TEXAS BUSINESS REVIEW A Monthly Summary of Business and Economic Conditions in Texas BUREAU OF BUSINESS RESEARCH THE UNIVERSITY OF TEXAS VOL. XXXI, NO. 10 TWENTY CENTS A COPY-TWO DOLLARS A YEAR OCTOBER 1957 In these towers of the Texas Butadiene a,nd Chemical Corporation plant near Houston, butadiene is separated from its raw material and intermediate products; some of the towers prepare by-product streams for return to reactors and others purify butadiene to final specification. One among many, the pla,nt symbolizes the vitality of the Texas petrochemical industry. See page 6. The Business Situation in Texas By JOHN R. STOCKTON Business activity in Texas during August shows only a slight change from the level of July, but the over-all trend was apparently upward. Business analysts have been waiting for the opening of the fall business season to make final estimates of prospects for the remainder of the year. There is still a considerable amount of uncertainty in the air, but the statistical record continues to show activity at a very high level. The index of business activity in Texas, constructed by the Bureau of Business Research from the data on bank debits in Texas cities, has remained virtually horizontal throughout the first eight months of 1957. The August value of the index was 201, compared with an average of 198 for the year to date, a low of 185 in June, and a high of 203 in January. The August level of the index was 3% above a year ago but was the same as the 1956 high reached in May of that year. Throughout the summer attention was fixed on the prospect that business activity would resume its upward movement in the fall, but with the end of summer there is little evidence in the record of Texas business to support the conclusion that any substantial rise in activity will occur between the first of September and the end of the year. Expenditures of business concerns and the federal government show definite signs of weakening. Consumer expenditures for all kinds of goods, however, have continued strong in spite of predictions that the present rate of spending could not be sustained. The building outlook does not seem especially promising, although this is not uniform for all kinds of construction. The relative strength of each of these components of Texas business should be examined before risking any prediction as to the immediate outlook. Economy moves in Washington are beginning to make themselves felt in the Texas business picture. Income from government installations is an important part of the total income received by persons in the state. The closing of military installations and the cutback in contracts threaten to reduce the income of various communities. The most obvious effect of closing or curtailing the operations of an air base or army post is the reduction in direct income in the form of wages and purchases. Equally important to the business of the state is the loss of the indirect income that results from the respending of salaries and sales incomes. Individual areas are inevitably hurt by the cutback in military spending, and the effect is particularly acute when these cuts are made without warning. But there is no way this effect can be avoided if government expenditures are to be reduced, although there is valid ground for complain,. when no effort is made to minimize the effects on an area. An offset to the depressing effects of reduction in the spending of the federal government is the continued support state and local spending may he expected to lend to Texas Business Activity Index • Adiusted for seasonal variation • 1947-1949=100 250 250 . A. 200 200 !Nv rfvV NV - l~AiJ'-1' 150 ,,,. 150 rvJ" .,.. LJ VI" -.. v ~ .~ ~--"' 100 100 A~l/V""''(VI\) r"~r M v vr I-A-/ 50 50 0 0 1940 '41 '42 '43 '44 '.45 '46 '47 '48 '49 '50 '51 '52 '53 '54 '55 '56 '57 Bank debits in twenty major Texas cities adjusted for prices changes with the U.S. Wholesale Price Index. 2 TEXAS BUSINESS REVIEW business. The rapid rise in spending for roads, schools, hos in Texas would almost inevitably he slowed. Pes.5imistspitals, and all kinds of public buildings has a stimulating point to information suggesting that a considerable numbereffect on business activity. There are problems related to of industries are now operating at somewhat less than fullthis growing spending, such as the effect the growing tax capacity, which might serve as a reason for management to burden may have on business expansion in the state, but astake another look at expansion plans.suming that these problems can be worked out, the expandIndustrial power consumption in Texas is still the besting needs of the citizens of the state represent a stimulant measure of industrial activity, and for the first eight monthsto business activity. The steadily expanding expenditures of 1957 it was 13% above the same period of 1956. Howof state and local governmental units are much more stable ~ver, August consumption was only 1% above July, andstimulators to business than the somewhat erratic behavior m gei:eral there has been very little change during theof federal spending. first eight months of this year. The private sectors of the Texas business situation offer The volume of crude petroleum production in Texas hasmixed prospects for the remainder of 1957. Consumer continued to decline since March. Refinery operations, as spending has been above last year and has been a major measured by crude runs to stills, have been below the levelsupport to business activity. The spending of consumers of the corresponding months in 1956 since April. There isfor goods and services represents the largest single comlittle expectation that the oil industry will offer any subponent of Texas business activity. As long as consumers stantial stimulus to business activity during the remaindercontinue to buy an increasing volume of goods and servof 1957. In fact, predictions of the immediate future haveices, there is a strong likelihood that the general level of been very pessimistic.business will be reasonably good. August retail sales rose Building activity in Texas continued to show improve2% from July and 12% above a year ago. Some of this ment in August over a year ago, although a decline of 20%increase was undoubtedly due to the rise in the price level, was registered from July. However, this series is somewhatsince consumer prices rose 4% during the past year. How~rratic, and the trend is more important than the changesever, even after making allowances for higher prices the m one month. August represented the fifth consecutivevolume of business shows an increase. month that the value of construction authorized exceededSome of the increase in consumer spending resulted from that for the corresponding month a year ago, and authorian expansion of instalment credit, which rose 8% in volzations for the first eight months of 1957 were 9% aboveume outstanding between August 1, 1956, and August l, the same period last year. Residential building durinu 19571957. No figures are available on consumer credit for has failed to maintain the level of last year, hut so~e imTexas alone, but for the United States the volume of total provement is being shown. This sector of the economy ofconsumer credit outstanding has risen with few interrup· the state is extremely significant, and it has been holdingtions for more than two and one-half years. There is good up reasonably well, although it has not contributed muchreason to believe that the expansion of credit has been pro· to increasing the level of business.portionally as great in Texas as in the remainder of the Prices continue to climb, and both the consumer pricecountry, so this element has added purchasing power to index and the wholesale price index set new records inthe steadily growing income of the state. August. Some weakness has developed in the prices ofThe contribution of business expenditures for plant and basic raw materials, and such a situation has long beenequipment to the income of consumers in Texas has con· considered by forecasters as an indication of a downturntinued to be of strategic importance to business in the in industrial activity. However, the index of industrial prostate. The latest survey by the Securities and Exchange duction, according to preliminary estimates, remained unCommission and the Department of Commerce estimates changed in August at only slightly below the peak reachedthat the total expenditure of business concerns for new last winter. plant and equipment in the Unit~d.States in 1957 will to~l$37 billion an increase of $2 billion over 1956. Some m SELECTED BAROMETERS OF TEXAS BUSINESS dication or'the magnitude of this amount is shown by thefact that in 1950 total expenditures for new plant and (Adjusted for 1ee.aonal variati.on, 1947-49 = 100) equipment were $20.6 billion. The rapid industrial.izationof Texas has meant that a large share of these capital exPercent changependitures has been made in t}ie ~~te. This !ncome has Au~ 1957 Aug 1957 been a significant factor in m8:1~tamrng the h1~h l~vel of Aug July Aug from from Index 1957 1957 1956 July 1957 Aug 1956 consumer spending, both by ra1smg the per c_ap1ta mco!11e Texas business activity ·----· 201 200 195 + 1 + 8 of the state and by bringing about an increase rn population Miscellaneous freightas new jobs were created. carloadings in S.W. district.. 86 85 90 + 1 -4Some concern has been expressed over the fact that the Crude petroleum production __ 119 120 132 1 -10increase in capital spending for 1957 is estimated to b~ Crude oil runs to stills -------146 137 147 + 7 -1 considerably less than the increase registered between Total electric power consumption -------------372 358 298 + 4 + 25 1955 and 1956. Some analysts fear that the slowing down Industrial eleetric powerin the rate of expansion is the signal for a decline in the consumption -------------361 857 268 + 1 + 85amount of spending. Any major decline in the total spendOrdinary life insurance sales.. 331 361 258 8 + 28 ing of industry would inevitably influence the amount spent Total retail sales ----------192 189 172 + 2 + 12 Durable-goods sales --------175 175 151 •• + 16in Texas. The concern does not particularly apply to the Nondurable-goods sales --200 196 183 + 2 + 9remainder of 1957, since spending for the next four months Urban building permits issued 199 250 182 -20 + 9 Residential ---·------188 252 179 -25 + 5 has been rather generally committed, hut is rather a fear Nonresidential ----·----·-182 257 190 -29 that industrial capacity may be approaching an overex --;;Change is less than one-half of on.e percent. panded level. Ifthis should be the case, the industrial boom TEXAS Editor______________ _ ___________________ _ ____________John R. Stockton Managing Editor___ __ ______ _______ __ __ ___ __ ____ Robert H. Drenner TABLE OF CONTENTS Petrochemicals in Texas The Business Situation in Texas 2 Industrial Production 4 Construction 10 Agriculture 12 Retail Trade . 16 Local Business Conditions • 18 Barometers of Texas Business 24 BUSINESS RESEARCH COUNCIL William R. Spriegel, Dean of the College of Businesa Administration (e:e of!i,cio); L. G. Blackstock; C. P. Blair; E.W. Mumma; Eastin Nelson; and G. H. Newlove. BUREAU OF BUSINESS RESEARCH John R. Stockton Stanley A. Arbingast Florence Escott Director Assistant Director Research Super'IJisor Resources Specialist Francia B. May Alfred G. Dale Anne K. Schuler Statistician Research Associate Research Associate Deirde C. Handy Jacquie LeRoy Roberta Steele Research Associats Research Associate Cartographer Eloise N. RichardsonTina Piedrahita Joan N. Houston Statistical Asaistcu't Statistical Asaistant Statistical Assist4nt Jean J. Harrison Mary Lou Hammack Crescencia M. Stanley Senior Clerk-T11pist Senior SecretaT'I/ Senior Secret4r'll Eva A. Ariaa Candler P. Casa Anna Merle Danz Statistical Techtnician Statistical Assist4nt LibraT'I/ Asaistaint Robert Dorsett Georee E. Neel, Jr. Marilyn C. Whites Offset Press Operator Editorial Assistant Publication Asaistant Assistants Alice M. Bagbdaasarian, Colleen Crawford, James Ma, Thomas J. Mueller, Donald G. Nix, Jackie R. Odiorne, Sylvester D. Parsons, Candis R. Pattillo, and Marie Payne. ~~~~~~~~~--------~ Published monthly by the Bureau of Buainesa Research, Collegeof Buainesa Administration, The University of Texas, Austin 12. Entered aa second elaaa matter May 7, 1928 at the post office at Austin, Texas, under the act of Auiruat 24, 1912. Content of this publication ii not copyrighted and may be reproduced freely. Acknowled&'ement of &Ollrce will be appreciateti. Subscription, $2.00 a year : individual copies, 20 cents. Industrial Production: APPLIED ATOMIC ENERGY IN TEXAS By ALFRED G. DALE A few months ago a group of Texas utilities formed the Texas Atomic Research Foundation for the purpose of sponsoring a four-year, $10-million research program to study the possibilities of controlled fusion as a source of useful power. The technological implications of the pro· gram are, of course, tremendous; harnessing of thermonuclear power-the reaction of the H-bomh--could con· ceivably make obsolete the more conventional fission technology which is currently the basis for nuclear power production. But the technical difficulties confronting attempts to control fusion are formidable, the most serious being the necessity for creating a fusion reaction at temperatures in the range of 100 million to one billion degrees centigrade. Assuming that such problems can be solved, and bearing in mind the remarkably rapid development of applied nuclear technology, it still is difficult to foresee fullscale utilization of fusion power before 1975. Apart from its technological interest, this program emphasizes once again the lack of immediacy, for economic reasons, in the development of substitute sources of power in the Southwest. The difference between the generating costs of conventional power plants in Texas utilizing cheap natural gas and the most optimistic estimates of the costs of power from nuclear fission plants is so great as to pl'.eclude the necessity for central-station atomic power in the state in the foreseeable future. · But power production, the most spectacular application of nuclear energy, may not constitute its most important peaceful use for many years to come--in the country as a whole and certainly in Texas. Almost unnoticed by the general public, applied uses of radiation in industry, agriculture, and medicine are experiencing tremendous growth. Such applications are already of key importance in Texas, which now ranks sixth in the nation in number of users of radioisotopes. At the present time, Texas industry is applying radiation to a number of uses, notably (a) materials testing, (b) process control and research, utilizing tracer techniques, and (c) fundamental research in the petroleum and chemical industries, oriented to possibilities of product process· ing via radiation reactions. In the field of materials testing, gamma ray radiography utilizing isotopes of cobalt, cesium, iridium, 'or thulium, ELECTRIC POWER CONSUMPTION January-August Aug Percent Use 1957• 1957• 1956t change Thousands of kilowatt hours TOTAL ---------------·--4,319,591 27,863,913 24,787,906 + 12 Commercial --------------·---609,623 3,497,489 3,207,279 + 9 Indust rial ----····----·---------2,472,955 18,285,579 16,078,524 + 14 ·------------------ Residential 1,119,208 5,328,368 4,638,957 + 15 Other ------------------··--·-·-----117,805 752,477 863,146 -13 •Preliminary-based on reports of 10 electric power companies reported to the Bureau of Business Research and leveled to Federal Power Com• mission preliminary data. t Revised to preliminary Federal Power Commission data. TEXAS BUSINESS REVIEW Industrial Electric Power Use In Texas Index• Adjusted for seasonal variation. 1947-1949=100 400 400 ,--,. 350 350 300 ~nr 300 250 «' ~ 250 A "i ....,._,. 200 ,./ 200 150 ,.../" 150 i._.l,.r' 100 ~ ,_,-"" ~ \. 00 ,JV"' 50-,.,..,,--50 0 1940 ·41 ·42 ·43 ·44 ·45 '46 ·47 '48 ·49 ·so ·51 ·52 ·53 ·54 ·55 '56 ·57 ° for example, permits nondestructive testing, particularly of metal products, for a fraction of the cost of comparable X-ray equipment. The initial cost of gamma radiographic equipment may be only a few hundred dollars. In the petroleum industry tracer techniques are being developed rapidly. Radioactive tracers may be introduced into the acid phase of oil well acidizing processes to enable precise measurement of acid levels in underground formations; they are also used for the location of underground zones and for measuring the underground flow patterns of oil pools. In refining, tracers are used extensively to measure catalyst flow rates and in connection with level gage devices where liquid temperatures may be too high for conventional equipment. In pipelining, isotope applications permit the precise locating of interfaces between. products in multiproduct pipelines. Illustrative of developing petroleum industry interest in applied radiation techniques is the recent completion of a $500,000 hot lab by Continental Oil Company at Ponca City, Oklahoma. The company will utilize the new facilities for gamma radiation research, the gamma ray source being uranium rods from the AEC Arco {Idaho) installation. The laboratory will also undertake various types of radiotracer studies. According to a recent survey reported in the Oil and Gas Journal,, the petroleum industry saved an estimated $10 million last year through the use of radioisotopes. It is believed that total savings in all industries may amount to as much as $1 billion over the next 10 years, as radioisotope uses expand. There are some interesting prospects in the petrochemical industry for the production of new and better plastics through radiation-induced copolymerization. For example, irradiated polyethylene is stable up to 300° F., unlike conventional high-pressure polyethylene that melts at rela- Gasoline Consumption In Texas Index • Adjusted for seasonal variation • 1947-1949°100 250 250 200 I 200 .~ td '\ l kl ~ yV ""W I'll150 JI" ,r v ~'V 150 I 100 .J f'Vv "" ,J ~'V!,./1N 100 u \A . 1....... ~ 50 I 50 0 0 1940 '41 '42 '43 ""' ·~5 '46 '47 '48 '49 '50 '51 '52 '53 '54 '55 '56 ·57 tively low temperatures. Use of gamma radiation also permits the formation of graft copolymers-a process by which selected monomers may be joined in a predictable rather than a random manner-and makes possible the synthesis of products with preselected and otherwise unattainable characteristics. There are two major sources of radiation power, both of which are being utilized by Texas industry. The betterknown method involves the direct use of radioactive isotopes-such as cobalt 60, cesium 137, carbon 14, and others-as radiation sources. Secondly, a number of companies and research institutions are using high-voltage radiation machines-known technically as particle accelerators-that can be used to produce the same effects as a radioactive source element by accelerating subatomic particles up to speeds approaching that of light. In view of the increasing importance of applied radiation in industry in Texas and elsewhere, it is probable that during the next few years there will be significant develop· ments in nuclear-oriented activities in the state involving (1) construction of specialized reactor facilities for the production of isotopes and for direct irradiation work on materials, and (2) increase in the number of hot laboratories for research involving isotope use. At the present time the opportunities for renting radiation time are very limited for those companies that do not wish to invest in their own equipment and laboratories. There is only one linear accelerator in the country for rent for regular industrial use, and other radiation sources are also limited. For these reasons there appear to be good possibilities for the development in Texas of independent facilities selling radiation time to small and medium-sized manufacturers. The rent charges for using commercial particle accelerator facilities at present range from about $50 to $75 per hour, and are somewhat lower for the use of radioisotope facilities. PRODUCTION OF HYDROCARBON LIQUIDS FROM GASOLINE AND RECYCLING PLANTS Product TOTAL PRODUCTION -·---------------------Condensate-crude -----------------------------------------Gasoline --------------------------------------------------------Butane-propane ------------------------------------------Other products --------------------------------------------- TOTAL GAS PROCESSED• ------------·--Yield per Mcf in gallons --------------------------- *In millions of cubic feet. OCTOBER 1957 (in 42-gallon barrels) Source: Oil and Gas Division, Railroad Commission of Texas January-June Jan 1957 Feb 1957 Mar 1957 Apr 1957 May 1957 June 1957 1957 1956 15,057,239 13,723,939 15,498,368 14,694,535 14,997,479 14,412,585 88,375,145 4,494,474 1,086,876 946,553 1,077,662 1,056,962 1,067 ,491 1,041, 611 6,277,410 5,376,916 7,443,010 6,974,476 7,821,924 7,528,115 7,891,913 7,620,319 45,279, 57 42,751,154 6,162,486 5,518,326 6,307,410 5,850,848 5,786,734 5,511,630 35,137 ,434 33,894,649 364,867 284,584 282,372 258,610 251,341 23 ,770 1,6 0,544 2,471,755 374,618 426,898 471,129 445,125 444,356 421,316 2,5 3,442 2,614,664 1.69 1.39 1.38 1.39 1.42 1.44 1.44 1.36 5 • PETROCHEMICALS zn TEXAS By ALFRED G. DALE In 1956, for the first time, capital investment in the chemical industry in Texas exceeded that in petroleum refining. By early 1957, total employment in the Texas chemical industry had grown to be as large as employment in petroleum refining-an estimated 48,000. The latest Census of Manufactures (1954) indicates that value added in chemical production in the state exceeded $722 million, more than one-fifth of all the value added by manufacture by all industries in the state during that year; new capital expenditures in the chemical industry in 1954 amounted to nearly one-third of all industrial capital expansion in Texas. An increasingly important component of this dynamic industry is the production of petrochemicals, which together accounted for more than half the employment, twothirds of the value added by manufacture, and eight-tenths of the new investment in the chemical industry in Texas in 1954. The growth of petrochemicals production is a midcentury phenomenon. Prior to World War II there was virtually no commercial production of chemicals from oil or gas derivatives; since the end of the war, following a succession of technological breakthroughs, the rate of growth in the nation's petrochemical industry has far outdistanced that of other sectors of the chemical industry until today the value of petrochemicals is well over one-half the value of all chemical products manufactured in the United States. The nature of the complexities that inhibited the commercial development of petrochemical production until recent years is apparent when it is considered how these chemicals must be derived. Crude oil and natural gas are complex mixtures of hydrocarbon compounds, each compound being distinguished in terms of the number of carbon and hydrogen atoms combining to form its molecule and in terms of its molecular structure. The two major groups of hydrocarbons of which crude oil and gas are composed are the aliphatics and the aromatics, differentiated on the basis of molecular structure, the aliphatics being straight-chain molecules and the aromatics having a ringmolecular structure. The lighter aliphatics have been most intensively utilized in commercial petrochemical production. This group may be subdivided into two major types, the paraffins and the olefins. The paraffins-methane, ethane, propane, and the butanes, for example--are relatively inactive chemically; but (with the exception of methane) they can be converted into the much more active corresponding olefins by thermal cracking, and it is these compounds-ethylene, propylene, and the butylenes-that form the basic building blocks for a countless variety of synthetic chemical products. By manipulating the basic structures of these compounds, often under conditions of extremely high temperature and pressure, and by combining them with other basic chemicals, it is possible to produce substances with widely different properties appropriate for almost every conceivable use--solid plastics, rubberlike plastics, synthetic fibers, adhesives, insecticides, solvents, and innumerable other products. Applied petrochemical technology is, in fact, a realized version of the alchemist's dream; the possibility of deliberately synthesizing products to satisfy preselected characteristics is one of the major reasons for the fantastic growth of petrochemical production. The complex needs of modern production processes and consumption requirements demand an increasing flow of products that possess characteristics not found in unique combination in naturally occurring substances. Synthetic rubber, for example, comprises at least nine district types, ranging from the most important S-type used for tires and mechanical goods; butyl rubber, used for inner tubes and in applications where impermeability to gases is important, and including several radically new types such as the dienes, polyurethanes, silicones, and polysulfides, each chemically tailored to fit uses as widely different as crash-pad foams, bulletproof fuel tanks, or resistance to heat, abrasion, or chemical action. Synthetic rubbers are thus applicable to a much wider range of uses than the natural product. Moreover, although the natural product may be available at prices competitive with the synthetic versions and may be qualitatively superior in certain uses, it suffers from the dual disadvantages of having to be imported (largely from Southeast Asia) and of being subject to the large uncontrollable influences that harass all agricultural production. Control over synthetic production makes for more rational planning for anticipated demand, uniform products, and predictable prices. The factors behind the growth of synthetic rubber production are in many respects typical of the economic logic underlying the growth of all synthetic products based on hydrocarbon chemicals; Texas has developed as the major center for the production of the petrochemical intermediates from which such synthetics are manufactured. This development is based largely on a fortunate, almost unique, combination of low-cost raw material availability, low-cost fuel, and accessibility to water transportation. The production economics of most petrochemicals are such that delivered cost at the major fabricating centers (largely in the East and Midwest) is less when they are produced and shipped in bulk from the raw material sources than if they were to be produced at or near the market from locally available or imported raw materials. Moreover, in some cases raw materials are virtually untransportable, except over relatively short distances (ethylene, for example), so that they have to he utilized within a short radius of their production. Even though it is technically possible to transport the raw materials for conversion at locations away from the areas of production, most petrochemical processes are subject to substantial economies of scale; that is, products are most cheaply produced in large-size plants, and this requirement induces plant location in areas where large and uninterruptible supplies of raw materials may be TEXAS BUSINESS REVIEW THE ETHYLENE COMPLEX drawn upon and where, if necessary, alternative sources may he available if substitution becomes necessary. With its large refining industry and with its supply of natural gas and natural-gas liquids, Texas is in a particularly strong position as a raw materials source for the petrochemical industry. Finally, petrochemical growth is responsive to agglomeration economies; many petrochemical intermediates feed into other basic petrochemical products, and the complex patterns of product interchange often make it desirable to locate new plants in the vicinity of sources of supply of intermediate materials. Having become established in a particular area, the industry breeds its own expansion there, providing no external constraints on growth develop. OCTOBER 1957 With few exceptions the Texas petrochemical industry has experienced its most intensive development along the Gulf Coast, notably in the Houston area and in the Beaumont-Port Arthur-Orange triangle, with some activity farther west in the vicinity of Corpus Christi and near Brownsville. Away from the Gulf Coast are individually important operations (not counting carbon black plants) at Longview, Borger, Etter, Big Spring, Pampa, and Odessa. It is in the Gulf Coast area, however, that the combination of factors making for intensive petrochemical development is most clearly seen. With respect to feedstock availability, this area provides an exceptionally flexible operating base. Thus, ethylene, perhaps the most versatile of the petrochemical starting materials, is available directly from refinery off-gases or may be thermally cracked from ethane· propane fractions in refinery gases; it may also be obtained from naturally occurring paraffins. The major supplier of refinery-based ethylene is the Gulf Oil refinery at Port Arthur, which is capable of producing 400 million pounds of the basic hydrocarbon annually. A pipeline system distributes ethylene to a number of plants in Port Arthur, Orange, Houston, and Texas City. Shortly due for completion is a second large ethylene producing facility-that of Phillips Chemical Company at Sweeny-which will have an initial capacity of 180 million pounds annually and will also distribute in the Houston area. Unlike the Gulf Oil operation, the Sweeny plant will utilize naturally occurring butane and propane as raw materials for the ethylene. Humble Oil and Refining Company is also planning an ethylene unit of 80 million pounds annual capacity at Baytown, utilizing refinery gases. In addition, several of the larger petrochemical plants on the Gulf Coast have facilities for captive ethylene production either from natural-gas fractions or from refinery gases. Ethylene-based chemicals constitute a very important part of total Gulf Coast petrochemical production. The diagram on page 7 illustrates the variety of chemicals that may be synthesized from this ubiquitous basic material. As with other petrochemicals, the Texas industry characteristically is oriented to the production of the first· and second-stage intermediates, all of those shown in the diagram being produced on the Gulf Coast. In general, these intermediates are then shipped out of state for processing into final products. As the diagram implies, the complex product patterns usually induce locational integration of various processes, and it is unusual for a plant to be engineered to produce only one product. The tremendous installations of Dow Chemical Company at Freeport, Monsanto and Carbide and Carbon at Texas City', and Du Pont at Orange are extreme examples of multiproduct plants, the first three in particular producing a wide variety of ethylene-based chemicals, in addition to numerous other products from other hydrocarbon feedstocks. Of all ethylene-based products, polyethylene has experienced the most spectacular growth in recent years. There are currently in Texas ten plants operating or under construction; by 1958 the total capacity of these units will be of the order of 725 million pounds annually, probably about two-thirds of the total U. S. capacity. With the exception of the Texas Eastman plant at Longview, all this capacity is on the Gulf Coast, at Orange, Port Arthur, the Houston area, Texas City', Freeport, and Seadrift. Also of particular importance in the Texas petrochemical picture is the production of synthetic rubber (largely Stype) and its component materials, butadiene and styrene. This segment of the industry has experienced vigorous expansion since the general sale of federally-owned facilities to private companies in 1955. By the end of this year, nearly one-half the total U. S. synthetic rubber capacity (S-type) will be located in Texas, following completion of substantial expansions at existing plants at Port Neches (Texas-U. S. Chemical Company), Houston (Goodyear Synthetic Rubber Corporation), and Borger (Phillips Chemical Company) and completion of the new General Tire and Rubber plant at Odessa. Concurrently with expanded copolymer capacity, sub- SOME PETROCHEMICAL TERMINOLOGY monomer A molecule or compound usually containing carbon and of rela tively low molecular weight and simple structure. polymer A substance composed of giant molecules formed by the union of a number of simple molecules (monomers). Thus, polyethylene is a polymer of ethylene; polystyrene is a polymer of styrene monomer, etc. copolymer When polymerization is accomplished with different monomers, the resulting substance is termed a copolymer. Stype rubber is a copolymer, since two monomers, styrene and butadiene, are combined. elastomer A synthetic polymer with rubberlike characteristics. plastic A material that (a) contains an organic substance of high molecular weight, (b) is solid in its finished state, and (c) can be shaped by flow at some stage of its processing. resin Sometimes used synonymously with plastic but more precisely refers to the basic polymers used as starting materials for the finished product. stantial increases in butadiene and styrene capacity also have occurred. During 1957 three new hutadiene plants, Firestone Tire and Rubber Company at Orange, Texas Butadiene and Chemical Corporation in Houston, and Odessa Butadiene Company at Odessa will go on stream. These units, together with expansions of existing plants at Baytown, Port Neches, Houston, and Borger, will give the state about three-fourths of the nation's butadiene capacity by the end of the year. Butadiene is one of the important intermediates not based on ethylene as its starting material, the principal feedstocks being butane or refinery butane-butylene streams. Styrene, the second component of S-type rubber, is a complex vinyl compound based on ethylene and hen· zene. The latter material, until recent years almost wholly a product of coke oven and coal tar distilling operations, is now being produced in increasing quantities from pe· troleum. There are currently two styrene producers on the Gulf Coast, at Texas City and Freeport, with a third plant recently constructed at Big Spring and a fourth at Odessa. Plans for construction of a styrene plant at Orange were recently abandoned, reportedly because existing U. S. producers have initiated substantial price cuts for styrene delivered under long-term contracts. More than four-fifths of total synthetic rubber produced is of the S-ty'pe, reflecting its widespread use in tire manu· facturing. Of the remainder, butyl rubber accounts for about 6% of synthetic rubber production, its importance TEXAS BUSINESS REVIEW having been diminished in recent years owing largely to the development of tubeless tires which have cut the market for butyl inner tubes. However, intensive research into new butyl uses, including an all-butyl tire, and mechanical uses where its excellent wearing and air-retention qualities may be important, hold considerable promise that this rubber may enjoy renewed growth in the future. At the present time there are only two producers of butyl rubber in this country, one of them at Baytown, operated by Humble Oil and Refining Company', and the other at Baton Rouge, Louisiana. The Baytown plant has a capacity of 43,000 long tons annually, a little less than the Baton Rouge facility. Like S-type rubber, butyl rubber is a copolymer of two hydrocarbon compounds, in this case isobutylene (recovered from refinery gas streams) and isoprene, a com plex hydrocarbon also derived from refinery gases. Neoprene and N-type (nitrile) rubbers, which are the remaining types of synthetic rubbers of commercial importance, are not produced in Texas at the present time. However, acrylonitrile, used in N-type rubbers, is produced at Texas City (by Monsanto). This product is also (and more importantly) used as a basis for the new acrylic fibers (e.g., Orlon, Acrilon, Dynel) that are experiencing rapid growth in clothing and other fabric uses. The growth of other synthetic fiber production has stimu lated important developments of other petrochemical inter mediates in Texas. Thus, rayon acetate requires large quantities of acetic acid and acetic anhydride; two plants, at Texas City and Pampa, produce both of these chemicals; two other plants at Bishop and Brownsville produce acetic acid, without any associated anhydride production. An im portant intermediate for acetic acid and acetic anhydride is acetaldehyde production of which is usually locationally integrated with the two other materials and which is pro duced via the oxidation of butane and propane. The other important fiber that has induced intermedia~es production in Texas is n~lon. A ~u Pont _Pla~t i:iear Vic toria produces a nylon mtermediate, ad~pom~rile, from butadiene which is then shipped to the Sabme River Works at Orang; to be combined with other intermediates to form the basic nyIon salt. The booming plastics industry, like synthetic fibers, has triggered large-scale production of petrochemical prod ucts for plastics and resin uses. Styrene an~ polyethylene production h:is al~eady be~n note?; a thud importa~t group comprises vmrl P.lastics, d.erived by the polymeri zation or copolymerizat10n of vmyl ~on?mers, nota~ly vinyl chloride, vinyl acetate, and vmyliden~ chloride. These plastics enter into many end uses, mc~udmg molded products, floor covering, and Saran p~ckagmg film (poly merized vinylidene chloride). Product~on of the m?nomers mentioned above is well established m Texas, with four large producers of vinyl chloride (two at Texas City, one at Deer Park one at Freeport) and two producers of vinyl acetate at Pa~pa and Texas City. One producer (Diamond Alkali at Deer Park) manufactures polyvinyl chloride in addition to the monomer. Vinyl chloride may be ~e!ived either from ethyl~ne di chloride, which in turn utilizes ethylene and c~lorme.' or may be based on acetylene and hydrogen chloride: V1~yl acetate is obtained by reacting acetylene and acetic acid. Two interesting points a.re illus~rated he~e: first, the de sirability of locational mtegrat10n of di~erent types. of basic chemical production-large supplies of chlorme OCTOBER 1957 being necessary in several petrochemical processes; second, the existence of raw material competition-in this case, ethylene versus acetylene. Acetylene, one of the simplest hydrocarbons and a very versatile chemical building block, is not found naturally. Until a few years ago, all acetylene was produced by· the treatment of calcium carbide with water, but certain new processes now permit commercial production by cracking natural gas or LPG at high temperatures. Acetylene derived from natural gas now accounts for perhaps 10% of total output; by the end of 1958, the proportion might approximate 25%. In Texas it has been produced by Monsanto at Texas City for acrylonitrile (it is competitive with ethylene oxide for this purpose) and by Carbide and Carbon at Texas City, for use in the production of vinyl monomers. Rohm and Haas at Deer Park has, for some time, utilized carbide acetylene for the production of acrylic monomers; however, this company is currently constructing a new unit at Deer Park for the production of acetylene from natural gas; Diamond Alkali at Deer Park is also building a new acetylene unit. Many observers in the chemical industry believe that ethylene will be faced with increasingly strong competition from natural-gas based acetylene as a petrochemical base. It is not possible in one article to review more than a part of the petrochemical industry. In addition to products of the types discussed, other petrochemicals made in Texas are used for synthetic detergents and pesticides; there is important and expanding production of propylene chemicals (notably synthetic glycerol, isopropyl alcohol, and acetone), and recent developments in polypropylene chemistry indicate the strong probability of future polypropylene production for uses similar to those developed for polyethylenes. Increased utilization of petroleum-based aromatics will also undoubtedly occur. The recent history of petrochemicals in Texas has demonstrated the enormous potential of an industry based on remarkable advances in applied chemical technology. The rapidity of technological advance is apparently accelerating, and while the future patterns of product innovation cannot possibly be foreseen, it is clear that the production of petrochemicals will continue to play an increasingly important part in the economic life of the state. FEDERAL INTERNAL REVENUE COLLECTIONS Source: Internal Revenue Service, U. S. Treasury Department July 1-August 31 Percent District 1957 1956 change TEXAS --------································ $386,419,881t $311,237,446 + 24 Income ·······-······-············-················-62,914,776 60,383,807 + 4 Employment ··································-· 3,185,071 2,383,368 + 34 Withholding .................................... 265,679,096 207,175,541 + 28 Other .... ......................... .......... 54,640,942 41,294,730 + 32 SOUTHERN DISTRICT ........ 200,602,580 179,996,292 + 11 Income ·········-···································· 31,861,296 29,726,293 + 7 20,254 33,086 -39 Employment ·························-····-····· Withholding ................................... . 135 ,387 ,585 122,346,493 + 11 33,333,445 27,890,420 + 20 Other ···-············································ NORTHERN DISTRICT......... . 185,817,301t 131,241,154 + 42 30,657,514 + 1Income ····-···-····-·······-····················-··· 31,053,480 2,350,282 + 35Employment -··································· 3,164,817 84,829,048 + 54Withholding -··········-······-··············-·· 130,291,511 13,404,310 + 59Other ····················-········-·················· 21,307,492 t Details do not add to t otals due to rounding. 9 Construction: 8uildl1g Coutructlon 11 Texas• Index • Adjusted for s.easonal variation • 1947-19491100 300 300 SEASONAL DECLINE NORMAL 250 By ROBERT H. DRENNER The August index of building construction authorized in Texas (adjusted for seasonal variation) fell sharply' to 199 from July's 250. The July index, however, ha~ been at a level substantially above the July normal; m fact, the seasonally-adjusted July index was higher tha!1 for any month since early 1951. Except for the July mdex, t~e August 1957 index was still exceeded or equalled so far this year only by that for January (213) and June (_199). The same index for August 1956 (182) was substantially lower and had fallen from 191 in the preceding July. The August 1957 unadjusted index of total building constr.uction authorized declined to 194 from 238 for the precedmg month, but again this 14% decrease was from an unusually high index for July and does not indicate any more than the normal decline in authorizations for this season of the year. The unadjusted index for August last year was 176, substantially lower. . . . Total value of building construct10n authorized m Texas for the first eight months of 1957 was 5% above that for the same period last year. After price increases are taken into account total volume of business construction authorized for January-August 1957 was approximately the same as for the comparable period last year. . Construction authorizations in August in metropolitan areas declined 21 % from July, near the normal seasonal decline; for the first eight months, however, such construction posted a 12% gain over January-August 1956. ~onstruction authorizations in the central cities of metropolitan areas gained 14% in this period (though ~own 19% from. July). A considerably ~ess fav~rable showmg ~~s made by metropolitan construction outside the central cities (-5% for the eight-month period and-30% from July to August 1957). This is further confirmation of a trend that has been pointed out frequently. . . Total nonmetropolitan construction, as measured by estimates of authorizations, declined slightly in real value for January-August 1957 from January-August 1956; actu~l values of authorizations for these two periods were approximately equal. RESIDENTIAL August residential building authorizations show much the same movement as total building authorizations. The August index adjusted for seasonal variation, fell to 188 from 252 for 'July-a drop only slightly greater than that in the index of total authorizations-and was also higher than the index for the same month last year ( 179) . Except for July, the August index was only 10% below the highest index so far this year (January's 207). The unadjusted index of August residential authorizations fell only half as much as the adjusted index {to 198 from 234 in July). The same index for August 1956 was nine points below that for August this yea.r. . . . For the first eight months of 1957 residential bmldmg authorizations were 8% above authorizations for JanuaryAugust 1956. After adjustment fo~ pric.e changes, t~e ind~cation is that actual volume of residential construction this n I/.Jh1 ~ 200 200 JI 1 ~~ / I I~ rhll\J \ .I 150 1so r I ww 100 100 t I 1tJ ~ 50 50 YI,... v• \ ~ ~.J v• rv 00 1940 ·41 ·42 ·43 ·44 ·.ts '"'6 ·o '"8 '.t9 ·so ·51 52 53 5"' 55 56 57 "value of building construcrion ourhorized year will be about the same as for last year. Howev.er, residential construction in 1956 was depressed, and smce the Texas population and personal income h.ave continued to rise, residential construction in Texas this year has probably been somewhat more depressed than the movements of the indices of residential building alone can indicate. Estimates of value of August residential authorizations in Texas were down 15% from July but for the year so far were 7% above the similar 1956 period. One-family d~ellings were down 12% from J?-ly but up 10% ove.r t~e eightmonth period. Multiple-family dwellmg authorizations for January-August 1957 declined 24%. This decline was caused by sharply reduced activity in thr~-family a~d four-family residential construction thus far this year (with authorizations at only about half the amount for JanuaryAugust 1956) and in apartment buildings (down 29% over the eight-month period) . How~ver, duplex construction this year compares favorably with that for 1956 (up 9%), and authorizations for August show a healthy 26% increase from July. The relaxation in FHA loan requirements came at the beginning of a normal seasonal downswing in home construction. Considering that a period of several months would be necessary· . to process any significant number of loans under the new regulations anyway, it is probably too early to see the effect of these new loans on residential construction, if in fact there have been enough new loans to give strong support in the near future fo~ a rise in the seasonally-adjusted index of residential construction. How· ever, most observers appear convinced that the n~w lo~n requirements will have little if any effect on residential building until next spring. Despite the higher interest rates allowed on mortgages under FHA regulations, the supply of money available for investment in such mortgages remains limited with little evidence of substantial immediate improvement.' However, if demand for funds for nonresi· dential construction drops considerably, and a decreased VALUE OF CONSTRUCTION CONTRACTS AWARDED Source: Dodge Statistical Service January-August Aug Percent Type of construction 1957 1957 1956 change Value (thousands of dollars) TOTAL CONSTRUCTION .... 129,553 1,178,982 1,152,137 + 2 ALL BUILDINGS ................ 100,525 833,169 909,330 -8 Residential ········-··--·----·················-60,265 492,176 485,643 + 1 Nonresidential -·-·-·········----····-·-··· 40,260 340,993 423,687 -20 PUBLIC WORKS AND UTILITIES ·-------··············-··· 29,028 345,813 242,807 TEXAS BUSINESS REVIEW rate of industrial expansion eases another drain on the supply ~f money-there are signs that the latter development l~ mcreasingly probable-activity in FHA mortgages cou!d mcrease quickly. An anticipated greater supply of ~vailable mortgage money next spring, along with lower mter~st rat~s generally, is behind the prediction of an upturn m residential construction next year. However, contin~ed inflation would probably invalidate such optimistic estimates. NONRESIDENTIAL Nonresidential construction in Texas through August has been at approximately the same level this year as for 1956. Authorizations show a 4% gain, but price increases offset this. Several categories in the nonresidential sector show sharply different trends for the period-for example, tourist court authorizations for the first eight months of 1957 increased 166% from the same period last year (and August authorizations rose 43.7'% over July). Authorizations for churches were up 31%, and a 71 % increase for the period in factory and workshop authorizations over January-August 1956 confirms the continued rapid industrialization of the state. Works and utilities construction in Texas (up 77% from January-August 1956) and institutional buildings (up 179%) confirm a heavy rate of expenditure for construction by' municipal and governmental agencies. On the other hand, educational building construction so far this year is at a rate lower than in 1956 (down 10%); office-bank buildings decreased 43% for the eight-month period, and hotel construction was down 14%. Nonresidential building construction in Texas for the next twelve months will, of course, be greatly influenced by national economic developments but will not necessarily parallel national trends in similar construction. Texas in dustrialization continues to expand faster than that for the nation as a whole, and despite scattered evidence of excess capacity in some industries and growing talk of postponed or stretched out expansion plans, it appears likely that in dustrial building in Texas will remain at a high level for the next year. Government spending for buildi~g ~on struction of various kinds is also expected to remam high, and a growing population will continue to support demand for new schools, churches, amusement buildings, stores, and works and utilities. ADDITIONS, ALTERATIONS, AND REPAIRS Additions, alterations, and repairs to residential (house keeping) dwellings in August increased 13% f:om July. For the eight-month period the rise was 7%, which ( a~ter adjustment for price changes) indicates that construct10n activity in this category has been at approximately the same rate as in the same period last year. Additions, alterations, and repairs to other private build ings increased substantially' from July (+61% ) . However, the indicated 38% rise for January-August 1957 over January-August 1956 ~s perhaps ~o~ewhat mi~leading, since this category now mcludes additions, al.terat10~s'. and repairs to governmental (nonfed~ral) sei:vice. bmldmgs. Nevertheless the real percentage mcrease m this category has been substantial, and reflects the general prosperity of Texas business and industry. A FORECAST FOR 1958 A recent issue (September 4, 1957) of Texas Construction Journal predicts that total funds to be spent on construction in Texas in 1958 will approximate Sl.9 billion. The Journal's estimate for 1957 construction was $1.7 billion; since the 1957 eight-month total is about $1.2 billion, the es:imate will apparently be quite close to actual construction for the year. The Journal's annual, detailed forecast for 1958 is that $331.9 million in federal funds will be spent for construction in Texas; the state's cities will spend $1307.l million; county spending for construction purposes will approximate $46.7 million; and the state will spend $180.8 million. Though the estimated total amount to be spent in 1958 is almost 10% higher than for 1957, little if any real increase in physical volume of construction is expected, with price increases accounting for the rise in dollar value. ESTIMATED VALUE OF BUILDING AUTBORlZE.D Source: Bureau of BUBineu Reeearcb in eeoperatlon with the Bureau of Labor Statiatioa, U. 8. Department of Labor Janu.ary-Auguat Au~ Percent Classification 195 7 1957 1956 cbanee Thousands of dolla.n CONSTRUCTION CLASS ALL PERMITS ----------------- 88,032 703,663 647,680 + 9 New construction -------------------- 66,516 61 4,014 574,290 + 7 Residential (housekeeping) .. 43,387 355,464 325,997 + 9 One-family dwellings ------- 41,756 338,980 307,382 + 10 Multiple-family dwellings __ 1,330 14,171 18,615 -24 Nonresidential buildings --·--· 23,129 258,550 24 8,293 + 4 N onhousekeeping buildinp (residential) -----------········ 703 5,161 3,250 + 59 Amusement buildings ------- 61 7 4,340 4,435 - 2 Churches ·-------------········--------· 2,227 23,603 18,01 2 + 81 Factories and workshops.... 2,803 28,723 16,844 + 71 Garages (commercial and private) ---------------· ·· 382 3,670 4,350 -16 Service stat ions -------·····----- 969 8,700 8,560 + 2 Institutional buildings ----·· 364 11,584 4,157 + 179 Office-bank buildings• ······ 5,440 33 ,951 59,560 -•3 Public buildingst -·······--·--·-· 11,874 2,913 Works and utilities --------- 1,810 13,375 7,559 + 77 Educational buildings ------- 2,460 61,013 67,946 -10 Stores and mercantile buildings ---····-·-·······-······ 5,077 48,628 47,355 + 3 Other buildings and structurest ········-··············· 777 3,933 3,352 + 17 Additions, alterations, and repairs§ -------------·-·····--·····---- 16,516 89,649 73,390 + 22 METROPOLITAN vs. NON METROPOLITAN U Total metropolitan ---------------Cent ral cities ------------------------63,392 55,915 540,196 474,390 483,763 414,595 + 12 + 14 Outside central cities Tota l nonmetropolitan -----------·--·-··· 7,477 19,641 65,806 163,468 69,168 163,917 - 5 •• 10,000 to 60,000 population_ 13,622 118,971 117,877 + 1 L ess than 10,000 population.. 6,019 44,497 46,040 - a •Includes vnblic (nonlederal) administration buildlni'S beginnini' July 1957. t Public (nonfederal) building authorized is reported aa office buildinp or other nonr esidential buildings beginning July 1957. tincludes government (nonfederal) service buildings beginnini' July 1957. §Includes additions and alterations to public buildings beginnini' July 1967. ll As defined in 1960 Census. ••Change is less than one-half ol one peTcent. OCTOBER 1957 Agriculture: TEXAS CATTLE THRIVE AGAIN By GEORGE E. NEEL, JR. This past spring Texas cowboys r.ode rain-soaked fence lines and kicked up mud across various parts of the state as they herded and cared for ~n estimat.ed 7,736,?00 head of cattle that make up Texas top agricultural mdustry. The preliminary June estimate by the U.S. Department ~f Agriculture was below the 8,501,000 total for 1956, but this decline has been reversed, and the next few years can be expected to see a steady rise in the number of Texas cattle. After seven dry years, ranchers, forced to sell large numbers of cattle because of the drouth, are keeping their herds on rain-restored pastures in Texas. They are watching both the cattle and the price of cattle, up $2 to $3 more per 100 pounds at midyear than it was last year at the same time, gain weight before sending large number.s of the animals to market. As would be expected, there is also a definite decrease in the number of cattle on feeder lots this year because of the drouth-breaking rains in April ~nd May. According to estimates from the Crop Reportmg Board, there were 65,000 cattle and calves on feed for market in Texas on July 1-an 18% decrease from the 1956 report. By June 1 Texas pastures were at 83% of their,normal condition-a considerable change from last year s 53%, and from the fact that 222 of the state's 254 counties were declared drouth disaster zones for federal aid in 1956. Texas with cattle on its farms and ranches valued at $487,303,ooo in 1954, has been the outstanding be~f-:producing state in the nation for several years. This is a F AR M CASH I N COME* J anuary-August Percent Commodity 1957 1956 change Thousands of dollars TOTAL -·--··-----·--·-------· 820,393 974,171 -16 Cotton ··-······--········-----------· 166,197 236,146 -30 Cottonseed ---··-----------·-··----- 13,185 30,697 -57 Wheat ·---------·--------·-·----··----- 41,897 33,546 + 25 Oats ---------------··-------------·----- 7,854 5,456 + 44 Corn 7,442 10,324 -28 Grain sorghum .,----------··--· 42,132 45,022 - 6 Flaxseed ---------------·-·------··-· 314 396 - 21 Peanuts --·-·-----··------------·---·- 2,207 4,655 - 53 Rice -----------·---·-----------·-------·- 3,752 5,332 - 30 Cattle -------· ---·--------·-------· 188,086 214,293 - 12 Calves ----------·-·---·-·--··---·-- 57,147 63,773 -10 Hogs ----·-----·-----·--·---·-----------· Sheep and lambs -------·------·Wool --· ------·-··························· 44,519 16,941 14,481 43,620 23,451 11,010 + 2 -28 + 32 Mohair ···········-··················-··· 9,289 6,968 + 33 Poultry .................................. . 38,709 41,581 - 7 Eggs ·············-····················-·· Milk and milk products .... 28,808 79,174 38,608 83,784 -25 -6 Fruit and vegetables ........ 58,292 75,498 -23 *Far m cash income as computed by the Bureau understates actual farm cash income by 6.% to 10%. This situation results.from the fact that means of securing complete local marketings, especially by truck, have not yet been fully developed. In addition, means have not yet been developed for computing cash income from all agricultural specialities of local importance in scattered areas. This situation does not impair the accuracy of the index shown on page 24. natural result when it is considered that this state is the largest in the nation and that five-sixths or more of its surface is better suited to the raising of livestock than to crop growing. Even the state itself, through its prison system, is in the cattle business, owning some 6,000 cattle on farms totaling about 70,000 acres. Historians agree the first cattle were introduced to Texas by the Spaniards in the early part of the sixteenth century. It is believed that as these cattle became "wild" and mixed with other breeds brought in by Anglo-Saxon settlers the Texas Longhorn cattle developed. Only a few of these cattle are in the state today, but they were well-suited for the long trail drives to market that began shortly after the Civil War. During that war, trade routes were blocked by Union armies and warships, and Texas' cattle population grew to an enormous size. However, those cattlemen who survived these hard no-market times drove an estimated 10,000,000 head of cattle valued at $200,000,000 up the trails to market outside Texas during the three decades after Lee's surrender. The Longhorns, though unattractive, successfully covered many miles with their long legs on these trail drives, a feat that probably would be impossible for today's compact animals, such as the Hereford. Then in the 1880's, the railroads made advances into Texas and refrigeration was developed, bringing an end to the long drives and the disappearance of the Longhorn. Along with these developments in this period, some of today's ranching methods also began to appear. One of the big changes in th~ Texas cattle industry in the past half-century has been the steady shift in distribution of cattle from West to East Texas. The drouth, making East Texas' greater water supply more desirable, has been responsible for part of this change; but another factor, the government farm program begun in the 1930's, also has been instrumental in this shift. In the 1930's the chief crop in East Texas was cotton. Crop controls over small pieces of land in this area hit farmers hard; cattle raising was one escape from this financial pressure. Many CARLOAD IHIPMENTS OF LIVESTOCI• Source: Bureau of BW1ine111 Research in cooperation with Agricultllral Marketi~ Service, U. S. Department of A~iculture Percent chan~e Aug 1957 Aug 1957 Aug July Aug from from Classification 1957 1957 1956 July 1957 Aug 1956 TOTAL ------------·-3,098 3,299-7,026 -6 -56 Cattle -------------·-------------------2,167 2,603 4,654 -17 -53 Calves ----------·----------------------668 431 1,289 + 55 -48 Hogs ·-----------------------------------3 •• -100 Sheep --------------· ·------------· · ·-··· 263 266 1,080 -1 -76 INTE RSTATE --·····--·· 2,878 2,988 6,569 -15 -54 Cattle ---------------------------------2,001 2,352 4,311 -15 -54 Calves ----------------------------------627 370 1,241 + 69 -49 Hogs ------------------------------------** •• Sheep --------·······--------------------250 262 1,017 -5 -75 INTRASTATE ----------220 316 457 -30 -52 Cattle -·-------------------------· ····-166 251 343 -34 -52 Calves 41 61 48 -33 -15 Hogs ---------·-·---·-·--·--------------3 •• -100 Sheep ·-------------------·-----····----13 4 63 + 225 -79 *Rail-car basis : cattle, 30 bead per car ; calves, 60 ; bogs, 80 ; and sheep, 250. **Change is less than one-half of one percent. TEXAS BUSINESS REVIEW CATTLE ON TEXAS FARMS AND RANCHES, 1900 CATTLE ON TEXAS FARMS AND RANCHES, 1954 LEGENO LEGEND C:::J Uodor 30,000 c:::J Undor 30,000 c:::::J 30,000..0,000 30,000-'0,000 -Ovor 40,000 -Onr •o,ooo *-"" ,.. c.m...... o.c...... wss. ,,. 2J.2f farmers gradually began to take this route, and as one Even tranquilizers that have been widely used by humans drives through East Texas today he will see that more and are being fed to cattle at Pfizer Agricultural Research Cenmore bottom land and former timber land has been cleared ter near Terre Haute, Indiana. It was reported that steers of its brush and trees and transformed into green pasi.ure taking these tranquilizers gained weight faster, used feed for cattle. Along with this change, many West Texas landmore efficiently, and graded out better when slaughtered. owners with larger land holdings drilled water wells and Root plowing of heavy brush and replacing it with special turned to irrigated farming in place of ranching. grasses have improved ranges. Also, breeding experiments In addition to the large cattle concentration in East have improved beef animals in many ways. Texas, numerous cattle are also found in the upper half of The result of these and other changes in the cattle raisina the Panhandle and in the southern tip of the state. Southindustry is suggested by a 1955 estimate that about 30% east Texas has been affected very little by changes in dismore beef and veal was produced from the same size herd tribution of cattle, and has kept its large beef animal popthan in the 1920's. ulation. In fact, two of the area's counties, Harris and BraThe effects of root plowing are a good example of the zoria, were among the 100 leading cattle raising counties wider implications of some of these changes in cattle and in the United States in the 1954 Census of Agriculture. ranch management. Dolph Briscoe, Jr., Uvalde rancher, has Cattle head count was 113,426 for Harris County and 96,-had phenomenal results, despite drouth conditions in the 801 for Brazoria County. past, from root plowing 40,000 to 50,000 acres of brushThe cattle industry is changing, and improvements are infested ranch land and reseeding the land with blue panic grass. Not only has this rendered the soil more productive; constantly being made in Texas, as they are in other parts of the world. In 1920 there were an estimated 1,24.0,000 it has also prevented excessive runoff of rainfall. E. L. Peterson, Assistant Secretary of Agriculture, after horses on Texas ranches and farms; in 1955 there were only about 250,000. These animals are being replaced by recently viewing the results of this root plowing and re jeeps, trucks, and brush-clearing bulldozers. Instead oi seeding process, said, "If we could put a carpet of grass like we have seen today over our rangelands, a good share. depending on rainfall in the Panhandle and South Plain3 of our water problems would be over." Peterson felt that regions, some 27,000 water wells had been dug by 1954 to counter aridity in this area. In place of cowboys, some "water is our number one natural resource problem. You can't separate land and water management. Recent floods 300 aircraft are being used in Texas to patrol fence lines, spray brush, spot stray ca~le, and make trips to market. in the state and elsewhere have demonstrated that soil and water management are inseparable." Antibiotics, like aureomycm, have been added to feed to Althougl;t Hereford cattle now make up about 75% of the increase growth of cattle. 13 OCTOBER 1957 cattle population on the Texas range, new breeds have been and are being developed through experimentation. During Texas Meat Week, August 11-17, Governor Daniel said, "For many years, Texas has led the nation in the production of beef cattle and sheep. Texas-grown meat has become famous throughout the world, and has consistently maintained high importance in the agricultural economy of the United States." Not only is Texas recognized for the high quality of its meat but also for the type of beef the state produces. Texas has made an outstanding breeding contribution to the beef industry through the development of the Santa Gertrudis cattle by the King Ranch. Officially recog nized by the U.S. Government in 1940, the Santa Gertrudis is the first distinct breed of cattle to be developed on the North American continent. Essentially five-eighths Shorthorn and three-eighths Brahman, the breed is noted for its resistance to heat and insect pests, and for its hardiness, propensity to fatten, and early maturity. Robert J. Kleberg, Jr., president of the King Ranch, told members of the Santa Gertrudis Breeders International at its annual meeting in San Antonio in April that this Texasdeveloped breed of cattle has now spread to 30 states and into 33 countries. Even Alaska has recently had Santa Gertrudis cattle added to its cattle population. Jim Scarborough, Jr., of Kleberg County, Texas, now a master sergeant in the Air Force, recently transported several head of the cattle from South Texas via Seattle to an island off the coast of Alaska. The cattle passed the winter of 1956 1957 in good condition, and, according to Scarborough, "all the cattle were winter-thin, but the Santa Gertrudis were in better flesh and condition than the native cattle." The Santa Gertrudis so impressed Vladimir Maskevitch, Russian first deputy minister of agriculture in 1955, that when he saw them at Bluebonnet Experiment Station, he said, "If I had a bottle of champagne, I would drink on the spot in honor of these animals." The visitor then bought60 head of the cattle for Russia. The Texas Agricultural Experiment Station and the USDA are also carrying on breeding experiments crossing Herefords with Brahmans, but lasting results are not expected for several years. INDEXES OF PRICES RECEIVED BY FARMERS (1009-14=100) Source: Aa'ricultural Marketinr Service, U.S. Department of Arriculture Percent chanre Index Aug 1957 July 1957 Aug 1956 Aug 1957 from July 1957 Aug 1957 from Aug 1956 ALL FARM PRODUCTS ------ALL CROPS -----------------Food grains -----------····--------------·Feed grain and hay ---------------- 271 249 215 155 271 251 215 166 250 249 211 176 -- •• 1 •• 7 + 8 •• + 2 -12 Potatoes and sweet potatoes __ __ Fruit ----------------------------------------- 228 102 247 102 278 103 - 8•• -18 -1 Truck crops ----------------------------- 266 295 378 - 10 -30 Cotton ---··------------------------------ 264 260 250 + 2 + 6 Oil-bearing crops ------------------- 276 293 264. 6 + 5 LIVESTOCK AND POULTRY PRODUCTS__ __ Meat animals --------------------------Dairy products ------------------------ 300 341 245 297 340 240 252 265 250 + 1 •• + 2 + 19 + 29 -2 Poultry and eggs ------------------- 202 185 215 + 9 - 6 Wool ---------------------····--·--·-······---- 366 379 255 3 + 44 •• Chan~e is less than one-half of one percent. Farm Cas• l1eo•e 11 T11as Index • Unadjusted for seasonal variation • 1947.1949·100 250 250 200 200 150 150 I I ~ . ~ II " I I 100 I 100 ~ I I J I .~ J I I 50 A f I r v/'1 J ' I r 1r r v It-lr1 l!' u 50I J 14 fJ r.J v v u I ' V" hJ L 0 1940 "'1 ''2 '43 '44 '45 '46 '47 '48 '49 '50 '51 '52 '53 '54 '55 56 57 ° Texas is not alone in breeding experimentation, neither in this country nor outside the country. In the Molteno Institute of Biology and Parasitology in England the British have developed a promising process called superovulation. This process involves the transfer of a series of fertilized ova from a single cow into the wombs of others. The latter become, in effect, walking incubators, and bear calves with the more desirable characteristics of the original mother. Americans ate more beef, approximately 85 pounds per capita, than any other meat in 1956, and approximately 42.31 % of the livestock income to Texas ranchers and farmers came from cattle during the period from 1924 to 1947. It is little wonder, therefore, that agricultural research and improvement programs are continuously being conducted by various groups. However, in 1956 the average retail price per pound of the 14,437,000,000 pounds of beef produced by the nation as a whole was only 66 cents, the lowest price per pound of beef since 1947. In addition to the low prices of beef, it was estimated that livestock producers (ranchers and cattle feeders) received only 62% of the consumer's dollar spent on beef in 1955. The rancher received only about half of this 62%. The other 38% of the consumer's dollar went to the various marketing agencies--dealers, auctioneers, commission men, truckers, railroaders, slaughterers and packers, wholesalers, jobbers, brokers, and retailers-who provide the facilities and services to process and transport the beef from the ranches and farms to the consumer's hands. Some of the leading livestock sales centers in Texas are located at Fort Worth, San Antonio, and Houston. The Fort Worth stockyards had a capacity of 30,000 cattle, 40,000 sheep, and 12,000 hogs in 1956, and throughout 1956 a total of 912,272 cattle and 244,210 calves were received there. Texas also has numerous meat packing plants. Armour and Company and Swift and Company have maintained plants in Fort Worth since about 1902, and Swift has other plants at San Antonio and Dallas. Hormel and Company has plants in Beaumont, San Antonio, Dallas, and Houston; other independent meat packers, such as Decker and Sons and Rath Packing Company, operate at Fort Worth, Hous· ton, San Antonio, El Paso, and at other centers throughout Texas. Although prices have been low for several years and the beef producer's share of the consumer's dollar has been proportionately low, "things are looking up" for the beef raiser in 1957 and probably through at least 1958. TEXAS BUSINESS REVIEW The ~hief reason for this bright prediction for beef pro REVENUE RECEIPTS OF THE STATE COMPTROLLER ducers is the fact that the number of cattle will be below normal for some time while the nation's consumers continue to increase rapidiy. On January 1 there were an estimated 95,200,000 head of cattle on farms and ranches in the United States 1 600. 000 below January 1, 1956. For the past seven yea;s ~attl;. men have pushed their cattle production upward so that the.number of cattle increased by 20 million during this p~~10d. A strong consumer demand (with consumption mu~gfrom 56 ~o 85 pounds per capita from 1951to1956), a shift from dauy to beef cattle, and a higher calf production have been behind this growth. The same reasons for cattle expansion are present in 1957, but ranchers, short of funds because of the drouth, had to sell large numbers of their cattle in 1956. Although the drouth has broken and ranchers have started rebuilding their herds, it is doubtful that cattle numbers will approach normal for several years, even under continued favorable conditions. Perhaps some ranchers will follow the advice of A. H. Walker, range specialist for the Texas Agricultural Extension Service. He believes that ranchers "should not buy back but should breed hack into" the livestock business. Walker even advises ranchers to use supplemental pastures during the break from the drouth to provide for maximum range recovery. If the restocking process is slow, then several years will he necessary for an adequate ratio of 55 head of cattle to 100 persons to he attained. In 1956 this ratio was on the decline, and the human population in the United States is increasing by an estimated three million a year. In order for the proper ratio to be achieved, the cattle population must increase by one and one-half million each year. If a considerably smaller ratio continues to exist, prices for beef will rise indefinitely. The rancher can, therefore, look at the drouth with mixed emotions. It caused most cattle growers to cut down on the size of their herds, hut at the same time, by restricting production, it helped to increase the price of cattle. SotJ.rce: State ComptroU..r of Publle AcCOllnta September 1-Augus 31 P rcent Account 1956-57 1956-66 chan~e TOTAL --------------··········-··-······--···· $961,900,342 $925,612,917 + 4 Ad valorem, inheritance, and poll taxes ·········-····-····-············· 43,567,319 41,2 9,754 + 6 Natural and casinghead ~as production taxes ----·-················ 41,246,207 41,425, 01 •• Crude oil production taxes ············-·· 152,008,199 138,257,3 4 + 10 Other g ross receipts and production taxes ··---··-··········-········· 22,338,995 21,l 2,424 + 6 Insurance companies and other occupation taxes ··-·---··-····-······-··· 25,285,877 23,413,8 2 + Motor fuel taxes (net) ·--··-····-·······-· 164,702,698 157,326,129 + 5 Cigarette tax and licenses ----·-····--·· 45,706,555 44,352 ,13 + 3 Alcoholic beverage taxes and licenses ··-----·--···--···--·-··--·· 31,536,9 5 30,144, 70 Automobile and other sales taxes -·-22,701,016 23,054,046 Licenses and fees ·-·-·····--·-···-··-·········· 25,502,471 24,532,249 + 4 Franchise taxes --·--·-······-··-······-······ 34,861,635 31,817,51 10 Mineral leases, land sales, rentals, and bonuses ·······-·-·-·······-·-· 20,2 7,130 48,097,266 -58 Oil and gas royalties ----··-·-··-···--····--· 32,521,226 2 ,045,831 16 Interest earned .................................... 22,793,466 20,327,906 + 12 Unclassified receipts ---·---······-·-·-······· 58, 57,129 55,060,432 + 7 Other miscellaneous revenue ----·····-11,574,299 9,37 34 + 23 Federal aid for highways ····-·····-···· 72,242,004 53,191, 6 36 Federal aid for public welfare ----··-·-· 11 6,110,079 11 42,550 -2 Other federal aid ··-····-·----···--·-········· 17,6 3,253 15,617,675 + 13 Donations and grants ··---·-··--·-··-·-······ 373,708 254,342 + 47 **Change is less than one-half of one percent. Now that the drouth has broken, production will gradually increase. Whether it will increase sufficiently in time to depress cattle prices seriously, only time can determine. Meanwhile, those cattle that are on the ranges today, for the most part, are in good condition because of good pasture conditions, and the cattleman can continue to smile at prices like the mid-July $26.50 per 100 pounds for choice beef in Chicago, $4 more than a year ago. \! A full-time program designed for executives immed iately below the ma na gement level. top The University of Texas \! Limited enroll ment (24 persons). EXECUTIVE \! Outstandin g discussion leaders and guest speakers. DEVELOPMENT \! No formal education al requirements. No tests. PROGRAM\! Located at a qu iet retreat, away from the city. Subject matter includes: Or~anization a.nd Management, Business Poli~ies, February 23-March 28, \! Attitudes and Human Behavior, Marketing Management, Labor Rela ions, Managerial Accounting, and Business and Society. 1958 for details, call or write: EXECUTIVE DEVELOPMENT PROGRAM DIVISION OF EXTENSION THE UNIVERSITY OF TEXAS AUSTIN, TEXAS 15 OCTOBER 1957 Retail Trade: INDEX AT RECORD HIGH By TINA PIEDRAHITA The August index (192) of total retail sales in Texas (based on 1947-1949==100 and adjusted for seasonal variation) marks another all-time high. As in July, both the durable and nondurable indexes (175 and 200 respectively) were above the average month so far this year. Deflated for price changes, the total retail sales index stoo~ at 165, slightly higher than the index for July (164). With 2,669 retailers reporting in August unadjusted retail sales in Texas bettered July 1957 by'4%, topped August 1956 by 7%, and were ahead of January-August 1956 by 4%. Estimates of total retail sales for Texas rose from $998.7 million in July to $1,043.3 million and were substantially above the estimates for August 1956 ($973.1 million). After having shown a 1% increase in July over June, August sales of nondurable goods stores increased 7% over July, were 8% ahead of August 1956, and 3% over the cumulative eight-month period of last year. Although sales of durable goods stores remained unchanged from July 1957, they were 6% ahead of August 1956 and registered a 5% gam over January-August 1956. The poor showing durmg the month of August by both furniture stores and lumber and building material dealers is reflected in the slackening pace of sales by durable goods stores. The only increases over July in sales by durable goods stores were reported by farm implement dealers (+11%) and motor vehicle dealers (+3%). August sales of farm implement dealers were 46% above August 1956 sales motor vehicle dealers were 8% ahead and lumber and building material dealers registered a S% gain. For the comparative period, furniture and household appliance sto.re~ reported~ 2% drop in sales. Except for lumber and bmldmg material dealers (-5%) and furniture stores (-2%), durable goods stores showed an increase in sales over January-August 1956. In the nondurable goods stores tabulation, every category except gasoline and service stations and florists (each -5%) and men's and boys' clothing stores (-3%) averaged increases ranging from 27% to 4% over July. Best showings were made by unclassified apparel stores (+27%) ; women's ready-to-wear stores (+25%) · family clothing stores (+ 17%); shoe stores (+ 16%); 'jewelry stores (+ 14%); and food stores and country general stores (each + 10%). Best gains over August 1956 were ESTl MATES OF TOT AL RETAIL SALEi (Unadjusted for seasonal variation ) Percent change J an-Aug 1957 Aug 1957 Aug 1957 from Aug Jan-Aug from from Jan-AugType of store 1957 1957 J uly 1957 Aug 1956 1956 Millions of dollars TOTAL --------------------1,043.3 7,558.0 + 4 + 7 + 4 Durable goods ----------------335.8 2,402.6 • • + 6 + 5 Nondurable goods --------707.5 5,155.4 + 7 + 8 + 3 **Change is less than one-half of one percent. Retail Sales in Texas Index • Adjusted for seasonal variation • 1947-1949·100 200 200 v ; I.A!'v 150 150 ~ Jt~vu ,V\vv /'" 100 100 ,rv"' N ~ 50 50 1I--"' v tr ,,.._ 0 0 1940 '41 '42 '43 '44 '45 '46 '47 '48 '49 '50 '51 '52 '53 '54 '55 '56 '57 reported by food stores (+ 16%); jewelry stores (+ 11 % ) ; country general stores (+ 10%) ; and office, store, and school supply dealers (+9%). In the JanuaryAugust comparison, lines showing highest increases were unclassified apparel stores (+10%) ; office, store, and school supply dealers (+7%); food stores (+5%); and drug stores, gasoline and service stations, and liquor stores (each +4%). After showing a 14% increase over July and an 11 % increase over August 1956, jewelry stores dropped 6% in the cumulative eight-month period. In spite of the high showing for August over July (+16%) and an increase over August 1956 (+3%), shoe stores dropped 1% in the year-to-date comparison. · Sales of 275 Texas department and apparel stores (also unadjusted for price changes and seasonal variation) increased 11% over July and 4% over August 1956. Although there was a 19% average drop in sales from May to June, as well as a 1% drop for the first six months of 1957, January-August sales increased 1% over sales for the same period of last year. This increase is due largely to the excellent showing by both department and apparel stores for July over June (+7%) and for August over July. Twenty-five of the 33 cities reporting retail sales showed gains over July, 26 were ahead of August 1956, and 23 bettere~ January-A~gust 1956. In the August-to-August comparison, largest mcreases were reported by Plainview (+24%) ; Marshall (+22%) ; Lockhart (+ 19%) ; RETAIL SALES TRENDS BY KINDS OF BUSINESS Source: Bureau of Business Research in cooperation with the Bureau of the Census, U.S. Departm ent of Commerce Percent change in sales Number of reporting Aug 1957 Aug 1957 establish-from from Group ments July 1957 Aug 1956 DURABLE GOODS Automotive stores ----------------------------278 + 2 + 8 Furniture and h ousehold appliance stores ----------------------------163 4 2 Lumber, building material, and hardware stores ----------------------------308 -3 7 NONDURABLE GOODS Apparel stores ----------------------------------203 + 18 + 5 Drug stores ----------------------------------------133 + 5 + 8 Eating and drinking places __________ 101 4 8 + + + Food stores ----------------------------------------262 + 10 + 16 Gasoline and service station s __ _____ 822 5 3 + General merchandise stores ----------185 + 7 + 3 Other retail stores ----------------------------214 + 5 + 4 TEXAS BUSINESS REVIEW Brownsville (+ 16%) ; Brownwood and Edna (each + 12% ) ; Amarillo and Corsicana (each + 11 % ) ; and Austin, Port Arthur, and Temple {each +9%). Abilene (-6%); Fort Worth (-5%); and Corpus Christi and Houston (each -1% ) were the only cities reporting a drop in retail sales from August 1956. Leaders in the JanuaryAugust comparison were Cleburne ( + 12 % ) ; Lubbock { + 11 % ) ; Brownsville and Plainview (each + 10%) ; Austin and Brownwood (each +7%); and Amarillo and Marshall {each +6%). Changes in retail sales in 29 Texas cities for which reports are based upon a sample large enough to permit class) ification by type of business showed 22 cities ahead of July and 21 bettering both August 1956 and the JanuaryAugust 1956 period. Largest increases over July were posted by Corpus Christi and McAllen (each + 15%) ; Brownsville, Lubbock, and Temple (each+12%) ; Brownwood ( + 11 % ) ; Edna and San Angelo (each + 10%) ; Victoria (+9%); and Port Arthur (+8%). Leading in the August-to-August comparison were Brownsville (+25%); Lubbock (+23%); Brownwood (+22%); Sherman (+20%) ; Port Arthur ( + 19%); CorpusChristi ( + 18%); Wichita Falls (+ 14%); Amarillo (+ 13 % ) ; Marshall (+ 12 % ) ; Edna and San Angelo(each + 11% ) ; Austin and El Paso (each + 10%) ; and Bryan, Henderson, and Waco (each +9%). In the January-August comparison leaders were Brownwood { + 12%); Brownsville, Corpus Christi, and Plainview (each+11 % ) ; Amarillo and Port Arthur (each+10%);Lubbock (+9%) ; and Beaumont, El Paso, and Sherman (each +8%). In contrast to the gains shown by the majority of the cities reporting, retail sales in Greenville dropped 15% from August 1956; Fort Worth, McAllen, and Victoria registered a 4% drop; and Galveston dropped 2%. Also, not all cities showed gains in the same lines of business. For example Corpus Christi had an 18% increase in total sales over August of last year but show~d a 3% ?rop in appa_rel sales; Greenville registered a 4% mcrease m the same hne of business in spite of a 15% drop in total sales. Browns ville reported a 25% increase in total sales but registered a 6% drop in sales by lumber, building material and hard ware stores. However, it should be remembered that the sample on which the detailed. city ta~ulation is !11ade (and which is an attempt to furmsh retailers a basis fo~ com parison of their sales with sales of other types of husmesses in their community) is small enough to allow the results to deviate somewhat from possible results based upon complete information on retail sales of all stores in a given city. . The August ratio of credit sales to total sales m 62 Texas department and apparel stores (65.9%) was. higher than the July ratio (64.7%) and also above the rat10 for August 1956 (64.8%). In fact, the August 1_957 ratio was _higher than that for any August in the precedmg five years, includ ing that for August 1955 (62.6%) ; 195~ (65.~%) ; 1953 (63.1 % ) ; and 1952 (65.4%). Y~t the high ratio fo~ August 1957 still fell b~low the ratio for l\'!arch 1951 (69.4%), the highest rat10 reported so far this year. By cities highest August ratios were reported by Dallas (70.2'3), Houston (66.0%), Fort Worth (65.8%), and Austin (63.5%). By type of store, leaders were dry goods and apparel stores (73.2%) ; men's clothing stores (68.3 %) were followed closely by women's specialty shops {68.0%). The August ratio of collections during the month to accounts unpaid at the first of the month stood at 35.77<,-. Although this ratio was lower than the ratio reported for July (37.3%), June (38.4%), or May (37.l %) , it still remained higher than the ratio for August 1956 (34.2';( I. Largest reported collections were in Austin (50.8% ).Bryan (50.3%), Waco (43.0%), and San Antonio (41.2%). By type of store, dry goods and apparel stores (54.2%), men's clothing stores (46.7%), and women's specialty stores ( 42.0%) were the leaders. Improvements over last year's collections were reported by Bryan, San Antonio, Cleburne, and Dallas; and, by type of store. women's specialty shops and the larger department store~~ (sales over $1 million) reported collections higher than a year ago. POSTAL RECEIPTS Percent change July 2 -July 2 Dollars Aug 23 '57 Aug 23 '57 from from J uly 28-June 29-July 27-J une 29-J uly 27Aug 23 July 26 Aug 22 July 26 Aug 22 City 1957 1957 1956 '57 '56 Alice ------------------------10,053 11,329 io,288 -11 -2 Bay City -----------------· 8,564 9,226 7,294 -7 + 17 -----------·-···· - Borger -----13,921 12,085 14,353 + 15 3 Brady 2,787 3,060 3,102 -9 -10 --·--···------- -----------·········· · Brownfield 5,806 6,04 5, 65 -4 -1 Cameron -----------------3,080 4,4 3, 00 -31 -19 - Childress ····---------------3,237 3,677 -12 Cleburne --------------------9,490 9,106 8,469 + 4 + 12 Coleman --------------------4,469 3,458 3,245 + 29 + 3 Crystal City 5,634 3,303 4,320 + 71 30 Cuero --------------------------4,036 4,026 3,9 8 •• + 1 Eagle Pass 4,089 6,252 4,084 -22 .. Edinburg ------------------7,845 7,165 6,339 + 9 + 24 Edna --------------------------4,000 3,838 3,025 + 4 + S:l El Campo --------------·· 7,403 6,422 8,594 + 15 -14 Gainesville ------------·--11,378 9,944 + 14 Gilmer ------------------·-----4,983 - 3,147 3,265 37 4 --------------------·· Graham 5,908 6,102 4,973 -3 I!) Granbury 2,488 2,866 1,754 -18 + 42 Hale Center 1,373 1,437 1,210 -4 + 13 Hillsboro --------------------+ 9,075 4,834 9,204 -i 6,942 + 36 Jacksonville ------------12,403 14,046 10,855 -12 + 14 --·---- Huntsville ------------------8,100 Kenedy -------------2,410 2,739 2,756 -12 -13 Kermit -·------------·-------6,634 4,913 4,537 + 15 + 24 ----------·-------·· Kerrville 8,679 7,734 7,660 + 12 + 13 Kingsville ----------------8,998 10,776 9,103 -16 -1 Kirbyville ----------------·-2,378 1,885 1,265 + 26 + 9 3,356 3,142 2,602 7 + 29 La Grange -------------··· + Levelland ---·----------·---4,819 5,115 4,839 -6 •• 3,734 10 + 10 Littlefield -····------······-4,094 4,546 Lockhart 2,800 2,847 -2 -·-·-··---··--···-·- Luling 2,721 2,928 2,417 -7 + 13 ----·--··---·--·· ···--· McCamey ·····-····-··-----5,126 3,003 4,933 + 71 + 4 4,956 4,3 5 5,161 + 13 -4 Marlin -----·--··-··--·------- 6,395 5,995 5,195 7 + 23 Mission -----·--·-·-----·-·-·· + Nacogdoches -·----·----· 9,976 11,671 10,673 -15 -7 3,740 3,211 -11 4 Navasota ---------------·-··· 3,344 + 39,973 1 + 11 Odessa --·----····-·------···-· 44,533 44,104 + Pecos -----·-····-·--·---······ 7,279 10,377 7,142 -30 + 2 Pittsburg -·-···---········· 2,269 2,119 + 7 Raymondville ------······ 4,591 6,424 5,1 3 -29 -11 7,546 7, 15 8,075 -3 -6 S'.l.n Marcos ----·--···--·· Seguin -·-·· ··----7,177 6,920 6,709 + 4 + 7 -----· -·····- Sulphur Springs -·--5,219 6, 089 5,425 -14 -4 2,085 2,371 2,084 -12 Taft -----------·-···--·····---5,561 4,719 5,582 + I ••Terrell ·-·------------··--····· - 8,108 9,658 16 Yoakum ------------------- W axahachie --------·---- 8,098 8,160 -1 ••Ohan~• ii Iesa than one-bal! of one percent. OCTOBER 1957 Local Business Percent change Percent change City and item Aug 1957 Aug 1957 from July 1957 Aug 1957 from Aug 1956 City and item Aug 1957 Aug 1957 from July 1957 Aug 1957 from Aug 1956 ABILENE (pop. 55,ooor) Retail sales General merchandise stores ---------------Lumber, building material, and hardware stores ------------------·------------Postal receipts• -------------------------------------$ Building permits, less federal contracts.. $ Bank debits (thousands) -------------------$ End-of-month deposits (thousands)t... $ 65,304 1,332,993 85,530 69,973 + + + 13 1 6 6 4 -9 + 29 -3 -10 + 16 + 4 BAYTOWN (pop. 22,983) Postal receipts• ----------------------------------------$ Building permits, less federal contracts$ Bank debits (thousands) ----------·-----------$ End-of-month deposits (thousands) ____ $ Annual rate of deposit turnover__ _______ ___ _ Employment (area) --------------------------------Manufacturing employment (area) .. Percent unemployed (area) ------------------ 15,310 383,52() 22,65() 22,607 10.9 435,700 95,675 3.3 -12 -12 •• -18 + 7 + + 1 8 + 5 -26 + 22 6 + 15 + 6 + Annual rate of deposit turnover -----------Employment -------------------------------------------· Manufacturing employment --------------Percent unemployed --------------------------------- 16.8 30,300 3,720 6.2 •• ,;: ;"! *'..c + 8 + + 10 + 11 BEAUMONT (pop. 104,416r) Retail sales ·-·---------------------------------------------Apparel stores -·--···----------------------------- + 4 + 37 + + 31 Automotive stores ---------------------------- 4 + 11 ALPINE (pop. 5,261) Postal receipts* -------------------------------------$ Building permits, less federal contracts $ Bank debits (thousands) ----------------------$ End-of-month deposits (thousands) t ....$ Annual rate of deposit turnover -----------2,813 1,000 2,383 4,181 6.9 -19 -93 ** ** -1 -6 -95 -1 •• -3 Eating and drinking places --------------Food stores ----------------------------------------· Furniture and household appliance stores ------------------------------Gasoline and service stations -----·--·---General merchandise stores ---------------Lumber, building material, and + 3 4 + 14 -2 + 24 + 13 + + 2 hardware stores ----------------------·--------- + 7 + 38 AMARILLO (pop. 125,049r) Retail sales ----------------------------------------------Eating and drinking places --------------Florists ·------------------------------------------------Furniture and household appliance stores ------------------------------Gasoline and service stations ----------Lumber, building material, and + 6 + 8 + 15 -34 + 6 + 13 + 14 + 19 -12 + 13 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) -----------------85,888 1,26(),919 153,427 105,084 17.3 88,100 29,900 4.() + 7 7 3 6 + 2 + -18 + 6 -1 + 11 + 1 + 9 + 2 + 2 5 hardware stores ------------------------------ -16 5 Building permits, less federal contracts..$ Bank debits (thousands) ----------------------$ End-of-month deposits (thousands) t ....$ Annual rate of deposit turnover -----------Employment ---------------------------------------------Manufacturing employment ------------Percent unemployed -----------------------------1,914,059 180,438 104,215 20.5 48,400 6,400 3.7 -6 -11 -2 -12 ** •• -20 + 29 + 10 + + 9 + 4 + 2 12 BEEVILLE (pop. 10,500r) Postal receipts* --------------------------------·------$ Building permits, less federal contracts $ Bank debits (thousands) ------------------------$ E nd-of-month deposits (thousands)t..$ Annual rate of deposit turnover --·--------· 8,209 183,355 9,113 12,925 8.5 + 15 + 33 + 8 + 1 1 + 8 -29 + 10 + 1 + 9 ARLINGTON (pop. 27,550r) Postal receipts* -----·-·· .. -------------------------$ Building permits, less federal contracts $ Employment (area) -------------------------------21,338 1,754,442 194,800 + 6 + 57 -1 + 18 +276 -2 BIG SPRING (pop. 24,442r) Retail sales ----------------------------------------------Apparel stores --------------------------------------Lumber, building material, and hardware stores ------------------------------ + 2 -12 -6 + -23 Manufacturing employment (area) .. Percent unemployed (area) ------------------- 57,325 5.9 - 3 •• -12 + 44 Pootal receipts* ----------------------------------------$ Building permits, less federal contracts $ 21,357 238,525 + 29 -32 + 12 -2 AUSTIN (pop. 168,500r) Retail sales --------------------·-···-------------- + 1 + 10 Bank debits (thousands) __________ _____________ _$ End-of-month deposits (thousands)+----$ Annual rate of deposit turnover ---------32,811 23,013 17.1 -- 2 •• 8 + 13 -14 + 34 Apparel stores . -----------------------------·--· Automotive stores ----------------------------·- + 3 -15 + 17 + 27 BRENHAM (pop. 6,941) Eating and drinking places ----------·· + + 2 Postal receipts* -------------------------------------$ 5,319 - 7 + 26 Food stores -----------------------------··------ - 6 + 4 Building permits, less federal contracts $ 23,275 -28 -79 Furniture and household Bank debits (thousands) ---------------------$ 7,056 + 8 + 3 appliance stores ···----------------------------- + 27 + 21 End-of-month deposits (thousands) t ....$ 11,317 2 -12 Gasoline and service stations -----·------- + 7 + 4 Annual rate of deposit turnover ---------- 7.4 + 9 -30 Lumber, building material, and hardware stores ------------------------------Postal receipts* ____ ------------. --------------------$ 253,464 + 3 + 16 ** + 3 BROWNSVILLE (pop. 36,066) Building permits, less federal contracts $ 6,734,618 + 23 + 84 Retail sales --------------------------------------------- + 12 + 25 Bank deb-its (thousands) ..... ····--······-----$ 170,035 + 1 + 15 Automotive stores --------·--·------------------- + 22 + 23 End-of-month deposits (thousands) t ....$ 118,697 - 6 + 4 Lumber, building material, and Annual rate of deposit turnover ----------- 16.7 + + hardware stores --------· __ ---------------- + 8 Employment ----------------------------------------Manufacturing employment -------------· 70,500 5,270 ** 1 + 2 + 2 Postal receipts* -----------------------------------------$ Building permits, less federal contracts $ 22,065 148,213 6 + IO + Percent unemployed ---------------------------- 3.9 + 3 + 3 For explanation of symbols, see page 23. TEXAS BUSINESS REVIEW Conditions Percent change Per~ent change City and item Aug 1957 Aug 1957 from July 1957 Aug 1957 from Aug 1956 City and item Aug 1957 Aug 1957 from July 1957 Aug 1957 from Aug 1956 BROWNWOOD (pop. 20,181) DALLAS (pop. 538,924u) Retail sales ............................................. . Apparel stores ------·-----------·--·----·--····· . Automotive stores ------·----·--··--···-----·--·· ·· · Furniture and household + 11 + 2 + 22 + 22 + 10 + 42 Retail sales ................................................. . Apparel stores ........................................ Automotive stores ................................ . Drug stores ·········-· ----·········-·················- + + 27 + + + 10 + + 17 + 10 appliance stores ............................... Postal receipts• ·-----···------··--------------------·$ Building permits, less federal contracts $ Bank debits (thousands) ---------·------------·$ End-of-month deposits (thousands) + .... $ Annual rate of deposit turnover -------·---16,618 60,123 10, 703 11,864 10.3 -3 + 7 -29 5 + 11 -81 + Eating and drinking places ..... ....... . . Florists ·-·-··· ·---·-·······---······-·······-···· ......... Food stores ......................................... . Furniture and household appliance stores ............................. __ Gasoline and service stations General merchandise stores .............. . + + -18 -3 + 6 + -+ 3 15 2 16 4 4 BRYAN (pop. 23,883r) Jewelry stores ..................................... Lumber, building material, and + 22 + 20 Retail sales --------------------------------------·-····--- + + 9 hardware stores .................... .......... + 31 Apparel stores -------···---------------------------· Automotive stores -----------------------·----·· -18 + 7 + 5 + 33 Office, store, and school supply dealers ............. ···----·-············· + + 15 Furniture and household Postal receipts* --------······-.......................$ 1,587 ,423 + 11 + appliance stores --------------------------····Postal receipts• ---------·----------------------------·$ Building permits, less federal contracts $ 16,150 243,295 + 4 -17 -20 + -18 -19 Building permits, less federal contracts $ 9,308,122 Bank debits (thousands) ....................... $ 2,306,304 End-of-month deposits (thousands)+....$ 978,057 Annual rate of deposit turnover ............ 27.8 -50 + + + + + + 12 CISCO (pop. 5,230) Postal receipts* ···········--------------·---·-------·-$ Bank debits (thousands ) ---·······----------·$ End-of-month deposits (thousands)+.... $ Annual rate of deposit t urnover ----·------2,934 2,469 3,635 8.2 -16 -11 ** -9 -17 4 2 Employment (area) ............. ................. Manufacturing employment (area) .. Percent unemployed (area) . __ . DENTON (pop. 21,372) Retail sales Department and apparel stores 345,300 91,875 2.4 + .. 17 + 1 + + + 11 CORPUS CHRISTI (pop. 165,458u) Retail sales ---------------------------------·---------·--Apparel stores -----· ·---------·-·-----·--------·-··· Automotive stores ----------·--------··----· -···· + 15 ** + 10 + 18 -3 + 16 Postal receipts* ················--·····-······· ........$ Building permits, Jess federal contracts $ Bank debits (thousands) ...... _ .. $ End-of-month deposits (thousands) :j: $ Annual rate of deposit turnover 16,713 230,650 14,336 16,013 10.7 + 13 8 -2 + 124 + 14 + 19 Lumber, building material, and hardware stores ------------------------------ ** + 15 EL PASO (pop. 244,400r ) Retail sales ................................................ . + 5 + 10 Postal receipts* ------------------·------------------·-··$ Building permits, less federal contracts $ Bank debits (thousands ) --------------------·$ End-of-month deposits (thousands) + ....$ Annual rate of deposit turnover -------·-Employment ·---·--·------------··-------------······· Manufacturing employment ------------··· Percent unemployed -· -----------------------------122,708 1,488,228 207,515 112,861 22.0 65 ,000 8,400 4.2 + 3 + 19 + 5 -1 + 2 ** ** -12 + 3 + 46 + 13 + 2 + 9 + + 7 Apparel stores ....................................... . Automotive stores ···············-----·-··---······ Drug stores ................... -.................... General merchandise stores ............... . Piano and musical instrument stores Postal receipts* ........................................ $ 178,297 Building permits, less federal contracts $ 2,456,932 Bank debits (thousands) .............. . . ....$ 272,786 End-of-month deposits (thousands) :j: .$ 141,246 + 19 + + + 15 -19 -10 -32 2 + + 5 + 24 + 13 -2 + 15 -3 + 20 + 10 + 11 CORSICANA (pop. 19,2ll) Retail sales Apparel stores -----------------------····----------Postal r eceipts• -·-········----------------·-------------$ Building permits, less federal contracts $ Bank debits (thousands) ------------------------$ End-of-month deposits (thousands) + .... $ Annual rat e of deposit t urnover ----------DEL RIO (pop. 14,2ll) Postal receipts* ···---·-···-----·-······----·--------·.$ Building permits, less federal contracts $ Bank debits (thousands) -------·-···----------·$ End-of-month deposits (thousands)+....$ Annual rate of deposit turnover ----------- 12,095 131,900 16,704 21,622 9.2 8,511 52,670 8,157 10,189 9.4 + 19 -36 + 1 + 3 -18 + 1 -15 -3 + 13 -46 + 62 + 12 + 2 + 8 -25 -66 -7 11 + 3 Annual rate of deposit turnover . . 23.5 Employment .............................. ... . . . ..... 79,300 Manufacturing employment ...... ... .. 13,210 Percent unemployed 3.6 FORT WORTH (pop. 315,5'tsu) Retail sales ···················-····-------····--······· .... . Apparel stores ---·--···············-·······-·-· ..... Automotive stores --·---·----------················· Drug stores --·························----·············· Eating and drinking places .............. Food stores ........................................... . Furniture and household appliance stores ................................. Gasoline and service stations ·-·--·-···· .. General merchandise stores ................ Lumber, building material, and hardware stores .................... . + 1 + 2 -16 + + + 2 ** + 2 + 2 + .. + 19 5 + + + -25 -4 -13 -4 •• -4 •• -6.. DENISON (pop. 17,504) Retail sales Automotive stores .....---------········------····· Postal receipts* ----------·-·· --·········---·-------···· $ Building permits, less federal contracts 3 Bank debits (thousands) -------·······----· S End-of-month deposits (thousands) :t $ Annual rate of deposit turnover ------·· -· 17,180 73,189 15,439 17,406 12.2 + 15 + 43 -63 + 1 + 35 ** + 15 + 12 65 + 10 + 2 + 21 P ostal receipts* ··························--·--·--·--·--$ Building permits, less federal contracts $ Bank debits (thousands) -----········ --······ $ End-of-month deposits (thousands ) t . $ Annual rate of deposit turnover ............ E mployment (area) ........................... ······ Manufacturing employment (area) -Percent unemployed (area) ----············ 507,460 3,425,791 684,287 362,664 22.7 194,800 57,325 5.9 + 5 -38 8 5 1 3 •• -3 -44 + 1 5 + 3 2 -12 + 44 19 OCTOBER 1957 LOCAL BUSINESS CONDITIONS Percent change Percent change City and item Aug 1957 Aug 1957 from July 1957 Aug 1957 from Aug 1956 City and item Aug 1957 Aug 1957 from July 1957 Aug 1957 from Aug 1956 GALVESTON (pop. 71,52711 ) Retail sales ---··············································· Apparel stores ········-·············-·····-·······-··· Lumber, building material, and hardware stores -------------------------------Postal receipts* ..........................................$ Building permits, less federal contracts $ Bank debits (thousands) ···········-····· _____$ End-of-mon th deposits (thousands) :j:.... $ Annual rate of deposit turnover ········-··· Employment (area) ·····························--· Manufacturing employment (area) .. Percent unemployed (area) ················---70,337 169,607 105,678 67,409 18.6 49,600 12,010 5.6 4 + 14 -21 + 9 -16 1 -3 + ** ** -7 -2 ** -4 + 4 + 24 -4 -7 •• + 4 + 3 + 6 HENDERSON (pop. 11,606) Retail sales ············-··························-········· Apparel stores ······························-······· Automotive stores ····················-············· Drug stores ··········-··································· Postal receipts* ·----··········---------------·-··········$ Building permits, less federal contracts $ Bank debits (thousands) ----------·············$ End-of-month deposits (thousands)+.... $ Annual rate of deposit turnover ........... . HEREFORD (pop. 8,500) 7,449 71,000 7,405 12,625 6.6 •• + 10 + 3 + 5 -70 ** -11 + 6 + 9 + 9 + 15 + 20 •• + 35 + 18 -11 + 25 GARLAND (pop. 10,571) Postal receipts* ---------·-·············-----------·------$ Building permits, less federal contracts $ Bank debits (thousands) --------------_____ $ End-of-month deposits (thousands)+.... $ 15,252 1,057,165 17,511 13,913 + 1 + 155 2 + 4 + 13 + 156 + 14 + 4 P ostal receipts* ···············--·-··············--·-----$ Bank debits (thousands) ........................ $ End-of-month deposits (thousands)+----$ Annual rate of deposit turnover ........... . 6,941 12,069 10,049 13.9 + 3 + 14 6 + 10 + 39 + 11 -14 •• Annual rate of deposit turnover ........... . Employment (area) ............................... . Manufacturing emploYm.ent (area) .. Percent unemployed (area) ................... . 15.4 345,300 91,875 2.4 + - 4 ** 17 + 11 + 4 + 8 4 HOUSTON (pop. 700,508u) Retail salesrr ················································ Apparel stores ··························--·-------- + + 17 •• GIDDINGS (pop. 2,532) Postal receipts* .......................................... $ Bank debits (thousands) ........................$ End-of-month deposits (thousands)+.... $ Annual rate of deposit turnover ............ GLADEWATER (pop. 5,305) Postal receipts* ·····························---·······---$ 1,887 1,924 3,481 6.8 3,710 8 + 5 3 -8 + + + 1 + 8 -2 Automotive stores ···········-···················· Drug storesIT --·······················-····· -····-······· Eating and drinking placesIT ·······-········ Food stores ·············-··········-···-················· Furniture and household appliance stores --····························· Gasoline and service stations ............ General merchandise stores ................ Lumber, building material, and ** + + 6 + -10 1 + 2 + + 2 + 12 •• Bank debits (thousands) ........................$ End-of-month deposits (thousands)+....$ Annual rate of deposit turnover ........... . Employment (ar ea) ·····················-········-··· Manufacturing employment (area) .. 3,855 4,179 11.1 25,850 5,090 + + ** *"' ** ** + •• + 3 + 8 hardware stores I ········-······················· Other retail stores --······························· P ostal receipts* ············---------···················$ 1,136,754 Building permits, less federal contracts $21,362,700 Bank debits (thousands) ........................ $ 2,273,279 + + + 14 + 12 4 -2 •• + 14 + 52 ** Percent unemployed (area) ---·-·-·······-·· 3.7 - 10 3 End-of-month deposits (thousands)+.... $ 1,198,247 GOLDTHWAITE (pop. 1,566) P ostal receipts* ......................................... $ 1,278 Bank debits (thousands) ··················-----$ 2,773 End-of-month deposits (thousands)+....$ 3,341 -15 ** 2 -21 -15 + Annual rate of deposit turnover ............ Employment (area) ··········-··-········-········· Manufacturing employment (area) .. P ercent unemployed (area) .................... 22. 7 435,700 95,675 3.3 + + 2 8 + + + 4 6 Annual rate of deposit turnover ·····-······ 9.9 + 3 -17 GRAND PRAIRIE (pop. 14,594) Postal receipts* ------··········-·············-··········-$ 14,641 Building permits, less federal contracts $ 192,952 Employment (area) ................................ 345,300 Manufacturing employment (area) .. 91,875 -7 -56 + 1 ** -4 -35 + 4 + 8 IRVING (pop. 40,065r) Postal receipts* ..........................................$ Building permits, less federal contracts $ Employment (area) ................................. . Manufacturing employment (area) .. 11,982 643,531 345,300 91,875 + 8 -55 + 1 •• + 18 -76 + 4 + Percent unemployed (area) .................... 2.4 - 17 4 Percent unemployed (area) ................... . 2.4 - 17 GREENVILLE (pop. 17,500r) P ostal receipts* ..........................................$ Apparel stores ........................................ 14,669 + 9 -22 + 2 + 4 JASPER (pop. 4,403) Lumber, building material, and hardware stores .................................. Postal receipts* ······-····················· ......... $ Building permits, less federal contracts $ Bank debits (thousands) .......... ............ $ End-of-month deposits (thousands )+--$ 14,669 197,875 12,629 14,152 + 12 + + 73 -15 -2 ** + 2 + 44 4 R etail sales Automotive stores ············-·············-······· Postal receipts* --------------------------------------$ Bank debits (thousands) ---------------------$ End-of-month deposits (thousands) :f:.... $ Annual rate of deposit turnover ............ 5,175 6,101 6,700 10.9 -3 + 21 -10 •• -6 + 11 + 2 2 + 2 Annual rate of deposit turnover ----········ 10.6 -15 + 2 HARLINGEN (pop. 30,038r) Retail sales Automotive stores ................................. . Lumber, building material, and hardware stores ·····-·····-·······-·············· P ostal receipts* ·························-···············-$ Building permits, less federal contracts $ Bank debits (thousands) ........................ $ End-of-month deposits (thousands)+....$ Annual rate of deposit turnover ........... . 27,502 363,755 61,059 28,351 25.3 + 13 13 -3 -4 -14 + 19 + + 12 -14 3 + 8 9 KILGORE (pop. 9,638) Postal receipts* .......................................... $ Building permits, less federal contracts $ Bank debits (thousands) -----------------------$ End-of-month deposits (thousands) :f: ---S Annual rate <>f deposit turnover ........... . Employment (area) --------------············-···· Manufacturing employment (area) .. Percent unemployed (area) ................... . 9,367 123,004 16,797 16,256 12.4 25,850 5,090 3.7 + 2 6 2 •• •••• -10 -2 + 20 + 11 + 4 + 6 + 3 + 8 3 TEXAS BUSINESS REVIEW LOCAL BUSINESS CONDITIONS City and item KILLEEN (pop. 21 076r) Postal receipts• ---------·-----------~--------------------$ Building permits, less federal contracts $ Bank debits (thousands) -----------------·------$ End-of-month deposits (thousands)+----$ Annual rate of deposit turnover ----------- LAMESA (pop. 10,704) Postal receipts• ----------·-··----------------------------$ Building permits, less federal contracts $ Bank debits (thousands) -----------------------.$ End-of-month deposits (thousands) +....$ Annual rate of deposit turnover ----------- LAMPASAS (pop. 4,869) Postal receipts• ----------------------··-----------------·$ Building permits, less federal contracts..$ Bank debits (thousands) ··-·-----------------···$ End-of-month deposits (thousands)+....$ Annual rate of deposit turnover ----------- LAREDO (pop. 59,350r) Postal receipts• ·-----·---···-----------------------··----$ Building permits, less federal contracts $ Bank debits (thousands) ------------------------$ End-of-month deposits (thousands)+....$ Annual rate of deposit turnover ··-··-··--- LLANO (pop. 2,954) Postal receipts• ------------------------------------------$ Bank debits (thousands) -----·-·----------------$ End-of-month deposits (thousands)+....$ Annual rate of deposit turnover ----------- LONGVIEW (pop. 34,328r) Postal receipts• ------------------------------------------$ Building permits, less federal contracts $ Bank debits (thousands ) ______________ ___ _______ $ End-of-month deposits (thousands)+....$ Annual rate of deposit turnover ---------- Employment (area) ------------------------------·· Manufacturing employment (area) .. Percent unemployed (area) ------------------- LUBBOCK (pop. 134,156r) Retail sales --------------------------------·-··----------·-- Apparel stores -------------------------------··-·-·-- Furniture and household appliance stores --------------------------------- Lumber, building material, and hardware stores ------------------------------··· Postal receipts• ---····--·--·-----··----------------------$ Building permits, less federal cont racts $ Bank debits (thousands) --------------···--··---$ End-of-month deposits (thousands ) +---$ Annual rate of deposit turnover -----------· Manufacturing employment (area) .. Employment (area) --------·-···----------·····--- Percent unemployed (area) ------------------- LUFKIN (pop. 18,600r) Postal receipts• -----------------------·-----------------$ Building permits, less federal contracts $ Bank debits (thousands ) ------------------------$ End-of-month deposits (thousands ) +....$ Annual rate of deposit turnover ----------- Aug 1957 26,141 87,763 6,854 6,145 11-8 7,720 87,830 10,393 10,707 11.4 8,265 55,000 4,788 6,533 8.8 22,612 173,263 24,018 19,854 14.4 1,4!!4 3,465 3,483 12.4 28,873 645,519 40,640 36,849 13.1 25,860 6,090 3.7 98,719 1,532,466 132,538 94,164 16.8 4,330 43,800 5.0 13,382 258,550 22,015 21,502 12.6 Percent change Aug 1957 Aug 1957 from from J uly 1957 Aug 1956 + 21 + 37 + 33 + 7 -4 3 -22 + 8 + 5 -15 2 + 9 5 -68 + 2 + 27 4 -4 + 8 + 33 + 5 + 13 + 1032 + 378 - 7 •• + - 7 - 9 + 3 - 91 -12 + 3 + 13 2 + 7 + 4 + 6 - 17 -3 + 28 + 19 + 8 -7 + 20 + 29 - 7 + 3 - 68 +170 + 5 + 13 -2 + + 3 + 10 •• + 3 •• + 8 -10 3 12 23 7 + + + 5+ + + 19 + 35 + 7 + 8 - 32 -10 •• + 13 - 1 + 11 + + 3 •• 4 •• + 2 •• 2 - 9 -13 + 48 + 42 1 + 32 5 -6 5 + 50 + Aug City and item 1957 McALLEN (pop. 25,326r) Retail sales ----------·---------------···-----------------+ 15 -' Automotive stores + 7 -15 Postal receipts• __ ______ :~::~::::::::::::::::::::::::::::$ 36,968 + 90 + 11 Building permits, less federal contracts 162,520 -6 + 24 Bank debits (thousands) --------_______________ $ 21,514 -6 + 6 End-of-month deposits (thousands)+---$ 20,451 + 11 + 17 Annual rate of deposit turnover ------------13.3 -13 + M~~y (pop. 10,560) Bmldmg permits, less federal contracts $ 96,125 - 19 + 11 Bank debits (thousands) --------------------. 6,922 9 - 7 End-of-month deposits (thousands) :t: .. $ 11,422 + 3 - 5 Annual rate of deposit turnover -------- .8 3 MA_RSHALL (pop. 25,479r) + 12 Apparel stores ---------------------------------------4 + 26 Drug stores ---------------------------------------------+ 2 General merchandise stores --------------· + + 6 Postal receipts• . --------------------------------------$ 15,955 7 •• Building permits, less federal contracts $ 196,339 + 7 + 78 Bank debits (thousands) ··---------------------$ 14,5 2 + End-of-month deposits (thousands) :t: ...$ 19,934 + -3 Annual rate of deposit turnover__ _________ .8 Retail sales --------------------------------------------- MERCEDES (pop. 10,081) Postal receipts• -----·------------------------------$ 3,992 . .. Building permits, less federal contracts..$ 43,000 +542 + 5 Bank debits (thousands) -------------------·-$ 8,219 + 12 -6 End-of-month deposits (thousands)+....$ 7,147 + 3 + 31 Annual rate of deposit turnover ---------14.0 -10 -29 MIDLAND (pop. 42,600r) -10 Building permits, less federal contracts $ 1,443,000 -18 + Bank debits (thousands) _________ -------····· $ 76,211 5 + 8 Postal receipts• ··-----------------------·----------$ 49,655 •• . End-of-month deposits (thousandsH __$ 80,741 Annual rate of deposit turnover ---------.. 11.3 + MONAHANS (pop. 6,311) Postal receipts• ----------·--------·---------$ 5,438 + 3 + 1 Building permits, less federal contracts $ 1 4,600 + 26 + 2 Bank debits (thousands) ------------------······$ 9,330 + 17 End-of-month deposits (thousands)+--·,6 3 4 + 23 Annual rate of deposit turnover --------- 12.7 9 -5 NEW BRAUNFELS (pop. 12,210) 15, 78 + 40 + 31 Building permits, less federal contracts $ 63,330 -10 + 14 Bank debits (thousands) --------------------·- Postal receipts• -------···-----------------------------$ 9,550 + 5 + 14 End-0£-month deposits (thousands) t __ 9,619 + + 3 Annual rate of deposit turnover ......... __ 12.2 15 ORANGE (pop. 21,174) 14,4 6 -6 2 Postal receipts• ----------------------------------$ Building permits, less federal contracts $ 239,101 -31 4 Bank debits (thousands) ...... --------------$ 21,637 2 5 25,026 + 2 1 End-of-month deposits (thousands) t --$ 10.5 4 + 8Annual rate of deposit turnover ----------- PALESTINE (pop. 15,063r) 8,291 -7 -14 Postal receipts• ----------------------------------$ Building permits, less federal contracts $ 63,4 5 -30 21 7,204 -10 -1 Bank debits (thousands) ------------------------$ End-0f-month deposits (thousands)+....$ 13,379 + 2 -2 .. 6.5 -11Annual rate of deposit turnover ------- OCTOBER 1957 LOCAL BUSINESS CONDITIONS Percent change Percent change City and item Aug 1957 Aug 1957 from July 1957 Aug 1957 from Aug 1956 City and item Aug 1957 Aug 1957 from July 1957 Aug 1957 from Aug 1956 PAMPA (pop. 20,448r) Retajl sales Automotive stores ----------------·------· --···-Postal receipts• .......................................... $ Building permits, less federal contracts $ Bank debits (thousands) ······-·-····-·-········$ 14,871 617,240 19,444 + 8 -10 + 30 3 + 29 + 6 +185 + 16 ROCKDALE (pop. 4,550r) Postal receipts• ........ ... ........................... $ Building permits, less federal contracts $ Bank debits (thousands) ........................ $ End-of-month deposits (thousands) t ....$ Annual rate of deposit turnover -·-··-······ 3,367 42,382 3,791 5,368 8.5 -1 + 73 + 6 + + + 12 +229 + 4 + •• End-of-month deposits (thousands) t .... $ Annual rate of deposit turnover ............ 22,298 10.3 2 6 + + 6 8 SAN ANGELO (pop. 62,359r) Retail sales ·····-···················-···-···················· + 10 + 11 Building permits, less federal contracts $ 371,838 8 -25 PARIS (pop. 21,643) Retail sales --------------------------------------------· Apparel stores ------------------------------------Automotive stores ----------------------------Lumber, buildin~ material, and hardware stores ------------------········--·· + 1 + 8 + 18 + 8 + 16 + + 80 Bank debits (thousands) ........................ $ End-of-month deposits (thousands) t ....$' Annual rate of deposit turnover ........... . Employment ········-······································ Manufacturing employment ............... . Percent unemployed ········-··-········-············· 47,452 42,129 13.4 23,500 3,000 4.7 + + 8 2 1 1 4 + 5 -8 + 13 + 2 + 5 6 Postal receipts• .......................................... $ Building permits, less federal contracts $ 12,424 686,926 +533 -5 +693 SAN ANTONIO (pop. 449,52lu) Bank debits (thousands) ........................ $ End-of-month deposits (thousands) t....$ Annual rate of deposit turnover ............ 13,741 14,161 11.6 - 9 •• 5 4 5 Retail sales ············-······--·-·-····················-·· Apparel stores ....................................... . Automotive stores ................................. . Drug stores ·-···························-·············· Eating and drinking places ............... . ........... . + + 19 + 4 + 5 + 7 + + + 5 2 PASADENA (pop. 22,483) Food stores ··············-······························ Furniture and household + 6 + Postal receipts• .......................................... $ 22,483 - 1 + 3 appliance stores ................................. . + Building permits, less federal contracts $ 812,672 + 38 -82 Gasoline and service 11tations ........... . -23 Employment (area) -·-······--·---················ 435,700 + 1 + 6 General merchandise stores ·············-· - 3 + Manufacturing employment (area) .. 95,675 + + 4 Lumber, building material, and Percent unemployed (area) ·····-------------·· 3.8 8 hardware stores ................................. . Postal receipts• .......................................... $ 518,276 -14 •• + 9 + 2 Building permits, less federal contracts $ 4,835,095 + 16 PHARR (pop. 8,690) Postal receipts• -································-··-···$ 8,537 Building permits, less federal contracts $ 21,520 Bank debits (thousands) ........................ $ 3,958 End-of-month deposits (thousands) t....$ 3,837 Annual rate of deposit turnover ............ 11.6 -10 -47 + 14 -11 -1 -1 -22 + 12 + 6 + 5 Bank debits (thousands) ........................ $ End-of-month deposits (thousands) t ....$ Annual rate of deposit turnover ............ Employment ................................................ Manufacturing employment .............. Percent unemployed ·········-··················.···· 532,004 341,355 18.6 186,000 22,450 4.1 --- 1 2 •••• 7 + 7 2 + •• 4 + 8 PLAINVIEW (pop. 14,044) Retail sales ----------------·---------···-------------Apparel stores ----------------------------·--·---Automotive stores ··-------------------------Furniture and household appliance stores -------------------------------Building permits, less federal contracts $ Bank debits (thousands) ........................ $ 149,800 19,812 -8 -3 -12 -10 -83 -1 + 27 •• + 9 + 2 + 9 SHERMAN (pop. 25,855r) Retail sales ---··············-···-····················· ...... . Apparel stores ....................................... . Furniture and household appliance stores ................................. . Lumber, building material, and hardware stores ................................. . Postal receipts• .......................................... $ Building permits, less federal contracts $ 22,122 198,379 + 8 + 22 + 43 + 20 + -13 + 21 -1 + 88 End-of-month deposits (thousands) t....$ 20,959 + 20 SLATON (pop. 5,036) Postal receipts• ·····-··········--····-···················$ 2,246 + 8 + 29 PORT ARTHUR (pop. 82,150u) Retail sales ................................................. . Apparel stores ···········-·························· Automotive stores ................................. . + 8 + 18 + 11 + 19 + 7 + 29 Building permits, less federal contracts $ Employment (area) ··················-·····-······· Manufacturing employment (area) .. Percent unemployed (area) ................. . 10,485 43,800 4,830 5.0 -62 •••••• -78 + 2 4 2 Food stores ............................................. . Furniture and household appliance stores ................................. . Lumber, building material, and hardware stores ................................. . Postal receipts• ..........................................$ 37,674 + 12 -1 -10 + 2 + 12 + 2 + 10 + 18 SNYDER (pop. 14,l llr) Building permits, less federal contracts $ Bank debits (thousands) ·····-············-···· $ End-of-month deposits (thousands) t ....$ Annual rate of deposit turnover ........... . 243,540 13,266 16,482 9.6 -17 -4 -1 -10 +151 + 9 + 18 -3 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) ................... . 306,068 68,954 45,321 18.6 88,100 29,900 4.0 -48 + 9 + 3 + 4 + 2 + 1 -18 -29 + 17 + 2 + 16 + 2 + 2 -5 SWEETWATER (pop. 13,619) Postal receipts• ·-············-·-···-·····················$ 10,992 Building permits, less federal contracts $ Bank debits (thousands) ........................ $ End-of-month deposits (thousands) t ....$ Annual rate of deposit turnover ........... . 91,120 9,209 11,363 9.4 + 38 -29 -1 -6 •• + 9 -39 + 2 •• -1 TEXAS BUSINESS REVIEW LOCAL BUSINESS CONDITIONS Percent change Per ent hange Aug 1957 Aug 1957 Aug 1957 AUJr l !l Aug from from City a.nd item 1957 July 1957 Aug 1956 City and item Ag from f rom 1957 July 1957 Aug 195 TAYLOR (pop. 9,071) VERNON (pop. 12,651) Retail sales Automotive stores + 20 + 35 Postal receipts• ····-····-·······-···············-······ $ 7,88 Postal receipts• --······:::::::::::::::::::::::::::::::::_·$ 6,512 Building permits, less federal contracts $ 22,550 -34 61 -1 -10 Building permits, less federal contracts $ 39,710 -71 •• Bank debits (thousands) ....................... $ 10,523 3 + Bank debits (thousands) ........................$ 8,554 + 27 + 13 End-of-month del)osits (thousands)+.._$ 17, 05 -12 End-of-month deposits (thousands)+....$ 11,422 + 17 3 Annual rate of deposit turnover ........... 7.1 + 13 + Annual rate of deposit turnover ............ 9.7 + 17 + 21 VICTORIA (pop. 49,164r) TEMPLE (pop. 33,9I2r) Retail sales ........... -4 Retail sales ·--·····--·······-···-····--·········--·-····-----+ 12 7 + Automotive stor~·-·····-·················· .. Apparel stores ···············--···-······----·-·····-· + 17 + + 16 Furniture and hous~h-~j-d ........... Eating and drinking places ................ 5 + 11 + appliance stores ................. . Lumber, building material, and Furniture and household + appliance stores ····-·--···············--··-···--· + 4 -11 Lumber, building material, and hardware stores ................................ + -12 hardware stores _____ ···-··-··· + 14 + 13 Postal receipts* ·----···············--········· ... ... $ 26,5 4 + 21 Building permits, less federal contracts $ 650,394 -42 -75 Postal receipts• ·······-··············--··-··::_::::::::: $ 27,323 + 25 + ~~~~~~~~~~~~~~~~~ Building permits, less federal contracts $ 275,273 + 52 2 Bank debits (thousands) ·-····--····--········-··$ 19,095 -1 4 End-of-month deposits (thousands)+..._$ 28,927 3 + 10 + WACO (pop. 101,82¥) Annual rate of deposit turnover ···--·····--8.1 -12 Retail sales ····--····---···-···-·····--····--·· ........... 9 Apparel stores ··-·--·····--···· ................... Automotive stores --··-···-····-····--.... .. 10 TEXARKANA (pop. 31,0Slr) -16 Florists ·-·--·----··------·--····-·--···--· .......... ····-· + 7 Retail sales Furniture and household Furniture and household - appliance stores ·······--·-········-·-·-········-· -19 -22 appliance stores ··------······-· --·-·--· ....... 20 -6 Postal receipts* ····--·····-----···-----···· ........... $ 113, 79 + 7 + 4 Postal receipts§• ·-···--···--·········-·-·-···--······---$ 40,717 + 18 -3 Building permits, less federal contracts S 1,076,918 -47 23 Building permits, less federal contracts $ 258,300 + 53 +151 Bank debits (thousands) ·······-·······---··· .$ 93,3 4 -2 + Bank debits (thousands) § ·············-·-······$ 39,858 -12 3 End-of-month deposits (thousands)+--··$ 62,921 3 End-of-month deposits (thousands)+....$ 16,588 + 2 Annual rate of deposit turnover ·--···-----· 17.9 8 Annual rate of deposit turnover§ ------·· 14.3 -15 + 5 Employment ·---·······---··-·--····---·······-· ...... __ 48,150 .. Employment§ .............................................. 31,850 •• Manufacturing employment -·---···-· 10,060 .. + 10 Manufacturing emple>yment§ ............ 4,780 + 2 -10 3. Percent unemployed --···----·----· _·-·· .. ···-· Percent unemployed§ ····--·····--··········-·--····· 8.3 17 + WEATHERFORD (pop. 8,093)TEXAS CITY (pop. 23,000r) Building permits, less federal contracts S 224,600 674 21 Retail sales + 10 .1.. 3 Automotive stores ················------·····-······ Bank debits (thousands) -·-···· .. ·····---S 10,69 Lumber, building material, and End-of-month deposits (thousands); .. S 12,266 2 + 2 + 15 Annual rate of deposit turnover ............ 10.4 hardware stores ·····-···--·--··--············--· 14,704 + 16 Building permits, less federal contracts $ 269,855 57 8 Postal receipts• ·-······-·······--··-······--·············$ - Bank debits (thousands) ·-· -··········-·········$ 23,808 -10 -22 WICIIlTA FALLS (pop. 103,152r) End-of-month deposits (thousands) :j: ....$ 23,885 -11 -23 14 Retail salea 11.3 -13 5 4 Automotive stores ····--··-·-······ ·-···--· Annual rate of deposit turnover ·······--·-· 49,600 Furnit ure and household Employment (area) ·····-·················-······-··· •• + + 19 Manufacturing employment (area) .. 12,010 •• + 3 .l.. 13 appliance stores ................................ + Percent unemployed (area) ··········-········· 6.6 -7 + 6 Lumber, building material, and .. hardware stores ------·-···---··--·--········ Postal receipts• ...................----·---···---··--· $ 80, 6 8 -6 TYLER (pop. 49,443) Building permits, less federal contracts 497,969 -42 Retail sales 99,269 Bank debits (thousands) ···--······--········-+ 13 + 19 Automotive stores ············-·-··--·--······--··· 104,101 1 End-of-month deposits (thousands)+ --· $ + 58,544 + 25 + 20 P ostal receipts• ··-··········-····-···--········-···-·-··$ 11.4 8 Annual rate of deposit turnover ·····-··-·· Building permits, less federal contracts $ 455,627 -42 3 9 Employment ..........................................--3 ,100 + .. 81,748 + Bank debits (thousands) -···--·-·······-····-·-$ 3,700 Manufacturing employment ----·-······· 59,442 5 + 3 End-of-month deposits (thousands)+....$ 3.7 -12 Percent unemployed .............---·······--··-·· 16.1 3 + Annual rate of deposit turnover ............ *Postal receipts for Midland are for calendar month of August. Other cities' receipts are fer period from J uly 27 to August 23. Percentage changes are for comparable periods. tMe>ney on deposit at the end of the month, but excludes deposits to the credit of banks. UReported by the Bureau of Business and Economic Research, University of Houston, for Harris County. §Figures include Texarkana, Arkansas (pop. 19,733) and Texarkana, Texas (pop. 31,051). rRevised for use by the Texas Highway Department. ul950 Urbanized Census. ••Change is less than one-half of one percent. 23 OCTOBER 1957 BAROMETERS OF TEXAS BUSINESS Year-to-date average August July August1957 1957 1956 1967 1966 GENERAL BUSINESS ACTIVITY tTexas business activity, index.................................................................................. 201 200 195 198 191 Miscellaneous freight carloadings in SW District, index................................... 86 85 90 85 94 Ordinary life insurance sales, index...................................................................... 331 361 258 339 270 Wholesale prices in U. S., unadjusted index........................................................ 118.3 118.1 114.7 117.4 113.5 tConsumers' prices in Houston, unadjusted index________________··-·························-···-122.1 118.2 121.'2 117.2 Consumers' prices in U. S., unadjusted index........·---··--···-····----·--------····---··--····--121.0 120.8 116.8 119.6 115.5 Income payments to individuals in U. S. (billions, at seasonally adjusted annual rate) --------·-------------····--·-·-·············-------------------········································ $ 347.3 $ 346.2 $ 329.3 $ 341.9 $ 322.3 Business failures (number)--~-------------------------························ ·············-···-···· ·········· 38 36 30 26 TRADE Total retail sales, index·--------·--------------------------··-··---·······-···-······-·=·-························· 192* 189* 172 183 162 Durable-goods stores -------···-------·-·-------------------······················-------------············· 175* 175* 151 164 145 Nondurable-goods stores·--------------------------·----------------------------·---------···--·--········ 200* 196* 183 192 170 Ratio of credit sales to net sales in department and apparel stores.................. 65.9* 64.7* 64.8 66.7 66.8 Ratio of collections to outstandings in department and apparel stores.......... 35.7* 37.3* 34.2 37.7 37.0 PRODUCTION Total electric power consumption, index..-------------------------------------------------------------372* 358* 298 340 304 lndustrial electric power consumption, index..........·-·········--------------·-------------------361* 357• 268 363 320 Crude oil production, index..·-------------·------··--·------------------------··········--··------------------· 119* 120* 132 135 133 Crude oil runs to stills, index....--------------------------------------------·----------------·----·---------·· 146 137 147 147 151 Gasoline consumption, index·-------------·----------------······--------------·------·····------------······· 173 186 170 172 Natural gas production, index................................ _. ____ _ ____________________________ ,. ________ 188 184 184 184 Industrial production in U. S., index.............·-------------------·--·---------------·---------------144 144 143 144 141 Southem pine production, index............................................................................ 108 123 106 120 Cottonseed crushed, index_·----------------------------------················--·-·--------------------·····-····· 86 118 117 119 127 Construction authorized, index________________ _____ _____________ _ ············------------------··········· 199 250 182 200 183 Residential building ---················-·············---···--····-----------·························--····· 188 252 179 176 194 Nonresidential building ·················-·········---------·--·------------·---·-··········---·--········ 182 257 190 199 207 Construction contracts awarded (thousands)···--······-··········-······························· $129,553 $125,049 $140,702 $147,372 $149,267 AGRICULTURE Fann cash income, unadjusted index................·--------------·------·----·----··------·---··------81 70 112 63 75 Prices received by farmers, unadjusted index, 1909-14=100............................ ·271 271 250 266 250 Prices paid by farmers in U.S., unadjusted index, 1909-14=le0.................... 295 295 288 295 284 Ratio of Texas fann prices received to U. S. prices paid by farmers................ 92 92 87 90 88 FINANCE Bank debits, index...........·-···-----------·----------------····-------------·····································.. 238 23'6 224 232 217 Bank debits, U.S., index........................................................................................... 207 208 200 200 187 Reporting member banks, Dallas Reserve District: §Loans (millions) .............................................................................................. $ 2,432 $ '2,408 $ 2,444 $ 2,405 $ 2,425 §Loans and investments (millions) -----------·-·--·--·----·------------------·-··--------........ . $ 4,012 $ 3,957 $ 3,823 $ 3,906 $ 3,791 Adjusted demand deposit& (millions) ·····------.. ·-----------·--··········-----·----·---······ $ 2,625 $ ''2,697 $ 2,671 $ 2,643 $ 2,651 Revenue receipts of the State Comptroller (thousands) ···---·····-······--·-············ $ 74,367 $ 75,452 $ 92,436 $ 86,080 s 82,240 Federal Internal Revenue collections (thousands)·-····--···----··----··--·--················ $241,550 $144,870 $206,290 $253,388 $235,393 LABOR Total nonagricultural employment (thousands)··-·----------··--·-···-·······-··--··--···-···-·· 2,489.3 2,486.8 2,426.9 2,461.3 2,387.2 Total manufacturing employment (thousands) _.. _____ __ _______ _____ _____ __ __ ___ _______ 488.7 488.8 477.0 485.6 468.6 Durable-goods employment (thousands)-------------------·----·-------·------------'242.2 244.0 231.2 241.2 223.6 Nondurable-goods employment (thousands) -----------·-------------------·-------246.5 244.8 245.8 244.4 242.5 Total nonagricultural labor force in 17 labor market areas (thousands) ______ ___ 1,878.6 1,870.4 1,831.7 1,866.0 1,807.0 Employment in 17 labor market areas (thousands) ___________________________________ _ 1,804.3 1,789.4 1,760.6 1,785.6 1,730.9 Manufacturing employment in 17 labor market areas (thousands) 376.2 376.7 372.0 377.6 . 359.5 Total unemployment in 17 labor market areas (thousands)----------·---·-···· 73.2 80.4 70.0 79.9 74.4 Percent of labor force unemployed in 17 labor market areas__ __________ 3.9 4.3 3.8 4.3 4.1 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 tor seasonal variation, except annual indexes. Employment estimates have been adjusted to first-quarter 1956 benchmarks. •Preliminary. t Based on bank debits in 20 cities, adjusted for price level. t Index computed for FebruarY, May, August, and November only. § Exclusive of loans to banks after deduction of valuation reserves. TEXAS BUSINESS REVIEW