Evening star., 1920-01-31

Financial interests Said to
Await Stabilized Prices Be-
fore Making Loans.

NEW YORK, January 31.-Greater
stability of cost to the consumer of
building materials and equipments is
the price being exacted by financial
interests when considering applica-
tfons for building loans. according to
the Dow Service Daily Building Re
ports.
The situation is becoming serious.
Some interests term the outlook criti-
cal. and have already taken forward
positions to try to stem the price
movement in it's needless course up
ward. 1t is time for strong minds and
level heads to step in and save a sit
uation that now begins to assume
threatening aspect toward years
possibilities. but which may easily be
turned into one of only mediocre vol
ume.
Are Unit In Protesting.
Dealers. manufacturers. contractors
and especially architects, are unit In
protesting any further advance of
building material prices. making the
building will be greatly curtailed.
Those whose position in the building
worla is close enough to the source OF
most building projects to understand
the controlling influences actuating
new building projects have realized
for some time that the price situation
regarding building materials and con-
struction costs has reached point
beyond which it IS actually dangerous
to go.
1t is even generally known in the
building trades that the banks or
financial interests have already set
a positive deadline beyond which they
will not go. 1t cannot be any longer
denied that there is a certain hes1--
tation ins financial circles regarding
4 ho svvnr, n1i fn fryfn
forthcoming presidential campaign is
good time to apply some counter
acting influence against the now
worn-out theory that people will pay
any price and put up with any in
convenience in order to get what they
want.
Judge Gary Sets Pace.
Judge Gary set the pace for the
building industry when he announced
that the United States Steel Corpora
tion's price on st eel would remain
where it was. Since then the ce-
ment industry has accepted the po-
sition that further price advances
| would be more harmful than bene-
fetal. Hudson river brick has been
whipped to a twenty-five-dollar mar
ket, but at that point this COM
modify is being shipped by rail into
dock has been allowed to await pur-
chasers. With every week bringing
the opening of navigation nearer, it
is quite likely that there will be no
further price advance in this COM
modify and the possibbilitby of
slight recession is not remote.
Upon inquiry in the cement industry
and among experienced dealers it
would seem that some of the leading
minds among the manufacturers and
endeavor to stabilize Portland cement
prices. The industry feels that all
forms of building and other construc-
ton work should be encouraged. The
broad-minded men Of the industry are
looking two. three and five years
money to educate the people into the
economical use of and new uses for
cement. Provision has already been
made for tremendous volumes of this
material. December Portland cement
shipments into this market were
greater than for any December in ten
years Shipments were 80 per cent
over December of 1918 and 70 per cent
over December Of 1917. AS for produc-
ton, more than 100000 barrels were
either 1919 or 1918. The stock on hand
at the. end of the year was million
barrels less than in 1918. There IS To-
day less stock of cement on hand Tor
use in this market than there has been
in any year in decade.
Shortage Of Cement Possible.
There seems to be a feeling among
owners, contractors and dealers that
there will be a shortage of cement
during 1920 or some advance in price.
or both. The cement interests are al
ready arranging for tremendous pro-
duction, striving to reach the total OF
46, 900, 900 barrels for the two zones
supplying this district. whereas 3o,-
900 900 barrels is the greatest volume
ever produced for New York consump-
ton. AS for this coming year. there
is actually the ability and will to
overproduce if restrictions are not
placed on the movement of coal, lime
stone, empty cars, and on the finished
products.