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No. 298 - 1951 October 18 COBALT PROCESSING PLANT FOR FREDERICKTOWN , Immediate construction of a treatment plant to recover vital cobalt metal from ore concentrates at the Fredericktown, Missouri properties has been announced, following the signing of a letter of intent with the General Services Administration of the United States Government. The plant, to be ready for production in fourteen to eighteen months, will process fifty tons of concen trates per day. The Company now has a total of ten million pounds of cobalt-nickel concen trates in storage at Fredericktown, in addition to seven million pounds of government-owned roasted concentrates, all available for immediate processing The Company's present mining and milling operations in that area are producing ore concentrates sufficient to sustain continuous operation of the new treatment plant. Development of a new process has made the plant commercially feasible in recovery of highly essential cobalt, now in extremely short supply Also recovered from these concentrates are quantities of nickel and copper The largest use of cobalt metal is as an alloy in special steels`and for permanent magnets. It is also used in tool steels to improve cutting performance at high speeds and extreme heat and for high-temperature refractory steels used in jet engines, gas turbines and turbo--superchargers. the ,,UTnhieted?1^Stlattes Gobveernment to Natuionndearl Laecade.rtificate of necessity9 ge ranted bv HENDERSON PLANT PRODUCES FIRST TITANIUM METAL First actual production of titanium metal at the newly constructed .Henderson, Nevada, plant of Titanium Metals Corporation of . America occurred this week. This company, owned jointly by the Company and Allegheny Ludlum Steel Oorporation, will expand output rapidly until an initial production goal of ten tons per day is reached late next year. This will be equivalent to eight times- the present world production of titanium metal. The Henderson project was announced on August 6, following the signing of a letter of intent by the General Services Administration, am agency of the United States Government. Leases were secured on major components of the $150,000,000 former Basic Magnesium, Inc. plant built by.the Government during World War II, and 151,000,000 kilowatt hours of power were allocated from nearby Hoover (Boulder) and Davis dams by the Colorado River Commission. -over- 0000-NLI-000024821 . STOCKHOLDERS APPROVE THREE-FOR-ONE COMMON STOCK SPLIT Stockholders of the Company have approved a proposal to split the common stock three-for-one. This brings the number of shares outstanding to 10,158,375. The number of shares of common stock authorized was increased from 5,000,000 to 20,000,000, and the par value of the common shares was also changed to $5*00 per share from $10.00. To effect this, there will be transferred to capital stock account all of the present capital surplus of $9,410,244 and $7,520,381 of earned surplus. As of June 30, 1951, the Company's earned surplus amounted to $69,014,346. The two preferred issues, Class A seven per cent cumulative and Class B six per cent cumulative, remain unchanged in amount, but holders of preferred stock now have three times the number of votes per share to which they were formerly entitled. ROBERTS APPOINTED TO NEW POSITION IN BAROID Amos A. Roberts, former manager of the Mid-Continent division has been appointed general sales and service manager for the Baroid Sales Division. Mr. Roberts, a graduate of Oklahoma A & M, joined Baroid in May, 1935, as a field service engineer in the Mid-Continent division. In 1943, he became district manager in the Mid-Continent division. In his new capacity, Mr. Roberts will exercise direct supervision over those divisions and departments of the Baroid Sales Division which are engaged in sales and service of drilling mud products. BOURLAND, KULPACA PROMOTED AT LAREDO Thomas D. Bourland has been appointed comptroller of the Texas Mining and Smelting Division. Mr. Bourland started with the division in January 1948 as industrial accountant and assistant to the comptroller. He was promoted to assistant comptroller in August of the same year. R. L. Kulpaca has been named plant superintendent. He joined the division in January 1949 as shift supervisor and in July of that year he became intermediate metallurgist. Mr. Kulpaca is a graduate of the South Dakota School of Mines. HIERS ELECTED TO ASTM COMMITTEE George 0. Hiers of the Brooklyn research laboratories has been elected to honorary membership in Committee B-2 on Non-ferrous Metals and Alloys of the American Society for Testing Materials.. ATLANTIC PLANT CEASES OPERATION The Atlantic plant of the Atlantic Branch in Brooklyn has been sold to the Consolidated Edison Company and operations moved to the Perth Amboy and Philadelphia plants. In operation since 1845, the plant was engaged in the manufacture of white lead, linseed oil and lead products at various times during its existence, with all production coming to a standstill in August of this year. Equipment has been transferred to Perth Amboy and Philadelphia. -more- 1 0000-NLI-000024822 I -3- R. C. KRUEGER DIES; WAS PACIFIC COAST BRANCH OFFICIAL R. C. Krueger, Bales manager, white lead and oxides, for the Northern Division of the Pacific Coast Branch died recently after a short illness in Seattle. He had been associated with National Lead Company for thirty-three years, joining the sales force in Portland on July 1, 1918. Mr. Krueger was placed in charge of the Portland,- Oregon, warehouse in 1926 and named Portland manager in 1932. He served as Northern Division manager with headquarters in Seattle-from 1932 to 1935, in which year he waa .appointed to the position which he held at the time of his death. Surviving are his wife, Thelma Baldus Krueger; two stepsons, Bruce C. Krueger, Fort Lee, Va., and Ronald G. Krueger, Seattle, and a sister, Mrs. Lj11jn Lakin, San Francisco. E. P. LOUD HONORED BY CITY OF PERTH AMBOY E. P. Loud, former general superintendent of the Perth Amboy plant, has been presented with a scroll honoring him for his work as chairman of the Perth Amboy Defense Council during World War II. The citation to Mr. Loud read: "In recognition.of his sincere efforts, his great labor and his inspiring leadership in rallying.and organizing the citizenry of Perth Amboy for their common defense under the banner of the Perth Amboy. Defense Council. "His method of organizing and conducting the Perth.Amboy Defense Council during the trying war years was an example for other cities to follow and for few, if any, to equal. "Presented in esteem, affection and appreciation by the members of the Perth Amboy Defense Council, who have signed their names in tribute to him in .the year 1951." HUBERT DUNNING,. FORMER ATLANTIC BRANCH EMPLOYEE, DIES Hubert Dunning, who had served as special representative -among the architects of the New York metropolitan area before retiring, died recently at the Towers Hotel in Brooklyn. He was 76 years of age. Mr. Dunning, who had forty years of service with the Atlantic Branch before retiring in 1945, started work as a salesman in 1904. He had served as special representative fir fifteen years. He is survived by his widow. 0000-NLI-000024823