The Washington herald., 1920-10-10
BUILD AT ONCE,
URGES STRAUS
No Profit to Be Gained in
Delaying Plans for
Construction.
MOST URGENT NEED
Demand for All Kinds of
New Buildings Continues
To Grow.

There has been mrh hesitation on
the part of many interests regard
ing new building projects, but it is
quite evident that, in the opinion of
s. w. Straus & Co., nothing is to be
gained by putting OF building
plans. With regard to this point.
5. W. Straus & Co have made plain
| their attitude in the following state
mene:
The demand for new buildings
both for residential and business
purposes continues to grow. Rents
are continually advancing and 1t is
not likely that they will become sta
bilized soon. This is particularly
true in New York City. where the
housing, shortage is becoming acute
conditions in the labor market
Transportation delays and shortage
OF building materials have combined
to keep down new construction
work. The demand, however, for
space continues to be augmented
with the expansion of business. the
increase in population and the gem
orally manifested desire of the pub
lie for better standards of living.
The widespread shortage of
buildings in this country is a him
drance to general business develop
ment and a disturbing factor in our
social and economic life. Every
possible effort should be made, there
fore. to relieve the acute situation
that exists, The only way this can
be accomplished and conditions re-
stored to normal is through addi-
tional buildings.
Nothing in our national life to-
day is more urgent than the need
for more buildings throughout the
country.
while the demand for homes is
more acute than for structures OF
other types. there is requirement
for buildings of every description,
and each new project that becomes
an active operation helps the gen
eral situation. 1t must be borne in
mind that the longer new work is
delayed the more serious the hous-
| ing situation becomes We have
| fallen so far behind normal require
ments that a prolonged period of in
| tensive building must necessarily
ensue before the various aspects OF
the housing situation become en-
tirely stabilized"
Work has started on the new
building to be erected by S w
Straus & Co. at Fifth avenue and
Forty-siXth street. S. w. Straus q
| Co. by reason of their large under
writing of first mortgage serial bond
issues on new industrial plants.
apartment houses, office buildings
and other large structures in the
/ rNpiv rf
closely in touch with building con-
! ditions ano the general outlook in
I the industry. Their first mortgage
loans on buildings of this character
run into many millions of dollars
monthly. 1t may be taken Nas en-
couragingly significant. therefore,
I that they are going ahead with the
new s4000.000 home for their New
/ York organization at the present
time rather than delay until a later
date.
q The plans for the new building
call for a 12-stOry structure. of
which the company win occupy
three banking floors: in addition to
which they win utilize the entire
/ top floor as library. rest and rec
reation rooms and for various other
! features connected with their well
fare work. A. 10-foot setback en-
tirely surrounding the building will
{ be used as a promenade for the en-
ployes of the investment banking
! house.
The building will be of white
stone and the prevailing note of the
exterior design will be suggestive
of massive stability rather than or
nate decorativeness