OCR

1951 During 1951 two significant changes were made in executive positions. In January Mr. Allen D. Christensen was elevated to the position of Executive Vice President and General Manager. In assuming the burden of General Manager, he took over the important duties that Mr. Lester S. Corey had discharged with distinction since 1931. In March Mr. Edmund W. Littlefield was elected Financial Vice President and Treasurer. Mr. W. H. Harris retired as Vice President and Treasurer but continued to serve the Company as Secretary and Director. Mr. H. N. Stronck resigned as Vice President, Assistant Treasurer, and Assistant Secretary. During the year Utah also formed an Executive Committee for the purpose of creating a closer liaison between the Board of Directors and the operating management. The Board of Directors would hold regular two-day meetings quarterly. It would be assisted in its work by the Executive Committee, which would meet monthly. Members of the Executive Committee at this time were: Marriner S. Eccles, Chairman; Lester S. Corey; Allen D. Christensen; and Edmund W. Littlefield. Officers of the Company during 1951 were: Marriner S. Eccles, Chairman of the Board; L. S. Corey, President; Allen D. Christensen, Executive Vice President and General Manager; E. W. Littlefield, Vice President and Treasurer; A. H. Ayers, Vice President; C. S. Davis, Vice President; George R. Putnam, Vice President; W. H. Harris, Secretary. BALANCE SHEET 1951 Current Assets $12,469,770 Other Assets 2,186,472 Investment in other Companies 1,854,679 Property, Plant and Equipment 9,638,498 $26, 149,419 Current Liabilities $ 6,474,186 Long Term Liabilities 4,826,663 Capital Stock and Retained Earnings 14,848,570 $26, 149,419