TEXAS BUSINESS REVIEW BUREAU OF BUSINESS RESEARCH THE UNIVERSITY OF TEXAS A. Monthly Summary of Business and Economic Conditions in Texaa FEBRUARY 1961 VOL. XXXV, NO. 2 $3.00 A YEAR Review of Texas Business-1960 by Francis 8. May by Charles 0. Bettinger Texas Building Shows Mixed Movement by James J. Kelly Texas Industrial Growth Still Strong ANNUAL ISSUE Editor ················--····John R. Stockton Managing Editor .......... James J. Kelly BUSINESS RESEARCH COUNCIL John Arch White, Dean of the College of Business Administration (""' officio) ; John R. Stockton; Jessamon Dawe; J. Neff; G. H. New­love; W. T. Tucker; and E. W. Walker. BUREAU OF BUSINESS RESEARCH John R. Stockton Stanley A. Arblngast Director Associa.te Director R.,.c>urces Speci4li8t Florence Escott Asoistant to the Francis B. Ma:v Director Stn<>mico Charles T. Clark Robert H. R:van Assistant Prof•••or of Special Instructor '" Business Statiatica Buri~•• Writing John L:vmberopoulos Instructor in BusineBB Statwtica Assistants Nell Abell; John R. Brown, Jr.; Jamee C. Cline; Mary Blanche Fanett; Bruce A. Fox ; Joe H. Jones ; Fredolin J. Kaderli; Alfred C. Mitchell ; Elizabeth R. Turpin; Maril:vn C. Whites. TEXAS BUSINESS REVIEW VOL. XXXV, NO. 2 FEBRUARY 1961 THIS MONTH'S ARTICLES Review of Texas Business-1960................................................................ 3 Texas Industrial Growth Still Strong ............................................................ 6 State Agriculture at Near Record Level ····································--··········· 10 Texas Building Shows Mixed Movement .................................................... 12 Retail Sales Fall Short ··················-········-·········································-····-···· 14 THIS MONTH'S TABLES Selected Barometers of Texas Business........................................................ 3 Estimates of Nonagricultural Employment ................................................ 9 Farm Cash Income by Commoditier-1960 ................................................ I 0 Index of Prices Received by Farmers ........................................................ 11 Construction in Selected Citier-1960 .................................................... 12 Estimated Value of Building Authorized .................................................... 13 Retail Sales Trends by Kinds of Business .................................................... 14 Credit Ratios in Department and Apparel Stores .................................... 14 Estimates of Total Retail Sales .................................................................... 15 Local Business Conditions .......................................................................... 16 Barometers of Texas Business·············································-······················--32 THIS MONTH'S CHARTS Crude Petroleum Production .................................................................... 4 Index Average Weekly Earningr-Manufacturing .................................... 4 Texas Business Activity ................................................................................ 5 Texas Industrial Production ........................................................................ 6 Texas Industrial Production--Durable Manufactures ................................ 7 Texas Industrial Production-Nondurable Manufactures ........................ 7 Construction in Texas by Quarters ................................. ........................... 12 Federal Reserve Member Bank Free Reserves, United States .................... 13 Published monthl:v b:v the Bureau of Business Research, College of Business Adminietratlon, The Universlt:v of Texas Austin 12. Second-class postage paid at Austin, Texas. Content of this publication is not copyrighted and ma:v be reproduced freel:v. Acknowledgment of eource will be appreciated. Subacriptlon, $3.00 a :rear; Individual copies, 26 cents. TEXAS BUSINESS REVIEW Review of Texas Business-1960 By FRANCIS B. MAY The seasonally adjusted Index of Texas Business Activ­ity in December hovered at 226% 0£ the 1947-49 average rate, unchanged from the November value. It was 1% above the December 1959 figure. In December 1959 the index was depressed as a result 0£ the protracted steel strike. In December 1960 the index was depressed by the effects of the mild hut protracted recession affecting the national economy as well as the effects of special factors operating upon the state's basic industries. The average value of the index of business activity for all of 1960 was 226%. This was 3.7% above the 1959 average of 218%. Ten of the twelve 1960 monthly values of the index were above the corresponding 1959 month. Only in July and October was the index lower. It can he said that the state's economy gained ground slightly, de­spite adverse influences of both a national and a regional character. The strength in the state's economy was not reflected in the seasonally adjusted index of freight carloadings in December. At 71 % of the 1947-49 average the index was 4% below November and 7% below December of 1959. This index reached its high of the year when it touched 83% in April. The December value of 71 % was the lowest since December 1940 when a value 0£ 68% was reached. Other transportation media: air lines, pipelines, trucks and water transport, continue to whittle away the rails' traffic volume. December crude petroleum production showed a wel­comed increase of 7% above November. This was the second consecutive month of increase in the value of the index, November showing a 3% increase over October. After a flying start in 1960 with ten days proration during the first three months, the index dribbled to a low of 103 in October as a result of successive reductions in the num- SELECTED BAaOllETEll.5 OF TEXAS SUSINEU Percent chanire Dec Nov Dec 1960 1960 1959 Dee 1960 Dec 1960 from from Index (1947-49=100) Nov 1960 Dee 1959 Texas business activity .............. 226 226 228 •• + 1 :Miscellaneous fr~ht carloadinp In S.W. district.... 71 74 76 4 7 Crude petroleum production ...... 113• 106• 115 + 7 2 Crude oil rune to etille ................ 144 146 146 -1 1 Total electric power consumption 377• 896• 868r 5 + 2 --····--·········-·······-···· Industrial power conoumption.... 366• 386• 878r 5 8 Bank debits .................................... 270 270 266 •• + 2 Ordinary life insurance sales .... 423 453 (67 -7 7 Total retail sales .......................... 233• 234r 243r •• Durable-iroode sales .................. 156• 166r 156r -6 ••' N ondurable-irooda aalea ---·--·-·· 27( 269r 288r + 2 -5 Urban building permits iaeued .... 234 200 246 + 17 -5 Reeidential ······························-··· 178 198 228 -10 -22 Nonresidential ............................ 313 209 278 + 50 + 13 Total industrial production ----·· 172 171 171 + 1 + 1 Averaire weekly earninp manufacturinir ····-····················· 176.lr -+ 1 174.5• 173.4 1 Adjusted for eeaaonal variation. • Preliminary. r Revised. •• Change is leas than one-half of one percent. her of producing days. Since allowables were restricted to eight days from May to November, inclusive, much 0£ the month-to-month fluctuation during this period was due to calendar variation and variation in the percentage of total allowable that producers were able to squeeze out of their wells. Fluctuations in the length of the month operates on total production because of the large volume of unprorated production from secondary-recovery' projects and stripper wells. The superfluity of overmature jokes about "poor" Texas oil men (the one's reduced to polishing their Rolls-Royces with the wife's second-best mink stole} is one of the minor aggravations that the state has been forced to endure dur­ing this trying period when revenues were reduced sub­stantially by strict proration. During the worst months of 1960, crude oil production per well in Texas averaged 12.1 barrels a day. The average well was something nearer to a piddler than a gusher. Under conditions of such low production, the investor in oil wells must expect a very slow "pay-out." Since most oil drilling is done with bor­rowed money, the slow pay-out inevitably restricts the total volume of new wells drilled. A look at the total number of wells drilled in 1960 in Texas confirms that slow pay-out means reduced drilling. For the January-November 1960 period World Oil reports that 13,864 new wells were drilled in Texas, a 14% drop from the 16,194 drilled in the same period of 1959. Total footage drilled in the first eleven months of 1960 was 61.l million, down 15% from the 71.6 million feet drilled in the comparable 1959 period. Of the total wells drilled in Texas in the first eleven months of 1960, 3,019 were "wild­cat" or exploratory wells, a drop of 14% from 1959. Na­tionally, total wells drilled in the first eleven months of 1960 dropped to 42,677 from 45,913 in 1959, a 7% de­cline. The pinch of proration obviously affected drilling in Texas adversely. The decline in wildcats is particularly serious, for it means a decrease in the search for new oil reserves. The Texas Railroad Commission has ordered 9 days' production for January and 8 for February. A comparison of these two months for the past several years follows: Number of Days Proration January February 1957 16 15 1958 12 11 1959 12 11 1960 10 10 1961 9 8 The seasonally adjusted index of crude oil runs to stills in December stood at 144% of the 1947-49 average. It was 1 % below the November 1960 level and the same percent­age below December 1959. This is a desirable change in the index. Refinery runs have been a little too high tlirough­out much of 1960, resulting in excessive inventories of refined products. Price cuts were resorted to during the first half of the year in an effort to dispose of these ex­cessive gasoline and fuel oil inventories. Severe proration in Texas reduced inventories of crude to the point where refinery runs were cut back. The result­\ng improvement in stock levels has led to a firmer tone in 1-rices. The reduction in inventories of refined products was accelerated in December by unusually cold weather throughout much of the country. Over-all domestic consumption of petroleum hydrocar­bons in 1960 was up slightly more than 3% over 1959. However, much of this increase in demand was absorbed by an increase of 5% in natural gas consumption, an in· crease of 5.2% in imports of crude oil and an increase in the production of natural gas liquids of 6.9%. Average daily production of domestic crude oil in 1960 dropped 0.5% below 1959. It is apparent that increases in the de­mand for petroleum energy are being supplied by natural gas, gas liquids, and imported crude. Forecasts of petroleum demand in 1961 made by the U. S. Bureau of Mines anticipate a 2.7% increase over 1960 in the demand for domestic crude. It is to be hoped Cr.de Petroleum Prodactloa la Texas of the first nine months of 1960. In the fourth quarter it showed the effects of the recession, dropping below 1959 in each of the final three months of the year. Despite the year-end weakness the index averaged 389% in 1960. At this figure it was 4% above the 1959 monthly average. Ordinary life insurance sales in December dropped 7% from November after allowance is made for seasonal factors. At 423% of the 1947:....49 average the index was 7% below December 1959. Monthly sales in 1960 were above the comparable 1959 month on nine occasions. The average value of the index in 1960 was 416% which was 2% above the 1959 monthly average. It is apparent that 1960 was a fairly good year for the Texas life insurance industry. Continued increase in per capita income, num. her of families, and a continuation of the trend toward larger families will mean continued growth in life insur­ance sales. There wasn't a year in the decade of the 1950's tha~ ordinary life insurance sales in Texas didn't increase. hera11 Weuly Earalags, Texas lh11fadari11 l1d11trl1s Index , Adjusted for seasonal voriation , 1947-1949-100 Index , Adjusted for seasonal variation , 1947-1949°100 200 50 00 0 19.U '4 '.49 '50 that Texas producers will be permitted to share this growth of the market. It is important to the economic growth of the state that this should occur. This means that other oil producing states must bear their share of the responsibility for avoiding wastefully excessive production. In this con­nection it should be noted that between February 1959 and October 1960, Louisiana production as reported by the U. S Bureau of Mines increased from 949,400 to 1,101,700 barrels a day, an increase of more than 150,000 barrels. The Railroad Corrunission is bound by the Texas market demand law to restrict output to the demand for crude of Texas origin. The purpose of this law is to prevent physi· cal waste of an irreplaceable natural resource due to over­production. No other state has such a law. Each petroleum producing state should enact a similar law as a conserva· tion measure to prevent chaotic conditions resulting from widespread overproduction. Total electric power consumption in Texas declined 5% in December, after allowance is made for seasonal vari­ation. At 377% of the 1947-49 average value the index was in December at a level 2% above December 1959. The index was above the corresponding 1959 month every month of 1960. Its average value in 1960 was 7.4% above 1959. The rapid growth of population in the state plus increasing use of electrical appliances of all kind provides a strong base of growth in electric power consumption. This growth seems certain to continue into the future. Industrial electric power consumption dropped 5% in December to a level 2% below December of 1959. This index was above the corresponding 1959 month for each •Data after 1937 not strM:tfy CO"'f>Clroble with preceding years doe lo changes in SIC code. So11ru : C0Mp11i.d fro"' dor• 111ppli•d by the Tu o1 EMpJoy111en! Com..,i11to11 and lh• U11i1ul StotH Bur• o11 ol Lobor S1oti1riu . At the end of the decade of the 1960's the same statement will be true. The seasonally adjusted index of total retail sales in Texas in December was virtually unchanged from the No­vember level of 234. At 233 the index was down about 0.4%. A rise in the volume of sales of nondurable goods was offset by a decline in the sales of durable goods. December sales of nondurables were particularly good in the apparel sector. Department stores and jewelry stores did well. In the durable goods sector, high December sales of furniture and household appliances were overshadowed by sluggish sales of motor vehicles, farm implements, and building materials. Nationally, December retail sales declined from a sea­sonally adjusted level of $18.4 billion in November to $18.2 billion, a 1% drop. The poor showing was due to a decline in sales of durable goods from $6.0 billion in No­vember to $5.6 billion. Nondurables rose from $12.4 bil· lion in November to $12.5 billion in December, a 1% increase. At the recent meeting of the National Retail Merchants Association in New York there was an air of optimism with respect to the 1961 volume of business. The anticipated upswing in economic activity in the second half of the year will be reflected in increased activity at the sales counter. Spring sales are expected to be near the spring 1960 level. An increase in total retail sales for 1961 of 2% is generally TEXAS BUSINESS REVIEW expected. The trend toward purchases of better quality merchandise is expected to continue. In the durables cate· gory, automobile sales are a question mark. At the end of December, inventories of unsold cars were high. Compact cars are moving briskly but the not-so-compact ones are not doing equally well. Urban building permits issued in December rose 17% after seasonal adjustment. A 50% increase in nonresiden­tial permits offset a decline in residential to produce the sharp upthrust in the index. A rise in construction of apartment buildings was not enough to offset the decline in construction of one-family homes. In the nonresidential sector, construction of hotels, fac­tory buildings, and public works increased. The principal increases were in hotels and public works. Total nonagricultural employment in December was 2,533,500 according to Texas Employment Commission re­ports. This was 1,000 fewer than the total for December 1959. Declines in the manufacture of transportation equip­ment (principally aircraft), in petroleum production, and construction offset increases in employment in the manu­facture of chemicals, in state and local government em· ployment, and in service industries. One of the largest year-to-year declines was a reduction of 5,800 workers engaged in petroleum production. Unemployment among those insured under state unem­ployment insurance programs in Texas was 3.8% of covered employment in December. This was somewhat higher on a year·to-year basis than the 2.8% unemployed in December 1959. Nationally there was an unemployment rate of 6.0% among insured unemployed in December. Texas ranked near the bottom among the 50 states and the District of Columbia. Insured unemployment among the West South Central States in December was: Texas 3.8% Louisiana 6.0% Oklahoma 5.8% New Mexico 5.4% Texas has been below the national average all year. It is apparent that while 1960 did not fulfill the opti­mistic expectations of 1959, on the whole it was a good year. The state's economy survived tight proration, a de­cline in farm income, and a mild recession arising in the durable manufactures sector with remarkable vitality. There is every reason to anticipate that the revival in the nation's business expected during the second half of 1961 will give a lift to the state's economy. There is an additional factor that warrants optimism in Texas. The state's important petrochemical industry is experiencing a strong upsurge in the rate of investment. Existing facilities are being expanded and new ones are being built. This is a result partly of established companies expanding and partly due to outsiders diversifying into chemicals. Although it is experiencing some foreign com­petition, the chemical business has a strong growth rate. Some of the new products to be manufactured will replace coal tar derivatives. The reduced rate of operation of the steel industry has reduced the demand for coke. This in turn has reduced the supply of coke-oven by-product tar from which many industrial chemicals are made. Texas is feeling the effects of this expansion in petro­chemicals. In the past year, employment in the industry has increased by 1,000 to 43,800. The economic effect of this increase is an addition of more than $6,000,000 to pay­rolls. As further expansion in employment occurs, payrolls will continue to expand. Texas Business Activity Index • Adjusted for seasonal variation • 1947-1949,,100 ..... A ~ ~ " """"" ... ~. ~ rJVV\ rvv' 'V" y -N ~ ~ ~.. 1.-v-"~. 300 300 250 250 200 200 150 150 100 100 50 50 0 ° 1947 '48 '49 '50 '51 '·52 '53 '54 ·55 '56 '57 '58 '59 '60 Texas Industrial Growth Still Strong By JAMES J. KELLY The Texas industrial community continued to show solid growth last year. Although some industries, notably oil production and steel manufacturing were in trouble, others like aircraft manufacturing were making a comeback by diversifying into different products while chemicals, food processing, and apparel were showing healthy expansion. Some areas of the state were having serious economic problems. Other areas were growing at a rate faster than the United States as a whole, as witness the Gulf Coast, the metropolitan centers of the Texas Blacklands, the Permian Basin of West Texas, and the High Plains of the Pan­handle. Texas l1d11strlal Prodactlon Texas industrial activity on the whole last year was able to withstand the pressures of the business slowdown which seemed to grip the rest of the nation in the second half of the year. The average value of the monthly indexes of Texas industrial production published by the Federal Reserve Bank of Dallas rose from 159 in 1958 to 170 in 1959, a new high. Industrial production continued to rise as the average of monthly values rose in 1960 to a new high of 173. Industrial power consumption, frequently used by economists as an indicator of industrial activity, increased 4% in 1960 over 1959. Total manufacturing employment, which suffered from strikes in 1959, showed an average of 487,200 employed in manufacturing according to the Texas Employment Commission. The average number em­ployed in 1960 was 488,900, a rise of less than one-half of ployed in 1960 was 488,900, an increase of 1,700 em· ployed persons. There were important differences in the performance of the major industrial sectors. The average monthly index of durable manufactures, for example, after falling to 223 in 1958 from 231 in 1957, rose strongly to 242 in 1959 and continued to rise to 249, a 3% gain, for the average value in 1960. The recovery of nondurables continued strong, with the monthly index averaging 190 in 1959 compared with 178 in 1958 and continuing with a 5% increase to 200 as the average figure for 1960. The national industrial economy was not quite as strong as Texas. The current total Federal Reserve Board Index of industrial Production is 3.6% under its January 1960 peak; durable goods output is down 8.1% . The output of nondurable goods, though, actually rose an additional 2.7% before it dropped to its present level which, by the way, is exactly where it was in January 1960. Texas mineral production which had shown an average 6% increase in 1959 from 1958 was 5till weak and the average value of the minerals production index for 1959 stood at 135 and showed a 3% drop to an average of 131 in 1960. The explanation of this category's weakness is, of course, the continuing necessity for relatively low crude oil production allowables. The index of Texas crude oil production showed a 5% decrease, dropping from an average monthly of 115 in 1959 to 109 in 1960. Gains registered in durable and nondurable manufac­turing, however, were not repeated in the employment figures published by the Texas Employment Commission. The average number of employees in the manufacture of durable goods in Texas in 1959 was 234,000 persons. This figure dropped 1 % in 1960 to an average 232,300 persons. Employment showed some improvement in nondurable manufacturing. The average number of persons employed in 1959 was 253,200 and this figure increased 1 % in 1960, showing an average of 256,600 employed. It is prob­ably to be expected that automation and other technological advances in both the durable and nondurable categories will continue to favor production increases without cor­responding employment gains. New manufacturing plants opening in Texas in 1960 as reported by the Texas Employment Commission (includ­ing only those plants employing four or more) totalled 178 initially employing about 3,250 persons. This compares favorably with the 178 new manufacturing plants which opened in Texas in 1959 and initially employed some 2,700 persons. Texas also again ranked first last year in the re­port of Industrial Development and Manufacturers' Recor& of new plant establishments and expansion of existing plant capacity. Texas continued to grow in numbers, and in consider­ing industrial growth population must be given a double look. The people of the state provide not only the basic hu­man resource-labor-to an industrial community, but they also provide a basic marketing element-the con­sumer. Texas population is growing rapidly having in­creased during the past decade more rapidly than the nation as a whole. Final decennial census figures indicate that Texas popu­lation increase during the last ten years was 24.2% con· trasted with a national increase of 17%. The most recent population forecast for Texas anticipates a continuing growth of almost 2 million over the next ten years, from about 9.5 million in 1960 to about 11.4 million in 1970. This increase of more than 20% combined with continu­ued advances in per capita income will generate substantial support for expansion in those segments of the industrial economy geared to state and regional consumer markets. But this continued growth also poses problems. Of Texas, TEXAS BUSINESS REVIEW 254 counties, 144 lost population in the last ten years. In spite of the growth of the industrial centers in the counties of the Gulf Coast, the Texas Blacklands, and those highly irrigated counties of the West Texas High Plains, over half of Texas counties showed decrease in population. These de­clines tend to emphasize again that agricultural employ­ment is declining and many Texas communities if they are to survive must supplement their incomes from other sources. Of these sources manufacturing would appear to offer permanent benefits. Growth in the Texas population in the last decade was in those areas of intense industrial concentration, those areas of mineral development and in those counties of ir­rigated farming. Almost 60% of Texas population increase in the last ten years occurred in four counties--Harris, Texas l1d1Strlal Prod1ctlo1 hrabl1 Ma11fact1r1s production and worker displacement by automation. Texas prosperity once depended largely on agriculture and natural resources production but today the state's economy has become more diversified. The outlook for providing in­creasing employ'ment and prosperity from new consumer products industries is promising. Industries such as food production and apparel manufacturing, which have high labor requirements with relatively low skill demands, may suggest a possible answer. With our ever-expanding mar­kets there is every good reason why Texas should have extensive consumer products manufacturing. This type of industry is vital because it employs more people and is suited for smaller communities as well as for expanding metropolitan areas. One fact stands out sharply. Texas is not alone in its Texas l1d1Strlal Prod1ctlo1 N01d1rabl1 Ma11fact1rts Index • Adjusted for seosonol voriation • 1947-1949;100 300 200 200 I50 I50 I00 IOO 50 50 0 0 $.o•HU I '•tl•rol •n•n• &o11l of Dollo1. Dallas, Bexar, and Tarrant. Growth of the metropolitan centers was due in large part to the diversification of air­craft manufacturing firms and of the tremendous growth of the chemical and electronics industries. While the growth of these industries in the state was outstanding, they do not get the whole credit. According to figures released by the Texas Employment Commission, transportation equipment manufacturing em­ployed 52,700 as 1960 drew to a close. The chemical and allied products industry employed 43,800. Electronics manufacturing is reported in the electrical machinery and equipment category which totaled 20,200 persons in De­cember 1960. This compares with petroleum refining and related in­dustries employment of 41,700 and crude petroleum and natural gas production employment of 114,300 giving the Texas oil industry' a total of some 156,000 persons em­ployed at the end of 1960. Other industries with large labor demands were the food and kindred products group which showed an employment of 79,200 and apparel and other finished textiles products which employed 35,500 persons at the end of 1960. Economists predict that with the continued growth of chemicals and electronics, the future labor demand will be for employees with more highly developed skills. But the problem which Texas faces is the attraction of industry to those areas which are consistently losing population. The increase in manufacturing employment recorded during the last decade is continuing but new jobs must be created at a faster rate if the state is to offset the decline in agriculture, oil production and exploration and lumbering, cutbacks at military bases, decreases in manned aircraft desire to attract new industry to the state. The competition among states is extremely keen. The real prerequisite for industrial development in the state is public awareness. Texas in recent years has wit­nessed a growth in public concern for the state's industrial future. The relatively new Texas Corporation Act, which became fully operative in September 1960, puts the state in favorable comparison with any other state as far as providing a modern legal climate for the formation of corporations and the conduct of corporate activities. The reactivation of the Texas Industrial Commission two y'ears ago provides a clearing house of information on communi­ties in Texas which should provide a continuing impetus to the attraction of industry to the state. Even more signifi­cant perhaps is the recognition on the part of local com· munities that they must do something to solve their own problems. The growth in the number of industrial founda­tions in the state attests to this recognition. Industrial foundations are a postwar phenomenon in Texas. An estimated 90 industrial foundations are presently chartered in the state. Most of the Texas industrial founda­tions, contrary to the majority of the industrial founda­tions active in the United States, were formed to attract new industry into the community rather than help estab­lished industry, according to a report published in 1960 by the Texas Engineering Experiment Station. Perhaps the most significant finding of this study was the increased interest in industrial foundations organized with a profit motive. The study reported six foundations with such a purpose of which three were founded within the last two years. The Texas Engineering Experiment Station report con-eludes: "Industrial foundations have been evolving to meet new objectives and needs. From providing capital funds, plant sites and buildings, the trend in industrial founda­tions has moved toward new activities such as promotion of industrial prospects and sponsoring industrial fact books and studies. "A principle which is evident throughout this evolution is the decision that success in industrial development comes from a full-time, continuing program. Industrial founda­tions cannot offset a serious lack of industrial potential, but they may compensate for deficiencies in land, build­ings, and capital and perhaps more important they have been effective as a catalytic agent to create community· wide desire to develop industry." INDUSTRY REVIEW The oil industry in Texas is discussed at some length in the article, "Review of Texas Business Situation-1960" which begins on page 3 of this issue. In summary it may be said that production of crude oil in Texas in 1960 was at its lowest yearly output in a decade. This, of course, was due to continued efforts of the Railroad Commission to reduce the huge national supply in stocks of petroleum in storage. The Commission ordered seven straight months of record low eight-day allowables from May through No­ vember last year. Repercussions of this stringency were felt throughout the oil industry and the Texas economy. As production slipped, oil exploration declined, petroleum industry equip­ ment makers reduced their operations, oil related employ­ ment fell, and tax revenues from oil sources dropped. The aeronautics industry is fundamentally a supplier of defense needs, and in the past has been almost wholly dependent upon the changing patterns of government policy and changing needs of technological advances. At­tempts to diversify into production of commercial aircraft have proven extremely costly to the industry. There were some bright spots in the Texas aircraft manufacturing picture, however. According to the Dallas Times Herald, a total labor force reported by the various North Texas aircraft manufacturers showed that the industry had 38,500 persons employed as 1960 drew to a close. This was some 550 more than the total for 1959 in this area, and this increase reversed a three-year downtrend. Temco Aircraft merged with Ling-Altec Electronics to form Ling-Temco Electronics last year and moved into divers:fication producing such products as coin-laundry controls, aluminum shelters for sclrool children, and soft drink vending machines. Chance-Vought, heavily involved in defense production, dropped the word "aircraft" from its name and announced diversification into the production of electronics, industrial automation, mobile homes and travel trailers. ' Employment by aircraft manufacturing firms in Texas was 39,700 at the end of 1960 according to the Dallas Times Herald. This is 650 more than in 1959 and the in­crease was in large measure due to the increase in the Dallas-Ft. Worth area. Texas electronics industry last year kept pace with the rapidly expanding U.S. growth in electronics. This rela­tively young industry is making contributions which are rapidly becoming fundamental to our modern way of life. Electronics denotes that special field of physics concerned with the effects of electrons in vacuum tubes, photoelectric cells, transistors, and similar devices. The new industry has a large market in industrial production, making computing machines, industrial controls, and instruments used on na­ tional defense systems as in missiles, radar and sonar. The industry also produces the more familiar consumer prod­ ucts as radio sets, television receivers, and phonographs. Texas Instruments, Inc. of Dallas and Houston, popu· larly known as T.I., is one of the largest electronics firms in the country. T.I. outgrew its industrial instrumentation division plant in Houston and leased five buildings to house the expansion. Collins Radio Company, Texas Division, is now build­ ing a $1.8 million plant in Richardson. The new plant will be used for manufacturing and assembly of electronics navigational equipment. Ling-Temco Electronics expanded into new quarters in Dallas with enlarged engineering laboratory and manu­ facturing space. The firm recently announced purchase of Friedrich Enterprises, a large air-conditioning and re· frigeration manufacturer in San Antonio. The food processing industry in Texas continued last year as Texas largest employer. There were 79,200 persons employed in food and kindred products manufacturing in December 1960 according to the Texas Employment Com­ mission. Notable among the announcements of new plants and expansions of food processing in the state was the proposal of Carling Brewery to build a $20 million plant in Fort Worth. Initial employment is estimated at some 300 per­sons. This huge plant will undoubtedly attract additional service industry to the area. Falstaff Brewing Company al­most simultaneously announced that their plant capacity in Galveston would be doubled to 1,250,000 barrels annually. Continental Can Company selected Galveston as the site of their new plant to manufacture metal beer containers. Meat packing firms announced some important expan­sions this past year. Neuhoff Brothers of Dallas began a five-story addition and remodeling of the present plant, and in San Antonio, Roegelein opened a new main office and Harrell Packing added a new boneless beef processing building. Other announcements affecting Texas food processing indus~ry included the entry of United Fruit Company, a long-time grower and shipper of bananas, into the frozen shrimp business in San Carlos (Hidalgo County), Texas. Corn Products Co. began a new process for making sugar from milo grain in their plant in Corpus Christi. New plants were being built by Holsum Baking Co. at Port Arthur, American Beauty Macaroni Co. of Texas at Dallas and by the Frito Company at Grand Prairie. Expansions were announced by many widely diversified fo.od processors. To name a few: Pillsbury Mills at Denison, Rich Plan at Dallas and Metzger Dairy at San Antonio. Texas food processing industry continues to make im­portant contributions to the state's economy with continu­ally increasing employment and payrolls and operating in almost all sections of the state. The chemical industry in Texas last year continued its great. expansi~n partic~larly in the production of petro­chemicals, which remamed the state's most dynamic seg­ment of industry. This continuing growth was exemplified when early this year Monsanto Chemical Company an· nounced its Chocolate Bayou project. Monsanto will build a huge petrochemical plant on 550 acres of a 3,000 acre site in Brazoria County, 25 miles west of Texas City. The TEXAS BUSINESS REVIEW new complex will include the world's largest ethylene plant with a capacity of more than 500 million pounds annually. The plant will also produce 42 million gallons of benzene, and 50 million pounds of naphthalene a year. Other hydro­carbon raw materials will be produced. The plant is sched­uled for operation in 1962. It will provide 400 jobs repre­senting a total $3 million annual payroll. Although the company did not announce the total cost of the plant, Houston petrochemical circles estimate the cost at between $80 million and $100 million. When the announcement was made that plant capacity would exceed 500 million pounds of ethylene a year, the Houston Chro­nicle reported that Houston's petrochemical experts "gasped." Construction of new plants and expansion of existing ones were announced for the chemical industry all along the Gulf Coast and also in the growing Permian Basin of West Texas. The chemical industry in Texas is characterized by its size. It is big. New plants demand high capital investment and can operate only on the mass production principle. Its products are highly diversified and are produced in con­ tinuous process twenty-four hours a day in highly auto­ mated plants. Witness the Monsanto plant which will cover 550 acres and employs 400 persons. Texas produces inorganic as well as organic chemicals and the chemical industry in the state has special labor requirements, low in numbers and high in skill. Perhaps the foremost characteristic of the industry is its high pre­ occupation with research, since the industry depends upon the production of new products with a relatively high initial profit margin. The chemical industry serves virtu­ ally all other industries. Its products are intimately related to all phases of agriculture, producing pesticides and ferti­ lizers and following through into final food processing with preservatives. The chemical industry is highly com­ petitive, particularly from the viewpoint of competition for source materials; at any time research may find new sources for existing products. The big reason for the tre­ mendous growth of the organic chemical industry of Texas is the enormous supply of natural gas. The chemical industry also has its problems. There is a keen competition in process techniques in the chemical industry. Costs are rising and profits are being squeezed. There is a constant effort toward finding new markets and new products. Foreign competition remains strong because of the high efficiency of foreign plants plus their low labor costs. The outlook for the chemical industry is still good. It is expected that investments in research will continue to in­ crease and also that research will broaden into areas of automation, data handling and so on. The emphasis is still on new products to be introduced with a better than aver­ age margin of profit until competition comes into play to bring prices down. Another outlook is for the slowing down of the entry into the chemical industry by other industries and an increase of diversification of chemical companies into other product lines. There is some consideration for movement of plants abroad. This is merely a quick summary of the Texas chemical industry, an important complex contributor to the state's economy. Because of its size and complexity it is dealt with in summary here. A comprehensive treatment of the subject will be presented in the next issue of the Review. ESTIMATES OF NONAGRICULTURAL EMPLOYMENT Source: Texas Employment Commission in cooperation with the Bureau of Labor Statistics, U. S. Department of Labor Percent change Industry Dec Nov Dec 1960• 1960t 1959 (thousands) Dec 1960 Dec 1960 from from Nov 1960 Dec 1959 TOTAL NONAGRICUL­TURAL ___ 2533.5 2515.5 2534.5 + •• MANUFACTURING ___ 483.2 486.2 488.3 - 1 Durable goods . ­---­-----­---­---­------­Ordnance ----­-----------­--------------­ 227.5 1.9 228.7 1.8 233.6 1.7 + 1 6 -3 + 12 Lumber and wood products 19.6 20.0 20.8 2 6 Furniture and fixtures 10.6 10.9 11 .3 6 Stone, clay, and glass products ---------­---­-------­-·--PrimarY metals ··­·--·-----­-­---­ 22.3 23.2 22.6 23.3 23.1 24.7 •• 3 6 Fabricated metal products 29.6 80.0 29.1 + 2 Machinery (except electrical) -------······--·­-··­ 37.9 37.6 40.1 + 5 Electrical equipment and machiner y 20.2 20.3 17.0 •• + 19 Transportation equipment 52.7 52.4 55.9 + 1 - 6 Other durable goods Nondurable goods ..... ____ 9.5 255.7 9.8 257.5 9.9 254.7 3 1 - 4.. FOOd ___ ___ ­---­------· 79.2 80 .9 79.6 2 Textile mill products Apparel _ Paper and allied products.. Printing and publishing .... 6.8 35.5 9.8 29.6 6.9 35.5 9.8 29.5 6.9 35.1 10.0 28.7 •••• •• + 2 + 8 Chemical and allied products --­--·--·----­-·-········­-­Petroleum products ·---------­ 43.8 41.7 43.8 41.8 42.8 42.0 •••• + 2 Leather and leather products ------------­Other n ondurable goods 3.5 5.8 3.6 5.7 3.5 6.1 + 2 - •• 6 NONMANU­FACTURING .............. Mining -------­----­-·­····--·---·­Petroleum and natural gas 2050.3 121.3 114.3 2029.3 121.3 114.5 2046.2 127.6 120.1 + .. •• •• 5 5 Metal, coal. and other m ining ____ 7.0 6.8 7.5 + 7 Contract construction --··-­ 155.7 165.9 161.6 4 Transportation and utilities _____ __ ___ ___ -------­------­--­Interstate railroad .............. 226.1 40.3 224.1 40.4 230.6 42.4 + 1 •• 2 5 Other transportation _ Telephone and telegraph____ 105.2 38.9 103.0 39.0 107.3 39.0 + 2•• 2 •• Public utilities 41.7 41.7 41.9 •• •• Government . ............................ 443.8 439.5 432.1 + + 3 Trade ---­ 673.0 648.2 677.1 + 4 - 1 Wholesale trade ---·­·----­--------­Retail trade -------·-······­·-­ 169.3 503.7 170.8 477.4 172.7 504.4 1 + 6 - 2•• Building materials-hardware ___ __ 40.1 40.1 37.9 •• + 6 General merchandise ...... 106.8 87.1 114.6 + 23 7 Food and liquor stores .... 80.8 80.0 77.3 + 1 + 5 Automotive stores .......... 78.3 78.8 79.3 - 1 Apparel stores ·-----··­------­ 33.3 29.5 37.3 + 13 -11 Other retail trade ----­---­-164.4 161.9 158.0 + 2 + 4 Finance. insurance, and real estate .... 120.0 119.7 115.9 .. + 4 Bank and trust companies Insurance . 31.3 50.4 31.2 50.3 30.4 49.2 .. + 3 + 2 Real estate and finance . 38.3 38.2 36.3 + 6 Service and miscellaneous 310.4 310.6 301.3 .. + 8 Hotels and lodging places 28.1 28.6 28.3 2 Laundries and cleaners ...... 35.9 36.3 85.7 + Other service and miscellaneous .................... 246.4 245.7 237.3 •• + 4 • Preliminary. •• Change Is less than one-half of one percent. t Revised. STATE AGRICULTURE AT NEAR RECORD LEVEL By FREDOLIN KADERLI In 1960 estimated £arm cash income for Texas farmers and ranchers amounted to $2,209,219,000, down 3.2% from 1959. Income from livestock was up 2.7%, but this was not enough to offset the 7.6% dcerease in income from all crops. 1960 income from all crops amounted to $1.2 billion, while income from livestock totaled $1.0 billion. The increase in farm cash income for livestock is prin­cipally the result of 24% heavier marketings of cattle in 1960 over 1959. Average prices for cattle were down about 16%, but the heavier marketings more than offset the price decrease, and the net result was that Texas cattle producers received $534,634,000 for their stock, a 4.6% increase over the previous year. The decrease in farm cash income for crops may be par­tially attributed to the decreased income for cotton and cottonseed. In 1959 cotton and cottonseed accounted for approximately 57% of £arm cash income for crops but in 1960 this figure had dropped to about 52%. For cotton, farmers received 15.9% less for their smaller crop with lower prices in 1960 than they did in 1959. Farm cash income for cottonseed was 15.3% less in 1960 than in 1959. Not all of the decrease in income for cotton and cotton­seed can be attributed to lower prices, however. Part of the 1958 crop was not harvested until 1959. Almost all of the 1959 crop was harvested in that calendar year, but the 1960 crop was not all harvested during the calendar year. As a result there was a change in the marketing pattern which made the year 1960 not quite comparable to some of the other years. Actually, the smaller crop, lower prices, and the shifting marketing pattern were all contributing factors to decreased £arm cash income for the cotton crop. Income from sorghum grain dropped 6% from the pre­vious year. Marketings in 1960 were similar to those of 1959-a record breaking year for sorghum grain prod­ducers. The big factor accounting for the decreased income was, of course, lower prices. The average prices received were approximately 6% less than what they were in 1959 with the result that farm income for sorghum grain was down to $194,968,000 in 1960 as contrasted with the 1959 income figure of $207,479,000. Farm cash income to Texas wheat growers was 27.6% greater in 1960 than in 1959. Prices received in both years were fairly constant, but volume of marketings was much higher in 1960. The income from wheat in that year was $135,475,000, up considerably from the 1959 income of $106,205,000. Farm cash income to Texas wool growers for their wool was 14.1 % greater in 1960 than in 1959. Average prices recei~ed were 6.7 % greater in 1960 than the previous year, and increased marketings were 6.9% above year earlier levels. As a result, £arm cash income for woll jumped to $21,167,000 for 1960 from the 1959 figure of $18,548,000. Income for mohair was 12.7% less in 1960 than in 1959. In 1960 there was an average decrease of 5% in prices and an 8% drop in marketings. Lower prices in the latter half of the year were a strong influence in holding income below the previous year's level. Meanwhile, the Texas Crop Production Index for 1960 as c~mpiled by the Texas C~op and Livestock Reportin~ Service, stands at 138, two pomts greater than the previous year and equal to the 1958 level, the second greatest crop year in Texas history. The peak year for Texas agriculture was 1949 when this index (1946-55=100), which in­cludes 13 important crops, stood at its all·time high of 145. The larger wheat, sorghum, peanut, and hay crops offset lower production of cotton and corn and were largely re­sponsible for 1960 being a high level year in Texas agri­culture. The combined value of the principal crops in Texas for 1960 totaled about $1.4 billion dollars. This is 3% lower than 1959. The decrease in value from the previous year may be attributed to the lower prices received from cotton and sorghum grain. Three crops, cotton, sorghum grain, and wheat accounted for more than three-quarters of the total value of all principal crops produced in Texas in 1960. TEXAS FARM CASH INCOME 1960• 1959•• Commodity (thousands of dollars) Percent change All commoditiea ············--­----···$2,209,219 $2,281,531 8.2 All crops --·-·--···--·----·-----···------­1,199,0U All livestock ·---··--·----·--·--·-·-----­l,010,195 1,297,639 983,892 -7.6 + 2.7 Cropa Cotton ·----·----·--·--·-·-··---------­·--­ 564,636 671,307 -15.9 Grain sorghum ··------------·-···-­Wheat -----··-·-·-··-·-­·--·-·------··----­ 194,968 135,475 207,4711 106,205 -6.0 + 27.6 Fruits and vegetables ----···--­ 88,844 82,970 + 7.1 Rice ----·--·--·--·----·-·--··--·-·····-----·­ 56,341 58,113 - 3.0 Cottonseed ----------··---·-­··-­-·----·­ 56,288 66,479 -15.3 Peanuts -----··----··-···----···-----·---·­ 20,989 19,102 + 9.9 Corn -·-·--·---·--·-----·---·---··-----·-­-­ 17,197 22,276 -22.8 Hay ---·-·--·--·-·-----­·---·--·-----·-··--­Oats ··--·····­·--·-··--···-­····-·----·---·--­ 15,955 7,110 14,049 6,680 + 13.6 + 6.4 Flaxseed -··-·····-·--·-·-----·--··--·--··­ 2,488 1,006 +142.3 All other crops --···-----·-·--·-·--­ 38,783 41,973 7.6 Livestock Cattle -··-----···-········-······-···········­ 534,634 511,025 + 4.6 Dairy products -·-··­---····-·-····-· 128,645 129,330 0.5 Calves ···--·······-····--·-··-··------··--­ 98,285 97,845 + 0.5 Poultry -------·---·--·-··--·------··-·--­ 74,430 75,043 0.8 Eggs -­------­-·-·--·-----­--­-----·---­ 60,369 54,230 + 11.8 Hogs·----­--·--·-·--·--­·---·----·----··--···­ 42,338 47,764 -11.4 Sheep and lambs ------·---------­ 23,418 20,686 + 12.2 Wool -·-·----·--·-­--·--·­-·--------·----·­ 21,167 18,548 + lU Mohair -·-----------·-----­-·----·----·----­ 18,782 21,505 -12.7 All other livestock --·--·---·­ 8,127 7,916 + 2.7 •Preliminary. Prepared in cooperation with the U.S. Department of Agriculture. •• U.S. Department of Agriculture. AU totals e:z;chu!e government payments. EDITOR'S NOTE: Farm cash income is simply the money grossed in farming operations and is computed by' multiplying average prices received by £armers for their ~arious _commodities times actual marketings. Farm cash mcome 1s computed on a calendar-year basis. When speaking of value of crops or livestock produced (as contrasted with farm cash income) it should be kept in mi_nd ~at val~e in this instance refers to production times prices, mcludmg farm consumption. Value of crops is usu­ally computed on a crop year basis rather than a calendar year basis. The value of cottonseed and lint production for 1960 was $711 ~illion or 50% of the total value of all principal crops m Texas. Sorghum grain production was valued at $236,028,000 and accounted for 17% of the total value. Wheat production, which accounted for 11 % of the total value, was worth $148,129,000 to Texas farmers. Tex~s, which grows more cotton than any other state in the nat10n, produced 4,350,000 bales of cotton in 1960, 1 % below last year but 7% above the 1949-58 average. Farm- TEXAS BUSINESS REVIEW ers harvested this crop from 6,350,000 acres--about the same as last year. The yield averaged 329 pounds per acre, down five pounds from 1959, but 77 pounds above the 1949-58 average. Cotton planting in the eastern half of the state for 1960 had been delayed by cold wet spring weather. During the growing season in this same area, weather conditions ranged from drouth to floods, causing losses in acreage and production. In the Blacklands area, root rot was the worst in years and caused severe crop damage. But September and early October saw the development of ideal harvest weather for gathering the crop--a blessing indeed, after the trials of the growing season. On the Plains, soils were dry until early June when downpours provided ample moisture. High Plains cotton, however, was late in maturing. Above average moisture throughout the season in many low plains counties resulted in record yields for growers. Excellent harvest weather in October and November was a contributing factor in help­ing producers bring in record yields. According to the Texas Crop and Livestock Reporting Service, an unparalleled season for irrigated and non­irrigated sorghums on the Plains, coupled with extensive use of hybrids and fertilizer, pushed Texas' sorghum grain yield to a new record of 40 bushels per acre. The total production of 278 million bushels of sorghum grain equaled last year's record crop. The unusual aspect of this record production is that the crop was combined from 6.9 million acres, 5% below the 7.3 million acres harvested in 1959. In South Texas and the Coastal Bend Region, the cold damp weather earlier in 1960 had delayed the planting of sorghum grain seed. A majority of the High Plains sor­ ghum planting was deferred until after cotton planting. Sorghum grain yields in the southern third of Texas were reduced by a dry spring. Plains sorghum flourished because of ideal summer and fall rains, and excellent yields were obtained from dryland as well as irrigated acreage. However, sorghum harvesters in the Blacklands area were plagued by excess moisture with some reductions in yield being noted in that area. Texas wheat growers recorded the third largest crop on record when production amounted to 84,645,000 bushels for 1960. This is 41 % larger than the 1959 crop and was exceeded in only two other years--1947 and 1949. A record was established by wheat growers when they har­ vested an average of 22.5 bushels per acre, besting the old record of 22.0 bushels established in 1958. Harvested acre­ age amounted to 3,762,000 acres, 10% above the harvested acreage for 1959. Heavy late summer and fall moisture got the big wheat crop off to a fast start. Early spring precipitation had been very light. The rains in May and early June in the Plains, coupled with cool weather, all came in time to help produce the large crop. In general, the year 1960 was also a very good one for Texas vegetable farmers as they received $65,800,000 for their crops. The production of vegetables for fresh market this past year was 20% above 1959 and vegetables pro­ duced for processing were 7% above a year earlier. The value of commercial vegetables according to the USDA was 10% above 1959. Yields were higher in 1960 for all winter crops than they were the past season. On the national level, 1960 was a record-breaking year for crop production. Total production was 3% above the previous high established in 1958. Harvested acrea~e in the United States was approximately the same in 1960 as in 1958 but was nearly 1 % below 1959. According to the Agricultural Marketing Service, the all-crop production index of 122 (1947-49 = 100) was 4% above the revised 1959 index and 3% above the pre· vious high of l18 established in 1958. The feed grain group pushed to a new high, 3% above the 1959 record. Food grains increased 19%, tobacco 9%, oil crops 8%, and vegetables 3% above 1959 while fruits were down 6%, sugar crops 2%, and cotton 1 %. Corn and sorghum grain were the only field crops to set new production records in 1960. INDEXES OF PRICES RECEIVED BY FARMERS Source: Bureau of Agricultural Economics, U .S. Department of Agriculture Percent change Dec Nov Dec Dec 1960 Dec 1960 1960 1960 1959 from from Index ( 1910-14 -100) Nov 1960 Dec 1959 ALL FARM PRODUCTS ........ 248 247 242 •• + 2 ALL CROPS 212 220 213 •• -···------······--·-··· ·········-··············---------­ Food grains 210 213 213 -'1 -1 Feed grain & hay ·················-----114 112 117 + 2 -8 Potatoes & sweet potatoes........ 232 225 143 + 8 + 62 Fruit ···········-···············------------------203 259 191 -22 + 6 Truck crops 283 245 252 -6 8 ---------····-----------------­------·------------·····---------··--------· Cotton 229 242 232 -6 1 Oil-bearing crops ························ 225 225 209 •• + 8 LIVESTOCK AND PRODUCTS ··· ··------·--------308 291 228 + 6 + 7 Meat animals ·························-----370 343 344 + 8 + 8 Dairy products ·······----·····-·····-·-··· 291 287 286 + 1 + 2 Poultry and eggs ···········-------------229 223 197 + 3 + 16 Wool -------------------------···················· 264 250 298 + 6 -11 •• Change is leas than one-half of one percent. The overall agricultural picture for 1960 has not been bad. In several areas of Texas, record yields per acre were obtained. For 1961, the general stability of farm prices, farm cost rates, and farm incomes which were experienced in 1959 and 1960 may be expected to continue. Since ex­ports of major farm products, aided by substantial govern­ment export programs, are expected to continue large in 1960--61 and may well equal or exceed the record volume of 1959-60, Texas agricultural producers can ex­pect to benefit from these developments. The price outlook for 1961 does not point to much change over-all from current levels, though larger market· ings of most livestock products may contribute to some easings in prices later in 1961. The relatively high prices for hogs reflect smaller marketings from the sharply re­duced 1960 spring crop. Although breeding intentions point to an upturn in hog production in 1961, prices may continue above year-earlier levels at least through the first half of the year if USDA estimates are correct. There is little change in prospect for sheep production in 1961, barring any unusual weather situation or resump­tion of drouth conditions. If slaughter does not change much, sheep prices next year will probably be close to or only a little below this year. For wool, the situation for 1961 will probably be about the same as last year. Accord­ing to the Agricultural Marketing Service, average prices received by growers, mill use of wool, and imports of raw wool are expected to be the same. Imports of wool products, however, are continuing to increase. taken on an erratic nature in 1960 due to the large per­ TEXAS BUILDING SHOWS centage of dollar authorizations represented in the non­MIXED MOVEMENT residential classifications. In the past, the largest portion of total construction was residential building with small By CHARLES O. BETTINGER per unit valuations. As nonresidential building took the Texas construction in 1960 ends the year 6% under 1959, showing contrasting movement as an all-time record for nonresidential construction offsets a most disappointing period in homebuilding. The index of residential con­struction in December 1960 fell to a three-year low of 178% of the 1947-49 average as the nonresidential index set a December high at 313. Final figures for the year show an annual drop in total dollar construction in homebuild­ing of 22% from last year while nonresidential figures jumped 20'/o in this same period. Also, on the positive side of the picture in 1960 were additions, alterations, and re­pairs with a 13% gain. CONSTRUCTION IN TEXAS BY QUARTERS, 1959. 1960 111 ...illio11•ofdollor1 lnMillio111 ol dollo r1 .00 •OO 19S9 1960 . Ill.Sil 1960 19.S919()0 19.S9 '9b0 I II Ill IV .r ';.1£:' AddltioM, Alr.,orion•, ond hpoin . No11-Ro old111liol Cor•lrt.Clion h 1ld1 111iol Co11 01tu(lio 11 Quarterly data on construction show typical seasonal patterns in 1960 with a moderate first quarter building up progressively to the third quarter when total construction was pushed past the 1959 levels due to a surge in nonresi­dential building activity. The last three months fell again to the levels established in the first half of the year in which total construction was held about 5% below the 1959 totals by reduced home construction. Construction in Texas has spotlight, multi-million dollar authorizations bounced total construction up and down. Three nonresidential categories approached the $100 million mark as the aggregate passed one-half billion dol­lars for a historical first. School construction was the leader in 1960 with a total of $98,949,000 (a 32% gain from 1959) followed closely by office-bank buildings classi­fication ($96,499,000 +56%) and the stores and mercan· tile classification ( $95,814,000 + 1 % ) . Residential construction was more affected by the weather in December than by any general economic reces­sion as cold, wet rains blanketed the state for most of the month keeping activity at a minimum. January of the new year will be unable to deliver the expected boost in home permits authorized as poor construction weather prevailed. Fair weather will be the real test of the homebuilding in­dustry's come-back in 1961. Current monetary policies which have been in force for several months have taken a firm grip pushing the free reserves of Federal Reserve member banks continually' up­ward. December data show free reserves in excess of an estimated $600 million. These additional reserves illustrate the availability of funds in the loan market which directly affect the ease and cost of home financing. The super­saturated home loan market should demand another mort­gage rate cut soon. The readjustment of supply and demand has had over one year to reach its equilibrium. Favorable factors in­clude excessive home-financing funds, fading FHA dis­counts, and plans to extend the payment period of govern­ment sponsored plans to 40 years. Unfavorable influences in 1961 are changing market patterns to less expensive, compact housing; rising construction costs; and high va­cancy rates in rental units and owned housing units. The extent of a pickup in new home construction in 1961 depends entirely upon the ability of builders to construct a housing unit that is more than shelter, but at a lower per BUILDING AUTHORIZED IN TEXAS 20 SELECTED CITIES . , __ , . __.. . . Residential Dwe11lng units ( number) Nonresidential Total construction Jan-Dec 1960 Jan-Dec 1969 Percent Jan-Dec Jan-Dec change 1960 1969 Percent change Jan-Dec 1960 Jan-Dec 1969 P ercent change Jan-Dec 1960 Jan-Dec 1969 Percent chan11e Abilene ··· ··· $10,327,346 $ 19,018,267 -46 759 1728 -64 $ 8,645,816 $ 9,634,722 -11 $ 19,528,824 $ 29,389,137 -34 Amarillo 19,682,270 21 ,834,346 -10 1664 1762 - 6 9,065,234 15.097,062 -40 31,916,487 39,679,704 -19 Austin 23,787.000 30,371,075 -22 1626 2150 -24 17,207,982 19,896,212 -14 46,361,553 55,990,800 -17 Corpus Christi . 6.416.414 8,638,663 -26 577 864 - 33 6,014,036 10,866.542 -54 13,779,111 21.387,776 -36 Dallas 69,214.340 85,708,382 -19 6967 8760 -21 44,795,083 51,273,993 -13 132,Q39,492 158.806,506 -17 El Paso .. 27,570,673 41,743.108 -34 2644 4100 -36 19.404,129 14,974,098 + 30 57,400,726 65 ,002,529 -12 Fort Worth . 20,081,028 27 ,409,261 -27 2131 3037 -30 19,108,356 24,901,347 -23 46,230,939 58,386,105 -21 Garland 11,030,359 10,554,514 + 5 1036 1088 - 5 3,745,450 2,192.212 + 71 15,174,318 13. 111,928 + 16 Houston 87,474,476 124,251,098 -30 6994 11006 -36 173,418,719 72,616,898 +139 286.732,975 226.578,122 + 27 Irving . .. 11,245,64 1 10,168,098 + 11 1171 983 + 19 3,102,293 7.529,361 -59 14,800,318 18,128,181 -18 Longview 4,726,000 6,298,700 -25 317 392 - 19 2,057,694 1,196,267 + 72 7.650,234 8,349,902 -10 Lubbock . 22,730,673 32,734.787 -31 1486 2442 -39 11 .908,643 18.414,107 -35 36.868,487 53,600,572 -31 Midland 11 ,704,270 23,979,745 -51 884 1888 -63 6,692.300 10,169.335 -34 19,741,870 36,502,466 -46 Odessa . ..... 8,012,875 17,196,160 -53 647 1573 -59 6,062,136 10,751,549 -44 14.689,266 28,831,504 -49 Port Art hur . 2,153,331 1,939,864 + 11 277 213 + 30 3,286,795 2,985 ,288 + 10 6,493,611 6,087,539 + 7 San Antonio 24,953,538 35,774,792 -30 3162 4601 -30 25,445,499 15,975,681 + 59 67,957,678 60,306,937 - 4 Tyler . 6,496,023 6,493,385 -15 401 536 - 25 1,063,327 2,534,834 -58 7,096,291 9,885,203 -28 Waco . 6,167,632 7,020,145 -26 425 539 - 21 9,721,704 8,479,273 + 15 16,543,185 17,012,541 - 3 Wichita Falls 15,083,764 7,244,431 +108 1736 652 +166 10,898,288 4,517,942 +141 28,292,908 13,635,091 +108 TEXAS BUSINESS REVIEW unit cost. Outlook for 1961 could be considered very favor­able with high levels of nonresidential construction to continue somewhat under the 1960 record level and new home construction rising 8% to 10% above 1960. Home­building activity should begin early in 1961 getting pro­gressively better until the end of the year. With the boom growth in 1959, an economic readjust­ment could have been expected. Tight money and high interest rates made the situation more intense than was foreseen. Costs will appear in 1961 as a major problem to the growth as lumber prices recover from a softness experi­enced throughout 1960 due to lagging demand. Other materials are expected to accompany labor pay raises in pushing total costs in the U. S. up over 3% in the next twelve months according to the Engineering News Record. This much of an increase could act as a depressant to new construction. FEDERAL RESEl\VE MEMBER SANK FREE RESERVES, UNITED STATES Monlhly averages ol da;ty fig..., l11"'illlo111of clollo" 111 Mill;o"' ol dollori +•oo HOO H OO .... / + 200 / +JOO / ~ / -200 "' / ... ~ 1959 1960 Homebuilders will be faced with the problem of finding a market for the first time since World War II. Among the necessary items of expense should be an adequate amount of basic market research to determine market potential and home design necessary to capture that portion of the market. In the current buyer's market it is going to require educated salesmanship. In the metropolitan areas, residential building did man­age gains in two cities, San Angelo and Wichita Falls. Wichita Falls' homebuilding rate more than doubled in 1960 from 1959 as per unit costs dropped in both areas. The remaining thirteen standard metropolitan areas as de­scribed in the 1950 Census had decreases ranging from -6% to -46%. Looking at nonresidential prospects in 1961, areas of promising growth appear to be continued high levels of school construction with the possible assistance of federal aid, and hospital construction which may also fall under federal subsidies in the new administration. On the nega­tive side, schedule of new office-bank buildings continue into 1961, but this classification should be slower until new available office space created in the past year is consumed. Currently, high vacancy rates in the older buildings should take a toll on some future plans. ESTIMATED VALUE OF BUILDING AUTHORIZED Source: Bureau of Business Research in cooperation with the Bureau of the Census. U. S. Department of Commerce Jan-Dec Percent change Dec 1960 1960 1959 Jan-Dec 1960 from Classification (thousands of dollars) Jan-Dec 1959 ALL PERMITS ........ . ..$85,966 $1,186,650 $1,256,666 -6 New construction .................... 76,751 1,061,830 1,127,539 -6 Residential (housekeeping) 31 ,116 659,981 709,909 -21 One-family dwellings ...... 27,376 617,333 660,331 -22 Multiple-family dwellings .......................... 3,741 42,648 49,578 -14 Nonresidential buildings .... 46,635 601,849 417 ,630 + 20 N onhousekeeping buildings (residential) 3,410 26,195 17,538 + 49 Amusement buildings ..... . 37 7,876 13,169 -40 Churches .............................. 1,236 39,415 34,363 + 15 Industrial buildings .......... 4,176 36,371 30,483 + 19 Garages (commercial and private) 198 9,923 6,220 + 60 Service stations ................ 640 9,349 9,109 + 3 Institutional buildings .... 779 37,874 24,254 + 66 Office-bank buildings ...... 8,619 96,499 83,833 + 15 Works and utilities .......... 6,339 22,214 12,496 + 78 Educational buildings ...... 11,836 98,949 74,995 + 32 Stores and mercantile buildings ..... .................... 7,601 95,814 94,635 + 1 Other buildings and structures ·········-·············· 766 21,371 16,556 + 29 Additions , alterations, and repairs ..................... ............ 9,204 124, 720 129,027 -3 METROPOLITAN vs. NON­ METROPOLITANt Tote.I metropolitan --·--·-----------­68,903 932,686 936,846 .. Central cities .......................... Outside central cities .......... 69,440 802,033 9,463 130,662 806,445 130,401 -1.. Total nonmetropolitan ............ 17,062 253,865 319,719 -21 10,000 to 60,000 population .... ------·· 11,500 167,755 223,222 -25 Less than 10,000 population -------·-···­-­--------·· 6,552 86,110 96,497 -11 t As defined in 1950 eensus. •• Change is less than one-half of one percent. A new publication RICE Domestic Consumption in the United States by Parley M. Pratt, Associate Professor of Business Management, Brigham Young University Clothbound with 217 pages and I 18 tables. $4.00 Available from the Bureau of Business Research The University of Texas, Austin 12, Texas TEXAS RETAIL SALES FOR 1960 FALL SHORT OF 1959 By IDA M. LAMBETH Texas retail sales in December rose 25% from Novem­ber. Sales trailed last December by 4%, and the year's sales fell 2% short of 1959. December sales in Texas were estimated at $1,548 million. Annual sales were estimated at $14,664.9 million. Nationally, sales of 1960 bettered 1959 by 2% to set a new record of $220 billion compared with $215 billion in 1959. National sales lagged behind 1959 until the last minute Christmas rush. Bad weather across most of the nation postponed shopping earlier in December but contributed to greater sales for mail-order houses. The outlook for retailers for 1961 is at present, less than RETAIL IALltS TB.ENDS BT &INDS OF BVSll'fESS Source: Bureau of Bueine1 Research in cooperation with the Bureau of the Cen1u1, U.S. Department of Commerce Percent change Normal seasonal* Actual Number of reporting establish· Dec from Dec 1960 f rom Dec 1960 from Jan-Dec 1960 from Kind of business ments Nov Nov 1960 Dec 1959 Jan-Dec 1959 DURABLE GOODS Automotive atorest.. 225 + 9 •• + 7 6 Furniture and household appl!­ ance storest .......... 139 + 29 + 28 -14 - 6 Lumber, building material, and hardware stores .... 265 •• -10 -19 - 18 NONDURABLE GOODS Apparel stores ........ 195 Drug atores .............. 180 + 67 + 45 + 74 + 38 6 2 + •1 Eating and drinking places . 82 + 5 + 1 8 2 Food stores --·······­··-­ 350 + 9 + 7 8 + 1 Gasoline and service stations .... General merchandise 618 + 8 + + 4 + 2 etoreet ····------· 191 + 59 + 78 6 4 Other retail storest .. 197 + 58 + 64 7 2 • A•erace ....,ooal chBD&'• from preceding montla to current month. •• Change ie Iese than one-half of one percent. t Includ• kinda of buaineu other than claaelflcatlon iiated. enthusiastic. Prices will be under pressure. Discount houses are growing in number, putting more pressure on regular stores. The consumer is much more selective, both of mer­chandise and merchant. December sales of durable goods in Texas including automotive stores, furniture stores, and lumber, building material and hardware stores, rose 4% from November. Sales were reported equal to last December. Annual sales volume fell 7% from 1959. Automotive stores, expected to rise 9% seasonally, re­ported sales volume equal to November. Sales rnse 7% from last December but fell 6% in the annual comparison. Nationally, sales rose to 6.5 million cars in 1960, against 6 million in 1959. Furniture and household appliance stores, expected to rise 29% seasonally, actually rose 28% from November. Sales trailed last December by' 14%, and the year's sales trailed 1959 by 6%. Sales consistently lagged behind all year. National sales fell 7% to 10% behind 1959. Heavy appliances were the least in demand. Retailers feel that unemployment is a heavy factor in curtailing their sales and that customers who were working postponed buying such things as furniture and appliances. To get the con­sumers into the stores, price trimming on regular lines and special-priced promotional items are now in the offing. Hardware stores, which carry many gift items, reported a sales rise of 39% over November, but the major group, lumber building material, and hardware stores, seasonally expected to remain unchanged from November, registered a sales drop of 10%. The December-to-December com­parison showed a 19% drop for the group. The annual sales Cll&DIT llATIOI IN DltP..lJlTJONT AND .u'P.AUL ITOllKI Ratio of Ratio of credit ealea collections to to net sales• outetandingt Number of ----­ reporting Dec Dec Dec Dec Claaslflcation stores 1960 1959 1960 1959 ALL STORES --­··­--··­---­-­ 48 70.6 69.8 87 .6 SS. 7 BY CITIES Austin ---··----------­-------··-­--·--·-·····­ 4 59.5 55.8 42.2 46.8 Dallas ----­-----­·-··---·--·-··········· 5 77.4 76.2 88 .8 89.2 San Antonio ·­----·············-······· 3 73.2 74.3 40.6 41.7 Waco --­---·------­-­····---····-···­-­-·-­-·­ 8 56.8 55.8 45.0 45.1 BY TYPE OF STORE Department stores (over $1 million) ····-·--­·---­ 12 72.4 71.6 87.1 87.7 Department stores (under $1 million) ·---------·· 16 48.7 43.6 42.1 49.7 Dry goods and apparel atores ····---­·-·····­···---­------·--­-­ 8 73.1 71.4 55.6 57.2 Women's specialty shops ____ 7 69.1 68.5 86.5 39.4 Men's clothing stores ---­---··· 5 66.7 65.1 43.8 45.4 BY VOLUME OF NET SALES U.500,000 and over ------------·-·­ a 72.5 71.7 87.3 38.2 $500,000 to $1,600,000 ---·-······· 10 53.5 53.4 42.4 47.5 '250,000 to $600,000 ----·-­·-····· 10 47.0 46.4 42.1 44.5 L-than $250,000 ...............• 9 46.2 46.5 43.5 48.8 • Credit ealea divided by net sales. t Collections during the month as a percent of accounts unpaid on the first of the month. comparison showed 1960 sales 13% below 1959. A large increase in construction is expected by the spring of 1961, which should bring relief to this group of retailers. Farm implement dealers, also included in this group, reported a 13% sales decrease from November, last December, and last year. A new farm policy by the new administration may' bring relief to these dealers. Nondurable goods, including apparel, food, drug, gene­ral merchandise, eating and drinking places, gasoline and service stations, and other retail stores, registered a 32% increase in sales over November. Sales fell behind last December by 5% and last year by 1 %. Apparel stores, expecting a 67% seasonal rise from No­vember, reported a 74% rise in sales. The highest sales increases were registered by family clothing stores ( + 108% ) and men's and boys' clothing stores ( +102%). Men's and boys' clothing stores showed a surprisingly large sales increase across the nation. Apparel store sales fell behind last December by 5% in spite of the increase of 7% over seasonal expectation. The annual sales fell 4% behind 1959. TEXAS BUSINESS REVIEW General merchandise sales, including sales of country general stores, department stores, variety and dry goods stores, were expected to show a seasonal increase of 59%. Actually a rise of 78% was reported. Like apparel stores, general merchandise l'itores fell 5% below last December and 4% in annual sales volume. Drug store sales lagged behind seasonal expectation. Ex. pected to rise 45%, sales actually rose 38% from Novem­ber. A sales drop of 2% was recorded from December of last year. Annual sales rose 1% above1959. Chain grocery stores, now stocking sundry items, are lowering drug store sales. Eating and drinking places, expected to rise 5% season­ally, actually rose 1 % in sales from November. A sales loss of 3% from last December and a loss of 2% in annual sales were reported. Food stores, expected to rise 9% seasonally, registered a 7% rise in sales. A loss of 8% was recorded from Decem­ber of last year. Annual sales volume rose 1 % from 1959. A rise of 2% is anticipated for 1961. EITIHATE! OF TOTAL RETA.IL IA.LES Source: Bureau of Businel!B Research in cooperation with the Burean of the Census, U. S. Department of Commerce Percent change Deo Jan-Dec----------­1960 1960 Dec 1960 Dec 1960 Jan-Dec 1960 from from from Type of store (millions of dollars) Nov 1960 Dec 1969 Jan-Dec 1969 TOTAL .................... $1,548.0 $14.664.9 + 21> -4 2 Durable goods• .... 302.1 3,479.3 + 4 •• -7 Nondurable goods 1,246 .9 11,185.6 + 32 -6 -1 U@LllJ DIRECTORY DD 'CJD OF TEXAS MANUFACTURERS • Contains automotive stores, furniture stores, and lumber, building material, and hardware stores. •• Change Is less than one-half of one percent. Gasoline and service stations, seasonally expected to rise 8%, rose 1 % from last month. A rise of 4% from last December was reported. Annual sales volume for 1960 was 2% above 1959. Other retail stores, including florists, jewelry stores, liq­uor stores, office, store, and school supply dealers, reported a rise in sales of 64% over November. A seasonal rise of 58% was expected. December sales fell 7% behind Decem­ber 1959. Annual sales volume for 1960 was 2% below 1959. Jewelry stores registered a sales increase of 150% over November. In spite of this month-to-month increase, sales trailed last December by 16% and last year by 10%. Florists reported a 71 % increase from November sales. Sales dropped 3% from December a year ago but rose 3% over 1959 annual sales. Liquor stores sold 59% more in December than in November and 6% more than last De­cember. Annual sales, however, fell 10% below last year. Office, store, and school supply dealers reported sales up 12% from November. December sales were 9% below December 1959. Annual sales trailed 1959 by 2%. December credit sales in 43 Texas department and ap­parel stores registered a ratio to total net sales of 70.6%, up 0.8 point from December 1959. The ratio of collections during the month to accounts unpaid at the first of the month was 37.6%, down 1.1 points from December 1959. In 11 Texas furniture and appliance stores, the ratio of credit sales to total net sales was 81.8%, down 1.4 points from December 1959. The ratio of collections during the month to accounts unpaid at the first of the month was 14.2%, up 0.3 point from December 1959. The 13th edition of the Directory of Texas Manu­facturers is now off the press. This is the most com­plete and up-to-date source of information about Texas manufacturing. The Directory is divided into three convenient indexes of plants. One section lists plant names alphabetically·. Another section lists all products manufactured in the state and the plants which make that product. The main body of the Directory lists the manufacturers in each city. The Directory lists the complete name and mailing address of the manufacturer, product descriptions, name and title of plant administrator, number of employees, area of distribution of products, date of establishment in Texas, and form of organization. An entire year of research by the staff of the Bureau of Business Research has been devoted to the revision of this volume. Every available source has been checked and the result lists almost 11,000 firms in its 592 pages. Order your copy now-$12.00 from the Bureau of Business Research The University of Texas Austin 12, Texas Local Business Conditions As a reader's guide to better utility of retail sales data, an average per cent change from the preceding month has been computed for each month of the year. This percent change is marked with a dagger ( t) following that figure. The next percent change represents the actual change from the prededing month. A large variation in the normal seasonal from the actual figure represents an abnormal month. This third percent change is the percent change for the identical period the preceding year showing the change between the two yars. Po3tal receipt information which is marked by an asterisk ( 11 ) indicates cash receipts received during the four-week postal accounting period ending January 6, 1961, and the percent changes from the preceding period and the comparable period in the previous year. Annual postal data are for 13 four. week periods falling closest within 1959 and 1960 calendar years. Changes less than one-half of one percent are marked with a double asterisk ( 11 *). Houston and Waco retail sales information are reported in cooperation with the University of Houston Center for Research in Business and Economics and Baylor Bureau of Business Research, respectively. End-of. month deposits as reported represent money on deposit in individual demand deposit accounts on the last day of the month. All population figures are final 1960 census data. Figures under Texarkana with the following symbol ( §) are for Texarkana, Texas, only. Percent change Percent change Dee 1960 Dee 1960 Jan-Dec 1960 Dec from from Jan-Dee Jan-Dec from City and item 1960 Nov 1960 Dee 1959 1960 1959 Jan-Dec 1959 ABILENE (pop. 90,368) Retail sales + 25t + 34 - 8 -7 Apparel stores .................. . + 67t + 73 -11 - 9 Automotive stores .... . + 9t - 2 -1' -15 General merchandise stores + 59t +loo 8 6 Lumber, building material, and hardware stores ....... . ..t + 19 + 2 8 Postal receipts• ..... ................................................ $ 144,511 + 25 + $ 1,333,472 $ l,341,556 1 Building permits, leas federal contracts ................ $ Bank debits (thousands) ................................. $ 613,575 105,664 -59•• -82 2 $ 19,528,824 $ 1,180,360 $ 29,389,137 $ l,180,070 -34 •• End-of-month deposits (thoueandsH ......... ........... $ 67,406 + 5 + 3 $ 63,460 $ 64,255 Annual rate of deposit turnover ........................... . 19.3 + 2 8 18.6 18.4 + Employment (area) ............................. . 31,950 + 6 32,021 32,654 2 Manufacturing employment (area) ............... . 3,220 4 3,208 8,420 6 Percent unemployed (area) ....... .............................. 5.7 2 + 30 6.9 4.6 + 28 ALICE (pop. 20,861) Retail sales . Lumber, building material, and hardware stores . ••t - 19 -33 -14 Postal receipts• . ................. .............. ... $ 21,496 + 36 + 6 $ 204,224 $ 326,381 -37 Building permits, less federal contracts $ 171,584 + 27 +890 $ 1,262,946 $ 1,836,831 - 6 ALPINE (pop. 4,74-0) Postal receipts• ... Building permits. less federal contracts . $ . $ 7,891 10,400 + 72 + 24 +108 $ $ 59,322 165,67 6 $ $ 66,439 165,400 + 5 •• Bank debits (thousands) End-of-month deposits (thousands ) t Annual rate of deposit turnover . . $ $ 2,599 3,855 8.1 -- 2 •• 1 -2 + 1 •• $ $ 30,078 3,557 8.5 $ $ 33,088 3,812 8.6 9 7 1 AMARILLO (pop. 137,969) Retail sales .... .. ................... ·· ······ ······· ······ + 25t + 15 - 5 -10 Apparel stores ............ .......... . + 67t + 56 -28 -14 Automotive stores ...... + 9t - 19 + 12 -17 Eating and drinking places + 5t + 3 9 + 1 Furniture and household appliance stores . ........... .. ·• ·· + 29t + 3 1 Postal receipts• . Building permits, less federal contracts Bank debits (thousands) . End-of-month deposits (thousands) t .. Annual rate of deposit turnover . Employment (area) . Manufacturing employment (area) Percent unemployed (area) . ··················· ··· $ $ $ $ 268,904 1,331 ,672 219,863 122,688 22.0 54,200 5,980 5.6 + -+ --+ u 25 2 4 4 •• 1 30 + 14 -77 7 + 2 8 + 2 + 2 + 44 $ 2,606,021 $ 31 ,916,487 $ 2,637 ,535 $ 114,974 23.0 58,15() 5,973 4.8 $ 2,386.212 $ 39,579,704 $ 2,690,721 $ 117,871 22.8 51,687 5,877 3.2 16 TEXAS BUSINESS REVIEW Percent change Percent change City and item Dec 1960 Dec 1960 from Nov 1960 Dec 1960 !rom Dec 1969 Jan-Dec 1960 Jan-Dec 1959 Jan-Dec 1960 from Jan-Dec 1959 ANDREWS (pop. 11,135) Postal receipts• ............................... .. ... Building permits, Jess federal contracts . Bank debits (thousands) End-of-month deposits (thousands H Annual rate of deposit turnover . $ $ $ $ 12,263 107,000 6,743 9,442 7.3 + 67 + 21 + 6 + + 22 $ $ 99,350 4,648,238 $ $ 88,618 3,412,663 + 12 + 38 ARLINGTON (pop. 44,775) Retail sales ................................ ................ Lumber , building material, ••t - 28 - 21 - 11 and hardware stores ............ Poetal receipts• ......... $ 66,389 + 26 + 14 $ 502,292 $ 447,213 + 12 Building permits, less federal contracts .. ....... $ 853,691 - 46 - 68 $ 9,822,264 $ 11,999,421 - 18 Bank debits (thousands) ....... .. $ 30,618 End-of-month deposits (thousands) t Employment (area) Manufacturing employment (area) ········ $ 29,273 211 ,300 63,600 •• •• + - 3 209,500 63,740 204,767 66,736 + 2 4 Percent unemployed (area) 6.6 + 4 + 28 4.8 4.9 2 AUSTIN (pop. 186,545) Retail sales ......................... ·-····--···--­-··· Apparel stores ............... --------··············· + + 25t 67t + + 16 77 -1() 5 - 5.. Automotive stores Food stores .................... .... ................ ·············------­- + 9t + 9t -10 + 4 + 6 9 - 11.. Furniture and household appliance stores .... ·········-----·············--··­ + 29t + 40 -13 7 General merchandise stores ....................... + 59t + 69 - 8 7 Lumber, building material, and hardware stores ............................ ••t - 2 - 24. - 17 Postal receipts• . ········-···············-­-···----··-·-·· $ 450,641 + 21 + 8 $ 4,766,986 $ 4,611,857 + 5 Building permits, Jess federal contracts ................... $ 6,056,964 +133 +196 $ 46,351,553 $ 65,990,800 - 17 Bank debits (thousands) ···················-------···· $ 203,982 - 1 5 $ 2,661,638 $ 2,473,585 + 4 End-of-month deposits (thousands) t ....................... $ 160,742 + 12 5 $ 143,264 $ 154,567 - 7 Annual rate of deposit turnover ··········-··········· Employment (area) ··· ·················· Manufacturing employment (area) 16.l 75,700 5,960 - 7 •• •• + 2 + 2 + 8 17.8 74,688 6,084 16.l 72,908 6,718 + + + 11 2 6 Percent unemployed (area) ....................... 4.5 + 7 + 67 3.9 8.5 + 11 BAY CITY (pop. 11,656) Retail sales ...................................................... Automotive stores ·········-············· + 9t - 11 + 4S + 6 Postal receipts• ........... ···················· $ 18,688 + 51 + 37 $ 157,942 $ 142,746 + 11 Bank debits (thousands) End-of-month deposits (thou•ands) t ... ............. $ . $ 14,904 21,124 + 10 •• + 4 1 $ $ 156,727 19,730 $ $ 154,287 20,094 + 2 2 Annual rate of deposit turnover 8.5 + 9 + 4 7.9 7.6 + 4 BAYTOWN (pop. 28,159) Postal receipts• ............. $ 45,729 + 85 - 6 $ 823,828 $ 318,188 + 2 Building permits, less federal contracts ....... $ 27(),755 + 61 +368 $ 3,988,183 $ 8,366,590 + 18 Bank debits (thousands) ·················· $ 21,109 + 4 2 $ 25<>.370 $ 258,996 3 End-of-month deposits (thousands) t $ 22,441 + 7 $ 22,240 $ 28,81'l 7 Annual rate of deposit turnover Employment (area) . Manufacturing employment (area) 11.7 514,600 92,375 + + 4 1 2 + 6 + 3 2 11.2 500,633 94,892 11.() 481,367 93,592 + 2 + • + Percent unemployed (area) 5.0 + 6 + 25 4.6 4.7 4 BEAUMONT (pop. 119,175) Retail sal"" ·········· ·········· + 25t + 20 -10 s Apparel stores ..... + 67t +lSl + 3 2 Automotive stores + 9t - 2 -14 8 Eating and drinking places Filling stations + 5t + 8t + 3 •• 9 6 4 General merchandise stores .. + 59 + 92 7 5 Lumber, building material, and hardware stores . ••t -16 8 4 Postal receipts• .......... $ 173,671 + 26 + 5 $ 1,580,164 $ l,496,871 + 2 Building permits, Jess federal contracts ... ........ .. $ 1,530,793 -21 +110 $ 17,686,107 $ 19,770,147 -11 Bank debits (thousands) . ... $ 170,447 + 6 6 $ 1,927,758 $ 1,892,648 + 2 End-of-month deposits (thousandslt ..... $ 106,078 1 2 $ 98,820 $ 103,720 5 Annual rate of deposit turnover 19.2 + 1 3 19.6 18.2 + 7 Employment (area) .. 106,900 + + 106,176 104,101 + 1 Manufacturinit employment (area) ..... 38,530 1 + 3 38,522 32.451 + s Percent unemployed (area) 6.8 + 8 -18 7.3 9.9 - 26 FEBRUARY 1961 Percent change Percent change City a.nd Item Dec 1960 Dec 1960 from Nov 1960 Dec 1960 from Dec 1959 Jan-Dec 1960 Jan-Dec 1959 Jan-Dec 1960 from Ja.n-Dec 1959 BEEVILLE (pop. 13,811) Retail sales Lumber, building material, and hardware stores .... ............................. ••t + 25 -16 -19 Posta.l receipts• ········ ------···-·-·------····--········-----············­$ 19,619 + 54 + 8 $ 150,533 $ 148,243 + 2 Bank debits (thousands) ··················-·--··············-····­·· $ End-of-month deposits (thousands) ········-------------­$ 10,208 13,178 + 10 •• 1 4 $ $ 116,031 18,124 $ $ 119,552 13,880 8 5 Annual rate of deposit turnover ·-·-··········--·· 9.3 + 8 + 4 8.8 8.6 + 2 BIG SPRING (pop. 31,230) Postal receipts• ... ... .... ........ .. .. . ············-··················· -­$ 46,800 + 56 + 1" $ 887,016 $ 880,206 + 2 Building permita, less federal contra.ct. ·-·-····---····· $ 71,156 -57 -87 $ 2,889,659 $ 2,766,571 + 4 Bank debits (thouHnds) -------­$ 41,031 8 + 5 $ 466,135 $ 477,868 2 End-of-month deposits (thousands) i ·········--···-··-·· $ 28,325 + 8 $ 27,028 $ 28,877 6 Annual rate of depoait turnover 17.4 4 + 8 17.2 16.9 + 2 BRADY (pop. 5,338) Poatal receipts• ----··--------·····-----------······-··------···--····· $ 7,635 + 68 + 19 $ 61,094 $ 60,144 + 2 Building permits, lesa federal contracts --·--····--·--·· $ 27,500 -39 -80 $ 85Z,553 $ 182,745 + 98 Bank debits (thousands) ···----··-···············-·······--·····-· $ 5,165 + 14 + 10 $ 55,552 $ 55,851 End-of-month depoeits (thousandsft ········-······-··-· $ 7,083 + - 1 $ 6,855 $ 6,958 Annual rate of deposit turnover ·········­·-·-·····-····--··­ 8.8 + 18 + 13 8.1 8.5 BRENHAM (pop. 7,740) Postal receipts• ·················-···-·············­·······-···-·--·-----­$ 12,888 + 49 + 2 $ 101,699 $ 100,560 + 1 Building permits, leas federal contracts ................ $ Bank debits (thousands) ············-·----············--·-·----··· $ 46,733 8,947 + 77 6 +1249 •• $ $ 698,582 105,308 $ $ 1,216,857 103,999 -+ 48 End-of-month depoeita (thousands)~ ············------·· $ 12,780 + 8 $ 12,400 $ 12,587 1 Annual rate of deposit turnover ····--·-·········--------··­ 8.5 4 + 2 8.5 8.3 + 2 BROWNSVILLE (pop. 48,040) Retail aales ·-·--······································-··········-·---··----·-­ + 25t + 16 •• 5 Automotive stores ··········-··-·-···-·-·­·······-··············­ + 9t - 8 -18 9 Lumber, building material, and ha.rdware ator.,. ······-··-··-··------·--·-·------­- ..t + 82 + 6 -11 Poatal receipts• ···-··········-···················--·--·-····---­----------­$ 45,934 Building permits, less federal contracts ·····---·--­--·· • 8,872,994 Bank debits (thousands) ················-·············---·-·-·-·-· $ 28,815 + 49 +2096 -16 + 10 +848 -2 $ $ $ 386,415 6,786,618 887,713 $ $ $ 891,284 2,355,967 398,429 -1 +191 8 End-of-month depoelts (thousa.nds) l --·······--·--­---·· $ 22,159 + 5 + 11 $ 18,988 $ 19,297 2 Annual rate of dep0&it turnover ---·········-····-····-----··­ 16.0 -18 - 9 21.4 20.5 + ' BROWNWOOD (pop. 16,974) Retail sales -----------------·-·-··················-·····-··--·-··-········---· + 25t + 69 8 Apparel stores ---·--··········-···········--····················-··· + 67t + 58 + 3 + Furniture and household appliance stores ·····································-·····­ + 29t + 17 - 22 - 11 Postal receipts• ··--------·····-····-·--·····­-·-·--··--·····---·······-··-· $ 33,912 + 21 + 13 $ 303,616 $ 298,848 + 8 Buildinir permits, less federal contracts ··········-···-­$ 14,097 - 61 - 34 Bank debits (thousands) ·················---·················----­$ End-of-month dep0&its (thousands) t ···············-···­$ 13,986 13,471 + + 1 5 + 4 $ $ 170,828 12,741 $ $ 159,868 13,090 + - 7 3 Annual rate of deposit turnover ---··························­ 12.7 2 4 13.4 12.2 + 10 BRYAN (pop. 27,542) Retail sales ··············------···········­···-----··············----·-·······­ + 25t + 14 + 23 - 2 Poetal receipts• ············-···-·······----··-------·-·····-----·--·-··-· $ Building permits, less federal contract.a ······-·······-· $ 34,732 74,385 + - 49 51 + 20 -51 $ 291,168 $ 275,505 + 6 CALDWELL (pop. 2,204) P ostal receipts• .......... ··-···············-··-----­-----------·· $ Bank debits (thousands) ··········-··-··---·--·---­-------·-····· $ End-of-month depoeits (thousa.nds) t ..... --·---­--·­··· $ Annual rate of deposit turnover ---·­----···················· 4,007 2,462 4,175 7.1 + + + + 48 7 2 6 + 35 + 16 -7 + 27 $ $ $ 30.503 26,408 3,846 6.8 $ $ $ 29,684 26,646 4,401 6.0 + --+ 3 1 13 13 CISCO (pop. 4,499) Poatal receipts• ········-···-······---·· ·----··--·· $ 6,045 + 32 -14 $ 56,960 $ 56,853 + 1 Bank debits (thousands) ...... ····--------·········· ··----······ $ 3,196 •• -11 $ 39,041 $ 38,217 + 2 End-of-month depoeits (thousands) t ......... .......... $ 8,994 + $ 8,946 $ 8,922 +Annual rate of depoeit turnover -----····-·-·----·····----·· 9.6 -1 9 -9.9 9.8 + TEXAS BUSINESS REVIEW Percent change Percent change City and item Dec 1960 Dec 1960 from N ov 1960 Dec 1960 from Dec 1959 Jan-Dec 1960 Jan-D« 1959 Jan-D« 1960 from Jan-Dee 1959 CLEBURNE (pop. 15,381) Poetal receipts• ........ ··································-·········· .... $ 22,240 + 41 + 6 $ 178,362 177,621 •• Building permit&, less federal contracts ................ $ Bank debits (thousands) . ··············-············· ... $ 104,856 10,221 •• +147 -11 End-of-month deposits (thousands) i .................... $ 3,994 1 + 1 Annual rate of deposit turnover ···················-········· 10.4 - 3 COPPERAS COVE (pop. 4,567) Postal receipts• ···································-······················· $ Building permits, less federal contracts ................ $ Bank debits (thousands) ·······················-················· End-of-month depoeits (thousands) i .................... $ Annual rate of deposit turnover ............................. . 4,171 416,200 836 757 12.6 + 49 +464 + 21 +156 -9 +113 + 12 $ 25,282 $ 7,868 $ 632 12.8 CORPUS CHRISTI (pop. 167,690) Retail sales ................................................................... . + 25t + 55 2 Apparel stores ..................................................... . + 67t + 81 1 2 Automotive stores .............................................. . + 9t + 11 + 8 3 General merchandise stores .............................. . + 59t +120 9 Postal receipts• ............................................................ $ 249,895 + 39 + 5 $ 2,190,399 $ 2,142,251 + 2 Building permits, less federal contracts ................ $ 601,017 -32 -44 $ 13,779,111 $ 21,887,776 -86 Bank debits (thousands) ···································-······· $ 195,305 + 3 + 5 $ 2,290,904 $ 2,283,148 .. End-of-month depoeits (thousands) : .................... $ 108,665 + 1 -II $ 107,366 $ 113,030 -5 Annual rate of depoeit turnover ........................... . 21.7 + 4 + 10 21.3 20.2 5 + Employment (area) ................................................... . 64,100 •• -1 64,708 64,404 •• Manufacturing employment (area) ····-·········· 8,520 •• + 3 8,541 8,195 + 4 Percent unemployed (area) ................................... . 6.9 + + 10 6.5 6.2 + 5 CORSICANA (pop. 20,344) Postal receipts• ···························-······························· $ 72,707 -24 + 52 $ 416,407 $ 370,594 + 12 Building permits, less federal contracts ................ $ 58,700 + 351 + 45 $ 1,551,679 $ 1,483,676 + 5 Bank debits (thousands) ·······················-················· $ 18,063 + 13 7 $ 208,665 $ 202,986 •• End-of-month deposits (thousands) i .................... $ 20,461 + 4 2 $ 19,301 $ 20,477 6 Annual rate of deposit turnover ............................. . 10.8 + 11 5 10.5 9.9 + 6 DALLAS (pop. 679,684) Retail sales .................................. . + 83t + 33 - 8 s Apparel stores ... . + 66t + 61 - 4 4. Automotive stores .................................. . Eating and drinking places + Ht + 4t - 8 •• + 17 -2 2 •• Florists ......... . Food stores ........... . + 58t + 2t + 32 + 10 -16 5 + 11 •• Furniture and household appliance stores + 2lt + 26 + 2 -10 J ewelry stores ....... . +172 -23 -17 Lumber, building material, and hardwar e stores . - 1 t -18 -23 -15 Office, store, and school su pply dealers + 22 + 4 - 6 + 10 Postal r eceipts• . ......... ................. . $ 2,551 ,470 - 2 + 7 $ 28,958,8()8 $ 26,780,367 + 8 Building permits, Jess federal contracts ... ... $ 11,897,280 + 25 + 22 $132,039,492 $158,806,506 -17 Bank debits (thousands) ..................... .... $ 8,554,175 + 24 + 9 $ 34,681,589 $ 31,527,823 + 10 End-of-month deposits (thousands)! $ 1,331,843 + 15 + 6 $ 1,152,866 $ l,i46,195 + Annual rate of deposit turnoYer Employment (area) Manufacturing employment (area) 34.3 440,800 93,475 + 16 + •• + 5 2 •• SO .l 485,633 93,672 27.5 437,421 93,821 + 9 •••• P ercent unemployed (area) ......... . 5.1 + 13 + 70 4.2 8.3 + 27 DEL RIO (pop. 18,612) Retail sales . ........................ . Automotiye stores .... + 9t -25 -23 - 13 Lumber, building material, and .hardware stores ... ..t -20 -29 - 13 Postal receipts• . . $ 21,439 + 55 + 7 $ 164,563 Building permits, less federal contracts .................. $ 32,085 -39 -61 Bank debits (thousands) . ............................ End-of-month deposits (thousands)! Annual rate of deposit turnover . .... $ .... $ 9,840 12,264 9.3 + 4 •• + • + 3 1 + 3 $ $ 113,157 12,764 9.3 Percent change Percent chan&'e City and item Dec 1960 Dec 1960 from Nov 1960 Dec 1960 from Dec 1959 Jan-Dec 1960 Jan-Dec 1959 Jan-Dec 1960 from Jan-Dec 1959 DENISON (pop. 22, 7 48) Retail sales Drug stores Postal receipts• ... $ Building permits, less federal contracts $ Bank debits (thousands) $ End-of-month deposits (thousandsJi $ Annual rate of deposit turnover . + 45t 32,022 32,529 18,410 14,954 15.0 + 56 + 41 + 11 -87 + 8 + 9 5 2 + 17 $ 265,209 $ 255,350 + -86 $ 2,351,141 $ 2,199,173 + + + ' 5 $ 205,824 $ 207,631 1 -3 $ 14,485 $ 16,857 6 14.2 DENTON (pop. 26,844) Postal receipts• . $ 89,860 + 18 + 6 $ 399,883 $ 369,414 + 8 Building permits, less federal contracts . $ 641,800 + 61 + 91 Bank debits (thousands) ................... $ 18,618 + 1 + 14 End-of-month deposits (thousands)t . . $ 19,465 -8 + 2 Annual rate of deposit turnover ... 11.3 •• + 8 Employment (area) 440,800 + 2 435,638 487,421 •• Manufacturing employment (area) . 93,475 •• •• 93,672 93,821 Percent unemployed (area) ... 6.1 + 13 + 70 4.2 3.3 + 27 DONNA (pop. 7,522) Postal receipt.a• ··--··-···-·······-..... $ 6,861 + 65 Building permits, less federal contracts 20,885 . ········· $ -87 $ 848,950 Bank debits (thousandJI) $ 2,294 + 8 2 $ 32,699 $ 82,678 End-of-month deposit& (thousands) t ... $ 2,818 •• 1 $ 2,665 $ 2,707 -2 Annual rate of deposit turnover . 9.8 + ' 12.S EDINBURG (pop. 18,706) Postal receipts• .................................. $ 16,618 + 83 + 17 $ 140,717 $ 186,800 + a Building permits, less federal contracts ..... $ 107,750 + 15 + 7 $ 2,900,316 1,623,928 $ + 79 Bank debits (thousands) ..................... $ 12,887 -11 -11 $ 165,800 $ 162,974 + 2 End-of-month deposits (thousands)t $ 8,231 -11 8 $ 9,175 $ 8,655 + Annual rate of deposit turnover 17.7 -6 -2 18.l 18.9 EDNA (pop. 5,038) Retail sales ..... . Food stores + 9t + 18 + 4 -2 Postal receipts• ........................ . ... $ 7,739 + 82 + 13 $ 65,610 $ 64,067 + 2 Buildin&' permits, le8s federal contracts $ 2,416 -78 +271 $ 264,029 $ 644,021 -61 EL PASO (pop. 276,687) Retail sales + 26t + 36 -1 -6 Automotive stores . + 9t -26 -29 -17 Lumber, building material, and hardware stores ·--··-·-···················· ..t •• -8 -10 P ostal receipts• $ B!H,632 + 12 + 3 $ 3,682,398 $ 8,491,161 + 5Building permits, less federal contracts $ 13,227,762 +161 +240 $ 67,400,726 $ 66,002,529 -12Bank debits (thousands) . $ 381,520 + -4 $ 4,139,861 $ 4,233,098 End-of-month deposits (thousands) t $ 171,824 2 + •• $ 167,006 $ 168,184 1 Annual rate of deposit turnover 26.8 + 7 6 24.8 26.0 Employment (area) ..................... . 92,200 •• + 2 90,683 84,164 + 8 Manufacturing employment (area) 18,880 1 + 8 14,097 18,827 + 8 Percent unemployed (area) ...... .. ...................... . 4.8 + 2 + 7 6.6 4.2 + 38 FORT WORTH (pop. 356,268) Retail sales + 24t + 33 •• -6 Apparel stores ..................................... .. + 67t + 78 + 8 -6 Automotive stores ----·--································ + St -14 Drug stores ·············--·-------··············---·········· + aot + 26 9 -12 Eating and drinking places .................... . •• 3t 7 Filling stations .................................. .. + 7t 6 + 25 -8 Food storeo .................................. + 9t + 12 + 9 + Furniture and household •• appliance stores .................... + 26t 6 -30 -18 Lumber, building material, and hardware otoreo .................................. .. -9t -21 -21 -21 Postal receipts• ...... . . ............................... $ 982,613 + 24 + 9 $ 9,272,348 • 8,861,769 + 6 Building permits, less federal contracts ........ $ 2,333,342 -89 9 $ 46,230,939 $ 68,386,106 -21 Bank debits (thouoands) ....................................... $ 841,044 + 14 4 $ 9,294,782 $ 9,431,146 -1 End-of-month deposits (thoueands) ! ................. S 409,869 + 7 + 9 $ 871,171 $ 376,520 -1 Annual rate of deposit turnov~r ····-----··················· 25.4 + 11 8 25.1 26.0 Employment (area) ........................... . 211,300 •• + 1 •• 209,600 204,767 + 2 3 63,740 56,785 4 Manufacturing employment (area) .............. .. 63,600 Percent unemployed (area) .......... ........................ . 6.5 + 4 + 28 4.8 4.9 2 TEXAS BUSINESS REVIEW Percent change Percent change City and Item Dec 1960 Dec 1960 from Nov 1960 Dec 1960 from Dec 1969 Jan-Dec 1960 Jan-Dec 1959 Jan-Dec 1960 from Jan-Dec 1969 FREDERICKSBURG (pop. 4,629) Retail sales ·······························-·····-···-··········-··-········ Drug stores ·····-··-··········-···············--------------····-··· Pootal receipts• ----··-····--------------------- ----­---­---------------­$ Building permits, Jess federal contracts ................ $ Bank debits (thousands ) ------------······························ $ End-of-month deposits (thousands) ~ ---·-······-······· $ Annual rate of deposit turnover .............................. + 26t + 46t 8,923 16,976 7,002 7,766 10.7 + + + -+ 22 24 61 72 •• 3 3 + + ---+ 4 •• 3 29 1 23 24 $ $ $ $ 69,230 746,726 77,364 8,097 9.6 $ $ $ $ 64,496 609,806 76,414 9,211 + + + + - 7 22 1 12 GALVESTON (pop. 67,175) Retail sales ·-················-----·····---······················-------------­Apparel stores ·······-·········---······---·······------­----····· + + 26t 67t + + 38 91 -- 3 8 + 1 •• Automotive stores ··-······························------···-·-·· + 9t - 16 + 14 -124 Food stores ----·····---·--····-------·-····················-·········· + 9t - 18 + 6 + 8 Lumber, building material, and hardware stores ··-······························-· ••t - 10 - 23 3 Pootal receipts• ···························································· $ 111,638 + 21 - 4 $ 1,111,076 $ 1,120,962 1 Building permits, less federal contracts ················ $ Bank debits (thousands) ·······························-········· $ 124,692 94,760 -+ 63 10 -- 78 7 $ $ 6,160,708 1,068,065 $ $ 4.111.966 1,067,860 + 60 •• End-of-month depoolts (thouaands) ·i ·················-· $ Annual rate of deposit turnover ·····-······················ 60,020 19.2 + + 3 10 - 6 •• $ 61,782 17.S s 63,743 16.8 + 3 Employment (area) ···············-­···········-····················· 63,400 + + 7 61,283 49,312 + 4 Manufacturin1r employment (area) ................ 10,780 + 1 + 9 10,841 10,410 + 4 Percent unemployed (area) ······-·····----·····------·····-·-­ 6.6 4 8 6.2 7.8 - 16 GARLAND (pop. 38,501) Postal receipts• ·································-··--·--··········-··· $ 44,691 + 44 + 1 $ 368,053 $ 338,470 + 9 Building permits, less federal contracts ··-············· $ 372,267 - 73 - 34 s 16,174,318 $ 13,111,928 + 16 Bank debits (thousands) ···-·······················-··­······-·· $ 26,724 + 26 + 19 $ 276,217 $ 251,807 + 9 End-of-month depooits (thousands) t ···················· $ 16,263 + 12 + 18 $ 14,332 s 14,061 + 2 Annual rate of deposit turnover ·······················-··· Employment (area) ·····························-············-········­Manufacturing employment (area) ·-·-·········· 20.8 440,800 93,475 + + 16 •• + - 6 2 •• 19.4 435,633 93,672 437,421 93,821 •••• Percent unemployed (area) ·-­--·····-·····--·-···-·······-··· 6.1 + 13 + 20 4.2 3.3 + 27 GIDDINGS (pop. 2,821) Poet&l receipts• ·--·········-·····························----······-····· $ 4,872 + 21 + 33 $ 43,347 $ 39,468 + 10 Bank debits (thousands) ····----···················-············· $ 2,847 + 11 + 20 $ 29,986 $ 28,304 + 6 End-o!-month depooits (thousands) t ···················· $ 3,883 + 2 - 3 $ 3,727 $ 3,767 1 Annual rate of deposit turnoTer ·········-········--···-··· 8.9 + 10 + 26 8.0 7.6 + 7 GLADEWATER (pop. 5,742) Poetal receipts• ···················-···················-·········-··--· $ 9,063 + 30 - 1 $ 79,463 $ 73,669 + 8 Buildln1r permits, less federal contracts ··············­ $ 3,500 - 96 + 18 $ 360,666 $ 429,160 - 18 Bank debits (thousands) ·····--·········-··········­---·····-··· $ End-of-month depoolts (thousands) t -·················· $ 3,631 4,286 + - 13 10 - 5 •• $ $ 40,276 4,31 8 s $ 44,673 4,473 - 10 8 Annual rate o! deposit turnover ............................ 9.7 + 23 9.4 9.9 5 Employment (area) ·····························-··----··---···-·····­ 28,860 + 1 + 2 28,360 27,804 + 2 Manufacturing employment (area) ·············· 6,400 + 2 + 7 6,188 4,902 + 6 Percent unemployed (area) -------····················--······· 4.9 2 + 48 4.2 4.0 + 6 GOWTHWAITE (pop. 1,383) Postal receipts• ·····················-···················-·····­··········· $ 7,464 +206 + 30 $ 80,713 $ 27,347 + 12 Bank debits (thousands ) ·····---·····················--········-·· $ 3,285 + 10 + 14 $ 37,366 $ 41,197 9 End-of-month depooits (thousands) t .................... $ 3,609 + 2 + 1 $ 3,498 $ 3,659 2 Annual rate o! deposit turnover ----·--···-···············­ 10.9 + 8 + 16 10.7 11.5 7 GRAND PRAIRIE (pop. 30,386) Postal receipts• ···························································· $ 36,098 + 37 + 2 $ 293,967 $ 282,222 + 4 Building permits, J..,s federal contracts ·····-·········· $ 226,210 - 11 + 68 $ 8,439,349 $ 6,448,188 - 47 Bank debits (thousands) ············································ $ 16,464 + 17 End-of-month depooits (thousands) t .................... $ 10,083 - 17 Annual rate of depooit turnover ·······················-····· Employment (area) •••••••••••••••••••• •••••••••••0 •• Manufacturing employment (area) ·············­ 16.7 440,800 93,476 + + 28 .. - 2.. 436,638 93,672 437,421 93,821 ••.. Percent unemployed (area) ·-·-·································· 5.1 + 13 + 70 4.2 3.3 + 27 FEBRUARY 1961 Percent change Percent change City and item Dec 1960 Dec 1960 from Nov 1960 Dec 1960 from Dec 1969 Jan-Dec 1960 Jan-Dec 1969 Jan-Dec 1960 frorn Jan-Dec 1969 GREENVILLE (pop. 19,087) Retail Bales ·······--· ····----·-­-------­---­--------­ + 26t + 14 + 11 -5 Apparel stores ----------·­············ ............................. + S7t + 80 -26 -11 Automotive stores ················ ·························-····· + 9t + + 27 -13 Drug stores ···············-································-·····---· + 46t + 43 + 4 + 1 Lumber, building material, and hardware stores --------·-·----··-----------------­ ••t + 15 + 37 + 3 Postal receipts• ···············­------­---­----­------------­-----------­--$ 33,378 + 6 -10 $ 286,767 $ 281,702 + 1 Building permits, less federal contracts ----------------$ Bank debits (thousands) --­--­--------------­--------------------­$ End-of-month depoeits (thousands) t ------------------­$ Annual rate of deposit turnover ····-·······-··············· 30,335 16,062 16,763 11.1 -79 7 + 6 8 -84 -13•• -10 $ $ $ 2,429,646 190,262 15,486 12.3 $ $ $ 2,160,164 199,843 16,214 12.3 + 12 -5 -4 •• HARLINGEN (pop. 41,207) Retail sales ···················--·····-··········-···-·····················---­ + 25t + 15 + 3 -8 Automotive et.ores ·············-··················----·-·········· + 9t + 6 + 31 -12 Furniture and household appliance stores --···················--······--·-----------­Postal receipts• ································ ------------------­-­$ + 29t 51,050 + 51 + 11 -5 -12 $ 476,973 $ 450,548 + 3 + 6 Buildlnir permlta, less federal contracts --­$ 181,000 -67 -53 Bank debita (thousands) ······-··--· ------------­$ 39,637 + 4 + 4 $ 624,416 $ 637,422 2 End-of-month deposits (thousands) i ·····----­ -­$ 26,585 + 1 4 $ 27,059 $ 27,718 2 Annual rate of deposit turnover ---------------------------­ 18.0 + 7 + 8 19.2 19.0 + 1 HENDERSON (pop. 9,666) Retail oalea ------·······················-······················-­·--· Apparel •tores Food stores ·· ···-·-----­-·--·············· Postal receipts• ··---·-­····· ·· ··­···· $ Building permits, less federal contracts ____ ---­-$ Bank debits (thousands) --­·······--·-··········­$ End-of-month deposits (thousands) t --$ Annual rate of deposit turnover __ __ ____ ·----------· --·------· + 25t + 67t + 9t 17,267 43,976 7,796 16,512 6.() + 88 + 90 -3 + 61 -66 + 9 -1 + 11 + •• + 7 + 10 7 -3 -3 •• $ $ $ $ 136,990 1,734,063 87,69() 16,634 6.6 $ $ $ $ 187,223 1,707,515 90,661 15,933 5.7 4 + 6 •• + 2 8 2 2 HEREFORD (pop. 7,652) Postal receipts• ·······--­-········· $ Buildinir permits, less federal contracts ··--···· ········ $ Bank debits (thousands) --­----­---­--­--­$ End-of-month deposits (thousands ) t ----­$ Annual rate of deposit turnover _ ··-----············· 14.160 84,200 16,129 11,624 16.8 + 61 -62 6 + 3 9 + 17 -15 + 4 4 + 9 $ $ $ $ 113,326 1.110.880 161,848 1(),894 13.9 $ $ $ $ 107,468 1,618,861 156,625 11,076 14.2 + 5 -27 2 2 HOUSTON (pop. 938,219) Retail salesIT ----------------------­--------·-·········· Apparel stores~ __ ···--­-----­---­--­············-········-·· Automotive storesH ----­·--··············· Liquor storesU -·--····································· Drug storesIT Eating and drinkinir placesIT -------­Filling stationsfl Food storesU ················· · ·-··­-·-· Furniture and household + 32t + 63t + 14t + 79t + 33t + 1ot + St + 13t + 22 + 93 •• + 73 + 86 -6 + 2 + 11 -6 -8 -10 + 16 -7 -10 + 6 + 3 1 9 + 2 + 2 8 + 5 + 7 appliance storesV ·······-·················· ··· General merchandise storesn Lumber, building mater ial, + 23t + 53t + 16 + 59 -15 -4 8 and hardware storesU -3t Other retail storesfl __ + 60t Postal receipts• __ ························­$ 2,016,660 Building permits, less federal contracts $ 13,527,675 Bank debits (thousands) _ $ 2,941,059 End-of-month deposits (thousands) t $ 1,378,602 Annual rate of deposit turno"Yer 26.0 Employment (area) 514,600 Manufacturing employment (area) .. 92,375 Percent unemployed (area) -·----·· ···· ······-·· ·· ······ ········ 5.0 -14 + 50 + 9 -6 + 17 + 4 + 12 + 1 2 + 6 -22 -9 + 11 -40 •• + 4 4 + 3 2 + 25 $ 20,870,362 $286,732,976 $ 30,913,926 $ 1,271,674 24.3 60(),633 94,892 4.5 $ 19,326,969 $226,578,122 $ 30,206,880 $ 1,254,427 24.1 481,367 93,597 4.7 9 1 + 8 + 27 + 2 + + 1 + ' + 1 4 TEXAS BUSINESS REVIEW Percent change Percent change City and Item Dec 1960 Dec 1960 from Nov 1960 Dec 1960 from Dec 1959 Jan-Dec 1960 Jan-Dec 1959 Jan-Dec 1960 from Jan-Dec 1959 ffiVING (pop. 45,985) Postal receipts• .................... --­$ 89,807 + 34 + 2 $ 298,971 $ 278,711 + 7 Building permits, less federal contracts $ Employment (area) --­----·--·---------­······--------­-······----­--­Manufacturing employment (area) 439,670 440,800 93,475 -52 + •• -18 -2 •• $ 14,800,318 485,688 93,672 $ 18,128,181 437,421 93,821 -18 •• •• Percent unemployed (area) ............... 5.1 + 13 + 70 4.2 3.3 + 27 JACKSONVILLE (pop. 9,590) Postal receipts• .................................... ........ s 19,680 + 12 + 19 $ 211,847 s 192,983 + 10 Building permits, lesa federal contracts .......... . s 24,635 -94 + 41 $ 1,597,285 $ 987,313 + 70 Bank debits (thousands) ................ $ End-of-month deposits (thousands) t .................. ... $ 10,021 9,219 + 8 + 8 + •• $ $ 122,000 8,469 Annual rate of deposit turnover ... ·····-··············-··· 13.5 + 3 + 5 H.4 JASPER (pop. 4,889) Retail sales ----·--··· ········--···--··· ----············-··· + 2.lit + 17 + 7 •• Automotive stores ........ ···-----···············--· + 9t + 9 + 22 Poatal receipts• ·-----·-------------·--------------·-·-------· $ 14,012 + 66 + 22 $ 98,612 $ 92,630 + 6 Bank debits (thousands) 7,445 $ 90,964 $ 83,659 9 ----········-············ --. •• + + End-of-month deposit• (thousands) t $ 9,387 + 10 + $ 8,630 $ 8,004 + 8 Annual rate of deposit turnover ... ·······-·········· 10.0 -5 2 10.6 10.6 •• KILGORE (pop. 10,092) Postal receipts• ..... -............................ ·····-·······--··-··· $ 22,433 + 46 + 5 $ 182,880 $ 183,569 •• Building permits, lesa federal contracts -·--·--·--·--· s 49,950 +zoo $ 1,237,659 Bank debits (thouaanda) ...................... ----------··---······ $ End-of-month deposits (thousands) t .................. . $ 12,125 13,897 + 5 •• -8 -10 s $ 153,572 14,366 $ $ 184,589 15,388 -- 17 7 Annual rate of deposit turnover ­-····-------­·----------­·---­ 10.5 + 6 + 2 10.6 12.0 - 12 Employment (area) -········-·······-········ ------­--·--·----····· 28,850 + + 2 28,350 27.804 + 2 Manufacturing employment (area) ................. 5,400 + 2 + 7 5,188 4,902 + 6 Percent unemployed (area) ............................. 4.9 2 + 48 4.2 4.0 + 6 KILLEEN (pop. 23,377) Postal receipts• ··­···-­-----·----------­--···­-·---·---·--····--·-·-­$ 38,845 + 14 + 5 $ 852,596 $ 834,290 + 6 Building permits, less federal contracts ­---··············· s 188,162 -29 - 86 Bank debits (thousands) ···­-··---·-····----·············-----... $ 9,688 + 5 3 $ 118,866 s 110,846 + 8 End-of-month deposits (thousands) t --·······--····· $ 7,551 8 2 $ 7,490 s 7,100 + 6 Annual rate of deposit turnover ...... ·······-········--···· 15.1 + 7 7 15.9 16.6 + 2 LA FERIA (pop. 3,047) Postal receipts• -· -­------··-·················-····· s 4,675 + 94 + 2 $ Sl,847 $ 29,786 + 6 Building permits, leas federal contracts ........... $ 5,400 + S4 Bank debits (thousands) .. ····-··-··········---------········ .... $ 1,517 + 21 End-of-month deposits (thousands) t ----­$ 1,326 - 6 Annual rate of deposit turnover ........... 13.3 + 25 LA MARQUE (pop. 13,969) Postal receipto• -------·------·--­·­------------­--­$ Bulldlng permits, le1111 federal contracts --------------··· $ Bank debits (thousands) ··----· ·············-·············· ... $ 15,329 18,000 6,353 + 82 +us.. + 8 -1 $ s $ 102,471 937,282 79,681 $ $ $ 102,943 1,562,685 75,456 -+ •• 40 6 End-of-month deposits (thousands) t .. ................. ... $ 5,815 + 4 -11 $ 5,762 s 5,556 + 4 Annual rate of deposit turno..er .......... ·­··-··········--··· 14.7 + 8 + 10 13.8 13.7 + 1 Employment (area) ··­··· ----·······-·····-····· ··········-········ 53,400 + + 51.283 49,312 + 4 Manufacturing employment (area) 10,78() + + 9 10,841 10,410 + 4 Percent unemployed (area) -------··-·­ 6.5 4 8 6.2 7.8 - 15 LAMESA (pop. 12,438) Retail aalea Automotive stor"" ---­---­------------­----­----------------­Drug stores --­-------------­---·------·----­--------­-·------­Postal receipts• ------------­--·------------­------------·­--------­$ Building permits, lea11 federal contracts -·--·------$ Bank debits (thousand•) ····---·············-­--­--·-------­--­$ End-of-month depoeits (thousands) *·················­---­$ Annual rate of deposit turnover ....................... ______ + 9t + 46t 19,726 78,200 28,553 19,638 17.2 + 25 + 8 + 27 -82 -27 -3 -30 + 20 -7 + 33 -61 + 31 + 2 + 31 $ $ $ $ 174,123 1,843,669 235,277 16,052 14.3 $ $ $ $ 170,931 3,006,882 277,471 17,053 13.3 -12 •• + 2 -39 + 3 6 + 8 Percent change Percent change City and item Deo 1960 Dec 1960 from Nov 1960 Dec 1960 from Dec 1959 Jan-Dec 1960 Jan-Dec 1959 Jan-Dec 1960 from Jan-Dec 1959 LAMPASAS (pop. 5,061) Postal receipt.a• ... ···--··············--·­······················· $ 7,593 + 37 - 12 $ 61,983 $ 61,202 + 1 Building permits, less federal contracts ................ $ 83,500 + 40 - 10 $ 528,350 $ 387,016 + 37 Bank debits (thousands) ...................................... ..... $ 6,846 - 4 $ 74,640 $ 77,102 8 End-of-month deposits (thousands)~--·· · ···· ··· ····· ····· $ 6,708 + 14 + $ 6,378 $ 6,896 7 Annual rate of deposit turnover . 11.1 - 9 + 11.7 11.2 + 4 LAREDO (pop. 60,678) Postal receipts• ......... .... ......... ·············-­············· $ 44,007 + 22 + 3 $ 423,126 $ 894,828 + Building permits, less federal contracts ................ $ 67,610 - 41 - 43 $ 2,433,469 $ 2,689,423 6 Dank debits (thousands) ·················· $ End-of-month deposits (thousands) t ..... ........ $ 30,167 22,017 + + 16 + 4 $ $ 338,912 22,011 $ $ 323,816 22,107 + •• Annual rate of deposit turnover ..... ........................ 16.7 + 16 + 8 16.4 14.7 + LLANO (pop. 2,656) Postal receipts• ························ .. $ 4,671 + 93 + 46 $ 83,742 $ 33,807 •• Dank debits (thousands) ............... $ 3,030 -13 + 14 $ 37,260 $ 36,944 + End-of-month deposits (thousands) t...................... $ 3,936 -6 -3 $ 3,911 $ 3,919 .. Annual rate of deposit turnover .............................. 9.0 -11 + 16 9.5 9.6 •• LOCKHART (pop. 6,084) Retail sales Apparel stores Food stores -·-· --------················----------­Postal receipts• ....... ·············-·······-·-··················· $ Building permits, less federal contracts .. ............. $ Bank debits (thousands) ··-··············· $ End-of-month deposits (thousands ) t ......... $ Annual rate of deposit turnover ........... + 67t + 9t 6,004 8,200 4.184 6,269 9.6 +101 + 6 + 24 -49 6 1 3 + + -+ -+ 8 6 4 69 6 10 16 $ $ $ $ 62,472 296,839 63,316 6,106 10.4 $ $ $ $ 62,211 911,713 66,476 6,384 10.3 -+ -+ 8 8 •• 68 4 6 LONGVIEW (pop. 40,050) Retail sales ··················-·······-··-···-···-······························ + 26t + 43 - 13 - 12 Lumber, building material, and hardware stores -----------·····-·-·--········-··· ..t - 6 - 29 - 29 Postal receipts• ........................................... $ 68,116 + 32 + 22 $ 686,367 $ 517,969 + 13 Building permits, less federal contracts ................ $ 387,600 - 34 - 6 $ 7,650,234 $ 8,349,902 - 10 Bank debits (thousands) ·························· ········ $ End-of-month deposits (thousands) t ...................... $ Annual rate of dep08it turnover ·· ···· ························ Employment (area) ··········--------····· Manufacturing employment (area) Percent unemployed (area) 47,146 36,807 16.8 28,860 5,400 4.9 + + + 12 •••• 2 2 + -+ + + + 12 8 18 2 7 48 $ $ 619,410 84,947 14.9 28,360 6,188 4.2 $ $ 608,360 36,929 13.6 27,804 4,902 4.0 + -+ + + + 2 5 10 6 LOWER RIO GRANDE VALLEY (pop. 352,086) (Cameron, Willacy, and Hidalgo Counties) Retail sales ·························-·······-············-··················--· + 25t + 21 + 6 ' Apparel stores ·······­·····-···········-··········-----­----······· Automotive stores ···································­·---·····--· Department and apparel stores ........................ Filling stations .......................•............................. + 67t + 9t + 46t + St + 96 + 6 + 47 + 32 + 9 + 11 -3 + 22 + 7 5 •• Food stores ··························-··-···-··················--·---­ + 9t + 19 + 6 Furniture and household appliance stores ··············-·····-----·······-····-·-··­ + 29t + 41 + 6 4 General merchandise stores ................................ + 69t + 72 + 3 Liquor stores ··················-·································-··· Lumber, building material, + 38 -10 + and hardware stores .................... ..t •• -22 - 10 Postal receipts• Building permits, less federal contracts . Bank debits (thousands) ············· ···-·······-········· -End-of-month deposits (thousands) t ·--·-·········-····· Annual rate of deposit turnover 16.6 + 22 +270.. + 3.. + 7 +213 •• 3 + 4 + + - 3 46 •• 3 LOS FRESNOS (pop. 1,289) Postal receipts• ···········-············-····· ··························· $ Building permits, less federal contracts ................ $ 2,391 10,600 +113 + 12 + 5 $ 14,665 16,708 - 7 Bank debits (thousands) ......... ································ $ End-of-month deposits (thousands) t .................... $ Annual rate of deposit turnover ······························ 1,061 1,348 9.2 + + 6 5 7 --- 22 16 9 $ $ 18,928 l,369 13.7 22,610 l,714 12.8 --+ 16 20 7 TEXAS BUSINESS REVIEW Percent change Percent change City and item Dec 1960 Dec 1960 from Nov 1960 Dec 1960 from Dec 1959 Jan-Dec 1960 Jan-Dec 1959 Jan-Dec 1960 from Jan-Dec 1959 LUBBOCK (pop. 128,691) Retail sales ···-·--· --···--·-··········-· Automotive stores . + ~ - 3 + 11 - 11 Furniture and household appliance stores . ····· ··········· ··· ·· ··· ··············· + 29t + 61 - 10 - 3 Postal receipts• ...... ... $ 214,898 + 22 + 16 $ 1,989,829 $ 1,850,702 + 8 Building permits, less federal contracts .. $ l,596,350 - 37 - 31 $ 86,868,487 $ 53,600,572 - Sl Bank debits (thousands) . $ 306,169 + 25 + ~ $ 2,585,722 $ 2,450,732 + 6 End-of-month deposits (thousands) t $ 126,682 + 9 - 6 $ 113,846 $ 116,508 2 Annual rate of deposit turnover ­--­---· ···--·­···· Employment (area) ·····­············-·­ 80.2 54,500 + 14 •• + 10 •• 22.5 53,833 21.0 51,417 + + 7 5 Manufacturing employment (area) ...... 5,340 4 - 4. 5,491 5,410 + Percent unemployed (area) ·····---·-· S.6 + 6 + 88 8.6 3.7 8 LUFKIN (pop. 17,641) Postal receipts• .... .... ... ... ...... ..... $ 28,454 + 4 - 11 $ 278;775 $ 267,410 + 4 Building permits, less federal contracts ········· $ 411,400 +1089 + 62 Bank debits (thousands) . ······· ····· ·-··········· ......... $ 26,797 + 23 - 8 $ 291.157 $ 287,840 + 1 End-of-month deposits (thousands) t -· . $ 27,466 + 7 + 6 $ 24,325 $ 24,809 2 Annual rate of depOBit turnover ...... 12.1 + 16 - 12 12.0 11.6 + s McALLEN (pop. 32,728) Retail sales ·· ······-···-·······-·············· + 25t + 81 + 14 + Apparel stores .... ············-·········---------····· + 67t + 94 + 15 + 10 Automotive stores ............... ·--------­----·-·····---·-···· + 9t + 4 + 19 + 4 Postal receipta• --­-·-----------­----·­-·-----­·· ...... $ 41,417 + 30 + 7 $ 355,741 $ 389,511 + 5 Building permita, less federal contracts ····-· · $ 170,335 - 12 - 38 $ 4,288,180 $ 5,614,905 - 24 Bank debits (thousands) ········-··· ···················· .... $ 27,254 + 13 + 1 $ 323,539 $ 317,670 + 2 End-of-month deposits (thonsands)t ·········--······-··­$ 20,291 + 11 - 8 $ 19,304 $ 21,588 - 11 Annual rate of deposit turnover 16.9 + 6 + 10 16.7 14.7 + 14 McKINNEY (pop. 13,763) Postal receipts• ............. ·········-­·-····-·-···· $ 16,260 + 22 + 18 $ 129,158 $ 115,766 + 12 Building permits, less federal contracts ... ...... $ 64,630 - 83 - 62 Bank debits (thousands) . ··································· $ 9,428 - 7 8 $ 119,817 $ 113,164 + 5 End-of-month deposits (thouaands)t ·················· ... $ 12,858 + 33 6 $ 11,317 $ 12,005 - 6 Annual rate of deposit turnover ........ 10.5 - 18 + 9 10.7 9.5 + IS .MARSHALL (pop. 23,846) Retail sales + 25t + 83 - 5 6 Apparel stores . + 67t + 60 -12 5 General merchandise stores ........ . + 59t +us - 1 g Postal receipts• .. .. $ 83,473 + 17 + 2 $ 319,602 $ 290,883 + 10 Buildin~ permits, less federal contracts . . $ 96,539 -35 -60 $ 2,523,708 $ 2,394,187 + 5 Bank debits (thousands) ......... ....... $ 17,366 + 12 $ 205,981 $ 200,238 + 8 End-of-month deposits (thousands) t ....... $ 20,562 + 3 $ 19,679 $ 20,817 5 Annual rate of deposit turnover ··­ 10.8 + 4 10.5 10.4. + 1 MERCEDES (pop. 10,943) Postal receipts• . ... . ...... ..... ............. . ..... $ 7,890 -11 - 20 $ 72,070 $ 72,020 .. Building permits, less federal contracts ............ $ 12,860 -34 - 25 $ 292,457 $ 193,988 + 51 Bank debita (thouaands) . $ 6,582 + 9 - 5 $ 74,965 $ 76,897 - 3 End-of-month depoeits (thousands)t .. $ 3,731 - 6 - 23 $ 3,946 $ 4,556 - 13 Annual rate of deposit turnover ..... 17. ~ + 12 + 15 18.8 17.0 + 11 MESQUITE (pop. 27,526) Postal receipts• ......... . $ 20,875 + 87 + 61 $ 129,551 $ 100,700 + 29 Building permits, less federal contracts .. $ l ,080,950 +155 + 32 $ 14,042,800 $ 16,912,788 - 17 Bank debits (thousands) . .. $ 4,849 -IS - 11 $ 64,963 $ 56,685 + 15 End-of-month deposits (thousands) t $ 5,275 7 - 5 $ 5,372 $ 4,808 + 12 Annual rate of deposit turnover ...... Employment (area) .... .... ... .. ... .... ....... Manufacturing employment (area) 10.6 440,800 93,475 -+ 9 .. -- 12 2.. 12.1 435,633 98,672 11.9 437,421 93,821 + 2.. •• Percent unemployed (area) ·············· ·········· 5.1 + 13 + 70 4.2 3.3 + 27 FEBRUARY 1961 Percent change Percent chance City and Item Dee 1960 Dec 1960 from Nov 1960 Dec 1960 from Dec 1959 Jan-Dec 1960 Jan-Dec 1959 Jan-Dec 1960 from Jan-Dec 1959 MIDLAND (pop. 62,625) $ 1,085,710 $ 992,125 Postal receipt!\* $ 147,238 + 96 + 3 + 4 -79 $ 19,741,870 $ 36,502,465 -46 Building permits, less federal contract• $ 358,975 -69 5 $ 1,231,745 $ 1,176,828 Bank debits (thousands) . $ 115,160 + 16 + 5 $ 93,058 $ 90,918 End-of-month deposits (thousands) l $ 99,838 + 8 + 2 + 2 -5 13.2 12.9 + 2 Annual rate of deposit turnover . 14.5 + 11 Employment (area) 53,100 •• Manufacturing employment (area) 2,810 •• Percent unemployed (area) 4.6 + 7 MISSION (pop. 14,081) Postal receipts• $ 14,169 + 37 + 5 $ 120,482 $ 117,205 + a Bank debits (thousands) . ..... $ 10,810 + 11 -7 $ 140,540 $ 183,838 + 5 End-of-month deposits (thousnnds) l .... $ 9,409 + 13 -12 $ 9,888 10,188 I • Annual rate of deposit turnover . 14.6 + 4 + 5 14.2 18.2 + MONAHANS (pop. 8,567) Postal receipts• $ 18,875 + 62 + 10 $ 107,154 $ 108,445 + 4 Building permits, le8B federal contracts ........ S 41,800 +117 -80 $ 1,()14,860 $ 2,051,96() -51 Bank debits (thousands) .... .. ... $ 9,567 + 8 8 $ 111,891 $ 128,927 -10 End-of-month deposits (thousands) l ............. . ... $ 8,058 + 8 3 $ 7,556 • 7,74Z 2 Annual rate of deposit turnover .............................. .. 14.8 1 4 14.8 16.0 - 7 MUENSTER (pop. l,190) Postal receipts• ............ $ 2,294 •• - 8 • 17,769 Building permits, less federal contracts 0 -100 $ 149,450 $ 122,950 + 22 Bank debits (thousands) ... ···­$ 1,899 + 6 + 10 $ 21,967 $ 21,582 + 2 End-of-month deposits (thousands) l .. .. $ 1,876 + 6 - 8 $ 1,881 $ 1,774 + a Annual rate of deposit turnover ............ . 12.5 + 6 + 18 12.0 12.8 2 NACOGDOCHES (pop. 12,674) Postal receipts• ············-····-············­ .. $ 19,821 + 7 + 10 $ 198,087 s 182,902. + 8 Building permits, leas federal contracts ....... .. $ 12,837 -40 -42 Bank debits (thousands) . ... $ 15,131 + 10 + 1() $ 173,118 s 170,131 + 2 End-of-month deposits (thousands) l ···········-········· $ 16,126 + 3 + $ 14,229 $ 15,058 Annual rate of deposit turnover .... 12.2 + 8 + 16 12.2 11.8 + NEW BRAUNFELS (pop. 15,631) Postal receipts• ...... .. .......... ............ . .. $ 26,405 + 6 -11 $ 234,98() s 228,()26 + 8 Building permits, less federal contracts . . $ 7,850 -96 -81 $ l,819,651 $ 1,468,481 + 24 Bank debits (thousands) End-of-month deposits (thousands) l ... Annual rate of depcsit turnover .. $ .. $ 12,090 10,703 18.2 + 22 -5 + 25 + 22 -12 + 82 ' $ 125,854 10,943 11.4 $ $ 124,085 11,648 10.8 + 1 6 + e ODESSA (pop. 80,338) Retail sales Furniture and household appliance stores ... . .................... . + 29t + 19 -26 -18 Poetal receipts• ............................ .............................. $ 102,032 + 24 + 9 $ 934,865 $ 929,485 + 1 Building permits, less federal contract.. ............... $ Bank debits (thousands) ................................. .......... $ 852,065 77,548 -56 + -79 -2 $ 14,689,266 $ 868,159 $ 28,881,504 $ 759,035 -49 + 14 End-of-month deposits (thousands) l ............ $ 78,865 + 8 + 6 $ 68,498 $ 52,727 + 20 Annual rate of depoeit turnover ·······-············· Employment (area) ................................................... . Manufacturing employment (area) ...... . 13.2 63,100 2,810 + •••• 13.7 Percent unemployed (area) ...... ............................. 4.6 + 7 ORANGE (pop. 25,605) Retail sales Apparel stores .............. ........ . + 67t + 87 - 9 •• Postal receipts• ........................... ......... $ Building permits, less federal contracts ........... S Bank debits (thousands) ........................ .......... ....... $ End-of-month deposits (thousands) t ................... $ Annual rate of depoeit turnover .......... . 38,105 313,720 31,136 21,758 17.4 + 83 + 72 + 16 + 3 + 14 + 15 + 67 + 23 + 1 + 25 $ $ $ $ 805,432 3,805,687 800,721 20,688 14.7 $ $ $ s 293,579 6,766,558 266,074 21,190 12.6 + -44 + 18 -8 + 17 Employment (area) Manufacturing employment (area) Percent unemployed (area) .... 106,900 33,580 6.8 + 1 1 + 8 + 1 + 3 -18 105,175 38,522 7.3 104,101 32,451 9.9 + 1 + 8 -26 TEXAS BUSINESS REVJEW Percent change Percent change City and item Dec 1960 Dec 1960 from Nov 1960 Dec 1960 from Dec 1969 Jan-Dec 1960 Jan-Dec 1959 Jan-Dec 1960 from Jan-Dec 1959 PALESTINE (pop. 13,974) Postal receipts• --------------···---·----············ ····· ··­·············· $ 26,319 + 73 + $ 171,912 $ 166,887 + 4 Building permits, J..,s federal contracts -----­----­-···· $ 134,072 9 $ 1,666,229 Bank debits (thousands) -·-······· --········-·-----------··-----···­$ 10,383 4 + 12 $ 120,624 $ 110,458 + 9 End-of-month deposits (thousands) t ··············-····· $ H ,321 + 1 - 3 $ 14,089 $ 13,872 + 2 Annual rate of deposit turnover ........................ 8.8 3 + 14 8.6 8.1 + 6 PAMPA (pop. 24,664) Retail sal.., .................................................................... Automotive stores ········----··-·--···-·····--····-········­····· + 25t + 9t + 9 7 - 12 •• -- 9 14 Eating and drinking places ···-·······-······--···------­ + 6t 2 - 18 - 7 Fiiiing stations ·--······-···········-----------······-·······-······· + St + - 10 •• Food stor.., -----­-------··-···········-·········-······--·············· + 9t + 8 + 1 + 8 Lumber, building material, hardware stores ··----­----­------------­---­---­--------­- ••t + 9 - 50 - 16 Postal receipts• ·---·--············-·········---------------­-$ 38,144 + 19 + 4 $ 316,666 $ 301,317 + 6 Building permits, 1...s federal contracts ................ $ 107,360 + 23 - 66 $ 3,647,607 $ 6,600,034 - 66 Bank debits (thousands) ···················----····-----···-·-····-· $ 26,706 + 12 + 6 s 273,902 $ 268,432 + 2 End-of-month deposits (thousands) i ····---···········-· $ 22,761 - 11 - 11 $ 23,884 $ 24,383 2 Annual rate of deposit turnover .............................. 12.8 + 19 + 10 11.4 11.1 + 8 PARIS (pop. 20,977) Retail sal.., ----··--­---···--------·-------·---­-·------------·----------------­Automotive stores ·············-·--·····­······­·····--·····-···-· + 26t + 9t + 61 + 46 + 6 •• 8 4 Food stores ---­···-·······-·····-----------------····-···-----··---···· + 9t + 14 + 3 2 Lumber, building material, and hardware stores ------·­---·--·----------------­ ••t + 37 - 14 - 12 Postal receipts• ·····················--·-····--········----··-----·-···--··· $ 26,647 + 16 + 8 $ 262,008 s 242,084 + 4 Building permits, less federal contracts --·--------·-­$ 663,037 +228 + 63 s 2,690,090 $ 2,811,286 8 Bank debits (thousands) ............................................ $ End-of-month deposits (thousands) ·i ----·---------­$ 16,886 16,768 + .. -+ 6 14 $ 193,142 $ 13,731 $ $ 196,548 13,475 + 2 Annual rate of deposit turnover ······--················-····· 12.9 + 2 - 18 14.2 14.6 2 PASADENA (pop. 58,737) Postal receipts* -------------------------·---·-·····-······················­$ 66,926 + 70 - 4 $ 471,516 $ 471,289 •• Building permits, J..,s federal contracts ···----···­····· $ 326,860 - 42 - 69 s 10,828,179 Employment (area) --······-············-·-······················-··· 514,600 + 1 + 8 600,633 481,367 + 4 Manufacturing employment (area) ................ 92,376 2 - 2 94,892 93,692 + Percent unemployed (area) ---···--···--······-············-··· 6.0 + 6 + 26 4.6 4.7 4 PHARR (pop. 14,106) Postal receipts• ............................................ ·-·······-······ $ 16,943 +144 + 34 $ 87,260 $ 80,782 + 8 Building permits, J..,s federal contracts -·····--··-····· $ 32,416 -71 Bank debits (thousands) ............................................ $ S,981 + 3 - 10 $ 60,866 $ 64,838 7 End-of-month deposits (thousandsJi ·····-···-········-­$ 4,057 + 6 4 $ 4,134 $ 4,456 7 Annual rate of deposit turnover .............................. 12.1 2 - 8 12.3 12.2 + PLAINVIEW (pop. 18,735) Retail sales Apparel stores ····---·· ·--· ···­·­· ····-··--··--·--····· Postal receipts* ··········-··· ···· ······· $ Building permits, less federal contracts -·-·· ·­·---···· $ Bank debits (thousands) ·--··· ··········--·­-···-·····--··-­---···· $ End-of-month deposits (thousandsJi ··--····-··········· $ Annual rate of deposit turnover ··········--·---·········-···· + 67t 33,014 56,800 65,709 27,670 26.3 + + -+ + + 77 62 90 26 10 11 -+ -+ + 6 13 73 3 4 5 $ $ $ 261,609 403,18' 23,184 17.2 $ $ $ 240,946 866,460 23,662 15.0 -+ + -+ 4 9 13 2 15 PORT ARTHUR (pop. 66,676) Retail sal.., ·-··········-····--·-·-·-···-------····-··--­-·········-·····--···· + 26t + 23 - 9 7 Automotive stor.., ····­-··········---­---·-··----····-····-··· + 9t -20 - 17 3 Furniture and household appliance stor.., ··----···--···········--· ················--· + 29t + 45 - 7 - 10 Postal receipts* ··········--···· ······················· $ 96,827 + 43 + 3 $ 718,239 $ 710,769 + 1 Building permits, less federal contracts ·-­---·········· $ 9,260 -96 - 96 $ 6,493,611 $ 6,087,639 + 7 Bank debits (thousands) -···-···­------··--·-----···----­··----····­$ 66,473 + 9 8 $ 766,405 $ 761,796 + 1 End-of-month deposits (thousands) t ···--····--···---··· $ 41,972 - 7 8 $ 46,724 $ 44,172 3 Annual rate of deposit turnover .............................. 18.4 + 11 6 18.0 17.2 + 5 Employment (area) ·--···----·····-············-·····---·-··· 106,900 + 1 + 105,175 104,101 + Manufacturing employment (area) ·······-·······­ 33,630 33,622 32,451 + 3 Percent nnemployed (area) ·---······--·······-·······-······ 6.8 + 3 - 18 7.3 9.9 - 26 FEBRUARY 1961 Percent change Percent change City and item Dec 1960 Dec 1960 from Nov 1960 Dec 1960 from Dec 1959 Jan-Dec 1960 Jan-Dec 1959 Jan-Dec 1960 from Jan-Dec 1959 PORT ISABEL (pop. 3,575) Postal recelpts• $ 3,959 +102 + 11 $ 29,449 $ 26,849 + 10 Building permits, less federal contracts . $ 5,500 -59 $ 381,720 $ 180,595 +tu Bank debits (thousands ) ·······························--­····-· $ 496 - 5 End-of-month deposits (thousands) t ........ .. ..... $ 523 - 6 Annual rate of deposit turnover 11.l -12 RAYMONDVILLE (pop. 9,385) Retail sales ·········· ----················-···-·----·--·­ Lumber, building material, and hardware stores .... ••t - 14 - 7 -27 Pootal receipts• ... s 9,879 + 50 + 8 $ 82,734 $ 80,775 + 2 Bullding permits, le•s federal contracts ................. s 17,300 - 48 - 22 $ 234,534 $ 571,175 -5& Bank debits (thousands) . . $ 5,795 8 - s $ 101.477 $ 112,591 -10 End-of-month deposits (thou•ands)t .. $ 7,681 8 - 13 $ 8,003 $ 8,807 9 Annual rate of deposit turnover 9.0 4 + 18 12..4 12.7 -2 RICHARDSON (pop. 16,810) Postal receipts• . ·········­················· ....... $ 88,508 + 63 + 7R $ 242,021 $ 149,475 + 62 Building permits, lees federal contract& .. $ 1,264,200 + 4 + 20 $ 19,035,983 $ 17,190,817 + 11 Jlank debits ( thousands) ..... .,. ..... ....... .... $ 8,670 - 9 + 4 $ 103,276 $ 98,052 +u End-of-month deposits (thousands)l .. $ 7,010 + 41 + 58 $ 5,365 $ 4,802 + 25 Annual rate of deposit turnover . Employment (area) --­---····--­--­---­····················-· Manufacturing employment (area) Percent unemployed (area) ............... 17.4 440,800 93,475 IU -+ + 15 1 •• 18 -21 -2 •• + 70 19.7 435,633 93,67Z 4.2 19.9 437,421 98,821 8.8 -1 •••• + 27 ROCKDALE (pop. 4,481) P06tal receipts• . ·············-····---·-············--···· ····-$ 9,045 + 88 + 39 $ 57,898 $ 51,004 + 18Building permits, less federal contracts ..... .......... $ 5,060 -74. +120 $ 839,164 $ 139,248 +144 Bank debits (thousands) ............ $ 8,998 + 5 + 5 $ 47,172 $ 42,988 + 10 End-of-month deposits (thousandsH .... $ 5,692 + 2 + 5 $ 5,503 $ 5,349 + 8 Annual rate of deposit turnover 8.5 4 + •• 8.6 8.1 + 6 SAN ANGELO (pop. 58,815) Postal receipts• -----·-·····························..-$ 106,371 + 58 + 7 $ 985,018 $ 878,280 + 7Building permits, less federal contracts ... ············ $ 247,246 -21 -89 $ 7,104,579 4,822,209 $ + 47 Bank debits ( th<>usands) . .......... $ 58,278 + 4 -1 $ 640,720 $ 649,948 1 End-of-month deposits (thousands) t $ 47,298 1 •• $ 46,155 $ 45,768 + 1 Annual rate of deposit turnover 13.4 8 + -4 18.9 14.2 2 Employment (area) ·············-·--··--·-··· 20,400 + -14 21,608 28,100 Manufacturing employment (area) 3,040 •• 6 -8,1~8 8,170 + 1 Percent unemployed (area) .................... 5.3 -2 + 20 5.8 4.9 + 8 SAN ANTONIO (pop. 587,718) Retail stores ······ ··· ···-···-· ···········--··--·-­Apparel stores . Automotive stores Drug stores ·-·-·-·······----······-····-· .. ····-·­Eating and drinking places -· -··········-············· Filling stations ......... Florist• .... Furniture and household + 26t + 44t + 6t + 85t + 6t + St + 22 + 58 + 8 + 35 + 1' -9 +129 + 2 -8 + 30 8 6 2 I! -7 -s -11 + -7 + 3 •• appliance stores . General m~rchandise stores Lumber, building material, + 32.t + 48t + + 17 62 -16 + 7 -13 -' and hardware stores . P06tal receipts• $ Building permits, less federal contracts .... $ Bank debits (thousands) ............ $ End-of-month dep06its (thousands) t ................ . $ Annual rate of deposit turnover .. Employment (area) --·­Manufacturing employment (area) . Percent unemployed (area) ................... -5t 925,795 5,104,768 623,852 882.,217 19.7 207,100 24,575 4.4 -19 + 18 + 67 + 9 + 1 + 8 + 2 + 7 -80 + 13 5 4 + 8 6 + 8 + 88 $ 8,826,899 $ 57,957,678 $ 7,220,697 $ 869,409 19.2 208,588 25,015 4.1 $ 8,876,990 $ 60,806,987 $ 7,223,289 $ 887,942 18.6 200,571 25,008 8.6 -21 + 6 -4 •• 5 + 8 + 2 •• + 17 28 TEXAS BUSINESS REVIEW Percent change Percent change City and item Dec 1960 Dec 1960 from Nov 1960 Dec 1960 from Dec 1959 Jan-Dec 1960 Jan-Dec 1959 Jan-Dec 1960 from Jan-Dec 1959 SAN BENITO (pop.16,422) Retail sales ···--·-····­······-----·------······--··· ······ Automoti..e stores -----------------------­···----------------­ + 9t + 5 + 21 - 6 General merchandise stores ­---------­--­-----­-----------­ + 59t +104 - 5 + 7 Building permits, less federal contracts ____ ____ ________ $ 39,700 -65 $ 407,607 $ 529,235 -28 SAN JUAN (pop. 4,371) Postal receipts• ............ . ... $ 5,178 + 79 + 33 $ 81,419 Building permits, less federal contracts -----------­------$ 15,450 -32 $ 401,140 $ 332,475 + 21 Bank debits (thousands) .... ....................................... $ 1,725 -5 + 12 $ 23,430 $ 18,795 + 25 End--0f-month deposits (thousands ) i ·------------------­$ 2,184 + 4 + 86 $ 1,859 $ 1,581 + 18 Annual rate of deposit turnover ................. . 9.7 -10 + 29 13.0 12.3 + 6 SAN MARCOS (pop. 12,713) Poetal receipts• --------------------------­---------------­--------------$ 15,072 + 42 + 19 $ 128,089 $ 126,382 + Building permits, lees federal contracts --------------· $ 125,450 -41 $ 540,408 $ 1,382.875 -61 Bank debits (thousands) ---------------------·-------------­$ End--0f-month depoelta (thousanden -----­--·----­--­$ 6,468 7,886 + 8•• 3 8 $ $ 79,902 8,016 $ $ 89,738 8,869 -11 -10 Annual rate of deposit turnover ------------­----------­ 9.8 + 5 + 8 9.9 10.1 -2 SAN SABA (pop. 2,728) Poetal receipts• --------------------------------------·-··------S 4,611 + 47 + 16 $ 33,898 $ 32,505 + 4 Bank debits (thousands) --------------------------------$ 5,094 + 3 + 16 $ 47,565 $ 49,480 4 End--0f-month depoeita (thousands) i ----------------$ 4,935 + $ 4,587 $ 4,614 Annual rate of deposit turnover ----------------···------12.3 + + 15 10.4 10.7 SEGUIN (pop. 14,299) Poetal receipts• ----------------------------·-------------------------$ 17,013 Building permits, less federal contracts -----·--S 23,525 Bank debits (thousands) -------·-----------------------$ 10,072 End-of-month depoeits (thouaands) i ----------$ 13,655 Annual rate of depoeit turnover ---------------------· 8.8 + 40 -6 $ 144,468 $ 140,227 + 3 -66 -45 + 15 + 4 $ 108,745 $ 117,286 7 •• -5 $ 13,895 $ 14,495 4 + 19 + 10 7.8 8.1 4 SHERMAN (pop. 24,988) Retail ealee -·-----·----------------------·-------------·---·-····--·--· + 25 t + 38 + 3 -7 Apparel stores ----------------------------------------------------­+ 67t + 96 -6 -6 Automotive stores -----------------------····---------·---·· + 9t + + 23 -10 Lumber, building material, and hardware stores -----·----------------·--------· ••t + 69 + 3 -15 Poetal receipts• -----------------------------------------·----------------$ 40,575 + 12 + 4 $ 377,949 872,200 + 2 Building permits, Iese federal contracts --------------$ 409,85% + 84 -32 Bank debits (thousands) --------------------------------------$ 26,606 + 3 + 2 $ 303,439 End-of-month depoeita (thousands) i --------------·---$ 19,179 + 4 7 $ 18,108 Annual rate of depoeit turnover ----------------------------·-17.0 .. + 9 16.7 SLATON (pop. 6,568) + 104 $ 49,097 $ 48,567 Poetal receipts• ---------------·---------------------------------------$ 7,686 + 9 + 1 Building permits, Iese federal contracts --------------$ 35,840 -86 -72 $ 957,960 $ 809,450 + 18 Bank debits (thousands) ---------··--------·-·-----·· $ 4,856 + 17 + 14 $ 41,081 $ 39,922 + 8 End-of-month deposits (thousands) i ---------·· $ 4,707 + 19 -8 $ 4,076 $ 4,432 -8 Annual rate of deposit turnover ------------------------13.5 + 3 + 27 9.0 + 12 10.l Employment (area) -------------------------·--------------------54,500 •• •• 58,833 51,417 + 5 Manufacturing employment (area) ------------·· 5,340 4 -4 5,491 5,410 + 1 Percent unemployed (area) ---------------------------------· 8.6 + 6 + 38 3.6 3.7 3 SMITHVILLE (pop. 2,933) 3,444 + 50 + 2 $ 28,186 Postal receipts• --------------------------------------------------··-· $ Building permits, lees federal contracts -------------·-$ 30,725 $ 221 ,785 Bank debita (thousands) -------------------------------------$ l ,203 + 14 -14 $ 14,152 $ 14,184 •• End-of-month depoeits (thousands) i --------·----$ 2,320 + 3 -8 $ 2,261 $ 2,393 6 Annual rate of deposit turnover -------------------·····-· 6.3 + 13 -10 6.2 5.9 + 5 SNYDER (pop. 13,850) 24,531 + 153 + 9 $ 156,831 $ 139,052 + 13 Postal receipts• --------------------------------------------------------$ Building permits, less federal contracts ----------------$ 68,600 -81 -8 $ 2,553,568 $ 2,551,020 •• Bank debits (thousands) -----------------------------------$ + 18,116 -11 $ 177,633 $ 188,034 -6 End-of-month deposits (thousands) i ----------------$ 19,746 + 4 + 34 $ 17,881 $ 16,541 + 8 Annual rate of deposit turnover ------------··-------------11.2 3 -33 10.0 11.5 -13 SULPHUR SPRINGS (pop. 9,160) Postal receipts• ............... -----------····----------------$ 12,666 + 42 + 1 $ 109,908 $ 109,741 •• Bank debits (thousands) ---------------------------------------$ 10,288 + 3 + 3 $ 113,202 $ 117,451 -4 End-of-month deposits (thousands) i --------------------$ 12,632 2 3 $ 12,331 $ 12,297 •• Annual rate of deposit turnover ----------------------------9.7 + 3 + 5 9.2 9.6 -4 FEBRUARY 1961 Percent change Percent cha.nee City and item Dec 1960 Dec 1960 from Nov 1960 Dec 1960 from Dec 1959 Jan-Dec 1960 Jan-Dec 1959 Jan-Dec 1960 from Jan-Dec 19H SWEETWATER (pop. 13,914) Postal receipts• -··· --------------------------­----­------­-------­$ 24,013 +106 + 20 $ 178,995 $ 156,798 + 14 Building permits, less federal contracts -­$ 86,965 + 20 -68 $ 1,541,845 $ 2,247,410 - 81 Bank debits (thousa.nde) --------------------------------­$ 15,328 5 + 5 $ 144,311 $ 147,188 - 2 End-of-month depoeits (thousa.nde) i --------------------$ 11,510 + 6 - 5 $ 10,514 $ 11,702 - 10 Annual rate of deposit turnover __ --------------­---­ 16.5 7 -113 18.6 12.6 + 8 TAYLOR (pop. 9,434) Reta.ii sales Automotive stores ····················­--·············-··-········ + 9t + 8 - 11 6 Drug stores ·················· ····························­ + 45t + 54 - 5 2 Postal receipts• ···················· ··--·-·········--· --------­---------­$ 11,895 + 31 - 6 $ 107,410 $ 112,278 4 Building permits, less federal contracts --­-----­------­$ 42,075 + 45 + 98 $ 645,704 $ 543,181 + 19 Bank debits (thousa.nde) ------­$ 6,711 3 - 16 $ 94,275 $ 97,537 - 8 End-of-month depoeits (thousands) i -­$ Annua.l rate of depoeit turnover ____ ----------­---------­ 13,658 6.1 + 8 5 - 7 8 $ 12,814 7.3 $ 13,402 7.3 - 4•• TEMPLE (pop. 30,419) Reta.ii sales _ ··-······ ·· ················ ··················· + 25t + 47 4 Apparel stores ························-··· ······--·----······· + 67t + 84 + 5 Drug stores -----­ + 45t + 48 6 + 6 . Furniture and household appliance stores . + 29t + 58 -11> 5 Lumber, building material, and hardware stores ························ ••t -10 -20 5 Postal receipts• ··················· ------­--------­ -­ -­ $ 51,765 + so + 15 $ 470,955 $ 440,844 + 7 Building permits, less federal contract.. ............. --­ $ 294,340 -19 + 61 $ 3,863,057 $ S,176,742 + 22 Bank debits (thousands) ·············-····· $ 23.558 + 1 + $ 283,632 $ 278,959 + 2 TEXARKANA, TEX. (pop. 30,218) Reta.ii sales ··················· Apparel stores ____ + 67t +102 + 14 + 1 Postal receipts*§ _ -. ·­----­Building permits, less federal contractsH --$ -· ---·· $ 77,150 95,706 + 34 -92 + - 8 48 $ $ 694,313 3,126,859 $ $ 672,986 2,757,187 + 8 + 18 Bank debits (thousands) End-of-month dei>osits (thousands)•§ ____ Annual rate of deposit turnover ... Employment (area.) ................... Manufacturing employment (area.) Percent unemployed (area) -­ $ $ 51,048 17 ,251 16.1 29,150 3,670 8.1 1 + 1 + 4 •• 3 + 7 -+ --+ + 1 5 12 2 2 17 $ $ 603,676 16,755 16.5 29,275 3,818 7.6 $ $ 576,950 16,195 16.S 29,142 3,689 7.2 + 5 + 8 + •• + 4 + 6 TEXAS CITY (pop. 32,065) Reta.ii sales ············ ··················· Lumber, building ma.teria.l, and hardware stores . Postal receipts• .................._ --­$ Building permits, less federal contracts . $ Bank debits (thousands) .......... ................................. $ End-of-month deposits (thousa.nds)t ____ . $ Annua.l rate of deposit turnover ---------­Employment (area) Manufacturing employment (area) .. Percent unemployed (area.) ......... ••t 84,898 254,580 21,265 12,279 21.8 53,400 10,780 5.5 -+ -+ + + + + 4 70 20 9 10 4 1 4 -+ --+ -+ + 5 17 86 5 9 10 7 9 8 $ $ $ $ 280,657 5,125,288 248,771 11,441> 21.4 51,283 10,841 6.2 $ $ $ $ 270,276 4,911,925 254,857 11,686 21.8 49,812 10,410 7.8 -19 + '+ 4 4 11 2 + 4 + 4 -15 TYLER (pop. 51,230) Reta.ii sa.les + 25t + 8 2 6 Automotive stores ··················· + 9t -7 + 2 Florists _ + 67 1 Postal receipts• ........... ................. ..... .... s 134,440 + 57 8 $ 1,065,187 s l.G73.718 1Building permits, less federal contracts . $ 1i51,042 + 57 64+ $ 7,096,291 $ 9,885,208 -28 Bank debit.. (thousands) ----------$ 82,524 1 6 $ 1,010,881 $ 1.048,640 s End-of-month deposits (thousandsH $ 61,557 + 8 4 $ 52,487 $ 61,150 4 Annual rate of deposit turnover .. . 16.7 8 3 17.S 17.0 + 2 VERNON (pop. 12,141) Postal receipts• . $ 20,983 + 66 + 17 $ 153,598 $ 144,229 + 6 Building permits, lees federal contracts $ 80,025 4 -+553 $ 1,140,207 $ 1,505,942 -24 Bank debits (thousands) . --·-$ 24,605 + 28 43 + $ 173,527 $ 159,622 + 9 End-of-month deposits (thousands) t ·--$ 20,738 + 8 2 + $ 19,052 $ 19,464 -2 Annual rate of deposit turnover . 14.8 + 23 + 42 9.1 8.2 + 11 TEXAS BUSINESS REVIEW Percent change Percent change City and Item Dec 1960 Dec 1960 from Nov 1960 Dec 1960 from Dec 1959 Jan-Dec 1960 Jan-Dec 1959 Jan-Dec 1960 from Jan-Dec 1959 VICTORIA (pop. 33,047) Retail sales .................................. -···.................. . + Ut + 18 + 7 + 2 Automotive stores ···············-···················· .......... . + 9t + 4 + 9 1 Food stores ...................................... . + 9t + 1' + 10 + 5 Furniture and household appliance stores ···--····-··········· + 29t + 81 - 1 Lumber, building material, and hardware &tores ·······················-············· Poetal receipts• .................................. .......................... $ Building permits, less federal contracts ................. $ Bank debits (thousands) ·······································-·· S End-of-month deposits (thousands) t ... $ Annual rate of deposit turnover ..t 47,912 192,130 66,220 79,688 8.4. + 14 + 28 -48 + 6 + 2 + 2 + 12 + 14 +124 + 2 + 11 -6 • 428,126 $ 8,061,568• 607,150• 73,067 8.4 $ 400,654 $ 620,184 $ 72,868 8.6 + + + 16 6 2 1 WACO (pop. 97,808) Retail aalestt .. ········­ + 25t + 63 8 + 1 Furniture and houaehold appliance storestt ···················-··············-··· + 29t + 18 8 - 10 Apparel storestt ·······-·········-······························ + 67t +106 6 8 Lumber, building material, and hardware storestt ··········-···················· ..t -26 -24 + 7 Postal receipts• ········-·······-···················· ·······-·····-··-· $ 204,363 + 18 -11 $ 2,020,018 s 1.867,132 + 9 Bulldlna: permits, less federal contracts ·····-····--··-·· $ 702,800 -42 1 $ 16,648,186 $ 17,012,541 a Bank debits (thousands) ···-········-········-········-····· $ 110,730 + 8 s $ 1,282,783 $ l,808,217 2 End-of-month depoeits (thou•ands H ··············-······ $ 72,397 + 2 + 1 $ 68,449 $ 69,126 1 Annual rate of deposit turnover ........ ····--··-·······--···· Employment (area) ··-···········-·--···-···········---·-·-··-··-···· :Manufacturing employment (area) ................ . 18.5 48,760 9,940 + 7 + 1 ~ •• + 2 18.7 48,129 10,094 18.9 47,571 10,102 + •• Percent unemployed (area) ·--·-···---·---··-···--··-·---·­ 5.8 + 15 + 23 5.0 4.7 + 6 WAXAHACHIE (pop. 12,749) Postal receipt.!• ....... ........................... ··-··----· $ 16,404 -24 •• $ 197,212 $ 144,139 + 87 Building permits, less federal contracts ········-··-······ $ 290,780 +s6o +144 $ 1,287.194 $ 1,181,856 + 6 Bank debits (thousands) ................................ -········· S 8.276 7 -24 105,929 $ 112,696 -6 • End-of-month depoBit8 (thouBands)t ..... . . . $ 8,974 5 -29 $ 10,619 11,956$ -11 Annual rate of deposit turnover .......................... . 10.8 8 + 8 9.9 WEATHERFORD (pop. 9,759) Postal receipts• ··--···-·············-····-·-·-·······­--···--·······-·--· $ 16,076 + 38 + 11 $ 130,725 $ 124,904 + 5 Bulldlnc permits, less federal contract.! ·-·-·········-· $ 37,300 + 27 - 53 $ 686,838 $ 1,476,608 - 63 End-of-month depoelts (thousands) : --··--·-·······-·--· $ 15,782 + 12 $ 15,149 WESLACO (pop. 15,649) Retail ea!.. Automotive stores --·---······-·---··-·--------·-··· Postal receipt.!• -------·--··--·-····-···········----·-----·-··-··-···--·· $ Bulldina: permits, leas federal contracts --·····-··-·-·· $ Bank debits (thousands) -···-·-·-··········-···---·········-······· $ End-of-month deposits (thousands) i ····----···---·····-S Annual rate of depoeit turnover ·--·····-··-····---·-····-·-· + 9t 14,586 54,969 7,526 6,412 14.2 + 65 + 48 -9 + 86 + + 37 + 19 + 24 $ 117,561 • 2.219,060 + 81 87,120 • + 24 $ 5,984 + 4 14.1 • 111,088 $ 1,120,295 $ 77,543 $ 4,878 15.8 + 6 + 98 + 12 + 23 -11 WICmTA FALLS (pop. 101,724) Retail sales ·····--·-·····················--····-·--·--··---····-······--·-···· + 25t + 47 + 8 + ' Apparel stores ·-···-··--·--·-····-·············-··­--····-·-·····-· Automotive stores ······-····------··········---············-··-·­Department and apparel stores ··-·-·-··-­··········--· + 67t + 9t + 45t + 70 +109 + 26 + + 5 •• + + ' Furniture and household appliance stores ····--·······--··-·-·-··········---­·-·---­ + 29t + 4 -10 + Lumber, buildina: materiala, and hardware stores ···-­··-·-·----·-··---··------····· Poetal receipts• ·--···--·-··---··----············--·-·-·-··-··­·-·······-·· S Building permits, less federal contracts ................ $ Bank debits (thousands) ···-··-·····-···--····---···--····-······· $ End-of-month deposits (thousands) i --·····-··-·-··-··-· $ Annual rate of depoeit turnover ----------­-·-··············· Employment (area) ···-··---·--·-·-····-·····-------··-·-­-········-­Manufacturing employment (area) ·-·········-···· Percent unemployed (area) ........................ . ..t 189,655 874,976 126,263 105,120 15.0 42,460 3,680 6.7 + 47 + 56 -66 + 12 + 9 + 7•••• + 12 -14 + 6 + 25 -4 -13 + 8 + 2 -4 + 16 •1,421,690 $ 28,292,908 • l,406,894 $ 99.296 13.7 41,667 3,697 5.4 $ 1,185,559 $ 13,635,091 • l ,443,680 $ 106,313 13.6 40,696 3,691 3.9 s + 20 +108 s 7 + + 2 •• + 88 BAROMETERS OF TEXAS BUSINESS All figures are for Texas unless otherwise indicated. All indexes are based on the average months for 1947-49, except where indicated: all are adjusted for seasonal variation, except annual indexes. Employment estimates are Texas Employment Commission data in co­operation with the Bureau of Labor Statistics. The index of Texas Business Activity is based on bank debits in 20 cities, adjusted for price level. An asterisk ( •) indicates preliminary data subject to revision. Revised data are marked (r). Year-to-date avera11e Dec Nov Dec 1960 1960 1959 1960 1959 GENERAL BUSINESS ACTIVITY Texas business activity, index.... ... ........... .......................................... . 226 226 223 226 218 Miscellaneous freight carloadings in SW District, index ...... ............................. . 71 74 76 78 81 Ordinary life insurance sales, index ...... .. .. ......................................... . 423 453 457 416 409 Wholesale prices in U.S., unadjusted index ................................ ........................ . 119.5 119.6 118.9 119.5 119.4 Consumers' prices in Houston, unadjusted index ............... ...... .......... ................. . 126.4 125.8 124.5 Consumers' prices in U.S., unadjusted index ............... ............ ........................... . 127.5 127.4 125.5 126.5 124.6 Incsme payments to individuals in U.S. (billions, at seasonally adjusted annual rate) .... ............ ...... .......... ...... ............................................... . $ 409.5 $ 393.9r s 383.3r Business failures (number) ............... ................. ....... ............... ............................. . 47 53 52 43 36 Newspaper lineage, index ........................... .. ...... ........... ............ ...................... ...... . 166.8 169.8 174.1 172.8 176.7 TRADE Total retail sales, index .. ............. ........... ............................................................... . 233" 234r 243r Durable-goods a tores ···· ···· ···············-······················-····················-·················· Nondurable-goods stores ...................... ....... ................................................... 156" 274" 166r 269r 156r 288r ..... Ratio of credit sales to net sales in department and apparel stores .................... 70.6" 65.7" 69.8r 69.7" 68.8r Ratio of collections to outstandings in department and apparel stores ............ . 37.6" 35.4" 38.7r 35.7" 37.lr PRODUCTION Total electric power consumption, index ...... .......................................... ............. . 377• 396" 368r 405• 377r Industrial electric power consumption, index ............. ... ............................ ........ . . Crude oil production, index .............. ..................................................................... . . 366" 113• 386" 106. 378r 115 389" 109 373r 115 Crude oil runs to stills, index ... ..... ................ ......................... ............................. .. . . 144 145 145 147 143 Average daily production per oil well (bbls) ....... ... ......................................... 13.2 12.5 13.7 13.0 14.0 Gasoline consumption, index ············ ···················--·-·······················­··········-···-··· Industrial production in U.S., index .......... .............. ... .. ... ........... ................. ... ...... . 156 180 159 172 165 164 178 159 Southern pine production, index .. ................... -........ .. .......................................... . 78 83 85 Cottonseed crushed, index ... ......... .............. ........... .... .................... ............. ......... .... 138 153 152 Construction authorized, index ............................... ..... ........................................... 234 200 246 233 245 Residential building ... .................. ............. ..................................................... . 178 198 228 211 268 Nonresidential building ..... ...... ............ ................................................. ....... . 313 209 278 272 226 Texas industrial production-total index ............................... ............................. . 172 171 171 173 170 Texas industrial production-manufacturing index ............................... ............. 212 215 209 216 207 Texas industrial production-durable goods, index ........ ...... ............. ............. ... . 243 251 241 249 242 Texas industrial production-nondurable goods, index .. .. ...... ........... ............. .... 197 198 195 200 190 Texas mineral production, index ............................................ ............................... 133 129 135 131 135 AGRICULTURE Prices received by farmers, unadjusted index, 1910-14=100 .......... ..... .......... . 248 247 242 245 262 Prices paid by farmers in U.S., unadjusted index, 1910-14=100 ................... . 298 297 297 299 297 Ratio of Texas farm prices received to U.S. prices paid by farmers.................. . 83 83 83 82 88 FINANCE Bank debits, index .............. .............. ----································­·························-·· ······ Bank debits, U.S., index ............ .. .......................... ... ... ... ..................................... . 270 232 270 246 265 236 270 241 260 227 Reporting member banks, Dallas Reserve District: Loans (millions) .... ..... ... ....... .. ............. ..................... ... .. ............. ...... . . Loans and investments (millions) .. ....... ... ................. .. ............ .................. . Adjusted demand d~posits (millions) .. ...... ........................ .. ............ ....... . Revenue receipts of the State Comptroller (thousands) .......... .. ...... Federal Internal Revenue collections (thousands) ...... ....... ... ........... ............ . s $ s 3,038 4,793 2,801 $104,741 $124,319 s s s 2,935 4,652 2,725 $ 87,526 $298,436 s s s 2,943 4,613 2,815 Sl02,044 $118,382 s s s 2,895 4,551 2,675 $102,706 $252,031 s s s 2,837 4,526 2,756 s 98,201 $233,917 LABOR Total nonagricultural employment (thousands) .... ... ......... ... .... .. ... .................... . Total manufacturing employment (thousands) .............................. ........... . 2,533.5" 483.2" 2,515.5r 486.2r 2,534.5r 488.3r 2,505.3" 488.9" 2,476.3r 487.2r Durable-goods employment (thousands) . ..... ....................................... 227.5" 228.7r 233.6r 232.3" 234.0r Nondurable-goods employment (thousands) ........................... ........... . 255.7* 257.5r 254.7r 256.6" 253.2r TEXAS BUSINESS REVIEW