The New York herald., 1921-01-16

with interest the New OrK marhct Ohe
prepared roofing company which re-
Gently announced sweeping reductions
has sent letter to sales managers say
ing: "The low point has been reached:
Within the next sixty days roofing and
shingle prices must move upward.
Reductions Conditional
A hollow tile fireproofing manufac-
turer in reducing prices on account OF
the lighterage concession makes the new
prices conditioned upon shipments start
ing within fifteen days and must be
completed before August ii. Present
prices arc subject to change after thirty
days. Sand companies have notified
distributors that they will shut down
for two months after the first Of the
year. Dealers have little or no supply
Brick manufacturers have practically
Withdrawn from the market at the pres
ent price Iron pipe prices are said to
be headed upward because the manu-
facturers are several months behind or
ders.
Chaotic" is perhaps the best word to
describe the present building situation
in this city. Builders are not sure OF
themselves; they are apprehensive Of
what may happen before spring they
sa6y that they don't know what is going
to happen. And many of them do not
want to be quoted as having any opin-
ions at all.
One builder. asked if the cost of build
ing an apartment house was much less
than six months ago, said
WHO says it costs less now? We
can't tell what it will cost"
He admitted that both materials and
labor considered. n house could be built
for a little less than formerly, but he
predicted that after a few weeks the
cost will rise again. But he was not
sure of his ground He was simply
afraid.
Another builder, asked if he could
trace any important drop in the price OF
building materials directly to the work
of the Lockwood committee. said:
Has anybody told you that Mr..
Untermyer has brought down the cost
of building a house? There have been
drops, all right, but the most important
ones cannot possibly be traced to him.
The big thing he has accomplished is in
breaking the grip of Brindell and max
ing it possible for us 10 get some work
out of what has been wittily known as
labor.
Lack of Credit Factor.
l.. j. Horowitz president OF the
Thompson-Starrett Company said that
the lack of credit is delaying building
operations more than any other factor.
"As for building costs" he said. ~
do not look for any reduction in the scale
of wages, but inasmuch as labor is more
efficient to-day than It has been for
several years past higher wages will
be absorbed by more skilled and com
petent workmanship. Neither do look
for any substantial reduction in the cost
of building materials though 1t is sure
to take place in such lines as have been
unduly susceptible to initiation. But |
believe that many materials. such as
lumber, for example. are selling well be-
low production cost at this time on ac-
count of forced liquidation to raise cash.
There is. in other words, no serious
obstacle beyond the shortage of conf
dence and credit to prevent much longer,
period Of great building activity to
take care Of requirements whose figures
are estimated at $1,000. 900, 900"
Joseph Paterno. one Of the most active
apartment house builders in the city,
said:
II should say that II costs 5 or 10 per
cent. less to build an apartment house
now than 1t did last July Prices were
at their peak then Labor is more eff
cient, for one thing. It is not so inde-
busy and are willing to take more orders.
look for no changes in costs unless
building picks up in the spring. Then
prices will stiffen again"
Factory Building Cheaper.
A builder who makes speciality Ct
erecting small factory and industrial
buildings said that prices have dropped
enough to make the present very COM
Portable, but that he was uncertain Of
what will happen next. He said that
bricks which last summer cost $3.50
delivered on the job in this city now
cost only SIS. Ordinary lumber sheath
ing, an important element in factory
buildings. may be obtained, he said. for
$3.50 as against $50 last summer
Out of He present unstable conditions
nearly all the builders agree, will come
vigorous. unprecedented volume OF
new building. They do not appear to
think that the cost will alter the fact
that the building will come some time
during 1921.
Following is table compiled from
the daily building reports Of the Dow
Service. showing the prices IF basic
building materials for January I, 1921,
and July 1. 1920.
Juiv Januarv.