Record copy SPEECH BEFORE THE SECURITY ANALYSTS OF SAN FRANCISCO AUGUST 18, 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 he 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. I can even account for Mr. Knecht's presence, for he extended on your behalf the invitation to me. Forgive him, for his hand was forced. His boss had arranged a similar invitation for me to speak in New York a week hence. So that San Francisco could be first, Gus has for the first time in 28 years of friendship reluctantly placed himself in a position where he has to listen to me. It is indeed appropriate that San Francisco should be the site of our company's first appearance before a group of Security Analysts, for this is our headquarters and we have maintained an office here continually since 1906 when our then relatively new company was given the task of building the Western Pacific Railroad from Oroville to Salt Lake City. Part of the rent has been paid from our participation in the construction of facilities that serve the city well the railroad network, the Bay Bridge, the Hetch Hetchy water system, Union Square and Civic Center Garages, and some work for the P. G. & E. that cost us more than it cost them. The majority of our permanent employees live in this vicinity, we borrow most of our money from San Francisco banks, and have evidenced our faith in the future growth of the Bay Area by concentrating