Lehman Brothers Collection - Contemporary Business Archives

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Lehman Brothers Collection

Twentieth-Century Business Archives

Utah Construction & Mining Co. - Lehman Brothers Collection

Utah Construction & Mining Co.

List of Deals

The Utah Construction Company was organized in Ogden, Utah, in 1900. The articles of incorporation list Thomas D. Dee as president and a principal stockholder, along with David Eccles, Edmund Orson Wattis, Warren L. Wattis, William H. Wattis, and Marie D. Wattis.

The injection of new capital allowed the young company to quickly repay its debts and grow at an astounding rate in its early years. During the first year of business it paid a 165 percent return on capital.

The company’s early success at building railroads in the West and Mexico soon expanded into building dams. Utah Construction bid successfully in 1931 to construct the Hoover Dam for the Federal Bureau of Reclamation. As cost estimates for the dam mounted, Utah Construction became a major partner in Six Companies, which completed the dam in 1935, a year ahead of schedule. During World War II, the company undertook projects at Pearl Harbor and in Guam and participated in building the Alaska Military Highway.

Utah Construction acquired its first mine in 1944, and mining quickly became a major portion of the business, prompting a company name change to Utah Construction & Mining Company. In the postwar years, Utah Construction further diversified to include residential and commercial construction and opened operations in thirteen countries on five continents. For example, in 1965 Utah Construction finished work on Tamut Pond Dam in Australia. In 1967 Utah Construction issued common stock for the first time and became a public company.

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