Texas

banks, products, cotton, value, manufacture, total, mileage and miles

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The manufacture of bricks and other clay products is widely and numerously scattered. Much ice is made in every town. No distilled spirits are made and no wool or mohair is woven. Dallas is second only to Nashville as a Southern publication centre. Dallas and Hous ton are somewhat ahead of Fort Worth and San Antonio as manufacturing places. The im portant manufactures of Dallas are cotton gin machinery, meat packing, flour and grist milling, cotton-seed oil and cake, leather and printing. In Houston cotton seed, meat packing, rice cleaning, railway car repairing and brewing are the chief industries. Fort Worth leads in meat packing and flour milling, San Antonio led in brewing. In these four largest cities a third of the total manufacturing is done. Of the wage earners, 6 per cent are women, 2 per cent are children under 16 years.

The 1914 United States census statistics fin Texas manufacturing are as follows: Number of establishments 5.084 Persons engaged in manufacture 91,114 Primary hqrse power 335, 791 Capital 283,544.000 Salaries and wages 59.179.000 Value of finished products 361,279 , 000 Value added to raw product by manufacture 108.135,000 Statistics for those industries where the value added by manufacture was in excess of $1,000,000 are as follows: Number of estab- Number Value lish- of wage added by INDUSTRY meets earners manufacture Lumber products 587 19,956 $17.101.000 Printing and publishing 1,188 4.690 11.054.000 Car repairing steam railroads. 63 10.915 9,298.000 Slaughtering and meat pack ing 21 3,491 8.533.000 Oil, cotton-seed and cake 233 4,471 5,768.000 Liquors. malt 13 958 5.542.000 Flour and grist mill products. 191 1,300 5,537,000 Foundry and maclune shop products 174 3,026 4,743,000 Ice manufactured 255 1.926 3,668.000 Bread and other bakery products 530 1,949 3.361.000 Bnek aad other clay products 81 1,811 1.444.000 Cement, confectionery, sheet metal, cotton goods, artificial gas, leather and mineral waters are the other chief manufactures; the value added by manufacture in each case is slightly in excess of $1,000,000.

Before the Civil War less than 500 miles of railway were built. In 1919 there were over 15,800 miles in operation, not including 4,200 miles of side tracks. Rail way building was greatly promoted by land grants until the public lands were exhausted in 1882. The leading systems are the Southern Pacific (mileage, 3,000), the Gould System, in cluding the International and Great Northern and the Texas and Pacific (mileage, 3,000), the Santa Fe (mileage, 2,000) and the Missouri, Kansas and Texas (mileage, 1,500). The Texas Railroad Commission has authority to fix rates and otherwise to control intrastate railway traffic. The issuance of railway stocks and

bonds is strictly controlled. Texas is first among the States in railway mileage, having half again as much per inhabitant and two thirds as much per square mile as the United States as a whole. Numerous steamship lines connect Galveston with the great ports of the world. Some 500 miles of interurban and 700 miles of urban electric lines are in operation. From $10,000,000 to $15,000,000 are being spent each year upon the roads.

Cotton lint is the principal ex port exceeding in value all the other exports combined. Most of this cotton goes to Europe via Houston and Galveston. In descending order the other chief exports are petroleum, cotton-seed products, cattle, lumber, horses, mules, rice, wool and mohair. The imports are chiefly machinery, clothing, vehicles, furniture and a wide variety of other manufactured goods. Pork, sugar, potatoes and a host of other foodstuffs are imported in considerable amounts. Strong efforts are being made to reduce such food importations by raising an increasing amount of crops other than cotton. reduce such food importations by raising an consumption about balance, cotton lint being omitted from the count. This lint produces a balance of trade in favor of Texas of over $200,000,000 a year. Galveston is one of the 15 principal ports of the world; her imports and exports are mostly but not exclusively of Texas destination and origin.

Banks and Banking.— Law and public opin ion opposing governmental banks, private banks, some of which are still flourishing, prevailed until 1865 when the first national bank was chartered at Galveston. In 1918 there were 511 national banks, with one of the 12 regional reserve banks at Dallas. The total capitaliza tion of these banks is above $35,000,000; the total surplus is above $20,000,000; the total de posits are over $200,000,000. A State bank ing law went into effect in 1905 under which nearly 900 State banks have gone into successful operation. Their total capitalization is over $23,000,000, their surplus is over $12,000,000, their 'deposits are about $165,000,000. De positors are protected either by a bonding sys tem or by a State guaranty fund maintained by assessments on the banks collectively. Ten national banks have deposits in excess of $4, 000,000 each; 10 State banks have deposits of over $1,000,000 each. There is no overwhelm ingly preponderant bank. Interest rates are still rather high, kept up by rapidly rising land valueS, by large business profits and by other causes.

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