of malachite green. East Texas glauconitic rocks can be rough cut and shaped easily for use as a fairly durable building stone; a few deposits have been utilized' for this purpose. Perhaps the most significant potential of East Texas glauconite is as a low-grade iron ore. Iron occurs in the glauconite mostly as a hydrous silicate, though commonly a variable amount of iron also occurs as an oxide. Average content of iron (expressed as an oxide) in East Texas glauconite is about 25 percent. Special smelting processes would be necessary to recover the iron from the silicate in which it occurs. Peat.-Deposits of peat or accumulations of partly de­composed and disintegrated vegetal matter occur in bogs and marshes of poorly drained areas of East Texas and other parts of the Texas Coastal Plain. Individual deposits commonly cover about 8 acres, average about ;IO feet in TEXAS BUSINESS REVIEW Fig. J: MINERAL PRODUCERS AND MINERAL RAW MATERIALS IN EAST TEXAS MINERAL PRODUCERS (Districts indicated) 0 Ceramic cl.ay, ball clay, and kaolin 0 Nonceramic clay (bentonite and fullers earth) • Specialty sand ~ lignite + Constructional sand an.d gravel L:::;.. Iron ore and mineral pigments A Salt • Crush11d stone. I I I I I I 2 I I I " ~ ~\ \ ,{ \ "--.., ' SCALE Or-----.---"2;:0=---._~_4 ..:.,0 Miles :::;:: :·:::: E=3 E3 I ... 1. Limeatone, chalk, phosphorite, expandable clay, nonceramic clays (bentonite and fullers earth), low-grade struc­tural days. 2. Structural clays, refractory clays, kaolin, ball clay, expandable clays, specialty sands, lignite. 3. Medium­rrade structural clays, expandable clay, specialty sand. 4. Iron ore (iron oxide and iron carbonate), mineral fillers and pirmenta, glauconite. 5 Nonceramic clays, medium-grade structural clays, expandable clays, specialty sands, Jignit~. I. Nonceramie clays (bentonite and fullers earth), pumici te, pozzolanic materials, specialty sands. 7. Nonceram1c days (bentonite and fullers earth), expandable clays, specialty sands. 8. Low-grade structural clays, expandable days, 1urfleial gravel& 9. Domal aalt at shallow depths. thickness, and consist of fibrous peat, finely divided peat humus, and impure clayey peat. Generally only the fibrous peat is of commercial significance. Peat has been produced in the Texas Coastal Plain in recent years but is not produced at the present time. Annual consumption of peat in Texas is approximately 10,000 tons, sufficiently large to support a local industry provided a uniform and acceptable product is processed. Heavy minerals.-Heavy minerals (specific gravity greater than 2.85), comprising a fraction of East Texas sand deposits, are potential sources of titanium and zircon minerals. Concentrations in East Texas sand are low (generally less than 1 percent) and not sufficiently great to warrant commercial extraction; currently processed beach and coastal sands of Florida contain approximately 2 to 4 percent heavy minerals. The only probable com­mercial recovery of East Texas heavy minerals would be as by-products in the processing or beneficiation of other rock materials, such as silica sand. Phosphorite.-Phosphorite or sedimentary rock phos­phate occurs as thin conglomeratic lenses in chalk and clay deposits of northeastern Texas. Phosphorite nodules or particles comprise about 10 to 20 percent of individual deposits which average about 1 foot in thickness. Content of phosphorous oxide generally ranges from 20 to 25 percent, or a bone phosphate of lime (B. P. L.) equivalent of 45 to 55 percent. Local phosphorites generally are suitable for direct soil application, a few meet specifica­tions for furnace-grade rock, but none tested is of acid grade. Local deposits have not been exploited; they could possibly be extracted and processed on a small scale for local consumption. Significant development of these de­posits would be limited by their low grade and occurrence in a matrix of relatively hard rock but chiefly by the availability of rock phosphate from extensive deposits worked in Florida and Tennessee. Volcanic ash.-Volcanic ash or pumicite occurs in a series of deposits forming a belt chiefly through parts of Angelina, Jasper, Polk, San Jacinto, Trinity, Tyler, and Walker counties. Thickness of individual deposits ranges from a few inches to 20 feet, averaging about 8 feet· purity varies from deposits consisting largely of fine~ grained, unaltered glass particles to deposits in which the original glass is mostly devitrified or mixed with im­ purities. Physical properties and chemical composition of East Texas volcanic ash are similar to those of several commercial ash deposits in other parts of the country. Greatest potential for development of East Texas volcanic ash deposits is as large-volume, low-cost construction ma­ terials, including use as a cement additive or pozzolan as a partial substitute for portland cement, and as an addi­ tive or partial substitute for lime used in soil and base stabilization. Processing of volcanic ash for such specialty u~es as abrasives, ceramic glazes, and mineral fillers pos­ sibly c~uld be economical as an adjunct to large-volume production as construction materials. Natural a.spha.lt.-Natural asphalt and related bitumi­ nous materials are found locally as surface and near-sur­ face d.eposits in East Texas, mostly as impregnated sands and silty clays and as residual. deposits around oil seeps a~d ~ug wells. Principal deposits occur in the Jarvis D1stnct east of Palestine in Anderson County. Areal ex­ tent of these deposits is about 300 acres with reserves of asphaltic sand of about 3.7 million cubic yards. These deposits were the source of a small amount of paving material many years ago; however, the small size and rounded shape of the sand grains generally preclude large-scale use of these asphaltic sands as a natural paving material. Potential use is further limited by gen­eral availability of manufactured asphalts from petroleum. East Texas asphaltic sands are currently a source of crude petroleum. Conclusion.-Mineral industries contribute significantly to .the economy of East Texas. Oil and gas are the chief mineral industries, though industries based on processing such materials as ceramic clay, nonceramic clay, iron ore, and salt, are also well developed in relation to markets available. Although much of East Texas is rural and' nonindustrial, large industrial centers (i.e., the Hous­ton and Dallas areas) and a population of about 4 million occur within the general market area of East Texas. Abundance and variety of mineral raw materials, tech­nological advances in processing and marketing mineral raw materials, and continually increasing and urbanized population within existing market areas provide the eco­nomic framework for a more extensive and broad-based development of East Texas mineral industries and min­eral resources. Expansion of certain existing mineral industries and development of new mineral industries are possible. However, advantages of resources and markets as a basis for development can be realized only through accurate appraisal of the mineral resources of the area and through detailed evaluation of existing and potential markets for mineral raw materials and prod'ucts. TEXAS INDUSTRIAL PRODUCTION, DURABLE MANUFACTU RES ,~. 0 ~i 0 1954 '55 '56 '57 '58 '59 '60 '61 '62 '63 '64 '65 NOTE: Shaded areu lndic;ite periods of decline of total bu1ine11 activity in the United Sta.tu, TEXAS BUSINESS REVIEW SECURITIES REGISTRATIONS AND SECURITIES REGULATION IN TEXAS by Ernest W. Walker• Planning capital expenditures effectively necessitates that businessmen equate the supply of funds available from both internal and external sources with the demand for funds stemming from profitable investment proposals. While the majority of the funds used to finance operations are obtained from internal sources, business firms con­tinue to depend on external sources for both equity and debt capital; therefore, a thorough knowledge of this market is essential if management is to obtain capital at its lowest possible cost. It is believed that the presenta­tion of data regarding the registration of both debt and equity securities with the Securities Board' of Texas will aid greatly in achieving this goal, since businessmen will have available to them much of the raw data necessary to forecast future market conditions1 Such information regarding the future is essential to management in mak­ ing decisions regarding the proper time to enter the market. Information concerning the number and dollar volume of securities registered. with the Securities Board is also important to suppliers of capital-individuals as well as financial institutions-since it may be used to ascertain changes in demand for external fund's. Moreover, a de­ tailed· analysis of this information may be used to indi­ cate the types and kinds of firms seeking external funds in this market. An analysis is useful since it assists sup­ pliers of capital in selecting the most desirable outlets for their funds. Finally, this information is useful to economists who are interested in collecting regional data depicting eco­ nomic growth and development. For example, these data when combined with other types of information are useful in projecting the availability of capital funds as well as the level of capital investment. •Profeuor of Finance, The University of Texas. 1lt ahould be emphaalzed that not all securities aold in Texas must be regilltered. If the reader la interested in ascertaining the types and klnch of MCUrltles which are exempt, he ahould examine Section 6 of the Securities Act. Because of the varied uses of these data, they will be re­ported in this and future issues of Texas Business Review. Interested readers may obtain monthly data regarding the number and dollar volume of registered securities by ex­amining the section of the Review entitled' "Barometers of Texas Business." In addition, this information along with other data such as the number of licenses granted, cease and desist orders, etc., will be summarized, evaluated and published quarterly and annually in appropriate issues. In order to provide a record of the activities of the Se­curities Board' during the decade of the 1960's, an op­erational summary for each of the fiscal years 1960 through 1964 appears below. A brief description of the organizational structure and functions of the Board is included. The present State Securities Board was created in 1957 by the 55th Legislature for the purposes of (1) regulating the sale of securities in Texas, (2) licensing sellers of securities (persons as well as corporations), (3) regulat­ing advertising and the methods used to sell securities, and ( 4) preventing violations of the Securities Act. The operations of the ·securities Board are effected by and through the following organization: a three-member Securities Board, a Securities Commissioner, a Deputy Securities Commissioner, and three operational divisions, namely, the Securities Registration Division, the License Division, and the Enforcement Division. The principal function of the Securities Registration Division is to examine and evaluate all applications, original as well as renewal, for registration of securities to be sold in Texas under the Securities Act. In carrying out this function the Chief Examiner, with the assistance of qualified securities analysts, examines in detail all data which will assist in evaluating the merits of the issue from the standpoint of the fair, just and equitable stand­ards as set forth in the Securities Act. If the application complies with the provisions of the Act, the Commis­sioner grants the applicant a permit to issue and dispose of such securities. However, if the application does not Table I SECURITIES REGISTRATIONS IN TEXAS, 1960-1964 (By fiscal years) 19641960 1961 1962 1963 Dollar Dollar Dollar Dollar Dollar Amount Amount Amount Amount Amount Number (millions) Number (millions) Number (millions) Number (millions) Number (millions) Securities regiatered­ Orlir!nal applications: Mutual Investment funds ... 93 $ 90.1 107 $113.9 105 $113.1 58 s 81.8 84 $ 96.6 All other companies: Texas companies ·· ·· ··· · Other companies ······ ··· ·· ········ Total ············· ··········· ·· ··· 105 128 821 48.6 55.3 194.0 94 260 461 98.0 56.6 286.5 124 284 5n 79.0 64.7 256.8 74 170 302 34.l 3.5.5 151.4 54 146 284 73.3 46.5 216.4 Reiriatratlona renewed: Mutual lnveetment funds . . ............ 103 62.2 121 70.7 i38 86.6 144 81.5 151 96.4 All other companies: T-companies ................ . .. . Other companies . . ...... . .... . . .... . 22 10 5.5 2.4 36 14 ~.3 3.1 24 13 10.9 3.0 37 22 10.9 5.5 26 7.2 I.I KAY 1965 Table II LICENSES ISSUED BY THE TEXAS SECURITIES BOARD, 1960-1964 (By fiscal years) 1960 1961 1962 1963 1964 Corporate Dealers 630 635 729 693 489 Individual Dealers 440 363 392 337 275 Dealers in Oil and Gas Interests. 1.480 1.310 1,244 1,179 1,116 Salesmen .,. .3,618 3,986 4,441 3,989 2,897 Finance Companies Chartered Under Art. 1524a 244 343 406 416 0 Investment Advisers 12 11 12 17 21 Real Estate Investment Trust Dealers . 3 3 Table III ENFORCEMENT ACTIVITIES OF THE TEXAS SECURITIES BOARD, 1960-1964 (By fiscal years) 1960 1961 1962 1963 1964 Total number of investigations opened. N.A. N .A. 183 88 146 Convictions obtained as q. result of investigations . .. . .. ... 3 8 12 6 s Indictments obtained for violations of the Securities Act 61 21 38 29 Cease and desist orders Issued by Commissioner 21 13 16 Cease publication orders l'ssued by Commis­ sioner prohibiting thei use of false or misleading sales material 7 3 8 Dealers and salesmen reCistrations or ap­ plicationa for registration denied, re­ voked or withdrawn in hearings or on notice thereof · ·· · ·· ··· · · 10 16 7 13 4• •Denied or revoked a!tier hearings. meet with the provisions of the Act, the Commissioner is authorized to deey the application. In the event of de­nial, the applicant diay request a hearing before the Com­missioner. After a lair hearing, the Commissioner issues a written order upholding, amending, extending or re­versing the previous action. The primary furlction of the License Division is to register all personi!l and corporations authorized to sell securities. In addition to administering the prescribed tests, personnel of the Division examine the personal and business reputation, employment record, financial condi­tion and other qualifications of the applicant. Informa­tion contained in Table II summarizes the activity of this Division during the years 1960-1964. In order to facilitate the licensing function, examination centers have been set up throughout the state and reciprocity arrangements have been established with securities administrators of other states. Cooperation with the New York Stock Ex­change and the National Association of Securities Deal­ers regarding licensing also helps to eliminate duplication. The Enforcement Division was established to investi­ gate all~ged violations of the Securities Act. The princi­ pa.l du.t1~s of the attorneys and auditors who make up th.is D1v1s1on are: (l) to collect and present evidence and w1tn~sses, and to tepresent the staff in administrative heanngs conducted before the Securities Commissioner· (2) .to ~etect violations of the Act and to present evidenc~ to distnc~ an~ county attorneys in the state; and (3) to prevent violations of the Act. TEXAS RETAIL SALES IN MARCH by Robert H. Drenner Preliminary estimates of retail sales in Texas in March indicate that the substantial improvement shown by Janu­ary and February sales over sales in the same months a year before was characteristic of the entire first quarter of 1965. Texas retail merchants reported a totai dollar volume 5% greater this March than in March 1964, and sales for the January-March period were an estimated 6% higher than sales in the first quarter of 1964. The preliminary retail sales data for March indicate continuance of the trend shown by the January and Feb­ruary data: the most marked improvement was shown in sales of durable goods, more specifically, in sales by automobile dealers. March durable-goods sales were up 16% from March 1964 and for January-March recorded a 9% gain from the comparable 1964 period. March volume in the nondurables category fell 2% from the same month last year yet for the year to date showed a 3% gain from the first quarter of 1964. Texas motor vehicle dealers were responsible again in March for the major portion of the continuing improve­ ment in sales of durable goods. Volume in the automotive category rose 19% from February, compared with a nor­ mal seasonal decline of about 8%, and was 25% greater than in March 1964, for a first-quarter gain of 14%. Pre­ liminary national retail sales estimates for March and the latest available data on consumer borrowing to finance purchases of automobiles also indicate that the optimism of U. S. automobile manufacturers as to the strength of the new-automobile market has, at least thus far, been justified. The evidence is that relatively few March sales were gained at the expense of sales lost as a result of the fall 1964 strikes. April sales seefu likely to show a strong gain from April '1964. Texas retail sales of nondurables in March, though up 10% from their February level, were 2% below sales in March 1964. Last year, however, Easter fell on the last Sunday in March, and this year it came on the third Sunday in April. This calendar variation was almost cer­ tainly responsible for the poor performance this March by the nondurables category. It is noteworthy that among the major nondurables classifications the most severe March-to-March sales declines were reported by apparel stores and' department stores. It is consequently to be expected that when data on April sales in these classifica­ tions become available, substantial increases from April a year ago will be indicated-regardless of whether con- ESTIMATES OF TOTAL RETAIL SALES IN TEXAS (Millions of dollars) Percent chanire Type of store Mar 1965 Jan-Mar 1965 Mar 1965 from Feb 1965 Jan-Mar 1965 Mar 1965 from from . Jan-Mar Mar 1964 1964 TOTAL ... ... . $1,164.5 Durable goods• . 463.6 Nondurable goods 700.9 $3,818.5 1,298.6 2,024.9 +is +17 +io + 5 +14 -2 + 6 + 9 + 8 •Contains automotive stores, furniture stores, and lutnber, building material, and hardware stores. TEXAS BUSINESS REVrnlW RETAIL SALES TRENDS BY KINDS OF BUSINESS Percent change Normal seuonal• Actual Kinda of business Number of reporting Mar establish-from ments Feb Jan-Mar 1965 Mar 1966 Mar 1965 from from from Jan-Mar Feb 1966 Mar 1964 1964 DURABLE GOODS Automotive stores . 438 -8 +19 +25 +14 Fumiture & household appliance stores .......211 + 6 +io + 5 + s Lumber. building material, and hardware stores . . .....262 + 7 +28 -1 + 2 NONDURABLE GOODS Apparel stores . . . . . . . . 882 +s5 +is -13 -3 Druptores .. 259 + s -1 + s + 3 Eatins and drinkintr places Food 1torea ...... . 119 .... 455 + 9 +14 + 9 +12 -1 + 2 •• •• Guoiine and service ltations . . . ...... . 581 + 8 +12 + -1 General merchandise ltorea ......... .. ......828 +41 +22 -8 -s Other retail 1torea . . . 322 +12 + 9 + 4 + 2 *Averaa;e aeuonal change from preceding month to current month. **Chanse 11 less than one-half of 1o/o. sumers' Easter buying this year exceeded last year's. The data now available on this year's Easter shopping is sketchy, but there is some evidence that consumer pur­chases related to the holiday weekend did not measure up to merchant expectations. If this turns out to have been the case, it will be arguable to what extent sales were depressed by the fact that the deadline for filing 1964 personal income tax returns fell on Maundy Thursday this year. There is also some evidence that such factors as .the increase in leisure time, the rapid growth of per­sonal incomes, and the accelerated trend toward "in­formal" living are changing the familiar patterns of consumer spending. Such spending, even for apparel and travel, though still tied to some extent to the traditional holidays, is becoming noticeably more spread over the entire year, as expenditures for casual wear and for rec­ reational activities occupy a larger and larger place in consumer budgets. The good life is not a seasonal phenom­enon, and its reflection in retail spending is increasingly less so. Retail trade data for Texas from the 1963 Census of Buaineas, recently released by the U. S. Department of Commerce, reveal some significant changes in Texas re­tailing over the 1958~1963 period. Some of these changes are suggested by the selection from .the Census data in the table below. In this table, the category "establishments with pay­roll" includes all those with paid employees; i.e., it ex­cludes unincorporated businesses operated exclusively by their owners. To some extent, therefore, a 1958-to-1963 comparison of the total number of retail establishments in a given category with the number of those with payroll in -the same category reflects the trend, for tax and other purposes, toward the incorporation of retail businesses. It is nevertheless evident that the data also reflect the rapid disappearance of the smaller retailer. With only a few KAY 1985 exceptions, those categories which show a 1958-1963 in­crease in the number of retail establishments show a sub­s~~tially greater increase in the number with payroll; s1m1larly, those categories which show a decline show a markedly smaller decline in the number of establishmenta with payroll. And in several categories (including the state total), the total number of retail businesses has de­clined while the number of those with payroll has in­creased. Analysis of the more detailed data in the 1963 Census of Business generally confirms the trend suggested by the selected data in the table: not only are the smaller retailers going out of business; their sales are disappear· ing at an even more rapid rate. For example, the total number of retail establishments in Texas operated solely by their owners declined 18% from 1958 to 1963, but total sales by such stores fell 20%. It is probable that if the Census data were sufficiently detailed· to permit such com­parisons they would also show that the larger retailers (by number of employees) are responsible for a progres­sively greater proportion of total retail volume than the increase in their number alone would indicate. While the total number of retail establishments in Texas declined almost 3% from 1958 to 1963 and total dollar sales rose nearly 18%, the total number of indi­viduals employed in retail trade in the state remained virtually constant over the five-year period (537,168 in 1958 and 536,908 in 1963). That is, average per-store retail sales grew much more rapidly during the period than did average store employment-in spite of the fact that during the same period the number of hours worked by the average retail employee declined 1 %-2%. This rapid increase in recent years in retail employee produc­tivity has been brought about by more efficient store lay­outs, the increased adoption of serve-yourself techniques, the accelerated mechanization of retail billing and book­keeping operations, and similar improvements in retail merchandising and store operation generally. NUMBER OF RETAIL ESTABLISHMENTS AND SALES, PERCENTAGE CHANGES IN SELECTED CATEGORIES, TEXAS, 1958-1963 Number of establishments. Sales. percent change, 1958-1963 percent chanire. Kinds of business Total With payroll 1958-1961 2.7 + 4.7 +17.8 Lumber & building material dealers . -20 -11 -9 Heating. plumbing, paint, & electrical stores TOTAL. TEXAS ­ -8 +18 +15 -20 -IS -6 Department stores +44 +44 +44 Variety & general merchandise stores -27 + 2 +19 Hardware stores -7 •• +13 Grocery stores .... Automotive dealera + s + 6 +31 +16 Gasoline & service stations + I +10 + 7 + 7 +15Apparel & accessories stores . Furniture and home furnish­+ + 8 ings stores + 1 Household appliance. radio, television, & music stores -IS -4 Eating places -2 + 6 +24 -3 + 2 +20Drugstores +16 + 7 +23 Book, stationery stores . . . . . .. . . . -16 -5 -7 Liquor stores + 1Sporting goods stores + 2 + 6 -2 -11 -6 Jewelry stores .. Source: 1963 Ce...,.. of 81'8ineaa, U. S. Department of Commerce. TEXAS BUILDING CONSTRUCTION AUTHORIZED IN MARCH by John R. Stockton The value of total building construction authorized in Texas rose at the seasonal rate between February and March, leaving the seasonally adjusted index of total con­struction activity in the state unchanged from the 118.5% of the 1957-59 average reached in February after a rather strong increase from January. It came somewhat as a surprise that residential building registered a substantial increase over February. This rise in residential building was offset by a decline in the nonresidential category. For the first quarter of 1965 the total value of new building construction authorized in Texas was 15% below the value for the first quarter of 1964. Both residential and nonresidential building were below the level of the first quarter of last year. The quarterly data indicate, better than the erratic data for a single month can show, that 1965 build'ing is not keeping up with the record pace of a year ago. Residential building for 1964 was below the level of 1963, and the first quarter of this year did not quite succeed in reversing this trend. During 1964 the strong pace of nonresidential building, led by building of industrial structures, offset the decline in residential building to establish a record' year for total construction authorized. There is some evidence that the trends of these two segments of the building industry may be reversed during 1965. Apartments authorized rose from $8.4 million in Feb­ruary to $13.8 million in March, a spectacular rise of 64%. However, the value of apartments authorized in February was abnormally low, and when the value of apartments authorized for the first quarter of 1965 is compared with the value authorized in the same period of last year, a d'ecline of 49% is indicated. Evidence con­tinues to accumulate that the apartment boom in Texas has passed its peak, although there is still a substantial amou~t of construction of this t~pe. This category, how­ever, is the weakest part of residential building. Waco, El Paso, and the Beaumont-Port Arthur-Orange standard metropolitan statistical areas reported strong increases for the first three months of 1965 over the same period of 1964. On the other hand, forecasts for apartment building in Dallas indicate a decline of 30% to 40 %, and the first three months of 1965 have shown a decline of 59%. Tyler and San Angelo reported' no new apartments authorized to date this year. The value of one-family dwellings authorized in March increased 30% from February, bringing the first-quarter total to within 4% of the first quarter of last year. This strong showing so far this year in construction of one­ family dwellings is an encouraging sign. The rapid growth of the metropolitan areas of the state continues to create a demand for new housing. In spite of the strong ups~rge m apartment building, the one-family house contmues to be the basic component of the housing mar­ ket. In 1964 one-family housing authorized in Texas was 72'.c of the total value of residential housing authorized. This percentage increased to 80% for the first quarter of 1965. New housing starts in the United States rose 9% in March from the preceding month, but in contrast to the situation in Texas the number of authorizations of multi­ple-family dwellings increased while single-family dwell­ings decreased. It appears that the trend in Texas is healthier than in the nation as a whole, although even with the better showing in Texas it is evident that hous­ing is not moving ahead as fast as the rest of the economy of the state. It is inevitable that a slowing down in a major barometer such as residential building should be the cause of some uneasiness, but as long as the different segments of the building ind'ustry are moving in opposite directions there is a tendency for the total of the industry to be more stable than the components. In nonresidential building .the first three months have failed to retain the strength shown in 1964. After ad­justment for seasonal variation, the March nonresidential index declined 20% from February. The first quarter of the year was 10% below the same period last year. ESTIMATED VALUES OF BUILDING AUTHORIZED IN TEXAS Percent chanKe Jan-Mar Mar Jan-Mar 1966 1966 1966 Mar 1965 from from Jan-Mar Classification (thousands of dollars) Feb 1965 1964 ALL PERMITS .. 134,777 866,824 + 16 -10 New construction .... 113,160 814,480 + 18 -16 Residential (housekeeping) 71,451 186,592 + 85 -18 One-family dwellings. 57,641 150,174 + so -4 Multiple-family dwellings 13,810 86,418 + 64 -49 Nonresidential buildings 41,709 127,888 -18 -10 Nonhousekeeping buildings (residential) 1,808 6,458 -4' -26 Amusement buildings . 788 2,710 +650 -66 Churches 3,352 9,661 -16 + 16 Industrial buildings . 3,886 13,463 -28 -17 Garages (commercial and private) 468 1,617 + 28 -6 Service stations 1,192 8,572 + 18 -19 Hospitals and institutions 3,990 7,887 +119 -56 Office-bank buildings. 5,775 26,877 -55 + 64 Works and utilities 139 Educational buildings . 11,350 3,055 27,989 -90 + 21 + 4.. Stores and mercantile buildings 7,350 22,857 - 5 -12 Other buildings and structures 1,626 3,842 +116 -40 Additions, alterations, and repairs 21,617 51,844 + 86 + 42 METROPOLITAN vs. NONMETROPOLITANt Total metropolitan .. .... 108,609 299,862 + 12 -11 Central cities 80,933 228,606 + 7 -14 Outside central cities Total nonmetropolitan 27,676 26,168 70,746 66,972 + 32 + 83 - 2 •• 10,000 to 50,000 population 13,298 86,617 + 16 -1 Less than 10,000 population ... 12,870 30,355 + 59 •• tAs defined in 1960 Census. ..Change is less than one-half of 1o/o. Source: Bureau of Business Research in cooperation with the Bureau of the Census, U. S. Department of Commerce. TEXAS BUSINESS REVIEW BUILDI G CO NSTR UCTIO A THORIZED I TEXAS INDEX -ADJUSTED FOR SEASONAi VARIATION-1957 1959 100 NOT£: ShAded 1ru1 lndlcue pulod1 o! decline o! 1011.I bu1inen activity In the United S1ue1. Industrial build'ings showed the strongest rise in the nonresidential building group in 1964, with an increase of 92% over 1963. In the first three months of 1965, how­ever, industrial building decreased 17% from January­March 1964 with March decreasing 23% from February. Last year the construction of hotels and motels was an important factor in pushing the nonresidential category to a 25% increase over 1963. March, however, registered a 52% decline from February, and the first quarter was 29% below last year. Authorizations for the construction of stores and mer­cantile buildings increased 42% in 1964, but March 1965 was 5% below February. The first three months of 1965 declined 12% from the same period last year. Public utility construction in 1964 was up 39%, but the category showed only a 4% increase in the first quarter of 1965. Education building authorized rose 21% in March, and the first three months were approximately the same as in the first quarter of last year. The decline of 55% in office-bank building permits in March should not obscure the fact that for the first three months of the year this category increased 64% from the comparable period last year. This type of building shows the greatest strength for the first quarter of any of the large categories of nonresidential building. An interesting development in the construction industry is the trend toward multiple-use, high-rise buildings. In Dallas a pro­posed twenty-four-story tower is to be occupied by a bank, stores, offices, and apartments. The same pressure to get the most building floor space on scarce land that has brought about high-rise apartments is at work in this type of building, and it is to be expected that this trend will continue. A tabulation by Engineering News-Record shows that Texas construction contracts awarded totaled $1,595 mil­lion in 1964, an amount which ranked third in the na­tion, exceeded only by California and New York. Texas scored strong gains over 1963 in both the private and public construction sections, whereas California showed a loss in private construction and New York a loss in both categories. Construction contracts compiled by En­gineering News-Record include projects costing these minimum values: $100,000 for industrial plants, labora­tories, and non building; $500,000 for other buildings. One­and two-family developments are not included. Although there is some duplication between the data compiled by the Bureau of Business Research and the ENR contracts, the duplication exists only in the larger buildings. These have been included in both series. The large volume of heavy construction contracts was an extremely important factor in the overall rise in business in Texas d'uring 1964, and the favorable outlook for 1965 is encouraging as far as the prospects for the general situation of business are concerned. BUILDING AUTHORIZED IN SELECTED TEXAS CITIES Residential Dwelling units (number) Nonresidential Total construction• City January-March 1965 1964 January-MarchPercent Percent change 1965 1964 change January-March 1965 1964 Percent change January-March 1965 1964 Pe,.,ent chanire Abilene ... . . . .... . .. s 1,816,878 s 2.680,444 -82 90 264 - 66 $ 1,359,061 $ 595,345 +128 s 8,835,668 s 8,400,646 - 2 Amarillo .. . . .. .. . . . 8,018,145 6,313.245 -52 155 459 - 66 4,420,805 2,981,822 + 48 8,148,691 10,556.448 -23 Arllneton ········· 8,671,482 8,818,122 - 4 225 320 - 30 1,250.864 1,626,993 -23 5,316.471 5,718,885 - 7 Autin ... . . . . . .. . . . 9,143,500 11,742,800 -22 609 872 - 30 1.854,912 6,161,733 -70 12,800,577 18.860,078 -32 Beaumont , .. 8,807,662 1.774.728 + 86 286 170 + 68 1,637,668 l,711,407 - 4 5.184.170 8,776,244 + 17 Corpua Chriltl 8,594,476 4,213,152 -15 439 474 - 7 2,886,107 2,229,215 + 29 7,443,503 6,945,171 + 7 Dallaa ······· ···· 19,187,885 25,458,857 -25 1,872 2,900 -35 10,656,507 18,264,483 -42 87.378,647 47,895.683 -22 El Puo .... 10,001,609 7,038,850 + 42 705 802 - 12 3,403,506 3,193,841 + 7 15,500.609 11,552,479 + 84 Fort Worth 4,986.087 5,601,182 -12 426 608 - 29 5,099,410 4,260,200 + 20 12,326.084 12,898,588 - 4 Calveeton 539,281 931,483 -42 30 107 - 72 193,838 405,927 -52 1.100,862 l,750,987 -37 Garland ... . . . .. 2,409,203 8,068,763 -21 192 268 - 28 l,357,377 2,192,395 -88 8,832,827 5,593,691 -SI Grand Prairie .. 1.558,700 l,436,450 + 9 79 116 - 32 8,453,426 275,448 +l.154 5.248.154 1,940,694 +110 H01Uton ..... 27,898,586 44,916,547 -89 2,832 4,273 -34 27.404,525 33,050.371 -17 73.708.635 87,798.157 -16 lrvlna ······· . . .... 8,842,706 7,515,803 -49 357 1,138 -69 1,932,648 2,516,930 -23 6,081,061 10,107,788 -40 Lonavlew l,194,000 751,000 + 59 62 41 + 51 3,008,700 608,900 +394 4,359,900 1,493,700 +192 Labbock ····· ······· 7,294,680 8,378,712 -13 478 810 - 41 3,575,618 5,440,949 -34 11.791,050 14,607,560 -19 lleequlte ··· ······· ·· 1,308,402 l,016.398 + 29 115 87 + 32 313.490 280,512 + 12 1.722,491 1,370,652 + 26 Midland o.s..a . . . . . . . . . .... ·· ······ ······ 2,687,000 1,787,900 2,377,500 981,200 + 13 + 92 212 118 166 42 + 28 +181 l,376,500 0 1,286.700 388,742 + 7 -100 4.281. 730 2,856,003 4,086,670 1,757.188 + 5 + 68 Port Arthur ········· Rlchardaon ··· ··· ·· ·· San Antrelo ···· ·· ·· ·· San Antonio .... ..... TJler ··· ··········· · Waco ···· ····· ····· · Wichita Falla ····· ·· · 194,104 2,244,927 802,800 7,092,514 2,880,150 2,781,400 1,080,898 885,654 8,696,039 1.295,500 9.173,000 2,709,900 2,474,150 892.634 -42 -89 -38 -23 -14 + 10 + 15 17 122 70 752 123 295 81 35 209 132 l,249 160 194 68 -51 -42 -47 -40 -23 + 52 + 19 305.795 610,000 549.573 3,536,308 556,380 2,726,093 1,617.067 1,051,930 2,808,709 93,743 6,528,689 5,167,210 l,157,894 1,392,905 -71 -78 +486 -46 -89 +135 + 16 713.917 2,915,067 1,453.853 13.543,579 2,958,145 6.211,004 3.162,384 1,597,910 6, 573,485 1.588,588 18,193.765 8,073,266 4,247,921 2.495,204 -55 -56 -8 -26 -68 + 46 + 27 •Incllld• addltloll8, alteratioll8, and repairs. lrAY 1966 LOCAL BUSINESS CONDITIONS Percent change Percent chan1e Mar 1965 Mar 1965 Mar 1965 Mar 1966 Mar from from Mar from from City and item 1965 Feb 1965 Mar 1964 City and item 1965 Feb 1965 Mar 1964 ABILENE AMARILLO Standard Metropolitan Statistical Area (pop. 126,3201; Jones and Taylor2) Standard Metropolitan Statistical Area Buildlntr permits, less federal contracta $ 936,248 -46 -29 (pop. 166,6161 ; Potter and Randall2) B11nk debita (thousands) . . .... ... .$ 1,683,096 + S + 10 Building permits, less federal contracta $ 2,108,816 -21 -47Nonfarm employment (area) . 35,450 •• -2 Bank debits (thousands) . . ... . . $ 3,999,588 + 5 + 1' Manufacturintr employment (area) . S,960 •• -9 .. Nonfarm employment (area) . 54,100 ••Percent unemployed (area) . 4.6 -15 -19 Manufacturing employment (area) . 6,450 •• + 1 ABILENE (pop. 110,049r) Percent unemployed (area) . 4.5 -lS + 2ZRetail sales .. ...... .. . ... . . . . . + 12t + 18 -5 Apparel stores + S5t + 20 -16 AMARILLO (pop. 155,205r) Automotive stores St + 21 + 2 Retail sales + 12t + 9 -2Druptor* .. S 5,083 - 1 4 Furniture and household Annul rate of depoelt turnover. . . . . . 11.2 + 17 + 8 appliance stores + St + 20 + 85 ARLINGTON: see FORT WORTH SMSA ATHENS (pop. 7,086) General merchandise stores . Postal receipts• . . .. .. .. .. . . S Building permits, less federal contracta $ + 4lt 24,489 75,195 + 41 -18 -70 -28 -9 -42 PCJltal recelpta• . . . . . .. $ 14,48S + 10 + 27 Bank debits (thousands) . $ 29,S20 + 4 2 Balldlns permlta, lea federal contracts $ Bank deblta (thousanda) . . . . ..$ 444,SOO 12,S74 +799 + 12 +sos + lS End-of-month deposits (thousandsJi . . $ Annual rate of deposit turnover. 25,402 14.4 + 6 + 10 + 1 End-of-month depoelta (thouaanda) i . .S S,77S - 4 -lS Nonfarm placements 149 + 2 + 8 Annul rate of deposit turnover. 17.8 + 18 + 48 AUSTIN Standard Metropolitan Statistical Area (pop. 243,2261; Travis2) Bllildllllf permlta, leu federal contracts S 5,181,786 Bulk cleblta (thouaanda) . . ... . . ... ... ' 4,198,452 Nonfarm employment (area) . 94,200 Kanufacturlns employment (area) . S,850 + 50 + 11•• -2 -14 + lS + 5 + 4 PORT ARTHUR (pop. 66,676) Retail sales Automotive stores Furniture and household appliance stores General merchandise stores. Lumber, building material, and hardware stores + 12t St + St + 4lt + 7t + 18 + 11 + 14 + 2S + 46 + 9 + 25 -14 -20 -20 Pefcent unemplo:ved (area) . 2.8 - lS -18 Postal receipts• $ 58,876 + 14 + lS AUSTIN (pop. 212,000r) Retail u.lea . . . . .. . .. . .. . + 12t •• •• Building permits, less federal contracta $ Bank debits (thousands) . . .. . . . $ 193,890 68,02S -SS + 7 -14 + 11 Apparel atorea .. . + 85t + 81 + 2 End-of-month deposits (thousands) i . .$ 42,S49 + 1 - 1 Automotive 1tore1 . . . . . Druptorea ... .. .. . . . . .. ... .. . . . St + St -12 •• + 4 + 8 Annual rate of deposit turnover. 19.2 + 8 + 10 Eatlns and drinking places . Pood atores .. .. . . . ... . . . Furniture and household ap~llance atorea . ...... . General merchandise stores . . Lumber, building material, and hardware atorea.. ... + 9t + 14t + st + 4lt + 7t + 16 + 10 6 + 2 + 80 2 + 2 + 12 -lS -1 PORT NECHES (pop. 8,696) Postal receipts• . ... . . . . . . ...... . . . . $ Building permits, less federal contracta $ Bank debits (thousands) . . $ End-of-month deposits (thousandsJi. . $ Annual rate of deposit turnover. S,48S 61,S66 16,464 S,667 26.7 + 9 + 67 + S8 -10 + 4S + 11 -67 + 90 + 10 + 67 Poetal recelpta• . . . . . . . Balldlns pennlta, less federal contracta $ $ 659,000 6,10S,7S5 + 17 + 60 + s -12 BAY CITY (pop. 11,656) Retail sales Bank deblta ( thouaanda) . . .... .. .$ Ind-of-month depoalta (thousandali.. S Annul rete of depo1it turnover. 364,768 181,901 24.6 + 12 + 10 + 11 + 18 •• + 21 Automotive stores Postal receipts• Bank debits (thousands) .. . .. .. . . $ $ -St 18,277 17,174 + lS -26 •• + 28 8 + 9 BAYTOWN: see HOUSTON SMSA BEAUMONT-PORT ARTHUR-ORANGE End-of-month deposits (thousands) i $ Annual rate of deposit turnover . Nonfarm placements . ..... . ... . . 25,860 8.1 92 -1 + 8 + S4 + + s + 11 Standard Metropolitan Statistical Area (pop. 314,7431; Jefferson and Orange2) Balldlnir permlta, less federal contracts $ 1,988, 791 -5 Bank deblta (thouanda) . ... . . . .. . .. .f 4,446,28S + 2 Nonfarm employment (area) ... . .. . . . 109,600 + 1 Manufacturing employment (area) . 84,770 + 1 Percent unemplo:ved (area) .. . . ... . 4.9 -17 BEAUMONT (pop. 127,500r) Retail u.lea ... . . . . . ... .. . . . . ...... . Apparel atorea . .... . . . .. .... . . ... . Aatomotlve atores ... . . . . + 12t + 85t St + 26 + + 80 + 4 + 16 -2 -1 -18 + 9 -17 + 18 BEEVILLE (pop. 13,811) Retail sales Drugstores Food stores Postal receipts• $ Building permits, less federal contracta $ Bank debits (thousands) . . . . $ End-of-month deposits (thousands) i $ Annual rate of deposit turnover . Nonfnrm placements + St + 14t 18,956 22S.SOS 11,S95 15,155 9.1 lOS + s + 11 + 8 +776 + 20 -4 + 21 + 52 + 8 + 18 + 2 +788 + s + I + I + 1 l>ruptores . .. . . ... . .... .. . . Eating and drinking places . . . ... . . Food atores .. . . . .. . . . . . . Furniture and household appliance atores . . . . . ..... . . Guoline and service stations. . + St + 9t + 14t + St + St -6 + 10 + 9 + 80 •• -5 + 1 -12 + 28 + 8 BIG SPRING (pop. 31,230) Retail sales Apparel stores Automotive stores Drugstores + 12t + 85t St + st + 86 + 89 + 48 -6 + 10 -18 + 50 -6 General merchandise stores. LUJDber, building material, + 4lt and hardware atorea. . . . . + 7t Poetat recelpta• . . . . . . . . . . . . . . . . . . . . s 189,1S6 111111cling permlta, lea federal contracts $ 1,211,142 Bank deblta (thousands) . . . ... ... . .. .s 2S4,802 BnlMf-month depoelta (thouaanda) i . .S llS,108 Aaa11111 rete of depoelt turnover. . . . . . 27.4 + 40 + 89 + + 10 + 28 + 4 + 21 -4 -12 + 4 + 18 + 29 + s + 20 Lumber, building material, and hardware stores . . . . Postal receipts• $ Building permits, less federal contracts $ Bank debits (thousands) . $ End-of-month deposits (thousends) i . .$ Annual rate of deposit turnover. Nonfarm placements .. . . .. . . .. . + 7t 29.lOS 246,205 37,494 24,368 18.4 164 + 18 -16 -56 + 8 1 + 9 1 .. 9 + 8 + 1 6 + e -24 MAY 1966 Percent change Percent chanire Local Business Conditions Local Business Conditions Mnr 1965 Mar 1965 Mar 1965 Mar 1966 Mar from from Mar from from City and item 1965 1965 Feb 1965 Mar 1964 Feb 1966 Mar 1964 City and item LOS FRESNOS (pop. 1,289) BISHOP: see CORPUS CHRISTI SMSA Postal receipts• . . . . . . . . . . . . . . . . . .$ 1.807 + 17 -28 Ba nk debits (thousands) . . . . $ 1,046 + 8 -80 BONHAM (pop. 7,357) End-of-month deposits (thousands) t .. $ 1,250 + 7 -16 Annual rate of deposit turnover . 10.4 Retail sal"" + ' -17 Automotive stores -St + 65 + 19 LA FERIA (pop. 3,047) Postal receipts• .. .$ 7.656 -1 -5 Buildinir permits. le9s federal contracts $ 84,000 -49 +us Postal receipts• .. $ 2,628 + ' + ' 7,901 s Building permits, leas federal contracts $ 8,000 -45 End-of-month deposits (thousands)t .. $ 8,354 + 4 + 8 Bank debits (thousands) ... .$ 1,741 + 8 -u Annual rate of deposit turnover . 11.6 + 6 4 End-of-month deposits (thousands) t .. S 1,474 -2 Annual rate of deposit turnover .... -' Bank debits (thousands) $ + 7 +181 14.0 + 11 -10 BORGER (pop. 20,911) PORT ISABEL (pop. 3,575) Poatal receipts• ...$ 22,045 + 15 + 2 Postal receipts• ....$ 8,744 -2 +u Duildinir permits. less federal contracta $ 234,000 + 548 + 44 Building permits, less federal contracts $ 21,725 +291 +70 Nonfarm placements 133 -4 + 64 Bank debits (thousands) . .$ 1,701 + 16 +10 End-of-month deposits (thousands)t.. $ 1,194 -9 -I Annual rate of deposit turnover.. . . . . 16.8 + 18 + 10 BRADY (pop. 5,338) Poatal receipts• $ 4,865 -12 -10 SAN BENITO (pop. 16,422) Buildinir permits, less federal contracts $ 20,875 + -19 Postal receipts• . S S,222 + 11 + 6 Bank debits (thousands) . . . .. .$ 6,070 + 25 + 5 Building permits, less federal contracts $ 19,950 -89 24 -End-of-month deposits (thousands) t .. $ 7,165 + 4 Dank debits (thousands) .... .........S 5,Sl9 + 16 + 8 Annual rate of depoait turnover. 10.4 + 24 + 9 End-of-month deposits (thousands)t .. $ 5,880 + 2 + I Annual rate of deposit turnover . 12.1 + 16 + 11 BRENHAM (pop. 7,740) Postal receipts• .......$ 10,544 + 5 -16 BROWNWOOD (pop. 16,974) .. Buildinir permits. less federal contracts $ 594,730 +914 Retail sales + 12t + 8 Dank debits (thousands) .$ 12,516 + 10 + 5 Apparel store9 + 85t + 7 -24 End-of-month deposits (thousands) t .. $ 14,466 + 1 + 9 Postal receipts• ....$ 81,006 + 1 Annual rate of deposit turnover . 10.4 + 11 s Building permits, less federal contracts $ 1.046,170 + 40 Bank debits (thousands) .. S 20,S85 + 14 + 6 End-of-month deposits (thousands) t .. $ 18,169 -1 •• BROWNFIELD (pop. 10,286) Annual rate of deposit turnover. lS.9 + 17 + 6 Postal receipts• .... .$ 11,177 + 85 + 16 Nonfnrm placements 119 + 8 +81 Buildinir permits, leas federal contract• $ 101,085 -42 Bank debits (thousands) ....... ... .$ 26,631 + 29 + 66 BRYAN (pop. 27,542) End-of-month depoaita (thousands) t .. $ 15,983 + 2 -4 Retail sales + 12t + 26 + 2 Annual rate of depoait turnover. 20.2 + 84 + 80 Apparel stores + 86t + 29 -19 Automotive stores -St + 64 + 27 BROWNSVILLE-HARLINGEN-SAN BENITO Food stores + 14t + 2 -17 Lumber, building material, Standard Metropolitan Statistical Area and hardware stores . + 7t + 22 + 28 (pop. 146,2071 ; Cameron2) Postal receipts• .$ 27,067 -6 + 1 Buildinir permits, leas federal contracts $ 329,845 + 14 -49 Building permits, less federal contracts $ 878,272 +107 -81 Bank debits (thouaanda) ............ .S 1,266,624 2 + 4 Bank debits (thousands) . . .. $ 85,26S + 10 + 26 Nonfarm employment (area) . 85,800 + 2 + 3 End-of-month deposits (thousands) t .. $ 21,629 + 8 +u Manufacturinir employment (area) 5,390 + 2 + 10 Annual rate of deposit turnover . 19.9 + 8 + 18 Percent unemployed (area) . 6.7 -11 -20 Nonfarm placements 289 -21 + 11 BROWNSVILLE (pop. 48,040) CALDWELL (pop. 2,202r) Rei.ail aales + 12t + 7 + 15 Postal receipts• ..........$ 8,072 + 25 + 17 Apparel stores + 35t 5 22 Automotive stores St + -+ 19 Bank debits (thousands) . . .$ 2,595 + 12 +H Lumber, buildinir material, + s End-of-month deposits (thousands) t .. $ 4,057 •• + I and hardware stores. + 7t + 87 + 26 Annual rate of deposit turnover . 7.7 + 16 + 12 Poatal receipts• .......$ 39,580 + 7 -1 CAMERON (pop. 5,640) Buildinir permits, less federal contracts $ 223.920 + 6 +so Postal receipts• . . ........ .$ 6,651 -17 -11 Bank debits (thousands) . . ... .$ S7,008 •• + 4 End-of-month depoalts (thousands) t .. $ 21.298 + + s Building permits, less federal contracts $ 26,250 -60 + 17 Annual rate of deposit turnover . 21.3 •• + 2 Bank debits (thousands) .............$ 4,S56 6 + ' Nonfarm placements End-of-month deposits (thousands) i .. $ 6,196 + + 8 601 -8 + IS Annual rate of deposit turnover ... 11.8 + • HARLINGEN (pop. 41,207) CANYON: see AMARILLO SMSA Retail sales + 12t + IS + 2 Automotive 1torea ...... ... . St + 21 CARROLLTON: see DALLAS SMSA Lumber, buildinir material, and hardware stores + 7t -s + 41 CISCO (pop. 4,499) Postal receipts• ...... .$ 37,044 + 7 + 11 -2 Postal receipts• . . .... . ..$ 5,587 + 28 Buiidinir permits, leas federal contracts $ 61,250 + 6 + 97 -67 Bank debits (thousands) . . .. . $ 4,201 + 21 Bnnk debits (thousands) $ 40,464 + 17 + 16 End-of-month deposits (thousands)t..$ 8,660 •• + 6 End-of-month deposits (thousands) t. $ 1 20,534 1 -2 Annual rate of deposit turnover . . . . . . 18.7 + 19 Annual rate of deposit turnover . 23.5 + 17 + 15 Nonfarm placements 501 + 11 + 18 CLEBURNE: see FORT WORTH SMSA 138 TEXAS BUSINESS REVIEW Percent change Percent chanae Local Business Conditiotts Local Business Conditions Mar 1965 Mar 1965 Mar 1965 Mar 1965 Mar from from Mar from from City and Item 1965 .. ·eb 1965 Mar 1964 City and item 1965 Feb 1965 Mar 1964 CLUTE (pop. 4,501) CRYSTAL CITY (pop. 9,101) P..tai recelpta• ... ................. .s 2,555 + 5 + 21 Postal receipts• ........ s S,501 -5 -11Bolldlntr permlta, 1-federal contract. s 25,842 +861 +115 Building permits, less federal contracts s 64,000 -69 + 50 Bank debits (thouaanda) . .... .. . ... . s 2,080 + 9 + 11 Bank debits (thousands) .......... . $ 8,805 + 85 + 26End-of-month depoaita (thousands) i. .$ l,7Sl + 2 + 19 E'\d-of-month deposits (thousands) i. $ 3,056 -1 + lSAnnual rate of depoalt turnover . ..... 14.2 + 7 -6 Annual rate of de!i>osit turnover .. ... 14.9 + SS + 11 COLLEGE STATION (pop. 11,396) DALLAS Poatal receipta• . ............. . s 22,S5S -8 + 8 Standard Metropolitan Statistical Area Bulldina permits, leu federal contracts $ 162,202 + 21 -11 Bank deblta (thouaanda). .$ 6,028 + 11 + 10 (pop. 1,232,6251 ; Collin, Dallas, Denton, and Ellis2) End-of-month depoalta (thousands) i. s 8,952 -9 + 4 Building permits, less federal contracts $28,785,127 + 27 -14 Annual rate of depoalt turnover. 17.4 + 18 + 1 Bank debits (thousanda) ....... ... . . . S58,791,948 .. + ao Nonfarm employment (area) . 522,000 •• + 4 COLORADO CITY (pop. 6,457) Manufacturing employment (area) . 118,250 + 2 + n.tall aales Percent unemployed (area) . s.s -11 '8 Lamber, bulldintr material, CARROLLTON (pop. 9,832r) and hardware atorea + 7t -2S -9 Postal receipts• . . . . . ...............S 9,552 + 1 + 81 Poatal recelpta• ............. s 6,257 •• + 12 Building permits, less federal contracts s 229,650 + 88 -'6 Bank debits (thouaanda) . ....... s 5,0S2 + s + 14 Bank debits (thousands) .. . ......... s 6,808 + 20 + 6 End-of-month deposits (thousands) i. $ 6,296 + -7 End-of-month deposits (thousands) i. s S,899 + 18 -1 Annual rate of deposit turnover...... 9.7 + + 23 Annual rate of deposit turnover . 25.5 + 15 + 12 COPPERAS COVE (pop. 4,567) DALLAS (pop. 679,684) Poatal recelpta• . . . . . . . . . . . . . . . .S 4,S89 + 9 + 12 Retail sales + 10 + 18 + 10 Bolldlntr permlta, less federal contracts $ 198,48S -12 •• Apparel stores + SI + -22 Bank debits (thouaanda) . . . . ...... .$ 1,907 + 20 + 18 Automotive stores + 13 + 26 + 48 End-of-month depoalta (thousands) i . .S 2,06S + 41 + 28 Dru1111tores 6 + 5 Annual rate of depoalt turnover.. . . 12.9 + 6 + 7 Eating and drinkintr places . + 7 + 4 a Florists + 9 + 1 6 CORPUS CHRISTI Food stores + 10 + 11 6 Standard Metropolitan Statistical Area Furniture and houaehold (pop. 222,0981 ; Nueces2) appliance stores .. . . . + 10 + 11 2 Bulldlna permlta, 1-federal contract. S 2,S60,492 + 8 + 54 Gasoline and service stations. + 6 + 12 + 6 Bank dablts (thouaanda) .............S 3,237.780 + 11 + 11 + 19 + 41 + 6 General merchandise stores. Nonfarm employment (area) . 76,400 + 2 + 11 Liquor stores ....... .... .. . . + 18 + 12 Manufacturlntr employment (area) . S,S20 -1 + 2 Lumber, building material, and hardware stores. + 29 + 25 -a Nurseriea ............ ... . + 41 -40 Pereent unemployed (area) . S.9 -19 -11 BISHOP (pop. 3,825r) Poetat recelpta• . . . . . . . . . . . . .. S 8, 798 + 71 + 26 Office, store, and school supply dealers + 6 + 20 + 8 Postal receipts• ...S 3,267,027 + + 9 Bolldlntr permlta, 1-federal contract. S 81,000 +288 Bank debits (thouaanda) . . . . . . . .$ 1,912 + 8 + 13 Building permits, less federal contracta $13,978,S26 + 4 -20 End-of-month depoalts (thousanda) i . .S 2,069 -4 -6 Bank debits (thousands) . .S 4,950,16S + 16 +H Annual rate of depoalt turnover. . . . . . 10.9 + 14 + 21 End-of-month deposits (thousands) i. S 1,370,440 + + 1 CORPUS CHRISTI {pop. 184,163r) Annual rate of deposit turnover. 48.6 + 16 + 82 Baal! aalea . . . . . . . . . . . . . . . . . . . + 12t + 27 + 18 Apparel atorea . . . . . . . . . . . . . . . . . . . . + 85t -8 -22 DENTON (pop. 26,844) Automotive atorea . . . . . . . . . . . -St + 88 + 84 Retail sales .... + 12t + 17 + 47 Droptor• . . . . . . . . . . . . . . . . . . . . . . . + St -8 + 1 Druptores .......... . + St 2 + 16 General merchandlae atorea. . . . + 41t + 80 -19 Postal receipts• . $ 44,448 + 2 -a Poata! receipta• ..... ..... ...........S 222,246 + 10 + 4 Building permits, Jess federal contracta S 698,994 + 2 -as Bolldlna permlta, leu federal contract. S 2, 762,582 + s + 68 Bank debits (thousands) . . .. .S 82,973 •• + 28 Bank deblta (thouaanda) ....... . . . . .. S 254,080 + 17 + 16 End-of-month deposita (thousands) i . .S 22,096 -6 -22 End-of-month depoalts (thousanda) i .S 155,042 + 2S + 82 Annual rate of deposit turnover . 17.4 -1 + 49 Annual rate of depoalt turnover. . . . 22.1 + 5 -8 Nonfarm placements 176 -18 + 4 ROBSTOWN (pop. 10,266) lletall aales ENNIS (pop. 10,250r) Retail sales Automotive atorea ... .... ... ..... .• -st + 7 + 9 Apparel stores + S5t + 9 PoataJ recelpta• ................... ..s 7,902 -12 + 8 -81 Postal receipts• .. .S 13.219 + 9 + 20 Balldiq permlta, leu federal contract. S 66,960 -16 + 46 Buildintr permits, less federal contract. S 69,825 + -81 But deblta (thouaanda) ........ . .. . . S 8,976 •• •• Bank debits (thousands) . .S 7,109 + 11 + 12End-of-month depoalta (thousanda) i . .S 9,022 6 + 6 End-of-month deposita (thousands) i . .S 7,275 -8 + 2Annaal rate of depoalt turnover..... 11.6 + 6 -8 Annual rate of deposit turnover.. . 11.6 + 14 + 7 CORSICANA (pop. 20,344) RetUJ ..i.. ........................ . + 12t + 18 -10 GARLAND (pop. 50,622r) 1-ber, bulldlnir material, Retail sales + 12t + 20 + 8 and hardware atorea.. . .. . .... .. . + 7t + 86 + 2 Apparel stores + S5t + 23 -21 -St + 21 + 11 POl&al recelpta• ... .... . ... .... . .... .S 22,266 -22 + 6 Automotive atores Bolldiq pennlta, 1-federal contracta S 91,408 + 17 -51 Postal receipts• S 58,053 + 22 + 19 .. Ball deblta (tho-da) .. . ..........• 20,644 + 4 + 18 Building permits, leas federal contracts S 2,108,933 +136 End-of-month ~Its (tbouaandaH..S 21,604 •• + 2 Bank debits (thouaanda) . . .. .$ 89,010 + 12 + 11 Annul rate of a-it turnover..... . 11.4 + 8 + lS End-of-month deposits (thousands) i . .$ 17,958 -5 •• Nonfann Plaeementa .... . . . . . .. . ... . 192 -2 + 10 Annual rate of deposit turnover. 25.4 + 20 + 8 Local Business Conditions City and item Mar 1966 Percent change Mar 1966 Mar 1965 from from Feb 1965 Mar 1964 Local Business Conditions City and item Mar 1965 Percent chanre Mar 1965 Mar 1965 from from Feb 1966 Mar 1984 GRAND PRAIRIE (pop. 40,150r) Postal receipts• $ 31.038 Duildinir permits, Jess federal contract& $ 744,572 Bank debits (thousands) . . . $ 21,478 End-of-month deposits (thousands) i . .$ 11,109 Annual rate of deposit turnover . 23.5 -1 -50 + 18 + 2 + 20 + 4 + 11 + 11 -7 + 18 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 25,888 87,460 11,688 10,068 14.0 98 + 22 +192 + 12 + l + 16 + 62 -8 +II + 9 +11 + 9 +n IRVING (pop. 60,136r) Postal receipts• .$ 56,699 Dulldinir permits, Jess federal contracts $ 2,740,923 Bank debits (thousands) . .$ 40,729 End-of-month deposits (thousands) i . .$ 17,991 Annual rate of depo1it turnover. 27.3 + 25 + 90 + 6 + 1 + 11 + 63 -66 + 17 + 2 + 12 DEER PARK: see HOUSTON SMSA DEL RIO (pop. 18,612) Retail sales Automotive stores .. ..... . ... . .... . Lumber, building material, and hardware stores.. ..... ... . . . St + 7t + 87 + 11 + 15 + 85 JUSTIN (pop. 622) Postal receipts• . S Buildinir permits, Jess federal contracts $ Bank debits (thousands) . . .. . .. $ End-of-month deposits (thousands)t .. $ 890 1,800 970 876 + 68 -96 + 15 + 9 + 13 -87 -34 + 5 Postal receipts• . . .$ Building permits, less federal contracts $ Bank debits (thousands) .. . . .. . ... .. .$ End-of-month deposits (thousands)t .. $ Annual rate of deposit turnover. 16,174 87,111 14,468 15,400 11.4 + 10 + 42 + 21 + 8 + 19 + 9 -88 + 7 + I + • Annual rate of deposit turnover .. ... 13.9 + 11 -34 DENISON (pop. 25,766r) McKINNEY (pop. 13,763) Retail sales Food 1tore1 ........ .. . . ... . . Po1tal receipts• . . . . . . . . . . . $ Buildlnir permits, Jess federal contract& S Bank deblto (thousands) . . ....$ End-of-month deposits (thousands) i . .$ Annual rate of deposit turnover. + 14t 14,098 63,476 11,598 11,219 12.8 + 9 + 13 -SS + 4 + 6 + 2 -4 + 7 -59 + 5 + 12 -2 Retail sales Ai-parel stores Automotive stores Postal receipts• ... . $ Bank debits (thousands) . . ..... $ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover. Nonfarm placements . . . .. .... . . . . + 86t -St 22,643 18,087 15,800 14.l 204 + 16 + 24 + 2 + 8 + 6 + 6 + 61 -17 + 88 -8.. + 5 -2 -10 Nonfarm placements .. ... .. ... .. ... . 185 + 80 + 83 DENTON: see DALLAS SMSA MESQUITE (pop. 27,526) Retail aalea Eatinir and drinklnir places . + 9t + 12 -15 DONNA (pop. 7,522) Postal receipts• ...... ... .. .. . .. $ 4,048 - 1 + 5 Postal receipts• .......$ Bulldinir permits, Jess federal contracts $ 17,907 634,612 + 13 +110 + 21 -2 Building permits, less federal contracts $ Bank debits (thousands) . . ...$ 9,776 2,429 -80 + 9 -77 7 Bank debits (thousands) . . ....$ End-of-month deposits (thousands) i . .$ Annual rate of deposit turnover . MIDLOTHIAN (pop. 1,521) 11,025 6,627 19.8 + 26 -2 + 26 + 23 -12 + 29 End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover . DUMAS (pop. 10,547r) Postal receipts• .. $ S,578 8.0 7,789 -8 + 10 + 8 1• + 8 Bulldinir permits, Jess federal contracts $ Bank debit• (thousands) . . .... . ..... .$ End-of-month deposits (thousands) i . .$ Annual rate of deposit turnover . 68,600 l,027 1,435 8.4 +660 + s -4 + 12 +686 + 4 + 6 6 Building permits, less federal contracts $ Bank debits (thousands) . . . $ End-of-month deposits (thousands) i . .$ Annual rate of deposit turnover..... . 247,170 18,825 10,483 16.4 -14 + 20 -6 + 28 -49 +70 + 8 + 5' PILOT POINT (pop. 1,254) EAGLE PASS (pop. 12,094) Buildinir permits, less federal contracts $ 7,000 Bank debits (thousands) ... .. . . ..... .$ l,126 End-of-month deposits (thousands) t . $ 1,624 Annual rate of deposit turnover . 8.S PLANO (pop. 10,102r) Po1tal receipto• ...... . . . ....... . . , ..S 7,810 + + 9•• + 12 •• -80 + 6 -7 + 11 + 22 Retail sales Gasoline and service stations...... . Postal receipts• . .......... . .. S Building permits, less federal contracts $ Bank debits (thousands) . ............$ End-of-month deposits (thousands) i . .$ Annual rate of deposit turnover. + St 9,286 87,089 6,461 4,621 16.9 + 14 + 6 -44 + 8 + 1 + 6 -18 + 16 -78 + 18 + I +u nuildinir permits, leas federal contracts $ Bank debito (thousands) . . ........$ End-of-month deposits (thousands) i . $ An11ual rate of deposit turnover . RICHARDSON (pop. 34,390r) 446,422 4,807 2,803 18.3 Postal receipts• ........$ 47,499 Bulldlnir permits, less federal contracts $ 1,166,877 +us •• -1 + 12 + 8 + 70 + 44 -' + 6 -10 + 21 -33 EDINBURG (pop. 18,706) Postal receipts• .S Buildinir permits, less federal contracts $ Bank debits (thousands) . . $ End-of-month deposits (thousands) i . .$ Annual rate of deposit turnover. Nonfarm placements .... .. . . . . ... . 14,124 144,290 17,611 11,666 18.4 171 + 18 + 71 + 10 + + 4 + 9 + 8 -8 + 29 + 11 + 11 -54 Bank debits (thousands) . . .. . ........$ 26,624 End-of-month deposit& (thousands) t . $ 12,408 Annual rate of depo1it turnover . 24.5 SEAGOVILLE (pop. 3,745) Postal receipts• ....... .$ 3,794 Buildinir permito, less federal contracts $ 4,600 + 18 -1 + 21 -23 -74 + 25 + 21 -2 + 2 -91 EDNA (pop. 5,038) Postal receipts• . . . . $ 6,371 Building permits, Jess federal contracts $ 2,860 Bank debits (thousands) . .$ 6,268 End-of-month deposits (thousand•>* ·. $ 6,783 Annual rate of deposit turnover. . . . . . 9.1 -14 -88 + 1 6 + + II -98 + 18 + z + 10 Bank debits (thousands) .............$ 3,421 + 16 + 20 ENNIS: see DALLAS SMSA End-of-month deposits (thousand1)t .. $ 1,967 + 13 + 11 Annual rate of deposit turnover. . . . 22.2 + 12 + 13 EULESS: see FORT WORTH SMSA TEXAS BUSINESS REVIEW Percent change Percent chanire Local Business Conditions Local Business Conditions Mnr 1966 Mar 1965 Mar 1965 Mar 1965Mar from from Mar from from City and item 1966 Feb 1965 Mar 1964 City and item 1965 Feb 1965 Mar 1964 EL PASO EULESS (pop. 10,500r) Postal receipts• Standard Metropolitan Statistical Area s 6,859 + 18 + 18 Building permits, lesa federal contracts s 536.847 +889 -25 (pop. 339,2401; El Paso2) Bank debits (thousands) s 6.147 + 15 + 51 Building permits, lesa federal contracts $ 3,907,160 -9 -26 End-of-month deposits (thousands) i. .$ 2,318 -5 + 8 Bank deblta (thOU8&Dda) .............• 4,704,396 -6 + 10 Annual rate of deposit turnover . 31.1 + 18 + 45 Nonfarm employment (area) . . . . . . . . . 94,000 •• + 2 Manufacturing employment (area) . 16,420 + + 5 GRAPEVINE (pop. 4,659r) Percent unemployed (area) . 6.0 -9 -12 Postal receipts• ... ....S 5,068 + 1 + 27 Building permits, lesa federal contracts $ 211,060 +724 +116 EL PASO {pop. 276,687) Bank debits (thou.sandal . . . . S 4,172 + lS + 20 Retail aalee ················· + 12t + + 7 End-of-month deposits (thousands) i . .$ 3,486 •• •• Apparel ltoree ......... . . . ... . . .. . + 35t 7 -21 + Annual rate of deposit turnover. 14.4 + 16 + 14 Automotive 1toree .......... .. .. . .. -St + 2 + 21 Druptorn ............. . . .' . . .... + St 4 4 NORTH RICHLAND HILLS (pop. 8,662) Food 1toree .... ....". .............. + 14t + 6 + 8 Building permits, less federal contract& $ 245.451 -46 -41 General merchandiae atores. + 4lt + 20 -8 Bank debits (thousands) .. .. .S 7,384 + 10 + 29 POltal receipta• .......... . .. . ... ....$ 399,876 + 17 + 14 End-of-month deposits (thousands) i . .$ 4,705 + 18 + 22 Building permits, lesa federal contracts $ 3,905,860 -8 -26 Annual rate of deposit turnover . . . . . 20.0 + 6 + 5 Bank debits (thousands) . $ 438,232 + 16 + 14 WHITE SETTLEMENT (pop. 11,513) End-of-month deposits (thousands)t. $ 198,128 -8 + 2 Building permits, less federal contracts $ 147,005 1 + Annual rate of depoait turnover...... 25.4 + 18 + 6 Bank debits (thousands) . . $ 1.588 + 17 End-of-month deposits (thousands>i . . $ l,138 + 10 Annual rate of deposit turnover . 17.6 FORT STOCKTON {pop. 6,373) + 12 POltal receipta• ................ .....$ 6,419 4 + 29 + FREDERICKSBURG (pop. 4,629) Buildlnir permits, lesa federal contracts $ 68,000 -28 + 25 Retail salesBank deblta ( thouaanda) . $ 5,838 6 + + 14 Drugstores St 2 + 10 + + End-of-month depoaita (thousands) i . .$ 5,738 + 8 + 12 General merchandise stores . + 4lt + 32 + eAnnual rate of depoait turnover ..... 12.4 + 6 + 7 Postal receipts• ...... . . . ..$ 7,082 + 9 + 7 Building permits, lesa federal contract& S 115,780 + 54 +159 FORT WORTH Bank debits (thousands) . . ....S 9,208 -1 + 4 Standard Metropolitan Statistical Area End-of-month deposits (thousand•) i . .$ 8,488 •• (Pop. 603,4471; Johnson and Tarrant2} Annual rate of deposit turnover . 13.1 + s + '8 Bulldlnir permits, lesa federal contracts $ 9,659,571 + 15 + 1 FRIONA (pop. 3,049r) + Bank deblta (thouaanda) . .... . ...... .• 12,673,128 5 + 18 Building permits, lesa federal contracts S 62,300 + 77 -22 Nonfarm employment (area) . 234,200 •• + 8 Bank debits (thousands) S 5,956 -20 •• Manufacturing employment (area). 60,876 •• + 6 End-of-month depoaits (thousands) i . .S 5,803 -2 6 Percent unemployed (area) .. 8.7 -5 8 Annual rate of deposit turnover . 12.2 -15 + 2 GA.INESVILLE (pop. 13,083) ARLINGTON (pop. 53,024r) Retail aaln . . ........... ............ + 12t + 2 + 2 Retail sales Apparel atoree ... ... . . . . . . . . . .. . . . + 85t + 20 -28 Drugstores + St -6 + 9 Lamber, bulldintr material, Furniture and household appliance stores... .. . . + st + 51 + 58 and hardware 1tore1 ........... + 7t + 41 + 7 Postal receipts• . . S 14,175 -10 -14 POltal recelpta• . . . . .. . . . . . . . . . . . . . . .$ 82,938 8 + 14 + Building permits, lesa federal contracta S 381.475 +104 +cas Building permita, lesa federal contract& s 2,340,293 + 54 -4 GALVESTON-TEXAS CITY CLEBURNE (pop. 15,381) Standard Metropolitan Statistical Area POltal recelpta• . . . . . . . . . . $ 15,857 -14 -2 (pop. 149,4051; Galveston2} Bulldlnir permits, leu federal contracts S 84,075 -51 -59 Building permits, less federal contracta S 997,867 -88 -14 Bank debita (thousanda) .. ..... ......$ 13,641 + 11 + 8 Bank debits (thousanda) ... . .. . .. . ...S 1,897,620 + 5 End-of-month depoaits (thousanda)i.. $ 12,605 •• + 1 ++ ' 1 Nonfarm employment (area) . 55,700 + 2 Annual rate of depoalt turnover..... . 18.1 + 11 + 7 Manufacturing employment (area) . 10,470 + 8 -1 Percent unemployed (area) . 4.6 -22 -1' FORT WORTH (pop. 356,268) GALVESTON (pop. 67,175) Retail aalee .. .. . ..... ... .... . ..... . . + 18 + 19 2 + Retail aales ... + 12t + 14 + I Apparel atoree ....... . . . . . . .... . . . + 28 7 -10 + Apparel stores + sst + 14 -11 Automotive atorea ..... .. ...... . .•. + 9 + 83 + 25 Automotive 1tore:a -St + 10 + 12 Druptoree ....... . .. . + 4 -8 + 4 Food stores + 14t + 12 + 16 ········ ··············· Eating and drinking placee . . . . .•.. + 14 + 11 + 8 Furniture and household Jl1oriata . 7 -6 appliance atores ··· ······· ······ + Gt + 88 + 18 Food atorn ......... . .. .... . . .... . 2 -18 + 18 + Postal receipts• $ 106.194 -14 -I Furniture and household Building permits, leu federal contract& s 460,902 + 58 -12 appliance ltoree ............. . . . + 11 + 11 1 Bank debits (thousands) . .. s 106.094 + 22 + 9 Guollne and aervice lltationa .. . ... . + 3 + 18 9 + End-of-month deposits (thousandsli . s 62,601 + + 8 General merchandiae atorea ... . . + 25 + 28 7 Annual rate of deposit turnover . 20.8 + 20 + 8 Lumber, building material, and hardware atorea. . . . . . . . . . . . . + 19 + 13 + 11 LA MARQUE (pop. 13,969) Pa.ta! recelpta• ... . . .... . . . .. . ......$ 919,169 5 + 3 Postal receipts• ..$ 11,242 + 16 + 17 + 239,720 -88 + 20 11,180 4 - Bvlldlng permita, lesa federal contract& S 3,432,647 -21 -14 Building permits. lesa federal contract& $ Bank deblta (thousands) . .. . .........S 1,003,365 + 21 + 16 Bank debits (thousands) . . S ­End.of-month depoaita (thousandali..S 412,604 •• -1 End-of-month deposits (thousanda>i . . $ 5,200 -20 -11' Aanual rate of deposit turnover. . . . . . 29.1 + 21 + 16 Annual rate of depoait turnover.. ... 23.0 + 10 ' KAY 1965 Percent change Percent chanae Local Business Conditions Local Business Conditions Mar 1965 Mar 1965 Mar 1965 Mar 1966 Mar from from Mar from from City and item 1965 Feb 1965 Mar 1964 City and item 1965 Feb 1965 Mar 1964 HALE CENTER (pop. 2,296r) TEXAS CITY (pop. 32,065) Postal receipts• . . . . . . . . . . . . . . . . . . . . $ 1,909 -11 Postal receipts• $ 29,385 + 17 + 16 + 1 Building permits, less federal contracts $ 30,264 + 93Building permits, less federal contracts $ 297,245 -64 + 8 Bank debits (thousands) . $ 2,618 -86Bank debits (thousands) . $ 30,954 + 13 + 20 End-of-month deposits (thousands) t .. $ 4,200 -10 -9End-of-month deposits (thousands) t $ 20,743 + 42 + 82 Annual rate of deposit turnover... Annual rate of deposit turnover 21.0 -2 + 5 7.1 -26 + ' HARLINGEN: see BROWNSVILLE-HARLINGEN-SANGARLAND: see DALLAS SMSA BENITO SMSA GATESVILLE (pop. 4,626) HENDERSON (pop. 9,666) Postal receipts• .. ... . . $ 4,662 -26 + 7 Postal receipts• . . . . . . . . . . . . . .$ 12,949 + 21 Bank debits (thousands) .$ 5,682 + s + 4 + 10 Building permits, less federal contracts $ 146,400 End-of-month deposits (thousands) t $ 6,606 + + 9 + 14 +288 10.6 4 Bank debits (thousands) .. . .... .. .. . . $ 8,752 + s Annual rate of deposit turnover . •• + ' End-of-month deposits (thousands) t .. $ 18,569 + + 8 Annual rate of deposit turnover. 5.7 GEORGETOWN (pop. 5,218) + ' •• Postal receipts• $ 6,258 -14 -s HEREFORD (pop. 9,584r) Building permits, less federal contracts $ 233,950 +672 Postal receipts• . . $ 12,919 + 7 + 22Bank debits (thousands) $ 4,902 + 7 Building permits, less federal contracts $ l,581,360 +487 +218End-of-month deposits (thousandsJi..$ 5,868 + 2 + 5 Bank debits (thousands) .... . . ... ... . $ 20,259 2 6Annual rate of deposit turnover. 10.1 + 7 6 End-of-month deposits (thousands)t. . $ 15,818 2 Annual rate of deposit turnover. . . . . . 15.2 + S GIDDINGS (pop. 2,821) Postal receipts• . .. $ 3,203 -23 -20 HOUSTON Buildinii: permits, less federal contracts $ 13,000 + 95 2 Standard Metropolitan Statistical Area Bank debits (thousands) ............ .$ 3,352 + 15 + 6 End-of-month deposits (thousands) t $ 4,266 + + 4 (pop. 1,373,8721; Harris2) Annual rate of deposit turnover . 9.5 + 14 + 8 Building permits, less federal contracts $31,377,202 + 9 Bank debits (thousands) ...... . .. . . . . $51,228,924 + + 9 GLADEWATER (pop. 5,742) Nonfarm employment (area)... 587,000 + + 2 Postal receipts• $ 7,278 -7 + 8 Manufacturing employment (area) . 104,800 •• + 9 Buildinii: permits, less federal contracts $ 30,550 +370 +398 Percent unemployed (area) . S.1 -11 -21 Bank debits (thousands) . $ 4,205 2 + 8 BAYTOWN (pop. 38,000r) End-of-month deposits (thousands) t. $ 4,603 + 2 + 24 + 11 Retail sales + 12t + 88 Annual rate of deposit turnover. 11.1 8 -10 Automotive stores -Sf + 46 + 11 Nonfarm employment (area) .... . . .. . 30,850 + 1 + 7 Food stores + 14f + 16 + 11 Manufacturinii: employment (area) 7,230 + 2 + 21 Postal receipts* .$ 34,158 •• + 2 Percent unemployed (area) . 3.7 + 8 -16 Building permits, less federal contracts $ 297,060 -1 -60 Bank debits (thousands) .. . . ....... ..$ 87.210 + 15 + 18 GOLDTHWAITE (pop. 1,383) End-of-month deposits (thousands) t .. $ 27,015 -6 -18 Postal receipts• .. ...$ 2,217 + 2 -14 Annual rate of deposit turnover. 16.1 + 19 + 28 Bank debits (thousands) . . . . . . . . ....$ 3,445 + 24 -29 End-of-month deposits (thousands) t .$ 5,647 + 4 + 6 BELLAIRE (pop. 21,182r) Annual rate of deposit turnover. 7.4 + 28 -81 Postal receipts• ...$ 42.677 -a -g Iluilding permits, less federal contracts $ 67,474 -60 + 1& GRAHAM (pop. 8,505) Bank debits (thousands) . . $ 21,245 + 10 + 19 Retail sales End-of-month deposits (thousands) t .. $ 13,425 •• + 18 Apparel stores - + 35t + 15 17 Annual rate of deposit turnover.. . .. . 19.0 + 12 Postal receipts• . . . . . . . . . . . . . . . . . $ 9,212 + 2 + 16 + ' Bulldinii: permits, less federal contracts $ 20,800 +120 + 61 DEER PARK (pop. 4,865) Bank debits (thousands) . . . . . . . . $ 9,780 + 8 -27 + 9 Postal receipts• . . . .. ..... .... ...... . S 5,295 -24 End-of-month deposits (thousands)t . $ 9,821 + -6 Building permits, less federal contracts $ 280,647 •• + 18 Annual rate of dep,..sit turnover . 12.0 + 10 + 14 Bank debits (thousands) . . . $ 5,155 -26 + 45 End-of-month deposits (thousands) t .. $ 2,227 -21 -& GRANBURY (pop. 2,227) Annual rate of deposit turnover. 24.5 -9 + 88 Postal receipts• $ 3,508 -18 -24 Bank debits (thousands) . . . ....... .$ 1,749 + 11 + 14 HUMBLE (pop. 1,711) End-of-month deposits (thousands) t. $ 2.287 •• + 9 Postal receipts• . . . . . . . $ 4,646 + 16 + 89 Annual rate of deposit turnover. 9.2 + 12 + Building permits, less federal contracts $ 49,000 -84 Bank debits (thousands) . . $ 3,787 + 2 -9 GRAND PRAIRIE: see DALLAS SMSA + 15 End-of-month deposits (thousands) t .. $ 8,755 + 2 Annual rate of deposit turnover. 12.2 + -19 GRAPEVINE: see FORT WORTH SMSA KATY (pop. 1,569) GREENVILLE (pop. 22,134r) Postal receipts• . . . . . . . . . . . . $ 3,263 + 42 + 19 Retail sales . . . . . . . Building permits, less federal contracts $ 58,800 + 76 + 26 + 12t + 18 + 23 Automotive atorea Bnnk debits (thousands) . . ... . $ 2,544 •• + 86 -St + 8 + 32 + 15 Druptores End-of-month deposits (thousands) t .. $ 2,966 6 + 3t + 2 + 9 Postal receipts• $ 33.490 + 25 + 24 Annual rate of deposit turnover.. ... . 10.0 + 6 + 16 Buildinii: permits, I~ fed~~.j ~~ntr~~ $ 494,850 +107 +208 LA PORTE (pop. 7,250r) Bank debits (thousands) . . . . . . . $ 18,263 + 12 + 13 Building permits, less federal contract& $ 185,000 +118 -4 End-of-month deposits (thousands)t . . $ -16 14,669 + 5 + 5 Bank debits (thousands) .... . ........$ 8,966 4 Annual rate of deposit turnover . 15.3 + 10 1 8 + 9 End-of-month deposits (thousands) t .. $ 2,664 Nonfarm placements .. .. .... ..... . 91 2 -9 -14 Annual rate of deposit turnover..... . 17.8 2 TEXAS BUSINESS REVIEW Percent change Percent chance Loeal Business Conditions Local Business Conditions Mar 1965 Mar 1965 Mar 1965 Mar 1965 Mar from from Mar from from City and Item 1965 Feb 1965 Mar 1964 City and item 1965 Feb 1965 Mar 1964 HOUSTON (pop. 938,219) JUSTIN: see DALLAS SMSA Retail .... . . . . . . . . . . . . . .. . . . . . . + 18 + 12 + 6 Apparel stores . . . . . . . . . . . . . . . . . . . . + 28 + 7 -5 Automotive atores . . . . . . . . . . . . . . . . . + 18 + 21 + 26 KATY: see HOUSTON SMSA Drugstores . . . . . . . . . . . . . . . . . . . . . . . + 8 + 2 + 5 Eatlnc and drlnklnc places. . . . . . . . + 9 + 7 + a KILGORE (pop. 10,092) F!orista ..... ..... ............. . 2 s Postal receipts• ... $ 15,988 + 27 + 17 Food atores ......... .. .. . . . . + 10 + 9 + 3 Building permits, less federal contracta S 197,600 +316 +316Furniture and ho1uehold Bank debits (thousands) .. .. .. . . . ....S 12,165 + 1 + 6appllance stores . .. .... . . + 11 + 7 + 7 End-of-month deposits (thousands) t .. $ 13,313 -1 + z General merchandiae stores. + 24 + 20 6 Annual rate of deposit turnover .. . 10.9 •• + zLiqvor atores . . .. .. ...... . + 11 + 7 + 10 Nonfarm employment (area) . 80,S50 + + 7 Lamber, bulldlnc material, Manufacturing employment (area) . 7,280 + 2 + 21 and hardware atorea. .. . .. + 27 + 23 + 17 Percent unemployed (area) 8.7 + 8 -16 Postal recelpta• . . . . . . . . . . . .......S 2,848,270 + 5 + 6 Bulldlnc permlta, leaa federal contracta $28,268,828 + 7 -11 KILLEEN (pop. 23,377) Bank deblta (thouaanda)..... . .$ 4,347,828 + 19 + 13 Postal receipts• $ 41,807 -18 End-of-month depoalta (thouaand•li.. S 1,651,886 + 8 + 9 + a Annual rate of depoalt turnover. . . . . . 82.0 + 18 + 5 + 88 Building permits, less federal contracta $ l,008.010 + 2 Bank debits (thousands) . .$ 22,038 + 18 + 17 End-of-month deposits (thousands) t. $ 16,624 + 26 + 24 PASADENA (pop. 58,737) Annual rate of deposit turnover. 18.8 + 9 + s a.tall .... . . . . . . . . . . . . . . . . . . . . . + 12t + 10 + 4 Apparel stores . . . . . . . . . . . . . . . . . . . . + 85t + 18 3 IONGSLAND (pop. 150) Automotive atorea . . . . . . . . . . . -St + 11 + 8 Postal receipts• .. .... . . S 1,878 + 23 POltal recelpta• . . . . . . . . . . . . . . . . . . .S 54,675 + 9 + 6 + 65 Bank debits (thousands) . . ... . ... . . $ 1,125 Bulldlnc permlta, leaa federal contracta S 1,316,650 -57 + 58 + 18 + 61 End-of-month deposits (thousands) i . .$ 678 Bank deblta (thouaanda) ... .$ 65,734 + 11 + 27 + 9 + 12 Annual rate of deposit turnover. 20.7 End-of-month depoalta (thouaanda>i . S 32,871 + 4 + 9 + 14 + 29 Annual rate of deposit turnover. . . . . . 24.5 + 11 + 18 KINGSVILLE (pop. 25,297) SOUTH HOUSTON (pop. 7,253) Retail sales Automotive stores St + 86 + 48 Postal recelpta• . . . $ 9,177 + 8 + 28 ­ Drugstores 9 + 19 Bulldlnc permlta, leaa federal contracta S 142,230 +160 + 71 + St + Postal receipts• .. . $ 18,995 Bank deblta (thouaanda) . . . . . . . . . S 7,600 + 16 + 28 + 5 + 14 Building permits, less federal contracta S 236,816 + 9 +148 End-of-month depoelta (thouaandsli S 5,659 -8 + 15 Bank debits (thousands) .$ 12.843 + 19 + 9 Annual rate of deposit turnover. 16.1 + 14 + fi End-of-month deposits (thousands) i . .$ 16,039 + 4 + 10 Annual rate of deposit turnover 9.8 + 17 -1 TOMBALL (pop. 2,025r) Building permlta, leaa federal contracta S 0 KIRBYVILLE (pop. 2,021r) Bank deblta (thouaands) . . . ...$ 8,299 + 17 + 3 End-of-month deposita (thousands) t .. $ 5,886 -11 + 7 Postal receipts• .. .... ..... .. .. .. $ 4.108 •• + 5 Bank debits (thousands) $ 2,241 + 18 + 8 Annual rate of depoait turnover. 16.9 + 25 End-of-month deposits (thousands) J. .$ 8,609 + 2 + 5 Annual rate of deposit turnover. . . . .. 7.8 + 18 + a HUMBLE: see HOUSTON SMSA HUNTSVILLE (pop. 11,999) LA FERIA: see BROWNSVILLE-HARLINGEN-SAN Poetal recelpta• .... ...... ...... .....S 17,048 •• -13 BENITO SMSA Building permlta, leaa federal contracta S 88,200 + 96 -37 Bank deblta (thouaanda) . . . . . . . . . S 8,446 + 4 5 LA MARQUE: see GALVESTON-TEXAS CITY SMSA End-of-month depoolts (thousandali.. S 9,702 6 + 2 Annual rate of depoalt turnover..... . 10.1 + 6 6 LAMESA (pop. 12,438) Retail sales .. ... ....... + 12t 9 -81 IOWA PARK: see WICHITA FALLS SMSA Automotive 1tore• ··· ····· · ·· St 7 -15 Drugstores + St 4 -• IRVING: see DALLAS SMSA Lumber, building material, and hardware stores. + 7t -86 -57 JACKSONVILLE (pop. 10,509r) Postal receipts• . . ...$ 12.591 + 8 + 9 Poatal receipts• ... .... ........ ..... .S 18,486 -11 -s Building permits, less federal contracta $ 62,700 -19 -79 Building permlta, leaa federal contracta S 124,000 +s2s •• (thousands) $ 15,323 -10 -12 Bank debita (thouaands) .... .. ... .. . . S 13,269 •• + 4 End-of-month deposits (thousands>i . .$ 16,270 -2 -15 End-of-month depoaits (thousanda)t..$ 10,962 + 5 + 18 Annual rate of deposit turnover. . 11.2 -5 + I Annual rate of depoait turnover. .. .. . 14.9 + 1 8 Nonfarm placements 61 -21 -80 Bank debits JASPER (pop. 5,120r) LAMPASAS (pop. 5,670r) Retail aalea ....... ........ ......... . 4 + 12t + lS + Postal receipts• .. .$ 6,513 •• -2 Automotive atores .. . . ............ . -St + 25 + 6 75,350 6 -26 Building permits, less federal contracta $ ­ General merchandiae atorea...... .. . + 4lt + 39 -21 18 7 Bank debits (thousands) . . $ 6,963 + Poatat receipt.a• .......... . .... . .. ...$ 8,150 + + 7 7 + 2 End-of-month deposits (thousands) i . .$ 6,471 + Buildlq permlta, leaa federal contracta S 82,700 + 19 -61 12 8 Annual rate of deposit turnover..... . 13.4 + Bank deblta (thouaanda) .... . .. ..... . S 11,209 + 5 + 12 Bad-of-month depoaita (thousanda)t . . $ S,596 + 6 -4 + LA PORTE: see HOUSTON SMSA Aalllllll rate of depoeit turnover.. . .. . 16.0 + 1 14 143 llAY 1965 Percent change Percent chanae Local Business Conditions Local Business Conditions Mar 1965 Mar 1965 Mar 1965 Mar 1965 Mar from from Mar from from City and item 1965 Feb 1965 Mar 1964 City and item 1965 Feb 1965 Mar 1964 LUBBOCK Standard Metropolitan Statistical Area Standard Metropolitan Statistical Area (pop. 69,0441; Webb2) (pop. 174,8441 ; Lubbock2) Building permits, less federal contracts $ 321,975 -83 + 8 Building permits, less federal contracts $ 4,76S,217 + 12 •• Bank debits (thoUllllDds) .. . . $ 463,104 -8 + 9 Bank debits (thousands) . ... .. .... . ..$ 8,275,784 + + 8 Nonfarm employment (area) . 19,750 -1 + 5 Nonfarm employment (area) . 5S,200 •• + 2 Manufacturing employment (area) 1,840 •• + 2 Manufacturing employment (area) . 6,590 •• + 11 Percent unemployed (area) . 11.6 -10 4 Percent unemployed (area) . 8.9 7 + a LAREDO (pop. 60,678) LUBBOCK (pop. 155,200r) Retail sales ..... ........ ....... ... . + 12t + 2 a LAREDO Retail salea Apparel stores Apparel storea + 85t + l~ -10 + 86t + -29 Automotive stores Postal receipts• .....$ 45,315 + 6 + 10 -St 4 + 5 Drugstores ...................... . + St 4 + 2 Building permits, less federal contracts $ 321,975 -33 + 3 Florists Bank debits (thousands) . .$ 41,008 + 14 + 18 + + 1 Food stores + l4t + 4 End-of-month deposits (thousands) i. $ 27,678 •• + 8 -10 Furniture and householdAnnual rate of deposit turnover. 17.8 + 15 + 11 appliance stores Nonfarm placements 419 -s -26 + St + 25 + 8 General merchandise stores . + 4lt + 24 -11 Lumber, building material,. LEVELLAND (pop. 12,117r) and hardware 7t 7 ­ Retail sales stores + -88 Postal receipts• . $ 222,111 + 2 Automotive stores -St + 11 -29 + ' Building permits, less federal contracts $ 4,747,217 + 14 + 2 Postal receipts• . .. .. .. S 11,592 + 27 + 11 Bank debits (thousands) ..... ........S 262,774 + 8 + 8 Building permits, less federal contracts $ 142,095 -19 -42 Bank debits (thousands) .S 16,490 -12 + 21 End-of-month d~posits (thousands) i . .$ 140,612 + 2 + 2 End-of-month deposits (thousands>i . . $ 11,905 -26 -6 Annual rate of deposit turnover . 22.6 + 10 + Annual rate of deposit turnover. 14.2 -9 + 13 SLATON (pop. 6,568) Postal receipts• $ 8,S7S -4 + 8 LIBERTY (pop. 6,127) Building permits, less federal contracts $ 21,000 -47 Postal receipts• $ S,S42 + 21 + 28 Bank debits (thousands) . . $ 4,166 5 + 2 Building permits, leas federal contracta $ 93,710 +160 -7 End-of-month deposits (thousands) i . .$ 4,095 8 -8 Bank debits (thousands) . $ 9,832 + 6 Annual rate of deposit turnover . 12.0 + + 12 End-of-month deposits (thousands) i . .S 9,826 •• -24 Annual rate of deposit turnover . 11.4 + s LUFKIN (pop. 17,641) Postal receipts• . . $ .29,458 + 8 •• LITTLEFIELD (pop. 7,236) Building permits, less federal contracts $ 225,6S5 -48 -64 Retail salea Bank debits (thousands) . .. $ 42,674 + 29 + 22 Automotive stores -St -18 -2 End-of-month deposits (thousands) t . . $ 85,366 + 24 + 28 Gasoline and service stations + St + 1 -lS Annual rate of deposit turnover. 16.0 + 21 + 8 Postal receipts• ..$ 6,728 -16 -17 Nonfarm placements ............. . 44 -27 -1' Building permits, less federal contracts $ 73,000 +140 -75 McALLEN (pop. 32,728) Retail sales LLANO (pop. 2,656) + 12t + 11 + 10 Apparel stores + 35t + 80 + 8Postal receipts• . . . S 8,294 + 15 -2 Automotive stores .... .. .. ... . -St + l + 6Building permits, less federal contracts $ 16,120 + 26 +421 Food stores + 14t + 6 + • Bank debits (thousands) $ 3,16S + 6 + 4 Furniture and household End-of-month deposits (thousands) i. $ 4,227 •• + 10 appliance stores + 6t + 29 + 58Annual rate of deposit turnover . 9.0 + 7 -8 Gasoline and service stations . + St + lS + 7 LOCKHART (pop. 6,084) Postal receipts• ........ .......... . $ 37,277 + 2 + 11 Building permits, less federal contracts $ 275,070 + 8 -27Retail Salee Bank debits (thousands) .............$ SS,818 + 14 + 7 Automotive stores -St + 44 + 8S End-of-month deposits (thousands>: .. $ 22,441 + 2 Postal receipts• $ 4,952 + 3 ­ + 1 Annual rate of deposit turnover. 21.0 + 15 + 12 ' Building permits, leas federal contracts $ lS,SOO -26 +154 Nonfa rm placements .. .. . . .. .. . 817 + 8 aBank debits (thousands) $ 5,529 + 14 + 15 End-of-month deposits (thousands) i. $ 5,395 Nonfarm employment (area) .. . 43,650 + + 2 -4 -1 Manufacturing employment (area) . 5,250 -8 Annual rate of deposit turnover . 12.0 + 16 + 18 + Percent unemployed (area) . 7.6 -21 LONGVIEW (pop. 40,050) McCAMEY (pop. 3,350r) Retail sales + 12t + 22 + l Postal receipts• . . . . . . . . . . . . . . . . .. $ 3,859 + 24 + 1' Apparel storea + 35t + 13 + 4 Bank debits (thousands) . . . $ 1,873 + 17 + 6 Automotive 1tore1 St + 29 + 3 End-of-month deposits (thousands) i . .$ 1,657 -6 a Drugatorea . . . . . . . . ... + 3t -7 + 14 Annual rate of deposit turnover . 18.l + 21 + Lumber. building material, and hardware atorea. + 7t + 10 _ 10 McGREGOR: see WACO SMSA Postal receipts• . . . . . . . . . . . .... $ 56,489 _ 2 _ 12 Building permits, less federal contracts S 1,271,500 -51 + llS McKINNEY: see DALLAS SMSA Bank debits (thousands) . . . . . . . . . . $ 66,427 + 20 + 14 MARSHALL (pop. 25, 715r) End-of-month deposits (thousands) i . .$ 42,S46 + 3 + 6 Retail sales ..... ..... .. . . .......... . + 12t + 7 -1' Annual rate of deposit turnover . lS.9 + 17 + 7 Apparel stores ..... .... . + 85t + 26 -81 Nonfarm employment (area) . . . . . . . . . 30,850 + + 7 Postal receipts• ..$ 28,S97 -4 + 1 Manufacturing employment (area) . 7,230 + 2 + 21 Building permits, less federal contracta $ 210,262 + 81 +198 Percent unemployed (area) . . 3.7 + 8 + 15 16 Bank debits (thousands) . .$ 19,961 + 18 End-of-month deposits (thousands) i . .$ 22,982 -2 -l LOS FRESNOS: see BROWNSVILLE-HARLINGEN. Annual rate of deposit turnover... .. . 10.4 + 18 +18 SAN BENITO SMSA -18 Nonfarm placements ..... . . ..... . . . . 183 -17 144 TEXAS BUSINESS REVIEW Percent change Percent chanse Local Business Conditions Local Business Conditions Mar 1965 Mar 1965 Mar 1965 Mar 1965Mar from from Mar from from City and item 1965 Feb 1965 Mar 1964 City and item 1965 Feb 1965 Mar 1964 MERCEDES (pop. 10,943) NACOGDOCHES (pop. 15,450r) Postal receipts• ...... . ...... ... . . . . s 6,118 + 2 •• Retail sales Buildlns permits, lea federal contracts S 24,213 -31 -71 Apparel stores + 85t + 20 -11 Bank debits (thousands). . . $ 6,846 + 7 + 12 Postal receipts• s 24,504 + 10 + 20 End-of-month deposits (thousands!*.. $ 3,680 •• -2 Building permits, 1.,.. federal contracts $ 158,991 -14 - Annual rate of deposit turnover...... 20.7 + 10 + lS Bank debits (thousands) . . . . .. . . . s 21,088 -8 • End-of-month deposits (thousanda>i .. $ 20,032 •• + I MESQUITE: see DALLAS SMSA Annual rate of deposit turnover. 12.6 -8 -I Nonfarm placements 94 18 ····· ·· ··· + -26 MEXIA (pop. 7,62lr) Postal receipts• .....................S 6,568 + 16 + 10 NEDERLAND: see BEAUMONT-PORT ARTHUR­ Buildlns permits, lea federal contracts $ 168,500 ORANGE SMSA Bank debits (thousands) ............ .S 4,773 + 5 + End-of-month deposits (thousands) i . .$ 6,069 + 2 + 1 NEW BRAUNFELS (pop. 15,631) Annual rate of deposit turnover..... . 11.4 + 7 + 7 Retail sales Automotive stores . St + 19 + 20 MIDLAND Postal receipts• ..$ 18,829 -10 -17 Standard Metropolitan Statistical Area Building permits, less federal contracts $ 486,866 +868 + 9 (pop. 66,8901; Midland2) Bank debits (thousands) . $ 18,175 + 9 + a Buildin&' permits, less federal contracts $ 1,009,040 + 42 + 69 End-of-month deposits (thouaands) t .. S 12,687 •• + ' Bank debits (thousands) ... . .$ 1,817,892 + + 11 Annual rate of deposit turnover . 12.6 + 9 2 Nonfarm employment (area) . 55,900 •• •• Manufacturins employment (area). 4,160 •• + 1 NORTH RICHLAND HILLS: see FORT WORTH SMSA Percent unemployed (area) . 3.5 -5 + 6 ODESSA MIDLAND (pop. 62,625) Retail sales Standard Metropolitan Statistical Area Druptores . . . + St -1 + 4 (pop. 86,1531; Ector2) Building permits, leas federal contracts $ 1,614,681 + 186 +IS! Postal receipts . . . . . . . . . . . . . . . ..$ 108,747 + 4 + 6 Bank debits (thouaands). . ...$ l,121,484 + 2 + 17Builclln&' permits, less federal contracts $ 1,009,040 + 42 + 69 Nonfarm employment (area) . 55,900 •• •• Bank debits (thouaands) . .$ 148,657 + 17 + 9 Manufacturing employment (area) . 4,160 •• + 1 End-of-month deposits (tbouaanda)t..$ 115,975 •• + 14 Percent unemployed (area) . 8.5 -5 + 8 Annual rate of deposit turnover. 15.4 + 18 -3 Nonfarm placements . . . 554 -19 -23 ODESSA (pop. 86,937r) Retail sales + 12t + 28 + 7 MIDLOTHIAN: see DALLAS SMSA Furniture and household appliance stores + St + 18 + 7 MINERAL WELLS (pop. 11,053) General merchandise stores . + 41t + 81 -14 Postal receipts• ... .S 90,328 + 8 -5 Postal receipts• .. . ......... .. ... . . .. S 14,020 -14 -10 Building permits, less federal contracts $ 1,614,681 +186 +182 Bulldln&' permits, less federal contracts $ 134,500 + 62 -48 Bank debits (thousands) . . ......... .$ 96,428 + 84 + 14 Bank debits (thouaands) . . . .$ 15,618 + 28 + 24 End-of-month deposits (thouaands>i ..S 72,681 -1 -11 End-of-month deposits (thousands) . $ 12,470 + 11 + 5 Annual rate of deposit turnover. 15.9 + SS + 24 Annual rate of deposit turnover. 15.8 + 24 + 23 Nonfarm placements 444 + 7 + 11Nonfarm placement& .. . .. .. .. . . 98 + 50 + 35 ORANGE: see BEAUMONT-PORT ARTHUR­J.tall sales ORANGE SMSA Druptores .. + st -4 + 2 Postal receipta• . . . . . . . . . . . . . . ...$ 10,022 + 15 + 7 PALESTINE (pop. 13,974) Baildlns permits, less federal contracts S 98,799 +268 -44 Postal receipts• . . . . S 16.839 + 2S + 4 Bank debits (thousands) . $ 12,209 + 16 + 1 Building permits, leas federal contracts $ 68,450 -82 -14 End-of-month deposit& (thouaands) i S 8,251 -6 -13 Bank debits (thousands) . .S 14,188 + 12 + 11 Annual rate of deposit turnover.. . . . 17.2 + 19 + 7 End-of-month deposits (thouaands) t .. S 15,766 -4 -2 Annual rate of deposit turnover. 10.6 + 18 + 11 MISSION (pop. 14,081) MONAHANS (pop. 9,252r) Postal receipts• ................... . 9,760 -5 + 4 PAMPA (pop. 24,664) Buildins permits, lea federal contracts S 173,920 + 56 -68 Retail sales + 12t + 28 + 19 Bank debits (thousands) . . . . .. .S 6 11,812 + 18 + Automotive stores ... -St + 27 +as End-of-month deposits (thousands)t..$ 7,589 -1 + 4 Eatin&' and drinkin&' places . + 9t + 12 + 8 Annual rate of deposit turnover..... . 18.0 + 16 + 4 Postal receipts• .. S 27,727 + 4 -' MOUNT PLEASANT (pop. 8,027) Building permits, leas federal contracts S 208,221 + 50 +272 lletall sales Bank debits (thousands) . . . . . S 28.188 + 11 + 22 End-of-month deposits (thouaands>i . . S 20,722 -1 -2 Apparel stores ...... . . ... .. .. .... . + 36t + 81 -80 Annual rate of deposit turnover .. 16.2 + 16 + !S Poetai receipta• .............. . ......S 10,241 -1 108 -ao -18 -' Nonfarm placements Bulldin&' permits, lea federal contracts S 65,100 -61 + 6 Bank debits (thousands) ... .. . . . .....S 10,861 6 + 10 + PECOS (pop. 12,728) End-of-month depD91ts (thouanda)i..$ 8,877 5 -5 + Postal receipts• . . . . S 10,200 6 -28Annual rate of deposit turnover. 15.9 + 5 + 14 Buildin&' permits, less federal contracts S 6,580 4 1 Bank debits MUENSTER (pop. 1,190) (thousands) . . . $ 16.178 a -! Poetai receipts• . .. .... ..............S 1.860 -10 + 2 End-of-month deposits (thousand&) t S 11,052 1 -8 llaildlns permit., lea federal contracts S 26,000 -29 Annual rate of depasit turnover.. . . . 17.5 4 •• Bank debits (thousands) .............s 2,476 + 2 + 18 Nonfarm placements 71 + 78 -14 End-of-month deposit& (tbouaanda)t..$ 1.986 9 -8 Annual rate of depo9it turnover. .. . . . 14.2 + 8 + 26 PASADENA: see HOUSTON SMSA 145KAY 1965 Percent change Percent chanae Local Business Conditions Local Business Conditions Mar 1965 Mar 1965 Mar 1965 Mar 1965 Mar from from Mar from from City and item 1965 Feb 1965 Mar 1964 City and item 1965 Feb 1965 Mar 1964 ROBSTOWN: see CORPUS CHRISTI SMSA PARIS (pop. 20,977) Retail sales + 12t + 20 -15 ROCKDALE (pop. 4,481) Apparel stores + 85t + 9 -36 Postal receipts• .$ 6,199 + 8 + 7Automotive 1tore1 St + 19 7 Buildinir permits. less federal contracts $ 18,660 +868 -57Lumber, buildinir material, Bank debits (thousands) . .$ 4.560 + 9 + a and hardware stores . + 7t + 44 + 4 End-of-month deposits (thousands) t . . $ 8,872 + 8 + 11 Postal receipts• ...... .$ 27,565 + 25 + 11 Annual rate of deposit turnover. 8.1 8 Buildlnir permits, lesa federal contracts $ 292,738 + 14 -1 + -8 Nonfarm placements 110 -17 + 10 ROSENBERG (pop. 9,698) Postal receipts• ...........$ 8,568 -7 + 1 PHARR (pop. 14,106) Building permits, less federal contracts $ 195,816 +168 +882 Po1tal receipts• ...$ 6.8S6 + + 2 End-of-month deposits (thousands) t. $ 9,679 -2 + IBulldlnir permits, leBB federal contracts $ 77,995 + 67 +109 Bank debits (thousands) .... .$ 4,708 + s + 16 SAN ANGELO End-of-month deposits (thousands) t .. $ 4,784 + 11 + 15 Standard Metropolitan Statistical Area Annual rate of deposit turnover . 12.5 •• + 4 (pop. 70,5821; Tom Green2) Building permits, less federal contracts $ 507,278 + 52 -(0PILOT POINT: see DALLAS SMSA Bank debits (thousands) . .$ 825,800 + 9 + 7 Nonfarm employment (area). 20,400 •• + 8 PLAINVIEW (pop. 18,731r) Manufacturing employment (area) . 2,960 + 4 -10 Retail aalea Percent unemployed (area) . 4.2 -18 -1' Automotive 1tore1 -St + s + 9 ····· ····· SAN ANGELO (pop. 58,815) General merchandise atores . + 4lt + 26 -27 Retail sales + 12t + 28 gPo1tal receipts• ...$ 29,SS5 -2 + 17 Jewelry stores -40 + 2Bulldlnir permits, less federal contracts $ 346,350 -86 -40 Postal receipts• ...$ 81,289 -22 + 1 Bank debits (thousands) ............ . $ 45,058 + 10 + 17 Building permits, less federal contracts $ 507,278 + 52 -(0End--0f-month deposits (thousands) t . .$ 35,467 + 3 + 5 Bank debits (thousands) ............ .$ 65,888 + 15 + 9 Annual rate of deposit turnover. 15.5 + 9 + 6 End-of-month deposits (thousands) t ..$ 60,786 •• +Nonfarm placements 238 -14 -84 Annual rate of deposit turnover 16.6 + 16 + PLANO: see DALLAS SMSA SAN ANTONIO Standard Metropolitan Statistical Area PLEASANTON (pop. 5,053r) Retail aales (pop. 784,2691; Bexar and Guadalupe2) Building permits. less federal contracts $ 6,038,858 + 20 -28 Druptores ..... . .... . + St + 14 + 12 Bank debits (thousands) . . $10,378,486 + 8 + 12Gasoline and service stations. + St + 9 + 6 Nonfarm employment (area) . 228,100 •• + 8Buildlnir permits, leBB federal contracts $ 165,S36 + 60 Manufacturing employment (area) . 27,200 •• + Bank debit• (thousands) . . ...........$ 2,953 -12 + 6 Percent unemployed (area) . . . . . . . . . . 4.5 -8 End-of-month deposits (thousandsJi . . $ 3,843 + 2 2 Annual rate of deposit turnover . 9.S -18 + 6 SAN ANTONIO (pop. 655,006r) Retail sales + 18 + 12 + 2 PORT ARTHUR: see BEAUMONT-PORT ARTHUR­Apparel stores + 88 + 81 -10 ORANGE SMSA Automotive stores + 18 + 21 +28 Drugstores + 8 •• -7 Eating and drinking places . + 10 + 9 -ll PORT ISABEL: see BROWNSVILLE-HARLINGEN­ Florists -18 -15 SAN BENITO SMSA Food stores .. . . .. . ... .... .• . ...• .. + 10 + 10 t Furniture and household PORT NECHES: see BEAUMONT-PORT ARTHUR­ appliance stores . . ... . . + 10 + 5 ORANGE SMSA Gasoline and service stations . + 14 + 18 + General merchandise stores . + 86 -6 QUANAH (pop. 4,564) Lumber, building :material,Postal receipts• .$ 4,663 -8 -10 and hardware stores .......... . + 28 + 51 Buildlnir permits, l~f~~~~j ~~~-t~~~~ $ 2,600 • -62 -67 Nurseries ... + 8( -aa Bank debita (thousands) ............ . $ ~.760 + 9 -9 Postal receipts• . . . . . . . . . . . . . . .. $ 906,628 •• + I End-of-month deposits (thousand•) t . . $ 5,159 -4 -10 Building permits, less federal contracts $ 5,498,628 + 28 -25 Annual rate of deposit turnover . 10.S + 16 + 2 Bank debits (thousands) .............$ 877,018 + 17 + 16 End-of-month deposits (thousands) t ..$ 448,784 -1 + • RAYMONDVILLE (pop. 9,385) Annual rate of deposit turnover . 28.4 + 18 + t Postal receipts• ........... . ........ $ 7,Sl3 + 20 + 14 Buildinir permits, leas federal contracts $ 41,SOO 6 SCHERTZ (pop. 2,281) Bank debits (thousands) . . . . . . . . . . $ 6,72S + 12 + 10 Postal receipts• . . . $ 2,825 + 82 +109 End-of-month depoaita (thousands) t .. $ 7,3S6 -6 + 7 Bank debits (thousands) . . . . . . . . . . . . $ 689 + 19 + 8 Annual rate of deposit turnover. 10.7 End-of-month deposits (thousands) t .. $ 1,186 + 2 + 8 + + S7 + 16 + 9 Nonfarm placemcnta Annual rate of deposit turnover . 6.8 + 17 + 1 57 -8 -12 SEGUIN (pop. 14,299) REFUGIO (pop. 4,944) Postal receipts• ............. .. . $ 12,757 -8 4 Retail sales Building permits, less federal contracta $ 101,660 -70 + 66Lumber. buildinirmaterial, Bank debits (thousands) . . . . . . $ 17,207 + S4 +88 and hardware stores + 7t + 62 + 77 End--0f-month deposits (thousandsJi. . S 16,541 •• + 2Postal receipts• . . . . .. .. 4,07S -86 -4S Annual rate of deposit turnover . . . . . . 18.8 + 86 +88 Buildinir permits, less federal c~~tr~~~ $ 150,400 SAN BENITO: see BROWNSVILLE-HARLINGEN-SAN RICHARDSON: see DALLAS SMSA BENITO SMSA 146 TEXAS BUSINESS REVIEW Percent change Percent change Local Business Conditions Local Business Conditions Mar 1965 Mar 1965 Mar 1965 Mar 1966 Mar from from Mar from from City and Item 1965 Feb 1965 Mar 1964 City and item 1965 Feb 1965 Mar 1964 SULPHUR SPRINGS (pop. 9,160) SAN JUAN (pop. 4,371) Retail sales Postal receipts• . . . . . . . . . . . ...$ 2,867 + 14 + 27 Automotive stores Building permits, leu federal contracts $ 950 -94 -95 St + 9 + 17 Postal receipts• .. . S 17,261 -6 + 18 Bank debits ( thouaand1) ... ..........$ 2,867 + 18 + 18 Building permita, less federal contract& $ 884,766 + 91 +210 End-of-month depoaits (thouaandlH..$ 2,249 -6 + 28 Bank debits (thousands) .... .S 14,467 Annual rate of depo1it turnover ..... . 12.2 + 16 -10 + 11 + 14 End-of-month deposita (thouaands>i . . $ 18,060 -2 •• Annual rate of deposit turnover.. .. . . 18.2 + 14 + 18 SAN MARCOS (pop, 12,713) Poatal receipta• . . . . . . . . . . . . $ 12,695 -5 + 10 STEPHENVILLE (pop. 7,359) Building permits, leu federal contracts $ 708, 789 +105 +406 Postal rece!pta• .. .. .S 9,210 -88 -14Bank debita (tbouaandl) . . . . .$ 10,390 + 13 + 6 Building permits, less federal contract& S 876,800 +668 -16End-of-month depo1ita (thouaand•H.. $ 12,866 + 8 + 24 Bank debits (thousands) S S,807 + 19 + 8Annual rate of depo1it turnover. 9.S + 18 -18 End-of-month deposits (tbouaandl) i . .S 9,114 -1 •• Annual rate of depooit turnover. 10.9 + 21 + 7 SAN SABA (pop. 2,728) Poatal recelpta• . ... . . . . .. . ... .......$ 4.21S + 22 + 8 SWEETWATER (pop. 13,914) Building permits, lee• federal contracts $ 15,900 -41 Postal receipts• .. ....$ 12,S46 -6 -8 Bank debita (thouaandl) .............$ 8,961 + 27 -12 Building permita, less federal contracts $ S0,450 + 21 + 87 End-of-month depoaits (thouaands) i . .$ 4,208 -1 9 Bank debita (thousands) . .$ ll,S29 + 2 + 7 Annual rate of depo1it turnover... . . . 11.8 +so -8 End-of-month deposits (thouaands) i . .S 10,026 -l -1 Annual rate of deposit turnover. 14.l + 4 + 8 SCHERTZ: see SAN ANTONIO SMSA Nonfarm placements . . ... .. .. . .. . .. . 282 +142 + 67 TAYLOR (pop. 9,434) SEAGOVILLE: see DALLAS SMSA Retail aales Automotive 1torea .. . . ..... . .. . ... . -St + 11 -1 SEGUIN: see SAN ANTONIO SMSA Postal receipts• ... .$ 9,102 + 4 + 20 Building permits, less federal contracts S 464,611 +698 SHERMAN (pop. 30,660r) Bank debits (thousnnds) . . .$ S,677 + 12 + 14 Retail lalee .. ... . . .. .. .......... . + 12t + 28 + 8 End-of-month deposits (thouaanda) i . .$ 15,129 -2 + 2 Apparel atoree ...... .... .. . .... . .. + 85t + 5 -88 Annual rate of depooit turnover. 6.S + 16 + 11 Automotive 1tore1 . . . . . . .. . ...... . . 8t + 87 + 16 Nonfarm placements 26 + 80 -28 Furniture and houaehold appliance atorea .. ... .. . .. ... . . . + 6t + 26 + 16 TEMPLE (pop. 34,730r) Postal receipts• . . . . . . . . . . . . . . . . .. .. $ 40,821 + 12 + 18 Retail sales + 12t + 18 + 1 Building permita, leu federal contracts S 858,225 +102 + 81 Apparel stores .... . .. . .. .... . . ... . + 86t + 16 -87 Bank deblta (thouaandl) ... ..........$ 82,007 + 2 + s Automotive stores .. ... ........ . -St + 2 + a End-of-month deposita (thouaandlH.. $ 22,881 + 8 + 9 Food stores .. .... ................ . + 14t + 9 + 8 Annual rate of depo1lt turnover. . .. . . 17.5 + 2 5 Furniture and household Nonfarm placement& . ... . ... . ...... . 152 + 14 1 appliance stores + St + 26 + 10 Postal receipta• ......... . ..S 46,167 -l + 9 SILSBEE (pop. 6,277) Building permits, leas federal contracts S 421,540 -26 -12 Postal receipta• . . . . . . . . . . . . . S 8,866 -5 -2 Bank debits (thousands) . . . . . .$ 84,998 + 12 + 17 Building permits, leas federal contracts $ 88,650 -64 Nonfarm placements 240 + 9 -10 Bank deb I ta (tbouaandl) .............$ 4,520 -14 -8 TERRELL (pop. 13,803) End-of-month depo1ita (tbouaands)-f ..$ 5,678 •• + 8 Postal receipts• 9,699 + -II S 9 Annual rate of deposit turnover. 9.6 -18 -10 Building permits, less federal contracts S 97,700 + 66 -98 Bank debits (thousandl) ........ . . . ..S 9,800 2 • SINTON (pop. 6,008) End-of-month deposits (thousandl) i . .$ 8,482 2 8 Pa.tal recelpta• ........ . .... . .......$ 6,541 -27 + 24 Annual rate of deposit turnover. . . . 18.1 + 4 II Building permits, leu federal contraeta S 186,480 +617 Bank debits (thouaands) .............$ 4,866 + 8 -11 TEXARKANA End-of-month deposits (thouaandl)t.. $ 4,860 + 8 + 8 Standard Metropolitan Statistical Area Annual rate of depo1it turnover... .. . 10.9 + 8 -16 (pop. 64,6141; Bowie, excluding Miller, Ark.2 ) Building permits, leas federal contracts S 387,175 -84 -80 SLATON: see LUBBOCK SMSA Bank debits (thousands) . . . . ...$ S58,828 -12 -10 Nonfarm employment (area) . . . 82,200 •• + 2 SMITHVILLE (pop. 2,933) Manufacturing employment (area) . 6,660 •• •• POltal receipta• ...... . . . .... . . .. . . .. S 2,686 + 29 -21 Percent unemployed (area) . 8.6 -4 + 2 Bnllding permlta, lea federal contraeta S 7,600 TEXARKANA (pop. 50,006r) + 16 + 16 Bank debits (thouaandl) .... ......... S l,2S! + 6 + 16 Retail sales + 12t End-of-month depoalts (tbouaand1li.. S 2,406 •• -6 + 20 Apparel stores + 86t + 17 -24 Annual rate of depo1it turnover. 6.4 + 7 + 21 Automotive stores St + 19 Furniture and household appliance stores . . . + St + 7 + SNYDER (pop. 13,850) 2 Postal receipts• .. . S 71,154 + 16 + 9 a.tallule1 Building permits, leu federal contractl S 276,675 -48 -86 Automotive ltolW .... ............ . -St + 18 -6 62,869 + 6 4 Bank debits (thousandl) . . . . SBuilding permits, leu federal contracts S 28,200 -4S -S6 End-of-month deposit. (tbouaandl) U . S 20,860 + 4 -1 Bank debita (tbouaandl) . .. ...... . . . . $ 18,272 + s -25 Annual rate of deposit turnover.. . . . . 19.0 + 5 + s l:ncM!-montb depo1lta (tbouaandl>i..$ lS,742 -1 + 1 Annul rate of depo1lt turnover.. .. . . S.4 + 11 -27 TEXAS CITY: see GALVESTON-TEXAS CITY SMSA TOMBALL: see HOUSTON SMSA SOUTH HOUSTON: see HOUSTON SMSA 147llAY 1965 Local Business Conditions Percent change Mar 1966 Mar 1966 Mar from from City and item 1965 Feb 1966 Mar 1964 TYLER Standard Metropolitan Statistical Area (pop. 93,2591; Smith2 ) Building permits, less federal contracts $ 1,147,905 + 86 -14 Bank debits (thousands) ......... . . . . $ 1,612, 792 Nonfarm employment (area) . . . . . . . . . S2,660 - 1•• + 14 + 8 Manufacturing employment (area) . 8,840 + 1 + 7 Percent unemployed (area) . 8.9 -11 -16 TYLER (pop. 51,230) Retail sales ............... . + 12t + 17 + 6 Apparel stores . .... . .... . .. . ..... . + 86t + s -21 Automotive stores .. . . . . . ... . . . .. . - St + 28 + 19 Florists .. . .... .. .......... . ..... . + 6 + 12 Postal receipts . . . . . .............. . .. $ 1S2,469 + 84 + 16 Building permits, less federal cont racts $ 1,139,906 + 45 -18 Bank debits (thousands) . . . . .....$ 124,411 + 11 + 16 End-of-month deposits (thousands) t .. $ 77,22S + 7 + 12 Annual rate of deposit turnover. 20.0 + 11 + 6 Nonfarm placements . . . 622 + 4 + 1 UVALDE (pop. 10,293) Retail sales Automotive 1t.orea . .... ....... . ... . St - 6 -17 Lumber, building material, and hardware stores....... . . + 7t + 27 -14 Postal receipts• . . . . . . . . . . . . .$ 9,799 - 1 - 6 Building permits, less federal contracts $ 172,867 +117 +489 Bank debits (thousands) . .$ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover . 13,07S S,717 18.0 + 4S•• + 61 + 11 -8 + 14 VERNON (pop. 12,141) Retail sales Automotive at.ores . .. . ..... . - St + 22 - 9 Postal receipts* ...$ Building permits, less federal contracts $ 16,286 76,400 + 66 + S9 + S6 + 12 Bank debits (thousuds) . . . . . $ 14,968 + 6 + 6 End-of-month deposits (thousands) t .. $ 19,797 - 1 + s Annual rate of deposit turnover .. 9.0 + s + 2 Nonfarm placements .. ... ..... . 47 -S7 + 4 VICTORIA (pop. 33,047) Retail sales Apparel stores ..... .. ... . Postal receipts• . . . . ....$ + 86t 44,707 + 16 + 6 -14 + 10 Building permits, less federal contracts $ 776,190 + 4 + 1 Bank debits (thousands) . .$ End-of-month deposits (thousands) t .$ Annual rate of deposit turnover.... . Nonfarm placements .... . .......... . 72,049 89,0S6 9.7 691 + 9 •• + 7 + 26 + 6 + 7 •• + 18 WACO Standard Metropolitan Statistical Area (pop. 154,0791; McLennan2 ) Building permits, leas federal contracts $ 2,4S5,7S9 + 18 + 64 Bank debits (thousands) .............$ 1,788,128 6 + 12 Nonfarm employment (area) . . . . . . . . . 62,800 + 1 + 2 Manufacturing employment (area) . 10,970 + 1 + 4 Percent unemployed (area) . . . . . . . . . . 4.1 -lS -20 McGREGOR (pop. 4,642) Buildinir permits, less federal contracts $ 22,300 +6s7 +1S6 Bank debits (thousands) .... ......... $ 6,898 + 20 + 48 End-of-month deposits (thousandali..$ 6,898 -6 + 11 Annual rate of deposit turnover. . .. . . 10.7 + 28 + 24 WACO (pop. 103,462) Retail sales ...... . .... .. .... . ...... . + 12t + 14 + 17 Apparel stores .... . ........ . . .... . + 86t -16 -21 Automotive stores . . ... . ......... . -St + 14 + S6 Florists ....... . ......... . ....... . + 8 -'1 General merchandise stores..... ... + 41t + 23 -10 Postal receipts• ..................$ 206,626 + 7 + 1 + 78 Building permits, less federal contracts $ 2,300,289 + 14 Bank debits (thousands) ..... . .. .. ...$ 146,649 + 11 + 16 -2 + 11 End-of-month deposits (thousands);.. $ 88,778 Annual rate of deposit turnover. . . . . . 19.6 + 12 + 2 Local Business Conditions Percent~ Mar 19S6 Mar 1886 Mar from from City and Item 1966 Feb 19S6 Mar 1964 WAXAHACHIE: see DALLAS SMSA WEATHERFORD (pop. 9,759) Postal receipts• ....... . .............$ 11,287 + 10 -7 Building permits, less federal contracts $ 56,160 + 86 -18 End-of-month deposits (thousand•) i ..$ 14,814 + 1 - 1 WESLACO (pop. 15,649) Postal receipts• ........... . .. ... ....$ 11,1(8 -1 ­ . Building permits, less federal contracts $ 60,420 -26 -81 Bank debits (thousands) ..... . .......$ 8,991 + 1 + 8 EnTer · · · · · · TEXAS BUSINESS REVIEW 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, except annual indexes. Employment estimates are Texas Employment Commission data in cooperation with the Bureau of Labor Statistics of the U. S. Department of Labor. The index of Texas business activit\' is based on bank debits in 20 cities, adjusted for price level. An asterisk (•) indicates preliminary daca subject to revision. Re\'ised data are marked (r) . Data marked (§) are dollar totals for the fiscal years to date. Year-to-date average Mar Feb Mar 1965 1965 1964 1965 1964 GENERAL BUSINESS ACTIVITY Texas business activity, index . 171.0 161.9 143.5 162.5 144.3 Miscellaneous freight carloadings in SW District, index 77.J 74.3 74.8 76.3 76.9 Wholesale prices in U. S., unadjusted index 101.3 101.2 100.4 101.2 100.6 Consumers' prices in Houston, unadjusted index . . .. 107.4 107.4 107.2 Consumers' prices in U. S., unadjusted index . 109.0 108.9 107.7 108.9 107.7 Income payments to individuals in U. S. (billions, at seasonally ad­ justed annual rate) . $ 513.5• s 51 J.O• S 482.9r s 511.6 $ 480.9 Business failures Business failures (number) . (liabilities, thousands) 77 $ 3,877 s 55 3,024 63 s 4,694 s 67 4,948 63 s 5,665 Newspaper linage, index .... 108.3 111.5 105.5 111.4 107.0 Ordinary life insurance sales, index . . . .. . . . .. .. . . 159.4 163.6 142.1 155.3 146.7 TRADE Total retail sales, index . 132.1 • 128.1 • 126.3r Durable-goods sales, index 155.4• 129.J • 133.3r Nondurable-goods sales, index . 120.0• 127.6• 122.7r Ratio of credit sales to net sales in department and apparel stores . . . 71.1 • 64.2• 69.0r 67.1 65.7 Ratio of collections to outstandings in department and apparel stores . 31.0• 26.4• 30.9r 30.1 30.5 PRODUCTION Total electric power use, index . 163.7• 165.5• 151.2• 163.6 151.9 Industrial electric power use, index . . . .... . ....... . . . . . . . ... . . . . 152.3• 158.8• 142.0· 154.0 142.7 Crude oil production, index ...... .. . . .. . . . 93.2• 93.7• 93.8• 94.2 94.6 Average daily production per oil well (bbl.) 13.2 13.4 13.0 13.3 13.1 Crude oil runs to stills, index .. . .. . .. . 112.5 112.2 109.9 112.3 113.0 Industrial production in U. S., index . 140.J• 138.9• 129.0r 139.1 128.3 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 . 130.4• 154.4• 151.4• 156.6• 99.o• 131.0· 153.0· 150.8• 154.6• 102.1 • 124.3r 144.7r 139.1 r 148.8r 97.6 130.3 152.7 150.5 154.4 100.9 124.2 124.8 136.l 147.7 99.9 Building construction authorized, index . New residential building authorized, index . New nonresidential building authorized, index . 118.5 104.5 121.3 118.5 90.0 151.5 126.0 127.4 124.7 116.7 100.2 128.7 128.4 121 .9 142.6 AGRICULTURE Prices received by farmers, unadjusted index, 1910-14=100 Prices paid by farmers in U.S., unadjusted index, 1910-14=100 Ratio of Texas farm prices received to U. S. prices paid by farmers 239 318 75 238 318 75 256 313 82 238 318 75 255 313 82 FINANCE ank debits, index . tlank debits, U. S., index 173.2 173.8 163.8 168.5 144.1 159.7 164.3 170.6 145.2 158.5 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 4,492 s 6,583 s 2,845 Sl57,897 s 4,409 s 6,482 s 2,818 $198,722 s 4.120 s 6.215 s 2.792 Sl24,554 s 4,418 s 6,507 s 2,820 Sl59,550 s 4,049 s 6,133 s 2,855 Sl33.337 Securities registrations: Original applications: Mutual investment companies (thousands) . . . . . . . . . .. . .. · s 18,615 s 28.104 s 18,050 s 83,303§ s 39,448§ All other corporate securities: Texas companies (thousands) . . Other companies (thousands) .. . . . ... .. . . . s s 2,144 5,140 s s 7,944 3,040 s s 4.252 4,759 s 48,013§ s 30,058§ s 33,307§ s 23,494§ Securities registrations: Renewals: Mutual investment companies (thousands) Other corporate securities (thousands) . . . · · . · · · · · · · s s 2,333 1,408 s s 3,245 494 s s 8,753 1.249 s 54,641 § s 5,327§ s 55,017§ s 4,520§ 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) . . . . . . . 113.3• 115.8· 102.2• 118.6• 2,842.9• 548.6• 275.8• 272.8• 113.3• 11 5.4• 102.0r I 18.3r 2,816.2r 545.lr 273.7r 271.4r 110.I 111 .8 102.2 116.2 2,744.4r 532.9r 263.4r 269.5r 113.1 115.4 101.9 118.7 2,824.6 545.3 273.4 271.9 109.6 111 .6 101.2 115.3 2.730.5 528.7 260.0 268.7 Total nonagricultural labor force in selected labor market areas (thousands) .. .. . . . .. · · · · · · · · · · · · · Employment in selected labor m~rket areas (thousands) .. 2,702.0 2,518.9 2,701.9 2,502.0 2,639.6 2,445.4 2,702.0 2,508.3 2,635.4 2,434.8 Manufacturing employment m selected labor market areas (thousands) . . . . . . . . . . . . . · · . · · · · . · · · · · · Total unemployment in selected labor market areas (thousands) .. 460.9 106.0 458.5 120.5 439.2 119.3 458.8 115.l 437.0 128.2 Percent of labor force unemployed in selected areas ... ... ..... .. labor market 3.9 4.5 4.5 4.3 4.9 > '"3 t:d t:i c:: ~ c: '"3 rn t'l '"3 ~ ~ c:: trj _:z z z > ::i:i ~ c: ~ t'l ::i:i ~ rn 0 ~ g rn >:cj ~ rn -.:i ><: t:d 0 REPRINTS AVAILABLE 00 ~ -.:i c: "l 0 I-' Ul I....:> ..... ~ z ~ trj rn Ul Reprints of "Population Estimates for Texas Counties, 1964," Ul which appeared in the March 1965 issue of Texas Business ~ trj Review, are now available. The reprints incorporate some Ul important corrections and revisions of the data originally trj > published. ~ Cl p:: Single reprints available upon reqiwst. Multi-copy orders, two cents per copy. BUREAU OF BUSINESS RESEARCH THE UNIVERSITY OF TEXAS (Texas residents add 2% sales tax.) .,, t'l 0 rn z rn '"3 rn t'l ~ (") t'l 0 z > 1' c:: t'l > ::i:i rn