Show Mountain Fuel Supply Director Named Stores Earnings s Rise Stockholders of Mountain Fuel Supply Co last week elected J W Allen vice pre pre- president president in charge charRe of distribution distribution tion as a new director HE SUCCEEDS J D Rob Rob- Roberts Roberts erts who has retired His election was one of the highlights of the annual meet meet- meeting tag ing in the basement auditor auditor- auditorium ium of the firms firm's Salt Lake City offices Mountain Fuels Fuel's earnings for 1962 should approximate a share compared compare with in 1961 1061 W T Nightingale Nightingale gale president told the meet meet- meeting ing I THIS IS somewhat less of an increase than occurred in 1961 due principally to a higher debt cost cost he said After the meeting directors declared a second quarter dividend of 35 cents a share payable June 11 to stockholders ers era of record May 23 This was the same as paid last year MR NIGHTINGALE an an- an announced to stockholders that the firm had programmed 10 minion dollars of new con can construction In 1962 About half of the costs would be gener gener- generated by the company company the theother other five million dollars pro pro- proba probably ba bably bly would be secured by bank loan he said The money would be used as follows for wells and facilities in the gas fields for high pressure transmission lines and for increased distribution lines and facilities facilities ties needed for new custom custom- ers HE NOTED further that the company now owns or controls twO trillion cubic feet of natural gas equivalent to a year 22 supply at last years year's sales rates New re- re reserves re- re reserves serves serves are being located year year- yearly yearly ly he added Mr Allen said the firm ex- ex expected expected to add between and new customers in 1962 HE ANNOUNCED also tl that at Mountain Fuel would be belaying laying layh g B a 32 mile 20 Inch 20 h pipe pipe- pipeline line front from orem Orem Salt Lake City that would greatly facil- facil facilitate facilitate delivery of gas from Uintah Basin fields Current Current- Currently Currently ly transmission between Orem and Salt Lake City is isby Isby by inch lO-inch line He announced also that the firm will lay a mile five 20 20 Inch line from Its North T Tem m- m pIe plant to the Cudahy crossover where It will tie Into nn an existing Inch 20 line lne between Salt Lake and Og- Og Ogden Ogden den EFFECT OF THE two lines will be to facilitate delivery of af the new gas supply from the Uintah Basin Into the Salt Lake valley and to in- in increase Increase crease flexibility of the corn com pany's distribution systems system J T Simon vice president in charge of exploration pro pro- production and transmission an- an announced pounced that some 32 miles of original inch 16 pipeline Installed in the firms firm's Wyo- Wyo Wyoming Wyoming ming gas fields In 1929 will willbe willbe be replaced replaced this summer summer with witha a 20 inch line THE NEW LINE will have increased capacity and great great- greater er reliability A total of 40 gas wells have been connected to the company's com com- company's pany's Uintah gas pipeline An additional four will soon soan be connected he added M M FIDLAR executive vice president cited significant cant cost reductions brought about by the use of mechanical mechanical ical accounting Example The The electronic brah brains a c can h compute heating and conditioning air costs in six seconds III as compared with two hours houts required by a human ALL MEMBERS of the board were reelected with the exception of Mr Roberts At a directors meeting which followed all present officers were reelected Gas sales in 1961 amounted to more than 89 billion cubic feet compared with about 81 and a JaIl half billion cubic feet a year ago according to the an- an annual annual nual report NET INCOME was or a share compared ed o or a ashare ashare share for the previous year Revenues were compared to were Dividends were a ashare ashare share compared with the year before |