The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-11-15
REPORTS SHOW STIR
IN BUILDING FIELD
Steady Demand for Materials,
With Stocks Running Low
Late Realty News.

A telephone canvass OF leading manu-
facturers OF basic building materials
used In business and residential con-
structior work. conducted by the Dow
Service Daily Building Reports reveal
the following conditions:
Buyers who have been prone 10 can
eel orders are either accepting deliver
les or are now merely requesting that
shipments be held until after the first
OF the year.
More money has been pledged or al
ready invested in new construction for
the nine months of 1920 than was
pledged IN the same period OF 1919. For
113 cities S1.170, 100000 was invested In
new building enterprises, as against only
1871 900 600 in the same period Of 1919.
The d ference is, however that Sl,170,-
100000 this year provided for $4,000
900 square feet. AT $3.50 a square foot.
against 272,0O0,00c square feet on the
srna{er Investment Of SS1lo00,0Q0, when
the average cost was $500 "A square foot
Competent authorities u various de-
par;msnta Of building material manu-
iacture declared that nothing like tAat
amount of construction work has been
completed says the DOW Servl' in its
material still to be delivered Further
more, available stocks on hand or likely
to be produced between now and the
first of the building season OF 1921 will
allow for little or no margin for the late
corners into the building market.
Cement offers as good barometer
as any commodity because it enters Into
probably the greatest variety OF struc-
lures, including railroad work. which
z..s1t 10 .tiII ~ 1po IN
material supply. October production
was the greatest ever recorded in the
cement ground, but cement on hand has
dwindled as Of November l to almost
negligible proportions, the total being
100000 barrels. or only 33 per cent. of
what was on hand in october. 1919. Not
considering the two largest companies
in the industry, which have only $4,000
barrels each on hand the average for
eighteen manufacturers was only 1880
barrels in the warehouses, which does
not represent very much more than the
dust on the beams Stock houses are
thus practically empty. Never has such
condition obtained before.
Lumber manufacturers have Issued
TO the trade their minimum price lists
and sufficient time has elapsed to indt-
cate that they are really minimum.
Heavy tests have been applied. but none
Dealers are still piled high, however, at
distributing points. but they are content
TO wait.
There have been no price changes of
any sort I'm the week just closed
ION the Pacific coast only so per cent.
Of the fir plants are running. Sixty
per cent of the shingle mills have
stopped. Half OF the Southern pine
small mills that started on the rising
market have ceased operation, and the
big established mills have Topped off half
their production and may stop entirely
Canada does not produce spruce In the
winter, so that the condition In that re-
gard is normal. Southern pine. which
is the dominant home building lumber
in this market, is on low production
schedules. and is holding rigdly to the
rock bottom price base. Their next move
is to close rathor than cut prices further.
Building money Is going 10 be easier.
The architects have been making a first
hand study of the entire situation, and
they are advising their clients that de-
lay in the light of low stocks and grow
ing demand. is dangerous II they need
their projected structures.
Brick is cheaper in New York than In
any other section of the East. but 1t is
already moving up. The entire building
situation is gaining strength. and the
sooner the manufacturer can gauge the
markets needs and the dealer can Op-
crate at his normally efficient speed the
quicker construction costs will strike a
fixed level The market is plainly
headed that way now.