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By AIME AIME

ON May 5, the Washington, D. C., Section, A.I.M.E., devoted its meeting to the many-sided and perplexing question of mineral stock-piling for peace. Opening the symposium, Harry J. Wolf, of the War Production Board, outlined the problem under six heads: (1) Technical. Mechanical, chemical, or metallurgical importance of specified materials, emergencies that might arise, relative scarcity, and critical value of stock piles during emergencies. (2) Economic. Cost to Government, influence of Government stocks on commercial relationships and markets, effect of availability of items as a con¬structive influence on industry, Administration policies now and during postwar period. (3) Legislative. Need for immediate legislative action, need for legislation on postwar conditions as well as on current requirements, a constructive basic policy to prevent political manipulation. (4) Military. Consideration of re¬quirements and supplies bearing on national safety and needed for manufacture of equipment, and adequate reserves of scarce materials for research or experimentation by military agencies. (5) International. Interests of the United Nations in contradistinction to those of the United States; effects of nonisolation policy on nature, location, and administration of stock piles. (6) Negative stock-piling. Question of United Nations' legislation to prevent stock-piling by Axis nations after the war and who shall purchase stock-pile materials and during what periods.

Jan 1, 1943

By A. Keil

TO measure the absolute conductivity of metallic specimens it is generally necessary to have exact geometrical shapes and good electrical contact with the test-piece. To overcome limitations of the standard methods, an electronic conductivity-meter* Trade name, Sigmatest; model Dr. F. Forster; Reutlingen, Ger-many. has been developed, which works on the principle of inducing high frequency eddy-currents in the specimens and measuring the reaction of these curients on a measuring coil.',' To attach the instrument to the test specimen, a flat area of about 10 mm diam is all that is necessary. The reading is taken off a scale calibrated in pet of International Annealed Copper Standard. The induced eddy-currents are propagated in a circular motion parallel to the surface. Thickness of the layer included in a measurement depends on the frequency used. With a frequency of 60 kc per sec, the penetration of the currents was 0.8 mm at the upper limit of the scale, and 2 mm at the lower limit. The method is limited to nonferrous metals and other applications have been described elsewhere." The object of the present investigation was to detect the formation and growth of surface layers of differing conductivity, and to determine the depth to which these changes could be observed. A well known phenomenon which illustrates the problem is the internal oxidation of certain silver alloys containing base metal solutes, such as copper or cadmium, when they are annealed in an oxidizing atmosphere.4, 5 Until now, the only methods available for following these phenomenon have been metallo-graphic examination and hardness tests.0, 7 Changes in mechanical properties of copper alloys by internal oxidation were recently discussed in a more general way by Martin and Smith." When measuring these conductivity changes it must be remembered that the only absolute values of conductivity are those of 1) the nontreated homogeneous specimen, and 2) the final values obtained with a surface layer of depth comparable to the penetration of the eddy-currents. All intermediate values refer to the mixed conductivities of the transformed surface layer and the untransformed alloy, and are thus readings of relative value only. Experimental Results Specimens were annealed for 1/2 hr at 800°C in hydrogen, and the internal oxidation was carried out by thermal treatment in air at 800°C. Fig. 1 shows the results of the first series of experiments. With internal oxidation of a solid solution of 8 pet Cd in silver, the conductivity rises continuously until the surface layer formed has become thick enough to be the deciding factor (about 400µ). Precipitates of CdO are mainly in the form of points, Fig. 2, and, as a result, the electric contact between the silver crystals is not distorted by them. Brine11 tests were run with a 1.25 mm ball and a 7.812 kg load. The specimen annealed in hydrogen and oxidized to a depth of 400µ had a hardness of 40 Bhn,

Jan 1, 1959

By Roger L. Goin

Maintaining smooth haulage roads is a key to significant cost savings at Kennecott Copper Corp.'s Bing- ham Canyon copper mine, located near Salt Lake City, Utah. The truck operations section of the mine moves an estimated 300,000 tpd of waste plus some ore to maintain a balanced production cycle. A three-year truck replacement program has produced a dramatic new look in both size and capacity of the truck fleet. Currently there are 95 haulage trucks in the Bingham fleet with capacities up to 150 t. The trend towards the larger haulage units places greater importance on overall truck availability. The impact of a 150-t truck being out of service is far more critical than with the former 65 or 85-t units.

Jan 12, 1974

By J. E. Forciea, O. E. Palasvirta, L. G. Hendrickson

AH pilot and commercial plants working with Mesabi Range taconite employ wet magnetic separation. Progress is being made with a dry magnetic process, but this has not yet been applied to taconite except in the laboratory and pilot plants. Flowsheets in all five plants are similar, including multiple stages of grinding, each followed by magnetic separation, which rejects a finished tailing. The flowsheet in Fig. 1 is used in the preliminary and commercial plants of the Erie and Reserve mining companies and in Unit C of Oliver's Pilotac plant. At Erie the desliming operation is omitted. In the Reserve plants two ball mills are used with each rod mill. Pilotac uses flowsheet 2 in Unit A-B and has also tested flowsheet 3. Principal differences in the three flowsheets are the number of grinding stages and the type of roughing. The terms open-circuit roughing and closed-circuit roughing are best defined by the diagrams. Special Test Data Given in Table I: For the Erie and Reserve commercial plants, Table I reflects routine conditions. Pilotac, the experimental plant, has been run with several flowsheets, including those followed at Erie and Reserve's commercial operations. Pilotac data for these last two flowsheets are similar to commercial plant results and are not repeated in Table I; statistics are given, however, for special test conditions. using other flowsheets. when the objective was to 'to extra-grade concentrate, Variations Among Taconites: Although crude ore tributary to these plants is generally classified as taconite, there are important differences in mineralogy and fineness of dissemination.

Jan 1, 1959

By John A. Prof. Church

ONE of the most striking phenomena connected with the mines on the Comstock lode is the extreme heat encountered in the lower levels. This heat is not due to the burning of candles, heat of the men, and decomposition of timbers, all intensified by bad ventilation, as was the case nearer the surface. It proceeds from the rock, which maintains constantly a temperature very much higher than the average of the atmosphere in Nevada. The heat of these mines is a matter of more than usual interest, for they are the only hot ones now worked in the United States, and both in the present temperature encountered and in the increase which is to be expected as greater depths are reached, they appear to surpass any foreign mines of which we have a record. Hot mines are known also in other countries, as in the tin and copper lodes of Wales, where one of the veins worked by the United Mines is known as the hot lode. It has springs which discharge water at a temperature of 116° Fahrenheit, the depth being 220 fathoms, or 1320 feet. The heat of the air in these workings is given at 100° to 113° Fahrenheit. The air is bad, and the heat in the drifts seems to be traceable to defective ventilation rather than to the real necessities of the case. Air is supplied through a small pipe, and is drawn from a place where the temperature is 95° Fahrenheit. Under such circumstances it is not surprising to read that in this hot mine the air is hotter than the rock, a state of things which I have never observed in the Comstock. Other mines have been reported to the British Coal Committee as having temperatures of 106° Fahrenheit and thereabouts, but the only positive comparisons that are available at this writing are the following, all from Cornish mines * Read by permission of Lieut. Geo. M. Wheeler, Corps of Enginerrs, U. S. Arm J, in charge of U. S. Geographical and Geological Surveys, west of the 100th meridian.

Jan 1, 1879

By S. K. Bradford

(Pittsburg Meeting, March, 1910.) FOR years past I have traveled in quest of promising mining-properties, over almost impassable mountain-trails to remote places in the mining-regions, usually, many miles from an assay-office. If, upon examination, the formation and the ore-deposit appeared favorable, a quick determination of the value of my samples was necessary, in order that I might take intelligent action with reference to the acquisition of the property. A journey with my samples to civilized regions often meant weeks of delay, and perhaps loss of opportunity. How many, under similar circumstances, have returned with their assay-results from such a journey, only to find that some audacious speculator had " optioned" the property ! True, a first payment could have been made and the chances taken on the results; but experience has taught that rich-looking ore is not of necessity valuable. Personally, I would not hazard a ten-dollar bill on any property without first determining by assay the value of the ore. To carry the usual complete assay-paraphernalia over such mountain-trails was impracticable by reason of the loss of time involved, the great expense of transportation (charged according to weight), and the fact that a few such trips would almost certainly wreck the outfit. For these reasons I began a process of elimination and substitution which finally enabled me to carry, in an ordinary 26-in. valise, sufficient apparatus and supplies for, say, 100 assays of adequate commercial accuracy. My final outfit was as follows: APPARATUS. Small hammer; steel mortar (2.5 in. wide, 3 in. high, with stand sawed off flat, so that it can be used as an anvil and for

Jan 1, 1911

By F. M. Lewis, J. F. Meyers

This second progress report of grinding presents comments regarding ball consumption and data pertaining to the hydroscillator, which is closed circuited with the tricone mill. A study and postulate of how balls function is presented. The paper summarizes cost reduction obtained by the method of "grinding for the tail race" rather than for "mesh tons." AT the Regional meeting in Columbus, Ohio, in September 1949, the authors presented a progress report of the first year's operation with a Hardinge tricone mill in closed circuit with a Dorr hydroscillator. The present report covers our findings on this grinding circuit to January, 1950. In order to clarify our position, the authors wish to state that no invention or discovery is claimed. The Tennessee grinding circuit is simply an engineered arrangement of known equipment arranged to incorporate all of the recognized efficiency factors of comminution as they are known today. As we concluded our first report, it was not clear how effective the Tennessee mode of operation would be on harder ores. The only information we had at that time was that the Bond grindability test at 48-mesh gave 6.04 g of undersize per revolution. A later test on the same sample at 100-mesh reduced this to 2.04 g, which is definitely in the harder ore class, and which makes the reported 8.80 kw-hr per ton of —200-mesh produced a very creditable figure. Hydroscillator Operation The machine as now developed has proved dependable and easy to operate. It starts easily under full load and responds quickly to operating adjustments. The hydraulic holes in the oscillating plate do not plug when shut down under full load. Absolutely clean hydraulic water is essential. An Elliott water screen or similar device should be an essential part of the machine to keep all scale and trash of all kinds from the hydraulic compartment. The shift operators have expressed approval of the machine. In table I we show a typical screen analysis of the hydroscillator rake sand as compared to conventional classifier rake sand on our ore. We have previously reported that of the 28.7 pct reduction in power, the hydroscillator contributed 6 pct, on a —200-mesh basis. This is a conservative figure. Some of our test runs indicated that the saving was as high as 10 pct. Laboratory studies by the Dorr Co. engineers indicate that still greater efficiency is possible. Nevertheless, the 10-ft plate is overflowing 2100 tons per day at 3 to 4 pct + 65-mesh, which is a very creditable performance by

Jan 1, 1951

By James P. Kimball

Jan 1, 1881

By S. M. Marshall, B. M. Bird

For a number of years European investigators have used laboratory methods of predicting the probable strength of coke made from coal, and recently several investigators in the United States have reported the use of various tests for this purpose. There is at present no method accepted as standard, however, nor is there even agreement as to the general type of test that should be used. Furthermore, because the details of most of the tests have not been worked out carefully, one investigator can not hope to duplicate the work of another. The extension of coke manufacture to new localities in the United States, and the increasing need for cokes of exceptional qualities made from the most economical mixtures, made it desirable to have some simple laboratory test which will determine whether given coals, alone or blended with other coals, are more satisfactory from the standpoint of coke strenpth- than others of different cost. The work described herein has resulted in the development of a simple laboratory test which, it is believed, can be generally adopted in coal laborat,ories, and which will give concordant results even though performed by different investigators in different laboratories. The general method of predicting whether a coal or a mixture of coals will produce a strong coke, resistant to crushing and shattering, has been to correlate the known strengths of the cokes produced in commercial ovens with some measurable constituent or with some property of the coals, and then to use the relationship so found for forming an estimate of the coking strengths of coals unknown. Several such correlations have utilized the percentages of the various ultimate constituents of coal, such as the oxygen content and the hydrogen-oxygen ratio;(39)§ other correlations have involved the proportion of a, B and r com-pounds, (17,21,30c) or of "oil and solid bitumens."(16,30) Also a relationship has been traced between the coking properties of coal and the rate of change of the resistance offered to the flow of an inert gas by fine particles of the coal while being slowly heated. (11,176) But the most general corre-

Jan 1, 1930

By R. R. Seeber

(Pittsburg Meeting, March, 1910.) IN the copper-mining district of northern Michigan a fair-sized mine usually operates two or more shafts along the strike of the lode, these shafts being usually at least 1,000 ft. apart. The tonnage to be hoisted from each shaft is large-from 13,000 to 25,000 tons per month. The hoisting-engines used are generally steam-driven, non-condensing, duplex engines with Corliss valves, supplied by steam from separate boiler-plants where the distance between shafts is great. In an attempt to centralize power-plants and secure central-station economies, the Winona Copper Co. installed an electric hoist of the Ilgner type, with Ward Leonard control. A brief description of this plant has already been published.1 The only point of variation from the simple Ilgner set lies in the connection of two generators to a single induction-motor by flexible couplings. These generators serve motors which operate hoisting-drums at separate shafts, viz., No. 4 shaft, Winona, and No. 1 shaft, King Philip. , The hoist for No. 4 shaft, is about 1,700 ft. from the power-plant, and in this building the motor-generator set is placed. No. 1 King Philip hoist is 1,500 ft. from the motor-generator set. The equipment of the motor-generator set is as follows: In the middle of the set is a 12-pole, 450-h-p., 600-rev. per min., 2,080-volt, three-phase, 60-cycle, variable-speed induction-motor, connected on each side to a 20-ton fly-wheel which is 10 ft. in diameter, and to a 6-pole, 170-kw, 575-volt, interpole, direct-current generator. On each side of the shaft is placed a separate exciter, which delivers current at 125 volts. The lubrication of the four main bearings that support the fly-wheels * Presented also, by mutual agreement, at the meeting of the American Institute of Electrical Engineers, New York, N. Y., Mar. 11, 1910. Engineering and Mining Journal, vol. lxxxviii., No. 3, p. 110 (July 17, 1909).

Sep 1, 1910

By W. D. BRENNAN

AS a rule the thoughts of engineers are more often directed toward the mechanical and physical conditions of mining practice than they are toward the disposition and the marketing of the product. This, I think, has been true of the coal industry to the present time not only among the engineering force but also generally true of operators. There has been a tendency to place the sales department in a rather secondary position; for a great many years there was a greater demand for coal than the supply would meet, so it was only necessary to increase production: either by expansion of operating mines, or opening new mines of greater capacity. While the production of coal is still a highly important phase of the industry, its enormous development throughout the country, the great advance in fuel, efficiency and economy, and the discovery of new reserves of competitive fuels have combined to create a buyers' market and force the present-day attention upon merchandising in modern ways. A buyers' market has a natural tendency to develop the keenest competition, frequently unscrupulous and nearly always profit-wrecking. Under such conditions bad practices are bound to grow and to extend until the industry is wrecked, or until wiser heads get together to reduce or eliminate unfair methods of competition. This is not so recent a condition as one might believe.

Jan 1, 1931

By AIME AIME

INSTITUTE HEADQUARTERS, Hotel Statler. On Monday evening, Oct. 28, 1912, the visiting members and guests were informally received by the Local Committee at the Headquarters of the Institute at. the Hotel Statler. The evening was very pleasantly spent in renewing old acquaintances and friendships and in forming new ones. The first session, held Tuesday morning, Oct. 29, 1912, in the impressive Assembly-Room of the hotel, was called to order by David T. Croxton, Chairman of the Local Committee. Mr. Croxton introduced the Hon. Newton D. Baker, Mayor of Cleveland, who extended a cordial welcome to the members and guests present. James F. Kemp, President of the Institute, who subsequently presided at the meeting, responded in behalf of the Institute.

Nov 1, 1912

By James R. Swaisgood, Ronald E. Versaw

Hundreds of shafts have been sunk in the United States in the past. Most of these have been successful however, in some instances thousands of dollars have been lost due to work stoppage while emergency measures were taken to control unexpected water flows. In cases where it was not possible to control the water, the shafts were completely lost. Many thousands of dollars have also been wasted in overconservative support design for the successful shafts. These "hell for stout" designs were necessary because of the importance of the shaft in the operation of the mine. If there was trouble in the shaft, all underground operations would come to a halt. Over-design was also necessary because no reliable preconstruction investigation methods or rational support design methods were available.

Jan 6, 1974

By Thomas M. Dr. Drown

REMARKABLE as have been the direct results of Danks's puddler, there are some indirect and incidental results, which are well worthy of study for their intrinsic value and suggestiveness. The success of Danks's machine is due mainly to the nature of the lining and the manner in which it is attached to the walls of the revolving chamber. Herein lies Danks's merit and good fortune. Given such a lining, and the success of the machine, as far as puddling iron is concerned, could easily be predicted. Other important results have, however, been obtained with this machine, which, though clearly explicable, were, nevertheless, unanticipated. These are the increased yield of bar-iron over the pig-iron charged, and the elimination of phosphorus, which, though not absolutely complete, is yet more decided than in the case of hand-puddling. As regards the increased yield, this is merely what we have a right to expect if we consider the puddling process to consist in the oxidation of the carbon and silicon of the pig by the oxygen of the oxide of iron. That this result is attained, nearly to the extent that the theory requires, in Danks's puddler, and has never been more than partially attained by the most careful experiments in hand-puddling, points clearly to the fact that the contact of the molten pig-iron with the oxide of iron is much more intimate and complete in the one instance than in the other. The action of puddling in Danks's machine may be considered to be twofold first, the removal of the carbon, silicon, and phosphorus of the pig, which is the primary object, and, second, the production of wrought iron direct from the ore, which is entirely an incidental result. Intelligent metallurgists were not long in recognizing in this latter result a fact of deeper import and greater value than the attainment of a perfect puddling process. A new method

Jan 1, 1874

By W. G. Sinclair

THE North Texas district presented in this paper includes the counties of Archer, Baylor, Clay, Cooke, Foard, Hardeman, Jack, Knox, Montague, Wichita, Wilbarger and Young. It corresponds with the Texas Railroad Commission's district No. 9. Table I conforms with the nomenclature of pools as designated by the Commission. Most of the oil and gas produced in this region, generally referred to as the Red River uplift, comes from the Pennsylvanian strata. In recent years, however, increasing amounts are being developed in both the Mississippian and Ordovician.

Jan 1, 1946

By K. C. Heald

THE places where, yesterday, oil was unknown contain tomorrow's fields. Unquestionably, some states that now yield little or no oil have great potentialities, and developments in these states, although perhaps of less immediate interest than those in regions where great pools now exist, may easily be of greater ultimate importance than the results of exploration closer to known fields. Not long ago, Montana had only a quarter of an oil pool, and that was regarded by many as an accident that had strayed from Wyoming. More recently, the northern line of Louisiana was a dead line that would not be crossed by any Louisiana operator who valued his reputation for sanity. Within the past few months, Colorado has shown that it is far from being a negligible factor in the oil supply of the Rocky Mountain states, and it is now known that western Kansas, long shunned by many reputable geologists and operators, should be reckoned with. There may be a vast difference between what a wildcat well yields and what the well signifies. The fact that no commercial production is encountered may be lamentable and may well be disastrous to an individual or a company, but the same well that spells ruin to one may convey to another the information that will result in opening a new field. In presenting the conclusions, in this paper, the writer recognizes fully the possibility of erroneous deductions, particularly since he has had contact with only a few of the wells that are mentioned. Information comes principally from the scout. maps and files maintained at the Geological Survey by M. E. Latimer and G. K. Drach, without whose cooperation this summary would not be possible, supplemented by some personal contact and second-hand information gained by. conversation and correspondence. However, it is felt that the data contain few errors, and that the conclusions are at least reasonable.

Jan 3, 1924

By Charles S. Barrett, Robert F. Mehl

It is generally understood by workers in the field of the crystal structure of metallic alloys that terminal solid solutions are of two types, the substitutional and the interstitial. In reviewing the literature, the work of Weissl on the crystal structure of the alpha copper-tin alloys was encountered, in which a new type of terminal solid solution was proposed. In brief, Weiss' findings showed that the density of the alloys calculated from the side of the unit face-centered cube on the assumption of simple substitution—that is, with four atoms to the unit face-centered cell—was much higher than the density measured directly. It was suggested that the assumption of four atoms to the unit cube is not valid for these alloys, and that each unit cube contained less than four atoms; in other words, that one tin atom replaces more than one copper atom, leaving some atomic positions unoccupied. Such a structure, if verified, would have far-reaching significance in the study of the crystal structure of metallic alloys. It would indicate a complexity in terminal solid solutions not hitherto suspected and might encourage work leading to the discovery of other alloys of the same type, and perhaps to types intermediate between it and the two recognized types. It is of importance, therefore, to reinvestigate these alloys with respect to the type of solid-solution structure obtaining therein. Materials and Experimental Method The alloys were prepared from electrolytic copper cut directly from the cathode and the high-purity tin furnished by the U. S. Bureau of Standards for the calibration of thermocouples. No analyses for impurities of these materials or of the finished alloys were made, since such impurities as might be present could have only a wholly inappreciable effect upon the data obtained and the conclusions drawn. The alloys were made by melting the weighed copper charge in a graphite crucible under a KCl-LiC1 flux with later additions of NaC1, using induction heating. When the copper was melted the weighed portions of tin were

Jan 1, 1930

By W. H. Blauvelt

W. H. BLAUVELT, Syracuse, N. Y. (communication to the Secretary*).-I have read Mr. Howland's paper on Calculations with Reference to the Use of Carbon in Modern American Blast Furnaces with much interest, and believe that his method of analysis of the subject will be of material assistance in our study of the action of coke in the blast furnace. Mr. Howland quotes Professor Richards' statement that from the standpoint of the generation of the maximum quantity of heat in the furnace, Grüner was right in saying that all the carbon burned in the furnace should be first oxidized at the tuyères to CO and all reduction of oxides above the tuyères should be caused by CO, which thus becomes CO2. It is clear that the maximum quantity of heat is generated in the furnace when the greatest amount of carbon is burned to CO2 irrespective of whether it is burned at the tuyères or further up the furnace. So it would appear that Grüner's theory is sound regarding the maximum production of heat only because if all the carbon is burned to CO at the tuyères the reduction of the ores will have to be effected by the further oxidation to CO2. Whereas, if the reduction of the ores is effected in part by solid carbon, part of this carbon might be oxidized only to CO, resulting in a higher percentage of CO in the escaping gases than from Grüner's "ideal conditions.? But in studying the combustion of coke in the furnace, it is clear that the production of the maximum quantity of heat is not of the first importance in blast-furnace operation, or in the utilization of the fuel charged into the furnace. To my mind the production of a high thermal head at the tuyères is of the first importance, and the best coke is that which reaches the tuyères in proper condition to produce the highest temperature at the tuyères, and in just sufficient quantity to do the amount of work required there under the conditions produced by this maximum temperature. The combustion of a much larger amount of fuel at the tuyères, under conditions that will fall short of producing the highest possible temperature, cannot produce as good results, either in fuel economy or output. If this statement is correct, does it not correspond with Mr. Howland's statement that too much wind is inimical to low coke consumption? Nothing is more fatal to obtaining the highest temperatures than an excess of air for combustion. In the blast furnace an excess of air dilutes and cools the products of combus-

Jan 10, 1916

By Edwin Ludlow

IN CONSIDERING the waste in the coal industry, which is the title of this discussion, we must entirely eliminate the anthracite region. The demand for anthracite has been constantly increasing and the mines have been able to run during this last year, while the bituminous field was idle for two-thirds of the time. It is on a 100 per cent. basis, which is the best answer to any waste in industry investigations. The anthracite region is also in a very much better position on account of its control by very large companies which realize that their resources are limited; they must husband these resources in every way and they are making the most careful study of methods of mining and preparation to avoid any possibility of waste. This is well known and realized by the managers of those companies. Even the fine slush which was formerly thrown away is now being stored in the hope that methods will be found by which it can be used economically, either in briquet or pulverized fuel in coking. This has been tried. The anthracite factor may be dismissed from the waste in industry discussion, except as it applies to the general public that burns anthracite; there is a tremen-dous waste of anthracite in the burning of it. Looking at the ash piles where anthracite is burned and seeing the amount of carbon that comes away with the ashes, one realizes that proper efficiency is not obtained in the burning of that coal. Even its higher cost does not seem to bring people to a realization of the necessity of conserving and burning properly the entire coal carbon content of what has cost so large a price. Many people feel that they want to have the coal as large as they can shovel into the furnace; they do not realize that the small coal makes just as many heat units and can be bought at half the price. Consequently, the demand is continually in excess of the probable pro-duction for the larger sizes of anthracite, while the smaller sizes, such as large buckwheat and pea, are a drug on the market and can be bought at nearly half the figure; and yet, if properly burned, these produce just as much heat and can be used with a much greater economy than the large egg and stove.

Jan 3, 1922

By ARCHIBALD DOUGLAS

BY this time almost everyone knows, in a general way, the corporate income distribution policies of the 1936 Revenue Act, and many of the practical problems arising there under. This article is not intended to be a technical discussion of that act by title, subtitle, section, or supplement, nor an analysis of inter- dependent sections of the various acts over many years woven on the fiscal loom f our Congressional machine. Such a discussion would require the spinning of a web of words too long for patience. Yet ,a general statement of the underlying plan of the 1936 Act, so far as it affects dividend policies, is perhaps useful.

Jan 1, 1937