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By Paul Billingsley

THE mining districts of the first and second order1 of the western United States (and borders) are those named on Fig. 1. These fall into four groups: (1) in the eastern outliers of the Rocky Mountain system; (2) in the Rocky Mountain system itself; (3) in the Great Basin; and (4) in the Sierras and Coast ranges. Of these four groups, the first three are almost entirely of Tertiary age and are within a belt of Tertiary compres-sive folding which we shall call the Rocky Mountain-Great Basin thrust arc. The backbone of this belt is shown by the line BAC. The position of the ore districts in this belt indicates a conformance to linear elements of the continental pattern. These are additional to the peripheral elements emphasized by Butler.2 NATURE OF THE THRUST ARC The thrust arc separates regions of contrasted kinds. To the east of it are flat-lying plateaus interrupted by earlier mountain folds; to the west, sunken basins, in which block-faulted ranges lie like an anchored fleet in a sea of desert wash or lava. The cross-sections are as shown in Fig. 2.

Jan 1, 1933

By Rossiter W. Raymond

In the course of this address, President Raymond referred to the law, said to have been discovered at the French works of Terrenoire, that the amount of phosphorus may be increased without injury to steel, if the amount of carbon be proportionately decreased. The works named have been for more than a year, it is said, manufacturing in the open hearth, by the Martin process, steel rails containing as high as 0.35 per cent. of phosphorus, with about 0.15 per cent. of carbon, which were not found inferior to Bessemer rails. It is not claimed by the manager of the works that phosphorus is an ingredient to be preferred, or purposely introduced; but only that materials containing it (such as old iron rails, etc.), can be succesfully employed. Other parties have apparently a higher opinion still of the new manipulation, and are prepared to claim for " phosphorus steel" superior qualities. Mr. I. Lowthian Bell alluded to the subject in his recent address as President of the British Iron and Steel Institute, but without expressing a positive opinion. After pointing out that the commercial value of the process turned on the cheap manufacture of ferro-manganese, by means of which only could the necessary amount of manganese be introduced into the Martin bath, without increasing its contents of carbon, Mr. Raymond proceeded to say that the principle alleged to have been discovered at Terrenoire was already known years ago, in this country, at least. Not only had steel been manufactured here, containing high percentages of phosphorus, coupled with low percentages of carbon, and suitable for use in rails, boiler-plates, etc., but the reason of its surprising qualities had been distinctly surmised, if not widely proclaimed. The following analyses and extracts from private letters prove these assertions. Some of them assert a similar principle in .the case of wrought iron; but the analyses, and the remarks based upon them, have reference solely to the steel manufactured under the superintendence of Mr. Slade, at the works of the New Jersey Steel and Iron Company in Trenton.

By P. Payson

INTERGRANULAR corrosion in corrosion-resistant chromium-nickel steels has been widely discussed in the last few years. So far as the author knows, nothing has been published which definitely shows that this tendency can be eliminated, although suggestions have been made that a remedy is possible if certain specifications are satisfied. Strauss, Schottky and Hinueber1 suggested an increase in chromium content to an extent that would prevent the impoverishment of chromium on carbide precipitation sufficient to cause impaired corrosion resistance in the matrix. Pilling2 suggested an increase in nickel, so that the stability of the austenite matrix would be increased. Aborn and Bain,3 say that "intergranular attack-may be eliminated by preventing carbide precipitation (e. g., by lowering the carbon content or somehow raising its solubility) or by precipitating it permanently under conditions which will not remove chromium from solid solution so drastically at any points." In a later paper Aborn and Bain4 state that many different metallic elements, tungsten, vanadium, copper, aluminum, molybdenum, titanium and zirconium, have been added in small per-centages to increase the stability of these alloys, but that it has been reported that according to the copper sulfate test these added elements act only to retard the intergranular corrosion, and that increased nickel and chromium contents have similar effects. Newell5 showed that the lower the quenching temperature before reheating, the less severe was the intergranular attack.

Jan 1, 1932

By G. Sachs

According to Tammann,' the explanation of the effect of mechanical deformation in producing changes in the properties of metals is one of the most important problems of physical metallurgy, taking rank with the study of the constitution of alloy systems; and this problem has long attracted the attention of practitioner and scientist alike. Its solution was not advanced materially until Tammann2 set up his translation hypothesis with its crystallographic basis, while other hypotheses, such as the amorphous metal hypothesis of Beilby3 and Rosenhain,4 have been shown by more intensive studies to be less and less satisfactory. The principles of the Tammann translation hypothesis have proved to be useful even up to today and in spite of all of the recent accumulation of experimental data, while the differences of opinion which have arisen relate to the extent to which the hypothesis accounts for the observed changes Ïn properties and to what extent further assumptions are necessary. Stimulated by the proposals of Tammann, there soon developed a lively experimental activity which aimed at the elucidation of the structural or crystallographic changes produced by the mechanical deformation of metals. Parallel movements of crystal "blocks" along definite crystal slip planes had already been observed by Ewing and Rosenhain5 in 1900, in metals which had been moderately deformed but without shedding light on the crystallographic nature of the processes accompanying more severe deformation. The solution of this important problem was not advanced until a much later date, or until the methods of X-ray crystal analysis had become available. Shortly after the discovery of the diffraction of X-ray by crystals, symmetrical diffraction effects were

Jan 1, 1931

The year 1934 saw a very thorough and intensive search for oil in Italy, both by the Government-subsidized company, the A.G.I.P., and by the few smaller operating companies. Approximately two-thirds of the exploration work, however, has been done in the Province of Emilia (northern Italy). The A.G.I.P. has been particularly active in the Emilia district and has sunk several rotary holes between Voghera and Ferrara on structures located by geophysical means in the Po Valley. Only insignificant amounts of oil have shown up in these tests to date but gas has been found in fair quantities, and apparently the company is not yet prepared to abandon its search in this part of the country without further effort. In Central Italy, the same company has put down four tests with cable tools and of these two were "dry holes" and the other two found only traces of oil. The A:G.I.P. also sank two wells in southern Italy and it is believed that in these the indications were sufficiently encouraging for the exploration work to be continued. No serious drilling has yet been done in Sicily by the A.G.I.P. or any other company. The annual subsidy granted to the A.G.I.P. by the Government for the duration of its five-year plan has been considerably reduced for 1935 and this may interfere with the completion of the coming year's program in all its details. The Società Petrolifera Italians, which is the chief producing company in the country, has continued the development of its two fields, Salsomaggiore and Vallezza, and at the same time has intensified its program of exploration. Rotary machinery has been introduced and is undergoing a thorough trial, and prospects of finding new pools at greater depths are considered good. The charcoal adsorption plant at Vallezza has operated satisfactorily throughout the year and has produced nearly 3000 bbl. of high-grade gasoline. Besides the exploration well at Rile dell'Olio, which is still drilling, another wildcat test has been started at Torre-di-Traversetolo. All operations of this company are confined to the district of Emilia. The Società Petroli d'Italia has continued to operate the old fields of Montechino, Gratera and Velleja, and has a well now exploring at greater depths in that general area. Of the two exploration wells in the Torino

Jan 1, 1935

By C. T. Bischoff

This paper describes the results of testing with colorimetric methods, using "dithizone", soil samples taken over various known copper and zinc deposits covered by glacial till. Variation in results is shown for different depths and types of overburden as well as grade and type of deposit. Limiting factors for the practical application of this work are discussed. The method has proved successful for copper and zinc deposits under clay and fine sand with depths up to at least 30 ft but fails in coarse sand and gravel unless depths are very shallow. Swamps require penetration to the underlying subsoil for sample material. DURING the past few years geochemical testing for traces of heavy metals in water, soil, rock, and vegetation has aroused increasing interest. Various techniques for field and laboratory determinations have been described in the literature, as have some of the results of application. However, little information has been published regarding application to glacial terrain. Over 90 pct of the Canadian Shield is overburdened, resulting in high costs for mineral exploration once the outcropping ore deposits have been found. This has been largely responsible for the widespread application of mining geophysics in Canada, permitting concentration of effort on area or zones considered most favorable. However, geophysical interpretation has its limitations, since at least 90 pct of the structures indicated thereby contain no valuable minerals. A more direct approach is therefore highly desirable. If underlying base metal mineralization can be detected by sampling soil or vegetation at moderate cost this should prove of great help in locating new discoveries or extending known ones. A large proportion of Canadian ore deposits contain appreciable copper or zinc, even where these are not the principal economic metals. Consequently the field of application is a broad one. This paper deals with investigations along these lines with particular emphasis on soil sampling. The problems involved from the start were: 1—Which types of glacial soil, if any, would best lend themselves to testing, and conversely which types might be considered relatively hopeless? 2—Through what depths of overburden could significant mineralization be detected? 3—What sampling techniques would prove economically applicable? This included minimum depth of sample and maximum spacing that could be allowed.

Jan 1, 1955

By Alfred E. Hunt

The late Alexander Holley said, on returning from a careful study of the relative merits of the Bessemer and the open-hearth processes, as shown in the best European practice, that, in this country, the open-hearth process would live to attend the funeral of the Bessemer ; and he said this several years ago, when in this country the Bessemer plant and practice had been developed to far outstrip that abroad, and when, proportionately, it had reached an advancement much beyond the improvements in open-hearth plants and practice. At the same time, the prevailing idea in the metallurgical world, a few years ago, seemed to be in favor of the substitution of Bessemer for open-hearth steel for most of the higher qualities, and Bessemer enthusiasts loudly proclaimed, that as good steel for all purposes could be obtained by their favorite process as by the open-hearth. It was, in fact, confidently prophesied that very soon tool-steel and similar grades, which consumers had learned to specify, in ordering, to be made by the crucible process, would by common consent be made by the Bessemer, as best adapted to give the desired results. But these expectations have failed to materialize; not only do the crucible people keep on in the even tenor of their way and talk with pride of their comparatively large outputs of " hundreds " of tons per month, as usual, but the open-hearth people have kept fast hold of their original domain of nearly the entire amount of sheared plates, of locomotive tires, of large forgings, spring-steel, agricultural steel, steel castings and the like. Further, owing largely to one of the great advantages of the Bessemer process, which is also one of its inherent dangers, namely, its large output, it has also fallen into considerable disrepute for structural purposes. Not a few experienced engineers are now stipulating in their specifications that Bessemer steel will not be allowed to be used, especially for tension-members.

Jan 1, 1888

By Charles Bohdanowicz

The accompanying tables' show that in 1936 production of crude oil in Poland decreased very slightly (Tables 1 and 5), by about 1 per cent, and that gas production increased by about 11 per cent. As in preceding years, drilling (Tables 1, 2 and 3) was devoted principally to extension of oil fields in the Jaslo district (fields 1, 5 and 7) and, in a lesser degree, of those in the Stanislaw6w district (field 27). Production of crude oil is being sustained in a large measure by the deepening of old wells; besides a total number of 183 new wells completed (Table 3) about 152 wells were deepened, and in a general way the results of deepening were better than those of new wells drilled. Reserves of "proved land" have not increased as far as crude oil is concerned, but a notable extension of gas fieldsZ was attained in Daszawa (field 25) and in the Roztoki area (field 5). In the sub-carpathian zone gas fields have been proved in the vicinity of Kalusz, Kos6wJ and in the northwestern sector of that zone, between Tarnow and Lezajsk. The gas horizons of Daszawa occur in the Upper Tortonian, those of Kos6w in the Lower Tortonian (Middle Miocene). Exploratory drilling has been performed near Kalusz, and has been commenced near Kos6w and in the Tarn6w area. The Kos6w gas approaches the "wet" type. A possible gas reserve with a volume of 4,000,000,000 cu. m. (141,000,-000,000 cu. ft.) has been calculated, for an area of about 5 sq. km. of the Daszawa field, on the basis of production obtained and of decreases in pressure and their distribution. The fields of Roztoki and Strachocina (No. 12) have not yet supplied sufficient data for a calculation of reserves, which might possibly be estimated at 2,000,000,000 cu, m. (70,000,-000,000 cu. ft.).

Jan 1, 1937

By Charles R. Holmes

MORE than 70 igneous pipes and dikes are known to occur in Cambrian sediments throughout an approximately circular area of about 75 sq miles, in southwestern Ste. Genevieve County and southeastern St. Francois County, Mo., across the southern portion of the Farmington anticline, which is outlined in fig. 1. From evidence obtained from fossil fragments taken from some of the intrusives, and from the similarity in composition of the more basic intrusives to those of known age in surrounding states, these pipes and dikes are believed to be at least post-Devonian and probably Cretaceous in age. As first postulated by Rust[1], these intrusives are believed to represent explosion tubes, or diatremes, punched through great thicknesses of solid rock by gaseous pressure.

Jan 11, 1950

By T. E. Weirich

Although 1931 witnessed no new discoveries of oil or gas in Oklahoma, the year is especially outstanding because of price demoralization, political intervention, abandonment of marginal properties, a strict curbing of oil flow from wells in flush fields and an extension of proration into settled fields. In spite of a strict, adherence to proration agreements, the price per barrel of oil sank from 65c to $1.07 to a low level of 10c to 22c. Table 1 gives the price range for crude oil in Oklahoma during the year. Under a martial law order by the governor, a period intervened from Aug. 4 to Oct. 10, of complete shutting in of the flush fields. This condition created an abrupt decline in the production curve during the two months' period. Oklahoma, as elsewhere, is passing through a "transition period" of relieving expensive above-ground storage by maintaining the more copious supplies of crude oil in the natural reservoirs. For many years the thousands of small, nearly depleted wells have been considered as being the "backbone of the industry." A large number of wells of this type are now idle or completely abandoned. More than 1100 abandonments were recorded by the state Corporation Commission during the year. The industry is becoming less interested in these small wells, replacing the former attitude by the curbed potentialities of flush pools. Many of the major companies are grouping these marginal properties with those of adjacent owners, operating the whole

Jan 1, 1932

By Thomas J. O’Neil

Once again, the United States Congress is debating the minerals depletion allowance. If the past is any indication, the debate will quickly become politicized. Representatives of the densely populated but mineral-poor Northeast will no doubt claim that percentage depletion is sheer robbery of tax dollars perpetrated by corporations to line the pockets of wealthy investors. Many southern and western legislators, on the other hand, will portray the depletion allowance as our only savior from mineral deprivation, blackmail from foreign producers, and a stone-age nonmineral existence. Although this characterization of the usual minerals depletion debate may be overstated, the most unfortunate aspect is that the genuinely important role of the depletion allowance in domestic minerals production is often obscured in congressional hearings. This article will try to provide a basic understanding of the minerals depletion allowance, the underlying rationale, and the increasingly important role the allowance will play in the future. Although the discussions and conclusions can be extended to the metal mining industry in general, most of the examples are drawn from the copper industry.

Jan 10, 1974

By P. Schwed

IN determining the mechanism responsible for sintering, the most direct procedure available is the comparison of the observed time and temperature dependence of the process with the dependence to be expected upon the basis of each conceivable mechanism. This was done by Kuczynskil who, in treating the mechanism of surface diffusion, postulated, in effect, that the concentration gradient of vacancies is different from zero only within the neck. This procedure was recently questioned by Cabrera' who assumed, on the contrary, that diffusion occurs only in the region outside the neck. In the present note, the calculations are performed without restriction on the region of diffusion. To carry out this objective it is first necessary to

Jan 1, 1952

By Robert L. Thoms, Joseph D. Martinez

The development of Gulf Coast salt domes thus far, although enormously successful and productive, has proceeded in an unscheduled fashion governed by events rather than by a comprehensive plan. Motivation for the sequential progress of exploitation has included mineral discoveries, inventions, technological improvements, new needs, and a dynamic economy. Although it is too late to implement a plan for the entire cycle of exploitation of this resource, it would seem advisable to introduce now a system concept for further development. Viewed from this perspective, general determinative parameters should include economic, environmental, logistical, technical, and resource considerations, and more fundamentally, basic societal goals. Experience gained from planning in the Gulf Coast should provide guidelines for use elsewhere in the world.

Jan 1, 1981

By J. C. Rengel

Why and how the nuclear industry entered the electric power generation business is discussed in terms that nuclear energy was an undoubtedly additional energy resource and that it had promise of becoming a virtually inexhaustible generating power if breeder reactors could be devised. The growth of nuclear power, its total generation capacity, are related to the need of increasing energy requirements. The use of atomic energy for power generation will grow if it can compete economically with other fuels. The rate of growth, the time scale and direction of technical development is dependent on ore supplies. It is predicted that by 1980, 50% of all new power installations will be nuclear stations. INTRODUCTION Ten years ago, the nuclear industry was virtually unborn, the Atomic Energy Act of 1954 had just been signed, and peaceful applications of atomic power was little more than a phrase. Serious discussion of the practical application of nuclear energy to electric utility installations in the West was highly unlikely. The questions: Why and how did the nuclear industry enter the electric power generation business at all?; What is the predicted growth of nuclear power?; What technological changes do we predict?; How will the above changes affect the utilities? will in part be answered by this paper. WHY NUCLEAR POWER? The only justification for the West as for any other section of the country for atomic power is economics. Whatever energy source will provide the lowest generation cost will prevail; the only electric utilities which have shown an interest in nuclear power are those to whom it means lower generation costs. It is true that the Government sponsored the development of this technology long before there was any evidence of better economics; but a Government must take a very long-range view and it is the only type of organization that can afford to look more than twenty or thirty years into the future. The Government looked at projections such as shown in Fig. 1, which shows various rates of energy consumption, and matched these against estimates of fossil fuel resources. This showed that we will exhaust our low-cost fossil fuel supplies within 75 to 100 years and our total known fuel supplies within 150 to 200 years. The decision to invest in nuclear energy rested, therefore, on two arguments: a) It was undoubtedly an additional energy resource; and b) It has promise of becoming a virtually inex-haustable resource if breeder reactors could be devised if, while generating power, the reactors would produce more fissile materials than they consumed. This decision produced an unexpected bonus: nuclear power became competitive with fossil power much earlier than had been expected and, as shown in Fig. 2, forced the coal industry to take a hard look at its own position. I believe that the drop of coal prices shown here is the direct result of the entry of nuclear power into the energy supply business. At this point, it ought to be explained why and under what conditions nuclear power can be cheaper than fossil power. Fossil fuel cost to the utility is composed of two factors: a) Mining; and b) Transportation. As a result, the cost of fossil fuel to the utilities varies from 126, 106 Btu to 306, 106 Btu and higher. Nuclear energy is highly concentrated and the transportation factor becomes insignificant. Today the cost of nuclear fuel to the utility ranges between 156

Jan 1, 1967

By Theron Wasson

The discovery of eight new oil fields, two of which may be of major importance, was the outstanding record in Michigan this year. These new fields have helped to support the declining production from old areas and place the total of 18,559,000 bbl. in line with the past six or seven years. Thus, it appears that Michigan is doing its part in maintaining the production of the country in the third year of the war. The new fields are in the central basin area where oil was first discovered in Michigan, thus tending to focus attention on the deeper part of the lower peninsula of the state. Through 1944 the state of Michigan has produced a total of 222,-641,580 bbl. of crude oil from 100 pools, many of which arc relatively small. Among the previous1y discovered fields Reed City is still the outstanding producer, with Fork, Headquarters, and Adams following in the order named. The Reed City pool produced a little over 5,000,00 bbl., which was more than one third of the state's total for the year. Almost two thirds of the year's total oil production came from fields discovered in the past five years. Maps A map of the oil and gas fields of Michigan in 1943, published in the A.I.M.E. report for 1944,* shows the main producing areas and should be referred to if information in regard to their location is desired. The producing zones are shown in the columnar section in the same publi- cation." The data in Tables I and 2 have been carefully ' checked and every effort has been made to show as complcte information as possible. New Discoveries and New Developments Eight new producing areas were discovered during 1944 which, in order of importance, are: Deep River Field.—The discovery well in the Deep River field was drilled by Don Rayburn and others, and should be listed as a chance discovery, as, from a geological standpoint, it was not considered favorable until oil was found at a depth of 2838 ft. in a dolomitic layer in the top of the Dundee limestone. The first well was completed in January 1944, with an initial production of 2500 bbl. By the end of the year 15 wells had been completed, proying an area 2 1/2 miles long and 1/2 mile wide. Coldttater Field.-The Coldwater field was discovered in August 1944, by the Sohio Oil Co. Production is from secondary dolomite at the top of the Dundee at a depth of 3703 ft. To the end of 1944 nine wells had been drilled on 40-acre spacing. Essexville Field.—Essexville field was discovered by United Drillers and Producers, Inc. Eight wells had been completed to the Dundee lime by the end of 1944, and prospects were good for further development during 1945. Hilliards Field.—Hilliards field was discovered by Cook and Fortney. Production is from the Traverse lime at an average depth of 1588 feet,

Jan 1, 1945

By W. S. Hungerford

As several papers on the subject of mining in soft ore-bodies have recently appeared in the Transactions and in the Engineering and Mining Journal, the following brief account of the method introduced by the writer at Low Moor, Va., may be of interest. It is in some respects similar to the system at Longdale, Va., referred to in Mr. Rothwell's paper, though differing in many of its details. That system has been employed by the Longdale Iron Company for many years, and to that company the writer is indebted for many

Jan 1, 1889

By Walter M. Stephen

MODERN developments in alloy steels have been so rapid and diverse that engineering practice has scarcely had time to re-appraise all items of past experience wherein conclusions became axiomatic under conditions that no longer apply. A case in point is the wet screening of abrasive ores within the fine range still looked upon as belonging exclusively to classifiers. By virtue of the development of stainless steels (18 per cent Cr, 8 per cent Ni), it is no longer true that classifiers are more economical than screens in closed circuit with large-tonnage ball or rod mills at 65 or even 100 mesh, provided a selective overgrind of the higher-gravity constituents of the ore is not desired. Wet screening of ores is a highly corrosive as well as an abrasive operation, because of the inevitably high degree of oxygenation of the water. Screen cloth of ordinary or spring-steel wire almost at once becomes pitted arid covered with a film of corrosion products, which causes rust-blinding of fine-mesh screens and offers high frictional impedance to the flow of ore particles. On the other hand, the well-known properties of stainless steel enable it to maintain a bright surface, and so to eliminate blinding either by ore particles or by corrosion products. That a large-tonnage mill grinding hard ore to 65 mesh can be operated economically in closed circuit with screens instead of classifiers has recently been demonstrated at the Copper Cliff concentrator of the International Nickel Co.; in the test to be described, a 6 ½ by 12 ½ -ft. Marcy rod mill ground from 625 to 820 tons of ore per day to approximately 65 mesh, operating in closed circuit with three 4 by 5-ft. Hum-mer screens, without any classifier. Stainless-steel cloth gave an indicated life of several months. There was no difficulty with blinding, yet dilution and spray water could be controlled so that screen undersize averaged not less than 40 per cent solids. In contrast, ordinary carbon steel was pitted and blind with rust within 40 hours.

Jan 1, 1938

By C. Allen Born

INTRODUCTION As the title of this paper suggests, the author does not believe that risk can be managed. Rather, the objective is to identify the risk which will be present in a given venture and assess the level of that risk which is acceptable. More often than not, the risk which is present is subject to little or no modification. After identifying and measuring the risk a corporation will decide to accept it and proceed in such a way that it will be less exposed, or it will decide not to proceed at all. The exercise for a corporation is different only in degree from everyday judgements made by average people in average situations. However, that word "degree" means that it is considerably more complex on the corporate level. There is good reason for the additional complexity of corporate risk evaluation. The variables influencing a company's decision can be more numerous and the penalties for miscalculation much greater than those normally encountered by an individual. It should be understood that no analysis of risk, certainly not one as brief as the following, can do more than touch on some of the high points. Before examining the sorts of risk which affect the development and operation of specific mines, let us consider the broader aspect of the term with which mining companies, and all other business corporations, must deal. Companies must determine their long-term objectives and strategies within the context of a constantly changing world. To plot their direction they must attempt to read the future by seeking answers to questions such as: How will society evolve? Which businesses will thrive? In which of these should we place our emphasis? If a company hopes to be around five or ten years from now it must make the attempt to answer such questions in order to judge the impact of changing patterns in the evolving business environment. Information is available to allow the lessons of the past to be projected on the future. We have data on birth rates, economic booms and busts, patterns of conflict within and between nations, drought and other forces of nature as well as individual events which cannot be predicted, but which over time, do seem to occur in regular cycles. Ultimately the question "where will we be and what will we be doing a decade from now?" must be answered by one or more senior people with responsibility for the company's future. The compilation and interpretation of hard data by competent support staff, can only be used up to a certain point in determining future corporate strategy since there will be alternative possible futures and a high degree of risk will always remain. At this point those elusive qualities of experience, instinct, and - "gut feeling" - become important factors in choosing a long-term corporate direction. The goals of a company have a significant bearing on its attitude towards risk. This in turn dictates the "hurdle rate of return on investment" which a project decision-maker will require. The hurdle rate is the minimum-discount-percentage-rate applied to forecast cash flows to give a present value of zero to the All-Equity-Funded Investor. The feasibility study for a project is a fundamental tool in the management of risk. An experienced team has an established and well-understood set of ground rules for the preparation and assembly of a feasibility study. The necessary degree of conservation is built in at all levels of study data and, if the project is technically feasible, the hurdle rate becomes a catch-all measure of risk in a base-case project cash flow.

Jan 1, 1985

By David Baker

A Discussion of the Paper of David Baker, read at the Lake Superior Meeting, September, 1904. (Washington Meeting, May, 1905.) MR. JOHN J. PORTER, Chicago Ill. (communication to the Secretary*) :-Mr. Baker's account of his experiences with stock-distribution has been particularly interesting to me, as it confirms the opinions which I had formed concerning the rapid failure of linings in several furnaces that have recently come to my notice. These furnaces, four -in number, are of modern construction, having been built or remodeled within the past two years, and are equipped with a well-known type of skip-hoist and double-bell charging-apparatus. In every case, a hot spot has developed within a few months after blowing-in, which has already compelled relining in two cases, and the probabilities are strongly against a long campaign in the other two. Since the hot spot in each case appeared in a position approximately opposite to the skip-hoist, and since the sizing, mentioned by Mr. Baker, is very apparent, it would seem as though there could be no doubt concerning the cause of the trouble. Nevertheless, there are some who cannot see it in that light; for the managers of two of these plants, at least, do not admit the existence of bad distribution, and have satisfied themselves by putting in cooling-plates, thickening the lining of the in-wall, and changing the brand of the fire-brick used for the construction of the walls. From observations of the clumping-action of the skip-hoist, and from subsequent inspection of the stock-distribution in the furnace itself, I arrived at the conclusion, some time ago, that no system of filling could be perfectly satisfactory where the stock is dumped into the hopper from one side, also that some

Mar 1, 1905

By Henry F. Cooper, Scott E. Blouin

Large jacking test procedures that have been applied to obtain static in-situ rock properties (Ref. 1) have shown that the in-situ rock modulus and strength can be considerably less than what would be obtained from laboratory tests on intact samples. This trend is also expected to be true for dynamic properties, but few dynamic in- situ rock property tests have been conducted. During the past several years, high explosive test procedures have been developed to simulate the airblast and direct induced ground motions (Ref. 2) produced by nuclear explosions . These test procedures load large volumes (up to 10 7 f t3) of the earth with stress levels sufficiently high to produc5 feet of particle displacement over surface areas up to l0 5 ft2. This paper discusses some of the data obtained, and the implications of these results for our understanding of the dynamic response of in-situ rock. DESCRIPTION OF TEST PROCEDURES As shown in Fig. 1, the High Explosive Simulation Technique (HEST) consists of a cavity of uniform height bounded on the sides by a soil berm, above by an overburden of uniform thickness, and below by the test bed on the earth's surface. Horizontal racks of detonating cord are placed in the cavity and detonated at one end of the test bed. This detonation produces an explosive wave that propagates across the test bed, loading the earth with an overpressure pulse that decays with time because of the compression and lifting of the overburden. Since 1964, there have been approximately 40 such tests on test bed areas ranging from a few hundred to l0 5 sq ft., simulating peak overpressure conditions between about 100 and 6000 psi and specific impulses between a few and over 100 psi-sec.

Jan 1, 1971