lost time. Among projects on which plans have been completed are: A hospital ambulatory ward building to cost $75,000; a hospital medical building, $25,000; hospital utility building with superintendent’s and doctor’s quarters, $50,000; Home for Aged, $50,000; hotels and theater buildings to cost $250,000; many residences casting from $5,000 to $10,000, and a bridge across the Grand River in Mesa County. In Denver the School Board will have a vote on an $8,000,000 bond issue for new high and grade school buildings; the City Council will call for a $3,000,000 bond issue for a new city and county building and a criminal court building in connection with the county jail.
“There is also a half million dollar bank building to be erected as well as many apartment houses, as soon as conditions will permit, and investors now feel that the cost of construction has reached the limit of decrease, which is the all-absorbing factor in present proposed building operations in this section.
“Among other buildings to be constructed in the West are a twelve-story bank and office building in Salt Lake City; a large auditorium in Spokane, Wash.; a similar b uilding in Sterling, Col., and there will be a large amount of school building put up throughout the West this year.’’
* * *
From John A. Murray, merchant and bank director, New York City:
“We have just emerged from a world war, in high spirits but very tired, physically. I believe business is relaxing from the tremendous nervous strain it has been under for the past two years. We are putting our house in order to prepare for business on a peace basis. We are going to have business and have it abundantly. The brains and wealth of the country cannot stand idle. We are built in this country.
“The serious problem before us today is the housing proposition. The solution of it is more buildings, and we are going to build. Supply and demand is the panacea which is going to light the discussion today of cheap labor, cheap material and the unemployed. Money lenders are eager to lend money on safe and sound investments.
“When we start in, it will be gradual, and develop as we proceed. I view in the months before us good business. And why not? We have the great need, the brains and the desire to go forward. We are all eager to get started. We have the money and our money-lending institutions are eager to get their money working. I view with alarm what may happen when we do start, owing to the diminished stocks on hand. It will be doubtful if the demand can promptly be supplied.
William M. Beebe, manager of the Long-Bell Lumber Company, St. Louis:
“It is evident that concerns that loan money on residences and flats in the city and prospective builders do not understand the underlying principles that are causing building material to maintain a very strong market, and even advance, when all other commodities show a decline from week to week.
“The reason for this is that building has been practically stopped for nearly two years. In the meantime lumber was in great demand for cantonments, so that it was almost impossible to produce enough lumber to keep pace with the demand. The stocks in the hands of manufacturers are not over 60 per cent of normal. A high level of lumber values will be maintained for two or three years.
“I predict that as soon as these conditions are thoroughly understood by prospective builders and concerns that loan money on new buildings, the building boom will start and will be the greatest ever known.”
* * *
From Charles Hill, general manager, Southern Pine Sales Corporation, New York City:
“A satisfactory thing to do is to establish a banking arrangement for building purposes on the lines of the Federal Farm Loan Banks. I do not think that borrowers or lenders can expect to do business under present conditions on old methods. Possibly some arrangement could be made of the suggestion to the effect that loans made for buildings at the present time should be amortized to the extent of about 25 per cent within three years, which would protect the loaning institution on any fall in value, and as the builder will during the next three years receive high rentals, perhaps something can be done along this line.
“The manufacturing industry is perhaps in a rather unfortunate situation. There is a public demand for lower prices on basic materials. Unfortunately, the lumber manufacturing industry is not in a position to meet these demands.”
A further large number of opinions which, unfortunately, space does not permit of presentation in this symposium, are along lines as set forth in the above communications. The necessity for an immediate resumption of building operations has never been more clearly demonstrated, nor the methods of financing more accurately set forth.
The Post-War Committee
Every architect should support the work of this committee. It is not one of the Institute alone, but representative of the entire profession in this country.
Send your suggestions promptly to the Committee at the Octagon, Washington, D. C.
“There is also a half million dollar bank building to be erected as well as many apartment houses, as soon as conditions will permit, and investors now feel that the cost of construction has reached the limit of decrease, which is the all-absorbing factor in present proposed building operations in this section.
“Among other buildings to be constructed in the West are a twelve-story bank and office building in Salt Lake City; a large auditorium in Spokane, Wash.; a similar b uilding in Sterling, Col., and there will be a large amount of school building put up throughout the West this year.’’
* * *
From John A. Murray, merchant and bank director, New York City:
“We have just emerged from a world war, in high spirits but very tired, physically. I believe business is relaxing from the tremendous nervous strain it has been under for the past two years. We are putting our house in order to prepare for business on a peace basis. We are going to have business and have it abundantly. The brains and wealth of the country cannot stand idle. We are built in this country.
“The serious problem before us today is the housing proposition. The solution of it is more buildings, and we are going to build. Supply and demand is the panacea which is going to light the discussion today of cheap labor, cheap material and the unemployed. Money lenders are eager to lend money on safe and sound investments.
“When we start in, it will be gradual, and develop as we proceed. I view in the months before us good business. And why not? We have the great need, the brains and the desire to go forward. We are all eager to get started. We have the money and our money-lending institutions are eager to get their money working. I view with alarm what may happen when we do start, owing to the diminished stocks on hand. It will be doubtful if the demand can promptly be supplied.
William M. Beebe, manager of the Long-Bell Lumber Company, St. Louis:
“It is evident that concerns that loan money on residences and flats in the city and prospective builders do not understand the underlying principles that are causing building material to maintain a very strong market, and even advance, when all other commodities show a decline from week to week.
“The reason for this is that building has been practically stopped for nearly two years. In the meantime lumber was in great demand for cantonments, so that it was almost impossible to produce enough lumber to keep pace with the demand. The stocks in the hands of manufacturers are not over 60 per cent of normal. A high level of lumber values will be maintained for two or three years.
“I predict that as soon as these conditions are thoroughly understood by prospective builders and concerns that loan money on new buildings, the building boom will start and will be the greatest ever known.”
* * *
From Charles Hill, general manager, Southern Pine Sales Corporation, New York City:
“A satisfactory thing to do is to establish a banking arrangement for building purposes on the lines of the Federal Farm Loan Banks. I do not think that borrowers or lenders can expect to do business under present conditions on old methods. Possibly some arrangement could be made of the suggestion to the effect that loans made for buildings at the present time should be amortized to the extent of about 25 per cent within three years, which would protect the loaning institution on any fall in value, and as the builder will during the next three years receive high rentals, perhaps something can be done along this line.
“The manufacturing industry is perhaps in a rather unfortunate situation. There is a public demand for lower prices on basic materials. Unfortunately, the lumber manufacturing industry is not in a position to meet these demands.”
A further large number of opinions which, unfortunately, space does not permit of presentation in this symposium, are along lines as set forth in the above communications. The necessity for an immediate resumption of building operations has never been more clearly demonstrated, nor the methods of financing more accurately set forth.
The Post-War Committee
Every architect should support the work of this committee. It is not one of the Institute alone, but representative of the entire profession in this country.
Send your suggestions promptly to the Committee at the Octagon, Washington, D. C.