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TEXAS BUSINESS REVIEW
TEXAS BUSINESS REVIEW
Published monthly by the
Bureau of Business Research,
College of Business Administration,
The University of Texas, Austin 12, Texas
Material contained in this publication is not copyrighted and
may be reproduced freely. Acknowledgment of source will be
appreciated.
E'ntered as second class matter on May 7, 1928, at the post
office at Austin, Texas, under the Act of August 24, 1912.
Subscription $1.00 per year
J. Anderson Fitzgerald-------- --___ _____--__Dean
STAFF OF THE BUREAU
OF BUSINESS RESEARCH
Robert W. French
Director
F. A. Buechel
Economic Analyst
Clara H. Lewis
Editorial Assistant
Business Re
J. Anderson Fitzgerald
(exk officio)
Bakng and Insurance
Robert W. French (ex officio)
Everett G. Smith
Marketing
Evelyn Balagia
Loraine Campbell
John R. Stockton
Statistician
Elmer H. Johnson
Industrial Geographer
Helen Woodcock
Secretary
;earch Council
John H. Frederick
Transportation and Industry
E. Karl McGinnis
Business Law and Real Estate
George W. Stocking
Economics
Assistants
Dorothy Jo Akridge
Doris Coffee I
Bettye Decatur
Nellie Dyer I
Alpha Elam I
Mrs. Ada Fenlaw I
Fay Ferrell I
Miary Grann I
Mrs. Theda Hardwick I
Iha May Taylor
Viarjorie Campbell
Bess Gunn
Kenneth Irwin
A.udrey Jackson
darjorie Kidd
Evalyn Limmer
NJora Dell Massey
Neal McDonald
Mary McLain
AWbert Scasta
Mleta Ann Scott
FIGURES FOR THE MONTH
COMPOSITE INDEX OF BUSINESS ACTIVITY (1930=100, adj. for
seasonal variation).................................................
TRADE
*Index of department store sales (1930=100, adj. for seasonal variation)_--------__-
Retail sales of 742 independent stores--- ___------- __-__________------
Ratio of credit sales to net sales in department and apparel stores-_---__-__
Ratio of collections to outstanding accounts in department and apparel stores-_-- -----
Postal receipts in 50 cities-- _____ __-_-_-_- __- __ ___- _._ _ __-_ ___
*Index of misc. carloadings in Southwestern Dist. (1930= 100, adj. for seasonal variation)_-
PRODUCTION
*lndex of manufacturing employment (1930=100)-_- ___-- __--_-____--__
*Index of manufacturing pay rolls (1930= 100)--__-- __-_-._______-___-
Crude petroleum production (daily average, in barrels)- __---.------- ______.._ ----
Building permits in 44 cities--_--___ -__---_--________-- -
*Index of electric power consumption (1930= 100, adj. for seasonal variation)_---_---
*Index of runs of crude oil to stills (1930=100, adj. for seasonal variation)- --_--_
Manufacture of dairy products (1000 lbs. milk equivalent)-__ _- _ _- _ _.--
AGRICULTURE
Index of agricultural income (1935-39=100, adj. for seasonal variation)__-_ _..-
Shipments of livestock (carloads)______----___-_---..__--___-_-_--
FINANCE
Domestic corporation charters issued (number)___- ____- ____-__--____-
Business failures (Dun and Bradstreet, number)---------- __--- ________---
*Included in the composite index of business activity.
January
1946
166.1
249.2
$18,834,495
40.2%
65.6%
$2,685,138
99.8
97.6
160.9
2,036,850
$26,248,692
273.5
310.8
78,110
224.3
6,219
172
1
1945 1945
162.7 220.6
221.6
$28,849,121
38.9%
68.0%
$3,460,141
95.7
101.7
169.4
1,920,650
$38,687,102
265.1
276.5
51,340
234.1
7,913
131
1 ~
223.1
$16,512,367
39.7%
66.3%
$2,858,892
141.1
147.7
285.4
2,127,750
$3,325,652
311.8
300.7
57,308
385.5
7,324
24
S 1
U
2
TABLE OF CONTENTS
PAGE
Crude Petroleum Production----__----- Cover
Figures for the Month-----___ ------- 2
The Business Situation in Texas-----------3
Trade
Retail Trade----__ -------- - 5
Wholesale Trade---------------7
Production
Manufacturing-- - - - - - 7
Construction-- -- - -- -
Public Utilities----------8
Natural Resources---------------9
Agriculture
Income----__ ----------_-----9
Prices - ---___- - - - 10
Marketings - ..-__---10
Livestock Inventories-------------11
Planning for Cotton in 1946------ - 11
Finance
Charters----------- ---- ---12
Failures------------------1
Credits andCollections-- - - - 12
Labor
Employment -___- 12
Pay Rolls-_-__--_-------------14
Indexes for Business Activity in Texas--------15
ANNOUNCEMENT
THE DIRECTORY OF TEXAS MANUFACTURERS
1946 EDITION
The new Directory of Texas Mosutfacturers containing a com-
plete list of all manufacturing firms in Texas, indexed by cities
and by products, will be ready about April, 1946. This will be
the first edition published by the Bureau of Business Research
since 1941. Orders are now being received to be invoiced when
the directories are shipped. The price is $2.50 per copy postpaid.
Since only a limited number of copies will be printed, the Bureau
will appreciate receiving orders for the Directory as early as
possible.