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ALASKA (yellow) CEDAR
Aanoloct.tt.d ot lrawqrk, Calllotnlo Rcprutan0od in Sogilrern Coltifornio by Amcricon Hordwood Co.
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SAN FRANCISCO 4
June | 962 Consfiuction Expendifurres Amounf To $5.8 Billion
for May_ 1962. An increase of about 10 percent is normally expected between _I{1y and June. Spenriing for public conThe value of total new construction put-in-place in June struction in June 1962 was 6 percent more than in June 1961. FIRST SIX MONTHS OF 1962 1962 amounted to $5.8 billion, according to preiiminary estimates of the Bureau of Census, U. S. Department of ComSpending for total new construction in the first six merce. This amount was 10 percent more than the esti- months of. 1962 amounted to $27.7 billion, 6 percent above mate for May 1962, compared to a normal seasonal increase the $26.1 billion spent in the comparable period of 1961. of 6 percent expected between May and June. The sea- Corresponding values for major componenis of total exsonally adjusted annual rate of $63 billion in June is the penditures were: total private construction $20.0 billion in highest ever recorded. Spending for total new construction 1962 and $18.5 in 1961, an increase of 8 percent; private in June 1962 was 10 percent more than in June 1961. nonfarm residential buildings billion in 1962 and, New private construction expenditures in June L962 $10.1 billion in 1961, an increase$11.5 of 14 percent; total public amounted to $4.1 billion, 8 percent more than the May 1962 construction expenditures at $7.8 billion in 1962 were 3 level. The increase was appreciably greater than the 4 per- percent above the 1961 level. cent seasonal rise that is normally expected between May and June. The value of work done in lune 1962 was 12 perJim Wolter Corp. Purchoses Celotex Stock cent greater than in June 1961. Spending for construction of new private nonfarm resiJim Walter Corp., Tampa, Florida, shell home builder, dential buildings in June 1962 amounted to $2.5 billion, an has acquired a large interest in Celotex Corp. It is reported that the company bought at a price of ap increase of about 9 percent above the May 1962 estimates. The over-the-month increment is substantially greater than proximately $30 a share in excess of 350,000 shaies of Celothe normal seasonal increase of 3 percent expected between tex stock, representing about 35/o of the 1,028,000 shares May and June. Expenditures in June 1962 were 17 percent outstanding. greater than in June 1961. The company said it does not plan to make a tender for Total new public construction expenditures in June 1l)62 additional shares, but may in the future buy them in the amounted to $1.7 billion, 14 percent more than the estimate market.
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