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By C. C. Whittier

PLANS are well matured for the joint meeting of the Coal Division and the Ohio Section of the Institute at Columbus, Ohio, Oct. 27 and 28, at which a large attendance is expected. The proceedings for a day and a half will be devoted largely to the uses of coal, the program providing for two technical sessions in the auditorium of Battelle Memorial Institute (505 King Ave.) on Friday, and various plant inspec¬tions on Saturday morning. By way of diversion on Saturday afternoon arrangements have been made for attendance en bloc at the football game between Ohio State and Northwestern, 100 seats having been reserved for the game at $2.40 each-as long as they last. An inventory of the high lights of the meeting would be incomplete without reference to the informal banquet at the Deshler-Wallick hotel on Friday evening, for which Eli T. Conner, Chairman of the Coal Division, is down for a talk, and Howard N. Eavenson, Vice-president of the Institute, will be the principal speaker. The program in detail is as follows:

Jan 1, 1933

By E. J. KENNEDY

METHODICAL AND EFFECTIVE: thus may be characterized the fall meeting of the Iron and Steel and Institute of Metals Divisions at the Hotel Statler, Buffalo, N. Y., on Oct. 4 and 5. Approximately 200 registered. Interest centered 1111 the technical papers which were keenly followed, with substantial discussion: During the entire week of the National Metal Congress (Oct. 3 to 'i), there were also other sessions of interest' to metallurgists, directed by the America11 Society for Steel Treating, American Welding Society, Production Division of the Society of Automotive Engineers, the Iron arid Steel and Machine Shop Practice Divisions of the American Society of Mechanical En,' the Wire Association and the American Drop Forging Institute. The National Metals Exposition at the 174th Regiment Armory was well attended.

Jan 1, 1932

By Oliver Bowles

PRICES of quartz sold in the United States in 1938 ranged from $1.15 to $36,000 a ton. This startling variation was due simply to the differences between glass sand and rock - crystal, materials that are virtually the same in composition. It illustrates the complexities in qualities, uses, and values of industrial minerals. It is generally stated that mineral deposits are exhaustible resources which can never be replaced when depleted. This statement is no longer true with respect to certain industrial minerals now recovered in increasing quantities from that most inexhaustible of all sources of supply, the ocean. Salt has long been obtained from sea water, particularly on the Pacific Coast, and reference was made a year ago to the large bromine recovery plant at Wilmington, N. C. Now the Westvaco Chlorine Products Corp. is operating a large plant at Newark, Calif., having a capacity sufficient to recover daily from the ocean raw materials that will produce 60 tons of various magnesium products. Lime is used to precipitate the magnesia from salt-water bittern. The products are chiefly magnesium carbonate for chemical uses, periclase and other refractories, and oxychloride cement for flooring.

Jan 1, 1939

By H. A. Wheeler

IT may surprise some of our members to learn, among the industries based on the mineral resources of the United States that of clay now ranks third, being exceeded in value of product only by pig-iron and coal. The present annual value of clay-products exceeds the value of the outputs of gold and silver, and also exceeds the combined values of copper, lead, zinc, aluminum, mercury, antimony and nickel. These facts are shown in Table I. which gives the statistics for the year 1902

Jan 1, 1905

By William P. Shinn

Jan 1, 1880

.MAX ROESLER, Firmeza, Oriente, Cuba (communication to the Secretary?).-It is substantially admitted by all who have recently been in touch with these deposits that the orebodies lie in the fine-grained dark-green rocks, called diorite by most writers and diabasic by myself. The three points of disagreement concern the agency of included limestone blocks as causes of deposition, the agency of the

Jan 5, 1917

By A. J. WADHAMS

THE relative importance of things is a fascinating subject for thought. As we look about us we realize the Creator of all things has provided the metals for our use, each in the quantity needed-iron in vast quantities gold in small quantities. Had gold been given us in the quantities of iron, the mechanical age mould Eave been very different. You may find some pleasure in running over in your mind this question of the quantity available of an element and man's need of it in the scheme of things. Nickel in this sense is a middle group element. It was not essential to man's early development. Its usefulness dates back only about one hundred years. The quantity available to man has increased as his needs in- creased. On two occasions more nickel became available than was needed and on both of these occasions the ex- cess was soon absorbed by new and useful developments.

Jan 1, 1929

By T. Sterry Hunt

Jan 1, 1891

It is probably safe to say that, as the economic well-being of the mining industry goes, so goes the fortunes of mineral explorationists. And in 1977 the industry was not well at all. The year-long depression of the copper industry, marked by layoffs, temporary shutdowns, and mine closures, provided an appropriate background for the collapse of the nickel market, passage of a surface mining law that will affect the hard-rock industry in ways that are yet unclear, and the threat of operating under a new set of rules brought on by reform of the Mining Law of 1872.

Jan 5, 1978

By Victor G. Hills

CONTRARY to what seems to be the general impression, the island of Cyprus was not named for the metal copper, but the reverse was the case. The origin of the name is entirely lost. The ancient city Kition, the birthplace of Zeno, is supposed to be the same as Kittim mentioned in Gen. x, 4; Jeremiah ii, 10 and Ezekiel xxvii, 6, and Josephus states that this name seems to have been applied to the city and also to the island itself. Cyprus is 50 miles off the coast of Asia Minor. The mountains on the mainland are plainly visible across the sea from where I write six miles from the shore of Morphou bay. It is 200 miles from Joppa the port of Jerusalem, and 250 from Port Said. The shape of the island is like a lizard, the tail pointing directly toward the old city of Antioch near the northeastern corner of the Mediterranean. The island was once heavily timbered. Among the great trees the cedars were said to even excel the famous cedars of Lebanon. The Odyssey refers to it as the "sweet smelling island" and makes other references. But the continual wars of every race and age completely stripped it of its timber, and for centuries it has been woefully barren. There are two ranges of mountains. One borders the north coast and runs out in a slim rocky ridge forming the "tail." The other occupies the southwestern part of the island, the highest point being Mt. Troodes 6600 ft. high, sometimes called Mt. Olympus. Whether or not it be the Mt. Olympus, anyway right around there the ancient gods and godesses frequently "started things." These peaks are in plain sight 10 miles south from where I live.

Jan 1, 1926

By T. A. Rickard

The writing that is effective is woven with a fine texture into an agreeable pattern; it is free from knots, loose threads, and stray fluff. The instrument that weaves this literary fabric, whether it produce a homely sock or a lordly tapestry, a simple story or a learned 'Itreatise, is a disciplined intelligence, as sure as a steel needle, as precise as a swift loom. The simile breaks down at this point, for the product of the pen is instinct with the human spirit and therefore transcends in beauty anything made by a mere machine. If words are to be woven into eloquent meaning, they must be well knit. Upon the relation of words to each other and of groups of words to other groups, known as phrases, clauses, and sentences, depends the success of writing as a means of trans¬mitting thought from man' to man. To be understood beyond question, you should know not only what your words denote but how to build your sentences; you must not only choose your words aright but construct your sentences properly. A sentence is a combination of words that makes complete sense; it says something about something. ' A clause is a subordinate sentence or a sentence within a sentence. A phrase is a group of words without a predicate; it makes sense, but not complete sense. For example: I shall wait for a few minutes before I go home: The whole statement is a sentence; "I shall wait" and "before I go home" are clauses; "for a few minutes" is an adverbial phrase. The orderly arranging of words and of combinations of words is called `syntax'; and from the original Greek form, ouvaeis (suntaxis), is derived the Greek name for an editor,

Jan 1, 1931

By CHARLES COURT

I must tell you at the outset that I come to this conference deeply disturbed at the 'role of Government in international dealings in mineral and energy resources'. I am disturbed by- the confusion that now passes for policy. I am disturbed by the short- range view of critical problems taken by a majority of Governments. I am equally disturbed by the even shorter range of view taken by a growing army of industries. Many of them clamour for Governments to solve their problems in a specific way, with little regard for any other sector but their own-and with even less regard for the fact that every time a Government takes over some of their responsibilities they surrender some of their freedom. I would not say that longer range views don't exist. But I would say that they don't prevail at the present time. Instead, we are seeing the constant development of many policies for individual problems which don't tackle the fundamental causes. We must get back to basics without delay.

Jan 1, 1978

By JAMES SCULLY

For the last 4 years political leaders have found a new subject on which they can safely generalize wihout creating opposition. That subject is commodity prices. Since the four-fold increase in OPEC crude oil prices, public attention has focussed as never before on the subject of commodity prices. To advocate stabilizing commodity prices is akin to supporting motherhood or peace or better schooling. Everyone gives lip service to the concept that stable commodity prices are desirable. It is easier to state the principle than to achieve it. Prices that are stable in terms of one currency may be clearly unstable in terms of a different currency. This has become a troublesome matter since 1971, when the world's leading trading currencies were set free to float in relation to each other. To illustrate: consider copper prices in the interval between the end of 1974 and the end of 1977. During those 3 years, the copper price in pounds sterling on the London Metal Exchange rose by 25 per cent. During that period, however, in terms of the USA dollar equivalent, the price was unchanged. And during that period, in terms of the German mark equivalent the price shrank by 13 per cent while the Japanese yen equivalent fell by 20 per cent. Thus a price that appears stable in dollars, rose in terms of pounds sterling and fell in terms of marks and yen. Had this result been achieved as a consequence of an international effort to stabilize prices, an American would have said the effort was successful. An Englishman would have said it had failed to prevent a price rise. And a German or a Japanese consumer would have been happy to have covered his copper needs at a lower cost in terms of his own currency.

Jan 1, 1978

By Clyde E. Williams

THIS review of the progress made in iron and steel metallurgy during the past year is confined to developments in this country. It attempts to give examples to illustrate progress made rather than to appraise results. As a result of the gradually diminishing supply of rich iron ores and of predictions made as to the probable life of the iron-ore reserves of the Lake Superior District, attention of iron and steel executives was directed to the question of beneficiation of iron ores. Laboratory and plant-scale experimental work was conducted on the wash ores .of Minnesota and an investigation, was, begun on the Old Range low-grade ores.

Jan 1, 1931

By John A. Gann

WITHIN a very few years magnesium has sprung from oblivion, from classification as a technically unknown, little appreciated, and expensive material to front-page importance in many fields of engineering. Bunsen may be considered the real founder of our present magnesium industry. In 1852; he prepared this metal by the electrolysis of fused magnesium chloride in a porcelain crucible. In the following years the electro¬lytic process became recognized as superior to chemical reduction methods and Germany became the world's chief producer, installing the first electrolytic magnesium plant in 1886. ' Thirty years later, national defense requirements, occasioned by the outbreak of the World War and the cutting off of imports, caused France, England, and the United States to begin production. Most of this magnesium was used for military purposes so the close of the war resulted in a large curtailment in production. A few companies, however, encouraged by the early success of the Germans and by the rapid developments taking place in aeronautics, and confident in the certain future and ultimate value of this metal, undertook extensive re¬searches in its production and utilization. A variety of production methods, both chemical and electrochemical, were investigated and some of them operated on a commercial scale. Reduction of the oxide with carbon at high temperatures and the electrolysis of the oxide in a fluoride

Jan 1, 1932

By AIME AIME

The 102d meeting of the Institute was held at the Institute headquarters in the Engineering Societies Building, New York, N. Y., on Feb. 19, 20 and 21, 1912. A Bureau of Information, in charge. of Mr. George Buckman, was maintained during the meeting. The proceedings opened with an informal social meeting on Monday evening, Feb. 19, in Assembly-Room No. 1, on the

Mar 1, 1912

FRED TURRELL GREENE Fred Turrell Greene was born in Brooklyn, N. Y., Nov. 22, 1872. His father, William A. Greene, was born in Providence, R. I., and his mother, Angenora Semlear, was born in Brooklyn, N. Y. Fred's early school clays were spent in Boston, whence his father moved to Canada in 1882. Attending first the Collegiate Institute in Toronto, .then the High School at Berlin (now Kitchener), Ontario, where he graduated, Fred progressed to the Toronto University and the Michigan College of Mines, at Houghton, where lie graduated in 1897. He secured employment almost immediately at Butte with the engineering force of the Boston & Montana Consolidated Silver Mining Co., under Chas. S. Batterman. In 1899 he went to Rossland, B. C., where he spent more than a year as mining engineer and assistant superintendent of the War Eagle Consolidated Mining and Development Co. and the Center Star Mining Company Ltd. Returning to Butte in 1900, he acted as assistant geologist for the Anaconda Copper Mining Co. until 1906, when he filled a similar position in St. Paul with the Great Northern Railway for about two years. From 1908 until his tragic death on Christmas day, 1917, his headquarters were in Butte, where he enjoyed an excellent reputation -as consulting mining engineer, with a rapidly widening circle of clients. During the past four years he had been consulting engineer for the Elm Orlu and other mines controlled by Hon. W. A. Clark, and was in charge of underground developments and law-suit preparations for the celebrated apex case between the Elm Orlu and the Butte & Superior companies. At the time of his death he was in charge of similar work for the Utah Metals Co., in connection with their mines at Bingham, Utah. He was also for some years active in the Coeur d'Alenes, as consulting geologist for the Federal and other companies there, and was considered an authority on this as well as the Butte district. Mr. Greene was unmarried, and is survived by his parents, a younger brother, who is in the army, and one sister, Mrs. James A. Hatch, of New York. Some of the most important and valuable ideas regarding the nature and origin of copper ores have originated in Butte, since that district is not only one of the greatest examples of mineralization known in any land, but has gone through a long course of mining litigation, and was, one of the first to be studied intensively by geologists. In connection with the early investigations, as well as with the most recent in that camp, Mr. Greene played an important part. His conscientious devotion to his duties and his intelligent handling of the problems presented for solution sufficiently explain the esteem in which he was held by his employers and his professional associates.

Jan 5, 1918

By Kyle Wightman

INTRODUCTION CRA Limited is the largest mining group in Australia by value of sales and the second largest company in Australia in terms of share market capitalisation. In the past 25 years, CRA, its predecessors and affiliates have been involved in a number of mining and further processing developments in Australia and elsewhere. Many of these have been financed using project financing techniques. These include Comalco's development of the Weipa bauxite deposits in Northern Queensland in the late 1950's, the Hamersley iron ore developments in the Pilbara region of Western Australia in the mid 1960's, the Queensland Alumina Limited alumina refinery in Gladstone, Queensland, at about the same time, and the Bougainville copper project in 1969/70. In the past three years CRA has again utilised project financing techniques to fund its Tarong steaming coal project in Queensland, the Blair Athol steaming coal project also in that State and CRA's interest in the Argyle diamond project in the Kimberley region of Western Austrlia. PROJECT FINANCE DEFINED Nevitt Definition Nevitt's is the most frequently quoted definition - "A financing of a particular economic unit in which a lender is satisfied to look initially to the cash flows and earnings of the economic unit as the source of funds from which a loan will be repaid and to the assets of the economic unit as collateral for the loan." Risk and Balance Sheet Treatment It is important to focus in more detail on two aspects of project financing, risk and balance sheet treatment. The assessment of the various elements of risk in a project and the sharing of that risk between sponsors and lenders is the most critical feature. At one end of the spectrum is full absorption of risk by the sponsor(s). This can be described as "on risk" or "on credit" or "full recourse" to the sponsor(s) and is effectively a corporate financing. At the other end of the spectrum the lenders absorb the whole risk in a non-recourse financing which is "off risk" or "off credit" for the sponsor. The other aspect is the sponsor's balance sheet treatment. If the balance sheet of the economic unit undertaking the project and the financing need not be consolidated into the balance sheet of the sponsor (because ownership does not exceed 50%) then the financing may be described as off-¬balance sheet. If consolidation is required then the financing is described as on-balance sheet. Most project financings involve some recourse to the sponsor, i.e. they are limited recourse. Very few are non-recourse or off credit to the sponsor. Limited recourse financings may be on-balance sheet although many may also be off-balance sheet insofar as consolidation is concerned. However, sponsor support may very well be a contingent liability to the sponsor and require disclosure by way of note to the balance sheet should consolidation not be required. CORPORATE FINANCE CONTRASTED A financing which is on credit or full recourse to the sponsor, whether it is directly borrowed or guaranteed by that sponsor, is a corporate financing. Lenders will tend to base their credit assessment on a historical assessment of the sponsor's activities and its financial results rather than an assessment of the project or a detailed assessment of the future activities and prospects of the sponsor. PROJECT FINANCE - A BORROWER'S PERCEPTION Although CRA could choose to arrange all finance on a corporate basis (except perhaps for the very largest projects or acquisitions), project financing techniques provide a number of specific advantages which CRA has noted and which should be carefully considered by a project sponsor. Advantages

Jan 1, 1985

By Howard N. Eavenson

DURING the past year, as in the preceding ones, prices continued to fall, production to decrease, and more mines were closed. Much attention is being given by the industry to suggested plans for betterment of its position, and if the scheme recently brought out for consolidation of sales agencies into district agencies is loyally carried out, it cannot but help to improve conditions. The progress in the anthracite industry is shown in the report of its chairman, E. H. Suender; changes in coal preparation are outlined in the report of J. B. Morrow, chairman of Committee on Coal Preparation, while increased mechanization of the western mines is described by Eugene McAuliffe, chairman of the Committee on Machine and Strip Mining. In spite of the depression, interest in the Coal Division has been increasing, its meetings have been well attended, and its committees are active and have been doing excellent work.

Jan 1, 1932

By Ellsworth Daggett

In the first paper on the Russell process presented by Mr. Stetefeldt, in May, 1884 (Transactions, xiii.), the process was treated from a purely theoretical standpoint.. 111 his second paper of October, 1886 (Transactions, xv,), the details of the plant, the chemicals used, and the manipulation in both mill and laboratory were treated. The aim of the present paper is to present economical results recently attained, new data affecting the preparation and manipulation of ore in the mill, and a more complete and systematic scheme of laboratory work. This paper is compiled mainly from Mr. Russell's notes of his own experience. Many of these notes, particularly those relating to work at Cusihuiriachic,* Mexico, have been upon work directly under the personal observation of the compiler, who takes pleasure in thus presenting to the Institute, data and considerations of much interest and value pot only to users of the Russell process, but to mill men generally. The description of the chemicals used and of the preparation of the mill-solutions being' in part the same now as when Mr. Stetefeldt's second paper was published, some use is here made of portions of that paper. No theoretical matter is here given. For a treatise containing also the theory of the process the reader is referred to Mr. Stetefeldt's complete work on " Lixiviation of Silver Ores by Hyposulphite Solutions," now in preparation. To facilitate the consultation of this paper, the following synopsis and index is prefixed. The figures in parenthesis indicate the page of this paper on which the subject is treated.

Jan 1, 1888