successor outside the company. Bud was only 38 at the time but it soon became obvious that we had the best man for the job right here in our own ranks. So Bud was installed as head of the Mining Division and started up the ladder becoming Executive Vice President, President, and ultimately Chairman of the Board and Chief Executive Officer. His record at every step along the way testifies to the wisdom of the decision. Bud joined the company in 1954 to bring our uranium operations on stream. Ever since he has played a leadership role in virtually all that has transpired as The Utah Construction Company rose from comparative obscurity to become the leading U. S.-headquartered mining company and in the forefront of mining houses the world over. No one has more reason than I do to be indebted to Bud, for I could not have done my job over two decades without him. But in the last ten years he has proven that he can get a superb job done without me. 6.