vigorous world-wide operations in virtually every field of construction activity continued to be the program of utah construction company and its subsidiaries and affiliated companies and today the company offers its clients the fruits of more than a half century of broad and successful experi ence and the services of a roster of personnel skilled in the industry in addition to work being performed on dams and powerhouses dredging and land reclamation industrial and metallurgical plants military and govern mental facilities contract strip mining and commercial buildings important new work was started including three major tunnel projects two dams a significant missile launching facility and a modern shopping center thus our construction portfolio remains diversified both with respect to geo graphical areas in which the work must be performed and by types of work as previously reported the aggregate uncompleted volume of construction work to be performed by utah and its subsidiaries including an allocable share of work to be performed by joint ventures showed a substantial decline during the fiscal year 1957 the full impact of the decreased backlog of work construction activities was seriously felt during the current fiscal year the volume of contract performance during the year being materially lower than during the preceding fiscal period carrying with it an attendant increased ratio of administrative costs and also losses incident to idle equipment a further major factor depressing 1958 construction earnings has been the sizeable losses incurred by several of the st lawrence seaway joint ventures in which utah is a participant some improvement has been noted in the dollar volume of construction contracts awarded to utah during the fiscal year just closed as compared with the previous year but additional work in the coming year is desirable if the company is to earn a satisfactory return on us construction investment we are continuing to book new business as the new fiscal year progresses and determined efforts are being made to put a major portion of our equip ment to work if these efforts are successful utah's earnings from its con struction activities should improve operation were begun on a 12,000,000 power tunnel as part of southern california edison company's mammoth pool power proj ect this 7.5 mite tunnel project near fresno california is being undertaken solely by utah construction company and is scheduled for completion in march 1960 pictured above is the rock creek adit to the power tunnel work c the foe ' tunnel project twenty-six miles up the . _ „ . . jrth of oroville california for the pacific gas & electric company was completed this year illustrated is the surge chamber leading to a new pg&e power house with grouting in progress and a portion of the concrete work inside the surge chamber this diversion tunnel part of the extensive poe power hydroelectric project was constructed by utah-bates & rogers a joint venture with utah construction company the r sponsor anaging