:MAHocAr{Y IMPORTII\G COMPAI{Y

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Consfruction Acrivlty in | 958 Soqrs 2o/o Above 1957 Record

The dollar value of new construction put in place during 1958 totaled $49 billion, about 2/o above the record $48.1 billion spent in 1957, according to preliminary estimates prepared jointly by the Departments of Labor and Commerce. The $34 billion private total matched the alltime lrigh of 1957, and. public outlays rose 6/o to a new peak of $15 billion.

Primarily because of the $1.1 billion drop in industrial building, 1958 was the first year since 1949 that the private total failed to show an over-the-year increase. Private spending reached new highs in 1958 for office buildings and warehouses, schools, and hospitals, and the rate of decline in store building was less than half that experienced in 1957. Construction of churches and related buildings held near tlre record level of 1957, as did outlays for privately owned public utilities.

Private residential construction, after declining in 1956 and 1957, rose 5/o in 1958 to $17.9 billion, but was still4/o below the 1955 peak. The value of work done on new dwelling units began to exceed year-earlier levels in June 1958, an<l tlre gains widened from 8/o in the third cluarter to 17/o in tl.re fourtl-r quarter. Despite this improvement, the 1958 total dollar volume for new dwelling units ($13.4 billion) rvas about $1.6 billion, or ll/o,less than the peak of 1955.

We ore interesled in REHABLE mill ofierings -fumf61 qnd ollied products-complete Southern Colifornio wholesqle distribulion.

Spending last year for additions and alterations to existirrg residences almost equaled the 1957 record,'and the value of work done on new hotels and motels reached a new l-righ.

Highway construction and housing (including Capehart projects for the armed services) contributed the major part of the $900 million expansion in the public total between 7957 and 1958. Highway construction advanced 8/o to a record $5.4 billion, largely because of work put in place on the new interstate highway system.

Relqil Lumber Sqles Hike Shown

Taxable sales of all retailers in California were less by only .6 of one percent than the dollar volume reported for tlre third quarter of 1957, during the similar quarter o{ 1958. 25 classes showed increases, ranging up to 16/o lor Iumber and building material dealers.

The building material retail group continued to lead in the upswing with an LL.Zo/o increase.

Lumber Srock Offering Subscribed

A check for $300,000, marking the first public sale of stock by the First Lumber Corporation, was delivered to Frank Malina, president and director, by Singer, Bean and Mackie. First Lumber operates mills in Washington, Oregon and California.