<table>
			PART I.   FINANCIAL INFORMATION
Item 1.  Financial Statements
			       THE GOLDFIELD CORPORATION
                                   and Subsidiaries
<caption>                            (unaudited)
                              CONSOLIDATED BALANCE SHEETS

       	                                         June 30,             December 31,

				                    2001	         2000
ASSETS
Current assets			                <c>		      <c>
  Cash and cash equivalents	                $5,797,945             $3,181,948
  Accounts receivable and accrued billings	 2,982,638              2,608,808
  Insurance proceeds receivable                         --	        2,000,000
  Current portion of notes receivable               39,414                 42,531
  Inventories 			                   372,386 	          365,308
  Costs and estimated earnings in excess of
    billings on uncompleted contracts              191,076                981,514
  Recoverable income taxes		            21,743	           55,999
  Deferred income taxes (Note 2)		   187,000	          164,000
  Prepaid expenses and other current assets	   514,285	          749,886
    Total current assets		        10,106,487             10,149,994
Property, buildings and equipment, net           6,313,415              6,201,675
Notes receivable, less current portion	           312,232 	          225,680
Deferred charges and other assets
  Deferred income taxes (Note 2)	         1,976,000 	        2,211,000
  Land and land development costs                1,315,775                870,128
  Land held for sale		                   458,971 	          250,135
  Cash surrender value of life insurance	   302,579 	          320,343
  Other assets	                                    53,214                     --
    Total deferred charges and other assets	 4,106,539 	        3,651,606
Total assets				       $20,838,673            $20,228,955
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
  Accounts payable and accrued liabilities     $ 1,500,028            $ 1,768,495
  Billings in excess of costs and estimated
    earnings on uncompleted contracts	           287,886 	           93,906
  Current portion of deferred gain on
    installment sales                                9,774                 11,652
  Income taxes payable (Note 2)		            40,402 	               --
    Total current liabilities		         1,838,090 	        1,874,053

Deferred gain on installment sales,
  less current portion                              38,031 	           44,096
Total liabilities			         1,876,121 	        1,918,149
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 3)	                          	   339,407                339,407
  Common stock, $.10 par value per share,
    40,000,000 shares authorized; issued and
    outstanding 27,441,771 shares in 2001 and	 2,744,177 	        2,687,211
    26,872,106 in 2000
  Capital surplus 			        18,437,508 	       18,369,860
  Accumulated deficit			        (2,539,820)	       (3,066,952)
    Total				        18,981,272 	       18,329,526
  Less common stock in treasury, 17,358
    shares, at cost			            18,720 	           18,720
    Total stockholders' equity		        18,962,552 	       18,310,806
Total liabilities and stockholders' equity     $20,838,673            $20,228,955

</table>

See accompanying notes to consolidated financial statements

<table>
                                THE GOLDFIELD CORPORATION
                                   and  Subsidiaries
                          CONSOLIDATED STATEMENTS OF OPERATIONS

					(Unaudited)
<caption>
			                Three Months Ended	  Six Months Ended
			                     June 30,		      June 30,
                                      2001	    2000          2001	     2000


Revenue		                 <c>	      <c>          <c>          <c>
  Electrical construction        $4,618,111   $7,610,743   $11,069,107  $11,806,164
  Mining		            428,883      793,614       973,769    1,517,515
  Other income, net	            246,139 	 106,788       429,994      247,128
    Total revenue	          5,293,133    8,511,145    12,472,870   13,570,807

Costs and expenses
  Electrical construction         3,946,763    6,181,511     8,508,397    9,684,962
  Mining		            416,064      692,868       929,961    1,250,429
  Depreciation and amortization     383,660	 297,201       757,580      581,798
  Impairment recovery	                 --	 (30,418)           --      (30,418)
  General and administrative        833,165 	 947,839     1,417,868    1,364,290
  Interest expense		     11,533	   3,360        28,053        3,360
    Total costs and expenses      5,591,185    8,092,361    11,641,859   12,854,421

(Loss) income from operations
  before income taxes	           (298,052)	 418,784       831,011      716,386

Income taxes (benefit) (Note 2)	    (90,324)	(663,391)      292,000     (661,844)

(Loss) net income	           (207,728)   1,082,175       539,011    1,378,230

Preferred stock dividends             5,940        5,940        11,879       11,879

(Loss) income available to
   common stockholders           $ (213,668) $ 1,076,235    $  527,132  $ 1,366,351

Basic and diluted (loss) earnings per
  share of common stock (Note 4) $    (0.01) $      0.04    $     0.02  $      0.05

Weighted average common shares and
  equivalents used in the calculations of
  (loss) earnings per share
     Basic	                  27,424,413  26,854,748    27,159,563  26,854,748
     Diluted	                  27,424,413  27,911,275    27,806,579  27,909,179
</table>
See accompanying notes to consolidated financial statements

<table>
                               THE GOLDFIELD CORPORATION							and Subsidiaries					<caption>
                         CONSOLIDATED STATEMENTS OF CASH FLOWS
                                     (Unaudited)

<caption>			            Three Months Ended    Six Months Ended
		                                June 30,	       June 30,

		                           2001  	2000	     2001       2000
Cash flows from operating activities  <c>	   <c>          <c>        <c>
  Net (loss) income		      $(207,728) $1,082,175    $539,011  $1,378,230
Adjustments to reconcile net (loss) income to net
  cash used in operating activities
    Depreciation and amortization       383,660     297,201     757,580     581,798
    Deferred income taxes	       (106,000)   (722,000)    212,000    (722,000)
    Gain on sale of property and
      equipment	                         (7,000)    (38,150)    (23,010)    (80,271)
    Gain on disposition of land held
      for sale	                       (167,084)     (2,924)   (262,607)    (33,342)
    Other assets		        (53,214)    (93,500)    (53,214)    (93,500)
    Cash provided from (used by) changes in
      Accounts receivable and
        accrued billings	       (474,042)   (563,131)   (373,830)   (867,700)
      Inventories                        (1,534)     57,277      (7,078)     28,349
      Costs and estimated earnings in excess
        of billings on uncompleted
        contracts	              1,440,083    (455,294)    790,438  (1,801,726)
      Recoverable income taxes	         (5,000)     (5,175)     34,256     (16,175)
      Prepaid expenses and other
        current assets	                (15,181)    (62,129)    235,601    (147,610)
      Accounts payable and accrued
        liabilities	                221,060   1,418,512    (268,467)  1,270,810
      Billings in excess of costs and
        estimated earnings on uncompleted
        contracts	                188,717      62,285     193,980      36,072
      Income taxes payable               20,677      18,218      40,402     (53,421)
        Net cash provided by (used in)
          operating activities        1,217,414     993,365  1 ,815,062    (520,486)

Cash flows from investing activities
  Proceeds from the disposal of
    property and equipment               17,991      38,150      37,491     127,700
  Expenditures for land and
    land development costs	        (15,856)         --    (445,647)         --
  Proceeds from notes receivable         21,301      11,697      44,525      32,934
  Purchases of property and equipment   (47,249)   (710,324)   (883,801) (2,153,604)
  Purchase of land held for sale        (35,497)         --    (328,355)         --
  Proceeds from sale of land
    held for sale		        219,235          --     246,223      45,324
  Life insurance proceeds	             --          --   2,000,000          --
  Cash surrender value of life
    insurance		                 11,533      498,311     17,764     498,311
      Net cash provided by (used in)
        investing activities            171,458     (162,166)   688,200  (1,449,335)

Cash flows from financing activities
  Proceeds from the exercise of
    stock options	                     --	          --    124,614         --
  Payments of preferred stock
    dividends		                 (5,940)      (5,940)   (11,879)    (11,879)
  Net cash provided by (used in)
    financing activities	         (5,940)      (5,940)   112,735     (11,879)

Net increase (decrease) in cash
  and cash equivalents                1,382,932      825,259  2,615,997  (1,981,700)
Cash and cash equivalents at
  beginning of period	              4,415,013    2,912,204  3,181,948   5,719,163
Cash and cash equivalents at
  end of period	                     $5,797,945   $3,737,463 $5,797,945  $3,737,463

Supplemental disclosure of cash flow information:
  Interest paid	                             --           -- $   10,289          --
  Income taxes paid		             --   $   45,565 $    5,342  $  129,752

Supplemental disclosure of non-cash investing activities:					    Notes receivable in partial payment for
        land held for sale	     $   34,660   $   13,500 $  127,960  $  178,726

</table>
See accompanying notes to consolidated financial statements

                           THE GOLDFIELD CORPORATION
                               and Subsidiaries

                  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 June 30, 2001



Note 1 - Basis of Presentation

In the opinion of management, the accompanying unaudited
interim consolidated financial statements include all
adjustments necessary to present fairly the financial
position of the Company, the results of its operations
and changes in cash flows for the interim periods reported.
These adjustments are of a normal recurring nature.
All financial statements presented herein are unaudited.
However, the balance sheet as of December 31, 2000, was
derived from the audited consolidated balance sheet.
These statements should be read in conjunction with
the financial statements included in the Company's annual
report on Form 10-K for the year ended December 31, 2000.
The results of operations for the interim periods shown in
this report are not necessarily indicative of results to
be expected for the fiscal year.

Note 2 - Income Taxes

The income tax provisions (benefits) consisted of the following:

<table>
	                   Three Months Ended         Six Months Ended
	                       June 30,                   June 30,
<caption>
	                     2001        2000           2001         2000


Current                  <c>             <c>            <c>          <c>
  Federal                 $  (5,000)     $     --       $  9,000     $     --
  State                      20,676        58,609         71,000        60,156
                             15,676        58,609         80,000        60,156
Deferred
  Federal                   (98,000)     (608,000)       171,000      (608,000)
  State                     ( 8,000)     (114,000)        41,000      (114,000)
                           (106,000)     (722,000)       212,000      (722,000)
Total                      $(90,324)    $(663,391)      $292,000     $(661,844)
</table>

The effective income tax rates were 35% and (92)% for
the six months ended June 30, 2001 and 2000, respectively.
The effective income tax rate for the six months ended
June 30, 2000 was lower than expected primarily due to
the decrease in the valuation allowance for deferred tax
assets. The effective income tax rates were (30)% and
(158)% for the three months ended June 30, 2001 and 2000,
respectively.  The effective income tax rate for the three
months ended June 30, 2000 was lower than expected
primarily due to the decrease in the valuation allowance
for deferred tax assets.

The valuation allowance was previously established
as a reserve against deferred tax assets based on
managements assessment of the future realization of
those deferred tax assets.  For the six months ended
June 30, 2001 and 2000, the Company decreased the valuation
allowance for deferred tax assets by $128,000 and
$1,274,000, respectively. For the three months ended
June 30, 2000, the Company decreased the valuation
allowance by $1,130,000. The valuation allowance was
unchanged for the three months ended June 30, 2001.
At June 30, 2001, the Company had tax net operating loss
carryforwards of approximately $3,900,000 available to
offset future regular taxable income, which, if unused,
will expire from 2001 through 2018.

Note 3 - Preferred Stock

All 339,407 shares of the Company's Series A 7% Voting
Cumulative Convertible Preferred Stock
("Series A Preferred Stock") were redeemed on
July 20, 2001 at a redemption price of $1.00 per share.

Note 4 - Basic and Diluted (Loss) Earnings Per Share of
Common Stock

Basic (loss) earnings per common share, after deducting
dividend requirements on the Company's Series A
Preferred Stock of $11,879 in each of the six month
periods ended June 30, 2001 and 2001, and $5,940 for
each of the three month periods ended June 30, 2001
and 2000, were based on the weighted average number
of shares of Common Stock outstanding, excluding 17,358
shares of Treasury Stock for each of the periods ended
June 30, 2001 and 2000.  Common shares issuable on
conversion of Series A Stock are not considered in the
diluted earnings per share calculation because their
inclusion would be anti-dilutive.

Note 5 - Business Segment Information

The Company is mainly involved in two business segments,
mining and electrical construction.  There were no
material amounts of sales or transfers between segments
and no material amounts of export sales.

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

<table>
			                     Three Months Ended
		                                   June 30,
<caption>

                                            2001               2000
Sales from operations to
unaffiliated customers                     <c>               <c>
  Electrical construction                  $ 4,618,111       $  7,610,743
  Mining                                       428,883            793,614
Total                                        5,046,994       $  8,404,357

Gross profit
  Electrical construction                  $   369,225       $  1,216,434
  Mining                                       (49,518)            64,822
Total gross profit                             319,707          1,281,256

Interest and other income, net                 246,139            106,788
Interest expense                               (11,533)            (3,360)
General corporate expenses                    (852,365)          (965,900)
Income from operations before
  income taxes                             $  (298,052)      $    418,784
</table>

<table>
                                                Six Months Ended
                                                    June 30,
<caption>

			                      2001                 2000
Sales from operations to
  unaffiliated customers                  <c>                <c>
    Electrical construction               $11,069,107        $ 11,806,164
    Mining                                    973,769           1,517,515
Total                                     $12,042,876        $ 13,323,679

Gross profit
  Electrical construction                 $ 1,965,799        $  1,705,971
  Mining                                      (80,461)            166,998
Total gross profit                          1,885,338           1,872,969
Interest and other
  income, net                                 429,994             247,128
Interest expense                              (28,053)             (3,360)
General corporate expenses                 (1,456,268)         (1,400,351)

Income from operations before
  income taxes                            $   831,011        $    716,386
</table>

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

The following table sets forth certain segment
information as of the dates indicated:

<table>
                                             June 30,          December 31,
<caption>

		                              2001                 2000
Identifiable assets                       <c>                <c>
  Electrical construction                 $10,946,887        $10,995,872
  Mining                                    2,999,726          2,731,748
  Corporate                                 6,892,060          6,501,335
Total                                     $20,838,673        $20,228,955
</table>

Note 6 - New Accounting Pronouncements

In June 2001, the Financial Accounting Standard
Board ("FASB") issued Financial Accounting
Standards ("SFAS") No. 141 "Business Combinations."
This Statement addresses financial accounting and
reporting for business combinations and
supercedes Accounting Principals Board ("APB")
Opinion No. 16.  Business Combinations, and FASB
Statement No. 38, Accounting for Preaquisition
Contingencies of Purchased Enterprises.  All business
combinations in the scope of this Statement are to be
accounted for using one method, the purchase method.
The provisions of this Statement apply to all business
combinations accounted for using the purchase method
for which the date of acquisition is July 1, 2001
or later.  Adoption of this Statement is not expected
to have a significant impact on the financial position
or results of operations of the Company.

In June 2001, FASB issued SFAS No. 142 "Goodwill and
Other Intangible Assets".  This Statement addresses
financial accounting and reporting for acquired
goodwill and other intangible assets and supercedes
APB Opinion No. 17, Intangible Assets.  It addresses
how intangible assets that are acquired individually
or with a group of other assets (but not those acquired
in a business combination) should be accounted for in
financial statements upon their acquisition.  This
Statement also addresses how goodwill and other
intangible assets should be accounted for after they
have been initially recognized in the financial
statements.  Adoption of this Statement is not
expected to have a significant impact on the financial
portion or results of the operations of the Company.

Forward-Looking Statements

We make "forward looking statements" within the
"safe harbor" provision of the Private Securities
Litigation Reform Act of 1995 throughout this document
and in any documents we may incorporate by reference into
this Quarterly Report on Form 10-Q.  You can identify these
statements by forward-looking words such as "may," "will,"
"expect," "anticipate," "believe," "estimate," "plan," and
"continue" or similar words.  We have based these statements
on our current expectations about future events.  Although
we believe that our expectations reflected in or suggested
by our forward-looking statements are reasonable, we cannot
assure you that these expectations will be achieved.  Our
actual results may differ materially from what we currently
expect.  Factors that may effect our results include, among
others: the level of construction activities by public
utilities; the timing and duration of construction projects
for which we are engaged; our ability to estimate accurately
with respect to fixed price construction contracts;
heightened competition in the electric construction field,
including intensification of price competition; the
availability of skilled construction labor; and, in
connection with our real estate projects, general economic
conditions, both nationally and in our region.  Important
factors which could cause our actual results to differ
materially from the forward-looking statements in this
document are also set forth in the Management's Discussion
and Analysis of Financial Condition and Results of
Operations section and elsewhere in this document.

You should read this Quarterly Report on Form 10-Q completely
and with the understanding that our actual future results
may be materially different from what we expect.  We may
not update these forward-looking statements, even in the
event that our situation changes in the future.  All
forward-looking statements attributable to us are
expressly qualified by these cautionary statements.

Item 2.	Management's Discussion and Analysis of Financial
Condition and Results of Operations.

Results of Operations - Six Months Ended June 30, 2001
Compared to Six Months Ended June 30, 2000.

Net Income
The Company had net income before income taxes of $831,011
for the six months ended June 30, 2001, compared to net income
before income taxes of $716,386 for the six months ended
June 30, 2000.  The Company had net income of $539,011 for
the six months ended June 30, 2001, compared to net income
of $1,378,230 for the six months ended June 30, 2000.  The
decrease in net income after income taxes was primarily due
to the change in the income tax expense (benefit) between 2001
and 2000.  The income tax expense for the six months ended
June 30, 2001 was $292,000 compared to an income tax benefit
of $661,844 for the six months ended June 30, 2000.  The income
tax benefit for the 2000 period was largely a result of a decrease
in the valuation allowance for deferred tax assets.

Revenues
Total revenues for the six months ended June 30, 2001 were
$12,472,870, compared to $13,570,807 for the six months
ended June 30, 2000.  This decrease was attributable to lower
revenues in both the electrical construction and mining operations.

Electrical construction revenue decreased by 6% in the six months
ended June 30, 2001 to $11,069,107 from $11,806,164 for the
six months ended June 30, 2000.  Decreases in fiber optic
construction were not offset by increases in transmission line
construction.

Revenue from mining operations decreased 36% to $973,769
for the six months ended June 30, 2001 from $1,517,515 for
the six months ended June 30, 2000.  This decrease was mostly
attributable to a decrease in various land reclamation and
construction aggregate projects.

Operating Results
Electrical construction operations had an operating profit of
$1,965,799 in the six months ended June 30, 2001, compared
to an operating profit of $1,705,971 during the six months
ended June 30, 2000.  Operating profit was higher for the
six months ended June 30, 2001 due primarily to increased
margins.  The varying magnitude and duration of electrical
construction projects may result in substantial fluctuation in the
Company's backlog from time to time.  At June 30, 2001, the
approximate value of uncompleted contracts was $15,000,000,
compared to $7,200,000 at June 30, 2000.

During the six months ended June 30, 2001, the operating results
from mining operations decreased to an operating loss of $80,461
from an operating profit of $166,998 during the six months ended
June 30, 2000.  This decrease in operating results in 2001 was
mainly due to a single construction aggregate project that was
completed during the second quarter of 2000.  The operating
results from mining included depreciation expense of $124,270
during the six months ended June 30, 2001, compared to
$130,505 during the six months ended June 30, 2000.

St. Cloud Mining Company, a wholly owed subsidiary of the
Company ("St. Cloud"), sold 8,448 tons of natural zeolite
during the six months ended June 30, 2001, compared to 8,987
tons during the six months ended June 30, 2000.

Other Income
Other income for the six months ended June 30, 2001 was
$429,994, compared to $247,128 in the six months ended
June 30, 2000.  The increase in other income for 2001 was
largely a result of income earned on sales of portions of
the surplus real estate acquired by the Company's mining
operations in New Mexico during the first quarter of 2001.

Costs and Expenses
Total costs and expenses, and the components thereof,
decreased to $11,641,859 for the six months ended
June 30, 2001 from $12,854,421 for the six months
ended June 30, 2000, primarily as a result of decreased
electrical construction costs.

Electrical construction costs were $8,508,397 and
$9,684,962 in the six months ended June 30, 2001 and
2000, respectively. The decrease in costs for the 2001
period was mostly attributable to a decrease in subcontract
costs.

Mining costs were $929,961 for the six months ended
June 30, 2001, compared to $1,250,429 in the six months
ended June 30, 2000.  This decrease was mainly attributable
to a decrease in construction projects.

Depreciation and amortization was $757,580 in the six
months ended June 30, 2001, compared to $581,798 in
the six months ended June 30, 2000.  The increase in
depreciation and amortization for 2001 was largely a result
of recent capital expenditures, most of which have occurred
in the company's electrical construction segment.

General corporate expenses of the Company increased
slightly to $1,456,268 in the six months ended June 30,
2001, from $1,400,351 in the six months ended June 30,
2000.  General corporate expenses for the six months ended
June 30, 2001 included approximately $450,000 of
additional expenses related to the proxy solicitation battle in
connection with the Company's 2001 annual meeting. During
the six months ended June 30, 2000, general corporate
expenses included a $425,311 net expense related to
payments made under Cancellation and Release Agreements
pursuant to which the Company's Employee Benefit
Agreements were terminated.

Results of Operations - Three Months Ended June 30, 2001
Compared to Three Months Ended June 30, 2000.

Net (Loss) Income
The Company incurred a net loss before income taxes of
$298,052 for the three months ended June 30, 2001,
compared to net income before income taxes of $418,784
for the three months ended June 30, 2000.  The Company
incurred a net loss of $207,728 for the three months ended
June 30, 2001, compared to net income of $1,082,175 for
the three months ended June 30, 2000.  The decrease in
net income after income taxes was primarily due to the
change in the income tax benefit between 2001 and 2000.
The income tax benefit for the three months ended June 30,
2001 was $90,324 compared to an income tax benefit of
$663,391 for the three months ended June 30, 2000.
The income tax benefit for the 2000 period was largely a result
of a decrease in the valuation allowance for deferred tax assets.

Revenues
Total revenues for the three months ended June 30, 2001 were
$5,293,133, compared to $8,511,145 for the three months
ended June 30, 2000.  This decrease was mostly attributable
to lower electrical construction revenue.

Electrical construction revenue decreased by 39% in the three
months ended June 30, 2001 to $4,618,111 from $7,610,743
for the three months ended June 30, 2000.  This decrease
was largely attributable to a decrease in transmission line and
fiber optic construction.

Revenue from mining operations decreased by 45% to $428,883
for the three months ended June 30, 2001 from $793,614 for
the three months ended June 30, 2000. This decrease in 2001
was mainly due to a single construction aggregate project that
was completed during the second quarter of 2000.

Operating Results
Electrical construction operations had an operating profit of
$369,225 in the three months ended June 30, 2001, compared
to an operating profit of $1,216,434 during the three months
ended June 30, 2000.  Operating profit was lower for the
three months ended June 30, 2001 as compared to the three
months ending June 30, 2000 mainly due to decreased
transmission line construction.

During the three months ended June 30, 2001, the operating
loss from mining operations was $49,518 compared to an
operating profit of $64,822 during the three months ended
June 30, 2000.  This decrease in operating results in 2001
was mostly due to a single construction aggregate project
that was completed during the second quarter of 2000.
The operating results from mining included depreciation
expense of $62,338 during the three months ended June
30, 2001, compared to $66,341 during the three months
ended June 30, 2000.

St. Cloud sold 4,047 tons of natural zeolite during the three
months ended June 30, 2001, compared to 4,786 tons
during the three months ended June 30, 2000.

Other Income
Other income for the three months ended June 30, 2001
was $246,139, compared to $106,788 in the three months
ended June 30, 2000.  The increase in other income for
2001 was largely a result of income earned on sales
of portions of the surplus real estate acquired by the
Company's mining operations in New Mexico during the
first quarter of 2001.

Costs and Expenses
Total costs and expenses, and the components thereof,
decreased to $5,591,185 for the three months ended
June 30, 2001 from $8,092,361 for the three months
ended June 30, 2000, primarily as a result of the decreased
electrical construction costs.

Electrical construction costs were $3,946,763 and $6,181,511
in the three months ended June 30, 2001 and 2000, respectively.
The decrease in costs in 2001 was mostly attributable to a
decrease in subcontract costs.

Mining costs decreased to $416,064 for the three months ended
June 30, 2001, compared to $692,868 in the three months ended
June 30, 2000, mainly as a result of a decrease in construction
projects.

Depreciation and amortization was $383,660 in the three months
ended June 30, 2001, compared to $297,201 in the three months
ended June 30, 2000.  The increase in depreciation and
amortization expenses for 2001 was primarily a result of
recent capital expenditures, most of which have occurred in the
company's electrical construction segment.

General corporate expenses of the Company decreased to
$852,365 in the three months ended June 30, 2001, from
$965,900 in the three months ended June 30, 2000.  General
corporate expenses for the three months ended June 30, 2001
included approximately $355,000 of additional expenses
related to the previously mentioned proxy solicitation battle,
in addition to approximately $95,000 of such expenses incurred
in the first quarter of 2001. During the three months ended
June 30, 2000, general corporate expenses included a
$425,311 net expense related to cancellation of the
Company's Employee Benefit Agreements as previously
mentioned.


            Liquidity and Capital Resources

Cash and cash equivalents at June 30, 2001 were $5,797,945
as compared to $3,181,948 as of December 31, 2000.  The
increase in cash was mostly the result of $2,000,000 of life
insurance proceeds received from a key-man life insurance
policy during the first quarter of 2001.  Working capital at
June 30, 2001 was $8,268,397 compared to $8,275,941 at
December 31, 2000.  The Company's ratio of current assets
to current liabilities was 5.5% at June 30, 2001, compared to
5.4% at  December 31, 2000.

During March 2001, the Company received proceeds of
$124,614 from the exercise of 569,665 stock options by
certain executive officers and other key employees of the
Company. The options were exercisable at $0.21875 per
share, the fair market value of the Common Stock at the
date of the grant.

The Company does not enter into financial instruments for
trading purposes.  Financial instruments entered into for
other than trading purposes 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 $11,879 in each of the six months
ended June 30, 2001 and 2000.  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.

On June 19, 2001, the Board of Directors of the Company,
in accordance with the Restated Certificate of Incorporation,
voted to redeem its Series A Preferred Stock. All 339,407
shares of Series A Preferred Stock were redeemed on July
20, 2001 for $1 per share, or $339,407.

Pursuant to an unsecured line of credit agreement between
the Company and SunTrust Bank of Central Florida, N.A.
("SunTrust") (guaranteed by the Company's subsidiary,
Southeast Power Corporation), the Company may borrow
up to $3,000,000 at the bank's prime rate of interest.  This
credit line expires April 30, 2002, at which time the
Company expects to renew it for an additional year.  One
hundred thousand dollars of this line of credit has been
reserved for a standby letter of credit.  Currently, there are
no borrowings outstanding under this new line of credit.

The Company's capital expenditures for the six months
ended June 30, 2001 decreased to $883,801 from
$2,153,604 for the six months ended June 30, 2000.
This decrease in the level of capital expenditures was
attributable to decreased expenditures at the Company's
electrical construction segment.

In addition, the Company has expanded its real estate
operations to include development of small, high-end
condominium projects.  To date, the Company has
purchased three waterfront sites for development near
Cocoa Beach, Florida.  The plans contemplate one
twelve unit and one six unit project.  The plans for the
third site have not yet been finalized.  As of June 30,
2001, the Company had expended $1,315,775 in land
acquisition and development costs on these three sites
(two oceanfront and one riverfront).  Project acquisition,
development and construction is expected to take
approximately two years per project.  The Company does
not intend to proceed with the development of a project
unless it has sales contracts sufficient to cover most of that
project's projected costs.  During July 2001, the
Company entered into a construction contract and
commenced construction on the first condominium project.
Construction financing was secured through conventional
real estate project financing subsequent to June 30, 2001.
The project is expected to  be completed in approximately
ten months.

New Accounting Pronouncements

In June 2001, the Financial Accounting Standard Board
("FASB") issued Financial Accounting Standards ("SFAS")
No. 141 "Business Combinations."  This Statement addresses
financial accounting and reporting for business combinations
and supercedes Accounting Principals Board ("APB")
Opinion No. 16.  Business Combinations, and FASB
Statement No. 38, Accounting for Preaquisition Contingencies
of Purchased Enterprises.  All business combinations in the
scope of this Statement are to be accounted for using one
method, the purchase method.  The provisions of this Statement
apply to all business combinations accounted for using the
purchase method for which the date of acquisition is July 1,
2001 or later.  Adoption of this Statement is not expected to
have a significant impact on the financial position or results of
operations of the Company.

In June 2001, FASB issued SFAS No. 142 "Goodwill and
Other Intangible Assets".  This Statement addresses financial
accounting and reporting for acquired goodwill and other
intangible assets and supercedes APB Opinion No. 17, Intangible
Assets.  It addresses how intangible assets that are acquired
individually or with a group of other assets (but not those
acquired in a business combination) should be accounted for
in financial statements upon their acquisition.  This Statement
also addresses how goodwill and other intangible assets should
be accounted for after they have been initially recognized in the
financial statements.  Adoption of this Statement is not expected
to have a significant impact on the financial portion or results of
the operations of the Company.

Item 3.	Quantitative and Qualitative Disclosures About Market
Risk

There were no material changes in the information provided in the
Company's December 31, 2000 consolidated financial statements.


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

(a) The Annual Meeting of Stockholders was held on June 19, 2001.

(c) At the Annual Meeting of Stockholders, the stockholders
voted to elect the following 6 directors to the board of directors.
 Set forth below are the votes cast in the election of directors:

<table>

<caption>
                                                    For

                                             <c>
Harvey C. Eads, Jr.		                21,298,974
John P. Fazzini		                        21,303,284
Danforth E. Leitner		                21,493,407
Al Marino			                21,658,482
Dwight W. Severs		                21,297,972
John H. Sottile		                        21,643,201
</table>

In addition, the following three persons solicited votes in an
unsuccessful effort to be elected to the board of directors.
Set forth below are the votes cast in the election of directors
for these individuals:

<table>
<caption>			                      For

                                          <c>
Aaron Brown		                            250
Deborah Pastor		                            250
Sam Rebotsky		                     10,388,250
</table>

The Stockholders also voted upon the proposal to amend the
Company's Restated Certificate of Incorporation to eliminate
cumulative voting in the election of directors.  The affirmative
vote of a majority of outstanding shares of the Company's
Common Stock and Series A Preferred Stock voting together
was required to approve such amendment.  Although the vast
majority of votes cast favored the adoption of such amendment,
it failed to receive the required absolute majority of all
outstanding shares.  The results of the votes cast for this
proposal are as follows:

<table>
<caption>
		                           Shares Voted

                                      <c>
For	     		                 12,006,271
Against			 	          3,433,170
Abstain			   	            294,023

</table>

The Stockholders also voted to approve the appointment
of KPMG LLP as Independent Certified Public Accountants.
Votes cast in favor were 23,230,515, against were 991,710
and withheld were 142,682.

PART II.  OTHER INFORMATION

Item 6.	Exhibits and Reports on Form 8-K

(b)	Reports on Form 8-K

No Current Report on Form 8-K was filed during the quarter
ended June 30, 2001.

                       SIGNATURES


Pursuant to the requirements 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
	                    (Registrant)


Date:  August 14, 2001	 /s/ Stephen R. Wherry
		        (Stephen R. Wherry)
	                Vice President, Treasurer and
	                Chief Financial Officer