Imperial Valley press., 1921-04-28
WHOLESALE {
COSTS ARE:
N ARkED
DOWN
Federal Reserve Bank Re-
ports Definite Signs of a
Business Revival With
Volume of Trade at High
Level. =,
(By Associated Press)


SAN FRANCISCO. April 2S.-Def-
mite signs of business revival in GER
tain industries of the Twelfth Federal
Reserve District appeared during the
past month, during which period also
spring activity in agricultural opera
tions began, according to report
made public here by the Federal Re
serve bank Of San Francisco.
Lumber production, which has been
at the lowest point in two years, was
lI.3 per cent greater last month than
IN February" the report said. "Ap-
proXinately go per cent Of the mills
today are in operation-some on part
tlme-as against less than so per cent
on March /, 1921.
Several milk condensarieS, which
had been closed since the end of 1920,
have resumed operations and others
have increased their output to meet
orders growing out of a more active
domestic demand and a slight in
crease in foreign shipments.
Unemployment has decreased, en-
eept III the copper mining centers,
where shutting down of the proncipal
producers has been ordered until the
market price of copper rises to point
which will make production profitable.
In the shipbuilding industry, the
new contracts of record size were an
nounoed by one yard, although others
are nearing the end of the construc-
ton for which they have contracts.
"The building industry shows dis
tinct signs of revival, permits in
March, 1921, exceeding in value those
of March, 1920, by 26.9 per cent and
being so far in excess Of those of
February, 1921, as to indicate more
than seasonal increase of activity.
Bank clearngs We're only Is per
cent less in total value than in March,
1920, which, in view of the years de
cline in prices indicates that the VOL
une of business being done is not less
ard probably greater than that of last
year at this season.
Various price indices show that
wholesale pricts are Approximately
40 per cent lower than they were a
year ago, and volume of actual trans
actions in the wholesale trade gen
orally is probably not less than it was
a year ago at this time.
"ln the agricultural industries,
mixed tendencies appear. Certain
commodities-rice, cotton, barley, hops
and wool-have not moved market
ward i'll appreciable quantities during
the month, but sugar, both cane and
wheat, and canned fruits haze been
steadily moving into consumption.
precipitation occurred opporture-
ly during March but the month Waa
not marked by the abundant rainfall
which has characterized the winter of
l92O-2l. Conditions are reported cX-
ceptionally favorable for growing
crops in all sections of the district,
save portions of southern California
and southern Arizona, where the rain
fail has been below normal all season.
"A cold spell followed by frost oc-
CURED over the whole district during
the last few days of March and the
first few days of April. Some dam
age was reported from practically
every fruit and grape growing area,
and individual growers suffered Sc
Verely in some cases, reports Indicate
a reduction Of prospective crops of
aprlcots and grapes.
A section of the banks report deyot-
ed to citrus fruits said on April i,
1921, approximately 35 per cent of the
navel orange crop, now estimated at
$4,000 cars, remained to be gathered
The navel orange crop in 1919-20 was
lb,7O0 carloads, Weather condit .ons,
the report declared, have been favor
able for the distribution.
The Valencia orange crop, which
viii be harvested during the summer
months, is estimated at 22,200 cars
the statement said. "The coSing cror
promises to be the largest ever har-