Maximum energy released by atomic-disintegration (radioactivity.)—From Einstein's equation Mc2=E and Aston's curve maximum possible energy that can be released in radioactive changes can be computed. The theoretical and experimental values are in satisfactory agreement. Energy released in step-by-step atom-building.—No step-by-step atom-building process can produce rays as penetrating as observed cosmic rays. The absence of radiations corresponding to such step-by-step processes probably means that atom-building does not in general occur in this way. The creation of helium out of hydrogen.—About 80 percent of observed cosmic rays appear to be due to act corresponding to sudden union of four positive and two negative electrons into nucleus of atom of helium. This produces a cosmic ray of absorption coefficient μ=0.30 per meter of water. The creation of oxygen and silicon out of hydrogen.—The observed cosmic rays of absorption coefficients μ=0.08 and μ=0.04 appear to be produced by sudden building of positive and negative electrons into atoms of oxygen and silicon, former act giving rise to a ray of absorption coefficient μ=0.08, latter to μ=0.04. This last is a definitely observed ray having an energy corresponding to fall of an electron through 216,000,000 volts. Possible rays due to creation of iron and to annihilation of hydrogen.—The cosmic-ray indications are reconcilable with view that iron is produced by union in a single act of positive and negative electrons into atom of iron, but cosmic rays show no direct indications of transformation of whole mass of hydrogen atom into radiation. Synthetic cosmic-ray curves.—The observed cosmic-ray curve can be built up fairly satisfactorily by assumption that relative intensities of cosmic rays reaching earth's atmosphere are proportional to abundance of common elements in meteorites and earth's crust, 96 percent of these bodies being made of four elements, oxygen, magnesium, silicon and iron. The kinetics of atom-building.—While kinetics of atom-building are more bothersome than thermodynamics, with suitable assumptions, presented herewith, they may not offer wholly insuperable difficulties. The place of origin of cosmic rays.—Evidence is presented to show that cosmic rays do not originate in stars, but only in depths of space where temperature and densities are practically zero. Cosmic rays and Second Law of Thermodynamics.—The observed properties of cosmic rays, indicating that creation of common elements occurs only in interstellar or intergalactic space, suggest possibility of avoiding warmetod, and of regarding universe as already in the steady state.