New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-11-01
THE BIILDING INTEREST.
DEPRESSION NOT YET FELT-A DULL SPRING PRE-
DICTED-FEw PLANS FOR NEW STRUCTURES.
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DEPRESSION NOT YET FELT-A DULL SPRING PRE-
DICTED-FEw PLANS FOR NEW STRUCTURES.
A number OF the leading builders were
visited yesterday by TRIBUNE reporter for the pGr
pose Of learning the present condition and the future
prospects OF the building interest At the Building Per
init Bureau No. FOurthave., he was informed that
plications Tor permits 10 erect buildings had
Gently been almost entirely suspended and pre-
dcted that the building interest would be dun for many
months TO come The depression IN the business
ported to be perceptble in the cOstier kinds Of
buildings than any others.
Commissioner John r. Yoorhis, who is officer OF the
Master Mechanics Association, ana has been enabled TO
learn the condition OF the building interest from fire.
quent contact with builders at their meetings,
saws the business does not seem to be much
affected as yet by the monetary strlngenoy,
except that there is difficulty in making
collections; hut he thinks 1t viii be sensibly af-
fected Spring. since those who would ordinarily
be making plans FOR next March, will hesitate about
gazing enterprises until the prospect brightens.
Very few contracts usually gwen out this
tuey are generally made IN March April. and May
for OF the year Leases expiring about May
contractors contemplating rebuilding ready to begin
the work OF tearing down. Work is usually begun
unimproved property about March l, as the
frost u out Of the ground He says less is doing this
wear than In any year since 1872. The falling of since
last year this time has been onethrd; and the de-
crease then from the business Of the six years Just
previous least 90 per cent The depression, lie
thinks will be cOunterbalanced in part, by the dimnu
ton in the cost OF labor and materials. Many OF those
likely 10 be thrown out OF employment are voluntarily
Offering TO work at reduced rates, and
increased time rather than face the hardshps
ouent upon being out Of employment during the Winter
Materials remain about the same as they have been all
the season through but there VIII DO falling on soon
in consequence Of the decrease in the demand. Work
now in progress will mostly be finished by FEB. l. and
this will afford employment for about onehalf the usual
number Of hands The men are generally working upon
the eghthour system and could not, at present, work
longer for lack Of light but If 1t possible 10 work
10 hours u the present condition Of the building inte
rest there would Dc difficulty in obtaining men 10 fill
up the extra time without extra pay one master
mechanic says his employees recently offered 10 have
their wages reduced from s. to s. go and TO increase the
number OF hours from eight 10 long daylight
would permit IL he could thereby guarantee them work
for the Winter The Commissioner thinks there will be
great suffering among the laboriug classes for months
70 come and that it becomes the authorities 10 bestir
themselves IN order provide the requisite relief The
few large buildings, Ike those OF THE TRIBUNE the
New Post-Ofce the Western Union Telegraph Co., now
in course OF construction, will, he thinks afford
parativey little employment for the large force likely
10 be soon clamorng for work. The masons viii have
their wages reduced from 81 10 s. 50 90 Nov l. but
action mas a been taken In regard 10 cutung down
Inc wages OF the carpenters. Most Of the buildings
Going in al present he says tenement houses, and
the effect Of the panic viii be t mostly IN houses Dut
an specuation on unimproved property.
+ q Hoe o., az No. 10 LiUerty place. VINO DO mis-
ceaneDus business, say they are receiving rev new
orders Last year tins time orders were sun coming
in They have employed at one time curing the year,
as many 800 men they now nave 70 Iet Tue fSduc
ton mas been gradual for several weeks ana parity III
accordance with their practice OF TINS season OF the year
They regard the prospect a. rather dlscourhsihg'
hi NJ smith at No IS North MOore-st, says nc does nj
fee the depression much yet Most OF his customers
are real estate owners ne has been unusually busy
ali te year work will fall on after Jan J. as II always
does At the beginning Of last year ne dldht nave
weeks work ahead. uo thinks his customers are Talk