Imperial Valley press., 1929-07-13
QUIET TONE in
JUNE BUSINESS
REPORT STATES

Business activity in Southern Cali
fornia and i'll the Pacific Southwest
territory generally was maintained
ut rate slightly less ohan that reg
istered in the preceding months of
this year. although in some lines ac-
tivity either .equaled or exceeded
that for June lass year. The decline
may be ascribed to seasonal factors
and is normally to be expected al
this time of the year.
This is the introductory paragraph
of he Monthly Summary of Business
Conditions in the Pacific Southwest
territory compiled by the Research
and Service Department of the Seeu.
rity-First National Bank of Los An
geles, and released for publication
today. The summary continues in
part:
Industrial output, in the aggre-
gate, continued at high level dur
ing the month. Activity in the
petroleum, iron and steel, and auto.
mobile tire industry was reported
above that of May 1929. and June.
1928. in few industries, notably
mea5 packing and furniture manu-
featuring, some seasonal eurtail-
ment in operations was noted during
the month. Building operations in
Los Angeles declined during the
reriod both as compared with the
previous month and wi5h June a
wear ago.
Total volume of check transac
tIons thank dCbitsD IN Les Angeles
was - per cent less during June,
1929, than during the same month Il
,'ear ago, due in pact, to the fact
Jndt tnJ~c was OH" IesS DGSinV~s day
in the monh this year, and in part,
to the fact that there was a large
decline ia speculative activity. To-
tai ;ransa ctions of Jhc Los Angels
stock market declined 10 per cent
nu;i, 9 tn period coD,t cred with the
same month last year. Bank dehirs
in s cities, exclusive of Los Ange-
les, in he Pqeific-SOatEwcsf terri
tory rccoi6ed an increase of so per
cent during the four weeks ending
June ~, 1923, c0mparc1 watt the
same period in June, 1923. Business
tam res in Southern California dur.
me- the fear weeks end; ig June y.
vcre lrss il number tham in any
>r''t 'a' per.uI sincc December, 1926.
Merchandise distribution at both
ri ail ana wholesale was reported
by representative stcras u: bcirg
slightly greater during the mont;l
than in June, 1928.
Tho general outlook for .'ruit cro1s
IL Southern California is good, al
In' gh tho scason is fr,n two to
three weeks later than normal
WcatlIe' conditions during the month
were favorable for growing crops,
except in the San joaquin valley
where Slight damage to grapes was
rcpor;cd, owing to excessive tenn
pcraturcs prevailing during the lat
ter part of the month. Crops in
practically all producing districts
are fee from any serious pests
and disease, although the usual care
has been taken to prevent their oc.
currence.
Shipments of citrus fruits were
at unusually high levels during
June. Prices on orsnges improved
slightly as compared with May, but
were substantially below the quota
tions Of June, 1923. The movement
to market of the Imperial valley
cantaloure crop this season to june
26, has been 90 per cent less than
in the same period last year. Both
quality and prices of this years
shipments have been better than
last year.
The cotton, bean and walnut
crops progressed satisfactorily dur
ing the month in most producing
districts. The condition of live
stock ranges, hay and grain con
tinucd poorer than last year, and is
a reflection of the lack of rainfall
which is so necessary for those crops
grown on unirrigated land.