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June | 962 Consfiuction Expendifurres Amounf To $5.8 Billion

The value of total new construction put-in-place in June 1962 amounted to $5.8 billion, according to preiiminary estimates of the Bureau of Census, U. S. Department of Commerce. This amount was 10 percent more than the estimate for May 1962, compared to a normal seasonal increase of 6 percent expected between May and June. The seasonally adjusted annual rate of $63 billion in June is the highest ever recorded. Spending for total new construction in June 1962 was 10 percent more than in June 1961.

New private construction expenditures in June L962 amounted to $4.1 billion, 8 percent more than the May 1962 level. The increase was appreciably greater than the 4 percent seasonal rise that is normally expected between May and June. The value of work done in lune 1962 was 12 percent greater than in June 1961.

Spending for construction of new private nonfarm residential buildings in June 1962 amounted to $2.5 billion, an increase of about 9 percent above the May 1962 estimates. The over-the-month increment is substantially greater than the normal seasonal increase of 3 percent expected between May and June. Expenditures in June 1962 were 17 percent greater than in June 1961.

Total new public construction expenditures in June 1l)62 amounted to $1.7 billion, 14 percent more than the estimate for May_ 1962. An increase of about 10 percent is normally expected between _I{1y and June. Spenriing for public construction in June 1962 was 6 percent more than in June 1961.

First Six Months Of 1962

Spending for total new construction in the first six months of. 1962 amounted to $27.7 billion, 6 percent above the $26.1 billion spent in the comparable period of 1961. Corresponding values for major componenis of total expenditures were: total private construction $20.0 billion in 1962 and $18.5 in 1961, an increase of 8 percent; private nonfarm residential buildings $11.5 billion in 1962 and, $10.1 billion in 1961, an increase of 14 percent; total public construction expenditures at $7.8 billion in 1962 were 3 percent above the 1961 level.

Jim Wolter Corp. Purchoses Celotex Stock

Jim Walter Corp., Tampa, Florida, shell home builder, has acquired a large interest in Celotex Corp.

It is reported that the company bought at a price of ap proximately $30 a share in excess of 350,000 shaies of Celotex stock, representing about 35/o of the 1,028,000 shares outstanding.

The company said it does not plan to make a tender for additional shares, but may in the future buy them in the market.