Feb. 28 1955 WALTER J. MURPHY, Editor
national defense needs may b e best m e t b y private ownership of the synthetic rubber plants. As noted in this issue (page 8 6 2 ) , indications are that Congress will subscribe JL HE long-range significance of the sale of t h e government- t o this view. owned synthetic rubber industry is often overlooked in the details of who may get the plants a n d at w h a t price. In a symposium held in Washington in mid-Feoruary by t h e Chemical Engineers Club of Washington, panel mem- The Spencer A w a r d bers went into the questions of full fair value, monopoly possibilities, the future price of rubber, the status of govern- JDEHTND every news story there is generally an interesting ment research, and other current aspects. Panel members, story of t h e persons involved. This is particularly true with however, also expressed some opinions on t h e long-range respect to the late Charles F . Spencer in whose honor a n e w aspects which w e feel are significant. These relate to such annual award will b e made. subjects as the philosophy of government ownership of inThe award, to b e administered b y the Kansas City Secdustry, t h e future of t h e natural rubber industry, and re- tion of t h e A M E R I C A N C H E M I C A L SOCIETY, was established search and development programs. "by Kenneth A. Spencer, son of Charles F . Spencer a n d Panel members all feel that government ownership of an president of Spencer Chemical Co. The annual citation, industry is contrary to our philosophy of government. t h e first ACS award to honor work in agricultural a n d food Whatever need there may have Tbeen for government owner- chemistry, will consist of a gold medal a n d an honorarium ship no longer exists. T h e question to be resolved, there- of $500. Details appear on page 889. Who was Charles F . Spencer? H i s biographical sketch fore, is not one of whether to sell the plants, b u t of t h e best reflects that h e was born in 1873 a n d died i n 1942. H e was way of getting them into t h e hands of private industry. The commission set u p to accomplish this objective, t h e always interested in building a better tomorrow through effipanel feels, has done a fine job. They have obtained a good cient use of resources. His principal interests were in coal rice for t h e plants a n d have avoided Justice Department and chemicals. His efforts were instrumental in advancing locking on the basis of monopoly possibilities. As an ex- t h e status of the chemical industry i n the Midwest. An excellent tribute was paid him by t h e well-known ample of price, one panelist said that a b r a n d n e w plant, similar in most respects to one of t h e 12-year-old govern- William Allen White in an editorial whicn appeared in t h e Emporia Gazette following Spencer's death. White said: m e n t plants, could b e built for only 7 to 8% more than
