Imperial Valley press., 1927-01-06
YEARS BUSINESS
SHOWS INCREASE
in SOUTHW EST

General business in the Pacific
Southwest territory during the year
Just closed shows a substantial gain
over 1925 in most lines of activity.
The customary indices, with but a
few exceptions, have registered IN
creases of from 4 to Is per cen:
over last year. Distribution at re-
tail and wholesale has been good,
industrial operations have been
large, labor has been well employed
and credit conditions have been
sound.
This is the Introductory para
graph of the Monthly Summary of
Conditions in the Pacific South
west compiled by the Research De
partment of the First National
Bank of Los Tngeles, the Pacific
Southwest Trust and Savings Bank
and the First Securities CO., and
released for publication today. The
summary continues in part,
The volume of trade has been
good during recent weeks. How
ever, there are indications that the
seasonal increase during the fourth
quarter of the year was not as large
as usual. December bank clearings
and bank debts in Los Angeles
show gains of 5 to per cent over
December, 1925, and increases of IL
to Is per cent over November, 1926.
The totals for the fourth quarter
were 7 per cent greater than for the
same period last year, but regis
tered increases of only 1-2 per
cent over the third quarter Of this
year in contrast to similar gains of
8 to II per cent in the two previous
years. Bank debts in agricultural
centers have been slightly less than
last year and also show a smaller
than usual increase for the fall
months.
The 1926 agricultural record,
while spotted as to individual crops
and districts, was on the whole reas,
onably good. In general, produc-
ton was above normal, due to fav-
orable growing conditions, but in
many cases net returns to growers
have been less than last wear as \
result of lower prices. Transporta
tion facilities and labor supplies
were adequate during the season.
The outstanding gain was in citrus
fruits where total shipments and
aggregate roturns were the largest
in the history of the industry.
Production OF deciduous fruits
was short in the southern districts
but greater than usual in the San
Joaquin valley. Canning and dry
ing operations absorbed most of the
output at prices ranging from fair
to good. The grape season was fcl-
tured by heavy production, good
quality, moderate shipments and
low prices. Raisin tonnage was
considerably larger than in 1925.
The quality was excellent and the
markets are steady. The walnut
crop was only 40 per cent of last
year s, but almonds doubled in out
put.
Field crops suffered more than
fruit crops from declining prices.
IOuuCtioii VI DtdHS anu COTTON WAS
very good, both in volume and per
acre yields, but prices are from 80
to so per cent below last season. The
alfalfa ard hay crops were large, >,
and prices fair. The output of
grains was in excess of 1925 with
prices reasonably good except for
barley. Vegetable interests expert
enced several strious marketing loss
es, due to variety of causes. The
livestock and dairy industries con
sistently maintained strong posi-
ton during the year.
The outlook for the new crop
season is definitely encouraging.
With intermittent rains during the
last six weeks, seasonal precipita-
ton is above normal everywhere.
The snow-pack in the mountains is
far ahead of recent years. Prepara-
tions for next year s crops are un-
der way. The new citrus season
gives promise of equalling or sur
passing the past record crop. Dam
lge from severe winds and low tenn
peratures has been spotted and
Comparatively small, being largely
confined to unprotected groves.