Search Documents

By Thomas H. Clagett

ThE Pocahontas coal field comprises the area in Tazewell County, Va. and Mcrcer and McDowell counties, W. Va., in which Nos. 3 and 4, Pocahontas seams of bituminous coal are mined. It is a mountainous region with ridges rising 300 to 1000 ft. (91 to 305 111.) above the very narrow valleys and, except for some poorly kept farms along the tops of the ridges and the area occupied by the mining and coking plants and villages, is wooded throughout. First shipments were made from Pocahontas in 1883. There are now about 100 mines, 95 per cent. of which are drift mines. At the end of 1920, approximately 298,000,000 gross tons of coal had been produced and 35,000 acres of coal mined. No. 3 seam is from 4 to 10 ft. (1.2 to 3 m.) thick, but the change is gradual and the thickness fairly uniform in any particular locality. It has a streak of bone, about 2 in. (5 cm.) thick, to which the coal adheres on both sides. In parts of the field this bone is replaced by hard slate, usually from 2 to 4 in. thick. The seam has a slate or fireclay bottom and a draw-slate top. No. 4 seam is from 65 to 80 ft. (19.8 to 24 m.) above No. 3 seam, and of minable section only in the western part of the field. It is from 3 to 8 ft. thick and has two streaks of bone, cach from 1 to 2 in. thick. It has a fireclay or slate bottom and is overlaid by from 4 to 24 in. of a laminated coal and slate, locally termed "black rash," which is separated from the coal seam by about 3 in. of slate. This "black rash" averages about 2.5 per cent. ash, but contains some clean coal. The coal in both seams is quite soft. Cleavage sufficieiltly well defined to exert an influence on the mining is rare. Overlying strata arc slates, shales, and sandstones, the sandstones predominating, extending from 30 to 1000 ft. above No. 3 seam. The strata directly above the draw slate of No. 3 seam, or "black rash" of No. 4 seam, and up to the first sandstone are usually slates or shales, about 10 ft. thick over the.

Jan 1, 1923

By Thomas H. Clagett

ThE Pocahontas coal field comprises the area in Tazewell County, Va. and Mcrcer and McDowell counties, W. Va., in which Nos. 3 and 4, Pocahontas seams of bituminous coal are mined. It is a mountainous region with ridges rising 300 to 1000 ft. (91 to 305 111.) above the very narrow valleys and, except for some poorly kept farms along the tops of the ridges and the area occupied by the mining and coking plants and villages, is wooded throughout. First shipments were made from Pocahontas in 1883. There are now about 100 mines, 95 per cent. of which are drift mines. At the end of 1920, approximately 298,000,000 gross tons of coal had been produced and 35,000 acres of coal mined. No. 3 seam is from 4 to 10 ft. (1.2 to 3 m.) thick, but the change is gradual and the thickness fairly uniform in any particular locality. It has a streak of bone, about 2 in. (5 cm.) thick, to which the coal adheres on both sides. In parts of the field this bone is replaced by hard slate, usually from 2 to 4 in. thick. The seam has a slate or fireclay bottom and a draw-slate top. No. 4 seam is from 65 to 80 ft. (19.8 to 24 m.) above No. 3 seam, and of minable section only in the western part of the field. It is from 3 to 8 ft. thick and has two streaks of bone, cach from 1 to 2 in. thick. It has a fireclay or slate bottom and is overlaid by from 4 to 24 in. of a laminated coal and slate, locally termed "black rash," which is separated from the coal seam by about 3 in. of slate. This "black rash" averages about 2.5 per cent. ash, but contains some clean coal. The coal in both seams is quite soft. Cleavage sufficieiltly well defined to exert an influence on the mining is rare. Overlying strata arc slates, shales, and sandstones, the sandstones predominating, extending from 30 to 1000 ft. above No. 3 seam. The strata directly above the draw slate of No. 3 seam, or "black rash" of No. 4 seam, and up to the first sandstone are usually slates or shales, about 10 ft. thick over the.

Jan 1, 1923

By L. A. White

IN this paper it is proposed to follow the developments in the design of the lead blast furnace at Port Pirie from the time The Broken Hill Associated Smelters Pty. assumed control in 1915 to the present time, with special reference to the development of the system using two superimposed rows of tuyeres as is now in operation. Lead smelting operations first commenced in 1889, when the British Broken Hill Pty. Ltd. started its first furnace. This was followed by installing two more furnaces during the same year and another the following year. In 1892, Broken Hill Proprietary Co. Ltd. acquired the smelting works and combined operations with those at Broken Hill, New South Wales; by 1897, the whole of the smelting operations had been transferred to Port Pirie and thirteen blast furnaces were built to treat the Broken Hill ore production. In 1915, The Broken Hill Associated Smelters Pty. Ltd. took over from the Broken Hill Proprietary and have carried out operations since that time. From its inception, the present company started on a long range program of reconstruction, in which the development of the lead blast furnace has played a prominent part. A definite trend in plant development has been towards the simplification of plant control by a reduction in the number of operating units. The great advantages of technical control which resulted from the very simplified flowsheet established in the continuous refining process stimulated the desire to extend the principle to the smelting operation. Thus in the sequence of furnaces described here, it will be noted that the trend has been towards larger and, of course, fewer units. With each such development it is significant that the operating conditions and metallurgical results have shown steady improvement. Standard Furnace In 1920 there were seven furnaces operating, five of a type subsequently called the standard furnace and two of the original thirteen smaller furnaces, the latter type being used for the treatment of drosses, etc. produced from the refinery section, while the standard type carried out the main, lead-smelting operations. The standard furnace (figs. 1 and 2) had the dimensions given in table I.

Jan 1, 1951

By E. S. Davenport

IT is indeed an honor and a responsibility to have been selected to present the thirty-fourth in this series of Henry Marion Howe lectures, established to perpetuate the memory of a great teacher and one of America's outstanding scientists. Previous Howe lecturers have established high standards for this annual AIME event. It has been my good fortune to have enjoyed close association with five of these former lecturers; namely, Bain, Grossmann, Johnston, Sosman, and Vilella, all of whom have been prominently identified with the research activities of the organization with which I am connected. Some years ago I had an opportunity to examine a letter written by Professor Howe in 1904. This document was particularly interesting to me since I never had the privilege of personal acquaintance with Professor Howe and do not recall even having seen him during his long and active career. In view of the fact that the letter dealt, to some extent, with matters related to the subject of today's lecture, I would like to quote briefly from it. The letter is datelined, "Bad Kissingen, June 11, 1904." The salutation reads, "Dear Bradley," which suggests that it was probably addressed to Bradley Stoughton, who, I believe, was working with Howe at Columbia University at that time. The letter reads, in part, as follows: "Austenite and Martensite. I have not examined what Osmond says in his new book. His former remarks about austenite I found very confusing, indeed unintelligible. I think we can reconcile matters well enough for the present by assuming that martensite is a transition step between austenite at one end and ferrite and cementite at the other. Above critical range for steel of 0 to 1.80 carbon, austenite is normal state; below Ar1, ferrite and cementite are normal." The letter then continues with a discussion of Osmond's ideas on metallographic nomenclature, particularly his use of the terms martensite, troostite, and sorbite, including the following pointed comment: "For common purposes it seems to me unwise to drag them in, and much simpler to confine ourselves to the end stages Austenite Ferrite plus Cementite Osmond does not really know his own mind— or does not clarify his ideas to others—as to nomenclature." Thus we see that, as far back as 1904, the transformation of austenite, and the products of that

Jan 1, 1958

By G. Kinder, R. Gilges, W. Stoker, R. Davey

The Bingham Canyon Mine, located 48 km (30 mi) southwest of Salt Lake City, Utah, is operated by Kennecott Copper Corporation's Utah Copper Division. This operation is the world's largest open-pit copper mine and produces 96 000 tons (106,000 st) ore and 327 000 tons (360,000 st) waste each day. This material is loaded by large electric shovels and transported by both truck and rail haulage. To meet the requirements of the Clean Air Act of 1970 (as amended), new facilities for the control of smelter emissions were required and are now nearing the final stages of construction. The facility will be capable of treating all the output from the mine, some 2,530 tons (2,789 st) per day of combined concentrate and precipitate. Costing $280 million and necessitating the replacement of reverberatory furnaces with continuous smelting vessels, the plant, with its massive and complex gas handling and acid-making facility, is required to remain on-stream with the minimum of pollution control equipment outages to conform with Federal Regulation 52.2325.

Jan 8, 1978

By John W. Frey

[Minerals, generally of great geological age, are to a very large extent the material basis of what we know as modern civilization. In most of the so-called civilized world the use f minerals has become such a commonplace that it is easy to se sight of their importance. It was the use of minerals, obably more than anything else, that made it possible for e American people to expand from the Atlantic seaboard the Pacific in a little over one hundred years. As the 1 to use the natural wealth at hand constitutes a funda¬ental element in American life, there seems to be justification for the thought that American geography is largely mineral geography. Of all American environmental reactions, the most striking are those which have come about through the use of the metals and the power fuels. If we turn to the ancient industry of agriculture, we find very little that is unique in North America except those developments which have come about through the use of machinery and transportation, both of which are contingent upon the use of minerals. Practically every crop now grown n North America was grown in some part of Europe before merica was discovered. One can point out exceptions to statement but in general it is true. Analysis of the es of North American agriculture shows that the outstand¬ characteristics are: regional specialization (i.e., the Economic Geographer; Chief, Petroleum Section, Minerals Division, u of Foreign and Domestic Commerce.]

Jan 1, 1932

By Robert E. Goodwin

There are four main requirements to be considered in selecting a wire rope that will provide the best service. A proper choice is made by correctly estimating the relative importance of each of these requirements and choosing a rope with qualities that will best enable it to withstand the combination of destructive forces expected under continued service. A Good Rope Choice Matches Strength with Stress A wire rope should be (1) strong enough to sup- port the maximum load anticipated with a proper safety factor, (2) able to withstand bending and to resist bending fatigue without failure of the wires, (3) able to withstand surface abuse such as abrasion, pounding, and wire scrubbing, and (4) able to take abuse such as crushing and distortion.

Jan 5, 1969

The resin-in-pulp (RIP) ion exchange process was originally conceived by the Atomic Energy Commission in the early 1950's. However it was developed to commercial success by the Anaconda Co. at its 3000-tpd ore processing mill in Grants, N. M. Essentially, the Anaconda mill's crushing, grinding and acid leaching operations are the same as at the nearby Kerr-McGee mill, except that Anaconda uses manganese dioxide instead of sodium chlorate as oxidant during acid leaching. The real differences between the two mills become evident when considering how Anaconda treats its leached materials.

Jan 8, 1974

By Kenneth K. Humphreys, Joseph W. Leonard, Robert L. Llewellyn, William F. Lawrence

INTRODUCTION Cleaning fine coal sizes utilizing air currents in machines as the primary separating medium is called dry concentration or pneumatic cleaning. In 1947 approximately 18 million tons (16.38 million mt) of bituminous coal were cleaned by air machines; in 1965, 25.4 million tons (23.1 14 million mt); but in 1975, only 7 million tons (6.37 million mt). Table 11-1 shows the tonnages cleaned of bituminous coal and lignite in the United States by various types of equipment from 1938-1963. Table 11-2 shows only tonnages cleaned by pneumatic methods from 1964-1975. The decrease in tonnage to approximately 7 million tons (6.3 million mt) is due to a higher moisture content in the mined coal and the greater difficulty in cleaning the coal by air. There also was a definite trend to load raw coal at the mines, especially the slack which is the most expensive to clean due to the dewatering and drying requirements. While there have not been any applications of pneumatic cleaning in the anthracite field, its use has not been fully explored. The same is true for lignite and subbituminous coals.

Jan 1, 1979

By Charles Catlett

(San Francisco Meeting, October, 1911.) WHILE the occurrence of phosphorus in coking-coal has assumed less importance with the development of the open-hearth method of steel-making, it may not be without interest to note the form in which phosphorus exists in one particular coal-seam. In the examination of what is known as the Big seam, which outcrops a few miles west of Columbiana, Ala., my attention was called to the distribution through the coal, in the form of minute veins and particles, of a resinous-looking substance. A small amount of this was selected, and was provisionally identified as evansite (Al6, P2 014. 18 Aq). Subsequently, through the courtesy of Dr. Sharshall Grasty of the Geological Department of the University of Virginia, I was able to secure an additional amount of material, which was purified down to about 0.3 g. This was examined by Prof. John J. Porter of the University of Cincinnati, and gave the following partial analysis

Nov 1, 1911

By Halbert Powers Gillette

In every chemical reaction heat is either developed or absorbed, and this plus or minus heat of formation is as definite in quantity as the weights of the reacting elements. In this paper I shall show that each chemical element and each chemical radical has its own definite heat-valency,—a fact which, so far as I know, has hitherto escaped the attention of investigators, but, I feel sure, will be admitted after the demonstration here given, and may lead to some practical conclusions of value. When Berthelotys " law of maximum work " was found to have so many inexplicable exceptions, the pendulum of a scientific theory swung away from a recognition of the truth underlying that proposition; and this reaction went so far that not only has thermal chemistry been relatively neglected by recent investigators, but it is not uncommon now to find textbooks on physical chemistry which practically ignore all that Thomsen, Berthelot and others have done. To this temporary tendency of thought I attribute the failure to recognize the principles herein announced and explained. Not long ago, while studying tables of the formation-heat of various salts, I noticed that in this respect all potassium salts in solution differ from the corresponding sodium salts by 9.3 cal.1 I found also that similar differences exist between other salts, not only when the basic radical is varied, while the acid radical remains constant, but also when the acid radical is the variable. Thus chlorine salts in solution differ from bromine salts in this respect by 10.9 cal. Upon further study, I found that Thomsen had noted similar constant differences, but, so far as I can ascertain, he appears to have attached no great significance thereto.

Jan 1, 1904

By L. R. Raymond

With the trend toward deeper and consequently hotter holes, measurements of drilling mud properties at atmospheric temperatures are becoming increasingly inadequate.' Both the prediction and control of down-hole mud properties depend in part upon our knowledge of temperatures in the wellbore. Consequently, a better understanding of factors that affect temperatures during circulation and trips could improve drilling operations. It was toward the goal of obtaining this understanding that this study was directed. Other investigators2 have studied the response of fluid temperature in the borehole during trips. However, all of these studies have used an assumed formation temperature profile at the conclusion of circulation and have provided no means to calculate this profile directly. In this study, the formation profile during circulation was calculated. Other investiga-tors3-5 have also studied bottom-hole temperature during circulation. However, they have developed neither general techniques for calculating the entire temperature profile in the system nor generalized methods for predicting bottom-hole fluid temperatures during circulation. Such techniques and methods have been developed and are discussed briefly in the following pages. Temperature Behavior During Circulation Circulation of fluid during the drilling operation is represented schematically in Fig. 1. The process of circulation has three distinct phases: (1) fluid enters the drill pipe at the surface and passes down the drill pipe; (2) fluid exits the drill pipe through the bit and enters the annulus at the bottom; and (3) fluid passes up the annulus and exits the annulus at the surface. To simulate the thermal behavior of the fluid in the system, each of the phases of circulation must be described mathematically. In Phase 1, the fluid enters the drill pipe at a specified temperature, TDo. As the fluid passes down the pipe, its temperature is determined by the rate of heat convection down the drill pipe, the rate of heat exchange between the drill pipe and the annulus, and time. Phase 2 of the circulating process merely requires that the fluid temperature at the exit of the drill pipe be the same as the fluid temperature at the entrance of the annulus; i.e., TD(L,t) = TA(L,l). Thus in Phase 3, the fluid enters the annulus at TD(L, t). As the fluid flows up the annulus, its temperature is determined by the rate of heat convection up the annulus, the rate of heat exchange between the annulus and the drill pipe, the rate of heat exchange between the formation adjacent to the annulus and the fluid in the annulus, and time. These rates of heat exchange and the time dependency of mud temperature are described by well known heat-flow equation.6 Consequently, as shown in the Appendix, the temperature profiles in the drill pipe, annulus, and formation can be obtained by solving Eqs. 1 through

Jan 1, 1970

J. W. RICHARDS*(South Bethlehem; Pa.).-The brass industry would find it very profitable to subsidize researches on the purely scientific determination of the thermophysical properties of the brasses. The data we need most in connection with the brasses are the vapor tension of the zinc from the brasses at different temperatures, the heat of combination of zinc With copper to form different kinds of brasses, and the latent heat of fusion of these brasses at the melting temperature.

Jan 1, 1919

F. WEIMER,* Washington, D. C. (written discussiont).-For electrical measuring instruments, especially those types that involve the Wheat-stone bridge or potentiometer principle and standards of electrical resist-ance, there has been, for a considerable time, a need for better resistance materials. For a satisfactory resistance material, much depends on the purposes for which it is to be used. For potentiometers and Wheatstone bridges, such as are in more or less general use, and the more common forms of resistance standards, a good quality of manganin answers fairly well. However, it should not be presumed that manganin is considered ideal for the purpose, for in measuring instruments and resistance stand-ards, there is still much to be desired. An experience of more than 10 years in the study of the resistance standards and resistance apparatus shows that manganin resistances change with time in a way that is very annoying and the maintenance of the unit of resistance to the desired accuracy requires an excessive amount of work or may be said to be prac-tically impossible. The changes in resistance are generally most rapid and erratic in resistances of very low and very high values. In resist-ances of low value, the resistance material is often in the form of thin sheets so that the surface is large and usually more or less unprotected from the atmosphere, or the oil in. the case of oil-immersed standards. In resistances of high value, the resistance material is in the form of fine wire and, therefore, the surface is large compared with the cross-section. In resistances of medium value, the surface is less, compared with the cross-section, or better protected, usually by a silk wrapping impregnated with shellac. This suggests that one of the difficulties with manganin is slow surface action or oxidation, even when an effort has been made to protect the surface from such action However, the changes observed cannot all be accounted for on this basis. There are, presumably, also some internal changes in the resistance material even when it has been annealed. Further; the changes in manganin resistances seem to be more or less independent of its electrical properties. In other respects, too, manganin is not ideal.

Jan 11, 1919

By N. Mao

This paper presents the results of a research effort to develop a technique for estimating in situ stresses by measuring stress-induced velocity anisotropy around a borehole. Relevant parameters required to make the estimate were identified and measured in the laboratory on a 35.6 cm (14.0 in) cube of Nugget sandstone with a 10.2 cm (4.0 in) diameter hole, under biaxial loading. Two pairs each of radially and tangentially polarized transducers were placed inside the hole with displacement directions either parallel or perpendicular to the principal stress directions. With this configuration, relative travel times were measured by both a pulsed phaselocked loop technique and a cross correlation of digitized waveforms. The biaxial velocity data were used to back-calculate the applied stress. The standard deviation of the differences between the calculated and applied stresses is 0.62 MPa (90 psi) for a stress level up to 8.63 MPa (1250 psi).

Jan 1, 1984

By J. C. Smock

The primitive mode of mining clay by open workings, in which the overlying beds of earth (commonly termed the " bearing ") were removed, and the clay then dug out by sinking shallow pits, is still the prevalent and almost universal mode of extraction. This is particularly true of our cretaceous and tertiary clays, which are generally earthy in character, and but slightly covered by drift and alluvium. The most accessible beds in many of our clay districts have been worked out, and clay miners are compelled to search for new outcrops, or to remove thicker beds of top dirt or bearing. Under this stimulus subterranean working, or mining proper, has been suggested. A brief notice of this new mode, as employed by Mr. Otto Ernst, near the head of Chesquake's Creek, three miles south of South Amboy, New Jersey, is here presented for your consideration. Previous to mining, the old mode of extraction, digging pits, was found to be too expensive, in' consequence of the heavy amount of top dirt and the excessively large amount of water in these overly

By J. C. Smock

THE primitive mode of mining clay by open workings, in which the overlying beds of earth (commonly termed the "bearing") were removed, and the clay then dug out by sinking shallow pits, is still the prevalent and almost universal mode of extraction. This is particularly true of our cretaceous and tertiary clays, which are generally earthy in character, and but slightly covered by drift and alluvium. The most accessible beds in many of our clay districts have been worked out, and clay miners are compelled to search for new outcrops, or to remove thicker beds of top dirt or bearing. Under this stimulus subterranean working, or mining proper, has been suggested. A brief notice of this new mode, as employed by Mr. Otto Ernst, near the head of Chesquake's Creek, three miles south of South Amboy, New Jersey, is here presented for your consideration. Previous to mining, the old mode of extraction, digging pits, was found to be too expensive, in' consequence of the heavy amount of top dirt and the excessively large amount of water in these overly-

Jan 1, 1875

By George Burgess

THE Pyrometer Committee was. formed Sept. 20, 1918, at the suggestion of Dr. H. M. Howe, Chairman of the Engineering Division of the Research Council, for the purpose of developing a pyrometric method suitable for open-hearth steel practice so that the effects of temperature in the various stages of the processes of steel making might be correlated quantitatively with the other factors influencing the production of sound .steel. As finally constituted the Committee consists of Dr. George K. Burgess, Chief Division of Metallurgy, Bureau of Standards, Chairman. Dr. Paul D. Foote, Chief of Pyrometry Section, Bureau of Standards, Secretary. Dr. H. M. Howe, Chairman Engineering Division, National Research Council, ex officio. Prof. G. H. Clevenger, Chairman Metallurgical Section, National Research Council, ex officio. Mr. F. E. Bash, Leeds & Northrup Co., Philadelphia, Pa. Mr. R. P. Brown, The Brown Instrument Co., Philadelphia, Pa. Prof. G. H. Brown, Rutgers College, New Brunswick, N. J. Mr. R. C. Drinker, metallurgical engineer, Boston, Mass., Dr. W. E. Forsythe, Nela Research Laboratory, Cleveland, Ohio. Mr. J. T. Hall, Taylor-Wharton Iron & Steel Co., High Bridge, N. J. Mr. J. S. McDowell, Harbison-Walker Refractories Co., Pittsburgh, Pa. Mr. Malcolm McNaughton, Joseph Dixon Crucible Co., Jersey City, N. J. Mr. A.' H. Miller, Midvale Steel Co., Philadelphia, Pa. Mr. F. E. Walduck (since deceased), The Norton Co., Worcester, Mass.

Jan 9, 1919

By J. Groyecki, M. Markuszewicz, J. Lassota, A. Zawada

The ratio of stable to unstable inclusions was found to ploy an essential role in the process of sccorldar-y recrystatlizalion in Si-Fe. The analysis of the free energy of inclusions in the range of heat-treatment of individual inclusions to be predicted. The effects MnS. ns inslable inclusions. were investigated. TO secure a high induction, the secondary recryslulliztt-lion associated wilh the texture is necessary. To obtain a low core loss an additional refiuing in the solid state is required. It has been found that sulfur can be more easily removed in racunm than in hydrogen and thai this process was hindered by the prescrzce of INCLUSIONS play an essential role in the development of cube-on-edge texture in Si-Fe. Their function consists in restraining the growth of primary grains up to about 900°C and in passing subsequently into solution at higher temperatures. This process is accompanied by the selective growth of secondary grains with (110)[001] orientation. The general effect of inclusions depends on such factors as the type of impurities, their amount. dispersion and stability, the conditions of diffusion in the space of lattice of metal, and the reactions at the metal/gas interface. In recent years, some of these factors were the subject of a special investigation. A positive influence of Mns, siN,' and vN3 has been established. The quantity of impurities4 and their dispersion5 have been found to be of major importance. Attention was called to the vital importance of diffusion and the conditions under which the impurities are removed from metal., It has also been demonstrated that in Fe-Si alloys by the techniques of powder metallurgy a special opportunity exists to obtain the (110)[001] type texture. 6 The aim of this work was to conduct qualitative investigations on the influence of inclusion stability on the development of cube-on-edge texture in a metal containing approximately 3 pct Si. Experiments were carried out on cast alloys and on those manufactured by powder-metallurgy techniques. The results obtained from these experiments were utilized to explain the phenomena involved and to analyze the relationships between stable and unstable inclusions and the magnetic properties of alloys. EXPERIMENTS AND RESULTS The raw materials used in these experiments were the powder of carbonyl iron with the analysis (in pct) 0.044 C, 0.01 Mn, 0.005 Si, 0.009 P, 0.002 S, traces of Cu, 0.06 Ni, 0.0015 Al, 0.03 Cr, 0.02 Mo, 0.01 Ti, 0.002 Co, traces of Pb, and the powder of silicon containing 94.14 Si, 0.003 S, 0.048 C. The powders were ground and mechanically mixed in 100-g batches. and then pressed at 9 tons per sq cm into 74 by 24 by 8 mm blocks. Sintering was carried out at 1100°C for 12 hr in vacuum (2 x lo-' Tr) or in hydrogen. In this instance the material was heated slowly and subjected to prolonged soaking at 350°, 650°, and 750 2C, respectively, to secure reduction of ferro-oxides. This was checked by making measurements of the dew point, which was found to change from -15" to -35°C after reduction. The compacts after sintering were hot-rolled to 2.4 mm, annealed at 800 C, and finally cold-reduced to 0.35 mm with intermediate annealing at 800°C at a gage of about 0.8 mm. Impurities were added in the powdered form and mixed with iron and silicon powders. Sulfur in the elemental state, electrolytic manganese, and pure aluminum oxide were employed. Besides, to obtain a material with low contents of impurities, especially

Jan 1, 1967

By Dennis Peterson

INTRODUCTION The business arena has dramatically changed for most producers and consumers of commodities. International debt, currency shortages, political upheavals, etc., require corporations today to be sophisticated and flexible enough to change their purchasing and sales techniques in order to maximize returns. Many external factors, such as interest rates, trading partners, currency changes, and government edicts, can have an adverse effect on a company's bottom line. Totally out of a company's ability to control or predict, these. factors force the commodities based corporation to constantly re-evaluate its operating scope and domain. The principle of back-yard only operations and the laissez-faire with blinders style of management is no longer a viable way to run a business. The industrial world has been operating for the past 10 to 15 years as though there were no commodity nor raw material crisis. For developed countries the primary products sector has become marginal, whereas it was central in the first half of the century. A radical change in the method of doing business is necessary to offset a depression in the industrial economy. The risk of collapse may be heightened by a banking crisis caused by massive defaults on the part of commodity producing debtors, whether in the third world or in our own farm producing sector. The raw materials economy has become divergent with the industrial economy. This is a major change in the world economy with tremendous implications in both developed and developing countries for economic and social policies and economic theories. Basic competition issues, such as low labor costs, are likely to become less of an advantage in international trade. In developed countries these costs are going to account for a smaller portion of total costs. The total costs of automated processes are lower than those of traditional plants with low labor costs. Automation in the commodities sector eliminates the hidden but high cost of not processing at capacity created by poor quality, rejects and maintenance for product change-overs. The cost of capital will become increasingly important in international competition. Over the last ten years the U.S. has become the highest cost country in this area. Reversing the U.S. policy of high interest rates and costly equity capital should be a priority for management decision makers. In the rapid industrialization of this century, Japan developed by exporting raw materials, (principally, silk and tea), at steadily increasing prices. Germany developed by leap frogging into the high-tech industries, mainly in electricity, chemicals and optics. The United States did both. Both avenues are blocked for today's rapidly industrializing countries because (a) the deterioration of the terms of trade for primary products, and (b) it requires an infrastructure of knowledge and education far beyond the scope of a poor country. Many explanations exist for the explosion of international money flows. The shift from fixed to floating exchange rates in 1971 may have given initial impetus by inviting currency speculation. The surge in liquid funds flowing to petroleum producers after the oil shocks of 1973 and 1979 was definitely a major cause. There can be little doubt that the U.S. government deficit also played a big role. The American budget deficit has become a massive void, sucking in liquid funds from all over the world and making the U.S. the world's major debtor country. In reality, a trade and payments deficit is actually a loan from the seller of goods and services to the buyer, that is, to the U.S. From now on, the global ramifications of business will have to be treated in economic theory and business policy alike. Economic theory teaches that the comparative advantage factors of a real economy determines operative and financial policy. These comparisons -- labor costs, productivity, raw materials cost, energy costs,

Jan 1, 1990