BUILDING COSTS.

Press, Volume LVIII, Issue 17418, 31 March 1922, Page 8

BUILDING COSTS.

CONSIDERABLY REDUCED. FAVOURABLE TIME TOR OPERATORS. At the present time building operations in the City of Wellington and suburbs are almost at a standstill so ! far as residences axe concerned, and as regards buildings in brick there are only about half a dozen' in hand, and two of these—Parliament Building, and the Colonial Motor Company's tall building in Te Aro, are expected to be completed about July (says Tuesday s "Dominion"). It is believed that contracts for buildings are being held back in the hope tiiat prices will go lower, but those interested in the building trade, and who have been endeavouring to bring down costs anticipate stabilisation at about 50 per cent, above the pre-war level, and they have now about reached that point. Wages, of enter largely into the costs of a building, and while work was plentiful carpenters were scarce, and had to be paid considerably above the award rates, first-class men receiving up to 3s per hour. -Now that there is a scarcity of work, the employers have been able to make adjustments, and the highest rate paid to carpenters is now stated to bo 2s Gd, the award rate being 2s 3jd, bricklayers are receiving 3s, against an award rate of 2s 5Jd, andbuilders' labourers are getting Is lOid, which is the award rate. The bonus is, of course, included in the award rate, and if the Arbitration Court cuts out the bonus, it will be deducted from the rates now ruling. Building timber, which is under control, stands at 38s per hundred exyard, and according to an authority may be reduced slightly. There is a rumour of competition from the West Coast of the South Island; furthermore, most of the sawmills are idle, and idleness will not pay. To stimulate consumption, the price must be lowered, but reduction may not be verymuch as the costs to the sawmillers are still high. In Wellington bricks are quoted at £5 per thousand in the yard and £5 10s delivered, while in Wanganui and Taihape bricks are quoted at £3 12s 6d to £3 15s. There was a time when bricks were selling in the City at 50s to 00s per thousand, chimney bricks at 365. Coal and labour are the principal items in the cost of producing bricks, but these two items have come down, or are tending downwards, and efforts are being made to have tlio cost of bricks reduced by 10s.

Cement was Ted/uced reaently tio £7 10s, equal to about sixpence per bag, and it is Loped that the price of cement will stabilise at £6 per ton, as compared with the pro-war price of £3 10s per ton. Hoofing iron has fallen to £35 iter ton, and the iron that is being sold at the price cost over £7O in store. Baths, which last year could not be •bought at less than £2O, are now obtainable at £lO to £l2; nails are cheaper, and builders' ironmongery is also cheaper. The building regulations of the City Council, with their numerous restrictions, make the cost of buildings heavy, and it is acknowledged that Wellington is the dearest nlace for building. It is stated that if tricks could be reduced in price, and bricklayers' wages lowered from the present standard of 3s per hour, it would be practically as cheap to build in brick as in wood, with the. added advantage of a longer life. :

Estimates show that about 10 per cent, of the cost of a wooden building would be represented by plumbing, and the same for. painting and papering; cost of drainage would vary according to the position of the house. The opinion appears to be that present prices are likely tjO operate for a year or two, if not longer, and what may happen after that it is difficult to forecast. There are many carpenters out. of work just now, and other •labour is in plentiful supply, and labour is giving a better return per unit-now because of the scarcity of employment—Wellington can do with many hundreds of houses just at present. STOAB POE CANTERBURY. • The Department of. Industries and Commerce is advised that the TVanaka will leave Auckland tomorrow with sugar for Lyttelton and Timaru. WAIHI MINE. (PRESS ASSOCIATION TELEGRAM.) AUCKLAND, ifetrch 30. The Waihi mine, during the period 'ended March 18th, crushed 13,195 tons of ore, yielding 3316629 of gold and 30,6930zs of silver. In the previous corresponding period, 12,204 tons yielded BSo6ozs of gold and 23,3040zs of silver. ' SALE OF MILITARY STORES. Many bargains were secured at the sale of military stores conducted ,hy Messrs Macassey and Co. at the Dunedin Drill Hall on Tuesday. The highest prices realised were:— For a'pair of ehoerlegs, £32; for a telescope, £l2 10s; for range-find"rs, £6; for electrical instruments, £5; for office desks, £3 to £4; and for binoculars, up to £4 ss. There was a. good demand for coloured blankets, i pairs were offered, and sold up to 15s a pair. Military rocketsi fetched up to SOs a case, and all went to one purchaser. There was a good competition for flags, which brought £3 10s a set (twenty-seven to a set). There was also good competition for doors with brass fittings, which fetched up to 18s for a lot of four.

TEVIOT FEUIT GECWEBS. At the annual meeting of the Tcviot Fruitgrowers' Association, held at Roxburgh, in moving the adoption of the balance-sheet and annual report, tie chairman congratulated members upon a most successful year, the increase in sales over the previous year being just on £2OOO, the total sales amounting to £6456. He dirow special . attention to the small profit disclosed in the gocris account—£2 9s 7d on a turnover of £6OOO, a fact which demonstrated beyond all doubt that growers were getting their requisites at bedrock prices. He also referred to the remarkably low cost upon which the business of growers had been effected, the expenses of management, amounting to the, small sum of £129, a cost of 2 per cent, upon actual sales. BRITISH TOBACCO COMPANY (AUSTRALIA), LTD. The annual meeting- of shareholders in the British Tobacco Company (Australia), Ltd., will be hel'i in Sydney on the 3rd pros., when the report and balance-sheet for the year ended the 81st January, 1922, will, he presented. This company is merely an investing concern, drawing its revenue from dividends received from its subsidiary companies, the book value of the shares in these coiupiiiies appearing in the balance-sheet at £5,398,060 14s Bd. The net profits derived from these dividends for the year amounted to £759.617 la Gd, making with the balance of £36,178 10s Id brought forward from last year a total of £825,995 lis 7d available for appropriation. Dividends of 12 per cent, on the ordinary shares and 6 per cent, on the preference shares absorbed £750,150 4s 7d, and a sum of £39,445 was paid to the trustees of the Employees' Trust, leaving a balance- of £37,400 7a, to be carried forward. Net Dividends. ReTear ended. profit. Ord. Pref. Am't. serves.

Jan., 1919 . £ I >.c. p.C. £ £ . 661,136 12 6 540,847 33,168 Jan., 1920 . . 569,762 12 . 6 643,671 84,270 Jan., 1921 . . 610,139 W. 6 681,061 86,178 87,400 Jan., 1922 . . 789,817 ia 6 760,160