The Washington times., 1925-08-13
JUNE BUILDING
IS INDEX OF
PROSPERITY
Federal Reserve Bank Data
Show Big Gain in Month
Usually Slack
BY RICHARD HATTON

Increasing evidences of prosper
ity throughout the country are
seen in the latest compiled reports
of building operations. Taken in
connection with the present agri-
cultural outlook and the generally
Increased summer mercantile &C.
tivity, the building record would
seem to clinch the prediction OF
prosperous times. The Federal
Reserve Board gives the follow
ing interesting figures of survey,
indicating that the country Is now
upon high and prosperous level
OF building ACTIVITY:
June awards of building con-
tracts in eleven Federal Reserve
districts totaled 1851 ,000, 900, &C.
cording TO compilations by the F.
w. Dodge Comapny, exceeding the
value contracted for in May Aby
$4,000, 900 or 10 per cent, and ex-
ceeding last years figures for June
by $146 900 900, or 35 per cent.
The increase over May this year
is particularly significant, in view
OF the fact that in recent years
the aggregate of values contracted
for has fallen off in June, as COM
pared with May amounting to
$50. 900 900.
Totals by districts indicate that
very generally the country over the
high level of building activity indi-
Gated by awards in May was main
tanned through the month of June.
1t may be noted, however, that
nearly $40 900 900 of the $50, 100000
net increase over May (noted above)
isf credited 10 the Chicago district
and nearly SO 200. 900 to the New
York district. Very substantial
increases for June this year over
last are shown for each Federal
Reserve district excepting Dallas.
awards covering residential con-
struction fell off in June from $751;
900 900 to $2iS, 100000 Although
constituting a smaller proportion of
the total for all classes in June as
compared with May, awards for this
class of construction this year in
the ten districts for which COM
parable data are available exceeded
the June 1924, aggregate value of
residential awards by $4,000, 900, or
nearly 80 per cent.
Square feet contracted for in
twenty-seven Northeastern States in
June totaled for all classes of con-
struction sc, 579 900, falling 3 per
for May, but exceeding the June,
1924. aggregate by 3S per cent. In
creases for June this year over 1924
are shown for each class of con-
struction excepting public buildings.
Values permitted for in 1S8 cities
ran in nearly the same volume in
June as in May, but exceeded last
years June aggregate by nearly 80
per cent. In comparison with last
year. relatively greater increase is
shown for values than for number
of permits, the average value per
permit increasing approximately
from $4.100 to SIS. 200.
Computations by the r. w. Dodge
Company, covering the value of
permits issued in 210 representative
cities. show a net gain of s per
cent 70 rthe first half of 1925 over
the same period in 1924. On the
half years account as whole New
per cent and the remaining cities a
net increase of 1S per cent. In June
this year 142 of these cities report
ed an increase over June of last
year and 81 a decrease for permit
valuations.
The Bureau of Labor Statistics
index for wholesale prices of build
ing materials declined from 1851 in
May to 1907 in June. indicating
that prices of materials in June
were on the average at the level of
last September and October. This
index reached maximum of 1927
in February