Belington progressive. [volume] (Belington, W. Va.) 1912-1927, 1919-06-26

che = United OIaJeS, anu HeIlCe no Al
flux of cheap goods is to be expec-
ted. Further issues of bonds or
treasury certificates by our Govern
ment and loans placed by European
countries in this country will tend
to further increase our present cred
it structure. Against any consider
able reduction in bank credit the
while business community would rise
in arms.
Cost and Supply of Building
Materials.
IA. Government restrictions and de-
creased demand reduced the produc-
ton Of most building materials in 49,
Is. This reduction necessitated the
operation Of plants below their nor
NAL capacity and increased the pro-
portion that fixed charges bear to
total costs.
IS. Curtailed production during the
war resulted in low stocks of many
building materials at the signing of
the armistice.
IS. AS result of the increase in
the cost of living and of competition
with essential war industries for la
Dor, the wages Of workmen in the
building material industries were
raised. In some industries, largely
because of abnormal labor turnover,
the efficiency of labor was reduced
and labor costs mounted out of pro
portion to other costs.
H. Costs Of raw materials, trans
portation, fuel, taxes, sales, and
other items that make up total costs
have all increased.
IS. The increased cost of building
materials as whole must generally
be considered in the light Of curtailcd
production, low stocks, increased
costs of labor, transportation, fuel,
and plant maintenance.
10. Past experience has shown that
prices of building materials fiuctuate
! less rapidly than the prices Of raw
materials used in manufacturing in
dustries, such as metal ores, hides,
ETC., and than the prices of commo-
dities that are consumed from day
to day, such as food and textiles.
Building materials are not likely to
respond rapidly to any but marked
reduction in the general price level.
20. A marekd reduction in the price
of building materials is dependent
upon the reduction of the items
mentioned under 18. 1t is not to be
expected that wages, the largest
single time in costs, will be reduced
! in advance of a reduction of the cost
of living. In view of the mounting
operating expenses of the railroads
it is not likely that transportation
charges, very large element in the
cost of building materials, will be
lowered. With the maintenance of
the general price level the price OF
building materials as a whole cannot
well fall.
81. The index number for lumber
and building materials (not including
metal products) was in April, 1919,
1874; for building materials, including
iron and steel production, 1879; for
commodities other than building ma
terials, 211; for all commodities, 203;
for farm products, 228 100-July !,
1913-June 80, 1910.
%. Building materials are rela-
lively low in price.
The Wage Rate of Building Trades
men and the Cost of Living
23. The union wage rate of build
ing tradesmen in Al large cities in
the United States increased 28.5 from
1914 to 1918. Unskilled labor build
ing laborers, hod carriers, and helpers
enjoyed, as rule, far greater in
creases than skilled labor
81. Union wage rates are minimum
wage rates. In 1918, as a result of
a general shortage of labor, many
bilding tradeusmen were paid hourly
wages IN excess OF Cno union wage
rates. Overtime and bonuses fur
Their increased the ir earnings.
25. The cost of living for workers
in the shipbuilding districts rose So
SO per cent from December, 1914, to
December, 1918, according to reports
of the Bureau of Labor Statistics
The cost of living for the whole coun-
| try increased 65-70 per cent from
July, 1914, to November, 1918, accor-
ding to estimates by the Nationa
Industrial Conference, Board.
In March, 1918, the National In
dustrial Conference Board published
figures showing a slight reduction il
the cost of living increase Of 60
SIS per cent for March, 1919, ovel
July, 1914. However, since Marcel
the cost of food and shelter, the twt
large items in the cost of living bud