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Show MINING SLUMP CUTS REVENUES SALT LAKE CITY, April 26 (U.Ki A slump in metal mining and curtailment of industrial operations op-erations caused a four-and-one-half per cent decrease in reve- I nues of the Utah Power and Light company in 193S, President G.M. Gadsby said today in his annual report to stockholders. Gadsby set loss in operating revenues at $584,866. The company's com-pany's net income was $3,255,291. its gross $12,643,946. Taxes totaling to-taling $1,948,709 reduced the amount available for dividends, j retained in assets and for pre- I ferred stockholders to $1,306,- ! 582. New franchises were granted the company in South Ogden, Logan, Lo-gan, Garland, St. Anthony, Ida., ' and lone, Idaho, during the year, j Improved water conditions made economies in operation -possible, Gadsby said. Decline in net in- j come was $445,195; $326,625 of its caused by a more liberal property prop-erty l-etirement reserve appropriation. appro-priation. The president said the company has 3000 employees, 16,000 stockholders stock-holders and serves 112.000 customers cus-tomers in the intermountain area. |