OCR

Plant changes at the Geneva Plant in Utah for the Geneva Steel Company in the amount of $290,500. A gas pipeline in Salt Lake City, Utah, for Mt. Fuel Supply Company in the amount of $251,000. Permanent Housing Project in Utah for John S . Galbreath Company in the amount of $940,000. Highway grading in Utah for the Kennecott Copper Corporation in the amount of $315,000. Permanent Housing Project in Sunnyvale, Utah for the Kaiser Company in the amount of $523,000. Iron ore mining in Utah for the Colorado Fuel and Iron Company in 1948, 1949 and 1950 in the amount of $3,898,000. Ozark-Philpott Coal Mine - Near Ozark, Arkansas, Utah engaged in 1948 in strip mining a comparatively thin layer of very high grade coking coal. A varying blanket of overburden up to fifty feet deep is removed with a hugh, 20 cubic yard electric shovel and two smaller draglines. The coal itself is mined with a 2-1/2 yard shovel. The operation includes complete coal washing and cleaning and railroad tipple facilities . Balance Sheet - 1948 Current Assets $4,945,135.13 Other Assets 3,254,683.28 Investments in Other Companies - at cost 1,439,004.84 Property, Plant and Equipment 3,894,223.60 $13,533,046.85 Current Liabilities $ 2,125,622.52 Long Term Liabilities 1,780,192.04 Deferred Profit 79, 817. 91 Reserve for Contingencies 500,000.00 Capital Stock 1,755,075.00 Surplus 7,292,339.38 $13,533,046.85