OCR

Officers of the Company During 1963 were: Marriner S. Eccles Chairman of the Board Edmund W. Littlefield President and General Manager Frank M. Keller Senior Vice President Charles E. McGraw Senior Vice President Orville L. Dykstra Vice President and Treasurer Joseph K. Allen Vice President Weston Bourret Vice President Wayne S. Byrne Vice President Guy V. Sperry Vice President Alexander M. Wilson Vice President George P. Sealy Assistant Treasurer Wilson D, Leonard Controller Board of Directors Executive Committee Marriner S. Eccles Chairman Marriner S. Eccles - Chairman Marriner A. Browning Edmund W. Littlefield Lester S. Corey Albert L. Reeves Lawrence T. Dee William R. Kimble, Jr. Edmund W. Littlefield Shepard Mitchell Albert L. Reeves Paul L. Wattis During the year, Utah, acquired a one-third interest in Development and Resources Corporation of New York City. The remaining two-thirds interest in the New York firm is owned by Lazard Freres & Co. , investment bankers, and the company's own management, headed by David E. Lilienthal. As a part of the transaction Utah purchased the shares held by the estate of the late Gordon R. Clapp, who died in April. Development and Resources Corporation was started in 1955 by Lilienthal, Clapp and Lazard Freres & Co. and its principal activities have centered in development of natural resources in Iran, Africa, Latin America, Alaska, and Puerto Rico. One of the firm's well known projects is the recently completed 646-foot Pahlavi Dam in Iran. Mount Goldsworthy Henry T. Mudd, President of Cyprus Mines Corporation of Los Angeles, and E. W. Littlefield, President of Utah Construction & Mining Co. , announced December 17, 1963 that Mount Goldsworthy Mining Associates, the joint venture partnership comprising Consolidated Gold Fields (Australia) Pty. Limited, Cyprus Mines Corporation and Utah Construction & Mining Co. , had decided to proceed with their iron ore project at Mount Goldsworthy in North West Australia.