New-York tribune., 1921-12-19
Slump in Cost
OF Materials
For Building
Drop in Prices for Wood
Lath and Plaster; Conn
mon Brick at New Low
Postwar Level of SI4


Recent unreasonable developments
IN the building material production and
distribution markets are ascribed by
the current "Dow Service Daily Build
ing Reports to an almost general mis-
apprehension as to the scope oil the
local building construction year just
ahead
After the recent up-turn in certain
building material prices a slump came.
Even in the week just closed wood
lath dropped off so cents a thousand,
neat wall plaster 81, finishing plaster
in bags $1.5o and in barrels so cents
on the carton. There are slipbacks in
metals.
In fact, the only consistent stability
commensurate with She demands Of the
immediate future has been in lumber,
but even there the wholesale market
has weakened in certain woods. The
only upward movement Of the current
lists is noted in FAS quartered oak
flooring, white clear plain oak flooring
end select white plain oak flooring
material, all advancing SIS. Cement ls
slightly tirmer at is new low level, and
common brick is showing more strength
at it's new low postwar level estsb-
lished last week at ylA wholesale, to
which must be added. for delivery
base, cost Of handling, haulage and 10
per cent.
The public is dem andina lower prices
or building materials and Of c9nstruc-
ton costs, notably wages Of building
artisans, but instead Of backing up it's
demands by a united cessation Of all
construction until it gets what 1t wants
it is creating a market for high priced
materials and high priced labor such
as has seldom been known. In conse-
quence the Dow Service says that the
building public of II large section Of
the Atlantic seabosrd appears TO be
headed for price trap IN ls22 very
much like that of 1920.
Building Under Way
A survey Of building construction
conditions in New York has just been
completed by the Building Trades Em-
Movers Association. According to the
figures given cut by Samuel r. Don
nelly. secretary, there are housing ac-
comm odations either under construc-
ton or to be built in 1922 sufficient to
take care Of 22,540 families. The table
below is arranged to show the differ
ence between the prospective building
material demand as it will present IT,
self on January /. 1922, and as it will
loom up just 4 few days before Sep
tember ], 1922
Actually
under Wa. hind oe
he finished or unshed
IRQ.... l-story brick dwelling. g......... 9l7
fs5 g~farniiN brick dwellirg..-..- 04a
ga family frame dwellina 2'sss
60 family frame dwelling 5fS
ia A.....Apartments or tenements- 4lo
New accommodations will be ready
for 9,4s5 families on January |. but by
September |, 1922, accommodations will
be ready for 13.O55 additional families.
Add to this total whatever additional
and contracted For after 1922 actually
arrives. and it is quite apparent that
whatever building consumption accrued
in this market since last February,
when the tax exemption ordinance was
passed by the Board of Aldermen, will
be considerably multiplied by 1922
building requirements, especially should
the exemption ordinance extension be
deferred until the last minute before
It's expiration in April.
The United States Census gives the
total number OF homes on Manhattan
Island for 1920 as 525.154, Brooklyn
453 ,5s7, Bronx I66,260, Queens 109,559
and Richmond 23,T81. Estimates based
on these figures in January of this
YEAR before the taX-exemption ordi
nance was passed, fixed Manhattan S
quota to meet the housing shortage for
the forthcoming two years at 100000
habitations, Brooklyn at 100000, Bronx
at 10000, Queens at l15, 900 and Rich
mond at 10000 BY September, 1922,
Ill.
haitian, $4,000; Brooklyn, 462,l3f;
Bronx, 1854; Queens, 112.37o, and
Richmond, 2s,59s.
Accord na to this estimate that
leaves for builders entering the 1922
construction market, and therefore not
included in the Building Trades En-
ployets' Association survey, 80 pro-
vide 5000 homes FOR Manhattan, be
ferc full saturation point is reached,
or total elimination of the housing
shortage is accomplished; $4,000
homes for Brooklyn, 2S.l0S for Bronx.
5000 for Queens and 1000 for Rich
mond
Turn in Construction
Long before full saturation has been
reached the rush Of home building
will be diverted to commercial con
struction which j. crowding moro
eagerly TO the fore every day that the
foreign exchange situation becomes
clearer and sterling gains strength.
Immediately upon adjournment of the
disarmament conference inanciers ex
pect further rebound in sterling,
which will have an indirect effect upon
the outflow of investment funds into
commercial building construction and
. some extent upon industrial plant
erection.
These potential requirements for
building materials are not by any
means confined to New orA In Jersey
City, for instance, in the calendar
months between October /, 1919, and
October l. 1926, the building depart
ment statistics there show that only
thirty-four new habitation projects
we're under way providing in all ac-
conmodation for seventv-five families.
totaling S299 900. Under the tiveyear
tax exemption law which that city en-
acted iast year 1872 habtation struc-
lures we're started. providing accom-
modation for 689 families and repre-
senting an outlay of S3,623.i5s.
In the face Of such building program