largely as a builder of railroads - most notably the Western Pacific from Oroville, California to Salt Lake City. Through 1919 it had earned over $9.1 million, paid $3.1 million in cash dividends, and $2.1 million in stock dividends. It had acquired vast farm lands and ranches. It had been a very good investment. In 1919 alone it earned $1.6 million but, alas, this was a record not to be seriously challenged for the next 27 years. By 1920 the railroads were largely built and the company was forced to turn its efforts to other pursuits. While it rarely lost money, its financial results were something less than spectacular from 1919 until 1946 or even later. During these years it doggedly pursued heavy engineering construction as its main activity and the name of The Utah Construction Company alone or in joint venture was associated with many of the landmark construction activities that characterize the western landscape great dams like Hoover, Grand Coulee, Davis and Bonneville; the Columbia Geneva steel plant at Provo, Utah; the Alcan Highway; vast earth moving projects here and abroad; miles of tunnels; large industrial plants; and even the San Francisco Bay Bridge. It also included sizeable profits from the war years when the company was a participant in shipbuilding, marine engines, Pacific military bases, even providing magnesium for incendiary bombs. All this produced a profit averaging a paltry $321,000 yearly, and this included the ranching operations. So discouraged were the shareholders with the prospects for the 2