Search Documents

By E. R. Gibson

It is quite generally conceded that the coal mining industry is among the most progressive in the adoption of modern and efficient equipment and mining methods, but most woefully antiquated in many respects in the matter of systematic accounting. The cause of this condition is problematical, but is usually thought to be due to false economy. We realize that those who do not understand accounts, or like accounting, are inclined to be disdainful of accounts and statistics, and to under-estimate the benefits derived from the expense and labor involved in proper accounting. The business that is run without a proper accounting system is subject to haphazard financing and courts disaster. Furthermore, the operator who disposes of his product without due regard to the requirements of the industry as a whole, as reflected in the cost of doing business, is an unfair competitor. No one will deny that the possible production of coal in the United States is much in excess of the demand. While it is true there is an occasional shortage in certain localities, it is due to temporary abnormal conditions which are overcome in a short period of time, when the mines are again obliged to take idle time, and herein lies the danger, not alone to the operator who neglects to keep informed as to operating costs; but to his competitor as well. While physical conditions and operating methods differ materially, accounting methods must likewise differ in some respects, but irrespective of how the result may be obtained, a true statement of cost is absolutely essential. Daily cost statements may be preferred by some, but have proven unsatisfactory, generally speaking, because of variation in production as well as in both labor and material expense from day to day; therefore, we will confine our attention to a monthly cost statement. To be most effective, operating cost statements should be prepared and submitted to the officers as soon after the close of the month's busi¬ness as possible, to enable them to remedy any defects in the operations that might be discovered by an analysis thereof. Opinions differ materially with respect to the most efficient method of compiling and the distribution of labor and material. The writer believes that a time book which provides space in which to enter the number of hours worked each day of the month by each employe, together with distribution thereof, is the most accurate, simple and complete. This record will show the service performed by an employe each day of the month and the account to which same is properly chargeable. This, of course, refers only to the employe working by the-day or month. While there can be but little said concerning the compiling and distribution of miners' wages, as the weighman's bulletin used almost

Jan 1, 1921

By J. A. Bullington

Mr. Chairman and Gentlemen: Some of you men may know who are familiar with what we have been doing in the C. F. & I. the last three years, that we have revamped our entire method of cost accounting from the pit bosses' report through to the final report of the president. The basic ideas involved in our cost system are not ours. They were given us by one of the best management and industrial engineering concerns in the country-at least they have that reputation. All I can do now is to try to pass on to you some of the ideas we have from various sources and the methods we have used in teaching those ideas to our coal men on cost accounting. This will not be a technical paper. I tried to put it in language we could all understand, and I hope I will be talking the same language that you gentlemen talk when you think about the cost of your coal in your own mines. Accounting of all kinds is classed as overhead expense, and as overhead expense we must justify its cost by the service it gives the rest of the organization. That brings us up to the problem of making the cost department pay its own way, just the same as the power plant has to pay its own way, and we have gotten away from the old idea of cost accounting in that it is sufficient within itself. The cost sheets are only so good as they enable the operating man to reduce his costs. The cost sheets are only just so much work for the cost department, and if they do not help the operating man to control his costs, we figure that is so much work wasted. The cost department works for the operating department.

Jan 1, 1931

By C. Arthur Carlson

"It now becomes my privilege and duty to call to order this fifty-first meeting of the Rocky Mountain Coal Mining Institute. "I bid you a hearty welcome and I know by your attendance at these meetings you will gain a great deal of valuable information, as well as have a wonderful time. "We have been very ably represented by Mr. John H. Emrick as General Chairman, assisted by our good friend Mr. Fred W. Whiteside, our secretary and treasurer. I know they have worked very hard in selecting the various committees, who in turn - by the looks of our program have gone all out to prepare material that should be of great interest to us. I trust we will be attentive to the subjects presented and freely enter into the discussions, also relating our problems and experiences. I am sure this will prove both profitable and beneficial to all present. "The main purpose of these conventions is to become acquainted with each other, renew old acquaintances, talk over our problems, and have a little fun and relaxation from our every day routine. "Let us not forget the manufacturers, the distributors, the operators, or the press because it is through their splendid support that this organization is successful. "Since our last meeting we have gained many new members, whom we especially welcome. We are sorry to have lost a few. I am mindful, at this time, of two very good members from my home state who have passed away, Walter Wetzel, a former president of this institute, and Lee Alger, at the time of his death, Vice-President from Utah. We also lost very recently our assistant Secretary-Treasurer, Everret Davis. These men contributed a great deal to the institute and the coal industry in general. I am sure they are greatly missed by all who knew them."

Jan 1, 1955

By J. J. Welch

The thought and practices in the field of accounting in the past two or three years are undergoing far-reaching changes, but more important than this is the changing viewpoint of business managers toward accounting reports and statistics. Accounting is no longer considered a necessary burden of business, for progressive managers and operating officials everywhere look upon it as a service. A service of supplying operating men and executives with information on their affairs which enables closer and more effective supervision, to the end that business may be conducted more satisfactorily and more profitably. This service is the real function of accounting in business management. Of the many treatises on accounting published in recent years, the great majority deal with principles and procedures, and were written purely from the accountant's point of view, thus they appeal, and are of interest, chiefly to accountants. Recently, however, the interest displayed by the operating man, be he president, general manager, superintendent, mine foreman or potential mine executive, calls upon the accounting department to serve him in furnishing him with figures showing the financial position and economic progress daily. In order to effectively render this service the necessary co-operation between management, operating and accounting -forces must exist. Satisfactory services may be developed only on a basis of close contact and pulling together between these departments. It is not a one-man job, the responsibilities necessarily rest on all. This co-operation contemplates:

Jan 1, 1932

By D. A. Stout

Mr. Chairman and Members of the Rocky Mountain Coal Mining Institute: Your Secretary has asked me to write upon a subject' which is a most interesting one, and which has a very wide scope. In view of the great need for further decreasing costs at its coal mines, the Colorado Fuel and Iron Company began early in 1924 to experiment with methods of mining which had not previously been. tried out at its mines, and which were selected because of the greater possibilities for the concentration of the work, better grouping of workmen, and increased tonnage per workman, with a resultant increased efficiency, better supervision, and lowered costs. Because of the great competition of the day, means and methods must be provided by which fewer mines can be made to produce larger tonnages and at a lower cost. Western physical conditions are such as to make our problems far more complicated and not so easy of solution as compared to many of the eastern fields where conditions are more favorable for the operation of the mines. The dry condition of our Western mines on account of a relatively low humidity, and with additional gaseous conditions, makes the problem still more difficult to solve. A study of new methods was necessary before adoption, and this was particularly true of the method of extracting the coal. Where mechanical means are used, particularly in the coking coal mines of this state, due consideration must be given to the type, and machines or conveyors should not be installed solely on the basis of their performance elsewhere, without the knowledge of local influencing factors. In trying out the newer methods of extraction at our mines, very careful consideration has been given to the question of safety and the adoption of any new methods must provide adequate means of protection to employes, and be approved by' the State Coal Mine Inspector. In any large industry there are a few outstanding operating costs, and usually the leading ones in their order are labor cost, material cost, and power cost. The things which we, hope to accomplish: 1. Reduce labor costs. 2. Reduce material costs. 3. Reduce power costs by the con 4. Reduce the amount of powder used per ton of coal produced. 5. Increase the lump percentage (particularly at the domestic mines). 6. Reduce accidents and annual compensation payment. 7. Reduce haulage costs. 8. Reduce cost for track work. 9. Reduce cost for timber and timbering, and increase the recovery of timber at a considerable additional saving. 10. Reduce the brushing costs. 11. Reduce the amount of rock hauled to the outside. 12. Reduce the cost for drainage. 13. Reduce the cost for ventilating. 14. Reduce cost of inspection and supervision. 15. Reduce the cost for shot firing. 16. Reduction of number of working places. 17. Grouping of men with increased sociability. 18. Increased tonnage per man. 19. Reduction in total number men employed. In the consideration of the methods used and now working successfully, there were three points which were considered outstanding, to make them wholly successful: ventilation, roof control, and transportation. For making the experiments, those mines were selected where conditions

Jan 1, 1925

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

"Guests and Members of the Rocky Mountain Coal Mining Institute: "It gives me a great deal of pleasure to call the Fifty-Second regular meeting to order this morning. "I think that you will agree with me that we have an excellent program planned for the next three days, comprising various interesting and educational subjects by authors of prominence, which will be of keen interest to all of us in the coal industry. "The Program Committee, chairmanned by John Peperakis, has done an excellent job in securing this very splendid talent for our convention. "I would like to say a word as to the, condition of the coal industry in our part of the country as well as elsewhere. I believe we can look at it with more optimism than in the past several years, particularly in the state of Colorado, with which I am more familiar. "Annual coal production in Colorado gradually dropped from around 12 million tons during the years of World War I to as low as 8 million tons during the last war, and to less than 3 million tons in the year of 1954. We believe that it touched bottom that year, as in 1955 the state production went up again to nearly 3,400,000 tons, equivalent to an increase of 15%. As you know, the national increase in bituminous coal production for the year of 1955 was roughly 2000 over 1954. "The national increase for the first two months of 1956 over the same period of 1955 is approximately 2100. Colorado's production is running around 1000 over the comparable period of last year, and the 5 states represented by our Institute came up with a nice increase in 1955 over 1954 of 1000. "Figures on the increase so, far in 1956 for this group of states are not readily available, but I fully believe that. our industry locally, as well as nationally, is now starting out on a steady rise despite the fanfare of nuclear energy and its more glamorous competitor, solar energy. Many authorities tell us that real competition from these sources is a long way off and that the atomic energy program will consume far more coal than is displaced by nuclear power. "I do not mean to infer that we coal people are out of the woods by a long way' so far as holding and regaining markets, for our coal. The captive operators, which are well represented here, have not lost their market for coking coal, since coke is still a necessary

Jan 1, 1956

By Ted Schwinden

It's my pleasure to welcome the Rocky Mountain Coal Institute to Montana. Now that you've ended a 74 year history of meeting outside our borders, I hope you'll be back more often. Even if I can't convince you to come back before 2060, when another 74 years will be up, I'm confident the Kalispell and Flathead Lake area will do the persuading for me. In recent weeks, I've made a number of speeches around the state pointing out just how wrong the revenue projections in Montana's state government made in April of '85 were when we came to April of '86. Since the middle of this month, Montana's legislators have been in Helena struggling to balance a state budget that, by the end of fiscal year '87, threatened to be some $88 million in the red. Other western states reliant on natural resource and agricultural economies have found themselves caught in the same deflationary spiral. The "window of opportunity" I proposed and the 1985 Montana Legislature passed, couldn't have been opened at a more difficult time. What was envisioned as an incentive to expand Montana's coal production, and our tax base, ran aground on low oil prices and excess hydroelectric power. De- spite the one-third severance tax rebate offered on new coal production, year-to-date figures published in the June 2nd Coal Week show that production in Montana is down almost 10 per- cent from last year. Again, we're not alone. Production in Wyoming is down 8 percent and in North Dakota, it has dropped 13 percent. An over- all 3 percent production decline in western states looks even worse when contrasted against a 12 percent increase for your eastern competitors. Montana's "window of opportunity" had the potential to be a significant signal to your industry. That potential was quickly tempered by the inability of Arab nations to stabilize world energy prices. If any of us had forgotten, the last twelve months have reminded western states that the well-being of our natural resource economies has a tremendous impact on the ability of all levels of government to provide services. The past year has also driven home that in the world of business and in the business of the world, risk-taking is still the name of the game. The Western Governors recognize the problems facing this industry - and our states - and we're prepared to fight for the future of western coal. In the past two decades, legitimate environmental concerns have created a vast body of new legislation affecting coal producers. The industry has been required to meet new reclamation standards - tough regulations relating to ground water, air quality and wildlife habitat. To the industry's credit, coal companies have hired professionals with the technical know-how to do it right. Rather than considering reclamation laws to be an unreasonable burden, today's coal company is more likely to view its reclamation efforts as a source of corporate pride. In a sense, the industry and the agencies which regulate it have matured together . . . although at times OSM is reluctant to admit that either of us capable of or willing to play by the rules. Certainly some abuses exist and OSM's oversight has been helpful in ensuring parity between those states willing to comply and those that would rather defy federal law. Nonetheless, penalizing the more modem and responsible western coal industry for abuses that occur elsewhere is both unfair and counterproductive. Federal penalties range from "cruel and unusual" reporting requirements to the proposed electricity tax that would effectively force utilities and ratepayers who have already met the sulphur emission standards to subsidize those who have dodged their cleanup responsibilities. As a member of the Alliance for Acid Rain Control, I have joined corporate leaders, academicians, environmental representa-

Jan 1, 1986

Earl W. Baker W. P. Bigler Lyman Fearn Leslie H. Johnson V. O. Murray Max C. Scheble Fred L. Smith who left the world better for their having lived in it . . .

Jan 1, 1986

[Proceedings VOL. II. PART VI. CONTENTS PAGE A Few of the Adverse Conditions Encountered in Mining Coal in the Utah Fields, by J. B. Forrester ..185 Growth of the Electric Power System of the Union Pacific Coal Company at Rock Springs, Wyoming, by D. C. McKeehan ?.. 193 Screening and Preparing Coal at the Tipple, by Benedict Shubart ?.199 Coal Mine Accounting, by E. R. Gibson List of Members ?.211]

Jan 1, 1921

By Kevin Whipkey

How is Improvement Being Achieved ? Section Equipment ?Mine Layout/Projections ? Work Schedule ? Maintenance ? Management

Jan 1, 2005

By John McNeil

Mr. President, and Members of the Rocky Mountain Coal-Mining Institute-Gentlemen : I appreciate the distinction of addressing this representative body of men upon a subject that lies so close to the heart of each one of us, and which is one of the principal objects of our gathering here today, in this beautiful city-so beautiful, with its grand and glorious mountains looking down upon us, that its charm makes us almost forget the men we left toiling "underneath the ground." But that object-the safeguarding of our coal-miners, who spend the greater part of their lives delving in the bowels of the earth-is the cause of our gathering from the "rock-ribbed" States of Utah, Wyoming, New Mexico, and Colorado. And, as I look about me, my eye lights on the face of many an old-time friend- on some with whom I have walked for more than thirty years; so, whatever the merit of this little talk of mine, it cannot be said that it was made by a "tenderfoot." You must not for a moment think that I shall attempt the impossible task of completely covering so comprehensive a subject as '(Accidents in Coal Mines,' and take much more time than has been allotted me, or would be advisable for me to consume. So I shall confine myself, as briefly as possible, to some of the most common causes of accidents, and the possible means by which these disasters may be diminished. For a great many years the cause of mine accidents and their prevention have been the subject of grave thought and investigation by both national and state governments. As early as 1835 Great Britain appointed a royal commission of talented men, possessing special knowledge in the conduct of coal- mining, also eminent authorities in science and its application, to search into these matters. Since 1835 there has been a succession of such commissions of research, at frequent intervals, in all countries wherever coal has

Jan 1, 1913

The thirtieth regular meeting of the Rocky Mountain Coal Mining Institute was called to order at 11: 20 o'clock A. M., Wednesday, June 3, 1931, President G. A. Kaseman presiding: PRESIDENT KASEMAN spoke in part as follows: I have in mind to say a few words of welcome to the coal operators, but I am afraid that the words I might have said would be hardly appropriate, because I believe the coal operators are in the minority today. It demonstrates to my mind something that has been running through it for some little time. When the hard times came on a year ago, we thought we were going to get over it rather lightly. I recall at this time a year ago we thought that the depression was about at an end. The National Administration from Washington told us we had reached bottom and things were going to perk up, and for a few weeks or maybe a month or more there was a sort of optimism throughout the country. I had been East, and when I re- turned to Albuquerque I said to my friends and associates that things were getting better in the East and that they would soon be better out here and we will not have felt the hard times very much. But I have learned differently since. I have learned that hard times are no respecter of communities or corporations, or persons, or activities, and that we all suffer alike. On that account we find that our Institute is suffering just the same as other activities, whether national, state, local, social, or what- ever it may be. Our attendance is light or, that account. We all know when times are hard we have to stay at home and watch things closer than when they are good. And when they are good we feel that the machine will run of its own momentum and in this way we can get away to see what is going on in the world. When times are hard we have to stay at home and look after everything from day to day and hour to hour.

Jan 1, 1931

By P. F. Patterson

It is a well established fact that 60 per cent of all accidents in coal mines occur from falls of roof and coal at or in the proximity of the working face. Notwithstanding that this is well known, and has been frequently discussed by mining men, this seems to be the irreducible minimum. It is even said by those in a position to know that the percentage stated is increasing. With this, information before us it would seem that not enough attention is being given to close supervision at the working face, and until this is done we may expect to continue experiencing an increase in the accidents in this area. No workman generally feels that it is more important to finish loading a car of coal than to set a timber for protection, and many accidents happen from this source, not from a lack of knowledge of the dangerous conditions existing, but negligence in taking remedies necessary to remove the danger. It is true that nearly all state laws require the mine foreman or his assistant to visit each working face every day, but with the constantly changing conditions on account of the advance of the working faces, these daily visits may be entirely inadequate to discover possible dangers and prevent accidents. The obvious remedy then is closer and more systematic inspection and supervision of the working faces. Many accidents are caused in mines on account of not enough clearance between the rib and track or between timber and track. On all main haulage ways. there should be a space of at least 30 inches between the rib and track, or timber and track, and on all rooms not less than two feet should be left between the track and upright timbers.. A great deal has been said and written with regard to systematic timbering. We doubt very much the feasibility of adopting any standard of timbering that would be suitable for all roof conditions, and any such system in our opinion would not tend to cause a decrease in the number of accidents. The proper place to put up a prop, regardless of whether it conforms to any established system, is under a piece of loose roof. No habit is becoming more prevalent among miners and other mine workers than wearing gloves, principally flimsy canvas gloves, which afford no protection to the wearers and are the direct cause of many hand injuries. If gloves must be worn, and no doubt they will be as the habit has become well established, then they should be made from some heavy material and should fit the hands fairly snug.

Jan 1, 1923

Good Morning. Thank you for your kind welcome, Lyle and thank you for having me here today. I spoke at the fall meeting of the Utah state RMCMI in Price and it's nice to be invited back. I can see by the program that you have two great days of interesting and informative meetings, including the mine rescue team exhibition and the safety recognition award presentations. As you all know, I am here standing in for Dave Lauriski, who is in China with Secretary of Labor Chao. As you also know, Utah is near and dear to his heart - and so is the Rocky Mountain Coal Mining Institute. I want to assure you Dave would be here if it were at all possible. But it is my good fortune that I could come in his place. We have made great progress as an Agency thanks to the hard work and dedication of MSHA's employees. But we are always looking for new ways to solve problems and continue to send more miners home safe and healthy every day. And we have been working on some great ways to do that, including thinking strategically. During my presentation today I'm going to talk about where the Agency is in terms of our transformation to the MSHA of the 21st century, a little bit about how we got to be where we are, and then describe our roadmap to the future state. And I'm going to focus on the significance of our plan and the planning process to demonstrate the implication for the mining industry. Former President Dwight Eisenhower once said, "In preparing for battle I have always found that plans are useless, but planning is indispensable." Now I do like Ike, but I would have to take exception to the first part of the sentence. I have found plans and the planning process to be indispensable - the plan to give me a roadmap to my goal, and the process to focus me on the steps I must take to get there. We all know that having a strategic plan makes the difference between success and failure. We've seen it time and time again, in business, in our lives - and in government: Having a strategic plan is crucial to success. And the process of making the strategic plan is crucial to its success. Putting together a workable strategic plan - a good roadmap - that will successfully lead you to your goals requires a thorough, careful process that takes into account each factor that you may encounter along your way to success, as well as those with whom you will travel. In order to talk about our current plan I want to take you back to three years ago, when Dave Lauriski went to Washington to lead MSHA. He knew that change was in the air. Dave was confirmed as Assistant Secretary with 30-plus years experience in the coal mining industry, and more than 20 years of experience in dealing with

Jan 1, 2004

By Jim Gunderson

Jan 1, 2004

By James F. Howe

Modern civilization is centered around a small group of essential occupations, the three principal ones which are agriculture, mining and manufacturing. Agriculture might be called the most important of the three, as it has to do directly with the supply of food for the human race. Mining, however, is certainly next in importance, as it furnishes the supply of fuel and many of the raw materials used in manufacturing. Without mining, modern machinery and many industrial operations would be impossible. Mining takes advantage of the, natural resources in fuel and minerals that lie underneath the surface of mother earth, and while at times some of these metals are hard to find and mines come and go, mining must continue to increase. Mining is no longer a haphazard proposition but one calling for careful study and complete plans of operation for years to come. The shafts, power houses, rock dump crusher, concentrator, and other machinery must be located advantageously in order to enable owners to make a profit. Many tons of rock or mineral must be mined frequently to get one ton of concentrated metallic ore or metal itself. Economy in mining is just as essential as it is in manufacturing. The mining engineer of today is called upon to utilize every branch of engineering, and not only, is a wide: range of knowledge required, but ingenuity to meet the unusual conditions which are constantly arising from week to week. On account of the wide variety of information required by the mining engineer, some things with which he is in almost daily contact may be passed over with only a small amount of attention, provided everything is going well, in order that time and attention may be focused on what might be termed the more important features of mining operations. Because competition has become keener than ever, owing to overproduction at times of certain minerals, it becomes a matter of first, importance to understand as far as possible the factors which enter into the cost of production of any mineral which may be mined. In such times of overproduction, the high cost mine is forced to close down while the low cost mine may, if desired, be kept running constantly. In keeping a cost record, wire rope on account of its high first cost 19 coming into the lime light, and a comparison of records of one mine with another is now frequently made in order to see whether the rope service is satisfactory or not. Every rope maker, on the other hand, is interested in seeing that the rope which he produces gives the maximum possible return for the money invested. Modern mining owes much of its success to the use of wire rope for hoisting materials from beneath the surface of the ground. Deep mining would be impossible without the use of wire rope as a means of hoisting. A study, therefore, of rope problems in mining work and a discussion of the points which are beneficial to maximum life will enable the mining engineer, manager, or superintendent to keep his costs down to the minimum while at the same time he provides a suitable and sufficient safety factor for operations at all times. Mining might be defined as the extraction of coal, metallic ores, or minerals from below the surface of the ground. This definition does not cover what is known as, open pit operations or quarrying but covers the

Jan 1, 1922

Jan 1, 1931

Presiding was Robert E. Murray. The first speaker was Frank L. Natta, Administrative Manager-Trapper Mine, Utah International, Inc., Craig, Colorado. Subject - "Long Term Coal Contracts." Mr. Natta graduated in 1973 from Colorado School of Mines with a B.S. in Metalurgical Engineering and a M.S. in Mineral Economics. Since 1974, he has been employed by Utah International having spent 5 years in San Francisco as Senior Market Analyst. In this capacity he was responsible for market development efforts for Utah's U. S. coal reserves. Recently, he was transferred to Craig, Colorado, as Administrative Manager of Utah's Trapper Mine. In this position, he is responsible for purchasing, warehousing, accounting and sales contract administration. The second speaker was Brucks Mitchell, President, Human Resources Management, Inc. Richardson, Texas. Subject-"Making Unions Unnecessary in the Coal Industry." Mr. Mitchell has a B.A. degree in English-Oklahoma State University. M.B.A. degree in Organizational Behavior-Southern Methodist University. Ph.D Candidate - Organizational Behavior - North Texas State University. Mr. Mitchell formed an Association of Consultants to perform assignments in Industrial Psychology and Human Resources Management. Particular emphasis has been to establish policies and procedures to make labor unions unnecessary. He has been consultant to various industrial and municipal organizations.

Jan 1, 1979

[Following is the Financial Report of the Treasurer from May 22, 1981 to May 21, 1982: RECEIPTS Cash on hand May 22, 1981 $21,815.81 Dues $ 6,800.00 Registrations 19,250.00 Banquet, luncheons, Buffet and Steak Fry Tickets $44,335.00 Less adjustment 831.68 43,503.32 Bank Interest and Certificate Interest 7,747.49 77,300.81 $99,116.62 DISBURSEMENTS Convention Expense - 1981 48,600.37 Convention Expense - 1982 2,146.65 Stamps & Stamped Envelopes 1,251.48 Stationery & Office Expense 1,259.22 Salary of Secretary-Treasurer 5,040.18 Social Security & Employment Tax 772.20 Proceedings $ 9,703.42 Less Advertising 2,290.00 7,413.42 Certificate Purchase 10,000.00 76,483.52 Cash on hand May 21, 1982 22,633.10 United Bank of Denver Savings Account 15,000.00 Money Market Certificates 40,000.00 Total Assets $77,633.10 AUGUSTA WHITESIDE Secretary-Treasurer Approved by Auditing Committee: Paul Hronich, Chairman Robert Anderson Allen E. Duncan Donald P. Huckeby Richard C. Mullins June 29, 1982]

Jan 1, 1982