The following subjects were discussed: Ll. Executive Session* a. 1956 Fermi Award b. Cabinet Meeting on Mobilization "C" Plan ce. Discussion with Chancellor Kimpton d. Discussion with Senator Thye e. Discussion with Midwestern Universities Research Association f. 2. General Manager's Monthly Report (1) Production (2) Military Application (3) Intelligence General Manager's MonthlyReport a. Cperations Analysis Mr. (Continued) (pp. 2-5) Quackenboss commented on a study of the cost consequences of reduced future demands for U-235. He said two conclusions had been drawn from the assumptions made in preparing the study: that the military program provides the most important basis for the ore procurement program, and that the uncertainties of assumptions of long-range demands for U-235 require the government to absorb a substantial risk. Mr. Libby remarked that even if there were no military demand, it would still be necessary to buy ore to operate the gaseous diffusion plants. He added that in this case it would be necessary to stockpile U-235. *A separate memorandum and a separate transcript for this part of the Meeting have been circulated. seine ~2-