New-York tribune., 1920-11-29

Market Shows
Better Aspect
Speculative Buying Move
ment of Considerable
Magnitude Looked For
in Building Materials
Big Demand for Lumber
One Firm Reports Orders
Received in Two Days
for Four Million Feet

belng met with equally cautious selling
terms and promises in the building
material and construction markets Of
this part of the country, according to
the Dow Service Daily Building Re-
ports.
Few building material manufacturers
or distributors are taking forward
orders at present market price quota
tions. although within the last ten
days there is reported to have devel-
oped in certain markets an inquiry
from sources believed to represent
speculative construction interests.
Much Of this inquiry which has come
through distributors in Philadelphia
and New England has been met with
reluctant response.
Speculative builders at points some
what removed from New York and
vicinity are watching the developments
mere closely. New York is the worst
sufferer proportionately from the
shortage of housing accommodations,
and lending institutions, as we'll as
private investors in other cities, have
apparently come to the conclusion that
IN the light of recent publicity re-
gardlng building practice in this city
a speculative movement or consider
able MAGNITUDE may be looked for in
ana near New York just as soon as it
mas become apparent that the price
bottom of the building material mar
ket has been reached.
Expect Labor More Plentiful
The idea seems to be gaining preva-
renee that pending the final action of
the New York State Legislature upon
Hipl
wood committee will recommend to the
lawmakers, small house and tenement
projectors will rush in to take ad-
vantage OF the present building laws
and the leftover building material and
equipment stocks from the 1920 sea-
son The assumption that labor con-
dlt!ons will be less onerous than for
melly, at least during the life of the
lockwood inquiry, and, incidentally
tnat during the winter months and the
early spring labor will be more plentif-
fUi, is having an influence upon spe-
clallsts IN this kind of building.
Inc Two essentials, therefore, seem
to be. first, definite assurance that
material prices will not react to levels
lower than operative minimums. and.
second, that assurance of deliveries
may be obtained.
persistent efforts to bear various de-
partments have met with slight sue
cess IN the market as a whole. either
for spot, winter or early spring de-
liverles. The fact that these inouir;es
nave overf1owed to adjacent markets
IKE that of Boston and PHILADELPHIA.
"nere water haulage, it was thought
might effect the distance from point of
consumption, aroused the interest of
speculative builders in these sections.
70 u !. IL
come IN for supplies if a great New
York district demand should suddenly
develop without their knowledge. par-
Ilcularly II mill supplies of building
materials were low.
Lumber, offering the best illustration
OF the market in the current develoD
nent, accords the best proof of what
happened when this movement reached
the manufacturing centers. One or
ganlzatlon reported the receipt of or
uers IN two days amounting to ia car
loads, or between 5000 900 and 1000.
OO0 1eetInot an exceptional record.
but sufflclently important to Indicate
that something that something was
happening. While the lumber sales
company does not admit that this vol
ume of business came from any one
section, but was scattered from Florida
to New England and as far west as
OHIO, there was sufficient business
taken from this vicinity to indicate
that there was more than passing prob
ability that there is q cnange at hand
earlier than had heretofore been ex-
pected. The instructions sent out to
its statesmen read:
ou VIII have to use caution in TAX
ing orders now, because the stocks on
hand are the only ones that we have to
sell, and we do not want any orders
excepting for immediate shipment, and
all orders must be taken subject to
prior sale We shall be very glad if
you will be as active as possible for
the next three weeks, because after
that we shall not be active in solicit
ing business for a month, and we want
only enough orders to keep a fair vol
ume of shipments moving during this
period"
Reduction in Roofing Cost
From a prepared roofing company
there went out an order to statesmen
accompanying an announcement of
1nal price reductions which said: "By
reductions of from "a to 81 per cent
on importan items we have sincerely
endeavored to attain price level
from which further movements should
be upward. We can only accept orders
for limited quantities in accordance
with uniform plan to insure fair and