Imperial Valley press., 1921-05-28
B j s | n E::S {
GENERALLY
IS N (J('H
BETTER
Improved Building Condi-
;tiOns and Greatest Wheat
Crop in History Outstand-
ing Developments in Fed
eral Reserve Report.
(By Associated Press

SAN FRANCISCO, May 28.-In-
creases in building activities, partc-
ularly in Southern California and the
government forecast May of VIM
ter wheat crop of 66,00000 bushels,
the largest in the history of the
Twelfth Federal reserve district, were
the outstanding developments in the
district during the past month, ac-
cording to a statement made public
here today by John Perrin, San Fran
cisco, feedral reserve agent.
''In the district generally" the
statement said, "the number of build
ing permits was 4S.9 per cent larger
than in April, 1920, and their value
PA per cent greater. The smaller in
crease in value of permits is doubtless
due to decreased building costs, which
are estimated to be from s to so per
cert less than they were a year ago"
Regarding winter wheat, the state
ment said its conditions in the district
May was slightly above the ten year
average, and predicted total produc-
ton of 66,654 900 bushels if average
conditions prevail until harvest time,
compared with 58.O59,000 bushels for
1920. There is an abandoned acreage
of 28 per cent in California and 10
per cent in Arizona.
More than a seasonal improvement
of activity was reported in the state
ment for the districts lumber industry.
Seventy-five per cent of the mills are
now operating, it was declared, COM
pared with 40 to SO per cent earlier
in the year, and demand for nearly all
grades of lumber is reported increas-
ing.
Increased production of silver and
lead and falling off in the production
of gold and copper in March 1921,
compared with March, 1920, was re-
ported by Is mining companies in the
district, the report declared The deep
gold mining industry, which has Ian
guished since early in 1929 has not
improved, most of the principal cop
per mines are shut down but silver
maintains relatively stationary po-
sitlon from month to month but no
great activity is reported, the report
ing mines operating at half capacity.
Average daily production of petro-
leum in California during April, 1921,
totaled 33S, ,961 barrels, the report says
exceeding the record production of
sumption also increased slightly dur
ing the month. Fifty-eight new wells
were opened during April and five
wells were abandoned.
In retail trade, slight declined in the
value of sales in April compared with
the previous month were reported. OF
seven cities reporting retail trade
conditions, Los Angeles and Oakland
only showed an increase in the value
of net sales in April, 1921. compared
with April, 1920. Seattle, Spokane and
Sacramento reported an increase in
value of sales in April compared with
March of this year.
Present retail prices are from 10 to
30 per cent lower than at this time
last year. The decline in retail prices
decreased in velocity during the past
mont hand continues less abrupt than
the decline in wholesale prices.
During April unemployment de-
creased in all sections of the district
except San Francisco where an in
crease was reported due largely to
strike conditions in the building trades
and among marine workers. Farm
labor is everywhere abundant, al
though wages of farm labor are re-
ported to be between $35 and $50 with
board, instead of SOS to 500 as last
year. In all the districts cities, ex-
cept Los Angeles, many industries are
resorting to part time labor to keep
their working staffs employed and in
tact.
Business failures in the district
were less in number and liabilities in
April than in March this~year but
greater in liabilities than in April,
1920. The total liabilities of 102 fail