Imperial Valley press., 1931-06-04
MINOR CHANGE
IN BUSINESS
DURING May

Changes in industry and trade in
Southern California during May
were of only minor importance. As
a result the trend of business in
general, after making allowance for
what were probably seasonal tend
encieS, continued in the more or
less lateral direction which has OBJ
tanned during recent months. The
principal indicators of business,
however, reflected a declining rate
of operations during May. 1881,
compared with May. 1890. Gener-
al commercial activity. as measured
by bank debts in seven leading
Southern California cities during
May, 1881. increased IA per cent as
compared with April, 1881. and de-
creased 17.9 per cent compared
with May. 1880. In comparing cur
rent figures of bank debts. as we'll
as other data involving dollar val
ues. with those of a year ago. con-
sideration should be given to price
levels, which in the past year have
declined l9 per cent in the country
generally. according to the United
States Bureau of Labor Statistics
index OF wholesale prices.
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 service
of the Security First National Bank
of Los Angeles. and released for
publication today. The summary
continues in part:
Reports from representative con-
Germs in leading lines of manufac-
turing activity in Los Angeles and
vicinity indicate that production is
being held in close alignment with
demand. In some lines, notably in
the iron and steel. tire and rubber
oil tool and machinery and cement
industries. operations during May
were at lower levels than in either
April, 1881. or May. 1880, while in
the furniture manufacturing and
grain milling industries, plant out
put during May was about the
same as in April 1881. Business Of
meat packing companies during
May was smaller than in April and
larger than in May of last year
Petroleum production in California
during May, 1881. increased approx
imately per cent compared with
April and decreased 13 per cent
over May, 1880. Building activity
in Los Angeles. as measured by the
value of permits issued, declined
93 and SGT per cent during May as
compared with April, 1881, and
May, 1890, respectively.
The volume of trade at both re-
tail and wholesale in Los Angeles
and in Southern California gener-
ally, during May was only slightly
less compared with April and was
considerably smaller than in May,
1880, in most lines. Some improve
ment has occurred in the retail au
tomobile situation recently Sales
in Southern California durin g
April (the latest month for which
figures are avaliable) were larger
by a small amount than in any OF
the preceding months of this year.
Commercial lnSolVencleS IN SOUTH
ern California during the four
weeks period ending May 21, 1881,
were less both in number and in
listed liabilities than during either
the preceding four weeks period or
the corresponding period of last
year.
Agricultural operations in South
ern California proceeded normally
during May. Citrus fruits, canta-
loupes and vegetables were shipped
in large volume to consuming GEN.
ters but at considerably lower
prices than prevailed in May. 1890.
On the basis of May l reports, fair
to good yields of the principal fruit
and nut crops are expected by
growers in the state.