Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1924-01-14
Building Records
For the Past Year
Beats Them All

Last year broke all previous rec
ords. according to f. w. Dodge Corpor-
alton. Total contracts awarded dur
ing the year in the Sc eastern states
| and the District of Columbia Gnclud-
ing about scven-eighths of the total
construction of the country amounted
to $1,000. $4,000 This indicates more
than ~ billion dollars worth of con-
struction in the entire country.
In 81 of these states the increase
over 1922. which was itself a record
breaking year. was S per cent. After
an unusually heavy spring season.
there was a slight reaction through
the summer months. followed by an I'M
, usual increase in the late fall. Deem
her, 1928. showed an increase Of rs
per cent. over the previous December.
The increase was largely in residen-
tial and industrial buildings. Residen-
tial construction increased is per cent.
over 1922, which was rather surprising
in view of the higher cost levels last
| year. and industrial construction in
, creased 16 per cent. Construction of
public works and utilities renamed
about stationary: business buildings
, declined 9 per cent: and all other
classes combined decreased Is per
cent. from 1922.
All previous CcIlSll ISNpiuS
were broken in these districts: New
York state and northern New Jersey:
the Pittsburg district: and the north
west. New England just about equalled
the 1922 record. and the middle Allan
tic states and the central west declin-
ed. The southeastern states probably
showed a considerable increase, al
though there was no record on them
previous to last year.
Contemplated new work reported
during the year 1923 in the &c states
amounted to S7,421. 100000. which is
Sc per cent. in. excess of the total of
contracts awarded Cor work actually
startcd). The normal excess is about
so per cent. This may be taken as an
Indication of a demand that has not
been fully satisfied. However. the ex-
cess of contemplated work reported
has been abnormally large every year
since the war. and Is not sufficient to
indicate an increased volume of con-
struct,on in 1924.
In fact. the reaction of last summer
was a very mild one. insufficient to
bring about an appreciable lowering
of building costs generally. Building
costs are now ut a level nearly 80 per
cent. above the prices of general COM
modities: labor and materials are gen.
orally scarce. The 1923 increase over
1922 was surprising. in view of all the
conditions. 1t seems unlikely that
1924 can better the 1923 record, or even
equal it. A total construction program
of billion dollars i'm the entire coun-
try seems reasonable estimate to
make at the present time. a moder-
ate decline from the 1928 construction
volume. about 10 per cent, ought to
have wholesome influence on build
ing conditions.
December building contracts in New
England amounted to s26.617,000. an
increase of s per cent. over November
and of q per cent. of December. 1922.
Total construction started during the
entire year 1929 amounted to $685.
$4,000. only fraction of 1 per cent.
less than the amount of 1922, which
was the highest recorded year for the
district. Last years total included:
56.S52.000. or ~ per cent. for resi-
Dental buildings; SIS 900. or II per
cent. for business buildings: s35.501,-
600. or IL per cent. for public works
and utilities. s29,S44o00. or 9 per cent.
for industrial plans: and s27.42S,000,
or per cent, for educational build
irgs.
Contemplated new work reported
during the year amounted to s4S1. 49,
COO. compared with S332 S57.000 for
work started. This Is about a normal
ratio for contemplated work to con-
, tract awards. and is an indication that
the years building needs were more
or less adequately taken care of by
the years construction DroPram