Imperial Valley press., 1931-07-06
JUNE BUSINESS
DECLINE HOLDS
NORMAL TREND

buSlllPSS ACTIVITY III bOo LaiiBNASS
and Southern California during
June was, on the whole, in con-
formity with the usual expectation
at this time of year. When 1T is
that it was in june
one year ago that the acute phase
of the present depression began, II
is worthy of note that variations
during the past month have not IN
dicated substantially more than the
slackening tendency which is char
acteristic of the early summer pc
riod. Commercial activity in eight
leading cities of Southern Califor-
mia, as measured by check transac-
tions, declined in the four week pc
riod ended June 25, i0.4 per cent
from the preceding four weeks. and
was 252 per cent lower than dur
ing the corresponding period OF
1880. The decline in physical vol
ume, however, has not been as large
as these figures would seem to in
dicate, inasmuch as present prices
of commodities at wholesale and re-
tail are substantially lower than
those of a year ago.
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:
While figures reflecting employ
ment changes during the month Oh
June are not available. the data in
dicates that the industrial employ
ment situation in Los Angeles
county during May, 1881, compared
more favorably with that in May
1890, than did any of the previous
months Of 1891 with the correspond
ing months Of last year. Produc-
tive activity III the industrial plants
located in the Los Angeles area dur
ing June was characterized by mix
ed movements. Manufacturers OF
goods which are directly consumed
experienced some improvement,
while lines dependent upon build
ing operations and other fixed capt.
tai outlays were somewhat quieter
than in May
Retail trade in Southern Califor-
MIA was maintained in June at
about the May rate, although below
the levels of June, 1890 Compared
with the preceding month, jewelry
stores gained moderately while
sales by mems clothing stores de-
clined and those of department
stores remained about the same IL
Los Angeles. In the wholesale clas-
sification, hardware, grocery, auto
mobile and stationery sales organi-
cations IN Los Angeles reported vol
umes in June about equal TO those
in May.
Declines were indicated in the
automobile tires and dry goods line;
and moderate gains in sales o1
drugs at wholesale.
The number and liabilities oi
concerns listed as failing during The
four weeks ended June 25, in South
ern California, increased consider
ably over those of both the preced
ing four weeks and of the CORE
spending period of 1880. Condition.
in the petroleum industry of Cali
fornia improved slightly during
June as a result of advances in tho
prices of crude oil and gasoline
and by further progress made ii
the curtailment of production. The
latest available figures which arc
for May, 1881, indicate that stocks
of petroleum products on the Pa
cific coast are continuing to de
cline.
The value of projected construc-
tion work in Los Angeles, repre-
sented by building permits issued
during June, 1881, exceeded that OF
May by a. small margin, but was
far below that of June, 1890. Tota
real estate loans made in Los An
geles county during May (the latest
month for which the information is
available), were 6.3 per cent below
the comparable figure for April
Sales of new automobiles in Los
Angeles and in Southern California
90 uitdohi SN Wy iiNN ppootliS1A Sh'
registration, declined during May
according to the latest published
figures.
Agricultural activities during
June were featured by large ship
ments of cantaloupes and water
melons of good size and quality
from Imperial Valley. Prices oi
cantaloupes are reported as being
so low as to return little or NJ
profit to growers. Oranges anc
lemons were shipped in large vol
ume during June. Among the dc
ciduous fruits. June l condition re.
ports indicate that in California
there will be increases in the yield'
of apricots and cherries and de.
creaseS in peach, pear, plum anc
grape crops as compared with las
season. Deficient rainfall during
the growing season has resulted il
short grain crops in California. Dut
to unsatisfactory pasture and range
conditions marketing of cattle anC
calves is reported to be heavy dur.
ing the summer months.