nara_rg082_e02_b2658_05.pdf

Reproduced from the Unclassified / Declassified Holdings of the National Archives

Texas and The Southwest

BOOK OF FACTS

AN ARGUMENT FOR THE LOCATION OF A

Federal Reserve Bank

at Dallas

TO THE

PRESIDENT OF THE UNITED STATES

m


COMPARATIVE STATISTICS SHOWING THE ADVANTAGES OP DALLAS. TEXAS --- QjflR FORT WORTH. TEXAS. AS SITE FOR REGIONAL BANE.

A comparison of the printed Books of Pacts heretofore filed with the Reserve Bank Organization Committee by Comaittees representing the respective cities would unquestionably be favorable to Dallas, and special reference is made to the data shorn bn Pages 2, 6, 7 and 13 of the Dallas "Book of Facts" as to the accessibility of Dallas to the territory, etc.

Supplementing the data contained in the printed Book of .pacts, attention is called to the following comparisons;

BANKING RESOURCESx^^tached hereto are statements showing the resources

of the five National, ant five Stafc*, Banks of Dallas, and the eight National, and three State, Banks of Port Worth; the same being separate detailed statements of the State and National Banks in each city, and the combined statement of both National and State Banks. In this combined statement attention is here calledparticularly to the principal items, as follows:

Dallas Banks show #31,801,000 of deposits, against K. ~Port Worths #18,860,000; and total Resources of #43,500,000, crT

*?vl000 re3pectively* Special attention is ale*calledto the fact that whereas the Dallas Banks showed only $45.00*Fort wrth Banks showed $1,725,000. Q

COMMERCIAL IMPORTANCE.... ... m* ..................

Attached hereto are some printed pages from the "Official J3 xexas Almanac", giving comparative statistical information with reference to the cities of Dallas and Port Worth, and of Dallas and iarrant Counties, respectively. The information shown is all i^ aken from official sources.

Special attention is called to the fact that the Dallas of?0rt Worth in pP^ation; in Assessed Values, and Public Utilities; Building Penaits and Post Office Receipts,

as shown by Sheet 1 of the printed pages.

4 2 f the Prtttt;ed P3#03 sh0W3 that Dallas stands firstin the Cities of Texas as a manufacturing center, and Port Worth fourth.

Special attention is called to Sheets 3 and 4, showing cotton production and farm animals in the respective counties of Dallas and Tarrant.

r , ^ ^ P0St 0ff*ce receiPts of Dallas for the year ending -and 3, 2.. 13, v/ere yl,002,023.42, as against the official figuresS T , * * ! ^ . J 377*450*94* A3 shown by the Mercantile Agencies,Dallas has 318 jobbing houses, 57 of which have a rating of .4,000.000

r ^ er*a* Port Worth has only 123 jobbing houses, of which only 12 are rated at #1,000,000 and over.

-ACCESSIBILITY TO PROPOSED TERRITORY

Dallas and Port Worth are 36 miles apart. Port Worth has - sn railways, and Dallas has 14, as shown by the

c o w ^ t h f J n G\ S; J^?xwel:L attach,!d hereto, and by photographic f{ f t A oifieial Railroad and County map of the State of Texas,

* ath f Henly D0rsey Vice-President


- 2-Attention is particularly called to sheet 5 of the

printed page, enclosed, showing that Dallas County has 301.29 miles of steam railroads, whereas Tarrant County has only 287.71 miles. Attached hereto are the official railroad time tables of the two cities, clipped from their res ective daily papers, and the most careful comparison of the same is invited.

The certificate is attached from Hon. B. M. Burgher,Post Master, of Dallas, showing 137 incoming, and 176 outgoing, mail dispatches for Dallas.

Attention is particuarly called to the fact, and is shown on sheet 6 of the printed pages, that Dallas is nearer the center of the black land district of Texas, and consequently nearer than Port Worth to the center of population of Texas, and ia also nearer than Fort Worth to the center of the Banks, as determined both by number and by banking resources. The two cities are equally distant from the Banks in Oklahoma, but if the 36 miles distance between the two cities is of consequence in considering the accessibility to the other contiguous States, it should be remembered that there are only 40 national Banks in Hew Mexico, whereas there are 31 National Banks in Louisiana, and 50 Banks in Arkansas; so that, whereas Fort Worth would be 36 miles nearer the 40 Banks in New Mexico, Dallas is 36 miles nearer the 81 Banks in Louisiana and Arkansas.

As shown on page 7 of the printed Book of Facts, Dallas is the Southwestern headquarters for the Western Union, Postal and Maekay Telegraph Companies, and the Southwestern (Bell) Telephone Company. Attached hereto is a certificate from the Vice-President of the latter, showing that Dallas 25,978 telephone connections, and Fort Worth only 14,563, and 159 long distance toll circuits, against 105 respedtively.

Attention is particularly called to the fact that the trade territory conceded to Fort Worth by all competent authorites lies in that Western border of Texas, embracing all of the arid areas of the State, vhereas that of Dallas consists of the populous and productive areas, and the claims of Fort Worth of superior railroad facilities is altogether discounted by the fact that to a large extent the roads radiating from Fort Worth, both in number and in mileage, traverse vast distances of Northwestern, Western and Southwestern Texas, making connections with interstate lines, which do not primarily serve the proposed district.

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5 V


f \

Supplement to"Book of Facts"

REASONS FOR LOCATING REGIONAL RESERVE BAIJK

Tho Roservo Bank Organization Ccffrnittae,

Washington, D.C.

-- iA,

Gentlemen:

This r-Book o f Res sons'* ic a supplement to tho Dallas

Bock of Facts" submitted at your meeting in Austin, Texas. It

aim ia to point out the significance of some of the facts sub

mitted at that hearing by the Texas C ities ?md to present remsons

supported by thus fact why Texas is entitled a o f right to

h* vs a regional bunk.

!

THE NUMBER OF The fact that the minimum number o f banks was fixedBANKS TO BEFORMED. at eight was a victory for tho docentralization idea. The

zinnia argument wa based us much upon p o lit ica l as economic

conco tions. The soundness o f the economic theory is debatable,

but tho correctness of the p o lit ica l theory is incontrovertible

At a ll events, the facte that at least eight bank

are mandatory, that a margin for discretionary increase up to

f i f t y per cent is provided, and that regionality is an essen

t ia l feature of the law, show clearly that Congress intended

(subject to the lim itations in the law i t s e l f ) to put a bank in

eaoh region where there? is business enough and funds ehough to

support i t , and where to refuse i t would leave d istr ic ts so

large as to be contrary to the reglonality theory, or productive

of such discontent and fr ic tion as to Imp ir the success o f the

system*

These considerations justify at lea. t ten banks lo -

.. f f ;

- 2-

oatad as follows: Massachusetts, Hew Ycr, Pennsylvania, Geor-

gift* Ohio, I llin o is , Missouri, Texas, Minnesota and California*

I f two of this group be eliminated so as arb itrarily to reduce

the number to eight, those eliminated should be Ohio, which can

so readily be attached in fractions, on as an entirety, to its

surrounding d istric ts , and Minnesota which belongs logically to


......... -

Chicago*

The circumstances requiring the above grouping are

that In each of these areas existing financial and commercial

connections are found which would be less disturbed by imch

grouping than to any other relationship, and at the same time

districts neither too large nor too small would be created.

In each*of these areas there happens to be a city

which M s already its financial and commercial center. Given a

certain d istrict the selection of a certain city is inevitable.

The d istrict it s e lf has already pointed it out by currents of

trade which flow into i t . The cities referred to are Boston,

Hew York, Philadelphia, Atlanta, Cleveland, Chicago, St. 3.ouist

Dallas, Minneapolis and San Francisco.

To locate the minimum number of banks now with an

eye to the future increase is unvise because suoh a process in-'

volves a further disturbance in the future. It is like break

ing a leg twice in the same place. It Is to be hoped that the

country w ill be bo districted now that the only changes neeued

in the future w ill be along the borders of logical and regionally

located d istricts* In such a border zone lines must of necessity

bo somewhat arbitrary, and it may be foutd necessary at times

to readjust them*


-3-

I Ph

BRANCH An illo g ic a l contention has been made in someBANKS.

c it ies that the number of regional banks should be low

and the number of branches correspondingly high* The assumption

is made that a branch bank w ill have a ll o f the functions and

usefulness of a regional bank* It is urged that a branch tank

at a particular point w ill be .just as useful to the subdivision

of the d is tr ic t which is related to the branch bank as the re

gional bank would be.

As stated, such a contention is illftg ica i:

1. I f correct, there should be one central bank at

flew York or Washington and a ll other banks should be branches.

I f a branch bank is as good for Balias or Philadelphia as a

regional bank, why is i t not as good for New York, Chicago or

San Francisco?

2. It arb itrarily builds up remote c ities at the expense

of the lo ca lit ie s which produce wealth and which should be per

mitted to keep i t and use i t for their o m development.

3. Business of 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. I t stirs up a sp ir it o f i l l w ill to the system i t

se lf by forcing support to the governmental project along un

natural lines.

I t is inconceivable that a branch bank should have

a ll the powers o f a regional bank i t s e l f . No system providing

for branch banks has ever been so organized. I f each branch

and also the regional bank had co-equal control over the common

funds, the common policy, the common operations and the common

cradit, tv , and would be easy to imagine, i t is indispensable


that the parent hank shall have control over a l l of these opera-


,3P,.......

territory claimed "by St. Louis, the enlarged d is tr ic t would em

brace approximately onethird of the tota l area of the United

States) I

One-twelfth of the population of the United States

(the increase during the last decade being 39%).

One-eighth of the national banks of the United States.

One-tenth o f the State banks of the United States

(the number of tota l banks increased in the last fourteen years

454$).

One-seventh of the total farm production o f the United

States (#1,000,128,597).

Two-fifths of cotton production of the United States

(|381,132,400).

Four-ninths of total cotton seed production of the

i United States ( $547,855,5c)) .

One-tenth of liv e stock production (#205,224,132).

One-half o f cotton exports ($253,020,000).

One-eighth of the tota l exports o f the United States.

,/ith the exception o f some territory in the extreme

western and southern portions o f the d is tr ic t and a small area

-g in Southwestern Louisiana, evexypoint in the d is tr ic t is with

in twelve hours mail service o f Dallas, and those remote por

tions of the territory are within closer mail service to Texas

c ities than any other city which has been under consideration

as a location for a regional bank.

2. It would capitalise a bank moro than f i f t y per cent

above the law s requirements ($6,421,949) even i f no State bank

came in, and with the deposits of reserves which the law re

quires, its resources would enable i t to meet a ll legitimate

demands in ordinary times.


For eight months in every year a regional tank in

this d istrict would have money to loan; for twelve months in an

ordinary year it could take care of its own member hanks and

have money le f t . During tba exceptional year (1913) just p&Bt

it could at the peak of its advances to member banks have financed

it s e lf . I f , however, under extraordinary stress it should need

to rediscount the receivables of member banks to a small extent

with other regional banks, or to issue emergency currenoy, it

would simply be making use of these features of e lasticity which

have been advertised as among the chief excellencies of the new

banking law.

I f the Texas regional bank should be a lender bank

eight months out of every year and twelvo months out of an or-itdinary year, why should not every four months during an occas

sional extraordinary year be a borrower or note issuing bank?

Its condition would be no bettered by being put

with Kansas City, St. Louis or flew Orleans, for it appears

from a study of the bank reports of October El, 1913 of the ter

ritory that is included in the St. Louis claims, that taking

banks as a whole over that area a ll individual deposits were at

low ebb and banks in both St. Louis and Kansas City were borrow

ing money just as the banks in the Texas d istrict were doing.St.Louis and

The unassailable fact is and Kansas City w ill not

dispute i t -that when Texas needs money to move its crops, its

banks cannot borrow money in any considerable quantities, in

either St. Louis or Kansas City and must go to Chisago or to

the Atlantic seaboard. Balances.are kept in .St Louis now, not

in order to secure loans there in time of need, nor because

trade sets that way, but in order to secure exchange fa c ilit ie s

and provide means for making collections at par.


............... - - - --------------- ------------------ ->-....

*Y**

The rediscounts and b i l ls payable in the d istrict-

Texas has defined were $23,000,000 at the peek of the heaviest

demand o f 1913. How much duplication or pyramiding was in this

sum it is not easy to sayt but da shown at page 9 of the Dallas

"Book of Facts", more than three-fifths of the amount could

have been absorbed by the reduction in the percentages of re

serve which are provided for under the new lew. The national

banbs in the territory would have had $15,000,000 more of loan

able funds at that time i f the present law bad then been in

force, leaving only $8,000,000 to be taken care of by the re

gional bank* Its available funds for that purpose would have

been far in excess of these demands*

I f the new law is simply going to provide new

machinery (perhaps more complex than the old) for doing what

is already being well done under the existing banking system,

its importance and efficiency has been vastly exaggerated. We

do not believe it is so limited in function* *ve think it was.

intended to provide elasticity and a means for equalising sea

sonal inequalities; to relievo strain where strain has been

great under the old system* It is , however, going to be a

handicap instead of an advantage i f it s effect w ill be nor

mally to restrict Texas banka or banka in any other single

d istrict to their regional bank and affect their epen market

connections. I f it is going to be thought a crime, or even

bad banking, for one regional bank to use the surplus funds of

another at one season, and to render the -same service tes

another bank at another season, the law w ill prove to be ab

surdly inadequate.

Moreover, why should it be thought inevitable that

tho member bonks - i l l deal only with the regional bank when


SJKE-

wanting to borrow mono*? Eo one doubts that banks which now

have resourcea beyond their local needs w ill continue to lend

that money to other banka to meet seasonable requirements* I f

the new law la to create in the government a monopoly o f the

business o f loaning money to national banks to meet their sea

sonable requirements, i t has not been so advertised. Member

banka w ill o f course maintain their legal reserve with the re

gional banks, but they w ill deposit as in the past surplus

fuids with other banks, receiving interest on daily balances

and having constant transactions in the borrowing and loaning

o f money as heretofore.

55 The v i r i l i t y o f ths southwest i f encouraged and

furnished an opportunity for independent exercise, w ill do

a constructive work in that rapidly growing section which

w ill benefit the entire nation. I f repressed its work u i l l be

smaller, less v ita l and less profitable to the nation*

The attitude o f Texas on the matter o f its being

made an appendage o f St. Louis or any o f the other c it ies named

may be called a sentimental one, but such a criticism docs not

moot our contention* The geographical outlines o f Texas, her

p o lit ica l history, the surpassing loyalty o f her citizens and

their abounding patriotism; her astounding development and

eventual destiny and place In the national l i f e have built

up a reliant independence that w ill be peculiarly offended,

i f a fter i t has supported its claims as strongly as I t has, i t

should be bound in a subordinate relationship to another com

munity having lees banking capital, less commercial resources,

less present and future prospects than i t has.

So-called sentiment has played & great part in

the material as well as in the moral aspects o f our c *v iliza -

-8 -

Reproduced from the Unclassified I / Declassified Holdings of the National Archives

tlon: It launched the Crusades, it organized the Beforna-

tion, i t colonized America, it fought the Revolution, it made

Texas a Republic and afterwards brought it into the Union; it

is today making it the most unique State in the Union, and one

whose probable future staggers the imagination.

4. Texas is not tributary to any of the three c ities

named, but is se lf-su ffic ien t and independent of them. We

might lay Hew Orleans out of the case, for there is no flow

of business of moment to i t . Kansas City before the day of

the development of the implement business in Pallas and the

grain and packing business in Fort *orth, bad some business

with Texas. This is now negligib le. The business connections*

of twenty and even ten years ago with St* Louis are no long

er in existence.In its stead there isa business in certain

lines like shoes, beer and hardware. The Texas cities have

become markets for the Texas re ta iler and consumer. The whole

saler in Texas buys from the same factories the St. Louis

wholesalers buy from and in some linos in much larger quanti

ties . The banking connection is small and would be less,

but for the a r t if ic ia l requirements of the old banking law,

which gave St. Louis an unnatural advantage over Texas C ities,

against which unnatural,advantage we now so earnestly pro-

teesfc. Freight into Texas comes by the Gulf Seaboard and

can reach as far north as Middle Oklahoma on local reship-

meiita on a competitive basis with St. Louis. Pallas alone

has a wholesale business with the proposed d istrict of V

$211,000,000, to say nothing of the enormous aggregate &^ >neS X

by other Texas c itie s . Pallas business alone during the last! S

three years has grown at the rate cf nearly 20$ annuallyV


> *

I t is not surprising that St. Louis is asking

this Committee to allow i t to retain its a r t i f ic ia l advantage

over Texas, hut i t w ill he supremely disappointing to Texas i f

this Committee beads the request. The claim of St. Louis to

an important and v ita l relationship with the welfare o f the

southwest w ill not stand the acid test.

5. The distance to Texas from a regional hank

located in either of the c it ies named would greatly diminish

the value of the system to Texas. We need pay no attention

to New Orleans or Kansas City in this connection, hut w ill

confine ourselves to St. Louis; that c ity is twenty four

hours distant from the average north Texas points, th irty-s ix

hours distant from the average south To as points, and forty

eight hours distant from the extreme western end southern

Texas. A hanker in Houston would need fallowing one business

day in St. Louis) four nights and three days to go to a re

gional hank in St. Louis to discuss a matter of business with

i t , in case the need for discussion arises as might readily

he the case upon his rediscount offerings. His expenses would

he at least $75.00; be would travel over two thousand miles.

His case would not he an extreme one. He is 250 miles nearer

St. Louis than a Brownsville hanker w ill he, and about the

same distance many other important Texas points are. Ha

would travel more than a hanker going from St. Louis to Boston

or from New York to Jacksonville or from Chicago to Dallas.

Such remoteness would inevitably result in

ignorance on the part c f the directors of the regional hank of

local conditions. In consequence credits would not he so

in te lligen tly considered and delays and fr ic tion would cer

tainly result. Even i f Texas bad a director on the hoard of

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-"jay ___

- l i

the regional bank, he would be but one man against many*

IV*

TERRITORY IN 1* A ll of Texas is demanding that a bank be placedTKXAS DIS

TRICT* in Texas except that at 31 ?aao9 "fcifi desire la sub

ordinated to a wish that Bl Paso be kept with New Mexico andits

Arlsona$ that is with trade territory in no totter what dis

tr ic t that territory be placed* In any case Eh Paco wants

a branch bank, and with that arrangement New Mexico and

Arizona are content* tfith a branch bank at 31 Paso New Mexi

co and Arizona oan be as well served aa their remote situa

tion and scattered inhabitancy w ill permit under the terms

of the law* In the absence of a bank at Denver, a branch

baa* at 31 Paso would be more logically added to the

regional bank in Texas than elsewhere, and should Denver/

bo hereafter given a bank, the 31 Paso Branch could be

bodily transferred to that bank without any other disturbance

and without impairing the ab ility of the remaining Texas dis

tr ic t to capitalise and support a bonk* Texas trade rela

tions with the Pecos* Valley in Hew Mexico ore respectable*

31 Paso only, among Texas c ities, however, has close re la

tions with the remainder of New Mexico and her relationship

to New Mexico and Arizona Justify the inclusion of that* ter

ritory in the 31 Paso branch* It is to be noted, however,

that Texas did not include Arizona in her proposed d istrict

and tha$ it oan dispense i f necessary with 31 Paso and Now

Mexico *

2, The physical situation of Now Mexico has been

explained; i f it and .Arizona want to go into the branch

bsitk d istrict of 31 Paso and that city can fa ir ly serve them

__________ . . .. _......JL____________i


kjse.

-1B-

they appear to he quite content to become part of,any d istrict

to which El Paso nay be attached. No violence therefore

w ill bo done, either to their wishes or their trade connec

tion* f toy including then In the Texas d istrict*

3* I f a regional bank were put in New Orleans, the

portion of Louisiana which Texas claims would prefer to go

into the New Orleans d istrict* rfithoxit a regional hank in

New Orleans and with one at Balias, certainly a l l of north /1 1 ;

Louisiana and perhaps more of its area, would prefer the Tex

as hanJc over the Atlanta or St* Louis* It already trades

largely to Texaa; that trade to tocreaal g and has proved that

Texas points oouia serve that portion of the d istrict*

4* Under established conditions Southwestern Arkan

sas se lls its cotton, its vegetables, its fru it , largely in

Texas* Perhaps more of it s general business is done in bt*

Louis; i t would doubtless prefer St* Louis* However. It is

closer to Texas than to St* Louis; i t could toe hotter served

from Texas; no violence to its business would toe done toy

putting this southwestern area with the Texas D istrict*

5. Southern Oklahoma is identified with Texas in

every way* Texas people settled it up; Texas buys its cot

ton; her cattle grasses its ranges; Texas buys its stock; its

gae. its o il and its lumber* Northern Oklahoma is divided,

a part preferring Kansas City, a part preferring St* Louis*

Texas is closer to i t . however, in every way and con serve it

better than any other State*

No doubt there are many people in Louisiana,

southwestern Arkansas and Oklahoma who would prefer not to

toe put in the district with Texas c ities* 2bero are many,

however, who favor the Texas d istrict* borne violence must


be done, for manifestly this Committee cannot please those

holding ouch opposing views. She nearest possible reconcil-

ment i f the endeavor is to be made to please everybodywould

be to put southern Oklahoma with the Texas d is tr ic t and north

ern Oklahoma with the St. Louis d is tr ic t, assuming o f oourse

that no bank is to be put at Kansas City.

It is certainly true that less violence w ill be

done the wishes of the communities mentioned by such an

alignment than would be done to a ll of Texas i f the St. Louis

plan is followed by this Committee. Texas does not want to

be made a part o f the St. Louis d is tr ic t. I f i t is made a

part of that d is tr ic t i t w ill be done over its protest and

against its w i l l . I f St. Louis can seriously propose to

take Texas by force, although Texas is larger, richer, more

prosperous, has more banking capital, produces more, Texas

ought not to be critic ized for asking that its territory

include areas whose inhabitants are divided in opinion.

Necessarily as the boundaries o f d istr ic ts are 6 dnear debatable territory is reached; differences of opinion

in such territory are inevitable. Texas can, however, stand

alone in her application for a regional bank; strip o f f a ll

the outside territory and Texas can s t i l l stand for i t s e l f ana

show its t i t le to a bank.

V.

TUI2 ARGUMENT OF When a d is tr ic t can abundantly qualify now, its FUTURE GROWTH.

probable future should be considered by this Committee

! as reason for or against giving i t a bank. With a population

increase in the last census decade o f 39$, a cultivated area

increase o f 46.5$; production of firm crops increase 88.9$,l.


'

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and in the last fourteen years an increase in the number of banks

of 454$, and an increase in their capital and surplus of 510$,

there exists no Justification for ignoring this feature o f her

appeal to this Committee.

VI.

POLITICAL Tho matter o f locating regional banks is not primarilyCOHSHMSRA-tions* nor even principally a p o lit ic a l question* Bvery Govern

mental faculty, however, has a p o lit ica l element and every

governmental agency a p o lit ica l phase. No system o f banking

w ill lonp- succeed which does violence to the wishes of a great

fraction of the people o f this country. Such p o lit ic a l con

siderations as a ffect this feature of the problem are there

fore o f an entirely proper character for consideration by

this Committee. They enter into the consideration of the B ill

i t s e l ff The diverse contentions o f people of varying opin

ions strengthen i t in some respects, weaken i t in others, but

^ are allowed of necessity to a ffect the situation because in

this country the people make the laws under which they l iv e .

I t I t rarely possible to attain the ideal in coxy

leg is lation that attracts during its consideration fees as

well as friends. The reason for this is that leg islators

must take into consideration the wishes o f their constituents*

The Currency B ill when under consideration attracted

to its support those who believed that the present administra

tion would locate the banks regionally. In other words, those

who thought that the old order was passing and that in its

place was coming a new order. Those communities already bar

ricaded behind the money furnished by the rest o f the coun

try wanted no such b il l* These other communities who


apu-

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for f i f t y years had suffered under a law which forced them to

furnish to remote c it ie s the f ir s t fru its o f their increase,

were for i t because in i t they hoped to find r e l ie f . Texas

has been to the fore in this move me nt for the new freedom.

It enlisted early end enlisted for the war; i t asks no undue

consideration in this matter on that account. I t doas not

so cheaply state its reasons for adherence to the great

oause. I t does fe e l, however, that these things give i t stand

ing to protest against a new injustice being done to i t . It

claims the benefit o f any doubt * I t does not want to deprive

St. Louis o f a bank. One ought to be put in St. Louis, but

Texas claims the same independence for i t s e l f . After f i f t y

years o f tribute she asks for freedom; she can stand alone.

She can make her banks succeed. There can be no such thing

as a lame bank under this system i f the law is applied accord

ing to its intent. The rediscounting power, the note issuing

power, the confidence the people w ill have in the new system

w ill standardize a ll the un ts* Texas claims her commercial

independence as of right and makes^aim to an administration

peculiarly pledged to a governmental policy of liberation .

DALLAS CLEARING HOUSE ASSOCIATION DALLAS CHAMBER OF COMMERCE DALLAS COTTON EXCHANGE

SPECIAL COMMITTEE

By JOHN W. WRIGHT,Banker,Chairman

( J. Howard Ardrey,Banker ( M.H.Wolfe, Cotton Broker ( Edgar L. Flippen, Manufacturer ( Louis L ipsitz, Wholesaler ( A.M.Matson Wholesaler( Rhodes S. Baker, Attorney


THE AMERICAN AUDIT COMPANYS T E N O G R A P H IC A N D T Y P E W R IT IN G D E P A R T M E N T

THE WALDORF-ASTORIA N E W Y O R K

TO TH E RESERVE B A N K 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 are pleased to present you h erew ith , facts in regard to Dallas and th e ^reat

Sou thw est, in d ica tin g the need fo r a Federa l Reserve Bank here.

Our a rgu m en t is p a rticu la r ly developed fo r the C ity o f D allas; the la rgest c ity

west o f th e M ississipp i R iver and south o f th e M issouri, w ith unexcelled ra ilroad

fa c ilit ie s and m a il service; th e te legraph , te lephon e and express d eve lopm en t ran k in g

w ith the seven la rgest c ities in the U n ited States. W e present fo r you r d istingu ished

con sid era tion a c ity now the acknow ledged m arket o f the Sou thw est, the d is tr ib u tin g

and fin an c ia l cen ter o f th is m ost progressive and rap id ly deve lop in g section o f the

U n ited States.

T h e te r r ito ry tr ib u ta ry to th is c ity and to be m ost lo g ica lly served fro m Dallas

is a ll o f Texas, a ll o f O k lahom a, a ll o f N ew M exico, th a t part o f Lou is ian a (86% ) west

o f th e M ississipp i R iver, and th a t part o f Arkansas (45% ) sou th and west o f th e

Arkansas R iver ; a te r r ito ry th a t w ill p rovide am ple cap ita l and deposits in a Federa l

Reserve Bank estab lished h ere; care fo r the needs o f th e te r r ito ry ; accom p lish the

ends sou gh t in the Federa l Reserve A c t and m ake possible the so lu tion o f the finan cia l

p rob lem s o f th is section .

W e present our a rgu m en t in th e sincere desire to co-opera te fo r the success o f

th e law wherever R eg ion a l Banks m ay be p laced. W e resp ec tfu lly request con sid

era tion and are pleased to have th is op p ortu n ity o f p resen ting our views.

R esp ec tfu lly yours,

D A L L A S C H A M B E R OF C O M M E R G E ,

By C. W. Hobson, P res iden t.

D A L L A S C L E A R IN G HOUSE A S S O C IA T IO N ,

By R. H. S tew art, P res iden t.

D A L L A S C O T T O N E X C H A N G E ,

By S. W. K in ^ , Jr., P res iden t.

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Ojb tLows

Orleans

D/seance & U. A Ma /l s e r v ic e FROM DALLAS

Natural Boundaries.

South and W est Sou th and East N o rth and East N o rth -

M exico and the Gulf.M ississipp i R iver.Arkansas R iver.S tate L in e o f O k lahom a and N ew M exico.

Th is d istrict is set apart and designated by the Railroads and approved by the In terstate Com merce Commission as the Southwestern Traffic C om m ittee Territory.

THE GEOGRAPHY OF THE TERRITORY.

The U. S. Census D ep artm en t has always classified Texas, O k lahom a, Arkansas and Lou isiana as the W est South G entra l G eograph ic D ivision . Th is is one o f the n ine subdivisions m ade on account o f the corre la tion o f its industries, the h om o^ en ity o f its peop le, the in terdepen den ce o f its in s titu tion s . Set off by na tu ra l boundaries, i t slopes fro m the m ou n ta in s o f New M exico eastw ard 1152 m iles to the M ississippi. F rom B row nsville on the R io G rande 871 m iles n orth to the Kansas line.

Its w h ite p opu la tion is 22% greater th an M ississippi, A labam a, G eorgia , F lo rida and South G arolina com b ined .

The U. S. G overn m en t reports o f 1910 show ing its to ta l w ea lth to be 37% greater th an the com b in ed w ea lth o f these five old and developed States.

Show ing d ivers ity o f p rodu ction and i f a balanced te rr ito ry is desired, note th a t to ta l annual p rodu ction in the T e rr ito ry is $1,759,138,149.00, d iv ided as fo llow s:

ANNUAL PRODUCTION: DEMAND FOR M ONEY:

Factory - - - - - - - $685,506,000 U n ifo rm .G otton - - - - - - - - 381,132,000 Four m onths.L ive Stock - 205,224,132 U n ifo rm .Corn - - - - - - - - - 175,899,000 G onsum ed on Farm .M inera ls - - - - - - - - 73,501,000 U n ifo rm .M iscellaneous Grops - - - - 237,886,017/Each ba lancing the other,

(W h eat, Oats, Hay, Vegetab les, F ru it, Etc./ m ak ing u n ifo rm dem and.

U. S. Government Census has Bounded and Designated the Territory.

White Population Greater than Balance Whole South.

Wealth Greater than Balance Whole South.

Balanced District. Demand for Money Uniform During the Year.

PHOTOGBAPII COPY U. S. CENSUS MAP SHOWING GEOGBAPIIIC DIVISION.

~E

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CONDENSED FACTS ABOUT THE TERRITORY.

17.4% o f the A R E A o f the U n ited States.[517,584 Sq. M iles.]

8.3% o f th e P O P U L A T IO N o f the U n ited States. [7,668,436.]

12.6% o f the N a tion a l Banks o f th e U n ited States.[943.]

10.2% o f the S tate Banks o f the U n ited States.[1816.]

13.9% o f the A n nu a l Farm P rod u ction o f the U n ited States. [$1,000,128,597.00.] 12 Crops onlvr

41.8% o f the A n n u a l G otton P rod u ction o f the U n ited States. [$381,132,400.00.]

44.5% o f the A n nu a l G otton Seed P rod u ction o f the U n ited States. [$54,785,550.00.]

9.7% o f the A n nu a l L ive Stock P rod u ction o f the U n ited States. [$205,224,132.00.]

48.8% o f the A n n u a l G otton Exports o f the U n ited States. [$253,020,000.00.] 4 ,17 OOO Bale*?

12.6% of the A n n u a l T o ta l Exports o f the U n ited States. [$218,146,097.00.] Galve-Slon Otilv

Banking C ap ita l and Surplus /National, $108,400,635.13 /State, 69,673,845.61

$178,074,480.74

W h ich w ou ld fu rn ish a Reserve Bank w ith a G ap ita l o f $10,684,468.80.

Annual Farm , Factory and Mineral Production $1,759,138,149.00.

TH E PROPOSED SOUTHW ESTERN D IS T R IC T HAS PERCENTAGE OF THE

WHOLE U N ITED STATES AS FOLLOW S.

KO ^O C'l fH rH oCM OffO

4

50%

THE GROWTH OF THE TERRITORY.

P op u la tion 1900 to 1910 - Increased 39 %.Acres in C u ltiva tion 1900 to 1910 _ _ _ _ _ _ Increased 46.5%.P rod u ction o f F a rm Crops 1900 to 1910 - Increased 88.9%.N u m ber o f Banks 1900 to 1914 - _ _ _ _ _ _ Increased 454 %.C ap ita l and Surplus o f Banks 1900 to 1914 - Increased 510 %.

On th is 18.6% o f A rab le Land under C u ltiva tion is now produced 13.9% o f the en tire crop p rodu ction o f the U. S. Th is te rr ito ry is increasing its p rodu ction at the ra te o f $88,900,000 per year.

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 - - - 32% New Mexico - 68.1%Oklahoma - - 106.7% Arkansas - - 23.8%

Louisiana - - 23.1%

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--------Reproduced from the Unclassified / Declassified Holdings of the National Archives

V

CONDENSED FACTS ABOUT THE TERRITORY17.4 .# OF THE A R E A OF T H E U N IT E D STAT E 5 [517 5 8 4 SQ.M L]8 .3 # OF-THE POPULATIONOFTHE U N ITED .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 ]1 3 .9 # OFTHE ANNUAL FARM PRODUCTION OF I HE _ \ "ED 5 !'A "rS j$!.000.41.'8% OFTHEANNUAL(0TTON PRODUCTION OFTHE UNITEDSTATES [$ 3 8 L 132,400.00] 44.5$0FTHEANNUAL(OTTON SEED PRODUCTION OFTHE UNITED STATES [$54 ,765550.00] 9 . 7 # OF THE ANNUAL LIVE STOCK PRODUCTION OF THE UNITED STATES [$ 2 0 5 224,132.00 I 4 8.8$0FTHEANNUAL COTTON EXPORTS OFTHE UNITED STATES [4217000, BALES]1 2 .6 # O.FTHEANNIAL TOTAL EXPORTS OF THE UNITED STATES [$218,146,09700] GALVESTON O N LY . BANKING [APITALAND SURPLUS f ^ NAL

SI 78,074.480.74

WHICH WOULD FURNISHARESERVEBa NKWITH a CAPITALOF $10,684,468.80.ANNUAL FARM, FACTORYAND MINERAL PRODUCTION $1,739,138,149.00

W it h i24582

Pa r c e i

$1,166/Ba n k s

WlTHII

47.4/1B u t 2

,~-J^7iNFiELDMOLEMUE

Kansas city3T LOUIS.

y?tFa yetteville

I

1

i .LITTLE ROCk-

DALLASiBOYY^RE)^

~w Orleans

W it h in io d m il e s o fDa l l a s t h e r e a r e i,4841 peo ple which is

24582 MORE THAN THERE ARE WITHIN I00 Ml LET OF KANSAS C IT Y

Pa r c e l Rost Z one 2; Population 2,623202.v a lu e Pa r m Lands

J 1,166,743,688 WHICH IS MORE THAN THE 0MBINED CAPITAL OFALLTHEBa n k s a n d T rust Cos in t h e U.S.

W ITH IN 200 MILES OF DALLAS THERE ARE 3 6 3 1 0 6 3 PEOPLE WHICH IS414/ o f t h e Population ofthe proposed district w h il e h a v in gB U T 2 0 .3 A OF THE TOTAL A R E A

A ^ j f i ' ---- ------------- A L L POINTS OH THIS LINE ARE EQUIDISTANTi _ / ) ------------

~~~~s _BY RAIL FROM DALLA5AND 5T LOUIS

OCAUO *0 110 *0

--+-

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DALLAS FACILITIES IN REACHING THE TERRITORY

N in e T ru n k L in e Railroads rad ia tin g in tw en ty-seven d iffe ren t d irections w ith 91 D a ily Passenger T ra in s : C h icago, R ock Is land Sc G u lf R y .;G u lf, G olorado Sc Santa Fe R y . ; St. Lou is, San Francisco Sc Texas R y .; H ou ston Sc Texas G entra l R a ilroad ; M issouri, Kansas Sc Texas R y. o f Texas; St. Lou is, Sou th w estern Ry. o f Texas; Texas Sc N ew O rleans R a ilroad ; T r in ity Sc Brazos V a lley R y . ; Texas Sc Pacific Ry.

F ive E lectric In te ru rb an R ailroads rad ia tin g in seven d iffe ren t d irections w ith 156 D a ily T ra ins, h an d lin g 4,000,000 passengers an n u a lly : N o rth ern Texas T ra c tion Go.; Sou th ern T ra c t io n Go.; Texas T ra c tion Go.; Eastern T ra c t io n Go.; D allas-G orsicana T ra c tion Go.

Dallas has H eadquarters and G enera l O ffices fo r the Sou thw est o f the W estern U n ion , Posta l and M nckey T e legraph G om panies w ith 262 circu its, h an d lin g 18,497,300 te leg ram s per year. D allas ranks sixth in the U n ited States in to ta l vo lu m e o f business.

t

Dallas has H eadquarters and G enera l O ffices for the Sou thw est o f the S. W. T e leph on e (B e ll) C om pany, w ith 159 T o ll C ircu its, o r ig in a tin g 554,000 lon^ d istance calls per year, increasing at the ra te o f 50,000 calls per year. 2924 T o ll S ta tion s operated fro m Dallas as h ea d quarters. 643 tow ns served fro m Dallas on 50c ra te ; 169 on 25c ra te . 15.9% o f all the Te leph ones in Texas are in Dallas.

Dallas has the Largest T e leph on e D eve lopm en t per cap ita o f any c ity in the U n ited States.

A ll Express G om panies opera ting in the T e rr ito ry have H eadquarters

at Dallas.O n ly six c ities in the U n ited States have a la rger vo lu m e o f Express

B usiness th an Dallas.Dallas has M ore Express Business per cap ita th an any c ity in the U n ited

States.

Dallas has 176 M a il R eceip ts and 137 M a il D ispatches daily .

Dallas has 111 D aily Exchanges o f M a il Pouches d irect w ith tow ns in Texas. D allas has 65 D aily M a il D ispatches to ra ilw ay post offices. Dallas has 80 D a ily R eceip ts o f Pouches d irec t to Dallas fro m other Texas c ities. D allas has 57 M a il R eceip ts da ily fro m ra ilw ay post o ffice lines, exclusive o f the 80 D irect R eceip ts fro m Texas. In reach in g te rr ito ry ou tside o f Texas, Dallas has 57 R ece ip ts o f M n il and 65 D ispatches o f M a il da ily .

W h ile D allas is the 54th c ity in size its Posta l R eceip ts are 33d in vo lum e, and as m uch as any tw o c ities in the T e rr ito ry com b in ed .

Nine Trunk Line

Railroads

FiveInterurbanRailroads

Dallas6tli City in U. S. in

Telegraph Business

Headquarters of Bell Telephone

for the Southwest

Dallas7tli City in U. S. in

ExpressBusiness

PostalFacilities

7

ABSTRACT OF REPORTS OF NATIONAL BANKS IN STATES NAMED.

C overing Item s In d ica ted , as m ade to the C om ptro lle r , O ctober 21, 1913.

(M a x im u m B orrow ing Period o f D is tr ic t.)

Individual Re-discounts,Territorjr m No. Capital. ' Surplus. Deposits. Bills Payable.

Texas - - 486 $34,024,000.00 $17,881,429.06 $129,329,373.36 $12,007,954.70Reserve Cities5 " 33 16,475,000.00 7,992,500.00 73,737,105.77 4,080,223.06O k lahom a - - 315 12,185,000.00 3,274,006.67 59,745,818.30 1,903,422.00Reserve Cities 5 - 11 2,200,000.00 662,000.00 12,417,025.13 425,000.00N ew M exico - 40 2,215,000.00 996,900.00 14,383,713.82 332,000.00Lou isiana (W est o f M iss.

R iver ) - 26 3,020,000.00 2,351,365.83 13,711,068.97 3,183,835.89Arkansas (Sou th o f Ark .

R iver ) - - 32 2,671,320.00 1,083,971.70 9,374,828.94 1,368,002.91G ountry Banks - - 899 54,115,320.00 25,587,673.26 226,544,803.39 18,795,215.57Reserve G ities - 44 18,675,000.00 8,654,500.00 86,154,130.90 4,505,223.06

T o ta l - - 943 $72,790,320.00 $34,242,173.26 $312,698,934.29 $23,300,438.63

*4

OPERATION OF FEDERAL RESERVE RANK.T

(N a t io n a l Banks A lon e .)

(1) G om bined C ap ita l and Surplus o f N a tio n a l Banks $107,032,493.00 @ 6% yieldsG A P IT A L o f Reserve Bank - - - - - - - - - - - - - $6,421,949.00

(2) Reserve o f C ou n try Banks on $226,544,803.00 In d iv id u a l Deposits@ 8 % yields D E P O S I T S ...................................................................... $18,123,520.00

(3) Reserve o f Reserve G ity Banks on $86,154,130.00 In d iv id u a l D eposits@ 10% yields D E P O S I T S ...................................................................... 8,615,413.00

(4) T O T A L D E PO S ITS of Reserve Bank - - - - $26,738,933.00

(5) Less Reserve @ 35% o f D e p o s i t s ................................ 9,358,627.00 $17,380,306.00

(6) T o ta l Loan ab le Funds o f Reserve Bank - - - - - - - $23,802,255.00

(7) M ax im u m of B ills Payab le and R e-d iscou n ts shown on opposite pa^e, $23,300,438.00

(8) D educt 3% o f $226,544,803.00 C ou n try Bank Deposits, $6,796,344.00

(9) D educt 10% o f $ 86,154,130.00 Reserve G ity BankD e p o s i t s .............................................................................. $8,615,413.00 $15,411,757.00 $ 7,888,681.00

E X C E S S ...................................................................... $15,913,574.00

IT h e dedu ctions o f Item s (8) and (9) are w arran ted by provisions o f b ill w h ich reduce reserves to be

held by C ou n try Banks fro m 15% to 12%, and by Reserve G ity Banks fro m 25% to 15%, th ereby in creas ing the loan in g pow er o f the banks and correspon d in g ly redu cin g th e ir need o f borrow ing .

No accoun t is taken above fo r possible G overn m en t D eposits; nor o f vo lu n ta ry or fo rced re -d is cou n tin g betw een Federa l Reserve Banks.

pPA llow an ce shou ld also be m ade for the pyram ided loans in c lu ded in th e to ta l shown above o f $23,300,-

438.00 o f b ills payab le and re-d iscou n ts .

Jf

9


STATEMENT OF DALLAS BANKS.

COMBINED STATEMENTS OF THE FIVE NATIONAL AND FIVE STATE BANKS, AT CLOSE OF BUSINESS JANUARY 13, 1914.

Resources: Liabilities:

Statement of Dallas Banks.

Loans - U. S. Bonds - O ther Bonds - B ank ing House A va ilab le Gash

$25,236,325.973,031,000.001,624,230.681,128,583.96

12,482,407.91

G ap ita l Surplus and C ircu la tion Deposits -

$ 5,000,000.00 P ro fits 3,827,413.38

2,775,500.00 31,899,635.14

To ta ls $43,502,548.52 $43,502,548.52

BANKING SERVICE RENDERED TO THEIR CORRESPONDENTS BY THE TEN DALLAS BANKS DURING 1913.

Service Rendered Banks in Dallas District.

H andled th rou gh th e ir T ra n s it D ep a rtm ents item s on o ther Banks w ith in th e Dallas d is tr ic t am ou n tin g to - $499,589,236.00

H an d led item s on all po in ts ou tside theD allas d is tr ic t am ou n tin g to 105,331,063.00

T o t a l .......................................................................$604,920,299.00

R em itted on R ece ip t to Eastern Banks, cou n try checks sent us fo r co llec tionin th is d i s t r i c t ...............................................................$111,595,076.00

R eceived fro m th e ir corresponden t Banks and others sh ipm en ts o f cu rrencyand coin am ou n tin g to - $11,600,193.00

Sh ipped ou t to th e ir corresponden ts in con n ection w ith crop m ovem en t,etc., cu rrency and coin am ou n tin g to 20,936,313.00

T o ta l sh ipm en ts , in and out, o f cu rrency and co in - $32,536,506.00

Loan ed to Banks and Bankers th rou gh ou t the year an aggrega te o f _ _ _ _ _ _ _ _ _ $14,092,937.00

10

LIST OF BANKING TOWNS IN TEXAS CABRYING BALANCES

IN DALLAS.

A b b o tt B lu ffda le D eport I la germ anAb ilene B ivins D etro it H a lle ttsv illeAddison B risto l D ia lv ille H am iltonA lba Buckholts Dodd C ity H am linA lbany Bu ffalo Dorchester H and leyA ledo B u llard D ublin H ansfordA llen Burkb u rnett D uncanville H arle tonA lm a B urnet Ea^le Lake H arperA lto Burleson Ea^le Pass HasseA lto va B urton Eastland H aw kinsA lvarado B ynum E ctor H aw leyA lvord Caddo M ills Ed^ew ood H ed leyA m arillo C aldw ell Edna H earneAnderson C alvert E l Cam po H ea thAn n a C am eron E ldorado H ebronAnnona C am pbell E lectra H em p h illAnson Canadian El


LIST OF BANKING TOWNS IN TEXAS CARRYING BALANCES

IN DALLAS

(Continued).

L iv in gston Navasota Reagan SugarlandL lano Nevada Red Oak SwanLockh art N ew ark Red R ock T a ftLockney N ew Boston R edw ater Ta lcoLoxneta N ew Braunfels R h in eh art T a tumLone Oak N ew Castle Rhonesboro T ay lo rLong Branch New som e R ice TeagueLongview Nocona R ichardson T em p leLora in e Norm an^e R ich land T erre llLorena N orth Zu lch R io V ista TexarkanaL o tt Novice R is in g S tar Texas C ityLove lady N ew ton Roanoke Th orn tonL u fk in N ew Hope R oby T im psonLu ting Oakwoods Rochester T o m b allLyons O dell Rockdale T o m BeanM cG regor Odessa R ockw a ll T ren tM cK in n ey O^lesbv Rogers T ren tonM cLean O klaun ion Roscoe Trou peM abank O leny Rosebud T royM ad isonville O m aha Rosewood T ru m b u llM a lako if O range R o tan T u liaM alone Osceola R ow le tt T urkeyM ansfie ld Overton R oxton T ylerM arb le Falls O lton Royse UvaldeM arfa Pecan Gap Rule V a lley M illsM arkh am Paducah Rusk Van A lstyneM arlin P a in t Rock Renner V an H orneM arqu ez Palacios Sacul V enusM arshall Pa lestine Sadler V ernonM a rt P a lm er St. Jo V ic toriaM atador Paradise Sa ltillo W acoM aud Paris San Angelo W a ln u t SpringsM axw ell Park Spring San A n ton io Wax ah ach ieM aypearl P a tton v ille Sandia W ea th erf ordM elissa Pearsonville Sanger W eim erM em ph is Pecos San Jaun W ellin g tonM ercu ry Penelope San M arcos W ellsM erid ian P e tty San Saba W estM er it P ick ton Santa Anna W estm insterM erke l P ilo t P o in t Savoy W h artonM ertens P in e H ill Schertz W heelerM esqu ite P ittsbu rg Schulenburg W h itn eyM exia P la in view Scurry W h itehouseM id lan d P la ins Seagoville W h itesboroM id lo th ian P iano Sealy W hi tew righ tM ilan o P o in t Segu in W h ittM illsap Poo lv ille Sem inole W ich ita Fa llsM iles Pon ta Seym our W ills P o in tM ilfo rd P o r t A rth u r Sherm an W ilm erM in eo la Pottsboro Sh iner W inchesterM in era l W ells Pow ell S in ton W indomM ingus Pra ir ie H ill Sm ith v ille W in fie ldM oody Prin ceton Snyder W innsboroM t. Calm P r itch e tt Sou thm ayde W inonaM t. P leasan t P rocto r Spur W in tersM t. Seim an P u tn am Stam ford W o lfe C ityM t. Vernon Purdon S tan ton W orthamM u enster Quanah Stephen v ille W y lieM u llin Queen C ity S treetm an W oodvilleM urch ison Q u itm an Sulphur Springs W oodsonM u rphy Q uin lan Sulphur B lu ff Y an tisM yra R alls Sunset Y oaku mNacogdochesNaples

R angerRavenna

Sw eetw aterSylvester

Y o rk tow n

566 Banks Carrying 1654 Accounts With Average Balance of 4 10.T56,0 0 0 . 0 012

This Circle of 100 Miles Radius, of which Dallas is the centre, encloses 10.8% of the area of Texas,

Y e t w ith in th is 10.8% o f the area o f the S ta te there is:

25.4% (3,797 M iles ) o f the R a ilroad M ileage o f the S tate.29.5% ($747,666,866) o f the assessed va lu a tion o f the S tate.33.1% (1,399,081) o f the p opu la tion o f the S tate.34.6% (144,583) o f the fa rm s of the S tate va lued at $605,645,-

575 on w h ich are ra ised :43.4% o f the co tton o f Texas (2,223,622 B ales) and 37.9% ($251,217,647) o f the to ta l fa rm p rod u ction o f Texas.

46 o f the 249 counties o f Texas and 8 o f the 77 counties o f O k lahom a, havin g 1,320 G ities, Tow ns and V illages w ith 16,669 ra ted business houses and a p op u la tion o f 1,486,041.

13

saAiipjv |Buoi}B[\j aifl jo s6uip|0H paijissepaQ / paijissepun am luojj paonpoiday

VIEW W HOLESALE D ISTR IC T .

A Few o f the 26 Wholesale A^ > ricu ltural Im plem ent

Houses in Dallas.

14

DALLAS COMMERCIAL STATISTICS.

SHOWING THAT ESTABLISHED TREND OF TRADE CENTERS AT DALLAS

Dallas Leads the W orld : Dallas Leads the World.In the M an u factu re o f C o tton G in M ach in ery .In the M an u factu re o f Harness and Saddlery.In th e D is tr ib u tion o f A g r icu ltu ra l Im p lem en ts second on ly to

Kansas C ity.

Dallas Leads Every City in the Southw est:In P op u la tion - - - - - - - - - - - - - - 131,278In W holesale Business _ _ _ _ _ _ _ _ $211,458,000.00In N u m ber o f W holesale Houses - - - - - - - - - 318In F actory O u tpu t _ _ _ _ _ _ _ _ _ _ $42,595,000.00In N u m ber o f Factories - 393In F re igh t Business _ _ _ _ _ _ _ 602 carloads per dayIn Posta l R eceip ts - $1,002,023.00In N ew B u ild in g P e r m i t s ........................................ $8,439,540.00

Dallas Leads Every City in the Southwest.

Dallas sells m ore Goods in the T e rr ito ry th an e ither St. Lou is or Kansas G ity, and p a rticu la r ly surpasses th em and has the largest vo lu m e in these lin es :

A u tom ob iles , HarnessC em en t, H ats and Gaps,Drugs and G roceries, M ach in ery ,D ry Goods, M illin e ry ,E lectrica l Supplies, Paper.

P e tro leu m Products, Pa in ts and Oils, Saddlery,Vehicles,

Dallas Sells More Goods in the Territory than her nearest competitors, St. Louis or Kansas City.

N O TE . St. Lou is surpasses D allas in vo lu m e o f business in th e T e rr ito ry in tw o lines on ly, v iz : Boots and Shoes, and H ardw are.

141 F irm s o f N a tion a l Im p ortan ce and opera tin g a ll over the U n ited S tates have th e ir genera l offices and warehouses at Dallas, fo r the Sou th w est.

141 Firms of National Importance Located at Dallas.

S igned s ta tem en ts fro m the D allas Jobbers show th a t th ey se ll: Dallas Sells 44,351 CustomersOutside of Texas.

28,280 m erchan ts in O k lahom a.3,151 m erchan ts in N ew M exico.5,698 m erchan ts in Arkansas.7,222 m erchan ts in Lou isiana.

(NOTE.These statements necessarily overlap to some extent.)

O f the 2448 ra ted business houses in Dallas tw o on ly operate as branches o f St. Lou is. One on ly operates as branch o f N ew Orleans.

Three Dallas Houses only are branches of other Southwestern Cities.

T o ta l C o tton Area W h ole South 892,072 Sq. M iles.T o ta l C o tton Area in the proposed T e rr ito ry w ith in 12 hours ride fro m

D allas 437,794 Sq. M iles.

49.1 % of Cotton Acreage of the South within 12 hours ride from Dallas.

D allas C o tton Exchange has 73 m em bers w ith buyers in every p o rtion Dallas is the Largest Cotton o f co tton te r r ito ry in proposed D is tric t. B ou gh t last year 1,459,000 Market in the United States,bales and paid ou t $92,097,000.00.

276 C o tto n Seed O il M ills are w ith in 150 m iles o f Dallas, p rodu cing one- Dallas a Great Cotton Seedth ird o f the to ta l G otton Seed O il o f the U n ited States. Th ree o f Products Market.

th e Largest M ills are at Dallas.

15

saAiLiojviBuoijeN eij} jo s6uip|0H psijissepeQ / paijissepun ai# luojj paonpojdey__i___________________________________________________ ____________ .......... - ............... ........ i ......................... .... ...... ........ ........................................ ...... ..................

VIEW D ALLAS CO M M O NW EALTH BANK.

The Business Center o f the Southwest.

Dallas.

DALLAS COMMERCIAL STATISTICS

B u tler Bros, have five d is tr ib u tin g hou ses: Ghica^o, N ew Y ork , M inn eapo lis , Butler Bros, at Dallas.St. Lou is and Dallas. Spent $1,600,000 in b u ild in g ; occupy 475,000 Sq. fe e t in one bu ild in g . I t is n o t a branch o f St. Lou is, and the D allas house hand les a ll Sou th w estern business.

Ford M o to r Gar Go. are now bu ild in g at D allas one o f th e ir few assem bling p lan ts, to cost $400,000, em p loy in g 600 m en, to hand le business o f Sou thw est.

Ford Motor Co. Assembling Plant at Dallas.

Sears, R oebuck & Go. have th e ir la rgest d is tr ib u tin g house at Dallas. Sears, Roebuck 8c Co. at Dallas. In ves tm en t $4,000,000. 1,200,000 Sq. fe e t o f floor space, em p loy in g1300 peop le, d is tr ib u tin g m erchandise on ly.

26 W holesa le A g ricu ltu ra l Im p le m e n t Houses at Dallas do a business o f $35,000,000 annually .

32 W holesale A u tom ob ile Goncerns in Dallas sold $18,164,972 during 1913.

141 Goncerns have headqu arters at Dallas and operate Sou th w estern business and branches fro m Dallas.

FIRMS OF NATIONAL IMPORTANCE AT DALLAS

A. P . W . Paper Co.A llis Chalm ers M fg . Co.A m erican LaFrance F ire Engine Co. A m erican M u ltig rap h Sales Co. A m erican Soda F ou n ta in Co.A m erican S teel & W ire Co.A m erican T ire 8c R ubber Co.A m erican T ype Founders Co.A m erican W e ll W orks.A r t M e ta l C onstruction Co.A r t W a ll Paper M ills .A tk ins, M en tzer 8c Co.B. F . Avery 8c Sons P low Co.A very C om pany o f Texas.B arnhart B rothers 8c Spindler.Sam uel B ingham s Sons M fg . Co.T h e B o lte M fg . Co.S. F. Bowser 8c Co.B row n Gracker 8c Candy Co. (Loose

W iles B iscu it Co.)B row n M fg . Co.B urnsw ick-Balke C ollender Co.Bu ick A u to Co.Augu st A . Busch 8c Co.B u tler Brothers.P h ilip Carey Co.J. I . Case P low W orks.J. I . Case Th resh in g M ach ine Co. Cocoa Cola Co.C o lu m bia G raphophone Co. C onsolidated F ilm 8c Supply Co. C on tin en ta l G in Co.Crane Go.C row n Cork 8c Seal Co.John Deere P low Go.D iam ond R ubber Co.D etro it E lectric 8c M oto r Car Co. Edwards M fg . Co.E lectric App liance Co.E llio t F isher Go.Em erson B ran tin gh am Im p lem en t Co. Federa l P la te Glass Co.F irestone T ire 8c R ubber Co.F isk T ire Co. ,Ford M o to r Co.G enera l F ire Extingu isher Co.G ilson ite C onstruction Co.G oodyear T ire 8c R ubber Co.G ra tton 8c K n ig h t M fg . Co.G. H . G ray R ubber Co.

H a rt 8c Crouse.Hesse Envelope Co.W . C. H ixson 8c Co.G inn 8c Co.H udson M o to r Car Co.Geo. P. Id e 8c Co.Im p er ia l M o to r Gar Co.In te rn a tion a l T ex t Book Co.B. F. Johnson Pu b lish ing Co.L in co ln P a in t 8c Golor Co. (A cm e W h ite

Lead & C olor Co.)L iq u id Carbonic Co.A . E. L it t le 8c Co.W . R . M ad ison Pu b lish in g Co.M agn o lia P e tro leu m Co.M aster Bu ilders Co.M ich igan M o to r Car Co.M ic.helin T ire Co.M onarch Te lephone M fg . Co.H . K . M u lfo rd Co.T h e M u rray Co.N ew H om e Sew ing M ach ine Co.O liver C h illed P low W orks.O verland A u tom ob ile Co.P a r lin 8c Orendorh Im p lem en t Go. Pa th fin der M o to r Car Co.Patterson , Sargen t P a in t Go.Peavey R ubber Co.P ierce Fordyce O il Assn.Ph ilip s Boyd Pub. Co.P ittsb u rg W ater H eater Co. P res t-O -L ite Co.Queen C ity P r in t in g In k Co. R em in g ton T yp ew rite r Co.R u m ley P roducts Co.Sears Roebuck 8c Co.Sharpless Separator Co.Sherw in W illiam s P a in t Co. S ig ler-M cN am era Co. (A cm e S ilver Co.) S ilver B u rdett 8c Co.Sou thern H ardw are 8c W oodstock Co. Sou thern Products Com pany. (M itsu i

8c Co.)R ock Is lan d P low Co.Sou thw est G enera l E lectric Co. (G en

era l E lectric Co.)Sou thw estern Paper Co. (J. W . B u tler

Paper Co.)A . G . Spald ing 8c Bro.S tan a rd -T ilton M illin g Co.

Studebaker B rothers Co.Texas B itu lith ic Co.Texas Glass 8c P a in t Co. (P ittsbu rg

P la te Glass Co.)Texas H arvester Go. (In te rn a tion a l

H arvester Co.)Texas M ach inery 8c Supply Go. (Fa ir-

banks-M orse 8c Co.)Texas M o lin e P low Co. (M o lin e P low C o .) Texas Ohio C u ltiva tor Co. (O h io C u lt i

va tor Co.)A . J. T ow er 8c Co.U nderw ood Typ ew rite r Co.U n ited Cork Co.U n ited S h irt 8c C ollar Go.U n ited States C hem ica l Co.U n ited States T ire Co.W estern Coal 8c M in in g Co.W estern E lectric Co.W estinghouse E lectric 8c M fg . Co.A . I I . W ilk in s Co. (Am erican Book Co.) L . W o lf M fg . Co.W estern U n ion Te legraph Co.Posta l Te legraph Co.M ackey Te legraph Go.B ell T e lephone Co.S tone 8c W ebster Corporation . P ittsb u rg T es tin g Laboratory .R ob ert W . H u n t 8c Co.R epub lic S teel Co.A m erican Sheet 8c T in P la te Co. Ch icago B ridge & Iro n W orks.N a tion a l Tube Co.G raham Paper Co.A etn a Pow der Co.N a tion a l Cash R eg ister Co.W est D is in fectin g Co.L . C. S m ith 8c Bro.Burroughs A dd in g M ach ine Go.U n ited M o to r Co.B. F. G oodrich Co.Cole M o to r Car Co.T h e H a lff Co.F ran k lin M o to r Car Co.Packard M o to r Car Co.W h ite M o to r Gar Co.A u tom a tic Sprink ler Co.G enera l F ilm Co.M cB eth Evans Glass Co.Advance Thresher Go.

17

DALLAS COMMERCIAL STATISTICSGENERAL AND COMPARATIVE.

I t wil.1 be conceded th a t all o f Texas is nearer Dallas th an any o ther lo c a tion under con sidera tion . The m ap attached w ill show th a t a ll o f the te rr ito ry c la im ed in O k lahom a, Arkansas and Lou is iana is w ith in fifteen hours by ra il fro m Dallas. T h a t every p o rtion o f the te r r ito ry can be reached fro m D allas in less tim e th an fro m St. Lou is. W ith the excep tion o f a sm a ll p o rtion o f N o rth ern O k lahom a, n orth o f the C anad ian R iver, i t can be reached fro m Dallas by ra il in shorter t im e th an fro m Kansas C ity . The on ly p o rtion o f the te rr ito ry th a t can be reached fro m Denver in a shorter t im e th an fro m D allas is the N orth ern h a lf o f N ew M exico and a sm all p o rtion o f the P a n hand le o f Texas. Less than 5 % of the pop u la tion in the te rr ito ry exclusive o f Texas can be reached m ore qu ick ly fro m Kansas C ity or St. Lou is th an fro m Dallas. 893 o f the 943 N a tion a l Banks are nearer D allas than th ey are Kansas C ity , St. Lou is, Denver or New Orleans. 1761 o f the 1816 S tate Banks are nearer Dallas than any o ther o f the c ities m en tion ed .

Dallas Closer to all the Territory than any other City.

G row th in P op u la t ion

Per G ent:

Increase in F actory E m ployees

Per G ent:

Increase in Value of Factory P rodu cts

Per C en t:

1900 to 1910 F ive Years 1899 to 1904

F ive Years 1904 to 1909

1899 to 1904 1904 to 1909

Dallas116%

21.2 41.7 64.7 72.5

New O rleans18%

7.9 3.6 41.7 1.2

St. Lou is 19%

5.6 27.6 38.0 22.9

Kansas G ity, M o.

51.7%13.8 32.6 50.8 53.8

M em ph is28.1%

11.3 7.5 40.8 50.9

D enver59.4% 13.8 24.7 3.3 40.6

Dallas Increased 116% in Population, 184% in Factory Output 1900 to 1910, Leading all Cities in Southwest.

2200 T ra ve lin g M en live at Dallas and m ake it H eadquarters fo r the Sou thw est.

D allas h as 52 M agazin es and Period ica ls , and, next to N ashville , is the la rgest p u b lica tion cen ter in the w h o le South .

Dallas Second Publication Center in the South.

C om m erc ia l ra tin g o f the 2284 business firm s of Dallas to ta l $115,343,500.00, an average o f over $50,000 each.

Dallas Office Buildings.

DALLASCOMPARATIVE AND ILLUSTRATIVE.

3,691,063 peop le live w ith in 200 m iles o f Dallas, w h ich is 47.4% o f the en tire p op u la tion o f the proposed d is tric t, a lth ou gh it includes bu t 20.3% o f the area o f the d is tric t.

2,623,202 live in Parcel Post Zone T w o ; th is Zone o f 150 m iles radius fro m Dallas.

-for 1909F arm values in Zone Tw oAare around $1,166,743,688, w h ich is a greater

am ou n t th an the cap ita l and surplus o f a ll banks, tru st and loan com pan ies in the U n ited S tates com b in ed ,o f s a m e Y e a r

T h e A n n u a l F arm P rod u ction in Zone T w o is greater th an the com b ined fa c to ry waês o f St. Lou is, C leveland, D etro it, P ittsb u rg , B oston , B u ffa lo , San Francisco and P rovidence.

160 Dallas concerns are ra ted at over $1,000,000.00.

I t is in te res tin g to no te th a t the loans and d iscounts o f Texas Banks a lone are greater th an those o f A labam a, M ississippi, Arkansas, Lou isiana and F lo r ida com b ined .

Wealth and Population of District Centre around Dallas

Farm Values Greater than Capital of all Banks in the United States.

Kansas C ity c la im s prestige on account o f Sears, R oebuck & Co. lo ca tin g there. T h e Kansas G ity house o f Sears, R oebuck & Co. is a w are house on ly, occupying 200,000 sq. fe e t o f floor space, sh ipp ing on order fro m Ghicaô. Th e Dallas House o f Sears, R oebuck & Go. has six tim es the am ou n t o f floor space, orig ina tes and ships fro m D allas all business fo r Texas, O k lahom a, Arkansas, N ew M exico, and Lou isiana .

Sears, Roebuek & Co., Dallas, Six Times Greater than Kansas City House.

100 MILE RADIUS CIRCLES AROUND DALLAS, ST. LOUIS AND KANSAS CITY, EXCLUDING THE POPULATIONS

OF THE CENTRAL CITIES GIVES:

DallasKansas C ity St. Lou is

1910P op u la tion

1,279,1601,254,5781,387,441

% Increase 1900-1910

In c lu d in g the popu la tions o f the cen tra l c ities, âins in p op u la tion w e r e : Dallas _ _ _ _ _ _ 18.0%St. Lou is - - - - - - 14.8%Kansas C ity _ _ _ _ _ 1.4%

T o ta l Dallas popu la tion , 1,486,041, bein^ 40.3 per sq. m ile , com pared w ith 20.7 fo r Kansas, and 47.9 fo r M issouri.

As Many or More People within 100 Miles of Dallas than there are within 100 miles of St. Louis or Kansas City.

21

S0AIL|OJV |Buo]}Bf\| 041 ]0 s6uip|0H p0ijissE|O0Q / pajjissBioun sifl Luojj paonpoiday

Reproduced from the Unclassified / Declassified Holdings of the National ArchivesHI

NEW BUILDING of DALLAS T IM E S HERALD . -

TYPI

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TITCHE-G0ETTINGER5 DEPARTMENT STORE

STORE

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