TEXAS BUSINESS REVIEW A Monthly Summary of Business and Economic Conditions in Texas BUREAU OF BUSINESS RESEARCH THE UNIVERSITY OF TEXAS VOL. XXXIV, NO. 3 TWENTY CENTS A COPY-TWO DOLLARS A YEAR MARCH 1960 Texas Industrial Production, 1959-60 Industrial production in Texas has rebounded strongly from the recession. In the past year there have been a large number of new plant locations and expansions of existing manufacturing capacity which have significantly strengthened the state's economy. More are underway. But is Texas' in­ dustrial growth slowing? The strong recovery of Texas industrial activity last year from the 1958 recession was solid evidence of the fundamental health of the industrial base of the state's economy. The average value of the monthly indexes of Texas industrial production published by the Federal Re­serve Bank of Dallas rose from 159 in 1958 to 170, a new high, and appeared to be gradually rising as the new year began. Industrial electric power consumption, also an indi­cator of industrial activity, was 12% above the 1958 level and in early 1960 was 10% greater than a year earlier. Industrial employment, despite strikes during the y'ear in the metals refining and steel industries, rose an average of almost 5,000 from 1958 and in January 1960 was 8,000 above the same 1959 month. Given the general industrial recovery, however, there have been some important differences between the per­formances of the major industrial sectors. The average monthly index of durable manufactures, for example, after falling to 223 in 1958 from 231 in 1957, rose strongly to 243 in 1959; this January the index reached 252, its high­est level in history. The recovery of nondurables was almost as strong, with the monthly index averaging 190 in 1959 compared with 178 in 1958; the index value in January 1960 was 196, also a record high. It is significant that the manufacture of nondurable goods in Texas in 1958 was at virtually the same rate as in 1957, evidencing the resistance to the general economic recession offered by this important segment of Texas industry and accounting for the fact that total manufacturing output in the state in 1958 was off only 1 % from 1957. Texas mineral production (including oil and gas), though on average up 6% in 1959 from 1958, has shown noticeably· less dynamism than manufacturing. Production in 1959 was below the level of 1955, 1956, and 1957, and the average value of the minerals index for the past six months was also below the immediately preceding six­month period. The explanation of the category's weakness is of course the continuing necessity for relatively low crude oil production allowables. Texas crude production last year rose 4%, a percentage gain equal to the widely pro­jected annual increase in crude demand for the next few years. Natural gas production in the state in 1959 rose 5% from 1958. In contrast, however, employment in the petro­leum and natural gas producing industries is still below the year-ago figure, and it is to be expected that automa­tion and other technological advances will continue to favor production increases without corresponding employment gains. In conjunction with the gradual resumption of normal production schedules for Texas industry in 1959, the in­dustrial growth of the state generally characteristic of the postwar years regained much of the strength lost during the 1958 recession. New plant building authorized rose 13%, in contrast to a 28 % decline in 1958 from 1957. An even greater gain in such building is expected this year, even if the general economic boom so widely anticipated as­sumes somewhat less impressive proportions than was ex­pected a few months ago. New manufacturing plants opening in Texas in 1959, (continued on page 5) The Business Situation in Texas By JOHN R. STOCKTON The index of business activity in Texas compiled by the Bureau of Business Research declined 2% in January after adjustment for seasonal variation. This decline seems to have resulted from a fairly general slowing down of busi­ness during January, which had established a new record high for 1959. When this decline in the business index is viewed in the light of other developments, it has resulted in a certain amount of uneasiness on the part of some busi­ness analysts. National forecasts for 1960 are being revised to be somewhat less optimistic than those made at the end of the year, but in spite of the relatively unfavorable show­ing for January, there is no reason at this time to believe that any serious change has occurred in the outlook for 1960. This conclusion assumes that the decline in business during January may be considered an erratic variation that will be corrected in subsequent months. A detailed consideration will be given to the most important under­lying factors in the present business situation in order to substantiate this conclusion. The largest segment of business is represented by the outlay of consumers for goods and services, although these expenditures do not show as great relative fluctuations as do business expenditures. Sales of retail stores in Texas during January reflected the general slowing down of busi­ness, with the index of retail sales adjusted for seasonal variation declining 2% from December. This adjustment for seasonal variation is particularly important when con­sidering the level of January sales, since there is normally a substantial decline in consumer spending after Christmas. In comparing the level of January sales with December it is necessary that an allowance be made for this normal decline. Actually, sales in January were 24% below De­cember, but all but 2% of this decline was considered to be the normal drop that always takes place in January. Durable goods fared substantially better than nondurable goods, due entirely to the improved sales of automobiles. Sales of automobile dealers normally decline 9% in Janu­ary, but this year they increased 3%. After allowance for seasonal variation, sales of durable goods stores rose 11% in January, but this improvement was more than offset by a decline of 6% in sales by nondurable goods stores. Almost without exception, sales by all types of nondurable goods stores showed more than the normal seasonal decline. The ending of the steel strike undoubtedly exerted an influence on the sale of automobiles, with the result that some of the sales made in January represented demand that was not satisfied in previous months. Taking this factor into consideration means that the slump in consumer de­mand was more than is indicated by the 2% decline in retail sales, since some of the increase in automobile sales was due to unfilled demand carried over from last year. In spite of the poor showing consumers made in Janu­ary, the basic factors that support demand appear to he strong enough to warrant the belief that a decline will not be likely to continue. The Department of Commerce data on personal income show that income payments to indi­viduals in the United States increased in January to the record annual rate of $393.3 billion. Most of this increase resulted from increased payrolls, although some of the in­crease in payrolls was absorbed in higher social security taxes. The expansion of industrial production, particularly in durable goods industries, following the ending of the Texas Business Activity TEXAS BUSINESS REVIEW steel strike accounted for most of the increase in payrolls. With industrial activity continuing at a high level, it is reasonable to assume that consumer income will be main­tained. Texas personal income payments during the past few years have been fluctuating very close to the pattern of the national figures, and with employment rates in Texas following the national levels very closely, this relationship is expected to continue. The volume of consumer credit outstanding rose during December to a new high, 14% above the level a year earlier. There is a normal seasonal increase in the amount of credit extended in December, but this was offset somewhat by Texas Industrial Production Index , Adj usted for seasonal variation , 1947-1949·100 200 Iso 00 so 0 the fact that automobile instalment credit outstanding was reduced by the curtailment in the supply of new cars for sale. In spite of some talk of the need to reinstitute Regula­tion W for the control of consumer credit, it seems likely that further extension of the various kinds of consumer credit will occur during 1960 and will lend support to the expansion in consumer spending. One method statisticians have used to predict what con­sumers will do is to conduct a survey and ask them their intentions with respect to spending. A survey by the Na­tional Industrial Conference Board indicates that con­sumers will increase their spending by significant amounts, and that they are optimistic with regard to business con­ditions throughout 1960. With consumers in a spending mood and personal income continuing to rise, there is strong reason to believe that the downturn in Texas retail sales in January will be reversed in the months to come. The spending plans of business concerns are even more important in their influence on business conditions than the spending of consumers, since they are subject to sharper changes, and are likely to anticipate and even cause changes in consumer spending. The spending of business to build inventories after the steel strike was expected to offer sub­stantial support for business throughout much of the first half of 1960, but it now appears that inventories have been rebuilt faster than was expected. This may be the cause of some of the discouragement felt by business analysts about the level of business in January. The changes in inventory accumulation policies are powerful forces that produce sharp cyclical swings in business, but since consumer spend­ing is expected to remain high, there is no reason to expect any immediate curtailment in inventories. This means that industrial production may be expected to continue at a high level. . The index of total industrial production in Texas, pub­lished by the Federal Reserve Bank of Dallas, remained unchanged at 172 in January after rising 3 points in De­cember. The index of manufacturing rose 3 points in both December and January, representing the increase in dur­able manufacturers. Throughout the nation as a whole production was running high. The index of industrial pro­duction for the United States, published by the Board of Governors of the Federal Reserve System, gained 6 points in January, following a gain of 9 points in December. These gains extended to nearly all types of goods, but durable goods manufacturers showed the greatest activity. Auto­mobile production was at record levels during January, and steel production was close to 95% of capacity. However, new orders for durable goods have shown signs of falling off, and by February automobile production was being cut back. All of these signs support the thesis that the shortages created by the steel strike have been rapidly overcome, probably more rapidly than was expected when the first forecasts for 1960 were made. Manufacturing employment in Texas rose only slightly, even in the durable goods industries that on a national basis were feeling the effects of the ending of the steel strike. Industrial power consumption in Texas rose 3% from December and was 10% higher than a year ago. Crude oil production showed a 2% gain in January, after adjustment for seasonal variation. Refinery runs of crude oil to stills registered the same gain. However, the ten-day allowable for March reinforces the conclusion that this industry has very little hope of giving any substantial upward push to the recovery movement. Inventories of re­fined products are beginning to exert a somewhat depress­ing influence on prices and local gasoline price wars are becoming more common. The construction industry finished 1959 approximately 5% ahead of 1958, but total building permits in January declined 24% from December, after adjusting for seasonal variation. A 10% decline in residential building brought January residential housing starts to a level 33% below a year ago. For the whole year 1959 residential building permits were only 1 % above 1958, and building construc­tion resigstered a moderate increase chiefly because non­residential permits for 1959 were 11 % ahead of the pre­vious year. January nonresidential permits dropped 42% SE LECTED BAROMETERS OF TE XAS BUSINESS (1V47--49 =100) P ercent change Index J an 1960 Dec 1959 J an 1959 J a n 1960 from Dec 1959 J a n 1960 f r om J a n 1959 T exas business a ctivity ............ 219 223 210 2 + 4 Miscella neous freight carloadings in S.W. distr ict.. 82 76 79 + + 4 Crude petr oleum p roduction.... 118* 116r 125 + 2 6 Crude oil runs to stills ----------· · 148 145 147 + 2 + 1 Total electric power consumption ----------·················· 383* 372r 349 + 3 + 10 Industrial electric power consumption ··········-················· 394• 384* 857 + 3 + 10 Bank deb its ·--············-·············-···· 261 265 251 2 + 4 Ordinary life insurance sales.... 887 457 404 - 15 - 4 T otal retail sales ···--················-·· 209* 213r 222r - 2 - 6 Durable-goods sales ............ 162* 146r 19lr + 11 -15 Nondurable-goods sales...... 234* 248r 239r - 6 - 2 Urban building permits issued 186 246 239 - 24 -22 R es idential ··········-····················· 206 228 308 - 10 -83 Nonresidential ························ 160 278 167 - 42 - 4 Adjusted for seasonal variat ion, except annual avera1tes and farm cash in come. * Preliminary. r Revised. from the previous month. The prospects for total building in the coming months are not particularly bright, although nonresidential permits probably will show more strength than residential. With a continuation of high interest rates and the fact that residential building is beginning to catch up with its market, it is to be expected that construction will not offer any unusual boost to the business situation in the next few months. It should be remembered, however, that the level of activity is still high and will probably continue to support a volume of building little changed from 1959. The index of Texas farm prices declined from 262 in December to 261 in January, a point 7% below the level of January 1959. This decline in farm prices has now con­tinued for nearly two years, with a continued reduction in farm income. The index of all wholesale prices, however, rose in January, reflecting an increase in the price of indus­trial goods. This rise in all commodity prices has not yet brought the index to the peak reached in April of last year, and the index of consumers' prices declined slightly in January for the second consecutive month. The behavior of the two major indexes compiled by the Bureau of Labor Statistics supports the hypothesis that for the present the inflationary trend of prices has been halted. CHANGES IN CONDITION OF WEEKLY REPORTING MEMBER BANKS IN THE DALLAS FEDERAL RESERVE DISTRICT Source : Board of Governors of the Federal Reserve System Percent change• Jan 1960 Jan 1960 Jan 1959 from from from Account Dec 1959 J an 1959 Dec 1958 TOTAL ASSETS -5 -1 -5 Loans and investments, less loans to banks and valuation reserves --------···· 3 3 Loans, less loans to banks and valuation reserves + 5 4 Commercial industrial, and agricultural loanst ................. . 4. + 3 Loans for purchasing or carrying securities ---··-···--------· + 3 + 4 9 Real estate loans ............................... . 6 4 Other loans ........................................ 2 + 12 1 Total U.S. Government securities ............................... . -14 •• Treasury bills .................................... -34 -48 -19 Treasury certificates of indebtedness -·--·-----------···-----·---···· •• -70 -19 Treasury notes and bonds .............. -4 -6 + 4 Other securities ............................ + 2 + 11 -3 Loans to banks .......................... -24 -17 +583 Reserves with Federal Reserve banks ........................ -1 7 Cash in vaults ............................ -J.4 4 Balance with domes~ic banks -18 6 -33 Other net assets ....................... . + 16 2 TOTAL LIABILITIES ...... 6 2 6 Total adjusted deposits .............. 4 -4 2 Demand deposits ................................ 6 -6 4 Time deposits .................................... + 2 •• U. S. Government deposits ............ -12 -23 + 28 Total interbank deposits ............ -10 -24 Domestic banks ................................ -10 •• -24 Foreign banks .................................... -18 -12 •• Borrowings .................................... -16 + 88 Other liabilities .......................... + 6 + 38 11 - CAPITAL ACCOUNTS-•• + 4 + 4 *Percentage changes are based on the week nearest the end of the month. **Change is less than one-half of one percent. t Includes loans to nonbank financial inatitutlons. TEXAS BUSINESS REVIEW Editor.·-·······-·-···-····-··············--········-···-·John R. Stockton Managing Editor ...........·-···--···-··---···-·Robert H. Drenner CONTENTS Texas Industrial Production, 1959-60 ----···-················ I The Business Situation in Texas ·-······-··-···················· 2 Agriculture ...··-······-··················-··--····-····················-···· 9 Industrial Production ·-···················-···························· 11 Building Construction ·············-·--·-·-··········-················ 14 Retail Trade ·····················-···-·····-·····--·····--·······-···-······ 15 Local Business Conditions ···········-······--··············--···-17 Barometers of Texas Business ·-·-·-·······-······················ 24 BUSINESS RESEARCH COUNCIL John Arch White, Acting Dean of the College of Business Adminis­tration (e:t officio); John R. Stockton; W. H. Baughn; L. G. Blackstock; E. W. Cundiff ; J. Neff; G. H. Newlove. BUREAU OF BUSINESS RESEARCH John R. Stockton Stanley A. Arbingast Florence Escott Director Auistant Direct 45.4 + 2. 5 of some 224 million pounds from 1958. Reports also show Leather and leather an expected drop in the value of the 1959 peanut crop, with products ----------------------------3.5 3.5 3.2 •• + 9 Other nondurable goods ____ 6.1 6.1 5.7 •• + 7 the value of the Texas harvest estimated as some $4,718,000 NONMANU-below the $23,532,000 production of 1958. Texas peanut FACTURING --------------1988.5 2046.2 1946.8 + 2 growers received an average of 1.2 cents per pound less for 126-2 127.6 128.5 2 Mining --------------------------------------their produce in 1959 than in the previous year. Petroleum and natural gas 118.7 120.1 121.3 2 June and July rains in the West Cross Timbers region Metal, coal, and other 7.5 7.5 7.2 helped the peanut crop in that area off to a good start, but mining ·····-···-············--------•• + 4 Contract construction _______ _ 153.5 161.6 159.4 4 a dry spell in late July, August, and early September Transportation and utilities 229.3 230.6 224.5 + 2 threatened the harvest and cut yield prospects. Rains be­ Interstate railroad -----------­42.() 42.4 43.3 3 ginning in late August alleviated the dryness, but harvest Other transportation --------106.7 107.3 101.5 + was at times brought near standstill due to heavier han Telephone and telegraph___ _ 38.9 39.0 38.4 •• + usual rains and soggy fields. Harvest was resumed in Public utilities --------------------41.7 41.9 41.3 •• + 1 Government ........................... . 426.9 432.1 418.8 + 2 earnest in late October with no material crop damage, however, progressing rapidly into early December. Trade ----------------------------------------639.1 677.1 612.8 + 4 Wholesale trade -----------------­171.5 172.7 167.6 + 2 The Southern Atlantic states region is the largest peanut­Retail trade -----------------------­467.6 504.4 445.2 7 + 5 growing area in the United States. Georgia led the nation Building materials-in 1958 with a 612,850,000-pound production, while that hardware ---------------------­38.2 37.9 35.4 + 1 + 8 state's production for 1959 is estimated at 552,375,000, General merchandise .... 87.7 114.6 78.7 -23 + 11 again the nation's largest. North Carolina stood second Food and liquor stores___ _ 78.1 77.3 73.9 + 1 + 6 with 331,080,000 pounds in 1958, with an estimated 284,­ Automotive stores ----------79.3 79.3 78.2. •• + 1 800,000 pounds for 1959. North Carolina also grows the Apparel stores ----------------29_2 37 .a ::9.1 -21 •• largest share of the nation's peanut hay. Alabama ranked Other retail trade ----------l ii5.1 158.() 149.9 -2 + 3 above Virginia in 1958, but the 1959 Virginia production Finance, insurance, and is expected to top Alabama by nearly 33,500,000 pounds. real estate ------------------------116.1 115.9 113.4 •• + 2 Texas, besides ranking third in peanut production, is re­ Bank and trust companies 30.1 30.4 29.0 + 4 48.9 sponsible for approximately 60% of the Southwest output, Insurance ----····-···-----·········-·-· 49.2 48.3 + 1 with Oklahoma growing some 30% of the Southwest crop. Real estate and finance ___ _ 37.1 36.3 36.1 + 2 + a The majority of the peanuts grown in Texas, which are of Service and miscellaneous.... 297.4 301.3 289.4 + a smaller variety than those grown on the Atlantic Coast, Hotels and lodging places 28.4 28.3 26.6 •• + 7 Laundries and cleaners ___ _ go into candy or peanut butter (approximately 60% of the 35.2 35.7 35.5 Other service and total national peanut output eventually winds up in peanut miscellaneous 233.8 237.3 227.3 + butter). Peanuts, a member of the pea family (legumes), have be­ •Preliminary. come one of the top cash crops in sandy soil areas in Texas, •• Change Is less than one-half of one percent. t Revieed. primarily because peanuts can provide an income from a type of land where most other crops are unprofitable. Be­sides providing a nut which is used in making vegetable oils (the peanut became commercially important in this country because of a shortage of vegetable oil during World War I), commercial table spreads, and confections, the crop supplies hay and meal of a high nutritional value for livestock feeding. Peanuts also are a good pig feed, but may cause damage to the meat due to unbalanced feeding. Leafy peanut hay, a forage much like clover, if properly cured almost equals the quality of alfalfa for beef and dairy cattle feeding and can be grown on land where al­falfa grows poorly or not at all. A ton of choice peanut hay is normally highly palatable to cattle and provides approx­imately 200 pounds of protein. Peanut meal, or cake, which is ground nuts minus most of the oil, is used as a feed sup­plement and is a highly digestible nutrient, but is low in calcium and phosphorous. Peanut hulls and skins too are used as feed supplements, with hulls providing bulk ma­terial for lighter feeds. A recent development has been the use of hulls in producing activated charcoal. Farmers in some 130 Texas counties grow peanuts, with heaviest concentrations in the north central counties of Erath, Comanche, and Eastland and the South Texas counties of Atascosa, Frio, and Wilson. There is also sub­stantial peanut production in Hood, Parker, Denton, Gray­son, Fannin, Wise, and Montague counties in the West Cross Timbers region. In East and South Texas few coun­ties (with the exception of the Gulf Coast region) lack farms with at least some peanut production. Growing of the crop is practically nil in the Panhandle and in West Texas; it is unsuited to the High Plains because of wind erosion. Typical peanut land is deep, well-drained, sandy soil with a sandy clay subsoil and a gently rolling topogra. phy. Clay or loam will produce peanuts if there is abundant moisture, but such soils often form a crust which makes peanut growing and harvesting difficult. Dark soils dis­color the hulls and will cling to the nuts at harvesting. Careful soil care is the key to success in producing a peanut crop of high yield. Continued yearly planting of peanuts on the same plot depletes the soil of much organic matter, increases wind erosion hazards, and invites the Southern blight, a peanut soil-borne fungus disease. Pea­nuts take from the soil many minerals, and the loss of plant food is made more serious by the fact that sandy soils usually used for peanuts often are low in organic matter, nitrogen, phosphorous, and potash. Therefore, most pea­nut growers use crop rotation and terrace or contour their fields to hold down the sandy soil. Erosion-resisting cover crops such as vetch or winter peas (also legumes) or small grains such as oats or rye are effective weapons for peanut growers, while some utilize grain sorghum strip cropping. Whether rotation, cover crops, strip cropping, or any com­bination of the three will be used by the peanut grower is a function of the peculiarities of the individual farm. Ap. plication of fertilizer (primarily nitrogen base), however, is almost universal in peanut growing. The farmer may either apply fertilizer to a winter cover crop or make ap· FARM CASH INCOME BY CROP REPORTING DISTRICT, 1958, AND BY CROP REPORTING DISTRICT AND COMMODITY, 1959 Percent changeCommodity 1-N 1-S 3 6 7 8 9 10 10-S Total Total 1959 from 1959 Value (thousands of dollars) 1958 Total• .............. 408,079 367,406 207,078 120,046 256,760 165,468 89,418 100,210 237,008 144,079 90,863 128,464 ............ 2,372,620 1959 Totalt .............. 404,828 849,921 202,659 115,213 245,482 153,551 87,468 101,250 226,813 144,969 90,120 122,460 2,300,906 Percent change ·--­ - 1 - 5 - 2 - 4 - 4 - 7 - 2 + 1 - 4 + 1 - 1 - 5 - 3 TOTAL CROPS ............ 282,082 828,659 142,881 22,369 123,298 35,708 52,263 15,534 109,086 100,023 33,080 110,945 1,405,645 1,443,033 Cotton --······················ 84,428 240,237 83,892 468 64,692 13,514 45,760 2,810 40,341 23,816 3,947 65,094 668,999 690,045 Cottonseed ·-················ 8,904 25,387 8,847 49 6,822 1,425 4,826 296 4,254 2,512 416 6,865 70,553 79,487 -11 Wheat ···········-·············· 78,895 2,267 24,688 5,190 7,016 l,265 119,321 120,186 -1 Oats ···························· Corn ·····-··-··--------·-······· 91 1,305 91 485 2,276 1,457 217 8,733 7,178 273 3,480 910 217 273 6,307 1,305 870 435 9,104 21,749 13,212 21,887 -81 -1 Grain sorghum .......... 106,174 59,352 22,158 2,112 23,510 1,239 535 4,899 38,094 7,067 9,263 7,151 281,554 288,566 -2 Flaxseed ····-------·-········· Hay ······························ P eanuts -----------·­·--·-···· Rice ······················-····-·­Fruit and vegetables Other cropst .............. 695 1,590 463 477 579 202 239 1,042 9,290 2,544 19 4,052 2,221 4,055 1,737 2,019 2,242 9,779 347 795 463 1,414 3,260 862 1,274 2,221 8,463 6,997 51 101 578 116 202 2,625 61,629 2,862 15,742 2 232 31,166 1,035 11,579 20,194 72,334 79,506 49,717 814 11,684 28,525 64,149 78,439 51,089 + 27 -1 -14 + 13 + 1 -3 TOTAL LIVESTOCK AND POULTRY PRODUCTS ·········· 122,746 Cattle .......................... 104,105 Calves ----··-------·-----------­9,228 Hogs ---················-····---· 2,417 Sheep a nd lambs ...... 567 Wool ··-·-··---------············ 187 Mohair ·-·····-----­---·-······ Poultry ···············--------­356 Eggs -------···········-·····-­-­2,087 Milk and milk 21,262 12,274 2,351 1,457 436 444 15 285 2,354 59,778 36,828 9,663 1,706 1,591 1,778 846 783 2,782 92,844 122,184 117,843 35,205 55,007 47,279 32, 732 20,003 9,054 12,274 10,012 2,089 3,057 7,250 6,042 675 1,395 1,895 65 3,o73 1,169 1,357 2,830 2,199 1,296 45 663 1,851 10,894 37,309 71 4,548 11,183 6,688 482 85,716 117,727 31,368 46,370 7,313 12,101 2,879 7,180 12,380 567 14,712 678 9,340 964 1,853 15,736 3,585 14,501 44,946 57,040 21,821 40,005 5,398 6,703 1,315 1,279 44 283 234 166 1,994 427 3,103 1,231 11,515 6,819 871 284 30 142 963 895,261 454,606 87,057 35,541 21,796 28,389 15,064 71,201 53,507 929,587 450,685 97,194 41,568 21,487 17,553 13,741 81,227 62,160 -4 + 1 -10 -14 + 1 + 33 + 10 -12 -14 products -----------······­Other livestockt ........ 3,799 1,646 4,306 14,564 29,256 24,950 5,319 2,786 19,630 11,271 6,712 2,406 126,645 6,455 137,270 6,702 -8 -4 All district breakdowns and 1959 figures are Bureau of Business Research estimates; 1958 state totals are U. S. Department of Agriculture data. •Does not include $122,188,000 received in payments to farmers by the U. S. Government. t Does not include government payments received by farmers in 1959 from the U. S. Government. t District totals do not add to grand totals because they include only the major crops listed and exclude other miscellaneous crops and livestock products which were not assig ned to districts due to the lack of a reasonable basis for distribution. IO TEXAS BUSINESS REVIEW CARLOAD SHIPMENTS OF FRUIT AND VEGETABLES Source: Compiled from reports received from Agricultural Marketing Service, U. S. Department of Agricultue J an Jan Percent Commodity 1960 1959 change TOTAL 4,969 1,976 +151 Beets ........................................................... . 2 1 +100 Broccoli ..................................................... . 4 13 -69 Cabbage ..................................................... . 898 173 +419 Carrots ....................................................... . 942 309 +205 Cauliflower ...... . ...................................... . 207 43 +381 Lettuce ............................................... . 622 82 +659 Spinach ................................................... . 386 401 - 4 Mixed vegetables . . ................................. . 1,512 668 +126 TOTAL VEGETABLES .. 4,573 1,690 +171 Grapefruit ................................................. . 205 111 + 85 Oranges ................................................... . 7 28 -75 Tangerines -------···········-----­-·--················-··· 2 0 Mixed citrus ............................................. . 139 91 + 53 TOTAL FRUIT ............................. . 353 230 + 63 All others ......................................... . 43 66 -23 plication to the peanut crop directly. The winter crop normally is turned under about a month before planting to allow time for the plants to decay into an organic ferti­lizer £or the new peanut plants. Some growers leave old peanut vines in the fields to form a mulch and to hold down the soil. In this way peanut plants aid in maintaining soil fertility. A balance of calcium in the soil is necessary in peanut growing, as lack of this element may cause a "pop" crop, or one which is overabundant in produce with only partially.filled shells. Varieties of Spanish peanuts are almost exclusively grown in Texas, with the white Spanish strains of Spantex, Spanish 18-38, and Spanish 146 the most-grown types. These varieties are drouth-resistant, easily adapted to the Southwest and contain a high percentage of oil. Seed usu­ally are chemically treated with Ceresan, Arasan, Spergon, or Phygon, because peanuts are more susceptible than most other field crops to attacks by the plant disease organisms living in soil. Most growers space rows from 36 to 42 inches and use three to £our-inch plant spacing within rows to assure small plants which will hold themselves upright and produce few late-season nuts. Although close planting requires more seed per acre, it produces a higher yield. Peanut planting time in Texas extends from early March through mid-July in South Texas (peanut farmers in this area plant two crops annually, one in March and the other in July) and mid-May through early June in the West Cross Timbers. Growing season is from four and one-half to five months without frost. Harvest is by thresher or combine, and the vines are left in the field or in open-air sheds to dry before the nuts can be processed. Southern blight and leaf spot are the two plant diseases most troublesome to Texas peanut farmers. The blight is a fungus which rots stems and may attack the larger roots. The only known cure is rotation with crops not affected by the disease. Leaf spot, which is characterized by large black splotches on the peanut plant leaves, is often en­countered in wet weather and during the latter part of the growing season. This disease can be curtailed through use of sulphur dust. Three peanut insect pests plague Texas growers, but all three can be combatted effectively with DDT or sulphur. The lesser cornstalk borer destroys seedlings, while the Industrial Production: THE MOBILE HOME AND TRAVEL TRAILER MANUFACTURING INDUSTRY IN TEXAS By LEONARD G. SCHIFRIN* In recent years, the production of mobile homes and travel trailers has become an industry of increasing signifi­cance in the Texas economy.** In 1959, 30 firms in the state produced approximately 18,500 units, valued roughly at $57,500,000 at wholesale F.O.B. factory prices. Furthermore, the industry provided employment for more than 1750 workers, earning an aver­age monthly wage in excess of $350. This meant a total industry payroll for 1959 of about $7,500,000. Even these figures do not completely reveal the total im­pact of the industry, since they apply only to the manu­facturing aspect of mobile homes and travel trailers. Such closely related activities as the production and distribution of supplies, component parts, or service are not included; their inclusion would raise the production, employment and sales volume figures significantly. Even more impressive is the fact that this multimillion dollar industry is a relative newcomer to Texas. The first *Formerly Research Associate, Bureau of Business Research. * * "Mobile homes" are those trailers which serve as permanent or semipermanent housing. They are generally 25 feet or more long, and are equipped with most, if not all, of the features and con­veniences of conventional housing. Their typical price range runs from $3,000 to $9,000, with the average being about $5,500. "Travel trailers" are lighter, smaller, and generally less well equipped, used primarily for vacation, week-end, or specialty pur­poses. Their average price is about $1,800. In this study no distinction is made between these major types of trailer. Both are included in all production, employment, and sales data. armyworm and corn earworm caterpillars attack and dam­age foliage. Another pest which is sometimes bothersome is the thrip, a juice-sucking insect. Irrigation is a factor which has come into the Texas peanut picture in the past ten years. Production of the first irrigated peanuts in the state is believed to have been near Pearsall in Frio county in 1949, expanding to nearby areas during the drouth of 1952-56. Scant water supplies have limited irrigation in some of the state's peanut-grow­ing areas, but major irrigated peanut areas have been de­veloped near Camp San Saba in McCulloch county, near DeLeon in Comanche and Erath counties, and near Grape­land in Houston county. In an experiment conducted by the Texas A & M College Agricultural Experiment Station from 1953-57 on five farms in the Highlands Community of Comanche and Erath counties, peanut yields on irrigated lands were increased on an average of 20 bushels per acre with higher quality produce, while hay yields also were increased about 20 bales per acre. However, use of irriga­tion on peanut land means heavier seeding rates, larger quantities of fertilizer, more hoeing during growing time to cut down weed growth, increased cultivation and harvest costs, and additional labor for operating irrigation sprink­ler systems. Upped yields in this experiment, on the other hand, offset the higher costs. Increased use of irrigation seems to be the next big step in the Texas peanut story. mobile home manufacturing firm to operate in Texas began operations in 1945. This firm, not a newly organized one but already established in the industry, had moved to Texas from Chicago. The first year's output was 750 units, with a value of $750,000; output for the state in 1959 was 24 times greater in number of units and 76 times greater in total dollar value. Thus, in fifteen years' time, this once­infant industry has become one of impressive proportions. The growth of this industry in Texas is due to several factors. Among these are: the increasing popularity of the modern mobile home as a permanent or semipermanent housing structure; the protracted post-World War II hous­ing shortage; industrial and population expansion within the state; and one internal factor-the relatively high cost of transportation incurred in moving the mobile home or travel trailer from its point of manufacture to the dealer who offers it for public sale. The increasing popularity of mobile homes has been especially notable in recent years. Table 1 indicates this growth, as indicated by national sales for selected years from 1930 to 1939, and annually from 1945 through 1958. The sales spurt following World War II (from a $39,000,000 volume in 1945 to a $204,000,000 volume in 1948) was no doubt caused mainly by the severe housing shortage that persisted for some time after the war. A sec­ond acceleration in output and sales began in 1955, but this time as the result of a major technological change in the industry. Late in 1954 the 10-foot-wide mobile home was introduced, and full scale mass production began shortly thereafter. The 10-foot-wide unit, as opposed to the pre­viously standard 8-foot-wide unit, gave the mobile home the size and area to compete successfully with the custom­ary' rigid-structure housing in the new home market, aside from considerations of mobility. As the mobile home grew in size from the early 15-to 18-foot trailers to the modern TABLE 1 RETAIL SALES OF MOBILE HOMES AND TRAVEL TRAILERS, U.S.* SELECTED YEARS, 1930-1939 ; AN N UALLY, 1945-1958 Mobile Homes Travel Trailers Total Units Estimated Retail Sales Year (no. units sold ) (no. un its sold) Sold (thousands of dollars ) 1958 102,988 30,762 133 ,750 $621.806 1957 114,800 28,700 143,500 650,000 1956 11 1,752 27,938 139,690 600,000 1955 95,093 16,781 111,874 462,000 1954 76,054 325,000 1953 76,899 322,000 195 2 83,054 320,000 1951 67,335 248,000 1950 63,125 216,000 1949 46,243 122,000 1948 85,473 204,000 1947 60,000 146,000 1946 114,000 1945 39, 000 1939 10,000 1937 17,000 1980 l,80 0 1,300 • Source: Mobile Home Manufacturers Association. mobile home, 10 feet wide and upwards of 50 to 60 feet long, more and more did they achieve popularity as a form of permanent housing, offering new and attractive innovations, comforts, and even luxuries, if at the expense of mobility. Currently, about three-fourths of total mobile home production is for permanent housing, selling for an average price of approximately $5,500 per unit. As recently as 1950, mobile home manufacture represented no more than 5% of private housing starts in the United States. By 1958, 14% of all nonfarm single family housing starts were mobile homes. Authorities expect this trend to con­tinue. This growth in the popularity of mobile homes and trail­ers in the United States as a whole affects Texas. The Mobile Home Manufacturing Association notes that approx­imately 80% of all mobile homes and travel trailers manu­factured within the state of Texas are sold in interstate commerce. This of course does not mean that total retail sales in Texas only come to 20% of the annual unit pro­duction for the state. In the United States as a whole there are fourteen sales dealers for every manufacturer. While similar figures are not on hand for Texas, one could prob­ably assume that within Texas there are roughly the same number of dealers per manufacturer. Many of these dealers sell out-of-state manufacturers' products as well as Texas. made mobile homes and trailers, and as a result sales in Texas are substantially above the 20% level of total unit production for Texas alone. In regard to the last two of the growth factors previously mentioned-industrial and population expansion within the state and the role of transportation costs-strong sup­port can be found for the growth of the mobile home in­dustry in Texas. The manufacturing of mobile homes and trailers within the market area provides at least one distinct cost advent· age to the prospective purchaser-the elimination of the cost of transportation of the product from factory to point of sale. Traditionally, the center of activity in the industry has been the Middle West, probably due to the early ties between the trailer and automobile industries. However, with Texas and the Southwest growing as a market, and with Texas ranking behind only California and Florida in the availability of trailer and mobile home parks and rental space, one can readily understand why the com· petitive nature of the industry inevitably led producers to decentralize production, and locate it where the important markets lay. It is interesting to note the heavy concentration of pro· duction in the Dallas-Fort Worth trading area, which has seen swift economic and population growth. Tables 2 and 3 indicate this centralization of production. TABLE 2 TRAI LER AND MOBILE HOME MANUFACTURERS IN THE DAL LAS-FORT WORTH AREA* FORT WORTH GRAND PRAIRIE Artcraft Mobile H omes Manufacturing Co. Dave Hicks Co., Inc. Clipper Manufacturing Co. GRAPEVINE Melody Home Manufacturing Co. Mid-Way Trailer Corp. Sloat Manufacturing Co. Travelite Trailer Co. of Texas GRAND SALINE ARLINGTON Southwestern Mobile Contemport Mobile Homes, Inc. Homes, Inc. Henslee Mobile H ome Manufacturing Co. DECATURM and M Travel Trailer Styleline Mobile Homes United Mobile Home Corp. Manufacturing Co., Inc. TE RRE LL Darby Craft IRVING DENTON Twilight Mobile Home Foremost Mobile Home Manufacturing Co. Manufacturing Co .. Inc. • Source: Mobile H ome Manufacturers Association TEXAS BUSINESS REVIEW T ABLE 3 PRODUCTION, EMPLOYMENT AND SAL ES IN THE TRAILER· MOBILE HOME INDUSTRY, DALLAS-FORT WORTH AREA, 1959* CITY No. of Mfgrs. Units Produced Employment Sales Fort Worth 4,867 333 $14,075,000 Arlington 4 2,700 158 4,624,000 Rest of area 7 6,200 583 19,150,000 Total 16 12,767 1,074 $37,849,000 • Source: Mobile Home Ma nufacturers Association. Of the 14 other manufacturers located within the state, one F1eetwood Trailer Co. of Texas, Inc., is located in Wa~o· one Supreme Trailer Co., in Bonham; two, Bilt­Rite Mobil; Homes and Plains Mobile Homes in Amarillo; "M" System, Inc., in Texarkana; Nashu~ Manufactur~ng Co. in Wichita Falls; Northside Trailers m San Antomo; Riverside Manufacturing Co. in Brownwood; Terra­Marina Manufacturing Co. and Texas Trailer Corp. in Houston· Rio Trailers in Harlingen; Sunray Trailers in Sunray; 'capitol Trailer Manufacturing Co. in Austin; and Friddell Manufacturing Co. in Galveston. These 14 companies had a total production in 1959 ex­ceeding 5,600 units, employment of about 700, and total sales at wholesale F.O.B. prices of about $20,000,000. Thus the concentration of the industry in the Dallas-Fort Worth trading area is readily apparent. Fifty-three percent of the Texas firms are located there, producing 65% of the total Texas unit production and accounting for 60% of the total dollar volume of wholesale sales. A recent development in the industry serves to empha­size still further the growing importance of Texas ~n ~he national mobile home and trailer industry and the s1gmfi­cance of Dallas-Fort Worth to the state's industry. On De­cember 8, 1959, Chance Vought Aircraft .of Dallas an­nounced the formation of Vought Industries, a wholly­owned subsidiary, for the purpose of acquiring an.d ~perat­ing companies in the mobile home industry. This 1s pa.rt of a widespread diversification program being engaged m currently by Chance Vought. Thus far, two mobile home manufacturing firms have been acquired by Vought. They are the General Coach Works of Marlette, Michigan, and the ABC Coach Com­pany of Clarion, Pennsylvania. In addition, a purchase agreement has been signed with the Mid-States Corpora­tion of Battle Creek, Michigan. Through these acquisitions Vought Industries will become .the world's largest man?­facturer of mobile homes. Combmed sales of these firms m 1959 totaled more than $60 million. As an indication of the extent of Vought's acquisitions, this figure is about equal to the total sales of mobile homes and trailers for all manufacturers located in Texas. Although only one of these firms purchased by Vought has a plant in Texas (Mid-States, owning the "M" System plant in Texarkana), and no production will take place in Dallas, the head offices of Vought Industries will be located there. Oosely allied to the mobile home industry is that of mobile home parks. As mentioned earlier, Texas ranks third in the nation, behind California and Florida, in the availability of mobile home parks and sites. For example, one recent survey made in Amarillo revealed approxi­mately 800 mobile home sites occupied in parks in that city alone. When one also considers the estimate that 90% of all new mobile homes will never move more than 100 miles from where they are bought, it can be seen that mobile home residents, an ever-growing number, represent not only a fairly sizable population group but also a rather stable one, favorably comparable to residents of conven­tional type housing. To attract and maintain this popula­tion group, attractive and plentiful sites are necessary. Texas has many to offer, and in a growing number. New ultra-modern parks are scheduled to be completed this ye.ar in Wichita Falls, Arlington, Pharr, and McAllen. Despite this, there is a serious need for many more in Texas. Con­struction of up-to-date mobile home parks has been .far outpaced by the rapid increase in mobile home popularity. In summary, the manufacture of mobile homes and travel trailers has grown in the past fifteen years into an industry of significant proportions. Currently, 30 .fi~ms contribute to an annual output valued at nearly $60 million, with considerable concentration of this production occur­ring in the general locale of the Dallas-Fort Wort.h tradi~g area. Allied with this production are the related mdustnes providing sales, service, and component parts, and mobile home and trailer parking sites. The latter aspect of the industry has lagged behind the growth of the former ones. As for the future prospects of the industry, optimism seems warranted. The rising popularity of mobile homes shows no signs of faltering, especially since the modern Texas-made mobile home is more and more offering many of the conveniences of permanent conventional type hous­ing. The mobile home is becoming increasingly popular as a form of new housing, representing one out of every seven new housing starts in 1959. Every indication points to a continued rapid growth in the industry, and a role of increasing importance for Texas in this expansion. REVENUE RECEIPTS OF THE STATE COMPTROLLER Source : State Comptroller of P ublic Accounts September I-J a nuary 31 P ercent Account 1959-60 1958-59 change TOTAL .................................. $467,923,915 $420,445 ,901 + 11 Ad valorem, inherita nce and p oll taxes .................................. .. 30,776,737 27,842,385 + 11 Natural and casinghead gas production taxes ---------­--­----------­ 20,360,680 18,200,750 + 12 Gas severance beneficiary tax ---­ 111,636 0 Crude oil production taxes .......... 51,426,052 57,254,207 -10 Other gross r eceipts and production taxes .................... .. 9,9 17,734 7,360,106 + 35 I nsurance companies and other occupation taxes -----------------------­ 449,701 463,652 - 3 Motor fuel taxes (net) .............. .. 76,258,428 73,139,831 + 4 Cigarette tax and licenses ........ .. 33,084,698 21,093,590 + 57 Alcoholic beverage taxes and licensee --·-············-----------------------­ 15,943,115 13,707,757 + 16 Automobile a nd other sales taxes 12,992,043 8,428,577 + 54 All licenses and f ees .................. .. 15,996,131 14, 217,007 + 13 Franchise taxes -----··------·----------···· 13,164,868 1,306,34 1 +908 M ineral leases, land sales, rentals, and bonuses ................ 11,723,101 11,985,627 2 Oil and gas r oya lties .................. 12,262,809 13,031,171 6 Interest earned .............................. 12,051,515 11,171,616 + 8 Unclassified receipts .................. .. 5,217,326 4,766,495 + 9 Other miscellaneous revenue ..... . 5,274,103 4,890 ,145 + 8 Federal a id for highways .......... .. 73,145 ,285 63,580,420 + 15 Federal a id for public welfar e .... 50,649,410 59,575,527 -15 Other federal aid ........................ .. 16,983,963 8,184,212 +108 Donations and grants .............. .. 134,580 246,485 -45 Building Construction: JANUARY PERMITS LESS THAN SEASONALLY INDICATED By ROBERT H. DRENNER Total urban building construction authorized in Texas in January was valued at an estimated $87,947,000, down 7% from the December total and 20% below January 1959. The comparison with December was considerably more unfavorable when January permits were adjusted for seasonal factors, because January authorizations in Texas usually show an increase from December. This January the monthly adjusted index fell from December's 246 (1947­49=100) to 186, lowering the index level by almost one­fourth. It would not be legitimate to regard this steep drop as indicative of an equally steep decline in building activity in the state, for the work covered by permits is usually spread over several months and in some cases over many months. It would therefore be more appropriate to con­sider the January decline as primarily another of the steep variations that have characterized the monthly index since early last fall. On the other hand, the history of the index for recent months does seem to give some evidence that over-all building construction in Texas is still in a slowly declining phase of the building cycle. The upward vari­ations of the index have recently tended to stop short of the value reached by the immediately preceding upward variation, and, in turn, downward variations have tended to be to index values below those in preceding declines. The index value fell below 200 in January for the first time since February 1958. RESIDENTIAL New urban residential construction authorized in the state in January amounted to an estimated $49,770,000, or approximately 63% of all new building and 56% of all building construction authorized during the month. The dollar total was up 14% from December but 31 % below January 1959. After seasonal adjustment, however, the December-to-January dollar gain translated into a decline; the increase was much less than was seasonally indicated. The monthly adjusted residential index fell to 206 from 228 in December; as was the case with the over-all index this was the lowest value since February 1958. ' The monthly index of new residential building author­ized in Texas tends to vary significantly less than the other Building Construction in Texas" Index • Adjusted for seasonal variation • 1947-1949·100 ESTIMATED VALUE OF BUILDING AUTHORIZED Source: Bureau of Business Research in cooperation with the Bureau of the Census, U. S. Depart ment of Commerce P ercent change Jan 1960 Jan Deo J an from Classification 1960 1959 1969 Dec. 1959 Thousands of dollars CONSTRUCTION CLASS ALL PERMITS ............... . 87,947 94,617 110,590 - 7 New construction ··-----··············· 78,460 85,331 102,328 - 8 Residential (housekeeping ) 49,720 43,675 72,687 + 14 One-family dwellings ....... . 46,980 39,165 67,789 + 17 Multiple-family dwellings 3,790 4,510 4,798 -16 N onresidential buildings .... 28,690 41,656 29,741 -81 Nonhousekeeping build­ ings (residential ) ....... . 1,309 127 l ,229 +931 Amusement buildings ... . 174 2,036 l ,539 -91 Churches ........................... . 3,032 3,272 2,589 - 7 Factories and workshops 2,527 2,302 3,685 + 10 Garages (commercial and private) ......................... . 278 1,221 344 - 77 Service stations -­---­---­-----­ 865 487 740 + 78 Institutional buildin gs ... . 1,096 l,213 2,690 -10 Office-bank buildings• ... . 2,356 10,559 3,817 -78 Works and utilities ....... . 1,772 856 450 + 107 Educational buildings ... . 7,771 7,964 6,428 - 2 Stores a nd mercantile buildings .... 6,714. 10,585 5,161 -37 Other buildings and structures:I: ........... . 796 1,044 1,079 -24 Additions, alterations, and repairs§ ............................. . 9,487 9,286 8,262 + 2 METROPOLITAN vs. NON-METROPOLITANt Total metropolitan ................... . 67,096 71,531 78,961 Central cities ...................... . 63,227 58,724. 62, 903 Outside central cities ........... . 13,869 12,807 16,058 + Total non metropolitan ........... . 20,851 23,086 31,629 -10 10,000 to 50,000 population 12,403 14,143 22,453 -12 Less than 10,000 population 8,448 8,943 9,176 - 6 • Includes public (nonfederal ) administrative buildings beginning July 1957. t Includes government (nonfederal) service bu ildings beginning July 1957 . § Includes additions and alterations to public buildings beginning July 1957. t As defined in 1950 cen sus. two major indexes, and for the past three months new residential building authorized in the state has been at its lowest average level since early 1958. In spite of the low January residential index value, however, residential authorizations in the months immediately ahead can be ex­pected to show some improvement (barring a prolonged period of unusually bad weather). The extreme tightness of mortgage money in recent months has significantly eased -at least temporarily-and builders now seem more opti· mistic about their probable rate of starts this year than they were a few months ago. NONRESIDENTIAL New nonresidential building valued at approximately $28,690,000 was authorized in the state in January, an unusually low figure which was 31 % below the preceding pecember and 4% under January 1959. The decline was 1~ contrast to an expected seasonal gain of about 10%. The discrepancy forced the adjusted nonresidential index down to 58% of its December value-from 278 to 160, the low­est index value since January 1958. However, the Decem· TEXAS BUSINESS REVIEW her index had risen from 172 in November, and such ex­treme variations have not been unusual. The influence of large single projects, which. can account for .a substan:ial portion of a monthly permit total and permits for which are issued irregularly, is much more marked on the non· residential category than elsewhere. In view of the fact that nonresidential building in Texas has been slowly gaining strength since the recession and in view of the generally optimistic outlook for the economy as a whole, it is prob. able that the category's disappointing January showing will be offset by sharply higher permits through the next few months. Among the various nonresidential classifications, the best December-to-January dollar percentage gain was re­corded in permits for tourist courts (+912%), which were, however, only 15% above January 1959. Permits for bowling alleys, theaters, and other amusement building dropped sharply, 91 % below the preceding December and 89% under January a year ago. Authorization for new churches dropped 7% but were 17% above last January. Value of new factory construction authorized rose 10% but was under (-31% ) the year-ago figure. Service station permits rose 78% from December and were 17% above January 1958. Hospitals and institutional buildings (-10% from December and -59% from January) and office-bank buildings (-78% and -38%) were two im· portant classifications to show substantial declines in both comparisons. Works and utilities, which previous surveys have indicated are entering a boom construction period, partially validated the surveys by rising 107% from De. cember and 294% from January of last year. School per· mits, down 2% from the preceding month, were up 21 % from January a year ago, and authorizations for new stores, 37% below the December level, were 30% higher than in January 1959. CREDIT RATIOS IN DEPARTMENT AND APPAREL STORES Credit Collection ratios• ratiost Number of Classification r eporting stores Jan 1960 J an 1959 Jan 1960 J an 1959 ALL STORES ........................ 55 66.2 64.1 37.0 38.8 BY CITIES Austin ·······-·--·················-------·-·-····· 5 ~2. 5 64.1 44.6 48.1 Cleburne ·············----------·-············· 3 44.8 34.5 47 .9 47 .5 Dallas ··········-················----------------­ 4 70.5 71.3 47.7 49.2 El Paso ·········---·-···················-·-·-·· 3 55.6 55.3 29.5 31.2 Fort Worth ············-------·········-····· 3 68.3 68.2 31.9 31.9 Galveston ·······--------······················· 4 66.~ 67.0 47 .5 47.3 Houston ········································ 4 70.4 64.9 41.6 46.1 San Antonio ································ 3 78.7 67.7 42.4 49.9 Waco ··································-----· 3 54.9 54.7 36.l 38.9 BY TYPE OF STORE Department stores (over $1 million) ················ 15 65.7 94.7 35.2 36.7 Department stores (under ii million) ················ 16 47.5 47.5 42.3 45.9 Dry goods and apparel stores 4 72.4 74.3 56.6 58.8 Women's specialty shops ········ 12 69.6 62.9 38.4 41.7 Men's clothing stores ·············· 8 69.8 68.0 40.9 42.2 BY VOLUME OF NET SALES Over $1,600,000 ·························· 19 67 .7 65.3 36.4 38.1 $600,000 to U,500,000 ·····--······· 14 59.3 57.2 43.1 47.6 $260,000 to $500,000 ·················· 11 53.2 53.5 40.8 42.1 Less than $250,000 ·········----·--···· 11 47.6 48.1 39.2 38.8 • Credit sales dhided by net sales. t Collections during the month as a percent of accounts unpaid on the first of the month. Retail Trade: JANUARY SALES DOWN FROM A YEAR AGO By ROBERT H. DRENNER Total retail sales in Texas in January 1960 were an estimated $1,041.7 million, down 24% from the preceding month and 6% below dollar volume in January 1959. The December-to-January decline, however, was only slightly greater than normal; the seasonally adjusted index of total sales fell from 213 in December to 209. Sharply lower sales of nondurable goods (-29%) were largely responsible for the magnitude of the over-all de­cline in dollar volume from December. Sales of durables were off by only 7%. In contrast, though sales of both durables and nondurables were below their year-ago levels, durable goods volume, off 15%, accounted for the major portion of the percentage decline in total retail sales from January 1959. Nondurables dollar volume was down only 2%. ESTIMATES OF TOTAL RETAIL SALES (Unadjusted for seasonal variation) (Millions of dollars) Percent changes Type of store January 1960 Jan 1960 from Dec 1959 J an 1960 from Jan 1959 Total ............................................ 1,041.7 -24 -6 Durable goods• .................................. 273.9 -1 -15 Nondurable goods ............................ 767.8 -29 -2 • Contains automotive stores, furniture stores, and lumber, building material, and hardware stores. Adjusting January 1960 volume of durable and non­durable goods sales for seasonal variation gives a some· what different impression of retail sales trends from December to January. To repeat, the adjusted index of total sales fell nominally to 209 from 213. The 29% de­cline in dollar sales of nondurable goods, on the other hand, was substantially larger than seasonally normal, and the adjusted index of such sales dropped from December's 248 to 234. In contrast, durable goods volume, though off 7% from December in total dollar sales, declined signifi. cantly less than was seasonally' indicated; the adjusted monthly durables index rose strongly to 162 from 146 in the preceding month. Sales of durables, however, ac· counted for only 27% of total dollar sales in January, and were unable to offset weakness in the nondurables category. On the whole, lower January sales of the various major categories of nondurable goods paralleled the expected sea­sonal declines in such sales. Volume of apparel stores, which usually falls about 45% from December to January, dropped 48% (and was 4% below volume a year ago). Drug store sales, down 23 % compared with a normal sea­sonal 26% sales decline between the two months--and, because of the prevalence of flu over the state and higher purchases of medicines, was one of the two classifications in the nondurables category to show a sales gain ( +4%) from January 1959. January sales by food stores, which usually drop about 12% from December, fell 9%, and a large enough number of department and apparel stores gasoline and service stations fell 15% from December were 4% below the same month a year ago. Volume of to permit city comparisons, sales by such stores in January (compared with a normal seasonal drop of about 9 % ) , but fell below January a year ago in 21 cities; 13 cities showed was 7% above January 1959. Sales by general merchan­gains. dise stores, including department stores, showed the great­Advertising linage in Texas newspapers in January was est variation in the nondurables category from the cus­an estimated 5% above linage reported in January 1959. tomary seasonal trend; expected to decline about 49%, they actually dropped 57% from December and were 3% Newspaper Advertising liaage below January a year ago. Volume of other nondurables retailers, including florists, jewelry stores, liquor stores, and office, store, and school supply dealers, dropped 42% from December and 1 %from January 1959; the expected December-to-January seasonal decline was 39%. Counterseasonal strength in January sales of durable goods was limited to the automotive category. Dollar vol­ume of automotive stores, including motor vehicle dealers, rose 3 % from the preceding December as dealers began to build up adequate stocks; there is usually a 9% decline in such sales between the two months. The effect of the steel strike on auto sales was still apparent, however; volume was 16% below the same month last year. January retail sales by Texas furniture and household appliance stores fell 35% from December, compared with POSTAL RECEIPTS an expected seasonal drop of about 29%. Volume was 8% below January 1959. Sales in this classification have been Percent change sharply cut into by the decline in new residential building, Jan 9, Jan 9, and will probably show little steady improvement before 1960-1960­ Feb 5, Feb5, homebuilding gains strength, perhaps this fall. The same 1960 1960 observation holds for sales by lumber, building material, from from Dec 12, '59 Dec 12 Jan 10 and hardware stores, which were down a greater-than­Jan 9-from Jan 1() 1959-1959­ Feb 5 Jan 8 Feb 6 Jan 8 Feb 16 seasonal 20% from December and were 17% below Janu­ City 1960 1960 1959 1960 1959 ary 1959. Lower farm income continued to depress sales Index • Ad justed for seasonal variation • 1947.1949·100 250 250 200 200 "" l"-VI l,.r/'1 \..-J A'1, 150 150 I 1..1 ,__ ~ )II., ·­ ~ 100 100 ' l/ 'N ~ 50 50 0 0 19"7 '48 '49 '50 '51 52 53 '.54 55 56 57 58 '59 60 Alice ··························--Borger by farm implement dealers, with dollar volume off 26% ············---·-······· from the preceding months and 17% below volume in Brownfield ····-············· January of last year. Cameron .................... Of 28 Texas cities reporting January retail sales from a Ch ildress --··············-··· Cleburne .................... sufficiently large number of establishments to permit total Coleman ·········--·--···--··· retail sales comparisons, only Beaumont ( +3%), Sherman Cuero ·························­ (+2%), and Wichita Falls ( + 1 % ) reported gains from Den ison --··········--·········· January 1959; declines in the remaining cities ranged E agle Pass ................ Edna ............................ from 1 % in Greenville and Port Arthur to 23% in Paris El Campo ·-·--···---········· and Plainview. Among 36 cities which reported sales from Ga inesviJle ······-·········--Gatesville .................... Goldthwaite ·--·-···--····-­Graham RETAIL SALES TRENDS BY KINDS OF BUSINESS ················-······· Source: Bureau of Business Research In cooperation with the Bureau of Granbury ---·--·-············ the Census, U. S. Department of Commerce Hale Center ................ Hillsboro ---················· Percent change HuntsTille --··············-· Jasper ················--··---­ Normal Kenedy ---···················-· Number of---------­·-······················ seasonal• Actual Kermit reporting Jan 1960 Jan 1960 Jan 1960 Kerrville ············--········ establish-from from from Kingsville ···················· Kind ot business ments Dec 1959 Dec 1959 J an 1959 Kirbyville -----········-···-·· DURABLE GOODS Automotive stores ------·······------··········· Furniture & houshold appliance stores .............................. Lumber, building material, and hardwa r e stores ···············--·------·----­NONDURABLE GOODS Apparel stores ············--······-··------------­Drug stores -------------·························---· Eating and drinking places ............ FOOd stores ····························--············ Gasoline and service stations ·········· General merchandise stores ............ Other retail stores ···········---·-············ 244 140 278 198 135 74 385 355 196 201 $14,712 $20,344 $13,526 -28 + 9 La Grange --··---·········-­ - 9 + 3 -16 Levelland .................... Littlefield .................... - 29 -35 - 8 McCamey ················-··· Marlin ········--··············-­ - 13 -20 -17 Mission ····­···-··············· Navasota ··················· - 45 -48 4 P ecos ················---········· - 26 -23 + 4 Pittsburg ···················· - 5 - 5 6 Sinton ························ - 12 - 9 4 T aft ··········-·········--·---·-·· - 9 -15 + 7 T errell -························· - 49 -57 - 3 Waxahachie ········--····· - 39 -42 - 1 Yoakum ············-·-······ 13,585 23,995 14,82() -43 -5 7,528 12,631 8,806 -40 -15 4,863 9,710 6,705 -50 -27 4,618 8,811 4,814 -48 -4 11,144 20,977 12,96() -47 -U 5,111 9,402 5,763 -46 -11 5,396 9,004 5,722 -40 21,91() 27,464 20,692 -20 + 6 6,089 9,518 6,103 -36 x 4,597 6,850 4,292 -38 + 7 9,558 12,642 10,205 -24 6 12,325 21,024 13,907 -41 -11 5,965 6.453 8,883 -8 + 54 1,740 5,752 1,586 -70 + 10 7,296 lS,819 6,458 -47 + 18 4,375 8,390 3,200 + 29 + 87 l,441 2,598 1,468 -45 -2 5,888 9,435 -38 9,350 14,084 9,840 -34 5,988 11,448 6,062 -48 3,439 5,093 3,640 -32 6,78() 12,327 7,130· -45 9,857 17,411 10,883 -43 12,323 24,()2.7 13,982 -49 -12 2,197 4,985 8,314 -56 -84 3,820 6,574 4,291 -42 -11 6,999 12,049 7,081 -42 6,191 10,059 6.688 -SS 2,822 5,541 2,584 -48 + 9 6,196 10,010 6,263 -38 8,657 13,438 8,825 -36 4,523 6,863 4,142 -84 9 10,911 16,218 9,483 -33 + 15 2,677 4,991 3,287 -46 -19 9,2115 8,037 9,519 + 15 -8 3,159 4,640 2,278 -32 + 89 7,324 12,389 6,347 -41 + 15 \l,825 15,456 9,954 -23 + 19 1,987 11,697 9,176 -32 -IS • Average seasonal change from preceding month to current month. x Change is less than one-half of one percent. l'EXAS BUSINESS REVIEW Local Business Conditions Percent Change P ercent Change Jan 1960 Jan 1S60 Jan 1960 Jan rn6o Jan from from Jan from from City and item 1960 Dec 1959 Jan 1959 City and item 1960 Dec 1959 Jan 1959 ABILENE (pop. 62,500r) -13 BAY CITY (pop. 14,042r) -24t -36 Retail sales Retail sai.es ---·-············--····--------·· Apparel stores ----------------------------------------4St -S8 -13 Drug stores ............................................. . -26t -21 + -26t -13 + 27 Postal receipts• ......................................... $ 10,499 -23 7 Drug stores -------------------------------------------­ General merchandise stores ............... . -49t -48 -2 Bank debits (t housands) _ ............. $ 15,688 9 + 7 Lumber, building material, and + End-of-month deposits (thousands) t ...$ 20,742 s 2 -37 -28 Annual rate of deposit turnover -----·------8.9 + 9 + 7 hardware stores ---------------------------------13t Postal receipts• --------------------------------------$ 93,514 -32 •• Building permits, less federal contracts $ 1,200,590 -64 -50 Bank debits (thousands) -----------------------$ 99,740 7 + 2 BAYTOWN (pop. 28,945r) End-of-month deposits (thousands)t.... $ 64,362 2 •• Postal receipts* .......................................... $ 21,990 -54 -l Annual rate of deposit turnover ------------18.5 7 + 2 Building permits, less federal contracts $ 312,29'1 +429 +127 Employment (area) --------------------------------32,600 3 + 2 4 Bank debits (thousands) ........................ $ 21,536 •• Manufacturing employment (area) 3,200 4 End-of-month deposits (thousands) t ..$ 23,902 6 + Percent unemployed (area) ______ 5.9 + 34 + 9 Annual rate of deposit turnover ........... . 10.9 2 + 2 Employment (area) ............................... . 488,000 2 + 5 ALPINE (pop. 5,261) Manufacturing employment (area ) 96,875 + 2. Postal receipts• ................ . ........... $ 4,499 -29 + 12 + Percent unemployed (area) -···--···--·-····-·· 4.7 + 18 -20Building permits, less federal contracts $ 5,300 + 6 -47 Bank debits (thousands) ...................... $ 2,S97 2 -19 End-of-month deposits (thousands)t.... $ 3,790 7 BEAUMONT (pop. 122,485r) Annual rate of deposit turnover ----········ 8.2 + -4 Retail sales ....................... ······--···--····----····· -24t -38 + 3 Apparel stores -45t -55 + 2 AMARILLO (pop. 147,949r) Automotive stores ...... . 9t -3 + 14 Retail sales ................................................. . -24t -18 -9 -48 Eating and drinking places -----····-······ -St + 17 + 13 Apparel stores ....................................... . -45t •• Furniture and household -9t + 6 -10Automotive stores ······----····-·-·······-······--· appliance stores ---------·-··-·················· -29t -48 +- Drug stores ............. -----·--···-···········--·-····· -26t -25 10 --64 General merchandise stores --------------·· -49t + 2 Eating and drinking places ............... . -St 8 + 6 Lumber, building material, and Food stores ......................... . -12t -l -7 hardware stores _________ ----------------·--··· -13t -16 -2S Furniture and household Postal receipts• ......................................... $ 110,918 -33 -2 appliance stores ............. .................... -29t -23 -22 Building permits, less federal contract• $ 482,027 -34 -61 Liquor stores ............... --··--··--·····----------· -39 -13 Bank debits (thousands) ........................ $ 158,865 -12 -3 Lumber, building material, and End-of-month deposits (thousands) t ....$ 102,185 5 -4 hardware stores -·····················-···----·· -13t -14 -38 Annual rate of deposit turnover ·-·-········ 18.l 8 •• Postal receipts• .......................................... $ 180,011 -24 + 4 Employment (area) ............................... . 103,000 -l Building permits, less federal contracts $ 2,841,200 -S2 -48 Ma nufacturing employment (area) .. 32,270 l -l Bank debita (thousands) ....................... $ 216,S51 9 2 Percent unemployed (area) ............... . 9.5 + 14 -14 End-of-month deposits (thousands) t ....$ ll7,S45 3 4 Annual rate of deposit turnover ............ 21.8 8 + Employment (area) .................................. Sl.800 2 + BEEVILLE (pop. 15,105r) Manufacturing employment (area) S,860 •• + s Retail sales Percent unemployed (area) .................... S.l + 31 + 11 Lumber, building material, and hardware stores -·-·········-·······--------13t -37 -20 ARLINGTON (pop. 45,340r) Postal receipts• ..........................................$ 10,010 -45 -15 Postal receipts• ......................................... $ 37,022 -2S + 13 Building permits, less federal contracts $ 47,648 -37 -77Building permits, less f ederal contracts $ 688,737 -37 -44 Bank debits (thousands) ........................ $ 9,733 6 9 Employment (area) ............................... . 206,800 -l + 3 End-of-month deposits (thousands) t ....$ 13,444 2 6 Manufacturing employment (area) S3,525 -s -4 Annual rate of deposit turnover ········-·--8.6 3 -Percent unemployed (area) --····--·······-·· 5.3 + 23 18 4 AUSTIN (pop. 197,000') BIG SPRING (pop. 30,433r) Retail sales ................................................ . -24t -22 5 Retail sales ................................................. . -24t -14 Apparel stores ....................................... . -4St -44 5 Drug stores --·-······················----···-············ -26t -26 + 4 Automotive stores ····-···--------9t + 15 3 Lumber, building material, and Enting and drinking places ...... . -st + 8 -13 -12 12 - Furniture and household hardware stores ·-·······-··-------------··--····· -13 Postal receipts• ......................................... $ 32,140 -22 •• appliance stores -29t -36 3 Building permits, less federal contracts $ 149,S76 + 32 -60 Gasoline and servi~~--~~~~-i~~~--~~~~~:~~~~~~ 8 -9t -11 + Bank debits (thousands) ........................ $ 40,788 + 4 3 General merchandise stores 8 -49t -56 End-of-month deposits (thousands) t ....$ 29,772 + 9 Lumber, building material, and Annual rate of deposit turnover ........... . 16.6 + 3 + 6 hardware stores -13t -33 -15 Postal r eceipts• .......::::::::·:::::::::::::::::::::::$ 359,736 -13 + 7 Building permits, less federal contracts $ 2,770,681 + 35 -35 BRADY (pop. 5,944) Bank debits (thousands) ....................... $ 227,107 + 6 + 15 Postal receipts• -··········-·-······--··············---· .$ 3,713 -42 -6 End-of-month deposits (thousands) t ....$ 138,970 -17 -6 Building permits, less federal contracts $ 50 -99 -99 Annual rate of deposit turnover ............ 17 .8 + 13 + 11 Bank debits (thousands) ........................ $ 4,457 5 -10 Employment (area) ................................ 73,500 -l + 3 End-of-month deposits (thousands) t ....$ 6,924 4 -2 Manufacturing employment (area) 6,010 + 4 + 9 Annual rate of deposit turnover ····-------· 7.6 3 -10 Percent unemployed (area) .................. 4.1 + 52 + 5 For explanation of symbols, see page 23. MARCH 1960 Percent Change Percent Change Percent Change Percent Change Jan 1960 J a n 1960 Jan 1960 Jan 1960 City and item J a n 1960 from Dec 1959 from Jan 1959 City and item Jan 1960 from Dec 1959 from Jan 1959 BRENHAM (pop. 6,941) DALLAS (pop. 641,000r) Postal recei1)ts• ......................................... $ 6,42 1 -49 - 6 R et a il sales ................................................. . - 32t - 31 -11 Building permits, less federa l contracts$ 36,928 +966 -77 Apparel stor es ....................................... . - 53t - 47 + 1 Dank debits (thousands) ........................ $ 9,012 + 1 + 4 Automotive stores ................................. . - 15t - 8 -29 End-of-month dep osits (thousands) t....$ Annual rate of deposit turnover ---------··· 12,784 8.3 - 3 •• 3 + 6 Eating a nd drinking places ............... . Florists ..................................................... . -- St 36t -- 4 50 -11 8 Food s tores ............................................. . - 22t - 16 + 1 BROWNSVILLE (pop. 36,066) R etail sales Automotive stores ------------·-···················· Lumber, building material, and hardware stores ·············------------········· Postal receipts• ........................................ $ Building permits, less federal con tracts$ -24t -9t -13t 28,013 231,407 -27 -14 -59 -33 -44 -8 -17 -12 + 8 + 65 Furniture a nd household appliance stores ............................... . General merchandise stores ................ Jewelry stores ....................................... . Lumber, building material, and hardware stor es .................................. Office, stor e, and school s upply dealers ........................ --+ 20t 57t 2t St -4S -71 -SS -15 -3 -19 -22 -8 -17 + BROWNWOOD (pop. 20,181) Postal receipts• .......................................... $ 2,052,318 Building permits, less federal contracts $11,544,714 -14 + 19 + 8 + a Reta il sales ................................................. . - 24t - 43 -11 Da nk d ebits ( thousa nds) ........................ $ 3,077,131 - 6 + 18 Apparel stor es ....................................... . -45 t -46 - 1 End-of-month depos its (thousands)t.. $ 1,132,014 -10 - 1 Furniture a nd househ old Annual rate of deposit turnover ............ 31.0 5 + u appliance stores ................................. . - 29t - 42 + 15 Employment (area) .................................. 430,600 + + 12 P ostal receipts• .......................................... $ 20,266 -32 -15 M a nufacturing employment (area) 98,775 + 9 + 12 Building permits, less federal contracts $ 61 ,962 +192 +213 Percent unemployed (area) .................... 4.2 + 40 - 5 Dank debits (thousands ) ........................ $ 13,121 -10 + 8 End-of-month deposits (thousands) t....$ Annual rate of deposit turnover ........... . 13,131 11.9 -1 -10 -2 + 10 DEL RIO (pop. 14, 292') Postal r eceipts• ........................................ $ 11 ,645 -42 -7 BRYAN (pop. 23,883r) R etail sales ................................................. . Apparel stor es ....................................... . Automotive stores ................................. . -24t -45 -9 -29 -57 -7 -12 -5 -12 Building permits , less f ederal contracts $ Dank debits (thousands ) ....................... $ End-of-month d eposits (t housands) t $ Annual rate of deposit turnover .. ....... . 152,609 9,792 12,600 9.2 + 86 + 2 2 + 2 -10 Food stor es ............................................. . - 12t -11 - 5 Furniture and household DENTON (pop. 29,479r) apt>liance stores ··-·--·····-·-···--·--·-·········· - 29t - 45 -34 R etail sales ................................................ . Lumber, building material, and hardware stores ----·-------­------------·------· P ostal receipts • .......................................... $ -13t 19,946 -14 -31 -17 + 3 Drug stores ............................................. . Postal receipts• ....................................... $ Building permits, less f ederal contracts $ -26t 29,933 231,725 -39 -19 -31 + 8 + 23 -83 CALDWELL (pop. 2,098') Dank deb its (thousands ) ....................... $ 2,699 + 27 + 26 EDINBURG (pop. 15,993r) R etail sales ................................................. . End-of-month deposits ( thousands ) t ... $ Annual rate of det>osit turnover ........... . 3,957 7.7 -12 + 38 -8 + 31 Automotive stores ................................. . Postal r eceipts• .. ........................................$ -9t 9,882 + 2 -30 -- 82 5 Building permits, less federal contracts $ 166,437 + 66 -28 CISCO (pop. 5,230) Postal receipts• .......................................... $ Bank d ebits (thousands ) ........................ $ 3,391 3,098 -52 -14 -10 + 6 Dank debits (thousands ) ........................ $ End-of-month deposits (thousands)t.. $ Annual rate of deposit turnover ........... . 16,079 9,285 21.1 + 12 + 8 + 17 + 10 -1 + 16 End-of-month deposits (thousands ) t ....$ Annual rate of deposit turnover ........... . 4,045 9.3 + 3 -12 + 8 •• EL PASO (pop. 244,000') Retail sales ................................................. . - 24t - 45 - 8 CORPUS CHRISTI (pop. 180,000r) Apparel stores ....................................... . - 45t - 43 -22 Retail sales ................................................. . A pparel stor es ........................................ Automotive stores ................................. . General merchandise stores ............... . Lumber, building material, and -24t -45t -9t -49t -35 -32 -2 -68 -22 -12 -27 -19 Automotive stores ................................. . Drug stores ······························ ·······-······· Food stores ............................................. . General merchandise stores ............... . Lumber, building material, and ---- 9t 26t 12t 49t + 20 -28 -11 -59 + 4 -8 -11 hardwa re stor es .................................. - 13t + 3 -26 ha rdware stores .................................. - 13t - 1 -27 Postal r eceipts• ......................................... $ 158,416 -33 - 3 P ostal receipts• .......................................... $ 264,479 -80 + 8 Building permits, less federal contracts $ 1,292,778 + 21 -35 Buildin g permits, less f ederal contracts$ 2,031,676 -48 -54 Ban k debits (thousa nds ) ....................... $ End-of-month deposits (thousands) t....$ 204 ,599 110,956 + 9 7 •• 4 Dank debits (thousands) ........................ $ 350,344 End-of-month deposits (thousands)t.. $ 170,767 -12 -1 7 6 Annual r ate of depos it turnover ............ Employment (area ) .................................. 21.4 64 ,400 + 9 1 + 2 2 .t\.nnual rate of deposit turnover ............ Employment (area) ............. .................... 24.5 89,500 + 18 -1 8 + 9 Manufacturing employment ( area) .... Percent unem ployed ( a r ea ) .................... 8,420 7.3 + 2 + 16 + 4 4 Ma nufacturing employment (area) .. P ercent unemployed (area) .................... 13,530 5.S + 1 + 18 + 2 + 13 CORSICANA (pop. 25,262r) FREDERICKSBURG (pop. 4,341') P ostal r eceipts• .......................................... $ Build ing permits, less federal contracts$ 17,844 83,780 -63 + 107 + 2 P ostal receipts• .......................................... $ Building permits, less federal contracts $ 4,368 68,880 -49 +145 -8 + 12 Dank debits (thousands ) ....................... $ 19,156 2 4 Dank debits (thousands) ...................... $ 7,219 + 2 + 15 End-of-month deposits (thousands ) t . $ 19,937 3 End-of-month deposits (thousands) t ..$ 8,546 + 23 + 40 Annual rate of deposit turnover ........... . 11.3 + 3 Annual rate of deposit turnover ....... . 11.2 -12 For explanation of symbols, see page 23. 18 TEXAS BUSINESS REVIEW Jan 1960 Jan 1960 J an 1960 Jan 1960 Jan from from J an from from City and item 1960 Dec 1959 Jan 1959 City and item 1960 Dee 1959 Jan 1959 FORT WORTH (pop. 373,000r) Retail sales ................................................. . Apparel stores Automotive stores ---······­----··············· Drug stores ............................................ . Eating and drinking places ---- 29t 36t 16t 15t •• -21 -22 •• -14 -1 -16 -3 -51 -7 -7 GRAND PRAIRIE (pop. 35,000") Postal r eceipts• ..........................................$ 19,256 Building permits, less federal contracts $ 235,175 Employment (area) .................................. 430,600 Manufacturing employment (area) .. 93,775 Percent unemployed (area) .................... 4.2 -44 + 64 + 6 + 9 + 40 + 4 -88 + 12 + 10 5 Food stores ................................ . Furniture and household appliance stores -----·············· Gasoline and service stations . General merchandise stores ... Lumber, building material, and hardware stores ....................... . 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) ................. . -lOt -28t -lOt -60t + 12t 705,800 3,268,334 790,851 861,959 25.7 206,800 53,525 5.3 -15 -9 + 11 -58 -17 -22 + 27 9 4 7 + 23 -11 -4 + 14 -4 -34 + 14 + 7 4 4 •• + 3 -4 -18 GREENVILLE (pop. 20,034r) Retail sales ................................................. . Apparel stores ...................................... . Lumber, building material, and hardware stores ---­------------------------····-­Postal receipts• ................ . ...... $ Building permits, less federal contracts $ Bank debits (thousands) .......................... $ End-of-month deposits (thousands)+.... $ Annual rate of deposit turnover __ HARLINGEN (pop. 31,799r) Retail sales ................................................... . Postal r eceipts• .... ............................ $ Building permits, less federal contracts $ -24t -45t -13t 17,997 242,800 17 ,130 16,185 12.5 -9t 34,059 374,325 -24 -48 -19 -52 + 26 2 3 + + 41 -32 3 -1 -16 -25 •• -26 + + 7•• + 11 + 2 + 39 GALVESTON (pop. 71,590r) Retail sales .............................................. . - 24t - 32 - 5 Bank debits (thousands) .......................... $ End-of-month deposits (thousands) t .$ Annual rate of deposit turnover 39,326 26,344 17.5 + 8 + 5 + 7•• + 7 Apparel stores ...................................... . Automotive stores ................................. . -- 45t 9t -52 + 16 + 10 HENDERSON (pop. 11,606) Food stores ............. . .................... - 12t - 10 Retail sales ................................................. . - 24t - 37 -15 Furniture and household Apparel stores -·---· ­------·--·-··-·················· - 45t - 62 appliance stores ................... . - 29t - 8 9 General merchandise stores _______ _ -49 t -66 - 2 Lumber, building material, and P ostal receipts• ........................................ $ 9,203 -41 - 7 hardware stores -···········---····-·-····--·····­ - 13t - 28 -45 Building permits, less federal contracts $ 39,600 -16 -93 Postal receipts• ......................................... $ 81,181 -30 - 6 Bank debits (thousands) ........................ $ 7,441 7 1 Building permits, Jens federal contracts $ 89,080 -84 -62 End-of-month deposits (thousands) t ... $ 15,572 3 5 Bank debits (thousands) ........................ $ End-of-month deposits (thousands) t ....$' 91,127 66,016 -11 + 3 + 7•• Annual rate of deposit turnover ........... . 5.6 7 + 2 Annual rate of deposit turnover ........... . Employment (area) ................................. . Manufacturing employment (area) .. 16.8 51,200 11,000 -12 + + 12 + + 4 + 1 HEREFORD (pop. 7,500r) Postal receipts• .... .....$ Building permits, less federal contracts $ 7,507 67,850 -38 -31 -3 -82 Percent unemployed (area) ................... . 6.2 + -Hi Bank debits (thousands) ........................ $ 12,773 -12 + 2 End-of-month deposits (thousands)+ .... $ 11,580 - 4 1 GARLAND (pop. 28,15lr) Annual rate of deposit turnover ........... . 13.0 -10 Postal reeeipts• .......................................... $ Building permits, less federal contracts $ Employment (area) ................................. . Manufacturing employment (area) .. Percent unemployed (area) .............. 26,164 1,901,890 430,600 93,775 4.2 -40 +238 + 6 + 9 + 40 + 24 + 35 + 12 + 10 -5 HOUSTON (pop. 700,508u) R eta il sales'!! .............................................. . Apparel stores'!! ..................................... . Automotive stores'!! ............................... . Drug stores'!! ........................................... . ---- 26t 43t 14t 17t ---- 25 49 24 18 -5 -7 -15 + 8 E ating and drinking places'!! .. - 9t -16 7 GIDDINGS (pop. 2,532) Postal ree•ipts• .......................................... $ Building permits, less federal contracts $ Bank debits (thousands) .......................... $ End-of-month deposits (thousands)+ ..$ Annual rate of deposit turnover 3,329 166,851 2,423 8,821 7.4 -9 + 2 4 + 4 + 28 + •• + 4 Food stores'!! ........................................... . Furniture and household appliance stores'!! ............................... . Gasoline and service stations1J ----··-···­--­General merchandise stores1J ______ Liquor stores'!! .................................. . Lumber. building material, and ---- 17t 33t St 52t -6 -52 -15 -48 -52 -12 + 8•••• hardware stores'!! ............................. + 5t -16 -11 GILMER (pop. 4,096) Retail sales General merchandise stores ···------------­Postal receipts• .......................................... $ Building permits, leas federal contracts $ -49 4,039 9,000 -72 -46 + 80 + 1 + 13 +125 Other retail stores ................................ -38t Postal receipts• ............................................ $ 1,495,633 Building permits, less federal contracts $17 ,049,024 Bank debits (thousands) ........................ $ 2,538,029 End-of-month deposits (thousands)+ .... $ 1,284,735 Annual rate of deposit turnover ............ 23.3 -29 -17 -25 -13 -3 -14 + 6 + 7 10 1 + 3 3 Employment (area) ................................ 488,000 - 2 + 5 GLADEWATER (pop. 6,28Ir) Postal receipts• ............................................ $ 4,829 -47 + 2 Manufacturing employment (area) .. Percent unemployed (area) ................ 96,375 4.7 + 2 + 18 + 4 -20 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) ···················· 2,275 3,406 3,988 9.9 28,100 5,060 4.1 -27 -11 7 -6 -1 •• + 24 -91 -24 -11 -14 + 3 + 8 -13 IRVING (pop. 40,065r) Postal receipts• ......................................... $ Building permits, less federal contracts $ Employment (area) ................................. . Manufacturing employment (area) .. Percent unemployed (area) ................... . 21,101 859,783 430,600 93,775 4.2 -45 + 59 + 6 + 9 + 40 + 7 -15 + 12 + 10 -5 For explanation of symbols, see page 23. MARCH 1960 Percent Change Percent Change City and item J an 1960 Jan 1960 from Dec 1959 J an 1960 from J an 1959 City and item Jan 1960 J an 1960 from Dec 1959 J a n 1960 from Jan 1959 JACKSONVILLE (pop. 8,607) Postal receipts• .......................................... $ 12,160 Building permits, less federal contracts $ 29,000 Bank debits (thousands) ........................ $ 10,830 End-of-month deposits (thousands)! .... $ 8,716 Annual rate of deposit t urnover ............ 14.5 -26 + 66 + 12 -5 + 13 -5 -80 LUBBOCK (pop. 152,776r) Retail sales ................................................... . Automotive stores ................................. . Furniture and household applia nce stores ................................. . P ostal receipts• ..........................................$ Building l)ermits, less federal contracts $ -24t -9t -29t 151,264 4,058,323 -34 + 40 -38 -18 + 7& -5 -10 + 8 + 8 + 15 KILGORE (pop. 12,373r) Potal receipts• ............................................$ Bank debits (thousands) ........................$ End-of-month deposits (thousands ) t....$ Annual rate of depos it turnover ····---· Employment (area) ·················--············· Manufacturing employment (area) .. Percent unemployed (area) ·····-·············· 11,038 14,544 15,226 11.4 28,100 5,060 4.1 -48 + 10 -1 + 11 -1 •• + 24 -17 -16 + 2 -16 + 3 + 8 -13 Bank debits ( thousands) ........................ $ End-of-month deposits (thousands ) t ....$ Annual rate of deposit turnover ........... . Employm ent (area) ................................. . Ma nufacturing employment (area) .. P er cent unemployed (area ) ................... . LUFKIN (pop. 20,846r) Postal r eceipts• ........................................ . $ 298,224 130,409 27.0 53,900 5,560 3.1 17,478 + 2 8 2 •• + 19 -46 + 22 + + 21 + 8 + 8 -80 -9 KILLEEN (pop. 26,646r) R etail sales Apparel stores ···············---------················ - 45t - 58 -14 Building permits, less federal contracts $ Bank debits (thousands) ........................ $ End-of-month deposits (thousands ) t ....$ Annual rate of deposit turnover ......... . 247,000 24,257 24,243 11.6 -8 -17 -7 -15 + 24 + 6 •• + 5 Lumber, building material, and hardware stores ····------­------------········· Postal receipts• .......................................... $ -13t 26,470 -15 -28 + 14 -2 McALLEN (pop. 25,326r) Reta il sales Build ing permits, less federal contracts $ Bank debits (thousands) ........................ $ End-of-month deposits (thousands) t ....$ Annual rate of deposit turnover ............ 234,277 9,907 6,890 16.3 -75 •• -10 + 1 + 80 + 14 -3 + 10 Automotive stores ....................... Postal receipts • .......................................... $ Building permits, less federal contracts $ Bank debits (thousands ) ........................$ -9t 26,217 445,290 29,878 + 26 -32 + 62 + 11 -8 + 8 -50 + 16 LAMESA (pop. 13,813r) Postal receipts• ........................................ $ 11,979 -19 + 4 End-of-month deposits (thousands );.. $ Annual rate of deposit turnover ........... . 19,505 17.3 -11 + 12 -8 + 15 Building permits, less federal contracts $ Bank debits (thousands ) ........................$ End-of-month deposits (thousands ) t .... $ Annual rate of deposit turnover ---------··· 290,750 25,686 20,283 15.6 + 46 + 18 + 5 + 19 -. 14 + 18 -3 + 20 McKINNEY (pop. 16,653r) Build ing permits, less f eder al contracts $ Bank debits (thousands ) ........................ $ End-of-month deposits (thousands ) t .. $ 153,700 10,409 12,812 + 13 + 1 + 20 + 18 + LAMPASAS (pop. 4,869) Postal receipts• ......................................... $ Building permits, less federal contracts $ Bank debits (thousands ) ........................ $ End-of-month deposits (thousands) t ... $ Annual rate of deposit turnover ........... . 4,127 42,000 6,419 6,456 11.8 -52 + 12 + 9 -3 + 11 -10 -21 -19 -5 -16 Annual rate of deposit turnover --···--·--·· MARSHALL (pop. 28,444r) R eta il sales Apparel stor es ....................................... . General merchandise stores ............... . Postal receipts* .......................................... $ 9.7 -45t -49t 23,702 + -48 -68 -28 + 17 + + + LAREDO (pop. 59,350r) Postal receipts• ......................................... $ Building permits, less federal contracts $ Bank debits (thousands) ........................ $ 30,038 72,370 30,740 -30 -39 + 7 + 8 -79 + 14 Building perm its, less f ederal contracts $ Ba.nk debits (thousands ) ........................ $ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover ........... . 138,190 18,868 19,367 11.3 -28 + 5 7 + 9 -19 + 5 + End-of-month deposits (thousands) t ....$ Annual rate of deposit turnover ........... . 22,533 16.2 2 + 5 + 3 + 11 MERCEDES (pop. 10,081) Postal receipts• .......................................... $ 4,611 -53 + 18 LLANO (pop. 2,957r) Postal r eceipts• .........................................$ Building permits, less federal contracts $ Bank debits (thousands) ........................$ 2,430 14,395 2,420 -24 +2299 9 + 21 + 17 -10 Building permits, less federal contracts $ Bank debits (thousands) ........................ $ End-of-mon ths deposits (thousands)t.. $ Annual rate of deposit turnover ............ 20,155 7,283 4,803 18.1 + 18 + 24 -1 + 20 + 28 + 25 + 8 + 17 End-of-month deposits (thousands ) t ....$ Annual rate of deposit turnover ........... . 3,827 7.4 6 5 + 4 -14 MIDLAND (pop. 54,288r) Postal receipts* .......................................... $ 72,690 -49 - 8 LOCKHART (pop. 7,067r) Retail sales Apparel stores ....................................... . Postal receipts• .......................................... $ -45t 3,870 -45 -38 + 3 + 2 Build ing permits, less federal contracts$ Bank debits (t housands) ........................ $ End-of-month deposits (thousan ds ) t .. $ Annual rate of deposit turnover ........... . 1,679,200 112,330 9·1.606 14.2 8 7 6 7 -66 + 1Z + ' + 6 Building permits, less federal contracts $ Bank debits (thousands) ..........................$ End-of-month deposits (thousands ) t ....$ Annual rate of deposit turnover ........... . 150 4,572 5,462 9.7 -99 + 16 -6 + 18 -99 2 + 2 + 3 MONAHANS (pop. 10,183r) Postal receipt s• ..........................................$ Building permits, less federal contracts $ Bank debits (thousands) ........................ $ 7,459 244,575 9,829 -89 + 18 5 --- 7 21 6 LONGVIEW (pop. 46,688r) Postal receipts• .......................................... $ 39,186 -30 + 8 End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover ........... . 8,185 14.3 7 - 7•• Building permits, less federal contracts $ Bank debits (thousa nds) ........................ $ End-of-month del)osits (thousands ) t ....$ Annual rate of deposit turnover ............ Employment (area) ............................... . Manufacturinir employment (area) .. P ercent unemployed (ar ea) ................... . 476,350 44,775 35,041 14.5 28,100 5,060 4.1 + 16 + 6 -10 + 8 -1 •• + 24 -53 + 2 + + 1 + 3 + 8 -13 NACOGDOCHES (pop. 14,770r) Postal r eceipts• .......................................... $ 12,908 Building permits, less feder al contract s$ 74,439 Bank debits (thousands) ........................$ 13,401 End-of-month deposits (thousands ) i .. $ 15,833 Annual rate of deposit turnover ............ 10.5 -27 +247 2 + 6 -' + 58 -18 + ' -12 For explanation of symbols, see page 28. TEXAS BUSINESS REVIEW Percent Change Percent Change Jan 1960 Jan 1960 Jan 1960 Jan 1960 Jan from from Jan from from City and item 1960 Dec 1969 Jan 1969 City and item 1960 Dec 1959 Jan 1969 NEW BRAUNFELS (pop. 12,210) PLAINVIEW (pop. 21,I06r) Retail sales ................................................. . Retail sales ................................................. . - 24t - 26 -23 Automotive stores -·············-----·--·-·········· - 9t + 7 -16 Apparel stores ....................................... . - 45t - 39 + 3 Postal receipts• .......................................... $ 14,365 -61 -18 AutomotiYe stores ................................. . - 9t - 4 -28 Building permits, less federal contracts $ Bank debits (thousands ) ........................$ 365,199 11,834 + 85 1 + 19 + 89 + 6 General m erchandise stores ............... . Postal receipt s* .......................................... $ -49t 19,557 -67 -33 -19 + 13 End-of-months deposits (thousands) i .. $ 11,084 - 9 + 1 Building p ermits, less f ederal contracts $ 222,450 + 5 + 1 Annual rate of deposit turnover ........... . 12.2 + 22 7 Bank debits (thousands) ................$ 49,256 - 9 + 33 End-of-month deposits (thousands) t .. $ 28,956 + - 5 ODESSA (pop. 87,52lr) Annual rate of deposit turnover ........... . 20.5 -15 + 36 Retail sales Furniture and household PORT ARTHUR (pop. 82,150u) appliance stores - 29t - 11 -26 Retail sales ................................................ . - 24t - 34 - 1 Postal receipts• ........................................ $ 67,744 -28 + 4 Automotive stores ................................ . - 9t + + 14 Building permits, less federal contracts $ Bank debits (thousands) ........................ $ 1,425,518 78,559 -15 -24 •• Food stores .......... . Furniture and household - 12t - 9 - 9 End-of-month deposits (thousands ii.. $ 75,640 + 9 + 16 appliance stores ................................ . -29 t -42 + 11 Annual rate of deposit turnover ....... . 13.0 -10 General merchandise stores ............... . - 49t - 44 + Postal receipts* ........................................ $ 47,523 -50 + ORANGE (pop. 31,556r) Retail sales Apparel stores .................................... . Automotive stores .................................. Postal receipts• .......................................... $ Building permits, less federal contracts $ Bank debits (thousands ) ........................ $ -45t -9t 21.514 269,745 22,864 -41 -2 -35 + 43 9 + 6 -49 + 4 -37 + 2 Building permits, less federal contracts $ Bank debits (thousands) ........................ $ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover Employment (area ) ............................... . Manufacturing employment (area) .. P ercent unemployed (area.) ................. . 87 0,785 66,535 44 ,747 17.6 103,000 82,270 9.5 +337 8 2 9 3 + 14 + 156 3 3 + -14 End-of-month deposits (thousands ) t $ Annual rate of deposit turnover ........... . 21 ,083 12.9 2 7 + 1 RAYMONDVILLE (pop. 9,136) Employment (area ) ............................... . 108,000 3 - 1 Postal receipts• .......................................... $ 5,248 -40 + 5 Manufacturing employment (area) 32,270 1 - 1 Building permits, less federal contracts $ 6,362 -71 4 Percent unemployed (area) ............ . 9.5 + 14 -14 Bank debits (thousands ) ............$ 7,006 + 17 + 19 End-of-month deposits (thousan ds ii.. $ 8,466 - 4 + PALESTINE (pop. 15,063r) Annual rate of deposit turnover ............ 9. 7 + 21 Postal receipts• .......................................... $ Bank debits (thousands ) ........................ $ End-of-month deposits (thousands) t ....$ Annual rate of deposit turnover ........... . 11,780 9,611 14,705 7.8 -55 + 4 •• + + + 4 ROCKDALE (pop. 6,400r) Postal r eceipts• .......................................... $ Building p ermits, less federal contracts $ Bank debits (thousands ) ........................$ 3,600 120,199 3,646 -45 +5126 4 -2 +1402 + 2 PAMPA (pop. 26,720r) Retail sales ................................................. . End-of-month deposits (thousands) t.. $ Annual rate of deposit turnover ........... . 5,595 7.9 + 3 + 2 2 Automotive stores -------·-···-----·--··---·------­-Postal receipts• .......................................... $ Building permits, less federal contracts $ Bank debits (thousands ) ........................ $ End-of-month deposits (thousands)t $ Annual rate of deposit turnover ........... . -9t 21,842 177,800 23,901 23,914 11.6 + 25 -31 -26 -2 -7 •• -8 -5 -53 SAN ANGELO (pop. 62,359r) Retail sales ................................................. . J ewelry stores ....................................... . Postal receipts• ..........................................$ Building permits, less federal contracts $ Ban k debits (thousands ) ........................ $ -24t 60,289 534,138 52,905 -37 -72 -89 + 32 2 7 3 + 6 + 48 2 PARIS (pop. 24,551•) Retail sales .................................... . Apparel stores ....................................... . Automotive stores --··························---··· Lumber, building material, and --- 24t 45t 9t -37 -52 -25 -23 + 7 -31 End-of-months deposits (thousands ) t.. $ Annual rate of deposit turnover ........... . Employment (area) .............. . Manufacturing employment (area) ... . P ercent unemployed (area) ................. . 46,559 13.6 23,050 3,190 5.6 + 2 3 2 27 + 3 6 •• + 8 -18 hardware stores ...................... . Postal receipts• .......................................... $ Building permits, less federal contracts $ Bank debits (thousands) ........................ $ End-of-month deposits (thousands) t .. $ Annual rate of deposit turnover ........... . -13t 19,242 170,575 16,845 14,129 14.4 -40 -25 -57 6 + 2 8 -41 + 7 + 4 + 4 5 SAN MARCOS (pop. 14,300r) P ostal receipts• .......................................... $ Building permits, less federal contracts $ Bank debits (thousands ) ........................ $ End-of-month deposits (thousands) t....$ Annual rate of deposit turnover ........... . 8,635 7,185 6,389 8,504 9.0 -32 -97 4 l -14 -75 -14 -3 -13 PASADENA (pop. 58,92Sr) Postal receipts• .......................................... $ 31,332 -54 + SAN SABA (pop. 3,400) Building permits, less federal contracts $ 768,120 -27 -57 Bank debits (thousands ) ....................... $ 4,278 - 2 Employment (area ) ................................. . 488,000 - 2 + 5 End-of-month deposits (thousan ds ) t ....$ 4,407 -10 4 Manufacturing employment (area) .. 96,375 + 2 + 4 Annual rate of deposit turnover ........... . 11.0 + 3 1 Percent unemployed (area) ................... . 4.7 + 18 -20 PHARR (pop. 8,690) Postal receipts• .......................................... $ Building permits, less federal contracts S Bank debits (thousands ) ........................ $ End-of-month deposits (thousands ) t .. S Annual rate of deposit turnonr ........... . 5,679 89,484 4,650 4,851 12.8 -52 + + 14 6 + 12 -16 6 -8 SEGUIN (pop. 14,000") P ostal r eceipts• .........................................$ Building permits, less federal contracts $ Bank debits (thousands ) ........................$ End-of-month deposits (thousands) t ....$ Annual rate of depoe it turnover ......... . 11,212 46,050 9,616 14,153 8.1 -38 + 7 + + 18 -83 •• -10 + 11 For explanation of symbols, see page 23. MARCH 1960 Per cent Cha n ge P er cent Change City and item J a n 1960 J a n 1960 from Dec 1959 Jan 1960 from Jan 1959 City a n d item J a n 1960 J a n 1960 fro m Dec 1959 J an 1960 f rom J an 1969 SAN ANfONIO (pop. 555,000r) R etail sales .................................................. -21 t -14 - s TAYLOR (pop. 9,071 ) Retail sales Apparel stores ................................... ..... -42 t -40 3 Automotive stores ................................. . - 9t -25 -18 Automotive stores ................. ................ - St + SS -10 P ostal receipts• .......................................... $ 7,906 -35 + Drug stores ............................................ - 20t - 12 + s Buildin g perm its, less federal contracts $ 20,985 + Eating and drinking places ................ - 4t -l S -14 Bank debits (thousands) ........................ $ 8,5 69 + + Florists ................................................... . -54 - 1 E nd-of-mon t h deposits (thousands ) t ....$ 18,592 7 + F ood stores .................................... . - 9t - 6 -11 Annual rate of deposit turnover ........... . 7.3 + 11 Furniture and h ouseh old a pplian ce stor es ················-------­Gasoline a nd service stations ........... . -- 37t 5t - as -3 -lS TEMPLE (pop. 33,912r) General mercha ndise stor es ............... . - 46t - 54 - 2 Retail sales ......... ....................................... . - 24t - 41 Lumber , building material, and Apparel stores - 45t - 62 hardware stores ................................. . Postal receipts• .......................................... $ + at 61S,923 -20 -24 -18 •• Furniture a n d household appliance stores -29 t -55 -21 Build ing permits, less federal contracts$ 3,063 ,2 16 -43 -35 Lumber , bu ildin g m aterial, a n d Bank debits (thousands ) ........................$ 602,65S 7 + 3 h a rdware stores ................................. . - 13t - 25 + 6 End-of-month deposits (thousands )t.... $ 365,534 2 6 Postal receipts• ...... .................................. $ 30,547 -32 - 2 Annual rate of deposit tu rnover ........... . 19.6 6 + 9 Building p ermits, less federal contr acts $ 196,60S + 8 -13 Em ploymen t (area) ............................... . 203,900 1 + 3 B a nk debits (thousands ) ........................ $ 23,432 + + 2 Manufacturing employment (area ) .. 24,725 3 + 3 P ercent unemployed (area) ................... . 3.4 + - 13 TEXARKANA ( pop. 50,784r) SHERMAN (pop. 31,269r) Reta ii sa les ............................................ . -24"1 -26 + 2 Retail sales ................................................ . Apparel stores ................................. . -- 24t 45t -- 12 52 -- 9 7 Apparel stores ....................................... . Furniture and household - 45t - 54 + 1 Automotive stores ........ ------············-­F ur niture a nd h ousehold - 9t + 29 -15 applia nce stor es ................................ . Lu mber, bu ilding mater ia l, a nd hardwa re stores ................................. . -- 29t 13t -- 11 24 -11 -12 a ppliance stores . Postal receipts•§ ...................... ................. $ Building permits, less -29t 55,414 -21 -23 + P ostal r eceipts • .......................................$ Building permits, less federal con tracts$ Bank debits (thousa nds ) ........................ $ Encl-of-month deposits (thousa nds ) t .... $ Annual rate of deposit turnover ........... . 24 ,9S3 110,050 28,0SS 19,309 16.9 -36 -S2 + 6 + s -1 -6S 2 + fede ra l contracts§ ................. .$ Bank debits (thousands) .......... ..$ End-of-month deposits (thousands) t§ $ Annual rate of depos it tur nover ... E m p loyment (area) ................................ . Ma nufactu rin g em p loym ent (area) .. 75,921 48,55S 16,634 16.7 29,250 3,610 -+ 59 .. -82 + 4 -4 + 10 + I •• SLATON (pop. 6,35Ir) Percen t u nemployed (area) ................... . S.6 + 25 + Postal receipts• ..........................................$ Bu ildin g permits. less federal contracts$ Bank debits (thousands) ........................ $ S,lOS SS,974 5,090 -56 -30 + 19 -10 + 17S + s TEXAS CITY ( pop. 30,000r) Retail sales E nd-of-mont h deposits (thousan ds ) t .... $ Annual ra te of deposit turnover ......... . Employment (area) ................................. . Ma nufacturing employment (area) .. Percent unemployed (area ) ................. . 5,424 11.6 53,900 5,560 3.1 + 6 + 9 1 •• + 19 -8 + 16 + s + -30 Lumber, buildin g materia l, and h a r d ware stores .......... . Postal r eceipts• ....... . .......... $ Building permits , less federal contracts $ Bank debits (thousands) ........................ $ -13t 20,795 224,930 20,863 + 5 -31 -43 -7 -so + 10 -70 8 End-of-month deposits (thousa.nds) t ....$ 12,1S3 + 9 + SMITHVILLE (pop. 3,373r) P ostal r eceipts• ........................................ $ Building permits, less federal contracts $ 1,715 20,400 -49 Annual rate of deposit t urnover ....... .... . Employmen t (a rea) ................................ . Manufacturing em p loymen t (area) .. 21.4 51,200 11.000 -12 + 3 + 12 + + I Bank debits (thousands) ........................ $ l,2SO + 12 Percent unemployed (area) ................... . 6.2 + - 16 End-of-mont h depoeits (th ousan ds ) t ....$ 2.328 5 Ann ual rate of deposit turnover .......... . 6.5 7 + TYLER (pop. 56,725r) SNYDER (pop. 16,324r) Reta il sales Automotive stores ········---­--················-··· - 9t + 17 -26 P ostal r eceipts• .......................................$ 12,431 -45 -22 Postal r eceipts• .......................................... $ 79,007 -43 - 8 B uilding permits, less federal contracts$ SS2,211 + l OS4 + 732 Buildin g permits, less federal contr acts$ 362,540 + s -59 Bunk deb its (thousa nds) ........................ $ 17,266 -15 + 3 Bank debits (t housands ) ........................ $ S6,48S End-of-month depos its (thousa nds) t ....$ 19,685 + 34 - 4 End-of-month deposits ( t housands ) t .. $ 60,793 Annual rate of deposit turnover ......... . 12.0 -29 + 21 A n nual r a te of deposit t urnover 16.7 SULPHUR SPRINGS (pop. 9,890r) P oeta! receipts • ....................................... $ Bank debits ( t housands) ........................ $ End-of -month depoeits (thousands) t ....$ An nual r a te of deposit turnover ........... . 7,218 9,465 12,691 s.s -43 5 3 4 2 + s 6 VICTORIA ( pop. 44,188r) Retail sales ................................................. . Automotive stor es .................................. Food stores ............................................. . F urniture and household -24t -9t -12t -21 -18 -6 -11 -25.. SWEETWATER (pop. 16,283r) Building pe rmits, less federal contracts $ Bank debits (thousa nds) .......................... $ End-of-month deposits (thousands) t ....$ lOS,000 14,246 11,032 8 9 -8 + 12 -9 a pplia nce stores ................. . Lumber, buildin g material, an d h a rdwa r e stor es ........... . Postal r eceipts* .. ...................................... $ Building permits, less federal contracts $ -29t -lSt 29,SSO 292,6SO -42 -16 -29 + 241 -2 + 19 + 7 + 32 Annual rate of deposit turnover ........... . 14.S + + 18 F or expla n a tion of symbols, see page 23 . TEXAS BUSINESS REVIEW Percent Change Percent Change Jan 1960 Jan 1960 J an 1960 Jan 1960 J a n from from Jan from from City and item 1960 Dec 1959 Jan 1959 City and item 1960 Dec 1959 J a n 1959 VERNON (pop. 12,684r) Postal receipts• ........................................ $ Building permits, less federal contracts $ Bank debits (thousands) ........................ $ 10,603 147,395 14,029 -41 + 1103 -18 + 8 + 57 -6 WEATHERFORD (pop. ll,035r) Postal receipts• .......................................... $ 10,266 Building permits, less federal contracts $ 66,675 End-of-month deposits (thousands) t ....$ 15,928 -29 -16 + 7 -24 + 18 End-of-month deposits (thousands ) t.. Annual rate of depos it turnover _ $ 19,017 8.6 -- 6 17 -10 + 4 WESLACO (pop. 7,514) Postal r eceipts• ........................................ $ 8,338 -29 + Building permits, less federal contracts S 174,096 +228 + 189 WACO (pop. 101,824r) Bank debits ( thousands ) ........................ $ End-of-month deposits (thousands) t ....$ 9,575 5,009 + 66 -3 + 33 + 8 Retail sales ......... . - 24t - 30 6 Annual rate of deposit turnover 22.5 + 64 + 24 Apparel stores ....... . - 45t - 49 17 Automotive stores . Furniture and household appliance stores ...... . Lumber, building material, and hardware stores .. -·-···--·------------­Postal receipts• . . ............................... $ Building permits, Jess federal contracts $ Bank debits (thousands ) ........................$ End-of-month deposits (thousands ) t .. S Annua l rate of deposit turnoYer Employment (area ) ........................ . Manufacturing employment (area) .. Percent unemployed (a rea) ................. . -9t -29t -13t 132,844 1,586,577 110,183 68,008 19.0 47,700 9,840 6.0 + 3 9 -16 -42 + 123 4 5 3 + 1 + 40 12 + 29 + 22 + + 5 + 4 + 6 + 2 + -14 WICHITA FALLS (pop.103,152r) Retail sales ............ -24 t Automotive stores Furniture and household appliance stores ... Postal receipts• ..... -9t -29t . ................. $ 105,071 Building permits. less federal contracts $ 1,672,005 Bank debits (thousands) ............$ 126,842 End-of-month deposits (thousands) t ....$ 105,736 Annual rate of deposit turnover ............ 13.4 Employment (area ) ....................... 40,200 Manufactur ing employment (area) .. 3, 720 Percent unemployed (area) .................... 6.8 + 12 + 26 -19 -42 +140 -3 -12 -4 -3 •• + 39 + 1 + 6 -23 -25 + 37 + 6 4 + 7 + 1 + 4 + 21 Employment estimates have been adjusted to first quarter 1959 benchmarks. t Normal seasonal change from December to J an uary. •For the perior J anuary 9-February 5. Reported by the Bureau of Business and Economic Research, Universit y of H ouston, for H a rris County. t Money on deposit at the end of the month, but excludes deposits to the credit of banks. r Revised for use by the Texas Highway Department. u 1950 Urban ized Census. •• Change is less than one-half of one percent. § Figures a re for Texarkana, Texas (pop. 31,051) only. Bureau of Business Research Publications A Selected and Annotated Bibliography of THE PLANNED SUBURBAN SHOPPING CENTER (revised 1960) by Jack D. L. Holmes Assistant Professor of History, McNeese State College fifty cents MARCH 1960 BAROMETERS OF TEXAS BUSINESS Jan Dec Jan 1960 1959 1959 GENERAL BUSINESS ACTIVITY tTexas business activity, index ............................................................................................................................. . 219 223 210 Miscellaneous freight carloadings in SW District, index ............................................................................... . 82 76 79 Ordinary life insurance sales, index ................................................................................................................... . 387 457 404 Wholesale prices in U.S., unadjusted index .................................................................................................... . 119.2 118.9 119.5 Consumers' prices in U.S., unadjusted index ................................................................................................... . 125.4 125.5 123.8 Business failures (number) ............................................................................................................................... . 39 52 34 New paper advertising, index ............................................................................................................................ . 177.1 174.1 171.6 TRADE Total retail sales, index ...................................................................................................................................... . 209• 213r 222' Durable-goods stores ..................................................................................................................................... . 162. 146T 191' Nondurable-goods stores .......................................................................................... ................................... . 234• 248T 239r Ratio of credit sales to net sales in department and apparel stores ............................................................. . 66.2• 61.1• 64.lr Ratio of collections to outstandings in department and apparel stores ....................................................... . 31.0• 40.1 • 32.8' PRODUCTION Total industrial production, index ................... ................................................ ................................................. . in• 172 171 Total manufactures, index ................................................................................................... ................................ . 214• 211 201 Durable manufactures, index ..................................................................................................................... . 252• 246 234 Nondurable manufactures, index .......................................................... ..................................................... . 196. 195 186 Mineral production, index ........................................................................................................................... . 132. 134 142 Total electric power consumption, index ······························································-·········································· 383. 372r 349 Industrial electric power consumption, index ................................................................................................. . 394• 384r 357 Crnde oil production, index ............................................................................................................................... . us• U6r 125 Crude oil runs to stills, index ............................................................................................................................. . 148 145 147 Gasoline consumption, index ............................................................................................................................. . 172 190 Industrial production in U.S., index ................................................................................................................. . 169. 165r 152' Construction authorized, index ......................................................................................................................... . 186 246 239 Residential building ..................................................................................................................................... . 206 228 308 Nonresidential building ............................................................................................................................... . 160 278 167 Cement shipments, index ..................................................................................................................................... . 141 182 208 Cement production, index ................................................................................................................................... . 158 153 165 Cement consumption, index .............................................................................................................................. . 135 168 203 AGRICULTURE Price received by farmers, unadjusted index, 1909-14= 100 .... ................................................................... . 261 262 280 FINANCE Bank debit , index ............................................................................................................................................... . 261 265 251 Bank debits, U.S., index ..................................................................................................................................... . 228 236 220 Reporting member banks, Dallas Reserve District: §Loans (millions) ........................................................................................................................................... . $ 2,859 $ 2,943 $ 2,732 §Loans and investments (millions) ............................................................................................................. . $ 4,463 $ 4,613 $ 4,499 Adjusted demand deposits (millions) ....................................................................................................... . $ 2,647 $ 2,815 $ 2,797 Revenue receipts of the State Comptroller (thousands) ............................................................................... . $ 93,719 $102,044 $ 90,197 Federal Internal Revenue collections (thousands) ......................................................................................... . $219,972 $118,382 $237,741 LABOR 2,477.3. 2,534.5r 2,425.7'Tota~~~~a~~~~lf:;t~r~::~~:i~~~~~~oCth~~:~n«i"~)"·:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: :::::::::::::::::::::::::: 48s.s• 488.3r 478.9' Durable-goods employment (thousands) ................................................... . 232.7. 233.6r 228.0' Nondurable-goods employment (thousands) .............................................. :::::::::::::::::::::::::::::::::::::: 256.1 • 254.7T 250.9' Total nonagricultural labor force in 17 labor market areas (thousands) ................................................... . 2,192.4 2,170.9 2,070.8 Employment in 17 labor market areas (thousands) ............................................................................... . 2,017.5 2,018.9 1,898.3 Manufacturing employment in 17 labor market areas (thousands) ............................................ . 379.7 371.0 359.4 Total unemployment in 17 labor market areas (thousands) ............................ . 116.4 110.8 89.7 Percent of labor force unemployed in 17 labor market areas ..................... ::::::::::::::::::::::::::::::::::: 5.1 4.1 5.6 All figures are for Texas unless otherwise indicated. All indexes a re based on the average months for 1947-49 except where indicated. all are adjusted for seasonal variation, except annual indexes. ' ' Employment estimates h ave been adjusted to first Quarter 1959 benchmarks. • Preliminary. t Based on bank debits in 20 cities, adjusted for price level. § Exclusive of loans to banks af ter deduction of valuation reserves. r Revised. TEXAS BUSINESS REVIEW