Imperial Valley press. (El Centro, Calif.) 1907-current, 1923-02-05
BANKS EXPERTS
SEE CONDIT IONS
IN VALLEY GOOD
Improvement Seen in
Way Last Issue of
Bonds is Taken Up
Agricultural Conditions
in Valley Continue to
Improve

Imperial Valley and its financial
situation is given good SEND off
in Il monthly summary for Janu-
arv released today today by f. IT,.
Tucker. director Of research, Paci-
Southwest bank system, of which
the Security Commercial and Saw
ings Bank of this city is part.
Investment Market
Regarding Imperial Valley the
summary says:
"The investment market during
the month of January has been un-
usually strong. The heavy buying
anticipated for January exceeded
the expectations off, investment
houses. The tendeseyffor local fin
ancing to be handled through local
houses continues undated. Such
issues as Imperial Irrigation Bonds,
to the amount Of $1,000,O00; Spring
Valley Water Bonds, for total of
500, 900, 900; and Santa Monica Park
Bonds, to the amount of $2,200,00O
have been underwritten by Pacific
Coast houses and sold on the Pacific
Coast market. The present strength
of the market is indicated by the
fact that the new issue Of Imperial
Irrigation IS was placed at 1927
az compared with 1O1 for $4,000, 000
! Of these bonds previously issued.
The new issue was subscribed seve-
raj times over. 60
I Imperial Valley
Agricultural conditions satisfac-
tory with prospects for improve
ment; large new alfalfa acreage
promises increasing feed and dairy
business; heavy importations of
feeders from Arizona and New
Mexico; cotton production approxi-
mately 10000 to $4,000 bales with
prices strong: retail trade improv-
ing; general feeling optimistic.
Dairy Trade e..
"The dairy business Of the Cen.
trail San Joaquin Valley and tho Ins-
perial Valley continues good. Dairy
and stock pasture in the Imperial
Valley is showing material in
crease over last year, with demand
for pasture active and prices high.
The Dairy Improvement Club idea
is taking strong hold, with con-
sequent improvement in quality of
stock and III production.
Cotton
"The cotton season will close in
from five to six weeks, somewhat
earlier than usual. There has been
practically no change in the esti-
mated production in the Imperial
Valley during the past month, har-
vest operations now indicating that
there will not be more than $4,000
bales produced in the valley as com
pared with n maximum estimate Of
$1,000 a month ago.
"'The cotton is being sold rs fast
as it is picked. Stocks in the yards
on both sides of the valley now
average about 1900 bales. APP
proximately $4,000 bales of Mexi-
can cotton have been ginned at
Calexico.
"Prices have continued strong,
averaging from 25 to 90 cents, ae-
cording to staple, which are suffi-
GENTLY large to yield growers small
profits, in spite Of the short crop.
1t is reported that there will pro-
badly be rather large increase III
the acreage planted to cotton on the
American side of the border during
1923.
Vegetables
"Lettuce shipments from the I'm
pcrial Valley have been heavy, hav.
ing totalled 1851 ear loads be-
tween December 9 and January 26,
with prices at Ell Centre running
from $l.75 to 1926, with demands
sdlow, few inquiries and many ship
ments rolling unsold. The major
portion of the supply has been of
second grade quality, although re-
cent cool weather has improved the
quality and is bringing large pro-
portion of first grade lettuce.
Cauliflower prices are running
from 60 to rs cents per dozen, with
the supply largely of middle grade.
Asparagus shipments are expected
to commence in the fore part of
February, with a good crop in
evidence.