Imperial Valley press., 1936-06-08
BUILDING MART
SHOWS GAINS
DURING MAY

90
According to the Monthly Sum,
mary of Business Conditions Of
Southern California just issued by
the research department. Security
First National bank, the general
business outlook is optimistic with
decided improvement in the build,
ing and real estate market. This is
particularly true as to volume of
sales consummateu.
says the Monthly Summary
Deeds recorded totaled l0,477 IN
Los Angeles county during April.
This figure compares with 1866 a
year ago and 1916 in the depres-
sion year 1898. Escrows, another
indication of the volume OF sales,
are showing similar gains; the
number handled by this bank dur
ing the first five months OF 1886
exceeded the corresponding period
a year ago by about 50 per cent.
Statistics on real estate loans reveal
that $3.50 trust deeds and mort
CAGES exclusive of HOLC) were
filed in the county during April.
This is a gain OF Sc per cent over
April year ago"
indicative of the improvement IN
residential building is the compar-
ison of 1896 TO date with the like
periods one and two years ago. In
1884 new residential permits in
Los Angeles called for an average
monthly expenditure Of SAL 1888
last year s1,l58640, while the
monthly average for the first quar-
ter of the present year has reached
the large sum of sl863, ,422. This
is an increase of over 300 per cent
over TWO years ago and go per cent
over last year
Los Angeles department stores
sold approximately los per cent
more merchandise per business day
in May than in the corresponding
period of 1885. This banks index
of local trade which is designed to
reflect the general level Of activity
free from seasonal influences, stands
at 1913 for May, unchanged from
the April level o far this year the
department stores have not been
able TO exceed the record of Nov
ember, 1885, when the index rose TO
807. the highest in the current re-
covery
Other southern California com
munities made showing similar 10
Los Angeles in a ma jority of cases.
Gains over May, 1885. in cities
such as Glendale, Long Beach, AL
hambra. Fullerton Santa Ana and
Santa Barbara averaged between
10 and Is per cent. While Fresno
Tulare. Hanford, Visalia and few
other San Joaquin Valley towns
made good records, a number
showed losses as compared with
last year. El Centro merchants eX-
perienced an increase of approx
mately 20 per cent. reflecting i'm
proved agricultural conditions in the
Imperial Valley
In the wholesale field. electrical
supply, hardware, and farm imple-
ment sales continue to make large
gains over 1885.
Industry
Building activity increased sharp
~ during May TO 90l preliminary
per cent of the 1880 level. Residen
tial construction was maintained at
the active rate of March and April
and total industrial, commercial and
public building was increased.
Among the latter types Of construc-
ton. motion picture studios, schools,
and municipal projects were i'm
portant. Los Angeles permit figures
reflect the expansion which con
tinues TO appear in home building;
during the first five months the
number Of new family capacities
increased 14l per cent over the
number for the similar period of
1885 Apartment building is assum-
ing more importance in the dwell
ing field as recovery progresses,
housing of this type showing a rise
of 268 per cent for the year as com
pared with l08 per cent for single
dwellings.
The $50 2,OOO, 900 school building pro-
gram of Los Angeles Is not yet in
fun swing, only s597,e00 in permits
having been issued in May. Most Of
the projects are scheduled to com
menee IN June and to be under full
construction by August When this
large volume Of work is added TO
the amount Of private building now
in progress, contractors expect
wage rates 10 increase by as much
as 50 per cent Such a change
woalld increase the cost of residen
tial building materially and. IN the
opinion of many observers might
interfere temporarily with the eX
pansion OF residential facilities.
Dl TJt