only Anaconda, Anex, and Home stake are on the list. Of the oil companies, only Kerr-McGee and Getty. Of the chemical companies, only Union Carbide. The rest of us were new names to the mining industry, some with no previous experience and some like Utah Construction & Mining with limited experience. Perhaps this can be explained when we remember that the uranium industry was born of the Government's desire to bring into being a domestic source of uranium for the production of atomic weapons. In 1949 any peacetime uses for uranium seemed nebulous and remote, a vague hope for the future. The incentives that the Government offered were seductive to some and spurned by others, and I suppose that it's fair to say the richer companies insisted on matrimony and rejected the Government's advances and those of poorer purses but braver hearts succumbed to temptation and yielded to a temporary dalliance. Our company's uranium activities in Wyoming are a case in point. We were an old established company in heavy construction but relative newcomers to mining. We were operating relatively small iron ore mines in Utah and British Columbia, a small coking coal mine in Arkansas, and had recently taken an interest in a larger iron ore venture in Peru and a copper mine in Arizona. We also believed implicitly in the future of the energy market, and wanted to participate in it. We had neither the capital nor the skills to engage in petroleum or natural gas, but we saw our oppor-tunities in uranium and in coal in the Western United States. We set -2-