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By Todd A. Myers

Forward Looking Statement Disclaimer This presentation may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the Company's vision, strategy, operations, growth, development and any other statements containing the words, "believes, " "expects, " "anticipates, " "plans, " "estimates, " and similar expressions. There are a number of factors that could cause Westmoreland Coal Company's actual results to differ materially from those indicated by such forward-looking statements including, but not limited to: general economic and business conditions; healthcare cost trends; the Company's ability to manage growth and significantly expanded operations; the ability of the Company to implement its business strategy; the Company's ability to pay the preferred stock dividends that are accumulated but unpaid; the Company's ability to retain key senior management; the Company's access to financing; the Company's ability to maintain compliance with debt covenant requirements; the Company's ability to successfully identify new business opportunities; the Company's ability to achieve anticipated cost savings and profitability targets; the Company's ability to utilize its tax net operating losses; demand for electricity; the effect of regulatory and legal proceedings; and other factors identified in the Company's most recent Annual Report on Form 10-K and subsequent reports filed with the SEC. The Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date such statement was first made.

Jan 1, 2008

By S. W. Farnham

We have listened to many papers describing mechanical loaders, and systems of mining planned to increase their efficiency. We have become familiar with the various types and in a general way, their capacities and limitations. Messrs. F. E. Cash and E. H. Johnson in Bulletin 17 of the Carnegie Institute of Technology, subject Coal Mining Investigations, have a very complete review of the loading situation then. Mr. A. W. Dickinson, in a recent paper before this Institute, gave a later illustrated review of mechanical loaders. On page 28 of Cash & Johnson's paper is a list of loading machines to which might be added to bring the list down to date, the following: Under Digging and Loading Machines The Goodman Power Shovel Under Scraper Loaders The Goodman 436-G-3 125 H. P. three drum Scraper loader The Goodman 35 H. P. Entry loader and the Two Drum 125 H. P. Hoist built by Vulcan of Denver for scrapers Under Shaking Trough Conveyors The Eickhoff Conveyor The Link-Belt Conveyor The McCarty Duck-bill which is really a digging and loading element built to attach to the end of and operated by a reciprocating conveyor. The outstanding feature in this line of work in the past few years is the fact that a few very successful operations have been worked out on a large scale; the officers and staff in charge of this work have gone into details very thoroughly and altered and improved, in many cases, their mine equipment and mining methods, and by the exercise of persistent energy and intelligent effort, in the face of frequent difficulties and discouragements, they have attained results that are far ahead of the average loader operation. The coal mining industry owes much to these men for the pioneering and development of mechanical loading; their investigations in transport, shooting, shearing, snubbing, cleaning, and production costs, the results of which they have given freely and frequently to the public, are of great value. Foremost among the pioneers in this work are the Union Pacific Coal properties, the Quealy properties, the Sheridan Wyoming Coal Company and in the Central West, the Union Colliery Company of Illinois. On the other hand, in the great majority of installations, one loader, or possibly two or three loaders have been started in a given operation and through failure to make the proper effort to improve their transportation and work out the systems to utilize their loading machines, the loaders have not shown appreciable savings and in many cases, the installation has failed. It has been frequently stated in many meetings where loading has been discussed, that the idea of mechanical loading must first be sold not only to the operating staff but to the entire personnel of any company where installations are made. The problems involved in the successful application of this equipment are such that it requires enthusiastic and wholehearted teamwork on the part of everyone connected with the work and when difficulties arise, they must be ready to exercise initiative and try new ways oftentimes of overcoming impediments. The closest attention now is given to the question of economics how much will a loader reduce the cost of coal in any particular situation? Without fear of successful contradiction, I believe that experience up to date has unquestionably shown that where the shovel type of loader can be properly used, it produces in wide work, the cheapest coal of any loading device yet brought onto the market. Naturally there is a considerable difference between the results from different makes of shovels.

Jan 1, 1926

By Sam Andrews

Mr. President, Officers and Members of the Rocky Mountain Coal Mining Institute: This is my first attempt to prepare and read a paper before your association. The Rocky Mountain Coal Mining Institute, I understand, was formed for the purpose of increasing knowledge relating to coal mining in all its various branches by study, research and discussion. In writing my paper, I have tried to be as practical as I can, at the same time, present my arguments so that they can be easily understood. When I use the word science, I mean organized common sense. I humbly ask my hearers to be a little patient, while I read my paper, and be "to its faults a little blind, and to its virtues a trifle kind". Western Europe is said to be the cradle of the coal mining industry. We are told that the Ancient Britons were acquainted with the use of coal long before the Romans invaded and conquered their country. The Romans were never too proud to learn from the outer barbarians, and possibly acquired the precious secret from them: We are told that it was not until the 13th century, that the coal mining industry, assumed any noticeable importance in Britain, and on the Continent. In the year 1259 Henry the 3rd granted a charter to the freemen of New Castle on Tyne, allowing them to mine coal. For a long time it was used in the arts and manufactures only, wood continuing to be the common domestic fuel. As has been the case with almost every great benefit, the introduction of coal as a fuel was stoutly resisted at first, and we find its use prohibited in the city of London in the reign of Edward II, by Royal proclamation ; which was soon discovered to be injurious and foolish, and consequently withdrawn. It is interesting perhaps, to know how this Royal proclamation was brought about. A lady of the Royal household was riding in her coach one day through a village in which coal was burned as a fuel, and she suffered such a cough by inhaling the coal smoke that she decided to call a council of suffragetts, who ultimately decided that the burning of coal was injurious to their health and complexion. They drafted out a petition and presented it to the king, who speedily issued the order that no coal was to be burned in the city of London. The penalty for disobeying this order was death by hanging. We are informed of one poor man who continued to burn a lump of' coal on his fire in winter time; he was arrested, sent to prison and condemned to death; the judge in passing the sentence solemnly stating that if he was not allowed to get a fire that was hot enough in this world, he felt that he surely would be allowed one in the next.

Jan 1, 1921

Jan 1, 1953

The second annual RMCMI Mine Rescue Performance Evaluation was held in conjunction with the 1993 RMCMI Convention at Beaver Creek. [ ] Six teams participated in this year's evaluation; BHP Minerals, Navajo Mine, Fruitland. NM; BHP Minerals - LaPlata Mine. LaPlata, NM; BHP Minerals - San Juan Mine. Waterflow. NM; The Coteau Properties Company - Freedom Mine, Beulah. ND; Cordero Mining Company, Gillette, WY; and The Falkirk Mining Company - Falkirk Mine. Underwood, ND. The Western Energy Company of Colstrip, MT was represented through observers and evaluators. [ ] Realistic industrial related scenarios, closely simulating the stress of actual rescue incidents, were provided by members of the Eagle Valley Ambulance Service. Five different scenarios were presented to each team on the first day of the evaluation and three on the second. Each team was given the pertinent information to solve the problem as they assembled at the scenario site. The scenarios were going on simultaneously and each team was unaware of the circumstances until they entered the scene. Interested onlookers were afforded the opportunity of viewing the actual simulated rescue operations as they occurred. The teams received valuable pointers and direction from the ream of evaluators following each scenario. They were are also given the opportunity to observe the other teams in action and to meet with the members of all the teams to share information and ideas during team meetings per the predetermined schedule. The primary goal is to recognize current rescue skills, knowledge, and abilities of participating teams. In doing this, each team was provided with individual evaluations and a path for improvement as needed. Each team was recognized for their efforts at an awards breakfast on the final day of the evaluation. New innovations in rescue equipment were introduced and demonstrated for interested teams following the awards program. The importance of progressive training such as what we are witnessing at evaluations during the RMCMI conventions cannot be stressed strongly enough. These teams are the providers of immediate rescue and medical care for victims of accidents at their respective properties. Every mining operation has the potential for very serious accidents due to immense size of equipment and mining logistics. These rescue teams must be prepared to act with the most immediate, professional and knowledgeable actions to save lives and prevent further injuries. Safety is a primary concern of every mining operation and the mine site rescue team is an integral part of that safety effort. The evaluation program is very appreciative for the financial support of the following businesses to enable this program to continue: Safety Master, Acme Welding, North American Coal, Triune. Cummins, OK Tire. Modern Industrial, The Industrial Company, Mine Safety Appliances (MSA), Biomarine, Personal Safety Enterprises, Inc., and Blattner Construction, Thank you again for your much needed assistance. Plan to be a part of next year's Mine Rescue Evaluation Program as a participant or an observer. You will be amazed at the skill levels of the Rescue Teams. See you next year! Linda G. Ash The falkirk Mining Company [ ]

Jan 1, 1993

The fourth annual Mine Rescue Evaluation program was held in conjunction with the 1995 Institute convention at Crested Butte, Colorado. The Mine Rescue committee is chaired by Lynn Busskohl and is but one of 16 such committees of the institute. In 1995 seven teams participated in the program. They were BHP Minerals, The Coteau Properties Company, Decker Coal Co., The Falkirk Mining Company, Kerr-McGee Coal Corporation, Sabine Mining Co. and Western Energy Co. [ ] Professional evaluators who provided challenging scenarios for the near 60 persons were Jack Knight of Pensacola, Florida; Dave Medick of Northwestern Resources, Jewett, Texas; Joe Nugent of Idaho Springs, Colorado and Jack Peleaux of Innovative Access, Evergreen, Colorado. Each team was comprised of seven members and one trainer representing the states of Montana, New Mexico, North Dakota, Texas and Wyoming. This committee challenges the incoming Colorado vice president to locate a team for the 1996 program in Durango, Colorado. Five different scenarios were presented the first day of evaluation and three the second. Each team was given the pertinent information to solve the problem as they assembled at the site. The realistic industrial related scenarios closely simulated the stress of actual rescue incidents and were going on simultaneously. Each team was unaware of the circumstances until arriving on the scene. Lynn Busskohl presented an overview of the Mine Rescue committee work at the Monday Institute welcome session and invited all attendees outside to view the various pretend rescue operations. Valuable suggestions were made by the team of evaluators following each scenario. These teams are providers of immediate rescue and medical care for accident victims at their respective properties. The members are prepared to act with immediate and professional knowledge to save lives and prevent further injuries. [ ] Many donors financially assisted with the 1995 program. They are: Blattner Constructors; Butler Machinery Co.; CMC Rescue, Inc.; Galls, Inc.; General Equipment; PMI-Petzel Distribution, Inc.; SafetyMaster; Skedco and TIC of Wyoming. An adder to the 1995 convention was golfing on Saturday, June 24 for three foursomes. This may become an annual event if there is sufficient interest. Team meetings, tests and swap meetings were attended by all participants during the Friday thru Monday program. A fun competition took place after lunch Monday followed by a training session. All events were chaired by Lynn Busskohl. On Saturday evening, June 24 a reception for all mine rescue participants and spouses who had advance registered for the social event. The RMCMI Board of Directors was invited to attend and meet with the teams. As convention attendees, all mine rescue committee members attended the Monday night country western reception and Bar-B-Q with their families. This was followed by an adult western dance evening. The Mine Rescue committee looks forward to a 1996 return to Tamarron near Durango, Colorado which was the site of the first evaluation program. Plans call for all convention housing to be at Tamarron.

Jan 1, 1995

By David Griffiths

I am not an orator and have never said a word in public during my thirty years' experience in the coal mines of Colorado; but, being requested to speak by our worthy chairman, and as I am deeply interested in the future welfare of this organization, 1 will make an effort to say a few words in behalf of the Rocky Mountain Coal-Mining Institute, which we are about to organize. As 1 understand it, it is the object and intent of this organization not merely to assemble occasionally for the purpose of discussing various problems in coal-mining, and thus to obtain the best possible results in economic operations, but its especial duty will be to devise ways and means whereby accidents in coal mines will be minimized. Figuratively speaking. we are about to plant a tree in the State House of Colorado, and desire its roots and branches to extend over Wyoming on the north, New Mexico on the south. and Utah on the west. So we expect this tree to bear fruit over a vast area. We must remember that the planting of a tree, even in good soil, is useless unless we cultivate, prune, and nurture its development. If we will not do so, the tree will not bear the desired fruit. So, in order to make the Rocky Mountain Institute a success, we must not only start it off in good shape, but we must keep on adding to its strength in various ways, so that it will become a known factor and a recognized power over this broad territory. In other coal-mining states and countries of the world much has been accomplished through similar organizations to reduce loss of life among men engaged in the production of coal, and there is no reason why our institute in the West should not be equally useful and attain the same results. There are many ways by which this organization can be made beneficial to the men engaged, in various capacities, in handling the "dusky diamond." I will endeavor to confine my brief remarks to the necessity of a crusade of an educational nature among three classes of men that are directly and indirectly connected with coal mines. First-We need to educate ouselves. It is amazing how few of our number, holding positions of trust, and having charge of men in and around coal mines, are conversant with our brief mining laws and cognizant of our duties in enforcing them. Going down the line to our company men and miners, I think 1 can safely say that not over 5 per cent of them are in any way familiar with the statutes that have been enacted for their especial benefit and protection. This condition, 1 think, can be, and ought to be, remedied, and. if thoroughly done, the effect in reducing loss of life will soon become apparent. Now, to reach the officers or men in charge I consider an easy matter, which could be accomplished in this manner: Have our general managers or owners of coal properties issue a circular, compelling every superintendent pit boss, fire boss, or other officer having charge of men, to send them a copy of the mining law in their own handwriting every six months. But to come to the masses engaged in coal-mining. to get these men of various nationalities educated in the mining law, will be a difficult task indeed; but I think I have an original scheme that is practical, and which, if put in operation, would work wonders in educating our company men and miners. This plan is as follows: Have every school in every coal-mining district devote one-half hour on Friday afternoon after school hours to the familiarizing of all male pupils between the ages of twelve and sixteen years with the contents of our laws governing coal mines. At the end of each term of school, award small prizes- say, $5, $3, and $2- to those that are best posted, the principal of the school to be the sole adjudicator. Now, someone may say that this is causing extra work to our teachers, with no compensation. In this respect, I will vouch that 95 percent of our teachers will do this work gratis, providing we can show them the benefit of the system. If we go a step farther, and put an incentive before our teachers, probably it would be a good scheme to award a prize-say, $20 or more-for the best set of practical amendments to our mining laws complied by any school and its teachers, judges of the amendment to be members of this Institute and appointed by the President. There is no denying the fact that we need to be educated, and that we should adopt some system that will encourage a knowledge of practical and scientific mining amoung our present forces and the rising generation. Newspaper Men Need Educating Second-Our reporters and press agents need to

Jan 1, 1987

Jan 1, 1924

By Warren C. Bracewell

At your request, am submitting to you several suggestions for the amendment of our safety code which you felt should be kept up to date. These suggestions are the individual opinions of the several members of the Committee who have expressed (heir wishes to me in the form of letters. I am particularly indebted to Mr. Daniel Harrington, Mr. Wm. Littlejohn, Mr. Warren Bracewell, Mr. James Dalrymple and Mr. Hugh McLeod. Would recommend the following amendments Section 1. Wherever practical trolley wires should be securely hung to roof or timbers at a distance of not less than five feet and not more than six and one-half feet above rail and six inches to one side. Spacing of hangers should be from 20 to 25 feet apart. (Adopted.) Section 2. 500 volts D. C. should not be allowed in any installations. Trolley wires should not carry a voltage of more than 250 D. C. nominal voltage. (Referred back.) Pumps, mining machines and other small machinery units where A. C. power is used should not carry a voltage of more than 220. Large units, such as pumps, motor generator sets and hoists, may use a volt- age of 2,200. When power cables to operate same are of armored construction, cables should be securely buried at all crossings, on haulage-ways or where men travel. (Adopted.) Section. 4. Where power lines pass through door frames or stop- pings they should be properly insulated with porcelain compound or rubber tubing. Wherever men get on or off man-trips in vicinity of trolley wires same should be secure1y guarded and should also be protected with a cut- out switch, same to be pulled before men are allowed to get on or off trips. (Adopted.)

Jan 1, 1926

Jan 1, 1924

PRESIDENT WHITESIDE: I am sure we are very grateful indeed for this very interesting talk that Mr. McClure has given us. If anyone has any questions to ask Mr. McClure I am sure he will be glad to answer them at this time. MR. WEITZEL: I want to ask Mr. McClure whether in the instance he described by-passing the drier, whether there was any rest period between the crusher and the furnace, whether the powdered coal that was not dry was allowed to rest in the pipe or was blown directly into combustion chambers. MR. McCLURE: Yes, it moved directly; there might have been some difference had we given it an opportunity to rest. We just had to get in and get out so as not to interfere with operations. MR. WEITZEL: Your idea is, even though you did use a high moisture lignite, you could store it under water if you eliminated surface moisture later. That is a new idea to me; I always had thought that you had to reduce the moisture down under 2 per cent, and to try to store it with anything more than that, any higher moisture, you would have to break the stuff loose again, as it gets so hard it won't move. MR. McCLURE: It might develop I am absolutely wrong; I am just saying what I observed, and I may have had some unusual condition, which I did not detect; something may actually develop which will make my statement of drying lignite entirely wrong. It was quite a surprise to me, surprise to every-

Jan 1, 1923

WILLIAM P BALAZ RMCMI PRESIDENT 1990-1991 on behalf of the RMCMI Board of Directors and Officers of The Rocky Mountain Coal Mining Institute cordially invites you and your family to attend the 87th Regular Meeting and Convention to be held June 30, July 1 & 2, 1991 Keystone Resort, Colorado

Jan 1, 1990

By R. Dawson Hall

*This paper was not read as it arrived too late. In the beginning of the last century "cottage industry" gave way to the factory system, and at present manufacturing that was once performed in homes is done wholly in factories. Division of labor came into being at the same time. In earlier years rarely more than a half-dozen men worked at the home of the master workman. Each group performed all the labor involved in changing crude material to the finished article, and many of the masters in a cottage industry themselves took the raw material and converted it by their own efforts into a highly specialized product ready for the market. Mining has in a degree moved in the same direction. But for the most part every man still has his own room. Pick miners in many places get their cars at the room neck, push them to the face, undercut their coal, drill their shot-holes, load and fire them, complete the breaking down of their coal, fill their cars, push them to the entry and also test their roof for weak spots, examine for gas, timber their rooms, bail them out and lay their own track. Mining is still in a way a "cottage" industry, only the cottage is a room in the mines instead- of a home. The men who gather the coal and take it to the tipple are in a measure like the middlemen who went from cottage to cottage and gathered the product of the owners or "masters", to use the term then prevalent. The change in ordinary industry from old methods to new came with machinery. The machines then introduced needed power for their operation, and distribution of power from house to house was too great a task for those times. Power could not readily be taken to machinery where water power only was available. It was necessary for the machinery and its workers to go to the power. Nor when steam was harnessed could every cottage have its steam engine. Compressed air and electricity had not arrived, and con-

Jan 1, 1922

Saturday, June 28 A pre-convention activity kicking off the 93rd RMCMI meeting was a Saturday evening June 28 reception for all Mine Rescue participants, their convention registered spouses, professional evaluators and RMCMI Board of Directors. This was at Buddy's Run in the Sheraton Steamboat Resort, Colorado. An estimated 100 persons enjoyed the buffet: fresh vegetable erudite with ranch dressing, fresh fruit and cheese displays and silver dollar rolls filled with ham or turkey. Blue golf shirts and red caps and convention packets were distributed to each Mine Rescue team member. Evaluators received red shirts and blue caps during the reception. Meeters and greeters from the Reception Committee wore red RMCMI arm bands and were stationed at strategic hotel spots, answered attendee's questions and gave directions to the registration area. Convention packets were first distributed Saturday afternoon by Julie Cummings and Lorraine McDonald. Sunday, June 29 A 7:30 a.m. shotgun scramble kicked off the golf tourney at the Sheraton course for 145 golfers. Yes, 145! as Lois Egan, President Tom's wife, completed a five-some with Tom and their three sons. A continental breakfast preceded the tourney. Another 65 golfers began play at 1:00 p.m. making this a record number of 210 golfers! Julie Cummings and Loren Linville sold $2,620 worth of $10 mulligans to the golfers with proceeds to the scholarship program. [ ] Both golf tourneys were co-chaired by Dave Mallak and Gordon Merriam who distributed prizes at 4:30 p.m. Monday. Prizes were donated by Amax Coal Sales West, Inc.; Austin Powder Co.; BHP Minerals-Navajo Mine; Bucyrus International, Inc.; Commercial Testing & Engineering Co.; Empire Machinery Co.; Ingersoll Rand; The Jeannot Group, Komatsu Mining Systems; Long-Airdox Co.; Marston Environmental Inc.; MEGA Corp.; The P&M Coal Mining Co.; Scandura, Inc. and TerraMatrix. [ ] RMCMI registration was an all day venture headed by chair Julie Cummings and assisted by Pat Johnson. [ ] Nearly 40 persons met for a Chef Demonstration and wine tasting at the Sheraton at 11:00 a.m. Executive Chef Jacques Wilson prepared broiled achiote shrimp with cantaloupe, grilled duck stuffed blue corn pancakes with herb grained bread and fresh fruit meringues. Wilson shared his recipes with the group and appropriate wines were served with each course, all sampled by the attendees. The chef arranged an impromptu showing of the main kitchen following the demo. [ ]

Jan 1, 1997

By C. B. Huntress

"We have ourselves to blame in the steel industry for our condition." These words were addressed twelve days ago by James A. Farrell, President of the United States Steel Corporation, to his "comrades" at a meeting of the American Iron and Steel Institute. They carry a note of challenge to all industry, and particularly to the coal industry, where they point the way to the pressing need for operators everywhere to get their feet under one table. It is that note which I would stress to all producers. You have yourselves to blame for your condition. True, there are inter-district competition and competition of substitute fuels, but they'll always be with us, more or less, and the only sensible, sane course is to remove the evils within our respective districts, which can be done only by constructive effort along cooperative lines. It's the same story in Alabama, the same in Illinois and elsewhere. The larger number of the men gathered here are at the front, as it were, in the business of mining coal. They are the men who are doing a remarkable operating job. And naturally, the sessions of this annual meeting treat of news from the front, of technical problems. But, as in actual warfare, those at the front are often uninformed of developments in the rear. They keep on fighting without fully sensing the significance of a disaster at headquarters. You've played your eighteen holes today and evidenced the efficiency of your technique in the, production of coal. It is not amiss to take advantage of this moment, the nineteenth hole, to ponder over what it's all about. After all, what do improvements in the art of mining mean if business policies engulf you in red ink? To the extent that mechanization is a factor in increased overhead, which in turn increases the pressure to produce regardless of market demand, it only aggravates our troubles unless there is the controlling influence of coordinated effort.

Jan 1, 1931

Jan 1, 1923

CHAIRMAN I. N. BAYLESS: Will you come to order, gentlemen? They told me that you had a very interesting meeting yesterday and a good time last night. Our program is rather long this morning, and I am not going to take up any of your time, as we got started a little late. I will ask Mr. Marchant to make a few announcements. (Announcements.) SECRETARY MARCHANT: I just noticed in this morning's paper a rather serious accident at Hobbs, New Mexico, in which George Kaseman, a former President of the Institute, and a loyal member ever since its organization, was killed. I think that this meeting should go on record and prepare a resolution of condolence, etc., and with your per- mission we will have the Committee on Resolutions do that. I assume that will be all right. CHAIRMAN BAYLESS: Our first paper and discussion this morning will be Education of the Miner, by Thomas Allen, Chief Coal Mine Inspector of Colorado. Mr. Allen.

Jan 1, 1938

The first session of the Rocky Mountain Coal Mining Institute was called to order by Past President, R. R. Williams, Jr., Manager of Mines, The Colorado Fuel and Iron Corporation, Pueblo, Colorado, who introduced the President, W. K. Dennison, Jr., Superintendent, Raton Operations, Kaiser Steel Corporation, Raton, New Mexico. His speech of welcome to the Institute follows: The President's Remarks Guests and Members of the Rocky Mountain Coal Mining Institute: It is my privilege and pleasure to welcome you to the 56th regular meeting of the Institute. A look at the program will show that the various chairmen and their committees, headed by General Chairman A. Z. Dimitroff, have been hard at work to prepare a program which I am sure you will find to be informative as well as entertaining. I think that a special vote of thanks and appreciation is due Glenn Sorensen, who stepped in to head the Program Committee when Clint Cornelius moved from this area.

Jan 1, 1960

The meeting was called to order in the Albany hotel, with the President, John B. Marks, in the chair. At the request of the Secretary, the chairman brought before the Institute the question of a reorganization of the finances and system of conducting the Institute, explaining that, although the Institute is in good financial shape and the meetings are of great interest and are attended by a large and serious minded membership, the Institute is getting so large and of such value to the operators that it should be taken over by the operators, conducted by some man elected by and from the operators, and its financing put on a definite basis. At present, it was explained, the Secretary, not a coal operator nor interested in operating, arranges and conducts all meetings and finances the Institute from three sources: the very low dues, the advertisements published in the Proceedings, and by direct solicitation of contributions among the supply and machinery houses. Mr. James Dalrymple spoke vigorously on the need of having the Institute entirely free from any taint of commercialism. Upon motion by W. D. Brennan, seconded, a committee of four, one to represent each State, was voted. Appointment of this Committee was deferred temporarily. The reading of the minutes of the previous meeting was then called for, but upon statement of the Secretary, that the minutes were published in Volume 2 of the 1925 Proceedings, they were dispensed with. The Secretary-Treasurer's report was made informally inasmuch as the last report had not yet been audited. In brief, the Secretary reported on a cost of approximately $1,600.00 a year to publish and send out the Proceedings, an expense of approximately $1,800.00 to care for the Denver meeting, and an expense of approximately $1,200.00 to care for the summer meeting. The Secretary's salary of $25.00 a month has not been collected, but a certain portion of this has been used for stenographic expense. The Secretary asked for expression from the floor regarding the advisability of continuing the publication on the present elaborate plan. Mr. Gibson, Mr. Marks, Mr. Whiteside, Mr. Littlejohn, Mr. Dick and others spoke positively on the value of the present form of the Proceedings, and urged that no changes be attempted in this. Upon motion of Holbrook Mahn, it was moved, seconded and carried that E. H. Weitzel and W. F. Murray be made life members of the Institute in recognition of their services in the organization of the Institute, placing them with Floyd W. Parsons as the original organizers of the Institute. Mr. Murray spoke briefly in acknowledgment of the courtesy. Mr. Weitzel's words are included in the discussion A letter was read from George B. Pryde relative to the present emblem of the Institute. Upon motion by Mr. C. W. Sinclair, seconded by Mr. Dalrymple, it was moved that the consideration of a new emblem be

Jan 1, 1926

By Vincent R. Bovino

The future of coal mining is bright - only if we realize and then manage as though we are competing in the world marketplace. Accept it or not, our market is global. We tend to think our problems are caused by the uncontrolled foreign production of coal, and the uncontrolled drop in coal prices. I submit that our problem is not the world pricing structure - part of our problem is our on-site cost structure - our productivity. We are the world's best at getting out the tons - that is, production. Most mine managers thrive on that. What is in serious doubt is our productivity - our ability to produce tons of coal in a cost effective manner. Please think about the difference: ? Production is tons of coal. ? Producitivity is decreasing the cost per ton of coal. Our future is bright, only if we can increase our productivity by trying different and new ways to manage our businesses and our people. Unlike the easy successes during the 60's and 70's, success in the decades ahead will depend on our ability to achieve greater levels of productivity. If mining and other old line smoke stack industries are experiencing difficult times in 1986, three years into an economic recovery, what will happen when the economy cycles downward? Any operation can achieve unlimited productivity by developing the resources within their employees. As an industry, we have harvested the

Jan 1, 1986