statement of consolidated income utah construction & mining co and subsidiaries years ended october 31 statements of consolidated surplus utah construction & mining co and subsidiaries auditors report to the shareholders and board ot dir utah construction & mining co years ended october 31 we have ended oi jfidated t e shee if utah coi i & mining co a dela orporation and subsidia funds f ation was made in accordance with generally accepted auditing standards and accordingly included such t ords and such other auditing procedures as we considered necessary in the circumstances we did not examine the financial mpanies see note 1 to the consolidated financial statements but were furnished with reports of other public accountants the our opinionh based upon our examination and the reports of other public accountants the accompanying consolidated ball ints of income capital surplus earned surplus and sources and applications of funds present fairly the financial position statements of affiliated nee sheets and state of the year san franci ther snded in conformity with repted a hunting principle applied o tent basis during the two years arthur andersen & co