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By Dallas Grubbs

Agenda ?Growth Projections ?Economic Indicators ?Mining Equipment Growth ?Tire Supply ?Michelin Actions to Increase Capacity ?Michelin?s Challenges & Recommendations

Jan 1, 2006

"Guests and Members of the Rocky Mountain Coal Mining Institute: "It gives me a great deal of pleasure to call the Fifty-Second regular meeting to order this morning. "I think that you will agree with me that we have an excellent program planned for the next three days, comprising various interesting and educational subjects by authors of prominence, which will be of keen interest to all of us in the coal industry. "The Program Committee, chairmanned by John Peperakis, has done an excellent job in securing this very splendid talent for our convention. "I would like to say a word as to the, condition of the coal industry in our part of the country as well as elsewhere. I believe we can look at it with more optimism than in the past several years, particularly in the state of Colorado, with which I am more familiar. "Annual coal production in Colorado gradually dropped from around 12 million tons during the years of World War I to as low as 8 million tons during the last war, and to less than 3 million tons in the year of 1954. We believe that it touched bottom that year, as in 1955 the state production went up again to nearly 3,400,000 tons, equivalent to an increase of 15%. As you know, the national increase in bituminous coal production for the year of 1955 was roughly 2000 over 1954. "The national increase for the first two months of 1956 over the same period of 1955 is approximately 2100. Colorado's production is running around 1000 over the comparable period of last year, and the 5 states represented by our Institute came up with a nice increase in 1955 over 1954 of 1000. "Figures on the increase so, far in 1956 for this group of states are not readily available, but I fully believe that. our industry locally, as well as nationally, is now starting out on a steady rise despite the fanfare of nuclear energy and its more glamorous competitor, solar energy. Many authorities tell us that real competition from these sources is a long way off and that the atomic energy program will consume far more coal than is displaced by nuclear power. "I do not mean to infer that we coal people are out of the woods by a long way' so far as holding and regaining markets, for our coal. The captive operators, which are well represented here, have not lost their market for coking coal, since coke is still a necessary

Jan 1, 1956

By J. Q. McNatt

Mr. President and Members of the Rocky Mountain Coal Mining Institute: It is a great pleasure to be with you at this meeting, to enjoy the entertainments, and the good fellowship of all present., as well as to become better acquainted with the men in general. In presenting my subject today, .1 feel like the darky, who was home-, ward bound, had become weary and sat down by the wayside to rest. Presently glancing about to view the scenery, he spied a. large brown bear slowly coming down the path scenting his tracks one by 'one as he advanced. The darky to be polite said, "Mr. Bear, I see you like my tracks, I will make you some more." I have on. a few occasions given some interesting information on the various subjects such as The Prolonged Famines of Arabia, Movements and Migrations of the Races of Men, Life Indications on the Planet Mars, and today I have come before you with a new step in the roadway-Coal Geology. It is sometimes difficult to interpret the geological processes so as to be understood intelligently, but it shall be my aim to make this as plain as possible.

Jan 1, 1927

[Participating Scholarship Colleges and Universities 136 Big Sky Coal Company 111 Canyon Fuel Company LLC 97 Coal Age Magazine 109 Commercial Testing & Eng. Co 99 Continental Conveyor & Equip. Co 103 Copper Mountain Resort 128 Dakota Coal Co 100 DBT America Inc 117 Empire Machinery 101 Energy West Mining Co 102]

Jan 1, 2001

Pictured on these pages are the six RMCMI Scholarship Award Winners for the 1988-89 year followed by a brief profile. All winners were present as guests of the Institute at the June convention in Durango, Colorado to receive recognition at the Welcome Session Monday, June 26, 1989. Each state vice president served as the host for the collegiate winner. In addition to receiving a plaque from the Scholarship Chairman, Keith McGinnis, each winner receives $500.00 tuition credit for the coming academic year. As this is a continuing award, the winners from the previous year will receive another $500.00 for tuition credit in their senior year if they have maintained good academic standing and have been recommended by their university. Criteria for these awards to be made in the spring annually is (1) That the award be made to a sophomore student and used as tuition during the junior year. (2) That the recipient be both a U.S. citizen and a resident of the state involved. (3) That the recipient have good academic standing, be pursuing a degree in a mining related field and have an expressed interest in Western coal as a possible career path. The scholarship program includes curricula other than those in the mining departments, but in the engineering disciplines, such as geology, mineral processing and metallurgy. Contributions to this worthy project are tax deductible to each individual RMCMI member or his firm. Through annual donations of $100.00 or more, the Patrons of the Institute fund the scholarship program and the various vice presidents contribute the travel expenses to convention for these outstanding young collegiates. Donations to this worthwhile program may be made payable to RMCMI Scholarship and mailed to the RMCMI Office, 2700 Youngfield Street, Suite 100, Lakewood, CO 80215. Profiles of the 1989 Scholarship Winners follow. [ ] David P. Pelletier University of Arizona Tucson, Arizona David is a Mining Engineering major and graduated from Santa Fe High School in 1981. He served in the Sixth Marine Regiment, Second Marine Division of the United States Marine Corps from December 1982 thru December 1985. He is a student member of SME-AIME and has held the offices of treasurer, vice president and president. He works volunteer shifts at the University of Arizona San Xavier Mining Laboratory [ ] Johnny F. Blizzard Colorado School of Mines Golden, Colorado A high school graduate of Longmont, Colorado, Johnny carries a 3.968/4.000 at Mines, majoring in Mining Engineering with a minor in Metallurgy. His name has appeared on the Academic Dean's list for the past two years. He received the Robert M. & George R. Harris Scholarship during this past year. He is a student member of SME-AIMMP and an executive council member of CSM's chapter of AIME. Summertimes, Johnny works as a miner for Edger Mine in Idaho Springs, CO on an experimental project for USBM.

Jan 1, 1989

President W. K. Dennison, Jr., called the final session of the Rocky Mountain Coal Mining Institute to order, and introduced H. A. Cornell, Portland Cement Association, Ft. Collins, Colorado. Mr. Cornell explained that the Portland Cement Association was not a sales organization, but is supported by the major manufacturers of portland cement. The research laboratories of the association are constantly endeavoring to improve the quality of cement, as well as promote new markets, new uses, and new ideas. The association works with engineers, contractors and universities, making available to them the results of their research. Mr. Cornell stated that numerous booklets and bulletins were available on request for any phase of construction with concrete. Mr. Cornell presented a film, "How to Make Quality Concrete," to the members of the Institute. D. W. Lyke, General Electric Apparatus Service Shop, Denver, Colorado, was introduced by President Dennison, who presented a film, "A-Hunting He Would Go." Following the film, Mr. Lyke stated that his firm was not confined to electrical equipment, but to all types of equipment, and asked the members to feel free to call for assistance at any time. These two films concluded the Manufacturer's Hour, and President Dennison opened the final business meeting of the session. Robert F. Bowie, of the Auditing Committee, read the Treasurer's Report, and complimented Mr. Whiteside on the commendable state in which the books were found. The Treasurer's Report is as follows:

Jan 1, 1960

By Ted Schwinden

It's my pleasure to welcome the Rocky Mountain Coal Institute to Montana. Now that you've ended a 74 year history of meeting outside our borders, I hope you'll be back more often. Even if I can't convince you to come back before 2060, when another 74 years will be up, I'm confident the Kalispell and Flathead Lake area will do the persuading for me. In recent weeks, I've made a number of speeches around the state pointing out just how wrong the revenue projections in Montana's state government made in April of '85 were when we came to April of '86. Since the middle of this month, Montana's legislators have been in Helena struggling to balance a state budget that, by the end of fiscal year '87, threatened to be some $88 million in the red. Other western states reliant on natural resource and agricultural economies have found themselves caught in the same deflationary spiral. The "window of opportunity" I proposed and the 1985 Montana Legislature passed, couldn't have been opened at a more difficult time. What was envisioned as an incentive to expand Montana's coal production, and our tax base, ran aground on low oil prices and excess hydroelectric power. De- spite the one-third severance tax rebate offered on new coal production, year-to-date figures published in the June 2nd Coal Week show that production in Montana is down almost 10 per- cent from last year. Again, we're not alone. Production in Wyoming is down 8 percent and in North Dakota, it has dropped 13 percent. An over- all 3 percent production decline in western states looks even worse when contrasted against a 12 percent increase for your eastern competitors. Montana's "window of opportunity" had the potential to be a significant signal to your industry. That potential was quickly tempered by the inability of Arab nations to stabilize world energy prices. If any of us had forgotten, the last twelve months have reminded western states that the well-being of our natural resource economies has a tremendous impact on the ability of all levels of government to provide services. The past year has also driven home that in the world of business and in the business of the world, risk-taking is still the name of the game. The Western Governors recognize the problems facing this industry - and our states - and we're prepared to fight for the future of western coal. In the past two decades, legitimate environmental concerns have created a vast body of new legislation affecting coal producers. The industry has been required to meet new reclamation standards - tough regulations relating to ground water, air quality and wildlife habitat. To the industry's credit, coal companies have hired professionals with the technical know-how to do it right. Rather than considering reclamation laws to be an unreasonable burden, today's coal company is more likely to view its reclamation efforts as a source of corporate pride. In a sense, the industry and the agencies which regulate it have matured together . . . although at times OSM is reluctant to admit that either of us capable of or willing to play by the rules. Certainly some abuses exist and OSM's oversight has been helpful in ensuring parity between those states willing to comply and those that would rather defy federal law. Nonetheless, penalizing the more modem and responsible western coal industry for abuses that occur elsewhere is both unfair and counterproductive. Federal penalties range from "cruel and unusual" reporting requirements to the proposed electricity tax that would effectively force utilities and ratepayers who have already met the sulphur emission standards to subsidize those who have dodged their cleanup responsibilities. As a member of the Alliance for Acid Rain Control, I have joined corporate leaders, academicians, environmental representa-

Jan 1, 1986

Jan 1, 2000

Profiled here are the six RMCMI Scholarship Award Winners for the 1987-88 academic year. Five attended the Diamond Jubilee Convention as guests of the Institute at the June 83rd Regular Meeting held in Snowmass Village. Colorado. Each received a recognition plaque and $500.00 to be used toward tuition in his junior year beginning September, 1987. Keith McGinnis. Scholarship Chairman, personally interviewed candidates at three of six colleges and universities in the program. As this is a continuing award the winners this year and those from last year will receive an additional $500.00credit toward tuition if they maintain a satisfactory academic average and are again recommended by their colleges or universities. Criteria for these awards are: I. That the award be make in the spring to a sophomore student to be used toward tuition during the junior year 2. That the recipient be both a U.S. citizen and a resident of the state involved. 3. That the recipient have good academic standing be pursuing a degree In a mining-related field and have an expressed interest in Western coal as a possible career path. Contributions to this worthy project are tax deductible. Checks payable to RMCMI Scholarship may be mailed to the RMCMI Office at 2700 Youngfield Street, Suite 100, Lakewood, CO 80215.

Jan 1, 1987

Profiled on these pages are the eight RMCMI 1996 Scholarship Award winners. All eight winners were present as guests of the Institute at the June convention in Durango, Colorado. Each received recognition at the Institute Awards Luncheon Monday, July 1. 1996. Each state vice president sewed as the host for the collegiate winner and his firm provided travel and hotel expenses. In addition to receiving a plaque from the Scholarship Chairman, Alan Czarnowsky, each winner receives $1,000 tuition credit for the coming academic year, as well as transportation hotel lodging and meals at convention as guests of the Institute. Because this is a continuing award, the winners from the previous year also receive a $1.000 tuition credit in their senior year if recommended by the dean of the college or university and are full time students. A resident from each of the eight RMCMI member states is selected from among Board approved institutions. Criteria for these awards to be made in the spring annually is that the recipient (1) Is a full time sophomore student who will use the tuition credit during the junior year. (2) Be both a U.S. citizen and a resident of the member state. (3) Maintain good academic standing, be pursuing a degree in a mining related field and have an expressed interest in western coal as a possible career path. The scholarship program includes curricula other than in the mining departments, but in engineering disciplines, such as geology, mineral processing and metallurgy. Contributions to this worthy project are tax deductible to each individual RMCMI member or his firm. Through annual donations of $100 or more, the Patrons of the Institute fund the scholarship program. A listing or current donors is found elsewhere in this book. Donations to this worthwhile program are payable to RMCMI Scholarship and may be mailed to the RMCMI Office, 3000 Youngfield Street, Suite 324, Lakewood, Colorado 80215. Profiles of the 1996 Scholarship Winners follow. [ ] ARIZONA WINNER Michelle Begaye New Mexico Tech - Socorro. New Mexico Michelle Lisa Begaye plans to work in a mine near her Navajo Reservation after graduation. She would like to continue teaching the young in her community as she has been doing for the past few years. As a volunteer with the Natani' Trails, she takes at-risk students on wilderness experiences such as rafting, repelling, etc. Active in school, she played the trombone, was in speech and drama, played softball, and was the first female to play football as a right and left tackle. A member of National Honor Society in High Shool, she also made the Dean's List at Navajo Community College. Michelle will pursue a degree in Environmental Engineering when she transfers to New Mexico Tech this fall. [ ] COLORADO WINNER Nicole Albert Colorado School of Mines - Golden. Colorado Nicole is pursuing a BS in Mining Engineering with a Minor in Mineral Economics - and has already proven her serious intent with her many activities related to mining. She is a member of the Society of Women Engineers; Society of Mining, Metallurgy and Exploration; and has participated in two different projects related to mining, one of which was to clean up a mine tailings site. Nicole enjoys hunting, camping, fishing, softball and horses. Growing up with her father, working at a surface coal mine, sparked her interest in this industry.

Jan 1, 1996

By John E. Willson

Typical of southwestern Wyoming are coal structures that dip from 4 degrees to 17 degrees. Those at the Reliance and Winton mines of the Union Pacific Coal Company average 9 1/2 degrees and 15 degrees, respectively, and dip almost directly to the west. By using a hoist for main haulage. a method of mining has been developed whereby four places are driven on the pitch of the seam. Slightly upgrade from the strike at intervals of 300 feet, a two-entry system is driven to the north and to the south. In both fields, which are non-gassy, an exhaust system of ventilation is used. Slope, manway, and lower or haulage entries are placed on the intake. Two air-courses and upper or breaking entries are placed on the return. A retreat system of mining is used exclusively. From the opening of its first coal mine, in the year 1868, until 1923, when the Joy Loader was introduced into the Union Pacific Coal Company's operations, slopes, aircourses and manways were driven by hand. Development work was conducted on the night shift or off shift, and the main hoist was used for haulage. The slope was driven down the pitch with crosscuts turned at intervals of 75 feet and entries at 230 feet. Connections to the workings above were made by driving up the pitch 75 feet. Mule haulage was used to furnish cars to the hand loaders driving planes up the pitch. A sheave was placed at the upper end of the plane with a 1 1/4¬ inch hemp rope doubling around it and having one end attached to the car and the other to the mule. The mule, pulling downhill, raised to the working face a small wooden car of one-ton capacity.

Jan 1, 1941

[Scott Aberle Western Energy Co POB 99 Colstrip, MT 59323-0099 Randy L. Acre Joy Mining Machinery 2569 Silver Oak Ct. Grand Junction, CO 81505 Brian L. Acton Oxbow Carbon & Minerals Inc 1601 Forum Pl-#P2 West Palm Beach, FL 33401 Laine W. Adair Genwal Resources Inc POB 1420 Huntington, UT 84528-1420 Thomas D. Aderman The North American Coal Corp 14785 Preston Rd #1100 Dallas, TX 75240-7891]

Jan 1, 2000

Jan 1, 2007

MR. McKEEVER: I think we had to start some- where. The proceeds of the beltbuckles and hard hat stickers will certainly be a beginning in a scholarship for some of our young people. And maybe, you know we might even get one of them sometime to go to the University of Oklahoma. A few years ago the luncheon speaker for tomorrow, Brooks Mitchell, got a few of the mine presidents together and we spent a full five hours of just dedicated listening to Carl Terzian. We listened basically on three subjects: how to work with the media, how to work with image, and how to identify with our political systems and those who are in them. I remember that as one of the turning points in my perspective on how our system really works. This gentleman who will be addressing you today, Mr. Terzian, will be conducting about a three-hour session tomorrow. And it's a shame that our other activities will not allow some of the golfers to probably be there. Those of you who can come to the session tomorrow morning will find it most rewarding. A little bit later on we will also have a panel session. And I see all of the panelists are here except for Bob Golten, but I understand that he is registered. We should have a full afternoon session with Charlie and his panel. When we started working on this, we naturally went back to Carl Terzian to give us some guidance. If there is anything wrong with your session, it's my fault because he knows how these should be done and he guided us along the way. One thing that I am sorry, it wasn't his fault necessarily, is that Harry Reasoner will not be with us for lunch tomorrow. Brooks Mitchell is going to make all of the PR he can out of the fact that Harry got scratched and he got in place for him. Brooks gave me one comment along that line. He said, "Do you know what you get when you cross a gorilla with a computer"? Of course I bit on that. He said. "Well, you get a Harry Reasoner." A little over a month ago I was invited out to California to Woodbury University at Carl Terzian's insistence. I happened to be sitting by one of his vice presidents. It was a formal affair. We had to wear tuxedos and everything and Mr.Green was sitting there and he said, "You know," he didn't know who I was at that time, but he said, "You know Carl really didn't want this formal affair. Said he had a couple of friends coming from the coal mining industry and they wouldn't know what to do with tuxedos." So with that Carl, we will start this little session and it's your mike. MR. TERZIAN: Thank you very much Ira. Let me begin by expressing my appreciation to the men and women of the Institute for allowing me to be here. I'm deeply concerned about my reputation, my image and don't want you to get the inference that I am responsible for Ira McKeever's image. Nobody could be responsible for that! But it is a great case in point that we all should be concerned about our images. I guess tomorrow morning from about 8:30. a.m. to about 11:30 a.m. we are going to do a? hopefully, a productive and very pleasant expertence for all of us in this growing field and great interest that people have in the area of image. I happen to be from Los Angeles. I have a national firm which has handled about 600 corporations', over the years through the areas of public relations,' community, civic involvement all built around a strengthening and safe guarding our precious, free enterprise system. And the message that I hope to give you, as you will be eating your lunch today, is really not so much about the image of individuals but as the attitudes built on what Bill Banowsky

Jan 1, 1982

[Mr. Scott Aberle Western Energy Co POB 99 Colstrip, MT 59323-0099 Mr. Brian L. Acton Oxbow Carbon & Minerals Inc 1601 Forum Pl-#P2 West Palm Beach, FL 33401 Mr. Laine W. Adair Genwal Resources Inc POB 1420 Huntington, UT 84518-1420 Mr. Thomas D. Aderman The North American Coal Corp 14758 Preston Rd #1100 Dallas, TX 75240-7891]

Jan 1, 1998

resident Schloss called the meeting to order at 9:30 a.m. Bob Dean, manager of the Hotel Colorado, gave a brief explanation of hotel policies governing the swimming pool, and also extended an invitation to the Institute to return in 1963, and stated that the dates June 30 through July 3 were available for next year. He also stated that June 28 through July 1 were available for 1964. He felt that holding the convention during the 4th was not good policy, and that dates prior to or following the 4th would make for better attendance. John A. Reeves, chairman of the Resolutions Committee presented the following resolutions: RESOLVED: That the members of the Rocky Mountain Coal Mining Institute in convention assembled, hereby ratify and confirm all official actions of the officers, the Executive Committee and other committees of the Institute between June 28, 1961, and the present time.

Jan 1, 1962

By D. C. Foote

MR. FOOTE: This paper deals with blasting and mechanical loading. The Union Pacific Coal Company does all of its blasting with permissible powder and electric shooting, but this paper deals principally with blasting in connection with mechanical loading. With the introduction of mechanical loading into the coal fields of southern Wyoming one of the main problems to be taken into consideration was the drilling and blasting of the coal. The methods used in blasting coal for hand loading were found to be ill adapted to the mechanical practice, so numerous tests were conducted from time to time to determine a system or systems whereby the coal might be blasted in a form to be easily handled by the loading units. The general practice in blasting coal for hand loading, for example in a room 24 feet wide and seven feet high with an undercut of seven feet, would be to shoot one or two strong breaking shots in the center and one on each rib. While much of the cut would be blasted down in good lump, some coal would be left hanging at the back and ribs. With hand loading, the miners would have time to pull this coal down with a pick between cars and eventually would clean up the place ready for the cutting machine. The loading machine, however, cannot get this coal down and its operation would be delayed while the men were doing the necessary pick work.

Jan 1, 1929

By C. Arthur Carlson

"It now becomes my privilege and duty to call to order this fifty-first meeting of the Rocky Mountain Coal Mining Institute. "I bid you a hearty welcome and I know by your attendance at these meetings you will gain a great deal of valuable information, as well as have a wonderful time. "We have been very ably represented by Mr. John H. Emrick as General Chairman, assisted by our good friend Mr. Fred W. Whiteside, our secretary and treasurer. I know they have worked very hard in selecting the various committees, who in turn - by the looks of our program have gone all out to prepare material that should be of great interest to us. I trust we will be attentive to the subjects presented and freely enter into the discussions, also relating our problems and experiences. I am sure this will prove both profitable and beneficial to all present. "The main purpose of these conventions is to become acquainted with each other, renew old acquaintances, talk over our problems, and have a little fun and relaxation from our every day routine. "Let us not forget the manufacturers, the distributors, the operators, or the press because it is through their splendid support that this organization is successful. "Since our last meeting we have gained many new members, whom we especially welcome. We are sorry to have lost a few. I am mindful, at this time, of two very good members from my home state who have passed away, Walter Wetzel, a former president of this institute, and Lee Alger, at the time of his death, Vice-President from Utah. We also lost very recently our assistant Secretary-Treasurer, Everret Davis. These men contributed a great deal to the institute and the coal industry in general. I am sure they are greatly missed by all who knew them."

Jan 1, 1955

Pictured on these pages are the seven RMCMI Scholarship Award Winners for the 1992-93 year followed by a brief profile. All winners were present as guests of the Institute at the June convention in Beaver Creek, Colorado to receive recognition at the Institute Awards Luncheon Monday, June 28. 1993. Each state vice president served as the host for the collegiate winner. In addition to receiving a plaque from the Scholarship Chairman, Alan Czarnowsky, each winner receives $750 tuition credit for the coming academic year. As this is a continuing award, the winners from the previous year will receive another $750 for tuition credit in their senior year if they have maintained good academic standing and are recommended by their university. A resident from each of the eight RMCMI member states is selected from among Board approved institutions. Criteria for these awards to be made in the spring annually is (1) That the award be made to a sophomore student and used as tuition during the junior year. (2) That the recipient be both a U.S. citizen and a resident of the member state. (3) That the recipient have good academic standing, be pursing a degree in a mining related field and have an expressed interest in Western coal as a possible career path. The scholarship program includes curricula other than those in the mining departments, but in engineering disciplines, such as geology, mineral processing and metallurgy. Contributions to this worthy project are tax deductible to each individual RMCMI member or his firm. Through annual donations of $100 or more, the Patrons of the Institute fund the scholarship pro- gram and the various vice presidents contribute the travel expenses to convention for these outstanding young collegiates. Donations to this worthwhile program may be made payable to RMCMI Scholarship and mailed to the RMCMI Office, 3000 Youngfield Street, Suite 324, Lakewood, CO 80215. Profiles of the 1993 Scholarship Winners follow. [ ] ARIZONA WINNER Kevin Shirley University of Arizona Tucson, Arizona A member of the Student Chapter - Society of Mining Engineers, Mr. Shirley also belongs to the Campus Crusade for Christ organization. He enjoys baseball, basketball and football. He states, "Miners are meeting the demand of the public by providing energy fuels and minerals to support the standard of living we enjoy. It is sad to see people out of work in this country, but the third world is largely undeveloped, and many jobs are moving abroad." 'I consider winning the RMCMI scholar- ship a great motivator; your belief in me will help me become my best." [ ] COLORADO WINNER Derek Rawson Colorado School of Mines Golden, Colorado "1 have been enthusiastic about the mining industry since I lived in Divide, Colorado and spent time exploring the old mine sites." Derek says. "President Clinton may hit the mineral industry with many reforms, but I believe self sufficiency is important ... we need to produce here in the U.S. what we consume." Mr. Rawson is involved with intramural sports and varsity track. He is a member of the Society for Mining, and Exploration, Inc.; Colorado School of Mines Caving Club; Colorado School of Mines Shooting Club; and Alpha Tau Omega Leadership Fraternity.

Jan 1, 1993

CHAIRMAN EMRICK: We have a very interesting program this morning, of a mechanical nature, and I am sure you will all be very much interested in it. At the conclusion of each paper there will be time given for discussion, and we will be glad to have all of you enter into the discussion. Before we start the program, I want to ask the men who have been appointed chairmen of committees to come and get these folios, which contain papers concerning their particular committees. The Nominations Committee, of which David Brown is chairman, has a folio here. It has been customary every year to have a photograph of those in attendance taken, and I presume it is the will of those in attendance this morning to have their pictures taken. We plan to do that about a quarter of twelve, approximately, this morning in the room instead of going outside as we have heretofore. Frank Miller has an interesting an¬nouncement to make. Frank, if you will just take about five minutes to tell your story.

Jan 1, 1934