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During the sixth quarter four boron-promoted cobalt catalysts were prepared by a new boriding process using diborane gas as the boriding agent. These catalysts were characterized by chemical analysis, BET, H/sub 2/ chemisorption, and x-ray diffraction. Temperature-programmed desorption spectra of H/sub 2/ were obtained for a sodium-promoted cobalt boride and a sodium-promoted Co/SiO/sub 2/. Four cobalt catalysts (unsupported, boron-promoted, sodium-promoted, and doubly-promoted) were tested for CO hydrogenation activity and selectivity at 1 atm and 3 to 4 temperatures in the range of 190 to 240/sup 0/C. About 10% of the surface of cobalt boride consists of reduced metallic cobalt. The addition of sodium to cobalt increases its binding energy with H/sub 2/ and its activation energy for H/sub 2/ adsorption. Boron does not affect the activity of cobalt; sodium decreases it by a factor of 10. Cobalt boride produces lighter hydrocarbon products relative to cobalt; sodium-promoted cobalt produces heavier products, more alcohols, and more CO/sub 2/. 29 references, 10 figures, 4 tables.