Imperial Valley press., 1932-02-27

one small white spot in Texas
does not particularly brighten the
map of business conditions in the
United States, as shown for Feb
ruary |, but in the opinion of
many it may be the forerunner OF
additional white spots and at least
it relieves the solid gray and black
of last months map. The first
month of the new year in business
showed year-end continuation of
low speed in industry, as pointed
out by Frank Greene, of Brad
streets, in his monthly summary
for Nations Business magazine.
Yet industry, he says, made bet
ter showing than either wholesale
or retail trade.
Some individual happenings of
the MONTH" states Greene, were
grave, almost somber, in character.
Foreign trade and trade balances
were the poorest since the World
war began; railroad earnings were
the slackest since the ending of
that conflict; commodity prices
made the lowest levels since early
1900, bank suspensions, although
not as numerous or as grave as
in the autumn and early winter
months of 1881 and 1880, were still
heavy, and business failures set up
a new record in number, although
not in liabilities.
"On the more favorable side of
the account might be mentioned
agreement between the railroads
and their personnel on a 10 pN
cent wage cut. This, coupled with
the rate advances granted may
prove the most encouraging feature
appearing in two years. OF posi-
bly, equal value was the movement
in the building industry to reor-
ganize wage scales with the aim of
preparing that great ready-money
industry for future expansion. OF
the trades actually showing real ex-
pansion in output, the automobile
| industry with it's steady rise since
last autumn deserves notice as
providing the chief source of new
demand in the steel industry.
Wholesale trade" Green con-
tinueS, did not expand over Dec
ember; retail trade did not, of
course, expand in this month eth
er, but the decrease in 1881 over
1880 is slightly less than in 1880
over 1929. Industry showed a gain
in January over December but the
increase was not as large as it was
last year and collections showed
small gain where a decrease was
shown last year. This change may
reflect slight easing in the fin
ancial situation
Robert Hays, manager of the Ell
Centro Chamber of Commerce,
states that in the business survey
of local conditions made on Feb
ruary l, general feeling of opti-
mism was evident among retailers
and growers and shippers, which
was not observed during past three
months. Indications are, based on
reports received at the chamber,
that Imperial Valley is not going
through a depression such as many
sections of the country, but is adj
juSting itself to the period of re-
construction which must be faced
by the entire United States.
With a national decrease in re-
tail sales and drop in California
which averages so to go per cent"
states Hays, local merchants realize
that business must be conducted SO
as to meet the decrease in sales
and they have taken immediate
steps to keep their business sound.
This fact, coupled with the addi-
tional fact that in Imperial Valley
is but 10 to 80 per cent below nor
NAL, insures the business firms of
Ell Centro and other valley cities
against further depression as long
as our crops are a success.
"The success of the carrot and
early tomato crops, together with
the satisfactory price which lettuce
brought last month, is already hav-
ing an encouraging effect on retail
business, according to local mer-
chants, combined with a normal
sales increase usual at this time
OF year We find generally an op-
tlmistic outlook locally, not that
prosperity is just around the corner
nor that one just has to wait for
the return of normal business, but
that Imperial Valley has entered
the period of reconstruction and
that by careful management present
conditions can be met successfully.
Our busines men have sound ideas
and we believe that the community
| generally is in better financial con-
dition than the majority of sections
of the country"