The New York herald., 1921-10-31
Large Economic Value as
Rents and Wages Will
Be Adjusted Easier.
AID ALSO SEEN TO TRADE
Secretary Of Commerce Is Opti-
mistic OH Statistics of New
York Firm.
seecial Despatch to THE NEW York HERALD
New York Herald Bureau,
Washington, ID. c., Oct. 30.

New York Herald Bureau,
Washington, ID. c.. Oct. 30.
Real relief from the nationwide
housing shortage which has been
called the country's highest barrier
against economic stability is begin
ming to appear High rents within a
few months should be matter only
of history.
More than $4,000 residences and
apartments, according to an official
statement of Secretary Of Commerce
Hoover, were contracted for between
January / and October in twenty
seven States in the Northern and
Eastern sections Of the United States.
September contracts were numer-
ically greater than any September In
history, the statement showed.
The beginning OF a national boom in
construction of buildings of all kinds
is seen by Government officials Con-
struction of buildings for residential
purposes is being rushed in every Sec
ton of the United States, officials say,
although the statement of Secretary
Hoover covers only part OF the coun-
try The arrival of cold weather rs ex-
pected to slow up construction in the
Northern States. but only until spring.
Construction during the winter months
will proceed at an increasing rate in
the Southern States. 1t is predicted.
OF Economic Importance.
The economic Importance of the build
ing boom is beyond estimate. officials
say. 1t will, however. afford jobs for
hundreds of thousands now idle. That
II will tend to reduce rentals is certain.
Lower rentals will lessen strikes and
loclSouts for wage readjustments will
be more easily accomplished. Secretary
of Labor Davis recently stated that high
rents constituted the only remaining
bar to voluntary wage rcadjustment by
workers.
Wage readjustment must be completed
before prosperity and economic revival
can be expected. 1t is explained.
Lower rentals mean that the average
American family will have more dollars
to spend on clothing. food and luxuries
That means a general rush to buy, with
factories operating twenty-four hours
and jobs for all Of the nations 13O0O,-
900 Industrial workers.
Secretary Hoovers statement given
to the public through the National Con-
ference on Unemployment. was based on
actual reports of building contracts
compiled by the r. w. Dodge Company
of New York
1t shows that the number of building
contracts awarded in September III
twenty States in the North and
East was 11.5 per cent. greater than
In August. when the number of con-
tracts was AS per cent. greater than
the avereg ge for the last ten years. Resi-
Dental construction leads In the report.
although II includes all kinds OF work,
such rs business and commercial struct-
ures, memorial. public works. hospitals,
churches and military and naval jobs.
Residence Building Leads.
The number of projects contemplated
in September was 10.455. with a valua-
ten of $31S,030,600. From January /
to October 1 67,056 contracts were
awarded with a total value OF $1.746.-
759,300. Residential contracts included
In this figure totalled $539.1S2. 100; pub
lie works and utilities. 1859. 200 !:
business buildings, $254.237,500.
''The valuation of this years con-
tracts to October L." said the statement,
was greater than any previous year
within decade. except 1919 and 1920.
Contracts awarded in 1920 amounted to
s2.14b.353.000 in 1919. $1.s24. $50. 900 I:
in 1913, s1.335,526. 900; in 1914, $780,
$4,000; in 1910, s633,oo1, ,00c."
Summarized by districts the report
shows building activities as follows:
Boston district (New England States),
contemplated projects, 1.4o4; value,
s22. .357.500: contracts awarded. 1909 ;
value. s16.o26,o0o.
New York district (New York State
and northern New Jersey. contem-
plated. 1850; value, s73.255,20O con-
tracta. .a6s; value. sSs.sse,eo0
Philadelphia district eastern Penn
sylvania southern New Jersey. Mary
land. Delaware, District of Columbia,
Virginia, North and South Carolina)
contemplated. 1873; value. SOS. 400
contracts. 1893; value $s4.11s.3oO.
Pittsburgh district (wcstern Penn
sylvania. West Virginia. Ohio, Ken
tucky and Tennessee). contemplated,
1864; value. s44.005.60o; contracts,
1.120; value. s40.ss5. 100.
Chicago district (Illinois. X~siana.
Iowa, Wisconsin. Michigan. Missouri
and parts OF eastern Kansas and Me-
braska), contemplated. 2.7j7 value.
si06.4s4So0; contracts, 2.o22. value.
$5S.153.400.
Minneapolis district minnesota and
North and South Dakota). contemplated,
74t; value. s13.G34. 100; contracts. sol.
value, s7015.50o.
POLICE HERO RECEIVES
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