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490 RECORD AND GUIDE September 14, 1912 BUILDING JIATERIALS. Building Money Tightens as Western Call Increases. General Market More Active—Coal Serious Factor in Building Management—Common Brick Strengthen¬ ing—Steel Stiffness Holding Up Construction— General Lumber Trade Keen and Prices Advancing —Hardware and E^juipmenl Active—The General Market. THREE factors were prominent in the building material market this week. They were steel, coal and lumber. Other departments were without noteworthy fluctuation, but prices held uniformly stiff. So far as active demand was con¬ cerned, common brick made the greatest gain, owing to the temporary settlement of the teamsters' strike. Next in volume of new business taken was that of Port¬ land cement and following that came sand and crushed stone requirements. The steel situation, as shown by the re¬ port of the United States Steel Corpora¬ tion, is- running near record-breaking level. The unfllled orders at the close of business of August 31st represented the splendid figure of 6,163,375 tons or an in¬ crease of 306,296 tons in one month. This is largely in excess of estimates. Of this total the steel corporation produces about 1,150,000 tons of finished steei products, in¬ cluding structural material, bringing the totai tonnage of structural material manufactured in the last eight months to 8,100,000 tons. The terrific volume of business taken by independent concerns must be added to this total. The independent steel produ¬ cers have to be figured in addition, and it is probable that when aii the reports are in it will be shown that the volume of structural steel used this year is in ex¬ cess of any previous year, if not actually record breaking. The fact that all of the steel mills are operating near capacity and are still com¬ plaining of scarcity of labor is significant. Despite the fact that prices have ad¬ vanced there is no decrease in speciflca¬ tions. In some cases premiums are ob¬ tained in order to insure prompt ship¬ ments and it is reported that in some cases it is even impossible to obtain the quantities on delivery before the flrst of the year. The demand for semi-flnished steel is extremely urgent and the flnlsh- ing mills are also pushing the furnaces for crude steel. The old adage that "as goes steel so goes buiiding material sev¬ eral months later" is holding particularly true at this time. When the Record and Guide in June announced that steel not only would ad¬ vance sharply in August, but that other building materials would follow suit, and at that time advised buyers to be prepared for an upward movement, many consumers took advantage of this inside information, with the result that they contracted for materials before the ad¬ vance took place and their operations are now going forward without any inter¬ ruption. Others who prepared to take a chance and wait are paying premiums now to get steei even by the flrst of the year, while some tile interests, many of the terra cotta firms, both architectural and fireproofing, some front brick com¬ panies, and many equipment concerns are sold up to the first of January, and in many cases are not able to guarantee de¬ liveries until the first of March, Steel May Go HiglieT, It is extremely likely that steel prices will continue to move up, since crude material interests are selling with more caution in anticipation of greater require¬ ments on the part of steel people later in the year. If this stiffness materializes there is sure to be a sharp advance in the price of common brick, front brick, Portland cement, many kinds nf equip- nment, such as furnaces, radiators, and other appliances; not to mention building management supplies. Coal is a very important element not only in the maintenance of the finished building but in construction of a build¬ ing for power generating purposes, whether that power be given from coal used practically on the oullding or by en¬ ergized coal supplied the contractor in the form of electricity. Contractors were heard to complain this week regarding the prospect of higher prices for coal, and building managers were also inclined to feel the extra burden that higher prices will place upon them. Chestnut and pea coal have made a notable advance. Egg coal continues strong, but other sizes are reported to be stationary. Bums Bros, are authorityi for the statement that prices are bound to go up as the month draws to a close. One reason for the higher prices is the tremendous tonnage that is being shipped to the Northwest, which is customary at this time of the year. Owing to the coal strike, however, most of this supply must go out within the next three or four weeks and the result is that New York must wait. Those who need coal, however, are paying a higher price to get it. Building Managers Worried. Much of the trouble is said to be due to dealers tying up too much coal for certain customers at this time and rely¬ ing on heavy fall shipments. Building managers and building contractors -will do well, however, to engage as heavy tonnages as possible from their dealers now so as to cover themselves before the rush that will occur when late fall ship¬ ments begin. The shortage at the mines estimated at 5,000.000 tons is of a very serious nature and consumers of coal in this market cannot long continue to take a chance and be unprotected, should the stimulated mine outputs not come up to the required standards. During the last week furnaces have become conservative with the speculative movement about starting in which is only another reason why buying should proceed at once. Premiums in coal buying continue to be a feature and some retailers are asking ■$7 for stove and nut. Commercial sizes are higher. The demand for soft coal is undoubtedly improving and the better¬ ment of the Clearfield and Cambria coun¬ tries situation is particularly noticeable. This is interesting to the New York market because of the depreciation here¬ tofore existing in that territory. This coal, however, is standing still as far as price level is concerned just now, but it is entirely probable that an upward move¬ ment will follow in the near future. Bricic Buying Llglit. The common brick situation is still in a nervous state. Buying is fitful, though somewhat stronger than last week. Sales last week were less than the arrivals, which under normal conditions would be a desirable condition of affairs, but in the present circumstances, there is a possi¬ bility of the market becoming clogged, especially since buyers are apparently in¬ different regarding the fact that the open season is rapidly drawing to a close and that producers will not be inclined to flood the market in anticipation Qf winter demands unless purchasers give them some basis upon which to gauge the re¬ quirements of the closed season. Of course, unrest among the teamsters and excavators has something to do with the nervousness displayed by the buyers, but it is entirely improbable that arbi¬ tration will continue all winter and that when they finally do come into the mar¬ ket they will find covering charges on current prices. The Raritan River situation is still strong. There is no nervousness reported in this department. Hudson River transactions last week were: Left over Aug. 31, 31. 1912. Arrived, Sold. Monday ................... 21 24 Tuesday .................. 0 7 Wednesday ............... 8 7 Thursday ................. 9 9 Friday .................... 9 10 Saturday ................. 6 8 53 45 Condition of market, nervous. Hud¬ sons, $6.75 to $7 (wholesale, dock. New Tork; add dealer's profit and cartage for retail prices). Left over Sept. 7, 39. Left over Sept. 2, 35. 1911, Arrived. Sold. Monday ................... 8 3 Tuesday .................. 7 1 Wednesday ............... 4 5 Thursday ................. 5 g Friday .................... 9 10 Saturday .................. 5 g ^ .,.., „ 38 33 Condition of market, dull. Prices- Hudsons, $5.87% to $6.25; Raritans, $5.50 to $5.75. Left over, 40. Lumber Marlset Is Active. There is a very active market for lum¬ ber. This is shown by continued heavy buying and corresponding stiffness in prices. Logging will soon be possible in the lumber camps when the snow begins to fall heavily, but in the mean time there is a tremendous demand for spruce and yellow pine used in subway under¬ pinning as well as in underpinning for building remodelling due to the enforce¬ ment of the encroachment ordinance, which is giving the yellow-pine situation a tremendous boom, in consequence of which prices are stiffening. During the week there was a slight falling off in the demand for building orders, but flooring was in good demand and the prospects are that h»rd wood prices will move up within the very near future. The wholesale department of the lum¬ ber market is much higher than the retail end. This fully corroborates the Record and Guide's statement in July that Itim- ber dealers would stack in anticipation ot heavy building requirements this fall. The limitations in supply are such as to cause prices to move up higher. How¬ ever, evidences of the strength of build¬ ing lumber is shown in the fact that col¬ lections between retailers and wholesalers are much better, probably due to the fact that dealers are more anxious to stack than they are to obtain credits. Most of the suburban retailers actually expect to have to pay premiums before long. Spruce Prices Climl>iiig Up. The market for spruce has an upward tendency; demand is fair and supply mod¬ erate. Eastern spruce is active on Long Island Sound points, with a good call In New York. It has been found, however, that the yards are taking supplies in-an¬ ticipation of heavier call later on in the season when subway construction work becomes more extensive. West 'Virginia spruce is hard to get, and consequently prices are high. The car shortage will probably seriously affect this district. Yellow pine prices are so stiff that there is some hesitancy on the part of pros¬ pective purchasers to buy. Prices are in¬ clined to move up because of car service restriction. Quotations for merchantable yellow pine (1905 f. o. b. New York) fol¬ low: 8 inch and under.............$S4.50 to $25.00 JO inch .......................26.50 to 27.00 12 inch .......................20.50 to 30.00 }i inch .......................31.50 to 32.00 16 inch ....................... 34.50 to 35.00 Ship stock—easy schedules......37.00 to 38.00 Ship stock—40 tt. average...... 39.00 to 41.00 Heart face siding, 4-4 in. and ,0-4 in......................33.00 60 34.00 Kiln dried sap siding, 4^ in___ 27.50 to 28.00 Kiln dried sap siding, 5-4 in___28.00 to 29.50 For dressing add $1.50 per M. Flooring runs as follows: A Heart Rift, 13-16x2% face, counted 1x3, D, & M...........................$54.00 B Heart Rift, 13-16x2% face, counted D. & M.............................43.00 A Sap Rift, 13-16x2% face, counted 1x3, D. & M...............................41.00 B Sap Rift, 13-16x2% lace, counted 1x3, D. & M...............................36.50 A Flat Rift, 13-16x2% face, counted 1x3, D. & M..............................31.00 B Flat Rift, 13-16x2% face, counted 1x3, D. & M. •............................29.50 No. 1 Com. Flat, 13-16x2% face, counted 1x3, D. & M..........................28.50 The hemlock market ie firm. Current prices for Pennsylvania stock ranges at $22.50 and West Virginia at $21.50, repre¬ senting an advance of about 50 cents, with mill capacity well employed. Concessions in this line are procurable only In sub¬ stantial orders. In the hardwood market flrm prices continue to prevail, but chestnut and sound wormy show a slight advance. The fall market is expected to be extremely firm. Building nietals. The principal price change of the week in finished products was the establishment of $3.60 mill as the base on tin plate for any delivery. This is an advance of $2 a ton over the old price of $3.50, and was put in effect on Thursday by the principal independents. The steel corporation did not participate in this movement, the American Sheet and Tin Plate Company, the corporation's subsidiary, continuing its old quotation, though it is but normal, as the corporation will not contract into November and December on this basis, and will only accept reservations for tonnage for those months contingent on prices at that time. Building Supplies .Active. Building managers are actively in the market for supplies at this time. Their chief interest is centered in the coal sit¬ uation, whiclT promises to represent an outlay of their appropriation of from 8 to 12 per cent, more than last year. Considerable concern is expressed in re¬ gard to the attitude of the oil market, in view of the fact that the disposition of the oil companies is to increase prices. There is a well defined movement among the leading building managers to lay in stocks of varnishes and paints in antici¬ pation of an increase in the price of kauri gum and linseed oil, affecting principally varnishes. The stiffening of the white lead market, affecting paints, also caiises managers some concern. Managers are also making heavy inquiries just at this time for rubber goods, such as hose, mats and engine room supplies, -which, owing to the heavy demand upon the rubber market now being made by automobile manufacturers, Is expected to restrict supply for other lines.