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Show Land Development - Special Venture Projects The construction phase of a number of projects in this classifica- tion was concluded in 1960. In Georgia, two projects, both conducted in 50 per cent joint venture arrangement, were turned over to federal agencies - a $9 million Communicable Disease Center to General Services Administration and a $2.5 million Air Traffic Control Center for use by the Federal Aviation Agency. The financing, arranged by us for the latter, involved sale of facilities to a large pension fund, with long term lease-back to the government agency. In Vancouver, B.C., the company has a 25 per cent equity interest in the 20-story Burrard Building, construction of which was completed by the company in 1957. To the south in Seattle, construction of a circular ramp self-parking garage (1150 car capacity) was completed by the company and placed in operation during 1960. This is entirely company-owned (Sierra Corporation), and for the present will be retained as an income investment. Employees On January 13, 1960, two key executives of Utah Construction & Mining Co. were killed. These two men were James Anthony Mecia, Vice President, and Homer A. Mann, Director of Mining Services. The tragedy occurred while they were travelling on a company-owned aircraft which crashed and burned near Cedar City, Utah. Ocean Shipping Utah has an important interest in the international ocean shipment of bulk commodities and marketing of premium grade iron ore to the world's major steel producers through its 50 per cent voting interest and 41-1/4 per cent equity interest in Cia. San Juan, S.A. That company handles the sale and delivery of iron ore produced by Marcona Mining Company. Ore is purchased from Marcona f.o.b. Peru and sold on a delivered basis to millside dock or other terminal facility designated by steel-producing customers in the United States, Europe and Japan. Much of the transportation is provided by vessels owned by San Juan Carriers, Ltd., a wholly owned Liberian subsidiary of Cia. San Juan, S.A. Below is a list of vessels operated by San Juan Carriers, Ltd. in 1960. San Juan Trader 15,000 dwt San Juan Exporter 18,000 dwt Harvey S. Mudd 31,000 dwt Allen D. Christensen 31,000 dwt San Juan Traveler 49,000 dwt San Juan Merchant 49,000 dwt |
