Dividends were increased for the 19th consecutive year. The stock was split three for one, listed on the New York Stock Exchange, and performed well in a shoddy market. 1969 also witnessed the largest addition to our mineral sales backlog ever recorded in a single year. We added $740 million to the backlog, bringing the total figure at year-end to $1, 840 million, compared to only $131 million 10 years earlier. These figures do not include any part of the backlog of either Marcona or Pima. 80% of Utah's backlog is represented by long-term contracts containing cost escalation protection. The increase in the backlog resulted from our decision to bring two new mines into operation. In January 1969 the company entered into a 13-year contract calling for the delivery of 50. 5 million long tons of coking coal from the Goonyella deposits in Central Queensland starting at 2 1/2 million tons in the first year and increasing to 4 million tons thereafter. Utah's 85% share of the estimated revenues from this contract added over $500 million to the backlog and will require an investment on our part of approximately $95 million. The second new large mine was the Island Copper project on Vancouver Island in British Columbia where Utah plans to install a 33, 000 ton per day mill and develop an open pit copper mine requiring an investment of approximately $59 million. Included in the total backlog is 60% of the planned production of copper concentrates represented by a 10-year contract with Mitsui Mining and Smelting Company, which was -5-