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By Margaret Dienes, Karl L. Fetters

IT is recognized that ingot structure is important in determining the quality of finished steel. Such elements of ingot structure as the size, shape and distribution of primary crystals; the size, shape and distribution of shrinkage cavities; the degree and kind of segregation (both macro and micro); the distribution of nonmetallic impurities and gas cavities are each the result of solidification phenomena. These structural features vary with variations in ingot practice: Their control requires a knowledge of their correlation with the variables of ingot practice. The structures of full-sized commercial steel ingots have been studied extensively by the Steel Ingots Committee of the Iron and Steel Institute.1 This work has contributed much to our knowledge of ingot structure and the factors that control it. These investigations of necessity have been limited in scope because of their costliness and the great amount of time required. Studies of the structure of small steel ingots have not been very satisfactory because of the rapid rate of freezing of the ingots. Their structures are thus difficult to resolve and to interpret. Medium sizes of steel ingots in the ranges of 150 to 500 lb. do offer opportunity for study, but their cost also becomes greater and their use less expeditious. Experimental models for the study of steel-ingot structure have been made of nonferrous metals. Gathmann2 used lead-tin alloys and reported that they were satisfactory for determination of the location of the major shrinkage cavities and the "planes of weakness" resulting from the pattern of crystallization. Certain features of mold design have been illustrated by these results. Bezdenezhnihk3 has used copper and aluminum ingots similarly and has shown the effect of mold-wall thickness on the depth of columnar grains. These studies of nonferrous models have been useful, but their results have been limited because the analogy with steel ingots obviously is not a close one. Model wax ingots have also been useful in pointing out important features of mold design. Gathmann4 watched the solidification of wax ingots, through a glass-walled mold, and has reported the effects of mold type on the location of the shrinkage cavities. Segregation was simulated by using a mixture of paraffin and stearine and adding a red dye that on freezing segregated preferentially to the stearine. Brearley5 also used wax models to determine .the effects of some of the principal features of mold design. Carlsson and Hultgren6 used stearic acid to show that the columnar crystals of ingots tend to slope upward progressively from the mold wall toward the center of the ingot. As with the nonferrous ingots, the wax ingots have

Jan 1, 1943

By J. L. Jernegan

IN this paper I propose to give a short and, I must confess, a rather incomplete description, as regards many details, of the process used in Chicago, Ill., for smelting the argentiferous ores of the far West, and shall confine myself in this description, principally, to the process used at the Chicago Silver Smelting and Refining Company's Works, known as the Balbach process, as all the other smelting works in that city follow the same method, with the exception of one, which has the Cordurié, process for the desilverization of argentiferous lead. In all, there are five silver smelting and refining works in and near the city of Chicago. The Chicago Silver Smelting and Refining Company's Works are situated at the little station of South Lynne, about seven miles south from Chicago. The plant at these works consists of one horizontal steam-engine, principally used for running the ore pulverizer, four reverberatory smelting-furnaces, connected by horizontal flues with a common chimney 85 feet high, three lead-softening furnaces, one so-called zinc or mixing furnace, one separating furnace or liquation hearth, one lead-refining furnace, three zinc distillation retorts, one English cupellation furnace, supplied with blast by a No. 3 Sturtevant blower, which is run by a small steam-engine having a vertical tubular boiler, and an assay office, in which there are two wind-furnaces of the ordinary construction, and also a small muffle furnace. The assay office is supplied with all the necessary apparatus and reagents for fire assaying. There are also a superintendent's office, various store-rooms for coke and charcoal, and for the preparation of fire-clay, etc. Recently a small slag hearth (Krummofen) with one tuyere, has been put up for the purpose of working over such slags as assay too high in silver and lead to be thrown away, of which there are large amounts. The principal ore worked while I was in the employ of the company was that of the well known Emma mine in Utah, and also small quantities of Colorado ore. The character of the Emma ore is well known to most members of the Institute. In consists principally of ferruginous mixtures of carbonate and oxide of lead, oxide

Jan 1, 1874

By H. J. Rose

The peak of production from the Appalachian natural gas field was apparently reached about 10 years ago, and the annual production from Pennsylvania, West Virginia and Ohio has now dropped to about two-thirds of the amounts obtained in 1916 and 1917. This falling off in production has occurred in spite of vigorous efforts and large expenditures by producing companies to maintain or increase their output. The greatly increased costs of development and handling are reflected in the present average value of natural gas at the point of consumption, which value in the three states referred to has more than doubled in the past 10 years. While it is true that the natural gas production of the United States has increased during recent years, this increase has come from southwestern states, particularly from Oklahoma, California, Louisiana and Texas, which states are now leaders in the production of this valuable but fleeting resource. Pennsylvania, originally the leading state in natural gas production, occupies sixth place in the latest (1924) U. S. Bureau of Mines statistics. West Virginia, which held first place for 15 years, has dropped to third rank, and Ohio is the seventh state in the order of natural gas production. Domestic and industrial demands for gas are constantly increasing everywhere in the United States. These growing demands have accentuated the difficulties in the localities with depleted natural gas supplies, and serious shortages have already occurred during winter months in the Pittsburgh district. Some relief has been obtained by placing restrictions on the industrial use of natural gas, and by increasing the price (which tends to reduce consumption). Yet these are but temporary expedients for checking gas consumption, which fail to solve the problem of adequate future supplies of gas. Gas is an exceedingly valuable and important form of fuel, and serious restrictions on its use cannot be tolerated for long in any community. As the supply of natural gas declines, it must be supplemented and eventually replaced with some form of manufactured gas. Many cities, including Pittsburgh, are already supplementing their natural gas supply with the manufactured product.

Jan 1, 1930

By Robert W. Hunt

The first pump of this character, made by H. R. Worthington, and, so far as the writer is informed, the first and only one of this kind ever constructed, is now in daily use in the above-named works. The water-pressure necessary for the working of the hydraulic machinery of this plant had been supplied, up to the time of the building of this pump, by two Worthington Duplex High Pressure Pumps, having steam-cylinders of 20 inches diameter and 12-inch stroke, with water-plungers of 71/2 inches diameter; eight inlet and eight outlet valves of 24 inches diameter, and pumping into a 6-inch pipe. These pumps required a large amount of steam, and, in consequence of the various additions to their duty, their capacity became far short of the work required. In preference to putting in another engine of the same class, it was decided to accept Mr. Worthington's proposition to build the compound one under description, he guaranteeing that it should be equal to the demands of the works, and at the same time cause a saving of from 5 to 6 tons of coal per day from the amount required to run the two old pumps. The new engine has been in operation about one month, and so far has exceeded the most sanguine expectations. It consists of two high-pressure cylinders of 21 inches and two low-pressure ones of 363/8 inches diameter, by 36-inch stroke, with water-plungers of 961/2 inches diameter. There are two air-pumps of 20 inches diameter by 18-inch stroke; the condenser being 24 inches diameter by 60 inches high. Both cylinders are jacketed with wood and felt, and the low-pressure cylinder also with live steam. The high and low pressure steamcylinders are in line and immediately adjoining each other, while the inconveniences attending an internal stuffing-box are avoided by having two piston-rods for each of the low-pressure cylinders, running through stuffing-boxes on the outside of the smaller high-pressure ones. The steam-valves are very ingeniously designed balanced

By C. A. Heiland

For a long time it has been known that it is possible to deduce conclusions about the physical constitution of the interior of the earth from the records of natural earthquakes obtained by stationary seismographs. In view of this fact it is surprising how late, relatively speaking, geologic prospecting by seismic methods has been taken up, although the first suggestion was made 40 years ago—that travel-time curves of artificial explosions might be used for the study of the change of the velocity of seismic waves as depth. Further suggestions of practical applications of artificial explosions for geologic purposes were made by Belar12 by von dem Borne,3 by Benndorf and by Galitzin,5 but it was not .until 1919 that Mintrop obtained a patent on the seismic prospecting method which he has applied commercially on a large scale ever since. Dr. Mintrop came to this country with his method at about 1923. Since that time, several American oil companies have developed seismographs of the mechanical type for the vertical component similar to that of Mintrop's (Humble Oil Co., Dr. Ricker). Other consulting geophysical companies designed other types of seismic devices, the simplest of them for the recording of the first impulse being the geophone (McCol-lum Geophone Co.). The galvanometric recording method as first proposed by Galitzin is being used (Geophysical Research Corpn.?) and use is being made even of the piezoelectric properties of crystals for portable seismographs (F. Rieber). There is such an enormous variety of all kinds of portable seismographs, vibrographs, accelerographs, etc., that it is difficult to decide just what kind is preferable. Unfortunately, nothing has been published as yet about American designs of portable seismographs, except the Wood-Anderson torsion-seismometer. After Mintrop's design of portable seismographs, other constructions were made

Jan 1, 1929

By C. A. Heiland

For a long time it has been known that it is possible to deduce conclusions about the physical constitution of the interior of the earth from the records of natural earthquakes obtained by stationary seismographs. In view of this fact it is surprising how late, relatively speaking, geologic prospecting by seismic methods has been taken up, although the first suggestion was made 40 years ago- that travel-time curves of artificial explosions might be used for the study of the change of the velocity of seismic waves as depth. Further suggestions of practical applications of artificial explosions for geologic purposes were made by Belar,2 by von dem Borne,3 by Benndorf4 and by Galitzin,5 but it was not until 1919 that Mintrop obtained. a patent on the seismic prospecting method which he has applied commercially on a large scale ever since. Dr. Mintrop came to this country with his method at about 1923. Since that time, several. American oil companies have developed seismographs of the mechanical type for the vertical component similar to that of Mintrop's (Humble Oil Co., Dr. Ricker). Other consulting geophysical companies designed other types of seismic devices, the simplest of them for the recording of the first impulse being the geophone (McCollum Geophone Co.). The galvanometric recording method as first proposed by Galitzin is being used (Geophysical Research Corpn.?) and use is being made even of the piezoelectric properties of crystals for portable seismographs (F. Rieber).. There is such an enormous variety of all kinds of portable seismographs, vibrographs, accelerographs, etc., that it is difficult to decide just what kind is preferable. Unfortunately, nothing has been published as yet about American designs of portable seismographs, except the Wood Anderson torsion-seismometer. After Mintrop's design of portable seismographs, other constructions were made.

Jan 1, 1928

By Cyril Wells, Paul E. Busby, Donald P. Hart

EARLY workers in the field have established that the diffusion of nitrogen follows normal diffusion laws. Concentration-penetration data from layer analyses of reasonably pure iron specimens nitrided in an atmosphere of CO-NH, are given in the literature,' and were utilized to calculate diffusion constants for nitrogen. The diffusion of nitrogen in y-iron may be represented approximately by the equation D - 1.07x10-' e-:".'m'"'r The diflusion coefficients, D, given by this relation represent mean values, since carburization occurred simultaneously with nitriding. The rate of diffusion in a-iron has been determined from calculations based on data obtained by measuring the internal friction of samples at each of several frequencies and temperatures.' The expression for the diffusion of nitrogen in a-iron derived from these experiments is D= 1.4x10-1 e-it tudent Increasing carbon content decreases the diffusion of nitrogen in a-iron.3 Oxygen, either dissolved or combined, has been shown' to exert a marked influence on the diffusion of nitrogen from a nitriding atmosphere. D values increase rapidly with increasing amount of dissolved oxide in the metal, but diffusion is completely inhibited if preliminary oxidation has produced the slightest trace of iron oxide on the surface. Diffusion coefficients have also been calculated from permeability and solubility data,' but these values are of questionable accuracy since the boundary conditions assumed may not actually exist. Experimental Method The method selected for determining the diffusion coefficient of nitrogen in a-iron in the present investigation was the so-called fractional saturation method. This method consists of heating the specimen in an atmosphere of H2-NH8 mixtures of known composition for a predetermined time. Following this treatment, the specimen is analyzed for nitrogen; and the diffusion coefficient is calculated from a known relationship of the fractional saturation, time of diffusion, and dimensions of the specimen. This relation is based on a solution of Fick's second law and assumes that the surface of the specimen immediately reaches a given concentration which remains constant during the diffusion anneal. Tabular solutions are available4-5 and provide the relationship between fractional saturation and the quantity \/Dt /a, where D is the diffusion coefficient in cm2 per sec, t is the time of the diffusion anneal in seconds, and a, in the present experiments, is the half-thickness of the slab specimen in cm. The method is adequately discussed elsewhere.9-10 Material The material for this study consisted of 3/32 in. thick (0.24 cm) carbonyl iron plate. The major impurities in this iron are oxygen and carbon, which are readily removed by long time high temperature treatment in an atmosphere of purified hydrogen. In order to reduce the diffusion anneal time for saturation runs, some of this material was rolled to a thickness of 0.015 in. (0.038 cm) prior to the hydrogen treatment. Hydrogen treatments were carried out in a hydrogen-purified Armco iron tube heated in a global

Jan 1, 1957

By N. H. Parker, J. G. Papailias, G. Gutzeit

In its many forms, the turbine has greater latitude of application than any other mixing device. It is readily adaptable to all tank shapes, from the shallow pan to the tall and narrow stovepipe. Although turbine mixers can be adapted to most tank conformations, experience has shown that there is a preferred shape for optimum efficiency in each service. In the accompanying drawings this relationship is illustrated by the shallower tank for slurry suspension. The taller tank is preferable for continuous staged systems, or maximum retention of the gas phase in absorption. No single turbine covers the entire range of these applications with maximum efficiency. The back-sloped blade offers maximum power economy. The straight blade develops a higher discharge velocity for the dispersion type of service requiring localized shear. The same high shear environment is provided by the back-sloped impeller with stator ring assembly, which permits the most positive discharge control, Fig. 1. Positive stream control is critical in solids suspensions.

Mar 1, 1956

By L. G. Huntley

Introduction IN View of the recent advance made in the knowledge of the nature and conditions accompanying the occurrence of oil and gas, and of the recent activity in drilling in Wyoming, Montana, and western Canada, a discussion of the probabilities of obtaining production in such a reservoir as the Dakota sand in general, and in particular districts, is thought by the author to be timely and likely to result in more intelligent operating in certain parts of the territory underlain by this sand. In Canada particularly it is thought that these general considerations have equal if not more significance in a consideration of the oil and gas possibilities of the formations than have the various local conditions.

Jan 6, 1915

Lawrence Addicks, Perth Amboy, N. J. (communication to the Secretary*): The excellent series of photo-micrographs given in this paper shows clearly the relation between micro-structure and cuprous oxide in refined copper. The authors suggest that this method of examillation might be substituted for the " button " method now used to control the refining of cop

Jan 1, 1904

By J. C. METCALF

MORE than 80 per cent. of the iron produced in the United States and over 30 per cent. of the world's annual production is obtained in the Lake Superior district. Though iron ore was discovered on the Marquette range in 1844, the poor transportation facilities retarded the development of this region for many years. The structure of the Lake Superior basin is essentially an east-west synclinorium with steep dips on the south side of the lake and considerably flatter ones on the north and west. The Upper Huronian series, which -is the iron-bearing one of the formation, on the south side of the lake dips north from 55' to 80°, and on the north side dips south from 8" to 200. The series has been subjected to local folding and faulting, which have influenced the development of the mining systems used.

Jan 1, 1921

By Stanley J. LeFond, Langtry E. Lynd

Elemental titanium has become famous as a space age metal, because of its high strength/ weight ratio and resistance to corrosion. However, the major use is in the form of titanium dioxide pigment, which because of its whiteness, high refractive index, and resulting light-scattering ability, is unequaled for whitening paints, paper, rubber, plastics, and other materials. A relatively minor use is in welding rod coatings, in the form of the mineral, rutile. United States consumption of titanium dioxide for these applications in 1973 was as follows: pigments, 891,000 st; titanium metal, 40,000 st (=24,000 st metal) ; and welding rod coatings, 10,000 st. The only commercially important titanium ore minerals at the present time are ilmenite, and its alteration products, and rutile. Titanium was discovered by Gregor in 1790, as a white oxide which he recovered from menaccanite, a variety of ilmenite occurring as a black sand near Falmouth, Cornwall. Barksdale (1966) states that the fundamental chemical reactions on which the present day titanium industry is based were known before 1800, although it was not until 1918 that these pigments were available commercially on the American market. Pings (1972) outlines the early history of the titanium industry in the United States, referring to the work of Guise (1964) and others: "Mining of titanium minerals in the United States began sometime between 1880 and 1900, in Chester County, Pennsylvania. Small quantities of rutile were also produced during the time in North Carolina and Georgia. In 1901 rutile was mined from a deposit near Roseland, Va., and was used in making titanium chemicals and for coloring ceramics. Ilmenite in the deposit was produced as a separate item in 1913, and rutile and ilmenite were obtained from this deposit through 1921. The mining of titanium bearing beach sands began in 1916 near Mineral City and Pablo Beach, Fla., for the purpose of making titanium tetrachloride to be used in tracer bullets, flares, and smokescreens. The titanium pigment industry was founded in 1918. By 1928 a large part of the domestic production of rutile, ilmenite, and zircon came from Florida. However production ceased in 1929 in Florida with the mining of newly discovered deposits in Virginia which were mined until 1968. The discovery of new deposits in Florida, and the development of better mining and concentrating methods for lowgrade sands, led to a return of activities in this area. The large deposits near Tahawus, N.Y., were brought into production in 1942 by National Lead Co. (now N L Industries Inc.), and by 1949 this company was the lead¬ing producer of ilmenite in the world. In 1948 the extensive deposits of ilmenite and ilmenite-bearing iron ores were discovered in eastern Quebec." The beginning of the modern titanium metal industry was in 1948, when E. I. du Pont de Nemours & Co. produced the first metal. U.S. Bureau of Mines reports, which gave details of the Kroll process, together with the attractive properties of the metal for

Jan 1, 1975

By W. R. Ingalls

THE main objective of everybody, individually and collectively as the people of nations, is to earn their living and improve the scale thereof as much and as rapidly as possible. We are able to earn" our living only by working and producing. We I are able to rise to higher standards of comfort only by increasing our production of goods, or diminishing the waste of those that we do produce, or both. This statement is trite. It is equally trite to dwell upon the importance of increased production to be derived from increased efficiency of labor and improved manage-ment; and the good results that would accrue to every-body if employers and employees would work together to secure the maximum of production at the minimum of cost. All of this is nothing more than platitude, to which every intelligent person subscribes in the abstract; but what concerns us especially, and what is neither so easy nor so understandable, is to translate the expres-sion of the abstract principle into formulas for action. The national net income obviously may be increased in two ways, or by both together. One is to diminish the waste of the goods that we already have made available. The other is to increase the supply of goods. .Increasing the supply of goods may involve the elimina-tion of waste, but a distinction is to be drawn between the waste of things that we have and the failure to obtain those that we might have. If we limit the term "waste" to the careless and profligate use of the materials that have come into our possession, together with the absorption of labor in doing obviously unnecessary things; and if we character-ize by the term "inefficiency" the failure to accomplish in our industrial operations the best of which we are capable, we shall create a distinction that will be pro-motive of clear thinking. In this paper I am going to deal with inefficiency, not waste, observing the distinc-tion, arbitrary if you please, that I have made. Without any doubt the greatest inefficiency that exists in our economic affairs is that which causes hundreds of thousands, perhaps millions, of men to be idle a good deal of the time. The major reasons for such idleness are two-fold. One of them is the conse-quence of what for convenience may be called business cycles, although I do not hold to the hypothesis of business cycles as it is now being rather widely expounded. That hypothesis involves the idea of rhyth-mic undulations due to causes unknown, but which it is hoped may be ascertained. The movement of busi-ness in waves up and down is undeniable, but that there are recurrences of cycles every so often is purely imag-inary, I think. It is unnecessary-to digress into that subject. The extents of the rises and falls above and below a median line undoubtedly is less than is commonly supposed.

Jan 3, 1922

By R. L. Bowron

GROWING use of basic slag in the agricultural industry is of special interest and importance to the iron and steel industry of the Birmingham district, providing an increasing outlet for this by- product. Such use of basic slag was first developed in England about fifty years ago where it soon became wide- spread. About twenty years ago the Tennessee Coal, Iron & R. R. Co. began its production in the United States after exhaustive tests had demonstrated its high value here as in Eng- land. It is particularly valuable on heavy clay and acid soils, improving their physical condition, increasing their alkalinity where that is desirable, and providing soluble phosphate and small amounts of manganese to soils deficient in these respects. Its use in agriculture is growing as its advantages are becoming more widely known.

Jan 1, 1937

By Reno H. Sales

Our colleagues cannot in the future earn reputations and medals for achievements in milling and smelting ore and for successful management of mining companies, if some one doesn't keep finding and mining the ore to mill and smelt and to provide the basis for the good management. Good ore seems sometimes to be quite helpful to good management, and good ore is not as easy to find as it used to be. And there are still more reasons, why—when this honor had been decided upon and named for Mr. Daniel C. Jackling—it should be initially conferred on Reno H. Sales. . The terms of reference of the award are that it should be conferred upon an individual working in the fields of mining, geology, geophysics, who has made an outstanding contribution to the progress of technology in one or more of those fields. And in this initial year (the earlier years are the easiest) just that was done. I think I could get away with it amongst the old-timers of my generation if I say that this time they made the award to the individual, who made the outstanding contribution. But, as Al Smith used to say, "Let's look at the record." Really, the record is mixed up a little with extra-lateral litigation—the old-time "apex cases" under Section 2322 of the Revised Statutes. Reno Sales doesn't like such litigation, but there is little question that the urgency, generated by conflicting claims of intra-limital and extra-lateral rights, and consequent necessity for committing to records and maps the complications of Butte structure, did advance—and by several years—the first continuous, accurate, systematic, and scientific portrayal of the geological and mineralogical details of what is, after all, the most important and the most complicated copper district—at least in North America. Prior to Sales' time, some of the most eminent of geologists often waived details. One geologist took the judge to the window to show him the Rarus fault going through a notch in the Continental Divide. The entertaining testimony in the Bluebird litigation was as perfect in literary style as it was innocent of the criteria by which faulting and lack of continuity of vein structure are now recognized. At any rate, this need for an accurate record of structure was in the background—to whatever extent it was, or was not, the etiological agent—for formation of the Geological Department of the Amalgamated Copper Co. in and about the year 1900. Charles W. Goodale was at that time the head of the Boston & Montana, and John D. Ryan succeeded William Scallon as the president of Anaconda Copper Mining Co. in 1905. Horace V. Winchell, for years a specialist in extra-lateral litigation, was perhaps the man who at that date had the vision, the persuasive weight with the management, and the willingness to defend the idea of large current expenditures (as then viewed) for a complete and sys-

Jan 1, 1955

By HAROLD E. WHITE

LONG before the Stone Age, when man first sought shelter where there-were no natural shelters, such as caves and clefts in the rock, he uprooted trees and planted them upside down so that the roots formed the roof. By selecting trees whose roots grew out in a horizontal direction and; by planting these trees close enough - together, a crude shelter was formed. He then took mud, formed a plaster and covered over the' roots. Later the walls were made by using sticks and twigs and plastering between them. It is natural then, that he wiped his muddy hands on- his own hairy body and soon found that the mud was difficult to remove when, dry. It is due, to this discovery that we mix animal hair in 'our modern plaster to increase its strength. The use of fibrous asbestos in some refractory cements has followed this same principle.

Jan 1, 1929

By John D. Sullivan

MAJOR technical advances seldom occur in a single year, and this is especially true with aluminum and magnesium where marked improvements in metallurgical processes and products took place during the war years. Nevertheless, the light metals and alloys, particularly aluminum, are advancing in commercial importance and are finding their niche in industry. New applications during the year have resulted from a better over-all knowledge of properties, handling, etc., rather than from revolutionary new developments.

Jan 1, 1948

By Harold C. Price

One year ago, that is in January, 1923, there had not been constructed a single oil-storage tank of 55,000-bbl. or more capacity with a completely electric welded roof and bottom. Today, there are at least fifty 80,000-bbl. storage tanks completed, or nearing completion, on which both the roofs and the bottoms are electric welded. It is the purpose of this paper to describe, in a general way, the construction of these welded roofs and bottoms, and to give their advantages over riveted construction. All of the following data and conclusions were obtained from observations made during the welding of tanks by the Welding Engineering Co. at Texas City, Tex., and Tonkawa and Burbank, Okla. As far as can be determined, the first electric welding on large tankage was completed in May, 1922. At that time the Empire Companies of Bartlesville, Okla., discovered a badly leaking bottom in a 55,000-bbl. tank at El Dorado, Kans. They had considered concreting this bottom, but because of the much smaller cost, decided to try electric welding; so a contract was given the Welding Engineering Co. of Bartlesville, Okla. In this instance, no new sheets were added, the bottom being repaired by electric welding of all seams and rivets, Fig. 1. In some places where the original rivets were missing, the holes were filled by welding; patch plates were also added at certain badly worn spots. This tank has since been used for over a year and a half, but no other

Jan 1, 1924

By N. A. Tiner, Saara Asunmaa

The early stages of nucleation of vacuunz-deposited gold coatings on electropolished surfaces of pure nickel and binary alloys of Ni-A1 and Ni-Ti have been studied, employing carefully controlled temperature and vacuum conditions. The preferential nucleation of gold on slip-plane edges on the crystal surfaces gave rise to a very pronounced decoration effect which was used in studying the morphology of the pain boundaries, etch pits, and slip planes on crystal faces. Characteristic surface patterns were observed with local dimensional variations. Most pronounced geometric patterns were ohserved in the pain boundaries of nickel and on the crystal faces of Ni-A1 alloy. The nucleation behauior of gold indicates contamination on the Ni-T1 alloy and the getter properties of titanium are presented as a tentative interpretation for the detected contamination. The markings and imperfections on cleavage surfaces of crystals have long been observed by optical microscopy.1,2 Surface-replica techniques are also used to detect the smallest steps and structural details on crystal surfaces by electron microscopy. Recently, Bassett3-5 and Sella, Conjeaud, and Trillat 6 have shown that, when gold is deposited onto a rocksalt cleavage surface, there is preferential nucleation at steps and slip-plane edges on the crystal surface. This gives rise to a very pronounced decoration effect which is invaluable for revealing the lattice steps on a cleavage surface. According to Bassett,3 gold atoms arriving during vacuum evaporation at the crystal surface have a certain mobility on the surface after arrival, particularly at elevated temperature. If a significant

Jan 1, 1964

By Thomas P. Bispham

INTRODUCTION From the lender's point of view, the greatest period of risk in a project financing occurs during the construction phase. Therefore, most projects are supported during this phase by completion guarantees supplied by some credit-worthy entity; for example, the project sponsors in the case of a joint venture, such as that of W.R. Grace, Hanna Mining, and Liberty Capital; or by a strong contract with a utility or foreign importer/investor, such as the way North American Coal Corporation has structured many of its transactions. THE PROJECT LOAN REQUEST A project financing is a more complex form of term loan than one using an ongoing corporation's balance sheet as a credit base and, therefore, a potential lender will subject the loan request to a more rigorous analysis. To support this effort, the financial institution will require a more detailed information memorandum to evaluate the credit and technical risks of a project - especially since much of the necessary information is not otherwise available. (See also Gibbs and Sroka paper above in this Chapter) A well-prepared information memorandum will impress prospective lenders with the planning ability and general competence of management. Also, the process of preparing the memorandum will help management understand the true extent of the opportunities and limitations of its venture. Appendix A outlines the topics which comprise a complete information memorandum for a loan request. Of some interest to those seeking to sell a currently-operating mining venture, a similar information memorandum should be prepared i.e., covering the same topics discussed here, for the investment banker to use with potential purchasers. For that purpose, though, one might not want to prepare quite as much detail as for a lender. Appendix B outlines the elements of a reserve evaluation and feasibility study, often called the "Bankable Document." Usually, these studies are prepared by independent engineering consultants for use by potential borrowers and sellers. (Potential purchasers will often contract for a similar study for their use in evaluating an acquisition.) ELEMENTS OF A LOAN INFORMATION MEMORANDUM 1. Outline: The information memorandum should begin with a one-page outline covering such topics as: a. The borrower's name, address, and phone number. b. Principal contact at the borrower. c. Amount of the proposed financing. d. Desired pricing and structure of the proposed financing. This should include a description of the amount and source of equity in the proposed financing. e. Use of the proceeds and timing. 2. Summary: The most important information contained in the memorandum should be summarized in two pages. Note - If the borrower is a recently-formed single-purpose company, then elements 3, 4, and 5 will apply to the guarantors of completion and to the project sponsors. 3. The Borrower: This section is a brief biography of the borrower including such topics as date and state of incorporation, founder(s), lines of business, etc. 4. Capitalization: The borrower's current debt and equity position, including leases and trade debt, with amounts, terms, names, and addresses enumerated. Equity owners, and percentage ownership, should be identified. 5. Historical Financial Statements: If available, a minimum of five year's worth of complete historical financial statements

Jan 1, 1985