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of our good friends and fellow -members: J. R. Gemmill J. J. Walsh J. F. Gieble M. O. Danford John E. Havens J. E. Edgeworth R. S. Rubincam Phil Lloyd E. J. Raddatz who left the world better for their having lived in it.

Jan 1, 1934

At the Annual Meeting of the RMCMI Board of Directors held June 29, 1985, the following amendments to the corporation bylaws Article III were made: Section 2. Advisory Board. There shall be an Advisory Board of Directors which shall be com- posed of all former presidents of the corporation and of the unincorporated association, also known as The Rocky Mountain Coal Mining Institute, of which the corporation is the successor. The Advisory Board shall periodically review the philosophy and policies of the corporation and make recommendations concerning the same to the Board of Directors. The Advisory Board shall hold an annual meeting at the same place as and immediately pre- ceding the annual meeting of the members in each year and written notice stating the place, day, and hour of the meeting shall be given or mailed to each member of the Advisory Board at least thirty days prior to the date fixed for such annual meeting. The annual meeting of the Advisory Board shall be for the purpose of electing a chairman from among its members and the person so elected chairman shall also serve as a member of the Board of Directors of the corporation. The Advisory Board shall meet at such other times and conduct its affairs in such a manner as it shall determine from time to time by resolution. Section 4. Regular Meetings. A regular meeting of the Board of Directors shall be held immediately following the annual meeting of the members, at the site of the annual meeting of the members, the day and time to be fixed by the Board of Directors at its annual meeting immediately pre- ceding the annual meeting of the members in each year, without the necessity of any other or advance notice. Such regular meeting of the Board of Directors shall be for the purpose of considering committee appointments, and for the transaction of such other business as may come before the meeting. A regular meeting of the Board of Directors shall also be held in the Fall of each year following the annual meeting of the members and written notice stating the place day and hour of the meeting shall be given or mailed each member of the Board of Directors at least thirty days prior to the date fixed for such regular meeting. Such Fall regular meeting of the Board of Directors shall be for the purpose of receiving the treasurer's annual financial report of the previous fiscal year as reviewed and approved by the auditor, to take action on the budget, and for the transaction of such other business as may come before the meeting. Section 8. Standing Committees. The Board of Directors may create by resolution adopted by a majority of the entire Board of Directors, a Bylaws and Resolutions Committee, a Nominating Committee, a Finance Committee, and one or more other committees each of which shall consist of two or more directors and which shall have and may exercise such authority in the management of the corporation as shall be provided in such resolution or in these bylaws. Section 9. Ad Hoc committees. The Board of Directors from time to time may by resolution create a Membership Committee, a Scholarship Committee, an Education Committee, various convention committees, and one or more other committees each of which shall consist of members of the corporation and which shall have and may exercise such authority, other than in connection with the management of the corporation, as the Board of Directors may determine. MINUTES of the Rocky Mountain Coal Mining Institute 81 st Member Annual Business Meeting July 2, 1985 The 81st Annual Business Meeting of the mem¬bers of The Rocky Mountain Coal Mining Institute was called to order by the president, Charles W. Margolf at 1:35 p.m. Tuesday, July 2, 1985 in the Windom Peak Room of the Tamarron Resort near Durango, Colorado. Thirty members were present and a quorum was established. It was moved by Bill Balaz, seconded and car¬ried to dispense with the reading of the minutes as these were published on pages 67 thru 77 of the 1984 issue of the Proceedings. The chair called for reports of the various com¬mittees and these reports will be placed on file in the RMCMI Office. Bylaws and Resolutions. Chairman Loren V. Linville reported that the Board of Directors had adopted changes to Article III, Sections 2, 4, 8 and 9 calling for clarification of Ad Hoc and Standing Committees as well as setting forth a purpose for the Advisory Board meetings and stating a time for an annual meeting. He further reported that the Board had passed three resolutions: (One) Noting the passing of these members since the last conven¬tion - Einar M. Arentzen, Gerhardt A. Benne¬witz, Claude P. Heiner, Raymond A. Johnson, Vard H. Johnson, P. T. Schonstrom, Augusta F. Whiteside and Edward Wiemann; (Two) Of appreciation to the officers, chairmen and their commit-

Jan 1, 1985

Profiled below are the eight RMCMI 1999 Scholarship Award winners. Seven of the eight attended the 95th Regular Meeting and convention at Crested Butte, Colorado in late June. Each spoke during the Scholarship Awards Monday luncheon and shared their goals with attendees. In addition to receiving a $1,500 tuition credit, thanks to the Patrons of the Institute annual funding of scholarships, each received recognition at the luncheon with a brass plaque signifying this honor. The winners are guests of the Institute Sunday through Tuesday and have an incredible opportunity to meet many in the coal industry who could be potential employers. The state vice presidents host the winners and pay for their travel and hotel expenses. This is a continuing scholarship and may be renewed for tuition credit again in the senior year if they remain a full time student and if recommended by the dean of their college or university. A resident from each of the eight member RMCMI states is selected by the Scholarship committee from Board approved institutions. Criteria for these annual awards is that the recipient (1) is a full time sophomore student who will use the tuition credit the junior year. (2) Be both a U. S. citizen and a legal resident of the member stare. (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. Contributions to this worthwhile project are tax deductible to each individual RMCMI member or his company. Through donations of $100 or more to the Patrons of the Institute, each Patron receives a plaque and a year bar for each additional year contributions are made. These may be directed to RMCMI Patrons, 3000 Youngfield Street, #324, Lakewood, CO 80215-6553. [ ] ARIZONA WINNER Jennifer Jannusch University of Arizona Jennifer is the daughter of Peggy and Larry Jannusch of Phoenix. She graduated from Shadow Mountain High School in the top 15% of her class. She has been on the Dean's List and won the National Collegiate Engineering Award. Jennifer belongs to the Association of Engineering Geologists, SME, Best Buddies, and enjoys running, painting and languages. [ ] COLORADO WINNER Alan S. Maste¬rs Colorado School of ties Alan is the son of Lee and Ellen Masters of Lakewood, Colorado. He graduated from Lakewood High School and has been on the Dean's List at CSM. He resides with his wife, Karen, and children Morgan, Nicole and Scott. Spending twelve years as a mechanic and semi-truck driver, Alan decided to return to school to pursue an engineering degree. Having maintained a 4.0 G.P.A. at Arapahoe Community College, he was accepted at CSM where he continues to excel. He firmly believes that the future of our country will be enhanced by our ability to utilize our natural resources. Alan enjoys time with his family, fishing, water skiing, bowling and reading Tom Clancy or John Grisham novels.

Jan 1, 1999

[Abbott, Jay Tusco, Box 1008, Price, Utah 84501 Abrahamson, Gary W Melroe Melroe Mult. Wheel, 1301 Iowa Ave., Longmont, Colo. 80501 Acre, Lee Roadside Mining Corp., 2684 Carol PI., Grand Junction, Colorado 81501 Adams, Bob Energy Fuels Corp., Box G, Steamboat Springs, Colo. 80477 Adams, David Empire Energy Corp., Box 68, Craig, Colorado 81625 Adams, Dell H Consolidation Coal Co., 924 No. Washington Rd., McMurray, Pa. 15317 Adams, Douglas K General Electric Co., P.O. Box 2331, Denver, Colo. 80201 Adams, E. E Armco Steel Corp., Box 53, Parker, Colorado 80134 Adams, Kenneth L Arch Mineral Corp., 33 Carnation, Belleville, Ill. 62221 Adams, Martin R Energy Research & Develop. Adm., 20 Massachusetts Ave. N.W., Washington, D.C. 20545 Ahlborg, William Joy Mfg. Co., 1911 Denver Club Bldg., 518 - 17th St., Denver, Colo 80202 Albert, Darrell Mine Safety Appliances Co., 400 Penn Center Blvd., Pittsburgh, Pa. 15235 Albrechtsen, Ray H Mountain States Resources Corp., 1399 So. 700 East, Suite 11, Salt Lake City, Utah 84105]

Jan 1, 1977

[HORACE MOSES President Gamerco, New Mexico BENEDICT SHUBART Secretary-Treasurer 521 Boston Bldg., Denver, Colorado ROBT. L. HAIR Vice-President for Colorado VIRGIL M. McKNIGHT Vice-President for New Mexico A. E. GIBSON Vice-President for Utah THOS. FOSTER Vice-President for Wyoming EXECUTIVE BOARD COLORADO: J. B. DICK Walsenburg C. M. BILLINGTON Lafayette NEW MEXICO: W. C. HOLMAN Dawson ROBT. WYPER Gallup UTAH: R. R. KIRKPATRICK Sunnyside GEO. A. SCHULTZ Latuda Wyoming: EDWARD BOTTOMLEY Kleenburn QUINCE RICE Superior]

Jan 1, 1926

Pictured on these pages are the eight RMCMI Scholarship Award Winners for the 1990-1991 year followed by a brief profile. All winners, except John Nixon from Texas, were present as guests of the Institute at the June convention in Keystone, Colorado to receive recognition at the Welcome Session Monday, July 1, 1991. Each state vice president served as the host for the collegiate winner. In addition to receiving a plaque from the Scholarship Chairman, Dr. Donald Gentry, 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. 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 or more, the Patrons of the Institute fund the scholarship program and the various vice presidents contribute the travel expenses to conventions for these outstanding young collegiates. Donations to this worthwhile program may be made payable to RMCMI Scholar- ship and mailed to the RMCMI Office, 3000 Youngfield Street, Suite 324, Lakewood, CO 80215. Profiles of the 1991 Scholarship Winners follow. [ ] Walter Mengel III University of Arizona Tucson, Arizona Walter has attended the Mining Engineering program at University of Arizona since fall, 1990. He is a very diligent student and has recently been selected student mine foreman for the San Xavier Mine. Walter is secretary of the U. of A. AIME Student Chapter and a student member of the AIME Tucson Chapter. His career interests lean towards western coal mining. [ ] Matthew Madden Colorado School of Mines Golden, CO Matt carries a 2.619 cumulative grade point average in the Mining Engineering Department and ranks 194 in a class of 440. He is involved in a number of school activites such as a member of the Society for Mining, Metallurgy and Exploration, Inc., member of the Resident Hall Association, a Admissions Ambassador, and will be a Resident Hall Director for 1991-1992. Matt is also involved in wrestling and received a Colorado School of Mines Athletic Scholarship in 1990.

Jan 1, 1991

By Mike Onsager

Jan 1, 2006

The eighth annual RMCMI Mine Rescue Evaluation was held during the 1999 Institute convention at the Crested Butte Marriott Resort, Colorado. [ ] Elliott Tsosie, Mary Rowell, Janna Aune, Guy Horton, Art Saenz and Bill Balaz were pleased with the 1999 Mine Rescue Program, The Mine Rescue committee is but one of 17 volunteer committees; this one co-chaired by Bill Balaz, Elliott Tsosie and Janna Aune. There were three evaluators, Art Saenz, Western Environmental; Mary Rowell, ProCare and Guy Horton, Horton Rope Rescue. Nine teams participated and brought 89 participants, 26 spouses, nine children and five teens. The teams were BHP LaPlata, BHP Navajo, BHP San Juan, all from Farmington, NM; Bridger Coal Co., Rock Springs, WY; The Coteau Properties Co., Beulah, ND; Northwestern Resources, Jewett, TX; Powder River Coal Co., Gillette, WY; Solvay Minerals, Green River, WY and Western Energy Co., Colstrip, MT. To observe were members from Centralia Mining Co., Centralia, WA. [ ] Evaluators: Mary Rowell, Guy Horton &Art Saenz The three professional evaluators provided challenging scenarios for the Mine Rescue participants on the grounds of the resort property. Some attending convention were alarmed to see stretchers with "victims" and phoned the hotel switchboard to report the catastrophe. Team members had no prior knowledge of what the scenarios might be and derails were provided only as they arrived at the scenario location, with one exception. Seven to ten or more articipants make up each team. Some teams also ring an alternate and team trainer. For identification purposes, the "victims" wore white shirts emblazoned both front and back with a red VICTIM designation. There was a staged demonstration by three response teams who had not previously worked together. This was enacted on the convention floor following a Technical Session meeting attended by about 200 members. Three response teams from BHP's Navajo and San Juan Mines together with Coteau Properties' Freedom Mine provided a demonstration of their response skills. For never having worked together before, they presented a very professional enactment. This is described at length in the Welcome Session copy. Training sessions were held Saturday and Sunday to enable the teams to prepare for the scenarios. A swap meet was Saturday evening for teams to swap hats, shirts, belt buckles, stickers etc. Each participant received a royal blue golf shirt and ivory cap with royal blue bill. Culmination of the Mine Rescue program was a Tuesday morning Awards breakfast when teams were presented with jade acrylic plaques. [ ] Teams participating in the Mine Rescue Evaluation received trophies on Tuesday morning. The captains above represent BHP-La Plata, BHP-Navajo, BHP¬San Juan, Bridger Coal Co., The Coteau Properties Co., Powder River Coal Co., Solvay Minerals, and Western Energy Co. Sponsors who contributed financially to the 1999 Mine Rescue program were Balaz & Associates, CMC, Civil Constructors, Colstrip Electric, Farmington Fire Equipment & Safety, Fisher Safety, Flanders Ellctric Motor Service, Magnum Metals, Richard Palmtag, Rocky Mountain Electric Motors, Sedona Consulting and Western Water Consultants. [ ] Evaluator Art Saenz likes to have the upper hand and will take whatever steps necessary to get it.

Jan 1, 1999

John Chrystal Richard R. Fenner G. D. Grayer Albert M. Keenan C. E. Osborn Stanley C. Shubart George Sumers Cal Witmer Death is not the end, but the beginning, Not the surrender of life, but of earth Not a time for tears ... but faith.

Jan 1, 1982

[WILLIAM LITTLEJOHN President Castle Gate, Utah BENEDICT SHUBART Secretary-Treasurer 521 Boston Bldg., Denver, Colo. .JAMES DALRYMPLE Vice-President for Colorado State Office Bldg., Denver, Colo. HORACE MOSES Vice-President for New Mexico Gamerco, New Mexico .J. B. FORRESTER Vice-President for Utah Hiawatha, Utah P. H. BURNELL Vice-President for Wyoming First National Bank Bldg., Ogden, Utah EXECUTIVE BOARD COLORADO: J. B. DICK Walsenburg R. A. McALLISTER Trinidad NEW MEXICO: W. W. RISDON Albuquerque J. B. MORROW Dawson UTAH: CHAS. LEGER Rolapp R. R. KIRKPATRICK Sunnyside -WYOMING: F. L. McCARTY Rock Springs J. C. RAE Gebo]

Jan 1, 1924

PRESIDENT MARKS: This is a matter, I think, in which we are all very much interested, and I know We will have considerable discussion on the subject. MR. GIBSON: Wouldn't it be a fact, Mr. Trick, if a mine was laid off on the block system, it would require less ventilation, less cubic feet of air per minute, and therefore you would have that much better ventilation by

Jan 1, 1926

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

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

By S. R. DeBoer

A study of Western cities reveals the fact that a city where people make their homes for permanent residence is always a city with, well-shaded avenues, with parks and playgrounds; in other words, a beautiful city. On the other hand, the average city that lacks these qualifications is usually a city of transient population. Many of our Western cities must be classified as such. Their inhabitants live in such a city only to the time that they will be able financially to retire from business and go to one of the other types of cities to live; or until opportunity offers itself for a position or a job in such a city. I believe that our Western coal camps could benefit by this truth. If conditions can be created in the camps that will encourage the workers to settle permanently or for a long time at least in the town, it would greatly aid in stabilizing employment. By the term "workers" I do not mean the pick and shovel men alone, but everybody from the superintendent or the manager down; for the educated part of the population suffers probably greater from a desire for better surroundings than the less educated part. Modern City Planning tries to show the way for more attractive towns; for more practical towns also, and at less expense. The grid-iron system of street planning is slowly being replaced by one that fits the contours of the site. Instead of streets that are cut through the hills and built over the valleys to get practical grades, it tries to show how these streets can be made to fit the ground and produce better traffic lines; greatly more attractive streets; better building sites and lots, and all of this at less expense. A well-planned town of this character should have as its nucleus, a central square around which the main stores and business houses are grouped. The main building of this group should be the church, the community meeting place, city hall or such other buildings of a public or semi-public character, that are imposing enough to add interest to the square. From this central square, streets should be built to radiate out in all directions, more or less like a spider-web. The main lines of these streets should be reserved for traffic purposes and they should be wide, for the town may grow into a city, and they should be direct, connecting the town center with outlying points at the shortest and easiest possible line. Between these radiating streets should be residential streets of narrower width and arranged in such a way that fast through traffic cannot pass over them and make them unsafe and unsanitary for family life. Following up the comparison with the spider-web, the town should have circular streets, encircling the whole town with rings at various distances out, along which circular lines parks should be located. In the West, where the need for shade is so great, the town should surround itself with a belt of forest trees. Such a forest belt would break the winds and shelter the town, and also make the whole town a cozier, nicer place to build a home in. A forest belt of this kind does not necessarily mean a great layout of money. Trees can be planted small and at little cost and a carefully studied irrigation system will make the maintenance cost small. If the town has any places of natural beauty they should be carefully preserved and made accessible. Natural parks of this type will often take the place of the artificial parks of large cities, and at no expense to the community. Playgrounds, a swimming pool, either of concrete or a sanded beach on a lake; a place for all to go skating in winter; a hill for sledding in

Jan 1, 1924

President Robert E. Murray opened the meeting at 9:30 a.m. He called on the Auditing Committee to give its report. Jack Leech read the report and asked that it be approved. A motion was made, seconded and carried. The Resolutions Committee was asked to present its report. Mr. J. F. Ratchye submitted the following: (1) RESOLVED. Whereas, in the year since the last convention of The Rocky Mountain Coal Mining Institute, the Institute and the Coal Mining industry have suffered the loss through death of the services of: James L. Elder William T. Gibbs Julian E. Tobey John H. Plehn NOW, THEREFORE, BE IT RESOLVED, that there be spread upon the minutes of The Rocky Mountain Coal Mining Institute recognition of the passing of these members, who have so greatly contributed to the advancement of the industry, both nationally and in the Rocky Mountain area, and that a copy of this resolution be sent to the next of kin as evidence of the sincere regard and sympathy of the members of the Institute. (2) RESOLVED: that in recognition of faithful service to the coal industry generally, and to this Institute, Life Membership in The Rocky Mountain Coal Mining Institute be hereby con¬ferred upon the following members:

Jan 1, 1979

Jan 1, 1966

By Jason Laumb

Regional Energy Production ?Energy is a globally traded commodity and is influenced by regional and national needs as well as international trends. We can greatly expand energy export from the region. ?Significant opportunities exist for increased coal-based energy production.

Jan 1, 2006

By Wendy Hutchinson

Jan 1, 2007

will be held at COSMOPOLITAN HOTEL DENVER COLORADO June 3,4,5, 1931

Jan 1, 1930

By C. P. Crawford

In the current issue of Link-Belt News is this quotation: "Advancing waves of other people's progress sweep over the unchanging man and wash him out." As we look over the industrial world today we are struck by the many waves which are sweeping over backward industries. Mergers are being consummated in all lines of endeavor. General Motors are making radios and the Bendix Brake Company are making airplanes. Railroads which twenty years ago were called to account by the Federal Government for their efforts to form combinations are today being ordered to combine. But what is of immediate concern to the coal industry is the fact that there is now in existence or in project a total of 3,641 miles of pipe lines to carry natural gas to most of the country's industrial centers. This is the wave of progress which is sweeping toward you and me. If we are to grasp the significance of these many changes, we must widen our vision so that we may learn some- thing from 'the other fellow's experience. The first lesson is that cost of production alone is not a measure of profit. It is an interesting fact that the production of an article represents a definite loss until that article has been sold for a price in excess of its total cost, and the money is in the hands of the producer. If this is true, then the selling price is more important than the production cost.

Jan 1, 1930