The Washington times., 1924-03-22
IB|U|.|LD|NG GAIN
IS SHOWN BY
PERMITS
Z Reports From 200 Cities Show
All Records for Second
Month Broken.

total of building permits than did
January. From 200 cities reporting
to the American Contractor, the
total valuation is s264,O52,1S4 for
47;484 permits issued.
The January total from these
same cities was 1927, S55,O7S for
43.574 permits issued. +
The February, 1928, figure was
1927, 532 ,665 and the January total
for that year was $207 ,404,s16.
These comparative figures are
recognized as being good guides for
estimation of the volume of work
ensuing from present planning. But
no one should make the deduction
from these figures that 1924 is
going to be a record-breaking year.
Such deductions are sometimes
made, and they have absolutely no
foundation. The valuation of build
February in itself gives no clue as
to whether March or April or sue
ceeding months will go better or
worse.
The immensely important fact is
that the total for January and
February permits combined con-
Stitutes a volume of intended work
far in excess of any ever previously
reaching the building permit stage
within the first two months of any
year.
This huge volume of intended
work will produce it's own effects.
1t will mean eveAs more employ.
/. ment for trained workmen than
was in store for them at this sea.
son of last year. Some of the work
Will be done at once and some later.
All concerned with the ,manufac-
ture or sale of building materials
will see in these big preparations
for work a good market for a vast
amount of their goods. They will
also take into consideration that
building costs are extremely high
a. compared with those of the old
times to which the industry con-
Stantly harks back, and also high in
comparison with other commodity
, prices.
Therefore it is evident that the
: most far-sighted men in the build.
ing material lines will think in
terms Of big volume and somewhat
narrow profits. This tendency will
be strengthened by the view of
I many, view that seems to be gain
Ing some momentum, that the 1924
f. volume of building will not be as
large as that of 1928. OF course,
If prices and labor costs could be
kept to the point where they now
are, it is not hard to foresee that
those who hold the view indicated
above might be mistaken. But the
big 'if' is attached to anyone's as
: Sertion that it will be possible to
: hold prices and wages where they
now are.
!, New York city is the spectacular
center Of interest in considering
February planning. The valuation
7 Of permits in this city alone is
. $109 .046.497. Besides New york,
there are forty-five other cities in
/ the United States in which the
valuations for either January or
February. or the valuations for both
months, We're over the $1,OOO,O0O, 900
, mark.
These cities are tabulated follow
. ing this statement. and it will be
: noted that New Yor>-s total prac-
; tically equals the who;e volume for
the forty-five. which include Chica-
30, Philadelphia, End other huge
municipalities.
The barometer v, this page,
which shows how each month
boosts up the total valuation for
building permits during the years
Indicated. is prepared from the re-
; turns from twenty cities chosen be.
cause of their industrial and geo
graphic significance.
Note from this chart that the
{ total valuation in these cities for
: the twelve months of 1923 exceeded
total twelve-month valuation for
/ figures being $2,074, 904,125. The
total twelve month valuation for
Z 1922 was 81 ,638, 036, 2O4.
The total valuation in these cities
for the first two months of this year
is 1852, 2,048. For the first two
months of last year it was $30S, 9O8,.
1O8.
The twenty cities from which
these valuations are computed are
New York, Chicago, Philadelphia.
Boston, Pittsburgh, Detroit, Los
Angeles, Baltimore, San Francisco,
Cleveland, Seattle, Minneapolis, Kan.
1as City, st. Louis, Milwaukee, Buff
falO and Atlanta
The chart shows how each month
piles its block of building activity
onto the cumulative valuation for
the previous months. The first two
months Of 1924 have exceeded all
past valuations, and most nearly
approached by the first two months
of last year.
We might consider each column
az structure. Each structure has
twelve stories, one representing each
month of the year.
The structure erected in 1914 was
the smallest, but it must be con-
Sidered that the money cost and not
the cubic footage is shown on the
scheme for presenting the picture.
In 1919 the additions in the first
few months were pitifully small but
after that the work Of each month
began to stretch out to more stable
proportions.