South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-06-15
BUILDING STILL
ON THE INCREASE
Totals for 104 Cities Show
Gain of 128 Per Cent.
Over Last Year.

Building operations continue 70
gain IN volume. Rradstreets report
for 1o4 cities during May shows to-
tai expenditures OF more than S56.-
900. 900, a 12s percent gain over last
year. Maintenance Of this average
BY the remaining cities which did
not report would bring tho total 10
SI1e. 900. tho third largest
monthly aggregate ever recorded.
Contracts let for the week ending
May IS in the territory east OF the
Missouri and north OF the Ohio riv-
ere, according to the department Of
labor. total nearly $4,000. 600. and
II maintained throughout the month
would greatly exceed the May totai
for any previous year. Permits
issued at Chicago. Indianapolis, De-
troit. Grand Rapids. Lansing and
other cities show a gain over last
year ranging from 90 10 $50 percent.
Think Time j. Favorable.
The feeling prevails that now is a
than later. The materials market
reveals an Enthusiastically upward
tendency. stocks OF hardware. tools,
electrical and plumbing equipment.
lumber and cement are only mOder-
ate and would prove inadequate
should marked activity develop.
Lumber suffered six revisions with
in so days, all upward. The west
ern mills are behind in filling or
ders. some yellow pine manufac-
turers have taken steps 20 check the
rise OF prices. in order tha- building
may not DO discouraged.
Charges Of profiteering in the sale
OF materials are rife, but do not find
support in concrete evidence. sam
uel Untermeyer indicts so-called
criminal combines in New York
city. Manufacturers declare they
are making strenuous efforts TO
keep prices down, so that building
may resume. Their plea has the ap-
pearance Of reason, inasmuch as
profits during periods of inactivity
are negligible. Building at a nomI-
nal profit is better than no building
at all.
Want of Funds Factor.
Want Of funds obtainable az low
interest on a long-term basis in
trudes a factor upon the building
situation which many feel has great
II delayed the erection Of homes.
Sen. Calder OF New York recently
introduced a bill in the So nate es-
tablishing a federal home loan board
and home loan banks, not unlike the
farm loan system. The bill would
make available for building a large
part of the $4,000. OOO, 600 in gold
assets held Nv the cOuntry's build
ing and loap associations. II has the
virtue OF affording speedy relief TO
the prospective home builder OF
moderate means, however open 70
criticism may be it's detailed provl-
siOns.
Rent Increases have aroused vio-
lent antagonism between landlords
and tenants in a few eastern cities.
and rent riots have been forecast
The landlords position IS similar 20
that or many public utilities. His
costs Of upkeep and replacement
have risen far out OF proportion to
his rents. His rental income, IL un-
impaired. still represents a lesser
buying power than If the dollar had
its pre-war value. The tenants pro-
test against moderate rental ad-
vances has little real Justification.
II building il 70 have attractions
for capital. just at the time when
Il is most needed. points out the
Merchants association OF New York.
there must be a different attitude
toward rents. The association urges
exemption from federal income tax
OF interest upon real estate mort
CAGES, within certain limits-a pro-
vision which Sen. Callers bill also
includes. -.