Texas Almanac, 1952-1953 Page: 262
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Texas Banking-Resources and Deposits
There were 891 chartered banks in Texas,
as of Dec. 30, 1950, with total resources of
$7,894,954,687. State banks numbered 449 and
had $1,427,679,687 of resources. National banks
numbered 442 and had $6,467,275 000 of re-
sources. The state banks had deposits amount-
ing to $1,338,539,519, and the national banks
had deposits totaling $6,076,006,000.
Both national and state banks had in-
creased their resources and deposits during
the calendar year, 1950. (See tables p. 263.)
These figures represented new high peaks in
Texas banking resources and deposits.
Texas banking figures have climbed stead-
ily, with the economic development of the
state through the years, except in two brief
periods. These temporary declines were
caused by the short depression that came
immediately following World War I and the
greater depression that came in the latter
part of 1929 and persisted until the middle
1930's.
Bank resources of Texas, as of Dec. 31,
1914, immediately after the beginning of
World War I, totaled $506,370,000. There were
1,382 banks, of which 533 were national banks
having $377,516,000 of the combined resources.
Resources increased rapidly during and im-
mediately after World War I and reached
$1,370,986,000 as of Dec. 31, 1919. As of that
date there were 1,500 banks (552 national
and 948 state) with the national banks hold-
ing $965,855,000 of the resources.
After reaching a post-World War I low
point of $1,025,995,000 resources, Dec. 31, 1921,
the climb was resumed and there was a
steady gain until a predepression peak of
$1,565,339,000 was reached Dec. 31, 1928. At
this date there were 1,345 banks, of which 632
were national, holding $1,230,469,000 of the
resources.
Depression to World War II.
The depression brought a decline of re-
sources to $1,030,999,000 on Dec. 31, 1932, at
which time there were 1,023 banks, of which
483 were national, holding $822,857,000 of the
resources. Every Dec. 31 statement from 1933
to 1945, inclusive, showed a gain. However,
the gain was not rapid until the war years.
Bank resources of Texas were $1,932,486,000
at the end of 1940, had jumped to $3,113,-
825,000 by Dec. 31, 1942, to $3,860,315,000 t
the end of 1943, to $4,873,383,000 at -the en
of 1944. and thence to $6,164,788,543.73 at the
end of 1945.
New Peaks Reached.
Total Texas bank resources fell off slightly
in the year-end calls of 1946 and 1947, but
reached a new peak of $6,782,263,000 on Dec.
31, 1948. The increase continued to $7,080,-
546,015 at the end of 1949 and reached the
new peak of $7,894,954,687 at the end of 1950.
In the meantime there was a gradual de-
cline in the number of banks from the peak
of 1,583, at the end of 1920. Most of this
decline has been in the number of state
banks, though there has latterly been an up-
turn in the number of state banks.
State Banks.
The organization of state banks was not
permitted under the original draft of the
resent State Constitution, adopted in 1876,
but they were authorized by an amendment
in 1904 of 'Sec. 16 of Art. XVI. (See p. 381.)
The number of state banks increased rapidly
and reached a peak of 1,036 in 1921. Their
number declined and there were 391 at the
end of 1942, at- which time there were 439
national banks. Since that date the state
banks have increased to 449 as of Dec. 30,
1950, and their resources, while only a little
more than 20 per cent of the total, have
increased somewhat more rapidly in recent
years, on percentage basis, than resources of
the national banks.
26:FEDERAL RESERVE BANK OF DALLAS
The Federal Reserve Bank of Dallas is head-
quarters for the Eleventh Federal Reserve
District consisting of the whole of Texas and
parts of four other states as follows: Arizona.
-(Southeastern part.) Counties of Cochise,
Graham, Greenlee, Pima and Santa Cruz.
Louislana.-(Northern part.) Parishes of Bien-
ville, Bossier, Caddo, Caldwell, Catahoula,
Claiborne, Concordia, De Soto, East Carroll,
Franklin, Grant, Jackson, La Salle, Lincoln,
Madison, Morehouse, Natchitoches, Ouachita,
Red River Richland, Sabine, Tensas, Union,
Webster, West Carroll and Winn. New Mex-
Ico.-(Southern part.) Counties of Catron,
Chaves, Curry De Baca, Dona Ana, Eddy,
Grant, Guadalupe, Hidalgo, Lea, Lincoln,
Luna, Otero, Quay, Roosevelt, Sierra, Socor-
ro and Torrance. Oklahoma.-(Southeastern
part.) Counties of Atoka, Bryan, Choctaw,
oal, Johnston, McCurtain, Marshall and
Pushmataha.
Board of Directors of the Dallas Federal
Reserve Bank, as of Aug. 1, 1951, was as
follows: Class A.-(Bankers, elected by mem-
ber banks) : J. Edd McLaughlin, Ralls, Texas;
W. L. Peterson, Denison, Texas; P. P. But-
ler, Houston, Texas. Class B.-(Industry, ag-
riculture and commerce, elected by member
banks): George L. MacGregor, Dallas, Texas;
W. F. Beall, Jacksonville, Texas; one vacan-
cy. Class C.-(General public, elected by
Federal Reserve Board of Governors): J. R.
Parten, who is chairman of the board and
Federal Reserve Agent, Houston, Texas;
R. B. Anderson, deputy chairman, Vernon,
Texas, and G. A. Frierson, Shreveport, La.
Staff Officials.
Federal Reserve Bank of Dallas: President,
R. R. Gilbert; First Vice-President, W. D.
Gentry; Vice-Presidents, R. B. Coleman, E.
B. Austin, L. G. Pondrom (also cashier), H.
R. DeMoss, W. H. Irons, Mac C. Smyth;
Counsel, Harry A. Shuford: Asst. Vice-Presi-
dent and Secretary of Board, Morgan H. Rice.
Federal Reserve Branch Banks are located at
El Paso, Houston and San Antonio.
BANK DEBITS
Principal cities of Eleventh Federal District
according to Federal Reserve Bank of Dallas.
,------Debits*--- Pet.
City-b 1950. 1949. 1949-
Arizona: (Thousands of dollars.) 1950.
Tucson ............. $750,397 $658,144 14
Louisiana :
Monroe ............. 483,357 436,528 11
Shreveport .......... 1,814,379 1,600,089 13
New Mexico:
Roswell ............ 230,341 173,520 33
Texas:
Abilene ............. 586,444 393,206 49
Amarillo ...........1,311,503 1,089,928 20
Austin ........... 1,575,705 1,524,670 3
Beaumont ........ 1,261,147 1,143,342 10
Corpus Christi....... 1,229,752 920,782 34
Corsicana .......... 144,917 132,677 9
Dallas .............. 15,204,638 12,539,248 21
El Paso............ 1,864,436 1,530,720 22
Fort Worth.......... 4,647,362 3,797,455 22
Galveston ........... 854,456 839,261 2
Houston ............ 14,702,669 12,762,453 15
Laredo ............. 214,795 193,318 11
Lubbock ........... 1,117,750 771,424 45
Port Arthur......... 410,077 409,761 (1)
San Angelo.......... 468,684 350,537 34
San Antonio........ 3,814,048 3,006,996 27
Texarkanat .........201,274 171,050 18
Tler .............. 553,815 487,201 14
aco ..........777,285 603,339 29
Wichita Falls........ 791,001 673,243 17
Total-24 cities ....$55,010,232 $46,208,892 19
*Debits to deposit accounts except interbank.
tThis figure includes only one bank in Texar-
kana, Texas. Total debits for all banks in Tex-
arkana, Texas-Arkansas, including two banks lo-
cated in the Eighth District, amounted to $336,-
451,000 for the year 1950.
*Indicates change of less than one half of 1 pct.
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Texas Almanac, 1952-1953, book, 1951; Dallas, Texas. (https://texashistory.unt.edu/ark:/67531/metapth117137/m1/264/: accessed April 28, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Texas State Historical Association.