The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-25
REAL ESTATE NEWS,
NOTES AND GOSSIP
Freer Supply of Fuel and La
Dor Reacts Beneficially on
Material Market.

] 80 NNiO SNo6N oS Aht 90 eiAt -NC" AN'fN
construction market is concerned. ac-
eording to the Dow Service Daily Build
ing Reports. Prospective purchasers
seem content to await eventualities Of
the immediate future. These incidents
include such factors in the building con-
straction industry as finance. fuel sup
ply, freight car manipulation unem-
ployment ut manufacturing centres and
its effect upon mill production in the
building material production centres. ex-
/ port and import influences, price stabil-
ization, liquidation of labor and the eff
feet the investigation now in progress
may have upon building operations on
! which estimates have been received but
not yet acted upon.
I Building finance is expected to show
more interest in construction in general
after the close of the election campaign
Fuel supply is improving Brick manu-
facturers in the Hudson River district
reported at the close of the week that
fuel supply was changing the manu-
featuring situation there considerably
In one case 500 tons were desired and
the purchaser was accommodated with
500 tons. In another instance $50 tons
were called for and about half the
quantity was supplied. Slight as con-
cessiops in the matter of fuel supply
may appear to be, it has been the cause
of changing the recent aspect with re-
gard to brick supply.
Incidentally, box car supply is i'm
/ proving, bringing into this market
building material orders long overdue,
| but arriving at q time when there is
/ no buying to absorb it, What appears
to be a favorable trend as far as re-
ceipt of building materials in finished
form Is concerned really has an adj
/ verse counterpart at the building mate
rial manufacturing mills, where the In
terstate Commerce Commission order
curtailing the supply of open top cars
OF the type usually employed in trans
portation of raw material is actually
curtailing production.
Men Recruited From Auto Plants.
The wholesale release of skilled arti-
sans at automobile establishments in
the West has been helping building ma
terial and equipment mills to clear up
their untitled tonnages. There Is, how
ever. reaction to this trend. because
the buying market is not freely calling
for material II this policy is long con-
tiqued shutdowns at manufacturing CEN
tres may be expected until the de-
mand comes back.
All eyes will be centred, therefore,
upon the financial market during the
next sixty days. II the financial cloture
policy, familiar to the building trades
during the last nine months, is con-
tinued the late deplorable runaway price
market can be considered as being
merely in a passing lull, emerging into
full activity again as soon as demand
begins to be felt upon the low mill and
dealers supplies.
The fact that foreign glass manufac-
; turers are making themselves felt In
this market; that export cement demand
is constantly pressing upon Atlantic
seaboard manufacturers: that lumber
has heard inquiries from clear across
the ocean, and that metals are so
closely pressed by foreign markets as
TO make It easily possible to eclipse
domestic business at the moment, all
merely emphasis the fact that American
manufacturers are giving American con-
sumers the benefit of their present Inn
tied outputs even though the premiums
offered frequently and lavishly by ex-
port purchasers greatly overshadow
present open market prices for their
wares.
Price sterilization and liquidation of
labor wages at mill centres were pri-
marily influential in reopening the buy
ers' market a week ago. but the effect OF
the investigation into building construc-
ton practices is likely to be along the
line of cancellation of projects upon
which estimates have been received but
which have not been formally accepted.
Inquiry May Force Big shutdown.
The recourse OF building material
manufacturers in the event of a general
cancellation movement emanating from
local conditions. such as, for example.
the inquisition into local building condi-
lions, will be to close down indefinitely,
like the lumber mills have done. or turn
their available stocks and supplies to
the export trade. Credit Ia too scant,
and will probably continue TO be so until
well after the turn of the year. TO war
rant manufacturers to pile up stocks In
reserve. Inventory time will come be-
tween now and the start OF the 1921
building season. and banking credits are
likely to be unsympathetic with large
stocks without q visible market.
Building material manufa cturers are
at present catering TO buyers market
conditions. This is noticeable In current
prices OF brick. lumber and metals. but
signs developed last week indicating that
the bottom Is being reached on price con-
ccssions In such items as structural steel
and similar finished products. oak. maple.
poplar. cypress. North Carolina pine and
common brick. Glass. under the in
.fiuence of foreign manufacturers, has
been softening on price. but the fact
that many American mills will be forced
20 close down on December /. when the
supply OF natural gas to these establish
ments r. finally shut off. indicates that
glass also Is getting close to price bottom
in this market.
Dwelling Sales Reported.
Walter j. Burke of the office OF Ed
ward G. II. Vogler. resold for Mrs. Eva
u. Cantor the four story dwelling, 19x
100. at lis West Eighty-second street.
McCotter & Davis sold for the estate
OF Mary Renville the three story DWELL