foreign construction activities during 1955 utah construction company directly or through wholly owned subsidiaries or joint ventures was active in canada mexico panama colombia peru guam okinawa korea australia tasmania and france the volume of foreign construction work was well main tained in relation to the preceding year parent company profits from this source including joint ventures increased 172,000 over last year foreign construction work during 1955 was performed principally by three wholly owned subsidiaries the wholly owned subsidiaries earned itely 475,000 in 1955 compared to 460,000 in 1954 dividends of 25,000 were paid during the year and any remaining surplus funds of these companies were applied to repayment of advances from the parent ipany as of october 31 1955 our investment in subsidiary companies s 3,104,580 a decrease of 1,082,230 from the preceding year among the more active foreign subsidiaries are