Imperial Valley press., 1932-09-06
PUBLIC SENTIMENT ON BUSINESS
ACTIVITY SHOWS IMPROVEMENT

The outstanding development in
the economic situation in South
ern California during August was
a marked improvement in public
sentiment regarding the future of
business activity. This favorable
change in the local outlook occur
red simultaneously with a general
renewal of confidence throughout
the United States. Although the
factors instrumental in producing
the movement are principally ma
tional in origin, many of them
promise to be Of definite benefit
to the Pacific-SouthweSt. The ad-
vance in Professor Irving Fishers
wholesale commodity price index,
from 609 for the week ended July
% to Gig for that ended August
26. was caused in large measure by
increases in the value of agricul-
tural products. many of which are
grown in this area. Furthermore,
higher quotations on both bonds
and stocks gave new encourage
ment to investors. OF particular
significance was the decision to
locate one of the u federal home
loan banks in Los Angeles.
This is the Introductory para
graph Of the monthly summary of
business conditions in the Pacific
Southwest territory compiled by the
of research and service
Of the Security-First National Bank
of Los Angeles, and released for
today. The summary
continues in part:
From the statistical point of view,
little change in the general level
of economic activity in Southern
was noted in August as
with the preceding month.
The volume of trade at retail in
creased during the period in accord
ance with seasonal expectations
and, in a few instances, merchants
we're able to make better than
normal records. In the industrial
field, manufacturers of furniture |
the largest increase in |
activity, as a result OF |
he trade show held during the |
month. Concerns preparing food |
products from grains and livestock |
conducted operations at approxi-
nately the same rate in August as |
IN July and slightly below the !
showing Of year ago. The oper- |
atoms of firms producing and dis |
.ributing materials for use in the |
building and construction industries |
effected the reduced business in |
hese fields.
Normal Decline Found
Aggregate liabilities of CONNER
,ial organizations reported as failed |
we're larger in August than in the
preceding period, according to data |
compiled by r. G. Dun & Company.
During the four weeks ended Aug
Ist "a. the value of bank debts
n eight leading Southern Califor-
liza cities, including Los Angeles,
vas 6.3 per cent less than the pre-
,eding period of similar length.
However. a decline in this figure
5 normal at this time of the year.
The position of many ranchers
md fruit growers was improved |
turing August by advances in quo
,ations on cotton, beans, grains, !
lemons, alfalfa hay, dried april
OTIS. prunes. eggs, milk, butter and |
,ther products. At the same time, |
me of the important sources of |
orchard and vineyard income in |
formal years, namely the movement
# fresh fruit to eastern markets.
As a consequence, loadings have
comparatively light and much fruit
ormerly disposed of in the fresh
tate has been either dried or LETT
The sugar beet har-
est is well under way with pro-
Iuction and sugar content salts
actory. Gathering of a heavy
1op of excellent quality walnuts
las commenced somewhat earlier
han usual this season.
Industry
While sentiment regarding the
,utlook for business during the
omirg year improved measurably
n August, reports received from
eading industrial concerns con-
aimed few evidences Of gains in
actory activity in Southern Cali
ornia. OF the seven principal
lasses of manufacturing surveyed,
Wo showed Improvements over the
preceding month, while the re-
naming five were characterized by
table or declining tendencies. The
most conspicuous gain the volume
= -a1or ,,I .arodIIption during /