MARCH 1967 

IC I 

TEXAS 
BUSINESS 
REVIEW 

A Monthly Summary of Bu,siness and Economic Conditions in Texas 
BUREAU OF BUSINESS RESEARCH : THE UNIVERSITY OF TEXAS 
TEXAS BUSINESS REVIEW VOL. XLI, NO. 3, MARCH 1967 
Editor, Stanley A. Arbingast; Associate Editor, Robert H. Ryan; Managing Editor, Graham Blackstock 
Editorial Board: Stanley A. Arbingast, Chairman; John R. Stockton, Francis B. May, Robert H. Ryan, Graham Blackstock 

CONTENTS 
ARTICLES 
73: 	THE BUSINESS SITUATION IN TEXAS, by John R. Stock­ton 
76: 	MILITARY PAYROLLS AND THE TEXAS ECONOMY, by Dennis Richardson and Stanley A. Arbingast 
83: 	TEXAS BUILDING CONSTRUCTION AUTHORIZED IN JANU­ARY, by Robert B. Williamson 
CHARTS AND TABLES 
73 : 	TEXAS BUSINESS ACTIVITY 
74: 	SELECTED BAROMETERS OF TEXAS BUSINESS 

74: 	
CREDIT RATIOS FOR DEPARTMENT AND APPAREL STORES 


75: 	
BUSINESS-ACTIVITY INDEXES FOR 20 SELECTED TEXAS CITIES 

75: 	
RETAIL SALES TRENDS BY KINDS OF BUSINESS 


77: 	DEPARTMENT OF DEFENSE PAYROLLS AND TOTAL PER­SONAL INCOME FOR THE FIVE STATES WITH THE LARG­EST DEFENSE PAYROLLS, 1965 
78: 	MILITARY AND CIVILIAN PE R S 0 N N E L: AVERAGE STRENGTH AND ESTIMATED PAYROLLS BY MAJOR IN­STALLATION-STATE OF TEXAS, FISCAL YEAR 1966 
79: 	MAJOR MILITARY INSTALLATIONS IN TEXAS, 1966 (map) 
80: 	
RELATIONSHIP OF CONSUMPTION AND SAVINGS OUT OF DISPOSABLE PERSONAL INCOME IN THE UNITED STATES, 1960-1965 

80: 	
NATURE AND PERCENTAGE DISTRIBUTION OF PERSONAL­CONSUMPTION EXPENDITURES IN THE UNITED STATES, 1960-1965 


81: 	MILITARY AND CIVILIAN PAYROLLS BY STATES, 1965 (map) 

82: 	
INCOME GENERATED FROM PAYROLLS BY TEXAS MILI­TARY INSTALLATIONS, FISCAL 1965 AND 1966 

82: 	
DISTRIBUTION OF CONSUMER EXPENDITURES OUT OF IN­COME GENERATED FROM PAYROLLS BY TEXAS MILITARY INSTALLIONS 


82: 	
PRELIMINARY ESTIMATES OF TOTAL RETAIL SALES IN TEXAS 

82: 	
TEXAS INDUSTRIAL PRODUCTION 


83: 	ESTIMATED VALUES OF BUILDING AUTHORIZED IN TEXAS 
84: 	ONE-FAMILY, TWO-FAMILY, AND APARTMENT-BUILDING DWELLING UNITS IN METROPOLITAN AREAS, JANUARY 1967 

85: 	BUILDING CONSTRUCTION AUTHORIZED IN TEXAS 
86: 	
TOTAL ELECTRIC-POWER USE IN TEXAS 

86: 	
INDUSTRIAL ELECTRIC-POWER USE IN TEXAS 

86: 	
ORDINARY-LIFE-INSURANCE SALES IN TEXAS 

86: 	
BANK DEBITS IN TEXAS 


87: 	AVERAGE WEEKLY HOURS, TEXAS MANUFACTURING IN­DUSTRIES 
87: 	
AVERAGE WEEKLY EARNINGS, TEXAS MANUFACTURING INDUSTRIES 

87: 	
NEWSPAPER AD LINAGE IN TEXAS 

87: 	
TEXAS INDUSTRIAL PRODUCTION: TOTAL MANUFACTURES 

87: 	
TEXAS INDUSTRIAL PRODUCTION: UTILITIES 

87: 	
TEXAS INDUSTRIAL PRODUCTION: MINERALS 

87: 	
CONSUMER PRICES IN THE UNITED STATES 

87: 	
WHOLESALE PRICES IN THE UNITED STATES 


88: 	LOCAL BUSINESS CONDITIONS BAROMETERS OF TEXAS BUSINESS (inside back cover) 
BUSINESS RESEARCH COUNCIL 

George Kozmetsky, Dean of the College of Business Ad­ministration (ex officio); John R. Stockton, Jessamon Dawe, Thomas E. Gossett, James R. Kay, Stephen L. McDonald, Charles R. Klasson, 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 Sta.tistician: Francis B. May Administrative Assistant: Cynthia Bettinger Research Associates: Charles 0. Bettinger, Graham Black­
stock, Ida M. Lambeth, Robert M. Lockwood, Robert H. Ryan, Elizabeth R. Turpin, Joyzelle Wilke, Robert B. Williamson 
Research Assistants: James E. Bobbitt, Claire S. Howard, Selma Kallus, Hans Dieter Kurz, Kamal Said, John W. Townsend, James E. Willingham 
Senior Secretary: Betty Sue Hoch 
Senior Clerk Typists: Lois Conrad, Carolyn Harris, 
Kathryn Powell, Peggy Wilmot 
Cartographers: Michael E. Bonine, Mary Helen Parks, 

Elizabeth E. Snoddy, Doug Winters, Jr. 
Library Assistant: Merle Danz 
Statistical Assistants: Mildred Anderson, Constance 

Cooledge, Margaret Tannich 
Statistical Technicians: Doris Dismuke, Mary Gorham 
Senior Clerk: Salvador B. Macias 
Clerical Assistants: Peggy Bobo, Berge Garabedian, Way­

land Watts 
Off set Press Operators: Robert Dorsett, Daniel P. Rosas 

· 	Research Graduate School of Business The University of Texas at Austin, Austin, Texas
Published monthly by the Bureau of Busmess • 	• 
. tin Texas Content of this publication is not copyrighted and may be reproduced freely, but acknowl­78712· Second-class p~stage paid a_t Aus • . • ed b authors are not nece68arily those of the Bureau of Business REsearch. SubacriP" 
edgment of source will be appreciated. The views express Y tion, $3.00 a year; individual copies, 25 cents. 
· 	Res h · ber of the Associated University Bureaus of Business and Economic Research. 
The Bureau of Bus1lli!SS earc 1s a mem 
THE B·USINESS SITUATION IN TEXAS 

John R. Stockton 
The index of Texas business activity showed a strong upturn In January, increasing 8% from the level of December 1966 to reach a point 11% above that of January of last year. This rise is the strongest registered since August 1966, although the index is somewhat er­ratic in its movements. During the last four months of 1966, the trend of total business activity in Texas was definitely downward, and the January upturn makes it necessary to try to ascertain whether the slight recession of 1966 has come to ·an end, or the January rise is merely an erratic fluctuation. 
Since the business indexes for both Texas and the 

country as a whole are somewhat conflicting, it is im­
portant to weigh carefully all the factors that are af­
fecting the trends of business. The economic indicators 
of Texas business that normally turn ahead of a change 
in the level of business . showed weakness as early as 
June 1966, but more recently have been showing strength. 
The situation is that some segments of the economy 
are rising while at the same time signs of weakness 
are apparent in others. 
Texas business is feeling the effect of ·a slowing down 

of demand from individual consumers but is also re­
ceiving a strong stimulus to demand from government 
purchases of products vital to the ,war in Vietnam. The 
tightness of credit that became acute during 1966 re­
duce<i new construction in Texas as well as in all other parts of the country. The sale of durable consumer goods, particularly automobiles, has shown serious weakness. At the same time, Texas manufacturing industry is supply­ing many different items for the expanding military pro­curement program. The net result of these divergent trends has been a clouding of the view of the immediate prospects for business. 
Construction has been the weakest segment of the Texas economy, reflecting the nationwide decline. Resi­dential building has suffered more than nonresidential, new construction authorized dropping in December to the lowest level since 1956. January, however, after adjust­ment for seasonal variation, increased 28% over De­cember, but this level for residential construction was still below any month since the recession of 1960. Non­residential construction authorized showed much less weakness during 1966 than residential but in January de­clined 13% to bring it to a point 20% below a year ago. The rise in residential building brought total build­ing permits up 1% over December 1966 but still 18% below a year ago. 
Since building has been a major factor in the boom of the last six years, this decline has been an inevitably important factor in the slowing of business in Texas as registered on the business barometers. Although the 
TEXAS BUSINESS  ACTIVITY  
Index-Adjusted  for  Seasonal  Variation-1~57-1959=100  
350  350  
300  300  
250  250  
200  200  
150  150  
100  100  
50  50  
0  0  
1954  1955  1956  1957  1958  1959  1960  1961  1962  1963  1964  1965  1966  1967  

NOTE: Shaded areas indicate periods of decline of total business activity in the United States. SOURCE: Based on bank debits reported by the Federal Reserve Bank of Dallas and adjusted for seasonal variation and changes in the price level by the Bureau of Business Research. 
supply of housing had become large in some sections of the state, the tight-money policy inaugurated in 1966 was mainly responsible for the drop in building activity. The outlook for building during the coming months is related also to the supply of credit and to the state of demand for building. The credit supply is improving as the Federal Reserve begins to loosen somewhat the restrictions on credit; the savings-and-loan companies are in a better position to finance new building, and the large insurance companies are beginning to come back into the mortgage-loan market. The demand. for housing has remained strong and the reduction in construction has lowered the vacancy rate to the point where new building will soon be needed; the assumption that the worst of the decline in building has passed seems rea­sonable, and 1967 should show an increasing volume of new construction authorized. Since the construction in­dustry is one of the strategic factors in determining the course of the business cycle, the present situation offers encouragement for the belief that the decline that is . now 
in progress might not be long. 
Another phase of the economic situation that has be­come extremely important in recent months is the level of inventories maintained by business concerns. In spite of the high level of consumer spending in Texas, as in the rest of the nation, retail sales have not kept up with the increase in production of goods. The tremendous ex­pansion of capital that has taken place since 1960 has increased and modernized the industrial plant of the United States to the point that it can produce an ex­tremely large volume of goods. During the major por­tion of 1966, it was running at practically full capacity, and in certain lines of importance in the military build­up it was falling behind orders. But in the civilian­goods sectors of the economy production began to exceed 
SELECTED BAROMETERS OF TEXAS BUSINESS 
(Adjusted for seasonal variation-1957-59=100) 
P ercent change  
Index  Jan 1967  Dec 1966  Jan 1966  J an 1967 from Dec 1966  Jan 1967 from Jan 1966  

Texas business activity . .. 185.9 172.9 168.0 + 8  + 11  
Crude-oil production Crude oil runs to stills . .105.2 • 104.0 • 99.0 r + . 117.4 126.3 117.2 -7  + 6 • •  
Total electric-power use .193.5 • 195.5 • 176.7 r -1  + 10  
Industrial electric-power use . . . 178.2 • 183.0 • 165.4 r -3  + 8  
Bank debits .. ............... . 197.4 188.1 175.7 + 8  + 12  
Urban building permits issued . 106.6 105.3 130.5 + 1  -18  
Residential . 87.4 68.4 113.() + 28  -23  
Nonresidential . . . . . .130.4 150.6 162.8 -13  -20  
Total industrial production ..... 152.8 • 152.5 • 142.4 r ••  + 7  
Miscellaneous freight carload­ 
ings in S.W. District ....... 80.9 81.7 79.7 -1  + 2  
Total nonfarm employment..... 129.3 • 127.7 • 121.9 r + 1  + 6  
Manufacturing employment ....132.3 • 132.1 • 122.6 r ••  + 8  
Total unemployment 68.4 69.4 81.0  -16  
Insured unemployment . . . . . 54.2 55.2 60.3 -2  -10  
Average weekly earnings- 
manufacturing . . . . . . . . . . . .124..7 • 127.5 • 123.3 r -2  +  
Average weekly hours.-­ 
manufacturing . . . . . . . . . . . . . 99.7 • 101.1 • 101.7 r -1  2  
• Preliminary.  
•• Change it less than one half of 1%.  
r Revised.  
74  


sales to consumers, this excess resulting in a steady in­crease in the level of inventories. The last quarter of 1966 saw an increase in business inventories at an annual rate ·of $16.4 billion, the largest dollar rise in inven­tories on record. 
The inventories of automobiles represent a striking illustration of the way in which inventories can pile up before production can be cut back. Dealers had an in­ventory of 1,475,000 cars on hand February 1, up 6% from a year ago. January production was down 7%, but inventories kept climbing as sales fell off more than pro­duction was cut. Other industries are in a position simi­lar to that of the automobile dealers, and as a result deliveries are being made more promptly than a year ago. The volume of new orders for durable goods fell 5.1% in January after a rise in December. The January decline was the largest in over two years. Since durable goods are generally produced after an order has been placed, the volume of orders received is an important indicator of the level of future production. Because of the unavailability of statistics for orders of Texas manu­facturers, it is necessary to assume that the situation is similar to that prevailing in the country as a whole. The data on industrial production in Texas, which is dis­cussed in the following paragraph, supports the assump­tion that conclusions for Texas orders can be drawn from national data. 
The index of industrial production for Texas, compiled 

by the Federal Reserve Bank of Dallas, rose from 152.5 
in December to 152.8 in January. Although January 
showed a slight rise, this leveling off of the production 
index is in contrast to a steady climb throughout 19.66, 
which averaged more than one point per month. This 
leveling off may represent the end of the upswing in 
Texas industrial production until inventories are brought 
down to more nearly normal levels. 
The index of total industrial production for the United 

States, compiled by the Board of Governors of the Fed­
eral Reserve System, declined from 158.9 in December 
CREDIT RATIOS FOR DEPARTMENT AND APPAREL STORES 

Ratio of  Ratio of  
credit sales  collections tD  
N umber of  to net sales t  outstandi ngs t  
Classification  reporting stores  J an 1967  J an 1966  Jan 1967  Jan 1966  

ALL STORES .... . 28 62.2 62.9 38.5 33.8 
BY TYPE OF ST ORE  
Department  stores  
(over  $1  m illion ) .  7  59.5  61.2  38.0  81.9  
Dry goods and apparel  
stores  . ..  . . . . . .  7  57.6  58.2  39.5  38.8  
Women's  specialty shops.  7  66.8  66.2  32.2  85.1  
Men's  clothing  stores .  5  68.8  64.8  49.8  68.0  
BY VOLUME OF  
NET  SALES  
Over  $1,500,000  ..... 10  62.7  63.5  32.8  83.l  
$500,000  to  $1,500,000 .  6  58.4  58.5  41.0  41.7  
$250,000  tD  $500,000 . ... ..  5  62.3  59.2  43.6  46.5  
Less  than  $250,000 . .. .. ..  7  47.S  51.8  42.1  43.1  

t Credit sales divided by net sales. 

t Collections during the month divided by accounts unpaid on the first of the month. 
to 157.9 in January, while durable-goods manufactures declined from 167.6 to 165.9. The major part of the decline was in consumer durables, · with automobiles turning in the poorest record. However, appliances de­clined 15% from October to December and· still further in January. Television-set production also declined. To an indeterminate extent the unusually severe winter weather may have accounted for some slowdown in pro­duction, but it does not account for all of the decline in durable goods. 
The construction of new plants and the expansion of existing plants went on at a high rate in Texas during 1966 and contributed to the high level of business during the year. This capital expansion in Texas was part of a wave of record spending for new plant and equipment in the country as a whole. The high level of capital investment all over the country added to the purchasing power of consumers, provided an investment for large amounts of savings, and significantly increased the ca­pacity of industry to produce goods. This increased ca­pacity has helped the economy to support the Vietnam War and at the same time build up inventories to a record level. 
In spite of expanding .inventories and reduced orders 

in the durable-goods category, anticipated capital ex­
penditures of manufacturing industries in 1967 were 6% 
above the level of 1966, according to the survey by the 
Department of Commerce and the Securities and Ex­
change Commission published in December. Even though 
this is a small increase compared to that of recent 
years, it is significant that businessmen are planning 
even slight increases. The increase anticipated in durable 
goods would bring the level to 7% above that of 1966, 
and for nondurable goods 4%, reflecting the pressure of 
the demands of the Vietnam War. A study by the Mc­
Graw-Hill Economics Department published in early Feb­
ruary indicated that plans have been revised upward 
since November, with the planned expenditures of manu­
facturing industries now 8% above those of 1966. The 
largest upward revisions were in the durable-goods group, 
where inventory accumulations have been significantly 
large. 
Total retail sales in Texas normally drop in January 

due to strictly seasonal factors, but in both durable-goods 
stores and nondurable-goods stores the drop was some­
what more than the normal decline in January. It was 
particularly true for automotive stores and less pro­
nounced for nondurable-goods stores. Since consumer in­
come continues high, it is not surprising that consumer 
spending has not declined. The rate of increase in sales, 
however, is slowing, and the rate of saving is increasing. 
The rate of consumer borrowing slowed last fall with the 
general tightening of credit, but consumer spending gen­
erally changes direction some time after the more sen­
sitive segments of the economy slow down. 
The rise in prices, which was a significant feature 

of 1966 business activity, seems to have slowed since 
the first of the year. The wholesale price index rose 
only .3 points in January, and the consumer price index 
for all cities remained unchanged from December. With 
the slackening of demand, it appears that the infla­
tionary pull from this factor might be easing, although 
there is considerable likelihood that rising labor costs 
may push prices up during 1967. 
Any precise weighting of the various divergent trends described above is not feasible, but the balance seems to lean toward the conclusion that the total level of business in Texas is holding surprisingly steady in the face of a number of depressing factors. With an ex­pected improvement in the supply of credit and the re­sulting increase in building and with the continuation of the demands from the Vietnam War, there seems to be little basis for concluding that business in Texas will drop to a level much below that of the present. If this is the end of a six-year rising phase of the business cycle, it appears that the recession period, as far as the Texas economy is concerned, will be more of a leveling out of most of the barometers rather than any precipi­tate decline. 
BUSINESS-ACTIVITY INDEXES FOR 20 SELECTED TEXAS CITIES 
(Adjusted for seasonal variation-1957-59=100) 

Percent change  
City  Jan 1967  Dec 1966  J an 1966  J an 1967 from Dec 1966  Jan 1967 from J an 1966  

Abilene Amarillo  152.8 .... 170.3  143.7 163.6  140.9 169.5  + 6 + 4  + 8 ••  
Austin  ... 186.7  185.2  177.9  + 1  +  
Beaumont ........176.0 Corpus Christi ... . 140.5  178.8 140.5  169.1 130.3  2 ••  + 4 + 8  
Corsicana  ........142.9  129.7  136.7  + 10  + 5  
Dallas  ... 208.7  191.6  181.2  + 9  + 15  
El Paso  ........130.7  126.4  114.3  + 3  + 14  
Fort  Worth  ...... 138.0  132.5  127.0  + 4  + 9  
Galveston  .120.6  101.5  115.9  + 19  + 4  
Houston  ........203.4  191.0  181.7  + 6  + 12  
Laredo  ........... 179.2  191.0  168.4  - 6  + 6  
Lubbock  ..........163.4  135.6  188.5  + 21  -13  
Port Arthur  ... 108.8  108.3  109.1  ••  ••  
San Angelo  ....... 150.8  144.2  149.3  + 5  +  
San  Antonio  ... 172.2  161.0  158.9  + 7  + 8  
Texarkana  ........207.1  187.3  174.9  + 11  + 18  
Tyler  .. 152.0  143.3  141.3  + 6  + 8  
Waco  .. 159.7  146.8  151.1  + 9  + 6  
Wichita Falls  .142.7  126.5  150.4  + 13  

•• Change is less than one half of 1 %. 
RETAIL SALES TRENDS BY KINDS OF BUSINESS 
Percent change 
Normal seasonal • Actual 
Number of----------­reporting Jan J an 1967 Jan 1967 establish-from from from 

Kinds of business ments Dec J an 1966 Jan 1966 
DURABLE  GOODS  
Automotive  stores  ..........356  - 1  - 12  - 4  
Furniture and household- 
appliance  stores  ..........169  - 15  - 33  +  
Lumber,  building  material,  
and  hard ware  stores .  . . . . . 225  + 1  - 8  + 2  
N ONDU RABLE GOODS  
Apparel  stores  .248  -46  - 48  + 4  
Drugstores  ..... 192  - 23  - 27  + 2  
Eating  and drinking  places  121  - 2  - 5  + 6  
Food  stores  .374  -18  - 16  
Gasoline and service  
stations  83  - 3  - 8  +  
General-mer chandise  stores.  285  - 53  - 58  + 2  
Other  retail  stores....  . .279  -83  - 82  + 12  

• Average seasonal change from preceding month to current month. 
MILITARY PAYROLLS AND THE TEXAS ECONOMY 1 

Dennis Richardson2 and Stanley A. Arbingast 
In the fiscal year ending June 30, 1966, the Depart­ment of Defense spent $58,391,000,000-42% of the total national cash budget. Of this amount more than $1,283,­000,000 was allocated for military and civilian payrolls in Texas, second among the states in receipts of wage and salary disbursements from the federal government to military and defense-agency personnel. The spendings and savings of defense personnel circulate throughout the entire state, flowing through all economic arteries and capillaries. For some cities and communities they are the essence of economic activity, the very lifeblood of busi­ness vitality. It is estimated that each defense-payroll dollar spent in a community where a military establish­ment is located is respent from two to three times. This respending is known as the "multiplier effect." In San Antonio, where the multiplier effect is especially signifi­cant, an average of 81,000 civilian and military person­nel are employed by the Department of Defense, with to­tal salaries of $482.5 million in fiscal 1966. 
Regional analysis of economic activity has provided 

many insights into the cause-and-effect relationships 
among the various sectors of the economy in a state or 
region. Such information has proved useful in city plan­
ning, in industrial-and plant-location analyses, in meas­
urements of economic dependency, and in forecasting and 
planning for economic growth. 
This analysis is designed to measure the economic 
impact of United States Department of Defense alloca­
tions for salaries and wages within the state of Texas. 
It acknowledges the importance of military activities for 
national defense and the significance of other social and 
political implications, but makes no attempt to analyze 
noneconomic factors. Defense procurement expenditures 
also, which were estimated to be well over $1.5 billion 
in 1966, have not been included. The exclusion of these 
other considerations should not minimize the significance 
of this appraisal, but should rather highlight the con­
tribution of the military to the growth of the Texas 
economy. 
In 1835 Texas had no military payrolls, but in 1967 
thousands of civilian and military personnel are en­
gaged in a broad variety of tasks in over 40 active 
military establishments. Activity at most of these estab­
lishments was stepped up noticeably in 1965 and 1966 
because of the war in Vietnam. About 10% of the na­
tion's resident military personnel, according to federal 
estimates, are stationed in Texas. 
The Beginning of Militarv Activities in Tezaa 
The first plans for a Texas military force were made in October 1835, when a group of the state's leaders met 
1The authors wish to acknowledge the aulatance of Robert K. Gaynor, of Houston, and the late Fred Dickey, of Fort Wo.rth, In the prepara­tion of this manuscript. 
2Mr. Richardson la a doctoral candidate in the Department of Finance, Graduate School of Buainesa, The University of Texas. 

at San Felipe de Austin. This group, called the Con­sultation, attempted to organize 150 rangers and a regu­lar army of 1,120 men. These plans, however, never ma­terialized; in fact, at no time before the Battle of San Jacinto, which led to the capture of Santa Anna and the independence of Texas, were there more than 100 regu­lars under arms. 
The army which fought at the Battle of San Jac~nto consisted mainly of a handful of volunteers gathered at Gonzales. By March of 1836, when Sam Houston took command, their number had increased to 374. Volunteers continued to arrive as the army retreated toward the Brazos River, and by April approximately 1,200 to 1,400 men were on hand. Finally, at the Battle of San Ja­cinto, the troops numbered about 780. 
The Texas volunteers, which dispersed and went home after San Jacinto, were replaced by volunteers from the United States. Almost 2,500 men constituted the army by July of 1836, but the treasury did not have the funds to support such a large military force, and by May of the following year, most of them were furloughed. 
Because of the threat of an invasion from Mexico, a handful of troops was maintained until the danger passed and most of them went home. The Texas Fifth Congress failed to make an approriation for a regular army, and from 1841 until annexation by the United States on December 29, 1844, only a few Ranger com­panies were supported by the Texas government. 
Status of the Militarv in Tezaa Today 

In contrast to such a modest beginning the military in Texas today is big business. Stationed in the state are approximately 175,000 military personnel, who receive over $800,000,000 annually in salaries and wages. Military activities in Texas under the United States Department of Defense are conducted by all branches of the Armed Forces: the United States Army: (including the National Guard), the United States Air Force, the United States Navy-(including Marines), and the United States Coast Guard, all of which make payroll disbursements to both civilian and noncivilian personnel. In addition, the United States government supports five major defense­related agencies employing civilian personnel: The De­partment of Defense, the National Aeronautics and Space Administration, the Atomic Energy Commission, the Se­lective Service Commission, and the Office of Emergency Planning. 
In Texas 43 military installations are geographically 

dispersed throughout the state. The missions of these 48 
establishments include training of airplane and helicopter 
pilots, overhaul and repair of aircraft and other kinds 
of defense equipment, general hospital services, produc­
tion of ordnance items, security services, research in 
aviation medicine, armored-tank training, missile defense, 
engineering and headquarters functions, supervision of 
mothballed vessels, National Guard training, and many 
others. Military bases are concentrated at San Antonio, Dallas-Fort Worth, Corpus Christi, Houston, and El Paso. Air Force bases account for the largest number, and the Air Force payrolls are by far the largest. 
In a community where a military establishment is lo­cated, expenditures for goods and services directly at­tributable to Department of Defense payrolls have far­reaching economic effects. Personnel stationed at military installations rely on thousands of Texans-farmers, ranchers, businessmen, and bankers-for food, housing, labor, building materials, hard goods, automobiles, luxury items, loans, and investment of their savings. 
For the fiscal year 1965 the Texas payroll for military­and civilian-defense personnel increased $13.7 million over 1964, making an annual payroll of $1,196 million. Only California exceeded Texas in total defense income received, with Virginia, Pennsylvania, and New York following in order. 
Among the five states receiving the largest defense 

payrolls Virginia had the highest percentage of defense 
income per total personal income, 9.2%. Texas was sec­
ond, with close to 5%, followed by California with 3.4%, 
Pennsylvania with 1.8%, and finally New York with less 
than 1o/o. Significantly, the Texas economy generally ls 
not greatly dependent on income generated by the De­
partment of Defense, but communities such as San An­
tonio, El Paso, Del Rio, Corpus Christi, Laredo, and Bee­
ville are much more dependent on military payrolls than 
are most other Texas locations where defense installations 
are situated. 
Employment and Income Effects of the Military in Tezas 
A simplified view of a state economy may encompass three major sectors-the business sector, the consumer sector, and the government sector. The business sector produces goods and services for the consumers, who pay money to the businessman in the form of prices. These same consumers have jobs, which help to produce the goods and services, and in return for their efforts the consumers receive salaries and wages. Economic growth can occur when consumers save some of their income, which businessmen borrow to increase productive facilities, in other words, through the respending mul­tiplier effect. Growth can occur also in other ways, as when income is added to the state's economy from an­other source, for example, when new businesses are started, or when businesses or people move into the state 

from another area of the country, or when the federal government spends money in the state. 
Today the federal government plays an important role in the economic affairs of each state-a function which has become increasingly deliberate since the early 1930's. The largest single account of federal government expen­ditures continues to be that for defense and associated activities. In the fiscal year ending June 1965 the De­partment of Defense allocated over $14.5 billion for an­nual pay and allowances. In this same fiscal year over 
2.5 million individuals were employed by the Department of Defense. 
When defense employees are stationed at specific in­stallations throughout the United States and abroad, they receive salaries and wages which are only partly generated in local communities. Most of the expenditures and savings of these personnel represent new income to the community. Their salaries and wages from the federal government enable them to purchase and consume the products and services which are produced by others in the local community. The additional demand of these consumers stimulates the business sector of the economy to produce more. In order to ·increase production, busi­nessmen must increase productive facilities and hire more workers. Higher wages and more employees in turn create greater demand and additional productive facilities. This multiplier effect stimulates the local and state economies and contributes greatly to economic growth. 
In 1965 Texas defense income amounted to approxi­mately $1.2 billion. Active-duty military income was $798 million and civilian defense income was $398 million; together they equaled nearly 5% of all personal income in Texas. In this same year income generated from De­partment of Defense wage and salary disbursements was almost twice as large as wage and salary income from Texas crude-petroleum and natural-gas production, more than four times total farm income, and more than seven­teen times greater than the salaries and wages paid to all people employed in amusement and recreation. 
Consumption and Investment Effects of the Military in Tezas 
Consumer spending for goods and services can be 

analyzed as depending on three main factors: disposable 
income, credit conditions, and consumer expectations. It 
requires, however, only a glance at the evidence to show 
that disposable income is a major determinant of con­
sumption. In other words, consumption depends mainly 
(Continued on page 80) 

Table I 
DEPARTMENT OF DEFENSE PAYROLLS AND TOTAL PERSONAL INCOME 
FOR THE FIVE STATES WITH THE LARGEST DEFENSE PAYROLLS, 1965• 

Payroll disbursements 
Active-duty military•• Civilian•• Total** Payroll disbursements Total personal as percent of total 
State (millions of dollars) income••• personal income 
California  . . . . . . . . . . . . . . . . . . . . . . . . . . . .  988  1,047  2,080  59,958  8.4  
Texas  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  798  898  1,196  24,761  4.8  
Virginia  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  444  540  984  10,691  9.2  
Pennaylvanla  . . . . . . . . . . . . . . . . . . . . . . . . .  77  510  587  81,816  1.8  
New  York  ........ ·....................  174  842  516  59,850  0.9  

• Fiscal year 1966 data not available for some states. 

•• Directorate for Statistical Activities, Office of Secretary of Defense, September 14, 1965. ••• S1u·11e11 of C"n-ent Buaineaa, U.S. Department of Commerce, Office of Business Economics, AulNSt 1966 (Vol. 46, No. 8). 
MILITARY AND CIVILIAN PERSONNEL: AVERAGE STRENGTH AND ESTIMATED PAYROLLS 
BY MAJOR INSTALLATION-STATE OF TEXAS, FISCAL YEAR 1966* 
(By city in north~south order) 

Civilian personnel Military personnel 
Average Payroll Average Payroll Military bases number (in thousands) number (in thousands) 
1.  Amarillo AFB-Amarillo 1,373  9,964  6,602  35,235  
2.  Sheppard AFB-Wichita Falls 2,492  17,913  11,954  62,178  
3.  Perrin AFB-Sherman 817  5,386  2,493  15,002  
4.  Red River Army Depot-Texarkana 4,738  31,100  252  1,100  
5.  Reese AFB-Lubbock 669  4,625  2,235  15,973  
6.  Fort Wolters (Army)-Mineral Wells 465  3,300  1,646  7,500  
7.  Carswell AFB-Fort Worth . . . . ...... . 461  4,781  4,608  26,497  
8.  Fort Worth General Depot (Army)-Fort Worth 371  2,600  7  50  
9.  Fort Worth Engineering District (Army)­Fort Worth 783  6,100  
10.  Dallas Naval Air Station-Dallas . . ..... . . 194  1,594  950  4,755  
11.  Southwestern Engineering District (Army)­ 
Dallas 240  1,900  
12.  Webb AFB-Big Spring . .. . . . . .. . . .. ... . . . .. . 710  4,931  2,900  19,298  
13.  Dyess AFB-Abilene 387  2,633  5,549  31,837  
14.  Biggs AFB-El Paso . 289  2,204  1,478  8,409  
15.  Fort Bliss (Army)-El Paso 3,210  22,400  17,255  62,400  
16.  William Beaumont General Hospital (Army)­El Paso ........... . .... . ........... . ..... . 482  3,500  913  4,900  
17.  Headquarters 12th Air Force-Waco .. . . .. .. . . . . . 79  499  559  4,119  
18.  James Connally AFB-Waco .. . 574  3,477  1,721  13,524  
19.  Goodfellow AFB-San Angelo . 340  2,364  3,126  16,248  
20.  Fort Hood (Army)-Killeen . 2,651  18,100  28,299  107,100  
21.  Bergstrom AFB-Austin ......... . 388  2,418  3,465  19,670  
22.  Orange Naval Base-Orange .. . . . . .. .. .. . . .. .. . . 177  1,166  37  240  
23.  904Ellington AFB-Houston .... . . . . .. . . .  5,875  539  3,299  
24.  531Laughlin AFB-Del Rio  3,419  2,449  16,869  
25.  Brooke Army Medical Center-San Antonio .. 1,123  8,200  4,142  20,300  
26.  Fort Sam Houston (Army)-San Antonio . 2,737  18,100  7,902  31,900  
27.  Kelly AFB-San Antonio . . . . . . . . . . . .. . . . . . . 20,363  154,356  5,671  32,410  
28.  Randolph AFB-San Antonio ....... . ... .... . 2,121  15,463  5,005  34,976  
29.  Brooks AFB-San Antonio . . . . ..... .. . . . . . . 1,326  9,658  1,317  8,346  
30.  Lackland AFB-San Antonio .. .... .. . . . . . 1,972  13,129  27,332  135,702  
31.  Galveston Engineering District (Army)­Galveston 390  3,000  4  
32.  Auxiliary Naval Air Station-Beeville ..... . . ... . 225  1,523  1,984  9,763  
33.  Laredo AFB-Laredo ... .. .. ............ . .. . . . . 698  4,273  1,971  13,882  
34.  U.S. Army Transportation Aero Depot Maintenance Center-Corpus Christi . . 2,445  16,100  436  1,800  
35.  Naval Air Station-Corpus Christi 1,055  7,003  4,266  23,797  
36.  Auxiliary Naval Air Station-Kingsville 255  1,745  2,058  10,348  
Other Army Activities . .. 1,769  12,600  2,766  11,600  
Other Air Force Activities 1,479  10,858  16,782  22,544  
Other Naval Activities  677  13,373*  
Total Army . . . ....... . 21,404  147,000  63,622  248,600  
Total Air Force . . . . . . . . . . 37,973  278,226  107,756  536,018  
Total Navy . . . . . . . . . . . . . . 1,906  13,031  9,972  52,276  
TOTAL ALL INSTALLATIONS .. . . .. .. 61,283  438,257  181,350  846,949  

*No data were available for these installations: a. Army Personnel Management Team-Dallas; b. Longhorn Army Ordnance Works-Marshall; c. Killeen Base (Army)-Killeen; d. U.S. Army Reserve, 90th Infantry Division­Austin; e. Eighth Army Corps-A~stin; f. p.s. Army Res~rve, 75th Maneuver Area Command-Houston; e. Regional Office, Army and Air Force Exchange Service-San Antoruo. 
Source: The Office of Senator John G. Tower. 

MAJOR MILITARY INSTALLATIONS 
IN TEXAS, 1966 

AMARILLO•  
LUBBOCK• MINERAL WELLS• CALLAS ... •\ FORT WORTH BIG SPRING• ABILENE• SAN ANGELO• WACO.. KILLEEN 9*  •TEXARKANA MARSHALL*  
'*AUSTIN  
SAN  ANTONIO ii.'  
CORPUS BEEVILLE•  

*No data were available for these mll.ltary Installations. 
Note: Installations are listed by city and In north-south order on facing page. 

upon the amount of income available to people, and, therefore, changes in income cause fluctuations in con­sumption, employment, and economic activity. 
Disposable personal income is total personal income less personal taxes and nontax payments (other general government revenue from individuals). The income real­ized by individuals after taxes is either spent for con­sumption or saved. National-income figures for the years 1960 through 1965 indicate that individuals consumed on the average 92% of their disposable income, and saved the remainder. Approximately one dollar was saved for every fifteen spent, and this relationship remained rela­tively stable for the six-year period. 
Table II 
RELATIONSHIP OF CONSUMPTION AND SAVINGS OUT OF DISPOSABLE PERSONAL INCOME IN THE UNITED STATES, 1960-1965* 
1960 1961 1962 1963 1964 1965 (billions of dollars) 

Total personal income .........402.2 417.4 442.1 464.8 495.0 630.7 

Less personal taxes and nontax payments 60.4 52.9 67.7 60.9 69.2 64.4 Disposable personal income. ... 351.8 364.4 384.4 403.8 435.8 465.3 Savings 22.9 27.6 29.1 20.4 26.3 24.9 Consumption .328.9 336.8 356.4 373.8 398.9 428.7 Percentage consumed of disposable personal income. 93 92 92 93 92 92 
•Totals may not add due to rounding. 
Nationii.1-income data for the same period indicate the major areas of consumer spending. As the accompanying table of U.S. Personal-Consumption Expenditures indi­cates, the greater part of consumer expenditures was for nondurable goods, mainly food and beverages, clothing and shoes, and gasoline and oil. For the six-year period expenditures for nondurables averaged $167.2 billion per year, or approximately 45% of the total consump­tion expenditures in the United States. 

The next largest consumption category is for services, comprising an average of 41% of yearly consumer spen:d­ing. Services include, among other things, housing, house­hold operations, and transportation. Housing averaged 52% of the total for all service expenditures, followed by household operation with 22.5%, and transportation with 11%. Durable-goods expenditures averaged 14% of total consumer spending, with automobiles and automo­bile parts accounting for 23% and furniture and house­hold equipment 22% of total durable goods. 
Consumption and savings patterns for individuals in the United States can be applied to the income generated from Department of Defense payrolls in Texas. Al­though some variations can be expected in the distribu­tion of consumer expenditures between United States figures and those. for a single state, the general frame­work may be accepted for the state with some degree of reliability. 
Military-and civilian-defense personnel income in Tex­

as for the fiscal years 1965 and 1966 amounted to $1,189 
million and $1,284 million respectively. After deductions 
for estimated taxes, disposable personal income-created 
by Department of Defense disbursements-averaged 
$1,081 million annually for the two-year period. Of this 
amount, approximately 7% or $69 million wer~ saved each 
year. Expenditures for goods and services averaged 
$1,012 million each year. Actual estimates show consump­
tion expenditures were $973.5 million in 1965 and $1,050.2 
million in 1966. In one year's time consumption expendi­
tures increased nearly $77 million, exhibiting a substan­
tial growth tendency. 
The estimated distribution of consumer expenditures 

resulting from disposable income generated by Depart­
ment of Defense payrolls in Texas is presented in the 
accompanying table. In fiscal 1966 an estimated $475 
million was spent on nondurable goods. Civilian defense 
personnel spent $163 million and military employees 
spent $312 million. The greatest amount in the non­
durable category, $248 million, was spent for food and 
beverages. Clothing and shoes accounted for $88 million, 
and $37 million was expended on gas and oil. 
Table III 
NATURE AND PERCENTAGE DISTRIBUTION OF PERSONAL-CONSUMPTION 
EXPENDITURES IN THE UNITED STATES, 1960-1965• 

1960 1961 1962 1963 1964 1966 Six-1960 1961 1962 1968 1964 1966 Six-
year year(billions of dollars) average (percentage distribution) •• average 
Durable  goods,  total  44.3  43.6  48.2  63.4  68.7  66.0  62.2  13.6  12.9  18.6  1(.8  14.7  16.1  14.0  
Automobiles  and  parts . .. . . . .. . . .  18.6  17.1  20.4  24.3  26.8  30.0  22.7  6.6  6.1  6.7  6.6  6.6  7.0  6.1  
Furniture and  household  
equipment  18.8  19.2  20.2  21.9  24.7  26.0  21.8  6.7  6.7  6.7  6.8  6.2  6.1  6.9  
Nondurable  goods,  total . ... .. .... ..  .162.4  166.1  161.4  168.0  177.6  189.0  167.2  46.8  46.0  46.4  44.9  44.6  44.1  46.2  
Clothing and shoes... . .  28.1  28.6  29.8  30.6  33.3  36.1  80.9  8.6  8.6  8.4  8.2  8.8  8.2  8.4  
Food and beverages. .. ...... ..  80.1  81.1  84.2  88.2  92.8  98.4  87.4  24.8  24.8  28.7  28.6  28.1  22.9  28.6  
Gasoline and oil. . . . . ... .. .....  11.6  11.9  12.8  13.6  14.0  14.7  13.0  3.5  8.5  8.6  8.6  8.6  8.4  8.6  
Services,  total  .. .........  .132.2  138.0  146.7  162.3  162.6  174.7  160.9  40.2  41.0  41.0  40.7  40.8  40.7  40.7  
Household  operation  19.6  20.4  2U  23.1  24.4  26.8  22.6  6.0  6.0  6.0  6.2  6.1  6.0  6.0  
Housing  ...... ... .. .....  42.2  44.1  46.6  66.6  69.6  64.7  62.1  12.8  18.1  18.1  14.8  14.9  16.1  14.0  
Transportation  10.6  10.7  11.8  11.4  11.7  12.2  11.3  8.1  8.2  8.2  8.0  2.9  2.8  8.0  
Total  personal-consumption  
expenditures  ...  ···········  .328.9  386.8  866.4  378.8  898.9  428.7  870.4  100  100  100  100  100  10-0  100  

•Source: Survey of Current Business, June 1962: June 1964; and June 1966. 
•• Totals may not add due to rounding. 

TEXAS BUSINESS REVIEW 

MILITARY AND CIVILIAN PAYROLLS BY STATES, 1965 
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. MILITARY CIVILIAN 
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-100 ALASKA $137. 571 .000 $57, 311,000 CIVILIAN MILITARY HAWAII $182.799,000 $120.789,000 
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Service expenditures, amounting to over $427 million, were the second largest major category of consumer spending. Defense employees spent an estimated $147 million for housing, $63 million on household operation, and over $31 million for transportation other than auto­mobiles and maintenance-gas, oil, and repairs. 
Table IV 

INCOME GENERATED FROM PAYROLLS BY TEXAS MILITARY INSTALLATIONS, FISCAL 1965 AND 1966* 
1965 1966 
Civilian Military Total Civilian Military Total (millions of dollars) (millions of dollars) 

Military and civilian personnel income ...387.9  800.8  1,188.7  488.2  846.9  1,286.1  
Less estimated govern­ment taxes  48.6  100.1  148.6  65.6  106.8  161.8  
Disposable personal income  .. 889.4  700.7  1,040.1  384.8  737.2  1,122.0  
Savings Consumption  21.7 .. 817 .7  44.9 666.8  66.6 973.6  24.6 360.2  47.2 690.0  71.8 1,060.2  

•Source: Income data are from the office of Senator John G. Tower. Taxes, consumption, and savings relationships are based on national data. 
A more thorough analysis of the impact of defense payrolls on economic growth in Texas would include an application of the multiplier and accelerator effects of income and investment. Economic growth is a cumulative process. The multiplier concept helps to demonstrate the effects of new investment in a given year combined with new-income increments which result from the investments made in previous years. The theory of the multiplier points out that when there is an increase in investment there will be a corresponding increase in income several times greater than the amount of original investment. 
A much more complex and sophisticated analysis of in­vestment is based on a combination of the multiplier concept and the acceleration principle. Basically, the 
Table V 
DISTRIBUTION OF CONSUMER EXPENDITURES OUT OF 
INCOME GENERATED FROM PAYROLLS BY TEXAS 
MILITARY INSTALLATIONS* 

Fiscal 1966 Fiscal 1966 
Civilian Military Total Civilian Military Total (millions of dollars) (millions of dollars) 
Durable  goods,  total  ...  44.6  91.8  136.3  60.4  96.6  147.0  
Automobiles and parts  19.4  40.0  69.4  22.0  42.1  64.1  
Furniture and household  
equipment  .. .... .. .  l8.7  88.7  67.4  21.2  40.7  61.9  
Nondurable goods,  total  143.6  296.4  440.0  162.8  311.9  474.7  
Clothing  and  shoes .  26.7  66.1  81.8  ~0.3  68.0  88.8  
Food and beverages...  70.0  164.8  229.8  86.0  162.8  247.8  
Gasoline and oil .. .. .  ll.1  22.9  34.0  12.6  24.1  86.7  
Services, total  .129.3  266.9  396.2  146.6  280.8  427.4  
Household operation  19.1  39.3  68.4  21.6  41.4  68.0  
Housing  .... .. .. .. .  44.6  91.8  136.8  60.4  96.6  147.0  
Transportation  ..  9.6  19.7  29.2  10.8  20.7  81.6  
Total personal-consump­ 
tion  expenditures••  317.7  666.8  973.6  860.2  690.0  1,060.2  

• Estimates based on percentage distribution of personal consump­
tion expenditures in United States. 
•• Totals may not add due to rounding. 


principle of the accelerator asserts that a change in the demand for consumer goods will result in a much greater change in the demand for producers' goods. Producers' goods-machines and capital equipment which are used in the manufacture of consumer products--are defined as investment. The concept of the accelerator demon­strates the effects on investment which result from in­creased consumer spending, and the multiplier illustrates the impact on an economy's growth as measured by income resulting from an increase in investment. 
Mention is made of the multiplier and accelerator con­cepts only to give some appreciation of the magnitude of the economic effects of income and investment over an extended period of time. The complete significance of defense salaries and wages, as they relate to the growth of the Texas economy, is determined by both their im­mediate impact and their cumulative effects. When sal­aries are paid to individuals they represent income, and when that income is spent for a product it represents income to the seller, who, in turn, makes another buying decision. 
Interest in the economic growth in Texas stems in 

large part from a concern for the welfare of the state's 
citizens. No one set of criteria is acceptable; of course, 
for the measurement of welfare, but it is probably gen­
erally agreed that material well-being is a matter of 
income and consumption per capita. An increasing level 
of material well-being in any state or nation requires 
an expansion of real output and the generation of new 
income. The income which is generated out of the De­
partment of Defense payrolls in Texas makes a contribu­
tion to the continuing expansion of the Texas economy. 
PRELIMINARY ESTIMATES OF TOTAL RETAIL SALES IN TEXAS 
(millions of dollars) 

Percent changes  
Jan 1967  Jan 1967  
Type of store  JanuaryP 1967.  from Dec 1966  from Jan 1966  

Total .... .... .... .. .... .l,282.0 -28 8
+ 

Durable goods •• 42.8.0 
-14 7
+ 

Nondurable goods ...... ....... 864.0 -27 9

+ 
P Preliminary. 
• 	Bureau of Business Research estimates based on data from the Bureau of the Census. 
•• Contains automotive stores, furniture stores, and lumber, building material and hardware stores. 
TEXAS INDUSTRIAL PRODUCTION* 
lndu-Adjuat.d for SHaona/ Varjatlon-lfS1· 1fSl•IOO 


TEXAS BUILDING CONSTRUCTION AUTHORIZED IN JANUARY 
Robert B. Williamson 
The seasonally adjusted level of building authorized in Texas advanced only slightly in January, and the slight gain was from a very low December level. The January index of construction authorizations, at 106.6% of the 1957-59 average, was only 1 % higher than the December index of 105.3%, and the latter was the lowest level in five years. Compared with a year earlier, January authorfaations were down 19%. 
Declines in both residential and nonresidential build­ing had brought the Texas authorizations, or permits, total down to its low December level. A further J anu­ary decrease in the seasonally adjusted value of non­residential authorizations largely offset an upturn in the adjusted level of residential permits. 
Nonresidential building authorizations iri Texas had 
ESTIJ\IATED VALUES OF BUILDING AUTHORIZED IN TEXAS 
Percent change · J an Jan 1967 1966 Jan 1967 Jan 1967 --------from from Classi fleation (thousands of dollars) Dec 1966 Jan 1966 
ALL  P ERMITS  .. 108,525  133,237  + 23  -19  
New  construction  95,609  121.591  + 25  -21  
Resident ial  (housekeeping)  51,281  66,273  + 66  -23  
One-family  dwellings  40,939  52,809  + 72  -22  
Multiple-family  
dwellings  . . . . . . . . . . .  10,342  13,464  + 47  -23  
Nonresidential  buildings .  44,328  55,318  - 3  -20  
Nonhousekeeping  
buildings  (residential)  117  447  - 68  -74  
Amusement  buildings  117  447  - 68  -74  
Churches  . . . . . . . . . .  2,592  1,974  + 11  + 81  
Industr ial  buildings  6,894  13,256  + 63  -48  
Garages  (commercial  
and  private)  315  1,270  + 6  -75  
Service  stations  1, 788  1,316  + 98  + 86  
Hospitals  and  
institutions  1,858  2,606  -74  -29  
Office-bank buildings  3,446  3,848  + 44  -10  
Works and utilities  913  2,547  -37  -64  
Educational buildings  16,474  14,179  - 2  + 16  
Stores and mercantile  
buildings  7,616  9,331  -11  -18  
Other buildings and  
structures  871  3,792  + 45  -77  
Additions,  alterations,  
a nd  repairs  lZ,916  ll,646  + 10  + 11  
METROPOLITAN vs.  
NONMETROPOLITAN t  
Total  metropolitan  ..  89,394  113,751  + 15  -2.1  
Central  cities  67,472  82,220  +, 8  -18  
Outside  central  cities .  21,922  31,531  + 47  -so  
Total  nonmetropolitan  19,131  19,486  + 72  - 2  
10,000  to  50,000  
population  11,932  8,460  + 95  + 41  
Less than 10,000  
population  7,199  11,026  + 43  -85  

t As defined in 1960 Census. •• Change is less than one half of l % . Source: Bureau of Business Research in cooperation with the Bu­. reau of the Census, U.S. Department of Commerce. 
MARCH 1967 generally maintained a high pace through the first eight months of 1966, but this category of authorizations, ex­cept for a spurt in November, had weakened during the fall of the year. The January index of nonresidential authorizations, at 130.4% of the 1957-59 average, was down 13% from December and was 20% below the Jan­uary 1966 level. 

Types of nonresidential construction accounting for the largest dollar declines in authorizations from a year ago were industrial buildings, stores and mercantile buildings, works and utilities, and miscellaneous struc­tures other than buildings. These, incidentally, include the types of construction which often show declines dur­ing recessions in general business activity. These same categories also registered decreases from December to January, except for industrial-buildings authorizations, which showed a fairly large month-to-month rise. Ma­jor industrial buildings authorized in January included a $1.5-million hospital-supplies warehouse at Grand Prai­rie in the Dallas-Fort Worth area and a $1.2-million chemicals plant in El Paso. 
January authorizations for hospitals and other insti­

tutional buildings, while showing only a moderate dollar 
decline from January 1966, registered the largest decline 
from December of any category of nonresidential build­
ing. Gains from a year earlier were the largest in ab­
solute dollar amounts in the case of the educational­
buildings category. The largest single educational-build­
ing authorization during January was for a $2.4-million 
public school building in Dallas. Another major public 
school authorization, also in the Dallas area, was for a 
$1.1-million high school at· Irving. Over one fifth of the 
total value of permits for educational buildings in Texas 
during January were issued to universities and colleges. 
The largest building authorizations in this latter category 
were for a $1.4-million building at St. Mary's University 
in San Antonio, a $1.1-million science building at Hardin­
Simmons University in Abilene, and a new building 
costing about $860,000 at Bishop College in Dallas. 
The construction picture for the nation. during Jan­

uary was similar to that shown by building authoriza­
tions for Texas. The seasonally adjusted value of 
new construction put in place in the nation during Janu­
ary rose only slightly-and from a depressed December 
level-according to preliminary estimates. The actual value 
of new construction during January was down 10% 
from January 1966. Complete details are not available 
from the preliminary report on the types of construction 
accounting for the largest parts of the year-to-year de­
cline for the nation. It appears, however, that some of 
the categories experiencing large declines were residential 
buildings, commercial buildings, nonmilitary public build­
ings, and some miscellaneous kinds of public construction. 
Prospects for private nonresidential-building construc­

tion throughout the nation are indicated by recently 
completed surveys of business plans for new plant and equipment spending during 1967. A January survey by the McGraw-Hill company showed that American busi­nesses plan to spend 6.3% more for new plant and equip­ment during 1967 than they spent in 1966. This is higher than the 5% gain forecast for 1967 in a similar survey made last fall, but it is below the actual 17% gain recorded for 1966 spending. Another study, made by the government during November and December, indicated that the planned level of 1967 investment spending would have been about 3% higher had it not been for the temporary repeal of tax incentives for such invest­ments this year. 
The latest McGraw-Hill survey revealed some major shifts in plans by industries which are especially im­portant to the Texas economy. The aerospace manufac­turing industry now plans to increase its spending for new plant and equipment during 1967 to a level 7% higher than in 1966. In the previous survey, made last fall, the aerospace industry had reported plans to reduce 1967 investment expenditures 6% below the 1966 level. The electronics and electrical machinery industry now plans a 23% spending increase, compared with a 16% rise scheduled earlier. The petroleum and coal products industry likewise raised its planned increase from 10% to 12%, and overall spending plans by the mining in­dustry were changed to a 14% increase from a 3% re­duction. On the other hand, chemicals producers have cut back their scheduled increase in investment spending from 4% to 1%, and the food-proceJ!sing industry now plans a 1 % reduction in 1967 spending instead of a 6% in­crease, which had been planned at the time of the earlier survey. 
Residential building, in contrast to the slower growth or declines being indicated for various kinds of non­residential building, is showing hopeful signs of re­covery in both the state and the nation. The seasonally adjusted index of residential construction authorized in Texas had followed a persistent and steep downtrend during most of 1966 to reach a monthly low of 64% of the 1957-59 average in September. This was the lowest monthly value for the index in nearly ten years. Since September the adjusted level of residential au­thorizations in Texas has shown an irregular rise to reach an index value of 87.4% in January. Although 
ONE-FAMILY, TWO-FAMILY, AND APARTMENT-BUILDING DWELLING 
UNITS IN METROPOLITAN AREAS, JANUARY 1967 
(Value in thousands of dollars) 

APARTMENT-BUILDING DWELLING 

ONE-FAMILY DWELLING UNITS  TWO-FAMILY DWELLING UNITS  UNITS  
Percent change  Percent change  Percent change  
Jan 1967  Jan 1966  Jan 1967 from Jan 1966  Jan 1967  Jan 1966  Jan 1967 from Jan 1966  Jan 1967  Jan 1966 Jan 1967 from Jan 1966  
Metropolitan area  Value  No. of units  Value  No. of units  Value  No. of units  No. of Value units  No. of Value units  Value  No. of units  Value  No. of units  Value  No. of units Value  No. of units  

Abilene  . . . . . . . . .  160  7  271  14  -41  - 50  0  0  20  2  - 100  -100  0  0  0  0  
Amarillo  . . . . . . . . . . . . .  762  88  767  87  - 1  - 11  0  0  0  0  40  8  0  0  
Austin  . . . . . . . . . . . . . . .  8,057  150  2,592  119  +  18  +  26  278  24  518  84  - 46  -29  190  20  190  82  ••  -87  
Beaumont-Port Arthur- 
Orange  428  26  484  82  - 8  - 19  85  2  0  0  0  0  500  101  -100  -100  
Brownsville-Harlingen·  
San  Benito  .  61  5  107  18  -48  - 62  42  14  0  0  0  0  0  0  
Corpus  Christi  907  75  1,541  181  - 41  - 48  0  0  0  0  365  64  61  6  +498  +967  
Dallas  .. . ..... .  9,823  554  11,096  648  - 16  - 15  494  88  309  28  +  60  + 86  1,490  310  4,950  890  - 70  -65  
El  Paso  2,284  180  1,998  119  +  15  +  9  0  0  16  2  - 100  -100  0  0  123  16  -100  -100  
Fort  Worth  8,408  241  3,986  288  - 15  - 16  102  14  36  6  +  183  +133  1.013  192  884  93  +164  +106  
Galveston-Texas City  ..  482  26  208  14  +108  +  86  0  0  0  0  30  8  0  0  
Houston  . .... .. . . . .  7,659  486  14,357  751  - 47  - 42  50  6  125  24  - 60  -75  3,863  703  8.o78  440  +  26  + 60  
Laredo  ......... .. .. ..  so  6  129  25  -77  - 76  0  0  0  0  0  0  0  0  
Lubbock  . . ... ... . ... . .  781  35  1,661  98  -56  - 62  0  0  60  4  - 100  -100  235  36  1,888  297  - SS  -88  
McAllen-Pharr- 
Edinburg  .  260  84  840  41  -24  - 17  2  2  4  2  50  ••  0  0  0  0  
Midland  . .... . .. .. . . . .  897  19  601  82  -84  - 41  0  0  0  0  70  12  0  0  
Odessa  ......... .. .. .  181  11  891  19  -54  - 42  0  0  0  0  70  14  126  24  -44  -42  
San  Angelo  ... . .... .  821  24  154  18  +108  +  86  0  0  0  0  0  0  0  0  
San Antonio  .. .  2,198  208  2,199  199  ••  +  2  106.  16  4  2  +2550  +700  444  52  628  111  - 15  -58  
Texarkana  ...... .  46  4  186  14  -66  - 71  0  0  0  0  0  0  0  0  
Tyler  . . . . . . . . . . . . . . . .  287  15  785  88  -63  - 61  0  0  0  0  400  50  0  0  
Waco  . . . . . . . . . . . . . . .  800  18  416  25  -28  - 28  0  0  51  6  - 100  -100  0  0  0  0  
Wichita Falls  ..  20  239  14  + 19  +  48  0  0  0  0  0  0  0  0  
TOTAL METROPOLI­ 
TAN  AREAS  . . . .  88,506  2,072  44,408  2,679  -25  - 28  1,109  116  1,188  110  8  +  5  8,210  1,469  11,817  2,010  -27  -27  
NONMETROPOLITAN  
AREAS  5,991  481  6,785  508  - 11  - 15  118  16  209  28  46  -43  847  155  646  187  +  81  + 18  
TOTAL FOR STATE  .89,497  2,508  51,188  8,187  -28  - 21  1,222  182  1.847  188  9  - 4  9,057  1,624  11,968  2,147  -24  -24  
84  TEXAS BUSINESS REVIEW  

the January level is still 23% lower than a year earlier, it reflects seasonally adjusted gains of 28% from the preceding month and 37% from the September low. 
All categories of residential building shared in the January improvement from the preceding month, bl,lt the largest increase was for single-family houses. Mul­tiple-family dwellings, nevertheless, showed a respectable month-to-month increase in authorizations. The largest individual apartment projects authorized in the state during January included a 192-unit project costing over $1 million in Fort Worth, a 174-unit project worth $751,000 in Dallas, another 114-unit project costing about $627,000 at Garland, in the Dallas area, and a project at Pasadena, in the Houston area, which will have 149 units and will cost . $900,000. 
National housing starts likewise have turned upward 

during recent months. In January total private housing 
starts in the nation increased for the third straight 
month to reach a seasonally adjusted annual rate of 
1,243,000 units. The January rate, while nearly 23% below 
that of a year earlier, reflected gains of about 15% from 
December and 48% from the post-World War II low 
registered in October. Indicating a probable further im­
provement in national housing starts, the total number 
of new housing units authorized by building permits in 
12,000 permit-issuing places throughout the country also 
showed strong gains in January. The adjusted number 
of units in permits during January was up nearly 18% 
from December and 25% from the October low. 
Although the upturn in housing may not continue dur­
ing the next few months at its initial rapid pace, it ap­
pears fairly certain that the upturn is genuine and not 
merely an erratic fluctuation. The basic market for hous­
ing is sound and expanding. Such a condition is indi­
cated by the present low vacancy rates for housing and 
the fact that the nation is entering a period of ac­
celerated growth in the number of family formations. Of 
greater immediate importance in the current revival of 
homebuilding is the fact that the tight-money conditions 
which had been largely responsible for the depressed state 
of the housing industry have begun to ease. This easing 
is in response to a slackening of other demands for 
credit, a rise in the rate of personal saving, and gov­
ernment actions to directly expand the supply of mortgage 
credit. 
BUll..DING CONSTRUCTION AUTHORlZED IN TEXAS 
l ndex -Adju.ted fo r Season•/ Variation-1951-1959 • 100 
3JO 300 250 200 150 100 
50 0 


Evidence of a general easing of credit appeared in late January wit~ the reduction of the prime lending rate of most major banks from 6% to 5.75%. In January also, the Fede1·al Home Loan Bank announced that it would make available an additional $1 billion for borrowing by member savings and loan associations and that it would reduce the interest rate on its loans to members from 6% to 5.75%. The FHLB also announced easier terms for borrowing by members. Meanwhile, in early Febru­ary, Fannie Mae (Federal National Mortgage Associa­tion) raised prices it will pay for government-backed home mortgages. This was the first such increase in 
several years. 
As the mortgage market eased, some savings and loan 

associations which had stopped making loans in 1966 
were reported to be again making mortgage-loan com­
mitments. Actual interest rates on new-home loans con­
tinued in January the general decline which had begun 
in December. For example, the Federal Housing Ad­
ministration estimated that average interest rates on 
conventional first-mortgage new-home loans in the United 
States declined to 6.60% as of February 1, compared 
with 6.65% on January 1 and a high of 6.70% on 
December 1. In the Southwest the average on February 
1 was 6.75%, compared with a high of 6.90% as of 
the beginning of both January and December. The ef­
fective interest rates on FHA-insured new-home loans 
declined somewhat more sharply in both the nation and 
the region during the December-January period than did 
the rates for conventional mortgages. 
As interest rates on new-home mortgages edged down­

ward, house prices continued to rise. The average build­
ing-permit value of a single-family dwelling in Texas 
was $15,413 during 1966, an increase of 6.1% from the 
1965 average. In 1965 the increase had been 5.4%. The 
continued rise in the average dollar value presumably 
reflects increases both in costs and in the quality 11-nd 
the size of the average house. Over the years an in­
creasing proportion of nEl,W homes have been provided 
with household appliances and equipment-such as air­
conditioning systems, ranges, and dishwashers-as part 
of the house and its price. The average number of rooms 
and house sizes have grown also. Building costs likewise 
have increased. Some rising costs which are currently 
putting upward pressures on housing prices are price 
increases for some building materials, the rise over the 
past year of interest charges on construction loans, higher 
state and local government taxes and charges to be cov­
ered in house prices, and an accelerated growth in wage 
rates paid construction workers. In addition, land costs, 
which are commonly included in the selling prices of 
houses, have increased rapidly for new houses in recent 
years. Largely in response to such cost pressures build­
ers, according to a recent national survey, are planning 
to raise house prices in 1967 on an average of about 
5%. 
On the whole, even with a continued rise in the cost of houses, conditions appear to be favorable for a fur­ther recovery in homebuilding in both Texas and the nation. The recovery may be irregular, but the seasonably adjusted trends of the indicators of homebuilding should be generally upward during the coming months. 
New Publication 
A MULTI-CROSS-SECTION INVESTIGATION OF DEMAND 
FOR AUTOMOBILES 
by 

David S. Huang 
This analytical study of the shifting patterns of consumer preferences for various types of durable and nondurable goods is a sequel to an earlier study by Dr. Huang published by the Bureau of Business Research. It is both interesting and informative in its presentation of consumer activity. 
No. 31, Research Monograph Series 
$1.50 -Residents of Texas pay 2% sales tax. 
BUREAU OF BUSINESS RESEARCH 
The University of Texas 
Austin, Texas 78712 

i'OTAL ELECTRIC POWER USE IN TEXAS INDUSTRIAL ELECTRIC POWER USE IN TEXAS 
Jnder-Adjusted for Season•/ V•ri11tion-1957 -1959 1t JOO lndu-Adjuated for Susonel Vuietion-1951~lf59•100 
350 300 2SO 200 150 100 50 0 3'0 300 250 200 1SO 100 
0>A  ~  "  r.;,  '1  
'~'-'  t~  r"  ' '  
'\llNI -~'i;i ""' +1"  r' i &• if  ~ !> '1­f1'l ~­ ~ 1 1 •1  
·:m  ISt  I"·•  :!  
;;;~  fl;  h'  1  
hit!  r  ~'W'  ~  
l?,i .,.n!  .........  ~:. ~­ *! l'..J.';"' ""'  .:­~  ,·1  

~  ~)/;  \1  ~-­ ~  
l\·A  ~  'i  r" i  
1·•· 1  bi·  '.,~  I  1  

so 

350 300 250 200 150 100 50 0 

350 300 250 
200 
150 100 
so 

1954 19.SS 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 195' 1955 1956 1957 19.SI 1959 1960 1961 1962 1963 19U 1965 1966 1967 NOTE: Shaded area• indl ca te p~riod• o( dedlne of tettal bu11ine11 "ctlvlty In the United !;t11tt'S. NOT~ Shaded areu indlcate podod• ol decline ol total bulloeu acUvlty ln th• United Siat.,, 
BANK DEBITS IN TEXAS
ORDINARY LIFE INSURANCE SALES IN TEXAS 
/ nd..-Adjuated lot SeHone/ Verietion-19S7-lP$9" JOO 
350 
300 2SO 200 150 100 
so 

1960 1961 l962 1963 ,,.. \965 196' 1"7 NOTE: Shaded areu Indicate period• of decline of total bullne11 activity In the United Statu . NOTE: Shaded area• l!Mlicate period• of decllae ol total bualoeu acUvlty lo the UD.lted StatH. 
1954 1955 1956 1957 1951 1959 1960 1961 1962 1963 1964 1965 '966 1967 




AVERAGE WEEKLY HOURS, AVERAGE WEEKLY EARNINGS, TEXAS MANUFACTURING INDUSTRIES TEXAS MANUFACTURING INDUSTRIES 
Jnd•z-Adjusted for SeHon•I V•riation-1957-1959 •JOO /ndu.-Adju tSted for Se1t1Jon1t/ V1tri1ttion-1957 -19S9•100 
350 300 2'0 200 150 100 
l--+--+--+--+--+--+--+--t---1---1---1---1---r----t l--'-+--+--+--+--+--+--+--t---t---1---1---l---1-----t 
' 

350 350 
250 200 200 

150 100 1'0 
150 
100 50 50 

1954 19.S.S 19$6 1957 1958 1959 1960 1961 1962 1963 1964 196.S 1966 1967 NOTE: Shaded are•• indicate pe riods of de cline of total busine•• activ ity in the United State•.  NOTE: Shaded a'reas indicate periods of decline of total busine ss activity in the United States.  
NEWSPAPER AD LINAGE IN TEXAS  350  TEXAS INDUSTRIAL PRODUCTION: TOTAL MANUFACTURES Jndu-Adj utted for Suson1t/ V1tri1ttion-19S7-19S9•100 350 ..............~.-~.-~i,..,,...,.........~.....~...,..~-.-~...,..~...,..~...,..~.,-~.,-~-, 350  

 300 2'0  300 l--i-f---l--+--l"-+,'' --,-1--1--l---l"' +--t--f---l--+--t----t--; "' 250 l---l--+--+--~-+' ~+-+-""--'--1-+--+-+-~+---l~-+~; 300 250  

 200 150 100  200 1/ ~ ""' H"'' 150 ~~1-f--+---1~f-f-'---f--t-VP..>f+---t--t--+--:::i;..--1~_...""'-'l----I1 ,_­100 ~~~~~::+=+=H==1_,,­-',,} 200 150 100  
50  50  
NOTE: Shaded area• indicate period• of de<'line of total business 11.c 1i vi1y in the United State~.  1954 1955 1956 1957 1951 1959 1960 1961 1962 1963 1964 1965 1966 1967 NOTE: Shaded •rea1 indicate period• of decline of tot.al buaine aa activity In the United Statn. SOURCE: Raaed on bank debit. report1d by the F aderal R1 11rve Bank of o&11a1 and adjuitad for ••••on.al variation a nd chan1•• in the price level by the Bureau of Bulin••• Reaearch.  
TEXAS INDUSTRIAL PRODUCTION: UTILITIES  TEXAS INDUSTRIAL PRODUCTION: MINERALS*  


lndu-Adji.uted for Sea1on11/ Vuiation-1951-1959 • JOO 
Jnd••-Adjuded for Se1t.1on1t/ V1tri1ttion-19S7-19Sf • 100 

350 
350 

350 
uo 

300 
300 

300 
250 
250 
250 
200

200 
200 
uo

150 
150

150 
100 

100 
100 
50 
50 



1954 195.S 1956 1957 1951 1959 1960 1961 1962 1963 1964 196.S 1966 1967  1954 19.55 1956 1957 1958 1959 1960 1961 1962 1963 1964 \965 1966 1967  
NOTE: Shaded area• indicate period• of de cllne of tot.al bu•ine•• activity in the United Stat1u.  NOTE: Shaded a r eu indicate period• of decline of tou.l bu '1ne11 activity ln the United Stat••.  
• 1nclude1 crude-oil and natural-gas production,  
CONSUMER PRICES IN THE UNITED STATES  WHOLESALE PRICES IN THE UNITED STATES  

lnde•-Adjuated for Se.uon1t/ V1tri1ttion-19S1·19S9•100 Jndu-Adjuded for Sea1on1t/ V1tri1ttion-1951·19S9•100 350 350 
350 

300 300
300 300 
250 
2'0 

250 
250 

200 200 
200 
200 

1'0 
150 

150 
uo 
100 100100 

50 50 50 
1954 1955 1956 1957 1951 1959 1960 1961 1962 1963 196' 1965 1966 1967 



NOTE: Shaded a rea• Indicate period• of decline of tot.al bu'1nen activity In the United Statu. 
NOTE: Shaded areu indicate pe r iod• o! decline of tot.al bualnen activity in the United States. 



Indicators of business conditions in Texas cities pub­lished in this table include statistics on banking, build­ing permits, employment, postal receipts, and retail trade. An individual city is listed when a minimum of three indicators is available. 
The cities have been grouped according to Standard Metropolitan Statistical Areas. In Texas all twenty-two SMSA's are defined by county lines; the counties included are listed under each SMSA. The populations shown for the SMSA's are estimates for April 1, 1966, prepared by the Population Research Center, Department of Sociology, The University of Texas. Cities in SMSA's are listed un­der their appropriate SMSA's; all other cities are listed alphabetically. The population shown after the city name is the 1960 Census figure, unless otherwise indicated. 
-~tail-sales data are reported here only when a min­imum of five stores report in the given retail area sales category. The first column shows an average percent change from the preceding month. This is the normal statewide seasonal change in sales by that kind of busi­ness-except in the cases of Dallas, Fort Worth, !lous­ton, and San Antonio, where the dagger (t) is omitted because the normal seasonal changes given are for each of these cities individually. The second column shows the percent change in actual sales reported for the month, and the third column shows the percent change in actual sales from the same month a year ago. A large variation between the normal seasonal change and the reported change indicates an abnormal sales month. 

Symbols used in this table include: 

(a) 
Population Research Center data, April 1, 1966. 

(t) 
Average percent change from preceding month. 


(r) 
Estimates officially recognized by Texas Highway Departments. (rr) Estimate for Pleasanton: combination of 1960 Census figures for Pleasanton and North Pleasanton. (*) Cash received during the four-week postal account­ing period ended January 27, 1967. (:I:) Money on deposit in individual demand deposit 


accounts on the 	last day of the month. (§) Data for Texarkana, Texas, only. (**) Change is less than one half of 1%. 
( 11 ) Annual rate basis. 
(#) Monthly averages. 


Percent change 	Percent change 
Jan 1966 Jan 1967 Jan 1966 Jan 1967 Jan from from Jan from from City and item 1967 Dec 1966 Jan 1966 City and item 1967 Dec 1966 Jan 1966 
ABILENE SMSA AMARILLO (pop. 155,205 r) (Jones and Taylor; pop. 121,343 a) Retail sales . . . . . . . . . . . . . . . . . . -15 t -ll + 2 Automotives stores . . . . . . . . . . . . -1 t -4 + 1
Building permits, less federal contracts $ l,511,071 + 55 +226 Postal receipts• .. . .. . . . ...... . . ....$ 295,757 -28 + 13Bank debits (thousands) II .. . . ..$ 1,890,204 1 + 5 Building permits, less federal contracts $ .1,423,870 -52 + 45Nonfarm employment (area) . 37,100 -3 + 1 Bank debits (thousands) .. ... .. . .. . .. $ 375,501 + 4 + 2

Manufacturing employment (area) . 4,340 -1 + 4 End-of-month deposits (thousands)· i $ 133,406 4

Percent unemployed (area) . .. .... . . . 3.1 + 15 -21 Annual rate of deposit turnover. 33.l + 2 + 2 

ABILENE (pop. 110,049 r) Canyon (pop. 6,755 r)
Retail sales . . . . . . . . . . . . . . . . . . . . . . . . . -15 t -27 + 23 Postal receipts • . . .. .$ f\,503 -42 + 14Apparel stores . . . . . . . . . . . . . . . • . . . -46 t -21 + 39 

Building permits, less federal contracts $ 323,340 +259
Automotives stores . . . . . . . . . . . . . . . -1 t -28 + 34 Bank debits (thousands) $ 11,342 + 21 + 8General merchandise stores. -53 t -39 + 13 

End-of-month deposits (thousands) i .$ 7,61l + 3 -2
Postal receipts • ......... .. ... . . .. .. $ 144,384 -28 + 6 


Annual rate of deposit turnover . 18.1 + 21 + 12
Building permits, less federal contracts $ 1,511,0H + 55 +229 Bank debits (thousands) .... . . $ 15a,199 + 5 + 10 End-of-month deposits (thousands) i $ 72,819 5 + 1 ALPINE (pop. 4,740) Annual rate of deposit turnover. . . . . . 24.6 + 4 + 8 Postal receipts • ................. ... $ 6,297 -31 + 27 
Building permits, less federal contracts $ 14,100 -65 -55 Bank debits (thousands) $ 4,125 -4 + 4
ALAMO: See McALLEN-PHARR-EDINBURG SMSA 

End-of-mon.th deposits (thousands) i. $ 5,113 + 1 4 Annual rate of deposit turnover . 9.7 5 4
+
AMARILLO SMSA 
(Potter and Randall; pop. 169,527 a) 


ANDREWS (pop. 11,135) 
Building permits, less federal contracts $ 1,747,360 -42 + 63 Postal receipts • .. ... ........ ... . ... $ 7,937 -59 -20 Bank debits (thousands) II. .. ..... $ 4,193,016 1 •• Building permits, less federal contracts $ 241,907 +284 Nonfarm employment (area) . . . . . . . . 59,900 -3 + 1 Bank debits (thousands) . $ 7,241 + 20 + 1 
Manufacturing employment (area) . 5,600 -1 + 8 End-of-month deposits (thousands) i .$ 8,191 + 4 •• Percent unemployed (area) .. . . . ... .. 3.2 + 28 6 Annual rate of deposit turnover.. ... . 10.8 + 20 + 1 
Local Business Conditions  Percent change  Local Business Conditions  Percent change  
Jan 1966  Jan 1967  Jan 1966  Jan 1967  
Jan  from  from  Jan  from  from  
City and item  1967  Dec 1966  Jan 1966  City and item  1967  Dec 1966  Jan 1966  
ANGLETON: see HOUSTON SMSA  Groves (pop. 17,304)  
Postal receipts •  ...... .$  9,539  -51  + 12  
ARANSAS PASS: see CORPUS CHRISTI SMSA  Building permits, less federal contracts $ Bank debits (thousands) . . . $  213,545 5,785  -36  -64 -15  
End-of-month  deposits  (thousands) i  $ 4,661  - 4  -20  
ARLINGTON: see FORT WORTH SMSA  Annual rate of deposit turnover... .  14.4  - 33  + 18  
ATHENS (pop. 7,086) Postal receipts • ...$ Building permits, less federal contracts $ Bank debits (thousands) $ End-of-month deposits (thousands) i . $ Annual rate of deposit turnover . 11,957 53,000 12.871 9,747 13.6  -41 + 5 + 4 -25 +  -17 -84 -4 + 2 -17  Nederland (pop. 15,274 r) Postal receipts • . . . . . . . . . . . . $ Building permits, less federal contracts $ Bank debits (thousands) ....... . : $ End-of-month deposits (thousands) i $ Annual rate of deposit turnover. 9,949 25,385 7,347 5,452 16.3  -70 -68 + 2 7  -24 -78 + 8 + 7••  
AUSTIN SMSA (Travis; pop. 256,581 a)  Orange (pop. 25,605) Postal receipts • ... ... .$ Building permits, less federal contracts $  34,861 66,023  -27 +101  + 15 +209  
Building permits, less federal contracts $ 5,143,350 Bank debits (thousands) 11. . . $ 4,566,468  + 14 +  -22 + 1  Bank debits (thousands) End-of-month deposits (thousands) i  $ $ 46.621 29,281  +  6 3  + 23 + 8  
Nonfarm employment (area) . Manufacturing employment (area) .  104.900 7,000  +  ••  + 8 + 6  Annual rate of deposit turnover.... . Nonfarm employment (area) ... ......  19.4 141  +  6 6  + 19 -22  
Percent unemployed  (area) .  2.4  + 14  -14  
AUSTIN (pop. 212,000 r) Retail sales  -15 t  ...:.._ 28  ••  Port Arthur (pop. 66,676) Postal receipts • $ Building permits, less federal contracts $ 66,793 625,081  -38  + 21 +254  
Apparel  stores  -46 t  -44  + 15  Bank debits  (thousands)  .. . . $  76,505  - 2  + 1  
Automotives  stores  . . .  . ...... . . .  - 1 t  - 9  -15  End-of-month  deposits  (thousands) i  $  5-0,708  + 10  + 15  
Eating and drinking places . .... . . .  - 2t  + 11  + 18  Annual rate of deposit turnover..... .  19.0  - 8  - 8  
Food stores  .. . ............ ... . . .. .  -13 t  -12  7  
Furniture and household-appliance stores .. ...... .... .. . . General merchandise stores..... . .. . Lumber, building material, and hardware stores. Postal receipts • . . .....$ Building permits, Jess federal contracts $ -15 t -53 t + 1 t 682,730 5,098,350  -26 -46 -14 -5 + 16  + 12 + 7 + 8 + 13 -22  Port Neches (pop. 8,696) Postal receipts • .. . . . ..... . ..$ Building permits, less federal contracts $ Bank debits (thousands) . . . $ End-of-month deposits (thousands) i $ Annual rate of deposit turnover. 8,380 46,980 12,647 8,124 19.0  -50 +600 + 2 + 3 6  -10 -62 -12 + 9 -16  
Bank debits (thousands) End-of-month deposits (thousands) i Annual rate of deposit turnover .  $ $ 377,879 192,352 23.4  + 6 1 + 4  + 7•• + 4  BEEVILLE (pop. 13,811) Postal receipts • ...$ Building permits, less federal contracts $  15,588 198,645  -41  + 9 +502  
BAY CITY (pop. 11,656) Postal receipts • .. .. .... . ...........$ Building permits, less federal contracts $ Bank debits (thousands) . . .$ End-of-month deposits (thousands) i . $ Annual rate of deposit turnover. . ... . Nonfarm placements ...... ... .... .. .  20,086 65,600 24,345 27,482 10.5 88  -26 -52 + 17 -3 + 17 + 14  + 84 -55 + 7•• + 6 + 6  Bank debits (thousands) $ End-of-month deposits (thousands) i $ Annual rate of deposit turnover... .. . Nonfarm placements .. .. .. ......... . BELTON (pop. 8,163) Postal receipts • .. . ..... . ......... . . $ Building permits, less federal contracts $ 13,118 15,271 10.0 78 9,400 66,800  + 8 -6 + 16 -20 -87 +161  + 12 -4 + 12 -1'2 -12 -25  
End-of-month  deposits  (thousands) i  $ 9,232  - 1  - 1  
BAYTOWN: see HOUSTON SMSA  
BIG SPRING (pop. 31,230)  
BEAUMONT-PORT ARTHUR-ORANGE  SMSA  Retail sales  -15 t  -19  - 9  
(Jefferson and Orange; pop. 322,259 a) Building permits, Jess federal contracts $ 1,618,856 +232 Bank debits (thousands) 11 ·..... ... .. $ 5,392,836 -2 Nonfarm employment (area) . . . . . . . . 106,000 -7 Manufacturing employment (area) . 30,200 -13 Percent unemployed (area) . . . . . . . . . . 5.8 + 39  + 6 + 9 3 -11 + 15  Postal receipts • .. ... ... ... . . .. .....$ Building permits, less federal contracts $ Bank debits (thousands) . . . $ End-of-month deposits (thousands) t .$ Annual rate of deposit turnover... .. . Nonfarm placements .. . ......... ... .  48,587 442,600 51,890 29,309 21.9 152  ~ 18 +m + 16 + 9 + 10 -5  + 27 +2-08 + 16 + + 14 + 8  
BEAUMONT (pop. 127,500 r)  BISHOP:  see  CORPUS CHRISTI  SMSA  
Retail sales  - 15t  - 32  + 1  
Apparel  stores  .... . ... . . .... .•. ..  - 46t  - 55  + 2  BORGER (pop. 20,911)  
Automotives  stores  .... . . . . . .. .. . .  - lt  - 6  +  Postal receipts •  ......... .. $  19,486  -45  + 2  
Food stores  . ....... . . .... . ... .. .. .  -18 t  -10  2  Building permits, less federal contracts $  72,700  +353  +245  
Lumber, building material, and hardware stores............ .  + lt  - 6  + 4  Nonfarm placements  . . . . . . ....... .. .  71  + 8  -12  
Postal receipts • .....$ Building permits, less federal contracts $ Bank debits (thousands) $ End-of-month deposits (thousands) i $ Annual rate of deposit turnover..... . 153,302 601,582 303,521 124,441 29.1  -36 + 95 4 1 4  + 14 + 15 + 6 + 4 + 1  BRADY (pop. 5,338) Postal receipts • .. . . . .. .. . . .... . ....$ Building permits, less federal contracts $ Bank debits (thousands) . $ End-of-month deposits (thousands) t .$ 6,715 90,945 8,450 7,621  -82 +106 + 25 + 8  + 4 8  
For an explanation of symbols, please see p. 88.  Annual rate of deposit turnover..... .  18.5  + 22  4  

Percent change Percent change
Local Business Conditions Local Business Conditions 
Jan 1966 J an 1967 Jan 1966 Jan 1967 Jan from from Jan from from City and item 1967 Dec 1966 Jan 1966 City and item 1967 Dec 1966 Jan 1966 
BRENHAM (pop. 7,740) BROWNWOOD (pop. 16,974) 
Postal receipts • . . . . . . . . . .. $ 11.220 -49 + 9 Postal receipts • .............. '. $ 26,757 -30 -16 Building permits, less federal contracts $ 65,150 -54 Building permits, less federal contracts $ 48,376 4 Bank debits (thousands) $ 14,657 -3 + 5 Bank debits (thousands) $ 19,841 + 9 -10 End-of-month deposits (thousands) t $ 15,394 + 5 End-of-month deposits (thousands) t $ 14,275 + -2 
Annual rate of deposit turnover. 16.8 + 8 -8 Nonfarm placements . . . .. . . . . . ..... . 101 + 38 -11
BROWNFIELD (pop. 10,286) 
Postal receipts • ...........$ 12,621 -38 + 2 


BRYAN (pop. 27,542)
Building permits, less federal contracts $ 46,065 +271 
Building permits, less federal contracts $ 646,415 +261 +114

Bank debits (thousands) . . . $ 28,250 + 27 -27 
Bank debits (thousands) ....$ 40,176 -17

End-of-month deposits (thousands) t $ 15,937 -3 -13 
End-of-month deposits (thousands) t $ 24,492 -20

Annual rate of deposit turnover. 20.9 + 22 -21 
Annual rate of deposit turnover. . . 19.4 3 

Nonfarm placements ... ... .. . ..... . . 264 + 8 -6
BROWNSVILLE-HARLINGEN-SAN BENITO SMSA (Cameron; pop. 141,778 a) CALDWELL (pop. 2,202 r) Building permits, less federal contracts $ 316,950 2 + 17 Postal receipts • ...... .. . . . . ...$ 3,654 
-31 + 22 

Bank debits (thousands) II ..........$ 1,391,388 3 5 Bank debits (thousands) . .$ 3,408 + 8 + 8 
Nonfarm employment (area) . 37,00-0 2 

+ l End-of-month deposits (thousands) t $ 4,710 + 2 + Manufacturing employment (area) .· 6,310 2 + 9 Annual rate of deposit turnover. 8.8 
+ 7 + 4 
Percent unemployed (area) . 5.9 + 11 6 

CAMERON (pop. 5,640) 
BROWNSVILLE (pop. 48,040) Postal receipts • ... . ..... . ...$ 4,928 -66 -11 

Building permits, less federal contracts $ 3,300 3 +230Retail sales -15 t -25 -11 
Bank debits (thousands) ...........$ 6,926 4 + 3

Automotives stores -1 t -22 -19 End-of-month deposits (thousands) t $ 6,146 8 + 6

Postal receipts • ...........S 46,918 -28 + 4 


Annual rate of deposit turnover . . . . . . 12.9 2 6Building permits, less federal contracts $ 146,600 -29 + 6 
Bank debits (thousands) $ 50,680 + 9 -3 
End-of-month deposits (thousands) t $ 25,441 •• -12 CANYON: see AMARILLO SMSA 
Annual rate of deposit turnover..... . 23.9 + 8 + 6 
Nonfarm placements . ... . .... . ..... . 496 -6 + 9 CARROLLTON: see DALLAS SMSA 

CISCO (pop. 4,499) Harlingen (pop. 41,207) 
Postal receipts • ...........$ 6,129 6 + 16

Retail sales -16 t -20 •• 

Bank debits (thousands) . . . . .. . .. $ 4,620 3 + 6Lumber, building material, End-of-month deposits (thousands) t $ 4,040
and hardware stores............ . + 1 t -40 -13 + 1 + 

Annual rate of deposit turnover. . . . . . 13.6 •• + 4
Postal receipts • ............... .....$ 42,353 -39 + 3 
Building permits, less federal contracts $ 124,160 + 60 + 19 
Bank debits (thousands) . $ 47,484 + 9 CLEBURNE: see FORT WORTH SMSA 

+ 6 
End-of-month deposits (thousands) t $ 23,838 -33 -1 
Annual rate of deposit turnover... . . . 19.2 + 3 -10 CLUTE: see HOUSTON SMSA 
Nonfarm placements .. . ...... . ..... . 439 -22 + 6 

COLLEGE STATION (pop. 11,396) 
La Feria (pop. 3,047) 

Postal receipts • .................... $ 38,098 + 33 + 7

Postal receipts • .... . . . ......$ 2,613 -60 + 2 Building permits, less federal contracts $ 383,944 + 91 + 4

Building permits, less federal contracts $ 1,200 + 60 -66 Bank debits (thousands) . . . $ 7,790 + 7 + 14Bank debits (thousands) $ 1,449 8 -29 End-of-month deposits (thousands) t $ 4,939 + + 6End-of-month deposits (thousands) t $ 1,710 + 4 -5 Annual rate of deposit turnover..... . 19.0 + 4 + 6

Annual rate of deposit turnover. 10.4 9 -24 

COLORADO CITY (pop. 6,457) 
Los Fresnos (pop. 1,289) Postal receipts • ........... ....... . . $ 6,864 -49 7 Postal receipts • ...........$ 1,247 -62 -9 Bank debits (thousands) .............$ 7,726 + 19 8 Building permits, less federal contracts $ 0 End-of-month deposits (thousands) t. $ 7,397 + 6 6 
Bank debits (thousands) .... .........$ 1,5-03 + 6 + 11 Annual rate of deposit turnover. 12.8 + 14 4 End-of-month deposits (thousands) t. $ 1,238 6 -8 Annual rate of deposit turnover..... . 14.l + 6 + 18 CONROE: see HOUSTON SMSA 
Port Isabel (pop. 3,575) COPPERAS COVE (pop. 4,567) Postal receipts • ... . ............ . . .. $ 2,818 -62 -9 Postal receipts • .. . . . .. . . .. . . .... . .. $ 6,086 -61 + 16 Building permits, less federal contracts $ 16,000 Building permits, less federal contracts $ 47,496 +178 + 64 Bank debits (thousands) . . $ 2,172 3 + 26 Bank debits (thousands) . $ 1,796 -36 + 20 End-of-month deposits (thousands) t $ 1,870 8 + 28 End-of-month deposits (thousands) t .$ 1,361 + 7 -6 Annual rate of deposit turnover.. . .. . 13.3 4 -6 Annual rate of deposit turnover..... . 16.6 -37 + 88 
CORPUS CHRISTI SMSASan Benito (pop. 16,422) (Nueces and San Patricio; pop. 278,535 a) 
Postal receipts • ......... .... . . $ 9,663 -68 + 12 


Building permits, less federal contracts $ 2.669,166 4 6Bank debits (thousands) . . .. . .... .. .. $ 6,650 + 2 + 14 
Bank debits (thousands) II ... ........$ 4,062,016 + 7 + 9

End-of-month deposits (thousands) t. $ 6,419 -2 Nonfarm employment (area) . . . . 83,400 -1 + 8Annual rate of deposit turnover. . . . . . 12.4 + + 16 

Manufacturing employment (area). 10,430 •• + 1 Percent unemployed (area) . . . . . . . . . . 3.3 -S 8
For an explanation of symbols, please see p. 88. 
Percent changePercent change

Local Business Conditions Local Business Conditions 
Jan 1966 Jan 1961 Jan from from J"an 1966 J an 1967 
Jan from from City and item 1967 Dec 1966 Jan 1966 City and item 1967 Dec 1966 Jan 1966 
Aransas Pass (pop. 6,956) DALLAS (pop. 679,684) 

Postal receipts • ................. ...$ 6,051 -88 + 6 

Retail sales -28 -so + 1
Bank debits (thousands) . . . $ 5,713 + 7 + 22 Apparel stores -51 -51 + 4
End-of-month deposits (thousands) i $ 4,790 -27 -10 
Automotives stores ..... ... ... . . . . -12 -21 -20

Annual rate of deposit turnover . 12.1 + 23 + 14 Eating and drinking places . . .... . . -5 -10 •• Florists . . . ·' ....... ......... . -40 -52 + 6 
Bishop (pop. 3,825 r) Furniture and household-Postal receipts • ...... . .... .. ... .. ..$ 3,024 -55 -4 appliance stores ........... .. .. . -18 -18 + 17 Building permits, less federal contracts $ 21,500 -56 General-merchandise stores -53 -56 + s Bank debits (thousands) $ 2,528 7 + 27 Lumber, building material, End-of-month deposits (thousands) i .$ 2,803 + 9 + 9 and hardware stores. . . . . . . . . . . . -2 + s 8 Annual rate of deposit turnover. 11.8 7 + 22 Postal receipts • .$ 3.424,657 -16 + 2 
Building permits, less federal contracts $14,019,035 + 8 -12 Bank debits (thousands) $ 5,960,826 + 4 + 17
CORPUS CHRISTI (pop. 204,850 r) 
End-of-month deposits (thousands) i $ 1,454,449 -14 + 1Retail sales . . . . . . . . . . . . . . . . . . . . . . . . . -15 t -30 1 
Annual rate of deposit turnover. 45.4 + 4 + 13 
Automotives stores -1 t -8 3 
Drugstores . . . . . . . . . . . . . . . . . . . . . . . -23 t -21 4 
General merchandise stores. . . . . . . . . -58 t -61 + 1 


Postal receipts • .. . ........ .. ... . ...$ 233,290 -37 l Denton (pop. 26,844) 
Building permits, less federal co.ntracts $ 2,376,633 -10 + 3 

Postal receipts • ............. . . . ....$ 50,479 -35 + 5

Bank debits (thousands) . $ 301,919 + 8 + 9 
Building permits, less federal contracts $ 487,300 +254 -12
End-of-month deposits (thousands) i. $ 142.561 7 + 1 Bank debits (thousands) . $ 37,159 + 18 1Annual rate of deposit turnover. . . . . . 24.5 + 7 + 7 
End-of-month deposits (thousands) i $ 25,617 -l + 1 Annual rate of deposit turnover..... . 17.3 + 15 + 1 
Robstown (pop. 10,266) Nonfarm placements ....... .. .... .. . 142 + 89 -21 
Building permits, less federal contracts $ 1,630 -99 -97 
Bank debits (thousands) .............$ 11,777 + 2 + 5 
End-of-month deposits (thousands) i .s 9,856 1 4 

Ennis (pop. 10,250 r)

Annual rate of deposit turnover. 14.3 + 6 + 8 Postal receipts • .. ............... . ..$ 11,312 -42 + 5 Bank debits (thousands) . . .. .$ 8,689 6 1
Sinton (pop. 6,008) 

End-of-month deposits (thousands) i. $ 7,858 4 8 Postal receipts • .......... . . . ... . ...$ 10,907 -4 -9 
Annual rate of deposit turnover . .. . . . 18.9 2 + 5 Building permits, less federal contracts $ 136,900 +617 +251 Bank debits (thousands) $ 6,616 + 28 + 26 End-of-month deposits (thousands) i. $ 5.055 -l -s Annual rate of deposit turnover..... . 15.6 + 27 +so Garland (pop. 50,622 r) 
Retail sales .................... .... . -15t -1 7 CORSICANA (pop. 20,344) Posts.I receipts • . . ............... . ..$ 68.281 -82 + 23 Retail sales . .. ............. ... .... .. -15 t -33 + 28 Building permits, less federal contracts $ 1,467,808 +187 -25 Postal receipts • . . ..................$ 28.417 -79 -1 Bank debits (thousands) .... , ..... .$ 47,049 + 9 + 6 Building permits, less federal contracts $ 94.116 + 66 + 17 End-of-month deposits (thousands) i $ 21,994 + 8 + 7 Bank debits (thousands) .. $ 28,389 + 18 + 6 Annual rate of deposit turnover..... . 26.0 + 4 + 2 End-of-month deposits (thousands) i. $ 24,599 + 8 + 8 Annual rate of deposit turnover. .... . 14.0 + 9 + 8 Nonfarm placements .... . . ... ... . . . . 217 -14 + 9 
Grand Prairie (pop. 40,150 r) Postal receipts • ....................$ 35.292 -50 + 8
CRYSTAL CITY (pop. 9,101) 

Building permits, less federal contracts $ 2,153,612 +289 +892 
Building permits, less federal contracts $ 55,380 + 1 -2 Bank debits (thousands) $ 20,494 + 7 -1 Bank debits (thousands) $ 4,461 + 29 + 17 

End-of-month deposits (thousands) i $ 12,712 1 -17 End-of-month ·deposits (thousands) i. $ 8,115 + l + 2 Annual rate of deposit turnover. . . . . . 19.2 + 5 + 10 Annual rate of deposit turnover... .. . 17.2 + 81 + 16 
DALLAS SMSA Justin (pop. 622) 

(Collin, Dallas, Denton, and Ellis; pop. 1,334,101 a) Building permits, less federal contracts $25,807,687 + 25 -25 Postal receipts • . ... ....... .. .......$ 776 -45 + 57 Bank debits (thousands) 11 ........... $68,285,504 + 4 + 18 Building permits, less federal contracts $ 93.500 +825 Nonfarm employment (area) ........ 588,900 + 6 Bank debits (thousands) .............$ 1,211 + 32 + 15 
Manufacturing employment (area). 188,950 + 1 + 8 End-of-month deposits (thousands) i $ 923 + 2 + 40 Percent unemployed (area) . . . . . . . . . . 1.9 + 6 -27 Annual rate of deposit turnover. . .. . . 15.9 + 84 -5 
Carrollton (pop. 9,832 r) 
Postal receipts • ..... . ....... .. .. . ..$ 11,989 -86 + 20 


McKinney (pop. 13,763) Building permits. less federal contracts $ 235,950 + 17 -58 Postal receipts • ..... .... ......... ..$ 17,988 -32 + 5 Bank debits (thousands) .. ........... $ 10.716 + 14 + 81 Building permits, less federal contracts $ 30,655 -94 -10 End-of-month deposits (thousands) i. $ 4,844 + 10 + 20 Bank debits (thousands) ....... : .. ...$ 12.361 + 15 + 1 Annual rate of deposit turnover. .. .. . 81.l + 10 + 14 End-of-month deposits (thousands) i $ 12,025 -s + 18 Annual rate of deposit turnover..... . 12.2 + 15 -17 Nonfarm placements ...... ......... . 79 + 55 -26
For an explanation of symbols, please see p, 88. 

Percent change Percent change
Local Business Conditions Local Business Conditions 
Jan 1966 Jan 1967 Jan 1966 Jan 1967 Jan from from Jan from from City and item 1967 Dec 1966 J an 1966 City and item 1967 Dec 1966 Jan 1966 
Mesquite (pop. 27,526) DENTON: see DALLAS SMSA 

Postal receipts • . . . . . . . . . . . . . . .. $ 24,054 -38 + 9 Building permits, less federal contracts $ 1,434,015 +132 + 12 Bank debits (thousands) $ 19,863 + 47 + 65 
DONNA: see McALLEN-PHARR-EDINBURG SMSA 
End-of-month deposits (thousands) i $ 8,279 -4 + 2 Annual rate of deposit turnover.... 28.2 + 45 + 54 EAGLE PASS (pop. 12,094) 
Midlothian (pop. 1,521) Postal receipts • ..... . . $ 10,055 -38 -5 
Building permits, less federal contracts $ 0 Building permits, less federal contracts $ 111.290 + 45 + 68 
Bank debits (thousands) $ 1,274 + 12 Bank debits (thousands) . $ 8,317 -8 + 12 
End-of-month deposits (thousands) i $ 1,645 4 + 7 End-of-month deposits (thousands) i $ 5,060 •• -5 
Annual rate of deposit turnover . .... . 9.1 + 1 + 3 Annual rate of deposit turnover. .. . . . 19.8 -12 + 16 

Pilot Point (pop. 1,254) EDINBURG: see McALLEN-PHARR-EDINBURG SMSA

Building permits, less federal contracts $ 10,000 •• Bank debits (thousands) $ 1,766 + 18 + 15 End-of-month deposits (thousands) i $ 2,119 -1 + 11 EDNA (pop. 5,038) Annual rate of deposit turnover. 9.9 + 22 + 3 Postal receipts • .. ... .... ...........$ 6,853 -2.4 -2 
Building permits, less federal contracts $ 4,000 -91 Plano (pop. 10,102 r) Bank debits (thousands) $ 7,279 -17 •• End-of-month deposits (thousands) i $ 7,449 -5 1
Postal receipts • . . . . . . . . . . .. $ 11,474 -33 + 22 ­Building permits, less federal contracts $ 917,355 +354 -77 Annual rate of deposit turnover ...... 1\.4 -13 •• Bank debits (thousands) ....$ 6,670 + 27 + 41 End-of-month deposits (thousands) i $ 3,949 + 1 + 2 
EL PASO SMSA 

Annual rate of deposit turnover.... 20.4 + 2.4 + 36 
(El Paso; pop. 352,637 •) Building permits, less federal contracts $ 6,698,614 +243 + 2S
Richardson (pop. 34,390 r) 

Bank debits (thousands) 11 ...... . . .. .$ 6,130,676 + 3 + lS Postal receipts • . ... . ... . . . . ... ... . . $ 61,779 -44 + 16 Nonfarm employment (area) . . . . . . . . 106,500 •• + 9 Building permits, less federal contracts $ 818,622 + 34 -84 Manufacturing employment (area) . 19,950 + + 14 Bank debits (thousands) ...... . $ 37,660 + \3 + 36 
Percent unemployed (area) . . ...... . . 3.9 -5 -19· End-of-month deposits (thousands) i. $ 14,290 + 3 + 2 Annual rate of deposit turnover..... . 32.1 + 9 + 34 
EL PASO (pop. 276,687) 
Reta.ii sales ........ . . ... ....... . ... . -15 t -28 + 10

Seagoville (pop. 3,745) 
Apparel stores . ....... . ........ . . -46 t -41 + 2


Postal receipts • ................ .... $ 7,126 -33 -6 

Automotives stores . .... . .. . . . . .. . -1 t -19 + lSBuilding permits, less federal contracts $ 880 -95 -96 

Food stores . . . . ... ..... . ....... .. . -\8 t -10 -1


Bank debits (thousands) $ 6,972 + 22 + 28 
Postal receipts • . . ... . ..............$ 882,409 -S5 -2

End-of-month deposits (thousands) i. $ 2,492 -20 + 29 Building permits, less federal contracts $ 6,687,S74 +242 + 28Annual rate of deposit turnover. 26.6 + 23 •• 
Bank debits (thousands) . . . $ 457,172 8 + 16 End-of-month deposits (thousands) i $ 212,982 + 2 + 4 
Waxahachie (pop. 12,749) Annual rate of deposit turnover..... . 26.0 6 + 11 Postal receipts • ..... ... ...... . .....$ 16,474 -38 -6 Building permits, less federal contracts $ 157,800 +203 +149 
ENNIS: see DALLAS SMSA 
Bank debits (thousands) .... . ........$ 13,819 8 8 
End-of-month deposits (thousands) i. $ 10,576 -5 8 
Annual rate of deposit turnover..... . 15.3 -1 4 
Nonfarm placements ........ . .... .. . 92 -54 7 

EULESS: see FORT WORTH SMSA 
DAYTON: see HOUSTON SMSA FORT WORTH SMSA (Johnson and Tarrant; pop. 640,414 a) Building permits, less federal contracts $ 9,677,185 · + 25 + 24
DEER PARK: see HOUSTON SMSA 
Bank debits (thousands) 11 ....•......$14,561,496 + 2 + 8 
Nonfarm employment (area) ... . . . . . 260,100 -2 + 7 DEL RIO (pop. 18,612) Manufacturing employment (area) . 78,925 + + 18 Postal receipts • ....... . ......... . ..$ 18,268 -53 + 8 Percent unemployed (area) . . ... ..... 2..0 •• -SS Building permits, less federal contracts $ 116,686 +22.4 + 23 Bank debits (thousands) . . . . . . . . . . . $ 15,916 + 2 + 12 
Arlington (pop. 53,024 r)
End-of-month deposits (thousands) i $ 18,090 + + 4 

Postal receipts • ....................$ 106,522 -22 + 17

Annual rate of deposit turnover... . . . 10.6 + 8 + 9 Building permits, less federal contracts $ 2,\55,925 + 1 + 4 Bank debits (thousands) . ... . . .. .....$ 65,677 + 1 + 22

DENISON (pop. 25,766 r) 

End-of-month deposits (thousands) i $ 28,621 + 7 + 10 Retail sales . . ................. . ... . . -15 t -30 + 22 
Annual rate of deposit turnover. . . . . . 28.4 8 + 14 Postal receipts • . . ... ... . ... . .... : ..$ 25,956 -48 + 1 
Building permits, less federal contracts $ 204,829 +178 + 65 
Cleburne (pop. 15,381) 
Bank debits (thousands) .............$ 21,424 •• + 12 


Postal receipts • . . ..... .............S 20,672 -41 + 17

End-of-month deposits (thousands) i. $ 16,459 -9 -6 

Building permits, less federal contracts $ 209,570 -27 +192Annual rate of deposit turnover. . ... . 14.9 2 + 16
+ ·Bank debits (thousands) ....... ... ...S 15,250 2 -5

Nonfarm placements ·............... . 205 + 12 + 15 


End-of-month deposits (thousands) i $ 18,815 2 + 7 Annual rate of deposit turnover..... . 18.1 8 -1'0For an explanation of symbols, please see p, 88, 
Percent change 	Percent change
Local Business Conditions 	Local Business Conditions 
Jan 1966 Jan 1967 Jan 1966 Jan 1967 Jan from from Jan from fro.n City and item 1967 Dec 1966 Jan 1966 City and item 1967 Dec 1966 Jan 1966 
Euless (pop. 10,500 r) GALVESTON (pop. 67,175) Postal receipts • .... ......... .... .. . $ 12,714 
-36 + 26 Retail sales -15 t -26 -11 Building permits, less federal contracts $ 200,300 + 76 47
+ 
Apparel stores ......... .. ... . -46 t -52 •• Bank debits (thousands) . . . . . $ 10,614 + 3 25

+ 
Automotives stores ....... . . . ... . -1 t -19 -21 End-of-month deposits \(thousands) t $ 4,321 -8 + 21 


Postal receipts • ... . ... . . . . $ 105.297 -34 -22 
Annual rate of deposit turnover. 28.2 •• + 	Building permits, less federal contracts $ 597,497 +168 + 44 Bank debits (thousands) $ 119,874 + 12 + 6 End-of-month deposits (thousands) t. $ 61,126 8 + 3
FORT WORTH (pop. 356,268) 
Annual rate of deposit turnover . 22.6 + 9 + 3Retail sales 
-25 -25 + 3 
A p pare! stores .................. . -35 -26 + 


Automotives stores -9 -17 2 TEXAS CITY (pop. 32,065) 
Food stores ..... . -11 

-10 2 Postal receipts • ... $ 35,124 -23 + 24 Lumber, building material, 
.. ···· ········ .. 

Building permits, less federal contracts $ 439,865 -3 + 63 and hardware stores. 
+ 
9 + 2 + 18 Bank debits (thousands) $ 28,234 -4 + 4 Postal receipts • .$ 

966,770 -27 -3 End-of-month deposits (thousands) t .$ 1.6.862 + 16 + 1 Building permits, less federal contracts $ 5,217,353 + 47 

+ 
67 Annual rate of deposit turnover . 21.6 -18 + 2 
Bank debits (thousands) . . .. . . $ 1,168,345 2 10



+ + 

End-of-month deposits (thousands) t. $ 431,878 8 1 Annual rate of deposit turnover.... . . 31.0 + 2 + 9 GARLAND: see DALLAS SMSA 
Grapevine (pop~ 4,659 r) GATESVILLE (pop. 4,626) 

Postal receipts • .. ... . . .. .. .... . ....$ 6,493 -42 + 10 
Postal receipts • . .......... ..... . ...$ 9,748 5 + 84

Building permits, less federal contracts $ 54,500 + 81 3 Bank debits (thousands) $ 7,650 + 8 + 18Bank debits (thousands) . . .... . .. $ 5,1 56 + 17 + 9 End-of-month deposits (thousands) t . $ 6,723 2 + 2End-of-month deposits (thousands) t $ 4,205 + 5 + Annual rate of deposit turnover. 18.5 + 8 + 10Annual rate of deposit turnover .. ... . 15.1 + 17 + 
GIDDINGS (pop. 2,821) North Richland Hills (pop. 8,662) 
Postal receipts • . . . . . . . . . . .. .. ... . . .$ 8,241 -67
Building permits, less federal contracts $ 105,800 -78 -48 -13 
Building permits, less federal contracts $ 118,410 +629 + 67

Bank debits (thousands) . . .. .. .$ 11,302 + 5 + 4 
Bank debits (thousands) $ 4,843 4 + 22

End-of-month deposits (thousands) t $ 5,880 + 18 + 18 
End-of-month deposits (thousands) t $ 5,010 4 + 6

Annual rate of deposit turnover.. . .. . 25.0 + 3 -7 
Annual rate of deposit turnover.. ... . 11.3 1 + 18 

White Settlement (pop. 11,513) 
Building permits, less federal contracts $ 27,300 +446 -91 GLADEWATER (pop. 5,742) 
Bank debits (thousands) ......... . . . . $ 3,017 + 11 + 53 Postal receipts • ................. ... $ 8,538 -24 + 24 
End-of-month deposits (thousands) t $ 1,791 + 4 + 24 Building permits, less federal contracts $ 82,700 +256 +268 
Annual rate of deposit turnover..... . 20.6 + + 89 Bank debits (thousands) . . ....... . . . $ 5,688 + 12 •• 

End-of-month deposits (thousands) t $ 4,934 + 5 + 8 Annual rate of deposit turnover . .... . 14.2 + 8 + 7
FREDERICKSBURG (pop. 4,629) 

Nonfarm employment (area) . 33,000 2 + 1 
Postal receipts • ... . . .. . . ... . .......$ 8,750 -29 + 17 

Manufacturing employment (area). 8,580 4 + 8 
Building permits, less federal contracts $ 77,724 +541 -15 

Percent unemployed (area) . . . ..... . . 2.9 + 12 -19 
Bank debits (thousands) . . ..... . . $ 12,766 + 6 + 12 
End-of-month deposits (thousands) t $ 10,141 + 3 + 8 
Annual rate of deposit turnover . 15.8 + 7 + 9 GOLDTHWAITE (pop. 1,383) 
Postal receipts • ............ ........ $ 2,281 -74 + 7 
Bank debits (thousands) ...... . .. . . . $ 5,468 + 88 + 29

FRIONA (pop. 3,049 r) 

End-of-month deposits (thousands) t $ 5,618 -11 -4Building permits, less federal contracts $ 0 Annual rate of deposit turnover. 11.0 + 47 + 28
Bank debits (thousands) ... .. . .. . , .. $· 11,816 + 48 + 1 
End-of-month deposits (thousands) t .$ 6,888 + 7 -10 
Annual rate of deposit turnover..... . 28.1 + 85 + 18 

GRAHAM (pop. 8,505) 
Postal receipts • .................... $ 10,744 -85 + 2 
GALVESTON-TEXAS CITY SMSA Building permits, less federal contracts $ 58,425 +717 
(Galveston; pop. 161,854 a) Bank debits (thousands) .............$ 11,2.67 + 8 •• 
Building permits, less federal contracts $ 1,094,462 + 47 + 52 

End-of-month deposits (thousands) t $ 10,177 + 8 + 2 
Bank debits (thousands) II .......... . $ 2,064,048 + 7 + 6 Annual rate of deposit turnover..... . ~8.5 + 5 + 8 
Nonfarm employment (area) . 55,800 -1 + 4 
Manufactwing employment (area) . 9,88-0 -1 8 

GRANBURY (pop. 2,227) 
Percent unemployed (area) . . . . . . . . . . 8.8 + 19 -28 
Postal receipts • ......... .. .. .... ...$ 8, 784 -28 +u 

Bank debits (thousands) . . . . . . . . . . . $ 2,074 -17 + 11
La Marque (pop. 13,969) 

End-of-month deposits (thousands) t .$ 2,785 + 2 + 14 
Postal receipts • ........... ......... . $ 14,779 -42 + 20 Annual rate of deposit turnover. . . . . . 9.0 -15 •• 
Building permits, less federal contracts $ 57,100 -16 + 58 
Bank debits (thousands) ... . .........$ 12,864 + 10 + 15 

End-of-month deposits (thousands) t. $ 8,~64 + 16 + 25 GRAND PRAIRIE: see DALLAS SMSA Annual rate of deposit turnover . .. .. . 18.5 -~ -8 
GRAPEVINE: see FORT WORTH SMSA
For an explanation of symbols, please see p. 88. 

Percent change Percent change
Local Business Conditions Local Business Conditions 
J an 1966 J an 1967 Jan 1966 Jan 1967 Jan from from Jan from from City and item 1967 Dec 1966 Jan 1966 City and item 1967 Dec 1966 Jan 1966 
GREENVILLE (pop. 22,134 r) 
Dayton (pop. 3,367) Postal receipts • .........$ 28,291 -52 -2 Postal .. $ -30
receipts • 3,800 + 20 Building permits, less federal contracts $ 225,700 + 71 28
-Building perm;ts, less federal contracts $ 150,785 Bank debits (thousands) $ 28,318 + 24 + 38 
Bank debits (thousands) .............$ 5,955 + 18

+

End-of-month deposits (thousands) t $ 16,910 -5 
+ 
5 End-of-month deposits (thousands) t 4,266 + 12 + 17 Annual rate of deposit turnover . 19.6 

+ 
24 + 28 Annual rate of deposit turnover . 17.7 -6 + 7 Nonfarm placements .... . . . . . . 121 -2 + 17 


Deer Park (pop. 4,865) 

HARLINGEN: see BROWNSVILLE-HARLINGEN-SAN Postal receipts • ................... .$ 8,041 -37 -12
BENITO SMSA 
Building permits, less federal contracts $ 199,450 + 38 -81 Bank debits (thousands) . . $ 9,601 + 42 + 2
HENDERSON (pop. 9,666) 
End-of-month deposits (thousands) t $ 3,761 -19 + 48 
Postal receipts • . . . . . . . . . . . . . . .. $ 13,966 -32 + 9 

Annual rate of deposit turnover . 27.3 + 33 -19 
Building permits, less federal contracts $ 37,350 -16 +605 
Bank debits (thousands) ........ .$ 10,283 + 15 + 3 
End-of-month deposits (thousands) t $ 20,670 -3 + 7 HOUSTON (pop. 938,219) 
Annual rate of deposit turnover . 5.9 + 18 8 Retail sales -25 -23 •• 

Apparel stores -48 -49 + 18 
HEREFORD (pop. 9,584 r) Automotives stores -14 -10 -5 
Postal receipts • ...$ 15,470 -48 + 15 Drugstores ......... . . . -18 -3 •• 
Building permits, less federal contracts $ 165,500 +548 + 57 Eating and drinking places . -12 -17 -4 

Bank debits (thousands) . . .... .$ 32,995 + 14 Food stores ......... . ..... . .... . . . -14 -18 •• 
End-of-month deposits (thousands) t. $ 17,746 •• General merchandise stores . -54 -55 -6 
Annual rate of deposit turnover . 22.3 + 17 Lumber, building material, 

and hardware stores............ . + 9 + 1 -12 Postal receipts • .$ 2,661,453 -26 + 9
HOUSTON SMSA 

Building permits, less federal contracts $17,086,415 + 3 -40
(Brazoria, Fort Bend, Harris, Liberty and Montgomery; 
Bank debits (thousands) . . . $ 5,451,165 + 1 + 14 
pop. 1,717,116 a) 

End-of-month deposits (thousands) t $ 1,669,773 8 -1 
Building permits, less federal contracts $21,377,914 + 17 -89 Annual rate of deposit turnover . 37.5 + + 16 
Bank debits (thousands) 11 ....... .. .. $65,399,364 + 6 + 11 
Nonfarm employment (area) . 714,900 -1 + 4 
Manufacturing employment (area) . 129,00-0 •• + 8 Humble (pop. 1, 711) 
Percent unemployed (area) . . . . . . . . . . 2.0 + 18 -23 Postal receipts • ... . ................$ 5,505 -41 + 43 
Building permits, less federal contracts $ 37,000 +640 
Angleton (pop. 9,131) Bank debits (thousands) . . . $ 4,170 -6 4 
End-of-month deposits (thousands) t $ 3,754 •• + 3

Postal receipts • ...$ 12,101 -41 + 18 Annual rate of deposit turnover . . . .. . 13.3 -6 6
Building permits, less federal contracts $ 213,631 +963 +122 Bank debits (thousands) . . .. .$ 13,142 -13 4 End-of-month deposits (thousands) t $ 13,253 + 11 + 2 Katy (pop. 1,569) Annual rate of deposit turnover . . . 12.5 -18 8 Building permits, less federal contracts $ 58,500 -79 -44 
'Bank debits (thousands) ......... . ...$ 3,440 + 17 •• Baytown (pop. 38,000 r) End-of-month deposits (thousands) t $ 2,956 + 1 •• Retail sales Annual rate of deposit turnover..... . 14.0 + 15 + 2 
Automotives stores -1 t -7 + 6 
Postal receipts • ... .... ........$ 35,514 -44 9 

La Porte (pop. 7,250 r)

Building permits, less federal contracts $ 430,050 + 73 4 Building permits, less federal contracts $ 69,000 + 4 -60
Bank debits (thousands) . . .$ 46,164 + 14 + 21 
Bank debits (thousands) .... . ........$ 4,379 + 8 9 

End-of-month deposits (thousands) t $ 30,076 + 5 -6 End-of-month deposits (thousands) t $ 3,438 •• 6 Annual rate of deposit turnover . 18.8 + 7 + 31 Annual rate of deposit turnover. 15.3 4
+ 
Bellaire (pop. 21,182 r) Liberty (pop. 6,127) 

Postal receipts • ....... . ...$ 97,348 -5 + 98 

Postal receipts • ........... . .... . ...$ 9,466 -16 + 14

Building permits, less federal contracts $ 14,925 + 49 -24 Building permits, less federal contracts $ 20,075 -68 8
Bank debits (thousands) ..... ........$ 29,519 + 4 + 12 

Bank debits (thousands) . . $ 12,774 2 + 9End-of-month deposits (thousands) t $ 16,654 4 + 4 End-of-month deposits (thousands) t .$ 11,403 + 3 + 7Annual rate of deposit turnover. 20.9 + 1 + 7 Annual rate of deposit turnover. .... . 13.6 8 + 6 
Clute (pop. 4,501) 

Postal receipts • ... . .. . .... . ........$ 3,695 -61 -2 Pasadena (pop. 58,737) Building permits, less federal contracts $ 18,280 +161 + 46 Postal receipts• .. .. . . : . ....... . . ...$ 57,862 -58 -1 Bank debits (thousands) . . .$ 3,222 -6 + 73 Building permits, less federal contracts $ 1,416,900 -41 End-of-month deposits (thousands) t $ 2,033 -3 + 28 Bank debits (thousands) $ 74,159 •• + 4 
Annual rate of deposit turnover. 18.8 -10 + 85 End-of-month deposits (thousands) t $ 84,820 9 + 4 Annual rate of deposit turnover . . . . . . 24.8 -2 8 Conroe (pop. 9,192) Postal receipts • .................... $ 28,747 -26 + 89 
Richmond (pop. 3,668)

Building permits, less federal contracts $ 77,000 -17 
Postal receipts • .. .............. . . ..$ 5,459 -40 + 45

Bank debits (thousands) .... .. .......$ 15,889 2 + 1 

Building permits, less federal contracts $ 15,750 -17 -97
End-of-month deposits (thousands) t $ 13,418 + 3 1 
Bank debits (thousands) ........ . .. .. $ 9,585 + 80 + 12

Annual rate of deposit turnover.. . .. . 14.4 5 + 2 End-of-month deposits (thousands) t .$ 9,623 -5 + 1 Annual rate of deposit turnover..... . 11.6 + 80 + 18For an explanation of symbols, please see p. 88. 
94 TEXAS BUSINESS REVIEW 
Percent changePercent change

Local Business Conditions Local Business Conditions 
Jan 1966 Jan 1967
Jan 1966 Jan 1967 J an from from 

Jan from from City and item 1967 Dec 1966 Jan 1966 City and item 1967 Dec 1966 Jan 1966 
Rosenherg (pop. 9,698) KIRBYVILLE (pop. 2,021 r) 

Postal receipts * ..... ...... ... ...... $ 11,700 ;-30 + 29 
Postal receipts • . . $ 3,478 -49 3 Building permits, less federal contracts $ 138,375 +223 2
+ Bank debits (thousands) . .. $ 2,454 + 3 + 8 End-of-month deposits (thousands) t $ 1\,162 + 1 •• 
End-of-month deposits (thousands) t $ 4,170 2 3 Annual rate of deposit turnover. 7.0 + 3 + 11
South Houston (pop. 7,253) 

Postal receipts • ...$ 9,804 -48 + 7 
Building permits, less federal contracts $ 72,900 + 33 -80 LA FERIA: 

see BROWNSVILLE-HARLINGEN-SAN 

Bank debits (thousands) .. ... ... .... .$ 8,758 -10 + 11 
BENITO SMSA
End-of-month deposits (thousands) t $ 5,859 -4 + 2 Annual rate of deposit turnover ..... 17.6 -10 + 7 
LA MARQUE: see GALVESTON-TEXAS CITY SMSA
Tomball (pop. 2,025 r) 

Building permits, less federal contracts $ 183,000 Bank debits (thousands) $ 9,411 -13 + 13 LAMESA (pop. 12,438) End-of-month deposits (thousands) t $ 10,214 -6 2 Postal receipts • . . . . . . . . . . . .... $ 15,234 -33 + 12 Annual rate of deposit turnover. 10.7 -17 -8 Building permits, less federal contracts $ 32,918 -16 -12 
Bank debits (thousands) ....... ..... .$ 32,991 + 31 + 3 
HUMBLE: see HOUSTON SMSA End-of-month deposits (thousands) t $ 21,725 + 6 + l 
Annual rate of deposit turnover..... . 18.7 + 18 -l 
IOWA PARK: see WICHITA FALLS SMSA Nonfarm placements ............... . 37 -24 -39 

IRVING: see DALLAS SMSA 
LAMPASAS (pop. 5,670 1') 
Postal receipts • .... ... . . ... .. .$ 7,553 -24 + l2

JACKSONVILLE (pop. 10,509 r) 
Building permits, less federal contracts $ 28,000 + 4 -64Postal receipts • . $ 22,554 -16 -3 Bank debits (thousands) . ... . . $ 9,067 + 13 + 7Building permits, less federal contracts $ 25,550 + l6 -48 End-of-month deposits (thousands) t $ 7,117 -5 + 1Bank debits (thousands) . . . . . $ 16,447 + 1 5 
Annual rate of deposit turnover... ... 14.9 + 16 + 4
End-of-month deposits (thousands) t $ 11,504 3 4 
Annual rate of deposit turnover . 16.9 2 + 2 

LA PORTE: see HOUSTON SMSA JASPER (pop. 5,120 r) 
Retail sales -15 t -42 -19 
Postal receipts • .. ... .... ....... . ...$ 11,042 -19 + 16 LAREDO SMSA 
Building permits, less federal contracts $ 20,000 + 65 -76 (Webb; pop. 77,006 a) 

Bank debits (thousands) . $ 12,620 + 16 + 11 Building permits, less federal contracts $ 595,325 +520 +202 End-of-month deposits (thousands) t $ 8,641 + 2 + 5 Bnnk debits (thousands) 11 .. . . $ 605,556 3 + 9 
Annual rate of deposit turnover. .. .. . 17.7 + 16 + 7 Nonfarm employment (area) .. . . ... . 22,500 -l + 5 Manufacturing employment (area) . 1,260 + 3 -4 JUSTIN: see DALLAS SMSA Percent unemployed (area) .. ....... . 11.4 + 15 -10 
KATY: see HOUSTON SMSA 
LAREDO (pop. 60,678) KILGORE (pop. 10,092) Postal receipts • .. ·········· .$ 45,974 -86 + l Postal receipts • . . . . . . ........$ 15,637 -39 + 10 
Building pe'.'Illits, less federal contracts $ 595,825 +520 + 202 
Bank debits (thousands) . .... . . $ 52,515 6 + · 8Building permits, less federal contracts $ 33,500 -15 -92 
End-of-month deposits (thousands) t $ 33,496 + l + l4 End-of-month deposits (thousands) t $ 13,267 + 1 -6 Annual rate of deposit turnover . 18.9 -9 -4 Annual rate of deposit turnover ..... . 13.9 + 6 + 17 Nonfarm placements ··· ··· ······· ··· 386 -22 •• Nonfarm employment (area) . 33,000 2 + 1 
Manufacturing employment (area) . 8,580 4 + 8 LEVELLAND (pop. 12,117 r) 
Percent unemployed (area) . 2.9 + 12 -19 

Bank debits (thousands) . . . . . . $ 15,304 + 7 + 9 Postal receipts • . . . . .. $ 11,118 -46 + 6 Building permits, less federal contracts $ 701,950 + 10
KILLEEN (pop. 23,377) 
Bank debits (thousands) ...... . .. . . ..$ 26,656 -85 Postal receipts • . . . . . . ............$ 52,219 -38 + 25 
End-of-month deposits (thousands) t $ 12,124 -18 Building permits, less federal contracts $ 409,947 +506 + 30 Bank debits (thousands) .... . ........$ 18,105 + 4 -10 End-of-month deposits (thousands) t $ 10,825 -26 -21 LIBERTY: see HOUSTON SMSA A,nnual rate of deposit turnover. .. 17.l + 4 -l 
LITTLEFIELD (pop. 7,236)KINGSLAND (pop. 150) 
Postal receipts • .. . ..... . ...... . ....$ 8,833 -28 + 18
Postal receipts • ........... ......... $ 1,599 -52 + 63 

Building permits, less federal contracts $ 2,200 + 10 -95
Bank debits (thousands) . . . . . . $ 1,937 -18 -8 Bank debits (thousands) ... .. .... . . $ 15,151 + 39 -24
End-of-month deposits (thousands) t $ 1,041 + 14 + 18 End-of-month deposits (thousands) t $ 14,655 + 2 -7
Annual rate of deposit turnover... 23.8 -21 -9 Annual rate of deposit turnover . . . . . . 12.5 + 39 -85 
KINGSVILLE (pop. 25,297) 
Postal receipts • ......... .... ...... .$ 23,089 -30 + 10 

LLANO (pop. 2,656) 
Building permits, less federal contracts $ 535,640 +274 +396 
Postal receipts • . . ... . . . ... . . .......$ 4,203 -25 + 22

Bank debits (thousands) ......... .. .. $ 16,331 + 2 + 24 

Building permits, less federal contracts $ 42,145 +172
End-of-month deposits (thousands) t $ 18,524 + 4 + 4 Bank debits (thousands) . . ..... . .. . .. $ 8,414 -5 + 8Annual rate of deposit turnover.. ... . 10.8 + 3 + 19 
End-of-month deposits (thousands) t $ 4,688 •• + 15 For an explanation of symbols, please see p. 88. Annual rate of deposit turnover..... . 8.9 -2 4 
Percent change Percent change
Local Business Conditions Local Business Conditions 
J an 1966 Jan 1967 Jan 1966 Jan 1961 Jan from from Jan from from City and item 1967 Dec 1966 Jan 1966 Cit.y and item 1967 Dec 1966 Jan 1966 
LOCKHART (pop. 6,084) Edinburg (pop. 18,706) 
Postal receipts • . . . ... . $ 5,385 -44 -4 Building permits, less federal contracts $ 272,450 +121 +225 Building permits, less federal contracts $ 207,300 + 86 Bank debits (thousands) . . .... .$ 22,252 + 33 + 48 Bank debits (thousands) $ 7,260 + 20 + 16 End-of-month deposits (thousands) t $ 13,902 + 17 + 11 End-of-month deposits (thousands) t $ 7,467 + 16 + 13 Annual rate of deposit turnover. 20.7 + 21 + 26 Annual rate of deposit turnover. 12.5 + 10 + 10 Nonfarm placements .. . 367 + 24 + 18 
LONGVIEW (pop. 40,050) Elsa (pop. 3,847) 
Retail sales -15 t -13 -15 Building permits, less federal contracts $ 0 
Automotives stores -1 t -3 -12 Bank debits (thousands) . . . . ....... $ 2,291 -16 -s 
Postal receipts • .. .... . . . . . . . $ 65,573 -32. + 8 End-of-month deposits (thousands) t $ 1,638 + 4 + 10 
Building permits, less federal contracts $ 555,100 +101 -34 Annual rate of deposit turnover . 17.1 -12. -7 
Bank debits (thousands) . . .. . $ 66,985 -4 -5 
End-of•month deposits (thousands) t $ 36,401 -14 -21 McALLEN (pop. 35,411 r) 
Annual rate of deposit turnover . 2.1.5 + 7 + 17 Retail sales 15 t -22 2

-+ 

Nonfarm employment (a rea) . 33,000 -2 + 1 2
Automotives stores -lt -+ 
Manufacturing employment (area) . 8,580 -4 + 8 

Furniture and household-
Percent unemployed (area) . 2.9 + 12 -19 appliance stores . -15 t -32 + s 

Postal receipts • . . . . . . . ...... ...$ 45,245 -32 + 7 
LOS FRESNOS: see BROWNSVILLE-HARLINGEN­Building permits, less federal contracts $ 633,400 +284 + 96 
SAN BENITO SMSA Nonfarm placements 449 -40 -27 

LUBBOCK · SMSA Mercedes (pop. 10,943) 
Postal receipts • ....................$ 6,609 -84 -1

(Lubbock; pop. 181,591 a) 

Building permits, less federal contracts $ 8,825 -99 -49Building permits, less federal contracts $ 1,227,265 -79 -69 Bank debits (thousands) . . . . .. .$ 6,667 + + 8Bank debits (thousands) 11 -. . $ 3,183,720 + 4 -12 
End-of-month deposits (thousands) t $ 4,101 •• -5
Nonfarm employment (area) . . . . . 62,600 -2 + 2 Annual rate of deposit turnover.. . .. . 19.5 + 4 + 18

Manufacturing employment (area) . 6,990 -1 -4 
Percent unemployed (area) ... . .. . . . . 3.7 + 19 •• 


Mission (pop. 14,081) 
LUBBOCK (pop. 155,200 r) Postal receipts • ......... . ... . ......$ 10,180 -88 -8 
Retail sales . .. .. . .. .... . ........... . -15t -31 -11 Building permits, less federal contracts $ 24,575 -40 +us 

Automotives stores . ... .. ........ . -1 t -13 -19 Bank debits (thousands) . . .. .. . . ... . . $ 14,488 + 5 + 20 Postal receipts • ..... ............... $ 255,513 -26 + 8 End-of-month deposits (thousands) t $ 9,901 •• + 2 Building permits, less federal contracts $ 1,187,365 -79 -70 Annual rate of deposit turnover . 17.6 + + 19 Bank debits (thousands) $ 406,659 + 21 -12 End-of-month deposits (thousands) t $ 142,841 -5 8 Pharr (pop. 15,279 r) Annual rate of deposit turnover . 33.3 + 19 -8 Postal receipts • .......... . . . ..... ..$ 9,121 -46 -5 Building permits, less federal contracts $ 45,895 -48 + 18 
Slaton (pop. 6,568) Bank debits (thousands) . . .. . .. .. ....$ 5,698 + 1 + 17 Postal receipts • .......... ...... .... $ 4,530 -66 + 10 End-of-month deposits (thousands) t $ 5,825 + 2 + 24 Building permits, less federal contracts $ 4,900 + 11 +106 Annual rate of deposit turnover..... . 11.8 6 -2 
Bank debits (thousands) . . . . . . $ 7,038 +so -10 
End-of-month deposits (thousands) t $ 4,448 + 6 -10 San Juan (pop. 4,371) 
Annual rate of deposit turnover . 19.5 + 41 + 1 

Postal receipts • ............. . ......$ 3,149 -48 + 7 Building permits, less federal contracts $ 17,900 +426 +442
LUFKIN (pop. 20,756 r) 

Bank debits (thousands) ..... . . .. .. . . $ 2,680 s 2 Postal receipts • ...... .. .. ... . . .....$ 36,356 -23 + 1 
End-of-month deposits (thousands) t $ 2,818 + 7 + 8 Building permits, less federal contracts $ 122,585 -11 -2.6 
Annual rate of deposit turnover. .. .. . 11.6 9 4 Nonfarm placements 121 + 19 +1ss 
Weslaco (pop. 15,649) McALLEN-PHARR-EDINBURG SMSA 

Retail sales
(Hidalgo; pop. 182,008 a) 

Food stores ..... . .... . ........... . -18 t -8 + 2Building permits, less federal contracts $ 1,451,399 + 2.2 +136 
Postal receipts• .... . ...... . .. . .....$ 18.764 -27 -1 Bank debits (thousands) II .. ........ . $ 1,299,060 + 2 + 24 
Building permits, less federal contracts $ 84,810 -12 
Nonfarm employment (area) . . . . . . . . 42,650 -1 + 1 -29 
Bank debits (thousands) ... . ... . .....$ 10,881 -7 + 4 
Manufacturing employment (area) . 4,250 + 4 + 45 End-of-month deposits (ti)ousands) t $ 9,548 + 16 + 5Percent unemployed (area) .. ... . .... 5.8 •• -16 

Annual rate of deposit turnover..... . 14.0 -11 + 8 
Alamo (pop. 4,121) MISSION: see McALLEN-PHARR-EDINBURG SMSA

Building permits, less federal contracts $ 13,700 -26 -85 Bank debits (thousands) ... ......... $ 2,268 + 17 + 26 End-of-month deposits (thousands) t $ 1,492 + 6 + 6 McCAMEY (pop. 3,350 r) Annual rate of deposit turnover . 18.8 + 8 Postal receipts • ..... . .. . ... . ... ....$ 4,241 + 45 + 59 
Building permits, less federal contracts $ 15,000
Donna (pop. 7,522) Bank debits (thousands) . . ... . ... ....$ 1,844 -8 2 Postal receipts • ..... . . .. . .......$ 8.925 -52 -18 End-of-month deposits (thousands) t. $ 1,678 7 Building permits, less federal contracts $ 399,844 +535 Annual rate of deposit turnover..... . 18.2 •• Bank debits (thousands) .. . .. . ... . . . . $ 2,886 -8 + 9 End-of-month deposits (thousands) t .$ 4,647 + 2 + 15 McGREGOR: see WACO SMSA Annual rate of deposit turnover . . . . . . 7.5 -10 -5 
McKINNEY: see DALLAS SMSA 
For an explanation of symbols, please see p, 88. 

96 TEXAS BUSINESS REVIEW 
Percent change Percent change 
Local Business Conditions Local Business Conditions 
Jan 1966 Jan 1967 Jan from from Jan from from City and item 1967 Dec 1966 Jan 1966 City and item 1967 Dec 1966 Jan 1966 
Jan 1966 Jan 1967 

MARSHALL (pop. 25,715 r) NEDERLAND: see BEAUMONT-PORT ARTHUR­Postal receipts • . . . . . . . . . . . . . . ....$ 31,190 -35 + 13 ORANGE SMSA Building permits, less federal contracts $ 203,842 +151 +100 Bank debits (thousands) $ 23,449 -3 + 13 
NEW BRAUNFELS (pop. 15,631)
End-of-month deposits (thousands) t S 26,932 -2 + 11 Postal receipts • $ 21,349 -52 + 13 Annual rate of deposit turnover . 13.8 + 27 + 35 Building permits, less federal contracts $ 132,046 + 51 + 17 Nonfarm placements 338 -13 + 37 
Bank debits (thousands) .. ...........$ 19,898 + 16 + 25 End-of-month deposits (thousands) i $ 14,805 + 1 -3
MERCEDES: see McALLEN-PHARR-EDINBURG SMSA 
------Annual rate of deposit turnover . 16.2 + 16 + 28 MESQUITE: see DALLAS SMSA 
NORTH RICHLAND HILLS: see FORT WORTH SMSA MEXIA (pop. 7,621 r) Postal receipts • .......$ 7,326 -33 + 24 ODESSA SMSA 
Building permits, less federal contracts $ 25,200 -60 (Ector; pop. 89,437 a) 
Bank debits (thousands) $ 7,281 + 29 + 38 

Building permits, less federal contracts $ 494,825 +109 -32 
End-of-month deposits (thousands) t. $ 5,905 + 3 + 9 Ba nk debits (thousands) 11 ....$ 1,224,672 -5 •• 

Annual rate of deposit turnover . 15.0 + 25 + 27 Nonfarm employment (area) . 58,700 
-1 + 3 Manufacturing employment (area). 5,100 •• + 8
MIDLAND SMSA 

Percent unemployed (area) ..... 3.3 + 14 + 8 
(Midland; pop. 68,230 a) 
Building permits, less federal contracts $ 611,250 + 23 -84 ODESSA (pop. 86,937 r) 
Bank debits (thousands) II. . .$ 1,645,572 + 2 + 3 

Retail sales -15 t -46 +
Nonfarm employment (area) . 58,700 -1 + 3 

Furniture and household-
Manufacturing employment (area) . 5,100 •• + 8 

appliance stores ... . . . . -15 t -29 + 2 Percent unemployed (area) . 3.3 + 14 + 3 Postal receipts • $ 95,269 -40 + 6 
Building permits, less federal contracts $ 494,825 +109 -32
MIDLAND (pop. 62,625) 
Bank debits (thousands) $ 105,716 4 + 10 Postal receipts • .............$ 119,715 -39 + 10 
End-of-month deposits (thousands) i. $ 67,948 + 4 •• Building permits, less federal contracts $ 611,250 + 23 -84 
Annual rate of deposit turnover . 19.0 6 + 11 Bank debits (thousands) . $ 150,030 + 9 + 4 
Nonfarm placements 338 + 2 + 13 End-of-month deposits (thousands) i. $ 114,020 -8 •• 
Annual rate of deposit turnover . 15.1 + 9 + 1 
OLNEY (pop. 3,872) 
Nonfarm placements ... . ...... .... . . 559 + 23 -18 
Building permits, less federal contracts $ 21,500 +330 -38 MIDLOTHIAN: see DALLAS SMSA Bank debits (thousands) ..... .. .. .. . . $ 5,781 + 15 + 6 End-of-month deposits (thousands) i. $ 4,982 •• ••
MINERAL WELLS (pop. 11,053) Annual rate of deposit turnover..... . 13.9 + 16 + 9 Postal receipts • .. . . . ...............$ 22,809 -25 -4 Building permits, less federal contracts $ 984,820 +401 
ORANGE: see BEAUMONT-PORT ARTHUR­
Bank debits (thousands) . . .. .$ 21,383 + 15 + 38 
ORANGE SMSA
End-of-month deposits (thousands) i. $ 13,985 -4 + 9 
Annual rate of deposit turnover.. . 18.0 + 13 + 26 

PALESTINE (pop. 13,97 4)
Nonfarm placements . . . ....... . . . 92 -38 -45 Postal receipts • ........ ...$ 18,298 -54 + 18 MONAHANS (pop. 9,252 r) Building permits, less federal contracts $ 97,605 +235 + 8 Postal receipts • . . . .. . . $ 10,831 -48 + 7 (thousands) $ 13.223 •• 12
Bank debits ­
Building permits, less federal contracts $ 35,170 -73 + 13 End-of-month deposits (thousands) i. $ 17,654 + 2 + 1 Bank debits (thousands) $ 11,880 + 19 + 8 
Annual rate of deposit turnover . 9.1 -1 -12 
End-of-month deposits (thousands) i. $ 8,319 + 4 •• 
Annual rate of deposit turnover . 17.4 + 15 + 11 PAMPA (pop. 24,664) 

Retail sales -15 t -36 -20 MOUNT PLEASANT (pop. 8,027) Postal receipts • . . ... . . . . .. .. . . . .. . . $ 28,948 -89 5 Postal receipts • ........ .. .$ 9,713 -49 -18' Building permits, less federal contracts $ 66,950 + 13 -7 Building permits, less federal contracts $ 45,900 + 6 -58 Bank debits (thousands) . . . .. .. $ 32,144 •• + 8 Bank debits (thousands) . $ 13,279 + 6 + 13 End-of-month deposits (thousands) i. $ 20,959 + 4 •• End-of-month deposit• (thousands) i. $ 9,301! 2 + 4 Annual rate of deposit turnover... . . . 18.7 •• + 9 Annual rate of deposit turnover . .. 17.0 + 6 + 16 Nonfarm placements ... . .... . . . ... . . 188 + 18 + 5 
MUENSTER (pop. 1,190) PARIS (pop. 20,977) Postal receipts • . . . . . . . . . . . $ 3,092 + 5 + 62 Postal receipts • ....... ... ...$ 29,839 -27 + 1 Building permits, less federal contracts $ 0 Building permits, less federal contracts $ 350,169 +113 + 73 Bank debits (thousands) $ 3,499 + 22 + 17 Nonfarm placements . .. . . . ......... . 158 + 28 + 14 
End-of-month deposits (thousands) t .$ 2,227 -6 + 2 
Annual rate of deposit turnover.. . . . . 18.3 + 23 + 10 PASADENA: see HOUSTON SMSA 

NACOGDOCHES (pop. 15,450 r) 
PECOS (pop. 12,728) 
Postal receipts • ........ . . . ... . $ 26,329 -22 + 7 

Postal receipts • .. . . ... .. . . $ 10,346 -41 -18 Building permits, less federal contracts $ 223,988 + 174 4 
Bank debits (thousands) ... . .$ 17.981 5 -16 Bank debits (thousands) $ 26,729 2 + 8 
End-of-month deposits (thousands) i $ 11,049 + 2 -4 End-of-month deposits (thousands) i $ 22,706 + 9 1 
Annual rate of deposit turnover... .. . 19.7 -7 -10 Annual rate of deposit turnover.. . . . . 14.7 -6 + 8 
Nonfarm placements . . ..... . . . .... . . 49 + 26 -71 Nonfarm placements ...... ....... .. . 145 + 61 + 59 
PHARR: see McALLEN-PHARR-EDINBURG SMSA
For an explanation of symbols, please see p, 88. 

Percent change Percent change
Local Business Conditions Local Business Conditions 
Jan 1966 J an 1967 Jan 1966 Jan 1961 Jan from from Jan from from City and item 1967 Dec 1966 Jan 1966 City and item 1967 Dec 1966 Jan 1966 
PILOT POINT: see DALLAS SMSA SAN ANGELO (pop. 58,815) 
Postal receipts • ....... .. ... .. .. .. .. $ 107,534 -34 + 15 Building permits, less federal contracts $ 516,144 +138 + 67
PLAINVIEW (pop. 23,703) 
Bank debits (thousands) . . ...$ 84,011 + 7 + 3 Postal receipts • .....$ 35,403 4
-33 + End-of-month deposits (thousands) ,: $ 60,093 + 2 + 6 Building permits, less federal contracts $ 99,600 -40 -52 
Annual rate of deposit turnover. .. .. . 16.9 + 4 -2 Bank debits (thousands) $ 70,668 + 51 -7 End-of-month deposits (thousands) t $ 29,249 -5 -19 Annual rate of deposit turnover. .. ... 30.9 + 74 + 23 
SAN ANTONIO SMSA 

Nonfarm placements . ... .... . ....... 156 -7 -24 

(Bexar and Guadalupe; pop. 838,572 a) 

Building permits, less federal contracts $ 6,647,675 -7 + 28 
PLANO: see DALLAS SMSA Bank debits (thousands) II ... ....... .$12,253,824 + 6 + 7 
Nonfarm employment (area) . . . . . . . . 252,800 •• + 4 

Manufacturing employment (area) . 27,775 •• -2 
PLEASANTON (pop. 5,053 rr) Percent unemployed (area). 3.3 + 3 -21 
Building permits, less federal contracts $ 8,200 -41 + 28 
Bank debits (thousands) .....$ 4,679 + 16 -2 
End-of-month deposits (thousands) t $ 4,316 + + 10 SAN ANTONIO (pop. 655,006 r)
Annual rate of deposit turnover . . .. . . 13.3 + 13 -7 

Retail sales ........................ . -21 -24 •• Apparel stores ... -41 -45 + 2 Automotives stores . . . ... ..... . . . . 3 -20 3
PORT ARTHUR: see BEAUMONT-PORT ARTHUR­
Eating and drinking places ....... . -6 -5

ORANGE SMSA 
Furniture and household-appliance stores . . . . . . . . . . . . . . . . -41 -49 6 General-merchandise stores -48 ~ 47 -11
PORT ISABEL: see BROWNSVILLE-HARLINGEN­
Lumber , building material, 
SAN BENITO SMSA and hardware stores.... .. ..... . . -1 -5 + 24 
Postal receipts • . . . .. . .. . . ...... ....$ 994,453 -30 + 14 
Building permits, less federal contracts $ 6,129,498 8 + 28 

PORT NECHES: see BEAUMONT-PORT ARTHUR­Bank debits (thousands) $ 1,034,523 + 5 + 10 
End-of-month deposits (thousands) i $ 475,640 2 2

ORANGE SMSA ­
Annual rate of deposit turnover. . . . . . 25.8 + 5 + 10 
QUANAH (pop. 4,564) 
Postal receipts • . . . . . . . . . $ 4,446 -46 -l5 Schertz (pop. 2,281) 
Building perm~less federal contracts $ 0 

Postal receipts • ................... .$ 2,561 -52 + 61

Bank debits (thousands) $ 6,061 + 10 -7 Bank debits (thousands) ...... .. $ 635 -2 1 End-of-month deposits (thousands) t $ 6,111 + 4 + 13 End-of-month deposits (thousands) i. $ 1,079 2
+

Annual rate of deposit turnover..... . 11.2 -3 -21 Annual rate of deposit turnover..... . 7.1 •• + 6 
RAYMONDVILLE (pop. 9,385) 
Postal receipts • ..... ... ... .. .......$ 7,394 -39 + 37 Seguin (pop. 14,299) 
Building permits, less federal contracts $ 24,000 + 17 + 62 

Postal receipts • ........... ..... ....$ 15,539 -37 -4

Bank·debits (thousands) ......... ....$ 6,462 6 + 13 

Building permits, less federal contracts $ 87,940 + 11 -24
End-of-month deposits (thousands) i. $ 9,lSS -5 + 21 

Bank debits (thousands) ...... $ 14,231 + 4 -10Annual rate of deposit turnover..... . 8.2 -7 -6 End-of-month deposits (thousands) i .$ 15,857 + 1 4
Nonfarm placements ............... . 74 + 42 + 80 

Annual rate of deposit turnover . .... . 10.8 + 4 -7 
RICHARDSON: see DALLAS SMSA 

SAN BENITO: see BROWNSVILLE-HARLINGEN-SAN BENITO SMSA RICHMOND: see HOUSTON SMSA 
SAN JUAN: see McALLEN-PHARR-EDINBURG SMSA ROBSTOWN: see CORPUS CHRISTI SMSA 
. '.~f 

SAN MARCOS (pop. 12,713) ROSENBERG: see HOUSTON SMSA Postal receipts • ................. . . . $ 16,774 -80 + 8 Building permits, less federal contracts $ 266,400 -20 + 78 Bank debits (thousands) .......... ...$ 14,167 + 10 + 2
SAN ANGELO SMSA 

End-of-month deposits (thousands) i $ 15,784 •• + 8
(Tom Green; pop. 74,127 •) Annual rate of deposit turnover..... . 10.8 + 10 7 Building permits, less federal contracts $ 516.144 +138 + 67 Bank debits (thousands) 11-..........$ 906,084 -5 •• Nonfarm employment (area) ....... . 22.100 -2 + 4 SAN SABA (pop. 2,728) 
Manufacturing employment (area) . 3,600 •• + 14 Building permits, less federal contracts $ 4,000 -78 -90 Percent unemployed (area) .... . ... . . 4.2 + 27 + 8 
Bank delJits (thousands) . . ........ ...$ 6,229 6

+ + 16 

End-of-month deposits (thousands) i $ 5,370 2 + 6 For an explanation of symbols, please see p. 88. Annual rate of deposit turnover..... . 13.8 + 6 + 11 
98 TEXAS BUSINESS REViEW 
Local Business ·conditions City and item  Jan 1967  Percent" change Jan 19&6 Jan 1967 from from Dec 1966 Jan 1966  Local Business Conditions City and ite>il  Jan 1967  Percent change Jan 1966 Jan 1967 from from Dec 1966 Jan 1966  
SCHERTZ: see SAN ANTONIO SMSA  STRATFORD (pop. 1,380) Postal receipts * ... ..$  2,388  -88  + 19  
Building permits, less federal contracts $  47,100  5  
SEAGOVILLE: see DALLAS SMSA  Bank debits (thousands) . . ... . . . . . $ End-of-month deposits (thousands) t $  9,469 6,247  + 12 + 6  +  8 5  
Annual rate of deposit turnover .. . .  18.7  + 4  8  
SEGUIN: see SAN ANTONIO SMSA  SWEETWATER (pop. 13,914)  
Postal receipts •  ... . .. $  19,272  -29  + 13  
SHERMAN (pop. 30,660 r)  Building permits, less iederal contracts $ Bank debits (thousands) .... .$  5,580 21,152  -23 + 30  + 12  
Retail sales  .. . ...... . .. . . . ....... .. .  -15 t  -39  + 20  End-of-month  deposits  (thousands) t $  11,717  + 9  + 9  
Automotives  stores  - 1 t  -24  + 27  Annual  rate of deposit turnover.  22.6  + 22  + 10  
Postal receipts •  . . ..... . ... . . . ......$  38,031  -87  -10  Nonfarm placements  ...  112  - 16  - 7  
Building permits, Jess federal contracts $  605,649  +148  -89  
Bank debits (thousands) $ End-of-month deposits (thousands) t $ Annual rate of deposit turnover. Nonfarm placements . . . . ...... . .... . 46,586 24,211 22.7 111  + 21 -11 + 28 -19  + 11 -2 + 16 -26  TAYLOR (pop. 9,434) Postal receipts • .............. .. $ Building permits, Jess federal contracts $ Bank debits (thousands) . . . . . $  10,815 6,300 12,678  -83 -94 + 12  -4 -94 + 12  
End-of-month deposits  (thousands) t $  18,252  - 1  + 7  
Annual rate of deposit turnover.  8.8  + 14  + 5  
SILSBEE (pop. 6,277)  Nonfarm placements  ... ....... ..... .  14  - 7  -67  
Bank debits (thousands)... . . .. . .. $ End-of-month deposits · (thousands) t $  6,781 6,887  2 + 2  + 18 + 20  TEMPLE (pop. 34,730 r)  
Annual rate of deposit turnover . . . . . .  10.2  6  - 1  Retail sales  ...  -15 t  -29  1  
Apparel  stores  . ... . ........... . . .  -46 t  -68  8  
Eating and drinking places .  - 2t  - 5  + 5  
SINTON: see CORPUS CHRISTI SMSA  Furniture and household-appliance stores ....... ... ..... .  -16 t  -81  -20  
Postal receipts •  .......$  52,293  -29  - 4  
SLATON:  see  LUBBOCK SMSA  Building permits, less federal contracts $ Bank debits (thousands) ... ..... . ....$  582,286 89,441  +696 + 5  + 88 + 5  
Nonfarm placements .. . .. ... .. ..... .  180  + 10  + 2  
SMITHVILLE (pop. 2,933)  TERRELL (pop. 13,803)  
Postal receipts •  .. . ... ..... .. ...... .$  8,629  -28  + 67  Postal receipts •  ... . . .... ... . . .. ....$  10,786  -41  + 18  
Building permits, less federal contracts $  2,600  +400  Building permits, less federal contracts $  89,050  +174  -21  
Bank debits  (thousands)  ........$  2,077  + 81  + 10  Bank debits  (thousands) . . .  . . $  12,187  1  + 7  
End-of-month deposits (thousands) i . $ Annual rate of deposit turnover . .... .  2,464 9.8  -6 + 84  + 8 + 8  End-of-month deposits (thousands) t . $ Annual rate of deposit turnover. . .  9,822 14.2  9 + 2  7 + 9  
TEXARKANA SMSA  
SNYDER (pop. 13,850)  (Bowie, excluding Miller, Ark.; pop. 67,206 •)  
Postal receipts • "." "" .. " "" ".$ Building permits, less federal contracts $ Bank debits (thousands) ... .... ... . . . $  18,112 18,200 18,890  -48 -48 + 7  -1 -29 + 10  Building permits, less federal contracts $ Bank debits (thousands) II .. .. ... ... . $ Nonfarm employment (area) . 165,840 1,224,872 37,850  -76 + 10 ••  -54 + 21 + 18  
End-of-month deposits  (thousands) t $  20,708  +  5  - 1  Manufacturing employment (area) .  10,060  +  2  + 89  
Annual rate of deposit turnover. .. . ..  10.9  +  5  +n  Percent unemployed  (area) . . ... .... .  8.4  +  10  -81  
TEXARKANA (pop. 50,006 r)  
SOUTH HOUSTON: see HOUSTON SMSA  Retail sales  . .. .... ............ ..... .  -15 t  -24  + 14  
Postal receipts •  . . . . ..... .. . ... ... .$  86,569  -16  + 6  
Building permits, less federal contracts $  166,840  -76  -87  
SULPHUR SPRINGS (pop. 9,160) Postal receipts • . .. . . .... .. .. .. . ....$ Building permits, less federal contracts $ Bank debits (thousands) ... ......... .$ 21,451 481,100 19,082  -14 + 89 -11  + 16 -88 + 17  Bank debits (thousands) . . ...... ... .$ End-of-month deposits (thousands) t $ Annual rate of deposit turnover. .... .  96,986 25,935 28.6  + 8 + + 5  + 20 + 11 + 9  
End-of-month  deposits  (thousands) i $  17,686  + 2  + 18  TEXAS CITY: see GALVESTON-TEXAS CITY SMSA  
Annual rate of deposit turnover..... .  18.1  -14  +  
TOMBALL: see HOUSTON SMSA  
STEPHENVILLE (pop. 7,359)  
Postal receipts •  ........... . ........$  11,058  -52  + 10  TYLER SMSA  
Building permits, less federal contracts $ Bank debits (thousands) .............$  6,800 11,677  -88 + 19  -90 + 12  (Smith: pop. 99,142 a)  
End-of-month deposits (thousands) i $ Annual rate of deposit turnover..... . 11,006 18.0  + 4 + 16  + 8 + 6  Building permits, less federal contracts $ 893,125 Bank debits (thousands) II ...........$ 1,658,796  +878 + 1  -20 + 6  
Nonfarm  employment  (area) . . . . . . . .  84,860  - 1  + 4  
Manufacturing employment  (area) .  9,670  + 1  + 11  
For an explanation of symbols, please see p. 88.  Percent unemployed  (area) ..........  8.2  + 10  -18  

Percent change 	Percent change
Local Business Conditions 	Local Business Conditions 
Jan 1966 Jan 19&7 Jan 1966 Jan 1967 Jan from from Jan from from City and item 1967 .Dee 1966 Jan 1966 City and item 1967 Dee 1966 Jan 1966 
TYLER (pop. 51,230) WAXAHACHIE: see DALLAS SMSA 

Retail _sales . .......... . ....... . . -15 t -10 + 12 


Apparel stores . . . . ....... . .. ... . . -46 t -51 + 8 Postal receipts • . . ... . ... .. .... . ....$ 116,045 -35 + 2 Building perm'ii:s, less federal contracts $ 885,625 +376 -20 Bank debits (thousands) .............$ 143,926 + 10 + 9 WEATHERFORD (pop. 9,759) End-of-month deposits (thousands) i $ 74,653 -10 5 
Postal receipts• . . $ 14,959 -38 + 7Annual rate of deposit turnover. . ... . 21.9 + 12 + 8 
Building permits, less federal contracts $ 63,900 +102 -80 
Nonfarm placements .... . . .... .. .. . . 534 + 17 6 

End-of-month deposits (thousands) i $ 15,819 + 1 + 8 
UVALDE (pop. 10,293) 
Postal receipts • ............ ........ $ 12,149 -32 + 8 


WESLACO: see McALLEN-PHARR-EDINBURG SMSA
Building permits, less federal contracts $ 41,693 -26 -64 Bank debits (thousands) .. ........ , . . $ 18,937 + 20 + 25 End-of-month deposits (thousands) i $ 9,603 .. -2 Annual rate of deposit turnover... 23.7 + 23 + 24 

WHITE SETTLEMENT: see FORT WORTH SMSA 
VERNON (pop. 12,141) 
Building permits, less federal contracts $ 33,475 +517 + 10 
WICHITA FALLS SMSA
Bank debits (thousands) . . . . .. .$ 20,189 + 1 -10 
End-of-month deposits (thousands) i $ 21,571 -3 + 3 

(Archer and Wichita; pop. 128,508 a)
Annual rate of deposit turnover... . . . 11.0 -1 -13 

Nonfarm placements .. .. . . .... . .... . 74 + 61 -4 	Building permits, less federal cc;mtracts $ 438,469 + 85 + 4 Bank debits (thousands) 11 -..........$ 2,105,628 + 2 9 Nonfarm employment (area) . . . . . . . . 49,000 -2 + 8 
Manufacturing employment (area) . 4,340 -1 + 5
VICTORIA (pop. 33,047) 

Percent unemployed (area) . 8.2 + 19 + 8 Retw1 sales .. ........ ..... .. .. ... .. . -15 t -25 + 1 
Automotives stores ..... . ..... ... . -lt -18 -11 
Postal receipts • . .. ... .. ... ...... . . . $ 50,39il -30 + 4 
Building permits, less federal contracts $ 667,010 +107 +474 Iowa Park (pop. 5,152 r) 
Bank debits (thousands) .. , .........$ 97,216 + 20 + 16 

Building permits, less federal contracts $ 5,300 -74 -95End-of-month deposits (thousands) i $ 90,672 -10 -4 Bank debits (thousands) $ 3,322 5 -11 Annual rate of deposit turnover... . . . 12.2 + 21 + 17 End-of-month deposits (thousands) t $ 3,985 + 4 7 Nonfarm placements . .. .. .. .. .. . ... . 880 -8 -12 Annual rate of deposit turnover . ... . . 10.2 8 -1 
WACO SMSA 
(McLennan; pop. 155,413 a) 


WICHITA FALLS (pop. 101, 724) 
Building permits, less federal contracts $ 653.,859 + 19 -64 

Retail sales ......................... -15 t -87 + 10 

Bank debits (thousands) 11-. •. . . .. . .. $ 2,193,336 + 12 + 9 
Automotives stores .. .. .. ....... .. -1 t -18 + 7 

Nonfarm employment (area) . . . . . . . . 54,800 -2 + 2 

Postal receipts• 	$ 132,550 -40 4
+
Manufacturing employment (area) . 12,040 -2 + 6 

Building permits, less federal contracts $ 409,119 + 85 + 2 Percent unemployed (area) . . . . . . . . . . 4.8 + 45 + 2 
Bank debits (thousands) .. ... .... .. .. $ 178,036 + 11 4 End-of-month deposits (thousands) i $ 99,128 4 4 Annual rate of deposit turnover.. .... 20.5 + 8 + 4 
McGregor (pop. 4,642) 
Building permits, less federal contracts $ 4,700 +189 -96 
Bank debits (thousands) ........... . . $ 4,949 + 8 -19 

LOWER RIO GRANDE VALLEY 

End-of-month deposits (thousands) i. $ 7,159 -5 + 8 
Annual rate of deposit turnover. . ... . 8.1 + 11 -26 (Cameron, Willacy, and Hidalgo; pop. 340,415 •) 

Retail sales 	-9t -28 ••
··· ··· ···· ··········· ··· · 
Apparel stores ........... ... ... .. ---Automotives stores ...... ..... .... -1 t -18 -1 

WACO (pop. 103,462) 	46t 54 1 
Retail sales tt ....... .......... · · · · · -15 t -19 + 10 

Drugstores 
··· ·· ·· ·· ·· ····· ··· ···· -28t -18 ••
Automotive stores tt ............. . -lt -11 + 9 

Eating and drinking places..... . .. -2t -10 -10 Furniture and household-
Food stores .. ..... .... ......... .. . -18 t -10 -8

a11pliance storestt .. .. .. . ..... . . -15 t -15 	+ 20 
Furniture and household-
Postal receipts • ........ ..... .......$ 203,403 -33 + 5 

appliance stores 	-15 t -40, 

Building permits, less federal contracts $ 522,659 -2 -69 	············ ···· •• 
Gasoline and service stations.. ..... -St -7 + 1
Bank debits (thousands) ......... .. ..$ 175,489 + 9 + 7 

General merchandise stores.. . . . . ... -58t -53 7End-of-month deposits (thousands) t .$ 95,669 •• + 6 Lumber, building material,Annual rate of deposit turnover... . . . 22.1 + 9 + 4 
and hardware stores...... ....... + 1 t -80 	+ 4 +
Building permits·, less federal contracts + 9 90 

Bank debits (thousands) .... . . ...... . + 7 + 12 tt Reported In cooperation with the Baylor University Bureau of Research. End-of-month deposits (thousands) i. 
+ 8 + 1 Annual rate of deposit turnover. . . .. . 18.2

For an explanation of symbols, please see p. 88. 	+ 4 + 6 
100 	TEXAS BUSINESS REVIEW 



BAROMETERS OF TEXAS BUSINESS 

(All figures are for Texas unless otherwise indicated.) 
All indexes are based on the average months for 1957-59 except where other specification is made; all except annual indexes are adjusted for seasonal variation unless otherwise noted. Employment estimates are compiled by the Texas Employment Commission in cooperation with the Bureau of Labor Statistics of the U.S. Department of Labor. The symbols used below impose qualifications as indicated here: •-preliminary data subject to revision; r-revised data; #-dollar totals for the calendar year to date; §-dollar totals for the fiscal year to date; t-employment data for wage and salary workers only. 
Jan Dec JRn 1967 1900 1966 

GENERAL BUSINESS ACTIVITY  
Business activity (index) . . ....... . ............. .. . . . . . . . . . ... .. .  185.9  172.9  168.0  
U.S. wholesale prices (unadjusted index) ............ . . . . . . .. .. . . . . .  106.2  105.9  104.6  
Consumers' prices in Houston (unadjusted index) .  113.0  110.0  
U.S. consumers' prices (unadjusted index) .. ................... .  114.7  114.7  111.0  
Income payments to individuals in U.S. (billions, at seasonally ad­ 
justed annual rate) . . ......... . .  $ 607.2.  $ 601.8.  $ 560.2 r  
Business failures (number) . . . . . . . . . . . . . . . . .. . .. . . .. . .  34  32  43  
Business failures (liabilities, thousands) ... .. . . . . . . . ... . ... .. ... .. . .  $ 3,788  $ 3,546  $ 2,086  
Newspaper linage (index) ......................... . . ....... . ... . .  119.5  121.4  120.1  
Ordinary­life-insurance sales (index) . . ............ . ... . . .  161.9  192.8  155.7  
Miscellaneous freight carloadings in S.W. District (index)  80.9  81.7  79.7  
TRADE  
Total retail sales (millions) .  $ 1,282.0  $1,671.0  $1,186.0  
Durable-goods sales (millions) . . ...... .. .  $ 428.0  $ 497.0  $ 399.0  
Nondurable-goods sales (millions) .. .................. .  $ 854.0  $ 1,174.0  $ 787.0  
Ratio of credit sales to net sales in .department and apparel stores .  62.2.  59.0.  62.9 r  
Ratio of collections to outstandings in department and apparel stores .  33.5.  38.3.  33.8 r  
PRODUCTION  
Total electric-power use (index) .......... .  193.5 •  195.5 •  176.7 r  
Industrial electric-power use (index) .. .  178.2.  183.0.  165.4 r  
Crude-oil production (index)  105.2.  104.0.  99.0r  
Average daily production per oil well (bbl.) ... . . . .. .  14.8  14.5  14.1  
Crude oil runs to stills (index) .......... . . .. ... ... .. .. . . .. . .. .  117.4  126.3  117.2  
U.S. industrial production (index) ..... . . ... . . .... . .... .  157.9.  158.9.  150.6 r  
Industrial production-total (index) ... .. .... .  152.8 •  152.5.  142.4 r  
Industrial production-total manufactures (index) .......... . ... .. .  169.3.  171.3 •  158.1 r  
Industrial production-durable manufactures (index)  192.9.  191.0 •  173.7 r  
Industrial production-nondurable manufactures (index) .... . .... .  153.6.  158.2.  147.7 r  
Industrial production-mining (index) ............ . .  120.3.  118.0.  112.3 r  
Industrial production-utilities (index) ............ .  198.3.  188.5 •  181.2 r  
Building construction authorized (index) ........... ..... . . . . . . .. . .  106.6  105.3  130.5  
New residential building authorized (index) ....... . . .. ... ... . .  87.4  68.4  113.0  
New nonresidential building authorized (index) . .. . .... . . .  130.4  150.6  162.8  
AGRICULTURE  
Prices received by farmers (unadjusted index, 1910-14=100) ........ .  241  24-0  259  
Prices paid by farmers in U.S. (unadjusted index, 1910-14=100)  340  337  327  
Ratio of Texas farm prices received to U.S. prices paid by farmers ...  71  71  79  
FINANCE  
Bank debits (index) . . .......... . . . . U.S. bank debits (index) . . . . . . . . . . . . . . .. ....... .. .. .. .. .  197.4 222.0  183.1 221.9  175.7 191.8  
Reporting member banks, Dallas Federal Reserve District  
Loans (millions) .......... ... .. ...... ... . .. . Loans and investments (millions) . . . . . . . . . . . . . . . . . .... ... . Adjusted demand deposits (millions) . . . .. .. . .... . Revenue receipts of the state comptroller (thousands) Federal internal revenue collections (thousands) .. Securities registrations-original applications  $ 4,826 $ 7,053 $ 2,911 $181,687 $278,204  $ 4,931 $ 7,156 $ 3,152 $147,786 $303,301  $ 4,645 $ 6,856 $ 2,811 $143,328 $225,938  
Mutual investment companies (thousands) ... . .. . . ..... . ... . . . . All other corporate securities  $ 15,850  $ 2,985  $ 30,135  
Texas companies (thousands) . Other companies (thousands) Securities registrations-renewals  $ 7,694 $ 7,074  $ 2,400 $ 2,280  $ 445 $ 1,924  
Mutual investment companies (thousands) . All other corporate securities (thousands) .... . .. . ... . . .  $ 20,452 $ 586  $ 3,502 $ 61  $ 13,787 $ 919  
LABOR  
Manufacturing employment in Texas (index) t. . . ..... . . . . . .. . . . Total nonagricultural employment in Texas (index) t . . . .. . . . . .... . Average weekly hours-manufacturing (index) t ... . .. .. . . . Average weekly earnings-manufacturing (index) t . Total nonagricultural employment (thousands) t . Total manufacturing employment (thousands) t. Durable-goods employment (thousands) t ......... . . Nondurable-goods employment (thousands) t ... . .... .. .. . Total nonagricultural labor force in selected labor market areas  132.3 • 129.3 • 99.7. 124.7. 3,164.7 • 631.3. 338.8. 292.5.  132.1 • 127.7 • 101.1 • 127.5 • 3,216.0. 637.0. 339.2. 297.8.  122.6 r 121.5 r 101.7 r 123.3 r 2,973.2 r 590.5 r 306.9 r 283.6 r  
(thousands) .............................. . ..... . .......... . . Employment in _selected labor m~rket ar~as_ . (tJ:10~sands) ...... : .. . Manufactunng employment m selected.-labor market areas  . 2,983.1 2,819.4  2,980.9 2,828.9  2,848.2 2,673.0  
(thousands) .... . .......... . ..... . .. . Total unemployment in selected labor market areas (thousands) .. Percent of labor force unemployed in selectel labor market  534.2 85.2  529.7 77.4  496.3 101.5  
areas . . ..... . ... ... .............. . ... .. ... .. ....... . .  2.9  2.6  3.6  

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New Publication 

DIRECTORY OF WOOD-USING AND 
RELATED INDUSTRIES IN EAST TEXAS 

Compiled by Nelson T. Samson 
of 

The School of Forestry 
Stephen F. Austin State College 
Nacogdoches, Texas 

This special directory will serve as a supplement to the Directory of Texas Manufacturers, pub­lished by the Bureau of Business Research. 
$2.00 -Texas residents pay a 2% sales tax. 
BUREAU OF BUSINESS RESEARCH 
The University of Texas 
Austin, Texas 78712