The Washington times., 1924-02-23
january Holds
RECORD FOR
BUILDING
Permits in Two Hundred and
More Cities Total $227,- .
335,O7e.

Again are all previous records for
January building permits broken.
Last January broke records for the
splendid beginning of 1928, and
now January Of 1928 is far out
Classed by the record for the first
month OF this year.
To some it may seem that we
are living in fools paradise, but to
others it seems that the demand
Tor building is merely being exc
cuted into solid walls, floors and
roofs. Certain it is that 1924 starts
out on good big job IL 1t starts
TO outclass last year month by
month. So 1t Is not surprising that
there is q queerly assorted combi.
nation of optimistic and OF pessi-
MYSTIC opinion to be found in the
building industry at this time
and January gives strong evidence
Tor the optimists.
Two hundred and nine cities re.
porting to the American Contractor
deliver total valuation Of 1927 1885,
o7S for January permits. The
record for these same cities one
year ago was $207. 404,916, and for
1922 the January record was only
&142, 04O, 0s5.
Likely TO Continue.
This unparalleled big start for
this year has in it the possibilities
Tor continuance through the year
Of much building activity. It also
has in 1t the germs which may
result in a severe setback. This
setback will come if labor wages
are raised or if there is boosting
Of construction material costs.
The contractor is the agent
through which either of these two
possible eventualities win be felt.
But do not let anyone forget that
despite the big volume Of work last
year, contractors profits were small
out Of all proportion. 1t is not
reasonable to expect that con-
tractors can or will handle a big
volume of work year in and year
out without making legitimate
profit.
But with any rapid raising of the
wage scales and any raising of
material prices, the building cost
figure Immediately assumes such a
towering aspect that contractors
profits go by the boards in many
cases.
Therefore, the figures for the first
part Of this year should be studied
with the thought in mind that our
skilled man power is limited and our
supplies of manufactured building
products are not piled very high on
the shelves.
New York Activity.
with these. facts in mind let ua
observe the course Of activity in
some Of the larger cities. New
York City, with it's five boroughs,
heads the list for building permit
valuations. For January Of this
year its figure is $76,061 1888, while
for January Of last year its valua-
ton was $65, 534,656.
Chicago does not start out SO
6ourishingly as 1t did last year
when the total January valuation
was 1851 800. It's January Yalua-
ton for this year is only $14,117,110.
Los Angeles does better than it
did last year; it's last years figure
was $11 ,258,517, while its figure for
this year is $13,158,526. Detroit last
year turned in a January. valuation
valuation for this year Is $7,122,376.
6A!duoiPnLd JUMPS 4EOA pOSOV4'AVV
20 $8,642,525.
Counting since January, 1919, we
have completed sixty months of
construction. Only eleven months
out Of the sixty exceed in valuation
the figures for January Of this
year. This comparison is made
from twenty cities for which long
time records have been kept. The
valuation is these twenty cities for
January Of this year is $155, 189, 1896.
The previous eleven months which
have exceeded this total are as
follows: February, 1928; March, 1922
and 1923: April, 1923; May, 1928;
June, 1922; August, 1928; October,
1928; November, 1928; December,
1922 and 1923.
The twenty cities entering into
this comparison are New York,
Chicago, Philadelphia, Boston, Pitts
burgh, Detroit, Los Angeles, Balti.
more, San Francisco, Cleveland,
Seattle, Minneapolis, Kansas City,
st. Louis, Dallas. New Orleans,
Indianapolis Milwaukee, Buffalo
and Atlanta.