ASBESTOS

Vol. 2 APRIL, 1921 No. 10

FURNISHING A COMMON VANTAGE GROUND WHERE THOSE INTERESTED IN ASBESTOS AND MAGNESIA MAY MEET FOR DISCUSSION

Published by

SECRETARIAL SERVICE 71 Bulletin Building Philadelphia, Pa.

The Seal that Signifies “‘Asbestos Products of the Highest Quality’’

HE suecess of GARCO Asbestos Packings, Auto-

mobile Specialties and Textiles is the result of a

fixed policy to produce goods of the highest character only.

Among the better known GARCO Asbestos products are:

Asbestos Automo- bile Specialties

Packings Locomotive, Throttle and Air Pump Pack-

GENERAL ASBESTOS & RUBBER CO.

ings High Pressure Piston Packings

Valve Stem Packing Medium and Low Pressure Packings Perfect Valve Rings Flax Packings

High, Low and Medi- um Pressure Sheet Packings

Gaskets and Gasket- ing Material Asbestos Wick and Rope

Brake Lining Transmission Lining for Ford's" Cone Clutch and Disc Clutch Facings Asbestos Spark Plug Yarn

Asbestos Textiles Cloth Yarn Cord Carded Fibre Braided Tubing

Main Office and Factories, Charleston, S. C.

BRANCHES AND COMPLETE STOCK

58 Warren St., New York 311 Water St., Pittsburg

14 North Franklin St.

Chicago

April

———~ ASBESTOS

Asbestos Products

Asbestos Paper

Asbestos Rollboard

Asbestos Millboard

Asbestos Cements

Asbestos Roofings

Asbestos Magnesia Pipe Coverings Asbestos Air Cell Pipe Coverings

A pipe covering for every condition from the highest steam pressure to the coldest water line.

Norristown Magnesia and

Asbestos Co.

Norristown -- -+- Pennsylvania

April, 1921 Page One

ASBESTOS =

Asbestos and Mineral Corporation

1819 Broadway NEW YORK CITY

The only organization of its kind in existence, and the world’s largest dealers in Asbestos Crude and Fibre.

Sole selling agents for

CANADIAN CRUDE ASBESTOS & FIBRE

CORPORATION Limited. Thetford Mines, Canada

BRANCHES, in all large Cities

Correspondence in any Language

Write for our New Catalogue just issued

We are now occupying our new quarters 12th floor, GOTHAM NATIONAL BANK Building. Our Museum, the finest in exist- ence, is well worth a visit. We would be pleased to welcome our friends.

Wi<acinoe

Rectang a

——

——

Page Two

April, 19

HAM exist- e our

ASBESTOS...

A MONTHLY MARKET JOURNAL——"

Devoted to the Interests of the Asbestos and Magnesia Industries

Secretarial Service - - Publisher C. J. Stover - - - Editor

Publishing Office

721 Bulletin Building Philadelphia, - - Penna.

London Office - 2nd Floor, 86-88 Wardour St., W. I.

Vol. 2 APRIL 1921 No. 10

CONTENTS

Page The Asbestos Built Up Roof - - - 5 Market Conditions - . - 11 “Run As Fast As You Can to Stay Where You Are.” 12 Bomb Wrecks Offices of Asbestos Plant - - 15 Editorial Comment - + - 19 Jacob A, Jacobs - * - - 23

Stick-To-Itiveness Exercised by Big Men - - How Much Should Advertisers Spend? - - Contractors and Distributors Page - ° Ehret’s Plant Faces Isolation - - Canadian Asbestos Production for 1920 - Taxes or Tariff—Which? - - - Asbestos in Australia - . Asbestos Deposits on Indian Reservations May Now Be

we CO CO CO CO COO © Mito

- ¢

De veloped - 45 Conditions in Various M:z arkets. - - - 47 Asbestos Production in Canada 49 More Facts About Russia and Her Asbestos Production - 51 Diatomaceous Earth - 52 Imports and Exports of As sbestos . - - 54 News of General Interest - - - 57 News of the Industry - - - - 59 Afterthoughts - - - 66

pril, 1921

March. 1921

SUBSCRIPTION PRICE

U. S. anp CANADA . - - $1.00 per YEAR ForEIGN COUNTRIES - - 2.00 * » SINGLE CoPrIEes .20 Eacu

Copyright 1921, Secretarial Service.

Page Three

ASBESTOS

Company after explosion of

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Page Four

————-ASBESTOS -——

yril, 192

The Asbestos Built Up Roof

By O. A. BIGLER

Among the many fields in which the use of asbestos is increasing, the built-up roofing field is extremely important. In the first place, the roof is the most essential part of the building. Many shelters are constructed which do not re- quire side walls, but every building must have a roof. The roof is subject to much harder wear than any other exposed surface, and the average building owner gives it the least attention, as a rule. The reason is obvious; generally the roof is not thought of until it begins to leak.

Since so much is expected of the roof and so little care is given it, it is not strange that roofing manufacturers are continually trying to produce roofings which will give the best results with the least attention. One of the compara- tively recent entries into the roofing field is the asbestos built-up roof. It consists of a number of layers of asphalt saturated asbestos paper, and the application is carried on in exactly the same manner as used with ordinary tarred felt and pitch built-up roofing, excepting that the layers are bonded together with hot asphalt instead of coal tar pitch. The felt is shipped to the job in rolls and the roof is generally applied by the same contractor who would apply built-up tarred roofing, or, as it is generally called, gravel or slag roofing.

There are, however, many essential differences between asbestos built-up roofing and gravel or slag roofing and they all acerue to the advantage of the former. The as- phalt used to saturate the asbestos felt and the asphalt pitch used to combine the layers has a much higher melting point than the coal tar pitch used to saturate and combine the layers of built-up tarred roofing. Therefore, we find that the asbestos built-up roof is not affected by the sum- mer’s heat, because owing to the high melting point of the asphalt, the materials do not soften and run. On the other hand, the asphalt is far more flexible at low temperatures than is coal tar pitch ; consequently, the winter season does not have any tendency to make the asbestos built-up roof brittle and cause breaks.

It will be seen from the foregoing that the asphalt is

April, 1927 Page Five

ASBESTOS

a very important factor in determining the merit of any asbestos built-up roof. The truth of this is proved by the fact that nearly all of the manufacturers of asbestos built- up roofing materials were originally manufacturers of as- phalt roofings, many of them now producing both lines. These manufacturers have recognized the excellence of as- bestos as the foundation of the fabric used in built-up roofs and they have added to its merits the results of their years of experience in the production of roofing asphalts. Asbestos, being a mineral, is not affected by exposure and hence does not need a protective coating of gravel or slag to keep the elements from attacking it. Therefore, we do not find gravel or slag used on asbestos built-up roofing.

MANCO ASPHALT FINISH

CBE

FIBEROCK FELT

This euts down the cost of application, lessens the weight on the building, and largely eliminates stopped-up down spouts. The asbestos built-up roof is fire-retardant to a high degree. It is practically impossible for a building s0 protected to be set afire by flames or burning brands coming in contact with the roof. In case of fire from within the building, the roof being practically a non-combustible blanket, retards the spread of the fire instead of feeding it.

The fabric of any built-up roof is the strength of the roof. Therefore, if the fabric is affected in a detrimental way by outside influences, the roof is not only weakened, but frequently rendered useless. Asbestos is the one fabric which is least affected and therefore we find the asbests built-up roof giving satisfaction when exposed to cond: tions which would speedily result in the destruction of other materals. Acid fumes, gases and similar destructive agencies are best withstood by it, and that is why asbests April, 1921

Page Sir

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il, 1921 &

ASBESTOS

AMERICAN ASBESTOS COMPANY

Manufacturers of

Asbestos Textiles NORRISTOWN, PA., U.S. A.

Headquarters for

YARNS, CLOTH, TAPES, FIBRES, BRAKE LININGS AND TEXTILES GENERALLY

————_

April, 1921

Page Seven

ASBESTOS

built-up roofing is particularly valuable for railroad round- houses, chemical plants and like structures. Finally, as- bestos roofing can be applied on steep surfaces as well as flat surfaces which is not true of tar built-up roofing. Many modern buildings use the saw-tooth form of roof construc- tion which means a succession of relatively short, steep roof surfaces, and while an asbestos built-up roof gives perfect satisfaction, a roof formed of low melting point bitumen coated with gravel or slag would not do so.

So much, then, for the construction and advantages of the asbestos built-up roof. The next thing to consider is what steps are being taken to build up the latent demand for this material and what are the production facilities. On the latter point the situation is good. Several large manufacturers with plants located at strategic points in the United States are engaged in the production of asbestos saturated felts, and roofing asphalts. These manufacturers all have their individual specifications, most of which how- ever, are quite similar as to the number of plies, weights of felts, amount of asphalt, ete. There has been some discus- sion as to the advisability of adopting a standard specifica- tion, or several of them, to fit different types of construe- tion, and have all the producers recommend this specifica- tion and manufacture materials to fit it. This would no doubt be a forward step and one which would benefit the industry a great deal. However, the present manufactur- ing facilities are ample to take care of the development of the business for a considerable period to come.

So far as developing the field is concerned, here again the manufacturers are working individually. It would seem that some co-operative work could be carried on to excel- lent advantage to acquaint the publie generally, as well a the architectural and contracting fields with the many aé- vantages of asbestos built-up roofing, and possibly some such effort will be made. The roofing field is one in whieh the ‘‘survival of the fittest’’ is the rule and just as wood shingles and metal roofings have been greatly encroached upon during the last decade by composition shingles and ready-to-lay roofings, so the opportunity is at hand for a bestos built-up roofing to take its rightful place.

Page Eight April, 192

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1, 192!

a————— ASBESTOS

AAA AT

HIGH GRADE ASBESTOS TEXTILES

Da

mr

Asbestos Fibre Spinning Company

North Wales, Penna.

MAT 04: TN

April, 1921 Page Nine

=——=ASBES TOS

ASBESTOS WORKS

Magnesia Factory, Redwood City, Cal.

85% Magnesia Pipe and Boiler Coverings. Asbestos Air Cell and Minoecel Pipe and Heater

Asbestos and Magnesia Plastic Cements.

High Temperature Furnace Linings.

Asbestos High Pressure Rod Packings.

Asbestos Braided or Twisted Valve Stem Pack-

Aspestos Gaskets. Theatre Curtains—Gloves.

Braiders of Square Flax Packings, and Makers of a general line of

Ask for General Catalogue Number Six.

PLANT RUBBER

Main Office and Rubber Factory

San Francisco, California

Manufacturers of

Coverings.

ings.

ALSO

Hydraulic and Low Pressure Packings; Moulded Rubber Valves, Gaskets and Rings.

Page Ten

April, 1921

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ASBESTOS

Market Conditions

Raw Materials.

No worthwhile change in the mining fields can be noted. Production is going forward in a desultory way; at least one mine is shut down; and all the operators are fully aware of the futility of forcing production under present conditions.

The uninformed labor under the delusion that to ob- tain Asbestos from Mother Earth, it is necessary only to dig it out and put it on the ears. On the contrary every bit of Asbestos is most painstakingly separated from the useless rock and the labor required is a very large part of the cost. Then the cost of grinding, screening and bagging plus warehousing and the cost of money (interest) runs the whole cost up to considerable proportions.

Consolation is had by the operators from the fact that if the rock is left in the ground no harm comes to it and it can be taken out when there is a market for it. Of course, a certain amount of production must go on in or- der that mining labor will not drift away and be unavail- able when demand returns.

The operators treat workers with full consideration and keep under way as actively as possible.

Shipments have been in larger volume. Prices are firm and will doubtless stay so for the reason that, with one exception, the mines have all contracted for the 1921 output.

Rhodesian chrysotile has established a place in this country second only to Canadian in the manufacture of yarns.

The supply of Rhodesian for 1921 is limited be- cause of reduced production and the fact that all pros- pective output is sold.

The supply of Blue African seems plentiful but, as yet, the crocidolites have not been accepted on a parity with the chrysotiles.

Manufactured Goods

Markets for all classes of finished goods continue

dull. The only exception to this may be in high pressure

April, 1921 Page Eleven

ASBESTOS

steam packings where trade appears fairly good.

Prices generally rule about as of the past several months, recessions of an unimportant amount being made by one or two manufacturers, doubtless due to a commen- dable desire to keep plants working, partially, at least.

Reliable information from Detroit is to the effect that the automobile trade is resuming activity and expects a good season. The rubber industry is picking up fast and, while many complain of slackness in the building trades, a study of the figures of the past ten years, convinces us that building is far from inactive.

Every underlying condition points to early indus- trial improvement and the Asbestos trades should be up and at it to get their full share.

If every man in the Asbestos Industry would go out and dig for business, promote new uses and really hustle things would be different within ten days.

We will never have good business if we are content to sit by and wait for other industries to do it.

What are you doing?

**Run As Fast As You Can To Stay Where You Are’”’

Mr. Curtis, of the Curtis Publishing Company, sug- gests the above as a title for an editorial at this time.

‘*All my business life’’ he said, ‘‘I have spent more money for advertising whenever a business slump came along than in normal times, and if I didn’t get ahead in the race, | kept from slipping back and was in a position to shoot ahead of my competitors the moment conditions changed.’’

Logical? Of course it is.

Strong men breast the current. Weak ones are ear- ried down the stream by it.

If you have goods to sell, tell the people. They'll buy if the goods are right and the price right.

‘*Run as fast as you can to stay where you are’’ will pay big even if it doesn’t pay immediate dividends.

It pays to advertise.

Page Twelve April, 1921

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921

ASBESTOS

== SS SS

E. SCHAAF--REGELMAN

220 Broadway New York, N. Y.

American, Canadian, African

Asbestos--Crude, Fibre

Owning and operating the only producing mines in Arizona, not controlled by Textile Manufac-

turers.

Arizona Asbestos is entirely free from Iron

European Headoffice:

Y, WARMOESSTRAAT 76 & Y AMSTERDAM S ? HoLuANb. y

April, 1921 Page Thirteen

ASBESTOS

Canadian Crude Asbestos and Fibre Corporation

LIMITED

THETFORD MINES, CANADA

CRUDES FIBRES SAND

Sole Selling Agents For Maple Leaf Asbestos Co., Limited Thetford Mines, CANADA

Asbestos Crude & Fibre Mining Corp., Limited Thetford Mines

For prices, apply to ASBESTOS & MINERAL CORPORATION

1819 Broadway NEW YORK

Page Fourteen

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April, 1921

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‘ASBESTOS

Bomb Wrecks Offices of Asbestos Plant

On March 9th, about ten o’clock P. M., the inhabitants of Norristown, Penna., were startled by a heavy explosion. The explosion occurred in the office building, adjoining the plant of the Norristown Magnesia & Asbestos Company, shattered windows in houses several blocks away and was distinctly felt at a distance of five miles or more.

The cause of the explosion, while not definitely known, is supposed to have been a bomb, planted on or near the desk of A. K. Burgstresser, Superintendent of the Plant. Fortunately no one was in the building, the watchman having made his rounds a short time before and finding everything in order.

The officials of the Company are puzzled to know the reason for the planting of the bomb. They have had no

labor troubles and while the plant has been partially shut

April, 1921 Page Fifteen

ASBESTOS

Hrll Ashesios Mines

THETFORD MINES Quebec, Canada

MINES OFFICE at Thetford Mines, P. Q., Canada

and SALES OFFICE at Ambler, Penna., U.S. A.

Miners and Shippers of

Ashestus

CRUDE AND FIBRE OWNERS

The Keasbey & Mattison Company

Ambler, Penna. U.S. A.

Page Sixteen April, 1921

it, 1921

ASBESTOS

down for repairs and due to lack of business, no complaints have been heard.

Other theories for the cause of the explosion aside from the bomb have been advanced but fail to hold water. It was thought possible that robbery of the safes had been contemplated and the thieves might have accidentally dropped the explosive. Since the safes are intact and no dead bodies found in the wreckage however, this theory has been given up.

Another thought was that the steam testing device in the basement of the building might have caused the ex- plosion, but after the wreckage had been cleared away the device was found to be in perfect condition.

Whatever the cause, the office is in a fine mess as will be seen by the pictures on pages four and _ fifteen. Office furniture has been practically demolished, files scat- tered, and all soaked with water from the sprinkler sys- tem. The loss is estimated at about $15,000.

Temporary office quarters have been taken by the Com- pany in the business section of Norristown.

WANTED—High Grade Salesman, live wire and thoroly experienced in Asbestos Textile line. Address N-2, “AS- BESTOS,” 721 Bulletin Bldg., Philadelphia, Pa.

LESS THAN CARLOADS

PROMPT SHIPMENTS

PennsyLvaniA AssBestos Co. | John A. Hovey, President

NORTH WALES, PA. |

April, 1921 Page Seventeen

ASBESTOS

Page Fighteen

NOAA

SA A a

The

Asbestos Corporation

of America

BURLINGTON, VERMONT

Chrysotile Asbestos

American Mines Crudes Fibres

Sand

For Prices or Graded Samples Apply to Burlington Office

NN ANAS OS aa

April, 1921

1921

ASBESTOS

Editorial Comment

Packing manufacturers and salesmen would do well to study the claims being made for certain types of metallic packings.

In one case a pamphlet describing metallic packings says that the only way to prevent stuffing box friction is to have the box packed with a plentifully lubricated packing. Then, in the next few paragraphs, it is truly stated that suitable and efficient boxes have no friction.

Next the statement is made that the packing must carry its own lubricant and then—that the only way to have a packing lubricated is to pass the lubrication through the packing.

This particular metallic packing is claimed to have self lubricating qualities.

On the other hand, it is generally admitted that no packing is made or can be made which, under the action of heat, can render lubrication of itself or its contents, after having been submitted to high temperature.

The real lubrication of packing in a gland is supplied by the oil saturated steam which is fed into the cylinders.

Fibre packings will absorb, as stated by our metallic friend, steam and oil; and, after all, this is exactly what is wanted above everything else. The great advantage of fibre packing is, that it contains more open spaces in which steam and oil may be absorbed and contained, than does any other type of packing, metallic or otherwise.

Analysis of the specious arguments exployed by pat- ented or trademarked brands of metallic packings, will re- sult in the more intelligent selling of fibre packings by their manufacturers and handlers.

Undoubtedly there is a logical market for metallic packings but where such packings undertake to encroach upon the equally logical market for fibre packings the fibre people should take notice.

Doubtless every reader of this publication has been observing the work being done by the American Federation of Labor Bureau at Washington.

The platform adopted by the American Federation of

April, 1921 Page Nineteen

ASBESTOS

Labor, and reproduced in all the newspapers and principal magazines, is one which every American citizen should make it his business to know something about.

We have no quarrel with either labor or capital, but if any group or convention of business men had the temerity to undertake the putting thru of a bill of rights such as has been prepared by the American Federation of Labor, public opinion would annihilate the proposal.

The good judgment and common horse sense of the American people will never permit any class, be it labor, agriculture, business, clergy, or whatnot, to dominate con- ditions to the disadvantage of all other classes

It is interesting to note in this bill of rights that it is desired to exempt labor from all the anti-trust, conspiracy and other laws which the rest of the American Public must abide by.

The American Federation of Labor has just as much chance of getting by with this latest piece of propaganda as had the celluloid dog that chased the Asbestos cat thru Hades.

Judge Wilfred Bolster, of the Supreme Court of Massachusetts, was asked to act as an arbitrator between Publishers and Union Printers in Boston.

Clearly stating his early leaning toward the Union eause, he sets forth in a written statement his reasons for declining to serve, closing with,—

‘I will not arbitrate your demand for a minimum wage until you supplement it with an agreement for mini- mum production. I deny your right as against the public to set up half an issue for settlement. I deny the right of the publishers to join issue with you on your one-sided de- mand as you have formulated it. I will not stultify myself by saying what is a fair share for you to take out of the community wealth as wages when there is no stipulation as to what you will put back by your labor. I regret the de- lay which this conclusion will cause, but it is a delay of your own making. Since the conclusion rests upon funda- mentals which cannot be waived or altered, it is fairer to state it now than at the end of a protracted series of meet- ings.’’

Page Twenty April, 1921

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il, 1921

(

ASBESTOS

White Chrysotile.

Fort Victoria,

Blue Crocidolite White Tremolite Brown Amosite

Kearsney Buildings, Durban, Natal.

Ready to consider prompt contracts for several grades.

promptly to cabled enquiries.

a ~

ASBES TO

The Victoria District Industries, Ltd.

Southern Rhodesia. Are Mine Owners, operators, and dealers.

Now open to consider “forward contracts.”

African Base Metals Export Co., Ltd.

Are Mine Owners, operators aad dealers.

and

CABLES:—Both companies use Broomhall’s Imperial Combination, and Bentley’s Codes, and will respond

S

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FIBR

for ward

ie

April, 1921

Page Twenty-one

a——— A § BES TOS

Jacob A. Jacobs

Page Twenty-two April, 19!

ril, 1921

—— ASBESTOS

Jacob A. Jacobs

Jacob A. Jacobs is well known in Asbestos Mining circles.

His first experience in the mining industry, however, was connected with the Kerr Lake Silver Property, which he purchased in 1905. He tells us that he purchased this claim after personally inspecting it, that being the first mining claim he had ever visited.

The price of the Kerr Lake property was $30,000, $5000 of which was paid in 30 days, the balance of $25,000 being due in 90 days. The productiveness of this mine is shown by the fact that the $25,000 was paid at the end of ninety days from the earnings of the mine. In 1906 Mr. Jacobs sold this property for $3,000,000 and in 1908 pur- chased the Jacobs Mine (Asbestos).

Mr. Jacobs was the original President and General Man- ager of the Jacobs Asbestos Mining Company of Thetford, but sold his interest in this Company in 1919 to Sir Mor- timer Davis, the operating company being known as Con- solidated Asbestos Limited.

In 1920 Mr. Jacobs purchased the Boston Mine at East Broughton, operating it under the name Asbestos Mines Limited. An aerial tramway, described in previous issues of ASBESTOS is now being completed at this mine.

While the Boston Mine gives promise of large produc- tion, it contains no Crude. It was therefore natural for Mr. Jacobs to look around for a property containing Crude and the Black Lake Asbestos & Chrome Company appealed to him as offering large possibilities for development.

The recent struggle for control of the Black Lake As- bestos & Chrome Company has excited quite a bit of inter- est in Asbestos Mining and Manufacturing circles.

Originally, it was Mr. Jacobs’ intention to purchase the Black Lake Asbestos & Chrome Company, acquiring control by the purchase of sufficient stock in the open mar- ket. He soon found however, that the Asbestos Corpora- tion of Canada had the same end in view. Naturally, the competition of the two for the stock increased the price and both buyers finally decided, very sensibly, to get to- gether and endeavor to make some basis of settlement.

Consequently a contract was drawn up between Mr.

April, 1921 Page Twenty-three

ASBESTOS

THE ORIGINATORS and LARGEST MANUFACTURERS of

85% Magnesia

Sectional Coverings

Asbestos Textiles, Paper Millboards, etc.

> =I

£

oe

VY 1G

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“IF IT’S MADE OF ASBESTOS WE’ VE GOT IT’’

Keasbey & Mattison Company AMBLER, PENNA.

Page Twenty-four April, 1921

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ASBESTOS

Jacobs and the Asbestos Corporation, in which each named the price at which they would sell. Finally, Mr. Jacobs purchased sufficient stock from the Asbestos Corporation to give him control, Messrs. Anado, Newman and Schinasi, of New York City, being associated with him in the trans- action.

It is Mr. Jacobs’ intention to confine himself to the mining operations, and the New York interests will take eare of the distribution end.

Naturally, there is the thought of the amalgamation of Asbestos Mines, Limited with the Black Lake Asbestos & Chrome Company. Plans for the development of these two mines, with the assistance of the engineers who have been employed, promise active development along construec- tive lines; in fact the program is a very ambitious one.

The success previously attained by Mr. Jacobs indi- eates a promising future for the two properties.

Canadian South African Russian and Crude Rhodesian Asbestos and Blue as soon as Fib and Railway Traffic 1ores White will be Asbestos Asbestos Opened

Nederlandsche Asbest Maatschappy -- ROTTERDAM --

Tel. Address Post Box 518 A. B. Pe Edition NEDAM ROTTERDAM Western Union

Liebers Code

April, 1921 Page Twenty-five

ASBESTOS

Dominion Distribution of Asbestos Products and Mechanical Rubber Goods

Covers the

Industrial, Marine, Mill,

Railroad, Mine, Automehite

Trades

throughout the United States and every country in the civilized world.

Dominion Asbestos and Rubber

Corporation 154 Nassau Street, New York Albany Indianapolis Richmond Baltimore Los Angeles San Francisco Cincinnati Norfolk Seattle Detroit Philadelphia St. Louis Pittsburgh

The Hague, Holland

Page Twenty-six

April, 1921

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ASBESTOS = ° ° Stick-To-Itiveness Exercised by Bio Men ‘““We Shall Reap If We Faint Not’’ Reprinted from “Forbes.”

Diamonds are chunks of coal that stuck to their job.

If it has taken millions of years to develop mankind, must we fret if it takes us a few years to rise above the rank and file of mankind?

Must we quit if we don’t get there quickly?

Note this: There is not one major figure in American financial, industrial or commercial life today under forty. Not one.

And what of the past?

The original J. P. Morgan, though born rich and rear- ed as an international banker, was sixty before he did his greatest work and nearer seventy before Wall Street, in its hour of trouble, acknowledged him as its undisputed leader.

Harriman at fifty was an obseure broker with a pen- chant for railroading.

Hill’s hair was gray before he became Empire Build- er of the Northwest.

At fifty Woodrow Wilson was a little-known college professor.

Washington was no youngster when he won the im- mortal title of ‘‘Father of His Country.’’

Lineoln midway through life was in the coal, not the diamond class, and was fifty-two before he loomed up as Presidential calibre. He was fifty-four when he made his imperishable address at Gettysburg.

But all were stickers. They conceived their goal and pressed on courageously, unflinchingly, unswervingly, hurdling more obstacles than you or I are ever likely to meet.

Most people show more persistency in their _ first twelve months than they show later in twelve years; did they not, they never would have learned to walk.

Robert the Bruce six times failed to free Scotland, but a struggling spider on the wall which climbed up success- fully after six falls revived his courage, and at the seventh attempt Bruce won a crown and undying glory.

April, 1921

Page Twenty-seven

ASBESTOS

Charles M. Schwab was