Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-03-04

building on the Parkway Of the Frank.
lin Institute and the construction Of
the ten .stOry Atlantic Refining Com.
pany Building at Broad and Spruce
streets.
"some Of the old buildings are being,
or will be, altered and improved Mt con-
siderable expense, such as the old Bap.
tist Publishing Building, ut Seventeenth
and Arch streets, and the Parkway
Building, at Broad and Cherry.
"In fact, the signs oil indicate build.
ing activity on scale not seen here
for six years.
'"There IL also indication that prices
are returning to normal, but this does
not mean prev war prices. It does mean,
however that there Is an end Of infia.
ton and that prices are returning to a
rational level. Most Of the new dwell.
ings are houses that would sell at about
S5OOO."
LARGE Contracts Let
Mr.. Stone said: "Some fairly large
contracts have beer placed recently,
but the large buildings decided upon
are not up to expectations. Much
other work In under consideration, or
discussion, and some work IL out for
estimates. The majority of the work
under way or contracted for is of small
proportion, dwellings and garages, and
much Of this Is speculative.
"Of the general situation. 1t can be
said that there Is a slight tendency
toward betterment.
Mortgage money is better than at
this time last year, which may have q
tendency to stimulate building.
Unemployment Is greater at pres
cnt than 1t has been for some time, but
| this is SEASONAL
Mr., Stone said that, roughly speak,
ing, the work that seemed to be as
sured for the coming building season
would call for the expenditure Of ST.
OOO, 900 or SS.O00,0OO. He said that
the Board Of Education probably would
have work costing from 81, ,O0O, 900 to
SO. .OOO, 900 done this year; that the new
expenditure Of 81 300. 900. and that tho
Atlantic Refining Company building
would cost about 81 ZOO, 900. The ad-
ditional buildings Of Temple Univer.
sity. costing $500. 900. and the Presby-
terian Hospital. costing $500 900. were
other important pieces of work to be
carried forward this season.
Williams Is Optimistic
"As president Of the Philadelphia
Real Estate Board" said Mr.. vii.
| lluInS, L nave UGcu ING
ing statistics for the last two months,
but in expressing the opinion that the
building activities Of 1922 will greatly
exceed those of the previous year, / am
not guided wholly by the great increase
in the number Of building permits for
the first two months of this year over
the corresponding two months of 1921 .
which represent q total in cost of three
times greater than those issued In the
same period in 1921.
~ have noted with satisfaction very
healthy return Of confidence and the
very evident demand for homes which
will sell for from $4,000 to $1,000. I
believe many hundreds of these will be
built during the present year. and
look for activity In commercial and
general business construction.
Dwelling construction will attain
normal activity. In my opinion. with a
return Of confidence among the. public
that prices have been stabilized. My
close touch with the situation con. .
vinces me that present prices represent
about the normal level of the future anc
that home buyers can safely invest
today.
1.-The present cost Of labor and ma
terial is less than that of the peak Of
1920, and would seem to represent
about the new price level. and that nc
% fnrtbcr drastic iiauidation in these
lines can be looked for.
".uo.,or .h,no rasnonsib,e for tn,
Ill. mo'her hen,t,i h,,idino market 10 tn,
nesen. . n"pe'%, ~ thn Snanc;ai situation
mpro'e,,nens ora ~ '"u monew available fo
se,, amere 10 ,,'id,ro construction than fo
some time past, and Indications poin
to n gradual but steady betterment o
this situation. All these factors, namely