Imperial Valley press., 1932-06-08
MAY BUSINESS
SUMMARY SHOWS
MORE DECLINES

Although some favorable devel-
opments were observed, declining
tendencies were apparent during
May in a majority of the leading
lines of business carried on in
Southern California.
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 SER
vice of the Security First National
Bank of Los Angeles, and released
for publication today. The sum-
mary continues in part:
Sales of electric energy for in
dustrial purposes in the metropoli-
tan area of Los Angeles increased
moderately in April (the latest
month for which figures are OBJ
tainable), over the preceding month.
When compared with the figures
! of a year ago, the current data
show a decline in the consumption
of this kind of power of approx
imately Is per cent. After making
allowances for seasonal factors and
technical developments, the Statis-
tics of electric energy utilized by
manufacturing plans are believed
to constitute a fairly accurate in
dex of general industrial activity,
I During the second half of May
the average daily production of
crude oil in California was reduced
considerably from the level main
tanned in the previous two weeks
as a result of restrictive measures
put into effect in connection with
the voluntary curtailment program.
Activity in local motion picture
/ studios, as measured by the number
of extras cast, increased steadily
from month to month from Janu-
cry to April, inclusive, of this year.
! During these four months the total
number of extras cast was 62,026 in
contrast with SAIL in the cores
ponding period of 1881.
The total of debts to individual
accounts in eight of the principal
cities of this region, including Los
Angeles, was 11.93 per cent less
/ during the four weeks ended May
25 than in the preceding period
of similar length. Preliminary fig
ures compiled by r. G.. Dun 81
Co. from reports received by that
organization indicate that the num-
! ber and listed liabilities of con-
Germs failing in the southern part
of the state were somewhat larger
in May than in April. When
measured by building permits is
sued in the city, construction &C
tivity was of smaller proportions
during the last month than in
April. Those industries dependent
primarily upon structural under
takings. in turn, experienced COM
paratively light demand for their
products. With the exception OF
grain milling concerns, which in
creased their rate of operations
somewhat during the month, the
majority of local industries report
ed declines or gains OF less than
seasonal extent
The sales volume of Los Angeles
department stores in May COM
pared less favorably with that of a
year ago than was the case in spe-
cialty lines, although in this latter
classification the showing was not
particularly favorable. While the
trade of wholesale grocers increased
slightly, moderate declines, after
making allowance for seasonal fac
tors, were indicated in most other
jobbling lines.
Prices of oranges and lemons
strengthened in May, reaching al
the end of the month levels above
those of a year ago. The cool and
foggy weather which prevailed dur
ing considerable parts of May i'm
proved soil moisture conditions In
a number of areas and was gener-
ally favorable to growing vegetables
Harvesting operations and cultiya'