The Waterbury Democrat., 1936-02-07
ANYBODY'S BUSIN ESS

Maurice Foley, in the New York Times, describes the current Winter Aa the most active in residential construction in recent years III Q majority of Long Island (N. Y0 CoEninunities. He calls attention to the growing demand for new homes In both North and South Shore de- velopments. This. he said, is the re- suit of confidence evoked by the success builders already have en" joyed in marketing their present wares. Ho points out Q half dozen ambitious development projects, in- cluding one for 300 homes planned on the property. The oss-Morton Corporation, encouraged by the sale of 100 new residences last Spring under the Federal Housing Admin istration's Insured Mortgage Plan, is scheduling the erection of 800 ad- ditional units at Bayside Hills dur ing the coming year.
 New Yorl. City IS going back to the construction of tall apartment houses in Manhattan, according to Lee k. Cooper of the New York Times. Mir. Cooper reports resump- ton of construction work in this tield is being hailed by builders and realty interests as an omen of recovery and as evidence that the purse strings of private financing finally are loogening. During the past few years, he points out, not many tall apartment houses were erected in New York. With the ioosening of mortgage money how. ever, this activity is expected to gain considerable strength. At the present time, Cooper points out, several groups Of obsolete buildings are being razed to make way for new tall apartment houses in the West Fifties.
 According to Dun & Bradstreet, bank clcarings for the past week jumped I4.7 per cent in 22 cities. The New York Times reports the increase. calling attention to the fact that the previous week showed q decline Of 0.6 per cent. Of the 22 cities, all, according to the Times reported gains, the highest occurr- ing in Philadelphia, Cincinnati. New Orleans, Louisville, Kansas City, Omaha, and Seattle.
 Indianapolis can be added to that list of cities which show more than Si000,000 increase in new residential construction during 1885. The 1ndi. annapolis Star notes not only an in- crease in residential construction but in industrial as well. The Star quotes William P. Hurd, acting building commissioner, as crediting the Federal Housing administration with stimulating the substantial in- crease in building in the Hoosier capital.
 On the heels of e good 1885 for property interests comes Q year of better business in construction of realestate, predicts M. V. Casey, reai-estate editor of the New York Herald Tribune. There are @ num- Der of economic and psychological reasons to subgtantiate the belief that this will be big year for real estate and that 1t will see the re- turn of the investor and the oper- ator and others who are necessary to bring activity and stability to real property here and throughout the country. MT. Casey says. lndi- cations are, too, he says, that mod eriization will continue to De an i'm. portant feature in the building field. Tn New York several syndicates are being organized to buy |. outmoded apartment properties In good sec. niCns and to make them over. This Aype Of work, he says, so far has proved profitable. He points out too, that higher rentals also are feasIbIe in view of the fact that stock investors are eii.OOO.OO0.0O0