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By Otis M. Clarke

The Eufaula bauxite-kaolin district in southeastern Alabama is an important source of raw material for the refractory industries in the United States. At the present time, five companies are mining and processing bauxite and kaolin from this district and a sixth company is holding substantial reserves. Mining operations are expanding, but finding new ore reserves is a major problem. The Geological Survey of Alabama sponsored geologic research in the Eufaula district to: (1) investigate the

Jan 1, 1973

By John A. Gann

The following investigation constitutes a brief réumé of the more important binary magnesium alloys from the standpoint of metallo-graphic technique, and the effect of heat treatment on structure and properties. The comparative newness of the subject justifies this procedure as a preface to a more detailed study of each individual series of alloys. The work was started with the idea of practical application in the industry rather than as a theoretical investigation. The alloy compositions studied were selected as those most likely to show whether heat treatment would produce beneficial results. Furthermore, it was considered satisfactory to use commercial 99.9 per cent. magnesium, the best commercial grade of alloying ingredients, and to limit the time of heat treatment at the expense of incomplete equilibrium. These facts must be kept in mind when examining the results obtained, and the conclusions drawn. Preparation of Alloys All melts were made in an oil-fired cast-steel pot, approximately 12 in. dia, by 12 in. deep. Approximately 15 lb. of flux and 50 lb. of magnesium were melted and the calculated amount of alloying metal was added. After thorough alloying and puddling, the metal was chill cast in a graphite mold with four 1/2 by 1/2 by 4 in. bars fed from a common sprue and runner. The next higher composition alloy in a given series was made by adding the calculated amount of metal to the heel from the preceding cast. The pot was thoroughly cleaned after each series and new flux then introduced, thus avoiding possible contamination from earlier melts. The percentage compositions given in Table 1 are the calculated values. While not all alloys were analyzed, enough were checked to indicate that the reported compositions are correct to a few tenths of one per cent. A more detailed description of the foundry methods employed has been given in a previous paper. 1

Jan 1, 1929

By John A. Gann

The following investigation constitutes a brief réumé of the more important binary magnesium alloys from the standpoint of metallo-graphic technique, and the effect of heat treatment on structure and properties. The comparative newness of the subject justifies this procedure as a preface to a more detailed study of each individual series of alloys. The work was started with the idea of practical application in the industry rather than as a theoretical investigation. The alloy compositions studied were selected as those most likely to show whether heat treatment would produce beneficial results. Furthermore, it was considered satisfactory to use commercial 99.9 per cent. magnesium, the best commercial grade of alloying ingredients, and to limit the time of heat treatment at the expense of incomplete equilibrium. These facts must be kept in mind when examining the results obtained, and the conclusions drawn. Preparation of Alloys All melts were made in an oil-fired cast-steel pot, approximately 12 in. dia, by 12 in. deep. Approximately 15 lb. of flux and 50 lb. of magnesium were melted and the calculated amount of alloying metal was added. After thorough alloying and puddling, the metal was chill cast in a graphite mold with four 1/2 by 1/2 by 4 in. bars fed from a common sprue and runner. The next higher composition alloy in a given series was made by adding the calculated amount of metal to the heel from the preceding cast. The pot was thoroughly cleaned after each series and new flux then introduced, thus avoiding possible contamination from earlier melts. The percentage compositions given in Table 1 are the calculated values. While not all alloys were analyzed, enough were checked to indicate that the reported compositions are correct to a few tenths of one per cent. A more detailed description of the foundry methods employed has been given in a previous paper. 1

Jan 1, 1929

By Dwight L. Sawyer

IF it had not been for the testimony of former Secretary of the Interior, Harold L. Ickes, before the Senatorial investigating committee the public would have heard little about the Federal Government's suit against California for the ownership of the tidelands. The Ickes-Pauley dispute brought to public attention that the California tideland oil deposits are the last remaining large Federal oil reserves. Ickes contends that these tideland oil deposits belong to the nation for the benefit of all the people of all the states and not solely to the State of California. Ickes also accused California oil man Ed Pauley of offering to give $330; 000 to the Democratic party fund if Ickes would drop the Federal Government's suit against the State of California for the ownership of said tidelands. The tidelands may be considered as the land bordering the coast line between mean high tide and outward under the ocean for a distance of a marine league, or about three statute miles. This strip of land along the coast of southern California contains large oil deposits which have a present and future prospective value of several billion dollars.

Jan 1, 1947

By E. L. Corp, J. C. Johnson, W. G. Pariseau, M. Poad, M. E. Fowler

This paper describes a comprehensive geomechanics case study of a full¬scale test stope at the Carr Fork Mine. The mine is owned by Anaconda Miner¬als Company and is located near Tooele, Utah. Large diameter blast holes were used in a new method known as blast hole post-fill (BHPF). The new design proved highly successful in contrast with earlier experience with vertical crater retreat (VCR) stopes. The main geomechanics objective was the estab¬lishment of a design procedure for optimizing stope and pillar dimensions with respect to productivity and recovery. An integrated three-part approach consisting of mine measurements, laboratory testing and finite element calcu¬lations was taken. Independent correlations of 0.88 and 0.89 between calculated and measured displacements and between estimated and observed yield :ones substantiate the finite element design approach using UTAH-II. Subse¬quent stope and pillar design analyses indicate that doubling of the original stope width at 50% extraction is quite possible without sacrifice of safety or stability.

Jan 1, 1984

By AIME AIME

THE following paragraphs, constituting the concluding portion of the Annual Report of the Council for 1903, have been withheld from publication until now, in order to make them as accurate and complete as possible. They will be published in Volume XXXV. of the Transactions in their proper place at the end of the said Annual Report. Franklin Ballou was born in Pittsburg, Pa., May 29, 1845. He was the son of an old resident, Arthur Ballou, a manufacturer and wholesale dealer in vinegar. In early youth Franklin attended the Western University of Pittsburg, but left school at the age of 16 to become book-keeper for his father, upon whose retirement from business, in 1868, he associated himself with Walter C. Childs, of Pittsburg, in the manufac¬ture of furnace-grates and asbestos-cement for blast-furnaces. This firm was known as W. C. Childs & Co., and did a success¬ful business for several years. In 1869 Mr. Ballou married Miss May S. Wilson, daughter of Judge Wilson, of Lewistown, Pa. In 1876 he spent several months traveling in the West and studying the mining industry, which greatly interested him. In consequence of this journey, he wound up his business in Pittsburg and removed in 1877 to Georgetown, Colo., where for several years he conducted a sampling-works, and built up an extensive business as an agent for the sale of ores, besides engaging to some extent in mining enterprises. , It is said that he controlled at one time about one-eighth of the output of the Leadville mines. In the early 80's, he became Vice-President and General Manager of the Bimetallic Smelter at Leadville, of which Mr. David H. Moflat was the principal owner. This was practically the first successful demonstration of pyritic smelting in Colorado. Upon the sale of the works in 1897 to the American Smelting and Refining Co., Mr. Ballou retired

Jan 1, 1905

By M. D. Hassialis

THE object of a technical paper is to communicate new technical knowledge, the paper being the vehicle of communication and the existence of new knowledge its reason for being. It follows that the development of information worthy of communication, the criterion being novelty, is prerequisite to exercising the privilege of communication. The act of communication is achieved when the reader perceives the nature of the new knowledge, i.e., when he understands it. A paper achieving this objective is an acceptable technical paper. Development of new knowledge has as one of its purposes the increase of the existing state of knowledge and the enjoyment of the benefits derived therefrom. Technical knowledge is a collection of facts so ordered as to make apparent, relations existing between the facts. When the interrelations have been exposed the facts have been interpreted or explained Three broad, overlapping categories of technical papers may be recognized: papers consisting of (a) a report of facts, (b) an explanation of facts, or (c) a combination of a report and an interpretation. Ideally a technical paper should belong to one of the last two categories but current practice is to accept papers belonging to any of the three categories. Based on a small sample drawn from the scientific and engineering literature, the relative frequency of the three types is a: b: c:: 20:1:14. If the sample be limited to engineering literature, the ratios become a:c::2:1; type (b) being nonexistent. This large departure from the ideal is a consequent of the

Jan 1, 1948

By Harold A. Krueger

FACILITIES and mining operations of the National Lead Co., St. Louis Smelting and Refining Division, near Fredericktown, Mo., are situated in a famous mining area. Copper, lead, nickel, and cobalt have been mined here for more than 100 years, work having been started on a high sulphide copper outcrop in 1847. Lamotte sandstone is characterized by differential compaction on a rigorously eroded pre-Cambrian surface. The Bonneterre formation was therefore a good host for minerals not generally found in mineable quantities in these midwestern areas. Unusually complex minerals, however, make beneficiation difficult, and because of irregular ore thicknesses and elevations many engineers and operators have not attempted to mine the property. Others have tried who failed. This paper deals with economic, efficient, and competitive methods of mining these highly irregular orebodies, as compared to the open-stope, room-and-pillar methods normally used for horizontal-bedded lead deposits. For the purpose of this study it should be understood that the ore is found in two distinctly different types of occurrences, one to be designated as basin ore and the other as contact ore. Mining of basin ore is complicated by many faults, fractures, cross faults, and breaks. Contact ore is complex because it is found on flanks or slopes of pre-Cambrian knobs or highs. The dip of the mining floor for the latter type varies between 18" and 45". Occurrences of both types of ore are complicated by water courses or solution channels which carry unconsolidated shale, lime, sand, and dolomite. This material is also found between the bedding planes of the members of the Bonneterre formation. The water found where there are fractures, faults, and channels makes it very fluid and tacky, see Fig. 1, particularly after it has been blasted and handled by loading and hauling machines. Much of the ore can be wadded and thrown without dispersing. During early operations by the Buckeye Copper Co. in 1861 and the North American Lead Co. from 1900 to 1910, conventional narrow-gage railroad and side dump mine cars were used with hand shoveling. The complications of mining the contact ore, the only type attempted at this time, can be appreciated when it is realized that operators were obliged to use mules for haulage. Haulageways constructed on these slopes were of necessity similar to wagon trails or goat trails up the side of a mountain. In other words, it was merely a matter of going from side to side of the strike length of the slope, gaining a little in elevation on each shuttle trip. Production totaled only one to two tons per manshift. A few years later, about 1913, the property was purchased by combined Canadian interests known as the Missouri Cobalt Co., and the use of trolley locomotives was initiated. Between 1900 and 1928 a land agent using churn and diamond drilling methods prospected scattered sections of the area. In 1928 the first property was purchased by the present company, then operating as the St. Louis Smelting and Refining Co. Check drilling and prospecting was carried out by the company at various times between 1928 and 1939 to correlate the erratic mineralization. Much information about both types of orebodies was accumulated, but it was still questionable as to whether money should be invested to work these occurrences. In anticipation of high lead and copper prices, about the time World War II started, it was decided to develop and bring into production some of this ore. In 1942 No. 1 shaft was put down on the largest basin-type orebody and in 1943 No. 2 shaft was put down on contact-type ore. Operations were expanded when No. 3 shaft was completed in 1943, and progressed further in 1948, when National Lead Co. dewatered and opened No. 5 and 6 mines, old workings of the North American Lead Co. and the Missouri Cobalt Co. Because of the differential compaction of Lamotte sandstone over the pre-Cambrian porphyry, in some instances mineable thicknesses of basin-type ore occurred 20 to 30 ft above the sand. This is the exception rather than the rule, since most of the mineralization starts at the sand and is variable in thickness. The ore was attacked, therefore, by development drifts and crosscuts at the lowest possible elevation, where the ore immediately overlying the Lamotte sandstone could be drained and made accessible for mining. It was planned to connect to the drifts and crosscuts with raises to mine ore deposited 20 to 30 ft higher. The higher orebodies were thus mined as slusher levels. Slusher hoists were used to drag the ore into the raises, which were made into hoppers. The ore was then loaded into 32x32-in. ore cans, hauled to the shaft by battery locomotives, and hoisted by the conventional Tri-State method. The rate of efficiency was 5 to 6 tons per manshift underground. The contact-type ore was attacked in a similar way, except that the orebodies were not nearly so wide, so that they were more flexible for slusher loading into cans. This advantage was offset, however, by haulage complexities, since the railroad was constructed on steep slopes. Through experience and ingenuity, many improvements were made in mining both types of ores. The two levels, so-called, in the basin-type ore-bodies were connected as previously planned, more efficient locomotives replaced the older ones, and a

Jan 1, 1954

By E. A. Breitenbach

A computer program has been developed to afford rapid and complete quantitative log analysis for exploration and production decisions. The computation consists of automatic selection of tops and bottoms of porous intervals from the digitized data, and then point-by-point calculations within each selected interval. Nearly all log types can be analyzed. This paper presents the calculation techniques found to be appticable to machine evaluation and gives examples of their use. INTRODUCTION As the quantitative interpretation of well logs entails repetitive use of charts and equations, it is natural that digital computer programs would be written. A Universal Log Interpretation Computer Program (ULICP) has been developed to afiord rapid and complete analysis for exploration and production decisions. Application of this program enables the log analyst to: (I) apply rapid quantitative log analysis for exploration and production decisions on either a field, a well or on a single zone basis; (2) apply concepts of interpretation requiring detailed numerical analysis; (3) analyze all porous intervals on each log, rather than a few selected zones, and complete the analysis in less time than previously required. Computations are reported for every digitized point in each zone; (4) use empirical techniques applicable to a given area as an integral part of the computation; (5) experiment with the empirical coefficients and exponents in the interpretation equations to find the best possible solution; and (6) automatically plot both the original and computed data to scales analogous to the field prints. The primary utility of a log interpretation program stems from its ability to do an overwhelming amount of work with very little man-power. If a calculation procedure or thought process can be formalized to the extent that step-by-step logic can be written, a computer program can be developed that follows this logic. The major question is one of economics. A feasibility study of the costs for such a program indicates that digital processing is economical primarily as a means of increasing the productivity of the log analyst. In effect, the probability of missing productive intervals in any well, because of a lack of time to do detailed calculations, is greatly reduced. The nucleus of ULICP is programmed to compute large sections of a suite of logs by selecting zones automatically and then performing all pertinent computations on a data point by data point basis within each zone.'.' An entire suite of logs can be processed in this manner with very little manual intervention. Sufficient programming logic is available so that each log analyst can request computations pertinent to his area. These requests are made by simple additions or deletions of information on the input header cards. Hence, the log analyst is always in complete control of the computation process. The evaluation of a suite of logs requires pre-editing, digitization, computation, presentation of results and interpretation. Work by the log analyst is reqilired only in pre-editing and interpretation. Thus, he is allowed more time for comprehensive interpretation, rather than calculation. For continuity, the discussion of ULICP is organized sequentially: pre-editing, digitization, computation and presentation of results. DISCUSSION PRE-EDITING The extent of pre-editing prior to computation is dependent on the format of the original data. For analog prints, it requires inspection, correlation and editing of the logs, plus the entering of required data an special forms. For digitized data such as magnetic tape field recordings, only the special forms are necessary. The process for analog prints will be given here. The inspection and correlation process involves the selection of sections for digitization and the correlation of the traces to a common depth. To decrease the cost of digitization, traces that exhibit large variations in shale formations can be redrawn to a non-zero baseline. The next step is to enter all pertinent data on the input header cards. The header cards presently used for ULICP are presented as Figs. 1 through 6. Cards 1, 2, 3 and 4 (Fig. 1) are defined as the Main Header Cards. They describe the particular well for output identification and give basic information. Cards 5 through 15 (Figs. 2 through 6) are defined as the Block Header Cards. As such, they define the log types and the interpretation parameters for the block of data immediately following. Cards 1 through 10 are required for every computer run. Cards 11 through 14 pertain only to nuclear logs. Card 11 is required if any nuclear log is supplied, and cards 12 through 14 are required only when gamma-ray, density or neutron log data, respectively, are supplied. Card 15 (Fig. 6) must be supplied when cross-plot calculations are required. Either two- or three-component

Jan 1, 1967

By I. M. Roberts

THE war emergency has affected every phase of industry. The gas and coke-oven companies have sought faithfully to discharge their responsibility in this critical period and have willingly modified their operations where possible to meet the ever increasing demands made upon them. Our company made commitments for blast-furnace coke for war purposes which necessitated a reduction in coking time in order to produce the amount required to. meet the new demands. At the same time there were certain customers of long standing, who had been supplied with foundry and egg-sized coke produced on fairly long coking periods, who also were engaged in war work and whose patronage we desired to retain. Coke produced on short coking rates from the coal mixture we were then using would not have been satisfactory for these customers. The average width of our ovens is 19 ¾ in., which is a little wider than the more modern ovens of the present day. They were originally designed to give somewhat cool tops in order to produce a rich gas. This necessitates carrying the heats a little on the warm side so that the tops will be fully carbonized. A reduction in coking time, as is generally known, is accompanied by a reduction in the average size of the coke produced. This is due to the greater shrinkage that takes place at the higher temperatures required to carbonize the charges in a shorter time. The net result is that the coke is more cross fractured and longitudinally fractured and breaks up into small sizes on handling. The cokes produced from the better coking coals seem to be more susceptible to fracture at high temperatures than those from poorer coking coals. A coal mixture that produces a beautiful foundry-sized coke at 30 to 36 hr. may yield a product at 18 hr. that would be so badly fractured as to be unsatisfactory for foundry practice. COKING CHARACTERISTICS OF COALS Our problem was to find some economical innovation and develop a method that would enable us to reduce the coking time and still produce a coke satisfactory to our foundry trade. However, before discussing the results of our present operations, it might be well to present a few observations on the coking characteristics of coals in general. Most coke-oven operators carbonize a blended mixture of coals. It may consist of a single high-volatile coal with a single low-volatile coal, or of a combination of several high-volatile and low-volatile coals. Medium-volatile coals of the Eagle seam are used for the production of high-grade foundry coke. Medium and high-volatile coals are often blended with one or more low-volatile coals. The possibilities are almost infinite, but the combinations are limited by such factors as cost and facilities for handling multicoal mixtures, and by other practical considerations. Every coal has characteristics that make it blend better with a particular coal or coals in preference to others. This property has

Jan 1, 1944

By PHILIP N. MOORE

THE development of the power of the Tennessee River at Muscle Shoals has become a matter of political interest as well as engineering possibility. The controversy over it has been so active that the facts have been obscured, the possibilities exaggerated. Although the members of the American Institute of Mining & Metallurgical Engineers are not generally specialists in hydroelectric development, those who visited Muscle Shoals in October, following the Birmingham meeting of the Institute, were interested, and many of them surprised to learn the actual conditions. These have long been familiar to those who have studied the matter through the reports of the U. S. Engineers on the subject. The approved plan contemplates three dams-No. 1, a low dam close to the City of Florence, planned in the interests of navigation, since the construction of the other dams has rendered impossible the use of the river without it. No. 2-named the Wilson Dam is now under construction. Concerning it political argumentation has waged. No. 3 Dam-much smaller, is planned to be erected several miles above No. 2.

Jan 1, 1925

By F. F. Aplan

Mineral processing engineers have recorded an- other year of active research and development work. Most gratifying was the broadly based attendance at the Mineral Processing Fundamental (formerly Basic Science) Committee sessions at the 1968 Annual Meeting of the AIME. Because of the availability of good papers, the active discussion and the growing attendance, sessions have grown from one to three at the annual meeting. Prof. M. C. Fuerstenau of the University of Utah will chair the Mineral Processing Fundamentals Committee for the next two years and we may thus be assured of continued active leadership. The name change from "Basic Science Committee" to the more descriptive "Mineral Processing Fundamentals Committee" approved by the MBD executive council is a welcome improvement. Our profession continues to attract the interest and cooperation of those in other professional groups. The 1968 Engineering Foundation Particulate Matter Conference, under the chairmanship of John Karpinski of Bethlehem Steel, was devoted exclusively to comminution this year. It attracted conferees from five continents and served as a particularly stimulating source of interchange of knowledge from many technical fields. Next year's conference will be under the chairmanship of Professor L,. G. Austin of The Pennsylvania State University. This conference plus the Symposium on Wettability and Flotation to be held at the annual American Chemical Society meeting in Minneapolis in April indicates the success achieved in the inter-disciplinary approach to problems. Other evidence of this spirit of professional cooperation is the forth- coming book on Size Reduction edited by D. W. Fuerstenau. This is the outgrowth of an AIChE symposium on size reduction held in 1965.

Jan 2, 1969

By Peter J. Maxworthy

INTRODUCTION There is no hard and fast rule on whether functions within a company, diversified or otherwise, should be strongly centralized or decentralized. In all diverse organizations, there are certain basic functions which remain common (or central) to each element of the business, viz: Personnel Management Cash Management Taxation Management Legal Planning Accounting Standards It would follow that each of these common factors requires some supervision at a central level to ensure that overall group objectives are met. It is true that other functions including: Industrial Relations Marketing and Distribution Production Research and Development Purchasing Management Accounting may also be common to each element of the organization. However, there is far less commonality in the degree to which these functions are central to the efficient performance and financial well-being of the business. Role of Operating Units The resources of operating centers may be viewed as a bank of funds, the nature of which can be changed from time to time, but the employment of which must provide for ongoing increases in the net worth of the total enterprise expressed in terms of market values. Operating units are required to continually review products, methods, and opportunities and to monitor avenues for incremental investment--all with a view to attaining the necessary additive net present value of future cash flows of the enterprise. Operating units should be permitted sufficient autonomy to enable the best use to be made of the skills and experience of the people it employs in order to produce a return appropriate to the value of assets employed. Role of Head Office The head office will typically comprise a specialist group--the leaner the better if one strongly adopts the decentralist approach--often acting as Service Centers but also performing a control function in the corporate sense. The head office function is a cost center. It may be instrumental in developing strategies for increasing revenues or reducing costs on a group scale, but it does not generate revenue. Every dollar spent on this function is an extra dollar to be generated by the operating centers in order to achieve an increase in corporate wealth. TREASURY MANAGEMENT Treasury management is concerned with the provision of finance, cash-flow management, and risk analysis. Each decision taken within the enterprise has a cash implication. It follows that a well-integrated central Treasury function can, in all likelihood, produce economic benefits. The degree to which the function should be centralized depends largely upon the unique nature of the operating units it is servicing. Levels of ownership, the calibre of unit operating managers, and the nature and geographic distribution of the business are all factors determining the degree to which the Treasury function is centralized. In the case of Peko-Wallsend, the Treasury Department is small, comprising four people. While divisional cash-flow management is largely decentralized, Treasury is responsible for the daily management of funds surplus to the immediate needs of operating units. Treasury also operates as central banker and provides funds to

Jan 1, 1985

By Donald B. Gillies

TO me a graduating class of engineers constitutes one ' of the finest inspirations I can imagine. You have finished your four- year scholastic career and are starting out in competition with thou- sands of other young men from other universities to make your mark. Be- cause of your training you men are such an essential part of our present- day civilization that a great weight of responsibility rests on your shoulders, especially at this time, for this is an engineering era. Today, it is the engineer who dreams the dreams and makes our civilization better. It's the engineer who carries those dreams into realization and fulfillment. No matter where we go in business and industry, we find- engineers in key positions, charged with great responsibilities.

Jan 1, 1939

By Dr. O’Neil Thomas J., Donald W. Gentry

"We can easily represent things as we wish them to be..” -Aesop INTRODUCTION The first eight chapters of this book have primarily addressed the concepts and fundamentals associated with project valuation, particularly as they apply to mining-related projects. Specific emphasis was placed on the engineering and economic parameters and estimates necessary for quantifying line items in pro forma income statements and the subsequent calculation of net annual cash flows. Given these estimates of relative benefits, costs, and annual cash flows for a project, it then becomes necessary to convert these estimates into measures of relative desirability or attractiveness. The criteria and techniques typically utilized to determine project acceptability or desirability are, then, the topics of discussion in this chapter. Before proceeding it may be advantageous to put the problem of project evaluation into proper perspective by reiterating some of the fundamental concepts developed in Chapter 1. The basic premise set forth in this book is that the objective of the firm should be to maximize its value to its owners (stockholders' wealth). This value or wealth is represented by the market price of the firm's common stock; consequently, the primary objective of the firm can be restated as one of maximizing the value (price) of the firm's common stock in the marketplace over the long term. This price, in effect, is an indicator or index of the market's perception of the company's progress and a reflection of the investment, financing, and dividend decisions made by corporate management. These three major decisions are inter- related and jointly impact the market price of the firm's stock. Therefore, if the objective of maximizing the value of the firm to its stockholders is to be achieved, an optimal combination of the three decisions will be necessary. It is important to emphasize that maximizing stockholder wealth is not the same as profit maximization or even the maximization of earnings per share. Corporate managers making decisions based on the objectives of maximizing profits and/or earnings per share must recognize that these objectives do not consider: (I) the timing or duration of expected returns, (2) the business and financial risks of the promised earnings, or (3) the dividend policy of the firm. Obviously all of these factors are of concern to the company's stockholders and will have an effect on the market value or price of the firm's common stock. Maximizing market price per share, or wealth maximization, is therefore the appropriate corporate objective and

Jan 1, 1984

By G. A. Vissac

O. R. LYONS *—I wish to thank Mr. Vissac for his compliment. I hope that his paper is not only well received, but that it will serve to bring forth more papers on the subject of thermal drying. One of the primary purposes of the work performed by Battelle for Bituminous Coal Research in investigating the thermal drying of coal was to stimulate other investigators and to get them to contribute their knowledge in the form of papers such as this one. We at Battelle and the personnel of Bituminous Coal Research are very gratified that Mr. Vissac and other persons have responded in this matter of the thermal drying of coal. I wish to state that I think that Mr. Vissac's paper is a very clear and easily understood description of a method of calculating the design requirements for a screen type drier, and I think that it would be exceedingly valuable to operators and to those who intend to purchase any type of thermal drier and use it in the future, if the manufacturers or operators who have such information for other types of driers would provide the same type of information for the other makes of driers now on the market. 1 also wish to point out—an idea that is new to me, and I know is new to most of the operators of driers in the United States-—the idea of recovering the heat that is normally lost in the coal and in the exhaust gases. This heat is not being recovered at most (of the thermal drying operations in the United States, and the possibility of recovering it should be called to the attention of every single one of those operators. I know many of them have never given any thought to the matter, but they will be interested once they realize the ease with which it could be done and the savings that could be realized. I also wish to compliment Mr. Vissac for presenting the method of analysis that he uses to determine the difficulty of drying any particular coal. It is a very simple method, and yet it seems to me that it should be a very effective, very efficient method for determining the difficulty of drying for his particular problems. C. Y. HEINER*—I do not know that I can add anything very illuminating to what Mr. Vissac has said. I think anything that Mr. Vissac said in regard to coal drying is a contribution because, to my personal knowledge, he has studied the matter carefully for many years and made many valuable contributions. I am not too familiar with coal drying problems in the east, but I know in the west we have not made enough coal drying studies. I think coal operators too often just take the coal as it is and make more or less the best of it. There are relatively few washing plants in the west now, and so the problem has not come to the front as much as it probably will in the future. In this connection, it seems to me that this matter of drying the raw coal, as Mr. Vissac brings up, is an extremely important one. We have not a continuous miner ourselves, yet, but we expect to get some this year, and we think the percentage of fine coal-—that is, minus 3/16 in.—will double. We have about 20 pct minus 3/16 in. in the 8 in. by 0 size now, and we think we will likely have 40 pct, which will have a surface moisture of the order of 8 pct. To wash it satisfactorily, we will have to dry the raw coal first in order to screen it, and after that, I suppose, there will have to be dry cleaning of some sort. We have not really used dry cleaning on fines in the west yet to my knowledge, but it is a matter that has to be faced by the industry, and I am very hopeful that Mr. Vissac's study will assist us in that connection. W. L. McMORRIS*-In my company we are preparing largely metallurgical coal for a great number of byproduct coke plants. The most outstanding thing to me about the requirements of moisture in the finished product is that there is a different requirement for almost every coke plant. Each operator has a different set of factors on which he establishes his coking costs where they involve moisture. For our corporation operations in Birmingham, my company does not produce the coal, but in Birmingham they are getting away with moistures very much higher than our plant at Clairton, Pa., would tolerate. The moisture that we have to produce for the plants along the lakefront where they are subject to much more severe weather is something else again. We have not tackled heat drying, primarily because our customers do not know what heat drying will do to the coking characteristics of the coal. If the temperature of drying can be held down

Jan 1, 1950

By H. B. Pulsifier

THE following report on the structure of copper is the result of work done in the laboratory of the Rome Wire Co. early in 1925. Previous work had indicated to the author that excellent results might be expected if a suitable technique in surfacing and etching could be developed. The resources of the Rome Wire Co. enabled this metal to be studied more intensively than previously, although none of the materials were investigated exhaustively. The material presented is hardly more than a preliminary summary of the most obvious character of the metal; a much longer research would have been necessary to solve many of the pressing problems connected with the casting and working of copper. The Rome Wire Co. has generously released the paper; to Dr. E. H. Darby, technical supervisor of the company, are due particular thanks for his appreciation of the importance of metallographic study of copper and for his effective support in the prosecution of the work and in making its publication possible.

Jan 1, 1926

By O&apos, M. M. Fine, K. G. Meara

One of the principal activities of the Bureau of Mines connected with the recent war was to help to increase the supply of strategic and critical minerals. Fluorite was one of the most critical of the nonmetallic minerals because of the increased demand for it as a flux in basic open-hearth and electric steel furnaces and as a raw material for the production of artificial cryolite used in the aluminum industry. Wartime developments in the technology of hydrofluoric acid, such as the use of the anhydrous acid as a catalyst in production of high-octane gasoline and the use of organic fluorides as carriers for insecticides, also increased the demand for acid-grade fluorite.f In 1943 the consumption of acid-grade fluorite was advancing at a more rapid rate than production, and was only slightly less than production during the latter half of the year.' The outlook for the postwar market for fluorite is encouraging. Steel production is expected to remain high until the domestic demand for commodities not manufactured during the war is satisfied. The uses for hydrofluoric acid are expected to increase under the impetus of war-initiated research. In considerbtion of these and other factors some authorities predict a postwar demand for fluorite equal to about 60 to 75 per cent of the wartime production.1,2 Others believe that the postwar fluorite industry will be permanently expanded over its prewar status.3 Acknowledgment This paper is one of many reporting on various aspects of the Bureau of Mines program directed toward the more effective utilization of our mineral resources. The program has been under the general supervision of R. S. Dean, Assistant Director, since July 1942. The scope of the paper falls in the province of the Metallurgical Branch, whose activities embrace the separation of difficultly beneficiated ores, the production of pure metals from domestic deposits, the exploitation of marginal orc reserves, the recovery of secondary metals, and the improvement of present industrial metallurgical practice. The investigation was initiated at the request of Mr. J. H. Steinmesch, vice-president and general manager, Minerva Oil Co., Eldorado, Ill. His hearty cooperation and helpful suggestions, and those of Mr. 0. E. Anderson, mill superintendent,

Jan 1, 1948

By K. G. Meara, M. M. Fine, O&apos

One of the principal activities of the Bureau of Mines connected with the recent war was to help to increase the supply of strategic and critical minerals. Fluorite was one of the most critical of the nonmetallic minerals because of the increased demand for it as a flux in basic open-hearth and electric steel furnaces and as a raw material for the production of artificial cryolite used in the aluminum industry. Wartime developments in the technology of hydrofluoric acid, such as the use of the anhydrous acid as a catalyst in production of high-octane gasoline and the use of organic fluorides as carriers for insecticides, also increased the demand for acid-grade fluorite.f In 1943 the consumption of acid-grade fluorite was advancing at a more rapid rate than production, and was only slightly less than production during the latter half of the year.' The outlook for the postwar market for fluorite is encouraging. Steel production is expected to remain high until the domestic demand for commodities not manufactured during the war is satisfied. The uses for hydrofluoric acid are expected to increase under the impetus of war-initiated research. In considerbtion of these and other factors some authorities predict a postwar demand for fluorite equal to about 60 to 75 per cent of the wartime production.1,2 Others believe that the postwar fluorite industry will be permanently expanded over its prewar status.3 Acknowledgment This paper is one of many reporting on various aspects of the Bureau of Mines program directed toward the more effective utilization of our mineral resources. The program has been under the general supervision of R. S. Dean, Assistant Director, since July 1942. The scope of the paper falls in the province of the Metallurgical Branch, whose activities embrace the separation of difficultly beneficiated ores, the production of pure metals from domestic deposits, the exploitation of marginal orc reserves, the recovery of secondary metals, and the improvement of present industrial metallurgical practice. The investigation was initiated at the request of Mr. J. H. Steinmesch, vice-president and general manager, Minerva Oil Co., Eldorado, Ill. His hearty cooperation and helpful suggestions, and those of Mr. 0. E. Anderson, mill superintendent,

Jan 1, 1948

By Milnor Roberts

WAR struck the mineral industry of Washington with cross currents that produced a peculiar result. The State's production of coal, industrial minerals, and metals for 1941, valued at $28,507,282, was increased in 1942 under war pressure to approximately $35.000,000. Meanwhile a tremendous demand had arisen for men to construct airfields and many other large projects for the Army and Navy in Washington and Alaska, and Government plants for the mineral industry costing $140,000,000 or more, as well as a call for employees in the U. S. Navy Yard at Bremerton, the sixty shipyards, the four Boeing airplane factories with many auxiliary shops, and hundreds of other plants turning out war materials. In spite of an influx of nearly 300,000 people, causing an increase of 17.1 percent in the population since 1940, according to the Census Bureau, the State clearly is still engaged in an unusual amount of war production in proportion to its population. A large proportion of the workers have been drawn from the mineral industry to the war plants, whether through motives of patriotism, high wages, or, in the Boeing plants at least, the glamour of the operation

Jan 1, 1944