1958

              1958
Of particular significance were the more important developments in
Utah's domestic mining operations.   The year saw the completed
construction of the uranium oxide processing mill for Lucky Mc Uranium
Corporation in which Utah had a 60% interest.   Exploration activities
in the Shirley Basin in Wyoming had progressed favorably and the
findings of our geologists indicated that Utah controlled a high grade
uranium ore zone in that area, a potential for future development.   The
outlook for the parent company's mining operations in the State of Utah
was further enhanced by the consummation of a long-term iron ore
sales contract with the Columbia-Geneva Division of the U. S. Steel
Corporation.
Also of importance, in a related field, was the launching of a new
combination ore-oil cargo ship, the San Juan Merchant, under the flag
of San Juan Carriers, Ltd., an affiliated company.
On the less favorable side, in certain phases of activity the operating
results had been unsatisfactory, some slowness had been noted in
Land Development sales and dredging programs, the company had
sustained losses attendant to an abnormal backlog of idle construction
equipment, and unfavorable results had continued in certain of the
St. Lawrence Seaway joint venture projects.   In Mexico and Australia
also, the results of operations had been disappointing.
Engineering
Continuing growth in the magnitude of construction projects during the
last three decades and the company's program of diversification in its
ownership activities, made expansion of engineering activities desirable,
with the objective of providing a completely integrated service and also
a means of securing profits the company might not otherwise enjoy.   Utah
thus endeavored to build up its engineering organization to the point where
it included oustanding talent in four fields of engineering:  investigation,
design, management and construction.   Following are some projects in
process or completed by Utah in 1958.