Dallas quickly became the financial center for the oil industry in Texas and Oklahoma. In the first months of 1931, 28 petroleum-related businesses either moved to or formed in Dallas. Banks made loans to develop the oil fields, and Dallas became the financial center for all oil fields in the Texas Panhandle, the Permian Basin, East Texas, Gulf Coast, and Oklahoma.
In the first months of 1931, Dallas became a crucial financial center for the oil industry in Texas and Oklahoma. Twenty-eight petroleum-related businesses either moved to or were established in Dallas during this period. Financial institutions lent money to develop oil fields, making Dallas the central financial hub for all major oil regions including the Texas Panhandle, Permian Basin, East Texas, Gulf Coast, and Oklahoma.