The Washington times., 1923-04-21
SEASON IS
LOOKEDFOR
IN CALF
Opening Quarter Of 1928
Finds Section in Fine
Economic Condition.
BY WILLIAM PARKER.
coanopoIithn News service.

BY WILLIAM PARKER,
Cosmopolitan News Service.
LOS ANGELES, Cal, April 81
THE opening quarter Of 1923 finds
southern California in excellent
financial and economic condition.
In Agriculture, there may be re
corded less optimism than in other
lines, owing to a prolonged absence
of rain. Building activity. however.
tops the list, for it shows an in
crease Of IS per cent over the open.
ing quarter OF 1922.
A poll of banks shows that clear
inSa exceed those of the first three
months of 1922 by approximately IA
Der cent. Savings deposits are now
very considerably in excess OF de-
posits March 1, 1922. During the
last three or four months these de-
posfts have increased rapidly.
Not since 1900 has the rainfall IN
southern California been 80 siignt
an during this season. While tne
effect of the untimely dry spell VIII
be felt in varying degrees by the
different agricultural industries. the
shortage of moisture. nevertheless,
has injured all OF them to some ex-
tent. and for the region, a. whole,
lie win be the cause OF an appreci-
able reduction in agricultural In
come.
Among the producers most e.
fected by the dry weather VIII De
the grain and hay growers. the
potato producers and the bean
farmers.
The grain crop. according to re-
ports, has been badly hit by the
drouth and the grain hay crop has
been and VIII be materially reduced.
Opinions differ as to the effect OF
the lack of rain on the alfalfa
producers. 1t is pointed out that
most Of the alfalfa In this region
is produced on irrigated land and
that large supply OF water from
last years heavy precipitation and
from heavy SHOWS in the mountains
during the winter is available.
Though not given the attention
other crops receive, the hay crop
OF Southern California Is one OF
much Importance, standing probabl
third or fourth among the agricus
tural products Of the region.
The potato crop will be cut dow
at least 90 per cent, 1t 10 believed
It Is also likely the bean acreage
particularly Of linlas. win be much
smaller.
Citrus fruits, the regions mos
important soil crop, have beer
moving at prices sufficient to re
turn a comfortable profit to the
owner.
Orange prices have been compare
tive steady since the beginning OF
the year and though lower than
year ago are higher than in 1921.
This seasons lemon crop will be the
second largest in history and prices
so far this year have exceeded those
Of previous years by q good margin.
In spite OF predictions the sugar
beet acreage Of southern California
will not greatly exceed that Of last
year. Contract prices guaranteed
to the growers by the sugar factories
are 28 per cent higher than a year
ago and the returns for the 1922
crop have 50 far been very good, and
growers will reap q substantial
profit,
Walnut growers in southern Cali
fonnia will receive approximately
$12 900, 900 for the 1922 crop, and
compared with the previous season,
are in a much more favorable finan-
cial situation.
High prices for cotton and the pos
sibility of q world shortage IL lead
ing to a great increase in acreage
throughout the Southwest.
To the total value of products
manufactured in this district, mo-
ton pictures make the largest con-
tribution. The motion picture COM
panies have practically completed
their adjustment to postwar condi-
tons and most OF the undercapital-
lied and improperly financed COM
panies have been eliminated. The
business revival throughout the
country has created a great de-
mand for good films and predictions
are that 1928 will be the record
year In the industry.
The building boom goes on un-
abated. and the various industries
furnishing building materials are
prospecting accordingly.
The production of petroleum rises
to q new record each month and
each month storage stocks increase.
While the crowded condition of
some Of the fields invites specuia-
ton as to the profitableness of
the industry to many of the oper-
ators, as a whole the petroleum
industry is making tremendous
strides in southern California.
Industrially, the outlook for
southern California was never more
encouraging.