Imperial Valley press., 1931-04-04
IMPROVEMENT In
BUSINESS FELT
DURING MARCH

A larger volume of business was
transacted in Southern California
during March than in February,
due almost entirely to seasonal in
fluences that were operative in
many of the basic industries of this
region. There is, however, still in
sufficient evidence of any definite
change in the trend of general bus
iness. although fundamental con-
ditions are believed to be improv-
ing. Properly better balance OBJ
tains in the general economic sit
uation now than prevailed at the
beginning of the year. It is be-
lieved that the reduction of oper-
ations which has taken place dur
ing the past year has not been ac-
q ,mpanied by an equally severe
decline in consumption. Conse-
quently. stocks of goods, both in the
finished and unfinished state, are
thought to have been reduced. Bus
iness sentiment has probably i'm
proved as compared with the first
of the year. This improvement III
sentiment, of course, may not as
yet be taken as conclusive evidence
that business is definitely on the
upgrade or that the increase this
spring will be of more than season.
al proportions. Explanation of the
improvement in sentiment is prob
ably to be found in the growing be-
lief, as stated in recent issues of
this publication, that Cd business
hoe t,roho h1u raanhoI tho hottoy,1
of the depression, CD the ground
work upon which to base recovery
is being laid, and 90 activity must
necessarily be increased before long
in order to meet consumption re-
quirements. The opinion is still
held, however, that recovery, al
though it may get under way soon,
will come slowly.
This is the Introductory para
graph of the Monthly Summary of
Business Conditions in the Pacific
Southwest territory compiled by the
Department of Research and Serv-
ice of the Security First National
Bank OF Los Angeles, and released
for publication today The sum-
mary continues in part
Reports on the March volume of
manufacturing indicate at best no
more than seasonal improvement
in industry. 1t appears that pro-
duction is being maintained largely
on a basis sufficient to fill actual
orders. Operations in the petrol
cum industry during March were
about on par with those of Feb
ruary, but were reduced consider
ably as compared with activity in
March, 1880. Building activity in
! Los Angeles as measured by the
value of permits issued, showed a
seasoned increase during March.
Unemployment was relieved some
what during March, and it is eX-
pected that it will be further allev-
lated during the approaching
months as result of the ID sea-
sonal increase in the demand for
labor in industry, (2) federal and
state appropriation for highways
and buildings, and go measures
taken by municipalities to provide
for the unemployed. In this last
connection the voters of Los An
geles approved million dollar
bond issue on March 5 designed for
expenditure in public improve
mentS.
Trade at both retail and whole
sale in Southern California has
been we'll maintained during the
year to date. AS an illustration, de-
partment store sales in Los Angeles
during the first two months of
1881 were reported to be lis per
cent less in value than in the cor
responding period of 1880. while
preliminary reports indicate a
somewhat smaller percentage of de-
cline in March, 1881, compared
with March, 1890. In this con-
nection it should be stated that the