Columbia University Libraries Digital Collections: The Real Estate Record

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770 RECORD AND GUIDE December 2, 1916 ■Illliiilil ■■■lliilll ■ill I CURRENT BUILDING OPERATIONS, I MATERIALS AND SUPPLIES iliiiiililljgjjjli.....illllllllliillllll.....llli.....illiii......■......■■■■I......I...........■IlillliMi.....I.....Illlllllliiilllil—I GENERAL lassitude might be the ap¬ pellation that would most aptly ap¬ ply to the condition of the building .ma¬ terial market during the week just passed. The condition is a normal one, however, when time is taken to consider the fact that the week contained one ot the yearly holidays that is celebrated in some manner by people in all walks of life. The desire to get away to family reunions and other seasonable gather¬ ings combined with the prevalent holi¬ day spirit has left but little time for sustained attention of business matters. Holiday weeks are most generally pe¬ riods of laxity as applied to business, and the week of Thanksgiving is by no means an exception. Notwithstanding the apparent quie¬ tude, there has been quite a definite ten¬ dency toward sharp advances in the prices of some of the commodities used in building construction. This advance applies most particularly to metals and metal products with other inaterials fol¬ lowing the trend in a lesser degree. Ac¬ cording to the present outlook there is no great probability that there will be much of a recessation in building prices for some time to come. The time is now ripe for operators contemplating con¬ struction work during the coming spring and summer to place their orders for building materials at present market prices, and thus insure deliveries when wanted. During the last year the ques¬ tion of deliveries has been almost as important as the matter of price and the experience gained while waiting for ma¬ terials in the past should intluence pros¬ pective builders to anticipate their wants whenever possible. The market for brick and other ma¬ sons' materials has not evidenced much activity owing to the fact that there has been few general contracts placed for important building operations. Nume¬ rous building projects have been figur¬ ing, however, during the week past, and these have had a tendency to stiffen somewhat the prices. The contemplated operations are well distributed through¬ out all five boroughs of the city and nearby towns are reporting considerable activity in contemplated work. During IIBIIIIIi the week there has been a strong move¬ ment of brick into the city, which is being stacked in storage yards against the time that the frozen condition of the river and harbor will make lighter¬ age impossible. The structural steel market has fol¬ lowed the trend of the metal situation and has witnessed the placing of orders for considerable tonnage both for city and out of town delivery. One of the noteworthy orders of the week is that placed by Milliken Bros., Inc., for 1,600 tons of structural steel, to be used in thu construction of the train storage yard at 229th street and VVhite Plains road for the F'ublic Service Commission. Dur¬ ing the week the Lehigh Valley Rail¬ road has taken estimates for a large t9n- nage to be utilized in the construction of bridges and the structural steel re¬ quired for important local operations has been figured. The market for pig iron has been very firm and a number of large tonnage or¬ ders have been placed at prices that have sustained a sharp advance. The advance in price for this commodity during the past month has been considerable, but has had no apparent tendency to check orders. Recent advices state that prac¬ tically all of the large furnaces have closed for enough tonnage orders to car¬ ry them throughout the coming year. The labor situation has remained re¬ markably quiet. Practically all of the mechanics engaged in the various build¬ ing lines are engaged at full, time. In New York and vicinity there is still a considerable shortage of skilled me¬ chanics in some lines owing to the con¬ tinued deinand for operatives in the manufacture of war munitions. When this demand ceases a great number of hands will be thrown back into their original lines of endeavor which will re¬ lieve a situation that for some time has been more or less acute. The recent flurry in the coal market seems to be subsiding. The continua¬ tion of favorable weather with its de¬ creased demand, combined with better freight facilities, will surely be respon¬ sible for a return of this commodity to a price that will be but little higher than normal. Brick.—The brick market advanced in price during the past week, although the demand for that commodity fell off some¬ what, a situation undoubtedly due to the holiday. Arrivals during the week were comparatively heavy for this time of the year, and if the favorable weather con¬ tinues there should be enough brick de¬ livered to this city to supply the winter needs. Since last week the price has ad¬ vanced to $9.50 a thousand, in cargo lots to dealers. This price is for Hudson River brick, there being no Raritan River brick obtainable at this time. The out¬ look for a busy winter building season is a favorable one and there is no doubt that the price now current will be sub¬ stantially increased before next spring. SUMMARY.—Transactions in the North River brick market for the week ending Friday, De¬ cember 1, 1916; Condition ot market: Demand good, prices higher. Quotations; Hudson Rivers, $9.50 to $0.75, to dealers in cargo lots alongside dock. Number of cargoes left over from last week, 5 ; arrived, 55; sold, 49. Distribution: Manhat¬ tan, 14; Brooklyn, 17; Bronx, 0; New Jersey points, 8; Astoria, 1, Flushing, 2. Lett over Friday, December 1, 18. Iron and Steel.—Lehigh Valley fur¬ naces announced an advance in iron prices amounting to $1.50 to $2 a ton, putting No. 2X iron on a basis of $29 furnace. American Steel & Wire Co. has ad¬ vanced prices of wire products $3 per ton effective at once, makin.g wire nails $3, plain wire $2.95. The advance was made necessary by the recent advance of $4 per ton in steel bars. Wire rods are also strong and higher, but no official price is given; at the same time, the American Steel & Wire Co. will accept no orders under $60 per ton, whereas a few weeks ago, large sales were made at $57.50. Ex¬ port contracts for rods have been taken recently at between $70 and $75 per ton and the demand is far from satisfied. The advance in prices of wire products is the second change in schedule by the largest interests this month. The pre¬ vious advance of $3 per ton was an¬ nounced by the American Steel & Wire Co. on November 4, making the total advance this month $6 per ton. Metal Lath.—The Associated Metal Lath Manufacturers have conducted fire tests in the East and the West to deter¬ mine the exact value of expanded metal lath construction from the angle of fire- resisting construction. The results of these tests have been distributed to the architects and builders of the country and have given them information that probably would never have been com¬ piled in any other wav. Tests are being conducted by the Bu- real of Standards at Washington for this association to determine the best mix¬ tures to use in connection with metal lath for stucco work. Also to determine what construction methods should be followed in erecting stucco. The question of obtaining a construc¬ tion for partitions that will be sound¬ proof is of great importance. The As¬ sociated Metal Lath Manufacturers are having an investigation made by one of the largest universities to determine the value of various construction methods. Arrangements have also been made for a series of tests by the Board of Under¬ writers, to establish the exact standing of metal lath construction as a fire-re¬ sisting construction for all classes of work. The value of the work of this associa¬ tion to the building industry is that all of this data will be available to every person interested in building from manu¬ facturer to the consumer or owner. Electrical Equipinent.—Prices have ad¬ vanced on the average in the past twelve months, 25 per cent., exclusive of the advances in wire and wire products. An electrical authority says production costs have increased more than 25 per cent., but expenses, such as overhead, have de¬ creased in per cent., owing to the vol¬ ume of business handled. Still, it is not believed that the decrease has been suf¬ ficient to offset the increased cost in per cent, of labor and materials. "Gross profits are, of course, greater this year than in any previous year. Dur¬ ing no previous twelve months were elec¬ trical factories ever so rushed with work. Never has there been such a difference between production facilities and volume of unfilled orders." Insulator prices have advanced four times in the last year and are still un¬ stable. In spite of these advances, which have aggregated about 30 per cent., still higher prices are in prospect for the not distant future. Labor conditions, more than any other one item, are said to be responsible for this price situation. Be¬ cause many insulator factories are in that section of the country where the munitions business is most flourishing mechanics are being continually enticed into the war plants by extraordinary wage offers. Lumber.—Considering the season, a fair demand for lumber continues, and the recent advance in prices hold firmly. Competition for business among re¬ tailers is not so keen as it was. At the annual meeting of the New York Lumber Trade Association the trustees reported the lighterage situa¬ tion to be one of great concern, adding: "Through the inadequate team track service furnished by the various rail¬ roads entering this port you are obliged to receive nearly all your deliveries of lumber by lighter so far as Manhattan Island and parts of Brooklyn are con¬ cerned. Any action on the part of the railroad companies to abolish this light¬ erage service without adequate and nearby team track terminal facilities is one that should be fought to the end. There appears to be an inclination on the part of the railroad companies, or at least some of them, to discontinue the service. Letters of protest to the Inter¬ state Commerce Commission in such matters have little weight. This will have to be fought out in the regular routine procedure of the_ Interstate Commerce Commission. It is our opin¬ ion that in the event that it becomes necessary for us to take this matter up before the Interstate Commerce Com¬ mission, it be fought to the end." Coal.—The market is quieting down as prices recede. Quotations vary from day to day. The advance of bituminous coal has been more serious for busi¬ ness interests than that of anthracite. Four months ago the wholesale price was $1.25 a ton. Recently the bitumin¬ ous grades have brought as high as $8. The high price has added greatly to cost of manufacturing certain materials. Sash Weights.—This is the season for closing in buildings and installing sash weights. A year ago sash weights were quoted in this territory at $25 per ton to dealers and at the present time $32.50. RECORD AND GUIDE aUOTATIONS ARE ACCEPTED AS OFFICIAL BY BUILDING MATERIAL EXCHANGES.