GtrT YOT]RS From the Cougar Country -The Best in Plyuoods

Februory 1952 Conslruction Expenditures Amounl to $3.9 Billion

The value of total new construction put-in-place in February 1962 amounted to $3.9 billion, according to__preliminary estimates of the Bureau of the Census, Ur S. Department of Commerce. This amount was 6 percent less than tlre revised estimate for January 1962, which is approximately the normal seasonal change expected between January and February. Spending for total new constructron in Febrtrary 1962 wis 5 -perceni above the February 1961 level.

Private Construction

'Iotal neu' private construction expenditures in February 1962 amourtted to $2.8 billion, 6 percent less tl-ran the revised January 1962 level. This was somewhat more than the normal seasonal decline of 4 percent expected between January and February. The February 1962 level was 6 percent greater thatr in February 1961.

Spending for Construction bf Private nonfarm residential bnildings it.t Feb.uary 1962 amounted to $1.5 billion, about 9 perce-nt less than tire revised January 1962 estimate. The normal seasonal change between January and February is a decline of about 6 percent. Expenditures in February 1962 were 13 percent greater than in February 1961.

Public Construction

Total new construction expenditures in Februaty L962 amounted to $1.1 billion, 7 percent less than the revised estimate for January 1962. This \\ras approximately the normal seasonal chartge between January and February-. Spending for public construction in February 1962 was 3 percent more than in February 1961.

Technical Note

Except when special surveys are undertaken, as -was done during -the 1959- steel strike to obtain some information abouithe effect of steel shortages on construction work done, these mouthly estimates are not based on direct measurements. Primirily, they are derived by applying standard progress patterlls ('lvhich reflect normal seasonal movements) to tl.re value of contracts awarded prior to the current month. Hor,vever, in the case of new private housing units, patterns are appliecl to the estiqated value of housirrg stirts tl.rrough the current month. The estimates do not reflect the conditions influencing the volume of activity in ar-ry given month, snch as unusual weather, overtime, p-ostpoirernents, and-except when special surveys are madematerials shortages and work stoppages'

Big Contrq Costq CountyBuilding Progrom

PHONE GR 66681 is reported to be homes a year in expects a similar gearing to an average the $27,000 to $50,000 construction schedule

Plans for a $6 ntillion to $10 million yearly residential building program in Contra Costa county haveteen announced Ly Rheem California Land CompalY. The comDanv was fonned last December bv Donald L. Rheem and hicfiard S. Rheem, Bay Area indusirialists and civic leaders. The nerv firm is eipauding into the home construction field through the acquisitiott of the real estate holdings and buildin operations of the Harold W. Smith Com-pany of Rheem. -Smitft has been named vice president of the Rheem Company, to be in charge of its home-building program. The company of 100 or more ran€Je, and also in multiple units.

Rheem said his company's entry into the home-building field would suoplemenf, not replace, its current association p bf build"rs incluiing Simonds and Stringer, with a group of including Inc., Wird-Gil-"tl, Pettibone Properties, fnc., and Gordon French Construction Co.

WESTERN

Brush