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Show Mountain) Fuel Notes Rising Expenditures Mountain Fuel Supply Company's Com-pany's net income for 1958 totaled to-taled $3,438,800, the equivalent of $1.57 a share, compared . with $3,754,434 or $1.72 a share in 1957, according to the company's annual report released by W. T. Nightingale, president. The decline in earnings was attributable to a recurrence of warm weather, a recession in industrial in-dustrial activity, and the rising cost of purchased gas. , . . . Four quarterly dividends of 3d previous. At the end of 1958, reserves re-serves were estimated at 1,811 billion cubic feet (at 12.85 p.s.-i.a.) p.s.-i.a.) sales pressure base, compared com-pared with 1,768 billion cubic feet at the end of 1 95 7. ? das sales to all classes of customers cus-tomers amounted to 65,170,456 MCF compared , with the 1957 total of 67,853,946 MCF. Gas revenues for 1958 were $26,-088,644 $26,-088,644 compared with $25,-160.075, $25,-160.075, in 1957. ... ? The only change in gas rates cents each a share were paid in the year, the same as last year A record number of new customers, cus-tomers, 11,103, was added to the Mountain Fuel distribution distribution dis-tribution system during the year, bringing the total number of customers served to 155,444, the report said. Four new communities, commu-nities, all in northern Utah, also were added to the system. A new gas field in southwestern southwest-ern Wyoming, described by Mr. Nightingale as a "very important addition to our gas supply," was discovered in 1958. Mountain Fuel is unit operator of the new field, known as Trail Unit, and three other companies own interests. in-terests. All the gas which may be sold from the field is owned or controlled through purchase by Mountain Fuel. Recent tests of two wells in the Trail field indicate an absolute abso-lute open flow of 31,500,000 and 30,000,000 cubic feet a day, respectively, re-spectively, i . . , , Discovery of this field and further fur-ther development of new reserves re-serves in the Birch Creek and Dry Piriey fields of Wyoming resulted in an increasei n reserves re-serves at the end of the year as compared with reserves the year during the year was a provisional provi-sional rate adjustment to allow an increase in revenue of approximately ap-proximately $1,000,000 annually, annual-ly, which was authorized March 4, 1958, by the Utah Public Service Commission to offset an increase of a like amount made by Pacific Northwest Pipeline Corporation on the price of gas it sells to the company. Net plant additions for 1958 were $6,068,903. Ia addition, other assets were increased in the net amount of $525,453, all of the increase being accounted for in prepayments on gas purchase pur-chase contracts. , The report reviewed the management man-agement changes during the year caused by the retirement of J. D. Roberts, vice president, and the resignation of L. Clyde Ol-pin, Ol-pin, secretary and treasurer. M. M. Fidlar was named executive vice president, J. W. Allen was named vice president in charge of distribution,' succeeding Mr. Roberts; B. Z. Kastler, Jr., was named secretary and W. L. Williams, Wil-liams, treasurer, The annual meeting of share- holders has been scheduled for Tuesday, May 12, at the com-i com-i any's general office, |