Imperial Valley press., 1936-07-08
BUSINESS on THE UPSWTNG

BUSINESS On THE UPShfNU
Business is good And that goes for
businss here in El Gentro in Imperial
Valley, in Southern California, in the
entire country
Anyone who motored to the coast last
weekend saw prin1a facie evidence that
business is far on the upgrade and that
the depression is now a thing of the past.
San Diego hotels were packed and Jam
med. Beach resorts were swamped with
demands for accommodations which
they were unable to provide. Visitors
were compelled to stay in roomlng
houses. or sleep in cars IN garages,
while others. still seeking accommoda-
tions motored as far as distant Santa
Ana. before finding a hotel with va
cancy.
Traffic on the highways was heaviest
in wears. Stores lunch counters,-eYery
place was doing a land-office business III
everything Everybody had money to
spend and what's more, they were spend
ing it. No sudden visitor from space
would have had reason to believe tfere
had been depression starkly staring thlS
country in the face but short time ago.
That business is good IS evinced by
the manner in which summer trace IS
holding up according to Ell Centro busl-
ness houses. Many merchants report
sales are as much as 25-per cent ABOVE
June of last year =. rough estimates
indicate that the average would be some
where around 15 to 20 per cent. There
are so many new car sales that dealers
are having difficulty supplying. the de-
mand Womens clothing, mems CLOTH
ing, the furbelows and more and more
luxuries are enioying good, increased de-
mand.
That this improvement is not merely
local. but prevails throughout the coun-
try as a whole-despite the recent set
backs resulting fro m MD western
drought-is shown by the stock market
bealthiness. and such reports from the
money markets as:
The Bond market bids fair to consume
two billions in corporate and munlclpai
bond offerings during the first half
year. with indications this rate Will con-
tinue throughout the year. Ihls does
not include the Federal Land Banks eX-
tensve financing, nor refundlng issues,
some of which were on very large
scale.
Figures for MAY show that Califor-
MAS employment rose to l5 percent over
last year, and average weekly wages IN
creased an average of 8.5 per cent. In
dications were that June figures would
be slightly higher.
Detroit reports that June new car
sales will be far ahead of last year and
very close to those of May this year,
month when sales rose to a height eX-
ceeded by only three months in the his
tory of the industry. Many motor COM
panies have reported new records, IN
cluding Chrysler which, during the week
of June 20, established sales record
and General Motors which has shown
big increase in percentage sales. Many
others report the largest sales for this
time of year since 1929 or 1880.
Coast cement mills are increasing out
put: the power industry shows record
production: rail earnings in June reach
ed new 1886 record dividends
throughout industry show pronounced
improvement; more investment money
is appearing at brokers windows.
Now that business is returning to nor
NAL, it becomes eyeryone's responsibility
to keep it there The national election
will be an economic election, the people
voting on which and what policy they
believe will be most effective in Wardlng
off another disastrous depression, and
what policy will best maintain an equit-
able distribution Of buying power and
a more perma.ent plan for business