THE PRESIDENT: Mr. Hershey's experience is like mine, about $7.00 a graft. I will say that if I give grafting demonstrations, as I have in Michigan, I always tell my audience a little story. Once upon a time there was a wild west show. An old Indian chief on the outside proclaimed the merits of the show. He always finished by saying, "And now, ladies and gentlemen, if you go into this show I positively will not give you your money back." I generally tell my audience I positively will not guarantee anything. If none of the scions grow they can't come back and say, "I told you so." DR. DEMING: I would like to have our president talk about methods of making the transplanting of nursery grafted trees safer for the purchaser. Dr. Neilson has had a good deal of experience in setting out nursery stock. THE PRESIDENT: Quite naturally in the progress of time we gain some knowledge by experience. Sometimes that experience is very costly. We remember it more clearly. During the past year I made a few observations on transplanting nut trees. Some of you who were at Ontario in 1928 and New York last year, heard me speak of doing it by means of paraffin coating which has been successful in quite a wide area of this country and in Canada. The difficulty was that during very hot weather the wax melted and ran down and did some injury on the south side of the tree. I did notice that if you inclined the tree to the southwest just a little there was very little injury, whereas if they leaned to the northeast there was injury. I would suggest this, that if you are planting on southern slopes and happen to be in localities where there are very high temperatures, you use 1-3 beeswax and 2-3 paraffin. Beeswax has been proven to be quite safe over wounds and trees in general. This treatment has been used over a very wide area, in 18 states and 5 Canadian Provinces. We have information at hand on 130,000 roses, 15,000 pecans, 2,000 apples. We have had very few complaints from the people who have used this treatment. Because of that, I firmly believe that the principle of applying a protective coating to the upper part of the tree and branches is correct. I have made another observation in protecting roots against devitalizing. Certain kinds of trees, hickory, walnut, are very susceptible to injury to the roots. I tried paraffin on the cut roots and got very good healing. I found that wherever I packed moist peat around the roots there was very good response. Last spring I took about 100 seedling black walnuts and put half in good loamy soil, the other half in moist peat. I got very good results from those packed in peat. In the loam in 7 weeks not one scion had grown. I took those pots and took out the dirt. I later planted them in a cold frame in peat and practically every one of those walnut trees grew. I believe that the peat had some beneficial effect.