October 27, 1959 MR. REARWIN, LADIES AND GENTLEMEN: At the outset let me express my sincere appreciation for the pleasure and the privilege of being with you this evening. I have had some opportunity to view at close quarters the work of the San Francisco Junior Chamber of Commerce and certainly the organization merits great credit for the significant contribution that it has made consistently over the years to the growth and development of the San Francisco Bay Area. As Mr. Rearwin has indicated in his gracious introduction, I once served as President of the Senior Chamber of Commerce. When the invitation to speak here this evening was extended by telephone to me, I understood that the subject matter was to be the Utah Construction & Mining Co., but when I received the printed program the subject was indicated as "Construction, An Industry for Investment". The President of the Senior Chamber of Commerce spends the year of his incumbency worrying that he will be asked to make still another speech, and past presidents of the Chamber spend their declining years worrying why they are so seldom asked to make speeches any more. Finally they get so worried they don't even bother to get the titles of the speeches straight when an attractive invitation is offered. Experience should have taught me to be on guard on this score, for this has happened to me before, A couple of years ago the President of the American Management Association telephoned me from New York and asked me to deliver a paper, saying that the speaker had to be someone from an organization that had shown imagination and ingenuity in the field of finance. The compliment was too much for me to resist and when I was