Title |
UCUI_1954_AnnualReport |
Creator |
San Francisco: Utah Construction Company |
Description |
The report includes information about the company for the fiscal year ending October 31, 1954. This consists of a management comment to the shareholders, an abstract of operations, properties and interests, and financial statements including the auditors' report. |
Subject |
Auditors’ reports; Financial executives; Corporation reports; Financial statements; Financial statements notes; Stockholders |
Digital Publisher |
Stewart Library, Weber State University, Ogden, Utah, USA |
Date Original |
1954 |
Date |
1954 |
Date Digital |
2006 |
Temporal Coverage |
1947; 1948; 1949; 1950; 1951; 1952; 1953; 1954; 1955; 1956; 1957; 1958; 1959; 1960; 1961; 1962; 1963; 1964; 1965; 1966; 1967; 1968; 1969; 1970; 1971; 1972; 1973; 1974; 1975; 1976 |
Item Size |
8.5 inch x 11 inch |
Medium |
bound book |
Item Description |
21 page paper report bound in landscape format |
Type |
Text; Image/StillImage |
Conversion Specifications |
Archived TIFF images were scanned with an Epson Expression 10000XL scanner. JPG and PDF files were then created for general use. Transcripts generated by OCR (optical character recognition). |
Language |
eng |
Relation |
https://archivesspace.weber.edu/repositories/3/resources/212 |
Rights |
Materials may be used for non-profit and educational purposes; please credit Special Collections Department, Stewart Library, Weber State University. |
Source |
UCC/UIC 1900-1984 MS 100 Box 4, Special Collections, Stewart Library, Weber State University |
Format |
application/pdf |
ARK |
ark:/87278/s6qptw7e |
Setname |
wsu_ucui_ar |
ID |
97947 |
Reference URL |
https://digital.weber.edu/ark:/87278/s6qptw7e |
Title |
UCUI_1954_AnnualReport - 1954_001_page1 |
Image Captions |
below this modern office building in phoenix arizona was built and sold during 1954 it is leased under a long-term lease to mountain states telephone and telegraph company and rests on land still owned by utah construction company |
Description |
The report includes information about the company for the fiscal year ending October 31, 1954. This consists of a management comment to the shareholders, an abstract of operations, properties and interests, and financial statements including the auditors' report. |
Subject |
Auditors’ reports; Financial executives; Corporation reports; Financial statements; Financial statements notes; Stockholders |
Digital Publisher |
Stewart Library, Weber State University, Ogden, Utah, USA |
Date Original |
1954 |
Date |
1954 |
Temporal Coverage |
1947-1976 |
Item Size |
8.5 inch x 11 inch |
Medium |
bound book |
Type |
Text; Image/StillImage |
Conversion Specifications |
Archived TIFF images were scanned with an Epson Expression 10000XL scanner. JPG and PDF files were then created for general use. Transcripts generated by OCR (optical character recognition). |
Relation |
https://archivesspace.weber.edu/repositories/3/resources/212 |
Rights |
Materials may be used for non-profit and educational purposes; please credit Special Collections Department, Stewart Library, Weber State University. |
OCR Text |
Show construction cover high in the 12-story first security fourth south building under construction in salt lake city company workers are silhouetted against the majestic backdrop of the wasatch range below this modern office building in phoenix arizona was built and sold during 1954 it is leased under a long-term lease to mountain states telephone and telegraph company and rests on land still owned by utah construction company ll il to our stockholders utah construction company has so expanded and diversified its activities over the last several years that it appears timely to review briefly the principal phases of the company's business in general the parent company is both an operating company and a holding com pany it carries on a diversified construction operation in the united states and its possessions it also is engaged in open-pit mining of iron ore and coal while conducting exploratory work in a number of other mineral fields in addition to working capital these activities require the substantial investment in equipment and other fixed assets carried on the parent company's books besides these assets the com pany at the close of its 1954 fiscal year had invested its funds in six wholly owned subsidiaries two of which are minor in importance engaged in foreign construction or mining activities thirty-four active affiliated companies and four affiliated companies now in liquidation of the active companies one is in foreign heavy construction three are concerned with the mining selling and transporting of peruvian iron ore twenty-nine are in the business of constructing owning or operating housing projects and the last is an investment in the permanente cement company of which we now own 4.4 of the total stock outstanding besides its investment in these securities the company has acquired for resale and development approximately 6,000 acres of land in the san francisco bay area under purchase contracts these properties will be the source of future construction work because of the many corporations involved it is not practical to attempt to consolidate their statements and the financial statements that follow this report are those for the parent company only and do not reflect income from subsidiary or affiliated companies except for dividends actually received to give you a better understanding of the over-all results achieved we have also reported our share of the earnings of other companies that are not included in the results of the parent company parent company earnings utah construction company for the year ending october 31 1954 earned a net profit of 1,115,549 equivalent to 1.27 a share this compares with 2,081,302 or 2.37 a share adjusted for the 5 for 1 stock split earned during the preceding year the decline in earn ings was the result of several factors our gross revenues declined partly because of the greater use of subsidiary companies to perform the work but more importantly because of an intensely competitive situation in the heavy construction industry which left the company with the unsatisfactory choice between suffering a decrease in volume or taking work at prices that did not appear to offer a profit and return on investment commensurate with the risk involved mining revenues also declined because of the lower activity of the steel industry earnings of subsidiary and affiliated companies not included in the figures above is our share of the earnings of sub sidiary and affiliated companies in which we have investments after allowances for dividends paid and for taxes payable upon distribution of the undistributed earnings our share of the net profits of these companies was 2,845,659 equivalent to 3.24 a share of utah con struction company stock this compares with 879,716 or 1.00 a share for the preceding year |
Format |
application/pdf |
Setname |
wsu_ucui_ar |
ID |
98206 |
Reference URL |
https://digital.weber.edu/ark:/87278/s6qptw7e/98206 |