Imperial Valley press. (El Centro, Calif.) 1907-current, 1923-02-07
BUSINESS IN 1922 AND 1928

perspective upon agricultural conditions and the 1873
prospects for business in agricultural communities
Final estimates of the United States Department
of Agriculture show according to the review, that the
physical volume of agricultural production IN TINS dls
trct in 1922 was approximately the as in 1921
but that the aggregate value of the crops grown was
10 per greater in 1922 than in the previous year
Prices for livestock and livestock products have
turned moderate profits to producers during the major
portion of the year and the livestock industry is now
IN appreciably better condition than it year ago
The recovery reflected in the present active demand
for breeding animals to be used in rebuilding
flocks and herds Heavy rains and SHOWS during re-
cent weeks have benefited fall crops, stimulated
the growth of feed for livestock and practically
sured adequate supply of water for irrigation pu-
poses later in the year.
Industrial activity, which has been steadily in
creasing during the past year, continued through
December with less than seasonal elimination. The
volume of trade in the lumber industry was approx
matey so per cent greater in December 1922 than IN
December, 1921 The mines of the district have tenn
porary at least stabilized production at levels much
above those prevailing year ago. The total value OF
the districts production of five principal metals (god
silver copper lead and zinc) Sl6534O47l IN 1922
compared with S101 63S,967 in 1921. Production of
petroleum in California continues to exceed consump
ton and stored stocks were increased by 143OO4 bar
rels during December, reaching the record figure Of
61,184S29 barrels on January l, 1928. Building per-
mts issued during December, 1922 were greater both
in number and in value than in December 1921, but
the percentages of increase not great in
previous months Of 1922. The 1922 pack of canned
fruits and vegetables has proved to be the largest
produced in the district exceeding the small 1921 pack
by almost IS per cent Seasonal decreases in employ
two years
Reporting department stores of the district trans
acted the largest volume of business in their history
during the past Christmas Sales 119 per
cent greater in value than in December 1921 and 81
per cent greater than the previous record month of
December 1920 Sales in all of the 10 reporting lines
of wholesale trade increased in December, 1922,
pared with December 1921 the increases varying from
5 per cent to 81 cent and being Is per cent
in of the 10 lines Debts to individuals accounts in
banks the district outside Of San Francisco 116
per cent larger in December, 1922 than in December
1921 Including the figures for San Francisco the in
crease was 55 per cent. marked improvement in the
record of business failures noted during the month
They less both in number and in amount of lab-
tiles than in December, 1921.
The banking situation changed little during Deem
ber Loans of sc reporting member banks were less by
SS,432,C00 on January 10 than December 6. Total
deposits of the same banks increased from 81 22 49,
000 to the record figure of 81 261 900 during the
fveweek period They reduced their borrowings from
the Federal Reserve Bank by approximately so per
cent from S28O0O0OO on December to s14OOOOO0 on
January TO- Country bank borrowings were unchang
ed The demands of member banks for additional
rency to meet holiday and yearend requirements caused
the amount of Federal Reserve notes of this bank in
circulation to rise from S235,842,0O0 December Is
to peak of S244,596,O0O on December 27. With the
subSdence of business activity after the holidays this
total steadily declined to S2263880OO January TO-
Prices in general were relatively stable during
December. The wholesale price index number of the
United States Department Of Labor unchanged at
156 1913 prices-l00). Advances and declines in
the prices of the principal products of this district
almost equally divided and none was of signfi-
cant proportions.
Acreage sown to winter wheat in this district dur
ing the 1922-1923 planting season was 81 per cent
less than the area sown one year The condition
of the plant December J. 1922 in all states except
California, was below the 10-year average for that
date Weather conditions during December were favor
able for growing grains, rains and light in many
sections improving the appearance of the crop
The livestock industry of the district bene-
fitted during December by favorable weather and grass
conditions on the ranges, and by increases in local
market prices of all meat animals.
The prncpal feature OF the month at the livestock
markets of the district the large increase in re-
ceips of hogs 80 per cent having been shipped
than during November, 1922, and "A per cent more
than during December, 1921. AS in November 1922 a
considerable proportion of hog shipments originated
within the district. The movement of cattle and sheep
70 market declined seasonally during December 1922
Sheep receipts were also less during December 1922
than during December, 1921
In anticipation of the seasonal increase in butter
production during the spring dealers rapidly reduc-
ing their cold storage holdings. Withdrawals during
December at the four principal markets of this district
amounted to TAI 1893 pounds and holdings on January
], 1928, had been reduced to 437 06 pounds figure
considerably smaller than reported storage stocks on
January J. 1922, which high result of the i'm
portation of considerable quantity of low priced but
ter from Australia during the latter part of 1921 Dur