Imperial Valley press., 1923-03-05
BANK REPORTS
FEBRUARY BEST
IN THREE YEARS
Optimism in Face OF
Short Tourist Crop
Good Sign

Good Sign
The economic situation through
out the Pacific Southwest has been
universally more favorable during
February than during the cores
ponding period of any of the past
three years, is the statement made
in the March number of the month
ly summary of conditions in the Pa
cific Southwest issued by the re.
search department of the First Ma
tional Bank of Los Angeles, The
Pacific Southwest Trust and Saw
ings Bank and the First Securities
Company.
Those districts which have suf-
fered most from postwar adjust
ments are reporting definite turn
for the better, the report continues.
The agricultural outlook is uuiver-
sally excellent; the investment mar
ket is exceptionally strong; redis-
counts are at Il premium; industrial
output is increasing; unemployment
is at minimum; conservative ex-
pansion and optimism on the part
of producers are in evidence in prac
tically all lines of economic en-
deavOr.
Economic Producer
The fact that this optimism should
be so prevalent throughout the Pa
cific Southwest in the face of a
short tourist crop is evidence that
the prosperity of this territory is
now definitely dependent upon its
position as an economic producer
rather than as 81 tourist center.
The agricultural outlook has i'm
proved materially during. the month,
the condition of practically all crops
being better than month ago, with
plentiful water assured for summer
irrigation, and with prospects for
large crops.
The only important item of con
Germ at the present moment is
whether the warm weather during
the latter part of February has fore
ed too rapid development of some
crops which might have an adverse
effect if later frosts occur, although
danger of serious frosts has prob
ably passed.
Vegetables .
The principal vegetable crops on
the market are lettuce and cauli-
flower. Lettuce movement has been
heavy, having totalled l,15S carloads
from Imperial Valley during the
first 90 days Of February as com
pared with 3,7G0 car loads during
the present crop year. The peak of
the season. however, is not expected
until during the first ten days of
March. The size and quality is un-
satisfactory, the small sizes being
due III some degree to cold nights,
but largely to failure to fertilize
the soil. The market continues
weak for small sizes, although good
for large stocks, prices for 41as and
larger ranging from $3.50 to $1.75.
1t is estimated that the 1928 I'm
perial Valley crop will be raised on
approximately $4,000 acres as com
pared with 1000 acres last season,
and that the total yield will approx
imte 5000 car loads, or approx
mately 65 per cent more than the
crop produced in Florida, the second
largest growing section. The move
ment of the Imperial Valley crop
will probably cease during March
and that from other Southern Cali
fcrnia sections will start about the
first of April.
Livestock
Although the past month has not
been entirely satisfactory from the
marketing standpoint, the general
feeling i'll the livestock business is
more optimistic than at any time
since the price deflation of 1920. AS
far as feed conditions are concerned
1928 promises to be the most salts
factory year i'll the history of the
cattle industry Of California.
Every feeding district reports
grass and growing conditions equal
to or in excess of normal. There
have been few killing frosts, with
practically no damage to feed am
ticipatcd.
Imperial Valley
Definite evidence that the valley
has passed the low point of della
tion; farming conditions improving;
sale of farm implements materially
in excess of 1922; cultivated acreage
increasing, particularly alfalfa and
barley; retail business showing fair
increase over 1922; current collec-
tions good with old collections slow;
lettuce shipments fairly heavy; cot
ton crop approximately 10000 bales;