SECURITIES AND EXCHANGE COMMISSION
                WASHINGTON, D.C. 20549

                       Form 10-K

 X   ANNUAL  REPORT PURSUANT TO SECTION 13 OR 15(d)  OF
     THE SECURITIES EXCHANGE ACT OF 1934

      For the fiscal year ended December 31, 1999
                          OR

___  TRANSITION REPORT PURSUANT TO SECTION 13 OR  15(d)
     OF THE SECURITIES EXCHANGE ACT OF 1934

    For the transition period ________ to ________
            Commission File Number:  1-7525

               The Goldfield Corporation
(Exact Name of Registrant as Specified in its Charter)
   Delaware                            88-0031580
(State or other                       (IRS Employer
jurisdiction of                    Identification Number)
incorporation or
organization)

      100 Rialto Place, Suite 500
           Melbourne, Florida                  32901
(Address of principal executive offices)     (Zip Code)
                      (321) 724-1700
   (Registrant's telephone number, including area code)
     Securities registered pursuant to Section 12(b)
                        of the Act:

  Title  of each class          Name of each exchange on
      Common Stock,                 which registered
Par  Value $.10 per share    The  American Stock Exchange

     Securities registered pursuant to Section 12(g)
                        of the Act:
                           None
  Indicate by check mark whether the registrant (1) has
filed all reports required to be filed by Section 13 or
15(d) of the Securities Exchange Act of 1934 during the
preceding  12 months (or for such shorter  period  that
the  registrant was required to file such reports), and
(2)  has  been subject to such filing requirements  for
the past 90 days.
                      Yes  X     No ___
   Indicate  by check mark if disclosure of  delinquent
filers  pursuant to Item 405 of Regulation S-K  is  not
contained  herein,  and will not be contained,  to  the
best of registrant's knowledge, in definitive proxy  or
information  statements incorporated  by  reference  in
Part  III  of this Form 10-K or any amendment  to  this
Form 10-K. [X]

   On  February  22, 2000, the aggregate  market  value
(based  upon  the closing price on The  American  Stock
Exchange)   of  the  common   stock   held   by
nonaffiliates was approximately $13.1 million.

   As  of  February 22, 2000, 26,854,748 shares of  the
Registrant's common stock were outstanding.

            Documents Incorporated by Reference
             Document                   Where Incorporated
Proxy Statement for 2000 Annual Meeting      Part III



                            PART I

Item 1. Business.

The  Goldfield Corporation, incorporated in Wyoming  in
1906  and  subsequently reincorporated in  Delaware  in
1968,  is engaged in electrical construction, including
the   placement  of  fiber  optic  cable,  and   mining
activities. Unless the context otherwise requires,  the
terms  "Goldfield" and "the Company" as used herein  to
mean  The  Goldfield Corporation and  its  consolidated
subsidiaries.    For   information  concerning   sales,
operating  profits and identifiable assets by  business
segment, see note 15 of notes to consolidated financial
statements.

                   Electrical Construction

The  Company,  through its subsidiary  Southeast  Power
Corporation  ("Southeast Power"),  is  engaged  in  the
construction  and maintenance of electrical  facilities
for   utilities   and  industrial  customers   in   the
southeastern  United States. The Company also  installs
fiber  optic cable for fiber optic cable manufacturers,
telecommunication companies and electric  utilities  as
far west as the Rocky Mountain states.

The  Company's construction business through  Southeast
Power  includes the construction of transmission lines,
distribution   systems   and  substations   and   other
electrical  installation services for  utility  systems
and  industrial  and specialty projects.   Fiber  optic
cable  installation  includes both overhead  (OPGW  and
ADSS) and underground placement.

It is the Company's policy to commit itself only to the
amount  of  work it believes it can properly supervise,
equip  and complete to the customer's satisfaction  and
schedule.  As a result of this policy and the magnitude
of  some of the construction projects undertaken by the
Company, a substantial portion of the Company's  annual
revenue  is derived from a relatively small  number  of
customers,  the  specific identity of which  vary  from
year  to  year.  See note 15 of notes  to  consolidated
financial statements.

Construction is customarily performed pursuant  to  the
plans  and  specifications of  customers.  The  Company
generally  supplies the management,  labor,  equipment,
tools   and,  except  with  respect  to  some   utility
customers,  the  materials  necessary  to  construct  a
project. Contracts may extend beyond one year, although
most projects are completed within 90 days.

The   electrical   construction  business   is   highly
competitive.  A portion of the electrical  construction
work  requires  payment  and  performance  bonds.   The
Company has adequate bonding availability.

The  Company  enters into contracts  on  the  basis  of
either competitive bidding or direct negotiations  with
its  customers. Competitively bid contracts account for
a  majority  of  the  Company's construction  revenues.
Although  there is considerable variation in the  terms
of  the  contracts undertaken, such contracts typically
involve  either  lump  sum  or  unit  price  contracts,
pursuant to which the Company agrees to do the work for
a fixed amount.

The  magnitude  and duration of projects undertaken  by
the  Company  vary,  which may  result  in  substantial
fluctuations  in  its backlog from time  to  time.   At
February 15, 2000, the approximate value of uncompleted
contracts  was  $15,800,000, compared to $7,580,000  at
February 1, 1999 and $1,500,000 at March 1, 1998.

As  of February 1, 2000, electrical construction had  a
staff  of  11  salaried employees, including  executive
officers,  division managers, superintendents,  project
managers and administrative personnel.  In addition, at
such  date, electrical construction had 81 hourly-rated
employees, none of whom are affiliated with  any  trade
or  labor  organization.  The  number  of  hourly-rated
employees fluctuates depending upon the number and size
of  projects under construction at any particular time.
The Company believes that the experience and continuity
of  its  employees has been an important factor in  its
success.   Management  of  the  Company  believes   its
relations  with  both  its salaried  and  hourly  rated
employees are good.

The  Company is subject to the authority of  state  and
municipal   regulatory  bodies   concerned   with   the
licensing of contractors. The Company believes that  it
is  in  compliance with such licensing requirements  in
all jurisdictions in which it conducts its business.

The   administrative  and  maintenance  facilities   of
Southeast Power are located on a 13-acre tract of  land
near  Titusville,  Florida,  which  is  owned  by   the
Company.   The office building has 3,744 feet of  floor
space  and the shop and buildings contain approximately
17,000 feet of floor space.

                        Mining

The  Company,  through its subsidiaries, explores  for,
mines,   processes  and  markets  industrial  minerals,
aggregate  products and base and precious  metals  from
properties located in New Mexico.

The   Company  does  not  consider  itself  to   be   a
significant factor in the mining industry, except  with
respect to natural zeolites.  The Company competes with
other  companies in the search for and the  acquisition
of   mining   properties  and  their  exploration   and
development.    Many   of   these   competitors    have
substantially  greater  financial  resources  than  the
Company,   which  may  give  them  certain  competitive
advantages,   especially  with  respect   to   projects
requiring large amounts of capital.

The  Company's  mining operations are  subject  to  the
jurisdiction   of   federal  and   state   governmental
authorities,    which    have    responsibility     for
environmental  matters such as air and  water  quality,
the   promotion   of  occupational  safety   and   mine
reclamation.  The  Company has in  the  past  reclaimed
mining areas, tailing impoundments and other associated
disturbances and expects to continue to do  so  in  the
future.   Costs of such reclamation are charged against
earnings   as  incurred.   Future  costs   or   capital
expenditures   relating  to  the  protection   of   the
environment are not expected to have a material adverse
effect on the Company's earnings.  The Company believes
that  compliance with mine reclamation  laws  will  not
adversely  affect  the  competitive  position  of   its
operations since competitors in the mining industry are
subject  to  the same laws.  The Company holds  federal
and  state environmental permits and licenses  required
for the operation of its mining activities.

St. Cloud - Industrial Minerals

St.  Cloud Mining Company, a Florida corporation  ("St.
Cloud"),  is  a wholly owned subsidiary of the  Company
and  operates the St. Cloud mill and mining  properties
in  Sierra County, New Mexico.  The St. Cloud mill  and
mining  properties encompass approximately 1,900  acres
of  fee  lands,  mineral leases and  unpatented  mining
claims,  which are estimated to include several million
tons  of  geologic  reserves  of  natural  zeolites,  a
special type of volcanic ash (clinoptilolite).

The  clinoptilolite mineral occurs in flat  lying  beds
and  is  extracted  by  conventional  open  pit  mining
methods.   At  the  St. Cloud mill, the  clinoptilolite
minerals   are   crushed,  dried,  and  sized   without
beneficiation and shipped in bulk, packaged or modified
to  customer's specifications.  Most deliveries are  by
contract  motor carriers to manufacturers, brokers,  or
independent sales agents who incorporate zeolites  into
consumer products or for specific industrial uses.

Zeolite  markets  include animal feed supplements,  cat
litter,  industrial  fillers and  absorbents,  air  and
water filtration media, environmental products and soil
conditioners.   The zeolite product  is  also  used  in
other  applications where ammonia control  or  specific
cation exchange capacity is required.

In 1999, St. Cloud sold 15,908 tons of natural zeolite,
compared  to  14,095 tons and 15,013 tons in  1998  and
1997,  respectively.  St. Cloud's production facilities
include  drying,  warehousing,  bagging,  blending  and
additional classification capabilities.

At  February  1,  2000, St. Cloud had  a  total  of  25
full-time  employees, none of whom are affiliated  with
trade or labor organizations.

St. Cloud - Base and Precious Metals Mining

Since  1968,  the  Company has  been  involved  in  the
exploration, mining and milling of silver,  copper  and
gold  ores  at  the  St.  Cloud  property.   Production
commenced  at St. Cloud in 1981. Production was  halted
in  1992 due to declining metal prices and mine grades.
St.  Cloud's viability is sensitive to the future price
of  base  and  precious  metals,  particularly  silver.
Significant portions of the Company's investment in St.
Cloud's   silver   mines,  processing  facilities   and
equipment were written-down at the end of 1993.

St.  Cloud currently estimates their indicated reserves
to   be  approximately  349,500  tons  averaging  0.70%
copper,  5.95  ounces silver per ton and  0.031  ounces
gold  per  ton.  Based  on current  metal  prices,  the
Company believes that the above-estimated reserves  are
not, at present, economically recoverable.

As  part of the industrial mineral operations, as  well
as  the  Company's  construction  aggregate  operations
described   below,   the  Company   provides   off-site
construction    services   utilizing   personnel    and
equipment.  Such  construction projects  have  included
restoring an endangered species habitat, closure  of  a
municipal    landfill,   and   providing   construction
aggregates for road projects.

Management  of  the Company reviews  the  net  carrying
value  of all mining facilities on a periodic basis  to
determine,  among other factors, (1) the net realizable
value  of  each major project, (2) the ability  of  the
Company  to  fund  all  care, maintenance  and  standby
costs, (3) the status and usage of the assets while  in
a  standby  mode,  to determine whether  some  form  of
amortization is appropriate and (4) current projections
of  metal prices that affect the decision to reopen  or
make a disposition of the Company's assets.

Lordsburg

The Lordsburg Mining Company, a wholly owned subsidiary
of  the Company ("Lordsburg"), owns approximately 1,800
acres  of  fee  lands,  mineral leases  and  unpatented
mining  claims  which  include  certain  mining  claims
leased  in the Lordsburg Mining District, and  existing
milling   facilities,  buildings  and  other   personal
property located on the claims.

Indicated  reserves are estimated to  be  103,800  tons
averaging 0.53% copper, 1.0 ounces silver per  ton  and
0.097  ounces  gold  per ton. Based  on  current  metal
prices   and  operating  costs,  the  above   estimated
reserves are not, at present, economically recoverable.

Lordsburg  sold  5,152  tons of construction  aggregate
material  in 1999, compared to 16,547 tons  and  24,553
tons  in  1998  and  1997, respectively.  Although  the
Company   has   continued  production  of  construction
aggregates at Lordsburg, a final decision with  respect
to  the  future operations at Lordsburg  has  not  been
reached.

At  February  1,  2000, Lordsburg  had  a  total  of  2
full-time employees in New Mexico, neither of  whom  is
affiliated with trade or labor organizations.

Item 2.  Properties.

For   information   with  respect  to   the   principal
properties  and  equipment utilized  in  the  Company's
mining  and  electrical  construction  operations,  see
"Item 1. Business."

The Company's principal office is located in Melbourne,
Florida, where the Company leases 4,503 square feet  of
space  at an annual rental rate of $68,940.  The lease,
which  expires in January 2001, may be renewed for  one
additional three-year term.

Item 3.  Legal Proceedings.

There  is  no material pending legal proceeding,  other
than  routine litigation incidental to the business  of
the  Company,  to  which  the Company  or  any  of  its
subsidiaries  is  a  party or to  which  any  of  their
property is subject.

Item 4.  Submission of Matters to a Vote  of  Security
         Holders.

No  matter was submitted to a vote of security  holders
during the fourth quarter of 1999.


                         PART II

Item 5.  Market   for  Registrant's  Common  Equity   and
         Related Stockholder Matters.

The  Common  Stock  of the Company  is  traded  on  The
American Stock Exchange under the symbol GV.  The
following  table shows the reported high and low  sales
price  at  which  the Common Stock of the  Company  was
traded in 1999 and 1998:

<TABLE>
                                1999          1998
                             High   Low    High   Low
      <S>                    <C>    <C>    <C>    <C>
      First Quarter          5/16   3/16   7/16   5/16
      Second Quarter         5/16   3/16   3/8    5/16
      Third Quarter          5/16   3/16   7/16   1/4
      Fourth Quarter         3/8    1/4    5/16   3/16
</TABLE>

As  of  March  1,  2000, the Company had  approximately
13,350 holders of record.

The  Company has paid no cash dividends on  its  Common
Stock  since  1933,  and it is not  expected  that  the
Company will pay any cash dividends on its Common Stock
in the immediate future.

Item 6.  Selected Financial Data.

The  following  table  sets forth summary  consolidated
financial  information of the Company for each  of  the
years in the five-year period ended December 31, 1999:

<TABLE>
                                       Years Ended December 31,
                               1999    1998       1997     1996      1995
                                (in thousands except per share amounts)
  <S>                        <C>      <C>       <C>      <C>       <C>
Statements of Operations
  Total revenues             $20,461  $16,782   $15,974  $13,544   $13,328
  Net   income (loss)          2,476     (610)      414     (338)     (678)
  Earnings (loss)
    per share of
    common stock                0.09    (0.02)     0.01    (0.01)    (0.03)
Balance Sheets
  Total assets                16,296   14,213    13,967   13,652    13,847
  Working capital              7,507    6,144     6,371    5,934     6,241
    Stockholders' equity      14,653   12,200    12,834   12,443    12,805
</TABLE>

Item 7.  Management's   Discussion   and   Analysis    of
         Financial Condition and Results of Operations.

                 Results of Operations

Net Income (Loss)
The  Company had net income of $2,476,235 for the  year
ended  December 31, 1999, compared to  a  net  loss  of
$609,630 for the year ended December 31, 1998 and a net
income  of  $413,971  for the year ended  December  31,
1997.  Results for 1999 included a recovery of $374,584
relating  to impairment losses of $354,156 included  in
results  for  the  year  ended December  31,  1998,  as
discussed  in  Note  5  to  the consolidated  financial
statements.

Net  income  (loss)  for the years ended  December  31,
1999, 1998 and 1997, included an income tax benefit  of
$478,671   and  income  tax  expense  of  $23,322   and
$340,731, respectively.

Revenues
Total  revenues for 1999 were $20,461,463  compared  to
$16,781,913   and  $15,974,357  in   1998   and   1997,
respectively.  A  22% increase of 1999  over  1998  was
primarily   attributable  to  electrical   construction
revenue.

Electrical  construction revenue increased  by  25%  in
1999  to  $18,113,797  from $14,447,808  for  1998  and
$13,742,723  for 1997. Electrical construction  revenue
includes   the   results   of  the   Company's   former
subsidiary, Fiber Optic Services, Inc. ("Fiber Optic"),
a  fiber   optic   cable   splicing    business.
Fiber   Optic   had   revenue,  net   of   intercompany
elimination, of $592,244 for 1999, compared to $805,783
for  1998  and $1,114,954 for 1997. Effective June  30,
1999,   the   Company  sold  to  an   unrelated   party
substantially  all the net assets of Fiber  Optic at the
recorded   net   book   value  thereof,   approximately
$525,070.

Revenue  from  mining operations  increased  by  2%  to
$2,073,777  for  the  year  ended  1999,  compared   to
$2,041,259 in 1998 and $1,814,583 in 1997.

Operating Results
Electrical  construction operations  had  an  operating
profit of $3,073,756 during 1999, compared to operating
profits  of $1,232,711 in 1998 and $1,715,608 in  1997.
The increase in operating results in 1999 was primarily
due   to  increased  revenue  and  profit  margin  from
transmission line construction.  The varying  magnitude
and  duration  of electrical construction projects  may
result  in  substantial fluctuation  in  the  Company's
backlog  from time to time. At February 15,  2000,  the
approximate   value   of  uncompleted   contracts   was
$15,800,000,  compared  to $7,580,000  at  February  1,
1999.

The   operating  profit  from  mining  operations   was
$108,284  for  1999,  compared to operating  losses  of
$656,538  and  $82,003 for 1998 and 1997, respectively.
The  operating results from mining operations  in  1999
included   the  recovery  of  $374,584  of   previously
recorded  impairment losses related to the Harlan  Coal
Royalty and the San Pedro mine (see note 5 of notes  to
consolidated financial statements).  The 1998 operating
results  from mining included a charge of $354,156  for
this impairment loss. The operating results from mining
included depreciation expense of $309,206 during  1999,
compared to $313,701 in 1998.

Other Income
Other  income  for  1999  was  $273,889,  compared   to
$292,846  and $407,051 for 1998 and 1997, respectively.
The  decrease in other income for 1999 was primarily  a
result of lower interest income.

Costs and Expenses
Total  costs and expenses, and the components  thereof,
increased  to $18,463,899 for 1999 from $17,368,221  in
1998  and  $15,219,655 in 1997 as a result of increased
electrical construction costs.

Electrical   construction   costs   were   $14,302,105,
$12,522,747  and $11,361,069 in 1999,  1998  and  1997,
respectively.  The  increase  in  costs  for  1999  was
attributable to a higher level of activity.

Mining  costs  were  $2,030,871 for 1999,  compared  to
$2,029,940 in 1998 and $1,565,801 in 1997.

Depreciation and amortization was $1,108,931 for  1999,
compared to $1,072,876 in 1998 and $1,058,403 in 1997.

General corporate expenses of the Company increased  to
$1,458,365  in  1999,  from  $1,455,327  in  1998   and
$1,285,954 in 1997.

            Liquidity and Capital Resources

Cash  and  cash equivalents at December 31,  1999  were
$5,719,163 as compared to $2,616,465 as of December 31,
1998.   Working  capital  at  December  31,  1999   was
$7,507,357,  compared  to $6,143,737  at  December  31,
1998.  The Company's ratio of current assets to current
liabilities increased to 5.7 to 1 at December 31, 1999,
from 4.1 to 1 at December 31, 1998.

The  Company  does not enter into financial instruments
for  trading  purposes.  Financial instruments  consist
principally  of cash and cash equivalents with  limited
market risk sensitivity.

The  Company  paid  cash  dividends  on  its  Series  A
Preferred Stock in the amount of $17,819 in each of the
years  ended  December 31, 1999, 1998  and  1997.   The
Company has paid no cash dividends on its Common  Stock
since  1933,  and it is not expected that  the  Company
will pay any cash dividends on its Common Stock in  the
immediate future.

Pursuant  to  an  unsecured line  of  credit  agreement
between  the  Company's  subsidiary,  Southeast   Power
Corporation, and SunTrust Bank of Central Florida, N.A.
(guaranteed by the Company), Southeast Power may borrow
up  to $1,000,000 at the bank's prime rate of interest.
This  credit line expires June 30, 2000, at which  time
the Company expects to renew it for an additional year.
No  borrowings  were  outstanding under  this  line  of
credit  during the years ended December  31,  1999  and
1998.   However, since 1996, $100,000 of this  line  of
credit  has  been  reserved for  a  standby  letter  of
credit.

The  Company's capital expenditures for the year  ended
December   31,   1999  increased  to  $1,655,913   from
$1,193,684 for 1998.  Capital expenditures in 2000  are
expected  to  be  approximately $3,000,000,  which  the
Company  expects  to  finance  through  existing   cash
reserves  or credit facilities.  This increase  in  the
level  of  capital expenditures is to  accommodate  the
increased   level  of  operations  in   the   Company's
electrical construction segment.

                 Year 2000 Compliance

In  the  past,  many computers, software programs,  and
other information technology ("IT systems"), as well as
other  equipment relying on microprocessors or  similar
circuitry ("non-IT systems"), were written or  designed
using  two  digits,  rather than four,  to  define  the
applicable year.  As a result, if not addressed,  these
systems  may  not have been able to properly  interpret
dates  beyond  the Year 1999, which  may  have  led  to
business   disruptions.   Accordingly,   the    Company
identified   and   performed   all   needed    material
modifications and testing of significant  systems,  and
communicated  with  customers,  suppliers,  banks   and
others  with  whom  it  does  significant  business  to
determine  their Year 2000 readiness and the extent  to
which   the   Company  was  vulnerable  to  any   other
organization's Year 2000 issues.

The Company considers the transition into the year 2000
successful  from  the perspective of its  systems.   In
addition to the changeover to January 1, 2000,  it  has
been  shown  that certain other dates may also  present
similar   problems  for  some  systems.   The   Company
continues  to  monitor  the situation.   To  date,  the
Company  has  not  experienced any material  Year  2000
issues  with  respect  to  its  systems,  customers  or
suppliers.

The  Company  estimates  that the  total  cost  to  the
Company  of  Year 2000 activities has  been  less  than
$10,000.


Item 8.  Financial Statements and Supplementary Data.


             Independent Auditors' Report


The Shareholders and Board of Directors
The Goldfield Corporation:

We  have  audited the consolidated financial statements
of The Goldfield Corporation and subsidiaries as listed
in the accompanying index. These consolidated financial
statements  are  the responsibility  of  the  Company's
management.   Our  responsibility  is  to  express   an
opinion  on  these  consolidated  financial  statements
based on our audits.

We  conducted  our audits in accordance with  generally
accepted  auditing standards.  Those standards  require
that we plan and perform the audit to obtain reasonable
assurance  about whether the financial  statements  are
free  of  material  misstatement.   An  audit  includes
examining,  on  a test basis, evidence  supporting  the
amounts  and  disclosures in the financial  statements.
An   audit   also  includes  assessing  the  accounting
principles  used  and  significant  estimates  made  by
management, as well as evaluating the overall financial
statement  presentation.  We believe  that  our  audits
provide a reasonable basis for our opinion.

In  our  opinion, the consolidated financial statements
referred  to  above  present fairly,  in  all  material
respects,  the  financial  position  of  The  Goldfield
Corporation and subsidiaries at December 31,  1999  and
1998,  and  the results of their operations  and  their
cash  flows  for  each of the years in  the  three-year
period  ended  December 31, 1999,  in  conformity  with
generally accepted accounting principles.



/s/
KPMG LLP


Orlando, Florida
February 15, 2000


<TABLE>
                         THE GOLDFIELD CORPORATION
                             and Subsidiaries

                       CONSOLIDATED BALANCE SHEETS

                                                           December 31,
                                                      1999             1998
<S>                                               <C>              <C>
ASSETS
Current assets
  Cash and cash equivalents                       $ 5,719,163      $ 2,616,465
  Accounts receivable and accrued billings          2,315,682        3,133,855
  Current portion of notes receivable                  42,383          123,393
  Inventories (Note 2)                                351,458          346,799
  Costs and estimated earnings in excess of
    billings on uncompleted contracts (Note 3)        139,051        1,793,119
  Prepaid expenses and other current assets           535,845           83,428
    Total current assets                            9,103,582        8,097,059
Property, buildings and equipment, net (Note 4)     4,626,695        4,450,256
Notes receivable, less current portion                251,563          293,956
Deferred charges and other assets
  Deferred income taxes (Note 6)                    1,150,000          548,000
  Land held for sale                                  385,296           52,448
  Cash surrender value of life insurance (Note 7)     779,100          771,430
    Total deferred charges and other assets         2,314,396        1,371,878
Total assets                                      $16,296,236      $14,213,149
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
  Accounts payable and accrued liabilities
    (Note 8)                                      $ 1,453,707      $ 1,905,457
  Billings in excess of costs and estimated
    earnings on uncompleted contracts (Note 3)         59,974           13,769
  Current portion of deferred gain on
    installment sales                                  10,905           10,774
  Income taxes payable (Note 6)                        71,639           23,322
    Total current liabilities                       1,596,225        1,953,322

Deferred gain on installment sales, less
  current portion                                      47,303           59,596
Total liabilities                                   1,643,528        2,012,918
Stockholders' equity
  Preferred stock, $1 par value per share,
    5,000,000 shares authorized; issued and
    outstanding 339,407 shares of Series A
    7% voting cumulative convertible stock
    (Note 9)                                          339,407          339,407
  Common stock, $.10 par value per share,
    40,000,000 shares authorized; issued and
    outstanding 26,872,106 shares
    (Notes 9, 10 and 11)                            2,687,211        2,687,211
  Capital surplus                                  18,369,860       18,369,860
  Accumulated deficit                              (6,725,050)      (9,177,527)
    Total                                          14,671,428       12,218,951
  Less common stock in treasury, 17,358
    shares, at cost                                    18,720           18,720
    Total stockholders' equity                     14,652,708       12,200,231
Total liabilities and stockholders' equity        $16,296,236      $14,213,149

See accompanying notes to consolidated financial statements
</TABLE>


<TABLE>
                         THE GOLDFIELD CORPORATION
                             and Subsidiaries

                  CONSOLIDATED STATEMENTS OF OPERATIONS


                                             Years Ended December 31,
                                      1999            1998            1997
<S>                                <C>             <C>             <C>
Revenue
  Electrical construction          $18,113,797     $14,447,808     $13,742,723
  Mining                             2,073,777       2,041,259       1,814,583
  Royalty income                            --              --          10,000
  Other income, net (Note 12)          273,889         292,846         407,051
    Total revenue                   20,461,463      16,781,913      15,974,357

Costs and expenses
  Electrical construction           14,302,105      12,522,747      11,361,069
  Mining                             2,030,871       2,029,940       1,565,801
  Depreciation and amortization      1,108,931       1,072,876       1,058,403
  Impairment (recoveries) losses
    (Note 5)                          (374,584)        354,156              --
  General and administrative         1,396,576       1,388,502       1,234,382
    Total costs and expenses        18,463,899      17,368,221      15,219,655

Income (loss) from operations
  before income taxes                1,997,564        (586,308)        754,702

Income taxes (benefit) (Note 6)       (478,671)         23,322         340,731

Net income (loss)                    2,476,235        (609,630)        413,971

Preferred stock dividends               23,758          23,758          23,758

Income (loss) available to
  common stockholders              $ 2,452,477     $  (633,388)    $   390,213

Basic and diluted earnings (loss)
  per share of common stock
  (Note 11)                        $      0.09     $     (0.02)    $      0.01

Weighted average number of
  common shares outstanding         26,854,748      26,854,748      26,854,748

See accompanying notes to consolidated financial statements
</TABLE>



<TABLE>
                          THE GOLDFIELD CORPORATION
                             and Subsidiaries

                    CONSOLIDATED STATEMENTS OF CASH FLOWS


                                               Years Ended December 31,
                                          1999          1998           1997
<S>                                    <C>           <C>            <C>
Cash flows from operating activities
   Net income (loss)                   $2,476,235    $ (609,630)    $  413,971
Adjustments to reconcile net
  income (loss) to net
  cash provided by (used in)
  operating activities
  Depreciation and amortization         1,108,931     1,072,876      1,058,403
  Impairment losses                            --       354,156             --
  Deferred income taxes                  (602,000)           --        312,000
  (Gain) loss on sale of property
    and equipment                         (20,509)       32,215        (14,499)
  Gain on disposition of land
    held for sale                         (52,950)      (87,785)       (66,535)
  Deferral of gain arising from
    installment land sales                 40,788       140,377             --
  Cash provided from (used by)
    changes in
     Accounts receivable and accrued
       billings                           535,825    (1,304,211)      (409,374)
     Inventories                           (4,659)     (128,297)         9,547
     Costs and estimated earnings
       in excess of billings on
       uncompleted contracts            1,654,068    (1,001,759)      (191,058)
     Prepaid expenses and other
       current assets                    (475,688)       (9,060)       (10,574)
     Accounts payable and accrued
       liabilities                       (373,111)      988,553        (37,087)
     Billings in excess of costs
       and estimated earnings on
       uncompleted contracts               46,205       (59,279)        (1,023)
     Income taxes payable                  48,317        (5,409)        28,731
         Net cash provided by (used in)
           operating activities         4,381,452      (617,253)     1,092,502

Cash flows from investing activities
  Proceeds from the disposal of
     property and equipment                92,962       161,534        110,215
  Proceeds from sale of subsidiary        525,070            --             --
  Issuance of notes receivable           (171,748)     (245,145)      (139,969)
  Proceeds from notes receivable          295,151       224,318        303,318
  Purchases of property and equipment  (1,655,913)   (1,193,684)    (1,450,914)
  Net acquisition of land held for sale  (332,848)      (52,448)            --
  Cash surrender value of life
    insurance                              (7,670)      (34,380)      (104,311)
    Net cash used by investing
      activities                       (1,254,996)   (1,139,805)    (1,281,661)

Cash flows from financing activities
  Payments of preferred stock
    dividends                             (23,758)      (23,758)       (23,758)

Net increase (decrease) in cash
  and cash equivalents                  3,102,698    (1,780,816)      (212,917)
Cash and cash equivalents at
  beginning of period                   2,616,465     4,397,281      4,610,198
Cash and cash equivalents at
  end of period                        $5,719,163    $2,616,465     $4,397,281

Supplemental disclosure of cash
  flow information:
  Income taxes paid                    $   75,012    $   28,731     $      --

See accompanying notes to consolidated financial statements
</TABLE>


<TABLE>
                          THE GOLDFIELD CORPORATION
                              and Subsidiaries

              CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY


                                              Years Ended December 31,
                                        1999            1998            1997
<S>                                   <C>           <C>           <C>
STOCKHOLDERS' EQUITY
ACCUMULATED       Beginning balance   $(9,177,527)  $(8,544,139)  $ (8,934,352)
DEFICIT           Net income (loss)     2,476,235      (609,630)       413,971
                  Cash dividends
                   Series A Stock
                   (per share:  7%)       (23,758)      (23,758)       (23,758)
                  Ending balance       (6,725,050)   (9,177,527)    (8,544,139)

PREFERRED         Beginning and
STOCK SERIES A     ending balance         339,407       339,407        339,407

COMMON STOCK      Beginning and
                   ending balance       2,687,211     2,687,211      2,687,211

CAPITAL           Beginning and
SURPLUS            ending balance      18,369,860    18,369,860     18,369,860

TREASURY STOCK    Beginning and
                   ending balance         (18,720)      (18,720)       (18,720)

                  Total consolidated
                   stockholders'
                   equity             $14,652,708    $12,200,231   $12,833,619



SHARES OF CAPITAL STOCK
PREFERRED         Beginning and ending
STOCK SERIES A     number of shares       339,407        339,407       339,407

COMMON STOCK      Beginning and ending
                   number of shares    26,872,106     26,872,106    26,872,106

TREASURY STOCK    Beginning and ending
                   number of shares        17,358         17,358        17,358

See accompanying notes to consolidated financial statements
</TABLE>



               THE GOLDFIELD CORPORATION
                   and Subsidiaries

      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
              December 31, 1999 and 1998


Note 1 - Summary of Significant Accounting Policies

Basis   of  Financial  Statement  Presentation  -   The
accompanying consolidated financial statements  include
the  accounts  of The Goldfield Corporation  ("Parent")
and  its wholly owned subsidiaries (collectively,  "the
Company").   All significant intercompany balances  and
transactions have been eliminated.

Nature of Operations - The Company's principal lines of
business are electrical construction and the mining  of
industrial  minerals  as  well  as  base  and  precious
metals.    The  principal  market  for  the   Company's
electrical construction operation is electric utilities
in  the  southeastern  United  States.   The  principal
markets   for  the  Company's  mining  operations   are
purchasers  of zeolite products throughout  the  United
States.

Cash  and Cash Equivalents - The Company considers  all
highly  liquid  investments with a  maturity  of  three
months or less when purchased to be cash equivalents.

Inventories  - Inventories are valued at the  lower  of
cost  or  market. Cost is determined by  the  first-in,
first-out method.  Costs associated with extraction and
milling  or  production activities are inventoried  and
valued  at  lower  of cost or estimated  final  smelter
settlement or net sales (net realizable value).

Property,  Buildings,  Equipment  and  Depreciation   -
Property, buildings and equipment are stated  at  cost.
The   Company   provides  depreciation  for   financial
reporting purposes over the estimated useful  lives  of
fixed  assets  using  the straight-line  and  units-of-
production methods.

Mining  Revenues  -  Zeolite sales  are  recorded  upon
delivery.  Other  sales are recorded in  the  month  of
delivery.   Recorded  values are adjusted  periodically
and upon final settlement.

Mine  Exploration  and Development - Exploration  costs
and  normal  development costs at operating  mines  are
charged to operations as incurred.

Electrical Contracts - Revenues are earned under  fixed
price   contracts  and  units  of  delivery  contracts.
Revenues  from units of delivery contracts are recorded
as  the  service is performed.  For completed units  of
delivery  contracts, the revenue  is  based  on  actual
billings.   For uncompleted units of delivery contracts
the revenue is based on actual labor hours incurred and
estimated  final  billing rates.  Revenues  from  fixed
price  construction  contracts are  recognized  on  the
percentage-of-completion method measured  by  comparing
the costs incurred to date to the estimated total costs
to  be  incurred for each contract.  The asset,  "costs
and  estimated  earnings  in  excess  of  billings   on
uncompleted  contracts" represents revenues  recognized
in  excess of amounts billed.  The liability, "billings
in   excess   of  costs  and  estimated   earnings   on
uncompleted contracts" represents billings in excess of
revenue recognized.

Contract  costs  include  all direct  material,  direct
labor,  subcontractor  costs and other  indirect  costs
related  to  contract performance,  such  as  supplies,
tools  and  repairs.  General and administrative  costs
are  charged  to  expense as incurred.  Provisions  for
estimated losses on uncompleted contracts are  made  in
the   period  in  which  such  losses  are  determined.
Changes  in job performance, job conditions,  estimated
profitability and final contract settlements may result
in  revisions to costs and income and are recognized in
the period in which the revisions are determined.

Income  Taxes  - The Company accounts for income  taxes
using  the asset and liability method.  Under the asset
and   liability   method,  deferred  tax   assets   and
liabilities   are  recognized  for   the   future   tax
consequences  attributable to differences  between  the
financial statement carrying amounts of existing assets
and   liabilities  and  their  respective  tax   bases.
Deferred tax assets and liabilities are measured  using
enacted  tax rates expected to apply to taxable  income
in  the years in which those temporary differences  are
expected  to  be recovered or settled.  The  effect  on
deferred tax assets and liabilities of a change in  tax
rates  is  recognized  in income  in  the  period  that
includes the enactment date.

Executive  Long-term  Incentive  Plan  -  The   Company
applies  the intrinsic value-based method of accounting
prescribed  by  Accounting  Principles  Board   ("APB")
Opinion  No.  25,  "Accounting  for  Stock  Issued   to
Employees," and related interpretations, in  accounting
for   its   fixed   plan  stock  options.    As   such,
compensation expense would be recorded on the  date  of
grant   only  if  the  current  market  price  of   the
underlying stock exceeded the exercise price.  SFAS No.
123,   "Accounting   for   Stock-Based   Compensation,"
established   accounting  and  disclosure  requirements
using a fair value-based method of accounting for stock-
based employee compensation plans.  As allowed by  SFAS
No.  123, the Company has elected to continue to  apply
the   intrinsic   value-based  method   of   accounting
described   above,  and  has  adopted  the   disclosure
requirements of SFAS No. 123.

Use of Estimates - Management of the Company has made a
number  of  estimates and assumptions relating  to  the
reporting  of assets and liabilities and the disclosure
of  contingent assets and liabilities to prepare  these
financial   statements  in  conformity  with  generally
accepted  accounting principles.  Actual results  could
differ from those estimates.  Management considers  the
most  significant estimate in preparing these financial
statements  to  be  the  estimated  cost  to   complete
electrical contracts in progress.

Financial  Instruments  Fair  Value,  Concentration  of
Business  and  Credit  Risks  -  The  carrying   amount
reported  in  the  balance  sheet  for  cash  and  cash
equivalents, accounts receivable and accrued  billings,
accounts  payable and accrued liabilities  approximates
fair  value  because  of  the immediate  or  short-term
maturity of these financial instruments. The fair value
of  notes  receivable is considered  by  management  to
approximate   carrying  value.   Financial  instruments
which potentially subject the Company to concentrations
of   credit   risk  consist  principally  of   accounts
receivable,  accrued  billings  and  retainage  in  the
amount  of  $2,106,638 at December 31,  1999  due  from
electrical  utilities pursuant to contract terms.   The
Company considers these electrical utility customers to
be creditworthy.

Reclassifications - Certain amounts in  1998  and  1997
have   been  reclassified  to  conform  to   the   1999
presentation.

Note 2 - Inventories

Inventories at December 31 consisted of:

<TABLE>
                                 1999         1998
<S>                            <C>         <C>
Materials and supplies         $177,991    $257,788
Industrial mineral products      91,886      72,212
Ores in process                  81,581      16,799
Total inventories              $351,458    $346,799
</TABLE>

Note  3  -  Costs and Estimated Earnings on Uncompleted
            Contracts

Long-term   fixed  price  construction   contracts   in
progress   accounted   for  using  the   percentage-of-
completion method at December 31 consisted of:

<TABLE>
                                                  1999         1998
<S>                                            <C>         <C>
Costs incurred  on  uncompleted contracts      $4,997,862  $3,201,099
Estimated earnings                              1,429,301   1,719,030
                                                6,427,163   4,920,129
Less billings to date                           6,348,086   3,140,779
                                               $   79,077  $1,779,350
Included  in  the balance  sheets
  under the following captions
    Costs and estimated earnings
      in excess of billings on
      uncompleted contracts                      $139,051  $1,793,119
    Billings in excess of  costs
      and estimated earnings
      on uncompleted contracts                   (59,974)     (13,769)
Total                                           $ 79,077   $1,779,350
</TABLE>

The  amounts billed but not paid by customers  pursuant
to   retention  provisions  of  long-term  construction
contracts  were $102,742 and $202,095 at  December  31,
1999   and  1998,  respectively.  Such  retainage   are
expected to be collected within the next twelve months.

Note 4 - Property, Buildings and Equipment

Balances of major classes of properties at December  31
consisted of:

<TABLE>
                                   1999         1998
<S>                            <C>          <C>
Land, mines and mining claims  $ 5,266,753  $ 5,266,753
Buildings and improvements       1,816,859    1,732,442
Machinery and equipment         15,794,733   15,542,364
Construction in progress            16,930      128,723
   Total                        22,895,275   22,670,282
Less accumulated
  depreciation, depletion
  and amortization              18,268,580   18,220,026
Net properties, buildings
  and equipment                $ 4,626,695  $ 4,450,256
</TABLE>

As  a  matter  of  policy, management  of  the  Company
reviews  the  net  carrying value  of  all  properties,
buildings  and  equipment on a periodic  basis.   As  a
result  of  such  review, no write-down was  considered
necessary  during  any of the years in  the  three-year
period ended December 31, 1999.

Note 5 - Impairment Recoveries and Losses

The  Company had a note receivable from the sale of the
capital  stock  of the San Pedro Mining Corporation  in
April   1993.   During  the  third  quarter  of   1998,
management  determined the note  receivable  to  be  an
impaired   asset  and  wrote-off  the  unpaid  balance.
Future   discounted  cash  flows  were   estimated   by
management  to  be  zero primarily due  to  anticipated
legal  and  reclamation costs. The impairment  loss  of
$258,538  was  separately identified as a component  of
continuing  operations.  The loss, which was recognized
in  the  third  quarter of 1998, was  included  in  the
Company's  operating results from mining.   During  the
second and third quarters of 1999, the Company received
a  deed  in  lieu of foreclosure for the real property,
water  rights and other assets and a bill  of  sale  in
lieu of foreclosure for certain equipment in connection
with  this  mining  property.   The  Company  has  sold
certain  of these assets for cash and a note receivable
resulting   in   recovery   of  previously   recognized
impairment losses.  The recovery of $321,084  has  been
separately   identified  in  the  Company's   operating
results from mining.

During   the  second  quarter  of  1999,  the   Company
recovered $53,500 relating to its previous write-off in
the  second  quarter  of 1998, of  a  coal  royalty  it
retained  in  property  it formerly  owned  in  Harlan,
Kentucky.  The Company recognized an impairment loss of
$95,618  in  the  second quarter  of  1998,  which  was
separately  identified and included  in  the  Company's
operating results from mining.  The recovery of $53,500
has   been   separately  identified  in  the  Company's
operating results from mining.

Note 6 - Income Taxes

The  income tax provisions for the years ended December
31 consisted of:

<TABLE>
                  1999        1998        1997
<S>             <C>          <C>        <C>
Current
  Federal       $ 39,000     $    --     $  5,000
  State           84,329       23,322      23,731
                 123,329       23,322      28,731
Deferred
  Federal       (495,000)          --     261,000
  State         (107,000)          --      51,000
                (602,000)          --     312,000
Total           (478,671)     $23,322    $340,731
</TABLE>


Temporary  differences  and carryforwards,  which  give
rise  to  deferred  tax assets and  liabilities  as  of
December 31, consisted of:

<TABLE>
                                                       1999         1998
<S>                                             <C>           <C>
Deferred tax assets
   Depletion, mineral rights  and deferred
     development and  exploration costs          $   322,000   $  354,000
   Accrued  workers' compensation costs                9,000       11,000
   Note  receivable,  principally
     due to allowance                                     --      135,000
   Accrued vacation and bonus                        240,000       25,000
   Property    and   equipment,
     principally due   to   differences
     in depreciation and valuation write-
     downs                                           289,000      325,000
   Contingent  salary   payments recorded
     as goodwill for tax purposes                     37,000        7,000
   Net operating loss carryforwards                1,884,000    2,722,000
   Investment tax credit carryforwards                 9,000        9,000
   Alternative minimum tax credit
     carryforwards                                   301,000      262,000
                                                   3,091,000    3,850,000
Valuation allowance for  deferred
  tax assets                                      (1,941,000)  (3,265,000)
  Total deferred tax assets                        1,150,000      585,000

Deferred tax liabilities
  Deferred  gain  on  sale of subsidiary                  --      (37,000)
  Total net deferred tax assets                   $1,150,000   $  548,000
</TABLE>

The  Company  has  recorded a  valuation  allowance  to
reflect  the  estimated amount of deferred tax  assets,
which   may   not   be  realized.  In   assessing   the
realizability   of  deferred  tax  assets,   management
considers whether it is more likely than not that  some
portion or all of the deferred tax assets will  not  be
realized.   The  ultimate realization of  deferred  tax
assets  is  dependent  upon the  generation  of  future
taxable  income  during  the  periods  in  which  those
temporary  differences  become deductible.   Management
considers the projected future taxable income  and  tax
planning  strategies  in making this  assessment.   The
Company  decreased  the  valuation  allowance  for  net
deferred  tax assets by $1,324,000 for the  year  ended
December 31, 1999.

At December 31, 1999, the Company had tax net operating
loss    carryforwards   of   approximately   $4,951,000
available  to  offset  future regular  taxable  income,
which if unused, will expire from 2001 through 2018.

The   Company  has  alternative  minimum   tax   credit
carryforwards  of  approximately  $301,000,  which  are
available to reduce future Federal income taxes over an
indefinite period.

The  differences between the Company's effective income
tax  rate and the Federal statutory rate for the  years
ended December 31 are reconciled below:

<TABLE>
                                        1999     1998     1997
<S>                                     <C>     <C>       <C>
Federal statutory rate (benefit)        34.0%   (34.0)%   34.0%
State income tax                         4.2      3.8      6.5
Non-deductible expenses                  2.6      6.6      2.5
Expiration of investment tax credits      --     32.8      7.4
Valuation allowance                    (64.8)    (5.4)    (5.2)
Total                                  (24.0)%    3.8%    45.2%
</TABLE>

Note 7 - Employee Benefit Agreements and 401(k) Plan

Beginning  in  1989, the Company entered into  employee
benefit  agreements  with  certain  employees  of   the
Company.   Under  the  terms  of  the  agreements,  the
Company  buys life insurance policies that  build  cash
surrender  value  while also providing  life  insurance
benefits for the employee.  The Company is entitled  to
a  refund  of all previously paid premiums or the  cash
surrender  value of the policy, whichever is lower,  if
the  agreement  is  terminated prior  to  the  employee
attaining the age of 65.  After an employee reaches age
65,  the  Company  is  entitled  to  a  refund  of  all
previously  paid  premiums in ten annual  installments.
In  the event of death, the Company will immediately be
entitled  to a refund of all previously paid  premiums.
The Company may terminate the agreements at any time by
giving written notice to the employee.

Effective  January  1, 1995, the  Company  adopted  The
Goldfield Corporation and Subsidiaries Employee Savings
and  Retirement Plan, a defined contribution plan  that
qualifies under Section 401(k) of the Internal  Revenue
Code.   The  plan provides retirement benefits  to  all
employees  who meet eligibility requirements and  elect
to   participate.    Under  the   plan,   participating
employees  may  defer  up  to  15%  of  their   pre-tax
compensation  per  calendar year  subject  to  Internal
Revenue  Code  limits.  The Company's contributions  to
the   plan   are   discretionary   and   amounted    to
approximately  $116,000, $95,000 and  $96,000  for  the
years   ended  December  31,  1999,  1998   and   1997,
respectively.

Note 8 - Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities at December 31
consisted of:

<TABLE>
                                      1999        1998
<S>                               <C>         <C>
Accounts payable                  $  562,105  $1,277,929
Bonuses                              589,099     331,267
Payroll and related expenses         160,805     149,300
Worker's compensation
  insurance reserve                   22,437      29,927
Insurance                             15,026      80,157
Other                                104,235      36,877
Total                             $1,453,707  $1,905,457
</TABLE>

Note 9 - Preferred and Common Stock

The Series A 7% Voting Cumulative Convertible Preferred
Stock  ("Series  A Stock") is convertible  into  common
stock,  presently  at the rate of  1.144929  shares  of
common stock for each share of Series A Stock, and  has
an  annual dividend rate of $.07 per share.  The Series
A Stock may be redeemed by the Company at par.  Holders
of  the  Series A Stock have the same voting rights  as
common stockholders (except under certain circumstances
arising from the failure to pay dividends on the Series
A  Stock)  and have certain rights not held  by  common
stockholders  such  as preferences in  liquidation  and
controlling voting rights in certain mergers, sales and
amendments to the Certificate of Incorporation.

At December 31, 1999, 26,872,106 shares of Common Stock
were  issued,  388,597  shares  of  Common  Stock  were
reserved for possible conversion of the Series A  Stock
and  985,000 shares were reserved for possible exercise
of  options to purchase Common Stock issued  under  the
1998 Executive Long-term Incentive Plan.

Note 10 - The Goldfield Corporation 1998 Executive Long-
          term Incentive Plan

In  1998  the stockholders of the Company approved  the
1998  Executive Long-term Incentive Plan (the  "Plan"),
which   permits  the  granting  of  Nonqualified  Stock
Options,  Incentive  Stock Options, Stock  Appreciation
Rights,  Restricted  Stock,  Restricted  Stock   Units,
Performance  Units, Performance Share and other  awards
to  all  officers and key employees of the Company  and
its  subsidiaries. Shares granted pursuant to the  Plan
may  be authorized but unissued shares of Common Stock,
Treasury shares or shares purchased on the open market.
The  exercise price under such grants will be based  on
the  fair market value of the Common Stock at the  date
of  grant.  The maximum number of shares available  for
grant under the Plan is 1,300,000.  The options must be
exercised within 10 years of the date of grant.  As  of
December  31, 1999, options to purchase 985,000  shares
(exercisable at $0.22 per share, the fair market  value
of  the  Common  Stock at the date of grant)  had  been
granted.   No options were outstanding at December  31,
1998.

A summary of option transactions follows:

<TABLE>
                                                                  Weighted
                                                                  average
                                           Range of   Weighted    remaining
                                           exercise   average    contractual
                                            prices    exercise      life
                                Shares     per share   price      (in year)
<C>                            <C>         <C>        <C>           <C>
Balance outstanding,
  December 31, 1998                  --     $  --      $  --
Shares granted on
  March 9, 1999                 985,000      0.22       0.22
Balance outstanding
  December 31, 1999             985,000     $0.22      $0.22         9.18
</TABLE>

The  per  share  weighted average fair value  of  stock
options granted was $0.20 in 1999 on the date of  grant
using  the Black Scholes option-pricing model with  the
following weighted average assumptions:

<TABLE>
                              1999
<S>                          <C>
Volatility                   101.5%
Dividend paid                   --
Risk-free interest rate       5.25%
Expected life in years          10
</TABLE>

All  stock  options granted, except  as  noted  in  the
paragraph below, have been granted to officers and  key
employees  with  an exercise price equal  to  the  fair
value  of  the Common Stock at the date of grant.   The
Company  applies  APB Opinion No. 25 for  issuances  to
officers  and key employees in accounting for its  Plan
and,   accordingly,  no  compensation  cost  has   been
recognized  in  the  consolidated financial  statements
through December 31, 1999.

On  March  9,  1999, the Company granted 985,000  stock
options  with  an exercise price of $0.22  and  a  fair
value  of  $0.20.   The  Company  did  not  record  any
compensation expense at the date of grant.

Had  the Company determined compensation cost based  on
the  fair value at the grant date for its stock options
under  SFAS No. 123, the Company's income available  to
common  stockholders would have decreased  to  the  pro
forma amounts indicated below:

<TABLE>
                                                             1999
<S>                                                       <C>
Income available to common stockholders as reported       $2,452,477
Pro  forma net income available to common stockholders    $2,411,802
Earnings per share, as reported:
  Basic and diluted                                            $0.09
Pro forma earnings per share:
  Basic and diluted                                            $0.09
</TABLE>

Note  11  -  Basic Earnings (Loss) Per Share of  Common
             Stock

Basic earnings (loss) per common share, after deducting
dividend  requirements  on the Company's  Series  A  7%
Voting  Cumulative Convertible Preferred Stock ("Series
A  Stock")  of  $23,758  in each  of  the  years  ended
December  31,  1999, 1998 and 1997, were based  on  the
weighted  average  number of  shares  of  Common  Stock
outstanding, excluding 17,358 shares of Treasury  Stock
for each of the years ended December 31, 1999, 1998 and
1997.  Common shares issuable on conversion of Series A
Stock  are not considered in the basic earnings  (loss)
calculation  because  their inclusion  would  be  anti-
dilutive.

Note 12 - Other Income, Net

Other  income,  net  for the years  ended  December  31
consisted of:

<TABLE>
                                              1999         1998         1997
<S>                                         <C>          <C>          <C>
Interest income                             $183,004     $221,775     $300,241
Recognized gain on installment sale
  of subsidiary                                   --           --       66,313
Recognized gain on installment sale of lots   52,950       87,785          222
Gain (loss) on sale of equipment              20,509      (32,215)      14,499
Other                                         17,426       15,501       25,776
Total other income, net                     $273,889     $292,846     $407,051
</TABLE>

Note 13 - Credit Facility

Under  an unsecured line of credit arrangement expiring
June   30,  2000  (guaranteed  by  the  Company),   the
Company's electrical construction subsidiary may borrow
up  to $1,000,000 at the bank's prime rate of interest.
At  December  31,  1999 and 1998,  no  borrowings  were
outstanding under this line of credit; however,  during
1999  and  1998,  $100,000 of the line  of  credit  was
reserved  for  a  standby  letter  of  credit  for  the
outstanding  self-insured workers compensation  claims.
All  stated conditions related to this available credit
line have been complied with in 1999 and 1998.

Note 14 - Financial Assurances

The Company has provided third party guarantees for the
Company's  wholly owned mining subsidiaries, St.  Cloud
Mining  Company  and The Lordsburg Mining  Company,  in
favor  of the State of New Mexico's Mining and Minerals
Division  of the Energy, Minerals and Natural Resources
Department  ("Financial Assurances").  These  Financial
Assurances,  amounting to $269,787, guarantee  approved
post  mine  reclamation plans for the Company's  mines.
The Company has also provided a Financial Assurance for
$74,145  to  guarantee approved post  mine  reclamation
plans for the San Pedro Mine.  The Company sold the San
Pedro  Mine to an unrelated third party during 1999  as
discussed in Note 5.

Note 15 - Business Segment Information

The  Company  adopted  SFAS No. 131,  Disclosure  About
Segments  of an Enterprise and Related Information,  in
1998.  The adoption of this statement did not have  any
effect   on   either  the  current  or   prior   years'
presentation  of reportable segments.  The  Company  is
primarily involved in two lines of business, mining and
electrical   construction.   There  were  no   material
amounts of sales or transfers between lines of business
and no material amounts of export sales.

Any  intersegment  sales  have  been  eliminated.   The
following  table sets forth certain segment information
for the periods indicated:

<TABLE>
                                     1999         1998         1997
<S>                             <C>          <C>          <C>
Sales  from operations
  to unaffiliated customers
    Electrical construction     $18,113,797  $14,447,808  $13,742,723
    Mining                        2,073,777    2,041,259    1,814,583
Total                           $20,187,574  $16,489,067  $15,557,306

Gross profit
  Electrical construction        $3,073,756   $1,232,711   $1,715,608
  Mining                            108,284     (656,538)     (82,003)
Total gross profit                3,182,040      576,173    1,633,605

Interest   and   other
  income, net                       273,889      292,846      407,051
General corporate expenses       (1,458,365)  (1,455,327)  (1,285,954)
  Income (loss)  from
    operations before
    income taxes                 $1,997,564   $ (586,308)  $  754,702


The following  table
  sets forth certain
  segment information
  as of the date indicated:         1999         1998          1997
Identifiable assets
  Electrical construction       $ 9,872,851  $ 8,916,375   $ 7,365,219
  Mining                          2,796,696    2,586,344     2,745,216
  Corporate                       3,626,689    2,710,430     3,856,107
Total                           $16,296,236  $14,213,149   $13,966,542

Capital expenditures
  Electrical construction        $1,311,940   $  901,347    $1,120,678
  Mining                            271,837      191,034       152,783
  Corporate                          72,136      101,303       177,453
Total                            $1,655,913   $1,193,684    $1,450,914

Depreciation and depletion
  Electrical construction        $  737,936   $  692,350    $  666,047
  Mining                            309,206      313,701       340,784
  Corporate                          61,789       66,825        51,572
Total                            $1,108,931   $1,072,876    $1,058,403
</TABLE>

Gross  profit is total operating revenue less operating
expenses.   Gross  profit  excludes  general  corporate
expenses, interest expense, interest income and  income
taxes. Royalty income (loss) and impairment losses  and
recoveries  are  included in the calculation  of  gross
profit  for the mining segment. Identifiable assets  by
industry are used in the operations of each industry.

Sales  (in  thousands of dollars)  to  major  customers
exceeding 10% of total sales follows:

<TABLE>
                         1999                1998             1997
                              % of               % of              % of
                              Total              Total             Total
                    Amount    Sales     Amount   Sales   Amount    Sales
<S>                 <C>        <C>     <C>        <C>     <C>       <C>
Electrical construction
  Customer A                                              $2,910     19
  Customer B        $2,764      14
  Customer C                                               1,526     10
  Customer D         2,988      15      $2,321     14      3,383     22
  Customer E         2,499      12       2,490     15
  Customer F         3,529      17
</TABLE>

Item 9. Changes  In  and Disagreements With Accountants
        on Accounting and Financial Disclosure.
None.

                       PART III

Item  10.   Directors  and Executive  Officers  of  the
            Registrant.

Information  concerning the directors  of  the  Company
will be contained under "Election of Directors" in  the
Company's  2000  Proxy Statement, which information  is
incorporated by reference.

The executive officers of the Company are as follows:

<TABLE>
                                         Year In Which
                                         Service Began
      Name and Title(1)                    As Officer         Age
  <S>                                         <C>              <C>
  John H. Sottile
    Chairman of the Board of
    Directors, President and
    Chief Executive Officer,
    Director                                  1983             52

  Dwight W. Severs
    Secretary, Director                       1998             56

  Stephen R. Wherry,
    Vice President, Treasurer
    and Chief Financial Officer               1988             41

(1) As of March 1, 2000.
</TABLE>

Throughout  the  past five years John  H.  Sottile  and
Stephen  R.  Wherry have been principally  employed  as
executive officers of the Company.

John H. Sottile has served as Chairman of the Board  of
Directors since May 1998.

Dwight  W.  Severs has been a director since  1998  and
Secretary of  the  Company  since  November  1999.  Mr.
Severs has held the position of  City Attorney  for  the
City of Titusville,  Florida since September 1971 (full-
time since January 1999).  Since March  1998,  Mr.
Severs has been a principal  for  the firm of Dwight W.
Severs & Associates, P.A.  Mr. Severs was  a  member  of
the law firm of Severs,  Stadler  & Harris, P.A.
between January 1995 and March 1998.

The  term of office of all directors is until the  next
annual  meeting and the term of office of all  officers
are  for one year and until their successors are chosen
and qualify.

Item 11. Executive Compensation.

Information concerning executive compensation  will  be
contained   under  "Executive  Compensation"   in   the
Company's  2000  Proxy Statement, which information  is
incorporated herein by reference.

Item 12. Security   Ownership  of  Certain   Beneficial
         Owners and Management.

Information  concerning the security ownership  of  the
directors  and  officers  of  the  registrant  will  be
contained  under  "Ownership of  Voting  Securities  by
Certain  Beneficial  Owners  and  Management"  in   the
Company's  2000  Proxy Statement, which information  is
incorporated herein by reference.

Item 13. Certain   Relationships   and    Related
         Transactions.

Information   concerning  relationships   and   related
transactions  of  the  directors and  officers  of  the
Company will be contained under "Election of Directors"
in   the   Company's   2000  Proxy   Statement,   which
information is incorporated herein by reference.


                        PART IV

Item 14. Exhibits, Financial Statement Schedules, and
         Reports on Form 8-K.


(a) Financial Statements                                       Page

Report of Independent Certified Public Accountants              11

Consolidated Balance Sheets - December 31, 1999 and 1998        12

Consolidated Statements of Operations - Three Years
  ended December 31, 1999                                       13

Consolidated Statements of Cash Flows - Three Years
  ended December 31, 1999                                       14

Consolidated Statements of Stockholders' Equity -
  Three Years ended December 31, 1999                           15

Notes to Consolidated Financial Statements                      16

(b) Reports on Form 8-K

       No  reports  on Form 8-K were filed  during  the
       fourth quarter ended December 31, 1999.

 (c) Exhibits

  3-1     Restated Certificate of Incorporation  of  the
          Company,  as  amended, is hereby incorporated
          by  reference to Exhibit 3-1 of the Company's
          Annual Report on Form 10-K for the year ended
          December 31, 1987, heretofore filed with  the
          Commission (file No. 1-7525).

  3-2     By-Laws  of the Company, as amended, is hereby
          incorporated by reference to Exhibit  3-2  of
          the  Company's Annual Report on Form 10-K for
          the  year ended December 31, 1987, heretofore
          filed with the Commission (file No. 1-7525).

  4-1     Action  by  Unanimous Consent  of  Holders  of
          Preferred Stock as of September 30, 1979  per
          manently  waiving  mandatory  redemption   is
          hereby  incorporated by reference to  Exhibit
          3-5  of  the Company's Registration Statement
          on  Form  S-l, No. 2-65781, heretofore  filed
          with the Commission on November 28, 1979.

  4-2     Specimen   copy  of  Company's  Common   Stock
          certificate   is   hereby   incorporated   by
          reference  to  Exhibit 4-5 of  the  Company's
          Annual Report on Form 10-K for the year ended
          December 31, 1987, heretofore filed with  the
          Commission (file No. 1-7525).

  4-3     The Goldfield Corporation 1998 Executive Long-
          term Incentive Plan is hereby incorporated by
          reference   to   the  Company's  Registration
          Statement   on   Form  S-8,  No.   333-72241,
          heretofore  filed  with  the  Commission   on
          February 12, 1999.

  10-2    Employment  Agreement  effective  January  15,
          1985  between  The Goldfield Corporation  and
          John  H.  Sottile  is hereby incorporated  by
          reference  to  Exhibit 10-6 of the  Company's
          Registration  Statement  on  Form  S-l,   No.
          33-3866, heretofore filed with the Commission
          on March 10, 1986.

  10-2(a) Amendment  dated  February  25,  1986  to  the
          Employment Agreement included in Exhibit 10-2
          is   hereby  incorporated  by  reference   to
          Exhibit 10-6(a) of the Company's Registration
          Statement   on   Form   S-l,   No.   33-3866,
          heretofore filed with the Commission on March
          10, 1986.


 10-2(b)  Amendment   dated  September   23,   1988   to
          Employment  Agreement effective  January  15,
          1985  between  The Goldfield Corporation  and
          John  H.  Sottile  is hereby incorporated  by
          reference to Exhibit 10-2(b) to the Company's
          report  on  Form 10-Q for the  quarter  ended
          September 30, 1988, heretofore filed with the
          Commission (file No. 1-7525).

  10-2(c) Amendment   dated   February   27,   1990   to
          Employment  Agreement effective  January  15,
          1985  between  The Goldfield Corporation  and
          John  H.  Sottile, is hereby incorporated  by
          reference to Exhibit 10-2(c) of the Company's
          Annual Report on Form 10-K for the year ended
          December 31, 1989, heretofore filed with  the
          Commission (file No. 1-7525).

  10-2(d) Amendment   dated   January   29,   1992    to
          Employment  Agreement effective  January  15,
          1985  between  The Goldfield Corporation  and
          John  H.  Sottile, is hereby incorporated  by
          reference to Exhibit 10-2(d) of the Company's
          Annual Report on Form 10-K for the year ended
          December 31, 1991, heretofore filed with  the
          Commission (file No. 1-7525).

  10-2(e) Amendment   dated  September   15,   1995   to
          Employment  Agreement effective  January  15,
          1985  between  The Goldfield Corporation  and
          John  H.  Sottile, is hereby incorporated  by
          reference to Exhibit 10-2(e) of the Company's
          report  on  Form 10-Q for the  quarter  ended
          September 30, 1995, heretofore filed with the
          Commission (file No. 1-7525).

  10-2(f) Amendment   dated  September   20,   1999   to
          Employment  Agreement effective  January  15,
          1985  between  The Goldfield Corporation  and
          John  H.  Sottile, is hereby incorporated  by
          reference to Exhibit 10-2(f) of the Company's
          report  on  Form 10-Q for the  quarter  ended
          September 30, 1999, heretofore filed with the
          Commission (file No. 1-7525).

  10-3    Employment  Agreement dated  January  1,  1986
          among   John  H.  Sottile,  Southeast   Power
          Corporation and The Goldfield Corporation  is
          hereby  incorporated by reference to  Exhibit
          10-8  of the Company's Registration Statement
          on  Form  S-l, No. 33-3866, heretofore  filed
          with the Commission on March 10, 1986.

  10-3(a) Amendment No. 1 to Employment Agreement  dated
          January   1,  1986  among  John  H.  Sottile,
          Southeast Power Corporation and The Goldfield
          Corporation   is   hereby   incorporated   by
          reference to Exhibit 10-4(a) of the Company's
          report  on  Form 10-Q for the  quarter  ended
          September 30, 1988, heretofore filed with the
          Commission (file No. 1-7525).


 10-3(b)  Amendment No. 2 to Employment Agreement  dated
          January   1,  1986  among  John  H.  Sottile,
          Southeast Power Corporation and The Goldfield
          Corporation,   is   hereby  incorporated   by
          reference to Exhibit 10-4(b) of the Company's
          Annual Report on Form 10-K for the year ended
          December 31, 1991, heretofore filed with  the
          Commission (file No. 1-7525).

  10-3(c) Amendment   dated  September   11,   1995   to
          Employment  Agreement  effective  January  1,
          1986 between Southeast Power Corporation  and
          John  H.  Sottile, is hereby incorporated  by
          reference to Exhibit 10-3(c) of the Company's
          report  on  Form 10-Q for the  quarter  ended
          September 30, 1995 heretofore filed with  the
          Commission (file No. 1-7525).

  10-3(d) Amendment   dated  September   20,   1999   to
          Employment  Agreement  effective  January  1,
          1986 between Southeast Power Corporation  and
          John  H.  Sottile, is hereby incorporated  by
          reference to Exhibit 10-3(d) of the Company's
          report  on  Form 10-Q for the  quarter  ended
          September 30, 1999 heretofore filed with  the
          Commission (file No. 1-7525).

  10-4    Employee Benefit Agreement dated November  20,
          1989  between  The Goldfield Corporation  and
          John  H.  Sottile, is hereby incorporated  by
          reference  to  Exhibit 10-5 of the  Company's
          Annual Report on Form 10-K for the year ended
          December 31, 1989, heretofore filed with  the
          Commission (file No. 1-7525).

  10-5    Employee Benefit Agreement dated November  16,
          1989  between  The Goldfield Corporation  and
          Stephen R. Wherry, is hereby incorporated  by
          reference  to  Exhibit 10-6 of the  Company's
          Annual Report on Form 10-K for the year ended
          December 31, 1989, heretofore filed with  the
          Commission (file No. 1-7525).

  10-6    Stock  Purchase Agreement dated April 12, 1993
          between  Florida  Transport  Corporation  and
          Royalstar  Southwest, Inc.  relating  to  the
          sale  of  San  Pedro  Mining  Corporation  is
          hereby  incorporated by reference to  Exhibit
          10-13 of the Company's Annual Report on  Form
          10-K  for  the year ended December 31,  1993,
          heretofore  filed  with the Commission  (file
          No. 1-7525).

  10-6(a) Amendment  dated April 3, 1996  to  Promissory
          Note  dated  April 12, 1993  between  Florida
          Transport  Corporation  and  The  San   Pedro
          Mining Corporation, Royalstar Resources Ltd.,
          and    Royalstar    Southwest    is    hereby
          incorporated by reference to Exhibit  10-6(a)
          of  the Company's Annual Report on Form  10-K
          for   the  year  ended  December  31,   1996,
          heretofore  filed  with the Commission  (file
          No. 1-7525).

  10-6(b) Amendment   dated   February   18,   1997   to
          Promissory Note dated April 12, 1993  between
          Florida  Transport Corporation  and  The  San
          Pedro Mining Corporation, Royalstar Resources
          Ltd.,   and  Royalstar  Southwest  is  hereby
          incorporated by reference to Exhibit  10-6(b)
          of  the Company's Annual Report on Form  10-K
          for   the  year  ended  December  31,   1996,
          heretofore  filed  with the Commission  (file
          No. 1-7525).

  10-6(c) Amendment   dated  May   2,   1997   to
          Promissory Note dated April 12, 1993  between
          Florida  Transport Corporation  and  The  San
          Pedro Mining Corporation, Royalstar Resources
          Ltd.,   and  Royalstar  Southwest  is  hereby
          incorporated by reference to Exhibit  10-6(c)
          of  the Company's report on Form 10-Q for the
          quarter  ended  March  31,  1997,  heretofore
          filed with the Commission (file No. 1-7525).

  10-6(d) Amendment dated December 23, 1997 to the
          Modification of Secured Term Note,  Mortgage,
          Security  Agreement and Financing  Statements
          between Florida Transport Corporation and The
          San   Pedro   Mining  Corporation,  Royalstar
          Resources Ltd. and Royalstar Southwest,  Inc.
          heretofore  filed  with the Commission  (file
          No. 1-7525).

   10-7   The  Goldfield  Corporation  and  Subsidiaries
          Standardized Adoption Agreement and Prototype
          Cash  or  Deferred  Profit-Sharing  Plan  and
          Trust   Basic  Plan  Document  #3   effective
          January  1,  1995, is hereby incorporated  by
          reference  to  Exhibit 10-9 of the  Company's
          report  on  Form 10-Q for the  quarter  ended
          March  31,  1995, heretofore filed  with  the
          Commission (file No. 1-7525).

   10-8   Royalty  Agreement  dated  February  19,  1982
          between  Bow Valley Coal Resources, Inc.  and
          Northern Goldfield Investments, Ltd., Inc. is
          hereby  incorporated by reference to  Exhibit
          10-8  of the Company's Annual Report on  Form
          10-K  for  the year ended December 31,  1996,
          heretofore  filed  with the Commission  (file
          No. 1-7525).

  10-8(a) Amendment  dated February  14,  1997  to
          Royalty  Agreement  dated February  19,  1982
          between  Great  Western  Coal  Inc.  dba  New
          Horizons   Coal   Inc.  and   The   Goldfield
          Corporation   is   hereby   incorporated   by
          reference to Exhibit 10-8(a) of the Company's
          Annual Report on Form 10-K for the year ended
          December 31, 1996, heretofore filed with  the
          Commission (file No. 1-7525).

   11     For  computation  of per share  earnings,  see
          note  11  of notes to consolidated  financial
          statements.

  *21     Subsidiaries of Registrant

  *23     Consent of Independent Auditors

  *24     Powers of Attorney

  (a)     Powers of Attorney

  (b)     Certified   resolution  of  the   Registrant's
          Board  of Directors authorizing officers  and
          directors signing on behalf of the Registrant
          to sign pursuant to a power of attorney.

  *27     Financial     Data     Schedule     (submitted
          electronically for SEC information only)

 * Filed herewith.


                      SIGNATURES

Pursuant to the requirements of Section 13 or 15 (d) of
the Securities Exchange Act of 1934, the Registrant has
duly  caused this report to be signed on its behalf  by
the undersigned, thereunto duly authorized.

THE GOLDFIELD CORPORATION


By /s/    John H. Sottile
   (John H. Sottile)
   Chairman  of  the  Board  of  Directors,  President,
   Chief Executive Officer and Director

Dated:  March 15, 2000

Pursuant to the requirements of the Securities Exchange
Act  of 1934, this report has been signed below by  the
following  persons on behalf of the Registrant  and  in
the capacities indicated on March 15, 2000.


    Signature                 Title

/s/  John H. Sottile          Chairman of the Board of
(John H. Sottile)             Directors, President, Chief
                              Executive Officer and Director

/s/  Stephen R. Wherry        Vice President, Finance
(Stephen R. Wherry)           and Chief Financial
                              Officer (Principal
                              Financial Officer),
                              Treasurer and Principal
                              Accounting Officer

          *                   Director and Secretary
(Dwight W. Severs)

          *                   Director
(John P. Fazzini)

          *                   Director
(Danforth E. Leitner)

          *                   Director
(Harvey C. Eads, Jr.)


*By: /s/ John H. Sottile
John H. Sottile
Attorney-in-Fact



                SECURITIES AND EXCHANGE COMMISSION


                     Washington, D.C.  20549



                            Form 10-K



          ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D)
              OF THE SECURITIES EXCHANGE ACT OF 1934



For the Fiscal Year Ended December 31, 1999     Commission File No. 1-7525



                    THE GOLDFIELD CORPORATION



                             EXHIBITS



March 15, 2000


                         INDEX TO EXHIBITS

                                                             Sequentially
                                                               Numbered
                                                                 Pages
(b) Reports on Form 8-K

       No  reports  on Form 8-K were filed  during  the
       fourth quarter ended December 31, 1999.

 (c) Exhibits

  3-1     Restated Certificate of Incorporation  of  the
          Company,  as  amended, is hereby incorporated
          by  reference to Exhibit 3-1 of the Company's
          Annual Report on Form 10-K for the year ended
          December 31, 1987, heretofore filed with  the
          Commission (file No. 1-7525).

  3-2     By-Laws  of the Company, as amended, is hereby
          incorporated by reference to Exhibit  3-2  of
          the  Company's Annual Report on Form 10-K for
          the  year ended December 31, 1987, heretofore
          filed with the Commission (file No. 1-7525).

  4-1     Action  by  Unanimous Consent  of  Holders  of
          Preferred Stock as of September 30, 1979  per
          manently  waiving  mandatory  redemption   is
          hereby  incorporated by reference to  Exhibit
          3-5  of  the Company's Registration Statement
          on  Form  S-l, No. 2-65781, heretofore  filed
          with the Commission on November 28, 1979.

  4-2     Specimen   copy  of  Company's  Common   Stock
          certificate   is   hereby   incorporated   by
          reference  to  Exhibit 4-5 of  the  Company's
          Annual Report on Form 10-K for the year ended
          December 31, 1987, heretofore filed with  the
          Commission (file No. 1-7525).

  4-3     The Goldfield Corporation 1998 Executive Long-
          term Incentive Plan is hereby incorporated by
          reference   to   the  Company's  Registration
          Statement   on   Form  S-8,  No.   333-72241,
          heretofore  filed  with  the  Commission   on
          February 12, 1999.

  10-2    Employment  Agreement  effective  January  15,
          1985  between  The Goldfield Corporation  and
          John  H.  Sottile  is hereby incorporated  by
          reference  to  Exhibit 10-6 of the  Company's
          Registration  Statement  on  Form  S-l,   No.
          33-3866, heretofore filed with the Commission
          on March 10, 1986.

  10-2(a) Amendment  dated  February  25,  1986  to  the
          Employment Agreement included in Exhibit 10-2
          is   hereby  incorporated  by  reference   to
          Exhibit 10-6(a) of the Company's Registration
          Statement   on   Form   S-l,   No.   33-3866,
          heretofore filed with the Commission on March
          10, 1986.


 10-2(b)  Amendment   dated  September   23,   1988   to
          Employment  Agreement effective  January  15,
          1985  between  The Goldfield Corporation  and
          John  H.  Sottile  is hereby incorporated  by
          reference to Exhibit 10-2(b) to the Company's
          report  on  Form 10-Q for the  quarter  ended
          September 30, 1988, heretofore filed with the
          Commission (file No. 1-7525).

  10-2(c) Amendment   dated   February   27,   1990   to
          Employment  Agreement effective  January  15,
          1985  between  The Goldfield Corporation  and
          John  H.  Sottile, is hereby incorporated  by
          reference to Exhibit 10-2(c) of the Company's
          Annual Report on Form 10-K for the year ended
          December 31, 1989, heretofore filed with  the
          Commission (file No. 1-7525).

  10-2(d) Amendment   dated   January   29,   1992    to
          Employment  Agreement effective  January  15,
          1985  between  The Goldfield Corporation  and
          John  H.  Sottile, is hereby incorporated  by
          reference to Exhibit 10-2(d) of the Company's
          Annual Report on Form 10-K for the year ended
          December 31, 1991, heretofore filed with  the
          Commission (file No. 1-7525).

  10-2(e) Amendment   dated  September   15,   1995   to
          Employment  Agreement effective  January  15,
          1985  between  The Goldfield Corporation  and
          John  H.  Sottile, is hereby incorporated  by
          reference to Exhibit 10-2(e) of the Company's
          report  on  Form 10-Q for the  quarter  ended
          September 30, 1995, heretofore filed with the
          Commission (file No. 1-7525).

  10-2(f) Amendment   dated  September   20,   1999   to
          Employment  Agreement effective  January  15,
          1985  between  The Goldfield Corporation  and
          John  H.  Sottile, is hereby incorporated  by
          reference to Exhibit 10-2(f) of the Company's
          report  on  Form 10-Q for the  quarter  ended
          September 30, 1999, heretofore filed with the
          Commission (file No. 1-7525).

  10-3    Employment  Agreement dated  January  1,  1986
          among   John  H.  Sottile,  Southeast   Power
          Corporation and The Goldfield Corporation  is
          hereby  incorporated by reference to  Exhibit
          10-8  of the Company's Registration Statement
          on  Form  S-l, No. 33-3866, heretofore  filed
          with the Commission on March 10, 1986.

  10-3(a) Amendment No. 1 to Employment Agreement  dated
          January   1,  1986  among  John  H.  Sottile,
          Southeast Power Corporation and The Goldfield
          Corporation   is   hereby   incorporated   by
          reference to Exhibit 10-4(a) of the Company's
          report  on  Form 10-Q for the  quarter  ended
          September 30, 1988, heretofore filed with the
          Commission (file No. 1-7525).


 10-3(b)  Amendment No. 2 to Employment Agreement  dated
          January   1,  1986  among  John  H.  Sottile,
          Southeast Power Corporation and The Goldfield
          Corporation,   is   hereby  incorporated   by
          reference to Exhibit 10-4(b) of the Company's
          Annual Report on Form 10-K for the year ended
          December 31, 1991, heretofore filed with  the
          Commission (file No. 1-7525).

  10-3(c) Amendment   dated  September   11,   1995   to
          Employment  Agreement  effective  January  1,
          1986 between Southeast Power Corporation  and
          John  H.  Sottile, is hereby incorporated  by
          reference to Exhibit 10-3(c) of the Company's
          report  on  Form 10-Q for the  quarter  ended
          September 30, 1995 heretofore filed with  the
          Commission (file No. 1-7525).

  10-3(d) Amendment   dated  September   20,   1999   to
          Employment  Agreement  effective  January  1,
          1986 between Southeast Power Corporation  and
          John  H.  Sottile, is hereby incorporated  by
          reference to Exhibit 10-3(d) of the Company's
          report  on  Form 10-Q for the  quarter  ended
          September 30, 1999 heretofore filed with  the
          Commission (file No. 1-7525).

  10-4    Employee Benefit Agreement dated November  20,
          1989  between  The Goldfield Corporation  and
          John  H.  Sottile, is hereby incorporated  by
          reference  to  Exhibit 10-5 of the  Company's
          Annual Report on Form 10-K for the year ended
          December 31, 1989, heretofore filed with  the
          Commission (file No. 1-7525).

  10-5    Employee Benefit Agreement dated November  16,
          1989  between  The Goldfield Corporation  and
          Stephen R. Wherry, is hereby incorporated  by
          reference  to  Exhibit 10-6 of the  Company's
          Annual Report on Form 10-K for the year ended
          December 31, 1989, heretofore filed with  the
          Commission (file No. 1-7525).

  10-6    Stock  Purchase Agreement dated April 12, 1993
          between  Florida  Transport  Corporation  and
          Royalstar  Southwest, Inc.  relating  to  the
          sale  of  San  Pedro  Mining  Corporation  is
          hereby  incorporated by reference to  Exhibit
          10-13 of the Company's Annual Report on  Form
          10-K  for  the year ended December 31,  1993,
          heretofore  filed  with the Commission  (file
          No. 1-7525).

  10-6(a) Amendment  dated April 3, 1996  to  Promissory
          Note  dated  April 12, 1993  between  Florida
          Transport  Corporation  and  The  San   Pedro
          Mining Corporation, Royalstar Resources Ltd.,
          and    Royalstar    Southwest    is    hereby
          incorporated by reference to Exhibit  10-6(a)
          of  the Company's Annual Report on Form  10-K
          for   the  year  ended  December  31,   1996,
          heretofore  filed  with the Commission  (file
          No. 1-7525).

  10-6(b) Amendment   dated   February   18,   1997   to
          Promissory Note dated April 12, 1993  between
          Florida  Transport Corporation  and  The  San
          Pedro Mining Corporation, Royalstar Resources
          Ltd.,   and  Royalstar  Southwest  is  hereby
          incorporated by reference to Exhibit  10-6(b)
          of  the Company's Annual Report on Form  10-K
          for   the  year  ended  December  31,   1996,
          heretofore  filed  with the Commission  (file
          No. 1-7525).

  10-6(c) Amendment   dated  May   2,   1997   to
          Promissory Note dated April 12, 1993  between
          Florida  Transport Corporation  and  The  San
          Pedro Mining Corporation, Royalstar Resources
          Ltd.,   and  Royalstar  Southwest  is  hereby
          incorporated by reference to Exhibit  10-6(c)
          of  the Company's report on Form 10-Q for the
          quarter  ended  March  31,  1997,  heretofore
          filed with the Commission (file No. 1-7525).

  10-6(d) Amendment dated December 23, 1997 to the
          Modification of Secured Term Note,  Mortgage,
          Security  Agreement and Financing  Statements
          between Florida Transport Corporation and The
          San   Pedro   Mining  Corporation,  Royalstar
          Resources Ltd. and Royalstar Southwest,  Inc.
          heretofore  filed  with the Commission  (file
          No. 1-7525).

   10-7   The  Goldfield  Corporation  and  Subsidiaries
          Standardized Adoption Agreement and Prototype
          Cash  or  Deferred  Profit-Sharing  Plan  and
          Trust   Basic  Plan  Document  #3   effective
          January  1,  1995, is hereby incorporated  by
          reference  to  Exhibit 10-9 of the  Company's
          report  on  Form 10-Q for the  quarter  ended
          March  31,  1995, heretofore filed  with  the
          Commission (file No. 1-7525).

   10-8   Royalty  Agreement  dated  February  19,  1982
          between  Bow Valley Coal Resources, Inc.  and
          Northern Goldfield Investments, Ltd., Inc. is
          hereby  incorporated by reference to  Exhibit
          10-8  of the Company's Annual Report on  Form
          10-K  for  the year ended December 31,  1996,
          heretofore  filed  with the Commission  (file
          No. 1-7525).

  10-8(a) Amendment  dated February  14,  1997  to
          Royalty  Agreement  dated February  19,  1982
          between  Great  Western  Coal  Inc.  dba  New
          Horizons   Coal   Inc.  and   The   Goldfield
          Corporation   is   hereby   incorporated   by
          reference to Exhibit 10-8(a) of the Company's
          Annual Report on Form 10-K for the year ended
          December 31, 1996, heretofore filed with  the
          Commission (file No. 1-7525).

   11     For  computation  of per share  earnings,  see
          note  11  of notes to consolidated  financial
          statements.

  *21     Subsidiaries of Registrant                             41

  *23     Consent of Independent Auditors                        42

  *24     Powers of Attorney                                     43

  (a)     Powers of Attorney

  (b)     Certified   resolution  of  the   Registrant's
          Board  of Directors authorizing officers  and
          directors signing on behalf of the Registrant
          to sign pursuant to a power of attorney.

  *27     Financial     Data     Schedule     (submitted
          electronically for SEC information only)

 * Filed herewith.