Transcribed from attached press release: "LITTLE BIT Only an inch and a quarter in diameter, this "microbit" enables engineers at the Hughes Tool Company, Houston, Texas, to estimate the performance of full-size bits for the oil drilling industry. The company operates the largest testing laboratory of its kind anywhere in the world and produces thousands of rock bits necessary to drill deeper and deeper as the world's shallow oil wells have become exhausted. Howard Hughes terms the Hughes Tool company the "keystone" of his industrial empire."

Transcribed from stamp on back of photo: "June 16, 1946; Hughes Aircraft Photo." Crowds and policeman watching as a section of Howard Hughes' "Spruce Goose" or "Flying Boat" was being moved (with a police escort) from the Hughes Aircraft plant in Culver City, California to Terminal Island in the Los Angeles Harbor where the plane was assembled June 1946. The men are raising the power lines so the fuselage can pass under.

Aerial view of the airport at Hughes' aircraft plant in Culver City, California. The airport's runway was in operation from 1941 to 1985.

A section of Howard Hughes' "Spruce Goose" or "Flying Boat" being moved (with a police escort) from the Hughes Aircraft plant in Culver City, California to Terminal Island in the Los Angeles Harbor where the plane was assembled in June of 1946.

Press release attached to back of photo: "A roughneck fits a new Hughes Jet bit into the drill collar preparatory to running the drill stem into the hold. In 1953 more than 500,000 rock bits produced by the Hughes Tool Company of Houston, Texas, were used in the United States alone. The invention of the rock bit by Howard R. Hughes, Sr., made it possible to drill far deeper into the earth beyond the shallow oil deposits which are now practically exhausted. Without rotary drilling equipment of this kind the world might revert to a horse and buggy economy."