Imperial Valley press., 1934-03-06
BUSINESS CONDITIONS REMAIN
FAVORABLE DURING FEBRUARY

! The trend of business conditions
| N Southern California remained
favorable during February, a month
marked by improvement in the
market for bonds of California
municipalities and other public
bodies, it is reported in the Monthly
Summary of Business Conditions
published by Security First Ma
/ tional Bank.
A revival of the demand for in
VeStment securities within the near
future is regarded by most observ-
ers as essential to the establishment
OF the normal process of economic
recovery. Another factor which
may be expected to have an import
ant influence upon economic condi-
tions in coming months, the busi-
ness review states, is the rising
course of Los Angeles bank depos-
it's During February they reached
the highest level of the recovery
period.
Preliminary reports indicate that
retail trade in Los Angeles was
maintained at the January level
when seasonal factors are taken in
to consideration. Sales of local de-
partment stores were between 10
and II per cent larger than in
February, 1888. In rural commun-
tiles trade was of about the same
volume as in January and substan-
TALLY better than in the similar
month year ago.
In the field of industry furniture
manufacturers made the most fav-
orable record in some instances
reporting production increases of
as much as so per cent above the
previous month. Tire and rubber
factories maintained the relatively
improved position apparent in jan
uary. The oil tool business was
somewhat smaller in February than
in preceding periods, while steel
fabricators experienced little change
as compared with December and
January. The activity of the lat
ter industry depends largely upon
construction work which, aside
from certain public projects, re-
mains quiet.
Reports from communities locat-
ed throughout the southern part of
the state show moderate i'm
provement in the market for real
estate during the past year, the
business review notes, continuing in
part as follows: "While prices are
still relatively low, they have re-
manned stable since the first part
of 1888. In some localities small
increases in sale values are report
ed while property in all areas is
said to be more firmly held.
Prices Advance
The activities of the federal agen-
cieS in refinancing residential and
farm mortgages are having ben
eficial effect on the real estate sit
uation in Southern California, ac-
cording to observers.
perhaps the outstanding fea-
ture of the agricultural situation
in February was in the advance in
wholesale commodity prices which
occurred during the month. FISH
er's index of 100 commodities rose
from 72.1 on January 20 to 74.2 or
February "a. This gain of 80 pei
, cent is the most extensive movement
: since the spectacular increase il
the spring and early summer Of
1888.
1.-The volume of trade at retail ir
Los Angeles was we'll maintained
curing February. Preliminary fig
,, ures, adjusted for seasonal varia-
: ton, reveal that it was substantial
ly above the recent low point of
last November but somewhat below
the level of last summer. With
the exception of few lines such as
cotton goods there have been but
few changes in retail prices during
the past month. Most authorities
are of the opinion, however, that
a renewal of the upward trend in
the cost of merchandise is in pros
pect for coming months as newly
purchased goods replace older
stocks.
Reports from the smaller COM
munitieS of Southern California
show retail sales in February to
have been larger than those of a
year ago throughout the area. In
comparison with January of this
year, however, only eight of the 81