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Texas and The Southwest BOOK OF FACTS AN ARGUM ENT FOR THE LOCATION OF A Federal R eserve B ank at B alias Reproduced from the Unclassified / Declassified Holdings of the National Archives n tr J tx m lo fr F o ^ REASONS FOR LOG/ TING REGIONAL RESERVE BANX IN T iiXAii T .KHITCHY The Reserve Bank Organization Committee, iVashinrton, D.C. Gentlemen: This "Book o f Reasons” is a supplement to the P allas JIBock o f Pacts1’ submitted at your meeting in Austin, Texae. Its aim is to point out the sig n ifica n ce of some o f the fa cts sub mitted at thet hearing by the Texas C itie s and to present reasons supported by those fa c ts why Texas is e n title d as o f r i t ht to have a regional bank. X. THE HUMBER CP The fa c t that the minimum number o f banks was fixed B A R S TC BE FOHIIEP. at eight was a v icto ry fo r tho decen tra lization idea. The winnlnr argument was conceptions. based as much upon p o l i t i c a l as economic The soundness o f the economic theory is debatable, but the correctness o f the p o l i t i c a l theory is in co n tro v e rtib le . At a ll events, the fa c ts that at le a s t eight banks are mandatory, that a margin fo r discretion ary increase up to f i f t y per cent is provided, and that re g io n a lity i s an essen t ia l feature o f the law, show cle a rly that Congress intended (su bject to the lim ita tion s in the law i t s e l f ) to put a bank in eacb r °rion where there is business enough and funds chough to support i t , and where to refuse it would leave d is t r ic t s so large as to be contrary to the re g io n a lity th eory. or productive of such discontent and f r ic t io n as to imp ir the success o f the system. / / These considerations ju s tify at lea. t ten banks l o - — ' Reproduced from the Unclassified / Declassified Holdings of the National Archives - c&ted as fo llo w s; 2- Massachusetts, Hew York, iennsylvania, leor- Ohio, I l l i n o i s , M issouri, Texas, Minnesota and C a lifo rn ia . I f two o f th is group he eliminated so as a rb itra rily to reduce the number to e irh t, those eliminated should he Ohio, which can so readily be attached in fr a c tio n s , on as an e n tire ty , to i t s f surrounding d i s t r i c t s , and Minnesota which belongs lo g ic a lly to Chicago* The circumstances requiring the above grouping are that In each o f these areas e x istin g fin a n cia l find commercial connections are found which /»ould be le s s disturbed by such grouping than to any other re la tio n sh ip , and at the same time dii t r ic t s neither too large nor too small would be created. In each o f these areas there happens to be a c ity which is already i t s fin a n cia l and commercial cen ter, Given a certain d is t r ic t the se le c tio n o f a certain c ity is in e v ita b le. The d is t r i c t i t s e l f has already pcinte trade which flow into i t . It out by currents o f The c i t i e s referred to are Boston, Kew York, 1 h iladelp h ia, Atlanta, Cleveland, Chicago, lit. Louis, D allas, Minneapolis and San Francisco, To lo c r te the minimum numbor o f banks now with an eye to the future increase is unwise because such a process in volves a further disturbance in the future. It is lik e breakinr a leg twice in the same p la ce . It is to be hoped that the country w ill be bo d is tr ic t e d now that the only changes nee ed in the future w ill bo along the borders o f lo ic a l and region ally located d i s t r i c t s . In such a border zone lin e s must o f n ecessity bo somewhat a rb itra ry , and i t may be fou id necessary at times to readjust them. rReproduced from the Unclassified / Declassified Holdings of the National Archives II. BBAHCH BAKXS. An I l l o g i c a l contention has been made in some c i t i e s that the number o f regional banks should be lew and the number o f branches correspondingly high. Ehe assumption is made that a branch bank w ill have a ll o f the fun ction s and usefulness o f a regional bank. It is urged that a branch bank at a p a rticu la r point w ill be ju st as useful to the subdivision o f the di: t r i c t which is related to the branch bank as the re gional bank would be. As stuted, such a contention is i l l o g i c a l : 1. I f co r re c t, there should be one central bank tit Hew York or Washington and a ll other banks should be branches. I f a branch bank is as good fo r Dallas or Philadelphia as a region 1 bank, why is i t not as •ood fo r Hew York, Chicago or San Francisco? It a r b itr a r ily bu ilds up remote c i t i e s at the expense ' o f the l o c a l i t i e s which produce wealth and which should be per mitted to keep i t and use i t fo r th e ir o n development. Business o f member banks with branches w ill be more sub ect to delays, uninformed consideration and administrative red-tape than business done with the regional bank i t s e l f . 4. It s t ir s up a s p ir it o f i l l w ill to the system i t s e lf by forcin g support to the governmental p r o je ct along un natural lin e s . It is inconceivable that a branch bank should hive a ll the powers o f a region al bank i t s e l f . Ho system providing fo r br nch banks has ever been so orraniaed. I f e«<;cb branch and also the regional bank had co-equal con trol over the common funds, the common p o lic y , the common operations and the common ere: i t , t e end would be easy to imagine. It i s indispensable '-------------------------------------------------------------------------------------------------------------------------------------------------------- — — Reproduced from the Unclassified / Declassified Holdings of the National Archives -4 that the pareiit tank sh all have con trol over a ll o f these opera tion s and th is o f n ecessity requires a du plication o f time and attention to every important p r o je c t, 5. Regional Independence which, in spite o f the old banking system, has rtrugrled so long and hard fo r expression and is at la s t finding i t , w ill he lo s t permanently or inde f in it e ly postponed notwithstanding the Dc o cra tic theory o f governmental that l o c a l i t i e s should he lo c a lly governed and encouraged to develop lo c a lly s e lf-r e lia n c e and independence* To tie Texas to Kansas C ity, St* Louis or Raw Orleans, no one o f which now draws the fourth part o f her foreig n trade, to s tr ip her o f fin a n cia l and in time commer c ia l independence, would be an economic as well as a p o l i t ic a l crimo, and Texas sees clea rly that such a resu lt w ill in evitably f o l i o ? such action* The greatest d if fic u lt y o f adm inistration in the new syi tern is going to be the supervision and con trol by the parent bank o f i t s branches* The surest method o f minimizing th is dang er is to have as many region al banks as the country needs and as few branches as p o s s ib le . I ll# HY SHOULD TJ5XAS 1. It is a region in every sense, express and HAYS A RECrIOIIAL BARK. im plied, in which that word Is used under,the law. Including the r e la tiv e ly small te r r ito r y outside o f Texas, which has fo r it s convenience been put with Texas and which can with most advantage to i t be best served from a Texas bank, the re gion contains or produces approximately: One-sixth o f the area o f the U ited St tes (such area i s large enough fo r a d i s t r i c t , while i f added to the other ~w Reproduced from the Unclassified / Declassified Holdings of the National Archives -5 te r r ito r y claimed by 5 t. Louis, the enlarged d is t r ic t would em brace approximately one-third o f the to ta l area o f the baited S ta te s )* One-twelfth o f the population o f the United states (the increase during the la s t decade being 3951*)# One-eighth o f the national banks o f the United states* One-tenth o f the State banks o f the United states (the number o f to ta l banks increased in the la s t fourteen years 45 4 $ ) . One-seventh o f the to ta l farm production o f the Unitod States ($1,000,128,597). T w o-fifth s o f cotton production o f the United States ( £ 81 ,1 32 ,4 00 ). Four-ninths o f to ta l cotton seed production o f the Unit d States ( '’04785550). One-tenth o f liv e stock production ($205,224,132). Ona-hulf o f cotton exports ($253,020,0(0). One-cif hth o f the to ta l exports o f the United S tates. .i’ith the exce pt ion o f some te r r ito r y in the extreme western and southern portion s o f the d is t r ic t and a small area in Southwestern Louisiana, everypoint in the di t r e t i s /ith - in twelve hours mail service o f D allas, and those remote por tion s o f the te r r ito r y are within clo se r mail service to Texaa c i t i e s than any other c ity *’hich has been under consideration as a lo ca tio n fo r a region al bank. 2. It would ca p ita lis e a bank more than f i f t y per cent above the law’ s requirements ($6,421,949) even i f no ~t te b.nk came in , and with the deposits o f reserves which the law re qu ires, i t s resources would enable i t to meet a ll legitim ate demands in ordinary times ~w Reproduced from the Unclassified / Declassified Holdings of the National Archives -6 For eight months in every year a regional bank in th is d is t r ic t would have money to loan; fo r twelve months in an ordinary year i t could take care o f i t s own member banks and have money l e f t . During tfan exceptional year (1913) just past i t could at the peak o f i t s advances to member banks have financed its e lf. I f , however, under extraordinary stress i t should need to rediscount the receiva b les o f member banks to a small extent with other regional banks, or to issue emergency currency, i t would simply be making use o f these features o f e la s t ic it y which b ve been advertised as among the ch ie f e x ce lle n cie s o f the new banking law. I f the Texas regional bank should be a lender bank ei ht months out o f every year and twelve months out o f an c r it din; ry year, why should not evory four months during an occas sional extraordinary year be a borrower or note issuing bank? Its condition -ould be no bettered by being put with Kansas C ity, St. Louis or Hew Orleans, fo r i t appears from a stu y o f the bank reports o f October 2 1 , 1913 o f the te r rito r y that is included in the S t. Louis claim s, that takingbanks as a whole over that area a ll individual deposits were at low obb and banks in both St. Louis and Kansas City were borrow ing money just as the banks in the Texas d is t r ic t were doing. St.Louis and The unassailable fa c t i s — and Kansas City //i l l not A i dispute i t — that when Texas needs money to move i t s crops, it s banks cannot borrow money in any considerable q u a n tities, in eith er St. Louis or Kansas City and must go to Chicago or to the A tlan tic Seaboard. Balances are kept in St* Louis no//, not in order to secure loans there in time o f need, nor because trade sets that way, but in older to secure exchange f a c i l i t i e s and provide meant fo r making c o lle c tio n s at par r ------------- j---------------Reproduced from the Unclassified / Declassified Holdings of the National Archives -7 The rediscounts and t i l l s payable in the d is t r ic t Texas has defined ;ere $22,000,000 at the peak o f the beuviest demand o f 1912* How much du plication or pyramiding was in th is sum i t is not easy to say, but && shown at page 9 o f the Dallas "Book o f F a cts", more than t h r e e -fifth s o f the amount could have been absorbed by the reduction in the percentages o f re serve v?hich are provide; fo r under the new law. The nation; 1 banls in the te r rito ry would have had $15,000,000 more o f lom iable funds at that time i f the present law had then been in fo r c e , leaving only 0o,GGC,OGC to be taken care o f by the re ional bank. Its available funds fo r t urpose ’would have been far in excess o f these demands. I f the new law i s simply going to provide new machinery (perhaps more complex than the old) fo r doing what is already be in * w ell done under the existin g banking system, it s importance and e ffic ie n c y has been vastly exaggerated. do not b elieve i t is so lim ited in fu n ction . We .<e think i t was intended to provide e la s t ic it y and a means fo r equalising sea sonal in e q u a litie s ; to re lie v e strain where strain has been gre<;t under the old system. It i s , however, going to be a handicap instead o f an advantage i f i t s e ffe c t w ill be nor mally to r e s t r ic t Texas brinks or banks in any other single d is t r ic t to th eir region al bank and a ffe c t th eir open market connections. I f i t is d n g to be thought a crime, Or even bad banking, fo r one regional bank to use the surplus funds o f another at one season, and to render the same service to another bonk t another season, the law w ill prove to be ab surdly inadequate. Moreover, why should i t be thou ht Inevitable tb it the member banks w ill deal only with the regional bank when r Reproduced from the Unclassified / Declassified Holdings of the National Archives -8 wanting to borrow money? $© one doubts that banks which now have resources beyond th eir lo c a l needs w ill continue to lend that money to other banks to meet seasonable requirements. I f the new lew ie to create in the government a monopoly o f the business o f loaning money to national banks to meet th eir sea sonable requirements, i t has not been so advertised. Member banks w ill o f course maintain th eir le g a l reserve fith the re gional banks, but they w ill deposit as in the past surplus fu ds with other tanks, receiving in te re st on daily balances and havinr constant transactions in the borrowing and loaning o f money as h eretofore. 3. The v i r i l i t y o f the southwest i f encouraged and furnished an opportunity fo r independent e x e rcis e , w ill do a constructive work in th. t rapidly growing se ctio n which w ill b en efit the en tire nation. I f repressed i t s work i l l be sm aller, le s s v ita l and le s s p ro fita b le to the nation. The attitu de o f Texas on the matter o f i t s being made an appendage o f St. Louis or any o f the other c i t i e s named, may be ca lle d a sentinental one, but such a c r itic is m does not meet our contention. The geographical ou tlin es o f Texas, her p o lit i c a l h isto ry , the surpassin lo y a lty o f her citiz e n s and th e ir abounding p atriotism ; her astou (ding development and eventual destiny and place in the national l i f e have b u ilt i up a re lia n t independence that w ill be p ecu lia rly offended, i f a fte r i t has supported i t s claims as strongly as i t has, i t should be bound in a subordinate rela tion sh ip to another com munity bavin, le s s banking c a p ita l, le a s commercial resources, le s s present and future prospects than i t has. S o-ca lled sentiment has played a great part in the material as e l l as in the moral aspects o f our c i v i l i z a - r Reproduced from the Unclassified / Declassified Holdings of the National Archives 9 tio n : I t launched the Crusades, i t organised the Reforma tio n , i t colonized America, i t four-fat the R evolution, i t made Texas a Republic and afterwards brought i t into the Union; i t i3 today making i t the most unique St*te in the Union, and one whose probable future staggers the imagination. 4. Texas i s not tributary to any o f the three c i t i e s named, but i s s e lf -s u ff ic ie n t and independent o f them. We might lay New Orleans out o f the case, fo r there is no flow o f business o f moment to i t . Kansas City before the day o f the development o f the implement business in Dallas and the grain and packing business in Port „orth , had some business with Texas. This i s now n e g lig ib le . The business connections o f twenty and even ten years ago with St. Louis are no long er in existen ce. In i t s stead there is# business in certain lin e s lik e shoes, beer and hardware. The Texas c i t i e s have become markets fo r the Texas r e t a ile r and consumer. The whole saler in Texas buys from the same fa c to r ie s the St. Louis wholesalers buy from and in some lin o s in much larger quanti t ie s . The banking: connection is small and would be le s s , but fo r the a r t i f i c i a l requirements o f the old banking law, which gave 3 t. Louis an unnatural advantage over Texas C itie s , against which unnatural, advantage wo now so earnestly protes *7. Freight into Texas comes by the Gulf Seaboard and can reach as fa r north as Middle Oklahoma on lo c a l reshipmehts on a competitive b asis with St. Louis. Dallas alone has a wholesale business with the proposed d is t r ic t o f $211,000,000, to say by other Texas c i t i e s . nothing o f the enormous aggregate done Dallas business alone during the la s t three years has grown at the rate o f nearly 20% annually Reproduced from the Unclassified / Declassified Holdings of the National Archives '*9* — . -- . -10I t is not surprising that St. Louis is asking: th is Committee to allow i t to retain i t s a r t i f i c i a l advantage over Texas, hut i t w ill he supremely disappointing to Texas i f th is Committee hea s the request. The claim o f Ct. Louis to an important and v it a l rela tion sh ip with the welfare o f the southwest ./i l l not stand the acid t e s t . 5. T he distance to Texas from a regional hank lo c t e d in eith er o f the c i t i e s named would greatly diminish the value o f the system to Texas. >«e need pay no attention to New Orleans or Kansas City in th is connection, hut w ill confine ourselves to 5 t. L ouis; that c it y i s twenty four hours distant from the average north Texas p oin ts, t h ir t y -s ix hours diet; nt from the average south Te as p o in ts, and fo r ty eight hours distant from the extreme western and southern Texas. A hanker in Houston would need fallowing one business day in i} t . Louis) four nights and three days to gc to a re gional hank in St* Louis to discuss a matter o f business ith i t , in case the need fo r discu ssion a rises as might readily he the case upon his rediscount o ffe r in g s . he at le: et His expenses would 75.00; he would travel over two thousand m iles. Ills case would not he an extreme one. He la 250 miles nearer 3 t. Louis than a Brownsville banker w ill ho, end about the same distance many other important Texas points i r e . H© would travel more than a hanker going from St. Louis to Boston or from Hew York to Jacksonville or from Chicago to D allas. Such remoteness would in evitably resu lt in ignorance on the part c f the d ire cto rs o f the regional bank o f lo c a l con d ition s. In consequence cre d its ould not ho so in te llig e n tly considered and delays end f r i c t i o n would cer tainly r e s u lt . Even i f Texas bad a d ire cto r on the hoard o f Reproduced from the Unclassified / Declassified Holdings of the National Archives - 11- tho region al bank, he would ho hut one man against many. IV. TERRITORY IN 1. A ll o f Texas is demanding tin t a bank be placed TEXAS DIS TRICT. in Texas except that at El PaeOj "th is desire lo sub ordinated. to a wish that El Paso be kept with New Mexico and Arizona; that is witftlrade te r r ito r y in no s e tte r /hat d is t r i c t that te r r ito r y be placed. In any case Eb Paso wants a branch bank, and with that arranrcment New Mexico and Arizona are content. With a branch bank at El Paso New Mexi co and Arizona can be as. well served as t?:eir remote situ a tion and scattered inhabitancy w ill permit under the terms c f the law. In the absence o f a bank at Denver, a branch banfc at El Paso oulc be mere le x ic a lly added to the region al bank in Texas than elsewhere, and should Denver be hereafter riven a bank, the El Paso Branch could be bodily transferred to that bank without any other disturbance and without ir ir in r the a b ility o f the remaining Texas dis t r i c t to ca p ita lis e arid support a bank. Texas trade re la tion e /ith the : ecus Valley in New Mexico are resp ectab le, El Paso only, among Texas c i t i e s , however, has close rela tion s with the remainder o f New Mexico and her rela tion sh ip to New Mexico and Arizona ju s tify the in clu sion o f that ter r ito r y in the El Paso branch. It ie to be noted, however, that Texas did not include Arizona in her proposed d is t r ic t and that i t can dispense i f necessary with El Paso and New Mexico. 2. The physical situ a tion o f New Mexico baa been explained; i f i t and Arizona ^ m t to fo into the branch bank d is t r ic t o f El la so and that c ity can fa ir ly serve them T Reproduced from the Unclassified / Declassified Holdings of the National Archives —1 8 — they appear to be quite content to become part of,an y d is t r ic t to /hioh El Paso may be attached. Ho violence therefore w ill to done, eith er to th eir wishes or th o ir trade connec tio n s , by incluuin 3. them in too Texas d i s t r i c t . I f a regional bank were put in Bew Orleans, the portion o f Louisiana which Texas claims would prefer to go into the Bew Orleans d is t r ic t * Hew Orleans and Without a regional bank in ith one at D allas, certa in ly a ll o f north Louisiana and perhaps more o f it s area, as bank over the Atlanta or S t. Louis. ould p refer the Tex It already trades la rg e ly in Texas; that trade is in creasi g and has proved that Texas poin ts could serve 4. that p ortion o f the d i s t r i c t . Under established conditions Southwestern Arkan sas s e l l s I ts cotton , i t s vegetables, i t s f r u i t , la rg ely in Texas. Perhaps more o f i t s general business is done in a t. Louis; i t would <oubtlesa p refer Ot. Louis. However, i t 5s clo se r to Texas than to S t. Louis; i t could be better served from Texas; no violence to i t s business would be done by putting th is southwestern area with the Texas D is t r ic t . 5. every way. Southern Oklahoma le id e n tifie d with Texas in i Texas people se ttle d i t up; Texas buys i t s co t ton ; her c a ttle grazes i t s ranges; Texas buys it s stock ; i t s gas, i t s o i l and i t s Umber, northern Oklahoma is divided, a part preferrin g Kansas C ity, a part p referrin g Lt. Louis. Texas it clo se r to i t , however, in every way and can serve it b etter than any other Utate. Bo doubt there are many people in Louisiana, southwestern Arkansas and Oklahoma who -ould p refer not to bo put in the d is t r ic t .ith Texas c i t i e s . however, /ho favor the Texas d i s t r i c t . There ere many, &ome violen ce must Reproduced from the Unclassified / Declassified Holdings of the National Archives -I S ke one, fo r m anifestly th is Committee cannot please these holding such opposing views. The nearest p ossible r e c o n c il- ment— i f the endeavor is to bo made to please everybody—would be to put southern Oklahoma with the Texas d is t r ic t iind north ern Oklahoma with the .St. Louis d i s t r i c t , assuming o f course that no bank is to be put at Kansas City. It is certa in ly true that le s s violen ce ./i l l be done the wishes o f the communities mentioned by sxich an alignment than would be done to a ll o f Texas i f the St. Louis plan is follow ed by th is Committee. Texas does not want to be made a part o f the 3 t. Louis d i s t r i c t . I f i t is made a part o f that d is t r ic t i t w ill be done over i t s p rotest and against i t s '. / i l l . i f 8t • Louis can seriously propose to take Texas by fo r c e , although Texas is la rg e r, ric h e r , more prosperous, has more banking ca p ita l, produces more, Texas ought not to be c r it ic is e d fo r asking that I ts te r r ito r y include areas,whose inhabitants are divided in opinion. n ecessa rily an the boundaries o f d is t r ic t s are od near debatable te r r ito r y is reached; d iffe re n ce s o f opinion S 3 in such te r rito ry are in e v ita b le . Texas can, however, stand alone in her a p p lica tion fo r a regional bank; strip o f f a l l the outside te r rito ry and Texas can s t i l l stand fo r i t s e l f and show it s t i t l e to a bank. 7# THJ AKGUM1IJT CP ,/hen a d i s t r i c t can abundantly q u a lify now. i t s FUTUB i CPXv/TH. f probable future should be considered by th is Committee as reason fo r or against ivin g i t a bank. W it h a population increase in the la s t census decade o f 39$, a cu ltivated area increase o f 46.5$; production o f f ; nn crops increase 88.9$, T Reproduced from the Unclassified / Declassified Holdings of the Nationat Archives - 14 - and In the la s t fourteen years an Increase in the number o f banks of 454$, and an increase in th eir ca p ita l and surplus o f 510,5, there e x ists no ju s t ific a t io n fo r ignoring th is feature o f her appeal to th is Committee. VI. POLITICAL The matter o f lo ca tin '- regional banks is not prim arily COH5 IDSRAtio n s . nor oven p rin cip a lly a p o l i t i c a l question. Every Govern mental fa c u lty , however, has a p o lit ic a l element and every governmental agency a p o l i t i c a l phase• No system o f banking w ill Ion- succeed which decs violence to the vishes o f a great fra ctio n o f the people o f th is country. Such p o l i t i c a l con siderations as a ffe c t th is feature o f the problem are there fore o f a.r en tirely proper character fo r consideration by th is Committee. its e lf9 They enter into the consideration o f the B ill The diverse contentions o f people o f varyin opin ions et cm then i t in rone re sp e cts, weaken i t in oth ers, hut vp* arc allowed c f n ecessity to a ffe c t the situ a tion because in th is country the people; rke the lr .5or which they l i v e . I t Ife rarely p ossib le to attain the ideal in any ierni si at ion that at raefs during i t s consideration foes as well as frie n d s. The reason fo r th is <b that le g is la to r s must take into consideration the wishes o f their con stitu en ts. The Currency B ill when under consideration attracted to it s support those who believed that the present administra tion would I c e ;t e the banks re g io n a lly . who thou ht that the old order was passin place was conin a new order. In other /ord s, those and that in i t s Those communities already b<r- r ic ded behind the money furnished by the rest o f the country wanted no such b i l l These other communities who Reproduced from the Unclassified / Declassified Holdings of the National Archives -1 5 fo r f i f t y years had suffered under a law which fo rce 1 than to furnish to renote c i t i e s the f i r s t f r u it s o f th e ir in crease, wore fo r i t hocause in i t they hoped to find r e l i e f . Texas has he on to the for© in th is movement fo r the new freedom. It e n liste d early &nd en listed fo r the var; i t asks no undue consideration in th is matter on that account. I t dc c not bo cheaply state i t s reasons fo r adherence to the pro at cause. It does f e e l , however, that these things fiv e i t stand ing to protest against a new in ju s tice being done to i t . It claims the b en efit o f any doubt. I ot* Louie o f a hank. t f One ought to he put in at * Louis, hut To as claims the same Independence fo r i t s e l f * A fter f i f t y years o f trib u te she asks fo r freedom; she can stand alon e. She can make her banks mooted* thorn cm he no such thing as a Inrae bank under th is system i f the law is applied accord ing to i t s in ten t. The rediscounting power, the note issuing power, the confidence the people w ill have in the nor eyftorn / i l l standardise a l l the vai ts* Texas claims her oarx *n*oial indopoudonce as o f r ir h t and n ker^exaim to an adm inistration p e cu lia rly >lecr;ed to a governmental p o lic y o f lib e r a t io n . DALLAS CLSARIHG HOD SB ASSOCIATION Dallas c u ' m m ot c o m .m cT i DALLAS COTTON IXCHAHC.T By ( SPECIAL CCmiTTKE ( ( ( f f J C lffl h* WT.I 'HT,Banker,Chairman j . Howard Ardrey.Banker -’ *H .Lolfe, Cotton Broker Stgar 1. Fliprog, nvfaoturo .Louis L ip s its , nbolesaler . .I'rt; on >/bbleaaler . la k e r, cy Reproduced from the Unclassified / Declassified Holdings of the National Archives S T E N O G R A P H IC AND T Y P E W R IT IN G T H E W A L D O R F 'A S T O R IA N EW Y O R K DEPARTM EN T TO TH E RESERVE BANK O R G A N IZ A T IO N C O M M IT T E E G e n tle m e n : W e a re p le a s e d t o p r e s e n t y o u h e r e w it h , fa c t s in r e g a r d t o D a lla s a n d t h e ^ re a t S o u t h w e s t , i n d i c a t i n g t h e n e e d f o r a F e d e r a l R e s e rv e B a n k h e r e . O u r a r g u m e n t is p a r t i c u l a r l y d e v e lo p e d f o r t h e C it y o f D a lla s ; t h e la r g e s t c it y w est o f th e M is s is s ip p i R iv e r a n d sou th o f th e M is s o u r i, w it h u n e x c e lle d r a ilr o a d fa c i l i t i e s a n d m a il s e r v ic e ; t h e t e le g r a p h , t e l e p h o n e a n d e x p re s s d e v e l o p m e n t r a n k in g w it h t h e s e v e n la r g e s t c it ie s in t h e U n it e d S t a t e s . W e p r e s e n t f o r y o u r d is t in g u is h e d c o n s i d e r a t i o n a c i t y n o w t h e a c k n o w le d g e d m a r k e t o f t h e S o u t h w e s t , t h e d i s t r i b u t i n g a n d fin a n c ia l c e n t e r o f t h is m o s t p r o g r e s s iv e a n d r a p id ly d e v e lo p in g s e c t i o n o f th e U n it e d S ta te s . T h e t e r r it o r y t r i b u t a r y t o t h is c i t y a n d t o b e m o s t l o g i c a l ly s e rv e d f r o m D a lla s is a ll o f T e x a s , a ll o f O k la h o m a , a ll o f N ew M e x ic o , t h a t p a r t o f L o u is ia n a (8 6 % ) w e s t o f th e M is s is s ip p i R iv e r , and th a t p a rt o f A rk an sas (4 5 % ) s o u t h and w est o f th e A r k a n s a s R iv e r ; a t e r r it o r y t h a t w ill p r o v id e a m p le c a p i t a l a n d d e p o s it s in a F e d e r a l R e s e r v e B a n k e s t a b lis h e d h e r e ; c a r e f o r t h e n e e d s o f t h e t e r r i t o r y ; a c c o m p l i s h th e e n d s s o u g h t in t h e F e d e r a l R e s e rv e A c t a n d m a k e p o s s ib le t h e s o l u t i o n o f t h e fin a n c ia l p r o b l e m s o f t h is s e c t i o n . W e p r e s e n t o u r a r g u m e n t in t h e s in c e r e d e s ir e t o c o - o p e r a t e f o r t h e s u c c e s s o f t h e la w w h e r e v e r R e g io n a l B a n k s m a y b e p la c e d . W e r e s p e c tfu lly r e q u e s t c o n s id e r a t io n a n d a re p le a s e d t o h a v e t h is o p p o r t u n i t y o f p r e s e n t in g o u r v ie w s. R e s p e c tfu lly y o u rs, DALLAS CHAM BER OF COMM ERGE, B y C. W . H o b s o n , P r e s id e n t . DALLAS C L E A R IN G HOUSE A S S O C IA T IO N , B y R . H . S te w a r t , P r e s id e n t . DALLAS COTTON EXCHANGE, B y S. W . K in ^ , J r ., P r e s id e n t . S9AIl|ojv |euoi}6N 01)} jo s6ujp|oy peiJissepaQ / psjjissepun ai|i luoj} paonpojday Reproduced from the Unclassified / Declassified Holdings of the National Archives O jb tLows Orleans D/seance & U. A M a /l s e r v ic e FROM DALLAS Natural Boundaries. S o u th a n d W est S o u t h a n d E a st N o r t h a n d E a st N orth - M e x ic o a n d th e G u lf. M is s is s ip p i R iv e r . A r k a n s a s R iv e r . S ta te L in e o f O k la h o m a a n d N ew M e x ic o . T h is d is tr ic t is set a p a rt a n d d e sig n a te d b y th e R a ilro a d s a n d a p p rov ed b y th e In te r s ta te C o m m e r c e C o m m is s io n as th e S o u th w e ste r n T ra ffic C o m m it t e e T e rrito r y . THE GEOGRAPHY OF THE TERRITORY. T h e U. S. C e n s u s D e p a r t m e n t h a s a lw a y s c la s s ifie d T e x a s , O k la h o m a , A r k a n s a s a n d L o u is ia n a as t h e W e s t S o u t h G e n tr a l G e o g r a p h ic D iv is io n . T h is is o n e o f t h e n in e s u b d iv is io n s m a d e o n a c c o u n t o f th e c o r r e l a t i o n o f it s in d u s t r ie s , t h e h o m o ^ e n i t y o f its p e o p le , t h e i n t e r d e p e n d e n c e o f it s i n s t i t u t i o n s . S e t o ff b y n a t u r a l b o u n d a r ie s , i t s lo p e s f r o m th e m o u n t a i n s o f N ew M e x ic o e a s tw a r d 1152 m ile s t o t h e M is s is s ip p i. F r o m B r o w n s v ille o n t h e R io G r a n d e 871 m ile s n o r t h t o t h e K a n s a s lin e . U. S. Government Census has Bounded and Designated the Territory. Its A la b a m a , White Population Greater than Balance Whole South. T h e U. S. G o v e r n m e n t r e p o r t s o f 1910 s h o w in g its t o t a l w e a lt h t o b e 3 7 % g r e a te r t h a n th e c o m b i n e d w e a lt h o f t h e s e five o ld a n d d e v e lo p e d S ta te s . Wealth Greater than Balance Whole South. S h o w in g d iv e r s ity o f p r o d u c t i o n a n d i f a b a la n c e d t e r r it o r y is d e s ir e d , n o t e t h a t t o t a l a n n u a l p r o d u c t i o n in th e T e r r it o r y is $1,7 59 ,1 38 ,14 9 .00 , d iv id e d as f o l l o w s : Balanced District. Demand for Money Uniform During the Year. w h it e p o p u l a t i o n is 2 2 % g r e a te r th a n M is s is s ip p i, G e o r g ia , F lo r id a a n d S o u t h G a r o lin a c o m b i n e d . ANNUAL PRODUCTION: F a ctory - - - - - - G o tto n -- - - L iv e S t o c k C orn - - - - - M in e r a ls -- - - - DEMAND FOR M O N E Y : $685,506,000 381,132,000 205,224,132 175,899,000 73,501,000 U n ifo r m . F ou r m on th s. U n ifo r m . G on su m ed on F arm . U n ifo r m . M is c e lla n e o u s G ro p s - - - 2 3 7 ,8 8 6 ,0 1 7 /E a c h b a la n c in g t h e o t h e r , (W h e a t , O a ts , H a y , V e g e t a b le s , F r u it , E t c . / m a k in g u n i f o r m d e m a n d . PHOTOGBAPII COPY U. S. CENSUS MAP SHOWING GEOGBAPIIIC DIVISION. ~E saAjipjv (BuoijeN am jo s6uip|0H paijissepaQ / 'pajjjssepun ai|] wojj paonpoiday Reproduced from the Unclassified / Declassified Holdings of the National Archives CONDENSED FACTS ABOUT THE TERRITORY. 1 7 .4 % o f th e A R E A o f th e [517,584 S q . M ile s .] 8 .3 % o f t h e P O P U L A T IO N [7,668,436.] 12.6% o f th e N a t io n a l U n it e d S ta te s . o f th e Banks of U n it e d th e S ta te s . U n it e d S ta te s . [943.] 1 0 .2 % o f t h e S ta te [1816.] 1 3 .9 % o f t h e A n n u a l F a r m P r o d u c t i o n o f t h e U n it e d S t a t e s . [$1,000,128,597.00.] 12 Crops onlvr 4 1 .8 % o f th e A n n u a l G o t t o n P r o d u c t i o n o f t h e [$381,132,400.00.] 4 4 .5 % o f th e A n n u a l G o t t o n S e e d P r o d u c t i o n o f th e U n it e d S t a t e s . [$54,785,550.00.] 9 .7 % 4 8 .8 % B a n k s o f th e U n ite d S ta te s . U n it e d S ta te s . o f t h e A n n u a l L ive S t o c k P r o d u c t i o n o f t h e U n it e d S t a t e s . [$205,224,132.00.] o f t h e A n n u a l G o t t o n E x p o r ts o f t h e U n it e d [$253,020,000.00.] 4 , £ 1 7 OOO Bale*? S ta te s . 1 2 .6 % o f th e A n n u a l T o t a l E x p o r ts o f th e U n ite d S ta te s . Galve-Slon Otilv [$218,146,097.00.] /N a t i o n a l , $108,400,635.13 /S t a t e , 69,673,845.61 B a n k in g C a p it a l a n d S u r p lu s $178,074,480.74 W h i c h w o u ld f u r n i s h a R e s e rv e B a n k w it h a G a p ita l o f $ 10 ,6 8 4 ,4 6 8 .8 0 . Annual Farm , Factory and Mineral Production $1,759,138,149.00. T H E P R O P O S E D S O U T H W E S T E R N D IS T R IC T H AS P E R C E N T A G E O F T H E KO ^ O C'l fH rH o CM 4 O ffO © 50% W H O LE U N IT E D S T A T E S AS F O L L O W S . THE GROWTH OF THE TERRITORY. P o p u l a t i o n 1900 t o 1910 A c r e s in C u l t i v a t io n 1900 t o 1910 _ _ _ _ _ P r o d u c t i o n o f F a r m C r o p s 1900 t o 1910 N u m b e r o f B a n k s 1900 t o 1914 _ _ _ _ _ C a p it a l a n d S u r p lu s o f B a n k s 1900 t o 1914 - _ _ In crea sed In crea sed In crea sed In crea sed In crea sed 39 % . 4 6 .5 % . 8 8 .9 % . 454 % . 510 % . O n t h is 1 8 .6 % o f A r a b le L a n d u n d e r C u lt iv a t io n is n o w p r o d u c e d 1 3 .9 % o f th e e n t ir e c r o p p r o d u c t i o n o f th e U. S. T h is t e r r it o r y is in c r e a s in g its p r o d u c t i o n a t t h e r a te o f $88,900,000 p e r y e a r. PHOTOGRAPH COPY U. S. CENSUS MAP 1910, SHOWING PER CENT INCREASE TOTAL POPULATION. Average for the United States 21 % . ACTUAL GAIN IN WHITE POPULATION. Texas Oklahoma - - 32% New Mexico - 106.7% Arkansas Louisiana 23.1% - 68.1% 23.8% saAiqoj\ / mjoijbm aui jo s6uip|0H paijissepaa / paijissepun ai|j w ojj paonpojday — -------Reproduced from the Unclassified / Declassified Holdings of the National Archives V C O N D E N S E D F A C T S ABOUT THE TER R ITO R Y 17.4.# OF THE A R E A OF T H E U N IT E D STAT E 5 [517 5 8 4 SQ.ML] 8 .3 # OF-THE POPULATIONOFTHE U N ITE D .STATES [J668436] 12.6 # 0 F THE NATIONAL BANKS OFTHE UN ITED STATES [ 3 4 3 ] io . 2$ of th e St a t e t a n ks of t h e u n it e d St a t e s [ i s i e ] W it h i 1 3 .9 # OFTHE ANNUAL FARM PRODUCTION OF I HE _ \ "ED 5 !'A "rS j$!.000. 24582 41.'8 % OFTHEANNUAL(0TTON PRODUCTION OFTHE UNITEDSTATES [ $ 3 8 L 132,400.00] 44.5$0FTHEANNUAL(OTTON SEED PRODUCTION OFTHE UNITED STATES [$ 5 4 ,765550.00] Parcei 9.7# OF THE ANNUAL LIVE STOCK PRODUCTION OF THE UNITED STATES [$ 2 0 5 224,132.00 I $1,166/ 4 8.8$0FTHEANNUAL COTTON EXPORTS OFTHE UNITED STATES [4217000, BALES] Ba n k s 1 2 .6 # O.FTHEANNIAL TOTAL EXPORTS OF THE UNITED STATES [$218,146,09700] GALVESTON O N LY . BANKING [AP ITALAN D SURPLUS f ^ ™ NAL WlTHII SI 78,074.480.74 WHICH WOULD FURNISHARESERVEBa NKWITH a CAPITALOF $10,684,468.80. AN N U AL FARM, FACTORYAND MINERAL PRODUCTION $1,739,138,149.00 47.4/1 But 2 Ka n s a s c it y 3 T LOUIS. ,~-J®^7iNFiELD MOLEMUE F ™a yye? t t e v il l e I i .L IT T L E ROCk- »DALLAS iBOYY^RE)^ A^j i_ 1 / ) — i f ' ----- ---------------- — ------------ ~~~~s A L L POINTS OHTHIS LINE ARE EQUIDISTANT BY RAIL FROM DALLA5AND 5T LO UIS _ ~w Or l e a n s OCAU O *0 110 *0 W it h in io d m ileso f Da l l a s t h e r e a r e i,48®41 people which is 24582 MORE THAN THERE ARE WITHIN I00 Ml LET OF KANSAS C IT Y Pa r c el Rost Z one 2; Population 2,623202.value Parm Lands J 1,166,743,688 WHICH IS MORE THAN THE 0MBINED CAPITAL OFALLTHE Ba n k s a n d T rust Cos in t h e U.S. WITHIN200 MILES OF DALLAS THERE ARE 3631063 PEOPLE WHICH IS 414°/° o f t h e Population ofthe proposed district w h il e h a v in g B U T 20.3A OF THE TOTAL A R E A ---- +- ssAjtjOJv leuojjBN oift jo s 6uip|0[-| poijissepaa / paijissepun aifl luojj paonpojdey DALLAS’ FACILITIES IN REACHING THE TERRITORY N in e T r u n k L in e R a ilr o a d s r a d ia t in g i n t w e n t y -s e v e n d iffe r e n t d i r e c t io n s w it h 91 D a ily P a s s e n g e r T r a in s : C h ic a g o , R o c k I s la n d Sc G u lf R y .; G u lf, G o lo r a d o Sc S a n t a F e R y . ; S t. L o u is , S a n F r a n c is c o Sc T e x a s R y . ; H o u s t o n Sc T e x a s G e n tr a l R a ilr o a d ; M is s o u r i, K a n s a s Sc T e x a s R y . o f T e x a s ; S t. L o u is , S o u t h w e s t e r n R y . o f T e x a s ; T e x a s Sc N ew O r le a n s R a i l r o a d ; T r i n i t y Sc B r a z o s V a lle y R y . ; T e x a s Sc P a c ific R y . F iv e E le c t r ic I n t e r u r b a n R a ilr o a d s r a d ia t in g in s e v e n d iffe r e n t d i r e c t io n s w it h 156 D a ily T r a in s , h a n d l i n g 4,000,000 p a s s e n g e r s a n n u a l l y : N o r t h e r n T e x a s T r a c t i o n G o .; S o u t h e r n T r a c t i o n G o .; T e x a s T r a c t i o n Nine Trunk Line Railroads Five Interurban Railroads G o .; E a s te r n T r a c t i o n G o .; D a lla s -G o r s ic a n a T r a c t i o n G o. D a lla s h a s H e a d q u a r t e r s a n d G e n e r a l O ffic e s f o r t h e S o u t h w e s t o f t h e W e s te r n U n io n , P o s t a l a n d M n c k e y T e le g r a p h G o m p a n ie s w it h 262 c i r c u i t s , h a n d l i n g 18,497,300 t e l e g r a m s p e r y e a r. D a lla s r a n k s s ix th in t h e U n it e d S ta te s in t o t a l v o l u m e o f b u s in e s s . t D a lla s h a s H e a d q u a r t e r s a n d G e n e r a l O ffic e s fo r t h e S o u t h w e s t o f t h e S. W . T e l e p h o n e (B e ll) C o m p a n y , w it h 159 T o ll C ir c u it s , o r i g i n a t i n g 554,000 lo n ^ d is t a n c e c a lls p e r y e a r, i n c r e a s in g a t t h e r a te o f 50,000 c a lls p e r y e a r. 2924 T o ll S t a t io n s o p e r a t e d f r o m D a lla s as h e a d q u a rters. 643 t o w n s s e rv e d f r o m D a lla s o n 50c r a t e ; 169 o n 25c ra te. Dallas 6tli City in U. S. in Telegraph Business Headquarters of Bell Telephone for the Southwest 1 5 .9 % o f a ll t h e T e le p h o n e s in T e x a s a re in D a lla s . D a lla s h a s t h e L a r g e s t T e le p h o n e D e v e lo p m e n t p e r c a p it a o f a n y c i t y in t h e U n it e d S ta te s . A ll E x p ress G o m p a n ie s a t D a lla s . O n ly six c it ie s in th e o p e r a t in g U n it e d in S ta te s th e have T e r r it o r y h a v e H ea d q u a rters a la r g e r v o l u m e o f E x p re s s Dallas 7tli City in U. S. in Express Business B u s in e s s t h a n D a lla s . D a lla s h a s M o r e E x p ress B u s in e s s p e r c a p it a t h a n a n y c i t y in t h e U n it e d S ta te s . D a lla s h a s 176 M a il R e c e ip t s a n d 137 M a il D is p a t c h e s d a ily . D a lla s h a s 111 D a ily E x c h a n g e s o f M a il P o u c h e s d ir e c t w it h t o w n s in T exas. D a lla s h a s 65 D a ily M a il D is p a t c h e s t o r a ilw a y p o s t o ffic e s . D a lla s h a s 80 D a ily R e c e ip t s o f P o u c h e s d ir e c t t o D a lla s f r o m o t h e r T e x a s c it ie s . D a lla s h a s 57 M a il R e c e ip t s d a ily f r o m r a ilw a y p o s t o ffic e lin e s , e x c lu s iv e o f t h e 80 D ir e c t R e c e ip t s f r o m T e x a s . I n r e a c h i n g t e r r it o r y o u t s id e o f T e x a s , D a lla s h a s 57 R e c e ip t s o f M n il a n d 65 D is p a t c h e s o f M a il d a ily . W h ile D a lla s is t h e 5 4 th c it y i n siz e it s P o s t a l R e c e ip t s a re 33d in v o lu m e , a n d as m u c h as a n y t w o c it ie s in t h e T e r r it o r y c o m b i n e d . 7 Postal Facilities ABSTRACT OF REPORTS OF NATIONAL BANKS IN STATES NAMED. C o v e r in g I t e m s I n d ic a t e d , as m a d e t o t h e C o m p t r o ll e r , O c t o b e r 21, 1913. (M a x im u m Territorjr m T exas No. - B o r r o w in g P e r io d o f D is t r ic t .) Capital. ' Surplus. Individual Deposits. Re-discounts, Bills Payable. - 486 $34,024,000.00 $17,881,429.06 $129,329,373.36 $12,007,954.70 " 33 16,475,000.00 7,992,500.00 73,737,105.77 4,0 8 0,2 2 3.0 6 - 315 12,185,000.00 3 ,274,006.67 59,745,818.30 1 ,903,422.00 R e s e rv e C ities 5 - 11 2 ,200,000.00 662,000.00 12,417,025.13 425,000.00 N ew M e x ic o - 40 2,215,000.00 996,900.00 14,383,713.82 332,000.00 26 3 ,020,000.00 2,351,365.83 13,711,068.97 3,1 8 3,8 3 5.8 9 R e s e rv e C ities 5 O k la h o m a - L o u is ia n a (W e s t o f M is s . R iv e r ) - A r k a n s a s (S o u t h o f A r k . R iv e r ) G o u n try B an k s - - 32 2 ,6 7 1,320.00 1,083,971.70 9 ,3 7 4,828.94 1 ,368,002.91 - - 899 54,115,320.00 25,587,673.26 226,544,803.39 1 8,7 95,215.57 - 44 18,675,000.00 8,654,500.00 86,154,130.90 4,5 0 5,2 2 3.0 6 - 943 $72,790,320.00 $34,242,173.26 $312,698,934.29 $23,300,438.63 R e s e rv e G itie s T o ta l - *4 OPERATION OF FEDERAL RESERVE RANK. ’T ( N a t io n a l B a n k s A lo n e .) (1) G o m b i n e d C a p it a l a n d S u r p lu s o f N a t io n a l B a n k s $107,032,493.00 G A P IT A L o f R e se rv e B a n k - - - - - 6% @ - - y ie ld s - $ 6,421,949.00 (2) R e s e rv e o f C o u n t r y B a n k s o n $226,544,803.00 I n d iv id u a l D e p o s it s @ 8 % y ie ld s D E P O S I T S ................................................................................. $18,123,520.00 (3 ) R e s e rv e o f R e s e rv e G ity B a n k s o n $86,154,130.00 I n d iv id u a l D e p o s it s @ 1 0 % y ie ld s D E P O S I T S ................................................................................. 8 ,6 1 5,413.00 (4) T O T A L D E P O S IT S o f R e se rv e B a n k (5) L ess R e s e rv e - - $26,738,933.00 @ 3 5 % o f D e p o s i t s .................................... 9 ,3 5 8,627.00 $17,380,306.00 - $23,802,255.00 (6) T o t a l L o a n a b le F u n d s o f R e s e rv e B a n k - - - - - - - - (7 ) M a x i m u m o f B ills P a y a b le a n d R e - d i s c o u n t s s h o w n o n o p p o s i t e p a ^ e , $23,300,438.00 (8 ) D e d u c t 3 % o f $226,544,803.00 C o u n t r y B a n k D e p o s it s , $ 6,7 96 ,3 44 .00 (9) D e d u c t 1 0 % o f $ 8 6,1 54 ,1 30 .00 R e s e rv e G ity B a n k D e p o s i t s .......................................................................................... $ 8,6 15,413.00 $15,411,757.00 $ 7,8 8 8,6 8 1.0 0 E X C E S S ................................................................................. $ 15,913,574.00 I T h e d e d u c t io n s o f I t e m s (8) a n d (9) are w a r r a n t e d b y p r o v is io n s o f b ill w h ic h r e d u c e re s e r v e s t o b e h e ld b y C o u n t r y B a n k s f r o m 1 5 % t o 1 2 % , a n d b y R e s e rv e G ity B a n k s f r o m 2 5 % t o 1 5 % , t h e r e b y in c r e a s in g th e l o a n in g p o w e r o f th e b a n k s a n d c o r r e s p o n d i n g l y r e d u c i n g t h e ir n e e d o f b o r r o w in g . N o a c c o u n t is t a k e n a b o v e f o r p o s s ib le G o v e r n m e n t D e p o s it s ; n o r o f v o lu n t a r y c o u n t in g b e tw e e n F ed era l R eserve B a n k s. or fo r c e d r e -d is pP A llo w a n c e s h o u l d a lso b e m a d e fo r th e p y r a m i d e d lo a n s i n c l u d e d in t h e t o t a l s h o w n a b o v e o f $ 2 3 ,3 0 0 ,438.00 o f b ills p a y a b le a n d r e - d i s c o u n t s . Jf 9 Reproduced from the Unclassified / Declassified Holdings of the National Archives STATEMENT OF DALLAS BANKS. COMBINED STATEMENTS OF THE FIVE NATIONAL AND FIVE STATE BANKS, AT CLOSE OF BUSINESS JANUARY 13, 1914. Resources: L oans U. S. B o n d s O th er B o n d s B a n k in g H o u s e A v a ila b le G a sh Statement of Dallas Banks. T o t a ls Liabilities: $ 25,236,325.97 3 ,0 3 1,000.00 1,624,230.68 1,128,583.96 12,482,407.91 G a p ita l S u r p lu s a n d C ir c u la tio n D e p o s it s - $ 5 ,0 0 0,0 0 0.0 0 P r o fit s 3 ,8 2 7,4 1 3.3 8 2 ,7 7 5,5 0 0.0 0 3 1 ,8 99 ,6 35 .14 $43,502,548.52 $ 43 ,502,548.52 BANKING SERVICE RENDERED TO THEIR CORRESPONDENTS BY THE TEN DALLAS BANKS DURING 1913. Service Rendered Dallas District. Banks in H a n d le d t h r o u g h t h e ir T r a n s it D e p a r t m e n t s i t e m s o n o t h e r B a n k s w it h in t h e D a lla s d is t r ic t a m o u n t i n g t o - $499,589,236.00 H a n d le d i t e m s o n a ll p o i n t s o u t s id e t h e D a lla s d i s t r i c t a m o u n t i n g t o 105,331,063.00 T o t a l ..................................................................................$ 604,920,299.00 R e m i t t e d o n R e c e ip t t o E a s te r n B a n k s , c o u n tr y ch e c k s se n t us fo r c o lle c t io n in t h is d i s t r i c t .........................................................................$ 11 1 ,595,076.00 R e c e iv e d f r o m t h e ir c o r r e s p o n d e n t B a n k s a n d o th e rs s h ip m e n ts o f cu r r e n c y a n d c o in a m o u n tin g to - S h ip p e d o u t t o t h e ir c o r r e s p o n d e n t s in c o n n e c tio n w it h c r o p m ov em en t, e t c ., c u r r e n c y a n d c o i n a m o u n t i n g t o $ 11,600,193.00 20,936,313.00 T o t a l s h i p m e n t s , in a n d o u t , o f c u r r e n c y a n d c o i n L o a n e d to B a n k s a n d B a n k ers th r o u g h o u t th e year an a g g reg a te o f _ _ _ _ _ _ _ _ _ 10 - $32 ,53 6 ,50 6 .0 0 $14,092,937.00 LIST OF BANKING TOWNS IN TEXAS CABRYING BALANCES IN DALLAS. A b b o tt A bilene Addison A lba A lban y Aledo A llen A lm a A lto A ltova Alvarado Alvord A m arillo Anderson Anna Annona Anson Appleby A rlin gton Arp A sh lan d A sherton A th en s A tla n ta Avalon Avin ger A ubrey A u stin Alexander Bagwell Baird Ballinger B alm orh ea B anks Bar dwell Barksdale Barry Barstow B artlett B astrop Bay C ity B ea u m o n t Beckville Beeville Bellevue Bells Bellville B elton Ben W heeler Bis§ Sandy Bio Springs B lo o m in g Grove B lossom B lu m B lu m burg Boerne B ogota Bonham B on ita Bowie Boyce Boyd Bradshaw Brady B randon B ran h am Brashear Brazos B rem ond B ren h a m B ridgeport B ritton B ronte B rookston Brownsville Brow nw ood B ryan Deport D etroit Dialville Dodd C ity Dorchester D u blin D uncanville Ea^le Lake Ea^le Pass E astland Ector Ed^ew ood E dna El C am po Eldorado Electra El<§in E lkhart E lm o El Paso Elysian Fields E m ory E m h ou se E nnis Eustace East Bernard Fairfield Farm ers B ranch F arm ersville Fate F erris F lin t Floyd Floydada F orreston F orney F t. W orth Franklin Frankston F redricksbur Frisco Frost Fill bright Flaton ia G ail Gainesville G alveston Garland Gary Garza Gatesville G eorgetow n G ilm er Gladew ater G len Rose G olden G old th waite G onzales G o od lett Gordonville G o rm an G rah a m G ran bu ry G rand Prairie G rand Saline Grandview Grander G rapeland Grapevine Greenville Greenwood Groesbeck Grove ton G u n ter G u stin e Garden C ity G rand Falls Bluffdale Bivins Bristol B uckh olts Bu ffalo Bullard Burkb urnett B urn et Burleson B urton B ynum Caddo M ills Caldwell Calvert C am eron C am pbell C anadian C an ton C anyon C arbon C arm ine C arrollton Carthage Cason Cedar Hill Celeste Celina Center Centerville Chandler Chico Childress C hillicothe Chilton Cisco C larendon Clarksville Cleburne C lifton Clyde C oah om a C olem an Collinsville C olm esneil Colorado C om an che C om m erce C om o Coolid^e Cooper Copeville Coppell Copperas Cove Corpus C hristi Corrigan Corsicana Goupland C ovington Crandall Crawford Cresson Crockett Cross Plains Crowell Cuero C u m by C ushing Dainger field D alhart Dallas D aw son D ecatur De K alb De Leon Del Rio Denison D en ton Ila germ an H allettsville H a m ilto n H a m lin H andley H ansford H arleton Harper H asse H aw kins Haw ley H edley H earne H eath H ebron H em p h ill H em pstead H enderson H enrietta Hereford H ico H illsboro H ollan d H oney Grove H ooks H ou ston Howe H ow land H ubbard H ugh es Springs H untsville H u tc h in s H u tto In d ia n Gap Iren e’ Irving Ita ly Itasca Jacksboro Jacksonville Jefferson J en n y n Jew ett Josephine Justin K a u fm a n K em p Kerens K ilgore K illeen Kingsville Kirbyville K irklan d Kirvin Kleburj§ K londike Kopperl Kosse Kress K ru rn K o u n tze Ladonia Laredo La G range Lam esa Lam pasas Lancaster Larue Lavon Leesburg Leonard Leonder Leroy Lewisville Lindale Linden Lipan 11 s0Aiipjvieuo!}eN 341 jo s 6u|pioh paifissepeQ / paijissepun ai|} luojj paonpcuctey Reproduced from the Unclassified / Declassified Holdings of the National Archives LIST OF BANKING TOWNS IN TEXAS CARRYING BALANCES IN DALLAS (C o n tin u e d ). Livingston Llano Lockhart Lockney Loxneta Lone Oak Long Branch Longview Loraine Lorena L o tt Lovelady L u fk in Luting Lyons M cG regor M c K in n ey M cL ean M abank M adisonville M alakoif M alon e M ansfield M arble Falls M arfa M a rk h a m M a rlin M arqu ez M arshall M a rt M atad or M aud Maxw ell M aypearl M elissa M em p h is M ercury M eridian M erit M erkel M erten s M esqu ite M exia M id lan d M id lo th ia n M ila n o M illsap M iles M ilford M in eola M ineral W ells M in g u s M oody M t . C alm M t . P leasant M t . Seim an M t . Vernon M u enster M u llin M u rch ison M u rp h y M yra N acogdoches Naples N avasota Nevada Newark New Boston New B raunfels New Castle New som e N ocona N orm an ^e North Z u lch Novice New ton New Hope Oakwoods Odell Odessa O^lesbv O klau n ion Oleny O m aha Orange Osceola Overton O lton Pecan G ap P aducah P ain t Rock Palacios Palestine P alm er Paradise Paris Park Spring P attonville Pearsonville Pecos Penelope P etty P ickton P ilot P oin t Pine H ill P ittsburg Plain view Plains Piano P oin t Poolville P onta Port A rthu r Pottsboro Powell Prairie H ill Princeton P ritch ett Proctor P u tn a m Purdon Q uanah Queen City Q u itm an Q u in lan R alls Ranger Ravenna R eagan Red Oak Red R ock Redwater R h ineh art Rhonesboro Rice Richardson R ich lan d Rio V ista R ising Star R oanoke Roby Rochester Rockdale Rockw all Rogers Roscoe R osebud Rosewood R o tan R ow lett R oxton Royse Rule R usk Renner Sacul Sadler St. Jo Saltillo San Angelo San A n to n io Sandia Sanger San Jaun San M arcos San Saba Santa A n n a Savoy Schertz Schulenburg Scurry Seagoville Sealy Seguin Sem in ole Seym our Sh erm an Shiner Sinton S m ith ville Snyder Sou th m ayde Spur S tam ford S ta n to n Steph en ville S treetm an Su lphu r Springs Su lphu r B luff Su n set Sweetwater Sylvester Sugarland Swan T a ft Talco T a tu m Taylor Teague T em ple Terrell Texarkana Texas City T h o rn to n T im p so n T o m b all T o m Bean T ren t T ren ton Troupe Troy T ru m b u ll T u lia T urkey T yler Uvalde Valley M ills V an A lstyn e V an H orne V enus V ernon Victoria W aco W a ln u t Springs W ax ah ach ie W eatherf ord W eim er W ellin g ton W ells W est W estm in ster W h arton W heeler W h itn ey W h iteh o u se W h itesboro W hi tewright W h itt W ich ita Falls W ills P oin t W ilm er W inch ester W in d o m W infield W inn sboro W in o n a W inters W olfe C ity W o rth a m W ylie W oodville W oodson Y an tis Yoakum Y orktow n 5 6 6 Banks Carrying 1654 A ccou n ts With Average Balance o f 4 10.T56,0 0 0 .0 0 12 This Circle of 100 Miles Radius, of which Dallas is the centre, encloses 10.8% of the area of Texas, Y et 2 5 .4 % 2 9 .5 % 3 3 .1 % 3 4 .6 % 4 3 .4 % 3 7 .9 % w i t h in t h is 1 0 .8 % o f t h e a re a o f th e S ta te th e re is : (3,797 M ile s ) o f t h e R a ilr o a d M ile a g e o f t h e S t a t e . ($747,666,866) o f t h e a s s e s se d v a lu a t io n o f t h e S t a t e . (1 ,39 9 ,08 1 ) o f t h e p o p u l a t i o n o f t h e S t a t e . (144,583) o f t h e fa r m s o f t h e S ta te v a lu e d a t $ 6 0 5 ,6 4 5 ,575 o n w h ic h are r a is e d : o f t h e c o t t o n o f T e x a s (2,223,622 B a le s ) a n d ($ 2 51 ,21 7 ,64 7 ) o f t h e t o t a l f a r m p r o d u c t i o n o f T e x a s . 46 o f t h e 249 c o u n t i e s o f T e x a s a n d 8 o f t h e 77 c o u n t i e s o f O k la h o m a , h a v in g 1,320 G itie s , T o w n s a n d V illa g e s w it h 16,669 r a t e d b u s in e s s h o u s e s a n d a p o p u l a t i o n o f 1,486,041. 13 saAiipjv |Buoi}B[\j aifl jo s6uip|0H paijissepaQ / paijissepun am luojj paonpoiday V IE W W H O LESALE D IS T R IC T . A Few o f th e 26 W h olesa le A^>r ic u ltu r a l I m p le m e n t H ou ses in D allas. 14 DALLAS COMMERCIAL STATISTICS. SHOWING THAT ESTABLISHED TREND OF TRADE CENTERS AT DALLAS Dallas Leads the W orld: Dallas Leads the World. I n t h e M a n u f a c t u r e o f C o t t o n G in M a c h in e r y . I n t h e M a n u f a c t u r e o f H a r n e s s a n d S a d d le r y . I n t h e D i s t r i b u t i o n o f A g r ic u lt u r a l I m p l e m e n t s K a n s a s C ity . Dallas Leads Every City in the Southw est: In P o p u la tio n - - - - - - - I n W h o le s a le B u s in e s s _ _ _ _ _ In In In In In In _ _ _ - secon d o n ly to Dallas Leads Every City in the Southwest. - 131,278 $211,458,000.00 N u m b e r o f W h o le s a le H o u s e s - - - - - 318 F a cto ry O u tp u t _ _ _ _ _ _ _ _ _ _ $42,595,000.00 N u m b e r o f F a c t o r ie s 393 F r e ig h t B u s in e s s _ _ _ _ _ _ _ 602 c a r lo a d s p e r d a y P o s t a l R e c e ip t s $1,002,023.00 N ew B u ild in g P e r m i t s .............................................. $8,439,540.00 D a lla s se lls m o r e G o o d s in t h e T e r r it o r y t h a n e it h e r S t. L o u is o r K a n s a s G ity , a n d p a r t ic u la r ly s u r p a s s e s t h e m a n d h a s th e la r g e s t v o lu m e in th e s e li n e s : A u t o m o b i le s , C em en t, D r u g s a n d G r o c e r ie s , D ry G o o d s , E le c t r ic a l S u p p lie s , H a rn e s s H a ts a n d G a p s, M a c h in e r y , M illin e r y , P aper. N O T E .— S t. L o u is s u r p a s s e s T e r r it o r y in t w o lin e s o n ly , v iz : Dallas Sells More Goods in the Territory than her nearest competitors, St. Kansas City. Louis or P e tr o le u m P r o d u c ts , P a in t s a n d O ils, S a d d le r y , V e h ic le s , D a lla s in v o l u m e o f b u s in e s s in B o o ts a n d S h oes, a n d H ard w are. th e 141 F ir m s o f N a t io n a l I m p o r t a n c e a n d o p e r a t in g a ll o v e r t h e U n it e d S ta te s h a v e t h e ir g e n e r a l o ffic e s a n d w a r e h o u s e s a t D a lla s , f o r t h e S ou th w est. 141 Firms of National Impor tance Located at Dallas. S ig n e d s t a t e m e n t s f r o m Dallas Sells 44,351 Customers Outside of Texas. 28,280 3,151 5,698 7,222 t h e D a lla s J o b b e r s s h o w m erch a n ts m erch a n ts m erch a n ts m erch a n ts in in in in t h a t t h e y s e ll: O k la h o m a . N ew M e x ic o . A rkan sas. L o u is ia n a . (NOTE.—These statements necessarily overlap to some extent.) O f t h e 2448 r a t e d b u s in e s s h o u s e s i n D a lla s t w o o n l y o p e r a t e as b r a n c h e s o f S t. L o u is . O n e o n l y o p e r a t e s as b r a n c h o f N ew O r le a n s . Three Dallas Houses only are branches of other South western Cities. T o t a l C o t t o n A re a W h o le S o u t h 892,072 S q . M ile s . T o t a l C o t t o n A re a in t h e p r o p o s e d T e r r it o r y w it h in 12 h o u r s r id e f r o m D a lla s 437,794 S q . M ile s . 49.1 % of Cotton Acreage of the South within 12 hours ride from Dallas. D a lla s C o t t o n E x c h a n g e h a s 73 m e m b e r s w it h b u y e r s in e v e ry p o r t i o n o f c o t t o n t e r r it o r y in p r o p o s e d D is t r ic t . B o u g h t la s t y e a r 1,459,000 Dallas is the Largest Cotton Market in the United States, b a le s a n d p a id o u t $92,097,000.00. 276 C o t t o n S e e d O il M ills are w it h in 150 m ile s o f D a lla s , p r o d u c i n g o n e t h i r d o f t h e t o t a l G o t t o n S e e d O il o f t h e U n it e d S ta te s . T h ree o f « Dallas a Great Cotton Seed Products Market. t h e L a r g e s t M ills are a t D a lla s . 15 saAiLiojviBuoijeN eij} jo s6uip|0H psijissepeQ / paijissepun ai# luojj paonpojdey __ i ___________________________________________________ ____________ — .......... - ............... ........ i— ......................... .... ...... ....... . ........................................ ...... .................. V IE W D A L LA S C O M M O N W E A L T H BANK. T h e B u sin ess C en ter o f th e S o u th w e st. D allas. DALLAS COMMERCIAL STATISTICS B u t le r B r o s , h a v e five d i s t r i b u t i n g h o u s e s : G h ic a ^ o , N ew Y o r k , M in n e a p o lis , Butler Bros, at Dallas. S t. L o u is a n d D a lla s . S p e n t $1,600,000 in b u i l d i n g ; o c c u p y 475,000 S q . fe e t in o n e b u i ld in g . I t is n o t a b r a n c h o f S t. L o u is , a n d t h e D a lla s h o u s e h a n d le s a ll S o u t h w e s t e r n b u s in e s s . F o r d M o t o r G ar G o. are n o w b u i ld in g a t D a lla s o n e o f t h e ir fe w a s s e m b lin g p la n t s , t o c o s t $400,000, e m p l o y i n g 600 m e n , t o h a n d le b u s in e s s o f S ou th w est. S e a rs, R o e b u c k & G o. h a v e t h e ir la r g e s t d i s t r i b u t i n g h o u s e a t D a lla s . Ford Motor Co. Assembling Plant at Dallas. Sears, Roebuck 8c Co. at Dallas. I n v e s t m e n t $4,0 00 ,0 00 . 1,200,000 S q . f e e t o f flo o r s p a c e , e m p l o y i n g 1300 p e o p le , d i s t r i b u t i n g m e r c h a n d is e o n ly . 26 W h o le s a le A g r ic u lt u r a l I m p l e m e n t o f $35,000,000 a n n u a lly . 32 W h o le s a le 1913. 141 A u t o m o b ile G on cern s in H o u s e s a t D a lla s d o D a lla s G o n c e r n s h a v e h e a d q u a r t e r s a t D a lla s b u s in e s s a n d b r a n c h e s f r o m D a lla s . s o ld and a b u s in e s s $18,164,972 op era te d u r in g S o u th w estern FIRMS OF NATIONAL IMPORTANCE AT DALLAS A . P . W . Paper Co. A llis C halm ers M fg . Co. A m erican LaFrance Fire E ngine Co. A m erica n M u ltig ra p h Sales Co. A m erican Soda F o u n ta in Co. A m erican Steel & W ire Co. A m erican Tire 8c R ubber Co. A m erican Type Founders Co. A m erican W ell W orks. A rt M eta l C on stru ction Co. A rt W a ll Paper M ills. A tk in s, M en tzer 8c Co. B . F . Avery 8c Sons Plow Co. Avery C om pan y of Texas. B arn h art Brothers 8c Spindler. S a m u el B in g h a m s Sons M fg . Co. T h e B olte M fg . Co. S. F. Bowser 8c Co. Brow n Gracker 8c C andy Co. (Loose W iles B iscuit C o.) Brow n M fg . Co. B urn sw ick-B alke Collender Co. B uick A u to Co. A u g u st A . B usch 8c Co. B utler Brothers. P hilip Carey Co. J. I . Case Plow W orks. J. I . Case T h resh in g M a ch in e Co. Cocoa C ola Co. C olu m b ia G raph oph on e Co. C onsolidated F ilm 8c Supply Co. C on tin en ta l G in Co. Crane Go. Crow n Cork 8c Seal Co. Joh n Deere Plow Go. D ia m on d R ubber Co. D etroit Electric 8c M o to r Car Co. Edwards M fg . Co. Electric Appliance Co. E lliot Fisher Go. E m erson B ra n tin g h a m Im p le m e n t Co. Federal P late G lass Co. Firestone Tire 8c R ubber Co. Fisk Tire C o. , Ford M o to r Co. G eneral Fire E xtinguisher Co. G ilson ite C on stru ction Co. Goodyear Tire 8c R ubber Co. G ra tto n 8c K n ig h t M fg . Co. G. H . G ray R ubber Co. H art 8c Crouse. Hesse Envelope Co. W . C. H ixson 8c Co. G in n 8c Co. H u dson M o tor Car Co. G eo. P. Ide 8c Co. Im perial M o tor Gar Co. In tern a tio n a l Text Book Co. B . F. Johnson P u blish in g Co. L in coln P ain t 8c Golor Co. (Acm e W h ite Lead & Color C o.) L iqu id Carbonic Co. A . E. L ittle 8c Co. W . R . M adison P u blish in g Co. M agn o lia P etroleu m Co. M aster Builders Co. M ich ig a n M o tor Car Co. Mic.helin Tire Co. M o n arch Telephone M fg . Co. H . K . M u lford Co. T h e M u rray Co. New H om e Sewing M ach in e Co. Oliver C hilled Plow W orks. Overland A u to m ob ile Co. Parlin 8c Orendorh Im p le m e n t Go. Pathfinder M o tor Car Co. P atterson , Sargent P ain t Go. Peavey R ubber Co. Pierce Fordyce Oil A ssn. Philips Boyd P u b. Co. P ittsbu rg W ater H eater Co. P rest-O -L ite Co. Q ueen C ity P rin tin g In k Co. R em in g to n Typew riter Co. R u m ley P roducts Co. Sears R oebuck 8c Co. Sharpless Separator Co. Sherw in W illia m s P ain t Co. Sigler-M cN a m era Co. (Acm e Silver C o.) Silver B u rd ett 8c Co. South ern Hardware 8c W o od sto ck Co. South ern Products C om p an y . (M itsu i 8c C o.) R ock Isla n d Plow Co. South w est General Electric Co. (G en eral Electric C o.) South w estern Paper Co. (J. W . B utler Paper C o.) A . G . Spalding 8c Bro. S ta n a rd -T ilto n M illin g Co. 17 Studebaker Brothers Co. Texas B itu lith ic Co. Texas G lass 8c P ain t Co. (Pittsburg P late G lass Co.) Texas Harvester Go. (International Harvester C o.) Texas M ach in ery 8c Supply Go. (Fairb a n k s-M orse 8c C o.) Texas M olin e Plow Co. (M oline Plow C o .) Texas Ohio C ultivator Co. (Ohio C u lti vator Co.) A . J. Tower 8c Co. Underw ood Typew riter Co. U n ited Cork Co. U n ited Sh irt 8c Collar Go. U n ited States C hem ical Co. U n ited States Tire Co. W estern Coal 8c M in in g Co. W estern Electric Co. W estin gh ou se Electric 8c M fg . Co. A . II. W ilk in s Co. (A m erican Book C o.) L. W o lf M fg . Co. W estern U n ion Telegraph Co. P ostal Telegraph Co. M ackey Telegraph Go. Bell Telephone Co. Stone 8c W ebster Corporation. P ittsbu rg T estin g Laboratory. R obert W . H u n t 8c Co. R epublic Steel Co. A m erican Sheet 8c T in Plate Co. Chicago Bridge & Iron W orks. N ational T u be Co. G ra h a m Paper Co. A etn a Powder Co. N ation al Cash Register Co. W est D isin fectin g Co. L . C. S m ith 8c Bro. B urroughs A dding M a ch in e Go. U nited M o tor Co. B . F. G oodrich Co. Cole M o tor Car Co. T h e H alff Co. Franklin M o tor Car Co. Packard M o to r Car Co. W h ite M o to r Gar Co. A u to m a tic Sprinkler Co. G eneral F ilm Co. M c B e th Evans G lass Co. Advance Thresher Go. DALLAS COMMERCIAL STATISTICS—GENERAL AND COMPARATIVE. I t wil.1 b e c o n c e d e d t h a t a ll o f T e x a s is n e a r e r D a lla s t h a n a n y o t h e r l o c a tio n u n d e r c o n s id e r a tio n . T h e m a p a t t a c h e d w ill s h o w t h a t a ll o f th e t e r r it o r y c l a i m e d in O k la h o m a , A r k a n s a s a n d L o u is ia n a is w i t h in fift e e n h o u r s b y r a il f r o m D a lla s . T h a t ev e ry p o r t i o n o f t h e t e r r i t o r y c a n b e r e a c h e d f r o m D a lla s in le ss t i m e t h a n f r o m S t. L o u is . W it h t h e e x c e p t i o n o f a s m a ll p o r t i o n o f N o r t h e r n O k la h o m a , n o r t h o f t h e C a n a d ia n R iv e r , i t c a n b e r e a c h e d f r o m D a lla s b y ra il in s h o r t e r t i m e t h a n f r o m K a n s a s C it y . T h e o n ly p o r t i o n o f t h e t e r r it o r y t h a t c a n b e r e a c h e d f r o m D e n v e r in a s h o r t e r t i m e t h a n f r o m D a lla s is t h e N o r t h e r n h a l f o f N ew M e x ic o a n d a s m a ll p o r t i o n o f t h e P a n h a n d le o f T e x a s . L ess t h a n 5 % o f t h e p o p u l a t i o n in th e t e r r it o r y e x c lu s iv e o f T e x a s c a n b e r e a c h e d m o r e q u i c k ly f r o m K a n s a s C ity o r S t. L o u is t h a n f r o m D a lla s . 893 o f th e 943 N a t io n a l B a n k s are n e a r e r D a lla s t h a n t h e y are K a n s a s C ity , S t. L o u is , D e n v e r o r N ew Dallas Closer to all the Terri tory than any other City. O r le a n s . 1761 o f th e 1816 S ta te B a n k s are n e a r e r D a lla s t h a n a n y o t h e r o f th e c it ie s m e n t i o n e d . G r o w t h in P o p u la tio n — P er G e n t: I n c r e a s e in F a c t o r y E m p lo y e e s — P er G e n t : I n c r e a s e in V a lu e o f F a cto ry P r o d u c ts — P er C e n t : 1900 t o 1910 F iv e Y e a r s 1899 to 1904 F ive Y e a r s 1904 to 1909 1899 t o 1904 1904 t o 1909 Dallas 21.2 41.7 64.7 72.5 Dallas Increased 116% in Popu lation, 184% in Factory Out put 1900 to 1910, Leading all Cities in Southwest. 116% N ew O r le a n s 18% 7.9 — 3.6 41.7 — 1.2 S t. L o u is 19% 5.6 27.6 38.0 22.9 13.8 32.6 50.8 53.8 11.3 7.5 40.8 50.9 13.8 24.7 — 3.3 40.6 K a n s a s G ity , M o. 5 1 .7 % M e m p h is 2 8 .1 % D enver 5 9 .4 % 2200 T r a v e lin g M e n S o u th w e st. liv e a t D a lla s and m ake it H e a d q u a r t e r s fo r t h e D a lla s h as 52 M a g a z in e s a n d P e r io d ic a ls , a n d , n e x t t o N a s h v ille , is t h e la r g e s t p u b l i c a t i o n c e n t e r in t h e w h o le S o u t h . C o m m e r c i a l r a t in g o f th e 2284 b u s in e s s fir m s o f D a lla s t o t a l $115,343,500.00, a n a v e ra g e o f o v e r $50,000 e a c h . Dallas Second Publication Cen ter in the South. D allas O ffice B u ild in g s. DALLAS—COMPARATIVE AND ILLUSTRATIVE. 3,691,063 p e o p le liv e w i t h in 200 m ile s o f D a lla s , w h ic h is 4 7 .4 % o f t h e e n t ir e p o p u l a t i o n o f t h e p r o p o s e d d is t r ic t , a l t h o u g h i t i n c l u d e s b u t 2 0 .3 % o f t h e a re a o f t h e d is t r ic t . Wealth and Population of Dis trict Centre around Dallas 2,623,202 liv e in P a r c e l P o s t Z o n e T w o ; t h is Z o n e o f 150 m ile s r a d iu s f r o m D a lla s . -for 1909 F a r m v a lu e s in Z o n e T w o A are a r o u n d $1,1 66 ,7 43 ,68 8 , w h ic h is a g r e a t e r a m o u n t t h a n t h e c a p it a l a n d s u r p lu s o f a ll b a n k s , t r u s t a n d l o a n c o m p a n i e s i n t h e U n it e d S ta te s c o m b i n e d , of same Year Farm Values Greater than Capi tal of all Banks in the United States. T h e A n n u a l F a r m P r o d u c t i o n in Z o n e T w o is g r e a te r t h a n t h e c o m b i n e d f a c t o r y w a ^ es o f S t. L o u is , C le v e la n d , D e t r o it , P it t s b u r g , B o s t o n , B u ffa lo , S a n F r a n c is c o a n d P r o v id e n c e . 160 D a lla s c o n c e r n s are r a t e d a t o v e r $ 1,000,000.00. I t is in t e r e s t i n g t o n o t e t h a t t h e lo a n s a n d d i s c o u n t s o f T e x a s B a n k s a lo n e are g r e a te r t h a n t h o s e o f A la b a m a , M is s is s ip p i, A r k a n s a s , L o u is ia n a a n d F lo r id a c o m b i n e d . K a n s a s C ity c la im s p r e s tig e o n a c c o u n t o f S ea rs, R o e b u c k & C o . l o c a t i n g th e re . T h e K a n s a s G ity h o u s e o f S e a r s, R o e b u c k & C o . is a w a r e h o u s e o n ly , o c c u p y i n g 200,000 s q . f e e t o f flo o r s p a c e , s h i p p i n g o n o r d e r f r o m G h ic a ^ o . T h e D a lla s H o u s e o f S e a rs, R o e b u c k & G o. h a s six t im e s th e a m o u n t o f flo o r s p a c e , o r ig in a t e s a n d s h ip s f r o m D a lla s a ll b u s in e s s f o r T e x a s , O k la h o m a , A r k a n s a s , N ew M e x ic o , a n d L o u is ia n a . Sears, Roebuek & Co., Dallas, Six Times Greater than Kan sas City House. 100 MILE RADIUS CIRCLES AROUND DALLAS, ST. LOUIS AND KANSAS CITY, EXCLUDING THE POPULATIONS OF THE CENTRAL CITIES GIVES: % In crea se 1900-1910 1910 P o p u la tio n D a lla s K a n s a s C ity S t. L o u is I n c l u d i n g th e p o p u l a t i o n s o f t h e c e n t r a l D a lla s _ _ _ _ S t. L o u is K a n s a s C it y _ _ _ 1,279,160 1,254,578 1,387,441 As Many or More People within 100 Miles of Dallas than there are within 100 miles of St. Louis or Kansas City. c it ie s , ^ a in s in p o p u l a t i o n w e r e : _ _ 1 8 .0 % 1 4 .8 % _ _ 1 .4 % T o t a l D a lla s p o p u l a t i o n , 1,486,041, b e in ^ 40.3 p e r s q . w it h 20.7 f o r K a n s a s , a n d 47.9 fo r M is s o u r i. m ile , com p a red 21 S0AIL|OJV |Buo]}Bf\| 041 ]0 s6uip|0H p0ijissE|O0Q / pajjissBioun sifl Luojj paonpoiday HI Reproduced from the Unclassified / Declassified Holdings of the National Archives STORE TITCHE-G0ETTINGER5 DEPARTMENT STORE . ? NEW BUILDING of DALLAS T IM E S HERALD . TYPI / J -
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