SPEECH BEFORE THE NEW YORK SOCIETY OF SECURITY ANALYSTS, INC. AUGUST 25, 1960 BY E. W. LITTLEFIELD, EXECUTIVE VICE PRESIDENT & GENERAL MANAGER OF UTAH CONSTRUCTION & MINING CO. MR. CHAIRMAN AND MEMBERS OF THE SECURITY ANALYSTS: It is easy to account for my presence here today, for any company representative fortunate enough to be invited here would welcome, as I do, the privilege of appearing before you. Certainly I am grateful to you for giving me the opportunity to tell you something about the affairs of Utah Construction & Mining Co. As to the reason for the compliment of your presence here, I can only guess. I must assume that you were willing to risk the price of a luncheon in the conscientious pursuit of your profession which demands that you keep fully informed of the newer merchandise available in the market so that you may more intelligently guide your clients in their investment selections. The irresistible combination of business success, death, and inheritance taxes has made our stock increasingly available to the investing public, and I shall try to put forth some of the salient facts that may be of interest to you in appraising our company's future. Our company today stands in sharp contrast to what it was in 1949 when the headquarters' staff of 41 was comfortably housed in the Crocker Bank Building, serving some 150 reasonably satisfied stockholders, making a little better than $1,000,000 a year almost entirely out of the heavy construction business which had been the prime source of our livelihood for the preceding 50 years. Every one of our 8 private offices was still equipped with a spittoon which the old-timers could hit with reasonable accuracy. We had no private secretaries, published no annual reports, had, no inquiries from brokers or investment bankers, less term debt than working capital, and few problems in 026.jpg