4-1-59 Record copy DEL MONTE SPEECH Utah Construction Company is interested in general construction, in the mining of iron ore, coal, copper and uranium, in the development of land for industrial and residential building, and in ocean shipping, primarily as a means of transporting iron ore produced in Peru to markets in the United States, Germany and Japan. In 1958 construction stood out as one of the positiv forces in the economy. In a year of general recession construction recorded a new high in the dollar value of construction put in place, up 900 million dollars over 1957. entire increase can be attributed to the improvement in residential building which was stimulated by actions taken by the Federal government in the fall of 1957 as a counter-recession measure. Credit was eased and the rate on F.H.A. mortgages was increased to 5 1/4% and the credit rating rules were liberalized. These measures were effective with the result that the rate of new housing starts increased rapidly throughout the year and attained near record levels at year end. The remaining segments of construction showed little change in 1958 over 1957. Industrial building was down