Contents: 5 • Rockets and Bankruptcy • [Editorial (Astounding)] • essay by John W. Campbell, Jr. [as by The Editor] 7 • First Contact • novelette by Murray Leinster 35 • The Analytical Laboratory: February 1945 (Astounding, May 1945) • [The Analytical Laboratory] • essay by The Editor 36 • The Trap • short story by Frank Belknap Long 48 • The One-Eyed Man • short story by Lester del Rey [as by Philip St. John] 67 • In Times to Come (Astounding, May 1945) • [In Times to Come (Astounding)] • essay by The Editor 68 • The Fixer • [Plutonian Lens] • novelette by George O. Smith [as by Wesley Long] 99 • V-2 - Rocket Cargo Ship • essay by Willy Ley 124 • It Isn't So Easy • essay by John R. Pierce [as by J. J. Coupling] 133 • Brass Tacks (Astounding, May 1945) • [Brass Tacks] • essay by The Editor 134 •  Letter (Astounding, May 1945) • essay by Jack Speer 135 •  Letter (Astounding, May 1945) • essay by George O. Smith 138 •  Letter (Astounding, May 1945) • essay by William M. Danner 139 • The Purpose • novelette by A. E. van Vogt.