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By G. S. Rice

With so tremendous a subject, an attempted review of the coal situation of the world in a short talk must necessarily be of a sketchy character. It is hardly necessary to tell a body of engineers that had it not been for nature's gift of coal the material side of modern civilization would never have reached its present status. On the other side, it is regrettable that it was a byproduct of coal, T. N. T., which made possible Germany's initial success in this war, because that country had an enormous development of manufacturing plants that could be immediately utilized to make this destructive agent: One sometimes hears the casual remark that when the coal of the world is exhausted we shall use electricity; but, of course, electricity is ordinarily only a means of transforming and transmitting energy derived from fuel or water power, and chiefly from coal. It is true, we have much undeveloped water power, but it is more or less remote from 'the, centers of industry; and when all shall have been developed it will not begin to supply the power requirements of the world. It is, however, reasonable to expect that before the world's supply of coal shall be exhausted, methods will have been discovered of harnessing other forces of nature, such as the tides, or the energy emanating from the sun. Petroleum and natural gas naturally come to mind, but the days of both, as fuel, appear to be numbered, although the products of petroleum, if economically used, doubtless will be available for internal-combustion engines, automobiles, trucks, and boats for a long time, provided the reckless use of crude petroleum as an ordinary fuel is stopped. The products of petroleum are too valuable to mankind for such waste to be permitted. The civilization of the world, therefore, appears to rest, and, so far as can be seen, will indefinitely continue to rest, upon coal. COal Resources of the World According to the compilation made by the geologists of the principal countries for the 12th International Geologic Congress, held in Canada

Jan 1, 1918

By W. S. Hyler, W. L. Bruckart

The powder metallurgy and arc-cast types of wrought molybdenum stock were studied in rotating beam fatigue. Endurance ratios of unnotched specimens after 5x10 cycles were found to be 0.74 and 0.81, respectively. Fatigue notch factors (K,) of 1.36 and 2.05, respectively, were obtained on V-notched specimens having a theoretical stress-concentration factor Kt = 3.1. MOLYBDENUM and its alloys are rapidly gaining importance as engineering materials of construction for high temperature applications. AS a wrought material, molybdenum and its alloys are outstanding above 1800°F. It is necessary, however, with molybdenum to provide elevated temperature oxidation protection. This is currently being studied by a number of investigators. Thus far, there have been no published data on the fatigue behavior of molybdenum either at room temperature or at elevated temperature. The knowledge of fatigue behavior, particularly notched fatigue behavior, becomes increasingly important as the engineering importance of a material increases, especially from the design standpoint. The work described here was directed toward determination of the notched and unnotched rotating beam fatigue characteristics of molybdenum at room temperature. Also, it was desired to learn whether any difference exists between wrought molybdenum of the powder metallurgy and the are-cast types. Fabrication History of Bar Stock For this work, bar stock was procured from Climax Molybdenum Co. (are-cast type) and from Westing-house Electric Corp. (powder metallurgy type). The processing histories of these materials are listed in Table I. The first lot of are-cast molybdenum was deoxidized by aluminum additions. The second lot was deoxidized by carbon." Both lots of the powder Microstructure A microscopic examination of these materials, as received, revealed the powder metallurgy molybdenum to be free of inclusions and to be finely fibered. On the other hand, the are-cast C molybdenum possessed numerous carbide inclusions, and the arc-cast A appeared to have coarse grained fibers. These are shown in Fig. 1. Owing to the large apparent difference in fineness of fiber between the are-cast A and the powder product and are-cast C, a check was made of the recrystallized grain sizes to determine whether these differences persisted. A series of recrystallization anneals revealed mixed grain sizes in both the are-cast A and the powder product. Variations in grain diameter of as much as 50 times were found after full recrystallization at 1200°C for 30 min. There was no distinction between the two. Arc-cast C was not checked. Room Temperature Mechanical Properties Prior to subjecting the materials to fatigue tests, room temperature mechanical properties were determined. These data, together with the tensil: strength of the notched bars, data,togetherare listed in Table tensil: There were no significant differences in the tensile strengths of the two types of molybdenum. However, the powder metallurgy material was generally more ductile and yielded at a somewhat lower stress than the arc-cast material. Tensile strengths of the notched specimens indicated a slightly greater notch strengthening effect in the are-cast C than in the powder product, lot 2. Room Temperature Fatigue Properties Sample Preparation: Specimens were prepared for use in R. R. Moore rotating beam fatigue machines. These specimens had a continuous radius test section with a minimum diameter of 0.260 in. The specimens were prepared by grinding to shape and polishing to produce a smooth unworked surface. Polishing consisted of rotating a disk in the continuous radius section on which were attached, successively, emery belts of 240, 400, and 600 grit. The specimens were slowly rotated during the operation. The belt speed was high, and rotation was such that polishing scratches were longitudinal. Unnotched Fatigue Properties: Unnotched fatigue data were obtained from a number of specimens of each of the four lots of molybdenum. The results of the tests are presented in Fig. 2. From this figure,

Jan 1, 1956

By E. M. Wise

THE practice of adding moderate quantities of nickel to a variety of bronzes has been employed by foundrymen for many years with several objects in view. In some instances it was desired- to harden the alloy; in others it was to increase the fluidity or to improve the solidity of the castings, or to refine their grain. These important matters have been considered in detail by Pilling and Kihlgren1 and by numerous other workers cited by them, and with the exception of the first will not be considered in the present communication. The possibility of reducing the cost of bronze by replacing a portion of the tin with nickel received attention some years ago by Burgess and Woodward,2 and, as will be shown later, offers attractive savings in cost under present conditions. The age-hardening characteristics of the nickel bronzes of appropriate compositions have been known for some time and were mentioned by Price, Grant and Phillips3 and discussed by Wise4 in connection with their paper. These matters are further considered in recent patents,5 and are becoming of commercial importance in the production of high-strength castings.

Jan 1, 1934

The banquet Wednesday evening was attended by about 700. The list of speakers was unusually brilliant and each one proved to be so interesting that it was nearly midnight before the dancing began. Capt. Robert W. Hunt was toastmaster. Captain Hunt is about to celebrate his eighty-first birthday but is blest with unusual vigor and it was a great pleasure to all his friends to honor him at this time. His selection is toastmaster was a happy one. The guest of the evening, if among so many stars one could be selected from the rest, was Charles M. Schwab, who said nothing but the urgent telegram from his dear old friend, Captain Hunt, could have drawn him away from his seclusion on his Pennsylvania farm to attend the meeting in Chicago. Mr. Schwab's address was, as usual, scintillating with wit and humor; and while lie did not directly or indirectly allude to the steel strike lie did at the end of his talk discuss serious things and gave it as his opinion that any effort to legislate or control the high cost of living would be futile until this country got down to a basis of an honest day's work for an honest day's wage.

Jan 11, 1919

By William Waters Van Ness

The Pierrefitte mines, situated in the South of France, in the district of the Hautes-Pyrenees, owe their name to the fact that the first mining operations of any extent, and of comparatively reccnt date, were carried out in the neighborhood of the village of Pierrefitte, which is a branch terminus of the Midi railway. The Pierrefitte mines, however, embrace a wide extent of country and several different concessions, on most of which comparatively little exploration-work has been done. The portion of the property presently to be described is a zone running roughly E—W., over a distance of about 5 miles from the valley of Cauterets to the valley of Estaing, the ridge dividing these valleys being a spur of the main chain of the Pyrenees, and running more or less at right angles to it. According to local tradition, which various indications tend to confirm, these mines are of ancient date, the first workings being attributed to the Romans, who are supposcd to have sought not only the lead but also the silver which is contained in the ore. Old slags have been found in the neighborhood which might well have been produced from the cupellation of lead-ores. These old workings, while of considerable extent at times, do not seem to have extended beyond a depth of 100 ft., even this depth being somewhat exceptional. The old notarial records of the district show that mines were known to exist, and that they were even worked, in the sixteenth century, but since the mines were abandoned (by the Romans or others) considerably prior to this period, very little

Jan 1, 1909

By Fred A. Anderson, George B. Wallace, Edward J. Slebir

As the reservoir rises behind an arch dam, it presses the arch into the canyon walls and valley floor. To compute the stresses, deflections, and arch reactions, it is necessary to know how much the rock deforms under the combined loads of gravity, temperature, and water. Under sustained loading for a period of time, the rock continues to deform or "creep" slightly, causing changes in the stresses and shape of the arch. Under reduced loading, the elastic arch tends to resume its unstrained position and it is important to know that the rock will follow it and maintain tight contact along the abutment. It is, therefore, important to know the "set" characteristic of the rock. Past attempts to define load-deformation properties of rock, including creep and set, have largely l been limited to laboratory test of intact cores and in-situ jacking test utilizing bearing plates 2 to 3 ft in diam. In both cases, a uniaxial load has been applied to a volume of rock too small to fully reflect the influence of cracks, joint systems, foliation, and other inherent weaknesses within the rock mass. This chapter describes a large radial jacking test which more nearly duplicates the action of an arch dam by penetrating the load deep into the rock mass, bringing into play more of the factors which contribute to prototype deformation. Results obtained from the large radial test are compared with those from smaller uniaxial test. DESCRIPTION OF RADIAL TEST The radial jacking test described in this chapter was performed in an adit off of an exploratory tunnel driven into a proposed dam abutment

Jan 1, 1972

Problems discussed and research opportunities identified during the workshop in the major areas of 1) flocculation, 2) flotation, 3) leaching and magnetic separation are summarized below. I. FLOCCULATION Problems Practical problems caused by unintentional flocculation or dispersion were described in the papers that dealt with iron ore processing, selective flocculation, fine coal processing, phosphate processing and potash processing. Ideas generated during the discussions ranged from the very practical suggestion that a conscious effort be made to transfer knowhow from the experienced clay industry to the metals and fuels-from-slimes industry. . . , to the familiar appeals for omnipotent theoretical developments. There was surprising recurrence of some questions in many contexts. Recurring questions are emphasized here rather than commodity-specific problems because their answers would serve a wider clientele usage. There is indeed no objection and some advantage to commodity-specific research, however, provided the proposed project is planned with full cognizance of transferable knowledge in other commodities, and of the possible usefulness of these results in other areas. Research Needs Most of the questions or research opportunities can be classified into three groups: a) water chemistry, b) dewatering, and c) flocculation theory. Other classifications are possible and probably useful. In each group there is a clear need for outwardly esoteric theoretical research a clear application of that work to current practical problems. Higher priority should be given to proposals for theoretical research which explicitly show the expected ultimate usefulness of the result. Likewise, proposals for applied research should demonstrate cognizance of applicable theory. Both of these types of projects could profit from collaboration among industrial, university and government personnel.

Jan 1, 1979

By J. A. Reeves

The unit-train for moving mineral raw materials is considered by many railroad men as the most significant contribution toward reducing rail freight costs since the introduction of the diesel locomotive. The idea, which involves assigning railroad equipment to only one haul and keeping the equipment rolling, results in the maximum utilization of equipment. For example, before the unit train was placed in service on coal hauled to one of Mid-Continent Coal and Coke Company's customers, about 900 cars and 9 locomotives were needed to move its coal requirements, compared with 250 cars and 6 locomotives currently used. If unit-train economics are to be achieved, coal companies cannot use railroad cars as small storage bins on wheels to accumulate their coal in train-load shipments, instead, these companies must build large bins which incorporate facilities for the rapid loading of railroad cars in a minimum length of time.

Jan 1, 1970

By Henry J. Schwellenbach

Lack of a system in scheduling the replacement of capital equipment can result in emergency purchases of units which may later be found unsuitable for the job. New York Trap Rock Corp., which produces crushed stone for use as construction aggregate, was faced with just such a situation some years ago. The company replaced capital equipment only when machinery in use was no longer serviceable, or when there was an obvious need for different equipment. Operating and maintenance costs were generally neglected because an efficient method was lacking. New York Trap Rock has four plants located along the Hudson River, all within 70 miles of New York City. Crushed stone output-6 million tons a year-is moved to markets in metropolitan New York, New Jersey, and Long Island areas by water transport. Customers are contractors with ready-mix concrete and asphalt plants located on the water.

Jan 10, 1959

By Sydney H. Ball

MINERALS used primarily for personal adornment and decorative purposes are called precious stones. To be so prized, the stones must possess beauty of color, must not be too common, and must be hard enough to withstand ordinary wear. If transparent, they must have brilliancy and fire. Almost one hundred minerals have been used as precious stones, the noble gems being the diamond, emerald, ruby, and sapphire; pearls are frequently included by courtesy. These gem stones, however, are sometimes equaled in beauty by fine opals, aquamarines, ourmalines, spinels, chrysoberyls (both cat's-eye and alexandrite), and spodumenes (hiddenite and kunzite). The Greeks, Romans, and medieval Europeans grouped together gem stones according to color and degree of transparency, and only as the niceties of mineralogy began to be known, about a century ago, was it realized how many different minerals have the beauty required of gem stones. Pliny, for example, did not distinguish between rubies and the red varieties of spinel and garnet, although he conjectured that the beryl and emerald were one mineral. GENERAL SURVEY Early man treasured bright colored berries, attractive shells, white teeth of wild animals and brightly colored pebbles, and used them as personal ornaments. In the eastern hemisphere, the earliest stones used were members of the quartz family (100,000 to 75,000 B.C.); then obsidian and amber (50,000 to 25,000 B.C.); the jade minerals, fluorspar and jet (22,000 to 7000 B.C.); turquoise (7000 to 3400 B.C.); lapis lazuli and garnet (prior to 3500 B.C.) ; emerald (2000 to 1800 B.C.) ; sapphire, ruby and diamond (800 to 500 B.C.). Indeed, gem mining is the oldest form of mining, and before any metals were known primitive man recognized about 18 gems and decorative stones. At first he sought them in stream gravels and residual deposits but by 3400 B.C. the turquoise mines of the Sinai Peninsula were operated. This was the world's first important hard-rock mining enterprise. The Afghanistan lapis lazuli mines may

Jan 1, 1949

By T. Sterry Hunt

At the meeting of the Institute in Easton, October, 1873,I made a communication on the Ore Knob copper mine, in Ashe County, North Carolina (Transactions, vol. ii, p. 123), in which I called attention to the chemical decomposition alike of the pyritous lode and the inclosing gneiss rock to a depth of 60 feet, by which the feldspar of the latter had been converted into clay, and the whole rock very much softened. Such a decomposition is well known to be almost universal in the crystalline rocks of the Appalachians south of the Potomac; and if it is only seen in rare and exceptional cases farther to the northward, this, as I have elsewhere pointed out, is due to the fact that the decomposition began and ended in the ages anterior to the drift period, and that the decayed portions which still remained were at that time removed from the surface, except in some localities which were protected from the emding agency. I have lately had an opportunity of studying a remarkable instance of this kind in an examination made last month for the corporators of the Hoosac Tunnel.* The locality is at the western base of Hoosac Mountain, the western slope of which rises rapidly 1300 feet above the town of North Adams, in Berkshire County, Massachusetts, itself 700 feet above the sea level. Through this mountain, as is well known, a tunnel for the Troy and Boston Railroad has lately been opened, a distance of 25,081 feet from east to west. The rock of the mountain consists of mica schist and micaceous gneiss, including in its western half a great mass of harder feldspathic and quartzose strata in part a granitoid gneiss, the strata for the most part dipping to the eastward with variable angles, but with occasional western dips, apparently due to inversion. The crystalline strata of the mountain crest and sides are in many places exposed, and present rounded surfaces, often deeply grooved and striated, but with no appearance of decay. At the western base of the mountain, however, the gneissic rock is in a state of complete decomposition, which was well displayed in opening the tunnel, which, for a distance of several hundred feet, was driven through highly inclined strata so much decomposed that they were excavated with pick and shovel, and without the aid of blast-

By A. M. Gow

The trend in ball milling has been toward mills of larger diameter, but without fundamental laws as a guide. The speeds at which mills are run have been a matter of cut-and-try. This paper deals with both diameter and speed and proposes to show the laws which apply to some laboratory ball mills, ranging in diameter from 18 to 42 in., run at various speeds. The correlation of power, speed and grinding rate of the respective mills will be shown by curves of markedly significant similarity. Before presenting the results some consideration will be given to the mechanics of ball milling. Mechanics and Theory of Ball Milling As early as 1904, Herman Fischerl reported observations on specially constructed ball mills which allowed the paths of balls to be studied. The following conclusions were drawn: 1. Balls do not grind the ore, but crush it by impact. 2. At slow speeds the balls roll down the inclined heap, but at higher speeds the balls close to the wall adhere to it until they reach a certain height, whence they are thrown through an arc to the bottom. 3. The falling balls do not come down in clusters, but in series, the balls of each row keeping to their own line of flight according to their distances from the wall while ascending. 4. A further increase in speed results in the balls adhering during the whole of the circuit to the side of the drum. (This centrifuging speed may be called the "critical" speed and may be taken as a reference basis, since it is a constant function of the diameter.)2

Jan 1, 1930

By Donald Markle

ANTHRACOAL is a mixture of small particles of anthracite coal and a matrix of practically pure carbon, formed from the distillation of coal-tar pitch or other suitable bitumen. It is a hard, dense, homogeneous mass, with a silvery luster and in color varies from silvery to grayish black. When pushed from the oven, it develops only partly the fingerlike structure of coke; but, unlike coke, it has a tendency to remain in blocky masses. When struck with a hammer or passed through crushing rolls, it breaks with an irregular fracture, similar to anthracite, but with very little fines. Due to its density, anthracoal is harder, tougher, and stronger than coke. The results of a test made by the blast-furnace department, of the Bethlehem Steel Co., on two barrels of anthracoal are given in Table 1. TABLE I.-Results of Shatter Tests on Anthracoal and Coke Anthracoal Test Good Blast-furnace Coke First Second Barrel Barrel Moisture, per cent 0.77 0.76 Under 5, variation not over 3 points Sieve test Through 2-in. screen, per cent 7.71 7.29 Under 40 Through 1-in. screen, per cent 1.37 1.56 Through ½ -in. screen, percent 0.93 1.08 Under 8 Over 2-in. screen, per cent 92.29 92.71 Over 60 Shatter test Through 2-in. screen, per cent 10.06 ' 12.40 1 Under 16 Through 1-in. screen, per cent 2.66 2.06 Through ½ -in. screen, per cent 1.80 1.26 Over 2-in. screen, per cent Hardness number 86.40 86.10 Over 81 Analysis Ash, percent 16.64 16.48 Under 11 Sulfur, per cent 1.17 1.10 Under 0.95 Volatile matter, per cent 0.77 0.27 Fixed carbon, percent 82.59 83.25 Over 87

Jan 8, 1921

By Arthur Braid

THE war has caused an increasing scarcity of phosphorus and its well known alloys with copper and tin. At the same time, the production of brass and bronze, nickel-silver, cupro-nickel, and other non-ferrous alloys, has considerably increased. The manufacturers of these products had therefore to secure other materials which would serve their purpose; principally that of a deoxidizer, which could be. obtained promptly and regularly. Fortunately these materials, pure carbon-free manganese metal and manganese-copper alloy, were not hard to find-in fact, they were never lost. Manganese in various forms has been used in Europe for more than a century; in this country, however, when manganese was first used, and indeed for a long time thereafter, it was consumed mainly in the- manufacture of manganese-bronze. Many foundrymen at that time used manganese-copper with the same freedom as phosphor-copper. Although iron enters into the composition of certain- grades of bronze, it is very detrimental to non-ferrous mixtures in general; consequently ferro-manganese is not applicable, and therefore pure manganese metal, or the alloy of manganese and copper, technically free from iron and other impurities, is now being generally used. The following are the principal elements having an affinity for oxygen: 1, Sodium. 2, Potassium. 3, Calcium. 4, Strontium. 5, Barium. 6, Magnesium. 7, Aluminum, 8, Phosphorus. 9, Silicon. 10, Manganese. 11, Iron. 12, Zinc. 13, Lead. Each metal has its natural flux, or deoxidizer, in the form of a metal or non-metal which will alloy with it, and has a strong affinity for oxygen. For example, phosphorus, as is well known, acts very beneficially in copper alloys that contain tin. Within 'the last few years, and particularly since the war began, the great value of manganese in nickel alloys has been demonstrated, and one by one the manufacturers of these products have adopted its use. While manganese has not so strong an affinity for oxygen as magnesium, aluminum, or silicon, it is nevertheless sufficiently powerful to reduce any oxide of nickel, copper, or zinc that may be present in the nickel alloy to be purified.

Jan 11, 1918

By A. T. Shurick

THE present economic crisis in bituminous coal is substantially the most insidious, and critical, in the modern history of the industry. The large consumption deficit that has gradually developed (almost unawares), has culminated in a situation that has forced home the urgent necessity for prompt and radical remedial measures, such as the various mergers now in course of negotiation. Conditions today are sufficiently comparable with those in the iron and steel industry, preceding the formation of the United States Steel Corpn., to suggest the possibility of a sweeping super-consolidation, that all but staggers the imagination. The important function of the banker in this, and lesser projects, is too well known to require comment, and it is important that we understand clearly just what these functions are. Certain features in banking practice came up for consideration in connection with a rather exhaustive economic study into the prospective future of the coal industry, upon which I was recently engaged for an Eastern bituminous interest. This survey was made for the purpose of effecting a decision on certain pressing questions of policy, involving considerable capital expenditures, that would be compatible with the flattening out in the curve of production in recent years. An examination of the TRANSACTIONS, and the coal literature generally, failed to disclose any pertinent, and authoritative data, on this subject. This was more or less characteristic of the whole survey, which had involved a large amount of original research, and measures were taken to procure the required information. The following notes have been compiled largely from the data thus collected, supplemented with material, suggestions and criticisms, by several of the larger banking houses active in coal, together with personal memoranda of my own.

Jan 1, 1928

By Willis T. Burns

I. Introduction.......................................... 703 II. History................................................ 703 III. General Description of Plant......................... 704 IV. AnoDes................................................. 711 V. Cathodes............................................... 714 VI. Electrolyte............................................ 718 VII. Electrolytic Slime..................................... 727 VIII. Power................................................. 728 IX. Operating Details..................................... 732 X. Furnace Refining...................................... 736 XI. Physical Testing oF Products.......................... 739 I. Introduction. These notes are submitted, not as a discussion of the modern practice of electrolytic-copper refining, but as the record of a refinery that was among the pioneers in the field and that is to-day, and has been for 17 years, operating under conditions not to be found in any similar plant in the country. I refer to the current density, which is at least 60 per cent. higher than that regularly employed elsewhere, and to the fact that the anodes treated are the direct product of the converter rather than of the reverberatory furnace. The writer has no knowledge of any other refinery treating anodes of this character. II. History. This refinery, now one of the oldest plants of its kind operating in this country, was built in 1892 by the Boston & Montana Consolidated Copper & Silver Mining CO. to refine the product of its Great Falls reduction works. The estimated capacity of the plant as designed was 65,000 lb. of cathodes per day at a current density of 16 amperes per square foot.

Jan 1, 1914

By Bernard E. Weichman

The oil shales of the Green River formation were deposited in an inland lake which contained abundant plant and animal life. A high percentage of sodium bicarbonate existed in the lower water layers. Digestion of the kerogen-rich mud accumulating on the lake floor lowered the pH of the interstitial waters and precipitated the sodium minerals dawsonite and nahcolite in the kerogen-rich mud. After about five million years of existence, uplift of land areas around the lake caused an influx of clastic sediments which filled up the lake. Continued tectionics gently folded the basin and caused fracturing of the kerogen-lean oil shale. Nahcolite existing in the fractured lean oil shale was dissolved by subsurface waters leaving a tremendous aquifer in a portion of the oil shale. The extent and porosity of the "Leached zone" aquifer is dependent upon the percent of kerogen and nahcolite originally deposited in the oil shale.

Jan 1, 1975

The economic recovery of metals from dilute solutions has been the dream of mining engineers for many years. This subject is now receiving greater attention, particularly for copper, in view of the heightened demand for the metal and the tightening supply situation. A Copper Precipitation session, sponsored jointly by EMD Hydrometallurgy Committee and MBD, which took place during the Annual Meeting in March, heard papers on recent research and plant practice. Although the bulk of research in hydrometallurgy has been carried out in countries other than the United States1, producers in this country are making important contributions to the heap or dump leaching system. They realize that the processes are essentially simple to install and give high recovery rates at reasonable cost. Jacobi estimated in 1963 2 that the copper mining industry obtained a gross return from scavenging operations -on a worldwide basis-on the order of $20 million annually, subject to the usual deductions for refining and realization charges, overheads, taxes, etc.

Jan 6, 1966

By William E. Greenawalt

Ever since electrolytic copper refining gave promise of success, about a half century ago, efforts have been made to apply the idea to the extraction of copper from its ores. The methods of attack have, usually, been to leach with a dilute acid and then to deposit electrolytically the copper from the resulting solution with the simultaneous regeneration of the solvent used in the process. Many efforts have been made, and many patents have been taken out, both in the United States and abroad, to give this idea practical application, but only within the past few years have the difficulties been surmounted. Leaching and electrolysis, as applied to copper ores, are among the most promising fields in modern metallurgy. New conditions are arising, which will bring the wet methods into prominence; while high freight rates and increasing cost of fuel will tend to limit smelting to highly favored localities. The possibilities offered by the installation of hydroelectric plants and the greatly enlarged range of power transmission will greatly widen the field of electrolytic methods. Electrolytic methods are ideally adapted to hydroelectric development, for the load is constant throughout the full twenty-four hours, and the cost of both installation and operation of hydroelectric plants is not appreciably greater when operating for twenty-four hours than when operating for eight or ten hours; whereas, in fuel-power generation, as also in smelting, the cost is more or less in proportion to the fuel and power used. Nevertheless, fuel-power generation presents advantages in electrolytic methods, as the power plant may be located in a favorable place while the leaching and electrolytic plants may be located at the mine. The ultimate possibilities of the wet methods have yet to be determined. The possibilities of smelting have been thoroughly worked out; there is no unsolved major problem in copper smelting, and it has practically reached the limit of its possibilities. It seems hardly probable that any future improvement, either of method or apparatus, will greatly

Jan 1, 1924

IN CHAPTER I it was shown that the approximate market value of the copper produced at the twelve big Porphyry mines from 1905 to 1931, inclusive, was $2,821,300,000. This represented the refined metal ready for shipment to the consumer. In addition, at least $50,000,000 worth of gold and silver had been produced, more than $30,000,000 coming from the Utah mine alone. Consequently, the revenues totaled about $2,871,300,000, as shown in Table 58. Society paid this sum for a given quantity of metal that it wanted for industrial use. Where did the money go? Who were the direct beneficiaries of the creation of this new wealth? These questions this chapter will answer in a general way. Because some necessary data are not available, an exact tabulation in detail can not be made, but Table 58 is believed to reflect with reasonable accuracy the disposition made of the aggregate income from the twelve operations. The word "operations" is used advisedly because the complexity of corporate relations precludes the possibility of picking out companies, as could be done if each enterprise were an independent entity such as Miami, for example. Some explanation of the table and some elaboration of the items under "Outgo" is desirable. In the first place, it is assumed that the sum of surplus current assets existing in various treasuries at the end of 1931 was substantially equivalent to the “new” money that actually was put into the enterprises as a group. Less than $20,000,000 in new capital was realized from securities sold by the Utah Copper Co., the remaining funds coming from earnings. In respect to some of the others, such as Chuquicamata, Inspiration, and Andes, the amount of new money was much greater. However, of the two items-total new capital invested and total current surpluses-the former

Jan 1, 1933